Rejecting Heritage Wangeros Greed Illustrated in...

It was a little girl’s second Christmas and, although she does not remember now, she was so excited to open the big red package from grandma. She ripped open the package and the soft, handmade brown bear went poof in her hands. She has kept the ratty, old bear not for its beauty but because it has sentimental value of a simpler time. Like this example, many people have memories of items they grew up with that have more than monetary value, most people forget the real value of these items, however, and commercialize them as art or sell them away as junk in garage sales. In Alice Walker’s â€Å"Everyday Use,† we are shown a vivid example of what can happen when people take these once treasured items for granted. Walker’s character†¦show more content†¦Wangero appears at the house with Asalamalakim, dressed in African clothing, greeting Mama and Maggie in another language, and Mama replies saying: â€Å"Well,† I say. â€Å"Dee† â€Å"No, Mama,† she says. â€Å"Not ‘Dee,’ Wangero Leewanika Kemanjo!† â€Å"What happened to Dee?† I wanted to know. â€Å"She’s dead,† Wanger said. â€Å"I couldn’t bear it any longer, being named after the people who oppress me.† â€Å"You know as well as me you was named after your aunt Dicie,† I said†¦ â€Å"But who was she named after?† asked Wangero. â€Å"I guess after Grandma Dee,† I said. â€Å"And who was she named after?† asked Wangero. â€Å"Her mother,† I said, and saw Wangero was getting tired. â€Å"That’s about as far back as I can trace it,† I said. Though, in fact, I probably could have carried it back beyond the Civil War through the branches(144). Wangero has obviously lost the point of why she was named after these women, and only sees a legacy of under-cultured and ignorant women because it does not fit into her view of reality, and also does not support the selfish reason for her name change, the reality is that the name â€Å"Dee† has a much greater meaning than Wangero makes it out to have. Through the act of changing her name and appearance to conform to those that are popular among her peers, Wangero confirms that she has broken away from her family, effectively disowning them until it was socially convenient and profitable for her to return to her mother’s home for the items she set out to get.

Accounting and finance Example

Essays on Accounting and finance Essay Question Balance sheet of Florence plc as of 31st March, is as follows: Florence plc Fixed assets 325 Investment In Rusty 300 In Dougal 80 Inventory 125 Cash 45 Receivables 60 Payables -120 Bank Loan 0 Total 815 Share capital 500 Accumulated profits 315 Total 815 a) Consolidated Balance Sheet After consideration of notes, the balance sheet of Florence plc has to be revised so that it reflects the true picture of the company. Therefore a consolidated and a revised balance sheet of the company is as follows: Florence plc Fixed assets 325 Investment In Rusty 266 In Dougal 80 Inventory 125 Cash 45 Receivables 151 Payables -120 Bank Loan 0 Impairment Total 872 Share capital 500 Accumulated profits 372 Total 872 It can be seen that the total worth of the company has increased from 815,000 to 866,000. b) Effect on Income Statement of Florence Group Note 1: As the fixed assets of Rusty Ltd in which Florence Group has invested has been found to be overvalued and therefore it has been revised by 30,000. This change would reduce the profits of the firm and therefore the profit and loss statement would be reduced by 24,000 as Florence Group has acquired 80% of the shares of Rusty. Note 2: As the good will of Rusty Ltd. has been impaired by 10,000 therefore it will have a negative influence on Florence Group. Florence Group has acquired 80% of the shares of Rusty therefore it will have to record a loss of 8,000 in its income statement. Note 3: As Florence group has sold goods to Rusty with a mark up 40% then this would improve the profits of the company. The total value of inventory is 100,000 and therefore the mark up at 40% means a profit of 40,000. So, this would enhance the profits of the company by 40,000. Note 4: Rusty Dougal Total Shares 300 100 Accumulated Profits 20 140 Shares acquired 80% 25% Addition to RE 16 35 Question #2 The balance sheet of Purple plc as at 31st March 2011 is as follows: Fixed assets 480 Investments In Pink 600 In Yellow 100 In Green 550 Inventory 170 Cash 80 Receivables 110 Payables -120 Bank Loan 0 Total 1970 Share capital 800 RE 1170 Total 1970 a) Consolidated balance sheet Fixed assets 480 Investments In Pink 480 In Yellow 100 In Green 538 Inventory 170 Cash 80 Receivables 360 Payables -120 Bank Loan 0 Impairment Total 2088 Share capital 800 RE 1288 Total 2088 b) Effect on Income Statement of Purple Ltd Note 3: As the value of fixed assets of Pink ltd is found to be inflated therefore its value has been reduced by 160,000. Therefore it would have a negative impact on Purple Ltd. Purple has acquired 75% of the shares of the company; therefore it would have to revise its investment and report a loss in the profit and loss statement of 120,000. Similarly, the value of fixed assets of Green Ltd has been inflated by 50,000 and with 80% of the shares acquired by Purple, the company needs to revise its investment by 40,000. Therefore a loss of 40,000 has to be reported by Purple. Note 4: As Purple sold its inventory to Pink, and for this, it earned a mark up of 50% on 500,000. Therefore a total profit of 250,000 has been earned by the company and it will improve its profit and loss statement. Note 5: As the good will of Green ltd has been revised by 15,000 and with Purple holding 80% of the shares of the company. Purple would need to report an impairment loss of 12,000. Why management may seek off balance sheet investment? Of late, there has been an increasing use of off balance sheet investment by different firms around the world. off balance sheet allows firms to invest and the fluctuations in the investment are not included in the balance sheet and therefore the value or worth of the firm is not disturbed. Therefore, one of the reasons that encourage management to invest using off balance sheet technique is that the fluctuations do not hurt the worth or balance sheet of the company. Other important reason that encourages management to use off-balance sheet financing is that the credit risk is transferred. For instance, when banks give loans they record it in the balance sheet and therefore the risk will be taken by the bank. However while using securitisation, firms would not record in the balance sheet and the credit risk will be transferred. Economic substance should take precedence over legal form: Financial statements need to represent the true value of the firm and true value of the transactions that have occurred during the period. In order to represent the true value of the transactions, faithful representation of transactions is required in a way that it represents the true economic substance or value instead of legal form and this concept has been named as the Substance Over Form. According to Substance Over Form, when the value or substance of the transaction is not the same as the legal form then such transactions should be reported considering the economic value of the transaction. The main reason for this is that the financial statements should represent the true value of the transactions.

