The Bauhaus Research Paper Example | Topics and Well Written Essays - 2000 words

The Bauhaus - Research Paper Example Most of these were political in nature, and this is the difference between the German art of this period, and the one that was being advocated by Walter Gropius. Therefore, the principle of Bauhaus was not political, and this was able to appeal to a large group of people, which in turn led to the embrace of these principles of Bauhaus. Furthermore, the influence of Bauhaus is depicted on the works of William Morris. William Morris denoted that there is no need of creating a boundary between function and form, and art should always carter for the needs of the society. This was a major principle and teachings of art that was advocated by the Bauhaus. Another important achievement of Bauhaus is modernism. Modernism was a cultural movement tracing its origins from the late 1880s. For instance, before the set up of the institution, the principles of functionality, mass production, and the merger of arts, and crafts had began in Germany. These are some of the ideals of Bauhaus. In the year 1907, Deutscher Werkbund, a German national designer’s organization had been formed under the leadership of Herman Muthesius to harness and collect the potentials of mass production with the single aim of maintaining Germans economy in its competitiveness with the English economy. Over the first few years the organization came to be known as the authoritative body on design in within Germany and was emulated by many other countries . The Bauhaus was founded when most of the German designers had moved.

Good Night and Dance in America Essay Example for Free

Good Night and Dance in America Essay Death is inevitable and comes in different cases, and when it’s nearly there people has different ways on how they deal with it but the most affected of all are the people around them. Just like in Lorrie Moore’s â€Å"Dance in America† and Dylan Thomas’ â€Å"Don’t Go Gentle into that Good Night† both features dying people and how they live knowing anytime soon, they could die. Life is a gift from God; everyone should learn to value his life, maximizing what he can do while he is still alive, especially for his family, friends and other people around him, because nobody knows when will be the final hour. The poem â€Å"Don’t Go Gentle into that Good Night† is strongly emotional and by reading each line, you can feel the author’s anger or bitterness about death. Thomas used the term â€Å"good night† to represent death with respect to the Christian belief that death is a peaceful rest of the body as it enters the next life. Though it can be interpreted in different ways, as a personal note, the poem summarizes his thoughts about the inevitability of death and the way people deal with it. He states that people know that death is for certain, that people already accept the fact that everyone will come to their end according to the will of God but, at the end of the day, they fear leaving the world and regrets start to bother them. He mentioned in his poem about wise men that despite their wisdom cannot truly tell why death is inevitable and just accept the fact that they are dying; of the good men who did good deeds but still end up with death; and those men who lived with serious illnesses who should have enjoyed life more than just wait for their final hour. Then when their time comes, it would be too late to regret things and time wasted. Thomas also addressed there his father as he witness how his father suffered from blindness and illness, crying in pain but seems like just waiting for his end. He doesn’t like the idea that one should readily accept his death but instead, one should fight for his life and struggle against death, whether you are a wise, good, wild, or grave man. Gently accepting death, for him is narrowness, that God’s greater plan is being given up: there’s more to life. For him, death is not the end of life on Earth and the beginning of another life. Life could be more valuable and may be lived longer if people would never give up easily and fight death. (Thomas, Dylan) In Moore’s work, she also tackled the different issue in life including death. A seven year old boy named Eugene was born with a disease that affects the lungs called cystic fibrosis. He got the disease from his father. He also had some relatives who died with it. In the story, Eugene’s case had become more serious that he generated too much liquid in his lungs. But despite the graveness of the health condition, the researchers, doctors, and his family lose no hope that somehow he can survive. But like any parents, Eugene’s experience brings them sadness and grief knowing that their child is suffering from a very serious health problem. They don’t want to lose him not just because he is their only child but also because they believe he is such a good boy for God to let him die at a very young age. Eugene, himself, is also very open-minded about his condition. He understands everything and the disease didn’t pave the way to make him enjoy his childhood. He and his parents are making sure he is enjoying every moment of his life, making things seem normal. (Moore, Lorrie) The death of Simone’s first husband is also mentioned. That he killed himself after she dumped him. The author indirectly tries to say that life is unfair and ironic. There are people who longs and would do anything for a healthy life but then there are people who were granted with a normal life and healthy body would just give it all up and commit suicide. (Moore, Lorrie) In comparison, the two authors both discussed about death and the way people deal with it. Some readily accept their death and some even waste the opportunity to live, while some still fight as long as they are alive. They question its inevitability. They show that death comes unexpectedly. Life is unfair. Thomas argues about struggling in life, same as Moore as she presented the life of Eugene who is fighting against cystic fibrosis. Life is worth living and therefore it should be greatly valued by people. Their writings both presented a clear visualization of the scenarios. The works are both full of emotions and imagery. Thomas’ work is very conversational, that it is directly telling people to value life and struggle against death, especially in the part where he is talking to his father: â€Å"And you, my father, there on the sad height, Curse, bless me now with your fierce tears, I pray. Do not go gentle into that good night. Rage, rage against the dying of the light. † (Thomas, Dylan) He is saying â€Å"curse me for being still alive saying all these things, and bless me as well. You should have not readily accepted your death just like that. Life is worth living. † While in Moore’s, she leave the emotion and the message for the readers to interpret to themselves what she is trying to say by just presenting circumstances and issues. â€Å"Don’t Go Gentle into that Good Night† has an angry, sorrowful, and persuasive tone which strikes through the heart, while â€Å"Dance in America† has mixed emotions such as fun, sorrow, and anticipation which is more entertaining. The works of these two great authors agrees with the same thing, that life is worth living. Everyone is entitled to take care and value his own life for you’ll never know when it will end. Life can be very unfair and ironic. Live and enjoy your life as if everyday would be the last. Value it knowing there are some people who would have wanted to be in your shoes for having a normal and long life. For those who have serious illness or is determined to anytime soon, one should not lose hope for there are more good things to come and instead of getting bored in life or get yourself stuck on your room crying and just wait for the final hour, spend your time exploring the world with your family, friends and loved ones. There are just too many reasons for someone to stay alive and embrace life whole-heartedly. Do what you want before it is too late. Take care and value life just like what Dylan Thomas said in his poem, â€Å"Rage against the dying of the light! † You can make your light shine brighter. References: Moore, Lorrie. Birds of America. USA: Picador, 1999. Thomas, Dylan. Do not Go Gentle into that Good Night. 19 March 1999. 21 August 2007 http://www. cs. rice. edu/~ssiyer/minstrels/poems/38. html.

Violence in Dracula :: essays research papers

Throughout many types of literature, violence exists to enhance the reader’s interest in order to add a sense of excitement or conflict to a novel. This statement withholds much truthfulness due to the fact that without violence in a piece of literature such as Dracula by Bram Stoker, the plot would not have the same impact if it were lacking violence. So to holds true to that of the movie. The movie bares different characteristics then that of the book. First off, the whole ordeal with the wolf escaping and jumping into Lucy’s, room and Lucy’s mom having a heart attacked is never even mention in the movie. Second, The night when the four men go to Lucy’s grave and find it empty is stated both in the book and in the movie however what unfolds after this is different. Finally, the end of the book differs severely from what Francis Ford Copolas rendition and that of the Bram Stoker see it to be. The differences are as follows†¦ A newspaper clipping from September 18 reports that a large wolf escaped from its cage for a night and returned the next morning, On the night of the 17th, Lucy records how she awakes, frightened by a flapping at the window and a howling outside. Her mother comes in, frightened by the noise, and joins her in bed. Suddenly, the window is broken, and a huge wolf leaps in. Terrified, Lucy's mother tears the garlic wreath from her daughter's neck and then suffers a heart attack and dies. Lucy loses consciousness, and when she regains it, the wolf is gone. The four household maids come in and are terrified by the sight of the body; they go to have a glass of wine, but the liquid is drugged and they pass out. Lucy is left alone, and she hides her diary, writing at the end that the "air seems full of specks, floating and circling . . . and the lights burn blue and dim. (Stoker 117)" This part in the book keeps the reader on the edge of his seat to read as to what will occur next. Is baffling to me as to why Copola decided not to include it in the movie. I think that this primarily had to do with the fact that in the movie Dracula was percieved to be a loving person of sorts and not a monster as thought of in the book. Violence in Dracula :: essays research papers Throughout many types of literature, violence exists to enhance the reader’s interest in order to add a sense of excitement or conflict to a novel. This statement withholds much truthfulness due to the fact that without violence in a piece of literature such as Dracula by Bram Stoker, the plot would not have the same impact if it were lacking violence. So to holds true to that of the movie. The movie bares different characteristics then that of the book. First off, the whole ordeal with the wolf escaping and jumping into Lucy’s, room and Lucy’s mom having a heart attacked is never even mention in the movie. Second, The night when the four men go to Lucy’s grave and find it empty is stated both in the book and in the movie however what unfolds after this is different. Finally, the end of the book differs severely from what Francis Ford Copolas rendition and that of the Bram Stoker see it to be. The differences are as follows†¦ A newspaper clipping from September 18 reports that a large wolf escaped from its cage for a night and returned the next morning, On the night of the 17th, Lucy records how she awakes, frightened by a flapping at the window and a howling outside. Her mother comes in, frightened by the noise, and joins her in bed. Suddenly, the window is broken, and a huge wolf leaps in. Terrified, Lucy's mother tears the garlic wreath from her daughter's neck and then suffers a heart attack and dies. Lucy loses consciousness, and when she regains it, the wolf is gone. The four household maids come in and are terrified by the sight of the body; they go to have a glass of wine, but the liquid is drugged and they pass out. Lucy is left alone, and she hides her diary, writing at the end that the "air seems full of specks, floating and circling . . . and the lights burn blue and dim. (Stoker 117)" This part in the book keeps the reader on the edge of his seat to read as to what will occur next. Is baffling to me as to why Copola decided not to include it in the movie. I think that this primarily had to do with the fact that in the movie Dracula was percieved to be a loving person of sorts and not a monster as thought of in the book.

