Regulatory and Economic Environment Term Paper Example | Topics and Well Written Essays - 1500 words

Regulatory and Economic Environment - Term Paper Example In fact, a somewhat 'hands-on' approach is used in order to have a say in the economy by the government. The regulatory framework in India is to provide accounting information so that the government can execute planning and managing of corporate behaviors. All companies are expected to be honest about their accounting practices irrespective of how big or small they are. Types of business organizations: Roberts, Weetman and Gordon stated, "an important economic feature influencing accounting is the type of business organization that dominates the economy. Two features of business organizations are particularly important in helping to explain accounting rules practices: stated that in India the business can be categorized into very large business houses, medium business organizations and very small businesses. There are many family-owned businesses too. Contrary to the popular belief the family-owned businesses in India are not always small. In fact, the largest business house in this country is a family business. Hence the regulatory framework is based on the size of the business organization. ...In fact the implementation of the International Accounting Standard - IAS 41Agriculture can be attributed to the pressure from agriculturally rich countries like India. India is growing by leaps and bounds in technical sectors and foreign trade and investments. Many multinational companies have opened their doors to India. So accounting regulations are also issued in the interest of foreign currency transactions and translation. Legal factor: India operates largely on the common law legal system but incorporates religious laws too. According to Institutional Shareholder Services, "India's Companies Act has been in place since 1956 and sets out the current three-tier system of administration on the national state and regional level" (para.5). The main purpose of common law in this country is to protect the owners of the companies.  

Comparison of strategy of Nike and Adidas Essay Example for Free

Comparison of strategy of Nike and Adidas Essay 1.0 Introduction: Johnson, Scholes and Whittington (2005, p.9) defines strategy as the way in which an organisation plans to use its resources effectively in order to gain a competitive advantage over the long term. In other words the carefully planned guidelines that organisation’s follow, which differentiates them from other organisations. Mirow (2005,p.10) suggests that strategy of Amazon.com,Inc., a multinational electronic commerce company headquartered in Seattle, focused on providing customers with low price, convenience and a wide selection of merchandise. They focused on this strategy and started their website in 1995 as an online book retailer. They slowly expanded their products and are currently an online shopping website with the largest product supplies online earning revenues in billions. Hence we can see how important strategy is for the success of an organisation. There are three levels of strategy, which are corporate level, business  level and functional level strategy. Strickland and Thompson (2003, pp.50, 55 and 56) suggests that the corporate level strategy is the strategy which is determines the overall purpose and prospect of an organisation and reflects on how to add value to different parts of the organisation. The business level strategy provides guidelines on how to excel competitors or survive in a particular market and the functional strategy is the contribution made by the resources, people and processes to the business and corporate level strategies. Companies strive with their strategies in order to become the leader in their specific industry or market. Nike and Adidas are the top two competitors in the footwear, apparel and accessories segment of the textile industry. The focus of the latter part of this report is on how these competitors compete with each other using their strategies. 2.0 Literature review: In order to fully understand about strategy, it is mandatory to know about the five generic competitive strategies. The five generic strategies according to Strickland and Thompson (2003, p.150) are low-cost provider strategy, in which the organisation provides goods or service at a low cost, broad differentiation strategy, in which the organisation differentiates its products or services making it appeal to a vast range of customers, best-cost provider strategy, in which the organisation provides goods or services of high quality making it worth the amount they are charging which is lower than their competitors, a focused strategy based on lower cost, in which the organisations focus on a narrower buyer segment and provides them their goods or services at a lower cost than its competitors and focused strategy based on differentiation, in which the organisation focuses on a narrower buyer segment and produces product customized according to their needs. 3.0 Backgrounds of Nike and Adidas: [IMAGE URL: http://digestingdesign.wordpress.com/tag/nike/] 3.1 Company overview of Nike According to (www.nikebiz.com) NIKE,Inc. was founded in 1972 by Phil Knight and Bill Bowerman. It designs, markets and distributes athletic footwear,  apparel, equipment and accessories for a vast range of sports and fitness activities and are currently the world’s leading company in the athletic footwear, apparel and accessories segment in the textile industry. It is based in Beaverton,Oregon and has subsidiaries such as Cole Haan, which designs, markets and distributes luxury items such as shoes, handbags and coats. Their subsidiaries also include Converse,Inc. and Hurley International LLC and Umbro,Ltd. The revenue of Nike,Inc. as at May 2010 is around US$ 19014 million according to (www.biz.yahoo.com). [IMAGE URL: http://www.soccercleats101.com/2009/10/07/adidas-predator-x-get-ready/] 3.2 Company overview of Adidas Group: According to (www.adidas-group.com) Adidas, founded in 1949 by Adofl Dassler, is a sports apparel manufacturing company. Starting with athletic footwear such as running shoes and soccer shoes, they currently manufacture a wide range of products such as bags, watches, shirts and accessories. They are the second largest sportswear manufacturer, behind Nike,Inc. Adidas Group is made up of three companies, Reebok, TaylorMade Adidas Golf company and Rockport. The revenue of Adidas as at May 2010 is 14878 US$ Million according to (www.biz.yahoo.com). 4.0 Critical Incidents that occurred in the past: 4.1 Critical incidents that affected Nike: Nike, Inc. had gone through various incidents which had an impact on their success. According to Dermesropian, Drage, Grigaite and Lopez (2004,p.3) in 1972, Nike persuaded marathon runners at Olympic Tracks to wear their shoes which was an innovative strategy as it resulted in strong advertising when some of the runners were the top finishers and popularity of Nike continued to grow throughout the 70s. In 1979 Nike had 50% of the US running shoe market. In 1988 Nike introduced their famous slogan ‘Just do it’ and acquired a company called Cole Haan. They sponsored many famous athletes such as Michael Jordan, a famous basketball player and Tiger Woods, an excellent young golf player. During 1992 Nike acquired Canstar sports which included the hockey equipment maker Bauer and opened its first Niketown store. In early 1995 Nike acquired a license to put its logo on NFL uniforms  which resulted in strong marketing. Air Jordan [IMAGE URL: http://www.myairshoes.com/air-jordans/air-jordan-xx3-officially-unveiled.html] They launched a new brand called Jordan, in 1997, which was influenced by the famous basketball player Michael Jordan and one of the most famous shoes of that brand were called Air Jordan. Some incidents harmed Nike during 1998 as they had to cut 1,200 jobs due to the fall of sales in Asia and the demand of athletic shoes fell in 1999. Nike wanted to diversify and in the year 2000 they shifted a little towards the technological and electronic sector and introduced athletic electronics, which included MP3 players, heart monitors, and two-way radios. Products of Nike in the BCG matrix [IMAGE URL: http://www.robmillard.com/archives/BCG%20Matrix%20Big1.html] They opened their first Nikegoddess store in California in 2001. They acquired Hurley International, a distributor of action sports apparels and lost their license to put their logos on NFL uniforms to Reebok in 2002. In 2003 they acquired one of their competitors called Converse but it continued to operate independently in order to sustain the brands popular name. 4.2 Critical incidents that affected Adidas: Adidas also faced various occurrences in order to attain the title of the second largest athletic footwear sportswear and accessories manufacturer.   Adidas Samba [IMAGE URL:http://www.bestshoesmen.com/adidas.Men.Samba.Classic.Soccer.Shoe/detail.html] According to (www.adidas-group.com) Adidas registered as a company in 1949 with the three stripes logo as their trademark. (www.footballshirtculture.com) explains that in the year 1950 they produced the â€Å"Samba† all-round soccer shoes which are even now considered to be the best classic training shoe today. One of the biggest successes of Adidas was in 1952 when it was the most common shoe brand worn at the Olympic Games  held in Helsinki. They made the first track shoes with removable spikes. Emil Zatopek, in Adidas shoes, won three gold medals in one week creating a huge impact on the image of the brand. German National Team wearing Adidas in the 1954 football world cup [IMAGE URL: http://soccernet.espn.go.com/world-cup/feature?id=696762cc=4716ver=global] In 1954 Adidas became famous all over the world as the German national team was victorious in the football world cup for the first time, wearing Adidas shoes with screw-in spikes. In 1955 Adidas came up a shoe with exchangeable spikes which became very popular among the high jumpers. In 1964 Billy Mills won the men’s 10,000 meters wearing the new Adidas shoe which was considered the lightest shoe weighing 135 grams. In 1969 Adidas produced the world’s first injection molded multi stud soles of polyurethane, which gave a one year guarantee on the soles. Adidas began production of balls in 1961 and in 1970 their football was the official ball of the football world cup. In 1971 the famous ‘Fight of the century’ where Muhammad Ali and Joe Frazier fought with each other, both of them wore special boxing shoes d esigned by Adidas. Products of Adidas in the BCG Matrix [IMAGE URL: http://www.robmillard.com/archives/BCG%20Matrix%20Big1.html] Adidas Copa Mundial [IMAGE URL: http://www.footballbootroom.com/Adidas-Copa-Mundial] In 1979, Adidas produced ‘Copa Mundial’, which even today is still the world’s best selling soccer shoe. In 1986 Adidas introduced Azteca, the first synthetic world cup matchball in the world. However, in 1993 Adidas took over Sports Inc., a US based sports marketing company and Adidas was loosing US$100 million a year. Robert Louis Dreyfus had become the new president of Adidas and he downsized the German staff and went subcontracting to China. Adidas once had 70% market share in the US and it fell to 2% in 1993. In 1994 Adidas made a comeback by producing the revolutionary soccer shoe called the Predator during the soccer world cup in the USA. They went public in 1995 and acquired the Salmon Group which consisted of the brands TaylorMade, Mavic  and Bonfire in 1997. The new company is named Adidas-Salmon AG. They were the first sporting goods company to chosen as the official sponsor of a soccer world cup in 1998 when they sponsored the 1998 FIFA World cup in France. Adidas Predator Mania [IMAGE URL: http://www.produktenews.ch/newsflashartikel.cfm?key=179710] In March 2002 Adidas launched ClimaCool a footwear with a ventilation system and introduced the new Predator Mania boots and jerseys with the dynamic layering concept in the 2002 FIFA world cup with their own official ball called the Fevernova. They sold over 6 million footballs and more than 1.5 million jerseys and half a million of the Predator Mania that year. In 2006 Adidas became the official partner, supplier and licensee for the FIFA world cup to be held in 2006, 2010 and 2014. They acquired Reebok International in the same year. 5.0 Comparison of the strategies of the companies: 5.1 Strategies of Nike: In order to become the world’s leading designer, marketer and distributor of athletic footwear, apparel and accessories, Nike followed many strategies. Their corporate level strategy, according to Dermesropian, Drage, Grigaite and Lopez (2004,p.15) is their focus on innovation and emphasis on their research and development department in order to be profitable in the long run and they do their best to produce footwear, apparel and athletic equipment that reduce or eliminate injury, help in athletic performance and maximize comfort. They continue to expand their operation in the USA, Asia Pacific, Europe, Middle East, Africa and the American regions trying to reach as many customers as possible. Their business level strategy is a combination of the best cost provider and broad differentiation strategy, but more emphasis is put on the best cost provider strategy. They rely heavily on strategic outsourcing and most of their products are manufactured outside the United States. One of the main reasons behind their success following the cost leadership strategy is their extensive network structure that allows them to cancel their alliance with any company that fails to maintain their standards. They work very closely with their suppliers which allow them to produce their goods at a very low price and of superior  quality with the newest technology which makes them the market leader and the rest have to try producing similar goods close to their standard in order to survive in the market. They work very hard in their marketing strategies and which one of the primary reasons behind its success. Fig.1Fig.2Fig.3 Players who wear Nike – Fig.1) Cristiano Ronaldo [IMAGE URL: http://s702.photobucket.com/albums/ww24/bleedingblue97/?action=view ¤t=Cristiano_Ronaldo_Manchester_United.jpgnewest=1 Fig.2) Michael Jordan [IMAGE URL: http://www.ionlinephilippines.com/2009/12/michael-jordan-look-alike-michael-jordan-imposter-video/] Fig.3) Tiger Woods [IMAGE URL: http://www.dailyworldbuzz.com/tiger-woods-still-has-support-of-nike-gatorade-and-gillette/4970/] Nike hired famous basketball player Michael Jordan, tennis player Serena Williams and Tiger Woods who signed a seven year contract in order to be the spokesperson of Nike. In 2003 they spent around US$ 32.4 million on Net TV commercials and another US$ 39.8 for magazine ads. In order to become the market leader one has to follow a rigid and innovative strategy but to remain as the market leader the strategy has to be sustainable. According to (www.bizjournals.com) on a report published by Nike, suggest that they have planned five major programs in order to keep their corporate level strategy sustainable. In order to sustain in the long run Nike is now emphasizing more on the concerns about global warming. They have decided to focus more on their product design process, eliminating toxics and wastes wherever possible, start a GreenXchange web marketplace to share intellectual property which have been designed to act as a catalyst in green development, establish a lean manufacturing and human resource management in order to acquire a more equitable supply chain, establish a social program which combines education and sports programs for the third world countries and establish a new group call the Business for Innovative Climate and Energy Policy. 5.2 Strategies of Adidas: The strategies of both these sports giants are very similar but Adidas  focuses more the broad differentiation strategy. According to (www.adidas-group.com) the corporate level strategy of Adidas also focuses on innovation, trying to produce new products, services and processes in order to cope up with the competition. In 2009 the Adidas Group strategically decided to move from a vertically integrated brand structure into a functional multi-rand structure for the Reebok and Adidas brands. This created a global sales function which were responsible for commercial activities and a global brands function which were responsible for the marketing of both brands. The global sales function was also split into two departments, wholesale and retail, which catered to the various needs of both these business models. This was done in order to sustain their corporate level strategy for the long run so that these divisions could emphasize and work hard in their respective departments in order to make the most of their efforts. This led to the elimination of regional headquarters and moved towards more direct communication between the local markets and the global functions. They implemented a multi-brand strategy by having a diverse brand portfolio which allowed them to cater all segments of the market from players to almost everyone. This helped them to keep a unique identity and concentrate on their core competencies. Adidas focused their investments in the best marketing and distribution channels in different countries by critically evaluating the consumer buying behaviors and their constant struggle to secure prime shelf space. They have also embraced e-commerce in order to become more efficient and appeal to more customers and make purchasing much more easily accessible for them. Their supply chain is closely communicated and hence it helps them to customize their products which appeal to a wide range of customers. The organizational culture of Adidas group obligates employees to be innovative. This culture forces them to produce goods which are highly innovative and with the use of the latest technology their products have a very good quality. According to (ar2001.adidas-salomon.com) using latest technologies they produce products which enhances performances of players and they focus on sports such as football, tennis, basketball and even training shoes which are used by anyone with the ability to run. Their new technologies have lead to the production of Climacool, a shoe with a ventilation system and a ­3 a shoe with an energy management system that guides and drives an athlete’s foot  through each stride. Fig.4Fig.5Fig.6 Famous players who wear Adidas – Fig.4) Zinedine Zidane [IMAGE URL: http://s670.photobucket.com/albums/vv70/tomdavies99/?action=view ¤t=09_zinedine_zidane_dpa_300.jpgnewest=1] Fig.5) Kaka [IMAGE URL: http://soccerpitch.co.za/tag/real-madrid/] Fig.6) Kobe Bryant [IMAGE URL: http://family-fitness.mattters.com/2010/7/2/couldnt-wait] Adidas Trefoil logo [IMAGE URL: http://free-extras.com/images/adidas_logo-658.htm] Adidas has world class players who wear their products such as Zinedine Zidane of France, Alessandro Del Piero of Italy and Kobe Bryant an NBA champion who is a style icon for basketball lovers. They also concentrate on their classic items, reintroduce and redesign them under their Trefoil logo. 5.3 Comparison of the strategies of Nike and Adidas: According to (http://comparisonz.com) Nike and Adidas have almost similar strategies but different implementation methods. Both the companies concentrate heavily on technology and strive to produce new and innovative products. Nike focuses on the American markets whereas Adidas focuses on the European market. Nike does not have any production plants as they only design, distribute and market their products and hence they outsource to various countries in Asia, mainly Taiwan and Korea, which outsource their production to China, Indonesia and Vietnam. Adidas on the other hand, carry out all their production in Germany and recently has adopted Nike’s outsourcing policy by outsourcing to Asian countries. Nike and Adidas both follow a premium pricing strategy which according to Kotler (2003, p.272) is a strategy where companies charge a premium price for their products. Their competition is always intense and according to Anderson (2010) during the world cup 2010 Nike launched the popular â€Å"write the future†, three minute advertisement featuring world cup stars which was a major hit on Youtube and Adidas replied with their two minute video with celebrities like Snoop Dogg  and Daft Punk into a famous scene from the movie Star Wars. Nike sponsored nine teams whereas Adidas sponsored 12 teams. World’s Largest LED by Nike [IMAGE URL: http://johannesburgbc.ning.com/profiles/blogs/nikefootball-delivers-the] Even though Adidas was the official sponsor of the World cup 2010, Nike attached an LED display to a 30 story skyscraper in Johannesburg where soccer fans could write short messages using popular social networking websites such as Twitter and Facebook and Nike put up 100 messages on the side of the walls every night. Adidas adiPURE III Nike Tiempo Elite [IMAGE URL: http://soccerlens.com/shirts/nike-vs-adidas-buying-football-shoes-in-2010/6410/] Umair (2010) compares the constant rivalry between Nike and Adidas using their products. During the world cup Nike launched an Elite series for the 2010 world cup called Nike Tiempo Legend Elite which had customized shoes worn by famous football players such as Christiano Ronaldo and Cesc Fabregas. Adidas on the other hand, launched a new collection called Adidas Adipure for the world cup 2010 which also had customized shoes worn by famous players such as Kaka and Lionel Messi. In soccer Adidas shoes are worn by famous players such as Zinedine Zidane, Kaka and Lionel Messi, whereas Nike shoes are worn by Christiano Ronaldo, Wayne Rooney and the original Ronaldo. In basketball Nike shoes have been used by Michael Jordan and Adidas shoes have been worn by Kobe Bryant. 6.0 Future Plans of Nike and Adidas: It is easy to become the market leader or the market challenger for organisations but sustainability is the primary concern and hence organisations focus of the sustainability by coming up with strategies that will make their position sustainable in the long run. According to (www.environmentalleader.com) Nike’s future plans are to focus on the environment and production of eco friendly products. They mentioned in their 2005 and 2006 Corporate Responsibility Report that they will become carbon neutral by 2011 by reducing their Caron Dioxide emissions. They have decided  to design all Nike brand footwear in ways through which they can reduce waste production during product design and packaging. They will eliminate the use of volatile organic compounds and use more environmental friendly material in their products and be carbon neutral by 2011. Adidas on the other hand became the official sportswear partner of the London 2012 Olympic Games. The London Organising committee for the Olympic Games and Paralympic Games (LOGOC) has few regulations which all of its partners are obligated to follow. These obligations are focused towards the environment. Adidas, being a partner of LOGOC has to follow all these regulations as their future plans are to be the official sponsor of almost all major events in the world, and in order to achieve this goal their strategy is to produce environment friendly goods as well. They have to ensure that all their products are produced with environment friendly materials, which would protect the human health and the environment and their packaging should also be produced with materials that can be recycled. Hence we can see that both the future plans of Nike and Adidas are quite similar. 7.0 Conclusion: The main element that determines an organisation’s success or failure is the strategy it follows. Any industry is vast and the competition is also fierce and in order to survive in the competition organisations must devise innovative strategies. Nike and Adidas have started their journey decades ago and they have struggled but sustained their positions; Nike as the market leader and Adidas as the market challenger. Various incidents have occurred in the past to both the companies which were both good and bad, but it was the strategies that helped them survive and sustain their positions. The strategies of both these companies are quite similar and Adidas is not far behind from Nike, but any small mistake by Nike, might make them the market challenger and Adidas the market leader. Nike has to be very careful while implementing their strategies because Adidas is very close to becoming the market leader. Nike’s initial strategy of being just the product designer, distributor and marketer gave them the competitive edge against Adidas, because their investments were low compared to Adidas as they have production plants, but Nike should be very careful to sustain their market position. 8.0 List of references: Books: Johnson,G., Scholes,K. and Whittington,R.(2005) Exploring Corporate Strategy: Text and Cases. Seventh Edition. Prentice Hall. Thompson,A.A., and Strickland,A,J.(2003) Strategic Management Concept and cases. 13th edition. McGraw Hills. Kotler,P. ( 2003)Marketing Management, Eleventh Edition, Pearson Education. Websites: (2010) NIKE, Inc. Company Profile, [URL:http://biz.yahoo.com/ic/14/14254.html] (accessed: 29 August 2010) (2009) Adidas Group History, [URL:http://www.adidas-group.com/en/ourgroup/history/history.aspx] (accessed: 29 August 2010) (2010) Nikebiz: Company Overview, [URL:http://www.nikebiz.com/company_overview]/ (accessed: 29 August 2010) (2010) Adidas AG Company Profile, [URL:http://biz.yahoo.com/ic/92/92632.html] (accessed: 29 August 2010) (2010) The history of Adidas, [URL:http://www.footballshirtculture.com/2006102796/history/adidas-football-shirt-history.html] (accessed: 29 August 2010) (2010) Strategy, [URL:http://www.adidas-group.com/en/ourgroup/strategy] (accessed: 29 August 2010)/ Strategy: Adidas, [URL:http://ar2001.adidas-salomon.com/adidassalomon2001/strat_adidas/] (accessed: 29 August 2010) (2010) Nike vs. Adidas – Compare Side by Side, [URL:http://comparisonz.com/comparisons/100305/nike-vs-adidas]/ (accessed: 29 August 2010) (2009) Adidas: 2009 Sustainability review, [URL:http://ser2009.adidas-group.com/suppliers/3_4.html] (accessed: 29 August 2010) Articles: (2010) Nike plans to be Carbon neutral by 2011, [URL:http://www.environmentalleader.com/2007/05/31/nike-plans-to-be-carbon-neutral-by-2011] (accessed: 29 August 2010) Umair,A.(2010) Nike vs Adidas – Buying football shoes in 2010,