Classroom Strategies for Interactive Learning

Question: Describe about collective leadership in classroom, Importance of collective leadership in the classroom and Methods of application of collective leadership in the classroom? Answer: Collective leadership Distributes the functions and powers from the individual to a single group Means by which responsibility, accountability and authority are broadly distributed for creating opportunities for taking part in leadership Collective leadership in classroom Most respected aspect of teacher training and the teacher-student relationship Collaborative leadership in the classroom helps in productive and healthy interpersonal relationships, and it gives an opportunity to communicate clearly with the teachers From the perspective of the behavior of the teacher, the students value and trust the teachers. Importance of collective leadership in the classroom Collective leadership has more positive impact on the achievement of the students when compared to individual students All people having an association with high-performing schools have more impact on school decisions than those with low-performing schools Educational theories supporting collective leadership in the classroom Autonomous learning theory Transformative learning theory Methods of application of collective leadership in the classroom Four basic steps To get ready, plan, implement and sustain Build readiness and lay the foundation for future work that is to be taken up in the classroom The teacher consults with the students on the desired aims of teaching and the means by which they can be achieved The teachers and the students work together for turning plans into reality Sustaining the leadership needs strategies to be taken up for ensuring long-term impact. References Buehl, D,Classroom Strategies for Interactive Learning. in , 4th ed., , 2014. Gardner, J, J Gardner,Assessment and Learning. in , Sage, 2012.

PESTLE Analysis for Cadbury A Key Player in Chocolate Industry

Question: Explain PESTLE Analysis for Cadbury. Answer: PESTLE Analysis for Cadbury One of the most useful tool for understanding the growth and decline of market is the PEST Analysis. It is basically a measurement tool for business. PEST is a short form for Political, Economic, Social and Technological factors. This factor in turn helps to assess the market for a trade or a managerial unit. It is very easy to complete a PEST Analysis. The PEST Analysis is mainly used for tactical planning, promotion planning as well as industry and the development of manufactured goods. The PEST Analysis is quite similar to that of the SWOT analysis (Srdjevic et al. 2012). (Source: Academy, 2016) Cadbury is identical with the consumption of chocolate on a universal basis. The first Cadbury shop was opened in the early 19th century. Since that point of time, Cadbury had emerged as one of the global brand. Most of its factories are located in the United Kingdom as well as Asia and North America. In the year 2008, the brand of Schweppes was put up for sale to the Dr Pepper Group, and in the year 2010, Cadbury was obtained by Kraft foods located in the US. The following is the PEST Analysis for Cadbury (Mahara 2013). Does The Intricacy of The Topic Intimidate You? Tame Your Fear with Unmatched Assignment Help Services from Professional Writers. Political the procedure of Cadbury in the UK was determined by the change in the government from Labor Party to the Traditional Democrat. As per the last report, more than 3000 employees were hired by the eight Cadbury industrial units in the UK. However, the rigorous limitations on the entry of accomplished workers from rest of Europe can have an effect on employing decisions of Cadbury in the future. Another political factor that determines the investment and imbursement to shareholders are by the imposition of tax. In the year 2010, the value added tax rose by 2.5 percent. This in turn increased the price of chocolate and reduced their sales. In the year 2007, the Cadbury Schweppesmade a decision to subcontract foremost portion of its accounting and Human Resources to an Indian firm as it was facing a progressively more operational fixed cost (Babatunde and Adebisi 2012). Economic the sales of Cadbury was quite stable in spite of facing a worldwide monetary downturn. Cadbury was also able to add an increase of 30 percent in its yearly income from Dairy Milk and Trident. In the year 2009, recession was at its peak the corporation was able to hit the lower end of its 4-6 percent income (Modi 2013). Social Cadbury was generally born due to the social factors. Being operated by a Quaker family, their resistance to alcohol provided as the base of organization of a trade that sold tea, coffee, cocoa, and liquid chocolate. The products of Cadbury which included chocolate and other goods were accepted wholly all over the world. However, Cadbury got trapped in a recent controversy which stated that the products of Cadbury are halal certified and are catering to the needs of the Muslims. As a result, this anxiety resulted in the rising case of corpulence especially among the children. It was thus recommended by many nutritionists to reduce the consumption of chocolate and toffee. This in turn affected the sale of Cadbury. Technology the production and the procedures of packing of Cadbury changed due to the innovation of technology. This has started with the introduction of new brew machinery which is used to merge coffees and cocoa grains. (Source: Markedbyteachers.com, 2016) Legal the legal framework is defined at the local, regional, national level. The legal standards are included that affects the lawful principles that affect the companys operating in the region incorporating legal rules of business governance, taxation and legal responsibility of producers. Environmental the environmental concerns related to Cadbury are the dairy processing that includes consumption of energy as well as usage of water and waste as well as the packaging manufacture. The environmental impact of the Cadbury industry includes a variety of schemes and programs that helps in improving the environmental performances