Corporate Social Responsibility In The Banking Sector Finance Essay

Corporate Social Responsibility In The Banking Sector Finance Essay Since ancient times banking practices have always played a significant role in the development and progress within an economy. Banks facilitate financial transactions by collecting deposits from savers and lending loans to those in need of credit. Thus, it enables those that have surplus funds to meet with those who need further funds for expansion and investment purposes. However, it is often the case that mismatches occur between the period at which a depositor wants to save his money and the period at which a borrower would be able to pay up the amount owed by him. Therefore, as an intermediary a bank has to find ways with which to manage the mismatch between short term liabilities of the bank (such as deposits) and long term assets (such as loans). First and foremost a bank needs to be perceived as being trustworthy and thus needs to gain the publics confidence in order to attract financing. It is needless to say that if a particular bank were to go bankrupt, apart from its shareholders, the general public would also suffer considerably. The collapse of a bank might result in the loss of lifetime savings of individuals and families which were held at the particular bank. This would consequently undermine peoples confidence in the financial sector and drive other people to withdraw their money from their own banks which may in turn result in having other sound banks facing serious difficulties to cater for high volumes of withdrawals since a bank in its own nature of doing business holds only a percentage of the funds acquired by depositors and invests the rest in less liquid assets with longer maturities (such as mortgage loans). It is therefore of prominent importance that for an economy to prosper and grow, and thus for the general wellbeing of the whole community, there needs to be at its core a sound and efficient financial system and that the general public also perceives the system to be sound and trustworthy. In trying to address this issue policy makers have sought to achieve healthy financial systems and to promote public confidence through numerous legislations and regulations. In fact, the financial market is one of the most regulated markets in any economy, particularly the banking sector so as to minimise the risks that a bank is exposed to. For decades banks were severely restricted with respect to the services offered to clients, as well as methods allowed for financing and investments. This hindered the ability of banks to be competitive with other financial institutions that were not classified as banks and that had more lax regulations which enabled them to offer a wider range of services and take up more risks to finance their operations. Because the highly regulated financial environment was stifling competition between banks and non-banks, regulators loosened up their regulatory requirements so as to create a level playing field for all the financial institutions. With more lax regulations banks are able to take up more risks and offer a wider range of services to clients meaning also that banks have higher risks to fail or that the publics confidence will be more prone to be undermined because of riskier activities performed by banks. Higher risks and loss of confidence would lead to financial instability and, in some cases, to financial crises where the whole financial market is depressed. This in turn slows down the whole economy since the financial sector is the backbone of an economys financing. It is thought that one of the factors that in fact contributed to the 2008-09 financial crisis was a highly deregulated environment (Shah Gilani, 2005-2011). It is also typical that after financial crises regulators start reviewing their supervisory and regulatory standards and reregulate the industry once again. After the financial crisis of 2008-09 regulators are now imposing new regulations in order to ensure that another world financial crisis is avoided. The new amendments require banks to hold even more capital as a buffer for a given amount of risk it is exposed to than it was already required by law. This process of regulation, deregulation and reregulation is a continuous process that changes as the market itself develops and creates new services and thus is exposed to new risks. Deposit Insurance Agencies are set up for public safety against bank failures. However, in essence it is ultimately the tax-payers themselves that pay the price as the government intervenes to bail-out problematic banks. Because managers running banks are aware of the fact that if the bank fails the government will intervene, it is more likely that they engage in more risky activities and do not exert appropriate due diligence in the running of the business. This problem is known as moral hazard. Thus banks are more likely to engage in hazardous behaviour since if they fail the government will intervene and will not allow the bank to go bankrupt in order to safeguard the public interest. Also, banks are more difficult to have their performance evaluated than other businesses because of the complexity of the business itself. Thus this creates the problem of asymmetric information or, stated in other words, the problem that not everyone has the same opportunities to access the same information. Managers and interns within the banking institution have better information on the performance of the bank than outsiders have access to. This is diminished partially through required disclosure and other regulations that deal with insider dealing in order to promote transparency in the financial markets which again will enhance public confidence. However, it is not the first time that we hear about insider dealings or that disclosure of misleading information was presented to the public. It is therefore clear that although regulation plays an important role in ensuring market stability, efficiency and fairness it is not enough. As John R. Boatright (1999:7) brilliantly describes in his book Ethics in Finance the law is not the only guide within the financial sector. What is legal is not necessarily moral. He then goes on to define the law by saying that it is simply a crude instrument and cannot be used to regulate all financial activities because of their complex nature. Excessive regulation stifles competition, hinders innovation and it is difficult to regulate certain issues that arise within the financial industry such as the issue of conflicts of interests. Therefore self-regulation is nonetheless important in this highly regulated market and the implementation of CSR within the banking industry has yet a unique and special role as much as the role of a bank itself is unique within a community. History: BAnking Practices and Society Banking practices in the past were mainly carried out through the acceptance of gold and deposits to then issue loans with those deposits. Bankers profits consisted mainly in hefty interests received from loans. Bank customers consisted mainly of kings and the papacy during the 1500s up to 1600s and large loans were lent to finance wars and elections. Few can be said with regards to CSR before the 1900s in the implementation of banking practices as is the case with other businesses of the time. However, one may mention the Fugger Family which was one of the greatest banking dynasties after the Medici in the late 16th century. Namely Jacob Fugger established a community for the poor, known as the Fuggerei, which was built in Augsburg in 1519 and is still in use today (Bamber, 2001). This shows evidence of the paternalistic ideology that strongly characterised the economic sphere and business tendencies till the late 1800s. One may also note the great influential power that the banking sector exerted as early as the 16th century as the Fugger family financed Maximilians grandson Charles to bribe his electors; while in the 19th century the Rothschild family financed all of Napoleons enemies. The decisions undertaken by the bankers obviously had an impact on the outcome of events (Bamber, 2001) which shows that from the early stages of the industry banking practices had a strong influence on political, economic