Law of Evidence Essay Example | Topics and Well Written Essays - 2500 words - 1

Law of Evidence - Essay Example The burden of proof aims to provide a jury with at least enough evidence to support the position of a reasonable doubt of the guilt of the accused. Therefore what must be determined in this case is whether the defendant will be obliged to adhere to a legal or evidential burden of proof. The leading case in the nature of the legal burden of proof in English criminal law1 is that of Woolmington v. Director of Public Prosecutions2, in which Viscount Sankey stated that â€Å"it is the duty of the prosecution to prove the prisoner’s guilt subject to†¦.insanity†¦.[and also]†¦statutory exception.† Therefore, applying the standard set out in this case, it would appear that the onus of the burden of proof will be placed upon the prosecution rather than on the defence. However, research suggests that this has not generally been the case. A study conducted by Ashworth and Blake showed that the legal burden of proof was placed upon defendants to prove a statutory defence in at least 40% of the Crown court cases3. Therefore, in a criminal case the defendant may likely bear the burden of proof, depending upon the circumstances and the statute (in this case, the Road Traffic Offenders Act of 1988)4. In the recent case of Sheldrake v DPP5 the question of whether driving offences would come under the purview of criminal offences and could therefore constitute a requirement for a legal burden of proof from both prosecution and defense was raised. In arriving at its decision, the Court also took into account the question of whether imposing a legal burden of proof on the defendant and thereby rendering him liable for conviction even when a reasonable doubt existed, would be in contravention of the presumption of innocence that works in favor of every defendant in a criminal case. The question of whether a legal or evidential standard of proof was to be levied required the Court to strike a balance between the

Qatar Petroleum Essay Example for Free

Qatar Petroleum Essay Qatar Petroleum aims at maintaining high level of safety by trying to reach a zero level of people and environmental harm. The company uses Electronic Document Management System (EDMS) to maintain its daily operations. The methods helps them to save their documents in an organized format, retrieve them for future use share and use them. They also have a team which holds regular surveys of the whole petroleum plant especially of the pipelines. A record of all their daily activities is kept using the EDMS system as mentioned above. A report on the organizations activities can be obtained from their website as well as a book written by P. Tuson Records of Qatar: primary documents, 1820-1960; ed. P. Tuson. Archive edns, 1991. (8v) . Since any oil company poses numerous threats , benchmarks have been set to avoid them or reduce their occurance. Limitations have been set on their expansion, to share mproved ideas and information , maintain an unbreachable security checks and register them regularly. Workers undergo regular physical check-ups and their protective suits are also regularly scrutinized for emission penetration. There are also regular checks held by the government to ensure all the safety activities are being followed regularly. Qatar Petroleum is however not free from threats. Any oil company , Qatar being the biggest is susceptible to terrorist attack as the destruction caused will be massive , eading to a high death rate and heavy financial losses. Avoiding intrusion will be difficult as these companies are located by the sea and remote areas. The attack can be on refineries, distribution system, maritime transport , developmental and exploration sites. Oil companies pose their own threat too as any fault in the whole plant, being of the minutest nature, can lead to the same type of damage as would be caused by any terrorist attack.

The Virgin Birth of Jesus Essays -- essays research papers

The Virgin Birth of Jesus Old Testament Fulfilled Prophecies The Virgin birth of Christ is an actual Historical fact. God came (in the sinless form of Jesus) into the earth "HE" created. No other event in the past has had so much impact out side of Calvary where Christ paid the price for our transgressions. Seven hundred years earlier, this was prophesied by the prophet Isaiah and it came about just as predicated in (Matthew 1:22, 23) In Isaiah 7:14, we take notice what the prophet Isaiah said about this male child or "Son". He prophesied that Jesus Christ would be born of a "Virgin." The word says "Therefore the Lord Himself shall give you a sign: Behold, a virgin shall conceive, and bear a son, and call his name Immanuel. The prophet Isaiah prophesied that this male child WOULD BE INCARNATE. (Isaiah 9:6) "For unto us a child is born unto us a son is given: and the government shall be upon his shoulder: and his name shall be called Wonderful, Counselor, THE MIGHTY GOD, THE EVERLASTING FATHER, the prince of peace. THE GOSPEL INTRODUCTION OF JESUS I read about Jesus in the four gospels of the New Testament. In their narratives of his birth, Matthew and Luke call him the virgin-born Savior, the Lord Christ Jesus, the Holy One, the So of the Most High, the Son of God, and Immanuel, which means "God with us." Mark does not give us an account of Christ's birth, but he dows introduce him as Jesus Christ, the son of God. John, like...

Graduation Speech: The Best Four Years of My Life! :: Graduation Speech, Commencement Address

Hi, my name is Pat and I would like to start today by thanking the seniors of 2012 for choosing me to speak today. It is truly my honor. You know, it is really strange how quickly time passes, after spending my whole childhood wishing I was an adult, now here we are and it's a little hard to grasp. It feels like just yesterday I was standing here in the same position at eighth grade graduation. Ahh, middle school, such a joyous time for all of us, free of maturity and not a care in the world. The biggest decisions I ever had to make then was deciding which group to stand with at passing time and choosing which shirt from my extensive collection of Stussy and No Feat apparel to wear. We were all naive to the danger that lurked just around the corner. We were unaware that the carefree world we lived in was about to come crashing to the ground in a blazing inferno of real school work and responsibility ... otherwise known as high school. I am only kidding. It's just when you're young it is easy to get caught up in the here and now, and hard to look to the future. I thought high school would never end and now here we are on the brink of having to go out into the world and actually support ourselves!? I now feel like I never really appreciated my time here and never realized what a valuable experience it would be for me. I spent so much time complaining about high school, I never really had anytime left over to just enjoy myself. There are so many experiences from high school we will all carry with us through out our whole lives and will ultimately help determine what kind of person we are. By the time the end of my junior year rolled around I was ready to get away, so I enrolled in the Running Start program. I felt I had outgrown all that school activities had to offer and I wanted to just get on with my life. But as many teachers have clearly demonstrated over the last four years; you never get too old or too mature to have a little fun in high school. It took me this year to realize this. It was around homecoming that I started to feel a little left out.

