Chapter 1â€the Importance of Business Ethics Test Banks Essay

------------------------------------------------- Chapter 1—The Importance of Business Ethics MULTIPLE CHOICE 1. Principles are a. | laws and regulations that guide behavior in the world of business. | b. | mores, values, and customs that guide behavior in general. | c. | specific and pervasive boundaries for behavior that are universal and absolute. | d. | the obligations businesses assume to maximize their positive impact and minimize their negative impact on stakeholders. | e. | the mores, values, and customs that parents teach their children. | ANS: C PTS: 1 REF: p. 7 2. Social responsibility is a. | an organizations obligation to maximize its positive effects and minimize its negative effects on†¦show more content†¦12 9. Ethics is a part of decision making a. | at all levels of work and management. | b. | primarily at the upper management levels of an organization. | c. | mostly for policy makers. | d. | that is less important than other decision making processes. | e. | only at that lower levels of organizational management. | ANS: A PTS: 1 REF: p. 5 10. Which of the following was developed in the 1980s to guide corporate support for ethical conduct by establishing a method for discussing best practices? a. | Federal Sentencing Guidelines for Organizations | b. | Defense Industry Initiative on Business Ethics and Conduct | c. | Corporate codes of conduct | d. | United States Sentencing Commission | e. | MERCOSUR | ANS: B PTS: 1 REF: p. 13 11. The _____ focus(es) on firms taking action to prevent and detect business misconduct in cooperation with government regulation. a. | United States Sentencing Commission | b. | Defense Industry Initiative on Business Ethics and Conduct | c. | World Trade Organization | d. | United Nations Global Compact | e. | Federal Sentencing Guidelines for Organizations | ANS: E PTS: 1 REF: p. 14 12. The study of business ethics is important to better understand all of the following except a. | that a persons own moral philosophies and decision-making experience may not be sufficient to guide him or her in the business world. | b. | how and why people makeShow MoreRelatedEthics Development Essay1423 Words   |  6 PagesEthics Development Ethics guide the decision-making and actions of an individual. More extensively, collective employee ethics shape the direction of a company. This document will explore sources of ethical influence, both for individuals, and organizations. 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Chases Strategy for Syndicating the HongKong Disney Loan Case Study