Vietnam :: essays research papers

The United States of America prides itself as the self proclaimed leader of the free world. Since the end of World War II the United States has chosen to use force in order to insure this so called "freedom" of other less fortunate nations who do not have the ability to defend themselves. According to the United States these infieor nations "freedom," has been in jeopardy since the beging of the cold war. Webster’s dictionary defines a democracy as a government by the people; a form of government in which the supreme power is vested in people and exercised directly by them or by their elected agents under a free electoral system. Since the start of the cold war, the United States has undertaken the policy that if you are not a democracy than you are not truly free. *~The government wants use to think that a democracy is pure and good where as a communist society is corrupt and harmful. The fact remains both a forms governments to control the inhabitants and to lead them so that their life might become better.~* The United States gives its citizens the right to periodicly elect their leaders. When the United States entered Vietnam after the French lost the war in 1954, why did it feel, it was necessary to choose to fight the Ho Chi Men lead communists, without even allowing the Vietnamese people a chance to elect their own leader under a free parlimentory electoral system. The Secretary of Defense from 1961 to 1968 Robert McNamara saw the Vietnam conflict escalate from 100 American advisors in 1961 to over 275,000 troops during the time of his departure. Vietnam was caught in a revolution, not unlike the civil war, split in two, north versus south. The battle lines where drawn, the 17th parellel the boundry, the communist state split to the north and a democratic state to the south. However, Southeast Asia was considored one of the most sensitive places at this time durning the cold war. Therfore North Vietnam’s communist neighb ors’ China and Russia, both supplied Ho Chi Men forces. While the south was backed by the United States(which had been funding the war effort since the French conflict). McNamara’s memoirs In Retrospect: The Tragedy and Lessons of Vietnam describes his powerful position in the Cabinet under the Kennedy and Johnson administrations. According to McNamara, the United States policy towards Southeast Asia was defined when President Eisenhower delivered his now famous, and "widely publized" 1956 speech.