Personal Traits

There are some traits I think they are also my weaknesses that I do not like about myself, I am not able to change them completely because they make me different from others and also defined who I am. However, I am trying to improve myself day by day to adapt, work, and communicate with others and to limit effects of these traits in my performances. These traits are trying to make anything as much perfect as I want, Judging a person by external appearances and lack of self-control.Firstly, I want anything has done as much perfect as possible, it is may be good because I can gain a lot of good feedbacks or good results but it also causes a lot of troubles for not only myself but also others. Since I expect too much so I tend to collect other works; therefore, I usually work under pressure, feeling overwhelm and depressed when the result went bad. Moreover, I usually work in team, sometime I create stressful because of my requirements. That leads some unnecessary discussions and argume nts.Hence, to improve this weakness I think I should truth in there contributions by instead of do or try to fix anything by myself, I can discuss and give some recommendations for others and lets them finished in their own ways. As the result, I can reduce the volume of my tasks, avoid unnecessary arguments, have more time and wide views to check and evaluate final performances. Secondly, I tend to Judge a new person based on their external appearances, it can prevent me from making true friends and is misleading.To avoid these mistakes, firstly, I should spend more time to know new people because different people have efferent life styles, backgrounds and believes which their appearances cannot show. Secondly, I should remind myself some mistakes that I already have because mistakes are lessons. Hence, keep in mind these lessons will help me give expectations and behavior to others in appropriate levels. Finally, I think self-control is an important point which I should improve be cause I communicate ad interact with others every day and time.Therefore, my attitude and behavior will directly affect others' Judgments about myself. When I was in a first workup at university, it was hard to make appropriate responds when I was angry. This leaded to lost friendships and stress feeling for me. To improve my self-control, I should find and remember some signals which appear before I cannot control myself, for example high temperature, or get wet at my hands. Moreover, I think that keep calm- silent in a moment before starting or continuing a discussion or argument is a good way, because I have time to think carefully and refresh my mind.This helps me o avoid letting my emotion cover my opinions and lead my actions. In conclusion, to have a happier life by reducing stress and work under pressure, I should not try to finish anything perfectly as I want, but I can ask for helps and be open minded. Moreover, to avoid and limit mistakes caused from my Judgments which ba se on other external appearances, I should spend more time to Finally, to improve my self-control, it is better to recognize and remember signals occurred when I am getting angry, and keep calm will create time for me to think carefully about my reactions.

Abc Steel Company Essay

Robert Cruz, newly appointed Shop Manager of ABC Steel Company, was making his way through the plant back to his office. He had just reviewed the company’s most recent operating statistics with his boss, Rudyard de los Santos, Operations Manager. The statistics were shocking: ABC Company’s production backlog had reached such proportions that top management decided not to accept any further business. The company was paying penalties of P50, 000.00 a day due to non-fulfillment of contract delivery dates. ABC Company was one of the country’s largest producers of fabricated steel products. The company fabricated and installed storage tanks, mine and cane car bodies, dump bodies, boats and many types of structural steel. As shown in the organization chart (Exhibit 1), fabrication and installation activities were organized as independent activities. See more: Is the Importance of being earnest a satirical play essay Robert Cruz had recently been promoted from Quality Control Supervisor to Shop Manager (see Exhibit 1). Twenty-nine years old, Robert had worked for ABC Company for the past 2 years. He had previously worked as a sheet metal worker and as an instructor at a United States naval base in Subic. Robert held an engineering degree from a local university. Plagued by an ever-increasing production backlog, ABC Company had placed Robert in charge of all shop operations. There were 200 workers in the shop reporting directly to leadmen who, in turn, reported to Bay supervisors.1There were five Bay supervisors reporting to Robert. Before Robert’s appointment, Jim Fuentes, 45, was in charge of the shop. It was decided to transfer him to the position of Field Manager. (This position had formerly been a part of Rudyard’s responsibility.) Before, he and Mr. de los Santos had reviewed the ABC Company’s performance. Robert had isolated a number of critical problem areas in the fabrication shop. Production control was a constant problem. Schedules were drawn up improperly and they were seldom met. For example, a local construction firm had recently contracted ABC Company to build 2 dump trucks. The contract  price agreed upon was P150,000 each, and the trucks were to be delivered in 8 weeks. ABC Company had failed to meet the delivery date. The first dump truck was delivered after 10 week’s time, and the production statistics revealed that â€Å"out of pocket† costs for the first truck exceeded P170, 000. The second truck had yet to be delivered, and Robert estimated that fabrication costs for the two would total nearly P400,000. It was discovered that labor and material estimates had been inaccurate. More importantly, Robert listed four reasons why target dates were not met: (1) the targets were unrealistic, (2) shifts in manpower requirements were not anticipated, _______________ 1All fabrication activities were carried on in separate sections of the plant called â€Å"bays†. Most work orders were started and completed in one bay; less than 20% of the production work flowed from one bay to another. (3 there were no consistent â€Å"follow-up† policies and (4) machine scheduling was so poor that during one week, a huge cutting machine lay idle, while during the next week it had to be run 22 hours a day.2 As shown in Exhibit 1, Rudyard de los Santos was acting Production Control Manager. He and Gabby Alcantara, (Shop Production Control Supervisor), were working on a more effective system of production control. But Robert believed it would be at least six months before any new system would be ready for implementation. As the General Manager admitted, production and control was a â€Å"hit and miss† affair. Another problem Robert Cruz inherited when he took over the fabrication shop was a shortage of skilled manpower. ABC Company had long prided itself on being a producer of top quality steel products. The use of skilled welders, cutters, and steel workers was ABC Company’s only assurance that this quality could be maintained, and in recent years such skilled workers had become scarce. Finally, Robert had been told that there were serious â€Å"discipline† problems  in the shop. Workers were often tardy. They fraternized constantly during working hours, and often disregarded the authority of their leadmen and supervisors. Ninety percent of the laborers came from a nearby baranggay, and many were also baranggay leaders tended to be more lax in implementing company policies and taking disciplinary action against the workers. Other baranggay leaders who did not hold positions of responsibility with ABC Company were able to undermine the authority of the leadmen and supervisors in the shop. Two of the five Bay supervisors were described by the workers as â€Å"baranggay leaders†; two were described as being â€Å"not important† in the baranggay. One supervisor was an â€Å"outsider† and did not reside in the nearby baranggay. When Robert’s appointment to the position of Shop Manager became known, many persons in the shop were surprised. Although his performance in the Quality Control Department had been excellent, many of the â€Å"old timers† in the shop believed he lacked sufficient â€Å"management experience.† Interview with Robert Cruz Edison Mojica, an MBA student specializing in Organizational Behavior, had been observing the operations of ABC Steel Company as part of practicum for a number of weeks. He was waiting in the Shop manager’s office when Robert Cruz returned from his meeting with Rudyard de los Santos. He and Robert sat down and the new Shop Manager began to talk. Robert: Well I know I’ve got my work cut out for me†¦ You should see those penalty figures! We’ll be bankrupt in another five months at this rate! I’m still swimming in a pool of problems†¦Lots of them. Old problems dropped into my lap. _______________ 2ABC Steel Company fabrication operations were carried on during two eight-hour shifts. The first shift was from 8 AM to 5 PM; the second shift was from 5 PM to 2 AM. What’s worst, present problem multiply them (Pause). Of course, management does not expect me to solve these problems all by myself. I’m new in this position†¦.besides, the odds seem to be on my side. I would need the help of other departments. Edison: What do you mean by â€Å"odds†? Robert: Well, take the case of my supervisors in the shop. They are too old to be my subordinates. (Laughs) Not only that, they’re too good to their men. I don’t get any bad reports from them. That’s not an accurate reflection of things. The supervisors can’t afford to go against the majority’s rule you know how baranggay folks are†¦. Edison: But do you get results from your supervisors? Robert: It’s not a question of getting results from them. It’s more a problem of getting the best results. Do you think that my supervisors would have the guts to ask their men to cut out their chat-chats during working hours, or their coming late to work? Or even correcting their poor working habits? Everyone tries to be a supervisor here, you know. Edison: How do you propose to correct this situation? Robert: The Personnel Department will have to help me handle this problem. My supervisors and leadmen will be given supervisory training. If they still don’t’ learn†¦ Well, I think I have to be more firmed with them. Right? You see, before I stepped into this shop, these supervisors had been doing the things they’re doing now for generations. I’m not exaggerating. I think previous management had been too lax with them. To break a rule was not uncommon. Nobody seemed to check on anyone. Now when I came in, I tried to push these rules. What happened? The workers thought that I’ve created new rules for them. They think I’m trying to be strict with them. Edison: What’s your major problem in the shop? Robert: I have many major problems. (Laughs) But I think production control is the worst of them. We never seem to have completed any job on time. This is what’s costing us money. Planning and scheduling are a hit and miss affair. It’s really hard to break a habit, isn’t it? Besides, our production control section is undermanned, I think. What we‘ve got to do is get the men to think in terms of a schedule, a plan †¦.rather than just working on the job in front of them†¦.. The Problem of Overtime The following day a Bay Supervisor entered Robert’s office and requested that the entire fabrication work force be placed on overtime that weekend to complete a number of unfinished jobs.3 The Shop Manager knew that in recent months overtime expenses were extraordinarily high. Mr. de los Santos and top management had tolerated this extra expense because it seemed to be the only way to meet deadlines. Before granting the Bay Supervisor’s request, Robert asked for detailed description of the operations that were to be completed during the overtime period. The Bay Supervisor became angry. He stood up and exclaimed loudly. â€Å"Nobody in my twenty years in this shop has demanded this from me. Who do you think you are?† The two men stared at each other. After a few moments Robert suggested they review the matter with Mr. Rudyard de los Santos. The Operations Manger, sensing that the Bay Supervisor was very upset, decided that the Supervisor on this occasion need not submit a description of work to be completed. However, it was made an operating procedure from that time on that a proposed overtime activities list had to be submitted before any overtime could be allowed in the shop. The following week Robert found that it would be necessary for one of the fabrication bays to work overtime. He approached the Bay Supervisor and asked him to work overtime on the following day. To Robert’s surprise, the  Supervisor told him that the men could not make the overtime because they all had â€Å"previous appointments.† ABC STEEL COMPANY Essay VIEWPOINT:a) Mr. Robert Cruz, newly appointed Shop Manager of ABC Steel Company. The company had placed Mr. Robert in charge of all shop operations; OR b) Top Management TIME CONTEXT:At present I.PROBLEM STATEMENT: How can ABC Steel Company avoid delays in the production and delivery of the products to the customer? II.STATEMENT OF THE OBJECTIVE To strictly comply with the stated delivery schedule requirement of the customer in recently placed orders and fully accomplish the backlogs within three (3) months. III.AREAS OF CONSIDERATION A.STRENGTH 1.ABC Company was one of the country’s largest producers of fabricated steel products. The company fabricated and installed storage tanks, mine and cane car bodies, dump bodies, boats and many types of structural steel. 2. ABC has the capability to produce top quality steel products. B.WEAKNESSES 1.ABC Company has an inaccurate labor and materials estimates; 2.The targets were unrealistic; 3.Shifts in manpower requirements were not anticipated; 4.There were no consistent â€Å"follow-up† policies; 5.Poor planning and scheduling of manpower and machineries; 6.Shortage of skilled manpower that produces top quality products; 7.View of subordinates that Mr. Rober Cruz lacked management experience; 8.Authority of leadmen and supervisors is being disregarded by their subordinates; 9.Discipline problems among workers; and 10.Lax in the implementation of company’s rules and regulations. 11.Production backlog C.OPPORTUNITIES 1.ABC’s known credibility in producing high quality fabricated steel products can still be used to generate other leading consumers in the market. D.THREATS 1.Bankruptcy in another five months; 2.Industry’s awareness of ABC’s situation/inefficiency; 3.Decrease in customer loyalty 4.Other companies in the same product line that target the delivery schedule of its customers IV.ASSUMPTION/S A.The machineries used by the company are in good condition and are sufficient enough to meet production requirements. B.No price increase in commodities. C.Workers will coordinate with their supervisor in terms of work attitudes V.ALTERNATIVE COURSES OF ACTION A.Conduct meeting with Department Heads B.Resources and personnel maximization C.Sub-contracting VI.ANALYSIS ADVANTAGEDISADVANTAGE Better understanding of company’s situation Pin-point the source of the problem thru representations of the Heads in their respective departments. Encourage participation of concerned personnel in decision-making Time consuming Adjustment difficulty Avoid idle times of machines Avoid fraternizing during work hours Completion of backlogs/increased in production Higher cost for maintenance and utilities Acquiring the services of company with expertise on the goods / services required. Division of labor Less profit VII.CONCLUSION AREA’SACA ABC Adaptability332 Timeliness332 Cost Effectiveness321 Manageability332 Total12117 Legend: 1 – Good, 2 – Better; and 3 – Best VIII.RECOMMENDATION:ACA A IX.DETAILED PLAN OF ACTION ACTIVITIESPERSONS INVOLVEDRESOURCESTIME FRAME 1.Conduct management review meetingRudyard delos Santos and Department HeadsMeeting expenses-Weekly (until the completion of the backlogs); and -Once every months (routine schedule). 2. Strict implementation of management review meeting agreements (e.g. Status reports)Department HeadsMeeting expensesAs required. 2. Conduct Leadership trainings and seminar for Completed Staff Work Managers and StaffAt least 2 training per semester (1 internal and 1 external trainings) 3.Creative an incentive scheme (e.g. Star Performer of the month) with incentive bonus StaffEvery month 4. Create a Performance Evaluation CommitteeManagers/SupervisorsBefore end of the year 5.Conduct of Team Building activitiesManagers, Staff, Department headsCultural expenseQuarterly – all department

