Working with Leading People Essay Example | Topics and Well Written Essays - 3250 words

Working with Leading People - Essay Example A few months ago, 63 people applied for the post but only a handful applicants came anywhere near the required standard. Clearly something is not going well. You have been appointed as a HR officer, tasked with improving the standard of recruitment and selection in the company. 1. Prepare a job advertisement for a Marketing Manager for Delicious Food. Delicious Foods UK requires a Marketing Manager to spearhead and executive strategies such as planning, market research, promotions, sales, advertising and PR for the Organization. Candidate should be able to educate and motivate the sales team. Ideal candidate should have at least five years of experience in the relevant field which demonstrates pro-activity, team management and positive sales results. The Marketing Manager will be responsible for key marketing functions like planning marketing strategies, conducting research, advertising and promotions, public relations. The role also involves managing the productivity of the marketin g team and carrying out period reviews of all the marketing activities. 1. Provide an example of a marketing activity that you have successfully carried out in the recent past. 2. What are some of the typical challenges that you face in marketing? 3. Give an example of a situation where a marketing campaign that you handled was not a success. Give reasons. 4. What would be the first few things that you would do if appointed as the Marketing Manager of Delicious Foods? ... Secondly, the preliminary interview would be more comprehensive so that only the best of the lot move to the main interviews. The third step would be to make sure that two rounds of interviews are conducted by senior Marketing officials who would be able to gauge whether the candidate meets the necessary brief. 3. Discuss the legal, regulatory and ethical considerations in recruitment and selection process. As per the employment legislation, an employer is bound to provide certain specific rights to the employee. Therefore, an employer should always provide the right to equality and a workplace without any discrimination (Williams et al, 2010). This should also be applicable during the recruitment process. In addition, many organizations are also likely to face conflict of interest during the recruitment process because of previous associations. Such conflicts also should be avoided and a fair and equal chance should be given to all the candidates. 4. Evaluate the key factors that ar e essential for the success of the recruitment and selection processes in organizations. The key factors that are essential for the success of the recruitment and selection process of any organization include the availability of budget and resources, ensuring that the procedure is carried out with fairness in an ethical manner, detailed process of arriving at job description and role description, comprehensive and evaluative interview process and employee friendly hiring process (Hughes and Rog, 2008). In addition, it is also necessary that these processes are carried out in such a manner that everyone gets equal opportunities. 5. â€Å"One-fourth of interviewers around the world look at candidates' pages on social networking websites to gather information on

The Conclusion Recommendations Construction Essay

The Conclusion Recommendations Construction Essay From the unstructured interview it appears that Anthony is somewhat frustrated with the lack of support for timber frame housing. Anthony has successfully constructed two five-storey apartment blocks of timber frame without any problems, yet the public are concerned about two storey timber structures. More needs to be done to market the benefits of timber frame housing and to educate the public. Although Anthony suggests that timber frame construction will become more popular in the future due to new building regulations requiring increased thermal performance and the Code for Sustainable Homes, it cannot be expected to happen overnight. Despite the governments drive for sustainable developments and using renewable construction materials, such as timber, their support to the timber industry is limited. However, the timber industry cannot wait any longer in the hope that the government will help to persuade the public to construct their homes of timber frame. The timber industry need to take the initiative and invest in marketing techniques that are beneficial to the industry. The government, designers, builders and developers all have a major part to play in raising the awareness of timber frame construction. Over three-quarters of Anthonys work is in the public sector. With government funding reducing year on year and limited profits to be made from public housing Anthony is dependent on private houses. He is keen to do more bespoke timber frame houses but until public perception changes he knows bespoke timber frame houses are sparse. 8.0 conclusion Recommendations 8.1 Introduction After carrying out the primary and secondary research, a thorough understanding of timber frame construction has been developed. It is felt that all requirements set out in the aims and objectives have been achieved. The literature review discussed in detail the current state of timber frame construction in the United Kingdom and the important role it has in the future of the construction industry. The various components, design parameters and regulations of timber frame construction were discussed in detail. Timber frame was compared against traditional masonry in many aspects throughout the research. The case studies demonstrated how flexible timber frame design and construction can be. The interview and questionnaires highlighted the many factors that are restraining timber frame construction in Northern Ireland and what can be done to help it progress. 8.2 Conclusion Traditionally, houses in the UK and Ireland are constructed of brick and mortar, and timber frame is seen as an alternative method of construction. There are many barriers preventing timber frame from progressing from an alternative method of construction into a mainstream competitor of traditional masonry. In the housing sector, it appears timber frame construction is suffering due to the publics negative perception. As was shown in the questionnaire, although a large number of the public recognise the benefits of timber frame construction they are still wary of it and the majority would prefer to build their own homes using traditional masonry. The questionnaire also highlighted the problems the public perceived timber frame construction to have, such as structural instability, poor fire resistance, poor value on the property and limited design. Timber frame construction is the most popular form of construction used throughout the world, but here in Northern Ireland it is seen as cheap and fragile and as a result people do not rate it on the same level as traditional masonry. This investigation has proven all the perceived problems to be untrue and established there is a general lack of understanding, knowledge and widespread availability of information, which has led to the public resisting change from traditional forms of construction. The construction industry is traditionally conservative towards new methods of construction hence many developers and contractors believe it to be a substantial risk to incorporate timber frame construction into their private housing schemes. Housing associations are keen to use timber frame as they want to achieve level 3 of the Code for Sustainable Homes with minimal costs while benefitting from the accuracy and minimal waste that prefabrication offers. Private developers will not use timber frame construction until they are certain the public are prepared to purchase a timber frame home as they do not want to devalue their site. A perceived problem within the industry was the unfamiliarity of timber frame from design through to construction. There is some unease within the industry regarding timber frame construction, whilst some are accepting it; others are oblivious to its existence. The construction industry, as a whole, need to start to familiarise themselves with timber frame design, timber frame detailing and timber frame construction. For timber frame construction to develop, its critical that the industry professionals accept timber frame construction and pass the benefits onto clients. Although the case studies demonstrated that timber frame is a versatile method of construction, until public and industry appreciation of the benefits of timber frame increases, masonry construction will remain the dominant form of construction within the UK. It is important that the benefits of timber frame construction are well demonstrated in order to gain acceptance within the industry and the general public. Upon examination of the information collected during the course of this investigation, it appears that timber frame construction has the ability to be used in the construction of complex bespoke homes. Timber frame construction can offer the public and the industry many benefits, however, the research indicates that until timber frame perception changes, it will struggle to impact Northern Ireland in a way that it potentially could. With new building regulations, due to be released in the second half of 2010, a further increase in regulations due in 2013, zero carbon homes in 2016 and the introduction of The Code for Sustainable Homes; it is likely timber frame will grow in popularity due to its thermal ability and environmentally friendly nature. However, public and industry awareness need to increase before the significance of timber frame construction can be fully appreciated. 8.3 Limitations The questionnaires had to be short and concise, and not overly technical to keep the interest of the respondent. This could have resulted in insufficient data being collected. Although a total of sixty questionnaires were distributed in the North West, only forty were returned. To achieve a broader spectrum of results more questionnaires could have been handed out and posted to further regions of the province, such as Belfast. The single interview conducted was very beneficial in getting a timber frame manufacturers view on different aspects of the industry. Although arrangements were in place to interview another two timber frame manufacturers, the interviews never materialised. It would have been beneficial to conduct further interviews to gather a wider range of views. The two case studies provided an insight into two opposing timber frame structures. It would have been constructive to investigate a second bespoke house to gain a further insight into the methods used to construct bespoke timber frame homes. 8.4 Recommendations When carrying out research for this investigation the public, and some professions within the construction industry, appeared to have a negative perception of timber frame construction. A further area that could be investigated is how these negative perceptions can be changed. Further research could be undertaken into marketing campaigns to increase awareness of timber frame construction. Investigate how advertising and promotion could be used to educate people on the benefits of timber frame construction and see if government support is required. Another area of further research could be industrial training. There is a lack of knowledge within the industry about timber frame design and detailing. An investigation into how further timber training is required within the industry. Possibly there are not enough courses and support available, or maybe there is no government funding therefore no incentive for employers to send their workforce. Timber frame design and detailing could also be looked at in university courses. Napier are offering timber engineering degrees, this is possibly the way of the future.

censored :: essays research papers

â€Å"Congress shall make no law†¦ abridging the freedom of speech.†(United States Constitution) However, it seems almost everywhere; many forms of art are being unfairly censored. One such form that is often overlooked as art is music. â€Å"Music is probably the most censored of all art forms†(The Economist; p 73) There are hundreds of artists who have been unfairly censored, ranging from popular music from artists such as Eminem, 2 Live Crew, and NWA, to classical music, such as Mozart’s Figaro. However unfair and unconstitutional this censorship is, the fact is that questionable music and lyrics are encouraging impressionable young children to follow their messages. Rappers like DMX or NWA, preaching gang violence often are â€Å"the straw that breaks the camel’s back,† and finally pushes a child looking for guidance into the world of gangs. The truth is that these children need to be protected from the harsh realities of the world surroun ding them, but is censoring music the right way to do it?   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"No corporation can exist without authority of government. Government shouldn’t allow corporations that infect and contaminate the minds of children to be allowed to exist.† (Dr. C. Delores Tucker before senate subcommittee). This is one solution that seems to make good sense to many to support the censorship of music. Music of artists such as NWA, who urges their listners to say, â€Å"F*ck the Police,† or Eminem, who says he’ll â€Å"Kill You,† surround children, especially in urban areas. This type of music encourages children to get into drugs and gang violence. In the past eight years, the period in which â€Å"gangsta† rap has been heavily promoted, teenage drug use has increased more than four-fold (Dr. C Delores Tucker). The government is the underlying power that allows corporations to send messages like these to children, and the government is the only resource we can use to stop it. â€Å"Young people ofte n look to performing artists for moral guidance and inspiration as well as entertainment, but when these artists glorify guns and beatings they are injecting poison into the veins of America’s future† (Coretta Scott King). This argument is not isolated to urban areas, or rap music. In fact, hard rock groups have been blamed as the cause of several school shootings. The shooting at Columbine High School in Littleton Colorado was attributed to the music of Marilyn Manson. The most recent shooting blamed on occured in Santee California; the alleged shooter had said that he was listening to Linkin Park’s album, Hybrid Theory the night before the shooting. censored :: essays research papers â€Å"Congress shall make no law†¦ abridging the freedom of speech.†(United States Constitution) However, it seems almost everywhere; many forms of art are being unfairly censored. One such form that is often overlooked as art is music. â€Å"Music is probably the most censored of all art forms†(The Economist; p 73) There are hundreds of artists who have been unfairly censored, ranging from popular music from artists such as Eminem, 2 Live Crew, and NWA, to classical music, such as Mozart’s Figaro. However unfair and unconstitutional this censorship is, the fact is that questionable music and lyrics are encouraging impressionable young children to follow their messages. Rappers like DMX or NWA, preaching gang violence often are â€Å"the straw that breaks the camel’s back,† and finally pushes a child looking for guidance into the world of gangs. The truth is that these children need to be protected from the harsh realities of the world surroun ding them, but is censoring music the right way to do it?   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"No corporation can exist without authority of government. Government shouldn’t allow corporations that infect and contaminate the minds of children to be allowed to exist.† (Dr. C. Delores Tucker before senate subcommittee). This is one solution that seems to make good sense to many to support the censorship of music. Music of artists such as NWA, who urges their listners to say, â€Å"F*ck the Police,† or Eminem, who says he’ll â€Å"Kill You,† surround children, especially in urban areas. This type of music encourages children to get into drugs and gang violence. In the past eight years, the period in which â€Å"gangsta† rap has been heavily promoted, teenage drug use has increased more than four-fold (Dr. C Delores Tucker). The government is the underlying power that allows corporations to send messages like these to children, and the government is the only resource we can use to stop it. â€Å"Young people ofte n look to performing artists for moral guidance and inspiration as well as entertainment, but when these artists glorify guns and beatings they are injecting poison into the veins of America’s future† (Coretta Scott King). This argument is not isolated to urban areas, or rap music. In fact, hard rock groups have been blamed as the cause of several school shootings. The shooting at Columbine High School in Littleton Colorado was attributed to the music of Marilyn Manson. The most recent shooting blamed on occured in Santee California; the alleged shooter had said that he was listening to Linkin Park’s album, Hybrid Theory the night before the shooting.