Commentary on One Character in the Great Gatsby – Nick Carraway

Nick Carraway contributes to the Great Gatsby as the unbiased narrator. The tragic love story of 1922 is accounted through Nick’s eyes, with Nick serving as an observer of the relationship between the characters, in particular Gatsby and Daisy’s, the main lovers of the story. Nick’s retrospective view of the story emphasizes his dynamic character as his thoughts and perceptions of the characters display his loyalty towards Gatsby, and justice and honesty towards the judgement of events, though it is seen by the end of the story that his moral values have been debased by the shallow and corrupted lifestyle of the East. The Great Gatsby is told entirely through Nick’s perspective; this can be said that he is observing the events of the story instead of being involved in it directly. Nick can be seen as a trustworthy narrator, as he learned from his father that he should be ‘inclined to reserve all judgements. ’ Furthermore, Nick takes pride in his honesty, ‘I am one of the few honest people I have ever known. ’ This suggests that Nick gives an unbiased account of the events and a fair judgement on all the characters in the story. However, this is changed by the end of the novel as Nick judges both Tom and Daisy; he ‘objects to shaking hands’ with Tom during their brief encounter in New York, and describes the Buchanans as ‘careless people†¦smashes up things and creatures†¦let other people clean up the mess they had made’. This sheds light on Nick’s harsher perceptions of the Buchanans after Gatsby’s death, in contrast to his ‘inclinations to reserve all judgement’ in the beginning, accentuating his change of character and morality in effect of living in the East with the wealthy but shallow. In addition, Nick’s account of the story creates a stark contrast between the lifestyle in the East and the West. The West is associated with traditional, conservative values, in paradox to the urbanized, controversial and racy lifestyle in the East. As Nick attends a party in New York in Tom’s mistress’ apartment, he is ‘simultaneously enchanted and repelled by the inexhaustible variety of life’. This mirrors Nick engrossed with the glamour of the East yet ‘repelled’ by it at the same time. Nick is also seen as the dependable companion of Gatsby. In the beginning, Nick befriends Gatsby whilst attending his party, and was already treated exceptionally well by Gatsby with Nick ‘at his (Gatsby) urgent invitation, making frequent use of the beach. ’ This is revealed in Chapter 4 that Gatsby was using Nick to facilitate the rekindling romance between him and Daisy, Nick’s cousin. Despite this, Nick is a trustworthy friend of Gatsby; he serves as Gatsby’s confidant through him and Daisy’s affair, for example expressing his feelings to Nick about ‘feeling far away from her’ after he found Daisy seemingly repelled by one of his lavish parties. Though Gatsby is emotionally close with Nick, his business connections remain mysterious and unsolved. Nick’s relationship with Gatsby is enhanced by his death; he is the only one concerned and ‘finds himself on Gatsby’s side, and alone’ when he found that all Gatsby’s closest associates, including Daisy, had deserted him. ‘Just trust me and I’ll get somebody for you-‘ emphasizes Nick’s persisting strong bond with Gatsby. Nick also shows his admirable loyalty towards Gatsby by trying to reach his close partner, Wolfshielm, and many other guests in his parties to attend his funeral, ‘however it wasn’t in any use. Nobody came’ show his efforts in vain and him helpless. Nevertheless Nick and Gatsby shared a compatible friendship with Nick as a supportive companion. Nick contributes to the Great Gatsby as the moral compass. He showed his attentive attitude through ‘making an attempt to find his host’ whilst attending Gatsby’s party whereas the others merely gossiped about Gatsby, ‘I think he killed a man’. Furthermore, Nick refuses Gatsby’s offer of a dubious scheme that could earn him ‘a nice bit of money’, displaying his honest moral values in contrast to Gatsby’s shady business associations. However, Nick’s amorality heightens throughout the novel as he pursues a relationship with a woman who he states to be ‘incurably dishonest’, and enjoys her company as she is beautiful and is a golf celebrity, therefore is willing to make an excuse that ‘dishonesty in a woman is a thing you never blame deeply’. Additionally, Nick praises Catherine for lying to a judge, ‘she showed a surprising amount of character about it’, showing Nick’s morality contaminated by the dishonest, shallow values of the East. In conclusion, Nick Carraway contributes to the Great Gatsby as the narrator of the events, where he shows an impartial view of the characters. Furthermore, he is a reliable friend to Gatsby and the only concerning friend when Gatsby dies, suggesting his loyalty to him. Nick also possesses ethical moral principles, having come from the west, and was taught to ‘reserve all judgements’; however this is significantly changed by the end of the story as Nick becomes judgemental towards Tom and Daisy and shows praise for Catherine for lying to a judge about Myrtle and Tom’s affair. Nonetheless, Nick serves the role as the relatively unbiased judge of the story and a trustworthy confidant and companion of Gatsby.

Chief Seattle’s 1854 Oration †Was it true? Essay

Chief Seattle, leader of the Duwamish tribe, was author of the famous speech to Washington Governor Stevens upon his arrival to Seattle in 1854. However, many doubt Chief Seattle’s speech to have taken place. There is little credible evidence available to back up the existence of the speech with the exception of a newspaper article written by a Doctor Henry A. Smith. The article, titled â€Å"Chief Seattle’s Speech,† was published in the â€Å"Seattle Sunday Star† on October 27th, 1887. If Doctor Smith was witness to Chief Seattle’s epic speech, he was the sole translator. How are we to know that translation faults and liberations were not made by Doctor Smith? The Duwamish language was not a written language, having no alphabet, thus no official record or writing could have been made. For these reasons, it is highly probable Chief Seattle’s Oration of 1854 never existed. The first and only published account of Chief Seattle’s Oration was written in the â€Å"Seattle Sunday Star† on October 27th, 1887. The author of the article, Doctor Henry Smith, was said to have been a witness at the speech and served as a translator for Chief Seattle; however, no official document of this account exists in any historical archive. Chief Seattle’s speech has been widely cited in numerous books and documents, but every citation leads back to Doctor Smith’s article. Therefore, the only proof available that this speech ever occurred is the newspaper article dating back to 1887 from this one source. If we are to give the benefit of the doubt to Doctor Henry Smith as having been witness a to this speech, who is to say the translation was  correct? For all we know â€Å"Doctor† Henry A. Smith made up every word of the speech, nobody would know. Chief Seattle was known to have been illiterate, neither knowing how to read, write or speak English (McCarthy par. 12). His speech was presented in nice paragraph form, almost as if Chief Seattle was reading the address off a piece of paper, even though Chief Seattle could not read. The Duwamish language had no alphabet, it could not be written, it was only spoken. There is no possible way Chief Seattle could have had anything to  read from or look at while giving his speech to Governor Stevens. Due to these facts, no official record of the speech could exist. Yes, Doctor Smith could have written a near-perfect translation, but there is no evidence to suggest this. An account of the speech by the Duwamish tribe, or a copy of the speech in Duwamish, does not exist for anyone to refer to. The man known as Chief Seattle existed, the Duwamish tribe existed, Doctor Smith existed, these are known FACTS. However, there is only but one written account by a Doctor Henry Smith that this Oration took place, and only one translator was said to have been at Chief Seattle’s Oration and that one man was a Doctor Henry A. Smith. The Duwamish tribe had no written language for an official copy of this speech to have taken place, and there is no reason for anyone to believe that Doctor Smith took an exact translation with no liberations added. For these reasons, Chief Seattle’s Oration of 1854 never existed.

20 Synonyms for Type

20 Synonyms for Type 20 Synonyms for â€Å"Type† 20 Synonyms for â€Å"Type† By Mark Nichol Which type of word is suitable for referring to a type of person, place, or thing? Type will do, but plenty of alternatives, some with distinct and vivid connotations, are available. Here is a list of synonyms for type with connotations and sample sentences. 1. Bent: From the sense of â€Å"inclination,† this word has developed a figurative meaning closer to â€Å"bias† or â€Å"talent† but is also suitable as a substitute for type: â€Å"People of that bent will be bored here.† 2. Breed: Besides the functional use of this term to refer to types of animals within a single species, it may also be used figuratively to refer to someone with a previously described or implicit set of qualities: â€Å"Sadly, a person of that breed is hard to find these days.† 3. Character: This word applies in references to a person’s qualities or traits: â€Å"A man of that character will go far in this world.† 4. Class: Class is a general word for a grouping based on a predetermined set of characteristics, either rigorously or loosely applied: â€Å"As expected, the expert-class competition drew the largest audience†; â€Å"These are first-class accommodations.† However, it may also apply in discussions of socioeconomic level or quality of character: â€Å"Someone of that class probably wouldn’t appreciate it anyway.† 5. Description: This word usually applies to references to physical appearance: â€Å"Someone of that description was seen loitering downtown yesterday.† 6. Feather: Among many connotations for feather is the figurative expression â€Å"Birds of a feather flock together,† and it is in a related sense that the word is occasionally used as a synonym for type: â€Å"I need an accountant, or someone of that feather, to help me with my finances.† 7. Genre: Genre is confined to references to types of creative endeavors: â€Å"That genre of music is well past its heyday.† 8. Grade: This term is used in evaluative contexts: â€Å"We sell only the best grade of diamonds and fine jewelry.† 9. Ilk: Ilk originally had a specific genealogical sense, but this connotation relaxed to the point that the phrase â€Å"of that ilk† is synonymous with â€Å"of that type†: â€Å"Others of that ilk populated the vicinity.† 10. Kidney: This rare synonym for type suggests a reference to someone’s temperament: â€Å"If he’s of that kidney, he’ll be able to take the stress.† 11. Kind: Kind is the most likely synonym for type: â€Å"I never said anything of the kind†; â€Å"That kind of attitude will get you nowhere.† 12. Like: Among various uses of like as a noun, it means â€Å"people of that type†: â€Å"She and her like are up to no good.† 13. Lot: This word is often used in a derogatory reference to a group: â€Å"You don’t want to hang around with that lot.† 14. Manner: This word is employed in the sense of â€Å"style† or â€Å"approach†: â€Å"Her manner of speaking is grating.† 15. Nature: Nature, as a synonym for type, refers to a person or animal exhibiting certain characteristics: â€Å"A person of that nature isn’t to be trusted.† 16. Persuasion: In addition to its primary sense regarding inducement, persuasion is employed to refer to a personality trait or a lifestyle choice: â€Å"Someone of the politically correct persuasion would say something like that.† 17. Rank: This word for a type that denotes attainment of a grade or level of achievement also has a figurative sense: â€Å"He’s a gentleman of the first rank.† 18. Set: Set applies formally to any grouping on the basis of selected criteria, but it also connotes association with a certain type of people: â€Å"He likes to hang out with the smart set.† 19. Strain: This synonym for type suggests a fine distinction or an idiosyncrasy: â€Å"Our conversations were of a surreal strain.† 20. Stripe: This idiomatic synonym for type may derive from the use of stripes and other insignia to distinguish adherents of one member of the nobility from another. The sense persists in occasional modern usage: â€Å"Anyone of his political stripe would agree.† Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Vocabulary category, check our popular posts, or choose a related post below:70 Idioms with Heart11 Writing Exercises to Inspire You and Strengthen Your Writing20 Ways to Laugh

The Basic Format of an APA Abstract with Examples

The Basic Format of an APA Abstract with Examples The first thing youll notice on an APA abstract is the running head, in all caps. Directly to the right of it, youll see the page number, which should be 2.This is because the running head and page number are required in all APA papers, and continued at the top right-hand side of the page in all capital letters, along with the page number denoting the second page of the paper, following the title page.Basic format of an APA abstractIn the basic format of an APA abstract, the word Abstract is centered and without additional font changes. Then the abstract content begins beneath it- all in one paragraph with no indentation and one-inch margins on either side.Here is an example of the basic format of an APA abstract:This is the format all APA abstracts should follow.Notice that the running title of the paper and the page number are at the header of the page. The abstract itself is beneath the title Abstract, which is centered and without additional format at the center of the page. Addi tionally, the keywords are included at the bottom- this time with an indentation and the word Keywords italicized. Each keyword is separated by a comma.The abstract, itself, should be correctly formatted. Specifically, it should be one paragraph that is NOT indented, and it should include the following information:An introduction to previous studiesThe main problems with the previous studies that are address in the new study.How the new study has been conducted.What the new study reveals that adds to previous studies.Conclusions of the new studies that add to the literature on the topic.Keywords related to the topic, indented, with the title of Keywords italicized and the keywords themselves separated by commas.Below is an example of a correctly formatted and written APA abstract.This is a sample APA abstract in the field of Education.This shows you the formatting required for an APA abstract, as well as an example abstract written. Notice how the opening sentence summarizes what th e paper explores. The second and third sentences state the problem in research that the paper aims to address. And the abstract closes with the final aims of the paper, along with the results of the study.Keywords are then included at the bottom. Notice how they are indented and separated by commas.Also notice the white space at the bottom of the page. This is what you should aim for when writing your abstract. An abstract that takes up an entire page is often an overwritten, wordy one- and one that goes beyond the recommended 150 to 250-word abstract.