Arthur Miller’s finest work Essay

The Crucible was written in 1952, and is considered to be Arthur Miller’s finest work not only because of the captivating story and impressive dramatic techniques but also because of the subtle parallels it draws with the events of the time. In the USA in the 1950s, the country was terrified of communism. This prompted the McCarthy era, in which anyone suspected of holding communist views or sympathies could suffer nasty consequences, including losing their job, or being excluded from certain places. The play is set in 1692 in Salem, Massachusetts during the height of the mass hysteria surrounding witchcraft. At the start of act three, Martha Corey is accused of reading fortunes. In this scene, we get a good look at each of the court officials. Both Hathorne and Parris are desperate to be part of the proceedings. Hathorne repeatedly calls for witnesses to be questioned or held in contempt, only to be ignored by Danforth. This shows the audience that Hathorne’s opinions mean nothing, but it also shows us the power Danforth wields, not only over the population of Salem, but also over his own partners. There are many moments in the play when Hathorne and Parris get ignored or disrespected by Danforth, but early on in act three Hathorne asks Giles Corey ‘Are you gone daft, Corey? ‘ Corey replies ‘You’re not a Boston judge yet. You’ll not call me daft! ‘ This shows the difference in standing between the two men, as Danforth would never stand for being scolded in such a way. Reverend Parris is shown similar disrespect by Danforth, as he is continually interrupted. This is also done by Giles Corey when he cuts Parris off mid-sentence and says ‘I am asked the question, and I am old enough to answer it. ‘ This is also the first time in the act we see Hale’s attitude begin to waver. When Danforth refuses to hear Corey’s evidence Hale pleads ‘Excellency, he claims to have hard evidence for his wife’s defence. I think that in all justice you must-‘ He is then cut off by Danforth.

Psychology-Object relations essays

Psychology-Object relations essays Object Relations theorists conceptualize therapeutic action differently then Freud, stressing the need for change in mental representations of the self, object and the affect connecting the two. They believe that such changes are brought about not only through analyst interpretation, but also through the therapeutic relationship. Generally, Object Relations theorists believe that the therapeutic relationship should provide a holding environment for the patient; an environment in which the patients self and object representations, along with their affective states, are held and then returned to the patient after they have been processed and modified by the therapist. To do this effectively, the analyst deals with a narrative rather than historical truth. That is the object, the mental representation of another person, can, and often is based on a distortion. It is this internalized object that the analyst must contend with. Object relations theory follows Erik Ericksons theory of development, which grew from and was consistent with Freuds theory. Erickson described eight stages of the life cycle. The stages are not fixed in time, but a person may have residual problems carried from one stage to the next causing stress or regression. He believed that the goal of therapy is to recognize how a person passed through the various life cycles and then work through unresolved conflicts by way of the therapeutic relationship. Object relations theories vary widely; some are consistent with Freudian theories, others are not. Melanie Klien postulated a theory of internal object relations that was closely linked to drives. She suggests that the infant ego undergoes a splitting process to deal with the terror of annihilation. She thought that Freuds concept of the death instinct was key to understanding aggression, hatred and badness. Klein espoused a persecutor...

Alabama (Manderson) University offers Online MBA Program Essay Example

Alabama (Manderson) University offers Online MBA Program Essay Example Alabama (Manderson) University offers Online MBA Program Essay Alabama (Manderson) University offers Online MBA Program Essay Essay Topic: Toefl Alabama (Manderson) University offers great opportunity for all busy students to get the proper education they need for advancing in their careers. As you already know, online MBA programs are always here to help those who don’t have time to attend school and get the same degree. This university has really strict rules for those students who are willing to enroll to this school. The rules have been set so students can learn what’s best for them and get equipped with all techniques for facing the real world challenges. The application deadline for this public school is rolling. According to the numbers, over 90% of all enrolled students get employed or get promoted in the first year of enrollment. The online MBA program offered by Alabama (Manderson) University has been AACSB accredited which represents the highest standard set for a business school. Alabama (Manderson) University accepts many applications, but only 90 will get shortlisted. This university requires average GPA score of 3.30 and 523 GMAT score. GMAT is a standard along with GRE test along with 2 letters of recommendation. You are not required with work experience in the business area if you want to get in. For all international students there is an additional requirement (TOEFL). For more information about the admission process you need to contact [emailprotected] According to Alabama (Manderson) University this online MBA program has been designed as flexible for all administrators, supervisors, coordinators, military personnel, managers and many others. It’s for those who are seeking to increase their impact on the industry and their workplace. This online MBA program is for those who have been searching for advanced management skills for attacking the industry and getting promoted from their current work position. This university cares for the students. All classes are recorded and can be reached whenever you feel you need them. The university provides 24/7 live support for any technical difficulties you might experience. It has a career center which is dedicated for your business from where you can get what you need for your education. Alabama (Manderson) University provides financial aid for covering your expenses. For in-state residents the full time and part time tuition is $334 per credit. The same cost goes for out-of-state residents. For more information about financial aid and tuition you need to visit the official website of this university.

