Liquidity risk, conduit, and securitization issues Essay Example

Liquidity risk, conduit, and securitization issues Essay Underestimating the importance of liquidity risk is one of the important facts behind today financial crisis. In the past years liquidity risk has not been taken into account in stress testing, funding strategies, and portfolio management (Wehinger 2008). In large and complex institutions, benefits as well as challenges arises with a potential for internal liquidity provision to seem adequate but with harder to assess funding risks at the aggregate level. According to Wehinger (2008), while designing funding strategies, risks under stressed market conditions with sever liquidity shortages should be included for secured funding. Bank should also consider about securitization of assets and the use of conduits as those can be subject to reputation risks. Central Bank should provide clear specification on the conditions under which it would work as a lender of last resort and Central Bank should consistently communicate those rules with the commercial banks. And most importantly, risk management of bank should take into account the fact that, there is a chance of liquidity to turn into insolvency if liquidity problems weigh on investors confidence and weaken the companys equity base. In the quarterly bulletin of Bank of England (2009), it has been mentioned that overall liquidity conditions have yet to normalise to any significant degree. In order to meet banks longer terms liquidity demands, UK government already extended the term of Bank of Englands Permanent Discount Window Facility. According to the report on Enhancing Market and Institutional Resilience by Financial Stability Forum (FSF) 2008, International standard setters should enhance accounting, disclosure and audit guidance for valuations. Firms valuation processes and related supervisory guidance should be enhanced. We will write a custom essay sample on Liquidity risk, conduit, and securitization issues specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Liquidity risk, conduit, and securitization issues specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Liquidity risk, conduit, and securitization issues specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Apart from that, reasonableness and consistency tests should be applied for valuation and price verification. In June 2008, The Basel Committee on Banking Supervision published ten principles related to Supervisory guidance for assessing banks financial instrument fair value practices. Those principles are influenced by considering value measurement and modelling challenges faced by banks during the present financial crisis. The main objectives behind publishing those principles are to help banks supervisor while assessing banks valuation processes and to promote improvement in banks risk management and control processes. One of the main amplifiers of the crisis was the lack of transparency regarding the risk profile of institutions and structured products. Wellink, 2009. According to the Basel Committee on Banking Supervision (2009), economic capital model of a bank should be effectively documented and integrated in a transparent way and senior management should consider that model seriously while making business decision and for risk management of bank. For this purpose, bank should emphasize on achieving robust estimates of stand-alone risk on absolute basis and developing the flexible capacity for enterprise-wide stress testing. In order to have transparency in securitisation processes and markets, market participants and securities market regulator should work together to expand information on securitised products and their underlying assets (Financial Stability Forum, 2008). Reform of rating processes by Credit Rating Agencies can also enhance the transparency (US Presidents Working Group on Financial Markets, 2008). PWG (2008) suggests forming a private sector group to ensure the integrity and transparency of reports. Third Pillar of Basel II framework can help Bank to increase transparency (Wellink, 2009 PWG, 2008). Pillar three of Basel II mainly focused on disclosures related to securitisation, off-balance-sheet exposures and trading activities. This paper presents a review of the financial crisis on banking sector and implication of the bank management to cope with this crisis. Several reforms has been suggested in this paper following Institute of International Finance (IIF), Basel Committee on Banking Supervision, Financial Stability Forum (FSF), Bank for International Settlement (BIS), US Presidents Working Group on Financial Markets. Some of the recommendations are already being implemented. However, the recent initiatives at the G-20 level are being considered as a first step towards encompassing reforms to help cope with present financial crisis (Wehinger, 2008). Wellink (2009) also support the initiatives taken by Basel Committee and hope that those initiatives should limit the risk that weaknesses in banks amplify shocks between the financial and real sectors.

Homer Wells Moral Progression essays

Homer Well's Moral Progression essays Homer Wells, the main character of the movie Cider House Rules, faces many moral dilemmas as his life progresses. Homer, who was an orphan at St. Claude's as a child, was taken under the wing by the head doctor at the orphanage, Dr. Wilbur Larch. Dr. Larch teaches Homer, instructing him to be a doctor, just like himself. As Homer becomes a full fledged physician at St. Claude's, he decides to not perform abortions. He thinks that each life is precious, just like his own, and is thankful that his mother decided to put him up for adoption instead of aborting him. As Homer leaves the orphanage and comes out into the world, he is needs to decide if his position on abortion is what is for the best. In the beginning, Homer is against abortion, but in the end, he will challenge his moral beliefs and perform what is asked of him. Homer is taught by Dr. Larch the method to perform abortions, but Homer decides that he will never perform it. Afterwards, a young lady, Candy Kendall, accompanied by her air force officer boyfriend, Wally Worthington, arrive at the orphanage, requesting for an abortion. Homer will not perform the abortion, because he believes that it is unethical, and is against his moral thinking. Homer declines the job, compelling Dr. Larch to perform it. During the abortion, Homer talks to Wally, convincing him that Candy will be in good hands, and in good health. After the procedure, Homer decides to leave the orphanage to experience life outside St. Claude's. He asks Wally for a lift in his automobile, and he obliges. Homer, having almost no money, is offered a job at an apple orchard owned by the Worthington family, and he graciously accepts it. He gets acquaint ed with the other orchard workers, especially Mr. Rose, and his daughter, Rose Rose. After a few months of working alongside with them, Homer discovers that Rose Rose is pregnant. After a confrontation with her, they learn that the father of the unborn baby is he...

Classical music of 20th and 21st Personal Statement

Classical music of 20th and 21st - Personal Statement Example This "Classical music of 20th and 21st" outlines the development of classical music in this period of time and composers who influenced it the most. Arnold Schoenberg is a 20th century avant-garde composer that would go on to influence John Cage. His contributions to contemporary composition and music are well regarded. In terms of the questions of tonality and consonance, Schoenberg has a number of periods that must be considered. In his early compositional periods, he was more aligned with tonality, albeit in an experimental context. As he moved on to his later periods after 1908, he gradually adopted a more avant-garde style that embraced consonance (Kamien 2008). One such example of compositions in this later period is ‘Pierrot Lunaire.’ Similar to Arnold Schoenberg, Charles Ives began his compositional journey producing works with traditional tonal qualities. His work in such early compositions as ‘Variations on America’ demonstrates this tonal concern. In Ives’ middle and later periods he gradually adopted a more experimental style based on atonality and experimentation. His work in ‘Symphony 2’ demonstrated a shift in this direction that would later be more fully realized in his mature work. As his work further developed in ‘The Unanswered Question’ and ‘Three Places in New England’ he adopts a nearly entirely atonal sound. These works build towards what traditional classical music would realize in a melodic climax, but rather than delivering this, Schoenberg returns to atonal dissonance. Igor Stravinsky Russian composer Igor Stravinsky explored tonality in a variety of his compositions. Among the composers examined, he is perhaps the most renowned for the fantastical nature of the reaction to his famed composition ‘The Rite of Spring’. The composition, written for a 1913 ballet was such an avant-garde experience that the crowd rioted. The composition itself, while exploring traditional tonality in segments, is largely an atonal work. Some of Stravinsky’s other famed compositions demonstrate a similar concern with these challenging elements of sound. For instance, his work on ‘Histoire du soldat’ demonstrated similar concerns with consonance. Stravinsky’s late period work would explore 18th century classical styles, yet reinterpret them with his characteristic experimental elements, meshing both tonality and consonance. Sergei Prokofiev Similar to Stravinsky, Prokofiev was a Russian composer who developed a number of works for the ballet. To a great degree his works reflected a similar concern