4 Tips for Writing the Perfect University of Washington Essay

4 Tips for Writing the Perfect University of Washington Essay SAT / ACT Prep Online Guides and Tips The University of Washington is often ranked among public Ivy Leagues- that is, public schools with the academic clout and selectivity to elevate their reputations. So if you want to be a Husky, it’s not just about good grades and test scores. You’ll also need to prove yourself with a good University of Washington essay, combining your technical skill with your knowledge of the school and your reasons for wanting to attend to attract attention from admissions officers. But to do that, you need to know how to write great UW essays. The University of Washington uses the Coalition Application, which can be submitted to multiple schools and includes an essay section with several different prompts. The supplemental UW essay prompts are pretty standard, but we have all the helpful tips you need to make sure your application is set to impress. What's Included in the University of Washington Essay Section? Part of the Coalition app is answering a short essay question with a word count of 500. The University of Washington application also includes an additional required short response question of 300 words and an optional short essay of 200 words. Additional space is available, but it's recommended that you don't take it unless you absolutely need it. Show restraint when responding to UW essay prompts; it shows that you can be concise and follow directions, and you won't run the risk of volunteering too much information or making yourself memorable for the wrong reasons. That said, we'll cover some exceptions below! Set aside plenty of time to write and rewrite your essay. What Is the Short Answer Prompt? Once you've finished the Coalition Application essay, the University of Washington has an additional requirement for you- a short response question with a 300 word limit. UW is careful to say in their guidelines that while the Coalition Application and its supplemental sections have a word count,you should treat that as a maximum. The University of Washington suggests that concise writing is particularly valuable, and recommends that the Coalition Application be between 300 and 400 words rather than 500. Though they don't offer word counts for the other prompts, it's best to assume they're looking for short answers. Cutting out 100 words might feel excessive, but dotry to leave some breathing room within your essay rather than squeaking in right under the allotted 300 words. For the UW essay, there's just one required prompt: Our families and communities often define us and our individual worlds. Community might refer to your cultural group, extended family, religious group, neighborhood or school, sports team or club, co-workers, etc. Describe the world you come from and how you, as a product of it, might add to the diversity of the UW. UW offers a helpful tip right below the prompt: "Keep in mind that the UW strives to create a community of students richly diverse in cultural backgrounds, experiences, values and viewpoints."What this means is that UW wants to see students who are going to be right at home in that diverse student body. When answering this question, consider specifically what you might add to the community. What perspective do you bring? What traits make you a good fit? Some students might struggle with this, because it's easy to assume that UW means they're only looking for students from diverse backgrounds, such as students of color, LGBTQ+ students, or students of other marginalized identities. But the prompt doesn't at all mean that you have no chance if you don't belong to one of those communities. Students who fit into those groups may have an easier time of identifying what diversity they bring to the school, but belonging to a marginalized group doesn't in any way guarantee admission. The University of Washington is looking for students who foster and embrace diversity, so be sure to think on those terms. Consider, for example, how your rambunctious family Thanksgiving taught you to embrace chaos, and how your ability to stop Great Aunt Kathy from throwing mashed potatoes at your cousin for bringing up a sensitive political issue translates to a college campus. Think about how having several different friend groups in high school- nerds and jocks, for example- taught you to move between spaces while always being your authentic self. For students whoare of marginalized backgrounds, the same advice still applies. You likely have different lived experiences than other students, but UW wants to know exactly what you're going to bring to the student community. You can discuss advocacy work, for example, or how your less advantageous upbringing taught you to work hard for everything you want. Always come back to that request to "Describe the world you come from and how you, as a product of it, might add to the diversity of the UW." Embracing diversity isn't just about being a member of a marginalized community; think about how you participate in your social groups and how your experiences before college will help you have and, more importantly,create a good experience for others.Again, it's not about what identity you do or do not have, but rather about how you build communities and support others. UW is a big school, but you'll still be interacting with people from all walks of life on a daily basis- how will you navigate difference and fit into a student body made up of so many different people? Let UW know exactly how they're going to help you make a slam dunk. What Should You Add in the Additional Information Section? The University of Washington essay prompt offers an additional 200 words for you to talk about yourself and your unique circumstances. This section is optional, and UW advises that the following types of students may benefit from taking the opportunity to expand on their application: You are hoping to be placed in a specific major soon A personal or professional goal is particularly important to you You have experienced personal hardships in attaining your education Your activities have been limited because of work or family obligations You have experienced unusual limitations or opportunities unique to the schools you attended Even if you don't fall into one of these groups, it's wise to take advantage of this additional space. Everyone has a goal that's important to them, after all, which is explicitly included in the second bullet point. However, you only have 200 words, so you'll need to make them count. Again, UW mentions earlier in their guidelines for the writing section that they value brevity. Don't try to hit that 200 word mark just because it's there- use only the space that you need. Be succinct and clear about any obstacles you've overcome, what draws you to your major, and what makes you want to attend UW specifically. For example, say you, like many prospective UW students, are interested in becoming a doctor. The University of Washington is highly ranked among medical schools, so saying you want to go there because it's a good medical program isn't doing any legwork in setting you apart from other students. Instead, use this space to talk about why your major is important to you, and why placement at UW is going to help you achieve more. Following the medical school example, maybe your primary care doctor was a UW grad, and the depth of care they gave you convinced you it wasn't just what you know as a doctor that matters, but also how you deploy that knowledge. Because you want to make the same difference in somebody's life, you're applying to UW to have access to the same information and instruction that your doctor did. In essence, use this space to explain something you didn't have space to explain elsewhere, but make it count. Be careful not to retread the same ground! This is an opportunity to flesh out your application, not to hammer something home. If you haven't had a chance to discuss that your grades slipped sophomore year because of a family illness or that your local library has a special box for you because of all the engineering books you keep checking out, now's the time to mention it. Keep it short, direct, and original- the admissions office is reading this supplemental section in the context of your application, so you don't need to revisit anything. Careful not to fall into the trap of using more space than you need. Should You Use the Additional Space? How? It can be tempting to use UW's provided additional space to squeeze a few more words into your application, but resist it. Those word counts are there for a reason, and you should aim to get under, not exceed them. That said, there are legitimate reasons to use this additional space. The University of Washington mentions clarifying answers from elsewhere on the application or providing extra information to the admissions office. If you have special considerations as a student that you want to be sure the office is aware of, but that you didn't discuss in the previous additional information section, you could include that here. You could also include relevant awards or distinguishing recognition you've received. If your high school had an unusual grading system, it might be useful to explain how to interpret your grades. But don't take the lack of a word requirement to mean that you can talk about whatever you want, or that you should use this space to expand on one of your earlier essays. Use only what you need, no more. Try to keep it under 200 words. Brevity is important! Want to build the best possible college application? We can help. PrepScholar Admissions is the world's best admissions consulting service. We combine world-class admissions counselors with our data-driven, proprietary admissions strategies. We've overseen thousands of students get into their top choice schools, from state colleges to the Ivy League. We know what kinds of students colleges want to admit. We want to get you admitted to your dream schools. Learn more about PrepScholar Admissions to maximize your chance of getting in. Tips and Advice for the University of Washington Essay Specific advice for each prompt will help you craft a better essay, but there are some general things to keep in mind, too! Proofread Your UW Essay It's a small space, so there should be fewer mistakes, right?Nope. You still need to proofread. Consider writing it by hand and then transcribing that draft- it feels like more work, but turning written words into typed words is a great way to spot mistakes. Go through multiple drafts, and read your essay out loud before you submit it. Don't let typos get through; no matter how good the rest of your essay is, a typo will make it look as though you didn't edit it at all, suggesting you didn't take your time. Do everything you can to avoid the perception that you wrote it up without thinking! Get Editing Help Seek feedback from those you trust, not just those who are going to tell you your essay is great. You want your essay to be as good as possible, so let people who are going to be truthful with you make suggestions. They'll help you write a better essay, and a fresh pair of eyes can spot holes in your logic and errors you might miss after repeated revisions. Think about going to teachers or counselors rather than friends or family. Though they undoubtedly want to help you, they might also be worried about hurting your feelings. Someone who's a little more objective but still wants to see you succeed is the kind of editor you want. Be Specific Always remember that you're applying to the University of Washington. Don't just write an essay that could impress any college (that's what the Coalition Application essay is for!); write one that ties into UW's core values. Their vision includes an emphasis on discovery, research, community, optimism, and even celebrating the natural beauty of the Pacific Northwest. All of these are angles ripe for exploration in your essays. If one of your answers is lacking, try folding a little of this vision into it by finding parts of your essay that match the mission and making them stand out more. Read Essays That Got Students Into UW It can be tricky finding essays that got applicants into UW, but it can also be a great indicator of what the school values in an application. Take these essays by Issa Rice. Though written for a different set of prompts, it's not hard to see why Rice was accepted. Notice how his essays could only come from him; they're so tied to personal experience that it's unlikely anyone else would have the same essay. That's the kind of personalization you want to strive for. Your essay should speak about your own unique experience and leave the admissions office with a clearer picture of who you are as a person, not just as a collection of grades and test scores. What's Next? Crafting a perfect essay is just one part of the admissions process to the University of Washington. Because UW is a moderately selective school, you need to be aware of all admissions requirements before applying to be sure that your application is up to snuff. As you're writing and rewriting your UW essay, be sure that it meets all the guidelines of a good college essay in addition to the UW requirements. A little extra polish will go a long way to cementing your application in the admission office's memory! If you're struggling to understand why UW uses the Coalition App and what that means, never fear! We have all the information on what distinguishes one application system from another, helping you plan your college applications with less stress. Want to write the perfect college application essay? Get professional help from PrepScholar. Your dedicated PrepScholar Admissions counselor will craft your perfect college essay, from the ground up. We'll learn your background and interests, brainstorm essay topics, and walk you through the essay drafting process, step-by-step. At the end, you'll have a unique essay that you'll proudly submit to your top choice colleges. Don't leave your college application to chance. Find out more about PrepScholar Admissions now:

The Wechsler Intelligence Scale for Children Essay

The Wechsler Intelligence Scale for Children - Essay Example The WISC-III was standardized on a representative sample in North America based on U.S.A. census data for 1988 (N = 2,200) (Canivez, Neitzel, & Martin, 2005). The sample was stratified across age, gender, ethnicity, geographical region, parental occupation, and urban-rural residency (Kaplan & Saccuzzo, 2001). A four-factor model of index score is widely supported (i.e., Verbal Comprehension, Perceptual Organization, Freedom from Distractibility, and Processing Speed) (Canivez, Neitzel, & Martin, 2005). The WISC-III has high internal consistency for all three IQ scores and the four factors, ranging from .80 to .97 (Canivez, Neitzel, & Martin, 2005; Kaplan & Saccuzzo, 2001). This reflects the 11 subtests (Symbol Search and Coding excluded) reported moderate to excellent internal consistencies, of .61 to .92 (Kaplan & Saccuzzo, 2001). Split-half reliabilities for the three IQs in 1991 were found to be .96 (FSIQ), .95 (VIQ), and .91 (PIQ) (Kaplan & Saccuzzo, 2001). Standard errors of measurement for FISQ, VIQ and PIQ average at 3.20, 3.53, and 4.54 respectively (Kaplan & Saccuzzo, 2001).