A by John Updike – Short Essay

Write a critical commentary on John Updike's â€Å"A & P† John Updike’s â€Å"A is written during the early 1960’s in America. The short story is written in a first person narrative of Sammy, who is a young employee at a store. The tone of the story is direct and sounds as if one were partaking in a conversation with Sammy himself. The story, thus, is more personal. The reader follows Sammy’s train of thought as he makes observations of events that happen that lead up to climax of him quitting his job. Sammy can be seen as one who does not stand out, he is lost amongst the masses.He has an ordinary job, with ordinary co-workers at an ordinary store. This is how the middleclass, or working-class, is seen, especially during that time. When Sammy first sees the three girls that walk into the store with their bathing costumes on in the bread aisle, the reader notices how carefully Sammy watches them. He begins his descriptions of the first two girls and dismi sses them for the lack of attraction. He then focuses, and seems to be transfixed, on the third girl whom he deems the leader and names her â€Å"Queenie†. One immediately notices that Sammy finds a certain freedom in her beauty.The fact that she is barefoot and barely clothed defies the normal code of attire in a shop and so creates a freedom. One could say that he is interested in her for the fact that she does stand out, that she is not seen as ordinary, unlike him. In a sense, Sammy has a rather immature view of the world. When he hears that â€Å"Queenie† has been sent to the shop simply to buy a jar of herring snacks for her mother, Sammy immediately pictures a party of rich and sophisticated people. His idea of social statuses and class distinctions, could be said, are misguided.He has the idea that money can lead to freedom, and so climbing the social ladder helps gain that goal. When Lengel (the manager) approaches the girls and reproaches â€Å"Queenie† for her lack of clothing Sammy immediately feels the need to rise to the title of a hero. It is as though he now sees â€Å"Queenie†, the leader, change into a damsel in distress, and feels the need to save her from the words of Lengel. It is almost as though by ‘saving’ â€Å"Queenie† he will have a chance at climbing the social ladder that will lead to his success and freedom.One could also say that Sammy is reaching for individuality, to not simply be an ordinary employee, but be able to become someone that stands out as easily as â€Å"Queenie†. Sammy grasps at the romantic idea of a hero and quits his job, yearning to join the girls. However, the girls walk out the store and Sammy is left to talk to Lengel who states that Sammy wouldn’t want to do this to his mom and dad. Sammy is determined to quit. He realises that quitting is a gesture made that has to be followed through.As he stands outside the store, the romantic hero has died wi thin him. The girls are gone and he realises the situation he has put himself in and the financial straits he has put his parents in. Updike has given the reader a glance into a situation that changed Sammy’s life for good. It emphasises how choices can change a person’s life and how at that stage can seem insignificant. Updike shows the reader how complex life decisions can be. Bibliography A by John Updike: The World’s Greatest Short Stories, edited by James Daley, Dover Publications

Land Use around the world

Land Use Around the World Created by Jennifer Papacy This assignment Involves you playing a game online, so you will have to open a separate browser or tab to access the website and have uninterrupted time and Internet access to complete. Make sure your read the assignment first to see what you need to focus on, as you will have to do a write up on what you observed. The website is www. Guessers. Com and you can play as many times as you want for freely Each game consists of 5 rounds of where you have to guess where in the world oh are, so play for a while to get used to the controls, and take your time to really explore the locations.Guessers uses the Google Road view imagery to drop you somewhere in the world where you can navigate and explore, and you have to guess where and then click on the world map on the right hand side(you can zoom in) and select exactly in the world where you think it is. It will then tell you how close you were, and then continue on to the next location, f or a total of five rounds per game. The point of this assignment is not to see how good you are at guessing, but to have oh examine land use differences In locations you are dropped Into.Make sure you have reviewed the chapter 12 concepts on land use so you can answer the following questions while demonstrating your knowledge and understanding of those concepts. Also make sure you write down exactly where you were for the assignment! Load the answers into the assignment by either cutting and pasting into the text box or uploading as a link. This is worth a maximum of 50 points, and you will be graded on completeness and demonstration of knowledge of concepts on land use and other lass concepts.After playing for a while, select and tell me the exact two locations you visited that have different land use patterns and compare and contrast in a mini paper/essay explaining if you think the areas have had good land use planning or not, and which area you would rather live and why. Answer at a minimum the following questions In the assignment and Incorporate concepts from the book and class on land use and other topics we have covered (water, energy, etc. ): Intensity of land use with descriptionDid they develop well with the landscape and resources (was it well planned or after the fact) Is area one of the following or something else, with reasons listed why: Suburb, Ribbon Sprawl, Leapfrog Development, Tract Development, urban, Rural, Slum, Farmland? Population Density? Economic factors- do you feel this area is affluent or not, why or why not? Aesthetic Issues? Transportation/infrastructure observed and overall condition Natural Resource condition- do you think the ecosystems are healthy there? What seems good, what seems degraded? Water resources adequate?Other resources? What do you think the ecological footprint of residents would be(low, mid high) and why? Would you live here, why or why not? What could be done to Improve land use planning In this area, or how would you have done It differently? For some of these questions you may have to make a judgment call but explain why you think what you did, I. E. Any evidence. Land Use around the world By Tweets This assignment involves you playing a game online, so you will have to open a internet access to complete. Make sure your read the assignment first to see what ere!Each game consists of 5 rounds of where you have to guess where in the world you examine land use differences in locations you are dropped into. Make sure you following questions in the assignment and incorporate concepts from the book and Suburb, Ribbon Sprawl, Leapfrog Development, Tract Development, Urban, Rural, here, why or why not? What could be done to improve land use planning in this area, or how would you have done it differently? For some of these questions you may have to make a Judgment call but explain why you think what you did, I. E. Any evidence.

THE DEVILS ADVOCATE essays

THE DEVILS ADVOCATE essays I recently saw a movie called, "The Devil's Advocate." The previews for this movie seemed unbelievable and sounded very similar to a previous lawyer-based movie. To my surprised, I came out of the movie with many questions, arguments, and admittedly, a little fear. I really enjoy a movie that provokes conversation and arguments about a particular subject that is controversial or makes a person think how they would react in a particular situation. The movie revolves around a small-town lawyer from Florida who is extremely gifted in his ability to win cases, whether his clients were guilty or not. For example, at the beginning of the movie he was defending a person who was wrongly accused of such a horrible crime. He truly believed that his client was innocent because of his position as a well-respected teacher in the community. During the trial he noticed that his client was really enjoying himself and was aroused by her accusations and testimony. At this point he had to make a moral decision that only he could make. Should he continue to represent his client, even though he strongly believed that he was guilty of this crime? He appeared to have a personal struggle with this question, but in the end he decided to defend his client and actually won the case, ultimately keeping his perfect record, but also cheating the abused child who was unfairly molested by this man. He was then offered a great job in New York for a large law firm and became the new hot shot at the company because of his reputation in winning cases. This is when the movie gets extremely interesting, and also a little scary. He and his wife were so surprised and overwhelmed by this new lfie full of nice things and new friends. This new life was possible because of his willingness to do anything to win a case. As it turned out, the head of the law firm was actually the Devil who recruited him because of his disregard for morals in order to do one thing,...

Contract Law The WritePass Journal

Contract Law Introduction Contract Law : 316). In spite of this, the practical application of economic duress has been subject to much confusion and it has been questioned when, if ever, renegotiations should be enforced. It would seem, under the doctrine of consideration, that renegotiations can never be enforced on the basis that no additional consideration supports the promise to pay more or accept less (Chen-Wishart, 2012: 316). Under the promissory estoppel doctrine, the promise to pay the same for less can be enforced in limited circumstances, though this does not apply if illegitimate pressure has been exerted. Therefore, if it can be demonstrated that illegitimate pressure has been applied to the renegotiation of a contract, that contract will not be enforceable. Because commercial contracts are extremely competitive, it is likely to be the case that some form of pressure will always be applied. Though the question to be determined is whether the pressure that has been applied is legitimate or not. This is likely to be ex tremely problematic and thus cause a great deal of complexity for the courts. As exemplified in the cases above, threats to blacklist a ship and refuse its release may constitute duress. Further examples of where economic duress has occurred can be seen in the cases of North Ocean Shipping Co Ltd v Hyundai Construction Co Ltd [1979] QB 705 and Pao On v Lau Yiu Long [1979] UKPC 17 where threats to terminate a contract in the absence of a renegotiation is also illegitimate unless it can be legally justified. What will be deemed legally justified is largely a matter to be determined based upon individual facts and circumstances, though there is likely to remain a lot of confliction in this area. In Williams v Roffey Brothers Ltd [1991] EWCA Civ 5 the Stilk case was severely limited by the courts.   Here, the consideration requirement was extended to include practical benefits and thereby covered the promise to perform an existing contract. Here, a number of contractors promised to refurbish 27 flats with a sub-contractor performing the carpentry. Before the flats were finished, the sub-contractor realised that he had under-priced the contract and was resultantly facing financial difficulty. The main contractors offered the sub-contractor a financial inducement to finish the contract on time. It is trite law that consideration is needed for a party to that contract to be able to sue on it. Since the sub-contractor was doing no more than he was already bound to do under the contract, consideration was lacking. Surprisingly, it was held by the court that because the contractors had received a benefit from the sub-contractor, in that they avoided the penalty clause of the main contract, the sub-contractors claim was successful. This did not mean that consideration was present as the benefit did not move from the promisee, although there was a clear departure from the orthodox principle of consideration principle. The doctr ine of consideration maintains that a contract will not be supported by the performance of an existing duty unless that duty exists by virtue of a third party contract (Noble, 1991: 141). This decision conflicts with the decision in Stilk which demonstrated that consideration needs to be of economic value to be deemed good consideration and that it needs to move from the promise as also shown in; White v Bluett (1853) 23 LJ Ex 36; Thomas v Thomas (1842) 2 QB 851; Shadwell v Shadwell (1860) 9 CBNS 159; and Scotson v Pegg (Scotson v Pegg (1861) 6 H N 295). It has also been argued by Cheshire et al; that; the time has come to recognise formally the alternative definition of consideration and admit that the rationale behind the refusal to enforce some types of consideration is pure policy (Cheshire et al; 2012; 77). Arguably, it appears that the consideration principle is rather outmoded and in need of reform so that a more robust approach to economic duress can be taken by the courts. At present, much confusion arises as to when economic duress can be used as a defence. Judges thus need to err on the side of caution to prevent commercial pressure being mistaken for economic duress and vice versa. Still, as stressed by the court in Adam v Opel Gmbh v Mitras Automotive [2007] EWHC 3481; â€Å"the list of matters to be considered in assessing legitimacy is not exhaustive, and the weight to be attached to each of them will depend on the facts of the individual case. Furthermore, it was also stated in the case that the decision to be made will involve some element of value judgement when considering whether the pressure that was exerted on the claimant crossed the line from that which must be accepted in normal robust commercial bargaining. It is clear from the decision in this case that the courts have made some attempts to provide clarity in this area and that each case will be decided on its own facts. In the more recent case of Kolmar Group AG v Traxpo Enterprises Pyt Ltd [2010] EWHC 113 it was evidenced that a contract variation between a supplier and a customer will unlikely amount to duress if the supplier is unable to perform a contract as a result of financial difficulties that will cause the supplier to become insolvent. Another problem that arises when it comes to economic duress is whether lawful conduct can amount to illegitimate pressure. Whilst it is possible, it is also extremely rare as shown in CTN Cash and Carry Ltd v Gallaher Ltd [1993] EWCA Civ 19; GMAC Commercial Credit Ltd v Dearden [2002] All ER (D) 440 (May) and Wright v HSBC Bank plc   [2006] EWHC 930 QB. Consequently, economic duress will continue to pose many problems as there will always be a debate as to whether particular circumstances may or may not give rise to a claim for economic duress. Because of the uncertainty within this area, it is evident that a more robust approach needs to be taken so that greater clarity and consistency can be provided. Economic duress has also been criticised for being causation-led, thereby meaning that a lack of causation will prevent a successful claim from being made. In Pao On v Lau Yiu Long [1979] UKPC 2 it was pointed out by Lord Scarman that in deciding whether causation was present, it will need to be considered whether the claimant; a) protested; b) had a practical alternative open to him; c) received independent advice; and d) acted promptly. This decision has been criticised for being inconclusive and failing to take into account the fact that claimants may not think that there is any point in protesting. This was recognised by Chen-Wis hart when it was argued that; these factors are inconclusive. The victim may not protest because he sees no point in it or he may not wish to antagonise the coercing party whose performance he needs (Chen-Wishart, 2012: 318). It is clear that the facts and circumstances of each case will be the determining factor as to whether the claimant has suffered economic duress or not. Because of the uncertainty that exists in this area, however, it is often difficult for those entering into commercial contracts to acknowledge that they are exerting pressure that is considered illegitimate, especially when there is a possibility that lawful pressure will also be capable of amounting to economic duress. As a result of this, Young warns against exerting commercial pressure that the courts may possibly consider economic duress: Abusing your upper hand can leave the strong open to claims (Young, 2012: 23).   Conclusion Overall, whilst the doctrine of duress is well established in English law, the doctrine of economic duress still remains largely uncertain. This generally arises from the difficulty of distinguishing between legitimate and illegitimate economic duress. As such, it is up to the courts to decide when a persons economic interests have been damaged from being forced or coerced into entering into a contract. Hence, the court will be required to consider whether the re-negotiation of the terms of the contract were lawful and whether the person being subjected to the economic duress, should be entitled to rescind the contract that they entered into. This is an important defence in ensuring that parties to a contract have equal bargaining power. Nevertheless, the practical application of economic duress has been subject to much confusion over the years, which may result from the reasoning that has been provided by the courts. There appears to be a lack of consistency that is being provided, which highlights the need for future reform to this area. Whilst there is a difference between commercial negotiation and illegitimate pressure, it has proven extremely difficult to distinguish between the two, especially since lawful conduct can also amount to illegitimate pressure. In order to provide clarity to this area, it seems as though a more robust approach is therefore needed by the courts. References Business Dictionary. (2014) Economic Duress, [Online] Available: businessdictionary.com/definition/economic-duress.html [07 July 2014]. Card, R. Murdoch, J. and Murdoch, S. (2003) Estate Management Law, OUP, 6th Edition. Carr, N. (2011) Walking the Line – The Balance Between Legitimate Negotiation and Economic Duress, Available [Online]: lexology.com/library/detail.aspx?g=ee935c57-32ac-471f-ae37-4f65a4912b9c [07 July 2014]. Chen-Wishart, M. (2012) Contract Law, Oxford University Press. Cserne, P. (2009) Duress in Contracts: An Economic Analysis, Contract Law and Economics, Volume 6, 2nd Edition. Furmston, M. P.   Cheshire, G C. and Fifoot, C H. (2012) Cheshire, Fifoot and Furmstons Law of Contract, Oxford University Press: London. Dictionary. (2014) Duress, [Online], Available: yourdictionary.com/duress [07 July 2014].    Noble, M. (1991) For Your Consideration, New Law Journal, Volume 141, Issue 1529. Ohrenstein, D. (2013) Key Developments in Contract Law: Economic Duress, Radcliffe Chambers, [Online] Available: radcliffechambers.com/media/Misc_Articles/Key_Developments_in_Contract_Law_-_Economic_Duress_2013.pdf [07 July 2014]. Young, A. (2012) When Pressure Turns to Duress, Construction Law Journal, Volume 23, Issue 5.   Cases Adam v Opel Gmbh v Mitras Automotive [2007] EWHC 3481 Collins v Godefroy (1831) 1 BAd 950 CTN Cash and Carry Ltd v Gallaher Ltd [1993] EWCA Civ 19 Dimskal Shipping v International Works Federation (The Evia Luck) [1992] 2 AC 152 DSND Subsea Ltd v Petroleum Geo Services ASA [2000] EWHC 185 GMAC Commercial Credit Ltd v Dearden [2002] All ER (D) 440 (May) Kolmar Group AG v Traxpo Enterprises Pyt Ltd [2010] EWHC 113 North Ocean Shipping Co Ltd v Hyundai Construction Co Ltd [1979] QB 705 Pao On v Lau Yiu Long [1979] UKPC 17 Scotson v Pegg (Scotson v Pegg (1861) 6 H N 295) Shadwell v Shadwell (1860) 9 CBNS 159 Siboen and The Sibotre [1976] 1 Lloyds Rep 293 Stilk v Myrick (1809) 2 Camp 317 Thomas v Thomas (1842) 2 QB 851 Universe Tankships v International Workers Federation (The Universe Sentinel) [1983] 1 AC 366 White v Bluett (1853) 23 LJ Ex 36 Williams v Roffey Brothers and Nicholls (Contractors) Ltd [1991] 1 QB 1 Wright v HSBC Bank plc   [2006] EWHC 930 QB