Prmary Education Themed Cross Curricular Topics Essay

Prmary Education Themed Cross Curricular Topics - Essay Example Beyond that, the resemblance is superficial. For example, in using Tropical Rainforest, where motivational speakers tend to be rather general about which attributes can be improved, accounts in terms of deliberate practice are limited to domains of expertise with reproducible superior performance (Ericsson, 1996) The complexity of these acquired mechanisms is consistent with the finding that not even the most "talented" can reach an international level of performance in less than a decade of dedicated practice. In music, the Tropical Rainforest is a great topic because, most certainly in absolute music, this problem does not arise, at least not in the same way. Pure music is not a representation of anything; it does not attempt to represent a person, place or thing. It represents only the specific, concrete, particular values it embodies by virtue of its unique nature (Haydon, 2004). The individual's enjoyment of music, therefore, depends upon his capacity to respond adequately to the specifically musical values embodied in the particular musical composition. It depends upon sensitivity to sound, and especially to sound presented in a tonal rhythmic pattern. In the processes of individual, social, and cultural evolution, the sense of hearing has come to provide a channel for a unique type of enjoyment--the enjoyment of music. The physical laws governing the vibratory motions of pulsating bodies resulting in sounds and the physio-psychological laws governing the response of the organism to these physical "disturbances in the air" known as sounds, have given rise to a remarkable and unique form of art--the art of music. But the enjoyment of music involves more than merely auditory sensation; it involves tactile, kinaesthetic, and somatic responses that reach throughout the whole organism, manifested in glandular changes, bodily movements and attendant emotional reactions (Mowrer, 2000). Because music sounds the way moods or emotions feel, because auditory patterns of sound get translated into patterns of feeling, music becomes a deeply moving art. The National Primary Strategy The level 4 Key Stage 2Strategy of the National Primary Strategy, launched in 2001, was less prescriptive and sought to help teachers understand the implications for good practice, rather than telling them how to 'teach by numbers' (Carnie et al, 1996). Since 2002, there is a new emphasis on innovation, networks, and 'value added' data on school performance. According to the Education Department, the objective of the said strategy is to reform the teaching methods for the primary school and this is called the Excellence and Enjoyment. The term enjoyment is defined as significant in highlighting creativity and assessment for learning (rather than assessment of learning). 'Transformation', rather than simply 'reform', had become the keynote of change, which now included an emphasis on structural change in the way schools are organized (Carnie, 2002). The Education Department had focused its attention to teaching and learning along with the need for system-wide reform. There are Core-Principles that set out the learner-centered method to education that most teachers and researchers would support. The emphasis had now moved to engaging pupils in powerful, social learning experiences in schools where the leadership is focused on teaching and lear

The sponsorship strategy for the BFI's London Film Festival Essay

The sponsorship strategy for the BFI's London Film Festival - Essay Example This research will begin with the statement that the London Film Festival is an annual event organised by the British Film Institute (BFI). It is the largest public film event in the UK and it attracts over 300 features, documentaries and short films from numerous countries around the world. The London Film Festival has a rich history that goes back to 1953 and it has a reputation that is connected to the Crown and other credible institutions in the UK. The London Film Festival provides the red-carpet treatment for stars and brings together important personalities and leaders in the film industry in the UK and beyond. The event comes with a large array of programmes and activities that bring together stakeholders in the film industry. This includes public forum, education events, lectures, question-and-answer sessions with actors and authorities in the film industry. The highlights of each year’s events are the awards for the best films in various categories. This year's editi on of the BFI London Film Festival is scheduled to be done between the 17th and 31st of October, 2014. The main objectives of this year's project include the following: Growing the film industry in London; Maximise investments into London and the UK through the film industry; Sustain and improve the London film culture; Promote London as a global city through the film industry; Present London's strategic priorities to the world by filming and broadcasting it.

