An Investigation Of The Risks Faced Example For Free - Free Essay Example

Sample details Pages: 11 Words: 3276 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Research paper Tags: Investment Essay Risk Essay Did you like this example? Banks are type of Financial Institutions that facilitate the flow of funds and are the back bone of the economy. So banks act as financial intermediaries to interact the deficient units with surplus units and in this the banks bear certain risks. One of the risks is the credit risk or default risk. Don’t waste time! Our writers will create an original "An Investigation Of The Risks Faced Example For Free" essay for you Create order A bank is exposed to this risk when it lends money from the money of the depositors and the borrower is unable to repay the debt. This risk is one of the major risks faced by banks and it has increased significantly over the years due to the global financial crisis of 2007. The financial crisis has exposed banks to huge amount to risks leading the banks to become bankrupt and insolvent. Banks have tried to reduce the impact by concentrating in particular sectors that is lending to a few sector mostly. In Pakistan, initially banks concentrated in agriculture sector and later they have shifted their focus to the manufacturing sector due to massive industrialization and potential in the sector. So now banks are lending around 30% of the total advances to the textile sector which is one of the largest components of the manufacturing sector. Though, this lending to a particular sector hasnt borne the fruit for commercial banks. One of the major reasons is that the textile sector is facing awful times in the form of decline in exports in the US market as well as the European market. Now these markets are dominated by China. Pakistan currently faces an on going problem of energy shortage which has forced the textile sector to resort to other ways of meeting the energy gap. These alternative ways are costly and have thus led to expensive exports which are no longer lucrative in the international market. Hence, textile sector is unable to repay their debts and the banks bear the cost in the form of increased non performing loans. 1.2: Relevance of the topic and research title Pakistans Banking sector is one of the sound sectors which comprises of major players in the financial market. These players are Financial Institutions particularly Banks like Muslim Commercial Bank, Habib Bank and Bank Alfalah and some foreign banks like Barclays and Citi Bank. As more and more products are being introduced by the banks, in an attempt to diversify, more choices are available to the consumer to invest his money hence banks are now shifting their focus from traditional or conventional modes of banking into modern and sophisticated modes. Now with the changes in the banks portfolio, banks are extending more credit and investing more. In this era of change, banks with their lucrative offers and products are paving an entirely new path for various modes of investment. These new ways are getting customers to invest and borrow more which has resulted in a higher default thus making banks more vulnerable. In order to mitigate the impact of this default rate surge banks are concentrating there loan portfolio in credit worthy sectors but this risk management practice has failed the banks because there has been massive defaults in the sector they concentrated in which was textile sector. Hence, as the title of the research topic is Analysis of Credit Risk in the Textile Sector probes into the causes and determinants of this higher default rate or surge in non performing loans due to the textile sector. The subsequent research will outline the impact of various Bank specific, institutional and macroeconomic factors in assessing credit risk of various banks. It will investigate the impact that one sector can have on the overall banks credit risk and the extent of that risk. 1.3: Background Information and Evolution Pakistan is one of those countries where there has been rapid growth over the years especially in the field of Banking. Banking is one of the most responsive businesses all over the world. Banks play very significant function in the economy of a country and Pakistan is no exception. Banks are guardian to the assets of the general masses. 1.3.1: Pakistans Banking Industry The Pakistans Banking Sector has experienced massive growth in terms of size and scale of business. The Banking sector, which was entirely dominated by Nationalized Commercial Banks (NCBs) until a few years ago, has been opened up to the private sector. The sector has witnessed an exceptional development in 2005-09. There are 45 scheduled banks  [1]  (including 7 foreign banks) operating in Pakistan which has increased the competition, particularly after the testing capital adequacy benchmarks set by the State Bank of Pakistan to nurture a steady banking system. Draw foreign ventures and captivating lucrative clients are the only alternative left to banks for sustained continuation. Furthermore, banks are inclined to build their organizations to give the impression of being unique from their market competitors by pursuing divergent and distinctive strategies and by introducing products and services through product differentiation. This is leading to massive competition which is touching new altitudes in the banking business and it will obtain more vigor. A number of aspects are escalating the frontiers of competition in both funding and asset use. Moreover, chances for foreign banks, particularly in consumer and retail banking, are superior than ever before and there is noteworthy transfer of spotlight from industrial lending to consumer products which has facilitated the banks to get advantage from massive spreads. Though, the manufacturing sector is still enjoying the highest share in credit facilities extended by the banking industry. Hence due to these new opportunities, the banking industrys assets have also increased over the years. Advances have increased by around 15%  [2]  from 2001-2009. Thats means there has been a decade wide growth of 15% in the advances extended by the banking sector. Whereas, deposits have also experienced a considerable growth of around 14% which signifies the fact that the banks are actively accepting deposit s and lending out in accordance the amount generated by deposits and hence earning a profit. Profits have increased till 2005 and peaked in 2006 but in 2007 due to the global financial crisis have experienced a downfall and the trickle down effects of this recession are being faced by the banking sector currently as well. On the other hand, market pressures compels the banks to make loans in unknown areas loosening the rope of risk management but the current key ratios point towards an outstanding uphill trend in the banking industry with gigantic banking spreads, particularly during the last half decade. Provision for loan losses is ascending over the years. Troubled loans or non performing advances are regarded as a cancer for banking industry. It can be said that quality loans is the ultimate objective for bankers today. Moving on, The Merger game is taking the front seat in the world. A craze for giant banks is developing to benefit effectively from the future market op enings and to tame ever increasing competition. But there are inherent constraints in this mania. The economies of scale vanish automatically after a certain level of expansion in the banking industry.  [3] 1.3.2: Credit Risk faced by Banking Sector While the possession and administration of the banks by private sector is one pillar of the reforms, the other pillar is well-built regulatory environment. Private Commercial Banks are prone to taking unnecessary risks in their lending as their own capital is much lesser in relation to the depositors money. They can realize the huge upside potential from high-risk assets while the defaults and damages in event of downside scenario are borne disproportionately by the depositors. The banking sector has now diversified its product base and carried out a lot of innovation. They have expanded their out reach to agriculture, SMEs, mortgage financing and consumer financing. Not only that this diversified lending portfolio mitigates risks but it also raises the purchasing power of a large segment of population that was completely shut out from credit markets. Pakistans auto industry has expanded its car production by a multiple of five times in the last four years as auto financing enab led a vast number of middle class income earners to purchase the cars on monthly installments. The affordability of these new products by the middle class became possible as the prudent fiscal and monetary policies pursued by the Government left a lot of liquidity in the banking system. The Government, by reducing its fiscal deficit and public sector enterprises by making cash profits, freed up loan-able funds for the use of the private sector. The Central Bank by pursuing an accommodating monetary policy did not mop up excess liquidity and helped the businesses and consumers to access funds at historically record low levels. Due to these new products and the provision of credit facilities to middle class has led to an increase in the non performing loans. This is so because consumers with lower credit worthiness tend to default more thats why the banking industry has faced an overall surge in the defaults. To make matters worse the natural disasters (floods and earthquakes) h ave exposed the banking industry to a higher default rates. This can be shown by a surge in the non performing loans of the banking sector. The ratio of NPL/Advances net has increased from 1.6 in 2006 to 3.8 in 2010.  [4]  Which shows that despite facilitating the credit to organizations and consumers, there has also been an increase in the non performing loans? The rising quantum of NPLs is not a high-quality indication for the general financial steadiness, creditability and prosperity of the banking structure. The mounting ratio of NPLs deficiently influences the lending rate. It is also one of the most important reasons for the sluggish revitalization of ill units in the country. It is eventually causing slow down in industrial productivity and economic activity. This circumstances forces the managers of the banking industry to give minimal return to the depositors and charge high mark-up on loans. Low return on deposits dampens savings, which are already very little.  [ 5] So, it is the duty of the central bank as a regulator to be exceptionally vigilant and take timely action to thwart the bank managers and owners from assuming excessive risks. The Central Bank in Pakistan has strengthened its capacity by acquiring new skills, upgrading the quality of the on hand human resources base, adopting technology and re-engineering business practices. The banking regulation and supervision are risk-based and are fully compliant with the international standards and codes prescribed by Basel Committee. The risk management practices are being customized to conform to Basel II rules. The financial soundness indicators show a healthy and sound banking system with high level of financial consistency. 1.3.3: Textile Sector and Credit Risk   The portion of textile exports in entire exports of the country contracted to 55 percent in the current financial year as compared to 60 percent in the past years. As the total export quantity lingered to be stagnant in the first seven months of the current financial year, the shrinking share of textile goods in exports has been unfavorably affecting the export sector. During July-January 2009-10, total exports came to $10.870 billion. In the months under review, textile export proceeds totaled to $5.981 billion. Pakistans share of the US textile market is dropping. China tops the US market with a share of 36 per cent followed by Bangladesh 21 per cent, India 18 per cent, Morocco 19 per cent and Pakistan 13 per cent. South Korea has lost 20 per cent of the US market. In the European market, China tops again with a share of 29 per cent, Vietnam 28 per cent, India 19 per cent and Pakistan only 1.5 per cent while the Philippines had lost 11 per cent of the market.  [6]   Most importantly for firms and manufacturing sector the reason for this surge in non performing loans has been due to the decline in exports augmented with energy shortfall the country currently faces. Massive shortfall of electricity and gas has rendered major organizations and businesses to reside with expensive ways of production which has increased their costs tremendously. Hence, the gigantic cost borne by the manufacturers has hampered the repayment capability of the firms. Naturally this situation has raised the infected debts with the banks. The textile sector has a substantial contribution in the deterioration of banks overall loan portfolio. In July-March 2009, the infection ratio of the textile sector loans increased to 17.9 per cent from 14.6 per cent in the same period of last year, while the share of textile in total loans to private sector was 19.3 per cent, but it constituted about one-third or 30 per cent of the total non-performing loans (NPLs) of the private sector.  [7] 1.4: Managerial and Academic Concerns Banks main concern is to earn a decent spread or profits. This profitability of the banks is heavily dependent on the degree of concentration in their loan portfolio that is to which sectors they lent heavily and to which they extend few loans. Concentration of loan portfolio is basically a risk management strategy which enables banks to earn a modest return and minimizes the chance of default. For banks it is very important, when talking about the Credit risk, because default risks is the biggest risk the financial institution is exposed to. Hence for a bank it is of extreme importance to be aware of the sectors which are credit worthy and the probability of repayment is high in which sectors, so that they can manage their loan portfolio accordingly and lend to sectors which are not or less prone to default. Furthermore, this study can be carried forward to analyze the differences between with and without diversification done by banks on their credit risk or non performing loan s to be specific. In addition, this study will be useful in investigating the most likely factors which lead to an increase in the default risk of banks. One of the major academic concerns is that the panel cross sectional analysis will act as aid in providing deep insight on banking practices to people inside the banks as well as outside. 1.5: Problem Discussion Credit risk management is one of the most important issues in banking due to the weight it carries in assuring banks survival. Credit risk arises from the potential that an obligor is either unwilling to perform on an obligation or its ability to perform such obligation is impaired resulting in economic loss to the bank  [8]  . In other words, it is the risk that customers will default on their debt obligations and the probability that the credit worthiness of the borrower will decline, which means that the chances of default increases. So, it is very important for banks to monitor the credit risk the portfolio is exposed to since a large default can lead to banks insolvency. To avoid this insolvency banks have to monitor their positions and make sure that the amount lent to anyone customer and/or customers within a single industry and/or a give country is limited. It is generally acknowledged that the amount or percentage of non-performing loans (NPLs) is usually linked wit h bank failures and financial disasters in both developing and developed countries. In reality, there is plentiful substantiation that the financial/banking crises in East Asia and Sub-Saharan African countries were preceded by high non-performing loans. The present worldwide financial crisis, which instigated in the US, was also credited to the speedy non-payment of sub-prime loans/mortgages. In examination of this truth it is for that reason comprehensible why a large amount of stress is placed on non-performing loans when investigating financial vulnerabilities.  [9] So to minimize risk banks either monitor their portfolios or diversify. Banks wish to diversify because the cost of monitoring is greater than the benefit so banks diversify across economic sectors or geographic regions. Diversification increases the average return of the bank, which generally reduces the banks chance of failure. Nevertheless, if banks loans have sufficiently low exposure to sector downturns, a specialized bank has a low probability of failure, so the benefit of diversification is slight. If banks loans have sufficiently high exposure to sector downturns, diversification can actually increase the banks chance of failure: a downturn in one sector is enough to make a diversified bank fail, and a diversified bank is exposed to more sectors than a specialized one. Thus, all else equal, diversifications benefits are greatest when the banks loans have moderate levels of credit risk  [10] Hence, the financial soundness of the Pakistani banks depends upon the sectors performance to which they concentrated in. In this case the textile sector of Pakistans economy is facing a downturn due to reduced demand for textile in the foreign market, thats why the sector is unable to pay back its debt and shifts the burden of risk on the banks. If the banks are financial sound they will absorb such shocks otherwise they will face insolvency. 1.6: Keywords and Definitions The credit policy: To maximize the short run benefits, managers seek to rapidly expand credit activities and may hence take inadequate credit exposures. Particularly, during periods of economic growth, the financial institutions engage in market share conquest campaigns discarding the necessary assessment of credit quality of borrowers. This will lead, through adverse selection reasoning, to an increase of problem loans. As loans growth rate exceeds a certain point, further loans growth adds increase bad loans. Capital adequacy ratio: a tool to control excessive risk taking by banks and to prevent them from being insolvent through recapitalization (Basel accord). Banks with level of capital adequacy ratio (CAR) less than the regulatory minimum are forced to adjust their balance sheet to comply with the regulatory requirement either by raising more capital (holding assets constant) or reducing risk weighted assets (holding capital constant) banks with high levels of CAR might be encouraged to embark in riskier activities leading to riskier credit portfolios Banks Performance: Banks with high profitability are less pressured to revenue creation and thus less constrained to engage in risky credit offerings. Diversification: reduces risk taking as it makes possible the compensation for losses in some product by gains in others. For well diversified banks, where non-interest revenues are important, NPLs should be lower than for less (poorly) diversified financial institutions Size: larger banks have more resources, and are more experimented to better deal with bad borrowers Foreign ownership: a negative effect of foreign ownership on nonperforming loans leading to improve domestic banks credit quality. State Ownership: state-owned banks have more incentives to fund riskier projects and to allocate more favorable credits to small and medium firms. NPLs tend to be higher for banks with state ownership than for other groups Bank-level efficiency: ratio of operating expenses to total assets Bank leverage: (measured by debt to equity ratio) 1.7: Study Objectives The goal of this paper is to examine the sensitivity of non-performing loans to macroeconomic and bank specific factors in Pakistan. In particular, it utilizes regression analysis covering 10 years (2001 to 2009) to scrutinize the association involving non-performing loans and numerous key macroeconomic and bank specific variables. The aim of this research is twofold. First, it seeks to explain differences in NPL levels amongst different commercial banks. Second, it addresses the possible impact of business and institutional environment on the rate of NPL at the bank level. Based on existing literature, we model nonperforming loans disparity between banks as a function of both bank specific and environmental factors. The former serves to capture differences between banks in terms of ownership structure, credit and provisions policies and level of regulatory capital. The latter category allows us to control differences in business and institutional environment between banks to as sess the link between their effectiveness and a well-functioning financial system. This research paper includes a literature view supporting the theoretical framework. Then a proper planned methodology is presented to test empirical evidences and lastly findings are reported and analyses of the findings are done along with the conclusion.