Essays on Chase's Strategy for Syndicating the HongKong Disney Loan Case Study Chase’s Strategy for Syndicating the HK Disney Loan Total Number of Words 273 Introduction Out of 17 major banks, Chase was chosen to finance the construction of HK Disneyland theme park and the resort complex (Esty, 2013a, p. 1). Basically, this paper will discuss the concept of project financing followed by explaining how HK Disneyland loan is considered as a project financing loan. After discussing how Chase bid the first competition, the meaning of ‘fully underwritten deal’ and ‘non-recourse finance’ will be clearly stated. Eventually, the risks associated with such deal will be explained in details. After identifying important considerations before signing the standard commitment letter, specific parts that need to be removed or altered will be tackled in details. Eventually, recommended syndication strategies for the loan will be highlighted in this paper followed by discussing how each of these syndication strategies can affect Chase’s risks and returns as the lead arranger. How HK Disneyland Loan is considered as a Project Financing Loan Project financing is a type of limited financing wherein the terms of debt are highly dependent on the actual performance of the project. HK Disneyland loan is considered a project financing loan because of its 15 years maturity period which is longer than the usual maturities of corporate financing loans, the loan has been extended in HK which is outside the boundary of the United States and in a much riskier country, and HK Disneyland has tangible assets that Chase may consider as a ‘fallback collateral’ (Esty, 2013a, p. 5). How Should Chase Bid the First Round of Competition? Three approaches that Chase had considered include: ‘bid to win, bid to lose, and no bid’ (Esty, 2013a, p. 4). ‘No bid’ should not be an option because it will remove Chase’s opportunity to earn profit from high-profile deal. As such, Chase will automatically lose high-profile deal to its aggressive competitors like HSBC and the Bank of China (Esty, 2013a, p. 4). Bidding aggressively increases the risks wherein Chase will not be able to meet their earning targets (Esty, 2013a, p. 5). Bidding to lose means that Chase will have lesser chance of winning the mandate. It means that even though Chase would protect itself from risky long-term deal, the bank also sets limit to the possible returns it could get out of its relationship with Disney. Therefore, instead of immediately bidding aggressively or bidding to lose, Chase should carefully evaluate and analyze the risks and returns associated with their syndicated credit abilities. For instance, potential return could mean strengthening the bank’s relationship with Disney on top of improving its global reputation as the best lead arranger of syndicated finance whereas potential risks include the loan’s credit risks, etc. Associated Risks and Differences of ‘Fully Underwritten Deal’ and ‘Non-Resource Finance’ ‘Fully underwritten’ deal means that the lead arranger is responsible or 100% committed in providing the terms and prices (Esty, 2013a, p. 20) whereas the ‘non-recourse financing’ means that the lender would determine the ability of the borrower to pay back the loan simply by looking through the project’s cash flow. Disney desires to have a fully underwritten deal plus the HK$3.3 billion non-recourse loan and the option to select a maximum of three (3) lead arrangers (Esty, 2013a, p. 3). In theory and practice, the risks associated with ‘fully underwritten deal’ include the fact that the underwriter or the lead arranger takes full risks in case of uncertainty such as market failure or the risks of force majeure. To protect the underwriter from the uncontrollable market failure or force majeure risks, the fee of underwriter is generally much higher in a ‘fully underwritten deal’ (Esty, 2013a, pp. 17-18). Based on the case study, HK Disneyland has no other collateral on top of the site which will be constructed on a future date. In fact, during the bidding period, the construction site for HK Disneyland was still scheduled for reclamation (Esty, 2013a, p. 3). Therefore, in case of non-recourse finance, Chase will take higher risks in case the borrower fails to pay back th e loan. Considerations Before Signing the Standard Commitment Letter The standard commitment letter itemizes and confirms the final agreed amount of loan, the terms for payment and the syndication strategies in details (Esty, 213a, p. 20). Before signing the letter, Chase should consider all possible changes that may occur in both internal and external environments within the agreed 15-year term. For example, Chase should remove all clauses that will limit the option for future negotiations (Esty, 2013a, pp. 7-8). To protect the welfare of the bank, the underwriter may decide to include a clause which allows the bank or the underwriter to have the option to withdraw their commitment especially in case of future misunderstanding between the borrower and the lender. The presence of ‘market flex’ can cause serious problem on the part of the borrowers (Esty, 2013a, p. 7). To maintain a win-win situation between Disney and Chase, the underwriter may also include a clause for renegotiation in case of over-subscription or overpricing (Esty, 2013a, p. 7). Effects of Syndication Strategies on Chase’s Risks and Returns as the Lead Arranger Chase presented two syndication strategies to Disney. The first option is that Chase will play the role of a ‘sole mandated lead arranger’ with the option to invite four other banks as its sub-underwriters (Esty, 2013a, p. 6). Basically, the first option will lessen the underwriting risks on the part of Chase plus benefit from the support of sub-underwriters. Using option 1, Chase’s exposure in general syndication can be reduced to HK$660 million as compared to its maximum exposure of HK$3,300 million. (See Appendix III – Risks and Rewards for Chase on page 11) The second option is that Chase plus two (2) other banks will share ‘joint mandated and joint underwriting commitment but with no sub-underwriting’ (Esty, 2013a, p. 7). The second option means that Chase will have to give up 2/3 of underwriting fee on top of the need to share the league table status with other banks. Using option 2, Chase’s exposure in general syndication and its maximum exposure is HK$1,100 million. (See Appendix III – Risks and Rewards for Chase on page 11) Option 3, not presented to Disney, is a combination of both option 1 and 2 which means that Chase will be the sole mandate with no other sub-underwriters (Esty, 2013a, p. 7). The third option will expose Chase to higher credit and syndication risks but increase the chances of improving Chase’s league table status and future compensation. Using option 3, Chase’s exposure in general syndication and its maximum exposure is HK$3,300 million. This figure is so much higher as compared to Chase’s exposure when using option 1. (See Appendix III – Risks and Rewards for Chase on page 11) Recommended Syndication Strategy Considering the case of HK Disney, the best syndication strategy is one that can reduce the bank’s credit risks (Esty, 2013b, p. 1). Often times, this includes having sub-underwriters who can share the commitments with Chase. As compared to a single-stage general syndication, it is best to choose the two-stage syndication plus sub-underwriting before the actual general syndication so as to reduce Chase’s exposure to credit risks. Likewise, the two-stage syndication plus sub-underwriting before the actual general syndication will enable Chase to win the support of other banks in case of being exposed to uncontrollable risks (Esty, 2013a, p. 21). Conclusion The goal of syndication strategy is to reduce the exposure of lead arranger(s) to credit risks. In the process of making the offer more attractive to other banks, it is possible for the lead arranger can increase the committed amount from all banks as compared to what the lead arranger banks can commit. References Esty, B. (2013a). Chases strategy for syndicating the Hong Kong Disneland loan (A). Harvard Business School. 9-201-702. Esty, B. (2013b). Chases strategy for syndicating the Hong Kong Disneland loan (B). Harvard Business School. 9-201-086. Appendix I – Possible Syndication Strategies for Chase (Millions HK$) Per-Bank Sub Amount Per-Bank Underwriter Underwriter Closing Pool Sub- Amount Total Cumulative Chase Max Lenders Fee Fee Fee Income Underwritten Held Allocation Share Exposure Chase Sole Coordinating Arranger, with 4 sub underwriters Coordinating Arranger (Chase) 1 $9,900 $1,650 $2,100 $200 $13,850 $300 $300 9.1% $3,300 Sub U/Ws 4 $1,650 $2,100 $200 $3,950 $300 $1,200 45.5% Arrangers 4 $1,750 $1,750 $250 $1,000 75.8% Co Arrangers 4 $900 $900 $150 $600 94.0% Lead Managers 2 $500 $500 $100 $200 100.0% 15 $3,300 Note: (1) Closing fees of Chase, lead arrangers (Sub U/W), and Arrangers @ 0.70%; closing fees of co-arrangers @ 0.60%, and closing fees of lead managers @ 0.50%; (2) Underwriting fees of Chase @ 0.30% whereas underwriting fees of lead arrangers (Sub U/W) @ 0.25%; (3) Chase with 2 other Coordinating Arrangers, no sub underwriters Coordinating Arranger (Chase) 3 $300 $900 27.3% $1,100 Sub U/Ws 0 N/A Arrangers 4 $250 $1,000 57.6% Co Arrangers 6 $150 $900 84.9% Lead Managers 5 $100 $500 100.0% 18 Chase Sole Coordinating Arranger, no sub underwriters Coordinating Arranger (Chase) 1 $300 $300 9.1% $3,300 Sub U/Ws 0 N/A Arrangers 4 $250 $1,000 39.4% Co Arrangers 8 $150 $1,200 75.8% Lead Managers 8 $100 $800 100.0% 21 Appendix II – Allocation of Fees in Three Syndication Strategies (Millions HK$) Per Bank U/W Sub U/W Closing Fees Fees w/o Pool Fees w/ Pool (Per bank) Chase Sole Coordinating Arranger, with 4 sub underwriters Coordinating Arranger (Chase) 1 $9,900 $1,650 $2,100 $13,650 $13,850 Sub U/Ws 4 $1,650 $2,100 $3,750 $3,950 Arrangers 4 $1,750 $1,750 $1,750 Co Arrangers 4 $900 $900 $900 Lead Managers 2 $500 $500 $500 15 Chase with 2 other Coordinating Arrangers, no sub underwriters Coordinating Arranger (Chase) 3 $9,900 $3,300 $2,100 $15,300 $15,500 Sub U/Ws 0 n/a Arrangers 4 $1,750 $1,750 $1,950 Co Arrangers 6 $1,050 $1,050 $1,050 Lead Managers 5 $700 $700 $700 18 Chase Sole Coordinating Arranger, no sub underwriters Coordinating Arranger (Chase) 1 $9,900 $3,300 $2,100 $15,300 $15,500 Sub U/Ws 0 n/a Arrangers 4 $1,750 $1,750 $1,950 Co Arrangers 8 $1,050 $1,050 $1,050 Lead Managers 8 $700 $700 $700 21 Appendix III – Risks and Rewards for Chase Chase Exposure in General Syndication Chase Max. Exposure Chase Fees / Chase General Syndication Exposure Sole Coordinating Arranger, 4 Sub Underwriters HK$3,300 HK$660 0.021 Three Coordinating Arrangers, no Sub Underwriters HK$1,100 HK$1,100 0.008 Sole Coordinating Arranger, no Sub Underwriters HK$3,300 HK$3,300 0.007