of the life cycle of Cadbury. As far as the environmental factors are concerned, in case of the Cadbury industry the main focus is given on the emission of the greenhouse gases as well power and water usage. Leadership Qualities The following are the qualities that can make a leader effective: Self assessment the leaders who are effectual take stock of their personal strengths and inadequacies. If an individual is aware about their weaknesses it will not make them weak. However, it allows entrusting to others who possess those aptitudes in order to attain the common goals. Rather than adhering to the fake faith that they can do it all, effective leaders employ inhabitants who balance, rather than supplement, their abilities. Working on the area of weaknesses in turn helps to progress the leadership qualities. Sharp awareness effective leaders has the ability to perceive people. The effective leaders share an easy level of truthful communication with their team associates as well as their peers. They also look into the methodical understanding of how the communication is perceived. In order to become an effective leader it is very important get a feedback that will include the fact that an environment of honesty and open communication should be established. In the open communication, an effective leader can ask about their good qualities and the areas on which they need to progress (Siegel 2015). Responsiveness to the need of the group a leader can become effective if they are perspective in the sense they know the requirements of the team. A number of teams worth faith over creativity; others favor a clear conversationalist to a great manager. It is relatively to build a strong team if the values and the goal of an individual are known. Commitment an effective leader needs to set an example for the team if they want the team to perform productively as well as produce quality. An effective team leader earns the respect from its team if they are able to prove their commitment to the brand (Gibson and Weber 2015). Power and Authority Authority is the demonstration of power which subsists where one person has official right to control and another has the official compulsion to obey. This is normally understood a having the authority in order to direct as well as requires observance. Authority is normally seen as the institutionalized authority. Authority is generally earned by virtue of the leadership potentials of an individual as well as knowledge. An expert is generally referred to as the authority on a subject and others adjourn to his estimation (Martin 2015). (Source: Slideshare.net, 2016) Power and authority are potentially obligatory. Power is defined as the capability to act in ways which authorize the behaviors of others. It is an individual aptitude that can be developed. Power is that ability which gets others to do things. It is a quantify of personal efficiency. Power is generally earned and given by those who chase (Lake 2013). Dysfunctional leaders may possess authority but they will not posses power. As a result, they mostly mistreat the authority thereby diminishing any probable individual power. The leaders who possess both power and authority are the effective leaders and they will only use the authority as a last option in order to attain goals (Lunenburg 2012). Types of Authority Legitimate this type of authority is also known as the position power or bureaucrat authority that moves towards the leader when the association authority is established. It comes from the rules of the association. It gives the leader the authority to control the resources and to reward others. This authority is widely accepted s it is believed that discipline in the society is necessary. Charismatic it is also known as the authority of personality that comes from each leader separately. This is the authority of attraction or dedication, the wish of one person to have a high regard for another. The leaders possess an individual charisma, an air of self-assurance and a conviction in objectives that draws and holds followers. This in turn helps to understand and value the leader (Lamprou et al. 2013). Expert they are known as the authority of acquaintance that comes from dedicated learning. This in turn helps to get job done. Reward it rises from the ability of rewarding worthy behavior. The leader has the authority to give tangible rewards such s promotion and other similar rewards. Coercive this authority deals with the authority to give punishment such as dismissal, relegation and low rating. Mental punishments comprises of disapproval, avoidance, displeasure, satirical comments to the subordinate (Peters 2015). Authority and Responsibility The facts related to authority and responsibilities are as follows: Authority without responsibility is a dictator - Authority without responsibility is a tyrant. If a leader gives authority without any responsibility in that case the leader is bumper from the rest of the staff which in turn gives the emotion of the penalties due to the actions taken. Responsibility without authority is a tragedy the leaders will start feeling aggravated if they do not have the authority to execute the plan. The leaders will in turn find themselves in the boundless cycle of desirable approvals (Duff 2013). The leaders take responsibility in spite of giving authority the leaders will take the responsibility in order to execute the actions of his or her team. The leaders who are given accountability with authority will authorize with brilliance this helps the leader to achieve the task while on condition that a clear vision of achievement is achieved (Oren 2013). Leadership Models In order to provide insights of leadership, three models of leadership are developed. The models are as follows: Star group leadership models it advocates a strength based advance to leadership. The leaders balance and bring into line the strengths of the individuals with the help of teamwork as well as the focus on results. It also helps to provide clarity on what are the factors leaders are required to focus on (Zhu et al. 2015). Leadership model related to style and focus this mainly brings the together the STAR constituents with the method of leadership. 