Diagnosis And Treatment Of Breast Cancer - 2197 Words

One out of every eight women in the US is diagnosed with breast cancer every year. When women get older, their chances of developing breast cancer increases. In fact, 80% of all breast cancer patients are women ages fifty and up. As the number of breast cancer patients increases year after year, identification methods and treatments are beginning to advance. Doctors and pathologists are using the highest levels of technology to treat abnormalities inside of the body. The tumor is discovered through either mammography or self-breast examinations. Through these methods, doctors are able to discover the tumor and decide on what treatment is right for each patient. When it comes to treating breast cancer, there are multiple treatment options; the type and severity of the cancer help the doctor decide the optimal treatment plan for each patient. Identification is the first and most critical step in treating breast cancer, detection methods include self-breast examinations and mammography. Self-breast examinations are highly recommended for anyone of any age who has breasts. For this method, every month women check the areas around their breast as well as under their arms for any abnormal lumps (Breast World 4). Those who go about doing these examinations have a greater chance of identifying their cancerous mass sooner because of how frequently they are checking (4). Mammography is another helpful way to identify any lumps or abnormalities. In this process, a large machine usesShow MoreRelatedThe Diagnosis And Treatment Of Breast Cancer1947 Words   |  8 Pages3D Mammography The diagnosis and treatment of breast cancer and other non-cancerous diseases are very important in improving the quality of life for many women. The early diagnosis of the non-cancerous disease can reduce the incidence of breast cancer through effective treatment of mastopathy (fibrocystic of the breasts tissue). In the area of study, a variety of imaging modalities is implemented to assist with the diagnosis. These imaging modalities includes multi-frequency electrical impedanceRead MoreBreast Cancer Research : Diagnosis With Treatment1844 Words   |  8 PagesBreast Cancer Research Including the Diagnosis with Treatment Ellie A. Rider New Castle Career Center Health Science Education Mrs. Talbott December 2, 2014 Author Note Ellie A. Rider, Health Science Education, New Castle Career Programs. Correspondence concerning this article should be addressed to Ellie Rider, Health Science Education, New Castle Career Programs, New Castle IN, 47362. Contact: erider2015@gmail Abstract This paper will explain to you an in depth description of an illnessRead MoreHuman Epidermal Growth Factor ( Her2 )1153 Words   |  5 Pagescontrol the growth and spread of certain cancers. Breast cancer is defined as HER2 positive (HER2+) when there is an extremely high level of HER2 receptors present within the cancerous tumour of the breast tissue (Macmillan, 2013). 1.2 Aims and objectives This report aims to give an overview on breast cancer focusing on the HER2+ sub-type of the disease; it includes an overview of aetiology, epidemiology, pathophysiology, clinical presentation, diagnosis and treatment. It will also include how the advancesRead MoreInformative Breast Cancer Speech Essay899 Words   |  4 PagesInformative Speech: Breast Cancer Attention Getter: What do Sheryl Crow, Judy Blume, Suzanne Somers, Wanda Sykes and my Mother have in common? They are all breast cancer survivors. Topic Disclosure: Today I am going to talk to you about breast cancer information and awareness Preview: During my speech I will discuss: * Symptoms and Diagnosis * Treatment and Side effects * Ways to lower risk and Statistics Audience Link: There is a large amount of men and women who are diagnosedRead MoreOrgan Specific Cancer Treatments. Certain Advanced Cancer1068 Words   |  5 Pagesspecific cancer treatments Certain advanced cancer hospitals manage cancer in an organ specific way, and accordingly oncologists are reserved for treating cancers affecting specific organs only. Accordingly, oncologists have successfully treated breast cancer, head and neck cancer, gynecological cancer, orthopedic cancer, lung cancer, neuro cancer, and liver cancer. Understanding each organ specific cancer and the treatment available for it Breast Cancer It is the commonest of cancers affectingRead MoreBreast Cancer Diagnosis: The Psychosocial and Educational Needs1172 Words   |  5 PagesWhat are the psychosocial and educational needs of a breast cancer patient? In the United States, breast cancer is the most common form of cancer that women are diagnosed with (Stephens, Osowski, Fidale, Spagnoli, 2008). Those diagnosed tend to go through stages of fear, disbelief, shock, and sadness. â€Å"Nurses can improve the quality of care for women with breast cancer and their families by providing additional support services and post-treatment information during the initial education and follow-upRead MoreBreast Cancer Develops From The Breast Tissue1216 Words   |  5 PagesBreast Cancer Breast cancer develops from the breast tissue. It occurs when abnormal cells in the breast divide uncontrollably and form tumours. The tumours are either a lump or a thickening of body tissue. According to cancer research UK, in 2012, there was 50,750 new cases of breast cancer in women and 353 new cases of breast cancer in men, in the UK. There was also 11,716 deaths from breast cancer. (http://www.cancerresearchuk.org/health-professional/cancer-statistics/statistics-by-cancer-tRead More Women Coping with Breast Cancer Essay1688 Words   |  7 PagesCoping with Breast Cancer Coping has been closely connected to stress; it involves a process by which a person attempts to restore balance in response to a stressful life event (Henderson, Gore, Davis, and Condon, 2003). The most common cancer among Canadian women in 2010 is breast cancer. An average of 445 Canadian women will be diagnosed with breast cancer and an average of 100 Canadian women will die of breast cancer every week (Canadian Cancer Society, 2010). Coping with breast cancer has beenRead MoreThe Ethical Phenomenon Of Breast Cancer Screening And Treatments867 Words   |  4 Pagesboth the BRCA1 and BRCA 2 gene mutations and choosing bilateral mastectomies for early-stage breast cancers (Weintraub, 2015). Oncologists saw a 50% increase for risk-reduction mastectomy surgery related to the â€Å"Jolie Effect†. The impact of an actress, known for her beauty, to willing risk her body image to increase her lifespan survival has philanthropically advanced the issues surrounding breast cancer. Racial Cultural Williams, Templin, and Hines (2013) identified that some populations groupsRead MoreBreast Cancer Essay830 Words   |  4 Pagesearly breast cancer with 170 women providing complete interview data up to either five years after diagnosis or recurrence. The aim of this study was to examine the prevalence and risk factors for depression and anxiety in women with early breast cancer in the five years after diagnosis. The study used structured interviews and standardised diagnostic criteria to assess the point prevalence and period prevalence of clinically important depression and anxiety in women with early breast cancer in the