How to Be Successful Business Manager Free Essays

How to be successful Business Manager Introduction Everyone desired to success. In the business field, becoming a successful manager is what the majority long for . No body changes into a well-rounded manager overnight. We will write a custom essay sample on How to Be Successful Business Manager or any similar topic only for you Order Now Learning is necessary for everyone during this process. â€Å"People learn to manage by managing under guidance of a good manager†Ã¢â‚¬â€-Michael Armstrong. Experiences can undoubtedly be an excellent tutor for success, but having a good guide can further allow one to make use of his or her experiences into the largest extent. Being a successful manager requires a huge amount of skills and knowledge. In this paper, not all elements will be mentioned, but the five essential elements have been chosen to be discussed: work smart , risk management, interpersonal talent and skills, Self-management and Leadership skills. Work Smart – Work Effectively and Efficiently To express how to work smartly, Susanne Madsen, a PRINCE2 and MSP practitioner and a qualified Corporate and Executive coach, tells us her tale of success. Work smarter, not harder, as explained by Susanne, means working less and accomplishing more by increasing the working quality. (2) To get things done wisely, she highlights the significance for correcting one’s internal persuasion and attitude towards his or her task that it is not a burden. One could , then, get the vigor for working again. According to the writer’s own experience, she shows that self-assessment and continuous self-adjustment are the paramount importance for success. She also suggests two key points: first, is deputation. A manager should depute the less vital jobs to the others and use those times to communicate more with the major person associated to the project for developing a better linkage with them. Second, is initiative. A manager should get a more well-round plan at the beginning instead of responding the incident or risk when it has been occurred. I am glad to read the inspirational article written by a top leader in the world. She gives a great arousal to me. Her sharing and skills are useful, not only at the workplace, but also at the senior academic level. I believe that many college students, just like me, are having the improper belief that the project is burdensome. Why can’t I alter my mindset to abandon the constraints and step up to success smartly? Just try it! Self-management Walter Vieira (2005) proves that people refuse to face realistic self-image and idealistic self-image is biased,(p. 33) and so to evade the results of their SWOT analysis which about their advantages, disadvantages, opportunities and threat environment. (p. 34) However, people do not understand their strength and weakness, will not be able to strengthen and improve , they cannot develop their abilities. In addition, they need to assess that whether they have the basis element include a positive goal, ambition and energy . They also need to know whether they have clearly aware of their thoughts adaptable ,witty and creativity. He said that people have two reason of requesting an identity, one is for higher living standards, and another is satisfying others’ expectation. He agreed with Cyrus Vance that people always evaluate their progress with friends. They were unhappy because their achievements are worse than the others. (p. 35) Therefore he reminded that people not to compare and assess their progress with others, because different people do different things ,will have different progress, as long as compliance with their own plans on the line. p. 35-36) But learning from observing others ,and the through others to observe their own, then the combined best quality of themselves and others. (p. 36) In my opinion, successful managers need to have a correct plan; in order to achieve their positive goals. I think Walter Vieira missed this important point. Therefore, they should know how to assess whether their plan is feasible under environment efforts. For example, their plan need to change when financial crisis. Leadership skills Leadership is the central factor to influence a general manager’s success. In the book Successful Management, Neville (1995) believes that leadership has five main dimensions: first, defining a vision is the preliminary stage. The best leaders are adroit at thinking the unique and picking up creativity . They are not faint-hearted of change. When the vision has been ascertained, leaders should be attain it (17-8). Second, he said that commitment to success is not only about eagerness, drive and the will to win, it is also about the interminability of preparation (18). Third, he believes that leader should communicate unabashedly and frankly. Because communicate can let the team learn more experiences from each other (18). Fourth, is challenging in status quo. Young managers should find more innovative solutions in the business market (19). Finally, is about the personal characteristics which are found in extraordinary leaders. He highlights that flexibility, enthusiasm, integrity, willingness to experiment, ability to inspire others, to build relationship, to inspire trust, to communicate and to delegate, those are most routinely emphasize in outstanding leaders(19). He concludes that intellect is missing from these five dimensions, it is not nonessential, just because the role of leadership is too wide and it is not always necessary to have high intellect (19). To a large extent, I agree with Neville that the five main dimensions of leadership. I believe that communication is the most important part of the leadership, it permeates every aspect of the business. All managers, especially those leading teams, they communicating with the workforce is a demanding and rewarding task. Interpersonal talent and skills A successful businessman must possess good communication skills. He should provide different channels for the staff to express opinions which helps understandings of company’s objectives. Effective communication with employees can ensure thorough understandings of leader’s decisions and expectations on their work. Maintaining a comfortable working environment can  encourage staff to be more willing to talk to their senior level (219). Reduced status difference (219) and enhanced staff morale help collection of employees’ feedbacks and  suggestions, which contributes to company improvements and also help ensure all staffs are working towards same goals. I believe a successful businessman should be a good leader and team player. It is very important that a person can share his knowledge and experience with his employees. He should ensure his messages and decisions can be effectively convey to them. To build up a good relationship with staff, he should respect and encourage them to participate in production and provide new ideas in work. Appreciation of work participation creates good staff morale and motivates them to work towards same organizational goals. A person will not be successful if he cannot work well with his subordinates and employees. Even if he has lots of marvelous ideas but no one is willing to work with him, he will only be a talented individual instead of a successful leader in the company. Risk management skills Living with, and challenged by risks, Nick Jackson believed that risk has tightly stick onto the business management agenda. Just as the key, people who learn for robust the risk management can succeed in their business. No matter what risk are the leaders facing, the major challenge is that how to identify, tackle and monitor the risk, and to plan for understandable, maintainable and applicable contingency plan. Not much people could reach this in industry today, he thought, they can recognize the risks whereas fail to observe the dormant influence or lost the sight of controlling systems. There are only less than 30% organizations can manage the risk well even not in effective way. (p. 38) Moreover, Nick stated that the ‘risk’ would be in some positive terms instead of negative. He regarded that people should not only keep improving in the way they manage the difficulties, but also focus on how to avoid from the negative impacts of self-satisfied when they are in advantages. (p. 42) I have been reminded by Nick Jackson that in every single moment, we cannot slack off from supervise the risk in any format. It required the all-round critical thinking. We cannot stop monitor the business from tackled one risk. It is hard and tough to handle this section in the business. And it is a great challenge to all businessman or administrator. g Conclusion â€Å"The productivity of work is not the responsibility of the worker but of the manager. † – Peter F. Drucker, Expert Management Consultant. All in all, the five abilities which stated on the above passages are inseparable. These five categories has shown that how can the manager strengthen the productivity and competitiveness in the industry. They can end up this topic with one sentence, â€Å"Manage yourself well then lead the team to work with communication and risk management plan smartly. † Within this project, we recognized that these skills are not only applicable in the business related industry, but also in different criteria of different industries. In 21st Century, people deserve better quality of services and the bosses deserve higher efficiency of works from their staff. As the result, this paper will be valuable to majority of world Reference Bain, Neville. , â€Å"Management or leadership? † Successful Management. 1st ed. London: Macmillan Press Ltd,14-9. Print C. N. Cheng. â€Å"Communication in Business. † Introduction to Business Studies. (Revised Edition). 1st ed. Hong Kong: Hong Kong Educational Publishing Co, 2009. 212-231. Print Kinicki, Angelo. , and Williams Brian K. â€Å"The nature of leadership. † Management: A Practical Introduction. 4th ed. Americas, New York: McGraw-Hill/Irwin, 2009. 436-38. Print. Nick, Jackson. â€Å"Risk is on the corporate agenda, but where does it fit? †Managing Business Risk. 3rd ed. Great Britain: Kogan Page Ltd,2006. Print Samson, Danny. , and Richard L. Daft. â€Å"Leadership in organisation. † Fundamentals of management. 2nd ed. South Melbourne, Victoria, Australia: Thomson Learning Australia, 2005. 427-31. Print. Susanne Madsen. â€Å"My Story:Work smarter not harder†Projectsmart. co. uk. Projectsmart ,10 September 2011. Web. 10 April 2012 Walter Vieira. Manager to CEO :corporate wisdom for survival and success. New Dehli/Thousand Oaks/London:Tejeshwar Singh for Response Book -stage Publications Inc,2005. print How to cite How to Be Successful Business Manager, Essay examples

