Coso and Basel Essay Example

Coso and Basel Essay Financial Collapses and Regulations New England College of Business In an era of risky investments and failed financial institutions, additional importance is being placed on businesses implementing Enterprise Risk Management (ERM) plans. ERM is defined by the Institute of Internal Auditors (2012) as an approach designed to identify, quantify, respond to, and monitor the consequences of potential events implemented by management. Without an ERM plan, transparency to shareholders and internal accountability are nearly impossible to achieve. COSO and Basel are both reactive frameworks to increased regulatory changes that forced institutions to show more transparency to their financial reporting, in order to manage operational risks, mitigate the likelihood of a collapse, and ensure stability in volatile market conditions (Farnan 2004; Balin 2008); these measures increase confidence in investors. This comparative analysis of COSO and Basel seeks to indentify common measures that are necessary to form a functional ERM plan, the most important being the accountability of management and its communication with the Board (The New Basel Accord 2003). A Comparative Analysis of ERM Guidelines: COSO I/II and Basel I/II Introduction Due to the epidemic of failed financial systems seen over the past decade, agencies and private organizations (e. g. , Securities and Exchange Commission, NICE, etc. ) have set in place guidelines for the standardization of reporting and evaluating risk in an effort to eliminate surprise collapses in the future (NICE Systems Ltd. 2012). Alexander Campbell, Editor, Operational Risk Regulation, states that regulatory approaches are changing and requiring companies to streamline processes for monitoring internal risks at a company, such as fraud (NICE Systems Ltd. 2012). Common goals of organizing committees trying to tackle regulatory challenges are to improve communication between the board and management, increase shareholders confidence, and most importantly, for entities to thoroughly evaluate their liquidity so that in the event of a crisis, investors assets are secured (Bressac 2005; Decamps, We will write a custom essay sample on Coso and Basel specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Coso and Basel specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Coso and Basel specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Rochet, Roger 2003). This comparative analysis of COSO and Basel identifies the standards these documents set for institutions to maintain an Enterprise Risk Management (ERM) plan, as well as the affects these documents shortcomings and constraints have on entities which apply either COSO or Basel. Enterprise Risk Management (ERM) is defined by the Institute of Internal Auditors (IIA) (2012) as an approach designed to identify, quantify, respond to, and monitor the consequences of potential events implemented by management. It is important for all parties affiliated with an institutions ERM plan to clearly identify and understand the events that impact a companys value in order for the entity to achieve its objectives (IIA 2012). The frameworks COSO and Basel both attempt to be reactive solutions to public events in which lack of an adequate ERM plan has contributed to a collapse of a major institution or market which had a detrimental affect on the public (Farnan 2004; Lall 2009). Both documents have been explored by many key opinion leaders in the financial industry, and while each provides a set of guidelines for developing successful ERM protocols, each also fails to be foolproof. Shaw (2006) provides the argument that while the COSO standard was groundbreaking at the time, it was not meant to be a marking guide for controls. Moreover, in regards to Pillar 3 of the Basel Accord which depicts methods of Value-At-Risk (VAR) calculations, Standard and Poors noted that although these VAR methods appear to offer mathematical precision†¦they are not a magic bullet (Lall 2009). COSO and Basel can be seen as a significant step forward for the times (Saurina and Persaud 2008). Basel In 1974, the Basel Committee of Banking Supervision (BCBS) was created (consisting of the G10 plus Luxembourg and Spain) in light of the challenges from an increasingly internationalized banking system (Lall 2009). In the 1980s, it became clear (post-Latin America Debt Crisis, 1982) that a process was needed regulate the international banking system to mitigate risk and manage losses (Lall 2009). The first Basel Accord and Basel II, referred to as Basel, is a method of risk management, specifically for financial institutions operating on a multi-national level, that sets minimum capital requirements (8% of adjusted assets (Decamps, Rochet, Roger 2003)) that these institutions must uphold to minimize the risk of a collapse in the international banking system (Lamy 2006). Basel I, the first international accord on bank capital was established in 1988, by the BCBS (Finance Development 2008), with the goal to arrive at significantly more risk-sensitive capital requirements with the primary objective in line with ensuring stability in the international banking system (Lamy 2006). In 2004, Basel II was introduced, with amendments in response to the Quantitative Impact Study, QIS 3, (published in May 2003), an increase in the amount of capital banks must set aside for high-risk exposures, and changes from feedback from banks on Basel I (Finance Development 2008; Lamy 2006). The Basel framework is focused on three pillars: a minimum capital adequacy requirement, supervisory review, and market discipline (Decamps, Rochet, Roger 2003). Basel I was highly criticized for having a one size fits all approach to formulating institutions risk-weighted assets (with insensitivity to emerging countries), in addition to unrealistic capital requirements that discouraged even reasonable risk taking (Kaufman 2003). In response to these critiques, BCSB began to draft Basel II, in which the amendments to Pillar I (310 out of ~350 pages of the document (Balin 2008)) were most notable. Balin (2008) describes the menu of various options that Basel II encompasses for Pillar I, which allow institutions to choose the most suitable options dependent on a series of factors (i. e. , size, rating, etc. ). The minimum capital requirement pillar focuses on the least amount of capital a bank must maintain to be protected from credit, operational, and market risks (Ahmed and Khalidi 2007). In Basel II, the highly critiqued credit risk requirements were modified to decrease the one size fits all stigma of Basel I (Kaufman 2003). Additionally, Basel II takes into account loopholes found in Basel I that enabled banks to maintain their desired level of risk while cosmetically assuaging to minimum capital adequacy requirements, which was done mainly through a transfer of assets to holding companies and subsidiaries (Balin 2008). Similar to COSO framework, the first pillar of Basel seeks to unite various types of risks into an overall evaluation of capital requirements to safeguard shareholders and investors. Pillar 2, the Supervisory Review, is meant to insure