Fault Lines, Raghuram Rajan, 2011 Essays

Fault Lines, Raghuram Rajan, 2011 Essays Fault Lines, Raghuram Rajan, 2011 Essay Fault Lines, Raghuram Rajan, 2011 Essay Fault Lines, Raghuram Rajan, 2011 Name: Course: Instructor: : Institution: Date: Fault Lines, Raghuram Rajan, 2011 CHAPTER FOUR: A Weak Safety Net 83 This chapter begins with the narration about a student, Badri, who came to the United States more than 25 years ago (Rajan, 2010). After obtaining some degrees and a PhD, he found himself employment at in Washington DC making chips for a German –American firm. He was tasked with the responsibility of ensuring that the fabrication line was up to date and functioning well with the aim of reducing the production of defective chips in this production line. His knowledge was well used by the entity for troubleshooting in the production processes to a point of working seventy-hour weeks (Rajan, 2010). However, the firm later split from a joint venture between the two partners, America and Germans into individual ventures. Badri was able to retain his job and specialized in fabrication of memory card chips leading to the production of smaller memory chips. In addition, the declining production processes also resulted in the reduction of the entity size (Rajan, 2010). The transformation was evident form a large partnership to an eventually smaller farm with increasing debts in an industry, which could be simply termed as capital intensive because of the presence of identical firms with larger capital bases for support in low revenues periods, as the market was usually unpredictable. Following the 2008 financial crisis the organization decided to lay off all of its workers in the United States because of the need to preserve resources. In addition, the organization had already increased its capital bases. Hence, it was under pressure whether to close either the German or the American plant. Badri was laid off and had to survive on meager savings coupled by the costs of living, insurance, and mortgage. In addition, the company was unable to pay for his retirement as it had been declared bankrupt (Rajan, 2010). According to the author, the United States is under what could be described a weak safety net all due to the asset bubble which instigated the financial crisis of the year 2008 whose effects the world is still reeling from today. A weak safety net is unhealthy for any given economy as evidenced by the American economy where peoples especially the unemployed. Hence it is difficult for individuals to survive this era without jobs coupled by the presence of expensive healthcare instead of provision of adequate and affordable services to such brackets of the economy and enable them get through the difficult times awaiting the economy to get back to normalcy (Rajan, 2010). From Badri’s situation, it is evident of the effects of the financial crisis of 2008. Firms were forced to forego operations and close their plants due to the lack of adequate funds or entire lack of funds for operations. In addition, this crisis was also attributed due to increased costs of operations for entities coupled by low returns by organizations. Hence, it was difficult to maintain operations without the presence of adequate funds for survival through this period. Only the strongest entities, which had adequate financial reserves and sound financial and economic policies, were bale to withstand the crisis. Some shopped for bargains in the collapsed entities with the aim of acquisition of equipment at low prices for use within their individual companies (Rajan, 2010). As the title suggests, a safety net is important for low incomes earners as well as for those who have inadequate finances to sustain their survival. This is evidenced in Badri’s situation as he lacks adequate funds for survival given that he has a potential medical condition that could easily turn into diabetes. The lack of affordable insurance could easily lead to diabetes as he lacks cove3r for any ailments for himself and his financially vulnerable family. His ability to access private insurance due to its costs and the criteria for selection of eligible members is an indication of the inequality within the American health system in terms of the ability to access medical insurance. From the author’s narration, it becomes evident of disparities, which are present between those who could be considered as financially well off in comparison to financially vulnerable individuals whose numbers increased due to the loss of employment as specifically the global financial cr isis (Rajan, 2010). In essence, the author provides a vivid elaboration of the lack of a strong safety net to caution vulnerable individuals such as Badri from the tough economic pressures such as expensive health insurance, costly mortgages given the presence of inadequate finances or the utter lack of the same. Furthermore, the lack of proper safety shows the weaknesses of government in terms of provision of equal services to all. This is evidenced by the vast differences in terms of costs of health insurance, private and organizational or public insurance (Rajan, 2010). In conclusion, the author seems to emphasis the failure of the government to caution the lower bracket of its citizens form the financial crisis all of which was due to greed for profits by large business, which were considered as too large to fail. In addition, the failure to provide security and a secure safety net by the government eventually led to the generation of disproportionate monetary and fiscal policies, which led to escalation of the financial crisis (Rajan, 2010). New concepts The term safety net is used to imply to policies implemented by the government with the aim of cautioning vulnerable and poor people from socioeconomic shocks, as evidenced by the finance crisis of 2008, which led to foreclosure of numerous homes, loss of jobs, expensive healthcare or inaccessible health insurance (Rajan, 2010). CHAPTER FIVE: From Bubble to Bubble 101 The author describes Ben Bernanke’s word where he was of the view that â€Å"fluctuations of output and inflation had steadily decreased from the 1980’s to the year 2004 (Rajan, 2010). His claims were made on the presumption that the economic policies were sound given the presence of steady growth, lack of high inflation, booms, and busts. Such good economic growth could be attributed to three various factors: the presence of luck given economic setbacks such as increase in oil prices, and wars. Secondly, the rapid evolution of the economic world as industries and corporations become efficient in making production decision due to the ability to obtain and process sales information. The ability of such improvements could be attributed to the ability of countries and firm’s ability to evade recessions as in the past. Thirdly, the improvement educational systems enabled production of good economists with relevant knowledge on the effects of economic policies on the production processes and actual output by economies (Rajan, 2010). In addition, the Bernanke also considers that current economists were furnished with better skills in the formulation of better monetary policies in comparison to the predecessors who were driven by mere intuition and unfounded economic beliefs on the relationship between monetary polices and economic output. However, his view on economic policies was strained after the 2008 occurrence of the financial crisis. He appealed to congress to rescue the financial markets and entities for man imminent collapse of the economy, which could easily turn, into a depression. Congress was supposed to provide adequate bailout for the entities in financial crisis. His plea for help is an indication of the flaws, which were present in the monetary policies used by the Federal government (Rajan, 2010). The author is of the opinion that the financial crisis was due to the Federal Reserve’s mistakes. The initial mistake occurred in the year 2001 when the first recession took place and prompted the Federal Reserve to keep interest rates relatively low (Rajan, 2010). This led to increase in funds in circulation, in the United States, as well as other countries around the world. Given the influence of politics and economics, the Federal Reserve rates were influenced to the favor of some few. The second mistake was the indication of the Federal Reserve encouraged large investments by the low rates and showed indications of supporting these investors in the event of a bubble burst. This was the inception of risk taking given the presence of low interest rates given it was an attempt to create growth in the employment market (Rajan, 2010). The author uses this chapter to give an implicit indication of the role of the Federal Reserve in the financial crisis of 2008. In addition, the inability of the Federal Reserve was the inception towards the creation of a monster, which eventually grew into a great recession. In essence, the beginning of the financial crisis was set off by the setting of the interest rates. The Federal Reserve is mandated with setting, of which largely through short-term interest rates, which allow flexibility in terms of formulation of these rates as well as monetary policies. The relationship between long-term and short-term interest rates is identical as setting of long-term interest rates as identical to those of short term interest rates. Hence, if long-term interest rates are low then the short term interest rates are expected to be low (Rajan, 2010). Hence, the Federal Reserve failed in setting adequate or considerable interest for the populace to benefit and the eventual growth of the economy. In addition, the Federal Reserve short term interest rates had a great role to play in the economic activities which led up to the financial crisis of 2008. Short-term interest rates determine economic activity such as actual borrowing by the banks and mortgages (Rajan, 2010). Long-term interest rates, on the other hand, have a role in the determination of the returns by assets such as bonds, equity and houses, which are determined, by the returns accrued by interest rates. Inadequacy of the Federal Reserve is exhibited by the ignorance to heed to the call for adjustments as evidenced by the sharp increases in asset prices, which were driven by non-conventional forces such as increased risk, foreign funds and expansion of credit to unhealthy levels. This should have prompted the increase in rates to curb this unhealthy growth or asset bubb le, which eventually burst under the watch of the Federal Reserve due to their failure to act in order to drive growth. Low short-interest rates prompted investors to undertake more risk with the promise of more returns. In addition, foreign funds flowed into the United States, which is an illustration of the widespread of the financial crisis. Investors from countries like Japan and German sought the prominent mortgage-backed securities, which were on high demand. These fueled the growth of the securities and hunger for the seemingly low risk investments such as mortgages (Rajan, 2010). In addition, there was also expansion of credit, which also led up to the financial crisis. The rise in asset prices enabled individuals and entities as well the needed collateral to seek loans. In addition, the low-income individuals who sought borrowing and were financed with loans to make payments for their individual needs, as they possessed adequate collateral given the high asset prices. In addition, the same was coupled by the presumption that the foreseeable future would have adequate liquidity hence banks were of the view that long-term financing on risky loans would be â€Å"safe† when that was not the case (Rajan, 2010). It is evident of the effects of monetary policies in the leaning against asset price rises. This is because monetary policies have a significant role in the financial stability of a country and specifically of its economy. In addition, the Federal Reserve could have regulated the markets instead of acting as a spectator while the asset prices increased dramatically. In addition, banks were in search of investors for their loans given the presence of high