Comic spirit- new comedy Essay Example | Topics and Well Written Essays - 1250 words

Comic spirit- new comedy - Essay Example This influenced later comedy till the present day, â€Å"from Romans to Shakespeare to the West End and Broadway† (Perks 76). Roman playwrights Plautus and Terence employed ‘New Comedy’ in their work, as did Shakespeare in his Comedy of Errors. ‘New Comedy’ deals with a transfer of power from the older to the younger generation. In Terence’s The Self-Tormentor, Machiavelli’s La Mandragola, and Stephen Sondheim’s A Funny Thing Happened on the Way to the Forum, male sexuality and virility are central to the comic plot, and there is a focus on the power shift. Thesis Statement: The purpose of this paper is to investigate the shift in power from the older to the younger generation in ‘New Comedy’ portrayed in the Self-Tormentor, La Mandragola, and A Funny Thing Happened on the Way to the Forum. How these plays exploit male sexuality for comic purposes will be identified, and why male sexuality plays such a key role in the ‘New Comedy’ form will be examined. In Terence’s Heauton Timoroumenos (The Self-Tormentor) which was derived from Menander’s play of the same name, a wealthy youth Clinia develops a long-term, monogamous liaison with the young woman Antiphila, as evident from the following line, â€Å"almost now that he has her in the place of a wife† [prope iam ut pro uxorehaeret] (Rosivach 61). When Clinia’s father hears about the affair, he rebukes his son so strongly for his irresponsible actions, that the young man leaves Athens to become a mercenary serving a foreign king. His determination to make something of himself, echoes his father’s pursuit of success in his own youth (Rosivach 61). But, after compelling his son Clinia in love with Antiphila to go to the war area, the stern father Menedemus repents for his harshness, and torments himself mentally. Terence’s humour â€Å"arises from the

Hazard Essay Example | Topics and Well Written Essays - 4250 words

Hazard - Essay Example Therefore, hazardous chemicals should be appropriately labeled and stored in a place where they are not easily accessible to untrained staff. â€Å"A hazard communication program contains three basic components: labels, MSDS, and employee information and training† (106). Suppliers should provide labels on chemicals and each chemical should have a document describing its properties, hazards, and proper handling. Employees should be trained to know hazardous chemicals and how to protect themselves against physical or health hazards. This source is very important since it enables employers to know which provisions there are under the law, and gives employees the right to sue employers for non-compliance with hazard communication. This source compares to the book safety and the security professional: occupational safety and health strategies in the Annotated Bibliography (AB), in that they both base their interpretation of hazard communication on the Occupational Safety and Health Administration. This book, however, contrasts with the book Hazardous chemicals: control and regulation in the European market, because the latter centers on the classification of hazardous chemicals, while the former focuses on the legal aspects of hazardous substances. ... The author states that, â€Å"the entire safety program is driven to ensure that accidents are avoided, that workers remain healthy, and that productivity is maximized† (105). This can be achieved through staff training to ensure adequate disaster preparedness, and prompt emergency response and self protection. According to Wyman, â€Å"communicating chemical hazards starts with employers assessing the presence of hazardous chemicals in the workplace and establishing safety programs to minimize those hazards† (205). Ideally, hazard communication should, therefore, serve to notify employees of the hazardous nature of chemicals found at their place of employment. The work is imperative in the annotated bibliography, since it sheds light on how employees at all levels- ranging from directors to supervisors and subordinates - can ensure protection at the workplace, through hazard communication. This book compares to Hazardous chemicals: control and regulation in the Europea n market, in that both books provide information on how members of staff is supposed to protect themselves from physical and health hazards, for example, irritants and carcinogens. This source differs from the book A Guide for Safety And Loss Prevention Professionals in that the latter focuses more on the legal aspects of hazard communication, while the former emphasizes on safety maintenance at the workplace. Disaster management is indeed a practice that cannot be alienated if hazards have to be handled in the workplace. California Department of Industrial Relations. Guide to the California Hazard Communication Regulation. California: California Department of Industrial Relations, 2000. Print. In this guide, the

Why Sport Sponsorship is important for a company marketing strategy Dissertation

Why Sport Sponsorship is important for a company marketing strategy - Dissertation Example In addition to this, the research work also aims at understanding the influence of sports sponsorship on target audience. In this study, the researcher has selected a mixed research approach for this study, which includes both qualitative and quantitative research approaches. Following this approach, the study includes interview with manager of Nike and survey of Manchester United fans. The interview responses are analyzed on the basis of thematic analysis approach, whereas responses from survey are analysed statistically, which include descriptive and regression analysis of the responses. The study has concluded that sports sponsorship has a significant importance for business entities, particularly Nike, which has been considered in this study. The findings of the study have concluded marketers regard sponsorship as a significant marketing tool. In addition to this, an overall positive impact of sports sponsorship of Nike has been observed on its brand identity. In today’s b usiness world, marketers are in continuous search of new avenues which can be used to promote their products and services and therefore gain new customer bases or retain existing ones (Kotler & Armstrong, 2008; Farris et al., 2010). Sports sponsorship is a modern marketing tool, which is nowadays used extensively by a number of large business enterprises (Ferrand et al., 2007). Sports are today regarded as global events and when bearing sponsors they possess the potential to promote brands all over the world. Sponsorship is often viewed as an entirely different activity in comparison with promotion. This difference in viewing these two mediums of marketing is based on the fact that promotions are considered and used as a direct marketing tool which targets specific customer bases, whereas sponsorships are regarded as part of a company’s corporate social responsibility activities. As for instance, in sporting events sponsors pay significant amounts of money to help organizers to successfully arrange the event and entertain general public (Boyle & Haynes, 2009). However, notwithstanding the direct and indirect nature of promotions and sponsorships, corporate entities are always keen to gain from anything they do. Keeping aside the less direct nature of sponsorship, the underlying objectives are purely based on marketing principles. Building brand’s identity, equity, awareness, values, etc. is all what marketers seek through any channel of marketing (Ferrand et al., 2007). Moreover, with fierce competition all over the globe and increase in globalization and its effects, marketers have turned sports sponsorship activities into large scale marketing campaigns (Boyle & Haynes, 2009). 1.2. Research Aim The broad aim of this research work is to determine the

Shold gun be legal or illegal Essay Example | Topics and Well Written Essays - 1000 words

Shold gun be legal or illegal - Essay Example ties, global warming, health care, gay marriage, stem cell research and many other politically motivating subjects have ignited emotional ideological battles. Gun ownership ranks high among these political ideologies and to attempt to ban all guns would make these feelings even stronger. To make the case for upholding the widely perceived ‘right’ to bear arms by allowing rifles and shotguns of a certain length while banning handguns and assault rifles seems the sensible solution and a fight that could be won. This tactic has proven effective in other countries such as Britain and many other European nations. Those countries that ban handgun use have a much lower homicide rate than does the U.S. (Reynolds, Caruth, 1992). The concept that the easy access to firearms has an important impact on the homicide rates in this country is supported by the preponderance of the evidence. Nearly two thirds of all homicides taking place in the United States involve a firearm. Yet, chan ges in handgun laws were seen to have little to no impact on crime rates. This is not surprising based on fact that most violent criminals do not obtain their firearms through licensed sources (Wright & Rossi, 1994). Other programs, such as gun buy-back programs have been proven to be similarly ineffective for a variety of reasons including intention for use, ease of replacement and probability of use for crime. Earlier gun control policies enacted in 1976 and 1982 had similar disappointing results. Concealed weapons laws have actually been shown to have a positive effect on crime rates, that is, they contribute to an escalation in crime (Loftin, McDowall, Weirsema and Cottey, 1991). Laws that attempt to control handgun ownership for law-abiding citizens do not work and have been shown to actually... Gun enthusiasts, as they are politely referred, mimic the concept that more guns will lead to less violence, that if everyone were carrying a gun, criminals would be too scared to commit crimes. The more is less philosophy. This doesn’t square with reasonable logic or the facts. â€Å"Whenever you have more guns in a society, you’re going to have more gun violence, period†. The State of Texas is known, quite deservedly, as having an open policy regarding guns. Texas citizens are allowed to carry concealed handguns once completing licensing requirements. Then Governor, George W. Bush signed a law that specifically permits Texans to carry guns in church, the most sacredly peaceful of all places. In 2002, the Violence Policy Center conducted a study regarding concealed guns in Texas and found that, among other disturbing revelations, from 1996 to 2001, â€Å"concealed handgun license holders in Texas were arrested for weapon-related offenses at a rate 81 percent hi gher than that of the state’s general population aged 21 and older†. Lawmakers in Texas responded immediately to this situation by passing legislation that forbids the release of gun-related information.

Managerial Decision Making Research Paper Example | Topics and Well Written Essays - 750 words

Managerial Decision Making - Research Paper Example Managerial Decision Making Decision making is the procedure of identifying opportunities, problems, and solutions to these problems or opportunities. Making decisions involves effort, before and after the actual choice. Decision making occurs at all levels of a business. Frequently, the board of directors makes strategic decisions regarding investment and the course of future growth of a company, among others. Managers can make the tactical decisions regarding how their own department can contribute most effectively to the overall company objectives. Ordinary employees are also expected to make decisions regarding conduct of their own responsibilities, responses to customers and enhancements to business practice. There are two types of decision making; programmed and non-programmed decision making (Richard & Dorothy, 2010). Programmed Decision Making According to Andrew (2011), programmed decisions are made for routine, recurring for well-structured situations using predetermined dec ision rules. These rules normally apply prior experience or practical knowledge about what works in a certain situation. Programmed decisions are resolutions that have been made numerous times in the past; managers have developed guidelines or rules to be applied when certain situations are anticipated to occur. According to Richard & Dorothy (2010), programmed decisions are made to ensure smooth running of the organizational activities. For example, McDonald’s Corporation inventory manager will decide to order certain goods when the company is running out of stock. Few programmed decisions are structured to eliminate individual judgment. In programmed decision making, there are no errors in the decisions since it is routine, and managers normally have the information needed; to create guidelines and rules to be followed by others. Lower level managers are essentially confronted by repetitive and familiar problems; therefore, they typically rely on programmed decisions, such as standard operating procedures. In most cases, lower level managers deal with well-structured problems. If lower level managers come across ill structured problems, they pass on these problems to senior managers in the organizational hierarchy. Similarly, senior managers pass down well structured problems to their subordinates so that they handle more problematic issues. In programmed decision making there is little threat and ambiguity involved, the decision maker is certain on the consequences of his or her actions, pertaining to a certain issue (Andrew, 2011). Non-programmed Decision Making Non-programmed decisio

Shold gun be legal or illegal Essay Example | Topics and Well Written Essays - 1000 words

Shold gun be legal or illegal - Essay Example ties, global warming, health care, gay marriage, stem cell research and many other politically motivating subjects have ignited emotional ideological battles. Gun ownership ranks high among these political ideologies and to attempt to ban all guns would make these feelings even stronger. To make the case for upholding the widely perceived ‘right’ to bear arms by allowing rifles and shotguns of a certain length while banning handguns and assault rifles seems the sensible solution and a fight that could be won. This tactic has proven effective in other countries such as Britain and many other European nations. Those countries that ban handgun use have a much lower homicide rate than does the U.S. (Reynolds, Caruth, 1992). The concept that the easy access to firearms has an important impact on the homicide rates in this country is supported by the preponderance of the evidence. Nearly two thirds of all homicides taking place in the United States involve a firearm. Yet, chan ges in handgun laws were seen to have little to no impact on crime rates. This is not surprising based on fact that most violent criminals do not obtain their firearms through licensed sources (Wright & Rossi, 1994). Other programs, such as gun buy-back programs have been proven to be similarly ineffective for a variety of reasons including intention for use, ease of replacement and probability of use for crime. Earlier gun control policies enacted in 1976 and 1982 had similar disappointing results. Concealed weapons laws have actually been shown to have a positive effect on crime rates, that is, they contribute to an escalation in crime (Loftin, McDowall, Weirsema and Cottey, 1991). Laws that attempt to control handgun ownership for law-abiding citizens do not work and have been shown to actually... Gun enthusiasts, as they are politely referred, mimic the concept that more guns will lead to less violence, that if everyone were carrying a gun, criminals would be too scared to commit crimes. The more is less philosophy. This doesn’t square with reasonable logic or the facts. â€Å"Whenever you have more guns in a society, you’re going to have more gun violence, period†. The State of Texas is known, quite deservedly, as having an open policy regarding guns. Texas citizens are allowed to carry concealed handguns once completing licensing requirements. Then Governor, George W. Bush signed a law that specifically permits Texans to carry guns in church, the most sacredly peaceful of all places. In 2002, the Violence Policy Center conducted a study regarding concealed guns in Texas and found that, among other disturbing revelations, from 1996 to 2001, â€Å"concealed handgun license holders in Texas were arrested for weapon-related offenses at a rate 81 percent hi gher than that of the state’s general population aged 21 and older†. Lawmakers in Texas responded immediately to this situation by passing legislation that forbids the release of gun-related information.