All About Halifax, the Capital of Nova Scotia

All About Halifax, the Capital of Nova Scotia Halifax, the largest urban area in Atlantic Canada, is the capital of the province of Nova Scotia. It sits in the center of Nova Scotias east coast and is an important seaport that looks out over one of the worlds largest natural harbors.  Its been strategic militarily since its founding for just that reason and is nicknamed Warden of the North. Nature lovers will find sandy beaches, beautiful gardens, and hiking, birding, and beachcombing. Urbanites can enjoy the symphony, live theater, art galleries, and museums, along with a lively nightlife that includes brewpubs  and a great culinary scene. Halifax is a relatively affordable city that provides a mix of Canadian history and modern living, with the constant influence of the sea. History The first British settlement that became Halifax began in 1749 with the arrival of about 2,500 settlers from Britain. The harbor and the promise of lucrative cod fishing were the main draws. The settlement was named for George Dunk, Earl of Halifax, who was the main supporter of the settlement. Halifax was a base of operations for the British during the American Revolution and also a destination for Americans loyal to Britain who opposed the Revolution. Halifaxs remote location hindered its growth, but World War I brought it back into prominence again as a shipping point for supplies to Europe. The Citadel is a hill overlooking the harbor that from the citys beginnings was  valued for its view of the harbor and surrounding lowland and was from the start the site of fortifications, the first being a wooden guard house. The last fort to be built there, Fort George, stands as a reminder to the historical importance of this key area. Its now called Citadel Hill and is a national historic site that includes re-enactments, ghost tours, changing of the sentry and walks around the inside of the fort. Statistics and Government Halifax covers 5,490.28 square kilometers or  2,119.81 square miles. Its population as of the 2011 Canadian census was 390,095. The Halifax Regional Council is the main governing and legislative body for the Halifax Regional Municipality. The Halifax Regional Council is made up of 17 elected representatives: the mayor and 16 municipal councilors. Halifax Attractions Besides the Citadel, Halifax offers several interesting attractions. One not to be missed is the Maritime Museum of the Atlantic, which includes artifacts from the sinking of the Titanic. The bodies of 121 victims of this tragedy in 1912 are buried in Halifaxs Fairview Lawn Cemetery. Other Halifax attractions include: Pier 21: Canadian Museum of ImmigrationProvince House, the Legislative Assembly of Nova ScotiaArt Gallery of Nova Scotia Trans Canada Trail Halifax Climate Halifax weather is strongly influenced by the ocean. Winters are mild and summers are cool. Halifax is foggy and misty, with fog on more than 100 days of the year, especially in spring and early summer. Winters in Halifax are moderate but wet with both rain and snow. The average high temperature in January is 2 degrees Celsius, or 29 degrees Fahrenheit. Spring comes slowly  and eventually arrives in April, bringing more rain and fog. Summers in Halifax are short but beautiful. In July, the average high temperature is 23 degrees Celsius, or  74 degrees Fahrenheit. By late summer or early fall, Halifax may feel the tail end of a hurricane or tropical storm.

Communist Manifesto, Descriptions and Prescriptions Essay

Communist Manifesto, Descriptions and Prescriptions - Essay Example It serves as a framework on how to develop what is theory into reality. The paper divulges the current problems of society and then offers what must be done in order to achieve its common goal which in one word can only be described as equality. The Communist Manifesto begins with painting a picture of the struggle of proletarians throughout history. The division of population is always leaning toward various social classes which are basically hierarchical. This is divided into the two most distinct classes, the Bourgeoisie and Proletariat. Throughout time the bourgeoisie has developed leaving behind all other class through leaps and bounds. This tremendous growth is not only economic but a political rise as well. â€Å"The executive of the modern State is but a committee for managing the common affairs of the whole bourgeoisie† (Marx, p.3). This statement proves that the rich has taken over even the government and its officials do according to their bidding as opposed of for the welfare of the general public. Free trade was equated to exploitation according to Marx. Money became the moving power in relations. The discourse then moved further into detail with the problems of the current society and how this is aimed to be solved by communism. It starts with the struggle of the working class which has sunk deeper into social status by the modern industry as he is further left into oblivion by depreciated value as he is replaced by machines which provided for faster and more cost-efficient production for profit by the wealthy. Marx describes them as a commodity who had only then found their strength in numbers by organizing themselves into groups such as a union in order to upheld their interests and protect their wage from greedy capitalists. â€Å"These labourers, who must sell themselves piece-meal, are a commodity, like every other article of commerce, and are consequently exposed to all the vicissitudes of competition, to all the fluctuations of the market† (Marx, p.6). The answer to this is that there is essentially no difference between the working man and a communist. When proletarians form into a class and then into a party it becomes a communist party which is revolutionary in character when it calls for real change. The Communists are the working class, the only differences lies in the variation among nations with the primary interests that they pursue and the different stages of development they must venture into to protect their movement. This is a direct call upon the working class who are contemplating the advantages of communism. In an equation Marx provides the similar goals of a Communist to that of proletarian parties, first is their establishment into a class, then the need to dethrone the bourgeoisie in their power and finally, their own political take-over to implement a communist rule. Property is another source of discontent among the people. The author goes into a detailed account of the historical cha nges in property relation, specifically the weight of the feudal system that proliferated for a long time. The most common conception among the goals of communism is the absolute abolition of property as a means to achieve communal life in a global perspective. This is dispelled by stating that what it seeks to abolish is bourgeois property and not all property. But difference does it really contain? Property that was acquired through the exploitation of others in the process falls under this category. A capitalist is not limited to

Reasons why scientist believe the global climate is in the state of Essay

Reasons why scientist believe the global climate is in the state of crisis - Essay Example Earth’s energy budget constitutes the shortwave radiation net flow into the earth from the sun and the long wave radiation out to space. The weather and climate experienced on Earth are determined by the amount and distribution of incoming radiation from the sun. For an equilibrium climate, outgoing long wave radiation (OLR) necessarily balances the incoming absorbed solar radiation (ASR). However, there is a great deal of fascinating atmosphere, ocean, and land phenomena that couple the two. Greenhouse gas warming is caused by a shift in this balance where OLR is reflected back to the surface by the atmosphere. This reflection is due to the presence of heat-trapping gases (greenhouse gases) in the atmosphere. These gases include: carbon dioxide, methane and nitrous oxide. Naturally this reflection helps maintain the life sustaining surface temperature of the earth. Human activities have however increased the concentration of these gases; specifically carbon dioxide. Carbon dioxide concentration in the atmosphere has been building up since the advent of the industrial revolution in the mid-1700s, mainly due to the burning of fossil fuels (coal, oil, and natural gas) and the cutting down of forests. Human activities have also increased the emissions of other greenhouse gases, such as methane, nitrous oxide, and halocarbons. Halocarbon emissions come from the release of certain manufactured chemicals to the atmosphere. Examples include chlorofluorocarbons (CFCs), which were used extensively in refrigeration and for other industrial processes before their presence in the atmosphere were found to cause stratospheric ozone depletion. Methane concentration has increased mainly as a result of agriculture; raising livestock (which produce methane in their digestive tracts); mining, transportation, and use of certain fossil fuels; sewage; and decomposing garbage in landfills. About 70%

Research for Career Path for BSN(only) Paper Example | Topics and Well Written Essays - 1250 words

For Career Path for BSN(only) - Research Paper Example The lack of appropriate knowledge means that nurses will, at all times, be lacking in certain areas where they are expected to perform the best. Thus, student nurses require long-term motivational aspects that will make them enjoy their profession and help people more in the future (Buerhaus, Auerbauch, and Staiger, 2009). Many who have upgraded their Registered Nurse diplomas to a bachelor’s degree have cited an improved perception of their work and an eventful stint at their work settings; the bachelor’s degree just adds the required confidence to the nurse as a way of ensuring that they perform their duty as expected. However these nurses are quickly running out of options in their career path. Nurses provide at least 80% of direct patient contact, and thus expect to be trained well and awarded career options that will serve them for long-term benefits and not for the short-term goals alone (Marsland and Hickey, 2003). Rewards have limited most people from entering t his education level and have thus led to attrition. However, this report will seek to search for three career options that a graduate holding a Bachelor of Science in Nursing (BSN) can choose. Career Options A BSN prepared registered nurse (RN) has several options from which they can choose. For the purpose of this report, the three choices are public health nurses, military service nurses and long-term care nurses (Buerhaus, Auerbauch, and Staiger, 2009). These choices are entrusted to them because it is believed that the knowledge they hold at this level can be used for national service. There are reports that show that the more knowledgeable a nurse is, the higher the chances for their patients to survive. This is because they have a greater awareness that is helpful in the increase of a substantial survival advantage. It is also statistically proven from a research carried out by Metz, Fouad and Ihle-Helledy (2009) that at least 25% of all BSN graduates interviewed want to pursu e a career in faculty role and 76% wanted to further their education to fit into the national grid. However, even as BSN they have a high chance of being recruited into the workforce and serve as nurses in the long-term care centers, as public health nurses or military nurses as they would prefer. Why These Choices It is projected that by the year 2025, the number of nurses required to serve the public will have increased to at least 1 million. The growing number of baby boomers has necessitated a review of the way nurses are registered given that at least 260,000 registered nurses will be required to cater for this increase (Buerhaus, Auerbauch, and Staiger, 2009). Further, an increase in the number of chronically ill currently placed at over 100 million, means that the current number of nurses is strained and the ill are not receiving the care they require. The increasing complexities in the medical world also require knowledgeable people in different areas who can multitask and h elp to alleviate any backlogs that may arise while ensuring the safety of the patients. Despite this increased need for nurses it is also reported by the American Association of Colleges of Nursing (AACN) that a large number of qualified undergraduate baccalaureate applicants are being turned down annually (Fang et al., 2011). They claim that the limited number of facilities as well as an inadequate number of faculties in the nursing field has limited the number of

The Unlikely Secret Agent Essay Example | Topics and Well Written Essays - 1250 words

The Unlikely Secret Agent - Essay Example Eleanor is commemorated today as a heroine in the fight of South African people against the apartheid system. This essay tries to analyze Eleanor’s involvement in the anti-apartheid movement, particularly the reasons she decided to take part in the struggle in the first place. Eleanor, as a Scottish-South African militant against the apartheid system, built ANC chambers in Scotland and criticized the UK government’s operations in Africa. In the 1960s, she met her husband after becoming a member of the ANC clandestine group. She â€Å"shared his life on the run from the security forces and in exile in Britain† (Cape Times 5). She was imprisoned without due process. Imprisoned in 1963 she fled from imprisonment and left the country secretly. Eleanor was twenty-five when law enforcers started shooting and killing protesters demanding equality and justice for black South African people, in an event that was infamously called the Sharpeville Massacre. Shocked and revolted, Eleanor took part in the Congress of Democrats, which was affiliated with the ANC, and was one of the female pioneers of the Spear of the Nation (Cape Times 5). Kasrils’s book is a heartwarming, but gripping tribute to his wife of enormous values, talent, and bravery. She was one of the very few white South Africans to secretly take part in the struggle at a time when the ANC had instigated a movement of, exactly, fiery opposition to the racially prejudiced apartheid system. Her opposition to this system and resistance to its violence and injustice were downright courageous. The tale of Eleanor, similar to the tale of the anti-apartheid campaign in general, is emotional, inspiring and remains significant. As Eleanor’s extraordinary story begins in 1963, the White system is under attack and South Africa is facing an imminent disaster. On the 15th of August, the feared security

Analyze the reading Essay Example | Topics and Well Written Essays - 2250 words

Analyze the reading - Essay Example However, as the natural law demands that each individual respect each other’s space and choices, it is also the requirement of the law that the choice individuals must be within acceptable limits that adhere to ethical and moral expectations. Given the application of the natural law, this analysis paper takes into consideration the theories of blind obedience, antislavery theory, moral truth, natural law ethical theory, and the double effect principle. One exclusion criterion in this paper involves the separation of ethics, morals, and religion. The analysis is philosophical and does not consider ethics and morals as part of religious expectations when considering natural law. In the target text, Second Treatise on Government, the author is observed arguing that the fact that the natural law exists, it is not upon the duty of anyone to be authoritative over one another. Arguing from the creation story from the Holy Bible, the author points that God is the creator of all the universe and controls how humans relate and therefore it not under anyone’s responsibility that humans have to behave in a specific manner dictated by laws and authority. However, when considering the evolution of human ethics and morals, governance developments take into consideration the author’s points that authorities include entities that have the authority and capability of punishing others if found on the wrong side of the law. Law in this case is not natural but takes into consideration the natural law. Since natural law considers everyone equal and having the right to live without being disturbed, the civil law on the other hand aims at controlling how people or members of the society interact with each other as well as punishing those who take the natural law’s rights form others. With the possibility of imprisonment, execution, and hard labor; it is the order of the authorities through constituted law to