Thomas Edison Essay (for Kids) Research Paper Example

Thomas Edison Essay (for Kids) Research Paper Example Thomas Edison Essay (for Kids) Paper Thomas Edison Essay (for Kids) Paper Essay Topic: Kids Thomas Edison Imagine a world without light being produced by light bulbs. This would be the world we would be living in, had it not been for one scientist who made all the deference: Thomas Edison. Great inventor and scientist, Edison shed light on the world. Thomas Edison was born February 11, 1847, In Milan, Ohio. He was one of seven children, him being the seventh and last. During his school days, his mind wandered. This was probably one reason why his teachers called him addled. Another reason may be that he asked too many questions In class, proof of his brilliance. As soon as his mother heard of this, she took him out of school, and taught him herself. In fact, later on In his life, he thought back and said, My mom was the making of me. Editions mother bought him several science and chemistry sets, all of which he finished In a week. They had known, of course, that Thomas was different, but now they knew he was way more than that. One factor that had both a positive and negative effect was his poor hearing. Somehow, he learned better without the ability to hear properly. By age 12, he was already starting business. His main thing was selling newspapers for the local railroad, but there were other jobs, like selling snacks, candy, fruits, and vegetables. Thomas childhood was as special and significant as the rest of his life. Genius is one percent inspiration, and 99 percent perspiration. This is the famous speech of Thomas Edison in his early adulthood. By age 20, he received his first patent for a phonograph. When trying to improve the efficiency of a telegraph, Thomas could hear words when played fast. Then, he played around with a loophole to get words out clearer. This in turn brought the world the phonograph. The creation of the light bulb was the greatest challenge in Thomas life. Edison didnt really invent it as much as he improved a 50-year old idea that never worked. Finally, after 1. 5 years of hard work, he succeeded in designing the incandescent light bulb. Now, his hearing was completely lost in his left ear, and 85% gone in his right. His success, though, had brought fame and fortune. In 1879, the Menlo Park laboratory complex was finished. He then spent the next few years creating the electric Industry. Working with the telephone, he got a patent for It Minion. All of his work started in Newark, New Jersey. All through his adulthood, Edison worked very hard to make a living by Inventing and experimenting. We have digital cameras, which most of us are really fond of. You should be thanking Thomas Edison for It. He made the first motion camera In 1896. Without him, we couldnt watch movies, or take photographs. Eve though he was older at this time, he was still In business for Inventing. Ever since the Incandescent light bulb, he thought everyone would have them as lightly. When he visited the Milan house, he was shocked to see it was still lit by candles and lamps. Just months before he died, he drove a railroad run on electricity. Thomas Edison died October 18, 1931. He such a respected man, that when he was buried, everyone dimmed their lights in respect. Thomas Edison proved his speech. He was a very hardworking man, right to the end. Walkout ml, we would De living In a world AT possible. Darkness . He mace electricity

The California Dream in Nathanael Wests The Day of the Locu essays

The California Dream in Nathanael Wests The Day of the Locu essays All four of Wests novels are in some way or another a reaction to the Great Depression. Of these four novels, The Day of the Locust has been the most influential. At the time of its publication, it was not appreciated very much, nor was it understood. It was not until the 1950s that it became a valued novel, and nowadays it is regarded as one of the best Hollywood novels ever. In The Day of the Locust, West makes clear that besides the American Dream, there is also a California Dream. The two are closely linked together. According to the Longman Dictionary of English Language and Culture, the American Dream is the idea that the US is a place where everyone has the chance of becoming rich and successful. The California Dream, however, is more or less the Hollywood image, anyone can make it in Hollywood. Jim Tejani explains in his essay: Into this admixture of cultural tumult, West arrived in 1938. Its mood and nuance were to become the subject of his lifes final work, initially entitled The Cheated but renamed The Day of the Locust. By the time West started writing the novel, he had not been living in California for a long period of time, but his impressions must have been so striking that he was able to judge it quite strongly. Wests commentary on the California Dream is the main theme of the novel, it brings an apocalyptic message. Tejani also has a v iew on this: Observing the ascendant film and mass cultures of the thirties, West confronted in California the empty promise of consumerism and predicted that the resulting alienation and boredom would midwife society's destruction. Turning to the novel itself, the apocalyptic message is very much present. The title of the novel reveals much of this. The Longman Dictionary explains that the locust is an Asian and African insect which flies [...] in large groups, eating and destroying crops over ...