Colombia population Assignment Example | Topics and Well Written Essays - 250 words

Colombia population - Assignment Example The researches also explore the existence of Asian and Chinese ancestry in Colombian population, though its percentage is almost negligible. Consequently, combination of indigenous and Asian population makes less than 2% of total present population of the country. Somehow, it is estimated that European Amerindians, called Mestizo, make up three fifth of the Colombian population followed by Whites, and the European-Africans called Mulatto, percentage of which is one fifth and one seventh of total population respectively. (essortment.com). It is therefore Colombian culture is viewed as the amalgamation of several sub-cultures on the basis of origin, race, ethnicity, region and religion. An overwhelming majority (i.e. 90%) is Roman Catholic, while Protestants, Jews and Muslims are also the part of the population of the country. Urbanization had been in vogue in Colombia by the last decade of twentieth century; consequently over three fourth population lives in cities now. Nearly 5% population consists of elderly citizens (i.e. over 65 years), while one third of Colombians are under 15 years of age. Hence, nearly two fifth of the total population consists of non-productive individuals, while Almost 91% population consists of literate individuals. (Encyclopedia of Nations) Life expectancy is estimated to be 70 and 77 years for males and females respectively, where approximately one sixth of the total population is leading life below the poverty line determined by the UN experts. Though Colombia had won freedom from Spain in July 1810, yet Spanish Laws are followed at political and social forums by the executive, legislature and judiciary. Colombia is a peaceful state, though it undergoes two international disputes; one with the neighboring country Venezuela on the Venezuela Gulf, and the other with Nicaragua over Archipelago de San Andres y Providencia and Quita Sueno

Snow White Gender Roles Essay Example for Free

Snow White Gender Roles Essay The story of Snow White begins as all other fairy tales. The lovely queen bares a beautiful little girl but doesn’t get the chance to see her grow up. Snow Whites father remarried a beautiful woman and she just knew she was the most beautiful woman ever. Snow White became older and her beauty began to show more and more as the days went by, more beauty then the queen had. Of course the queen became very upset with this and ordered that Snow White was killed so that she can take back her place as the prettiest in the land. The hunter found Snow White in the woods but he couldn’t kill her. He told her to run away and to never come back home and gave the queen a pig’s heart instead. Snow mad her way to a little cottage and stayed there until the queen found out what happened she found her and poisoned her. End the end the queen died and Snow was saved by her prince and rode off into the sunset. Now in this story there are many males’ roles and only two females and they have many roles they each portray in a fairy-tale. Snow White’s gender roles included; the evil queen, the hero, and the damsel in distress. The queen is usually mean throughout the entire story, but in this one she wasn’t always this way. When snow white was little the queen was a somewhat nice/decent person until she Johnson pg.2 realized her step daughter looked better than her. Now in reality this is possible maybe not in the since of the step mother killing the child but getting rid of them. They more envy she gives off the more disturbing she becomes because she is no longer focused on her on wellbeing but hurting someone else. Sometimes females get so carried up with what other girls are doing trying to make them look bad but they forget all about taking care of themselves. The queen thought that killing snow white would make her life easier but it only got worse every time she tried until she met her death. Women get to the point where trying to make someone else suffers and end being the one hurt in the end because they put too much effort. The hero in this story would be of course the handsome prince who saves little snow white and brings her back to life. In reality a woman’s hero is not necessarily someone who saves our live but the one who is there in our time of need. The prince knew nothing of snow white until he seen her in the glass coffin. He only shows up when she needs help kind of like now when a woman is need sometimes a nice man just comes along to help and to make our day better. The seven dwarfs were like family to snow. They gave her somewhere to stay and food to eat as long as she does the chores. In life if you have an issue there is always a family member that will take you and help you out through those hard times. Now as far as snow white herself would be the damsel in distress. A beautiful young lady who has someone out to get her but then is rescued by the man of her dreams. In her role there is nothing she can do except run away and let other want to they just were never taught to do so. A royal persons role in life is stand there give orders and to look nice. Therefore they don’t learn the basic roles of survival. So with the descriptions of all the characters we now see that the role of the men in this story is to protect Johnson pg. 3 roles of the women were to look pretty and do no outside work. The narrative’s point of view of snow white was kind of hard to understand but as I continued to read I understood exactly what he/she was trying to say. The witch from the narrator’s view was that she grew to be so evil is because snow became so beautiful so fast, she thought that everyone else would forget all about her and that she would never be loved again. The more the story went on the more jealous the queen got. It even got to the point to where she changed her identity just to set snow up for death. The narrator makes the queen seem like the absolute worst person on earth but she actually is just like any other woman who felt someone is threating her territory and took action to stop it. Snow White is supposed to be the typical princess who picks out the pretty dresses and waits for her handsome prince to come sweep her off her feet. The narrator describes her as the princess who has to work for what she wants. Princesses don’t run away from the castle because their step mother is trying to kill them. Snow had to hide herself in order to live. She had to find a home, food, and some way to support her until she got on her feet or found the prince she’s been looking for. The narrator described snow as a hard working young lady. She cooked, cleaned, and with the help of the animals she even redecorated the dwarf’s home. The prince in the narrator’s point of view is the one who knew what he was looking for he just didn’t know where to look for it until that day he found the little house sitting in the woods not knowing that he would find the love of his life lying in a glass casket. Although he wasn’t talked about much in this story, the narrator viewed him as brave young man who saved the most fairly of them all, and he was. Now the dwarfs in the narrator’s point of view were Johnson pg. 4 snow’s little helpers. Even though she found them first and kind of took over their home, they were still willing to let her in. They were sort of like her foster parents, how they looked after her and cared for her. Snow White has many descriptions on the actions that both sex in the story. For instance when the prince found snow she wasn’t in your typical big puffy ball gown dancing around the room with other women and she just so happen to stand out him. She was lying dead in a coffin made of glass and he fell in love with her there. When someone actually thinks about a prince finding his princess they don’t see him randomly going into the woods to find a coffin with a beautiful young lady lying their lifeless. She is supposed to be alive waiting on him to come to her home and take her as his wife. Princesses are to dressed in the most exquisite dresses and the long hair flowing down her back having everything she wants, snow wasn’t like that. Snow had on the simple little dress with short hair and in the story it seems like she didn’t actually get everything she wanted. She went through hell to get the man of her dreams from running from the hunter to the poison apple, even losing her mother when she a little girl. In society today the royal court isn’t really like the story at all. They don’t really have to work or do chores. Snow had to clean up after seven dirty men every day, that’s not a typical princess. Also when the queen dies and the king does remarry he doesn’t just put his child aside and worry only about his new wife. Snow’s father isn’t mentioned in this story really at all as if he just left soon as the mother died. Kind of like now how some kids start off with their father then one day he just up and disappears. The queen hiring someone to kill her stepchild, that Johnson pg. 5 doesn’t happen in the world today. The queen doesn’t really have the power to order someone be killed because it’s the king’s job. Snow found the dwarfs home in the woods and just walked in and started cleaning and eating, basically making herself at home. The dwarf’s come home expecting their home to be exactly the way it was when the left not for it to be cleaned, food cooked and for a strange woman to be in as if she belong there. In society today she would have went to jail for breaking and entering. The roles in this story are completely different not only in the world today, but from any other fairy there is today. The women actually took charge and worked for what they wanted. And as for the men they set back and watch the women proceed through out day to day making sure everything that needs to be done gets done, not your everyday royal family.