and social outcomes. As banking and lending practices were developed, these were not always considered as fair and just as we may know them today. Banks and other financial institutions tended to arbitrarily choose to whom financial services are given, often denying these services to people of colour or the poor. This could be freely done by banks after the process of deregulation giving them more leeway in their practices then before. This discriminatory practice is known as redlining because some bank managers used to arbitrarily mark residential areas occupied by coloured or poor people in red on geographic maps during the 1930s. Areas marked in red were denied financial services and this had a serious impact on urban development since these lacked the funds necessary for investment and developments leading to further urban decay (Boatright, 1999:101). It was not until 1968 that banks were prohibited by law to discriminate on housing lending through the enactment of the Fair Housing Act followed by a series of other regulations thereafter (Hunt, 2005). CSR initiatives developing in the 1950s in the business industry had a ripple affect also on the banking sector were through sanctions and regulations concerning environmental issues on polluting companies banks were also forced indirectly to take action and exercise more attention in the selection of corporate clients in order to safeguard their reputation. The 1980 Superfund in the U.S. and the Directive on Civil Liability for Damage Caused by Waste adopted by the European Commission in 1989 are namely two regulations relating to environmental concern emanating from business operations (IISD, 2010). The Fleet Factors Case of 1990 was one of the first proceedings in the U.S. that directly attributed responsibility for environmental damages caused by their corporate clients as the courts decided that lenders held the capacity to influence the borrowers waste management decisions even if it actually did not do so (IISD, 2010). The UNEP Financial Institutions Initiatives; (UNEP FI) was launched in 1992 with the collaboration of Deutsche Bank, HSBC Holdings, Natwest, Royal Bank of Canada and Westpac in an attempt to garner financial institutions to promote awareness on the pivotal role that the financial sector has in sustainable development and environment protection and to unravel further on the relationship between economic development, environmental protection and sustainable developments (UNEP FI, 2011). During the same year the UNEP Statement by Financial Institutions on the Environment Sustainable development was drafted articulating further the role and responsibility taken over by financial institutions in contributing towards sustainable development in businesses and safeguarding the environment (UNEP FI, 2011). Another Green Paper set out by the European Commission in 1993 required that liability was assumed by the polluter and in case where the responsible party is not identified or unable to pay joint compensation funds financed by the industry should meet such costs on their behalf. The commission addressed also the problems of causation and insurability where more responsibility was exerted upon the shoulders of financial institutions (IISD, 2010). The UNEP was a main contributor to spread awareness and foster a socially responsible attitude in the way business was conducted within financial institutions through international round table meetings and global surveys on the environmental practices of the financial services sector (IISD, 2010). Thus, banks started experiencing more pressure to avoid the so called sin stocks and pay attention to the social performance of corporate clients and not only to financial performance. Many other international guidelines have been developed recently and it is important not to forget to mention the contribution of the International Finance Corporation (IFC) which is a member of the World Bank Group towards sustainable development and in promoting fair, open and competitive markets in order to fight poverty (IFC, 2010). Their common shared values found on the IFC website are depicted as follows: To fight poverty with passion and professionalism for lasting results. To help people help themselves and their environment by providing resources, sharing knowledge, building capacity, and forging partnerships in the public and private sectors. In 2003 the IFC drafted the Equator Principles, a set of guidelines that may be voluntarily adopted by banks aimed to facilitate and aid these institutions wishing to carry out operations in a socially responsible manner. Essentially, the Equator Principles are nothing more than a financial industry benchmark for determining, assessing and managing social environmental risk in project financing (The Equator Principles, 2006). The Principles are targeted towards the financing of corporate clients whose investment projects are environmentally and socially responsible and include also advisory services offered by financial institutions with regards to project financing.  [1]   Who Cares Wins was an initiative undertaken by the financial industry, the UN Global Compact, IFC and the Swiss Government during 2004 (UN Global Compact, IFC, Federal Department of Foreign Affairs, 2009, 2010:3). According to this report, the main aim of this initiative is to support the financial industrys efforts to integrate environmental, social and governance (ESG) issues into mainstream investment decision-making and ownership practices through a series of high-level meetings with investment professionals. Again, here the goal is that of promoting socially responsible project financing through SRI. The United Nations-backed Principles for Responsible Investment Initiative (PRI) are a set of six principles set up in 2005 in collaboration with some of the worlds largest institutional investors (UNPRI, 2011). This initiative was set up in partnership with the UNEP FI and the UN Global Compact. These principles posit the idea that since environmental, social and corporate governance issues may affect the performance of investment portfolios, thus it is important that an investor takes these issues into consideration when making investment decisions and therefore contribute also to the general wellbeing of society (UNPRI, 2011). One may mention numerable banks that are truly committed towards the maxim of doing well by doing the right thing and that actively participate with International NGOs to contribute towards the general wellbeing of communities. Deutsche Bank, HSBC Holdings, and UBS are amongst the most known environmentally and socially driven banks in Europe. For the purpose of this thesis I will now proceed on to scrutinising and analysing the CSR policies of the banks mentioned to then compare them with those policies of three leading Maltese banks namely APS Bank, Bank of Valletta (BOV), and HSBC Malta in a later chapter. All information related to the CSR initiatives undertaken by the foreign and Maltese banks selected was extracted from their respective websites and CSR Reports. The main aim is to evaluate the transparency adopted by the Maltese banks and thus the extent to which they inform the general public in the way they go about their commitments towards society relative to well-establish ed and successful foreign banks. CSR Policies of Foreign Banks This section will give an insight on how some foreign banks known as being committed towards sustainable development, environmental and socially responsible project financing are currently engaging in CSR policies in order to achieve their goals and manage to be profitable and attract business by undertaking such activities given the existing highly competitive environment from other financial and non-financial institutions. For the purpose of this dissertation, the three foreign banks chosen are headquartered within the European Union territory since the Maltese way of doing business is very similar to the way it is conducted in Europe even CSR-wise and therefore it will facilitate comparison between foreign and Maltese banks. Furthermore, HSBC Holdings was selected specifically since it is the parent company of HSBC Malta which will be discussed in detail in the next chapter. Deutsche