Foreign Direct Investment

Question: Evaluate the Cost and Benefit of Foreign Direct Investment and also Write Political,Economic and Legal System of this Assignment. Answer: Introduction Globalization and foreign direct investment is very critical terms which are in escapable as tools upon which US economy depends upon. In this report a complete study has been prepared over the cost and benefit analysis of foreign direct investment in USA economy. This report has been prepared to divulge how foreign direct investment has been providing benefits for the growth of USA economy. Foreign direct investment is a controversial issue in international economy around the globe. It is evaluated that how foreign direct investment has been playing a pivotal role in economy of USA in collection of foreign exchange. In the starting of this report changes in globalization has been portrayed in context with foreign direct investment in USA economy. Apart from that, Political, legal and economical factors of USA economy have been taken into consideration for evaluating the cost and benefits of foreign direct investment in determined approach. In the end of this report nexus has been es tablished between political, economical and legal factor of foreign direct investment in USA economy (Jayet Marchal, 2016). Political System Foreign direct investment is amount of investment made by foreign investors from the outside of selected country. It is the system which establishes relation between how formal and informal institutions by which government generate policies and rules to demand and assistance of general public. Total democracy has been followed by USA in its political system. Economy of USA is called developed economy and in order to increase its GDP rate Government of USA has opened its economy for the foreign investors (Hanemann, Gao, 2014). However, allowing FDI in USA economy will results into availability of funds for USA countries but it will eventually results into increment of control of outsiders in economy of USA It is further observed that Political stability of USA is also very effective which provides free flow of Foreign investment in USA country. There is several trade agreements, participation in international treaties and other regional blocks have been prepared by USA for encouragin g foreign direct investment. These impacts have divulged USA has made its economy a single global order mostly denominated by democracies and free market for foreign direct investment. Political stability in USA could be reflected with the help of given graph (Wei, Zheng, Liu, Lu, 2014). This graph depicts that USA has been maintaining stable political system. However, co- integration analysis between foreign direct investment and political overview of USA depicts that there exist a positive correlation between two factors. Government of USA has opened up its economy 100% for FDI purpose and allowing foreign investors to make investment in USA economy (Pan, Teng, Supapol, Lu, Huang, Wang, 2014). Therefore, USA has maintained its political stability throughout the time in order to attract foreign investment or more capital. Political system has been playing effective role in attracting FDI in USA. If country faces problem in their political system then it would result into emergence of situation when country would have no investment from foreign investors. Therefore it is evaluated that USA being developed economy has provided that country has been raising prepared their political system open and allowed foreign investors to make investment in determined approach (La mster, (2017). Legal System Legal system is consisted with all the policies, rules and regulation of the country. Foreign direct investment in USA is result of globalization. Economy of USA has reflected that legal system accompanied with laws, regulation and other rules enforceable on globalization has provided that company has allowed foreign investors to invest their money in USA capital market without any restriction. However, there are several sectors in which government of USA has imposed sectorals cap in determined approach. It is further observed that USA economy has widely changed its legal system and reduced its taxation, tariff on several factors. Foreign investors who are investing money in USA economy are aiding with leaving government support and least regulated policies of governments. Investment in intellectual property by foreign investors is encouraged by government parties in USA by abolishing of licensing in several fields, allowing foreign investment in small industries and other niche mark et, new trade policies and dismantling price control. Another major concern which has been seen in USA economy is related with corruption in legal system (Kim, Zychowicz, 2015). In order to attract more FDI and making countries risk free for the foreign investors USA government has prepared agenda to eradicate corruption from their legal system. Legal system of USA has encouraged several investors to make investment in selected sectors. However, there are other parts of economy where FDI by the USA government is not allowed such as hospitals, education and ammunition industry. Government of USA has been making effective efforts to attract more foreign investment by making liberal policies and making changes in their existing policies such as adoption of international policies and entering into regional blocks with countries (Perri Peruffo, 2016). Economic System United state has mixed economy. It is the system which is accompanied with laws and regulation that determine how resources in USA are being distributed for producing goods and service. U.S. economy is made of individual people, business and other factors as per the certain level of requirement of economy. Economical system of USA in context with FDI polices and regulation is open and allows foreign investors to invest their money in USA economy (Li, et al. 2016). However, there is several cost and benefit analysis which have been seen such as allowing FDI from foreign investors results in loss of control in several assets and resources of USA, incoming of notable entrepreneur and establishment of several big multinational companies around the globe. However, it is further observed that GDP of USA is 16.77 trillion USD in which around 15% partition is contributed by FDI and generated gross national income of country results into around 16.99 trillion USD due to wide level of investment of entity from outside of country. The main loss which has been observed is that stocks and goods offered by multinational company provide high competition to domestic business man those results into loss of their business functions (Boly, Coniglio, Prota, Seric, 2015). However, after making cost benefit analysis it would be concluded that FDI in USA results into several benefits such as it increase employment, arrangement of capital and other benefits with les s loss rendering activities. The main benefits of FDI could be reflected that People in USA are provided products and services in their own country as per their demand and need in determined approach (Gopinath, Helpman, Rogoff, (2014). Conclusion In this report it is observed that FDI is very essential for the development of particular economy. It is evaluated that FDI is influenced by mostly three factors of economy namely political, legal and economical factors. In order to identity the true benefits of FDI in country it is required to understand how these systems are influencing FDI. It is easy to say that country getting high FDI would results into development of its economy in short span of time. It could be reflected with the developed countries FDI policies and regulations. However, there are several benefits and losses which are associated with FDI in particular economy so proper due diligence need to be taken care while forming FDI policies by country. In the end it would be concluded that each and every organization should encourage FDI policies for the effectiveness of their international relation with other countries. References: Boly, A., Coniglio, N. D., Prota, F., Seric, A. (2015). Which domestic firms benefit from FDI? Evidence from selected African countries.Development Policy Review,33(5), 615-636. Gopinath, G., Helpman, E., Rogoff, K. (Eds.). (2014).Handbook of international economics(Vol. 4). Elsevier. Hanemann, T., Gao, C. (2014). Chinese FDI in the US: 2013 Recap and 2014 Outlook.Cross Border Investment. https://www. uschina. org/sites/default/files/RHG_XBI_ChineseInvestmentInUS_2013_ Recap_6Jan2014. pdf. New York: Rhodium Group, LLC. January,6. Jayet, H., Marchal, L. (2016). Migration and FDI: Reconciling the standard trade theory with empirical evidence.Economic Modelling,59, 46-66. Kim, W. S., Lyn, E. O., Zychowicz, E. J. (2015). Is the source of FDI important to emerging market economies? Evidence from Japanese and US FDI. Lamster, I. B. (2017). Implications of the 2016 FDI Policy Statements.International Dental Journal,67(1), 3-3. Li, L., Wang, H., Jin, H., Cao, Z., Feng, N., Zhao, Y., ... Yan, F. (2016). Interferon-inducible GTPase: a novel viral response protein involved in rabies virus infection.Archives of virology,161(5), 1285-1293. Pan, Y., Teng, L., Supapol, A. B., Lu, X., Huang, D., Wang, Z. (2014). Firms FDI ownership: The influence of government ownership and legislative connections.Journal of International Business Studies,45(8), 1029-1043. Perri, A., Peruffo, E. (2016). Knowledge spillovers from FDI: a critical review from the international business perspective.International Journal of Management Reviews,18(1), 3-27. Wei, Y., Zheng, N., Liu, X., Lu, J. (2014). Expanding to outward foreign direct investment or not? A multi-dimensional analysis of entry mode transformation of Chinese private exporting firms.International Business Review,23(2), 356-370.