liquidity within the economy. Hence, lack of action in setting interest rates in relation to the market conditions, which were present-rapid growth in assets prices, easy access to loans, and low inflation-resulted in the eventual near collapse of the economy and specifically the financial markets. Hence, inadequacy in terms of acting by the Federal Reserve was the sole reason for ht bubble and the eventual burst of the bubble (Rajan, 2010). New concepts Philip’s curve-is described as the inverse relationship between the unemployment rate and that of inflation (Rajan, 2010). Expectation Hypothesis- is described as expectation that long-term rates within a market are predetermined by the market expectation of the short-term rates added to constant risk premiums (Rajan, 2010). CHAPTER SIX: When Money Is the Measure of All Worth 120 The French monarchy was among the first to introduce the use of annuities with the aim of raising funds when it did not have adequate cash to fund operations. This form of investment to the rich nobles was very prominent as it guaranteed individuals consistent receipt of payments until death. People were able to reap benefits from this form of payments if they were able to live for longer periods in comparison to their annuity payments (Rajan, 2010). However, this form of investment was flawed as it lacked security. This is evidenced by the Geneva bankers who took up thirty young girls and paid annuity for them form the french government. Because of the high returns from the government, more investors were attracted to this form of investment on the presumption of huge earnings. However after the french revolution in 1789, things were disrupted, and payment of the annuities was done with a currency which wads simply termed as undervalued given the economic situation. Hence, this group of bankers was prompted to default given that they were unable to pay back the Swiss investors with undervalued currency given that they had invested in highly valued Swiss currency (Rajan, 2010). From the historical crisis, there are various lessons, which can be drawn from the situation. The initial lesson is the utter disconnect of society and bakers because of their ability to identify opportunities to make quick and easy money. In addition, it is also evident of the urge to make money by the bakers in comparison to other businesspeople (Rajan, 2010). Furthermore, their knowledge in money matters is an added advantage as they are able to use such information for actual applications in making investments. Hence, from the keen eye of bakers innocent and small ventures can result in great and risky investments given the lack of securities. In addition, the numbers of the bakers ensured that they received compensation and payments from the new government after the revolution. Hence, in relation to the financial crisis, the numbers of the banking community and other investors ensured that they would receive intervention, bailout or funds invested from the government of their in vestments. In essence, the banking sector actions were as a result of the government’s aim to provide its citizenry with adequate and cheap housing coupled by the presence of foreign demand for high debt securities (Rajan, 2010). As evidenced by the events of the United States financial markets, slight changes in prices are bound to distort the markets in entirety. In essence, the private sector acted in a predictable, looking for bargains and making quick money provided the signs of making money are favorable, despite the presence of high risk in such an investment. In addition, such deals according to the author could be described as arms-length agreements as they do not have any consideration for the smaller party as they are driven by the need to make profits (Rajan, 2010). From this chapter, it is evident of the effects of inadequate and proper regulation within any financial system. The financial crisis of 2008 was because of what could be described as cause-effect in terms of the actions by the Federal Reserve and the financial market players. The lack of control and restrictions by the Federal Reserve gave the lenders and indication of the ability to invest in the risky investments given the high returns, which were possible within such investments. In addition, from a moral perspective it becomes evident of the lack of good business practice by the banks and the entire private sector (Rajan, 2010). In addition, the financial sector illustrated to the world that, without adequate and proper regulation, the sector would head for self-destruction bringing down with the entire economy. International and foreign banks had a great role in the housing market burst and the eventual financial crisis. Foreign central banks were presented with large dollar inflows given the increase in exports to the United States whereas the United States investors sought international markets for better returns on their investments given the low interest rates in the United States (Rajan, 2010). Brokers also had a significant role to play in the events up to the financial crisis of 2008. Mortgage brokers were responsible for seeking customers for the housing loans and processing of the same. From the acts of the brokers, they were driven by the need to make money via attracting more customers to their â€Å"attractive† mortgage payments where they persuaded customers with claims that they would get better value when they enrolled with the various brokers, which was subsequently false after various customers indicated hefty increases in their monthly mortgage payments (Rajan, 2010). This is an indication of the entry of malpractices into the banking sector and housing sector as the brokers held no regard for the customers. In addition, it is evident of lack of regulation in terms of the appropriate conduct of the brokers. In addition, the brokerage firms did not hold their workers liable for selling substandard loans given that they were merely driven by enrollment of new customers without any regard for the quality of the loans (Rajan, 2010). In conclusion, regulation on brokers would have ensured that they did not engage in bad business practices to their customers. In addition, the erosion of moral conduct in business has a large role to play in the lack of appropriate conduct in the housing market burst. The mere drive to cash in on the housing market was the drive for the brokers, the banks and the investors given the lack of securities and the favorable exchange rates (Rajan, 2010). New terms and concepts Unintentional guidance-this is guidance towards unwarranted behavior by actions or market forces (Rajan, 2010). CHAPTER SEVEN: Betting the Bank 134 The author begins with an indication that the qualities of nearly 60% of all mortgages were rated as AAA, which means they were without any doubt of the highest quality. In contrast, only less than all corporate bonds in the markets are usually rated as AAA. Normal relations or correlation of defaults in mortgages is usually extremely low as the presence of unavoidable circumstances such as ill health or loss of jobs. Hence, there were no forecasts in terms of the correlation between the mortgages and default by the homeowners (Rajan, 2010). In addition, the AAA rated securities were lucrative because they offered higher returns in comparison to the corporate securities. The agencies did not anticipate the correlation between the defaults and mortgages as indicated by their ratings. In addition, the increase in mortgages led to a pool of flooded with identical packages of mortgages. Furthermore, the similarities in terms of the pools of mortgages increased the rate or possibility of default by the customers of the mortgages. This is because any signs of problems in the market would result in a collective pullout by the banks leading to spread of the problems across the country. In addition, the AAA mortgage backed securities were disguised by the presence of high ratings and their high and lucrative returns (Rajan, 2010). Some entities such as AIG were among the biggest losers in the financial crisis. The entity sold insurance through credit evasion swaps, which were valued on asset-backed securities, which were worth billions of dollars inclusive of AAA rated mortgage-backed securities (Rajan, 2010). However, the values of the asset backed bonds provided by AIG reduced significantly in value as the economy went into a recession. In addition, the defaults on mortgages proved larger than expected given the numbers of banks involved and the numbers of issued mortgages. The events led to losses of billions of dollars as the AIG’s liability in relation to the swaps increased forcing the entity to mark down its portfolio. Due to the increased liabilities, parties who had invested in the firm sought legal remedies to ensure that AIG would honor payment of the swap liabilities. The entity become the largest recipient of bailout funds amounting to more than $150billion dollars after it was unable to re pay the liabilities (Rajan, 2010). From this chapter, it is evident that the banks, which churned out these risky investments to the markets, still held on these risky investments given that these securities had an AAA rating. In essence, these risky investments proved very lucrative especially for the large banks. The risks, which were associated with these ventures, were regarded as unlikely; hence, banks sought after them with ample zeal as they promised high returns given the demand for adequate housing. This is what the author considers as tail risk given the low probability of occurrence of these risks. However, to their dismay the risks led to one of the most devastating financial crises in the United States. In addition, such risks would be evidenced by the countrywide scare within the housing market leading to countrywide defaults on the housing mortgages. Another aspect was the gravity of these risks, which is their eventuality of occurrence, would prove as very costly for investors and the banks in general (Rajan, 2010). Bankers were forced to take on these kinds of risks due to several factors. Risk-return relationship was one of the most significant factors, which led up to the uptake of these risky investments by the banks on the promise of higher returns. This is because risky investments are lowly priced but tend to produce higher returns. In essence, the onset of these risky investments was marked by high returns as evidenced by AIG Bear Stearns, Citigroup, and Lehman Brothers and other large entities, which realized higher returns before the onset of the recession. These entities were swallowed up by the recession, as they did not have adequate reserves to enable them pay up their liabilities. This is because they thought the risks as having the lowest probability of occurrence (Rajan, 2010). Furthermore, entities were driven by the need to make profits given that those who object these risky investments were laid off by the top management in order to pave the way for the realization of higher profits through further investments in these highly risky investments. From this chapter, it is clear that the bankers and the investors ignored the growth and occurrence of the tail risks all due to the mere drive to make huge profits. From this chapter, it is evident that top management within the financial institutions lacked good risk management skills and the mitigation for the same. This is because any risks despite its minuteness should be evaluated for its cause-effect relationship on the company (Rajan, 2010). In conclusion, this is an indication of inadequacy of risk management within these entities. This is because, despite the presence of tail risks, the financial sector used money as the measure of all things. This is evidenced by measure of risks by the returns from making such a risk investment. Despite higher risks, higher returns make an investment in view of the bankers as a healthy investment. In addition, the market’s health was measured in relation to the presence of liquidity. Hence, the high liquidity in the market in the view of the bankers and investors was all due to the notion by these banking