Strategy for Mega Bastard Corporation - Bionic Limbs Essay

Strategy for Mega Bastard Corporation - Bionic Limbs - Essay Example How fancy is that? The most important factors to consider in the introduction of bionic limbs is the strategic management variable involved in product and business development. Namely; Market entry, research and development, pricing, designing the product and competition prosthetic limbs producers. MBC will most probably benefit from a market segment of people interested in comic books, superhero movies and video games. The macro environment directly related to competition. DEKA is an example of prosthetic limb maker. They have made progress in making bionic arms, which basically gives MBC the advantage of differentiating their market segment to only limb/ legs bionic material. The market analysis will assume that MBC management has taken care of the approval process through the Food and Drug Administration body. MBC has two choices, either to enter the market or not to enter the bionic market. Now does not enter the bionic limbs market, then their competitors will obviously maintain the status quo and barely change the prices of bionic limbs. However, if MBC enters the market, then its potential competitors will definitely start a price war and that may affect the level of sales of bionic limbs. MBC will obviously be a credible threat to existing competitors in this monopolistic market as noted by Baines & Fill (2014). MBC already has the technology for making the bionic limbs, hence labour cost for the business and product development is greatly minimized and the only challenge will be for the management to identify a profitable market segment for their product. Getting a priced contract with competitors can always help MBC avoid any price wars that may emerge after they introduce their bionic limb. This is basically done by MBC paying a premium to a specific competitor and in exchange, the competition won’t start a price war against MBC. For MBC to effectively market the bionic limb, the product must be FDA approved in order to gain considerable favour even in the ‘villain’ market segment.  Ã‚  

Analyze the reading Essay Example | Topics and Well Written Essays - 2250 words

Analyze the reading - Essay Example However, as the natural law demands that each individual respect each other’s space and choices, it is also the requirement of the law that the choice individuals must be within acceptable limits that adhere to ethical and moral expectations. Given the application of the natural law, this analysis paper takes into consideration the theories of blind obedience, antislavery theory, moral truth, natural law ethical theory, and the double effect principle. One exclusion criterion in this paper involves the separation of ethics, morals, and religion. The analysis is philosophical and does not consider ethics and morals as part of religious expectations when considering natural law. In the target text, Second Treatise on Government, the author is observed arguing that the fact that the natural law exists, it is not upon the duty of anyone to be authoritative over one another. Arguing from the creation story from the Holy Bible, the author points that God is the creator of all the universe and controls how humans relate and therefore it not under anyone’s responsibility that humans have to behave in a specific manner dictated by laws and authority. However, when considering the evolution of human ethics and morals, governance developments take into consideration the author’s points that authorities include entities that have the authority and capability of punishing others if found on the wrong side of the law. Law in this case is not natural but takes into consideration the natural law. Since natural law considers everyone equal and having the right to live without being disturbed, the civil law on the other hand aims at controlling how people or members of the society interact with each other as well as punishing those who take the natural law’s rights form others. With the possibility of imprisonment, execution, and hard labor; it is the order of the authorities through constituted law to

Direct Democracy Essay Example | Topics and Well Written Essays - 750 words

Direct Democracy - Essay Example Direct Democracy is a form of government in which all citizens can directly participate in the decision-making process. (Direct Democracy Campaign, Wikipedia, the free encyclopedia). Daniel B. Jeffs, founder, The Direct Democracy Center, states that the problems are due to the Government being too large and too dangerously powerful. He firmly believes that elected representatives are corrupted by a deeply flawed system that seduces them with money and power to gain and remain in office, or seek higher office and that in this process it has disenfranchised the overall electorate. Finally, he states that this system needs to be altered in such a way that it will override the practice of selective democracy by factions and vested interests. The solution according to him lies in nonpartisan elections and government with more democracy. In this age of communications and information technology, the Constitution should be amended so as to establish direct democracy by means of secure voting networks connected to voter's homes. All elections would be conducted over the voting networks. In this proposed system the elected representatives would be nonpartisan, highly qualified professional government managers. To keep it honest, with no more government than we need, well-informed voters should decide matters of taxation and public policy. And the collective judgment of our fellow citizens (which could be trusted because the direct democracy voting networks would require voters to be truthfully informed) would know what is best for all of us. (Daniel B. Jeffs, The Direct Democracy Center). The advantages of Direct Democracy are that first, it would remove the barrier between the electorate and the government. Secondly, in Representative Democracy the voter has to vote for one party or the other with no guarantee of either party addressing the issues facing the voter, on the other hand in Direct Democracy the voter will be voting on each issue separately. Thirdly, decisions will always be that of the people rather than that of a few politicians. Fourthly, it encourages people to be more proactive in the political process, this results in a more deterministic future for the voter. Fifthly, it curbs the power of the elite. Sixthly, the practice of elected representatives following the diktats of party leaders and civil servants to the detriment of the voter will cease. Seventhly, quid - pro - quo transactions between the elected representatives and the rich and powerful pressure groups will cease altogether. Eighthly, thorny and uncomfortable issues which elected represen tatives would do anything to avoid, will be addressed by this system. Ninthly, there would be control on governmental tendencies running towards the dictatorial. And finally, the system of Direct Democracy is more democratic. (Direct Democracy Campaign). The disadvantages of Direct Democracy are that: first, all citizens must be actively involved on all issues all of the time. For very large population groups, it might become well nigh impossible to do so. Secondly, the public generally gives only superficial attention to political issues and is thus susceptible to charismatic arguments. Thirdly, the decision of all or most matters

Social Reactions To Interracial Relationships

Social Reactions To Interracial Relationships The United States Supreme Court In 1967 ruled that Virginias anti-miscegenation laws were not in accord with the principles set forth in the constitution of the state and put a stop to all of the legal restrictions that were in place against marriages amongst mixed race (Erin, 2005). Since that time there has been a remarkable increase in the number of marriages amongst mix race in the United States (Lewis and Yancey, 1997), and the figures of interracial couples has also become twice as much every decade since 1960 (Killian, 2002). Statistics show that currently there are about 3 million interracial marriages, which make up 5% of all marriages in the United States, and another 2.5 million mix race couples that are dating (Hibbler and Shinew, 2002). Interracial marriages can include the combination of White, Blacks, Asians, Hispanics, and any other group. However, when people talk about interracial relationships, the first things that mostly come to their mind is relationships amongst black and white (Vernellia, 1998). The rate of growth of interracial marriages is increasing by the day. In particular, the kind of interracial intermingling involving Blacks and Whites has been constantly changing. Immediately after Emancipation, the figures of black and white interracial relationships increased, got to its peak in 1900, and subsequently decrease till 1940. However, this form of union is still the least common type of mix race union (Davidson, 1992), even though the Black and White intermarriages has been on the increase since the 90s (Tucker and Mitchell-Kernan, 1990). There are a lot of reasons for the sharp increase in the figures of the different form of interracial marriages. One of the reasons is the Supreme Court decision in 1967 that made anti- miscegenation laws unconstitutional (Kalmijn, 1993). The close in the gap narrowed down between Blacks and Whites education, occupation and income (Kalmijn, 1993). Also, data from National Center for Health Statistics indicates the decrease in Whites prejudice against Blacks (Kalmijn, 1993). Further more, the increase in interracial marriage can be linked to the progress made by the Civil Rights movement, the increase in opportunities afforded Black people, and the increase in social contact between the races (Davidson, 1992). This research aim at reviewing the historical background of interracial relationship both interracial dating and marriage, and also factors attributed to relationships amongst mix race. This research also focuses on the opinions of the youth to interracial relationship in the 21th century. In general, the main aim of this piece is to examine interracial relationships, whether marriage or casual dating and the attitude of the youths towards it, taking foreign pre- masters students at ICRGU from different regions as samples. The reason for the study of different forms of relationships is because some individual rather prefer to go into a causal date, than going into a serious relationships that might lead to marriage. But this research will not only look at attitude towards interracial relationships from perspective of preference. It will look at possible points of meeting a person from another region or origin, and what might probably propel someone into such relationship base on pers onalities and compatibility. The research questions are as follows: What are the attitudes of the youths towards relationship amongst mix race in the 21th century? How popular is relationships amongst mix race. Factors affecting relationships amongst mix race. LITERATURE REVIEW This section of review on the interracial relationships will basically focus on three major tittles, which are The characters of those going into interracial relationships Theories why people marry outside of their race taking blacks and whites form of union as study sample. Social reactions to interracial relationship. To start with, characteristics of those in interracial relationships, in terms of marriage, research shows that people who interracially marry tend to be younger, likelihood of being married before, live in developed environment like cities or town, or are older in age from their spouse compared to people who married within their own race (Erin, 2005). Research founds that male and female within a particular racial group to an extent have different tendency to get married to someone outside their racial group (Erin, 2005). For instance, Black male have high records of interracial compared to black females. Also, Japanese and Native American woman have much higher numbers of interracial marriages compared to their male counterparts (Erin, 2005). In the U.S interracial marriages currently are highest in the west and lowest in the southern region. However, Hawaii breaks the normal trends of interracial marriages. Hawaii has a unique racial makeup in that no single racial group makes up more than 25% of the population and nearly 40% of all marriages interracial (Solberry, 1994). Therefore, it is significant to note that interracial couples tend to often move to more hospitable areas of the country (Tucker and Mitchellkernan, 1990). Further more, many theories have been established to explain the reasons behind people getting married to race other than their race, and success of such marriage to stand test of time. Structural theory states that marriages among mix race is more frequent in areas where community structure have been kept in place to support and authorize interracial marriages, and also community were there is increase in awareness of peoples personal decision to go into such a union. Recent attention given to interracial marriage in the media and in popular literature along with more people living and working in more integrated environments has lead to an increased acceptance of heterogeneous relationships (Hibbler and Shinew, 2002). Another predominant theory on reason people chose to marry outside of their race is the social exchange theory. Using Black-White interracial marriage for instance, social exchange theory states that when White women marry Black men, who usually are of higher economic status, they exchange the prestige of their skin color for the Black husbands higher economic status (Davidson, 1992; Kalmijn, 1993; Lewis and Yancey, 1997). However, Black women have been found to marry down in both interracial and same race unions, which seem to prove that Black-White interracial marriage is more complex than just an exchange of status (Foeman and Nance, 1999). An additional theory, which attempts to account for the union of interracial relationships, is the racial motivation theory (Kouri and Lasswell, 1993). The racial motivation theory states that many interracial marriages take place because of racial differences, not in spite of them (Kouri and Lasswell, 1993). From this view, it can be said that curiosity about differences in race, increases sexual interest or attraction to someone not of same race. This theory also says that those who intermarry may be acting in rebellion against social norms of racial endogamy and using the marriage as a way to state their independence (Kouri and Lasswell, 1993). Finally, there has been a change in the societal view of interracial marriages. Many studies have shown that there is less pressure in society today to have racially homogeneous relationships than in the past (Lewis Yancey, 1997). Never the less there are still some discriminations in some form of interracial union. Using the union of Black and White for instance, recent studies still suggest that the Black-White interracial union, especially the Black male-White female union, is still the most negatively viewed relationship type (Norment, 1994). There have been many researches on the history of discrimination against Black-White Interracial union. Today, the relationship between Blacks and Whites is seen as different from that of other minorities. When one speaks of race relations in America, the majority of people immediately think of the struggles between Black and White people (Killian, 2002; Wright et. al, 2003). Despite the dramatic increase in Black-White marriages, they are still the least favorable form of interracial marriage in America (Wade, 1991), and they are still considered to be a taboo subject by some (Harris and Kalbfleisch, 2000). According to survey carried out among Blacks and White marriage, in the study of 270 interracial couples, it was found that nearly half reported that marrying someone not from their race makes marriage difficult, while about two thirds reported that at least one of the parent objected to their marriage (Fears and Deane, 2001). Although there is increase in the tolerance of interracial couples, there are still powerful forces in society that make Black-White interracial marriage hard and unappealing (Dainton, 1999). Many Black-White interracial couples report that they face discrimination from members of their own particular race; European Americans view them as being too Black and African Americans view them as being not Black enough (Orbe, 1999). Another source of discrimination for those in interracial marriages is often the family. The majority of people in interracial marriages have said that they have had to face one or both parents express serious concern to outright disapproval of their choice to marry interracially. Most of the time , this disapproval are always expressed verbally, and in the case where couple goes on with the marriage, some certain members of the family not in support of the union might refuse to attend any important event organized by the couples, such as wedding, holiday celebrations, family reunion or even family visitation. In some extreme cases, members of interracial marriages have reported having lost all contact for years at a time with once close members of their families (Luke and Carrington, 2000). But, one part of the twos couples tend to be more acceptant than the other. Studies have also found that acceptance of interracial marriages is increasing at a rapid rate and an increasing number of interracial couples are reporting that their families have openly accepted their interracial relationship, and they feel comfortable speaking about their relationship in public (Fears Deane, 2001, Rosenblatt et. al., 1995). However, attitudes towards interracial relationships have been found to vary based on race, age, and gender. In a study of Black and White people between the ages of 21 and 40, it was reported that men have more positive attitudes towards interracial relationships compared to women, and also those that are younger have more favorable views on interracial relationships (Datzman and Gardner 2000). It was also found that the families of the Black partner in interracial relationships tend to be more accepting and supportive than the families of the White partner (Hibbler and Shinew, 2002). In another study eighty-six percent of Black respondents said that their families would welcome a White person into their family compared to only 55% of White respondents who said their families would welcome a Black person into their family (Fears Deane, 2001). This research however is not just about interracial relationships among blacks and white, the review is to build up facts associated with interracial relationship considering researches already done on different topics on interracial relationships which can help answer some of the research questions. This research aims at cutting across all forms of interracial relationships, and types of relationships, whether causal dating or marriages and associated factors that influences the opinion of people towards going into it. Also, it aims at finding the opinion of the youth towards interracial relationships in the 21th century. METHOLOGY The research targeted at getting the opinions and attitudes of the youths towards interracial relationships, whether just casual dating or marriages. Considering the limitation both time and resources, the research were conducted among international students of ICRGU who are from different parts of the world, namely, China, Nigeria and Kazakhstan. The final sample of students consist of 4 Chinese (1 males, 3 females), 3 Nigerians (2 males, 1 female), and 3 Kazakhstanis (1 male, 2 females), all between the age of 20-35. None of the participant is married. Interviews were conducted on each of the participants to explore their attitudes toward interracial relationships. Qualitative data were collected by the means of follow-up interviews with the respondents who participated in the survey. The interviews with the respondents were semi- structured interview, including general questions as well as sets of questions for individuals who either have family members or friends, or know someone who was is into interracially relationship. Generally, all the questions aimed at getting disposition towards interracial relationships, and also general opinion towards interracial relationships. DISCUSSION Over the decades now, many studies have been made on interracial relationships and so far shown many controversies. The study on interracial relationships is a wide study, but very interesting study. This research however focused on the opinion of the youths towards interracial relationships, and has been proven that there is increase in the awareness of youth towards interracial relationships, unlike in the past. The table 1 shows the numbers of participants both male and female who took part in the survey, and their opinion on whether they can go into a relationship with someone not of their race. About 60% agreed they can go into interracial relationships, while about 20% disagree not to going into interracial relationships. 20% percent others would want to, but are restricted because of some factors like family acceptance or their culture. Table 2, shows the participants general opinion towards interracial marriages, and from the table, there is a trend of acceptance in some region compared to other regions. Fig 2.1 and 2.2 shows the percentages of both male and females opinions towards interracial marriages. Figure2.1 shows individual dispositions towards interracial marriage and about 60% sounded positive of getting married to someone outside their race, and about 40% wouldnt want to get married to someone not from their race. Figure 2.2 shows the general opinion on interracial marriages, and about 90% feels nothing is wrong in going into interracial marriages, while about 10% feels interracial marriages isnt ideal. Even with challenges faced in interracial relationship, its still something one can rule out from happening. According to Mr. John, he feels with high speed travel and communication technology in this age of globalization interracial marriages will always happen irrespective of the family, cultural believes, or societal opinion. But he feels to preserve culture, interracial marriage is not ideal. Miss Ama also feels marriage has nothing to do with culture or believes. She feels as long as there is love and the both parties understand themselves, marrying each other shouldnt be a problem. She also didnt rule out difficulties that might come with the marriage such as language barriers but she said if the 2 parties are strong enough to overcome the challenges that will make them strong. Generally, from the research, it was observed most believe interracial relationships have to do with the personal decisions and feeling. According to Miss Beauty, she feels going into interracial relationship is a personal thing. She also said as long as there is respect and happiness, there is nothing wrong about interracial relationships. To add to this, Miss Ama said feeling is a thing of the mind irrespective of color, culture or religion , you dont expect it, it just happens. When happens and you feel the person is the right choice for you, you just go for it. One of the limitations in this research is the time frame. The time frame to complete this research isnt long enough to get more samples for analyzing the topic in context. The research was restricted to little numbers of participants and limited questions to elaborate more on the factors affecting opinions so as to have enough time to execute the aim of the research. However, with previous review on related research, the aim of the research was accomplished. Another limitation was the numbers of different regions availably. In the pre masters class of ICRGU where the survey was carried out, presently have students mainly from 3 countries namely, Nigeria, China, and Kazakhstan. The effect of this is that, there were limitations to cultural behaviors and believes considering the topic was generally on opinion of the youths in the 21th century, and just 3 countries were available for the survey. CONCLUSION An interracial relationship is where there is marriage, sexual or romantic relations between individuals of different races. In the past, interracial marriages were in fact taboo in some parts of the world, but with globalization there has been a change in ideology about interracial relationship. From the result of the survey, it suggests that there is increase in the awareness of interracial relationships. It also suggests there is an increase in the acceptance of going into a relationship with someone of different race. However, there are still some believes that interracial relationships, especially marriage if encourage, could lead to cultures being eradicated, in this light very few persons wont support such union so as to preserve culture. The finding in the studies also shows that about 90% of the participants feel there is nothing wrong in going into interracial relationships, as long as both parties love each other and have reasons to want to go into such relations, and also can solve their differences. There are some attitudes common to the participants of this survey which are, All participants are in their 20s and are all international students of ICRGU who are from different countries, and might want to try something new. They have been opportune to meet with other students from other countries. Considering might be the first time most of them have the opportunity to meet different people with different culture, color, background and country. They believe as long as the 2 parties are willing to pass the huddles, there is nothing wrong in interracial relationships Lastly, they feel relationship is the thing of the heart. It has nothing to do with color, culture or country. As long as the two parties can cope with their differences. There are a lot of controversies on interracial relationships because believes of every individuals varies. But according to this research, it can be said to some extent that interracial relationships is somehow accepted and there is increase in awareness. In light of the increasing rates of interracial relationship and the opinion of people towards it, there is still a great deal of research that needs to be done on this topic. One of the researches needs to discuss more on the success of interracial marriages.