Bank Deutsche Bank is a leading German and European financial institution successfully expanding its business globally with a work force of over 100,000 employees in 74 countries and offering a vast selection of financial services worldwide (Deutsche Bank AG, 2011). Deutsche Bank mission statement can be found on its official website as follows: We compete to be the leading global provider of financial solutions, creating lasting value for our clients, our shareholders, our people and the communities in which we operate. From the mission statement itself we may denote that the bank is committing itself not only towards its shareholders, clients and employees but their mindset is also headed for the benefit of the communities and their social needs. The banking institution has also formulated a set of values which drive its business orientation. One of these values set out on the banks website is trust where the bank claims confidently its trustworthiness, reliability and honesty. Other values mentioned are performance, teamwork, innovation, and client focus. Finally, the bank also promises stakeholders that the corporation will be operating with responsibility, keeping in mind not only current factors and issues in their decision making but also future consequences and factors that may arise due to todays decisions (Deutsche Bank AG, 2010). We may note by glancing briefly at the way the bank presents itself that it already carefully depicts itself as being socially and environmentally responsible in all aspects of its structural organisation. This however, is nothing new as all businesses especially banking institutions wish to be alleged as being ethical, trustworthy, honest and socially responsible so as to foster public confidence in their business. The bank has also received numerous awards or been ranked first for several social, environmental and corporate governance categories during 2010 some of which include Environmental Rankings, Art and Work Awards, and Top Companies that Care among others. In 2011 the bank has already been awarded the Charity Organisation of the Year 2010 and the European Employee Volunteering Awards 2011 (Deutsche Bank AG, 2011). Deutsche bank is renowned for its CSR initiatives internationally nurturing social and environmental awareness while working to alleviate such issues in communities where it operates. According to the banks official website (Deutsche Bank AG, 2011), Deutsche Bank focuses its CSR strategy in the areas of corporate volunteering, social investments, art music and education. The Communications CSR function is responsible of the banks global CSR initiatives followed by the approval of such initiatives by the Chairman of the Management Board (Deutsche Bank AG, 2011). Coordination of CSR operations is prepared at headquarters and then delegated to and implemented locally by the institutions regional teams (Deutsche Bank AG, 2011). This ensures effectiveness and efficiency through its initiatives and as perceived by the bank itself, it makes sure that it is acting as a responsible corporate citizen showing quite clearly that the bank favours and adopts the Corporate Citizenship Theory expl ained in the first chapter of this thesis. Deutsche Bank has set up ten CSR units in total till now dispersed globally which are namely the Deutsche Bank Foundation, Deutsche Bank Americas Foundation, Corporate Citizenship UK, Deutsche Bank Africa Foundation, Deutsche Bank Asia Foundation, Deutsche Bank Mena Foundation, Alfred Herrhausen Society, Historical Association of Deutsche Bank, Transatlantic Outreach Program (TOP), and finally Deutsche Bank Donation Fund (Deutsche Bank AG, 2010). Through these organisations the bank manages its CSR operations worldwide and creates what the bank calls social capital through sustainability, corporate volunteering, social investments, art music, and education (Deutsche Bank AG, 2011); thus, the bank is CSR oriented at all levels of its operational, and organisational structure. Figure 2.1  [2]  : CSR at Deutsche BankFounded: 1992 Budget 2009: à ¢Ã¢â‚¬Å¡Ã‚ ¬ 3.2 m. The non-profit Alfred Herrhausen Society is the international forum of Deutsche Bank. Its work focuses on new forms of governance as a response to the challenges of the 21st century. The Alfred Herrhausen Society seeks traces of the future in the present, and conceptualizes relevant themes for analysis and debate. It works with international partners across a range of fields including politics, academia, and business to organize forums for discussion worldwide. www.alfred-herrhausen-society.org/en The banks total investments for the year end 2009 amounted to à ¢Ã¢â‚¬Å¡Ã‚ ¬81.1 million of which 39% were invested in social investments, 29% were attributed to education and 27% were allocated to art and music (see figure 2.2 below). Deutsche banks investments were mainly targeted towards Germany, with total investments amounting to 45% at the end of 2009, followed by the Americas at 23%, and 12% of these funds were allocated to Asia Pacific and the UK. Deutsche Banks investments in Europe/Middle East and Africa amounted to only 8% of the funds (see figure 2.3 below). Figure 2.2  [3]  Figure 2.3  [4]   Regional split of total CSR investments Share of total investments per area of activity Kate Cavelle, Director of Corporate Citizenship at Deutsche Bank in the UK, stated that the four main reasons why investment banks care about CSR are social responsibility, staff motivation, client and public perception during an interview conducted by The Gateway in 2010. She also argued that at Deutsche Bank it is recognised that the bank should be highly committed towards CSR. In the UK, Deutsche Bank engages in initiatives such as promoting education so that young people may reach their full potential (The Gateway, 2010). Social Investments undertaken by the bank also include work with the homeless and unemployed persons and works closely with several other UK organisations such as the Globe Theatre and Design Museum. The bank also supports young artists through the sale of art acquired by the bank while keeping employee morale high by changing its art collections through time (The Gateway, 2010). Deutsche Bank is also involved in a microfinance programme where loans are granted with lower interest rates to persons who otherwise would not be able to be granted any credit. According to Kate this is also a good and safe investment undertaken by the bank and thus microfinance is beneficial for the business as well. The bank also encourages employees to get involved in voluntary work and helps out in finding activities that employees may engage in (The Gateway, 2010). On another note, according to an article written in the Financial Times of 23rd March, 2011, Deutsche Bank was sued for breaching its duties when the bank sold a complex interest rate product to a corporate client. The bank was fined à ¢Ã¢â‚¬Å¡Ã‚ ¬541,000 to compensate for the damages inflicted on the client as judge Ulrich Wiechers claimed that the bank should have been clearer when advising the client about the risks involved. Apparently the bank is involved in other eight similar cases at the federal court level involving complex financial instruments known as swaps while it has 17 cases at lower courts (The Financial Times, 2011). This may indicate that although the bank is highly committed and publicly declares its commitments towards sustainable business in its operations, there is still some work to be done in implementing such goals in the day to day transactions and operations undertaken by the bank. HSBC Holdings HSBC is one of the largest financial institutions in the world and is headquartered in London. It operates in 87 countries across the globe. According to the banks official website the bank was established in 1865 to cater for the increasing trade between China and Europe and was named after its founder which is The Hong Kong and Shanghai Banking Corporation Limited. The bank offers a wide range of financial services to cater for different customer needs including Personal Financial Services, Commercial Banking, Global Banking and Markets, and Private Banking (HSBC Holdings plc, 2011). The banks values can be summarised into four concise points found on its