organization and investors of the ability of the government to bail them out in the event of defaults in the market. In addition, this notion was due to the ability of government to intervene in such issues. Hence, the government should institute adequate reforms to ensure that financial sector players refrain from taking advantage of investments with tail risks as identified by the author in this chapter (Rajan, 2010). New terms and concepts Alpha-Excess returns in a market for an entity all due to high-risk taking (Rajan, 2010). Tail Risks- are risks, which are considered to occur on rare occasions (Rajan, 2010). Unintentional guidance-this is guidance towards unwarranted behavior by actions or market forces (Rajan, 2010). CHAPTER EIGHT: Reforming Finance 154 The previous chapters have been helpful in the establishment of reasons for the occurrence of the recession and eventual effects of the same. Financial markets around the world have been brought back from the near collapse by their governments through government guarantees, new capital and additional lending. The scenario is unfathomable because banks were able to borrow at almost zero interest rates but charged hefty interests for any borrowing and gave their savers meager returns with consideration of the amounts borrowed. It is paramount according to the author, for the political class to instigate reform within the financial sector to seal what he had described as the â€Å"fault lines† with an aim of averting severe consequences and a reoccurrence of identical events (Rajan, 2010). These reforms have to be actualized despite the presence of doubt within the public domain as they view the system as favoring a few. This according to the author has been fueled by the huge bonus payments issued by these banks given that they are still struggling to meet their expenses and are surviving on bailout funds. The author is of the view that the private sector, government intervention and Federal inadequacy to give proper regulation to the financial sector had a big role to play in the eventual financial crisis of 2008. In addition, politicians were also to blame for their great support for capitalism, which eventually collapsed. In addition, entities will endure the financial crisis prompting the market players to look for remedies for this situation in other markets. Furthermore, the free-enterprise capitalism described, according to the author, should undergo extensive reform with an aim of preventing recurrence of identical events. Democratization or debt describes the choices individuals were posed in terms of making a financial decision, which had the potency to affect the society at large. Democracy the need to take up huge loans is a controversial issue because the loans resulted in huge countrywide defaults. Hence, democracy in terms of making a financial decision should be restricted as great freedom in the financial sector was among the reasons individuals were able to take up the great risks without regard for the potential consequences that they would bestow on themselves as well as the society. Thus, it is paramount to establish the best financing activities, which are aimed drawing utmost good within the new reforms with an aim of minimization of risks and the increasing the benefits of such for the majority of the citizens (Rajan, 2010). Reforms are a priority for the recuperation of the financial markets, the economy and the entities, as well. Competition was among the main aspects, which instigated the Great Depression of the 1930’s (Rajan, 2010). The author states the widespread effects of the financial crisis is attributable to a herd behavior by the banks who took up identical risks resulting in systemic losses after there were defaults. This was further fueled by the competitiveness by the banks who tried to outdo each other by taking up huge loans to compete against each other. From this chapter, it is evident of the need to limit innovation and some elements of competition because of the systemic risk associated with collective competition as evidenced by these banks (Rajan, 2010). It is also paramount for the internal functions of the banks to be analyzed and reformed because they under-priced risk due to breakdown in their internal governance. Another reform that is needed within the market is to do away the notion that an eventual crisis after taking on tail risks by entities would result in government intervention would be important as it would enable the entities to become responsible for their actions. In addition, some entities enjoyed implicit protection from the government, which enabled to conduct their operations without any care in the world for taking huge risks. Thus, it is paramount to ensure that no entity enjoys any kind of protection or favoritism from the government (Rajan, 2010). New reforms should be cycle proof as stated within this chapter. Hence, they should be â€Å"comprehensive, nondiscretionary, contingent, and cost-effective† (Rajan, 2010). This ensures that all the financial institutions are included within this kind of reforms and that none is given preference of favor over the others. In addition, the entities, which took up the risks, which were thought as immaterial or tail risks, but later materialized, should be penalized and made responsible for their actions. Alteration of incentive issued to the top management should be implemented to ensure that the bonuses due to them are spread out over the future years. This ensures that they are able to look at long-term strategies and effects of the decisions to the organization in the future (Rajan, 2010). In conclusion, it is also paramount to ensure that organizations do not engage in excessive risk taking while still maintaining basic financial freedoms. The financial crisis emanated from the friction between the government interference and the private sector, which could be termed as the location of the â€Å"fault lines† (Rajan, 2010). Hence, to tackle this crisis government intervention should be restricted with an aim of withdrawing expectations that, in similar events, the private sector would draw similar intervention in the form of bailouts, guarantees and incentives. CHAPTER NINE: Improving Access to Opportunity in America 183 The author argues that not all forms of inequality in terms of incomes or fiances are harmful to the economy. Disparities in terms of wages are used to indicate to the populace such as the young individuals of the fields in need of their skills and as a means of encouraging hardworking. However, society has a distorted means of achieving high wages, which includes, cheating, theft, birth or luck. The first reform according to the author would be to reform the schools and universities, as well as other tertiary institutions (Rajan, 2010). Educational reform is paramount as it forms the foundation of intelligence and relation of an individual with the society in the future stages of development. Hence, initial education such as elementary schooling could be reformed to ensure that a child is able to feel comfortable and enjoy the learning processes at an early stage. In addition, education should also include out of school education such as a discipline and determination to excel in life. Hence, good schools articulate self-discipline, urge to learn and good morals In tertiary institutions are usually considered as a preserve for those who posses adequate finances or come from well of families. In equality in terms of incomes has a great role to play in achievement of tertiary education as some individuals from lower classes find it difficult to continue with tertiary education because of lack of adequate funds for schooling. Human capital according to the author is the greatest driver of growth as the skills acquired are used for creation of new opportunities and overall economic growth. Such after tertiary education can be enhanced through on-the job training. Apprentice ship according to the author enhances the skills acquired through schooling by an individual. Given the high Labour turnover, it is easy for entities in the United States to give skilled and trained individuals the opportunities to actualize their knowledge gained form the tertiary institutions. Such would have a long-term effect on the Labour sector in the United States as i t enhances the use of skills for growth in the field of training. The aim of redistribution of income is to reduce the numbers of people in need of a strong safety income due to poverty, low finances and inadequate education and skills to support themselves. The insufficiency of a good safety net in the United States after the occurrence of the financial crisis led to widespread anxiety leading to the formation of appropriate fiscal and monetary policies. In addition, to create a better safety net, better incomes enable people to save for unforeseeable future circumstances such that they do not have to rely on government intervention. In addition, the author is of the opinion that insurance requires adequate reform. This is because reform would ensure that the country as a whole would benefit from a better and predetermined extension of unemployment insurance (Rajan, 2010). Healthcare is another field, which needs adequate reform. This is because the populace is full of anxiety about their loss of health insurance for themselves and their families, which were initially provided for by their employers. Healthcare reform should also include organizational reform within the hospitals and sharing of information between the hospitals for better management of the hospitals and their finances. In addition, equality in terms of access to healthcare should be instituted (Rajan, 2010). Government capacity in terms of expenditure should be restored. Such can be achieved by increasing spending in areas such as Medicare and Medicaid, which have been under-funded as indicated by the increasing liabilities for the government in healthcare. In addition, increasing government expenditures have also been a source of anxiety for the populace because of the view that increased spending would result in higher taxes to cater for such expenses. However, increased taxes is a sure way of restoration of the government coffer preferably if the increase is executed in an equal and proper way. In essence, from this chapter, for the country to pick itself up again from the effects of the financial crisis from which the economy is still reeling from, reform is inevitable. The consumption in the united sates was driven by the inequalities among the populace all of which is due to the presence of polices which seemed to favor inequality. Despite the negatives posed by the government intervention after the financial crisis, which the private sector expected, it is paramount for the government to intervene further for the adequate recovery of the economy. This is because inaction by the government is detrimental to the economy in comparison to further intervention, which however ha s negative effects. This is because the private sector feeds on the notion provided, that the government would always intervene in the event of any financial crisis as was evidenced by the financial crisis of 2008 (Rajan, 2010). In conclusion, from this chapter reform comes as a priority for the government for eventual recovery of a slumped economy. In addition, adequate, proper and reformed education sectors would ensure the development of competent and divers human capital in the United States. Skilled labor is a drive of economic growth in any economy. This would ensure that those whoa able to penetrate within the walls of education are able to acquire adequate and relevant employment. This would ensure that those who work hard are bale to accrue greater benefits. Hence, educational institutions should uphold high levels of moral standard sin execution of tasks. The financial crisis could also be attributed to lack or inadequacy of morals in the private sector, which is driven by the mere need to accrue supernormal profits (Rajan, 2010). References Rajan, R. (2010). Fault lines: How hidden fractures still threaten the world economy. Princeton: Princeton University Press.