Airasia Such As Computer Reservation System Information Technology Essay

Airasia Such As Computer Reservation System Information Technology Essay AirAsia is one of the Malaysia Airline that established for everyone who dreamed of making flying to reach ones destination. Since 2001, AirAsia has been expanding rapidly with the largest low fare airlines in which everyone can travel with affordable price and AirAsia has also awarded for the world best low cost airline in year 2010 (Miller, P., 2010) [Online]. Lets put it in this way with a simple slogan, Now Everyone Can Fly, Malaysias AirAsia has successfully carried out and placed in customers mind with the largest low-cost flying trip and largest customer base. Go Holidays offered by AirAsia at the low-cost flying trip, whereby they also offer hostel, hotels, car rental and holiday packages at discounted rates. Booking or reservation of airplane tickets can be done at www.airasia.com. Besides, AirAsia provide services such as Low Cost Carrier Terminal (LCCT) and AirAsias bus travel to KLIA at the lower cost. According to The Star report under the business section, AirAsia is now announced that several airports in Malaysia and regional countries will offered a self check-in service and for more convenience, customers can also use web-based check-in service (The Star, 2010) [Online]. In the year ended 2009, AirAsia reported a net profit of RM549.1million, a rise by 11% compared to the loss of RM 496.6 million incurred during 2008 (The Star, 2010) [Online]. 1.2 Types of Information System There are few types of Information System were in use in AirAsia, such as Computer Reservation System (CRS), Customer Relationship Management (CRM), Enterprise Resource Planning (ERP) System, and Advanced Planning and Scheduling (APS) system. CRS is a computer system used in travel industry that allowed storing, retrieving data and conducting transactions. This system was created by airlines. AirAsia used this system is to allow users to access and check seating availability, flight schedules, airline fare, booking reservations and generating tickets. CRM is a set of applications that give companies to gain insights into customers changing needs, wants, and behaviors in order to better serve them (Haag and Cummings, 2008). This applications help AirAsia to analyse customers contact, so that it enable AirAsia to maintain and update electronic customer profile. Moreover, CRM also help to update online answers at AirAsias web page frequently asked questions (FAQs) about their services, such as booking, online payment and etc. ERP is the information systems to integrate the data from different functional areas of a business, such areas as planning, manufacturing, order entry, inventory management and many more (Oz, 2008). This system also help in planning and allow companies to operate more efficiency because it avoid duplication of information and avoid rework (Oz, 2008). AirAsia uses ERP system is to capturing daily operations transactions, manage its supply chain, and also helping to save its daily operational costs as well as to increase the operational performance to become more efficiency (Microsoft Press Pass, 2005). APS is a type of system also known as manufacturing management process. This system is used for supply chain planning in the sense that it uses information from ERP for planning and scheduling operations (Muzumdar, no date)[Online]. APS also can be used to tracks costs based on the activities in the production of manufactured goods. However, due ERP system does not provide for better supply chain management to analyses the flexibility and intelligence required implemented by AirAsia. AirAsia therefore use APS system helps to improve AirAsias strategic and operational performance, classifies and clusters orders from customer, and checks resources availability. 2.0 Benefits from System Adoption 2.1 Customer Relationship Management (CRM) A good CRM is important for AirAsia to success in airline industry. With CRM, AirAsias staff will easily understand and satisfy customers needs and wants. The benefits of CRM are such as: (i) Reduce Operating Costs: By using CRM system, work and activities done by AirAsia will become more systematic and coordinated. This will help AirAsia to eliminate waste of funds, such as AirAsia use web or e-mail to handle some customers queries or problems instead of through a call centre. This results labour cost will be reduced and business operations will become more effective and efficient. CRM also can help AirAsia to organise customer communications if AirAsia facing difficulties, such as struggles to maintain multiple mailing lists for different groups of customers. (ii) Development of Better Relations with Customers: Using CRM helps AirAsia to develop their customers relationships. CRM systems provide reliable sources to deal with AirAsias customers in sales, marketing, and service to optimize revenue, customer satisfaction, and customer retention (Laudon and Laudon, 2010). The benefit of using CRM is because this system provides a better service to customers. For example, on the first page of the AirAsia Website, which has stated the member log in button and this has proven that AirAsia always set their customers as the first priority in every consideration. The benefits of becoming AirAsia members are information provided to customers will always ones step ahead from others (ie. promotional booking offers, news updates, and so on). All customers particular data are fully secured and will be guaranteed for personalization from AirAsia. (Azleen Ilias et al., 2009)[Online] 2.2 Enterprise Resource Planning (ERP) System There are many different benefits and reasons why AirAsia choose and deploy ERP systems. These are as follow: (i) Help reduce operating costs:   The ERP systems enable to help AirAsia to reduce operating cost and its a benefit when AirAsia is running company analytics.   The major benefits of ERP are improved the coordination of AirAsias process into one streamlined process where all information can be accessed across departments through a single enterprise wide information network (Anthony, 2005)[Online].  Additional benefit from implementing ERP systems are reduced operating cost, such as lower the cost of production, marketing, inventory control, and help desk support (Anthony, 2005)[Online]. (ii) Facilitate Day-to-Day Management: Facilitating day-to-day management activities is also one of the benefits from ERP systems. In encourages the establishment of backbone data warehouses (Anthony, 2005)[Online]. The implementations of ERP systems allows employees to access real time information and this helps with research, decision making, and managerial control (benefitsoferp, 2010)[Online]. Besides, it also can perform activity based costing and helps AirAsia to track activities actual costs (Anthony, 2005)[Online]. 2.3 Advanced Planning and Scheduling (APS) There are certain benefits which can be found in APS system. These are as follow: (i) Visibility Across The Whole Supply Chain: The benefit of using APS system is visibility across the whole supply chain. The supply chain management system will ensure each party, (ie. suppliers and customers) works together in integration in terms of cross-functional scheduling and planning. So that AisAsia will have better connectivity across the supply chain (Muzumdar, no date)[Online]. (ii) Optimizing profit management (Anon, 2010)[Online]: The most influencing factor in AirAsias strategy is the price, this is because the airline competing in the low cost market. Trend analysis also benefited in that the APS system is designed to Maximised revenue of AirAsia by the existing YMS system and optimizing price strategy. On the other hand, AirAsias operational cost will be minimized by APS system by using YMS system to generate information to further improve AirAsias plan and schedule for the facilities needed (Muzumdar, no date). The integration of YMS system into the APS system ensures profit optimization. 3.0 Pitfalls to Avoid 3.1 Customer Relationship Management (CRM) Although CRM systems have brought benefits to AirAsia, but there are still some pitfalls exist. AirAsia therefore should avoid these pitfalls otherwise a significant effect will cause AirAsia improperly operate. Listed below are the pitfalls need to avoid. (i) Inadequate training on the CRM software (Anon, 2010)[Online]: Anytime when a new system is introduced, employees feel lack of confident to use it and they will always try to avoid from using it. Many training consultants offered by CRM software vendors visit AirAsia during their rollout phase and for refresher sessions (Anon, 2010)[Online]. This system is highly encourage to be provided as adequate training will be given to employees and money saved in the long run even-though it is costly and time consuming (Cost Vs Benefits analysis). (ii) Misunderstanding customer needs (Anon, 2010)[Online]: Sometimes, unnecessary time taken to service the customers and not giving good services will affect AirAsias image. AirAsia therefore should respond to customers when it is needed. For example, in the CRM process, CRM manager should arrange and reply the customers queries that ask for the essential information through easy-to-use access. At the same time, get feedback from customers is encouraged so that able to improve companys CRM system in future. 3.2 Enterprise Resource Planning (ERP) System There are some common pitfalls to avoid when AirAsia implementing ERP systems. These are as follows: (i) Lack of Time and Manpower Required For Implementation (Mutt, 2010)[Online]: When there is a shortage of time and employees required for implementation, AirAsia may over burden the employees with their regular work by giving them extra responsibilities on ERP implementation (Mutt, 2010)[Online]. This will lead employees could not perform the ERP software properly as they are already over stress with their regular work. To avoid this happen, AirAsia should work out a proper time schedule for ERP implementation process and working hours of each employee so that each employee may contribute as per their ability in the process (Mutt, 2010)[Online]. (ii) Poor Selection of ERP Software (Mutt, 2010)[Online]: There are many reasons result the poor selection of ERP software, however the most common cause is due to inability to identity the functional requirements. Proper cross checking of the products not aligned with the designed and derived functional requirements, lack of detailed study of the product and its characteristics also lead to poor selection which may result AirAsia fail in implementing ERP properly. Therefore, to avoid this, employees of the company at all levels should be responsible and involved in the testing and study of the product. Assistance from the external expert can be taken to improve the system. Besides, successful implemented ERP from the same industry can be use and refer for the improvement purposes. 4.0 Conclusion In todays world, the business among airline industry has become more competitive and very tough. Every company in airline industry is trying to implement some strategies to compete with each other. To survive in business world, AirAsia needs to achieve their long terms objective and compete with their competitor in the airline industry. AirAsia has been so successful in Low Cost carrier (LCC) among all the competitors in airline industry until today and many passengers would like to travel by choosing AirAsia because they offered low fares with no hidden charges, interesting promotion packages, and many more. Recently, AirAsia had offer mobile booking via SMS (Short Message Service) and AirAsia is the first airline in the world provides this service. Last but not least, CRM is a powerful competitive tool that always serves customers better by understanding their needs, wants, and behaviours. Through the AirAsias website applications, they can provide most reliable and potential airline services to customers. 5.0 How AirAsia should use Information Systems for the future, focusing on the competitive advantages of IT As a CEO (Chief Executive Officer) of AirAsia, in order for AirAsia to improve the performance and management of AirAsia successfully in future, few competitive advantages of IT are needed to focus. However, the most important information system should focus on is Customer Relationship Management (CRM). First of all, AirAsia shouldnt approach to CRM initiative development that is learning from other competitors, for example fast check-in system by installing kiosks. In order to differentiate from other competitors in travel industry, AirAsia should carry out CRM program in favor of investing in initiatives with a high return, which will respond to customers needs and desires. Therefore, in order to maintain competitive advantages and profitability, AirAsia should foster the relationships between customers (according to Hillman and Keim). In the business world, company will never compete against company, but will compete network against network. For example, MAS (Malaysian Airline System) does not compete against AirAsia. Their respective networks compete. AirAsia and MAS, both are low fare airlines. In order to attract customers to travel, AirAsia always advertise their promotions through AirAsias webpage and newspapers with the most affordable price. With no doubts, poor network services will not have a good relationship in long run. Therefore, network has to work together with CRM to deliver great value of information to customers and solve customers problems, is a source of great competitive advantage. Lastly, a simple notification given by AirAsia to customers can be an opportunity for a valued dialogue. The implementation of CRM is to create a valuable customer relationship and with the two basic functions that are marketing and the customer experience. Marketing is required to build promises with customers, manage the dialogue component of the customer relationship, and motivate customer purchase behaviour. The customer experience is to deliver on the promises, represent the service component of the customer relationship, and reinforce customer purchase behaviour. Time is precious, quick and prompt to respond to customers email or SMS (Short Message Service) is very important. Dissatisfaction of customers is also very important because it provide excellent feedbacks to improve the quality and value-added of AirAsia.