5 S Uncommon Leadership model the five uncommon leadership includes seeing, shaping, showing, sharing and serving. Seeing involves having vision, shaping involves the creation of the culture and system. Showing is the able to reveal the kind of association by action. Serving mainly focus on the serving of the colleagues and the consumers. Lastly, sharing is the development and encouragement given to others. References Academy, P. (2016). Marketing Theories - PESTEL Analysis. [online] Professionalacademy.com. Available at: https://www.professionalacademy.com/blogs-and-advice/marketing-theories---pestel-analysis [Accessed 18 May 2016]. Babatunde, B.O. and Adebisi, A.O., 2012. Strategic environmental scanning and organization performance in a competitive business environment.Economic Insights-Trends Challenges,64(1), pp.24-34. Duff, R.A., 2013. Authority and responsibility in international criminal law. Gibson, M. and Weber, R.J., 2015. Applying Leadership Qualities of Great People to Your Department: Sir Winston Churchill.Hospital pharmacy,50(1), p.78. Lake, D.A., 2013. Global Governance, Authority, and Leadership Lamprou, E., Leitch, C. and Harrison, R., 2013. Special Issue: Leadership and authority in a crises-constructing world.Leadership,9(1), pp.145-147. Lunenburg, F.C., 2012. Power and leadership: an influence process.International journal of management, business, and administration,15(1), pp.1-9.. Mahara, T., 2013. PEST-Benefit/Threat Analysis for selection of ERP in Cloud for SMEs.Asian Journal of Management Research,3(2), pp.365-373. Markedbyteachers.com. (2016). Cadbury PEST - GCSE Business Studies - Marked by Teachers.com. [online] Available at: https://www.markedbyteachers.com/gcse/business-studies/cadbury-pest.html [Accessed 18 May 2016]. Martin, J., 2015. Leadership: The Power of Authority. InPhilosophy of Leadership(pp. 203-222). Palgrave Macmillan UK. Modi, S., 2013. Study on Food and Dairy Industry. Oren, S.S., 2013. 5 AUTHORITY AND RESPONSIBILITY.Designing Competitive Electricity Markets,13, p.79. Peters, R.S., 2015.Authority, responsibility and education. Routledge. Siegel, D., 2015.Leaders in the Shadows: The Leadership Qualities of Municipal Chief Administrative Officers. University of Toronto Press. Slideshare.net. (2016). Strategic leadership. [online] Available at: https://www.slideshare.net/ismetsabit/strategic-leadership-30272038 [Accessed 18 May 2016]. Srdjevic, Z., Bajcetic, R. and Srdjevic, B., 2012. Identifying the criteria set for multicriteria decision making based on SWOT/PESTLE analysis: a case study of reconstructing a water intake structure.Water resources management,26(12), pp.3379-3393. Zhu, W., Zheng, X., Riggio, R.E. and Zhang, X., 2015. 7 measurements of ethics-related leadership models, including ethical leadership, transformational leadership, authentic leadership, servant leadership, spiritual leadership, and a virtues-based approach to leadership ethics. The similarities and differences among these theoretical models and measures to ethics-related.Developing Ethical Leaders: New Directions for Student Leadership, Number 146, p.81.

Hamlet Sample Essay Outlines Are a Great Way to Learn How to Write Structure and Pacing

Hamlet Sample Essay Outlines Are a Great Way to Learn How to Write Structure and PacingHamlet sample essay outlines are an excellent way to learn the fundamentals of a course in English composition. While you would be encouraged to read the sample essays at your own pace, it's important to remember that you will need to continue working through the lessons as you learn how to write the structure and pacing of your own essays. This is part of what makes the material so valuable for your own future academic studies.For instance, one of the most useful components of sample essay outlines is the 'visit from 'stringers' section. These sections feature short essays in which students are encouraged to research information about the individual writer or author and related topics. This helps you to learn about the writer's life, her style, and any other relevant information. While you may have spent hours researching your essay topic, if you don't include this information in your essay sample , it will be somewhat limited.You may also use these essays as a guide for developing your own writing style. For example, for the Hamlet sample, you'll find several paragraphs that involve an essay format you may not necessarily use. Your essay samples will give you the opportunity to learn about your own strengths and weaknesses, strengths and weaknesses of other writers, and your own thoughts about certain topics. It's just a simple matter of reading and understanding the format and structure of the essay samples.In addition to these various aspects of the Hamlet essay samples, you will also see helpful comments from other students in the samples. They will help you formulate your own ideas and develop your own voice by using the different sample sentences.An essay outline is also often a good place to include any additional research that you might want to do. For example, many students may also want to look into other writers that were influenced by Shakespeare, such as George B ernard Shaw and Henry James. This will help youto gain insight into other types of writing. While most students would rather just get started on a study-based course, they will appreciate having a little more information.Hamlet sample essay outlines also provide the opportunity to listen to other people's opinions and critique your own essay. It can be a fun way to discover if your own writing style may not be the best fit for a certain course. For example, you may be struggling with how to express certain ideas or concepts.These types of sample essay outlines are very valuable to students. However, it's very important to know that you should always remember that you are still required to continue studying as you are learning how to write the structure and pacing of your own essays. In other words, you will be expected to continue working through your assigned essay without taking any breaks.