that banks have adequate capital to support all the risks in their business including, but not limited to, the calculations in Pillar 1 (Kaufman 2003). This Pillar clearly defines of obligations of supervisory oversight against extreme risk taking; of note in this Pillar is line 680, which states: Supervisors are expected to evaluate how well banks are assessing their capital needs relative to their risks and to intervene, where appropriate. This interaction is intended to foster an active dialogue between banks and supervisors such that when deficiencies are identified, prompt and decisive action can be taken to reduce risk or restore capital (The New Basel Capital Accord 2003). The four principles of Pillar 2 seek to hold the supervisors responsible for implicating processes, reviewing, setting expectations, and intervening when warranted in regard to management of capital risks (The New Basel Capital Accord 2003). Pillar 3 seeks to protect against changes in asset prices (market risk) (Balin 2008), which is an addition to the credit risk factors of Basel I. Using the Value-At-Risk (VAR) model, banks were able to determine the probability of a portfolios value decreasing by more than a set amount over a given time period (Lall 2009). Critics of the VAR model, such as the International Monetary Fund (IMF), claim that it fails to account for extreme market events and assumes that the processes generating market events were stable (Lall 2009). COSO In July 2002, the Sarbanes-Oxley Act (SOX) was passed with the goals of increasing investor and public confidence in the post-Enron era and increasing management accountability, among others (Farnan 2004). Section 404 of SOX states that effective for some large companies, beginning December 31, 2004, a separate management report on internal control effectiveness and audit by the organizations external financial statement auditor is required (Farnan 2004). COSOs framework lays out a path for developing efficient operations and regulatory compliance methods, and has been established as the framework recommended by agencies such as the SEC for public companies to base their financial reporting on (Farnan 2004). The Committee of Sponsoring Organization of the Treadway Commissions (COSO) is comprised of five private organizations in the financial industry (COSO Web site 2012). The COSO organization was established in 1995 with the mission to provide thought leadership through the development of comprehensive frameworks and guidance on enterprise risk management, internal control and fraud deterrence, and attempts to enhance success and leadership, and minimize fraud in company reporting (COSO Web site 2012). Since its establishment, COSO has published frameworks aimed at helping publicly traded companies cope with tough new monitoring requirements mandated by the Sarbanes-Oxley Act (Shaw 2006), and to help businesses manage risk, by looking at business units as an entire entity, designed to improve organizational performance and governance and to reduce the extent of fraud in organization (COSO Web site 2012). The COSO framework is a cube comprised of four (three in COSO I) company objectives perpendicular to eight (five in COSO I) factors that together form a risk assessment program for which companies can reduce risks by realizing the amount of capital needed for consequences (Bressac 2005). Similar to Basel, COSO dictates that the board is responsible for overseeing managements design and operation of ERM (Bressac 2005). One factor that COSO framework includes is the measurement of a companys risk appetite, the amount of risk, on a broad level, an entity is willing to accept in pursuit of value (Rittenberg and Martens 2012). Many objectives that management sets for their company (i. e. , increase market share, win competitive tenders) include a substantial amount of risk, and COSOs strategic decision-making framework allows managers to present the objectives in relation to appetite to the Board for approval (Rittenberg and Martens 2012). Conclusions Both COSO and Basel were drawn to effectively respond to new implications (Sarbanes-Oxley Act (Shaw 2006) and new laws capital requirements for banks (Lamy 2006), respectively), and each have principles that can help institutions manage ERM more effectively. For example, The New Basel Capital Accord (2003) clearly articulates that setting a minimum amount of available capital resources is a vital element of the strategic planning process, and the three pillars devise a plan to do this. Bressec (2005) claims that COSO II framework articulates a way for managers to effectively deal with the events that create uncertainty for entities and create responses to minimize potential losses. COSO and Basel were both released in the infancy stage and flawed. Samad-Khan (2005) observed that COSOs creditability is diminished because consequences are predicted to occur much more frequently than had been historically recorded in the past. Supporters acknowledge that Basel II has arcane ideas, but defend that its still a step in the right direction because it increases financial oversight and makes sure banks wont be doomed by crises of confidence (Coy 2008). It is important to note that while COSO and Basel offer much protection against quantitative risk assessments, they must be coupled with the knowledge and insight of senior risk managements to be most efficient (Lall 2009; Samad-Khan 2005). Moreover, both COSO and Basel also provide constraints that limit the amount of risks institutions can endure, sometimes excessively. Pall (2009) discusses one failure in Basel II as the ability for developed-nation banks to skew their reports to their desired results, at the expense of their smaller and emerging market competitors and, above all, systemic financial stability. Samad-Khan (2005) emphasizes that historical data is still the most reliable way for companies to determine the probability for risk to occur. Start-ups will not have this historical data, therefore may overestimate their probability of risk using the likelihood x impact = risk calculation (Samad-Khan 2005) and miss out on potentially positive opportunities. Others against the provisions claim that both documents (e. g. , Basel in the Emerging markets) implement concessions that constrain potential growth by overcompensating for potential consequences and depleting lending capital for banks, which in the 1930s contributed to the Great Depression (Coy 2008). Historical events depict the need for more stringent regulatory guidelines in this era of financial market uncertainty. The most important common factor of Basel and COSO are that each clearly states that it is managements responsibility to have a functional ERM plan in place, and be in communication with the Board about potential risks that the company faces (Bressec 2005; The New Basel Capital Accord 2003). Holding management accountable for the risks the business takes, while making sure that the Board is in agreement with managements plan creates a necessary harmony of a checks and balances system, in turn creating a safer landscape for shareholders and the public to place faith in. When properly executed,