NUTRITION RELATED DISEASE Research Paper Example | Topics and Well Written Essays - 2500 words - 3

NUTRITION RELATED DISEASE - Research Paper Example Nutrition on other side can be defined as food that works in the body; components that are required in the body so as to grow, reproduce, and live a normal healthy life. Foodborne illness also known as foodborne disease is the term used to refer to symptoms associated with consumption of contaminated foods (Duggan, Walker and Watkins 179). Food poisoning entails eating contaminated foods as a result of poisons, or disease causing micro-organisms. On the other hand, nutrient related diseases are diseases that result from deficiency of some nutrients in the diet or over-consumption of some nutrients. According to Berdainer, Dwyer and Feldman, safe food is the major concern of all living things as well as food industry. Safe food contributes immensely towards protecting living things from foodborne illness. Additionally, observance of food safety contributes immensely towards reducing the rate of immortality as a result of consumption of contaminated foods. Safe food also entails taking in good diet. In tandem to this, consumption of safe food lowers the cases of nutrient related diseases. Food contamination is among the key elements that contribute to health problems. In most occasions, it is caused by the presence of unwanted micro-organisms, chemicals and physical elements in food. Food contamination is very crucial because it leads to occurrence of food borne illness. For instance, it is through consumption of bacteria as a result of food contamination that one develops gastrointestinal problems. Food contaminants have also the potential to cause death if not controlled in ti me. For instance, it is evident that typhoid leads to death if not treated effectively. Food additives are ingredients added to the produced food in order to increase its shelf life, enhance its flavor or change its physical appearance. Despite their contribution to successive maintenance of the quality of food, it is evident that they also cause some problems to people who are