Tourism in Australia

Although tourism has been an economic factor in Australia for a very long time, nowadays it has expanded to the level that it is acknowledged as the main source of employment and economic activity. In the past decades, the country has witnessed a substantial growth in the number of international tourists. With this growth, the need for sustainable development in tourism industry has been a concern.Advertising We will write a custom report sample on Tourism in Australia specifically for you for only $16.05 $11/page Learn More Sustainable development is defined as a growth that satisfies peoples’ wants without compromising on the future generation’s wants (Rogers Jalal 2008, p. 42). Based on this definition, sustainable development should be able to satisfy the economic and social needs of the people with the regenerative capacity of the natural environment. Through sustainable development initiatives, the tourism industry has been encourage d to reduce their negative impacts on the environment and the local cultures. This report focuses on Kakadu National Park. Through the report, social, economic, and environmental impacts that will result from an increased in the number of tourists visiting the area in the future are highlighted. The report identifies tourism stakeholders in the region, their attitudes towards the growth, and recommends ways for ensuring the sustainability in the industry. Kakadu National Park is situated in northern Australia. The national park was established in the early 1960s. For the last few decades, tourism has created a significant disadvantage for the Aboriginal people in the area. From the time it was created, Kakadu has been a centre of attention between environmentalists, tourism stakeholders, and the miners situated in the region. In the last decade, the number of domestic and international tourists has significantly increased. As the number of tourists increases, the need for adoption o f sustainable tourism policies in the region increases. With the increase in the number of tourists, more economic activities and employment opportunities will be created in the region. More Australians will be employed to work in the booming tourism industry. Notably, the indigenous Aboriginal people will benefit financially from the influx of tourists in the area. As such, they will be employed by the tourism industry to work as guides and informants. Equally, some entrepreneurs among this minority community will get an opportunity to open their own tourism enterprises. The community’s produce such as paintings, carvings, and other artefacts will be sold in large quantities increasing their revenues. Not only will the local community benefits from the increase in the number of tourists, but the government also will benefit because international tourists destined for the region will enhance foreign exchange.Advertising Looking for report on communications media? Let's see if we can help you! Get your first paper with 15% OFF Learn More In the last three decades, cultural changes have been witnessed in the region because of the establishment of a national park. Throughout this period, the deaths of traditional owners of the region and the rise on new owners with at little educational backgrounds have been witnessed. Notably, these individuals remember little of their historical background. Therefore, in the future when the number of tourists increases the Aboriginal culture will be at risk of being extinct (Nile 2008, p. 45). With the increased number of tourists, social amenities, new technologies, schools, and hospitals will be created. This will aid in the degradation of Aboriginal culture. Currently, most Aboriginal individuals employed in the tourism industry live around the parks, travel using vehicles, shop, and ride in the same boats as their white counterparts. This is a clear indication that in the near future, when the number o f tourists will have increased, these individuals will adopt their white counterpart’s culture. According to the Aboriginal history, it is alleged that the ancestors of the modern Aborigines used to lit fires in the region during the cooler months as a way of appreciating the ownership of their land (Keen 2010, p. 174). Because of the collapse of Aboriginal culture, the habit has now become extinct. Backed by the western science, park managers have been simulating these fire regimes with the use of helicopters dropping small fires as they fly across the park during the cooler months. More often, some Aboriginal people have tried to mimic or rebel these simulations during the hot seasons resulting in huge fires that burn for several weeks. With the increase in the number of tourists in the future, more simulations will be carried out. In return, more people that are indigenous will set up more fires as a revolt to the simulations. These fires will cause huge environmental loss es as they have done in the past. Vegetation cover will be destroyed as well as the animals that depend on them. By building social amenities in the region, land animals and migratory paths will be destroyed endangering their future survival. The main stakeholders in the region are the Aboriginal community, tourism investors, and the government. Tourism investors are excited about the projected growth. The growth will see an increased number of tourists visiting the region, increased in number of investments, increased business opportunities, and increased returns. With the projected growth, the Aboriginal landowners and authorities are worried about their traditional clan estates and their cultures. Some of them have foreseen the effects and the conflicts that will result from the expected growth of tourism in the region.Advertising We will write a custom report sample on Tourism in Australia specifically for you for only $16.05 $11/page Learn More Cur rently, the Aboriginal share of the tourism economy is very small. This implies that ownership issues will increase in the near future. On the other hand, the government has admitted that in the future the Aboriginal share in the tourism industry in the region must be recognized. This implies that in the upcoming years the government will fight for the Aboriginal community to be part of the park’s plans. For sustainable tourism development in the region, the stakeholders must ensure that the needs of the indigenous communities, their culture, and their history are given the top priority in the growth of the sector (Newsome 2002, p. 241). If the Aborigines are taught on the need to preserve their culture and be made to feel that they are part of the industry, more conflicts and cultural losses will be avoided in the future. Therefore, the stakeholders must be ready to enhance cultural reinforcement and environmental preservation policies in the region. Equally, the stakeholder s should increase the Aboriginal community’s shares in the industry. On the other hand, the government should enforce a law that will mandate the tourism industry in the region to adopt renewable sources of energy in the park. Through this, pollution will be curbed. Tourists visiting the region should be given brochures encouraging them to conserve the environment in and outside the park. When the indigenous Aboriginal community will be able to manage the development process, preserve their culture, preserve their environment and economy, sustainable tourism development will be achieved in the region for the benefit of all the stakeholders and the future generation. References Keen, I, 2010, Indigenous participation in Australian economies: historical and anthropological perspectives, ANU E Press, Acton, A.C.T. Newsome, D, 2002, Natural area tourism ecology, impacts, and management, Channel View Publications, Clevedon.Advertising Looking for report on communications media? Let's see if we can help you! Get your first paper with 15% OFF Learn More Nile, R, 2008, Australian Aborigines, Wayland, London. Rogers, P, P, Jalal, K, F, 2008, An introduction to sustainable development: Earthscan, London. This report on Tourism in Australia was written and submitted by user Lucille Kinney to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Sex, Drugs, and Rock Roll Essays