Reconstruction-DBQ essays

Reconstruction-DBQ essays In what ways and to what extent did constitutional and social developments between 1860 and 1877 amount to a revolution? The Declaration of Independence is a written document intended to bring about change, through the hopes and will of the common people. ...We hold these truths to be self evident, that all men are created equal, that they are endowed by their Creator, with certain unalienable rights, that among these are Life, Liberty, and the pursuit of Happiness. This infamous statement however was not carried through history to its highest potential. Another challengeable statement mentioned in the Declaration of Independence was ...that they are, and of right ought to be, free and independent states. Through the periods of 1860 and 1877, nearly 100 years after the Declaration was written, constitutional and social developments were a necessity in order to protect all citizens rights, no matter what race, color or religion, enforce states rights, and bring about a change, that would further revolutionize and impact the United States greatly. States rights was a critical topic during this time period. South Carolina wanted to secede because of the violations of constitution posed by the federal government. The South Carolina Declaration states their reasons for secession, clearly shown in Document A. South Carolina was the first state to succeed from the Union, which would then anger the United States because it triggered other states to follow their footsteps. South Carolina felt their rights had been stripped of them, which challenged the United States constitution. The principle of states rights is a bad sentiment in others eyes however. In Document B, Senator John Sherman basically says that we have given to much power to the states allowing it to overthrow the government. It decreases a sense of nationality which in the long-run could harm the ...

Critically evaluate the development and application of the implied Essay

Critically evaluate the development and application of the implied duty of trust and confidence with reference to contracts of employment - Essay Example It would appear from the decided cases, that the primary purpose of the implied duty of trust is to ensure that the employer acts in good faith and does not unfairly or inequitably exercise his/her power under the employment contract.4 This paper explores the emerging concept of the implied duty of trust and confidence in the employment contract and argues that it is a significant development, used for the purpose of regulating and restraining the employer’s conduct in asserting his/her power under the employment contract. The implied duty of trust is a relatively new concept of employment law.5 The duty itself is most likely founded on the fundamental principle of co-operation required of parties to a contract generally.6 It is also part of the history of employment law and its shift away from the underlying tenet of the preexisting master/servant characterization of employment relationships. In this regard, the emerging duty of trust can be detected in Lord Slynn’s judgment in Spring v Guardian Assurance Plc [1995] 2 AC 196 in which Slynn J said: The changes which have taken place in the employer/employee relationship, with far greater duties imposed on the employer than in the past, whether by statute of by judicial decision, to care for the physical, financial and even psychological welfare of the employee.7 The duty of mutual cooperation merely dictated that parties to a contract tailor their conduct so as not to undermine the terms and conditions of the contract.8 In other words the duty of mutual cooperation did not impose upon the parties a positive duty. The implied duty of trust which was developed from the duty of mutual cooperation does impose upon the parties a positive duty to take specific action. For example in Scally v Southern Health and Social Services Board [1992] 1 AC 294 the court held that the implied duty of trust and confidence imposed upon the

Effective Ways on How We Can Alleviate Sexism in Our Society Research Paper

Effective Ways on How We Can Alleviate Sexism in Our Society - Research Paper Example In reality, sexism is not limited in stereotyping the expected roles of a male and female role in this society. Unfortunately, transsexuals are also equally affected by the negative impact of strong sex discrimination. Feminist groups have long time been trying to fight the occurrence of sexism; specifically with regards to the unequal opportunity that is present between men and women at work, within educational institutions, and their expected role in our society (DaCosta Alleyne, 2004). In relation to the importance of gender equality, feminist movement continuously campaigns for women’s rights and interests which includes: (1) right to work, equal pay, and maternity leave; (2) right to vote; and (3) right to be protected from domestic violence, sexual harassment, and rape (4) (Humm, 1990, p. 278; Echols, 1989, p. 416, Cott, 1987, pp. 4 – 5). It is through the strong influence of feminist groups in the way people think that gradually eliminates the traditional perspectives on how women should act in our society. Over the years, feminist groups had significantly changed the modern ways of living from culture to law. Despite the government and private institutions’ effort to alleviate sex discrimination by promoting the importance of workplace and educational diversity and improving the existing laws on sex discrimination and chauvinism, sexism remains a serious social problem in our country. In line with the social consequences of sexism, almost all sociologists are using the three primary theoretical perspectives known as the symbolic interactionist perspective1, functionalist perspective2, and conflict perspective3 when analyzing the social phenomena behind sexism (Cliff Notes, 2010).  