Compare Online Relationships with Face-to-Face Relationships Essay Example

Compare Online Relationships with Face-to-Face Relationships Essay Perhaps, to think that online relationships are in some points more superficial, deceitful or perilous than face-to-face relationship is such a dangerously-shallow deception. In fact, online relationships aren’t much different from real life relationships. Despite the fact that people have grown panic towards online relationships lately, face-to-face relationships themselves don’t serve any fewer disadvantages. Somehow it has been believe to be true that online relationships and face-to-face relationships are totally unalike, nonetheless the two elationships share three similarities covering intimacy, sincerity and risks. The first similarity concerns level of intimacy between two people in the relationship. Face-to-face relationships allow people to actually meet in person. In a real-life situation, they can see each other or have conversations with real interaction, such as eyes contact and body languages. The relationships can develop into further closeness and somet imes the couples end up with marriage. Similarly, all types of interactions provided in face-to-face relationships also exists in online relationships. By using interactive devices, such as web cameras, microphones and speakers, actual talking and seeing becomes possible through the internet. Deeper intimacies like serious relationships or marriage are also feasible for many internet couples. A new study of online dating site members has found that when couples who had built up a significant relationship by e-mailing or chatting online met for the first time, 94 per cent went on to see each other again. Moreover, the study also shows the successful relationships which last at least seven months and in some case over a year. This result proves that online relationships have a similar degree of success as real life ones. (Dr Gavin and Dr Adrian Scott, 2005) Additionally, according to the online dating research conducted by Marry Madden and Amanda Lenhart in 2006, nearly 3 million adults have entered long-term relationships or married their online dating partners. These evidences confirm that the situation of online dating is not any less real than face-to-face relationships. Secondly, the two relationships have something in common dealing with sincerity. We will write a custom essay sample on Compare Online Relationships with Face-to-Face Relationships specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Compare Online Relationships with Face-to-Face Relationships specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Compare Online Relationships with Face-to-Face Relationships specifically for you FOR ONLY $16.38 $13.9/page Hire Writer In face-to-face relationships there are opportunities to meet not only decent people but also the spurious. People lie, research has shown, in one-fourth of their daily social face-to-face interactions especially when it comes to the relationship issues. (Cornell University communications researchers, n. d. ) For example, some lie about having an affair. One study found that 2/3 of the wives (26 to 36 million women) whose husbands were cheating had no idea their husbands were having an affair. This’s because their husbands lied to them and they failed to recognize the telltale signs. Moreover, 25 percent of men and 17 percent of women had been unfaithful no matter how many years there’ve been married. (National Opinion Research Center, n. d. ) Likewise, online relationships offer both sincerity and deception. Nowadays, it has been on the news that internet relationships mostly lack elements of truth and frankness. Anyone can make up his or her profile about the looks, personality, occupation, education, financial status, or even name. These disadvantages of online relationships can occur in face-to-face relationships as well. However, honesty is not mpossible to find in cyberspace, due to the fact that there still be lots of genuine people using internet as a tool to find the right person for them to have relationships with. Furthermore, sincerity can also be found in other forms, several kind of support groups, such as groups for anxiety, depression, and substance abuse. As some of the members of each group share their own experiences, their relationships become a sincere binding between them and develop to further possibilities. All these proofs proves that online relationships should not be accused of eing more doubtful in term of sincerity than face-to-face ones. The last but not least similarity has to do with the risk. Both online relationships and face-to-face ones have the possibility to be deceived for money, sexual intercourse, physical assault or even homicide. Crime rates in online relationships as well as in face-to-face ones have been increasing. In real life, by 1991 the dramatic crime rate was 313% the 1960 crime rate and the rates are continuously increasing. Approximately 5% of the U. S. population, thirteen million people, are victims of crimes every year. United States Crime Rates, 1960 – 2006) The categories of crimes cover property thefts such as robbery and forgery as well as violence ,such as murder, forcible rape, physical and mental assault. Similarly, online relationships can lead into any categories of crimes that occur in face-to-face relationships. The cyber crime rates are also rising 255% in 2006 over 2005. (US. National Crime Records Bureau statistics, 2005-2006) According to the statistics, no obviously different risks between face-to-face relationship and online relationships appear. Summarily, people trend to e panic so much on online crimes that they overlook the fact that crimes that are caused by people in real life don’t have any less rates than online ones. It’s more than clear that, in contrast to what has been believed, both online relationships and face-to-face relationships carry the similar qualities in term of closeness, frankness and peril. In other words, internet relationships are no worse than the real life ones. Perhaps it’s time to reconsider our attitude towards this cyber romances as a virtual alternative relationships and to open the doors of opportunities and understanding for those millions online daters.