Transgender Paper free essay sample

Some scholars find that sex reassignment surgery (SRS) will benefit people, while others argue that transgender people are dissatisfied of their SRS, some possible disappointments arise from the experience of immense discrimination from society (Dewey 2008). Recent studies have shown many effects of taking medical treatments regarding changing sex on biological parts of the body (Goh 1995, Kanhai 2000), but such scholars lack investigation on the long term psychological and emotional effect on the transgender person after taking these treatments. From a blog written by a transgender man, Walt Heyer, we learn that he felt excited changing into a woman at first but eventually regretted his decision and most of his life was spent in sorrow and disappointment. My paper will investigate the reasons of Walts regret of undergoing special treatments. What factors are related to the long term satisfaction of transsexual people undergoing SRS? What traits of Walt led to his regret? Method I started this research project by identifying my topic. Initially, I was interested in the effect of hormones on transgender patients but because of my lack of knowledge in biology, I found it difficult to find any conclusions that I could understand thoroughly related directly to the effect of hormones. Later on, I read about Walt Heyer and his experience on the internet and was inspired by his letter to the Massachusetts Judiciary Committee, where he explained his regret in undergoing SRS. Eventually I decided on researching the psychological effect of transgender treatments as well as the preoperative factors related to it and the satisfaction of the patients. I found the majority of my research articles using Academic Complete and Google Scholar. After reading approximately 20 related articles, I chose 4 to be my main focus. Of them, Anne Lawrences â€Å"Factors Associated With Satisfaction or Regret Following Male-to-Female Sex Reassignment Surgery† is the most relevant to my research topic. Body Paragraphs People who have the desire to change sex early on in their life have a greater chance of being satisfied with their transsexual medical treatments. In Anne Lawrences (2002) article â€Å"Factors Associated With Satisfaction or Regret Following Male-to-Female Sex Reassignment Surgery†, she says that many researchers agree that there are two types of MTF transsexuals. One is those people who transition at an early age, and the other is people who typically transition at an older age. She points out that there is a moderate positive correlation between absence of regret and greater childhood femininity. Also the younger the age of first wish to change sex, the more satisfied the person will be after he/she undergoes transsexual treatments, which means the less likely that he/she will regret. The more younger people are when they first desire to change sex, the more likely that they are natural transgenders, and they do not suffer from temporary psychological problems. In general, the transgender people who are satisfied with their treatments experience greater success in life and feel less emotionally depressed compared to before undergoing the treatments. Zoran Rakic et al (1996) have concluded that in most transsexuals, the quality of life is improved in aspects of their relationships with other people, attitude towards their own body, sexual activities, and occupational functioning. He found that these people were more satisfied with interpersonal relationships after their surgeries, experience depression less frequently, and even became more confident in life, e. g. more of them were engaged in full-time college studies. However, we can find that the sample of people Rakic et al chosen were all sex reassignment homosexual transsexuals, and they mentioned on page 3 that homosexuals â€Å"request change of sex more frequently, more forcefully, and at an earlier age†. This hints that indeed people who desire to change sex in their youth will be more satisfied with the result. There is a lack of psychological treatment before, during, and after the SRS. Kuiper and Cohen-Kettenis (1988) suggested that many transsexuals face social problems before and after their surgery, and there should be more attention paid to psychosocial guidance in addition to medical guidance in their article â€Å"Sex Reassignment Surgery: A Study of 141 Dutch Transsexuals†. Of the people who were dissatisfied with their surgery, many experienced loneliness, as they often did not have a partner, and experienced less acceptance from their direct environment. These people mentioned the lack of adequate psychosocial guidance before and after their surgery. Walt Heyer also proclaimed that some transgender people have psychological issues rather than biological needs, and he criticized relevant organizations for not focusing on the psychological treatments which are in need. If transgenders take sufficient psychological treatments, some might realize that they do not really need to undergo SRS. The causes of psychological problems regarding to the desire to change sex could be personal and social instability. Jan Eldh et al (1996) conducted a long term follow up research on 90 SRS patients. Their main finding is that personal and social instability, unsuitable body build, and age over 30 years at operation correlated with the satisfaction of patients regarding their SRS. In their investigation, 44 people were in fact singles, living alone and without or with poor social relations. The fact that nearly a half of these transgender people live isolated hints that depression and isolation could be a factor to their desire to undergo SRS, perhaps in seek of a new life. It also was explicitly reported that most of the unemployed transgender people suffered from psychological disorders such as depression, anorexia, and anxiety neurosis. Conclusion In this paper, I have investigated the main factors that influence the satisfaction of transsexuals undergoing SRS. From Walt Heyers letter, I learn that there are still issues about the treatments provided and the determining factors of transgender people who will benefit from the surgery. After researching on the topic based primarily on surveys conducted by scholars, I have concluded that some of the main factors that could determine the satisfaction level of a transgender person about their SRS are the age they first want to change sex, the greater childhood femininity or masculinity, and the forcefulness of their desire to change sex from their childhood.