Mexican Repatriation of the 1930's Essay Example | Topics and Well Written Essays - 1750 words

Mexican Repatriation of the 1930's - Essay Example The President of United States, Mr. Herbert Hoover supported these actions and allowed the targeting of Mexican population. The most affected areas were California, Texas, Colorado, Illinois and Michigan. This made them leave the country and they went back to Mexico. United States of America was always a heaven for immigrants from different parts of the world. There used to be a million immigrants from Europe each year before the introduction of Quota Act of 1924. The new act reduced the immigration to less than 100, 000 immigrants per year. As the Depression began and people started suffering of it, government planned to take an action against the illegal immigrants, who were not only burden on the weakened economy but were also the cause of disturbance among the people in the country (Blea, 1988. Page No. 99). The act does not put extra restrictions from the immigrants of Mexico and they enjoyed their stay and mobility between the two countries. It came out that there were more than 400,000 illegal immigrants in United States. The government started a raid against the illegal immigrants in all the major cities, including New York City, Los Angeles, San Francisco etc. This resulted in the deportation of some 163,900 people in ten years. These p eople were living illegally in the United States and almost 35,000 people were deported to Mexico (Barrera, 1974. Page No. 21). This makes it 20 percent of all the deported people. People who were living legally were also deported due to the some legal reasons. But a large number of Mexican immigrants came illegally and they were deported back to their country. Almost 1.3 million Mexican origin people were deported in 1930's and the number increased to 1.6 million in the next decade. It is considered to be a shameful act by the Americans and many people realize it now. According to many Americans, it was a shameful time in the United States, which is considered to be a land of opportunity for all the people around the world (Burma, 1970. Page No. 192). Hundreds of thousands of people were forcefully removed from the country and it includes the Native Americans too.And another point here is that not many people around the world know about this. This was not publicized and somewhat very little material can be seen about Mexican Repatriation today, if we compare it to the other shameful events which took place in the world. The Mexican Repatriation is considered to be the largest involuntary migration in the United States of America in nineteenth century, after the removal of Native Americans. It was the second time that Mexicans faced the repatriation. The Mexicans first faced it in 1848 after the Mexican War (Hoffman, Page No. 82). Another repatriation was started in 1915, when Mexican Americans rebels were stood against the United States and they tried to re-conquer the lands, which were once owned by the Mexicans. This resulted in the forceful deportation of thousands of Mexicans to their native country. The Mexican Repatriation of 1929-1944 was different in a sense that many American citizens were also sent to Mexico, only because they were Mexico