Sex, Drugs, and Rock Roll Essays Sex, Drugs, and Rock Roll Essay Sex, Drugs, and Rock Roll Essay â€Å"Sex, Drugs, and Rock ‘n’ Roll† The â€Å"Swinging Sixties† was a decade of new developments changing ideals that ranged from women’s movements, to â€Å"the New Left,† and to the musical scene of Rock ‘n’ Roll. These important progressions began the counterculture and social revolution among the youth in the United States. The counterculture ideals and visions were brought about by the extraordinary explosion of creative thought through music and other forms of art. The music scene, that overwhelmed the country, allowed for the culture’s expression of the social upheavals caused by the events overwhelming the country. The popular Rock ‘n’ Roll music, along with the bands themselves, during the â€Å"Swinging Sixties† had a great deal of influence that affected the counterculture, the psychedelic scene, and the endless concerts/festivals from the beginning of the decade up until the early seventies. The origin of Rock ‘n’ Roll, which dominated the music scene in the sixties, dates back to the late fifties and early sixties with the underlying roots of folk, rhythm blues, gospel, country, and jazz. Rock ‘n’ Roll, along with all types of music during the decade, influenced lifestyles, fashion, attitudes, and language. Furthermore, Rock ‘n’ Roll became a steady underbeat of political activity which offers some acclaim for the help of the civil rights movement along with other movements. Likewise, musical artists were influenced by the political events and the lifestyles of their audience in writing their lyrics. With this sway, Rock ‘n’ Roll became known as a â€Å"weapon of cultural revolution† spanning the country from coast to coast (227, Takin’ It to The Streets). In the early stages of this new revolution of Rock ‘n’ Roll and early years of the Sixties, the beginning bands were more laid back and relaxed. Taking the Sixties by storm in nineteen sixty-two was the sensation known as the Beatles. In nineteen sixty-four, the Beatles’ influence over the youth reached the United States when they appeared on The Ed Sullivan Show which followed their transitional move to New York City, New York. The Beatles became â€Å"the most popular music group in the United States† with 30 songs reaching the top 10 pop charts and the production of 12 albums (98, Columbia Guide). With their popularity, the Beatles generated a strong influence on American culture and the young people, which provoked controversy, influenced style, and the use of psychedelic drugs. Their songs reflected on the events of the Sixties and related to the youth generation that was being affected. The Beatles work has been recorded and savored in different styles of entertainment media from albums, to posters, to movies keeping their memory alive since their break up in nineteen sixty-nine. The 1st attempt at capturing the Beatles in media was the mock documentary A Hard Day’s Night, created in nineteen sixty-four. The film shows what a day in the Beatles life was like while they prepare for a television appearance. The film became the first â€Å"rockumentary† influencing the production of rock movies and videos for the future. This influence has continued to thrive into the 21st century with the production of Across the Universe. This movie allows for the current generation of youth to understand the happenings of the Sixties and the meaning behind the lyrics of Beatles’ songs. The movie goes into detail about the youth’s view on the war in Vietnam, the music scene, drugs, and the rebellious ways. On the opposite side of the country, the Beastie Boys was another rock band who focused their lyrics on the culture that surrounded them, including the scene of marijuana use. The band originated and got their inspiration from the surfing culture, in which they participated in, in Southern California. The Beastie Boys began their career in nineteen sixty-one but their success and popularity began to spark between the years of nineteen sixty-three to nineteen sixty-five (183, Columbia Guide). During this time period, the band produced nine albums that included some of their hit songs â€Å"Surfin’ USA†; â€Å"Little Deuce Coup†; â€Å"California Girls†; and â€Å"Good Vibrations† led the Beastie Boys to hit their peak of popularity in nineteen sixty-six. The Beastie Boys continued to be successful with their legacy continuing into the future decades. During the peak of the Beastie Boys and the Beatles, the drug that hit the population was primarily marijuana which in turn led to the psychedelic drugs introduced in the mid-sixties. During the mid-sixties, the laid back style of Rock ‘n’ Roll evolved into a phase of rock bands that created psychedelic sounds in the San Francisco Bay area, most popularly known as Haight Ashbury, where they hosted free concerts and didn’t record their music. In San Francisco, the music and bands were part of an underground culture where â€Å"drugs and rock swim up the same stream† (238, Takin’ It to the Streets). The culture of music became intertwined with psychedelic drugs among the audiences but also among many of the bands in the area. Many oncert goers began to attend concerts and bands events for the drugs that were normally found at these events. Not all bands were into the drugs, as Bob Weir of the Grateful Dead said â€Å"We’re not singing psychedelic drugs, we’re singing music. We’re musicians, not dope fiends† (239, Takin’ It to the Streets). The many bands that began their careers in the underground scene of San Francisco consisted of The Jefferson Airplanes, Janis Joplin in the Big Brother and the Holding Company, Jimi Hendrix, and the Grateful Dead. Many of these bands were only known in the Haight Ashbury scene until the Summer of Love in nineteen sixty-seven. In nineteen sixty-seven, the spring and summer months, known as the Summer of Love, became a time when thousands of youths made their way to San Francisco after receiving invitations by the Haight Ashbury Council for Summer of Love. This â€Å"pilgrimage† was heavily influenced by the media and music along with the idea of â€Å"free love,† drugs, and a new community of young people. On June 16-18, some 100,000 young people gathered at the Monterey Pop Festival organized by John Phillips of the Mamas and the Papas and the Beatles publicist Derek Taylor (300, The Portable Sixties Reader). The festival was advertised as â€Å"three days of music, love, and flowers† giving the feel of the original carefree spirit of rock ‘n’ roll. The â€Å"hippies† that fled to the scene were enticed with the appearances of their favorite bands and some newly formed bands, such as Jimi Hendrix and The Grateful Dead. The festival gave many of the bands from the Haight Ashbury â€Å"underground† national recognition with record deals and fame. Following his performance at the Monterey Pop Festival, Jimi Hendrix became famous for setting â€Å"his guitar on fire at the end of his set† and the smashing of his guitar (301, Portable Sixties Reader). What became known as the â€Å"Jimi Hendrix Experience,† led to his popularity, also the creation of his band, in the United States becoming known as the greatest guitarist in the history of rock music and one of the most important and influential musicians of his era across a range of genres. With his new popularity, the Jimi Hendrix Experience replaced the Jefferson Airplanes as the headliners at the Fillmore widening their popularity. In nineteen sixty-seven, Hendrix’s single, â€Å"Purple Haze† became one of the archetypical psychedelic drug songs of the sixties and is often cited as one of his greatest songs, and for many is his signature song. In nineteen sixty-eight, Hendrix received the honor of being named â€Å"Artist of the Year† by Rolling Stone for hi showmanship and gift for using distortion and feedback to create a unique guitar sound (208, Columbia Guide). As his popularity grew, Jimi Hendrix and his band, Gypsy Sun and Rainbows, performed a two-hour set at the famous Woodstock festival in nineteen sixty-nine. Hendrix gave a very memorable performance when he did a solo improvisation of the Star-Spangled Banner which is regarded as a special symbol of the decade. Jimi Hendrix’s career ended just over a year after his performance at Woodstock due to overdosing on drugs. The Grateful Dead, another legendary band that performed at Monterey Pop and Woodstock, was formed in nineteen sixty-five in the San Francisco Bay area. The band became known for their unique and eclectic style of music that they performed live because they lived for the audience that they attracted. At the time, music was not recorded, but many believed that â€Å"the Dead’s† sound was like thunder and would not be the same if duplicated into albums. With the fans that gathered at their concerts, the band became known as the representation of the San Francisco scene and of the counterculture movement. The Grateful Dead shared a three-story house because one of the ideals of the people in Haight Ashbury was the consciousness that people should work and live together (239, Columbia Guide). In nineteen sixty-nine, the Grateful Dead were invited to perform at Altamont but right as they were about to perform, the band decided against it. They felt that the energy of the outing was not that of a typical counterculture event because it had become more rowdy especially when Hell’s Angels arrived. The fame and influence that the Grateful Dead inflicted on the youth, â€Å"their music continues to draw young people more than thirty-five years after the Haight Ashbury summer in which the Dead emerged† (229, Takin’ It to the Streets). The fans of the Grateful Dead decided to call themselves â€Å"Deadheads† and followed the band from one concert to another which included the three-day festival of Woodstock. Following the trend of free concerts, the east coast music scene held a three day rock festival in Woodstock, New York. This extravagant rock concert where 500,000 young people arrived to listen to rock became known as â€Å"Woodstock Nation† (257, Columbia Guide). Woodstock was a peaceful event despite the large crowd and inadequate supplies. People came to see performances by Jimi Hendrix, Joan Baez, Jefferson Airplane, Arlo Guthrie, and the Grateful Dead. The bands and the festival exemplified the counterculture and the â€Å"Summer of Love† as the followers escaped from the events that were persuading their reasons to rebel. Woodstock was held during a time of war, racial conflicts, which attracted many of the participants. Among the attendees, many were satisfied and remember the festival for its social harmony, the quality of music, and the overwhelming mass of people. Woodstock has been remembered through movies and texts, but in large part with the attempts to hold festivals similar to the three-day rock festival. The first festival that was attempted to duplicate Woodstock was the concert at the Altamont. The Rolling Stones became known to some as the â€Å"greatest rock roll band in the world† but also became known as causing the end of the hippie counterculture. The band, originally from England, was formed in nineteen sixty-two and made their way to the United States in nineteen sixty-four when they went on their first U. S. tour. Many of their singles reached the top charts in both the U. S. and England which led to their trans-Atlantic hit in nineteen sixty-six. Along with their fans, the band members were strong followers in the drug scene. In nineteen sixty-seven, three out of the five band members were arrested for drug possession and use, leaving only two of the band members to perform. While the members were waiting to see what would happen to them, the band created â€Å"We Love You,† as a tribute thanking all of their fans for being so loyal. In nineteen sixty-nine, the Rolling Stones staged their own festival similar to Woodstock at the Altamont where all hell broke loose. Although the Rolling Stones made their United States debut in nineteen sixty-four during the â€Å"British Invasion,† they have become known for their concert at the Altamont Speedway in Livermore, California. The concert held on December 6, nineteen sixty-nine, just four months after Woodstock, was the Rolling Stones response to the numerous complaints that their ticket prices were too expensive, which is why they proceeded to give their followers a free concert to end their nineteen sixty-nine tour. Many people of the time â€Å"call us Woodstock West, but we are not† while others believe that â€Å"if concert isn’t the right word for the day, festival isn’t either† (310, The Portable Sixties Reader). The concert was advertised as a day full of performances from popular rock bands resembling Woodstock, but as the day progressed, a series of events arose causing havoc. As the gates opened at 7:00 am, 300,000 concert goers took their places to see bands such as Jimi Hendrix, the Grateful Dead, and most importantly the Rolling Stones. The enormous crowd seemed to enjoy themselves and the performances of the bands until Hell’s Angels appeared on and around the stage. In their hallucinating states of mind, due to their psychedelic drugs, they experienced a rush of horror and worry as the Angels took their places. The viewers wonder why the Angels are on the stage, just to be informed that the Rolling Stones hired them to be there security. Seeing as how the concert was flowing smoothly, the Angels grew hungry â€Å"for violence mocks our unfocused love of peace; their grim solidarity, our fearful hopes of community† (311, Portable Sixties Reader). Riots began to break out as the Angels used violence in an attempt to calm down the crowd. As tension grew, the Rolling Stones played their song â€Å"Sympathy for the Devil† as the crowd and Angels clashed (180, Takin’ It to the Streets). As the violence continued between the crowd and Angels, a man attempted to escape the riot but was shot by the security. This man’s death, 18 years-old Meredith Hunter, put an end to the concert as the crowd began to scream and panic. The tragic death at the Altamont signaled an end to the promise of the Summer of Love and the Woodstock Nation (180, Takin’ It to the Streets). With the Altamont disaster being viewed as the end of the hippie era and end of Woodstock nation, the world of Rock ‘n’ Roll took a dark turn into drug related deaths. Throughout the decade, the drug scene evolved from the semi-mind altering drug of marijuana to the psychedelic drugs, such as LSD and psilocybin mushrooms. Psychedelic drugs were used for â€Å"mind altering† experiences which were increased through the music, concerts, and poster designs. At the concerts, many bands began to experiment with what was known as â€Å"Kool Aid Acid Test,† where they would spike the punch allowing them to incorporate acid experiences into their music (290, Columbia Guide). The â€Å"psychedelic† posters that encircled the decade, â€Å"required concentration† appealed to the hippies because â€Å"the state of mind which occurs when high on [marijuana and/or psychedelic substances]† comes with an â€Å"intense visual involvement in details† (303, Portable Sixties Reader). The posters were found everywhere from phone lines to concert halls to being the posters representing bands. With the psychedelic scene surrounding the hippie’s counterculture, the rockers from rock bands experimented with the drugs as well. As he psychedelic drug scene expanded, rock bands and their members began to experiment with the drugs. Starting in the later sixties, nineteen sixty-eight and sixty-nine, drugs were taken and used more frequently than in the early years of the decade. In nineteen sixty-nine, the Altamont festivities proved that the use of drugs impaired judgment and was part of the darker side of what had become Rock ‘nâ₠¬â„¢ Roll. Giving the idea that the â€Å"Summer of Love† and peaceful ways of the hippies were at an end, numerous members of Rock ‘n’ Roll began to overdose on drugs. As the sixties came to an end, Rock ‘n’ Roll continued to succeed into the seventies, but â€Å"Janis Joplin, Jimi Hendrix, Jim Morrison, and Al Wilson suffered drug-related deaths† (294, Columbia Guide). The deaths of these rock idols went hand in hand with their surroundings and lives they decided to live. Since drugs became popular in the music business, rock idols became addicted to the feeling that they received. Bands and rockers, such as Jimi Hendrix, would perform while under the influence of psychedelic drugs. There is a belief that many members of these rock bands were the most creative while under the influence which caused them to consume drugs and alcohol numerous times throughout the days. Also, Rock ‘n’ Roll had taken up a dark tone after Altamont, which could have inflicted the idols with dark thoughts increasing their wants and needs for drugs. Overall, these idols became addicted to the â€Å"psychedelic† drugs and didn’t know their limit until they had overdosed. The music from the â€Å"Swinging Sixties† influenced the youth of the decade in their beliefs, their actions, and their emotions towards the events that were happening around them. The music brought about concerts and festivals, drugs, the counterculture, and a new way of life for the rebellious youth. The hippies and young people were brought together during a time of hardships where they were able to let reality disappear and slip into a different world. This different world was reached with the help of psychedelic drugs, Rock ‘n’ Roll and the communities created which brought allowed for a world of peace, freedom, and love. Rock ‘n’ Roll touched the heart of the decade and has continued to teach the current listeners about the wonderful and crazy decade of the Sixties.