Banking services in saudi arabia research proposal The WritePass Journal

Banking services in saudi arabia research proposal Literature Review Banking services in saudi arabia research proposal Literature ReviewI.  IntroductionII.  Lending Institutions in Saudi Arabia  III. Regulatory Framework of Banking System in Saudi ArabiaIV. Improvement of Banking ServicesVI. Service Quality in Saudi Arabian BanksVII.  Technology Use in Banking Service ProvisionRecommendationsReferencesRelated Literature Review I.  Introduction The beginning of the modern banking system began in October 1952 with the creation of the Saudi Arabian Monetary Agency (SAMA) the principle agency responsible for management of monetary matters. Paper money was first introduced in the early years of the 1950s decade. Banking problems in the late 1950s decade resulted in regulatory framework being strengthened in Saudi Arabia during the middle 1960s decade in which broad supervisory capacity was given to SAMA in a legal environment that upheld the concept of a Universal Banking Model allowing banks to make provision of a wide range of financial services â€Å"including banking, investments, securities, etc. through their branches.† (Saudi Arabian Monetary Agency, 2004, p.3) There were 12 operating banks by 1979 only three of which, were non-Saudi banks and branches had doubled by that year to 140. II.  Lending Institutions in Saudi Arabia Five major lending institutions were introduced in the decade of the 1970s: (1) Saudi Credit Bank; (2) Saudi Agricultural Bank; (3) Public Investment Fund; (4) Saudi Development Fund; and (5) the Real Estate Fund. (Saudi Arabian Monetary Agency, 2004,  Ã‚  Ã‚   p.3) Restructuring was accomplished arising from encouragement by the Saudi Government and by 1975 there was a reported â€Å"10 international bank†Ã¢â‚¬ ¦including â€Å"29 branches present.† (Saudi Arabian Monetary Agency, 2004, p.3) There was a rise and fall in the economy and SAMA faced a critical challenge for supervision in 1982 â€Å"when irregularities appeared in Saudi Cairo Bank’s operations. Two senior managers were involved in unauthorized trading in bullion during the 1979-81 period, and had concealed accumulated losses that exceeded the Bank’s share capital.† (Saudi Arabian Monetary Agency, 2004, p.3)   It is reported that SAMA required the Bank to issue new shares and doubl e its capital in 1986. SAMA arranged this increase to be taken up entirely by the Public Investment Fund (PIF). The Bank also benefited from â€Å"low-cost† deposits from the Public Investment Fund. These measures helped the Bank with liquidity and rescued it back to a healthy position.† (Saudi Arabian Monetary Agency, 2004, p. 4-5   III. Regulatory Framework of Banking System in Saudi Arabia SAMA in collaboration with Saudi Arabia Ministry of Finance ensured the financial system’s stability and assisted banks in clearing the hurdles of economic downturn. Included in this collaborative initiative were the following actions: (1) Banks were required to seek SAMA’s approval prior to announcing their dividends. The Banking Control Law required all banks to build their statutory reserves equal to their share capital. SAMA further encouraged Saudi banks to build additional reserves to strengthen their capital base. (2) Most foreign shareholders in Saudi banks enjoyed a tax holiday for the first five years of their ownership. To encourage retention of profits, the tax holiday was extended in most cases by another 5 years after which a deferred tax scheme was permitted; (3) In 1986, SAMA obtained a ruling from the Tax Department that permitted the tax deduction of loan loss provisions on   an accrual basis. This encouraged banks to increase their loan loss provisi ons for doubtful accounts; (4) To encourage Saudi banks to increase their inter-bank dealings and to support the development of a riyal inter-bank market, a tax ruling was obtained which exempted foreign banks from withholding taxes when carrying out inter-bank transactions with Saudi banks; (5) Corporate Governance.   SAMA recognized the need to encourage banks to take strong steps to improve their risk management and control procedures. Consequently, it took major initiatives in the area of corporate governance. Firstly, it required all banks to develop and strengthen their internal audit departments, and secondly it issued minimum internal control guidelines.   In addition, SAMA issued accounting standards for Commercial Banks in Saudi Arabia which were in line with International Accounting Standards; (6) Creation of Banking Disputes Committee. In 1987, Saudi authorities established a Banking Dispute Committee by the order of the Council of Ministers.   The creation of this Committee as the only relevant quasicourt to handle dispute between banks and their customers significantly strengthened the legal system.   By law, all banking disputes had to be referred to this Committee and the rulings of this Committee were given the same enforcement support as decisions from any other court; (7) Exchange of Information on Large Borrowers and on Delinquent Loans. In the early 1980’s, SAMA established a credit information service that provided information to Saudi banks on all large exposures of the Banking System.   This enabled banks to better assess the credit position and risk of big borrowers.   Also in 1986, SAMA permitted banks to exchange information on delinquent borrowers as a means of applying collective pressure on them. These measures have proved quite effective in resolving problems of delinquent loans.† (Saudi Arabian Monetary Agency, 2004, p. 5-6) IV. Improvement of Banking Services Banking and financial services were improved during the early decade of the 1980s by technological advances and SAMA had acknowledged a decade earlier that there was not only a potential but as well as need to â€Å"enhance and strengthen the Saudi financial markets through greater investment in modern technology. It is reported that the primary objectives of this strategy were: (1) elimination of duplication of efforts and waste; and (2) development of a national infrastructure. (Saudi Arabian Monetary Agency, 2004, p. 7) Technology enhanced business services introduced included: (1) automated Cheque Clearing System (1986); (2) linking of Saudi Arabia with the SWIFT payment network; (3) introduction of a national Automated Teller Machine System enabling customers to access accounts from any machine in Saudi Arabia and from the major financial markets; (4) introduction of debit, credit and charge cards; and (5) introduction of Point-of-Sale terminals that link customers, traders and banks. (Saudi Arabian Monetary Agency, 2004, p.7) International Islamic Financial Institutions It is reported that International Islamic Financial Institutions are reported in the work of Memon (2007) entitled â€Å"Islamic Banking: Present and Future Challenges† to be making provision of â€Å"a wide range of services in accordance with the basic principles of Shariah. The products are reported to include: (1) Mudaraba; (2) Murabaha; (3) Musharaka; (4) Ijarah; (5) Isstina; and (6) Salam. (Memon, 2007, p.4)   Conventional banks are reported to operate under the concept â€Å"of lender-borrower relationship where interest is considered as the rental income on capital. The depositors are assumed to be capital providers.