The One Day of the Year Essay Example

The One Day of the Year Essay Assessment 3: Text Analysis- â€Å"The One Day of The Year† â€Å"The One Day of The Year† was set in Australia, in the 1960’s. It explores the universal theme of Father- Son conflict against the background of the beery haze and the heady, nostalgic sentimentality of Anzac Day. It is a play to make us question a standard institution, but it is the likeability and genuineness of the characters that give the play its memorable qualities: Alf, the nobody who becomes a somebody on this day of days; Mum, the anchor of the family; Hughie, their Son, with all the uncertainties and rebelliousness of youth; and Wacka, the Anzac, with his simple, healing wisdom. There are many topics to be discussed in the play and I have chosen to discuss and explore the generation gap between Alf and Hughie. Alf and Hughie’s relationship from living in different generations will be the issue discussed and explored in the text analysis. Their differences, mainly their opinions from the generation gap were completely different, and strongly argumentative. Not only was this affecting thier relationship, but was tearing their family apart, all because of their opinionated views about Anzca Day and who and how it should be celebrated. For example; In the play â€Å"The One Day of The Year† Alf says in Act Two, Scene 1 â€Å"Well, you know what day this is. This used to mean somethn’n’ once. I’m proud to be a bloody Australian. We will write a custom essay sample on The One Day of the Year specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on The One Day of the Year specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on The One Day of the Year specifically for you FOR ONLY $16.38 $13.9/page Hire Writer If it wasn’t for men like my old man this country’d never bin heard of. They put Australia on the map they did, the Anzacs did. An bloody died doin’ it. Well, even a snotty- nosed little kid oughta be proud of that. Whats happened to him? Why isn’t Hughie? † Not only did this speach start an argument between Alf and Hughie, but Mum aswell. Generation- and Generation Y are very different when it comes to Anzac Day. This is because Generation- grew up in the War, where as Generation Y only hear about it. I believe this is why you see a mojority of old people at Anzac Day services, rather than young people. And this is probably why Hughie got sick of Alf going on and on about Anzac Day. For example; Hughie says in Act Two, Scene 3 â€Å"Because we’re sick of all the muck that’s talked about this day the great national day of honour, day of memory day of salute to the fallen, day of grief It’s just one long grog- up. † I believe, for Alf and Hughie to have had a good Father- Son relationship, Alf needed to let go of the past and accept the change of Australia and its peole, including his Son and keeping his opinions to him self. But I also believ that Hughie needed to ccept his Father’s passion and proudness for the Australian men that fought in the War. Anzac Day is our identity and a symbol of Australia. We shouldn’t forget that. I understand that Hughie thought Anzac Day was all crap, especially the drunkness, but he should have been able to let his Dad have one day of the year, where he could celebrate and remember the men that died at War to save our country. The rest of the year Alf should have been sober a mojority of the time and made an effort to get along with his Son, forgetting the Yankee crap, but spending time with Hughie.

Practice in Eliminating Gender-Biased Language

Practice in Eliminating Gender-Biased Language This exercise will give you practice in recognizing sexually biased language and avoiding it in your writing. Before attempting the exercise, you may find it helpful to review  sexist language,  biased language,  gender,  and generic pronouns. Instructions Consider how the following sentences reinforce sexual stereotypes by their reliance on gender-biased language. Then revise the sentences to eliminate the bias. To a woman who possesses the necessary qualifications, nursing offers a life of unusual interest and usefulness. She will have limitless opportunities to improve herself and to help others.Each laboratory assistant must perform the experiment at least once before he teaches it to the class.The priest asked, Are you ready to love and honor each other as man and wife for the rest of your lives?No matter how busy he is, a pilot should take the time to thank the stewardesses at the end of every flight.My grandparents days consist of waiting by the window for someone to come up the walkwhether friend, mailman or salesman.The female lawyer conceded that her client was no Mother Teresa.In some cases, if your insurance has been slow in paying and your doctor has his lab work done away from his office, you may receive a bill from a laboratory you have never heard of. If this happens, call your doctors billing secretary and ask her to tell you exactly what the bill is for.Though occasionally s he may be called on to help others in the office, a secretary should take orders only from the manager she supports. The beginning student should spend his time becoming familiar with primary rather than secondary texts, with classics rather than with books about classics.The shift from animal and muscle power to machine power was a major achievement for man. When you have completed the exercise, continue reading to compare your revised sentences with the sample answers. Sample Answers To those people who possess the necessary qualifications, nursing offers a life of unusual interest and usefulness. They will have limitless opportunities to improve themselves and to help others.Each laboratory assistant must perform the experiment at least once before teaching it to the class.The priest asked, Are you ready to love and honor each other as husband and wife for the rest of your lives?No matter how busy the pilots are, they should take the time  to thank the flight attendants at the end of every flight.My grandparents days consist of waiting by the window for someone to come up the walkwhether friend, mail  carrier or salesperson.The lawyer conceded that her client was no Mother Teresa.In some cases, if your insurance has been slow in paying and your doctors lab work is done away from the office, you may receive a bill from a laboratory you have never heard of. If this happens, call your doctors billing office and ask exactly what the bill is for.Though occasional ly they may be called on to help others in the office, secretaries [or  assistants] should take orders only from the managers they support. Beginning students should spend their time becoming familiar with primary rather than secondary texts, with classics rather than with books about classics.The shift from animal and muscle power to machine power was a major achievement for humanity.