official website. HSBC is open to different ideas and cultures; connected with its customers, community and each other; and finally dependable and doing the right thing (HSBC Holdings, 2011). The bank is thus promoting itself as embracing an inclusive environment between employees, and has effective and efficient communication throughout all levels of the organisation including communication with its stakeholders while undertaking sustainable and responsible business practices. By managing risks the bank aims at addressing business opportunities in a sustainable manner and by taking into consideration present and future impacts upon the environment and communities, in particular poorer areas (HSBC Holdings plc, 2011). The bank is also enlisted and involved in a number of external organisations among which are the UN Universal Declaration of Human Rights, UNEP FI, UN Global Compact, Global Business Coalition on HIV/AIDS, Global Sullivan Principles, OECD Principles for Multinational Enterprises and the Equator Principles (HSBC Holdings plc, 2011). HSBC believes that through robust business and sustainable revenues it is also primarily contributing towards the economy, the environment and to the communities and hence, maximising also stakeholder needs (HSBC Holdings, 2011). This statement, in my opinion, is almost synonymous with the arguments put forward in the SVT Theory and Adam Smiths invisible hand that by maximising shareholder wealth, one is also contributing to the benefit of the other stakeholders automatically. The bank is also involved with NGOs so that it may identify how to manage better sustainable risk, while it also works with NGOs to raise financial awareness and help customers on how to manage their finances, thus reducing risks of loan defaulting and keep their home ownership, while of course reducing further the banks risks related to these loans (HSBC Holdings, 2011). According to the banks website, it also engages in SRI investments and responds to several surveys and indices from various organisations. HSBC considers managing the environmental and social impacts of providing finance to our customers as part of business as usual. (HSBC Holdings, 2011). Thus, HSBC describes its commitment towards CSR through the assessment of their corporate clients as being ingrained in the nature of their business, and it seems that the bank acknowledges that this is the right way of doing business. Apart from abiding by the Equator Principles, HSBC has also set up a set of risk policies for sensitive areas such as chemicals, defence, energy etcà ¢Ã¢â€š ¬Ã‚ ¦ (HSBC Holdings, 2011). Through its financial services operations the bank is committed to reducing carbon emissions and because climate change impacts directly the banks customers and its own operations, according to the official website, the bank perceives that it is of utmost importance that these issues are included in its strategies. The bank also engages with microfinance institutions (MFIs) which provide loans and other services to cust omers. According to the HSBC official website, in India the bank is working with 11 MFIs to provide for financial services to people in rural and urban areas (HSBC Holdings, 2011). The bank also provides for financial services in rural areas situated in China making it easier for farmers and people living in these areas to access such services. The bank also provides for funds in constructing better water infrastructures (HSBC Holdings, 2011). The bank feels that it is contributing towards the communities it operates in by providing services to clients, employment, meeting its regulatory obligations and other obligations to suppliers, investments in local business and through financial donations or voluntary work and in this way it also secures its success as a bank (HSBC Holdings, 2011). Following to the information found on its website the bank allocated the sum of $100 million to community investments as at the year ending 2009. The bank entered into a partnership with SOS Childrens Villages in 2006 and established Future First to aid less fortunate children around the world with their educational needs. This initiative has expanded significantly throughout the years and over 500,000 children benefit from this programme around the globe (HSBC Holdings, 2011). JA More Than Money is an initiative monitored in promoting financial awareness among the youth and is run by HSBC volunteers. Children attending this educational p rogramme range from seven to eleven years old. The bank has also set up other programmes namely the HSBC Climate Partnership which is a five year programme targeted to reduce climate change and its impacts on society and the environment and HSBC Eco-Schools Climate Initiative to raise awareness in school on climate change and what action can be taken to reduce its impacts (HSBC Holdings, 2011). In the section dedicated to sustainability reporting on the official website of HSBC one may find a number of sustainability reports. The following table was extracted from the HSBC Holdings plc Sustainability Report for 2009 illustrating the implementation of the Equator Principles in the granting of loans. Table 2.1  [5]  : Adoption of Equator Principles in the Granting of Loans The bank granted only 5 loans which fall under Category A, meaning that these loans may have adverse social or environmental impacts that are diverse, irreversible or unprecedented. Although small in number, the bank still granted such loans to its clients, with a total value of 1,296 almost 7 times larger than the value granted in 2008 of 178. In 2009 the Category B and Category C amounted for the most part of loans granted by the bank. Figure 2.4  [6]  : Division of Clients Compliance with HSBC Environmental Policies Most of the clients comply with HSBCs policy totalling 75% and amounting to 82% in loan value while there are still some clients that do not comply at all with this policy even though these are very small in number and even smaller in value. The banks community investments where mainly allocated towards education, which amounted to 45% while 29% where allocated to environmental investments as illustrated in figure 2.5. The bank also encourages employees to engage in voluntary work, and it works towards reducing carbon emissions on its premisses (HSBC, 2009:16). Figure 2.5  

Approaches for Green Computing

Approaches for Green Computing The advancements of technologies and machines by humans have led to one significant change all over the world and that is the climate change and other environment related changes and problems. People in all countries are thus trying to reduce their consumption of power and depleting natural resources for protecting the future of their future generations. This is one of the major agendas on which the people are working to make sure that the world doesn’t go worse than what it is.Hence, green computing has been adopted by all computer enthusiasts and computer scientists. We would discuss the major approaches that can help achieving green computing. Development of hardware that requires lesser power is one of the most commonly used approaches for green computing. Engineers from everywhere are developing new hardware systems that would consume less power. Special screens, special processing units and even devices run on solar power are being develope d on a regular basis.Human minds work in mysterious ways and one of the weird yet smart ways in which people have decided to reduce on the use of power by computers is virtualization, wherein the computer software is modified and designed in a way such that it can stimulate the hardware. Several companies making use of large servers and numerous systems have started adopting this method of virtualization for better output.Computer scientists have also initiated the use of cloud computing, a special measure that includes saving of all the information and even artificial intelligence over the internet. The power utilization of the servers making use of cloud computing becomes extremely less and hence this is one of the biggest advantages of the same. Where computer scientists are trying to adopt lower power consuming hardware, cloud computing is something that would assist in the process.Green computing is not only about lesser power consumption but includes several other measures and approaches. Computer scientists need to even take care of the recycling and disposal of the waste from manufacture and that of the computer systems themselves. Computer manufacturers need to make sure that they use the smartest technology available for production and even dispose of the production waste in a way such that it does not harm the environment.Thus we see that green computing is definitely the need of the future. Where computers have helped us in several ways and made our tasks easier, at the same time they have also caused some environmental harm. And it is crucial for us to identify these harm and then come up with technologies or ways of green computing to help save the future while making complete use of the technology for our own benefit. Reference link: http://classof1. com/homework-help/computer-science-homework-help