Analysis of The Shining, by Stanley Kubrick Essay -- Film Analysis

What is horror? Webster's Collegiate Dictionary gives the primary definition of horror as "a painful and intense fear, dread, or dismay." It stands to reason then that "horror fiction" is fiction that elicits those emotions in the reader. An example of a horror film is "The Shining", directed by Stanley Kubrick. Stanley Kubrick was a well-known director, producer, writer and cinematographer. His films comprised of unique, qualitative scenes that are still memorable but one iconic film in his collection of work is The Shining. Many would disagree and say that The Shining was not his best work and he could have done better yet, there are still those who would say otherwise. This film was not meant to be a â€Å"scary pop-up† terror film but instead, it turned into a spectacular psychological, horor film in which Kubrick deeply thought about each scene and every line. Stanley Kubrick was born July 26, 1928 in Bronx, New York. As a young boy, he enjoyed photography which sparked his love for filming. His father, Dr. Kubrick, had inspired young Kubrick to use his Graflex Camera to take pictures of anything he desired to keep memories of. This was later transformed as young Kubrick’s hobby. Growing up into his teenage years, Kubrick had gone to the movie theater almost more than attending high school. He would watch movies over and over and still be amused by the film even if it was not a good film. With this critical view of the films he was watching, he began to think that he could make a better film compared to what he was watching. Eventually, with the compassion for photography the Kubrick had, he had sold one of his pictures to Look magazine. Look magazine hired him as a freelance photographer and with the money he saved up, Kubrick... ... Works Cited Ciment, Michel. Kubrick: The Definitive Edition. New York: Faber and Faber, 2001. Print. Connelly, D.D.S. Thomas P. "How to Prevent Your Child From Thumb Sucking." The Huffington Post. TheHuffingtonPost.com, 25 May 2010. Web. 25 Nov. 2015. "The Internet Movie Script Database (IMSDb)." Shining, The Script at IMSDb. N.p., n.d. Web. 24 Nov. 2015. Konow, David. "The Shining and The Steadicam." Tested RSS. N.p., 16 Aug. 2013. Web. 27 Nov. 2015. LICSW, Terry Gaspard MSW. "Vulnerability: The Secret to Divorce-Proofing Your Relationship." The Huffington Post. TheHuffingtonPost.com, 30 Sept. 2013. Web. 24 Nov. 2015. LoBrutto, Vincent. Stanley Kubrick: A Biography. New York: Da Capo, 1999. Print. Stanley Kubrick's The Shining. Dir. Stanley Kubrick. Perf. Jack Nicholson, Shelley Duvall, and Danny Lloyd. Warner Home Video, 1980. DVD.

Nisa: The Life and Words of a !Kung Woman by Marjorie Shostak :: Nisa: The Life and Words of a !Kung Woman

â€Å"Nisa: The Life and Words of a !Kung Woman† by Marjorie Shostak   Ã‚  Ã‚  Ã‚  Ã‚  In the book, â€Å"Nisa: The Life and Words of a !Kung Woman,† written by Marjorie Shostak; is a culturally shocking and extremely touching book about a woman who had gone through many struggles and horrific tragedies in her life. This book also emphasizes the perspective of most of the women in the society. There are many striking issues in this book that the people of the !Kung tribe go through.   Ã‚  Ã‚  Ã‚  Ã‚  Marjorie Shostak, an anthropologist who had written this book had studies the !Kung tribe for two years. Shostak had spent the two years interviewing the women in the society. The !Kung tribe resided n the Dobe area of Northwest Botswana, that’s infused with a series of clicks, represented on paper by exclamation points and slashes. Shostak had studied that the people of the tribe relied mostly on nuts of the mongongo, which is from an indigenous tree that’s part of their diet.   Ã‚  Ã‚  Ã‚  Ã‚  Shostak, out of all the women in the tribe had made close connections with a fifty year old woman with the name of Nisa. The woman, Nisa, is what the book is about. The book is written in Nisa’s point of view of her life experiences while growing up in that type of society. Nisa’s willingness to speak in the interviews about her childhood and her life gave Shostak a solid basis on what to write her book on. Nisa’s life was filled with tragedies. She had gone through certain situations where Nisa loses two of her children as infants and two as adults. She had also lost her husband soon after the birth of one of their children. According to Shostak, â€Å"None of the women had experiences as much tragedy as Nisa†¦Ã¢â‚¬  (Shostak, 351).   Ã‚  Ã‚  Ã‚  Ã‚  Shostak, when interviewing Nisa, considers that in the beginning of the book, Nisa seems to exaggerate the stories from when she was an infant. Although the stories are exaggerated by Nisa, a lot of women can relate to her life even with the geographic distance between them or if the society is completely different. Women of the same age can relate to Nisa, or if they went through the same situations like her. Certain women, even in America, have gone through a situation where they had to bury their own child or if they have lost a husband.   Ã‚  Ã‚  Ã‚  Ã‚  This book had first started out by introducing the readers to what this book is going to sound like, which was the Introduction. Nisa: The Life and Words of a !Kung Woman by Marjorie Shostak :: Nisa: The Life and Words of a !Kung Woman â€Å"Nisa: The Life and Words of a !Kung Woman† by Marjorie Shostak   Ã‚  Ã‚  Ã‚  Ã‚  In the book, â€Å"Nisa: The Life and Words of a !Kung Woman,† written by Marjorie Shostak; is a culturally shocking and extremely touching book about a woman who had gone through many struggles and horrific tragedies in her life. This book also emphasizes the perspective of most of the women in the society. There are many striking issues in this book that the people of the !Kung tribe go through.   Ã‚  Ã‚  Ã‚  Ã‚  Marjorie Shostak, an anthropologist who had written this book had studies the !Kung tribe for two years. Shostak had spent the two years interviewing the women in the society. The !Kung tribe resided n the Dobe area of Northwest Botswana, that’s infused with a series of clicks, represented on paper by exclamation points and slashes. Shostak had studied that the people of the tribe relied mostly on nuts of the mongongo, which is from an indigenous tree that’s part of their diet.   Ã‚  Ã‚  Ã‚  Ã‚  Shostak, out of all the women in the tribe had made close connections with a fifty year old woman with the name of Nisa. The woman, Nisa, is what the book is about. The book is written in Nisa’s point of view of her life experiences while growing up in that type of society. Nisa’s willingness to speak in the interviews about her childhood and her life gave Shostak a solid basis on what to write her book on. Nisa’s life was filled with tragedies. She had gone through certain situations where Nisa loses two of her children as infants and two as adults. She had also lost her husband soon after the birth of one of their children. According to Shostak, â€Å"None of the women had experiences as much tragedy as Nisa†¦Ã¢â‚¬  (Shostak, 351).   Ã‚  Ã‚  Ã‚  Ã‚  Shostak, when interviewing Nisa, considers that in the beginning of the book, Nisa seems to exaggerate the stories from when she was an infant. Although the stories are exaggerated by Nisa, a lot of women can relate to her life even with the geographic distance between them or if the society is completely different. Women of the same age can relate to Nisa, or if they went through the same situations like her. Certain women, even in America, have gone through a situation where they had to bury their own child or if they have lost a husband.   Ã‚  Ã‚  Ã‚  Ã‚  This book had first started out by introducing the readers to what this book is going to sound like, which was the Introduction.