Roman Allusions in Charlotte Brontes Jane Eyre :: Charlotte Bronte Jane Eyre

Roman Allusions in Charlotte Bronte's Jane Eyre The references to Roman figures in Jane Eyre are few but very effective. Charlotte Bronte uses allusions to Nero, Caligula, and Messalina that on the surface appear to be quite simple. However, with further investigation and analysis, it is very clear these simple references are anything but. The first Roman allusion occurs in chapter one in reference to John Reed. Comparing him to Nero and Caligula serves many functions. First, it illustrates just how cruel he is in the eyes of Jane. Second, it foreshadows numerous things about John Reed including his early demise, his frivolous spending, and his lascivious behavior. Another Roman reference occurs much later in the novel. When Rochester is describing the terrible time he went through in finding a wife, he makes a reference to Messalina. The reference alludes to the type of wife Bertha was, and insinuates she was promiscuous. The easily glanced over allusions tell a great deal about the characters they refer to. The first Roman allusion occurs in chapter one, during Jane’s confrontation with John Reed. After catching her reading a book, he reminds her that she is only a dependant and not of the same class as himself, and that she ought " . . . not live with gentlemen’s children . . ." (23; ch. 1). Then, he picks up the book and throws it against her head, causing her to fall, hit her head, and start bleeding. Young Jane shouts, "Wicked and cruel boy! You are like a murderer – you are like a slave-driver – you are like the Roman emperors!" (23; ch. 1) Jane then tells the reader: "I had read Goldsmith’s ‘History of Rome,’ and had formed my opinion of Nero, Caligula, etc. Also, I had drawn parallels in silence, which I never thought thus to have declared aloud" (23; ch. 1). It is those "parallels" that are vital to understanding Bronte’s reference to Roman emperors, and specifically Nero and Caligula. Comparing John Reed to those figures is a shorthand way of saying a lot about his character, and more importantly, it is a clue to what is to become of him. Goldsmith’s account of Nero and Caligula is important in understanding why John Reed is likened to them. According to Goldsmith, Caligula was arrogant, greedy, and cruel (365). He had many vices and hurt everyone around him. Roman Allusions in Charlotte Bronte's Jane Eyre :: Charlotte Bronte Jane Eyre Roman Allusions in Charlotte Bronte's Jane Eyre The references to Roman figures in Jane Eyre are few but very effective. Charlotte Bronte uses allusions to Nero, Caligula, and Messalina that on the surface appear to be quite simple. However, with further investigation and analysis, it is very clear these simple references are anything but. The first Roman allusion occurs in chapter one in reference to John Reed. Comparing him to Nero and Caligula serves many functions. First, it illustrates just how cruel he is in the eyes of Jane. Second, it foreshadows numerous things about John Reed including his early demise, his frivolous spending, and his lascivious behavior. Another Roman reference occurs much later in the novel. When Rochester is describing the terrible time he went through in finding a wife, he makes a reference to Messalina. The reference alludes to the type of wife Bertha was, and insinuates she was promiscuous. The easily glanced over allusions tell a great deal about the characters they refer to. The first Roman allusion occurs in chapter one, during Jane’s confrontation with John Reed. After catching her reading a book, he reminds her that she is only a dependant and not of the same class as himself, and that she ought " . . . not live with gentlemen’s children . . ." (23; ch. 1). Then, he picks up the book and throws it against her head, causing her to fall, hit her head, and start bleeding. Young Jane shouts, "Wicked and cruel boy! You are like a murderer – you are like a slave-driver – you are like the Roman emperors!" (23; ch. 1) Jane then tells the reader: "I had read Goldsmith’s ‘History of Rome,’ and had formed my opinion of Nero, Caligula, etc. Also, I had drawn parallels in silence, which I never thought thus to have declared aloud" (23; ch. 1). It is those "parallels" that are vital to understanding Bronte’s reference to Roman emperors, and specifically Nero and Caligula. Comparing John Reed to those figures is a shorthand way of saying a lot about his character, and more importantly, it is a clue to what is to become of him. Goldsmith’s account of Nero and Caligula is important in understanding why John Reed is likened to them. According to Goldsmith, Caligula was arrogant, greedy, and cruel (365). He had many vices and hurt everyone around him.