Microsoft Word Tips Adding and Removing Watermarks

Microsoft Word Tips Adding and Removing Watermarks Microsoft Word Tips: Adding and Removing Watermarks Watermarks are faint images or words that sit behind the text in a document. There are many reasons you may need to use a watermark, especially in the business and professional publishing worlds. In this post, we’re looking at how to use watermarks in Microsoft Word. Why Use a Watermark? The most common uses of watermarks are to prevent an image being copied without permission or to show the status of a document. Here, we will focus on their use in written documents. Common cases where a watermark may be used in a document include: Using a â€Å"DRAFT† watermark for a work in progress Using a â€Å"CONFIDENTIAL† watermark for a document that contains sensitive information Adding a company logo to the background of each page in a document The faded writing would usually appear behind the text of your document. We will explain how this works in practice below. Adding a Watermark Microsoft Word offers a range of default text watermarks. These are categorized as follows: Confidential (e.g., â€Å"CONFIDENTIAL† and â€Å"DO NOT COPY†) Disclaimers (e.g., â€Å"DRAFT† and â€Å"SAMPLE†) Urgent (e.g., â€Å"ASAP† and â€Å"URGENT†) You can add one of these to your document by: Going to the Design Page Background on the main ribbon Clicking Watermark to open a dropdown menu Selecting a watermark from the options available Adding a watermark. This will add the selected watermark to every page. You cannot add a watermark to just part of a document. If you want to add an image to the background of specific pages in a document, you will need to insert the image and then use the wrapping and image formatting options. Removing a Watermark Removing a watermark from a document is very simple. All you need to do is: Go to Design Page Background Click Watermark Select Remove Watermark This will remove the current watermark from throughout the document. Removing a watermark. Custom Watermarks Finally, you can also add a custom watermark to a document if none of the default options are suitable. To do this, go to Design Page Background Watermark and select Custom Watermark. Custom watermark options. This will open a new window, offering two main options: Picture watermark – Here, you can select an image to use as a watermark (e.g., a company logo), the size the image will appear on the page, and how faded it should be (the Washout option). Text watermark – In this case, you will find options to control what the watermark says, as well as the font, size, color, transparency, and angle of the text. Once you have selected a watermark, simply click OK or Apply to add it to your document.

Relationship Between Globalization And National Identities Essay

Relationship Between Globalization And National Identities - Essay Example This project stresses that having examined the impact of globalization on national identity, it would suffice to conclude that the relationship between the two variables is complex; however, what is clear enough is that national identities are still crucial features in today’s era of globalization and will remain unchanged through the coming decades. The perceived negative impact of globalization and advancements in communication technologies on national identities is insignificant because national identities in the so-called global village are not fragmented as it has been previously suggested. This paper makes a conclusion that despite the presence of strong sub-state national identities, devolution as well as separatist movements in the UK, an imminent disintegration of Britain is quite unlikely and the increasing cultural diversity of the society does not necessarily complement or threaten national identities. Countries are defined by their unique national practices that are framed in unique national symbols; national practices within countries contribute immensely to people’s everyday experiences. In that respect, national identities are inseparable from national practices and as long as these practices endure, national identities are here to stay and cannot decline even in the face of the increasing threat of globalization and advancement in information communication technologies.

Values, Principles and social work Ethics Term Paper

Values, Principles and social work Ethics - Term Paper Example She is also very sensitive being that she was repeatedly assaulted by not just those in the prison system, whether it being the guards or the other prisoners, but also taken advantage of by the gentleman whose task it was to leave Iran and get to Canada. With this, along with her later living in a male dorm being classified as male but still wearing makeup, an assumption to be made here would be that from the traumatic experiences of Ms. P. throughout the course of her earlier life, she has been so victimized to the extent that she wishes to hide her sexuality to the outside world as a means of protecting herself from further hurt and anguish. A safety mechanism of sorts. Faced with the declaration that she may be gay, Ms. P. sought refuge with an Aunt who appears to have not only let Ms. P. wear her clothes, but also use her makeup, which also would be relevant towards the larger choice of having makeup application be her education goal. The notion of her maintaining a happy memory from her past, this being the kindness of her Aunt and wishing to take that experience and use it for her future. Response: First and foremost, the story of Ms. P. brings about a strong sense of sadness and heartbreak for the situations that she was forced to face throughout her life. Complete bewilderment as to how someone could go through as much as Ms. P. would have, but still find the means of grasping that one happy moment in time, in her case what surely had to have been the time with her Aunt and taking that by having her studies be centered upon the makeup in television and videos. A reaction of anger towards those who would have sought to inflict such harm and danger upon such a young person. Anger at such a travesty being inflicted upon someone who had little, if not none at all, recourse for sticking up for herself. The idea that only her Aunt would provide the safe

Internet and Our Social Life Essay Example for Free

Internet and Our Social Life Essay For a few decades now, the internet has been an important gear in the ticking clock we like to call everyday life. Its significance and usage is ever growing, as well as the number of areas in which it has crept in. The phenomenon that is the internet brought power at the click of a mouse, but as it goes with power, consequences are inevitable. The internet is, undoubtedly, the largest source of information today. It is also a practical tool for managing bank accounts, staying in touch with friends and communicating with people all over the world, with technology that enables you to simultaneously talk while looking at the person on screen and even hold video conferences. But practicality and availability of information are not the only things that attract internet users. In online social communities, forums and game rooms people are given the opportunity to be whoever they want to be. The internet gives us virtual clay which we can use to mold our identities in any way we want. Especially in game rooms, people tend to fantasize and invent characters in order to compensate for the lack of their own. That is how a regular John Doe can go to his boring work every morning, but come back home, turn his computer on and become Zyborg, the hero from outer space. The cyber space can be used as a resort when real life is difficult to deal with. For example, people with low self-esteem or people who lack social skills will probably find online chatting much easier than talking to the person face to face. Such use of internet can make one’s life more interesting or less stressful, but too much time and dedication to it can lead to serious social and psychological consequences. If a person spends too much time on the computer, with its virtual character and virtual friends, he develops a virtual life which he may prefer more than the real one. Consequently, even though he might feel satisfied and safe, he does more damage than good by neglecting some important parts of his regular life such as time with his family, health, responsibilities and productivity. Lately, a diagnosis called Internet addiction disorder has been introduced for people who are thought to spend too much time on the internet. This issue is facing its beginning and it i s still disputed whether it is a real disorder. But according to Dr. Maressa Orzack between 5% and 10% of internet users suffer some form of internet dependency and she lists withdrawal, loss of control, and compulsive behavior as some of the effects. Online dating sites, which people visit in order to find a partner for romantic or sexual relationship, have made courtship easier, but, paradoxically, there have been many cases in which the internet was the prime cause of ending a relationship, marriage or even filing lawsuits. With internet becoming more and more integrated into our lifestyles it is only normal that the effects, both positive and negative, be visible in all aspects of our lives, including socializing. It is nice to be able to see your sister who lives miles away smile for you on screen as if she were in the room with you, or exchange e-mails with a person who you normally wouldn’t have the courage to come up to, but it would be a scary thing if cafes would become empty and internet networks overloaded with Zyborgs.