Qualities that a husband should have

Who will be the person I spend my life with? Before we even think about marriage, we should think about the quality of a guy that we should marry. So, do you have a dream guy? Here, I would Like to share the qualities that a husband should have. 1st of all, he must have faith In God. He should be the one that gulled you In knowing your religion better. By choosing a religious guy, you can avoid yourselves from doing wrong thing such as premarital marriage. Besides, a religious guy will treat you right because every religion forbids us from doing wrong things before marriage.Besides, I'm sure all of us want a caring and loving man. Imagine, you had just arrived from a hard day of work; your caring husband has already prepared you dinner. How sweet is that? A caring man will also take charge of his responsibility and he will not let you do everything alone. He can help to pay the bills, doing housework and taking care of your children. He can even help to take off your clothes! =P Hone sty, loyalty and trust, these are the three main recipes for a happily ever after. Never ever marry a guy that cannot be trusted, loyal and honest.But if oh do, you'll be like living in hell. Who want to marry a guy that play â€Å"wood -three†? Other than that, having a dishonest husband will only make you live in tears. I believe that every lie a husband make is similar to a pierce to our heart with a samurai sword. And if you can trust your husband, you will not have to worry about him. Last but not least, make sure he has a good Job and high salary. Nowadays, we cannot say that money is not important because we need money to survive in this modern era. I'm sure most of us, girls will be successful is the future.So, it's harder for you to find a man that can support your expenses. We should be able to depend on our husband and our husband should not depend on us for money. I would like to have branded handbags, watches, and clothes In the future. For girls, this Is why we study hard now right, so that we can have a good salary In the future? I'm sure we will go shopping here, shopping there, shopping here and everywhere. A husband with a handsome salary is Just like a bonus! As for the conclusion, marry a man that you love. Love can overcome anything. Love can change everything.If you love each other, you can overcome any difficulties. Remember, perfect guys do not exist, but there Is always an Imperfect guy which Is perfect for you. Who knows, you Mr.. Right Is Just right In front of you? Thank you. Qualities that a husband should have By grammaticalness some of us might already be married. Married? Be married to whom? Has it ever do you have a dream guy? Here, I would like to share the qualities that a husband should have. 1st of all, he must have faith in God. He should be the one that guide you in knowing your religion better.By choosing a religious guy, you can avoid you had Just arrived from a hard day of work; your caring husband has already y ou do, you'll be like living in hell. Who want to marry a guy that play â€Å"wood -three†? Branded handbags, watches, and clothes in the future. For girls, this is why we study hard now right, so that we can have a good salary in the future? I'm sure we will go you can overcome any difficulties. Remember, perfect guys do not exist, but there is always an imperfect guy which is perfect for you. Who knows, you Mr.. Right is Just right in front of you? Thank you.

Determining Databases and Data Communications Essay

Determining Databases and Data Communications In the two scenarios there are many ways that they can be solved or worked out to make them fit to the person working with them. They both deal with databases and communications that companies need to consider. In this paper we are going to discuss some of the options that companies or self employed business owners can use. Scenario One Some of the typical fields that could be used would be of the booth equipment by piece, what equipment you will need by piece, what company is shipping the components and the expected arrival date and time. By having all of this information you will be able to use it as a checklist to ensure that you have all the required pieces and components for the trade†¦show more content†¦The best database to use in this scenario would be a personal one. Since a personal database is used more for a small workgroup of fewer than 100 people and normally for fewer than 15 people would work the best, (Kroenke, 2012). The reason this would work the best is because that not everyone in the business work the trade shows so not everyone will need to have access to the database, this will ensure that nothing is inputted incorrectly or misused. A decisions support system would come in handy when deciding on which carrier to hire for the equipment and booth components. By having this system could help keep the cost low for shipping and if the carrier can be responsible you could use them all the time and refer them to other customers. By doing this it will help after the trade show is over and you get all the equipment back to your office in one piece and will not have to do extra paperwork for lost or damaged equipment. Scenario Two The business will only need a LAN. Since the business is small enough and in one geographic location a LAN will be able to support this business, (Kroenke, 2012). With the business having a LAN they can run the cables for it anywhere they want. The LAN also has the capability of having a wireless connection, depending on how far away the employees reside they might be able to use the wireless portion of the LAN as long as they have a WNIC. The business will also requireShow MoreRelatedDetermining Databases and Data Communication1148 Words   |  5 Pagesto the home office, I need to ensure that all components of the booth and equipment have arrived and in case of shipping damage or loss, I handle it. In order to achieve my task efficiently, I need a simple management system to handle it. For each data, I need fields to identify their characteristics. These are as below: 1. Booth components - Name of each component - Quantity of each type of component - Status of the components - Brief description about the components - Instructions forRead MoreDetermining Databases and Data Communications Essay1397 Words   |  6 PagesDetermining Databases and Data Communications BIS 320 University of Phoenix Instructor: Cornell Perry In this paper the writer will seek to respond to the questions designated for both scenarios. This paper will list typical fields for each type of data. Provide an example of two relationships that you need to track. This paper will also answer the questions of: Do you need a database system? If not, can Excel ® handle the data and the output? What are the advantages and disadvantagesRead MoreIdentifying Databases And Data Communication1099 Words   |  5 Pagespaper will identify the best possible decisions used in determining databases and data communication. I will discuss and respond to two scenario-based questions. As a marketing assistant for a company and I have to tracks data about booth components, equipment, shippers, and shipment. I will determine if a database system is suitable or whether an Excel is more appropriate. I will also decide if I will use a personal or