Samgsung Electronics Essay Example | Topics and Well Written Essays - 750 words

Samgsung Electronics - Essay Example The high quality of products is implicit, but never sufficient. Innovations are the key to success in these markets, but they come at a high price and are very easily copied. It takes a mix of luck, great management and a visionary business approach to make it in today’s overcrowded marketplace. Samsung, one of the largest Korean companies, begins its second century. The new digital era has brought revolutionary opportunities and changes to global business. Samsung has come up with solutions to these changes by upgrading its business structure, management perspective, and corporate culture to meet the new global standards (Samsung.com). Since its founding in 1938, Samsung has grown from a domestic industrial leader into a global consumer electronics powerhouse. The company is presently recognized as one of the world’s leaders in digital technology, holding the number one market share for thirteen products of the range (among which semiconductors, TFT-LCDs, monitors and CDMA mobile phones). These considered, the company’s target is an increase on this number to thirty in the following year. On the main priorities of the company is the research and development function, especially on the semiconductor line that includes flash memory and non-memory, custom semiconductors, DRAM and SRAM. The department in charge with this vital function comprises 13,000 researchers, and the financial investment is large - US$ 1.7 billion. But there is no other way in the technological fields, and the management at Samsung knows it better than anyone, having an experience of many decades. From a financial perspective, the company offers its clients services that have been appreciated and awarded. The Samsung Card is a payment solution that was selected as the "Best Card Company in the New Millennium" by MasterCard. This type of facilities and incentives for clients come as a plus to the products, more than a marketing tool – a long-term business development

How Colinization affected the history of American Indians Research Paper

How Colinization affected the history of American Indians - Research Paper Example When the European colonizers came in, they grabbed land from the American Indians mercilessly thinking that they have more than enough land for themselves. There are too many instances of land grabbing by European Colonizers but we can cite two of the most blatant case of land grabbing. The first case is John Winthrop’s land grabbing whereby it also intersected with religion which also changed the American Indian’s way of life. John Winthrop was the leader of the Puritans that settled in Massachusetts Bay Colony whereby they settled and took the lands of the Indians. John Winthrop was very blatant in his quest to take lands from the Indians because he thought that it was the Will of God for them to have lands in the New World because they, the Puritans were the chosen people of God and that they were entitled to take Indian lands. Thus when the Puritans sail to the New World on their ship Arbelia, he thought that taking the lands of the Indian is like entering a covenan t with God whereby they â€Å"shall be a city upon a hill. The eies of all people are upon us (Winthrop 68). Winthrop believed that the Puritans had a duty to fulfill their covenant with God by serving as an example of an ideal Christian community to the world in erecting a community on Indian lands (Gleason). Another is the case of land grabbing is California Foragers case. The California Foragers may not have religious undertone in their quest to take lands from Indians but their method was brutal. This happened after the Gold Rush of 1849 whereby the American Indians were the first settlers in the gold mines. When the Europeans came into California in 1542, they took the lands of the American Indians by force and thousands were needlessly massacred (www.funsocialstudies.com). The extent of the massacre was so massive that much of the cultural identities of

Impact of Cultural Factors on International Marketing Essay

Impact of Cultural Factors on International Marketing - Essay Example Cultural Theories †¢ Hofstede’s Dimensions A Dutch researcher, Gert Hofstede, after conducting a wide research found that culture possess four important dimensions. They include: †¢ Collectivism vs. Individualism †¢ Masculinity vs. Femininity †¢ Power Distance †¢ Avoidance of Uncertainty Individual vs. Collectivism determines the belief of people in a sense that whether they consider reward and responsibility individual or at larger group level. In country like Japan, it is considered as neutral while U.K, U.S and Netherlands are more inclined towards individualism. West Africa and Indonesia are more concerned in collectivism and receiving responsibility and rewards at larger group level. Products and services which are considered as environmental friendly are considered as more feministic because female gender is more cautious and sensitive about these matters. Power distance refers to segregating individuals on the basis of status and ranks. It is most commonly observed in Arab and Latin American countries. Countries which are more uncertainty avoidance are tend to inclined towards risk averse and those which have lower uncertainty avoidance are considered as more risk tolerant countries. (Onkvisit, 2008)... influence while marketing a brand internationally include: Age Group or Gender Taste preference, and interest of consumers differ with age group and gender. The perspective and attitude of people matters a lot which varies from country to country. Preferences and interest of people living in Latin America will be entirely different from Asian Countries. In this regard, it is essential to localize a product to certain extent so that it can gain popularity in respective country. Population Higher population means bigger market. Therefore, it is essential to consider the tactics of catering mass number of people. The problem that arises with population is that large number of people can have diverse needs. So, it is vital to select a product that fits to the needs of every individual. Educational Background Underdeveloped countries generally possess low rate of literacy as compared to developed countries. Therefore, many products which require higher educational proficiency cannot be su ccessful in countries having lower rate of literacy. Social Class Large population refers to having multi-social classes. Social classes are also called as economic class which means dividing the target market on the basis of their income, education, background etc. Many products are developed for particular social classes for instance products of Apple Inc. cannot be purchased by every social class and are specially designed for elite class of people. Geographical Concentration Geographical concentration is referred to as developing products for specific market condition. Geographical concentration means that every country selects products on the basis of the concentration of demands present in that country for that product. The number of that product will be determined by the society in