Julius Caesars Rise to Power in the Roman Republic

Julius Caesars Rise to Power in the Roman Republic By the time of the First Triumvirate, the republican form of government in Rome was already on its way to monarchy. Before you get to the three men involved in the triumvirate, you need to know about some of the events and people that led to it: During the era of the late Republic, Rome suffered through a reign of terror. Terrors tool was a new one, the proscription list, by which large numbers of important, wealthy people, and often senators, were killed; their property, confiscated. Sulla, Roman dictator at the time, instigated this carnage: Sulla now busied himself with slaughter, and murders without number or limit filled the city. Many, too, were killed to gratify private hatreds, although they had no relations with Sulla, but he gave his consent in order to gratify his adherents. At last one of the younger men, Caius Metellus, made bold to ask Sulla in the senate what end there was to be of these evils, and how far he would proceed before they might expect such doings to cease. We do not ask thee, he said, to free from punishment those whom thou hast determined to slay, but to free from suspense those whom thou hast determined to save.Although when we think of dictators we think of men and women who want enduring power, a Roman dictator was: A legal officialDuly nominated by the SenateTo handle a major problem,With a fixed, limited term. Sulla had been dictator for longer than the normal period, so what his plans were, as far as hanging onto the office of dictator went, were unknown. It was a surprise when he resigned from the position of a Roman dictator in 79 B.C. Sulla died a year later. The confidence which he reposed in his good genius... emboldened him... and though he had been the author of such great changes and revolutions of State, to lay down his authority....Sullas reign drained the Senate of power. The damage had been done to the republican system of government. Violence and uncertainty allowed a new political alliance to arise. Beginning of the Triumvirate Between the death of Sulla and the beginning of the 1st Triumvirate in 59 B.C., 2 of the wealthiest and most powerful remaining Romans, Gnaeus Pompeius Magnus (106-48 B.C.) and Marcus Licinius Crassus (112-53 B.C.), grew increasingly hostile to each other. This wasnt simply a private concern since each man was backed by factions and soldiers. To avert civil war, Julius Caesar, whose reputation was growing because of his military successes, suggested a 3-way partnership. This unofficial alliance is known to us as the 1st triumvirate, but at the time was referred to as an amicitia friendship or factio (whence, our faction). They divvied up the Roman provinces to suit themselves. Crassus, the capable financier, would receive Syria; Pompey, the renowned general, Spain; Caesar, who would soon show himself to be a skilled politician as well as a military leader, Cisalpine and Transalpine Gaul and Illyricum. Caesar and Pompey helped cement their relationship by Pompeys marriage to Caesars daughter Julia. End of the Triumvirate Julia, the wife of Pompey and daughter of Julius Caesar, died in 54, passively breaking the personal alliance between Caesar and Pompey. (Erich Gruen, author of The Last Generation of the Roman Republic argues against the significance of the death of Caesars daughter and many other accepted details of Caesars relations with the Senate.) The triumvirate further degenerated in 53 B.C., when a Parthian army attacked the Roman army at the Carrhae and killed Crassus. Meanwhile, Caesars power grew while in Gaul. Laws were altered to suit his needs. Some senators, notably Cato and Cicero, were alarmed by the weakening legal fabric. Rome had once created the office of tribune to give the plebeians power against the patricians. Among other powers, the tribunes person was sacrosanct (they couldnt be harmed physically) and he could impose a veto on anyone, including his fellow tribune. Caesar had both tribunes on his side when some members of the senate accused him of treason. The tribunes imposed their vetoes. But then the senate majority ignored the vetoes and roughed up the tribunes. They ordered Caesar, now charged with treason, to return to Rome, but without his army. Julius Caesar returned to Rome with his army. Regardless of the legitimacy of the original treason charge, the tribunes had vetoed, and the disregard for the law involved in violating the tribunes sacrosanctity, the moment Caesar stepped across the Rubicon river, he had, in legal fact, committed treason. Caesar could either be convicted of treason or fight the Roman forces sent to meet him, which Caesars former co-leader, Pompey, led. Pompey had the initial advantage, but even so, Julius Caesar won at Pharsalus in 48 B.C. After his defeat, Pompey fled, first to Mytilene, and then to Egypt, where he expected safety, but instead met his own death. Julius Caesar Rules Alone Caesar next spent a few years in Egypt and Asia before returning to Rome, where he began a platform of reform. Julius Caesar granted citizenship to many colonials, thus widening his base of support.Caesar granted pay to Proconsuls to remove corruption and gain allegiance from them.Caesar established a network of spies.Caesar instituted a policy of land reform designed to take power away from the wealthy.Caesar reduced the powers of the Senate so as to make it an advisory council only. At the same time, Julius Caesar was appointed dictator for life (in perpetuity) and assumed the title of imperator, general (a title given ​to a victorious general by his soldiers), and pater patriae father of his country, a title Cicero had received for suppressing the Catilinarian Conspiracy. Although Rome had long abhorred a monarchy, the title of rex king was offered him. When the autocratic Caesar rejected it at the Lupercalia, there were grave doubts about his sincerity. People may have feared he would soon become king. Caesar even dared to put his likeness on coins, a place suitable for the image of a god. In an effort to save the Republic although some think there were more personal reasons 60 of the senators conspired to murder him. On the Ides of March, in 44 B.C., the senators stabbed Gaius Julius Caesar 60 times, beside a statue of his former co-leader Pompey. Sources (www.herodotuswebsite.co.uk/roman/essays/1stTriumvirate.htm) How and why did the so-called First Triumvirate come into being? Suzanne Cross: [web.mac.com/heraklia/Caesar/gaul_to_rubicon/index.html]Gaul to the Rubicon The Rise of Julius Caesar www.republic.k12.mo.us/highschool/teachers/tstephen/ 07/13/98

What new things might just work in Corrections Essay

What new things might just work in Corrections - Essay Example be to ensure that all officers are not only satisfied, but also that the inmates are allowed to have a chance to reform and adapt themselves into the society once they are released. It has become essential for there to be some improvement in the management of correctional facilities because without it, it is most likely that the conditions within them might continue to deteriorate. Correctional facilities in the United States have undergone serious management issues over the past decades and this has been as a result of the many blunders that administrators have made when carrying out their duties. Because of such circumstances, correctional facilities have ended up being highly understaffed while at the same time being an unsafe place for both officers and inmates. Therefore, it is necessary to initiate reforms in correctional facilities because, despite there being places where convicts are kept away from society, they are also small communities which have to be well managed to ensure that there is harmony. It has been recognised that there is a need for leadership in the management of correctional facilities since this is the only way through which their managements will be able to effectively ensure the well being of all those who live or work within them (Jung, Wu & Chow, 2008). Leadership has to be shown by prison management when dealing with the safety of the guards because of circumstances where they have to deal with criminals who are potentially violent so that they are not in any way endangered. Leadership is also necessary in cases where there is a potential of prisoners either harming themselves or others and this should be through the provision of psychological, health, and recreational facilities which help them in all manner of their lives. Management is the running of an institution using the established apparatus without necessarily having to make any changes. In most circumstances, management is often to blame in case of either the long term

Business Continuity and Disaster Management for Aviation Essay

Business Continuity and Disaster Management for Aviation - Essay Example A significant event or crisis refers to such events, where there is a pressing need for an immediate and novice response, with the aim of lessening the adverse effects taking place in the reputation, profitability and the operations of the airport. This paper will examine the particular problems that affected Heathrow airport frequently and the effects felt by the airport, British airways and the UK aviation industry as a whole. Additionally, the paper will examine the steps that could be taken to minimize the effects of adverse weather and the outcomes that the new strategy would yield, for the wide array of industry stakeholders. Airports are highly intricate systems and are very essential to the effective transit of people and goods across the globe. In addition, airports are significant employment hubs, which allow them to work as economic drivers for surrounding regions; support businesses by facilitating the transit of goods and people, foster trade and support tourism. Despite the fact that airports have remained a critical link to the stability of natural infrastructural models, they have also been identified as highly vulnerable to a variety of external and internal disturbances. All of the internal and the external disturbances affecting the performance of airports impact or even limit the normality of airport operations. One of the recent events that gave evidence about the adverse effects of airport disturbances was the failure of the systems and the performance of London Heathrow’s Terminal 5, after it was launched. The newly opened airport building suffered from significant failures in the performance of operational and passenger-specific functions (Brady & Davies, 2010). The failures led to the cancelation of more than 34 flights in a day, after the start of the launch of operations and the cancelation of flights left

Health Care Reform Research Paper Example | Topics and Well Written Essays - 1250 words - 1

Health Care Reform - Research Paper Example It was in this context that new health care reforms were introduced. These reforms have given America's people, lots of rights and benefits regarding their health options but also have brought in some inconveniences along with that. The need for reforms Ten years back, around 45 million Americans were still outside insurance coverage (Garson). Kronenfeld and Kronenfeld have observed that â€Å"health care reform, or modification of the US health care system so that affordable, high-quality health care services are available to every one, is a public policy issue that has received discussion in the United States off an on since World War II† (1). One major criticism that arose from the period of George Bush’s Presidentship was that, â€Å"once the events of September 11, 2011, and the war with Iraq in 2003 led to a greater focus on international concerns and terrorism, the prominence of health care issues became fairly low† (Kronenfeld and Kronenfeld, 1). It was i n this backdrop that public demand arose for a health care reform. The 'Acts' The health reforms comprise of two bills (The Economist). Patient Protection and Affordability Care Act became was introduced and adopted in March 2010 (Healthcare.gov). The second has been a â€Å"reconciliation† act which was added to the reform package to compensate some of the pitfalls in the initial act (The Economist). This reform has been termed as the â€Å"biggest reform of health care in the country for 40 years† (BBC). This reform has also been hailed as an act to end â€Å"some of the worst abuses of the insurance industry† (Healthcare.gov). The government sponsored web site, Healthcare.gov, has also described this act in terms of its benefits to the citizens in the following words: These reforms will give Americans new rights and benefits, including helping more children get health coverage, ending lifetime and most annual limits on care, and giving patients access to reco mmended preventive services without cost-sharing. These reforms will apply to all new health plans, and to many existing health plans as they are renewed. Many other new benefits of the law have already taken effect, including rebate checks for seniors in the Medicare donut hole and tax credits for small businesses. Advantages This new law has also extended â€Å"the life of the Medicare Trust fund at least 12 years† thereby benefiting the senior citizens (Healthcare.gov). This is supposed to be brought about by â€Å"reducing waste, fraud and abuse, and slowing cost growth in Medicare† (Healthcare.gov). The expectation is that, â€Å"this will provide [the beneficiaries][†¦] with future cost savings on [†¦] premiums and coinsurance† (Healthcare.gov). One ambitious declaration made by President Barek Obama has been that medicare fraud will be reduced by â€Å"50 percent by 2012† (Healthcare.gov). Another major feature of this act has been that i t, â€Å"starting in 2014, the Affordable Care Act offers additional protections for Medicare Advantage Plan members by taking strong steps that limit the amount these plans spend on administrative costs, insurance company profits, and things other than health care†