Roe V. Wade Essay -- essays research papers

January 23, 2000 marked the twenty-seventh anniversary of the Roe v. Wade case. It all started out in a small town in Texas where a woman under the alias Jane Roe filed a case in district court for a woman’s right to choose abortion. At this time law in Texas prohibited abortion. Eventually the case moved to Supreme Court. The attorneys for Roe argued that the law was unfair and unjust. They said that the unborn fetus id not a real person. They pointed out that a women should have the right to control their own life and body. They said it was a right of privacy and if women fell that it’s the right choice to abort a baby they should be allowed to make it. They also said that women should be able to abort a baby if the birth of the baby would endanger the life of the mother or the baby, they should have a right to abort it. They also argued that women have fundamental right to abortion. The case, which was filed in District Court, was filed against Dallas District attorney Wade. Wade strongly opposed abortion he believed abortion was murder. Wade made the point that Fetus is human being and has right to life under the law. He also argues that the fetus is life upon conception. He said that abortion hurts women not only physically but psychologically. Abortion can result pain, discomfort, and unstable metal conditions. According to the fourteenth amendment a person has an undeniable right to freedom. They stated that the fetus has a right to freedom guaranteed by this amen...

Confucius’ Social and Political Philosophy Essay

These days we are focusing on the topics of Confucius’ social and political philosophy. After finishing readings of this section, I would like to give reflections that mainly about Confucius’ view on governing and analyze the traditional culture and administration of our country. This essay will present my opinions about the merits and demerits of nowadays Chinese society’s government. First, let us deal with something that Confucius would say that Chinese society is currently doing well. According to Confucius, when the population is already numerous, make them wealthy will further improve them, and once they are wealthy, to instruct them will improve them further more.[1] I think this passage is suitable for making appraisals to nowadays Chinese society, because China has a large population and Chinese government is taking the road of common prosperity, these are very similar to passage’s description. The road of common prosperity means, for the purpose of enabling more and more people to become prosperous, some people are encouraged to become prosperous first, and at last all people will become prosperous. In my own understanding, I think this passage did not show that Confucius think wealth is more important than education. I think what Confucius want to said is, to make people wealth does not means just make people hold a lot of money, actually it means to let people live a peaceful and wealthy life, which is important to build a harmonious society. In addition, Chinese government also focuses on education, like the government increases the input of fund for rural compulsory education. In another passage, Confucius said â€Å"If common people’s need are satisfied, how could their lord be lacking? If the common people ‘s needs are not satisfied, how can their lord be content?† [2] These above passages show Confucius think it is important to satisfy common people’s needs, to let them live a wealthy life is necessary for reaching this goal, so he would be pleased to see Chinese government is paying efforts to improve people’s life and education. However , it is obvious that there is also something Chinese government is currently not doing well. In recent years, human flesh search engine became very popular. According to Wikipedia, human flesh search is a primarily Chinese internet phenomenon of massive researching  using Internet media such as blogs and forums. What made human flesh search became famous is misconduct in public office were exposed frequently through this way, this means the government is not honest enough. When this kind of things happened, it usually begin with some public servants wearing or using luxuries in public activities, then people think it is suspicious that public servants can afford those kind of luxuries, so they begin human flesh search to find out what happened. Confucius would be displeased, because the dishonest behaviors of some public servants are damaging government’s reputation. According to Confucius, he said he would sacrifice armament and food, but he though a state cannot stand once it has lost the confidence of the people.[3] That means Confucius regard the confidence of the people as the most important thing for a government. There is also an old saying that the lord is a boat and common people is water, means when a lord gain the supports from his people, it is like the water make the boat float over water-surface. And it works both ways. The correct attitude towards common people will gain people’s support, the bad reputation cause by dishonest governing will lose people’s support, it is no doubt that Chinese society is not doing well at this point. Confucius also said â€Å"Raise up the straight and apply them to the crooked, and the people will submit you. If you raise up the crooked and apply them to the straight, the people will never submit.† [4] When we understanding this passage and relating it to nowadays society, I think the â€Å"straight† can be understand as the public servant who work honesty and really care of common people’s interests. Likewise, â€Å"crooked† can be understand as the public servant who abuse power and damage common people’s interest. Chinese government did not build up a complete supervise system to punish the corrupt officials and it is what government should do in the future. The key to adopting Confucius’ philosophy centers on discarding the dross and selecting the essence. Chinese society is doing a good job in striking a balance between social improvement and inheritance on traditional culture, like the idea about building up a harmonious society. I think Chinese society should be as Confucian as it is today, because although we can carry forward things from tradition, we cannot carry forward everything from tradition, we need to keep pace with the times. Some of Confucius’ view on governing cannot accommodate itself to the Chinese society’s development. For example, Confucius said, let the lord be a true  lord, the ministers true ministers, the fathers tr ue fathers, and the sons true sons.[5] In this passage, Confucius was only requiring the lord to fulfill his obligation, but he did not require any democratic rights which are extremely important to nowadays society. In ancient China, People did not have their right to choose a lord they want, but nowadays people are supposed to have their democratic rights and choose the government they want. The Chinese society must comply with the world development trend. We should accept the good things showed in the passage, like the idea â€Å"to do what you are deemed to do†, but for governing, we are not supposed to take its idea like â€Å"people serve their lord and cannot against the lord† Chinese society does not take the wrong way and its governing is becoming more and more democratic, so it is Confucian enough and it just need to keep this style. In conclusion, there is still lot of things that we can use the experience of Confucius for reference, the view on governing is just a part of it, and Confuciusâ€℠¢ philosophy is always the important asset for us.

Human Resource Is the Most Important Assets in an Organization Essay

Assets can be defined as â€Å"tangible and intangible resources of a firm which can be drawn upon by a the firm when required to achieve its objective(s)† (Ray and Ramakrishnan, 2006). Tangible assets include financial and physical assets such as machineries and manufacturing plants while examples of intangible assets are branding, company reputation, technological know-how and human resource (Noe et al., 2012). Human resource is the most important asset of an organisation. Using studies which showed that effective use of human resources contributed to better corporate performance and/or productivity, this essay attempts to show that this intangible asset is a key driver in the survival and competitiveness of an organisation. For organisations to be successful, they need to survive and obtain an advantage over their competitors. There are many ways to attain a competitive advantage, including patented product and process technologies, protection and regulation of domestic markets and access to financial resources (Pfeffer, 1994). However, the aforementioned contributors of success are deemed to be less relevant in today’s societies because technologies can be imitated, markets are increasingly globalised and global capital markets ever more opened for worldwide movement of financial resources (Pfeffer, 1994). Instead, in today’s organisations, it is widely accepted that employees are key strategic resources for companies because their knowledge, expertise, ideas and services drive innovations, steer product developments and build relationships with clients. This in turn increase companies performances through multiple means such as driving profits, increasing productivity and building large customer bases. For example, Sears, a multinational US company, attributed its transformational success through its believe in the 3†³Cs† of â€Å"Compelling Place to Work†, â€Å"Compelling Place to Shop† and followed by â€Å"Compelling Place to Invest† (Yeung and Berman, 1997). The senior management at Sears believed that by optimising its human resources (through shaping of employee’s attitudes, increasing motivation and skills), it will become an attractive venue for customers to shop with high level of satisfaction. Consequently, it will be a good investment option due to strong financial results (through increase in customer expenditure) and productivity (through optimisation of human resources) (Yeung and Berman, 1997). Strategically valuable resources may give companies a competitive edge. Bartlett and Ghoshal (2002) argued that there is an evolving corporate strategy from one that competes for markets and products, to one that compete for resources and competencies, to the current strategy of competing for talents and dreams. Resources are deemed to be valuable when they cannot be easily imitated, their value depreciate slowly, they cannot be easily substituted and they are relatively better than competitors with similar resources (Collis and Montgomery, 2008). While these resources may be tangible or acquired capabilities, it is the view of this author that it is people that best fit the described characteristics of valuable resources. Creativity and expertise of an employee may not be easily duplicated. It takes time to groom talents, and their experiences and competencies cannot be easily replaced. Thus, to gain a competitive edge, companies need to invest in the hearts and minds of the key success factor – human resource. Many studies have shown that effective HRM (such as investments in training and strategic HRM) had led to increase in company performances, through proxy indicators such as increased profits return, labour productivity, and service quality. In the employee-customer-profit chain model devised by senior management at Sears, they predicted that a 5 unit increase in employee attitude will drive 1.3 unit increase in customer impression that will in turn increase revenue growth by 0.5% (Rucci et al, 1998). When put into context, in 1998, a 4% rise in employee and customer satisfaction translated to an increase in more than $200 million of revenues over a 12-month period (Rucci et al, 1998). Other than the example on Sears, Choudhury (2010) showed that there is a positive relationship between investment in human capital and company performance in India’s information technology sector. Similar positive correlation can also be observed from studies analysing quality of human capital an d sales revenue per employee in Romanian software companies (Camelia, 2012) and perceived effectiveness of rewards on corporate performance in Nigerian Banks (Ojo, 2011). As an important asset of the organisation, human resources need to be managed properly. HRM encompasses a multitude of responsibilities including recruitment, training and development, benefits, health and services (Noe et al., 2012). There are many case studies that have demonstrated that a highly-skilled workforce and appropriate training of employees play a key role in increased company performances. A survey done on 62 retail stores showed that percentage of personnel trained in their designed training programme correlated with the stores’ performances (Russell et al., 1985). Another study done in 15 manufacturing sectors of seven European Union countries suggested that intermediate- and highly-skilled workers increases labour productivity, which is a proxy for companies performances (Corvers, 1997). It is envisioned that with training, employees will be equipped with job-related skill sets and competencies. A company with cutting edge technology needs employees with the know-how to operate the machineries. A retail shop may distinguishes itself from another shop that sells similar merchandise through quality services that helps build a brand name and large clientele. Employees may learn how to serve customers through training programmes. A study of 2003-2006 Training Top 100 survey report published by the Training Magazine showed that there is a positive correlation between training expenditure and operating performances (Liao et al., 2011). This supports the general perception that training is an important HRM tool for companies to survive in the increa singly competitive market. Human resource is a key contributor to the success of organisations today. Examples used in this essay reinforced the argument that human resource is likely to the most important corporate asset as it is a unique resource that drives companies performance. In order to effectively tap on this valuable resource, companies need to train employees so that their potential can be harnessed.