Inward Cheque Clearing Process

Inward Cheque Clearing Process The paperless environment has evolved and booming now. Nowadays, financial institutions constantly enhance the choice of the products and services to win the customer. Furthermore, this is the era where banks strive to become excellent service provider by exceeding customers expectation. With electronic documents allow a company to save time, increasing efficiency and providing excellent customer service. Hence, imaging technologies gives the required platform that needed to achieve this competitive edge. Check clearing process in Malaysia has evolved from paper pushing to paperless. Day by day, customer deposit and issue out checks. Despite many payment methods available in Malaysia such as Internet banking, mobile banking, Interbank GIRO, Rentas (Real Time Fund Transfer System) and others, check instrument remains an important payment method used in Malaysia. According to the statistic from Bank Negara Malaysia (Malaysian Central Bank), it is evident that check payment is the most preferred payment method now and in times to come. Although there is sign of decline from year 2007 onwards which is due to an emergence of electronic banking, but cheque will remain high as the funds movement exceeded trillion. As such, BNM has implemented Cheque Truncation and Cheque Conversion (CTCS) process on 16th June 2008 where all espick participants duly implemented and in operation since then. Manual Processing Image-based cheque clearing process, replaces the physical cheque flow with electronic data and image flow throughout the clearing cycle. The process eliminates the movement of the physical cheque from various intermediary levels in the clearing process and hence, reduces the delays in the clearing process. Ideally, the movement of the physical cheque should stop at the bank/branch of first deposit (The collecting bank branch). This, in return, increases operational efficiency through expedient payment and receipt of funds, reduces the operational cost through the reduction or redeployment of redundant resources used for handling cash and cheques, and expedites the clearing process in the industry. Due to CTCS introduction, the physical cheques will be kept by the collecting bank after their images and MICR ( Magnetic Ink Character Recognition(MICR) code line data have been captured and the readability verified. To ensure the quality of images that have captured, cheques will be required to adhere to image friendly design standards and specifications. Electronic imaging places new requirement on the overall design of cheques so that they are readily legible when viewing their images, rather than the physical cheque itself. The design standard has to ensure that all essential information, including hand-written data and machine-printed date, will be captured by the imaging process. The captured images will be usable and legible, and that the file sizes of images will be small enough so that they can be stored and moved in a cost justified manner. Furthermore, check truncation has been implemented in many countries like US, Singapore, Sri Lanka and Hong Kong. Due to banking secrecy, the name of the bank that will be used in this report is Kaybank Berhad. This is an international bank with 11 branches in Malaysia which is mostly in urban and semi urban area. Hence, this bank has huge customer base including consumer and corporate business. There are 4 types of processes for cheque clearing Inward Cheque Clearing Kaybank cheques Outward Returned Cheque Clearing Kaybank cheques that need to be returned due technical error, stop payment or insufficient funds Outward Cheque Clearing Other banks cheques deposited at Kaybank Inward Returned Other banks returned check due to technical error, stop payment or insufficient funds The author will discuss about the Inward Clearing process in this report as it is an important process and high in volume. There is cut off time to complete the process within BNM clearing window (1.00pm) daily. And resources required to perform this task is high. Attached is the process of Cheque Clearing for the industry. Process Flow of Cheque Clearing Source : www.myclear.org.my To elaborate further on this process, if a customer deposited a Kaybank Cheque of RM 20,000.00 into his/her account at Citibank, the image and the data of the check will be transmitted to Myclear (Subsidiary of Bank Negara Malaysia) via a gateaway system (NWI). Base on the MICR data, the said account will be debited of RM 20,000.00 and the funds will be credited to customers account with Kaybank. In this case, the collecting bank will be Citibank and the paying bank will be Kaybank. The turnaround time for the availability of funds is 2 days. Process Map for Inward Clearing process at Kaybank Image Verify Approve Data transfer to Check verification System Download of Inward file from Myclear Upload of espick data to Kaybank system Reject the image Yes No Second level checking Yes No Reversal of customers account Upload Returned file to Myclear Performance Objectives Kaybanks key strategy is to grow their Consumer business and Corporate business. The consumer business division continuously invests in new products and service innovations to increase its presence in Malaysia and to expand its private banking segment. However, its Corporate business has a core group of customers to which Kaybank leverages global presence to provide excellent quality financial products and services. However, both businesses have continues to improve the customer experience. It has also improves operational efficiency by constant reengineering programs. The main objective of Cheque Clearing Unit is to support both businesses by delivering excellence service to the customers by managing their Current Accounts with error free and to manage operational cost effectively. By shifting to CTCS process, Kaybank has improved the performance objectives of operation in clearing process as follows; Dependability Banks are losing million of money due to fraud cheque. With CTCS process, banks reduced the losses tremendously as the liability to pay in the event of fraud check has been shifted to collecting bank. The collecting bank has to check under the Ultra Violet and the security features on the check and tag the item if it is fraud to preempt the paying bank. System is controlled by Myclear and quarterly testing been conducted to ensure no vulnerability of the system. Continuity of business plan has been established in the event there is a crisis due to network issues or others. Automation where cheques been automatically debited by the system instead of manual posting. Straight through processing been achieved where no manual invention is required. Reduced customers complaint on missing cheques when mailing out as it could be lost in transit. Now, with image base returned item, customer cant use back the same cheque for representment. Data file will be encrypted before sending files to respective branches or clearing house. High security features established and files sent or received would not be compromised. Better reconciliation and fraud prevention Speed Customers are happy as float days of cheque was reduced from 8 days to 2days. And house check payment is given an immediate credit. Under the manual environment staff needs to perform 500 physical cheques verification for 5 hours but with CTCS each staff can perform 750 checks in 4 hours. Customers complaints will be resolved within a day as under the manual environment it takes 3 days. Staff productivity increased and performing multi tasking. Cost Staff overtime has been reduced tremendously and having quality time with their family. Manual process requires 12 working hours for each staff compare to just 8 hours now. Calculation of saving are as follows: Cost saving on Overtime = 30 Staff x 4 hours = 120 hours a days x 23 days = 1760 x 22.50 per hour = RM 39,600.00 per month Hence, for month the bank has saved an approximately RM 39,600.00 in overtime due to CTCS process. Cost of purchasing the system is only one time and maintenance and licensing rental is lower compare to physical cheques management. Staff transport claims and meal allowances were reduced to none as theay are not required to work long hours anymore. No shipment of cheques to Clearing House is required now due to transmission of data. There are 30 staff been employed previously to manage inward clearing volume of 40, 000 daily but now only required 18 staff. The other 12 staffs were redeployed. Retention period of cheque is only a year under CTCS as compare to 7 years previously. Daily a total of 40,000 cheques processed daily and requires 10 boxes to place the cheques. The saving calculation is as follows; = 10 boxes x 23 working days = 230 boxes x 2.50 monthly storage per box = RM 575.00 x 12 (months) x 6 (Years) = RM 41,400.00 Hence, for month the bank has saved an approximately RM 41,400.00 due to CTCS process. Flexibility Maintain Audit Log where it monitors the user details and accessibility Prepares or generate MIS report for volume tracking and for departmental budget planning. It is also a core banking system online approach to upload or download data or batches. Interfaces with internal and external system like signature verification system, Cheque deposit Machines and clearing house. It has provided centralized cheques clearing processing and supporting branches from Penang and Johor Bahru where previously under difference clearing zone. Quality Customers are happy with the service as their cheques are now safe from fraudsters. Inward Clearing process is simple and the staff can perform multi function and deliver good quality of work as they are not required to work long hours. Each transaction under CTCS is controlled by Unique Identifier Code (UIC) which is a unique reference number printed on the back of the cheque by the collecting bank and it will make the retrieval for investigation ad presenting of unpaid items are easier. Better controls established due to simplified process and enhancement and will not lead to financial losses or customer issues. Cheque Verification System Kaybank has invested in a E-flow system for check verification. This system is supported by in house Technology team. Once Inward Clearing data downloaded from the Gateaway system, it will be downloaded to the E-flow system for verification. Each workstation will have a single Central Processing Unit (CPU) and 2 monitors. One to view the image and the other monitor is to display the signature. There are 7 types of cheques processed and each will have a different process and approach. Hence, images and MICR data downloaded to E-flow system and will get sorted and channel to the respective station. For control purpose, the main function for this system is display the image for verification purpose and reconciliation. Kaybank has also emphasized on second level verification for certain threshold to avoid any mistake done by the first level verifiers. However, there are some flaws in this system as follows; The system has limited products. As of now, the system was designed to cater 7 products and if there is an additional product in the market and Kaybank wanted to implement it, there will be an issue. It may mix up with other products. If a particular product it to be ceased, then the station will be remain there. For example, Credit Card cheque has been stopped by Kaybank due fraud vulnerability since Septemeber 2010. The station is there and it cant be removed as it would involve cost. Any changes or addition into this system involve cost and it is expensive. Tagging of checks as altered by the collecting bank is subject to readability of the person who verify the said cheque. Hence, the CTCS ruling astablised by myclear is unclear. As it is subjected to apparent alteration sight by the processor. In the event, the cheque has been washed and altered and the alteration on the check is not apparent, then the collecting bank is not liable for the losses. In turn, it will be shifted to the paying bank to pay the losses. This rule in unclear and it is not good for the industry. Inward Clearing Volumes from January 2010 till October 2010 Source : Internal MIS for Inward Clearing Transactions Emerging Technologies On the other hand, cheque fraud costs Malaysia millions of losses a year and presents severe challenges to the industry. Hence, a better system needs to be deployed for the effectiveness of the current process. Payee Match Positive Pay Application technology has already started in U.S as it was developed by Parascript, LLC, Niwot, Colorado, U.S. The main objective of this system is to combat cheque fraud. The system is designed to read a cheques payee line information and cross validate the data provided to the bank by the customer via Cheque Issue File. This system assures accuracy and significant reduction of check fraud. Furthermore, with if this system should be implemented, funds can be made available in T + 1 (One day Clearing). If the adoption of this technology is feasible, then they will be no impact to the process as it works the same and the only difference is the system. Referring to the projected volume, for product like Paylink, Manager Check, Payment Order and to some extent corporate customers the verification can be automated. Since companies update Kaybank with their list of the cheques issued out the beneficiary, this system can perform auto match and approved the transaction without manual intervention. The system could be expensive but in long them, there will be no fraud cheque . Genichi Taguchi (Nigel Slack, Operation Management), has highlighted to test the robustness of a design to ensure it withstands any change. However, in this case the changes only affect the system as all verifiers need to verify some number of cheques daily. The terminal is stationed at their respective workstation. Hence, there is no impact on the job design, layout and flow or operations. Although, the volume will decrease to some extent as with current capacity, staff may need to verify cheque lesser. On the other hand, with the implementation of new system, staff has to be trained and they could be error prone as this will be totally a new system. Recommendation With regards to the system enhancement, Myclear as a regulator should take the lead and supervise clearing process. Internally, Kaybank may able to deploy a good system but Positive Pay system is very new and extremely expensive where a single bank will hesitate to buy the system. However, with the involvement of Myclear and all member banks, all should share the cost to bring the system to Malaysia to develop together. With this, the cost will be cheaper and can be affordable and all the intermediaries will have a common platform to work with. Conclusion Although, the current system deployed by Kaybank is reliable, there will be no assurance when the fraudster will strike the banking industry with their sophisticated technologies. Hence, BNM, Myclear, ABN (Association of Banks) and member banks must pursue other alternative to prevent fraud attempt by the fraudsters sooner. The Police too have to amend laws to draft severe punishment to nab the fraudster.