HSBC Bank Mortgage Policies Analysis

HSBC Bank Mortgage Policies Analysis INTRODUCTION: Home is the need of every human being and having their own home is dream of every human being. In the United Kingdom price of the houses are very high and it is not possible for every citizen to buy their own home without taking financial help from financial organization like banks or building societies. When bank or a building society helps someone financially by providing loan, so that a citizen is able to buy his/her own home is called mortgage. In other words we can say a mortgage represents a loan on a property or house that has to be paid over a specified period of time. As financial help is always needed for smooth run of ones life so for the convenience of the people there are many financial organizations such as banks help the people financially, who want to buy their own home and property. So mortgage was introduced by the banks, from which people can get financial help so that one is able to buy his/her own home and property. Mortgage system is very popular among the people of the United Kingdom because this is the only way to buy their own property. As we know that the mortgage is that sum of money which is borrowed from the Bank or Building Society for buying a property and that borrowed amount has to be paid back with principle plus interest within fixed time period. Today mortgage has great importance as it is the only way with the help of which people are able to buy their own property. This dissertation report is based on the theory of research over the mortgage system of HSBC Bank and specifying the various strategies and policies of thei r mortgage system. The purpose of this report is to critically evaluate the mortgage system of HSBC Bank. Company Background: HSBC Bank has its headquarters in London. HSBC took its name from the Hong Kong and Shanghai Corporation which was founded in 1865 to finance trade between China and Europe. HSBC is one of the largest banking and financial services organization in the world. HSBC has 8,000 offices globally. HSBC Bank is one of the major clearing banks in the United Kingdom having more assets than any other bank. The business ranges from the traditional High Street roles of personal finance and commercial banking, to private banking, consumer finance as well as corporate and investment banking. HSBC is listed on the stock exchanges of London, Hong Kong, New York, Paris having around 220,000 shareholders in 119 countries and territories. HSBC has 1500 branches in United Kingdom. HSBC Bank plc is incorporated in England and Wales and established at 8 Canada Square, London E14 5HQ which is its Registered Office. This bank is regulated by the Financial Services Authority and is registered in the Financial Services Authority Register with the Registration Number: 114216. HSBC Bank is member of the Financial Ombudsman Scheme. Literature Review: A mortgage is a conveyance of land or an assignment of chattels as a security for payment of a debt or the discharge of some other obligation for which it is given. This is the idea of a mortgage; and the security is redeemable on the payment or discharge of such debt or obligation, any provision to the contrary notwithstanding (Stanley Wilde 1899) Per Lindley MR. The mortgage is derived from the two words i.e. mort and gage which means dead pledge. The mortgage is usually signed by the borrower and agreed before a public notary and is recorded with the County Recorder. In the mortgage system if the mortgagor fails to pay the installment then the lender has right to close out the mortgage and can sale the property to get the payment for future.(Jack P Friedman, 2003 p.173-204) The mortgage is a  loan  to  finance  for the  purchase  of  real estate, with a specified interest rates and fixed payment time period. The  borrower (mortgagor) gives the  lender  (mortgagee) a  lien  on the property  as  collateral  for the loan. People can borrow money to buy a home and pay interest on the mortgage to the lender (Bank or Building Society). The Lender (Bank) uses borrowers property as security for the loan. This term means that if the borrower fails to pay the monthly installment then lender (Bank) may repossess property. An individual can apply for mortgage from any bank like HSBC, Lloyds TSB, Barclays, and Santander or from Nationwide (Building Society) or from Islamic Bank of Britain. The mortgage makes very easier to pay the huge amount in the monthly installment for the fixed time depends on the mortgage plan. (Jack Guttentag, 2004). The mortgage which suits you the best depends on many parameters which mainly include your risk enduring capacity, your personal financial goals and capabilities and your income. In the presence of so many options and offers present in the market it can surely become a daunting task to select the best mortgage option for you. Considering your dilemma we at finance-strategy.com came up with some useful tit bits which when kept in mind can surely help you make a wise decision towards taking a mortgage. An adjustable rate mortgage is perfect for those situations where you have to stay in that house for a short period of time and when the interest rates in the market are low and are expected to stay so too during the coming times. On the other hand a fixed rate mortgage fits those situations where in you decide to won that house for a longer period of time and the interest rates too are very high at the moment with chances of volatility in the near future. A fixed interest cushions you against these turbulent conditions. The advantages and disadvantages of mortgages will surely take us a step closer towards deciding it for sure if taking a mortgage is the best solution for your situation. Advantages: The most important advantage associated with a mortgage is the fact that it allows us to retain the ownership of our property and at the same time helps us in getting financial aid too. There is no need for one to sell or let go of his property to seek some money in exchange. In a mortgage the lender does not receive any share in the ownership of the property but is only entitled to take back the principal amount and the interest accumulated on the principal amount lent by him to you. the lender can only claim ownership on your property in case you default on the repayment schedule. The other benefit associated with mortgage is the fact that the interest payments on the mortgage are tax free in nature. Since the schedules of repayment are pre fixed and decided it allows you to plan your financials and expenses accordingly thereby simplifying the entire process for you. By availing a mortgage you now have access to cash flow which you were not having in normal conditions and can now use it to fulfill your needs and requirements. Disadvantages: The need of depositing collateral as security works out to be the biggest drawback of mortgages. It restricts the kind of people who can avail a mortgage as only home owners or other asset owners can do so. Also, in case that you default on your payment the lender has the right to claim the property deposited by you as collateral and then subsequently sell it off to claim back the loaned amount he had given you. You have to ensure while taking the mortgage that there is a clause mentioned therein that on repayment of the mortgage the lender has to release the ownership title submitted to him by you. The lender as per his convenience can define several events which he mat term as a default and generally includes inability to pay back the loan, bankruptcy, insolvency or any breach in the mortgage agreement. Therefore the risk of you ending up losing your property increases substantially. Repayment Of Mortgages There are two methods of repaying mortgage, one can choose from these two methods according to ones personal circumstances. Capital Repayment: With a capital repayment plan, monthly payment covers the interest charged on mortgage and it also reduces the outstanding balance each month in line with the term selected. With this repayment plan, one can ensure mortgage is fully paid off at the end of the mortgage period. What we get with the repayment option: Interest and capital repaid monthly payment covers the interest and also reduces the total balance outstanding Secure providing all payments are made, the mortgage will be repaid in full at the end of the agreed mortgage term Choose your repayment term up to a maximum of 30 years. Capital repayment is a repayment option on all of our mortgage products fixed rate, tracker and discount mortgages. Interest only: With an interest only option, monthly payment covers only the interest charged on mortgage, freeing up cash to spend elsewhere or to invest to pay off mortgage at the end of the mortgage term. By repaying only the interest on mortgage, monthly repayments are lower than with an equivalent capital repayment mortgage. What we get with the Interest only option: Interest only the monthly payment covers just the interest and the original capital amount borrowed remains outstanding throughout the term of the loan Lower monthly payments because capital is not repayed, monthly payments will be lower than with a capital repayment mortgage Long repayment term up to a maximum of 40 years Lower borrowing limit up to a maximum of 75% of the purchase price or the valuation of property (whichever is lower) Availability Interest only loans are restricted to home buyers or customers remortgaging from a competitor. Not available to existing customers borrowing further funds. Mortgage products of HSBC Bank Fixed Rate Mortgages: Repayments are fixed for the duration of the fixed term, and because it doesnt vary, monthly repayments remain the same regardless of what happens to interest rates HSBC currently offers fixed-rate mortgages over 2 and 5 year periods. At the end of the period mortgage will revert to the HSBC Variable Rate unless borrower decide to move to another product Feature Fixed Rate Interest Type Fixed Interest Calculated Daily Yes Unlimited over payments without incurring a charge No Early repayment charge Yes Extended tie in period No Exit fee No Can loan can be port if a person move home Yes In Fixed Rate Mortgages early repayment charge applies during the fixed rate period, and if we increase our standard monthly payment by more than 20% or repay, by any other method, the whole or any part of the mortgage, over and above your standard monthly payment during your fixed rate period Tracker Mortgages: The tracker interest we pay is an agreed percentage above the Bank of Englands Base rate. As the base rate rises and falls, the tracker will track these changes, and so rise and fall accordingly. This will affect the monthly payments HSBC Tracker mortgages are Lifetime trackers, in that they track the Base rate for the lifetime of the loan. Therefore we do not have to worry about coming to the end of a deal, and subsequently switching, with the associated costs. Should Base rates rise you can select to move to a fixed rate where booking fees may be payable. Feature Fixed Rate Interest Type Variable Interest Calculated Daily Yes Unlimited over payments without incurring a charge Yes Early repayment charge No Extended tie in period No Exit fee No Can loan can be port if a person move home Yes Discount Mortgages: A discount mortgage is a variable rate mortgage that offers an interest rate that is a discount off the HSBC Variable Rate for an agreed period (e.g. 2 years). With a discount mortgage, monthly payments will go up and down as the HSBC Variable Rate rises and falls. The HSBC Variable Rate is a rate that is internally set by HSBC. An early repayment charge applies during the discounted rate period, and if we increase our standard monthly payment by more than 20% or repay, by any other method, the whole or any part of the mortgage, over and above our standard monthly payment during your discounted rate period. Feature Fixed Rate Interest Type Variable Interest Calculated Daily Yes Unlimited over payments without incurring a charge No Early repayment charge Yes Extended tie in period No Exit fee No Can loan can be port if a person move home Yes GOVT STATISTICS: According to the government statistics the Mortgage Rescue Scheme used to monitor the statistics which usually gives information on the number of householders with having the mortgage difficulties. This scheme has two main elements: Government Mortgage to Rent and â‚ ¬Ã‹Å"Shared Equity The figures which are presented by Government Office Region are usually based on this scheme and submitted to Local Government by local authorities and communities. Local authority figures do not contain estimates for missing returns. Information on the local authority response rate is provided alongside the reported figures for each period. Figures for different periods are shown on separate tabs in the workbook. This is under the Ministry of Justice and the council of mortgage lenders. (www.communities.gov.uk/publications/corporate/statistics/mortgagerescuestatistics2010) Mortgage and landlord possession statistics (NS) 13 March 2010 Quarterly National Statistics on possession actions issued in county courts by mortgage lenders and social and private landlords in England and Wales. This is released quarterly by the ministry of justice and in relation with UK statistics authority. Justification: As having the field of banking I am quite interesting in reviewing the different strategies followed by the banks in the various fields. Moreover it is accessible for me to collect the information regarding my topic as my friend is serving for the both banks. From them I can get the required data regarding my dissertation. The reason behind choosing this topic is that I can get a direction for my future perspective by having the detailed study of this topic. RESEARCH QUESTIONS: The most important parts of the research needed to be covered are as follow:- What are the major resemblances among commercial mortgage in the Britain? What are the considerations customers should employ when choosing a mortgage product? RESEARCH OBJECTIVES: The below mentioned aims are set up on the foundation of planned research questions: To study the different mortgage products of HSBC Bank To recognize the important advantages of the HSBC mortgages over the other commercial mortgages system in the country, To discover the suitable measure. RESEARCH METHOD: Research plan is very important the main component of the research method. In this research method we will give the fundamental sketch of complete research scheme. Research method is the basic initiation of the entire research in it will plan that the how and when the research will be completed and what actions are required to accomplish this task.   This section aims to explain the type of research methods that would be used for the analysis of the proposed company. The results of the research would indicate the range of services that need to be offered, and the suitability of these services for the target market.  Moore (2000)  explains how the methods used will be influenced by constraints, such as time and money. It is important to consider all the methods available and choose a method that is most likely to achieve the objective of the research. Inductive and deductive Approach: RESEARCH OPINION: In the research onion is used to define the whole process of research strategy in detail the generic research process â‚ ¬Ã‹Å"onion support the researchers and give them the direction to do work. (Saunders et al, 2000) There are the different layers which represents the following aspects of the Research Methodology. Research Philosophy Research Approach Research Strategy Time Horizons Data Collection Methods Primary and Secondary Research   Primary data is that type of information which is new and that hasnt been used or collected before. On the other hand the secondary data is that information which has been collected earlier, by some other sources for their own purpose and can used by others for their convenience .(Saunders et al. 1997). Secondary research is also very important for the establishment of data and the collection of data for the current issues and this also helps to discover the relevant studies which can be carried in the past time. Advantages and disadvantages of primary and secondary research methods Primary Research Advantages: This can be used by face to face conversation in the form of interviews or by the telephonic interview. This is used by the help of technology by using mobile phones and through internet communication. A large group of people can be cover in many areas. Wider coverage of geographical areas. This method is cheaper one. . Disadvantages: There are problems to prepare it. The Questions put in this are generally easy to answer. Lower response for the historic things. Time consuming. Secondary Research Advantages: This is time saving method. This can be used by any firm for the research. Sometime this depends upon the type of research which has to be conducted, for that case their advantages and disadvantages vary. Probably accurate. Disadvantages The main disadvantage is that there is no up to date and is collected over the time. And there may be changes in that data which has to be updated. Data may be in unsuitable format. The data is free to all and there no competitive advantages the organisation (Ghauri and Gronhaug, 2002) Qualitative and Quantitative Research   The table below outlines the differences between qualitative and quantitative data: Qualitative Quantitative This research is based on words which are expressed in meaning. Based on derived  from numbers and data. Results collected are non-standardized and data require classification into categories and not in the numerical form. Result of collection is in the numerical form and data is standardized. Conceptualism is used for conduct the analysis. Analysis conducted through there is use   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Of diagrams and statistics. (Dey (1993); Healey and Rawlinson (1994), cited in Saunders et al (2003)) SELECTION OF METHOD: As I have the topic of mortgage system it will be suitable for my topic if I will go through mixture of both approaches i.e. both secondary and primary resources. This will be helpful in collecting the relevant data according to the need and will be useful in going to the depth of the research. On my part it is valuable to go through by considering the research onion. Regarding this I will concern both approaches for my research given by (Saunders and Thornhill in 2000). ETHICS: The main source of data collection methods for my research is quantitative method which is useful for collecting the facts and figure for my research. Moreover I have contacts in the both banks for collecting the information. The manager Of HSBC Bank is in contact with me and he agreed to assist me in providing information as per my requirement. In order to make my research more accurate I will use the secondary data and primary data sources as well. By this I can get all the information regarding the mortgage system of the both banks with the required form of data in order to take the comparison of the policies given by the both banks for the mortgage system they provided to their customers. For the guidelines I will do all the work under my supervisor and take suggestion and help of my supervisor time to time to complete my dissertation. SCOPE: The topic of mortgage system has wider scope in the present time as there is a great demand for the mortgage products in the current market position. The theory of my topic is controllable therefore I can do better by keep in mind the wider scope of my study. Even this will help me in future to get the good job in Banking Industry. HSBC