Emetic and anti-emetic drugs

Emetic and anti-emetic drugs The Necessity Humans are fundamentally animals, and in true Darwinian fashion, survival is key. The process of emesis, or vomiting, can often be regarded as a defensive mechanism adopted by humans and other animals. One example of this is using emesis to reverse the potentially deadly mistake of eating a poisonous substance. If the bodies natural defences failed to recognise the danger of the foreign toxin in the blood stream, it may be essential to induce emesis. Hence, a need for emetic drugs arose, drugs which would stimulate the bodys natural defences and promote vomiting. However, not all vomiting is a defensive reflex, such as motion sickness, or the nausea associated with pregnancy, both of which cause no biological threat to the existence of the human. The extreme emesis suffered by chemotherapy patients is another strong cause for drugs to allow control over the vomiting process, and so the necessity for anti-emetic drugs also arose. The Emetic Response The act of emesis is in fact a fairly complex one, requiring the co-ordination of the somatic respiratory and abdominal muscles, and the muscles of the gastrointestinal tract. Two sections of the medulla function to regulate the event of emesis, the chemoreceptor trigger zone (CTZ) and the vomiting centre. The CTZ is located in the area postrema, on the floor of the fourth ventricle of the brain, and is sensitive to chemical stimuli present in the plasma. Many drugs can be used to counteract substances working on the CTZ, reaching the area of the brain via the blood stream. The blood-brain barrier around the CTZ is permeable, allowing drugs to act directly on it. The vomiting centre is, however, used to co-ordinate the actual event of emesis, regulating the movement of smooth and striated muscle. The CTZ transmits signals to the vomiting centre when a stimuli acts upon the CTZ, causing the activation of the emetic reflex. Emetic Drugs As previously stated, sometimes emesis is a desirable process, such as in the event of swallowing a toxic substance. It is also, perhaps [a bit irishly], necessary to promote vomiting in the test for anti-emetic drugs. The main emetic drug that is used is Ipecacuanha, which contains two substance, emetine and cephaeline, which irritate the gastrointestinal tract to cause the patient to vomit. However, migranes and indigestion are common side effects Motion Sickness Emesis can be induced without any influence from foreign substances within the body. Motion sickness is a prime example of this, and has no biological significance on the existence of humans. In the process of motion sickness, the labyrinth in the vestibular apparatus of the ear is moved in a certain way. This relays a signal to the floor of the fourth ventricle, but the mechanism of movement of the signal to the CTZ is yet unknown. It has been hypothesised that the cerebellum may possibly act as a second relay centre, but as the CTZ only responds to chemicals in the plasma, the synaptic pulses from the relay centres could not act directly upon it. However, although the mechanism of motion sickness is not yet fully known, many drugs for motion sickness have been designed, antagonising the H1 and muscarinic receptors. H1-receptor antagonists Histamine H1 receptor antagonists can prevent emesis by competing with histamine on the H1-receptor sites. The precise mechanism of action is yet unknown, but it has been thought that the administered antihistamine competitively blocks the H1-receptors of the vestibular apparatus, reducing sensitivity, and can act directly on the gut, which, in turn, relieves the vomiting associated with motion sickness. Furthermore, first-generation H1-receptor antagonist may also block the chemoreceptor trigger zone, and act on the nucleus of the solitary tract (brainstem) by crossing the blood-brain barrier, preventing vomiting in the patient. However, this treatment is mainly effective if administered before the onset of emesis, though may manage to help control emesis once it has began. As can be seem from the chemical structure opposite, the general structure of H1-receptor antagonists can be portrayed simply. Many first-generation antihistamines cause drowsiness as a very common side effect, d ue to the anticholinergic properties of the drug. However, this anticholinergic property can also act as an anti-emetic, making the first-generation antihistamine drugs more effective. Muscarinic-receptor antagonists Muscarinic receptor antagonists. Good for prevention of motion sickness. scopolamine (Transderm-Scop) Para4: (working on stomach) muscarinic receptor antagonist Side effects, ways it works, problems, structures, point out where it acts, and how the structure makes it act in that way. Explain how the drug interferes with the normal emesis process. Muscarinic-receptor antagonists (Chapter 7) Hyoscine active against nausea and vomiting caused by the stimuli of the labyrinth (ear), and against substances which act on the stomach directly, but not against things which act on the CTZ. (same as H1) Hyoscine is best agent for prevention of motion sickness, but less useful once sickness occurs. Effect peaks after 1-2 hours after ingestion, can also be given transdermally (via the skin like a nicotine patch), and is usually put behind the ear. Unwanted side effects: drowsiness, dry mouth. (other side effects can include blurring vision and retention of urine, but dont normally occur at the doses given for anti-emetic effects) Reference List: Hawthorn, Jan. Understanding and Management of Nausea and Vomiting, Blackwell Science, 1st Edition, 1995 Rang and Dale Bartholow, Roberts. Ipecacuanha, A Practical Treatise on Materia Medica and Therapeutics, Appleton and Company, 1908

J. Edgar Hoover Essay -- essays research papers fc

J. Edgar Hoover Former Senator Joseph McCarthy put it perfectly when he said, â€Å"†¦ for the FBI is J. Edgar Hoover and I think we can rest assured that it will always be.† (qtd. in Denenberg 7). J. Edgar Hoover is credited for reconstructing the Bureau of Investigations (later renamed Federal Bureau of Investigations). Regardless of how people saw him, Hoover was powerful and committed, and did everything within his power to improve the agency that would make this country a safer place for all. John Edgar Hoover was born New Years Day in 1895. After years of education and law school he started as a third generation government worker in July 1917 as a clerk for the Justice Department (Denenberg 23,25-26). In 1919 he was promoted to acting director and later to director in 1924. He ran the FBI until his death on May 2, 1972 at the age of 77 (DeLoach 226). With all of the changes to the system that occurred because of his hard work, J. Edgar Hoover is referred to as the â€Å"father of modern-day law enforcement† (DeLoach 226). Hoover can take credit for separating the Bureau from politics, raising standards for agents, and implementing many other necessary crime programs (DeLoach 226-227). Most people were frightened of Hoover and this caused an attempt to portray him, through the media, in a manner that was far from complimentary (DeLoach 228). It is very difficult to find positive information about him; but no one can deny the hard work and accomplishments he made for the good of this country. To this day, he is the longest-serving leader of an executive branch agency, having served through the terms of eight presidents. He had good standing relationships with all the presidents regardless of their political position. Herbert Hoover (no relation) recommended J. Edgar Hoover to the attorney general for his director position with the Bureau based on his previous performances. No president came close to firing him (Hoover 34-35). For almost three generations, and even now, it is almost impossible to think of the FBI without thinking of Hoover. Democrats accused him of being Republican just as Republicans accused him of being Democrat. Hoover himself was not political. He was just as skeptical, scornful and vindictive in the treatment of right-wingers and left-wingers he didn’t like (Hoover 40). Hoover swept through the department and fired agents with questionable ... ...velt to obtain communications and tactics of suspected spies and war enemies. Though controversial it terminated the largest spy ring in operation in this country (Denenberg 79-81; Directors). Through the years Hoover’s dedication in raising the importance if the FBI helped to expand the Bureau’s jurisdiction and responsibilities (Directors). J. Edgar Hoover’s record of notable government service has never been matched. He transformed the bureau from a badly managed, corrupt organization to a quality law enforcement agency. As its size and budget have increased over the years, its reputation for competence and integrity has declined. It has lost most of the respect that it enjoyed in Hoover’s day. Works Cited Denenberg, Barry. The True Story of J. Edgar Hoover and the FBI. New York: Scholastic Inc.,   Ã‚  Ã‚  Ã‚  Ã‚  1993. DeLoach, Cartha. â€Å"J. Edgar Hoover.† Booknotes: Life Stories. Ed. Brian Lamb. New York:   Ã‚  Ã‚  Ã‚  Ã‚  Random House, 1999. Directors: Then and Now. Home page. Federal Bureau of Investigation. 1 July 2004 . Hoover, J. Edgar. â€Å"J. Edgar Hoover Speaks Out.† By Jack Wooldridge and Wilbur Martin. Nation’s Business January 1972: 32-45.