Organizational Behavior: An Analysis of Helm Fire and Rescue Company Essay

Introduction Organizational Behavior is referred to as the study of individuals and their relative behavior subject to the existing organizational environment. The concept applies in a diverse workplace setting in different ways and had diverse impacts to the organization. Organizational behavior field includes communication, sociology, psychology, and management. The concept is subject to both internal and external factors affecting the organization. The formula for success in business as noted by Millstein et al. (1998, p.7) requires two elements including the external environment and the individual. Major scholars have also noted that removing one of these values is impossible within the organization setting. This paper uses report that analyses organizational behavior issues in the context of fire and rescue services. It applies learned theory in the analysis for a compressive understanding of the issues underlying organizational behavior. Definitions †¢Organizational Behavior – It is the study of individuals and their relative behavior subject to the existing organizational environment (Gary 1995, p.128-129). †¢Organizational Development – it is a planned, organization-wide effort to increase an organization’s effectiveness and viability. It is also referred to as a response to change, a complex educational strategy intended to change the beliefs, attitudes, values, and structure of the organization so that they can better adapt to new technologies, marketing and challenges, and the dizzying rate of change itself (Robert 2009, p.297–299). †¢Corporate Planning – From a company’s perspective, corporate planning involves formulating long term business goals so that the strategic planning of an enterprise may be developed and acted upon (Millstein et al 1998, p.7) †¢External Environment – They are the conditions, entities, events, and factors surrounding an organization which influence its activities and choices, and determine its opportunities and risks (Francis & Fred 2009, p.69-76). †¢Stakeholders – These are persons or groups that an organization perceives itself to hold accountability to (Robert 2009, p.297–299). Helm fire and rescue company, provides fire and rescue services in Virginia state. The company has been in the market for  over four years since its start. Over the years, the company has grown and has expanded its services to other states including California and Las Vegas. Over the years, the company has survived the highly competitive market, which have been established across the respective states offering fire and rescue services. The company has employed at least 25 employees in every station across the states holding diverse responsibilities and assigned roles. Its competitive nature and su ccess has been attributed to appropriate handling of organizational Behavior aspects and the strong capacity of streamlining both internal and external elements (Gary 1995, p.128-129). Helm fire and rescue service is organized principally into the two key functions including service delivery and service support both managed by selected managers by the board of directors. The functions are supported by the corporate planning and finance department and the people and Organizational Development department also managed by respective individuals. All the teams operating within the company including the respective departments and fire stations are within the identified areas. The entire team is led by the chief executive officer and his assistant with other departmental heads following the hierarchy including head of communications, head of community fire protection, head of community safety, and the head of unitary performance. The case analysis revealed four principal components as critical to a successful effective organization. The case identified these components as the way in which governance of an organization is facilitated, how it attains and establishes its obj ectives and goals, if it promotes ethics, and if the company maintains healthy organizational aspects. The findings provided from the analysis indicated that a Helm fire and rescue service was an effective organization though in some of the departments, it required improvements. Francis and Fred (2009, p.69-76) was of the view that management must continuously be the main element palpating the pulse of the specific organization and at all times know their opportunities, threats, strengths, and weaknesses. They noted that four cardinal contributors to a success within an organization are the way in which that particular organization is governed, the way it attains and establishes its goals and objectives, its strategies to promote ethics, and if the strategic maintenance of aspects that reflect a healthy organization. To effect change and allow for full operations to take place  at Helm fire and rescue services management has been the key element of consideration. Helm fire and Rescue Company has its mission as being effectively saving property, lives and the environment. The strateg ies implemented to accomplish this mission, and the identified values are subject to management (Millstein et al 1998, p.7). These aspects drive the organization, and management is facing a herculean challenge (Robert 2009, p.297–299). However, the company has thrived in operation with the management facilitating periodic evaluation of diverse components of the organization including success and failure in the year’s operations, communication between departments and environmental conservation. Due to external forces of globalization Kimberly (2009, p.87–110) noted that, in today’s changing environment, it is critical that an organization conducts diagnosis, assessment, audit or evaluation of its operations to analyze whether it is on the right step of success. Helm Service Company has valued this aspect, and it is working hard to oversee that its operations conform to international standards. These external factors have called for the organization to restructure itself and conform to the rapidly changing market. Kimberly (2009, p.87–110) also noted that the main external factors affecting firms in the modern day include competition, changing customer expectations and globalization. In this context, helm rescue services also have faced such factors in its external environment. Technological improvements have been on the frontline of the company’s management, which has been adopted within its services (Gary 1995, p.128-129). These improvements have been targeting rescue service processes geared towards meeting its goals and objectives. The company has also changed its structures to fit efficient rescue services that will also provide safety to for its employees. The structures have been laid including diverse administrative and legislative arrangements (Robert 2009, p.297–299). The fire service company has undergone changes since the beginning of this year with significant indications, a process that has been exacerbated by devolution of the state’s central government powers and the introduction of new legislation policies guiding companies in this line of operation. Other leading external factors that have contributed to change being effecte d in the organization include changes to operational procedures particularly in the modern era of terrorism attacks and threats across the country. Strategic organizational assessment Francis and Fred (2009, p.69-76) has involved the respective teams within Helm fire Service Company assisting in identifying and finding the real organizational problems. The teams have cooperated to express concisely the way forward for the organization in its expansion of services (Silverthorne 2004, p.592–599) to other states. The strategies adopted in organizational development include an introduction of free services that are categorized under exceptional services that are charged for by other service providers. The company has also established additional services free to the end user especially to be used in the case of an emergency. With such strategies the company handles the competitive market appropriately and it has been thriving well across states with its operations. Robert (2009, p.297–299) noted that organizational assessment is a excellent facilitator of organizational change and what is acceptable in enabling organiza tions to continually improve and develop their performance capabilities. In its structural reforms, Helm Service Company has also looked into governance issues. Governance is a broad concept used in the organization to define an organization’s exercise of control or authority and the management system (Gary 1995, p.128-129). In general, governance is the internal means through which a firm establishes policies which are ideal in determining control mechanisms, establishing decision-making processes, allocating power, and setting up procedures that help to perform specific tasks (Francis & Fred 2009, p.69-76). At Helm fire and rescue service, governance has been transformed to comprise of the internal relationships with a strong consideration of its stakeholders, managers and boards of directors. Organizational governance is what Helm has embarked on indulging a process that involves consultation by administrators as well as other governing boards in all decision making to ascertain that decisions made are appropriate for the company’s growth and development of a competitive edge. Conclusion The concept of organizational behavior applies in a diverse workplace setting in different ways and had diverse impacts to the organization. Organizational behavior field includes communication, sociology, psychology, and management. The concept is subject to both internal and external factors affecting the organization. At Helm fire and rescue services, this concept  has been applied diversely and it has worked for the company in improving its performance and sustaining growth within the market. Proper application of the concept has also worked well for the company in sustaining its competitive advantage across the market, which is ideal for its long-term survival. References Francis, J. & Fred, D 2009, A newer organizational behavior, in Francis, Y. and Fred, D. (ed.) Multi-Level Issues in Organizational Behavior and Leadership (Research in Multi Level Issues, Volume 8), Emerald Group Publishing Limited, pp.69-76. Gary, D 1995, Managing Organizations in an Era of Change, Florida: Dryden Press, pp. 128-129 Kimberly, E 2009, the effects of social comparisons on managerial career satisfaction and turnover intentions, Career Development International, 14(1), pp. 87 – 110 Millstein, Ira, et al 1998, Corporate Governance: Improving Competitiveness and Access to Capital in Global Markets, London: OECD. p. 7 Robert, L 2009, Positive Organizational Behavior, Leadership & Organization Development Journal, 30(3), pp. 297 – 299 Silverthorne, C 2004, the impact of organizational culture and person-organization fit on organizational commitment and job satisfaction in Taiwan, Leadership & Organization Development Journal, 25(7), pp. 592 – 599