Explain The Benefits Of Actively Promoting Positive Aspects Of Behaviour

Explain the benefits of actively promoting positive aspects of behaviour. Positive behaviour is strongly linked to respect for others and what is generally accepted as ‘good' behaviour tends to be centred on this. Positive behaviour is about learning self-control and consideration for the needs of others. The Social Learning Theory is based on the fact that children will adopt the behaviour of the adults around them. In other words setting a good example is the first thing all adults should try to do in working with young children. If we deal aggressively with them they will respond in an aggressive way also.If we always remember to say please and thank you they are more likely to do so and if we encourage and reward sharing and caring they will accept this as positive behaviour. The Behaviourist Theory suggests that children will respond best to positive reinforcement, in other words rewards. The attention of adults is important to children and some learn that the only way to get attention is by exhibiting negative behaviour. The only time they feel noticed is when they are being chastised for unwanted behaviour. Their logic tells them that in repeating the unwanted behaviour they will get more attention.If we try to ignore negative behaviour (as far as is safe to do so) but reward positive behaviour then the child learns that more attention is gained through being ‘good'. This can be done by using sticker charts†¦. only appropriate behaviour gets a sticker but never remove a sticker that has been earned for good behaviour as this is discouraging to the child. Praising a child for the positive behaviour is sometimes all that is needed to show that we have noticed and will reinforce their behaviour so it is important to do this frequently. Even a smile is enough in some cases.Self-Fulfilling Prophesy Theory is based upon the view the adult takes of a child. If a child is constantly told they are ‘bad' or ‘naughty' they often come to consider themselves as just that and resign them to becoming nothing better. If we have to discipline a child in any way the language we use must be chosen carefully so as not to label the child but to label the behaviour as unacceptable. Having a good, well organised routine will help children to feel more secure and the less stressed they are in a situation the more likely they are to exhibit positive behaviour.Setting clear boundaries and explaining them to the children also gives them a better understanding of what you expect. The children could contribute to this process by adding to lists of rules, thereby giving them ownership of what is appropriate and what is not. They are more likely to conform to boundaries if they understand what their peers find unacceptable and the reasons why there is a need for boundaries. Being well organised will also mean that the children are constantly on task and not left without a meaningful activity to occupy them.Make them responsible for c ertain activities as this will give them a sense of involvement and ownership. Ensure that there is plenty of supervision of activities so that any negative behaviour is nipped in the bud before it becomes an issue. In short be a positive role model, make use of positive reinforcement, be consistent, be well organised/planned, have clear boundaries and above all else be patient, understanding, attentive and aware of the developmental stage of each child in your care.