Virtual Organization Employment Law

Globalization and the development of the Internet technology have brought serious changes in our world today. It is as if the other side of the world is just a few seconds away. Countries which previously closed their borders to the international community were forced to open up. People who were previously isolated from the rest of the world are now being brought together by the necessity for survival in this competitive world. The desire for strong trading relations with other countries forced countries to build political alliances with other countries. Corporations need to continuously grow to meet the ever-changing needs of the consumers. Riordan Manufacturing Inc is no exception. Riordan Manufacturing, Inc is currently the leader in the field of plastic injection molding. Its mission is to provide innovative solutions, products and services at a reasonable cost and to develop long-term relationships with its customers. To meet the demands of its world-wide clientele it opened its facilities in San Jose, California, Albany, Georgia, Pontiac, Michigan and Hangzhou, China. These changes, however, which were brought about by globalization also created complexities on the part of the employers insofar as employee management is concerned. The differences in cultural identities and the unique practices of employees are bound to create employee-related problems for the company. With the congregation of different people, each having his own identity, in one single company, tension and conflicts were likewise created. (Diana Ayton-Shankar) Discrimination and sexual harassment issues are also bound to arise which the company is bound to anticipate. Research shows that in a study conducted by the National Organization for Woman, they found that 80% of women surveyed in a wide variety of industries had been sexually harassed. The EEOC now handles some 5,000 new sexual harassment cases annually, double the caseload of only a few years ago. (David J. Bowman) If these concerns will not be addressed by the company, then the company may expose itself to suits. There was a case in San Francisco wherein the jury awarded the amount of more than $7M to a legal secretary harassed by a male partner in a law firm for failing to act swiftly on a sexual harassment complaint. Gerald D. Bloch) Thus, creating a non hostile and friendly working environment should also be one of the top priorities of Riordan Manufacturing, Inc. Discrimination Issues in the Workplace Since the business organization is composed of personnel coming from different countries, there is a possibility that the company may have in its employ Americans and Asians. The possib ility, therefore, of racial discrimination and sexual harassment issues among the employees is not remote. In a multi-racial organization, racial discrimination is a pressing issue which must be properly be addressed by the management. Some Managers, consciously or unconsciously prefer white employees over the black employees or Asians, considering that Riordan has facilities in China. In some business organization, the white Americans are given better work opportunities than Black Americans or Asians. In some organizations, most black employees are being hired for rank-and-file positions or they are disqualified for promotion on the simple basis of their color or race. Another issue that the Riordan Manufacturing Inc may encounter is gender discrimination. Although the labor laws expressly prohibit gender discrimination in the workplace, it is still being practiced in several business organizations. For example if Riordan Manufacturing, Inc prefers to hire male applicants over a female applicant though they are similarly qualified for the position, it will be an outright discrimination on the ground of gender discrimination. As mentioned, there is always the possibility that sexual harassment may occur in Riordan Manufacturing Inc. Sexual Harassment is defined by the EEOC as any unwelcome sexual advances, requests for sexual favors, and other verbal or physical conduct of a sexual nature when: a) submission to the conduct is made either explicitly or implicitly as condition of an individual’s employment, or b) submission to or rejection of the conduct by an individual is used as a basis for employment decisions affecting such individual, or c) the conduct has the purpose or effect of unreasonably interfering with an individual's work performance or creating an intimidating, hostile, or offensive working environment. â€Å"Preventing Sexual Harassment: A Fact Sheet For Employees†) State and Federal Statutes on the matter of discrimination are clear. Job treatment which includes the hiring of employees, firing of employees, and promotions of employees, must be based on qualifications and merit and not on race, gender, age, sexual preference, disability. (â€Å"Workplace Harassment and Employment Di scrimination†) In these cases, it is not only the legal duty of every Human Resource Manager but its ethical duty as well to incorporate in its policy manual the rules against discrimination. They must include in their policy manual that the management does not tolerate any form of discrimination in the business organization. It must define the acts that constitute discrimination. The policy manual must likewise include the procedure for filing of complaint against the person who utters discriminatory remarks or practices discrimination in the workplace and the penalty for those who will be found guilty after investigation is conducted. Indeed, communication is a key to avoiding discrimination in the workplace. There must be communication by the employer in the sense that they must inform their employees that discrimination will not be tolerated by the company and that any incident of discrimination will be seriously dealt with. There must also be communication between the offended party in the sense that both parties must be given by the management opportunity to meet so that the offending party may know that the act or remark given is offensive and discriminatory. It is possible that the other person does not have any knowledge or idea that the remark he has just uttered or the act he has just committed is offensive to the sensibilities of another. If despite the fact that he has confronted and communicated his feelings to the other person he still continues making discriminatory acts and remarks, the victim of discrimination must seek assistance from his supervisors. If there is no company policy against discriminatory acts, the victim of discrimination must report and notify immediately his immediate superior, the supervisor or the Human Resource Manager so that this could be acted upon. To strongly implement the policy against discrimination sanctions against those who have proven to commit such acts must be put in place. Among the sanctions that could be imposed are written warning, letter of reprimand, suspension, change of job or class assignment and termination or expulsion. Conclusion I have identified three major discrimination issues that is likely to happen in Riordan Manufacturing, Inc. and explained the manner by which the company may address these issues. Indeed, discrimination issues in the workplace should not be treated as something which ordinarily happens in the workplace. It can be avoided. A friendly, nondiscriminatory, and non-hostile environment is not a utopia. The task therefore of Managers is to anticipate these problems or if it already exists in the workplace the Managers must find solutions to these problems. Indeed, the failure to resolve these issues may lead to serious losses to the employer as it affects the performance of the employee involved.