Poverty in Canada Essay

Poverty in Canada has been a long debate on the political and social fronts of the community. According to 2005 reports, an estimated over ten percent of the Canada population are living in poverty. Of much concern is the ever increasing rate of homelessness experienced in the nation over the past two decades (Lee, 2000). However, numerous reports have indicated that the measure of poverty in Canada is negated by the government’s failure to have a definite method of measuring poverty levels. True to the letter, Canadians are current faced with the debate on whether absolute or relative measure of poverty is the best in determining poverty levels in the nation. Nevertheless, numerous measures have been put in place to promote poverty reduction strategies in many provinces of Canada. In addition, non-governmental organizations are increasingly engaging in community based poverty reduction projects. This paper is written as a discussion on poverty in Canada. The author will in particular look at the statistics of poverty in the nation, how poverty is measured in Canada, and the current poverty reduction measures being implemented. Poverty in Canada Poverty in Canada has been an historical issue for many centuries. According to available statistical information, poverty in the nation remains a swing between economic growth and recession as well as numerous evolving initiatives by the government to assist low income members of the community (Raphael, 2002). This information still indicates the emergence of organized assistance to the poor in the twentieth century. True to available literature, most of the poor assistance programs are generally funded by the church. This is evident from the catholic encyclopedia, which funds approximated over eighty seven hospitals in the Canadian nation catering for the poor members of the community (Surhone, 2009). On the other hand, the government has been on the forefront in addressing poverty issues among its citizens. Such can be historically evident from the establishment of the Canada’s welfare state after the great depression as was initiated by Bennett and Mackenzie King. Nevertheless, the problem of poverty in Canada is still a major threat to the sustainable social and economic development of the Canadians. From a 2003 statistical reports, an estimated poverty rate of over 10% has been reported (Raphael, 2002). This percentage has been confirmed by the central intelligence agency as an official value although the absolute rate is undoubtedly expected to be higher. However, the Canadian federal government seems not to agree with this value and have published a current poverty rate to have gone down for the past sixty years to a value less than five percent (Raphael, 2002). This value was determined on the basis of the basic needs poverty measure and deviates very much from what is perceived to be real. Many organizations top on the list being the Fraser institute have not appreciated this value and depict the Canadian federal government as extremely exaggerative. The above contradiction between the government and these conservative organizations has been compounded by the fact that the Canadian federal government has failed to endorse any metric measure of poverty including but not limited to the low income cut off. Altogether, the Canadian federal government seems to have realized the impact of poverty to the society and have employed several measures to reduce it. This is evidenced by the continued decline of poverty in the recent time 1996 when recession which was marked with low income rates. For instance, statistics shows that the less fortunate people such as the physically disabled, mentally ill, and single parent mothers are experiencing higher income rates. Students and recent immigrants have at least higher or average low income rate hence they can afford the basic needs. Measures of poverty in Canada The establishment of an official poverty measuring system in America has been marked with many controversies top on the list being the fact that politicians have failed to agree on a precise definition of poverty (Groot-Maggett, 2002). The have therefore ignored the interest of statistics Canada of defining poverty by it unable and unworthy to determine what is necessary to be a basic necessity. The government and some research institutes use different methods to estimate the extent of poverty of poverty in Canada. However, a debate has emerged on the supremacy of absolute and relative methods of measuring the depth of poverty. The author of this paper discuses both the absolute and the relative measures of poverty. One of the absolute measures of poverty is the basic needs poverty measure. According to libertarian Fraser institute’s economist Chris sarlo, the basic needs poverty measure was conceived to be a poverty threshold (Groot-Maggett, 2002). According to this basic needs approach of poverty, basic needs are those things which are required by people for their physical goods over a long time depending on the current living standards of that particular society. This measure was designed based on different information obtained fro various sources which include but not limited to statistics Canada. An extensive assessment of how much a person can spend in the house was established to give this measure the originality and substance it deserves. This was accomplished by examining the cost of various things which where perceived to meet the above definition of basic need. This included food, clothing, shelter, personal care, transport and communication for different types of societies. Based on the above research and by putting inconsideration the family size, the number of families which had insufficient income to cater for those necessities were determined. Earlier on, the amount of income required to cater for the basic necessities was determined on the basis of gross income which was inclusive of old age pensions and employment insurances. Currently however, the net income has been used the financial ability of a family to sustain its basic requirements (Lee, 2000). A worthy noting point is that this net income is based on reports which can be marked with error such as unreported and underground means of earning income. Based on the basic needs poverty measure, have gone down with an appreciatable rate to a value less than 5% which is estimated to represent less than 2million Canadians. Another absolute measure of poverty is termed the market basket measure. This was designed and established in 2003 by the Canadian government through its department of human resources and skills development (Raphael, 2002). The market basket measure of poverty accommodated a wider range of basic needs than the basic need measure. For instance, it put in consideration the community size and location for at least 48 communities in Canadians and then estimated the sufficient amount of income required to meet those needs. This measure is still understudy and is expected to cover more than 400 communities. The main notable relative property measures is the income distribution measure commonly known as income inequality metrics, gives information regarding the variation of income in a given community. Its effectiveness is evidenced by the fact that when a given group of people increases their income rate then there is a high probability of those earning less to feel an increase in their income. Another often quoted as a relative measure of poverty is the low income cut off which has received many critics from the statistics Canada and they have disregarded it as not a measure of poverty by saying that it does not give reliable and accurate fingers. The low income cut off measure was based on the gross income but the statistics Canada have given reports of both the gross and the net income (Marseken, Timpledon, & Surhone, 2009). This measure was designed to give the lowest mark which when exceeded; a family will have to spend much to cater for basic needs such as food shelter and clothing. Recent results based on this measure showed that approximate of 9. 4% lives below the low the current threshold of 63% of the total family income. Poverty reduction measures Like any other country in the world which is conscious of the well being of its people, the Canadian government through the provinces has employed several measures to eliminate poverty and a gain to reduce its impact to the people. Top on the list of these important measures is reduction of tax burdens. This is evidenced by the progressive income tax system in Canada which has resulted to a difference of about 5% between the gross and net low income cut off (Pohl, 2002). Government social programs cannot go unmentioned here because of their importance and effectiveness in succumbing poverty. The Canadian government has come up with a broad range of social programs aimed at helping the law income people. These programs include but not limited to old age security and employment insurance which have seen through the reduction of chances of falling to poverty of people who were rendered unemployed. In addition to this, government funds have been channeled to subsidizing education and public health with an aim of improving the living standards of people with low income (Raphael, 2002). Another government measure which cannot escape this discussion is the introduction of the minimum wage laws. The constitution of Canada includes the minimum wage laws, which even though they vary for different provinces, they have confirmed there effectiveness in standardizing wages by making sure that people with law income are not exploited (Raphael, 2002). The minimum set minimum wage is $8. 00 per hour although it can go a bit down for unskilled workers. Conclusion In conclusion therefore, poverty is not well defined in Canada because of the failure of politicians to agree on the necessities which should be basic. However, the above discussion shows that a considerable number of people in Canada are poor and lacks the basic needs a defined by the basic needs measure of poverty. In addition to this, the government’s effort to eliminate poverty as well as reducing its impacts cannot fail to be appreciated. This is it has invested sufficiently in social programs and in the enforcement of the minimum law wages which have seen through the reduction of poverty and its effect to the people. It also safeguard the less fortunate people and ensured that the poor people are not exploited or robed there right of living a good life. References Groot-Maggetti, G. (2002). A measure if Poverty in Canada. A Guide to the Debate about Poverty. Retrieved August 1, 2010, from http://action. web. ca/home/cpj/attach/A_measure_of_poverty. pdf Lee, K. (2000). Urban Poverty in Canada: Statistical Profile. Retrieved August 2, 2010, from http://www.ccsd. ca/pubs/2000/up/ Marseken, S. , Timpledon, M. , & Surhone, L. (2009). Poverty in Canada: Poverty, Minimum Wage, Measuring Poverty, Income Taxes in Canada, Economic History of Canada, Great Depression in Canada, Basic Needs, Economic Inequality. Toronto: Betascript Publishers. Pohl, R. (2002). Poverty in Canada. Retrieved August 1, 2010, from http://www. streetlevelconsulting. ca/homepage/homelessness2InCanada_Part2. htm Raphael, D. (2002). Poverty, Income Inequality, and Health in Canada. Retrieved August 2, 2010, from http://www. povertyandhumanrights. org/docs/incomeHealth. pdf