enterprise database. In the second scenario I will decide type of networkRead MoreComputer and Points Received1212 Words   |  5 Pages | | Points Received: | 0 of 10 | | Comments: | | | | 4. | Question : | (TCO C) Which common database challenge is illustrated by the text s discussion of receiving multiple pieces of the same direct mail advertising with an identical address? | | | Student Answer: | | Data normalization | | | | Data accuracy | | | | Data redundancy | | | | Data quality | | Instructor Explanation: | p. 231 | | | | Points Received: | 10 of 10 | | Comments:Read MoreCustomer Relationship Management : A Strategy Of Managing Customer Relationships1523 Words   |  7 Pagesthe customer segment and how can the value be enhanced. To create customer profiles includes customer profiles customer demographics, psychographic data, and direct and indirect communications with the company in order to develop product, service offerings, marketing campaigns, growth and retention. Granular data-Highly detailed, highly personalized data specifically structured around an individual customer. Big companies embrace the vision and long –term goal of capturing and retaining customers.Read MoreRole Of Core Technologies On An Effective It System Essay714 Words   |  3 PagesThe core roles of these technologies play an important part to keep this world as we know it to operating on a day to day basis. The basis of the technology that makes IT System useful is Computer Networks, Information Assurance, Wed Technologies, Database, Computer Programs and Programming. In order for IT System to become active first Computer Programs and Programming must be put in place. Computer Programs and Programming are simple terms an executable set of commands for the computer to performRead MoreThe Importance Of Managing Big Data823 Words   |  4 Pagesthe large data of citizens which has up-to date information and is collected from different sources is not an easy task. It requires big financial commitment. For ex, people are not always update their contact information or residence status. While acquiring the information, campaigns also need to be observing their own processes carefully as to reduce the accidental encounters and interviews with citizens who have already been contacted multiple times. Another issue with managing big data that theRead MoreWhy Are Information Systems So Essential For Running And Managing A Business Today?1458 Words   |  6 Pagesbusinesses because they process data from the businesses’ input to generate information t hat is crucial for managing operations. The following points will explain why information systems are important to businesses: †¢ Operational Excellence: Higher profitability can be achieved through improving efficiency of operations. Businesses can achieve this by constantly having the correct amount of stock in stores to make sure customers can always get want they want. †¢ Communications: Information systems playRead MoreProject Designs And Methods Paper987 Words   |  4 Pagescreation and consolidation of Emergency Department Complex Medical Team department records/procedures into an HTML database. The project designs and methods paper will detail the capstone project design and methods used to obtain necessary project related documents. The paper will also look at the role of interdisciplinary collaboration and ethical considerations. The decision to choose database consolidation was based on a need for Complex medical staff to have access to necessary records in order toRead MoreEssay on Mis535 Midterm1750 Words   |  7 Pages| Points Received: | 10 of 10 |    | Comments: | | | |   2. | Question : | (TCO A) Networking and telecommunications technologies, along with computer hardware, software, data management technology, and the people required to run and manage them, constitute an organizations | |    | Student Answer: | |   data management environment |    | | |   networked environment |    | | |   IT infrastructure  (Correct answer) |    | | |   information system |    | Instructor Explanation: |

Solons Reforms and the Rise of Democracy in Athens

First coming to prominence (c. 600 B.C.) for his patriotic exhortations when Athens was fighting a war against Megara for possession of Salamis, Solon was elected  eponymous archon  in 594/3 B.C. and perhaps, again, about 20 years later. Solon faced the daunting task of improving the condition of: debt-ridden farmerslaborers forced into bondage over debt, andthe middle classes who were excluded from government, while not alienating the increasingly wealthy landowners and aristocracy. Because of his reforming compromises and other legislation, posterity refers to him as Solon the lawgiver.   Such power I gave the people as might do, Abridged not what they had, now lavished new. Those that were great in wealth and high in place, My counsel likewise kept from all disgrace. Before them both I held my shield of might, And let not either touch the others right.- Plutarchs Life of Solon The Great Divide Between Rich and Poor in Athens In the 8th century B.C., rich farmers began exporting their goods: olive oil and wine. Such cash crops required an expensive initial investment. The poorer farmer was more limited in choice of crop, but he still could have continued to eke out a living, if only he had either rotated his crops or let his fields lie fallow. Slavery When land was mortgaged, hektemoroi (stone markers) were placed on the land to show the amount of debt. During the 7th century, these markers proliferated. The poorer wheat farmers lost their land. Laborers were free men who paid out 1/6th of all they produced. In the years of poor harvests, this wasnt enough to survive. To feed themselves and their families, laborers put up their bodies as collateral to borrow from their employers. Exorbitant interest plus living on less than 5/6ths of what was produced made it impossible to repay loans. Free men were being sold into slavery. At the point at which a tyrant or revolt seemed likely, the Athenians appointed Solon to mediate. Relief in the Form of Solon Solon, a lyric poet, and the first Athenian literary figure whose name we know, came from an aristocratic family which traced its ancestry back 10 generations to Hercules, according to Plutarch. Aristocratic beginnings did not prevent him from fearing that someone of his class would try to become tyrant. In his reform measures, he pleased neither the revolutionaries who wanted the land redistributed nor the landowners who wanted to keep all their property intact. Instead, he instituted the seisachtheia by which he canceled all pledges where a mans freedom had been given as guarantee, freed all debtors from bondage, made it illegal to enslave debtors, and put a limit on the amount of land an individual could own. Plutarch records Solons own words about his actions: The mortgage-stones that covered her, by me Removed, -- the land that was a slave is free;that some who had been seized for their debts he had brought back from other countries, where-- so far their lot to roam, They had forgot the language of their home;and some he had set at liberty, --Who here in shameful servitude were held. More on the Laws of Solon Solons laws do not appear to have been systematic, but provided regulations in the areas of politics, religion, public and private life (including marriage, burial, and the use of springs and wells), civil and criminal life, commerce (including a prohibition on export of all Attic produce except olive oil, although Solon encouraged the export of artisans work), agriculture, sumptuary regulation and discipline. Sickinger estimates there were between 16 and 21 axones that may have contained 36,000 characters total (minimum). These legal records may have been placed in the Boulouterion, Stoa Basileios, and the Acropolis. Although these places would have made them accessible to the public, how many people were literate is not known.   Sources: J.B. Bury. A History of GreecePlutarchs Life of SolonRichard Hookers (wsu.edu/~dee/GREECE/ATHENS.HTM)  Ancient Greece: AthensJohn Porters SolonUniversity of Keeles Classics Departments  Athenian Democracy  (www.keele.ac.uk/depts/cl/iahcla~7.htm - accessed 01/02/2000)History of Greece Vol II, by George Grote (1872).