Employee Benefits Essay Example | Topics and Well Written Essays - 750 words

Employee Benefits - Essay Example Companies also offer these benefits as acts of appreciation in order to take care of the well being of its human capital. The purpose of this paper is to study different types of employee benefits and its how they can be utilize as part of a company’s strategic plan. Two types of mandatory fringe benefits that employees working for companies receive are social security and unemployment insurance benefits. Companies match the 7.65% percent employees pay to the federal government for their social security pension plan and Medicare benefits. The unemployment insurance is an insurance the employer buys from a governmental agency that pays employees money in case the employee gets fired for up to year on a bi-weekly basis. Other mandatory benefits employees received from companies are a certain amount of sick days and vacation days per year. The typical approximate benefit of accumulated vacation and sick days is ten sick days a year ten vacation days per year. The other types of benefits companies can offer are voluntary benefits to their employees. A benefit package a company can offer to their employees includes benefits such as health plan, dental plan, company cars, gas allowance, Christmas bonus, flexible time, tuition assistance, training and development opportunities, child day care, elderly care and credit unions among others. A total package of benefits is offered by companies for two main strategic reasons. These two strategic objectives are to enable a company to recruit top talent and in order to retain trained employees in the firm. Offering benefits such as child day care is a very valuable benefit for a single mother. It enables these women to work, while having the reassurance that their children are receiving a proper care which at times costs thousands of dollars a month. A health plan is a benefit that protects the health of the employees and provides the medical financial assistance needed in those times when employees

2 questions about Baroque and Rococo style Essay

2 questions about Baroque and Rococo style - Essay Example Baroque style also made the pictorial space extend infinitely, similar, and cosmologic concept that gained popularity in seventeenth century. Baroque style created satisfying relationship between depth and height as well as creating transition from dark to light. Baroque style widely used exaggerated and direct emotional involvement to produce drama that was encouraged by the Roman Catholic Church. The artists portrayed Christians as people from lower classes and down to earth approach to offend most viewers who believed that religious figures should be portrayed as idealized to signify their holiness. Linear style which was mostly used in Baroque was considered the best model in the modern painting. Classical landscape and the desire to appeal to the emotional states by appealing to the senses were also embraced. The following artwork shows the examples of Baroque style. Rocco art style is believed to have originated from France and was mainly used for interior design where painting and decoration characterized b lightness, delicacy and elaborate ornamentation was involved. Although its exact origin is obscure, the style corresponds roughly to the reign of King Louis XV of France and began with the French designer Pierre Lepautre who introduced arabesques and curves into the interior architecture of the royal residence to break with the heroic Louis XIV style. This style was as a representation of higher domestic life in the superior class individuals in the society. Rococo style included elegant dressings.

Interpersonal Communication Assignment Example | Topics and Well Written Essays - 1250 words

Interpersonal Communication - Assignment Example The script illustrated that there are various ways to understand what people are thinking or feeling at the moment through the interpersonal mode of communication. The components that will be studied in this paper that relates to the script are 1) verbal 2) vocal 3) nonverbal and 4) visual mode of communication 3. Collectivist – collectivist or group think in interpersonal communication where individual members of a group identify with the perspective, opinion, world view and emotional disposition of the dominant member of the group. 5. High-context – the cultural ecosystem of which an individual operates. Language of high context interpersonal communication needs to be interpreted according to the cultural environment or context of the individual. There are several interpersonal communication elements used in the script beginning from the child and the parents to the employees of the store. These interpersonal communication elements in the script fall into the category of culture are; A. High context – context is the lens of how people see and understand the world around them. In messages, it is their filter or vocabulary in understanding people. Interpersonal communication are often high context communication or involving a great deal of understanding about the feelings, thoughts and intent of the sender. It requires a great deal of communication agility on both the sender and receiver to be able to send comprehensible interpersonal messages (on the part of the sender) and to understand such coded messages on the part of the receiver. In the script, the misunderstanding between the parent and the child in the opening of the script was very obvious with how they argue with the music because of differing context of both parties which they are trying to impose on the other. Both party, the child and the parent has different contexts of what is a good music which caused disagreement. For the parents, their idea of a good music is classical

2 questions about Baroque and Rococo style Essay

2 questions about Baroque and Rococo style - Essay Example Baroque style also made the pictorial space extend infinitely, similar, and cosmologic concept that gained popularity in seventeenth century. Baroque style created satisfying relationship between depth and height as well as creating transition from dark to light. Baroque style widely used exaggerated and direct emotional involvement to produce drama that was encouraged by the Roman Catholic Church. The artists portrayed Christians as people from lower classes and down to earth approach to offend most viewers who believed that religious figures should be portrayed as idealized to signify their holiness. Linear style which was mostly used in Baroque was considered the best model in the modern painting. Classical landscape and the desire to appeal to the emotional states by appealing to the senses were also embraced. The following artwork shows the examples of Baroque style. Rocco art style is believed to have originated from France and was mainly used for interior design where painting and decoration characterized b lightness, delicacy and elaborate ornamentation was involved. Although its exact origin is obscure, the style corresponds roughly to the reign of King Louis XV of France and began with the French designer Pierre Lepautre who introduced arabesques and curves into the interior architecture of the royal residence to break with the heroic Louis XIV style. This style was as a representation of higher domestic life in the superior class individuals in the society. Rococo style included elegant dressings.

Adams vs. Jefferson and Liberty, Equality and Power Essay

Adams vs. Jefferson and Liberty, Equality and Power - Essay Example A large section of the book portrays the Election of 1800 as the culmination of a political movement which witnesses the obliteration of the Revolutionary consensus, increase in activity of prepared ideologically guided parties. Ferling engages the reader through his detailed and appealing narrative, simultaneously describing the political imperatives of that era. The book takes the reader into the contextual depths of the election. Ferling explains that the election of 1800 was actually a tumultuous clash of two different campaigns, both at their pinnacles; this clash actually led to the crisis which set the US political stability on the verge collapse. (Pound)A superb analysis of the interaction between economic, social, moral, political, cultural and ideological factors has been inked in the book, explaining how these factors made the late 1850s such a chaotic period. The book covers the whole of social history, particularly in terms of ethnicity. The book offers its readers a com prehensive and brief understanding of the journey undertaken by America which transformed the country of hunters and farmers to a mightiest industrial nation existing on this earth. The author draws the comprehension of the reader by narrating the story of three major themes running throughout the history: liberty, equality and power.

Nature of Linguistic Sign by Ferdinand de Saussure Essay Example for Free

Nature of Linguistic Sign by Ferdinand de Saussure Essay 1. Sign, Signified Signifier Some people regard language, when reduced to its elements as a naming-process onlya list of words, each corresponding to the thing that it names. For example: operationan assumption that is anything but true. But this rather naive approach can bring us near the truth by showing us that the linguistic unit is a double entity, one formed by the associating of two terms. We This conception is open to criticism at several points. It assumes that ready-made ideas exist before words; it does not tell us whether a name is vocal or psychological in nature (arbor, for instance, can be considered from either viewpoint); finally, it lets us assume that the linking of a name and a thing is a very simple have seen in considering the speaking-circuit that both terms involved in the linguistic sign are psychological and are united in the brain by an associative bond. This point must be emphasized. The linguistic sign unites, not a thing and a name, but a concept and a sound-image. The latter is not the material sound, a purely thing, but the psychological imprint of the sound, the impression that it makes on our senses. The sound-image is sensory, and if I happen to call it â€Å"material,† it is only in that sense, and by way of opposing it to the other term of the association, the concept, which is generally more abstract. The psychological character of our sound-images becomes apparent when we observe our own speech. Without moving our lips or tongue, we can talk to ourselves or recite mentally a selection of verse. Because we regard the words of our language as sound-images, we must avoid speaking of the â€Å"phonemes† that make up the words. This term, which suggests vocal activity, is applicable to the spoken word only, to the realization of the inner image in discourse. We can avoid that misunderstanding by speaking of the sounds and syllables of a word provided we remember that the names refer to the sound-image. The linguistic sign is then a two-sided psychological entity that can be represented by the drawing: The two elements are intimately united, and each recalls the other. Whether we try to find the meaning of the Latin word arbor or the word that Latin uses to designate the concept â€Å"tree,† it is clear that only the associations sanctioned by that languageappear to us to conform to reality, and we disregard whatever others might be imagined. Our definition of the linguistic sign poses an important question of terminology. I call the combination of a concept and a sound-image a sign, but in current usage the term generally designates only a sound-image, a word, for example (arbor, etc.). One tends to forget that arbor is called a sign only because it carries the concept â€Å"tree,† with the result that the idea of the sensory part implies the idea of the whole. Ambiguity would disappear if the three notions involved here were designated by three names, each suggesting and opposing the others. I propose to retain the word sign [signe] to designate the whole and to replace concept and sound-image respectively by signified [signifià ©] and signifier [signifiant]; the last two terms have the advantage of indicating the opposition that separates them from each other and from the whole of which they are parts. As regards sign, if I am satisfied with it, this is simply because I do not know of any word to replace it, the ordinary language suggesting no other. The linguistic sign, as defined, has two primordial characteristics. In enunciating them I am also positing the basic principles of any study of this type. 2. Principle I: the Arbitrary Nature of the Sign The bond between the signifier and the signified is arbitrary. Since I mean by sign the whole that results from the associating of the signifier with the signified, I can simply say: the linguistic sign is arbitrary. The idea of â€Å"sister† is not linked by any inner relationship to the succession of sounds s-ïÆ'Ëœ-r which serves as its signifier in French; that it could be represented equally by just any other sequence is proved by differences among languages and by the very existence of different languages: the signifiedâ€Å"ox† has as its signifier b-ïÆ'Ëœ-f on one side of the border and o-k-s (Ochs) on the other. No one disputes the principle of the arbitrary nature of the sign, but it is often easier to discover a truth than to assign to it its proper place. Principle I dominates all the linguistics of language; its consequences are numberless. It is true that not all of them are equally obvious at first glance; only after many detours does one discover them, and with them the primordial importance of the principle. One remark in passing: when semiology becomes organized as a science, the question will arise whether or not it properly includes modes of expression based on completely natural signs, such as pantomime. Supposing that the new science welcomes them, its main concern will still be the whole group of systems grounded on the arbitrariness of the sign. In fact, every means of expression used in society is based in principle on collective behavior orwhat amounts to the same thingon convention. Polite formulas, for instance, though often imbued with a certain natural expressiveness (as in the case of a Chinese who greets his emperor by bowing down to the ground nine times), are nonetheless fixed by rule; it is this rule and not the intrinsic value of the gestures that obliges one to use them. Signs that are wholly arbitrary realize better than the others the ideal of the semiological process; that is why language, the most complex and universal of all systems of expression, is also the most characteristic; in this sense linguistics can become the master-pattern for all branches of semiology although language is only one particular semiological system. The word symbol has been used to designate the linguistic sign, or more specifically, what is here called the signifier. Principle I in particular weighs against the use of this term. One characteristic of the symbol is that it is never wholly arbitrary; it is not empty, for there is the rudiment of a natural bond between the signifier and the signified. The symbol of justice, a pair of scales, could not be replaced by just any other symbol, such as a chariot. The word arbitrary also calls for comment. The term should not imply that the choice of the signifier is left entirely to the speaker (we shall see below that the individual does not have the power to change a sign in any way once it has become established in the linguistic community); I mean that it is unmotivated, i.e. arbitrary in that it actually has no natural connection with the signified. 3. Principle II: the Linear Nature of the Signifier The signifier, being auditory, is unfolded solely in time from which it gets the following characteristics: (a) it represents a span, and (b) the span is measurable in a single dimension; it is a line. While Principle II is obvious, apparently linguists have always neglected to state it, doubtless because they found it too simple; nevertheless, it is fundamental, and its consequences are incalculable. Its importance equals that of Principle I; the whole mechanism of language depends upon it. In contrast to visual signifiers (nautical signals, etc.) which can offer simultaneous groupings in several dimensions, auditory signifiers have at their command only the dimension of time. Their elements are presented in succession; they form a chain. This feature becomes readily apparent when they are represented in writing and the spatial line of graphic marks is substituted for succession in time. Sometimes the linear nature of the signifier is not obvious. When I accent a syllable, for instance, it seems that I am concentrating more than one significant element on the same point. But this is an illusion; the syllable and its accent constitute only one phonational act. There is no duality within the act but only different oppositions to what precedes and what follows.