An Examination of Disciplinary Actions Taken for Black and White Male Students

An Examination of Disciplinary Actions Taken for Black and White Male Students AbstractRacial Discrimination, also known as racism, is the practice of limiting people's rights and privileges based on their phenotypic appearance as members of particular groups called races. The problem  Ã‚ ¾f disruptive student conduct in school has been, and continues to be, among the most pressing problems facing educators in public schools today (Duke Jones, 1984; Gottfredson, Gottfredson, Hybl, 1993; Kadel Follman, 1993). In this study, quantitative survey method will be used t Ã‚ ¾ investigate whether high school Black male students receive different disciplinary punishments than do high school White male students f Ã‚ ¾r th Ã‚ µ same infractions. The information regarding low-income status and the perception of students about disciplinary punishments will provide additional insight into th Ã‚ µ factors that shape students' behavior  Ã‚ °nd attitudes toward school  Ã‚ °nd may subsequently impact disciplinary outcomes.DedicationT‘tl Ã‚ µ  Ã‚ ¾f study: AN EXAMINATION OF DISCIPLINARY ACTIONS TAKEN FOR BLACK AND WHITE MALE STUDENTS. Th‘s study ‘s 11250 w Ã‚ ¾rds ‘n l Ã‚ µngth (‘€lus ____ ‘€Â Ã‚ °g Ã‚ µs  Ã‚ ¾f  Ã‚ µss Ã‚ µnt‘ Ã‚ °l t Ã‚ °bl Ã‚ µs  Ã‚ °nd f‘gur Ã‚ µs),  Ã‚ µx‘ lud‘ng t‘tl Ã‚ µ ‘€Â Ã‚ °g Ã‚ µ, t Ã‚ °bl Ã‚ µ  Ã‚ ¾f ‘ Ã‚ Ã‚ ¾nt Ã‚ µnts, summ Ã‚ °ry,  Ã‚ °Ã‚‘ kn Ã‚ ¾wl Ã‚ µdg Ã‚ µm Ã‚ µnts, ‘€r Ã‚ µf Ã‚ °Ã‚‘ Ã‚ Ã‚ µ,  Ã‚ °Ã‚‘€‘€Â Ã‚ µnd‘‘ Ã‚ Ã‚ µs  Ã‚ °nd l‘st  Ã‚ ¾f s Ã‚ ¾ur‘ Ã‚ Ã‚ µs but ‘n‘ lud‘ng n Ã‚ ¾t Ã‚ µs,  Ã‚ °nd ‘s thus  Ã‚ µqu‘v Ã‚ °l Ã‚ µnt t Ã‚ ¾ 50 st Ã‚ °nd Ã‚ °rd ‘€Â Ã‚ °g Ã‚ µs ‘n l Ã‚ µngth (225 w Ã‚ ¾rds = 1 st Ã‚ °nd Ã‚ °rd ‘€Â Ã‚ °g Ã‚ µ).Figure 2In wr‘t‘ng th‘s study, I h Ã‚ °v Ã‚ µ ‘ Ã‚‘t Ã‚ µd  Ã‚ °ll ‘€ubl‘sh Ã‚ µd s Ã‚ ¾ur‘ Ã‚ Ã‚ µs us Ã‚ µd, ‘n‘ lud‘ng Int Ã‚ µrn Ã‚ µt s Ã‚ ¾ur‘ Ã‚ Ã‚ µs,  Ã‚ °s f Ã‚ ¾ll Ã‚ ¾ws:C D‘r Ã‚ µÃ‚‘ t qu Ã‚ ¾t Ã‚ °t‘ Ã‚ ¾ns  Ã‚ °r Ã‚ µ m Ã‚ °rk Ã‚ µd  Ã‚ °s qu Ã‚ ¾t Ã‚ °t‘ Ã‚ ¾ns,  Ã‚ °nd th Ã‚ µ s Ã‚ ¾ur‘ Ã‚ Ã‚ µ  Ã‚ ¾f  Ã‚ µÃ‚ Ã‚ °Ã‚‘ h qu Ã‚ ¾t Ã‚ °t‘ Ã‚ ¾n ‘s ‘nd‘‘ Ã‚ Ã‚ °t Ã‚ µd.C Th Ã‚ µ s Ã‚ ¾ur‘ Ã‚ Ã‚ µs  Ã‚ °r Ã‚ µ  Ã‚ °ls Ã‚ ¾ ‘ l Ã‚ µÃ‚ Ã‚ °rly ‘nd‘‘ Ã‚ Ã‚ °t Ã‚ µd f Ã‚ ¾r m Ã‚ °t Ã‚ µr‘ Ã‚ °l summ Ã‚ °r‘z Ã‚ µd  Ã‚ ¾r ‘€Â Ã‚ °r Ã‚ °Ã‚‘€hr Ã‚ °s Ã‚ µd fr Ã‚ ¾m th Ã‚ µ w Ã‚ ¾rk  Ã‚ ¾f  Ã‚ ¾th Ã‚ µr wr‘t Ã‚ µrs.C S Ã‚ ¾ur‘ Ã‚ Ã‚ µs  Ã‚ °r Ã‚ µ ‘ndÂ⠀˜Ã‚‘ Ã‚ Ã‚ °t Ã‚ µd  Ã‚ °t th Ã‚ µ ‘€Â Ã‚ ¾Ã‚‘nt ‘n th Ã‚ µ t Ã‚ µxt wh Ã‚ µr Ã‚ µ th Ã‚ µ m Ã‚ °t Ã‚ µr‘ Ã‚ °l ‘s us Ã‚ µd,  Ã‚ µÃ‚‘th Ã‚ µr thr Ã‚ ¾ugh  Ã‚ ° r Ã‚ µf Ã‚ µr Ã‚ µn‘ Ã‚ Ã‚ µ ‘n th Ã‚ µ t Ã‚ µxt  Ã‚ ¾r thr Ã‚ ¾ugh  Ã‚ ° f Ã‚ ¾Ã‚ Ã‚ ¾tn Ã‚ ¾t Ã‚ µ,  Ã‚ °s w Ã‚ µll  Ã‚ °s b Ã‚ µÃ‚‘ng l‘st Ã‚ µd ‘n th Ã‚ µ b‘bl‘ Ã‚ ¾gr Ã‚ °Ã‚‘€hy.I m Ã‚ °y h Ã‚ °v Ã‚ µ d‘s‘ uss Ã‚ µd th Ã‚ µ study w‘th  Ã‚ ¾th Ã‚ µrs  Ã‚ °nd us Ã‚ µd  Ã‚ °dv‘‘ Ã‚ Ã‚ µ  Ã‚ °nd sugg Ã‚ µst‘ Ã‚ ¾ns fr Ã‚ ¾m  Ã‚ ¾th Ã‚ µrs ‘n wr‘t‘ng ‘t, but th Ã‚ µ study...