Segregation Within The Housing Market - 843 Words

When people talk about racism throughout modern society, a question that emerges is â€Å"How does modern racism influence residency and neighborhoods in economic and political viewpoints?† Some argue that segregation within the housing market has been a devastating, long-term, issue for African Americans as a result of racial zoning due to income along with race, while others believe that the United States has indeed enforced policies to prevent blacks from obtaining and maintaining wealth to merge with white communities. My own view is that there is not an individual economic or political reason to link the issue of residential segregation, but a combination of both working with one another to promote this notion of residential segregation. Evidence to support my claim include an understanding of what racism actually is, either systematic, institutional, or prejudice throughout modern society. Then, racism understood throughout the housing market with political and economic support. Furthermore, what racial zoning is and its effect on neighborhood value, such as economics, politics and education. Finally, historic evidence and witness accounts to support residential segregation, and opinions on the matter. In Eduardo Bonilla-Silva’s book, Racism without Racists : Color-blind Racism and the Persistence of Racial Inequality in the United States, his book serves as a focus on racial inequality which persists throughout the U.S, as very few white Americans would â€Å"claim to beShow MoreRelatedUrban Segregation And Its Effects On Residential Preferences Shaped By Liberal Market Forces And National Identity890 Words   |  4 Pagesthe topic of â€Å"inherited residential segregation patterns† (Leetmaa) among ethnic groups in post-communist Tartu, Estonia within the context of immigration policies implemented during the Soviet communist era. Using two dimensions – â€Å"preferences and segregation –ethnicity and neighbor affluence† (Leetmaa ,163), the study explores the possible causes of residential segregation in post-Soviet Tartu and its effects on residential preferences shaped by liberal market forces and national identity. TheRead MoreThe Emergence Of The Urban Ghettos1347 Words   |  6 Pagesmigrated north into industrial communities following both World Wars, the manifestation of the urban ghettos began to develop. In the early 1900’s we begin to see public housing programs, public improvement projects, redevelopment projects, urban renewal policies, and other factors being utilized to attain racial segregation within communities. With the rise of black populations in inner cities, manufacturing jobs were lured away with cheap land and low taxes. As industry funneled out of the citiesRead MoreStructure Of The Paper : The Article Is Presented Using The Journal Style Scientific Paper Format989 Words   |  4 Pagesis presented using the ‘Journal-Style Scientific Paper’ format. The authors introduce the topic of ‘ethnic segregation in post-Soviet cities’ within the context of Soviet immigration policies. The purpose of the study â€Å"explores how inherited segreg ation patterns have evolved in the city of Tartu, Estonia† (Leetmaa ,162) in the post-Soviet period marked by Estonian statehood and a free-market economy. The historical material is divided into four sections: 1) Soviet Era Migration – Introduces the SovietRead MoreSegregation And Effects On African American Communities1523 Words   |  7 PagesAndrew Garcia Dr. Markel 23rd July 2015 Phil 483 Segregation and Effects on African-American Communities I suppose the majority of society would have the illusion that segregation in the United States died with the Civil Rights Act in 1964 and Brown v Board of Education of Topeka in 1954. What most fail to realize is the profound, and devastating effect segregation continues to have on minorities, particularly the African American communities. Throughout the relative young history of the UnitedRead More21st Century Segregation: Are We Still Divided by Race?1642 Words   |  7 Pages21st Century Segregation: Are We Still Divided by Race? Racial segregation was a concept that began in early history and is still prevalent in some societies today. It is often seen as a destructive forceful tactic of separating individuals based on their racial background. However, many new immigrants voluntarily choose to live in a segregated society. Segregation can be easily seen in certain communities where there is a concentration containing a particular racial group. The area where oneRead MoreThe Development Of A Urban Planning763 Words   |  4 Pages Equity can be a hard concept to determine, as there is no hard and fast definition. In the context of urban planning in which there are various factors involved such as housing accessibility and affordability, sustainability, outside influence, transportation and other public services, equity can become even blurrier. Historically, urban planning came about as a way in which towns and cities could plan for natural disasters and naturally occurring events. One such example is the Netherlands inRead MoreThe Relationship Between School Choice And Segregation1044 Words   |  5 PagesSchool choice is a hot topic at the moment in the politics throughout Texas. Many seem to be against it, but see the benefits in the choice. Through this paper I research what the relationship between school choice and segregation is. Through this paper I will explore the isolation of the English language learning students and the challenges they face because of it. The location of schools and that reflects in their students, policies of the schools, and of the programs that they offer. LiteratureRead MoreThe Complexities And Processes Of Racial Housing Discrimination877 Words   |  4 PagesIn â€Å"The Complexities and Processes of Racial Housing discrimination† by Vincent J. Roscigno, Diana L. Karafin, and Griff tester, the main concept of racial disparity and inequality among neighborhoods is discussed, and how those inequalities became to be. They first highlight the wide range of potentially exclusionary practices, through qualitative and quantitative data comprised of over 750 verified housing discrimination cases (Roscigno, p. 162). Citing the U.S. Census, it is found that BlacksRead MoreMy Father Is A Native Of The Area1655 Words   |  7 Pagesflight took place. However I could not fathom how the majority leaving a city could leave the homes destitute. These curiosities lead to me the question: How have racial politics of the mid-to-late twentieth century affected Detroit s real estate market? What effect does this history have on natives of Detro it today? About a month ago, I watched a video in my sociology class that introduced me to the term, â€Å"redlining.† According to one of my articles from the University of Buffalo, redlining entailsRead MoreRacial Segregation : Race And Place At The Local Level Essay1602 Words   |  7 Pageslevel, that intentionally dehumanized the people of color justified the mistreatments. During the time the suburbs were constructed the G.I Bill effectively benefited whites, as whiteness itself is an indicator of certain public benefits, such as housing and rights that were granted. While on the other hand, those resources like property were deliberately rejected to Blacks and other minority groups. Aside from the National and State level, it is important to understand the relationship between race

Competitive Strategy Goals and Objectives