Impact Of The Monetary Policies

Impact Of The Monetary Policies Introduction Through a literature review, this chapter aims to explore the impact of the monetary policies and regulations on bank risks and their operations in Zimbabwe. Section 2.1 will give a brief over view of Zimbabwe and Section 2.2 will discuss the Zimbabwean economy. Section 2.3 will outline a background on the rationale of financial regulation through the exploration of the Basle Accord II. In section 2.4, financial regulation in Zimbabwe and its influence to the economy will be examined. An overview of the banking system and the type of risks it is exposed to will be considered in section 2.5. Section 2.6 will explore the Zimbabwean banking system and its major challenges also linking these to the country„Â ¢s financial regulation. In section 2.7 the author discusses Enterprise Risk Management (ERM) which is an integrated and holistic risk management framework that organisations are encouraged to use as a change management strategy for managing risks. Section 2.8 will finally sum marise this chapter. Overview of Zimbabwe Zimbabwe (formerly Rhodesia) is a landlocked country in south-central Africa. It lies between the Zambezi River which in the north and the Limpopo River in the south. Its neighbouring countries are Zambia, South Africa, Mozambique and Botswana. Zimbabwes capital city, Harare, is located in the northeast part of the country (Coltart 2008). Zimbabwe gained its independence from Britain in 1980 after a long armed struggle led by the leading party, Zimbabwe African National Union Patriotic Front known as ZANU-PF, (Makumbe, 2002). It has a population of 13,349,00 people with a gross domestic product that is estimated to have fallen by about 14% in 2008 due to economic disruptions caused by hyperinflation and the further deterioration in the business climate (World Bank 2008). The economy of Zimbabwe Chitiga (2004) contends that agriculture plays a central role in the economic performance of Zimbabwe. The agricultural sector is important to the economy for several reasons (Christiansen 1993).In the 1980s, it was the major employer, employing a total of over 70% of the country„Â ¢s population. The sector continues to be a major employer to this day. In Zimbabwe, droughts continue to be a major problem and raises concern about food security (Chitiga 2004). However despite the ever changing weather patterns affecting the agriculture sector in Zimbabwe, Coltart (2004) notes that agriculture the mainstay of the economy was all but destroyed by the politically expedient and violent land reform program initiated by the ZANU PF government in 2000. Collapse of Zimbabwean economy Coorey et al( 2007) argues that, while the initial output collapse is widely attributed to the chaotic seizure of commercial farms in Zimbabwe which is the backbone of the economy, other factors have also contributed in recent years to the county„Â ¢s collapse which include; 1) high and accelerating inflation of 230 000 000% in 2008, 2) price distortions due to extensive controls and regulation, particularly relating to the exchange rate which is fixed by the Reserve Bank of Zimbabwe (RBZ) at a highly overvalued rate, 3) the collapse of investor confidence due to unpredictable policies and lack of respect for property rights, particularly in agriculture and mining and 4) minimal external financing because of poor relations with creditors and donors and deteriorating economic and social conditions. (Munoz 2006, Dore et al 2008, Hanke 2008) argue that the RBZ„Â ¢s polices such as printing of money, quasi-fiscal activities by the RBZ, have specifically caused the economic instability in Zimbabwe. The consensus amongst these authors is that the country„Â ¢s government policies alongside with the central bank have played a major role in causing hyperinflation which rose to 230 000 000% in 2008. Coltart (2004) highlights that the government is chiefly responsible for an economic meltdown. Muponda (2008) notes that Zimbabwe„Â ¢s inflation was driven higher by the central banks lack of independence from the government. Therefore the banks policies have been primarily dictated by the government. The RBZ has been forced to be financier of first choice and literally print money to fund its the quasi fiscal activities.. The challenges faced by Zimbabwe have been contributed by various factors including, the land reform programme in 2000 (Coorey et al 2007), political unrest in the country which has isolated the country from the global community through sanctions and withdrawal of investments and international business community. Research by Cukierman (2001) and the IMF (1996) suggest that countries accorded greater autonomy to their central banks also experienced lower average inflation whilst those economies where there is no central bank independence have higher inflation rates. The influence of the government on the RBZ has resulted in the bank implementing unorthodox monetary practices such as printing of money which has fuelled hyperinflation. Hanke (2008) refers to hyperinflation as the hallmark of Zimbabwe„Â ¢s economic collapse. The state of the Zimbabwean economy has undergone, major changes with major economic and political reforms implemented by government officials to restore the economic soundness of the country in the year 2009. There is the use of multi currencies in the country as the economy was officially dollarized by the central bank in February 2009 resulting in the removal of the local currency (RBZ 2009). Since the adoption of multiple currencies, deposits into the banking system have grown to US$705.7 million by 3 June 2000 (Government of Zimbabwe 2009). Already, the economy is on a recovery path as reflected by macro-economic stability, inflation reduction, enhanced capacity utilisation, resulting in improved supply of goods and services as well as overall growing business confidence (Biti 2009). Financial Regulation Effective regulation is of fundamental importance for the economic performance of any sector in the economy to address market failure (Jalilian et al 2003). The mishaps and failure of large corporate institutions in the financial sector have caught the attention of regulators, who have taken a more stringent regulatory approach in the financial sector. In recent years, a number of financial crises have brought about a large number of bank failures (Casu et al 2006), such as Barings Bank in 1995 and Northern Rock in 2007. Likewise the banking crises in the early 1980s and early 1990s have shown that banks experience problems which create a potential threat to depositors, investors and the safety of the industry with unpleasant consequences for the economy as a whole (Caprio and Klingebiel 2003). Financial regulation focuses on the factors that are essential to the stability and well being of the financial sector (Stewart 2001). The susceptibility of banks to contagion creates systemic risk which is the risk that disturbances in a financial institution or market will spread across the financial system (Heffernan 2005). It is the role of the central bank to implement measures to shield the country„Â ¢s economy from being affected by the results of the crises. Stiglitz (2000) contends that the aim of regulators is to minimise the possibility of a breakdown in the financial sector and prevent any adverse effects on the long term growth rate in the economy. In some instances government have had to rescue banks to avoid the crises from spreading to other banks and affecting depositors as well.. Restrictions on bank activities, risk adjusted minimum capital requirement, direct intervention of managers decisions are three basic devices that can be applied by regulators to control bank risks (Fenandez and Gonzalez 2005). Minimum capital requirements Various authors (Besanko and Kanatas 1996, Calem and Rob 1999) however argue that regulations such as minimum capital requirements are likely to increase the risk taking behaviour of banks. According to Kendall (1992) higher capital requirements may cause riskier bank behaviour at some point in time, although it does not necessarily imply a trend towards a riskier banking system. Beatty and Gron (2001) indicate that capital regulatory variables have significant effects for low-capital banks but not necessarily for other banks. Studies by Barth et al. (2004) also indicate that while more stringent capital requirements are associated with fewer non performing loans, capital stringency is not robustly linked with banking crises or bank development or efficiency when controlling for other supervisory and regulatory policies. Bank Regulations Bank authorities regularly attempt to promote bank soundness by imposing restrictions on banks activities (Constantin et al, 2006). In their research, Constantin et al (2006) found that restricting bank activities is negatively associated with bank development and stability. Barth et al. (2001) found that greater regulatory restrictions on bank activities are associated with higher probability of suffering a major banking crisis, and lower banking sector efficiency. Lascelles (2005) adds that a survey conducted by Pricewaterhouse Coopers found that excessive regulation was seen as the greatest risk facing the financial sector. However in contrast to this, Fernandez and Gonzalez (2005) indicate that stricter restrictions on bank activities are effective at reducing banking risk. It would appear overall that restrictions on banking activities forms as a basis of ensuring that banks do not divert from their core business and conduct sound banking practices. Basle Accord It is because of problems such as the financial crises that the Basle Accord II emphasises on the supervisory role of the regulator. In June 1999, the Basle Committee on Banking Supervision made its long anticipated announcement to introduce a new capital accord to introduce a new capital adequacy framework to replace the 1988 Accord (Ong 2005). This framework was then finalised in June 2004. Cai and Wheale (2007) note that this framework is designed to improve risk management by using models based on past performance to help set the amount of capital banks are required to hold by regulators with the purpose of improving the efficiency of the global allocation of capital. Efforts were made to initiate the new Accord as the first accord of 1988 was highly criticised for its shortcomings. risk. The new accord seeks to overcome the problems of the 1988 framework focusing on three pillars (Basel Committee 2005). Pillar 1 sets out the minimum regulatory capital requirement that is the amount of capital banks must hold against risks. This is intended to cover market risk, credit risk and operational risk. Pillar 2 defines the process for supervisory review of an institutions risk management framework and, ultimately, its capital adequacy. This pillar points out responsibilities for the board and senior management, emphasising on internal control corporate governance practices established by regulatory bodies in various countries worldwide. Sironi and Zazzara (2003) argue that this pillar gives regulators the right to inspect and supervise the activities of banks to ensure that they are adhering to the requirements of the framework Pillar 3 focuses on market discipline. In order to improve the transparency of banks to counterparties and investors, banks will be required to disclose detailed information on their risk profile and capital adequacy (Gordy and Howells 2006). The benefits of the Basle II are noted in the three pillars, as there will be enhanced disclosure, transparency and this will improve on banks risk management processes. Cai and Wheale (2005), site that banks will need to collect and disclose new information and face the implications of increased transparency. Cai and Wheale (2005) add that more information will help enable banks to improve overall risk management which in turn is expected to prompt improvements in corporate governance, transparency and the value of disclosure. Ong (2005), supports this and says that Basle II is very important and it is about improving risk management within the financial industry by providing the correct incentives for better corporate governance and fostering greater transparency. The Basle accord on the other hand is criticised for some of its shortfalls. For example the fact that the costs of Basle II are significantly high in terms of implementation and continuing basis in the long run (Gordon 2004). Banks lose their flexibility, innovation and development are interrupted. Due to the fact that limited resources are available, many risk managers will spend a long period of time on interpreting regulations, implementing the solutions and then justifying the output to supervisors (Smith and Walter 2003). Hence little time will be available for innovation and development. The compliance with laws and regulations is not able to help banks avoiding all risks. Zimbabwean Financial Regulation The Reserve Bank of Zimbabwe is responsible for the formulation; implementation and monitoring of the monetary policy directed at ensuring low and stable inflation levels (Reserve Bank Act). The RBZ does not, however have the operational independence in carrying out this responsibility, as it is required by statute to consult the Ministry of Finance (Dore 2008). This has resulted in the RBZ operating from the executive arm of the government instead of adhering to a binding legal mandate (World Bank 2007). Bade and Parkin (1982) note that political independence is defined essentially as the ability of the central bank to select its policy objectives without the influence from the government. A central bank is said to be independent of its monetary policy if it is not influenced by political cycles or by the preferences of politicians (Eljffinger and de Haan 1996). The RBZ„Â ¢s policies have been influenced by Zimbabwean political authorities therefore the bank has been lacking central bank independence. Another core function of the RBZ is to maintain stable banking system through its supervision and lender of last resort functions. Post 2003 monetary polices and regulation The turning point in Zimbabwean financial services sector was marked by the appointment of the new central bank governor in 2003. During this period the governor issued a monetary policy and financial regulations which sought to minimise non-core banking activities practiced by banking institutions (Dore 2008). The other objectives were to instil market discipline and improve corporate governance and risk management systems. As a result of the RBZ„Â ¢s severe supervisory efforts, various banking institutions experienced liquidity and solvency challenges. Consequently, nine financial institutions were placed under curatorship whilst 3 were liquidated. Banks currently face risk management challenges, economic and political uncertainties and new regulatory requirements emanating from the RBZ regulations and unstable political environment (Muponda 2008). The RBZ governor, notes in the 2009 monetary policy (Government of Zimbabwe 2009) that prior to 2003, an adverse macroeconomic environment, weak supervisory approaches, and regulatory forbearance gave rise to a number of fundamental flaws in the operations of banks. These included; 1) a shift from core banking business to speculative transactions, 2) abuse of bank holding company structures to evade regulation, 3) poor corporate governance, risk management practices and insider dealing, 4) rapid local and regional expansion with no proper internal controls, and adequate capacity and 5) disregard of prudential laws and regulations. Smith and Walter (2003) suggest that the fundamental objective of regulators is to develop frameworks and guidelines that will further strengthen the stability of banking