Is woman better cost saver Study on board gender diversity and cost of Research Proposal

Is woman better cost saver Study on board gender diversity and cost of capital in Hong Kong - Research Proposal Example In addition, many organisations witnessed better degree of management and governance with involvement of women workforce in boards and management teams (Farrell and Hersch 85-106; Standard Chartered Bank 1-60). In a number of countries, specifically, Singapore, the United Kingdom, Switzerland and the United States, gender diversity in a company’s board is being given a lot of importance due to its positive impact on the company’s performance (Terjesen and Singh 55-63). The legal and regulatory organisations have become a constant source of encouragement for board diversity. In Europe, jurisdictions have enacted laws that favours gender diversity in company’s board. Similar trend has been noticed in other countries, namely, Australia, Canada, Norway, Singapore and the United States (Grosvold, Brammer and Rayton 344-357; Terjesen and Singh 55-63). In the United States, the Securities and Exchange Commission made it official in 2009 for listed firms to disclose about their board formation, involvement of gender diversity in its boards and its impact (UK Government; Weir and Laing 86-95). In 2012, the Hong Kong Stock Exchange pointed greater emphasis on gender diversity as an important component of corporate governance framework. In Hong Kong, board diversity is considered important by internal as well as external shareholders in various listed companies due to certain reasons: Notwithstanding that gender diversity on board has gained importance in many countries nowadays, it has been understood so far that all existing literatures have mainly focused on gender diversity in companies located in western countries, while very little research has been done on Asian countries, such as, China, especially in Hong Kong. The aim of the research proposal is to evaluate the degree of gender diversity in the boards of Hong Kong’s listed companies and their impact on

Fans and their Diehard Spirit Essay Example | Topics and Well Written Essays - 750 words

Fans and their Diehard Spirit - Essay Example Fans and their Diehard Spirit Indeed even today millions go through the writings and the meanings and perceptions, that one can gather from Karl Marx engraved thoughts, can very much be likened to the crowd behaving at the NBA game. People differ in their perceptional qualities and attitudes and it is this difference, which the writer really wants to portray in the context of the NBA game. The writer has been quite successful in this process and allows the reader to very well project the human tendency, to view things differently under altering conditions and situations. It is very true that in one sense this renders a subtle effect, which helps the players to get on with the game. But fans and spectators who watch a game differ in their viewpoints based on what they see and believe. It is this inner reaction which is produced, that is very well exhibited by them, in the form of different kinds of emotions during the course of the game. In certain cases such emotionally charged up fans turn out to be fanatics, when their spirits burst out of them in the form of violent actions. In many cases where the fans have become fanatics, they lose control on their self and most of them indulge in activities, which cause harm to the surroundings. Indeed a very good example can be had from the incidences that happened during the course of the NBA game between the Boston Celtics versus Utah Jazz, which would give a very good perspective of the fans and their behavior during the course of the game.... But to sum it up it is really the fans that enliven any game, no matter which ever part of earth it is being played, that brings the true spirit of the game. Though the perceptions and their attitudes are totally different, the fans really crowd together and spend their valuable time to cheer up for their home teams. This very well show that people really club together as per their likes and also are more attached to their natives, than to the foreigners. In some cases it is this team spirit and the excessive fan spirit, which really spoils the games since there have been several past occasions of fans turning very rude and indulging in clashes. This is clearly revealed in the below lines that states â€Å"The filmmaker was even struck blurring the camera from taking clear shots of the event†. (www.thegazette.com) This above said human perceptions and the difference in attitudes bringing contrasting actions can be very much likened to the Karl Marx writings, which have the sam e effect on the reader even after so many years. Karl Marx People around the world perceive things differently because they are quite intrinsically different and are sure to hold different view points, about a certain thing that occurs in the world. This could be with regards to a particular object, a phenomenon occurring in nature or it could be any incidence that normally happens, in the course of the day today life. It is this difference in the view point or the perception of the individual human beings, which Karl Marx tries to bring out through his writings. It very well proves that the same terms, whatever it may be philosophical or any other word that may be used with regards to a particular context, could bring into picture one set