Bank Mortgage Policies Analysis HSBC Bank Mortgage Policies Analysis INTRODUCTION: Home is the need of every human being and having their own home is dream of every human being. In the United Kingdom price of the houses are very high and it is not possible for every citizen to buy their own home without taking financial help from financial organization like banks or building societies. When bank or a building society helps someone financially by providing loan, so that a citizen is able to buy his/her own home is called mortgage. In other words we can say a mortgage represents a loan on a property or house that has to be paid over a specified period of time. As financial help is always needed for smooth run of ones life so for the convenience of the people there are many financial organizations such as banks help the people financially, who want to buy their own home and property. So mortgage was introduced by the banks, from which people can get financial help so that one is able to buy his/her own home and property. Mortgage system is very popular among the people of the United Kingdom because this is the only way to buy their own property. As we know that the mortgage is that sum of money which is borrowed from the Bank or Building Society for buying a property and that borrowed amount has to be paid back with principle plus interest within fixed time period. Today mortgage has great importance as it is the only way with the help of which people are able to buy their own property. This dissertation report is based on the theory of research over the mortgage system of HSBC Bank and specifying the various strategies and policies of thei r mortgage system. The purpose of this report is to critically evaluate the mortgage system of HSBC Bank. Company Background: HSBC Bank has its headquarters in London. HSBC took its name from the Hong Kong and Shanghai Corporation which was founded in 1865 to finance trade between China and Europe. HSBC is one of the largest banking and financial services organization in the world. HSBC has 8,000 offices globally. HSBC Bank is one of the major clearing banks in the United Kingdom having more assets than any other bank. The business ranges from the traditional High Street roles of personal finance and commercial banking, to private banking, consumer finance as well as corporate and investment banking. HSBC is listed on the stock exchanges of London, Hong Kong, New York, Paris having around 220,000 shareholders in 119 countries and territories. HSBC has 1500 branches in United Kingdom. HSBC Bank plc is incorporated in England and Wales and established at 8 Canada Square, London E14 5HQ which is its Registered Office. This bank is regulated by the Financial Services Authority and is registered in the Financial Services Authority Register with the Registration Number: 114216. HSBC Bank is member of the Financial Ombudsman Scheme. Literature Review: A mortgage is a conveyance of land or an assignment of chattels as a security for payment of a debt or the discharge of some other obligation for which it is given. This is the idea of a mortgage; and the security is redeemable on the payment or discharge of such debt or obligation, any provision to the contrary notwithstanding (Stanley Wilde 1899) Per Lindley MR. The mortgage is derived from the two words i.e. mort and gage which means dead pledge. The mortgage is usually signed by the borrower and agreed before a public notary and is recorded with the County Recorder. In the mortgage system if the mortgagor fails to pay the installment then the lender has right to close out the mortgage and can sale the property to get the payment for future.(Jack P Friedman, 2003 p.173-204) The mortgage is a  loan  to  finance  for the  purchase  of  real estate, with a specified interest rates and fixed payment time period. The  borrower (mortgagor) gives the  lender  (mortgagee) a  lien  on the property  as  collateral  for the loan. People can borrow money to buy a home and pay interest on the mortgage to the lender (Bank or Building Society). The Lender (Bank) uses borrowers property as security for the loan. This term means that if the borrower fails to pay the monthly installment then lender (Bank) may repossess property. An individual can apply for mortgage from any bank like HSBC, Lloyds TSB, Barclays, and Santander or from Nationwide (Building Society) or from Islamic Bank of Britain. The mortgage makes very easier to pay the huge amount in the monthly installment for the fixed time depends on the mortgage plan. (Jack Guttentag, 2004). The mortgage which suits you the best depends on many parameters which mainly include your risk enduring capacity, your personal financial goals and capabilities and your income. In the presence of so many options and offers present in the market it can surely become a daunting task to select the best mortgage option for you. Considering your dilemma we at finance-strategy.com came up with some useful tit bits which when kept in mind can surely help you make a wise decision towards taking a mortgage. An adjustable rate mortgage is perfect for those situations where you have to stay in that house for a short period of time and when the interest rates in the market are low and are expected to stay so too during the coming times. On the other hand a fixed rate mortgage fits those situations where in you decide to won that house for a longer period of time and the interest rates too are very high at the moment with chances of volatility in the near future. A fixed interest cushions you against these turbulent conditions. The advantages and disadvantages of mortgages will surely take us a step closer towards deciding it for sure if taking a mortgage is the best solution for your situation. Advantages: The most important advantage associated with a mortgage is the fact that it allows us to retain the ownership of our property and at the same time helps us in getting financial aid too. There is no need for one to sell or let go of his property to seek some money in exchange. In a mortgage the lender does not receive any share in the ownership of the property but is only entitled to take back the principal amount and the interest accumulated on the principal amount lent by him to you. the lender can only claim ownership on your property in case you default on the repayment schedule. The other benefit associated with mortgage is the fact that the interest payments on the mortgage are tax free in nature. Since the schedules of repayment are pre fixed and decided it allows you to plan your financials and expenses accordingly thereby simplifying the entire process for you. By availing a mortgage you now have access to cash flow which you were not having in normal conditions and can now use it to fulfill your needs and requirements. Disadvantages: The need of depositing collateral as security works out to be the biggest drawback of mortgages. It restricts the kind of people who can avail a mortgage as only home owners or other asset owners can do so. Also, in case that you default on your payment the lender has the right to claim the property deposited by you as collateral and then subsequently sell it off to claim back the loaned amount he had given you. You have to ensure while taking the mortgage that there is a clause mentioned therein that on repayment of the mortgage the lender has to release the ownership title submitted to him by you. The lender as per his convenience can define several events which he mat term as a default and generally includes inability to pay back the loan, bankruptcy, insolvency or any breach in the mortgage agreement. Therefore the risk of you ending up losing your property increases substantially. Repayment Of Mortgages There are two methods of repaying mortgage, one can choose from these two methods according to ones personal circumstances. Capital Repayment: With a capital repayment plan, monthly payment covers the interest charged on mortgage and it also reduces the outstanding balance each month in line with the term selected. With this repayment plan, one can ensure mortgage is fully paid off at the end of the mortgage period. What we get with the repayment option: Interest and capital repaid monthly payment covers the interest and also reduces the total balance outstanding Secure providing all payments are made, the mortgage will be repaid in full at the end of the agreed mortgage term Choose your repayment term up to a maximum of 30 years. Capital repayment is a repayment option on all of our mortgage products fixed rate, tracker and discount mortgages. Interest only: With an interest only option, monthly payment covers only the interest charged on mortgage, freeing up cash to spend elsewhere or to invest to pay off mortgage at the end of the mortgage term. By repaying only the interest on mortgage, monthly repayments are lower than with an equivalent capital repayment mortgage. What we get with the Interest only option: Interest only the monthly payment covers just the interest and the original capital amount borrowed remains outstanding throughout the term of the loan Lower monthly payments because capital is not repayed, monthly payments will be lower than with a capital repayment mortgage Long repayment term up to a maximum of 40 years Lower borrowing limit up to a maximum of 75% of the purchase price or the valuation of property (whichever is lower) Availability Interest only loans are restricted to home buyers or customers remortgaging from a competitor. Not available to existing customers borrowing further funds. Mortgage products of HSBC Bank Fixed Rate Mortgages: Repayments are fixed for the duration of the fixed term, and because it doesnt vary, monthly repayments remain the same regardless of what happens to interest rates HSBC currently offers fixed-rate mortgages over 2 and 5 year periods. At the end of the period mortgage will revert to the HSBC Variable Rate unless borrower decide to move to another product Feature Fixed Rate Interest Type Fixed Interest Calculated Daily Yes Unlimited over payments without incurring a charge No Early repayment charge Yes Extended tie in period No Exit fee No Can loan can be port if a person move home Yes In Fixed Rate Mortgages early repayment charge applies during the fixed rate period, and if we increase our standard monthly payment by more than 20% or repay, by any other method, the whole or any part of the mortgage, over and above your standard monthly payment during your fixed rate period Tracker Mortgages: The tracker interest we pay is an agreed percentage above the Bank of Englands Base rate. As the base rate rises and falls, the tracker will track these changes, and so rise and fall accordingly. This will affect the monthly payments HSBC Tracker mortgages are Lifetime trackers, in that they track the Base rate for the lifetime of the loan. Therefore we do not have to worry about coming to the end of a deal, and subsequently switching, with the associated costs. Should Base rates rise you can select to move to a fixed rate where booking fees may be payable. Feature Fixed Rate Interest Type Variable Interest Calculated Daily Yes Unlimited over payments without incurring a charge Yes Early repayment charge No Extended tie in period No Exit fee No Can loan can be port if a person move home Yes Discount Mortgages: A discount mortgage is a variable rate mortgage that offers an interest rate that is a discount off the HSBC Variable Rate for an agreed period (e.g. 2 years). With a discount mortgage, monthly payments will go up and down as the HSBC Variable Rate rises and falls. The HSBC Variable Rate is a rate that is internally set by HSBC. An early repayment charge applies during the discounted rate period, and if we increase our standard monthly payment by more than 20% or repay, by any other method, the whole or any part of the mortgage, over and above our standard monthly payment during your discounted rate period. Feature Fixed Rate Interest Type Variable Interest Calculated Daily Yes Unlimited over payments without incurring a charge No Early repayment charge Yes Extended tie in period No Exit fee No Can loan can be port if a person move home Yes GOVT STATISTICS: According to the government statistics the Mortgage Rescue Scheme used to monitor the statistics which usually gives information on the number of householders with having the mortgage difficulties. This scheme has two main elements: Government Mortgage to Rent and â‚ ¬Ã‹Å"Shared Equity The figures which are presented by Government Office Region are usually based on this scheme and submitted to Local Government by local authorities and communities. Local authority figures do not contain estimates for missing returns. Information on the local authority response rate is provided alongside the reported figures for each period. Figures for different periods are shown on separate tabs in the workbook. This is under the Ministry of Justice and the council of mortgage lenders. (www.communities.gov.uk/publications/corporate/statistics/mortgagerescuestatistics2010) Mortgage and landlord possession statistics (NS) 13 March 2010 Quarterly National Statistics on possession actions issued in county courts by mortgage lenders and social and private landlords in England and Wales. This is released quarterly by the ministry of justice and in relation with UK statistics authority. Justification: As having the field of banking I am quite interesting in reviewing the different strategies followed by the banks in the various fields. Moreover it is accessible for me to collect the information regarding my topic as my friend is serving for the both banks. From them I can get the required data regarding my dissertation. The reason behind choosing this topic is that I can get a direction for my future perspective by having the detailed study of this topic. RESEARCH QUESTIONS: The most important parts of the research needed to be covered are as follow:- What are the major resemblances among commercial mortgage in the Britain? What are the considerations customers should employ when choosing a mortgage product? RESEARCH OBJECTIVES: The below mentioned aims are set up on the foundation of planned research questions: To study the different mortgage products of HSBC Bank To recognize the important advantages of the HSBC mortgages over the other commercial mortgages system in the country, To discover the suitable measure. RESEARCH METHOD: Research plan is very important the main component of the research method. In this research method we will give the fundamental sketch of complete research scheme. Research method is the basic initiation of the entire research in it will plan that the how and when the research will be completed and what actions are required to accomplish this task.   This section aims to explain the type of research methods that would be used for the analysis of the proposed company. The results of the research would indicate the range of services that need to be offered, and the suitability of these services for the target market.  Moore (2000)  explains how the methods used will be influenced by constraints, such as time and money. It is important to consider all the methods available and choose a method that is most likely to achieve the objective of the research. Inductive and deductive Approach: RESEARCH OPINION: In the research onion is used to define the whole process of research strategy in detail the generic research process â‚ ¬Ã‹Å"onion support the researchers and give them the direction to do work. (Saunders et al, 2000) There are the different layers which represents the following aspects of the Research Methodology. Research Philosophy Research Approach Research Strategy Time Horizons Data Collection Methods Primary and Secondary Research   Primary data is that type of information which is new and that hasnt been used or collected before. On the other hand the secondary data is that information which has been collected earlier, by some other sources for their own purpose and can used by others for their convenience .(Saunders et al. 1997). Secondary research is also very important for the establishment of data and the collection of data for the current issues and this also helps to discover the relevant studies which can be carried in the past time. Advantages and disadvantages of primary and secondary research methods Primary Research Advantages: This can be used by face to face conversation in the form of interviews or by the telephonic interview. This is used by the help of technology by using mobile phones and through internet communication. A large group of people can be cover in many areas. Wider coverage of geographical areas. This method is cheaper one. . Disadvantages: There are problems to prepare it. The Questions put in this are generally easy to answer. Lower response for the historic things. Time consuming. Secondary Research Advantages: This is time saving method. This can be used by any firm for the research. Sometime this depends upon the type of research which has to be conducted, for that case their advantages and disadvantages vary. Probably accurate. Disadvantages The main disadvantage is that there is no up to date and is collected over the time. And there may be changes in that data which has to be updated. Data may be in unsuitable format. The data is free to all and there no competitive advantages the organisation (Ghauri and Gronhaug, 2002) Qualitative and Quantitative Research   The table below outlines the differences between qualitative and quantitative data: Qualitative Quantitative This research is based on words which are expressed in meaning. Based on derived  from numbers and data. Results collected are non-standardized and data require classification into categories and not in the numerical form. Result of collection is in the numerical form and data is standardized. Conceptualism is used for conduct the analysis. Analysis conducted through there is use   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Of diagrams and statistics. (Dey (1993); Healey and Rawlinson (1994), cited in Saunders et al (2003)) SELECTION OF METHOD: As I have the topic of mortgage system it will be suitable for my topic if I will go through mixture of both approaches i.e. both secondary and primary resources. This will be helpful in collecting the relevant data according to the need and will be useful in going to the depth of the research. On my part it is valuable to go through by considering the research onion. Regarding this I will concern both approaches for my research given by (Saunders and Thornhill in 2000). ETHICS: The main source of data collection methods for my research is quantitative method which is useful for collecting the facts and figure for my research. Moreover I have contacts in the both banks for collecting the information. The manager Of HSBC Bank is in contact with me and he agreed to assist me in providing information as per my requirement. In order to make my research more accurate I will use the secondary data and primary data sources as well. By this I can get all the information regarding the mortgage system of the both banks with the required form of data in order to take the comparison of the policies given by the both banks for the mortgage system they provided to their customers. For the guidelines I will do all the work under my supervisor and take suggestion and help of my supervisor time to time to complete my dissertation. SCOPE: The topic of mortgage system has wider scope in the present time as there is a great demand for the mortgage products in the current market position. The theory of my topic is controllable therefore I can do better by keep in mind the wider scope of my study. Even this will help me in future to get the good job in Banking Industry.