system. This objective is achieved in promoting the adoption of these frameworks in banks. To enhance the supervisory process, the RBZ has developed and issued guidelines for the banking s ector in order to address operational and structural deficiencies prevailing in the financial sector, (Government of Zimbabwe 2009). These guidelines are shown below in table 1. Basel II implementation The Basel II implementation in Zimbabwean banking industry is still in its preliminary stages. A survey by Ernest and Young in 2005 (Lescellos 2005) shows that many banks in developed countries have come up with implementation programmes of Basle II whilst in developing countries implementation is still at the initial stages. This survey is confirmed by evidence of the current implementation status in Zimbabwe. The current guidelines setup by regulators in Zimbabwe is that all banking institutions must fully adopt standardised approaches for allocation of capital for risk (credit, market and operational). However a technical guidance on Basle II implementation in Zimbabwe will be issued in due course to provide a road map and expert guidance on full Basle II implementation in the country, (Monetary Policy 2009).This shows how slow the progress has been in the full implementation of the framework in Zimbabwe, and could be the cause of the major problems faced by country„Â ¢s th e banking industry. Cai and Wheale (2005) however report that awareness and preparation for Basel II in the emerging markets and developing countries has increased significantly over the past two years. Banking Sector It is widely accepted that the banking system has a unique position in the national economy (Heffernan 2005). A banking system that is able to operate efficiently is of crucial importance to any economy (Quagliariello 2002). The banking system must not only be efficient in carrying its role as an intermediary in the financial market but it must also be economically robust to withstand adverse shocks such as a major policy change to economic downturn. Traditional functions of banks include lending money to borrowers and taking deposits. They play a financial intermediary role of providing loans to borrowers and collecting deposits from savers (Casu et al, 2006). Poorly operating banking systems can impede economic growth, intensify poverty and destabilise the economy. These poor operations can be due to banks with inadequate risk management processes (Stiglitz 2000). Banking Risks The nature of banking activities eposes banks to the following risks Due to the nature of banking activities, they are exposed to various risks. These credit risk, market risk, liquidity risk, operational and foreign exchange risk. Credit risk The Basle Committee on Banking Supervision (2000) define credit risk as the potential that a borrower or counterparty will fail to meet its obligations in accordance with greater terms. Credit risk is associated with the traditional lending activity of banks and it is simply described as the risk of a loan being repaid in part or full (Casu et al, 2006). Liquidity risk This is the possibility that a bank will be unable to meet its liquid liabilities because of unexpected withdrawals of deposits. An unexpected liquidity shortage means that the bank is not only unable to meet its liability obligations but also unable to fund its illiquid asset (Matthews and Thompson 2008) Interest rate risk Financial intermediaries are potentially exposed to interest rate risk because of the mismatch between the maturity, or time to repricing of their assets and liabilities (Faff and Howard, 1999). The interest rate sensitivity exhibited by a financial institution will depend, in part, on the approach which its management adopts to controlling risk. Operational risk The Basel Committee on Banking Supervision in 2003, recommended the correct determination of the risks to which a banking organization is subject. This concerns, in particular, operational risks, which are all those management events that may determine unexpected losses (Cornalba and Guidici 2005). The New Basle Accord (2000) defines operational risks as the risk of loss resulting from inadequate or failed internal processes, people and systems or from external events (such as political and economic factors), including legal risk but not strategic and reputation risk. Market risk According to Matthews and Thompson (2008), market risk is the possibility of loss over a given period of time related to uncertain movement in market risk factors such as interest rates, currencies equities and commodities. Foreign exchange risk Exchange rates may change rapidly which exposes firms to foreign exchange rate risk, which is the risk that losses may arise from rises or falls in the value of a currency in terms of the domestic currency. Eichenbam and Evans (1995) suggest that there is a link between monetary policies and foreign exchange rates. Contractionary shocks to monetary policies are followed by sharp persistent increases in exchange rates, which ultimately results in foreign exchange rate risk. Other risks that affect banks include strategic, regulatory and legal and compliance risk There is a clear sense that risk exposure of the financial system has increased by changes that have taken place (Hellwig 1995). Casu et al (2006) notes that changes such as deregulation, conglomeration, and globalisation have posed serious risk challenges. Calomiris and Maso (2003) emphasise that the risk taking behaviour of banks affects financial and economic fragility. In turn regulators have undertaken greater efforts of regulation to impose new risk management standards to shape bank risk (Elsinger et al 2002). In compliance to this banks have improved their risk management systems. Examples of other regulatory reforms advocating for risk management frameworks are the Sarbanes Oxely Act of 2002, the Basle Accord II and the Committee of Sponsoring Organisations of the Treadway Commissions (COSO) Enterprise Risk Management of 2004. Zimbabwe banking sector The Zimbabwe financial sector consists of the Reserve bank, discount houses, commercial banks, merchant banks, finance houses, building societies, a development bank and the Post office savings bank, insurance companies, pension funds and a stock exchange, (Dore 2008). There are currently twenty-eight banking institutions in Zimbabwe,fifteen commercial banks, six merchant banks, three discount houses,4 discount houses and one development bank. All banks are licensed by the RBZ and regulated under the Zimbabwe Banking Act of 1999. Zimbabwe„Â ¢s financial services sector has witnessed phenomenal growth since economic deregulation in 1991 (Muranda 2006). During the period of 1991 to 2003 new domestic banks entered, financial sector. New Innovations and development have been witnessed with the introduction of new products and services within the sector. Table 1.2 below shows the banking sectors growth trend from 19992 to 2004 of financial. However the banking sector has been gripped with many challenges, which began to surface during the period of the land seizures in 2000. These policies created extremely difficult economic and political challenges for the banking industry. The IMF (2006) argues that events in the banking sector have been concurrently influenced by political factors.. The situation was heightened in 2003 by the new regulations set by the appointed RBZ governor. It was reported by Voice of America (2004) that at least six of Zimbabwe„Â ¢s new commercial banks are were in trouble. It linked this distress to the governments new monetary policy announced in December 2003, in which the central bank vowed to stop speculation in the Zimbabwe dollar and related instruments. Biti (2009) in the Zimbabwean fiscal policy points out that between 2000 and 2008, the financial sector has severely been undermined by inconsistent macro-economic policies, negative real interest rates, massive capital flight and erosion of deposits. Overall, the financial sectors balance sheets were reduced to less than 25% of their 2004 value, reflecting an erosion of the real value of financial assets and liabilities in Zimbabwe dollars (World Bank 2005). In order to remain afloat, most banks have had to downsize their operations by closing some branches, especially those in the outlying service centres, leaving about 65% of the population without access to banking services. The rural areas were particularly affected by this. Factors that have influenced liquidity risks include frequent ad hoc changes in interest rates by the RBZ, lengthening of maturity of treasury bills at highly negative interest rates (IMF 2008). Foreign exchange risk in the banking sector has increased becau se of the dominance of foreign currency transactions (Hanke 2008). Dhiwayo (2004) reports that, prior to the introduction of the new monetary policy in December 2003, the Zimbabwean banking sector was characterised by poor corporate governance and risk management systems, high levels of insider abuse through assessed loans to related parties (often relatives and friends), overindulgence in speculative non-core banking activities, inadequate capitalisation, lax prudential supervision and regulatory forbearance. This report highlights that three financial institutions were placed under liquidation whilst nine were placed under the administration of a curator. In light of this the central bank adopted a framework known as the Troubled Bank Resolution Framework (RBZ 2004) to effectively deal with banks experiencing problems. They key objectives of this framework were to: 1) restore stability of the financial sector, 2) strengthen the banking system and promote sound banking practices, 3) develop permanent solutions for troubled banking institutions and 4) promote economic development and growth.The Zimbabwe Allied Banking group was formed in 2005 which was amalgamation of the some of the troubled banks. Dollarisation of the economy Over the years the financial sector has been experiencing various challenges such as, cash shortage, foreign currency black markets, abolition of notes and coins and the use of bearer cheques, loss of confidence in the banking system by depositors and the most influential factor which is inflation. Many depositors have lost their savings. Prior to 2009, the Zimbabwean economy had been unofficially dollarised. Unofficial dollarisation occurs when people hold much of their financial wealth in foreign assets even though foreign currency is not a legal tender. It can include the holding of foreign bonds and other non-monetary assets, foreign-currency deposits (either abroad or domestically), and foreign notes (paper money) in wallets, under mattresses, and in safe-deposit boxes, (Hanke, 2008). However in the January 2009 monetary policy, the RBZ governor approved that all sectors in the economy can operate in foreign currency and that lending will be two tier, that is in local currency and foreign currency. Dollarisation has the effect of moderating the adverse effects of inflation on financial intermediaries„Â ¢ balance sheets (Ize et al 2004). This It could be argued that this two tier market system exposes banks to credit risk (in the form of settlement risk and default risk). Minimum capital requirements A capital verification exercise conducted by the Reserve Bank in January 2009 indicated that of the twenty eight (28) banking institutions operating in the country, fifteen were found to be in compliance with the minimum capital requirements whilst three are marginally below, with the remaining ten being undercapitalised. Capital regulation is motivated principally by the concerns that a bank may hold less capital than is socially optimal to its riskiness and negative externalties (Rime 2001). Chiuri et al (2002) considers that the enforcement of capital requirements has had a negative effect on the supply of bank loan over a period of time and the effect tends to be stronger for initially less capitalised banks. The adverse impact of more stringent minimum capital requirements has been somewhat smaller on foreign owned banks than it has on domestic banks (Clarke et al 1999). Enterprise Risk Management A recent trend in risk management has been the development of an integrated, enterprise wide approach to assessing the business risks that can impact an organisation to achieve its objectives and to develop programmes for managing those risks (Miccolis et al 2001). In contrast to the traditional silo approach to managing risk, the ERM approach requires that a company-wide approach be taken in identifying, assessing, and managing risk, (Liebenberg and Hoyt, 2003). ERM enables firms to benefit from an integrated approach to managing risk that shifts the focus of the risk management function from primarily defensive to increasingly offensive and strategic (Bies 2004). Various risk management bodies have been influenced by the proposals of ERM.COSO (2004), defines ERM as: A process, effected by an entitys board of directors, management and other personnel, applied in strategy setting and across the enterprise, designed to identify potential events that may affect the entity, and manage risk to be within its risk appetite, to provide reasonable assurance regarding the achievement of entity objectives. The common method of risk management has been known to treat risks separately. Under this approach according to Lam (1997), Cumming and Hirtle (2001), various categories of risk are managed separately in individual risk silos. Liebenberg and Hoyt, (2003) also criticise the traditional risk management approach as a highly disaggregated method of managing firm risks. An enterprise-wide approach to risk management treats each of these risk classes as part of the firms overall risk portfolio that is managed holistically. Kleffner et al (2003) observes that financial institutions often manage risks in individual risk silos. To manage risk on an enterprise wide basis, banks must expand their focus beyond traditional concepts to include economic and political factors along with risks related to reputation, ethics and data integrity (Pricewaterhouse Coopers 2002). It is therefore important in this research to examine how banks have adopted their risk management framework having considered political and economic factors affecting Zimbabwean bank s. Although ERM is increasing, not as many institutions have implemented it (Walker et al 2002). This may be due to lack of knowledge on its benefits, lack of commitment from board of directors, lack of experienced and qualified risk personnel , a corporate culture that discourages ERM and inadequate systems and technology (COSO 2004). Lam (2007) encourages banks to adopt an ERM programme regardless of their level of sophistication in risk management. He identifies three reasons why banks should adopt ERM: 1.) banks face complex risks that are highly interdependent, and an ERM framework enables a bank to manage all major risks and their interdependencies, 2) an ERM framework provides the overall architecture for a banks risk management programme and 3) empirical research and industry surveys have indicated that there are clear business benefits for adopting an ERM programme. Liebenberg and Hoyt, (2003) observe that ERM benefits firms by decreasing earnings and stock-price volatility, reducing external capital costs, increasing capital efficiency, and creating synergies between different risk management activities. It would appear that ERM helps an organisation to function as a whole or one system as various units dependant on each other. This enables risk management to be implemented fully as risks are consolidated and not treated separately. Influencers of ERM The trend toward the adoption of ERM programs is usually attributed to a combination of external and internal factors. The major exter