Commercial Banking

Assignment 1 Executive Summary The purpose of this report is to evaluate the performance of both Hong Leong Bank and its peer bank RHB Bank for the financial year ended in 2010. The DuPont model is used to provide the information on the bank’s liquidity, profitability, efficiency and leverage status that allows financial analyst to evaluate on the performance of the bank as a result of the changes of these factors. A trend comparison for year 2010, 2009 and 2008 is conducted and evaluated its respective ratios and other financial data.The peer comparison of financial ratios between RHB Bank & Hong Leong Bank is evaluated and analysed to see which bank performs better in 2010. The other key ratios are also calculated in for deep analysis on to see how well these two banks in Malaysia perform in 2010. In addition, its credit risk that includes the risk management and its policy of both banks is then evaluated and compared to see which bank manages its credit risk properly.Fi nally, this report provides an overview of the performance of both RHB Bank and Hong Leong Bank for the financial year ended in 2010 and conclude which bank perform better in terms of various financial ration and management of credit risk. II II Assignment 1 Part A: Bank Performance Question 1: Dupont Model: a. Dopont Model: The DuPont model analysis is a common form of financial statement analysis and this model provides information on the bank’s liquidity, profitability, efficiency and leverage status that allows financial analyst to evaluate on the performance of the firm as a result of changes in one or more of these actors (Milbourn & Haight, 2005). According to Narayanan (2010), the DuPont model provides a starting point to determine the strength and weakness of the firm. It is also a very powerful financial tool to assist financial analyst, shareholders, investors and bankers in understanding the profitability of the firm and a tool that evaluate the firm’s financial statements by comparing the relationships within the income statement and balance sheet, or between the two statements. (Milbourn & Haight, 2005). The DuPont Model starts with the return of equity (ROE).The ROE is a strong measure on how well the management of the bank creates value to the shareholders (Pinsent, 2010). It is also a good starting point in the analysis of a bank’s financial condition. ROE is calculated by dividing the net income by total equity (Gup, Avram, Beal, Lambert & Kolari, 2007). The formula is as follows. ROE= Net incomeEquity According to Gup et at, (2007), the ROE ratio is equal to the Return of Assets (ROA) ratio times the Leverage multiplier that shows the dollar amount of assets that are financed by each dollar of the equity. The leverage multiplier is one indicator of financial leverage.ROE=ROA x Leverage Multiplier Net IncomeEquity = Net IncomeTotal Assets x Total AssetsEquity Leverage multiplier shows the extent to which the b ank relies on debt financing. The higher the leverage multiplier, the more debt the bank is carrying. Leverage Multiplier= Total AssetsEquity The Return of Assets (ROA) measures the bank profits as a percent of its assets and also measures the ability of the firm to use the real financial resources of the bank to generate revenue. It is commonly used to evaluate bank management (Gup et al, 2007). ROA is calculated by dividing net income y total assets. ROA= Net IncomeTotal Assets In the DuPont model analysis, the ROA is expended into another equation: Net IncomeTotal Assets = RevenueTotal Assets x Net IncomeRevenue Thus the DuPont model translates the ROA equation into the following: ROA=Asset Utilisation x Net Profit Margin The net margin ratio shows how much profit the bank makes for every $ 1. 00 it generates from the revenue. Generally, the higher the ratio, the better the net margin. In order to obtain more revenue, most banks will want to reduce the net income to achieve a hig her net margin ratio.Net Margin= Net IncomeRevenue The asset utilisation shows the amount of income the bank generated for every dollar worth of the assets available. This shows the bank’s efficiency in utilising the assets. Basically, the higher the asset turnover, the better the firm use the assets. Asset Turnover= RevenueTotal Assets In order for the bank to increase the ROE, banks need to increase their credit risk; this can be done by providing more loans to customers and subsequently, the bank will earn more income. This will in turn increase the ROA and the same time increases the ROE.Limitations of the Dupont model analysis: * It is based on accounting numbers, which are basically not reliable. * it does not include the Cost of Capital. * Garbage in, garbage out. Assumptions of the DuPont method: * Accounting numbers are reliable. b. Dopont Model Analysis: i. & ii. Trend Comparison of Hong Leong and RHB (2008, 2009 & 2010): Hong Leong Bank’s data: | 201 0| 2009| 2008| | RM’000| RM’000| RM’000| Revenue| | | | Interest income| 2,592,586| 2,937,002| 3,064,785| Non-interest income| 506,979| 511,537| 501,067| Total| 3,099,565| 3,448,539| 3,565,852| | | | | Operating costs| | | |Interest expense| 1,209,792| 1,579,883| 1,688,293| Non-interest expense| 831,139| 806,030| 786,194| Total| 2,040,931| 2,385,913| 2,474,487| | | | | Net profit| 767,817| 659,678| 838,874| Total assets| 77,730,208| 70,732,513| 69,992,756| Equity| 5,815,063| 5,319,288| 4,923,133| RHB Bank’s Data | 2010| | RM’000| Revenue| | Interest income| 4,530,637| Non-interest income| 722,818| Total| 5,253,455| Operating Cost| | Interest Expense| 1,811,153| Non-interest Expense| 1,302,007| Total| 3,113,160| | | Net profit| 1,294,437| Total assets| 105,179,231| Equity| 8,397,474| Dupont Model of Hong Leong Bank 2010| 2009| 2008| Return On Equity: Net incomeEquity| RM767,817,000RM5,815,063,000= 13. 20%| RM659,678,000RM5,319,288,000= 12. 40%| RM83 8,874,000RM4,923,133,000= 17. 04%| Leverage Multiplier:Total AssetsEquity| RM77,730,208,000RM5,815,063,000=13. 37times| RM70,732,513,000RM5,319,288,000= 13. 30times| RM69,992,756,000RM4,923,133,000= 14. 22times| Return On Assets:Net IncomeTotal Assets| RM767,817,000RM77,730,208,000= 0. 99%| RM659,678,000RM70,732,513,000= 0. 93%| RM838,874,000RM69,992,756,000= 1. 20%| Asset Utilization:RevenueTotal Assets| RM3,099,565,000RM77,730,208,000= 3. 9%| RM3,448,539,000RM70,732,513,000= 4. 88%| RM3,565,852,000RM69,992,756,000= 5. 10%| Net margin:Net incomerevenue| RM767,817,000RM3,099,565,000= 24. 77%| RM659,678,000RM3,448,539,000= 19. 13%| RM838,874,000RM3,565,852,000= 23. 53%| Dupont Model of RHB Bank | 2010| Return On Equity: Net incomeEquity| RM1,294,437,000RM8,397,474,000=15. 41%|Leverage Multiplier:Total AssetsEquity| RM105,179,231,000RM8,397,474,000=12. 53times| Return On Assets:Net IncomeTotal Assets| RM1,294,437,000RM105,179,231,000=1. 23%| Asset Utilization:RevenueTotal Assets| RM5, 253,455,000RM105,179,231,000=4. 9%| Net margin:Net incomerevenue| RM1,294,437,000RM5,253,455,000=24. 64%| c. Analysis and Discussion: Trend comparison of Hong Leong Bank Ratio| 2010| 2009| 2008| Net margin| 24. 77%| 19. 13%| 23. 53%| Asset utilisation| 3. 99%| 4. 88%| 5. 10%| Return on assets| 0. 99%| 0. 93%| 1. 20%| Leverage multiplier| 13. 37times| 13. 30times| 14. 22times| Return on equity| 13. 20%| 12. 40%| 17. 04%| Hong Leong Bank’s net margin is higher in year 2010 (24. 77%) compared to the year 2009 (19. 13%) and year 2008 (23. 53%). It means that operating costs are relatively lower in year 2010 compared to year 2009 and year 2008.Operating costs in the year 2010, 2009 and 2008 are RM2,040,931,000, RM3,448,539,000 and RM2,474,487,000 respectively. This indicates that operating costs are well controlled by Hong Leong Bank in 2010 compared to 2009 and 2008. Thus this shows that the bank run their operations effectively in 2010 that increased its profitability. Hong Leon g Bank’s asset utilisation is lower in year 2010 (3. 99%) compared to the year 2009 (4. 88%) and 2008 (5. 10%). It decreased constantly from year 2008 to 2010. The decline in the figures shows that beginning in the year of 2009, the bank did not utilise much of its assets to generate more revenue.Therefore revenue was decreasing from 2008 to 2009. Revenue for the year 2010, 2009 and 2008 are RM3,099,565,000,RM3,448,539,000 and RM3,565,852,000. This shows that the bank well utilised the assets to generate revenue in 2008 compared to 2010. Hong Leong Bank’s return on assets is lower in year 2010 (0. 99%) compared to the year 2009 (0. 93%) and 2008 (1. 20%). This shows that Hong Leong Bank did not do well in managing and utilising its asset base in 2010. Hong Leong Bank’s leverage multiplier decreased from the year 2008 (14. 22times) to year 2009 (13. 30times) and increased back in year 2010(13. 7times).This implies that Hong Leong Bank does not depend too much on debt financing in their activities and carried less debt in their operations in 2009 compared to year 2010 and 2008. Thus, Hong Leong Bank was exposed to more risk in 2008 compared to year 2010. Hong Leong Bank’s return on equity decreased from year 2008 (17. 04%) compared to year 2009 (12. 40%) and increased back in year 2010 (13. 20%). This implies that it did not manage and utilise its equity base and therefore the investors did not get a better return from the Hong Leong Bank in 2010.Overall, Hong Leong Bank performance on profitability was better in 2008 compared to the year 2009 and 2010. Peer comparison Ratio| Hong Leong Bank| RHB Bank| Net margin| 24. 77%| 24. 64%| Asset utilisation| 3. 99%| 4. 99%| Return on assets| 0. 99%| 1. 23%| Leverage multiplier| 13. 37times| 12. 53times| Return on equity| 13. 20%| 15. 41%| Hong Leong Bank’s net margin (24. 77%) is higher than RHB Bank’s (24. 64%). It means that RHB Bank’s operating costs are relatively hig her. RHB Bank’s operating costs are RM3,113,160,000 whereas Hong Leong Bank’s operating costs are RM2,040,931,000.Thus, RHB Bank’s operating costs are higher by RM1,072,229,000. This indicates that operating costs are well controlled by Hong Leong Bank compared to RHB Bank. RHB Bank’s asset utilisation (4. 99%) is higher than Hong Leong Bank’s (3. 99%). This shows that RHB Bank used most effectively of its assets to generate more revenue than Hong Leong Bank. RHB Bank’s revenue is RM5,253,455,000 which is higher than Hong Leong Bank’s revenue which is RM3,099,565,000. Hong Leong Bank’s return on assets is 0. 99% which is slightly lower than RHB Bank’s return on assets which is 1. 23%.This can be implied that Hong Leong Bank did not manage and utilise its assets base better than RHB Bank during operations to generate revenue. However, both banks generated low return on the basis of their assets. With total assets of RHB B ank is RM105,179,231,000, it generated revenue of RM5,253,455,000 whereas Hong Leong Bank’s total assets is RM77,730,208,000 and it generated revenue of RM3,099,565,000. Even though, RHB Bank has assets of 1. 35times more than Hong Leong Bank, its return on assets is still low.Thus Hong Leong Bank managed its assets better than RHB Bank. Hong Leong Bank’s leverage multiplier (13. 7times) is higher than RHB Bank’s (12. 53times). Hong Leong bank has leverage multiplier of 0. 84times more compared to RHB Bank. This implies that RHB Bank does not depend too much on debt financing in their activities and carries less debt in their operations. Thus, Hong Leong Bank is exposed to more risk than RHB Bank. Hong Leong Bank’s return on equity is 13. 20% which is lower than RHB Bank’s 15. 41%. RHB Bank has a higher ROE because possibly the bank does not rely too much on debt financing and offers a high return to shareholders of the bank. Thus, shareholders of RHB Bank will be happy and stay with RHB Bank.Shareholders of Hong Leong Bank may sell its shares and leave the bank. Generally, the overall financial performance of Hong Leong Bank is not very well in comparison with RHB Bank (peer bank). It is possible that Hong Leong Bank’s objectives and strategies are different from RHB Bank’s. Question 2: Hong Leong Bank’s data of 2010 Interest earning asset 1:| RM’000| Deposits and placements with banks and other financial institutions| 7,004,664| Securities held at fair value through profit or loss| 6,703,224| Available-for-sale securities| 3,859,367| Held-to-maturity securities| 7,042,610| Loans, advances and financing| 33,589,093|Other assets| 2,014,821| Total| 60,213,779| | | Earning assets 2:| | Interest Income Assets:| | Deposits and placements with banks and other financial institutions| 7,004,664| Securities held at fair value through profit or loss| 6,703,224| Available-for-sale securities| 3,859,367| Held -to-maturity securities| 7,042,610| Loans, advances and financing| 33,589,093| Other assets| 2,014,821| | | Non-Interest Income Assets:| | Investment in subsidiary companies (Note 31) earning dividend| 714,092| Investment in associated company (Note 31) earning dividend| 946,505| Total| 61,874,376| | |Interest sensitive assets 3:| | Cash and short-term funds| 13,421,408| Deposits and placements with banks and other financial institutions| 7,004,664| Available-for-sale securities| 681,619| Held-to-maturity securities| 1,705,674| Loans, advances and financing| 30,712,038| Total| 53,525,403| | | Interest bearing liabilities 4:| | Deposits from customers| 63,239,050| Deposits and placements of banks and other financial institutions| 3,791,129| Bills and acceptances payable| 285,366| Other liabilities| 3,890,295| Total| 71,205,840| | | Interest sensitive liabilities 5:| | Deposits from customers| 54,798,922|Deposits and placements of banks and other financial institutions| 3,784,376| Bil ls and acceptances payable| 25,453| Total| 58,608,751| | | | | Liquid assets 6:| | Cash and short-term funds| 13,928,247| Deposits and placements with banks and other financial institutions| 7,004,664| Loans, advances and financing (Note 8)| 9,057,329| Available for sales securities| 3859367| Total| 33,849,607| | | Deposits | 7,004,664| Shareholders’ fund = Total equity| 5,815,063| | | Net-write offs 7:| 202,219| NOTES: 1 Interest earning asset are assets that earns interest income. (Note 28 of pg113 of Hong. Leong Bank Annual Report 2010) Earning assets Income earning assets held by a bank typically include interest bearing balances, investment securities and loans. (Note 28 of pg113 & Note 31 of pg115 of Hong Leong Bank Annual Report 2010) 3 Interest sensitive assets are the dollar value of assets that either mature or can be repriced within within a selected time period such as one year. 4 Interest bearing liabilities are those liabilities that have to pay interest. 5 Interest sensitive liabilities are the dollar value of liabilities that either mature or can be reprised within a selected time period usually of one year.Liquid assets are unpledged, marketable short term securities that are classified as available for sale, plus federal funds sold and securities purchased under agreement to resell, a liquid asset can be easily and quickly converted into cash with minimum loss. 7 Net Write Offs is the amount written off under the assets of loans, advances and financing. (Note 8of pg95 of Hong Leong Bank Annual Report 2010) NOTES: 8 Interest Sensitive Assets RM’000 13,421,408 7,004,664 681,619 1,741,674 30,712,038 Interest Sensitive Liabilities RM’000 54,798,922 3,784,376 25,453 Interest Sensitive Assets RM’000 3,421,408 7,004,664 681,619 1,741,674 30,712,038 Interest Sensitive Liabilities RM’000 54,798,922 3,784,376 25,453 RHB Bank’s data of 2010 Interest Earning asset 1:| RM’000| Loans, advances and financ ing| 71,125,558| Money at call and deposit placements with banks and other financial institutions| 1,539,648| Securities purchased under resale agreement| 276,407| Financial assets held-for-trading| 129,583| Financial investments available-for-sale| 8,143,221| Financial investments held-to-maturity| 8,143,221| Total| 89,357,638| | | Earning assets 2:| | Loans, advances and financing| 71,125,558|Money at call and deposit placements with banks and other financial institutions| 1,539,648| Securities purchased under resale agreement| 276,407| Financial assets held-for-trading| 129,583| Financial investments available-for-sale| 8,143,221| Financial investments held-to-maturity| 8,143,221| Total| 89,357,638| | | Interest sensitive assets 1:| | Cash and short-term funds| 10,270,874| Securities under resale agreement| 276,398| Deposits and placements with banks and other financial institutions| 777,779| Financial investment available-for-sale | 1107052| Held-to-maturity securities| 3833825| Loans, advances and financing| 52741914| Total| 69,007,842| | | Interest bearing liabilities 4:| | Deposits and placements of banks and other financial institutions| 6,158,453| Deposits from customers| 80,567,577| Subordinated obligations| 3,018,157| Recourse obligation on loans sold to Cagamas Berhad| 818,503| Hybrid Tier I Capital Securities| 605,407| Long term borrowings| 819,362| Others liabilities| 868,165| Total | 92,855,624| Interest sensitive liabilities 2:| | Deposits from customers| 63,270,532| Deposits and placements of banks and other financial institutions| 5558376| Bills and acceptances payable| 2934533|Recourse obligation on loans sold to Cagamas Berhad| 147030| Long term borrowings| 817127| Total| 72,727,598| | | | | Liquid assets 3:| | Cash and short-term funds| 11093561| Securities purchased under resale agreements| 276,407| Deposits and placements with banks and other financial institutions| 782,462| Financial assets held-for-trading| 119,374| Financial investment available-for-sale| 1176035| Financial investment held-to-maturity| 3854749| Loans, advances and financing| 14124170| Other assets| 88835| Derivative assets| 190637| Total| 31,706,230| | | Deposits | 1,539,648|Shareholders’ fund = Total equity| 8,397,474| | | Net-write offs 7:| 1,033,573| NOTES: 1, 2, 3 – Please refer to appendix. | Hong Leong BankRM’000| RHB BankRM’000| Interest earning assets| 60,213,779| 89,357,638| Interest bearing liabilities| 71,205,840| 92,855,624| Earning Assets| 61,874,376| 89,357,638| Interest sensitive assets (RSA)| 53,525,403| 69,007,842| Interest sensitive liabilities (RSL)| 58,608,751| 72,727,598| Liquid assets | 33,849,607| 29,990,240| Shareholders’ fund| 5,815,063| 5,815,063| Net-write offs| 202,219| 1,033,573| Operating Income| 3,099,565| 5,253,455|Operating Expense| 2,040,931| 3113160| Other key indicators for the year ended 2010: Bank efficiency| Hong Leong Bank| RHB Bank| Efficiency ratio:Operating expenses Ope rating income| RM2,040,931,000RM3,099,565,000= 65. 85%| RM3,113,160,000RM5,253,455,000= 59. 26%| Cost to assets ratios:Operating expenses Total assets| RM2,040,931,000RM77,730,208,000= 2. 63%| RM3,113,160,000RM105,179,231,000= 2. 96%| Efficiency ratio measures the changes of costs in relation to income. Hong Leong Bank has an efficiency ratio of 65. 85% while RHB Bank is one with the lower which is 59. 26%.This implies that Hong Leong Bank’s rate in increasing the operating income is at lower rate compared to RHB Bank. In terms of rate of increase in operating income, Hong Leong has the lower efficiency compared to RHB. Cost to assets ratio is used to measure the costs incurred in relation to the assets size. RHB Bank has a higher cost to assets ratio that is 2. 96% compared to Hong Leong Bank that has a figure of 2. 63%. Therefore in term of cost of control relative to the total assets owned, Hong Leong is more efficient than RHB Bank. Interest differentials| Hong Leong Bank | RHB Bank|Net interest income:Interest earned -Interest expense| RM2,592,586,000 -RM1,209,792,000= RM1,382,794,000| RM4,530,637,000-RM1,811,153,000= RM2,719,484,000| % of interest margin:interest earned – interest expenses Earning assets| RM2,592,586,000-RM1,209,792,000RM61,874,376,000= 2. 23%| RM4,530,637,000-RM1,811,153,000RM89,357,638,000= 3. 04%| %interest spread(interest earned/interest earning assets) – (interest expense/ interest bearing liabilities)| (RM2,592,586,000/RM60,213,779,000)-(RM1,209,792,000/RM71,205,840,000)= 2. 1%| (RM4,530,637,000/RM89,357,638,000)-(RM1,811,153,000/RM92,855,624,000)= 3. 12%| Net interest income refers the difference between revenue that is generated from the bank’s assets and expenses associated with paying out its liabilities. In the table above, RHB Bank’s net income is RM2,719,484,000 which is higher than Hong Leong Bank which have a figure of RM1,382,794,000. This means that RHB Bank has higher excess revenue and interest income after deducting interest paid on deposit from interest earned on assets.Percentage interest margin shows the dollar difference between interests earned and interest expense, as a percentage of earnings assets. Hong Leong Bank’s% interest margin is 2. 23% which is lower than RHB Bank which is 3. 04%. This implies that RHB Bank made a better investment than Hong Leong Bank due to higher percentage interest margin. Percentage interest spread refers to the difference in borrowing and lending rates of financial institutions (such as banks) in nominal terms. RHB Bank’s % interest spread is 3. 12% which is higher than Hong Leong Bank’s 2. 