Activities for Nonverbal Communication

Activities for Nonverbal Communication Have you ever made an instant judgment about a person, without ever speaking to him or her? Can you tell when other people are worried, afraid, or angry? We can sometimes do this because we are tuning in to nonverbal clues. Through nonverbal communication, we make all kinds of inferences and decisions- often without realizing it. It’s important to be aware of nonverbal communication, so we can avoid sending and receiving unintentional messages through our expressions and body movements. These exercises are designed to help you understand how much information we transmit through nonverbal communication. Nonverbal Activity 1: Wordless Acting Separate students into groups of two.One student in each group will perform the role of Student A, and one will perform as Student B.Give each student a copy of the script below.Student A will read his/her lines out loud, but student B will communicate his/her lines in a nonverbal manner.Provide student B with a secret emotional distraction that is written on a piece of paper. For example, student B may be in a rush, may be really bored, or may be feeling guilty.After the dialogue, ask each student A to guess what emotion was affecting their partner, student B. Dialogue: Student A: Have you seen my book? I can’t remember where I put it.Student B: Which one?Student A: The murder mystery. The one you borrowed.Student B: Is this it?Student A: No. It’s the one you borrowed.Student B. I did not!Student A: Maybe it’s under the chair. Can you look?Student B: OKjust give me a minute.Student A: How long are you going to be?Student B: Geez, why so impatient? I hate when you get bossy.Student A: Forget it. I’ll find it myself.Student B: Wait- I found it! Nonverbal Activity 2: We Have to Move Now! Cut several strips of paper.On each strip of paper, write down a mood or a disposition like guilty, happy, suspicious, paranoid, insulted, or insecure.Fold the strips of paper and put them into a bowl. They will be used as prompts.Have each student take a prompt from the bowl and read the sentence: We all need to gather our possessions and move to another building as soon as possible! expressing the mood they’ve selected.After each student has read their sentence, the other students should guess the emotion of the reader. Each student should write down assumptions they made about each speaking student as they read their prompts. Nonverbal Activity 3: Stack the Deck For this exercise, you will need a regular pack of playing cards and a lot of space to move around. Blindfolds are optional, and the task takes a bit longer if blindfolds are used. Shuffle the deck of cards thoroughly and walk around the room to give each student a card.Instruct the students to keep their card a secret. No one can see the type or color of anothers card.Make it clear to students that they will not be able to speak during this exercise.Instruct students to assemble into 4 groups according to suits (hearts, clubs, diamonds, spades) using nonverbal communication.Its fun to blindfold every student during this exercise (but this version is much more time consuming).Once students get into their groups, they must line up in order of rank, from ace to king.The group that lines up in correct order first wins! Nonverbal Activity 4: Silent Movie Divide students into two or more groups. For the first half of the class, some students will be screenwriters and other students will be actors. Roles will switch for the second half. The screenwriter students will write a silent movie scene, with the following directions in mind: Silent movies tell a story without words. It is important to start the scene with a person doing an obvious task, like cleaning the house or rowing a boat.This scene is interrupted when a second actor (or several actors) enters the scene. The appearance of the new actor/s has a big impact. Remember that the new characters could be animals, burglars, children, salesmen, etc.A physical commotion takes place.The problem is resolved.The acting groups will perform the script(s) while the rest of the class sits back and enjoys the show. Popcorn is a good addition to this activity.After each silent movie, the audience should guess the story, including the conflict and resolution. This exercise gives students a great opportunity to act out and read nonverbal messages.