My Educational Philosophy :: Philosophy of Education Teaching Essays

My Educational Philosophy Education is diverse. Due to the various natures of knowledge and students, it is difficult to place my educational philosophy in one category. Each student is unique; curriculums vary depending on many factors. I feel that many educational philosophies are beneficial to education. The nature of students reflects many things including heredity, home life, and society as a whole. Through my experiences working with Americorps/Energy Express, I learned children from lower income families tend to lose three months of education during the summer break. The students never regain these losses. While lower income children lose learning, children from higher income families gain a month of learning. This demonstrates the importance of home life in the nature and education of students. When teaching, one must always consider the aspects that may affect the students’ nature along with the nature of knowledge. Knowledge is both relative and absolute. Literature is an example of relative knowledge. Interpretation of books or poetry depend on the person reading the material, the place where the literature is read, and the time period in which the person is living. Science and mathematics are absolute. One plus one equals two regardless of the time, place, or person. Acquiring knowledge, whether absolute or relative, is the purpose of education. Public education is important to improving society and the future. Like Plato, I feel education gives people the ability to think critically instead of being blindly led by others. As a future teacher, I am idealistic in that I hope to encourage students to challenge themselves, I also hope to encourage students to continue learning throughout life, and prepare for college. To accomplish these goals, I will incorporate pragmatic methods like hands on activities through laboratory experiments and problem solving into my teaching. This also falls under experimentalism. The Socratic method of small group discussions, lecturing, and questioning will be used to help students acquire knowledge. Using many methods will help all students to understand the material presented. Discipline will play an important role in reaching my goals for the students. I plan to use pragmatic methods also in establishing rules.