† (Memon, 2007, p.4) Bank customers are reported to be divided into three broad categories as follows: (1) religiously motivated customers; (2) high profit customers; and (3) customers who are religiously motivated but also expect returns at least similar to conventional banks. (Memon, 2007, p.6) It is reported as follows in regards to the Islamic economic system: â€Å"Islamic economics is a system, which not only fulfils our moral, ethical, and religious obligations but also demonstrates to be economically feasible and financially rewarding. Islamic banking is based on asset-based transactions for the purpose of income generation, and prohibits financing in all forms of economic activities, which are normally and/or socially injurious to the society.† (Memon, 2007, p.6) Additionally stated is that the Islamic field of Banking operations â€Å"is unlimited. It is under continuous process of evolving and Islamic financial modes instruments have been developed to cover nearly all kinds of businesses including consumer financing, project financing, house financing, working capital financing, import and export financing, venture capital, etc.† (Memon, 2007, p.6) A survey conducted in the United States indicates that U.S. banker perception of Islamic Banking includes that 10 out of 20 Islamic Banking practices are viewed as acceptable. Those ten include: (1) investment accounts; (2) transfer of funds; (3) cost plus finance; (4) profit and loss; (5) sharing, (6) trust financing, (7) leasing, (8) lease purchase, (9) letters of guarantee, and (10) flexible investment of deposit and role as trustees. (Memon, 2007, p.8) VI. Service Quality in Saudi Arabian Banks The work of Al-Fawzan (2005) entitled â€Å"Assessing Service Quality in a Saudi Bank† states that service quality is defined as â€Å"the degree of alignment between customers’ expectations and their perceptions of the service received.† (Al-Fawzan, 2005, p.1) Al-Fawzan (2005) states that the move to â€Å"†¦managed service has increased demands for outcome-based accountability, cost containment, and attention to customer-focused quality in order to remain competitive in a rapidly changing environment. This dual focus on driving down costs while increasing quality has intensified pressures to understand, measure, and manage quality from a customer perspective.† (p.101) While banking systems are stated to provide services that are the same they are differentiated by the quality of services provided. In addition, today’s customers are â€Å"†¦more aware of the alternatives and their expectations of service have increased. Service quality c an, therefore, be used as a strategic tool to build a distinctive advantage over competitors. Banks are striving for zero defection and retaining every customer that the company can profitably serve in order to achieve service excellence.† (Al-Fawzan, 2005) Zero defections makes a requirement of ongoing efforts for improving service quality. It is reported that while quality â€Å"can not be improved unless it is measured, it can be defined from several perspectives, e.g., the ability to satisfy the needs and expectations of the customer, or the totality of features and characteristics of a product or service that bears on its ability to satisfy given needs.† (Al-Fawzan, 2005) There is a growing acknowledgement of quality importance in banking services although â€Å"its conceptualization and empirical assessment have remained limited.† (Al-Fawzan, 2005) Al-Fawzan (2005) reports that the â€Å"central tenet of the quality paradigm is the importance of understand ing and utilizing customer data to drive operational and strategic decisions, defining quality from the outside-in based on customer information is critical. This shift in defining quality often necessitates a fundamental change in the way professionals, managers, staff, and policy makers think about and identify those who buy or use products and service.† (Al-Fawzan, 2005) Those who use banking services are not generally refers to as ‘customers’ but instead are referred to as ‘client† suggesting â€Å"†¦a passive voice in the service delivery process, which is reflected by professionals in the field who question the credibility of client evaluation of services. On the other hand, customer carries an image of an active participant with more input in determining choices and decisions. Clients of human service organizations who follow directions from professionals and make few demands on the system are labeled as cooperative. In contrast, customers in the business sector who are loyal to the service, interact with the staff, and are willing to show their preferences are viewed as desirable customer.† (Al-Fawzan, 2005) Al-Fawzan states that customers have difficulty in the articulation of â€Å"banking service quality† therefore â€Å"the recipient of the service can only really assess it, thereby making its mea surement more subjective than exact. Hence, the measurement of banking service quality has to be based on perceived quality rather than objective quality because services are intangible, heterogeneous and their consumption and production occur simultaneously.† (2005) It is reported that service quality   â€Å"†¦ is a measure of how well the service level matches customers’ expectations.† (Al-Fawzan, 2005) It is reported that Parasuraman et al. â€Å"†¦defined service quality as perceived by customers and items from a comparison on their expectations of the services they will receive with their   perceptions of the performance of the service provider.