23%. Risk management| Hong Leong Bank| RHB Bank|Interest rate riskinterest sensitive assets interest sensitive liabilities| RM53,525,403,000RM58,608,751,000= 0. 91| RM69,007,842,000RM72,727,598,000= 0. 95| Credit risk net write-offs total assets| RM202,219,000RM77,730,208,000= 0. 26%| RM1,033,573,000RM105,179,231,000= 0. 98%| Liquidity risk :liquid assets/total asset liquid assets/deposits| RM33,849,607,000/RM77,730,208000= 0. 44RM33,849,607,000/RM7,004,664,000= 4. 83| RM29,990,240,000/RM105,179,231,000= 0. 29RM29,990,240,000/RM1,539,648,000= 19. 48| Capital risk :shareholders’ funds total assets| RM5,815,063,000RM77,730,208,000= 7. 48%| RM8,397,474,000RM105,179,231,000= 7. 8%| Interest Sensitivity ratio measures the interest rate risk and it measures the level of repricing irregularities between the bank’s assets and liabilities. RHB bank has an interest sensitivity ratio of 0. 95 while Hong Leong has 0. 91 which is slightly lower than RHB Bank. This implies that RHB Bank can replace assets with higher yielding assets quicker than replacing the low cost deposits with more funds compared to RHB. Credit risk refers to risk of loss of principal due to the borrower’s failure to repay the loans or otherwise meet the contractual obligation. RHB bank has a higher credit risk which stands at 0. 8 % compared to Hong Leong that has a lower figure of 0. 26%. This shows that Hong Leong is better in managing its credit risk compared to RHB. Liquidity ratio is used to measure the ability of the bank to repay off its short term obligations. RHB Bank has lower liquidity ratios of 0. 29 while Hong Leong has a higher ratio of 0. 44. This shows that Hong Leong has higher liquid assets to meet short term obligation and able to repay all short term debt in time compared to RHB Bank. The capital risk ratio is used to calculate the capital risk and it measures the financial stability of the bank.RHB Bank has a higher simple capital ratio that has a figure 7. 98% compared to Hong Leong bank that has a value of 7. 48%. This implies that RHB is well protected against any operating losses incurred than Hong Leong. Overall, in terms of risk management RHB Bank is performing well compared to Hong Leong Bank for the year ended 2010. Question 3: Comparison of forms of loans between RHB and Hong Leong Bank OverdraftsTerm loans/financing-Housing and shop loans/financing- Syndicated term loans/financing- Hire purchase receivables- Lease receivables- Other term oans/financingCredit/charge card receivablesBills receivableTrust receiptsClaims on customers under acceptance creditsBlock discountingRevolving creditStaff loans/financingFloor stockingOther loans/financingUnearned interest and incomeGross loans, advances and financingFair value changes arising from fair value hedgesUnamortised fair value changes arising from terminated fairvalue hedgesAllowance for impaired loans and financing-individual impairment allowance-collective impairment allowance-general allowance-specific allowanceAllowance for bad and doubtful debts and financing:- specific- generalTotal net loans, advances and financing| RHB Bank (RM’000)5,976,56915,908,732835,5889,322,667-29,854,4431,644,4651,418,203325,1774,130,205-3,491,071336,5281,56973,245,217-(682,522)(1,437,137)—-71123,9 89| Hong Leong Bank (RM’000)2,086,55016,933,8161,458,6333,284,687-1,653,6902,017,519211,01992,9823,184,6968,2181,219,78096,668-44,390(613,549)31,679,09928,3858,714—(306,807)(471,305)30,938,086|Credit risk is the risk of financial loss due to a borrower or counterparty being unable or unwilling to deliver on its payment obligations to the Bank, which leads to a loss of revenue and the principal amount. It arises principally from lending, trade finance and treasury activities (Hong Leong Bank Annual Report 2010 pg. 150). Based on the above table shows the comparison of the total amount of loans for Hong Leong Bank and RHB Bank for the financial year ended 2010. RHB Bank has the highest number of loans that stands at RM71,125,558,000 while Hong Leong Bank has a total of RM 33,589,093,000. However, based on the credit risk ratio RHB Bank has a higher credit risk which stands at 0. 98 % compared to Hong Leong that has a lower figure of 0. 26%.This shows that Hong Leong is b etter in managing its credit risk compared to RHB Bank RHB Bank has 2. 1times more loans than Hong Leong Bank, but it’s credit risk is 3. 76times more than Hong Leong Bank. It implies that Hong Leong is better in managing its credit risk and loan portfolio because most borrowers able to pay back the loan to the bank. Therefore, Hong Leong provided the best of the credit risk quality. In order for the bank to increase and strengthen the risk management practices, RHB Bank ensures to maintain the credit quality of its loan portfolios, improve cost effectiveness, and ensure the liquidity and capital stay strong throughout the financial year in 2010.Therefore, RHB Bank manages risk through clearly defined guidelines that are approved by the Board of Directors, through a framework of established control and reporting process. Hong Leong Bank also gives a strong priority for managing effectively in credit management. It is also managed by high-experience personal with high level re view undertaken by the Management Credit Committee under the supervision of the Board Credit Supervisory Committee. The bank integrated risk management structure is similar to RHB Bank whereby credit risk framework that is compliant with Bank Negara Malaysia’s guidelines on ‘‘Best Practices for the Management of Credit Risk†.The Group Risk Management Committee (GRMC) had been established by RHB Bank for risk oversight within the bank. Among the committees of this group are namely the Group Credit Risk Management Committee (GCRMC), Group Operational Risk Management Committee (GORMC) and Group Assets and Liabilities Management Committee (GALCO) assist the GRMC in managing credit risk, operational risk as well as market and liquidity risk. The committee ensures the development and implementation of risk policies as well as the effectiveness of policies. Among the exposure of credit risk in RHB Bank may be categorized as primary exposure. Loans, advances and fin ancing are the credit risk that arises in the primary exposure.Most of the lending activities in the bank are guided by the Group’s Credit Policies and Guidelines, in line with Best Practices in the Management of Credit Risk, issued by Bank Negara Malaysia. The credit risk policy includes an overview of the lending organisation, and the responsibilities of the parties in the organisation whereby the Board have a loan committee that oversees major new loan and renewals and the performance of the loan portfolio (Gup et al, 2007). Example, Hong Leong will be redeveloping a new credit risk system for corporate and commercial borrowers while for the retail segment, the bank has implemented a credit application and behavioural scoring system in order to improve the Bank’s ability to control credit losses within predictive ranges and achieve a well balanced portfolio.This is accordance to the Basel II that RHB Bank is also practising whereby every bank requires to hold adequa te capital in order to fulfil the minimum capital adequacy of the bank. This is also supported by Hassan & Muhammad, (2007) whereby bank loans are the most largest and obvious credit risk. Therefore the Basel II is required so that most banks will know how much capital they must hold. The Bank’s credit risk management process is documented and processed In the Credit Manual. One of the functions of the Credit Manual that is introduced by Hong Leong Bank is to set out the lending policies, lending authorities, credit risk rating, credit reviews, collateral, credit administration and security documentation, and timely rehabilitation and restructuring of problematic and delinquent accounts.Apart from that, this is to ensure that structures are there to maintain to enhance the Bank’s risk assessment capabilities in key areas of credit that includes sound credit policies and procedures, quality credit approvals, appropriate risk measurement. ARHB Bank does not have this Credit Manual but they form a second line defence that formulate the risk management policies. The function of an internal audit is to provide independent reviews of the quality of the loans (Gup et al, 2007). Based on the Hong Leong Bank Annual Report (2010), it states that Internal Audit conducts independent post to reviews on the financial statements and the capital of the bank.This is to ensure that the qualities of credit risk and approval standards are in accordance with the credit standards and the lending policies and directives established and approved by the Bank’s management and Board of Directors. Question 4: Conclusion In conclusion, the performance of Hong Leong Bank for the financial year ended in 2010 is not as good as its peer bank RHB Bank. This is due to that the ROE is lower compared to RHB Bank. This can be improved by not relying too much on debt financing for its operations and to provide more return to investors. Also, Hong Leong Bank did not create m uch value to the shareholders due to low ROE. However, only the net margin part is the main strength of Hong Leong compared to RHB Bank This indicates that operating costs are well controlled by Hong Leong Bank compared to RHB Bank.This is a good indicator as this prevents wastage and smartly uses the assets to generate more income. The liquidity ratio for both the banks are below 1 which is not safe for both banks because they cannot meet the requirements to pay off the obligations and current assets are less than current liabilities they having. Based on the ratio analysis for year 2009 to 2010, the ROE, ROA and net margin ratio shows a good improvement due to economic boom and inflation happens during the period. However, in 2009, most of the ratio for Hong Leong Bank declines because may be due to economic recession and the decline in the economic activity of the bank.For the credit risk, RHB Bank did not manage its credit risk well compared to Hong Leong based on the credit ana lysis. RHB could improve their credit risk by having an internal audit to check on the loan defaulters and the accounts. Personal experience of visiting banks We visited Hong Leong Bank and RHB Bank in Ampang branch and Cheras branch. We asked the branch manager of RHB Bank for more details of their items on balance sheet and income statement. She did not know what items are called interest earning assets in Balance sheet. She does not know Income Statement and Balance Sheet. I was surprised, she is a manager and she does not know.She was kind enough to call the headquarter of RHB Bank and made me speak to the person in charge of financial statements. Well, I was told that each bank has different items calling interest earning assets and liquid assets. He cannot release those details. The RHB Bank and Hong Leong Bank in Ampang Branch have 400 to 500 customers daily and they are overcrowded during lunch hours. However, the RHB Bank has 100-150 customers daily and Hong Leong Bank has 50-100 customers daily in Cheras branch. Most customers come during the lunch hours. Ampang branch has more customers compared to RHB Bank. Thus it depends on location, the number of customers visit banks. Below are the cards of Hong Leong bank and RHB Bank:Ampang Branch Cheras Branch Part B: Virtual Bank Balance Sheet |   |   | |   |   |   | | Liabilities| |   | | Asset| | 1. Deposit| | |   | 1. Gold and foreign exchange| i. Current deposit | |   | 2. Cash and Liquid Assets| | ii. Fixed deposit| |   | 3. Securities| | iii. Certificates of deposit|   | i. Trading securities | | iv. Other deposits such as call deposits, cash| ii. Investment securities | | management accounts and savings account| iii. Short term discount security| 2. Non-deposit liabilities| |   | iv. Long term bonds or notes| Liabilities due to clearing houses and financial| 4.Loans and advances| | institutions and rank in priority after deposit| i. Overdraft | | i. Repurchase agreements|   | ii. Credit card outstanding| ii. Promissory notes| |   | iii. Housing finance | | iii. Liabilities on bill acceptances|   | iv. Other term loans| | iv. Corporate bonds and other long-term borrowings| v. Lease and hire purchase finance | 3. Due to other banks| |   | 5. Due from other banks| | 4. Trading derivatives| |   | 6. Trading derivatives| | 5. Other financial liabilities at fair value| 7. Other financial assets at fair value| 6. Other borrowings| |   | 8. All other asset| | 7. Bonds, notes, and subordinated debt| 9.Due from customer on acceptance | 8. Other debt issues| |   | | | | 9. All other liabilities| |   | | | | 10. Goodwill and other intangible asset| | | | | | |   | | | | | | |   | | | | | Capital| |   | | | | Capital acts as a buffer against unexpected losses and| | | | protects against insolvency. |   | | | | i. Debt capital : borrowed funds|   | | | | ii. Equity capital : shareholders' fund| | | | NOTES : Asset 1. Changes in this item reflec t transactions of the following kinds: a. the Bank's transactions in foreign exchange and foreign securities (including under repurchase agreements); b. earnings on foreign currency investments; and c. hanges in the valuation of foreign currency and gold, and changes in the market prices of the Bank's holdings of foreign currency securities. 2. Liquid assets are assets that can be converted into cash quickly without loss of value 3. i. Trading securities : banks plans to sell before maturity ii. Investment securities : banks plan to hold till maturity iii. Short term discount securities : pay face value at maturity iv. Long term bonds or notes which pay coupons during the life of the security and the face value of maturity. 4. Includes loans, deposits with central banks and other regulatory authorities and settlement account balances due from other banks.Amounts due from other banks are initially recognised at fair value and subsequently measured at amortised cost. Advances: non-der ivative financial assets with fixed payments that are not quoted in an active market i. Overdraft : – borrower can draw up to the limit * Interest payable on amount drawn * Commitment fee is payable on the undrawn amount| ii. Credit card outstanding: – borrower can purchase on credit| or take cash in advance -form of revolving credit -Interest payable on amount drawn -annual fee may be charged | | | | iii.Housing finance : – Mortgage where the collateral is real estate – loan application fees are charged – variable rates(up to 30 years) – fixed rates(3-5 years)| iv. Other term loans : – example such as fully drawn advance – maturity of 5-8 years – a single loan of a specific dollar amount – fixed interest rate – application fees, establishment fees – repayment maybe fully amortised or structured to match the profits Generated by project being finance. | v.Lease and hire purchase finance : – se cured loans where the collateral is an asset – term of loan related to the life of the collateral – fixed interest rate – application fees, establishment fees| | | 5. Trading derivatives have not been shown by contractual maturity because they are typically held for various periods of time. 6. Also called as market related contingencies such as futures, swaps, options, forward rate agreements 7. example: land, buildings 8.Due from customer on acceptance : customer who wants to borrow from the bank may be offered a â€Å"bill facility† and the customer must agree to repay the bank. The bank is the acceptor(promise to pay the holder the face value Liabilities: Deposit: 1. Current deposit : – No maturity and no minimum balance – Withdrawals by writing a cheque or through electronic transactions – May be interest bearings(variable interest rate) or non-interest bearing 2. Fixed deposit : – Minimum amount – Specific term eg. 1-5 years – Early withdrawals incur a penalty – Fixed interest rate 3. Certificates of deposit : – Face value at least $100,000 – Maturities between 14-270 days – Fixed interest rate – Originally issued at par but may trade above or below depending on Market yields. At maturity, receives face value plus interest 4. The deposits : a) Call deposit – must give notice of withdrawal, variable interest rate b) cash management accounts – minimum balance requirement, variable interest rate linked to money market yields c) savings account – no minimum balance or notice of withdrawal requirements – variable interest rate Non-Deposit: i. Repurchase agreements : – banks borrow for a short period (5 years) – sell securities with an agreement to repurchase on agreed date at agreed price ii. Promissory notes : – discount securities – bank sells to the market iii. Liabilities on bill acceptance : -bank is the acceptor and pays face value at maturity iv.Corporate bonds and other long term borrowings : example domestic bonds, eurobonds Due to Other Banks: Includes deposits, vostro balances, repurchase agreement and settlement account balances due to other banks. Trading derivatives: Financial liabilities at fair value are financial liabilities held for trading if it is acquired or incurred principally for the purpose of selling or repurchasing it in the near term. | Other financial liabilities at fair value Borrowings are initially recognised at fair value, net of transaction costs incurred. It is subsequently carried at amortised cost, any difference between initial recognised amount and the redemption value is recognised in the profit or loss.For example: borrowing from reverse bank, other banks, or borrowing from outside of the country. Other financial liabilities at fair value: Short term and long-term debt issues of the group including commercial paper, notes, term loans, medi um-term notes, mortgage backed securities and other discrete debt issues. All other liabilities: I) Bills Payable (drafts, telegraphic transfers, mail transfers payable, pay slip, bankers cheques, other miscellaneous items, etc) II) Inter-Office (The inter-office adjustments balance, if in credit, should be shown under this head. Only net position of interoffice accounts, inland as well as foreign should be shown here)III) Interest Accrued (Includes interest due and payable and interest accrued, but not due on deposits and borrowings Includes net provision for income tax and other taxes like interest tax (less advance payment, tax deducted at source, etc. ) IV) Deferred Tax (surplus provisions in bad debts provision account, surplus provisions or depreciation in securities, Contingency funds which are not disclosed as reserves but are actually in the nature of reserves, proposed dividend/transfer to Government. ) V) Others (which are not disclosed under any of the major heads such a s unclaimed dividend, provisions and funds kept for specific purposes, unexpired discount, outstanding charges like rent, conveyance, etc. certain types of deposits like staff security deposits, margin deposits, etc) Goodwill and other intangible asset:Goodwill arises on the acquisition of an entity and represents the excess of the aggregate of the fair value of the purchase consideration and the amount of any non-controlling interest in the entity over the fair value of the Group’s share of the identifiable net assets at the date of the acquisition. Capital Debt capital : borrowed funds, ranks higher than equity capital for the repayment of annual returns. Equity capital : -shareholders’ fund which represents the remaining interest in assets of a company. -permanent commitment of funds -earns the residual income of the firm after all interest and other costs -main components includes issue share, reserve and retained earnings References Hong Leong Bank. (2011). Annual Report: 2010. Retrieved September 14, 2011 from http://www. hlb. com. my/data/ar2010. pdf RHB Bank. 2011). Annual Report: 2010. Retrieved September 12, 2011 from http://www. rhb. com. my/corporate_profile/investor_relation/pdf/annual_reports/2010/RHB%20Bank%20Berhad%202010. pdf Gup, B. E. , Avram, K. , Beal, D. , Lambert, R. , ;amp; Kolari, J. W. (2007). Commercial Banking. Milton, Qld: John Willey ;amp; Sons Hassan, H. , ;amp; Mohammed, F. (2007). Banks’ risk management: a comparison study of UAE national and foreign banks. The Journal of Risk ;amp; Finance, 8(4), 394-409. Hong Leong Bank Berhard. (2009). Annual Report: 2009. Retrieved September 14, 2011 from http://www. hlb. com. my/data/ar20091. pdf Milbourn, G. , ;amp; Haight, T. (2005).Providing Students with an Overview of Financial Statements Using the Dupont Analysis Approach. The Journal of American Academy of Business, Cambridge. 9(3), 46-50 Narayanan, L. (2010). How DuPont Analysis Reveals Return on Equity Ratio. Managing Credit, Receivables ;amp; Collections. 2(1), 12-14. Pinsent, W. (2010). Decoding DuPont Analysis. Retrieved September 2, 2011, from http://www. investopedia. com/articles/fundamental-analysis/08/dupont-analysis. asp Class Dupont. (2010). Current Financial Accounting. Retrieved September 10, 2011, from http://www. sjrbiz. info/Current%20Classes/Financial%20Accounting%20Class/Dupont%20Model%20in%20a%20Nutshell. pdf