Westward Expansion Essays

Westward Expansion Essays Westward Expansion Essay Westward Expansion Essay Besides the additional land being farmed by ho mastered, huge ranches were created for cattle raising. Especially in the states of Texas and K nanas, millions Of cattle were herded to the railroad and shipped to the slaughterhouses of Chic ago. A new mining industry began following the discovery of gold on the west coast. Tens of thou sands of people moved, creating future cities like San Francisco and Denver. The completion o f the transcontinental railroad connected the Atlantic and Pacific coasts allowing of the shipping of goods across the country. Western farm products like wheat, corn, beef, and poultry were shipped east to feed the growing number borrowers in factories in cities like Philadelphia, Boston, and New York. The increase in land, natural resources, and industry g eve the United States a larger role in the world. Finally, westward expansion secured the United States by pushing foreign pop Were Off Of the continent. By controlling both coasts, the country was protected by the co means, therefore separating it from the other continents. Through the Monroe Doctrine, the UN tied States eliminated European colonization in the Western hemisphere and became its most powerful nation. Through development of industry, the United States was able to grow as a manufacturing and trading power. As industry grew immigrants poured into the land of pop orotund)/ seeking what became known around the world as the American dream. In conclusion, westward expansion was responsible for the increasing variety of geography, population, and industry which shaped the changing United State s during the 19th century. Cattle ranching soon became an extremely popular industry, developing techniques used in the East, which profited those in the West greatly. Along this name time period, railroads were extended further westward, giving a new way of transportation for cattle into markets all across the country. We were able to use this as an opportunity to advance further, creating more efficient ways of life, which was a gain for America. Westward expansion was In fact Just as for without It our lives as Americans would not have the technology for which we withhold today. Westward Expansion By assassinations The Promised Land of North America in the nineteenth century attracted many o the Rocky Mountains through the Louisiana Purchase, Lewis and Clacks exploration This migration west benefited America in many ways. Through unity and justifying that enterprise. Involved in this treated it as a community project in which the U. S unites itself to work as a whole. For example, families and friends came together as one to build brought unity forth, thus stating that westward expansion was indeed Just. Gain for America. Westward expansion was in fact Just as for without it our lives as

Comparison Matrix Essay Example | Topics and Well Written Essays - 750 words

Comparison Matrix - Essay Example This is a pertinent question in investigating the role of an organization’s structure on transformational leadership. This is because complexity in an organization’s structure lowers the chances of practicing transformation leadership. On the other hand, Emery and Barker enquires into the impact of transformational and transactional leadership on employee attitude. This is crucial because that impact translates into how employees attend customers and goes a long way to determining customer satisfaction. Hillen, Hanneke, Haes and Smets deviates from the previous two groups of authors by probing into the perception of physicians on patients trust. This probe brings in a dimension of the impact of customers’ (patients) perception on the success of the service received (cancer treatment). Wright and Pandey’s sample of 1,322 high-level public administrators working in municipalities with more than 50,000 residents was a proportionate sample. Picking these administrators from municipalities with such populations was particularly effective because the many residents would provide varied responses hence giving the researchers more materials to gauge the administrators’ leadership behaviors. High-level administrators were a good group to work with because they reflect the leadership practices of those in public sectors. Emery and Barker used a sample of 124 respondents, 77 of whom were branch managers from 3 regional banking organizations and the rest 47 were store managers from one national food chain. Sampling from two service industries is Emery and Bakers’ added advantage with their sample more so because they are not related and can therefore provide different dimensions to their topic. Regional leadership is an upgraded version of the one at the national level. There are ample chances of capturing elements of leadership prevalent in both banking and food industries, and at different levels of leadership. Hillen,

Summary of The Tempest Drama by Shakespeare Essay

Summary of The Tempest Drama by Shakespeare - Essay Example The concept of unveiling the play’s events in a long continuous order dents the play. A good player needs to spell out chronological ideas but these ideas should not run as a prolonged course during the presentation (Baker 145- 150). It is advisable to initiate breaks in the play. An effective component of developing breaks in the play is using songs. The writer should have composed a simple song and made it run throughout the drama. The song should appear before the introduction of key scenes. This not only breaks the monotony in the play but also prepares the viewers for the introduction of a novel idea. Songs are also effective in emphasizing the theme of the play or in recruiting the audience to participate in the play. Audience involvement makes the play be livelier. Another effective approach is dramatizing the play and using other live performance accompaniments. This involves employing approaches such us beating of the drum or other percussion appliances in intervals. Moreover, the play may amalgamate the performance with some melodies from the background. A critical application of these apparatus can improve the live performance. Additionally, the choice of language and tone can radically develop the performance. This means the presentation of different concepts or ideas using varying tones become necessary. Some moods or themes may need to be presented using a low tone while others may demand a high tone. Similarly, some statements need to be cool while others set to depict harshness. Tonal variations sway the audience’s mood making them identify with the play’s mood. Furthermore, the practice improves audience’s attentiveness hence an effective aspect of avoiding boredom. This makes the play interesting and lively. The use of gestures is also a key component of a good play. This critical constituent entirely depends on the actors used in the play. Gestures involve the use of body idioms in speaking the desired information. This entails facial expressions and movement of body parts. Of great consideration is the correct use of these gestures because if used incorrectly, they influence negatively on the quality and usefulness of the plays. Specific expressions and movements are suitable for a particular scenario or theme. In some degrees, this should include the use of appropriate outfits and make-ups. This becomes necessary since the appearance of the performer influences audience’s attitude. It is of worth noting that, gestures outweigh verbal language in communicating certain messages. Gestures naturalize message delivery hence making the play lively (Baker, 120). Importantly, there are some stylistic devices which if effectively utilized can improve the play. Firstly, humorous characters can appear in some scenes presenting the definite message. Humorous characters may involve culprits of ignorance, the misinformed group or chauvinists. These actors simply clash with basic societal ideologie s because of their compromised state. Their condition lands them into awkward and sometimes shameful encounters, which make them perplexed.