† (Al-Fawzan, 2005) The study reported by Al-Fawzan (2005) summarizes the results stated the following findings: (1) the most important dimension determined by Saudi Bank customers is that of ‘assurance dimension’; (2) a service gap exists in service quality provided by Saudi Banks w ith the most notable gap being the accessibility dimension; (3) Saudi Bank customers, on average, rated Saudi Banks service quality to be overall good; (4) the expectations of Saudi Banks by customers are â€Å"highest in reliability dimension; (5) 67.8% of SB customers rated the overall service quality as good and very good; (5) SB employees dress nicely and they are polite when talking to customers; (6) SB has exceeded customers’ expectations in performing the service right from the beginning and in instilling the confidence in customers that their transactions are complete and safe.† (Al-Fawzan, 2005) The work of Sohail and Shaikh (2008) entitled â€Å"Internet Banking and Quality of Service: Perspectives from a Developing Nation in the Middle East† reports a study that had as its objective the measurement of the quality of service from the perspective of the customer on internet banking in Saudi Arabia. The study was conducted via a questionnaire survey and an extensive review of literature. Findings in the study report that upon the basis of a factor analysis three factors were found to influence the evaluation of quality of internet banking services by users. Those three factors identified are stated to include: (1) efficiency and security; (2) fulfillment; and (3) responsiveness. (Sohail and Shaikh, 2008) In 2010 Jasimuddin reported in the work entitled â€Å"Saudi Arabian Banks on the Web† reports that commercial transactions via the Internet began in 1995 and that online banking is an application with much promise. However, while many banks in developed countri es have made provision of banking services via the Internet, Saudi Arabia is â€Å"lagging behind.† (Jasimuddin, 2010, p.1) The environment in the Kingdom of Saudi Arabia’s environment is very conducive to Internet banking service provision. Jasimuddin reports that as of 2000 there were 11 banks and 1201 branches operating in Saudi Arabia. As of the middle of 2000, there are 11 banks with 1201 branches operating across Saudi Arabia. Eight banks are reported to have established a web site presence which is a rate of 73% of banks with a web site presence although only two of these offer Internet Banking Services. When the Saudi banks web sites are compared there is not major difference noted in the content of the bank web sites. The contents of the websites are stated to be inclusive of information about the bank, the addresses of branches and ATMs, phone and fax numbers, press releases, newsletters, news about the site and welcome letters, hot links, job opportunities, publications, contact and email, feedback, sitemap, site search, online forms and so forth. (Jasimuddin, 2010, paraphrased) Practically all of the banks provide information relating to customer services that â€Å"incorporate financial market, retail and corporate banking, investment treasury service, telephone and PC banking.† (Jasimuddin, 2010) I t is reported that online banking in Saudi Arabia is still a â€Å"very marginal activity† and that internet is presently being used by Saudi banks primarily for â€Å"brand awareness and promotion.† (Jasimuddin, 2010) Saudi banks will be driven by â€Å"the dynamic and imperatives of e-finance†¦to build web site and to start Internet banking.† (Jasimuddin, 2010) In other words, since this is a banking service that is increasingly familiar customers will be requesting these services from banks in the future in Saudi Arabia. VII.  Technology Use in Banking Service Provision It was reported in 2007 that the National Commercial Bank of Saudi Arabia was established in Saudi Arabia prior to any other banks being established. This bank has 300 branches throughout the Kingdom of Saudi Arabia with some branches stated to be â€Å"dedicated exclusively to Islamic Banking Services. The National Commercial bank reports having implemented use of a digital signage system which is reported to make provision of a â€Å"better platform for NCB to better communicate with its employees, educating them about the banks products and services and enhancing the service they provide to their customers.† (Jasimuddin, 2010) Summary of Literature Reviewed It is clear that banks in Saudi Arabia are faced with a diverse customer-base and this makes a requirement of diversification of banking services offered by banks in the Kingdom. While internet banking services provision is somewhat behind the development in the rest of the world, it is certain that Saudi Arabian banking customers will clearly see the benefits to Internet banking and that the push will soon be on for provision of this banking service by Saudi Arabian banks. Internet banking as well as other technological advanced service possibilities are presently being explored by Saudi Arabian banks including such technologies as a digital signage system among others. While the banking sector is quite developed in the Kingdom of Saudi Arabia there does appear to be a general mistrust of Internet banking technology and not just on the part of customers but in the view of the banking industry in Saudi Arabia as well. Recommendations Arising from this study is a recommendation for research to be conducted examining the quality of banking service provision by banks in the Kingdom of Saudi Arabia with a focus on technology use.    References Memon, N.A. (2007) Islamic Banking: Present and Future Challenges. Journal of Management and Social Sciences. Vol. 3, No. 1, (Spring 2007) 01-10. Institute of Business and Technology (BIZTEK). Retrieved from: biztek.edu.pk/downloads/research/jmss_v3_n1/1-islamic%20banking.pdf A Case Study On Globalization and the Role of Institution Building in the Financial Sector Saudi Arabian Monetary Agency. February 2004. Retrieved from: sama.gov.sa/sites/samaen/OtherReportsLib/SK521-04(CaseStudyonGlobalization-RoleofInstitutionBuildinginSaudiArabia-Final)Dr.Shaukat.pdf Al-Fawzan, MA (2005) Assessing   Service Quality in a Saudi Bank. J. King Saud Univ., Vol. 18, Eng. Sci. (1), pp. 101-115, Riyadh (1426H./2005). Sohail, M.S. and Shaikh, N.M. (2008) Internet banking and quality of service: Perspectives from a developing nation in the Middle East. , Online Information Review, Vol. 32 Iss: 1, pp.58 72 Jasimuddin, Sajjad M. (2010) Saudi Arabianu Banks on the Web. Array Development. Retrieved from: tenso.fr/emarketing/wp-content/uploads/2010/05/Aper%C3%A7u-de-%C2%AB%C2%A0Saudi-Arabian-Banks-on-the-Web%C2%A0%C2%BB.pdf