Quotes From the Classic Novel Black Boy

Quotes From the Classic Novel Black Boy Black Boy  by Richard Wright was first published in 1945. This autobiographical novel was a bestseller, and it is an important 20th-century work of literature. Another famous novel by Richard Wright, Native Son, was published in 1940. Here are a few quotes from Black Boy. Black Boy Quotes The faint cool kiss of sensuality when dew came onto my cheeks and shins as I ran down the wet green garden paths in the early morning. Im hungry now, but I wont live with you. Im doing all I can, When you get through, kiss back there. White, red and black, but quickly tells him to hush, saying, Theyll call you a colored man when you grow up. Do you mind, Mr. Wright? You cant eat a dead dog, can you? If I kissed my elbow, I would turn into a girl. At the age of twelve, before I had had one full year of formal schooling, I had a conception of life that no experience would ever erase, a predilection for what was real that no argument could ever gainsay, a sense of the world that was mine and mine alone, a notion as to what life meant that no education could ever alter, a conviction that the meaning of living came only when one was struggling to wring a meaning out of meaningless suffering. I said to myself, that boy just doesnt know what hes doing... The naked will of power seemed always to walk in the wake of a hymn. You ought to know God through some church. Even if that isnt right, its not far wrong. I never saw a dog bite that could really hurt... the principals speech is the better speech. My ass is tough and quarters is scarce. This was the culture from which i sprang. This was the terror from which I fled. Color hate defined the place of black life as below that of white life... Having been thrust out of the world because of my race, I had accepted my destiny by not being curious about what shaped it. Trying to please everybody, I pleased nobody... We must have a purge. You lost people! I lived in the South and I never saw any chain gangs. Get out of our ranks! I would send other words to tell, to march, to fight, to create a sense of the hunger of life that gnaws in us all, to keep alive in our hearts a sense of the inexpressibly human.

A Better Chance Helps Students of Color Attend Top Schools

'A Better Chance' Helps Students of Color Attend Top Schools The scholarship organization A Better Chance (ABC), founded in 1963, has provided many students of color with the chance to attend college-prep private schools and public schools across the country. Their mission clearly illustrates the goal of the organization: Our mission is to  increase substantially  the number of well-educated young people of color who are capable of assuming positions of responsibility and leadership in American society.  Since its founding, ABC has grown greatly, first starting out with 55 students enrolled at nine schools to now more than 2,000 students enrolled at nearly 350 of the best private schools and public schools, as of the 2015-2016 school year (ABCs website has not been updated since we initially reported this statistic in July 2016).   United States President Lyndon Johnson meets with African American and white political figures from New Jersey, discussing aspects of his War on Poverty legislation. Afro Newspaper/Gado  /  Getty Images A Brief History   Originally, the program involved identifying and selecting talented students of color and providing  scholarships  for them to attend  private day  and  boarding schools. In the first year, even before  President Lyndon B. Johnson  announced his War on Poverty, 55 boys, all poor and mostly African-American, took part in an academically rigorous summer program. If they completed the program, the  headmasters of  16  private  schools agreed to accept them. In the 1970s, the program began to send students to competitive public high schools in areas such as New Canaan and  Westport, Connecticut; and  Amherst, Massachusetts. Students lived in a house staffed  by program tutors  and administrators, and the local community provided support for their house. In addition, many  colleges across the country, from Stanford in California to Colgate in New York state, have partnered with ABC to express their interest in promoting diversity. Racial Diversity   The current program is focused on increasing diversity at educational institutions.  While the majority of students enrolled are African-American, today the program also includes a wide range of diverse students. In addition to racial diversity, ABC also has increased its assistance for students of varying economic backgrounds, helping not only students who have significant financial constraints, but also middle-class students. The program offers to subsidize tuition for these students based on demonstrated financial need.   ABC notes that its scholars are a racially diverse group (figures approximate):   67% are African-American16% Latino7% Asian American1% Native American9% multi-racial or other Tracy Chapman. Chris Carroll/Getty Images   A Strong Alumni Base As a result of their dedication to making a quality education possible for students of color,  ABC can boast an alumni base of tens of thousands of individuals who are active in many fields.  According to President Sandra E. Timmons, there are over 13,000 alumni and alumnae of this program, and many are influential in the fields of business, government, education, the arts, and other areas. The organization includes among its famous alumni  Governor of Massachusetts  Deval Patrick, who was raised on the South Side of Chicago by a single mother. One of his middle school teachers recognized his talent, and Mr. Patrick was able to attend Milton Academy, a boarding school in Massachusetts, on a scholarship. He later went on to attend Harvard College and Harvard Law School before becoming governor of Massachusetts. Another notable ABC alumna is  singer/songwriter Tracy Chapman,  who was born in Cleveland, Ohio, and attended the Wooster School in Connecticut on a scholarship. The Wooster School is a private co-ed pre-K through 12  school. After she graduated from the Wooster School in 1982, Ms. Chapman went on to  Tufts University  near Boston, where she majored in African Studies and Anthropology. She also started to perform at local venues, and she was discovered by a classmate whose father helped her get her first recording contract, though she insisted on graduating from college first. She is famous for singles such as  Fast Car  and  Give  Me One Reason. Program Requirements and Fees The College Preparatory Schools Program (CPSP) of ABC works to identify, recruit, place and support deserving students of color in college prep middle and high schools. Students applying to ABC must currently be in grades 4-9 and be citizens or permanent residents of the United States. Students must also be academically strong, maintaining an overall average of a B or better and rank within the top 10% of their class. They should also participate in after-school activities, demonstrate leadership potential, and have good character. They must also receive strong teacher recommendations. Interested applicants must submit an inquiry online and later create an application, as well as write an essay,  ask for letters of recommendation, and be interviewed. Member schools may require additional steps as part of the overall application process, such as standardized testing or additional interviews. Acceptance at ABC does not guarantee admission at a member school. Participation in ABC is without cost, and the organization offers fee waivers for its scholars to take the SSAT and to apply for financial aid. Member schools do charge tuition, but all offer financial aid which is usually based on a familys personal financial situation. Some families may find they must contribute some funding towards a private school education, which can often be paid in installments. Article edited by  Stacy Jagodowski

Media Research - Discussion Essay Example | Topics and Well Written Essays - 500 words

Media Research - Discussion - Essay Example The focus of the most desired effects studies would be on the content of video games as a mass media format and how it impacts youth personality and behavior. A recent study identified that the content of violent video games maintains the ability to lower player empathy toward others, in a survey of 307 adolescents between fourth and sixth grade (Funk, Baldacci, Pasold & Baumgardner, 26). It was cited as the â€Å"creative nature† of these games, accompanied with violent content, that changed how young individuals in society can lose their sense of compassion and kindness toward others with routine exposure (Funk, et al, 26). As identified, many varieties of this type of mass media contain advertising imagery that also alters attitudes and lifestyle focus, making effects studies absolutely fascinating. Offers one psychologist, â€Å"regular exposure to games actually rewires a child’s brand, making them more amenable to violence† (gamepolitics.com, 1). This, again, is why effects studies would be so critically important to understanding the role of different mass media formats on human behavior as they actually manage to create bio-physical changes to the human brain. Since there are many different formats of mass media other than video games, effects studies on all types of media could determine whether actual brain restructuring could be a potential and common outcome as a reason for why people change their attitudes and social behaviors. Effects studies related to video game media could be expanded to include the potential for television, radio and the social media found on the Internet to determine whether bio-physical changes occur after routine exposure to multiple media sources. By taking a larger sample of individuals who are not only children but include multiple demographics with different socio-economic backgrounds, actual brain measurements can be taken to witness whether structural changes occur after constant exposure to