The Importance of Work :: essays research papers

The Importance of Work During the birth of this country, Puritans had to work hard to ensure the success of the new state. In order to make work more appealing, the Puritans emphasized the fruits of labor. This attitude, reflected in modern day by the act of "working for a living," is considered as a "badge of pride." Puritan attitudes toward work and the attitudes of two modern day writers toward work all agree that the act of working has virtuous effects, an attitude that I share because of my working experience (Clee and Clee 233-234). Three different attitudes toward work, expressed by several writers whom I have recently studied agree that hard work yields positive rewards. Henry F. Bedford, a history teacher at Phillips Exeter Academy, and Trevor Colbourne, a teacher at the University of New Hampshire, examine the Puritan attitude toward work in their book The Americans: A Brief History. Puritans stress the goodness of working by relating it to religious beliefs. Sloth is sinful, but the Puritans also pointed out that it was self-defeating. Leisure is even considered an "evil temptation" (Bedford and Colbourne 235-238). Marge Piercy, a modern day poet, essayist, and novelist, attempts to explain why work is desirable on contemporary terms in her poem "To Be of Use." To Piercy, hard workers who really persevere are admirable because of the fact that the world is full of temptations to stop working, or to not work altogether. This admiration for determination is apparent because work is as "common as mud," and it must be done sometime (Piercy 242-243). Wendell Berry, an English teacher at the University of Kentucky, explains the basis of the desire to work in his essay "The Joy of Work." In response to the prediction that there will be no work in the future, Berry emphasizes the importance of work to human nature.