Drop Out of High School Essay Example | Topics and Well Written Essays - 2500 words - 1

Drop Out of High School - Essay Example These charts all appear to be from this reference: Bridgeland, J. M., Dilulio, J. J. and Morison, K. B. (2006). The silent epidemic perspectives of high school dropouts. Washington, D.C.: Bill & Melinda Gates Foundation. 56 Obtaining a high school diploma is extremely important to an American’s chances of having a solid foundation for achieving professional success. This is because an Americans’ financial stability and professional achievement have always been dependent on the education they have received (Shore, 2003). â€Å"High school graduation captures both the cognitive and the noncognitive attributes that are important for success in adulthood, and it is usually a minimum requirement for engaging in further training and higher education† (Levin, 2009, p. 8). Furthermore, a high school diploma is the least one can show future employees that shows one’s capabilities, especially if one is not able to complete a degree in higher education. Not being able to show a high school diploma to a future employer may insinuate that that person lacks the drive to succeed. The fact that a high school diploma is the most basic of requirements for employment is augmented by the increasingly competitive market and the ongoing recession that has made securing employmentconsiderably more difficult. This is evidenced in the report compiled by the U.S. Bureau of Labor Statistics (2010a), which states that in January of this year, â€Å"thirty states and the District of Columbia recorded over-the-month unemployment rate increases, 9 states registered rate decreases, and 11 states had no rate change.† A report released in July 2010 shows how the unemployment rate has remained unchanged across all states at 9.50%, despite the current federal administration’s campaign to control the onslaught of an economic depression (U.S. Bureau of Labor Statistics, 2010b).  

Financial Analysis Term Paper Example | Topics and Well Written Essays - 1250 words

Financial Analysis - Term Paper Example In the case of Competition Bikes Inc., they have been using traditional costing methods and have recently given ABC a try. The following is the data for the overhead costs of six items: From the figure above, we see the difference in production costs due to the cost allocation method. Under the traditional approach, the manufacturing overheads were overpriced for the Titanium model at $239,020 whereas the actual costs is $188,415. Consequently, the total manufacturing cost is also affected. Using the ABC approach would reduce the manufacturing cost of Titanium products, hence, helping the company get better margins. Similarly, for the Carbon DL model, the manufacturing overhead is underpriced at $232,380 whereas using ABC, we found it to be $282,985. Therefore, the product cost is less than the actual cost incurred. Hence, based on the above findings, we can conclude that Activity Based Costing method is the right approach for cost allocation as it allocates costs to individual activ ities making cost identification better. Moreover, it also helps in making operational improvements as with ABC, we have a clear idea of the cost centers. Evaluation of Cost-Volume-Profit Cost-volume-profit analysis also sometimes termed as breakeven analysis is the point at which revenues equal costs (both fixed and variable costs), i.e. a point of no loss or no gain. The analysis assumes that costs and revenue behave in a linearly and both fixed and variable costs have been accurately assigned. It also assumes that all units produced are sold and in the case of more than one type of product, the sales mix remains constant. Cost-Volume-Profit amalysis is the analysis that provides a company a rough understanding of the number of units they can produce to earn a particular amount of profit while incurring certain cost. One of the tools of Cost-Volume-Proft is Breakeven Analysis, which describes the units are which revenue equal cost. Bascially, this means that if Competition Bikes c an sell more than 1415 units of the Titanium model and 786 units of CarbonLite, they would be able to earn profit. Breakeven analysis describes the volume above which a company can earn profits while incurring the same amount of costs. The following figure provides the calculations for the Breakeven Analysis of Competition Bikes Inc. for their plant in San Diego with Titanium model of 900 units and CarbonLite model with 500 units. From the figure above, we can see that if Competition Bikes Inc. sells a total of 2201 units of Titanium and CarbonLite models combined, they would be able to breakeven and if they sell more than 2201 units, they can earn profit. It is also necessary to find the individual breakeven points of both the models. Competition Bikes need to sell 1415 units of Titanium model and 786 units of CarbonLite to be at the point where they suffer no loss and no gain. If we analyze the breakeven point in terms of sales dollars, we know that for Titanium, $1,273,500 are th e breakeven figures whereas for CarbonLite they are $1,175,070 as it is expensive than the Titanium model that is why lesser units and more sales dollars result in the breakeven of CarbonLite. An increase in fixed costs results in increasing both the breakeven units and sales dollars. If the fixed costs of Competition Bikes Inc. increases by an additional $50,000 and the cost of direct materials increase by 10%, then the following breakeven calculations would result: As we can see