Question: Discuss about the Competitive Strategy for Goals and Objectives. Answer: Introduction: Strategy is wrongly anticipated with the term tactics, goals and objectives. Strategy is used to demonstrate acumen of a business (Walker and Madsen 2016). The leader generally formulates strategy as he has a better orchestration and vision of the future. This makes the leader different from the field commander and he coordinates all the necessary commanders for a particular goal to be achieved. He may sacrifice some of his commander when necessary for achieving a particular goal (Rothaermal 2015). The formulation of a good strategy is based on the following question. If these questions are having prolific answers then the company will be achieving success in terms of strategy. The company should have a good idea in choosing a market to compete. The company should have clear knowledge on the unique value it provides to the customer. They should provide some customization, styling and reliability on the products and services to gain faith and attract the customers (Bamberger, Biron an d Meshoulam 2014). The company should be confident enough on the resource and the capabilities they utilize. They should have exceptional human capital, superior technology, trusted network connections and an unique reputation in the market. They should have the capability in incepting the moves and weakness of the rivals (Bamberger, Biron and Meshoulam 2014). The company should have the knowledge about their ability to sustain and providing unique value in the market. According to Henry Mitzberg strategy is classified into three sub ordinates Intended Strategy, Emergent Strategy and Realized Strategy. Intended Strategy is the strategy that has been planned before the execution of the plan. Emergent Strategy is the outcome of the executed strategy after the plan has been implemented. Real Strategy is the strategy that emerges out and it may not be the same as intended strategy. Strategy is dependent on the staging and timing. The execution of plan in an inappropriate time may lead t o the falling of the strategies. Ethan Allen a company in furniture retail sector, the company started business from United States and is now globally established. The company is successful to a certain extent but has failed to implement certain strategies, which IKEA, a company in the same sector has successfully applied. IKEA focused on selling inexpensive, contemporary furniture that became famous globally (Wenzel and Forster 2013). Ethan Allen though has made a good job in choosing a market. They should include some unique value. The unique value should include a fun and low-pressure showroom where order fulfillment is a medium and is done with great ease. The company should focus on selling inexpensive and stylish furniture with the help of excellent design capabilities. Products are designed to be manufactured by suppliers with the help of mass production technique. The shifting of product is done by flat box method, which requires final assembling done by the final customer. The inclusion of this technique he lps in reducing the shipping cost (Levinson 2016). Therefore, the company could manufacture a huge volume of the product and shipped it round the globe. A complex interdependence of the strategy should be adopted so that the competitors find it difficult to imitate. The incorporation of this strategy would bound the competitors to change the design, manufacture and shipment, which would be impossible. The company should not compete on the high-end furniture business. They should not use high level of service for customization to the customer. They should be responsible for designing the product and not manufacturing it. Pankaj Ghemawat: CAGE framework to evaluate international trade opportunities Pankaj Ghemawat is an international strategic frame worker who developed the concept o CAGE framework. This framework provided an innovative way for the businesses to compute countries in regards of distance. The distance mentioned in the CAGE framework does not defines the physical geography but also defines the cultural, administrative and the economic distance between the concerned countries. The term CAGE stands for Cultural Administrative Geographical and Economical distance that should be analyzed before a company wants a global establishment. The cultural distance is the most puzzling situation faced by the manager at the time of constructing the framework. It has to deal with the probable dissimilarity that exists in different country. The manager has to observe certain values and behaviours that differ from one country to the other. The different cultural influences are recorded on the dimensions of power distance, avoiding uncertainty, predominant values, long and short ter m orientation and individualism (Ghemawat 2013). The Administrative distance is based on the political and official associations. It also includes the history of the countries. Administrative facet helps the trading partners to research about the historical as well as the current factors that has the ability for favoring or threatening the business relationship with the market of the country in future. Establishing the practice of trade between two countries could be considerably affected due to laws and regulations. As laws and regulations have the potential to affect fundamental practice of business therefore, they also have the ability to affect the competitive positions that the firm achieved through continuous hard work. The Geographic Distance deals with the difference of the volume of the country, climate, transport and information networks of the concerned countries. The advance technology has reduced the distance, time of transport. Technology has also eliminated the barrie r caused by geographic distance with the invention of digital services. The Economic Distance deals with the differences created due to income, wealth distribution and the power of purchasing a segment in terms of a geographic market. The economic distance creates great disturbances since the economic condition of one country is not same that of the other. Therefore, a product, which has a good selling record in one country, might has the poor record in another country (Ghemawat and Altman 2016). The application of CAGE framework needs to consider the facts like the distance of the company in terms of location from the home market to the foreign market and the cultural difference. It is also implemented in marking the institutional differences. The markets in emerging stage face great differences as many countries are devoid of specialized intermediaries. The lacking of special intermediaries is defined as institutional voids. Considering stage of McDonald when tried to take an entry in the Russian Market faced institutional void. The institutional void they faced was they failed to found adequate amount of local suppliers who has the capability to supply the food product they needed (Genna and Mayer-Foulkes 2013). McDonald in United States adapts outsourcing operation of supply chain management. In Russia they decided for a joint venture partner to overcome the voids. The company started importing cattle from Netherlands, potatoes from U.S. , specialist in agriculture from C anada for improving the management practices of Russia. They also funded the farmers for getting better seeds and tools. McDonald establishing supply chain management systems of its own and it controlled 80% of the food market in Russia by the end of 2010. Reference List Bamberger, P.A., Biron, M. and Meshoulam, I., 2014.Human resource strategy: Formulation, implementation, and impact. Routledge. Genna, G.M. and Mayer-Foulkes, D.A., 2013.North American Integration: An Institutional Void in Migration, Security and Development(Vol. 8). Routledge. Ghemawat, P. and Altman, S.A., 2016. 11 Economic Distance and the Big Shift to Emerging Economies.The Laws of Globalization and Business Applications, p.358. Ghemawat, P., 2013.Redefining global strategy: Crossing borders in a world where differences still matter. Harvard Business Press. Levinson, M., 2016.The box: how the shipping container made the world smaller and the world economy bigger. Princeton University Press. Rothaermel, F.T., 2015.Strategic management. McGraw-Hill. Walker, G. and Madsen, T.L., 2016.Modern competitive strategy. McGraw-Hill Education. Wenzel, H. and Frster, A., 2013. Blue Ocean Strategy. How IKEA created a new market.