How does New Mexico's (Albuquerque and Santa Fe) media (newspapers) Essay

How does New Mexico's (Albuquerque and Santa Fe) media (newspapers) portray issues of drought and water allocation in the state o Geography of Albuquerque and Santa Fe - Essay Example The Albuquerque MSA population includes the city of Rio Rancho, one of the fastest growing cities in the United States, a hub for many master-planned communities which are expected to draw future businesses and residents to the area. According to the United States Census Bureau, Albuquerque has a total area of 181.3 square miles (469.6km). 180.6 square miles (467.8km) of it is land and 0.6 square miles (1.6km) of it (0.35%) is water. The metro area has over 1,000 square miles developed. Albuquerque lies within the northern, upper edges of the Chihuahuan Desert ecoregion, based on long-term patterns of climate, associations of plants and wildlife, and landforms, including drainage patterns. Located in central New Mexico, the city also has noticeable influences from the adjacent Colorado Plateau Semi-Desert, Arizona-New Mexico Mountains, and Southwest Plateaus and Plains Steppe ecoregions, depending on where one is located. Its main geographic connection lies with southern New Mexico, while culturally, Albuquerque is a crossroads of most of New Mexico."(Albuquerque, 2007) Wikipedia goes on to further detail the geography of the region as follows: "Albuquerque has one of the highest elevations of any major city in the United States, though the effects of this are greatly tempered by its southwesterly continental position. The elevation of the city ranges from 4,900 feet (1,490m) above sea level near the Rio Grande (in the Valley) to over 6,400 feet (1,950m) in the foothill areas of the Northeast Heights. At the airport, the elevation is 5,352 feet (1,631m) above sea level. The Rio Grande is classified, like the Nile, as an 'exotic' river because it flows through a desert. The New Mexico portion of the Rio Grande lies within the Rio Grande Rift Valley, bordered by a system of faults, including those that lifted up the adjacent Sandia and Manzano Mountains, while lowering the area where the life-sustaining Rio Grande now flows".( Albuquerque,2007) Santa Fe is located within the same region .Santa Fe is situated in the northern part of the Rio Grande Valley which essentially falls at the southern edge of the Rocky Mountains. It enjoys an area of 37.33 square miles and is situated at an elevation of 7,000 feet above sea level. The city is located in the foothills of the Sangre de Cristo mountain range, and has a dense pine forest on the outskirts which can be reckoned as near to the city. Mountain terrains enforce a kind of semi arid continental climate in Santa Fe and due to this climate the city has moderate summers and winters. In general the humidity is experienced at low levels and the bright sun shine is present almost 300 days per year. However Santa Fe receives very good snowfall and the annual average is clocked at 32 inches with deeper snows remaining fast at higher altitudes during the winter. General Climate of Albuquerque and Santa Fe Albuquerque and Santa Fe represent arid to semi arid kind of climate .Wikipedia describes the climate of Albuquerque as follows: "Albuquerque's climate is usually sunny and dry, with low relative humidity. Brilliant sunshine defines the region, averaging more than 300 days a year; periods of variably mid and

Essay due in Asian Collection at the Metropolitan Museum of Art

Due in Asian Collection at the Metropolitan Museum of Art - Essay Example The Asian collection of Art works at the Metropolitan Museum of Art contains a large number of Art works from Asian countries. It is renowned for its collection of Chinese and Indian Art works displayed. Thesis statement: From the perspective of a viewer, discussion on the basic differences between Chinese and Indian art and analysis of a piece of art to unearth its history, the artist’s motives and expression. The Asian collection at the Metropolitan Museum of Art includes a wide range of Art works from different cultures from Asia. The collection includes gifts from philanthropists who collected different types of Art works from different cultures in Asia. Besides, the collection covers the 4000 year history of Asian Art. Some important differences between the Chinese and Indian art objects which represent the Asian Art are mentioned below. The Chinese collection includes Calligraphy and painting which represent its rich tradition of Art. Carol Michaelson and Jane Portal opine that: â€Å"Chinese painting is quite different from brightly coloured Western oil painting† (Michaelson and Portal 8) the tradition of painting in China is entirely different from Western form of oil painting. Besides, the Art works represent the history of different dynasties that ruled over China for centuries. For instance, the work ‘Model of a watchtower’ represents the Eastern Han dynasty in ancient China. But the Indian collection is different from Chinese works. The difference from Chinese Art can be seen in the usage of colors, medium and theme. The favorite medium of Indian Artists includes paper and cloth. For instance, the work ‘Mahavira Sitting at the Top of the Universe: Folio from a Kalpasutra Manuscript, 15th century’ is in paper. The favorite theme of Indian artists includes stories from sacred te xts. In addition, red is a dominant color in Indian Art works. But the favorite colors

How does New Mexico's (Albuquerque and Santa Fe) media (newspapers) Essay

How does New Mexico's (Albuquerque and Santa Fe) media (newspapers) portray issues of drought and water allocation in the state o Geography of Albuquerque and Santa Fe - Essay Example The Albuquerque MSA population includes the city of Rio Rancho, one of the fastest growing cities in the United States, a hub for many master-planned communities which are expected to draw future businesses and residents to the area. According to the United States Census Bureau, Albuquerque has a total area of 181.3 square miles (469.6km). 180.6 square miles (467.8km) of it is land and 0.6 square miles (1.6km) of it (0.35%) is water. The metro area has over 1,000 square miles developed. Albuquerque lies within the northern, upper edges of the Chihuahuan Desert ecoregion, based on long-term patterns of climate, associations of plants and wildlife, and landforms, including drainage patterns. Located in central New Mexico, the city also has noticeable influences from the adjacent Colorado Plateau Semi-Desert, Arizona-New Mexico Mountains, and Southwest Plateaus and Plains Steppe ecoregions, depending on where one is located. Its main geographic connection lies with southern New Mexico, while culturally, Albuquerque is a crossroads of most of New Mexico."(Albuquerque, 2007) Wikipedia goes on to further detail the geography of the region as follows: "Albuquerque has one of the highest elevations of any major city in the United States, though the effects of this are greatly tempered by its southwesterly continental position. The elevation of the city ranges from 4,900 feet (1,490m) above sea level near the Rio Grande (in the Valley) to over 6,400 feet (1,950m) in the foothill areas of the Northeast Heights. At the airport, the elevation is 5,352 feet (1,631m) above sea level. The Rio Grande is classified, like the Nile, as an 'exotic' river because it flows through a desert. The New Mexico portion of the Rio Grande lies within the Rio Grande Rift Valley, bordered by a system of faults, including those that lifted up the adjacent Sandia and Manzano Mountains, while lowering the area where the life-sustaining Rio Grande now flows".( Albuquerque,2007) Santa Fe is located within the same region .Santa Fe is situated in the northern part of the Rio Grande Valley which essentially falls at the southern edge of the Rocky Mountains. It enjoys an area of 37.33 square miles and is situated at an elevation of 7,000 feet above sea level. The city is located in the foothills of the Sangre de Cristo mountain range, and has a dense pine forest on the outskirts which can be reckoned as near to the city. Mountain terrains enforce a kind of semi arid continental climate in Santa Fe and due to this climate the city has moderate summers and winters. In general the humidity is experienced at low levels and the bright sun shine is present almost 300 days per year. However Santa Fe receives very good snowfall and the annual average is clocked at 32 inches with deeper snows remaining fast at higher altitudes during the winter. General Climate of Albuquerque and Santa Fe Albuquerque and Santa Fe represent arid to semi arid kind of climate .Wikipedia describes the climate of Albuquerque as follows: "Albuquerque's climate is usually sunny and dry, with low relative humidity. Brilliant sunshine defines the region, averaging more than 300 days a year; periods of variably mid and

Ethics Essay Example | Topics and Well Written Essays - 500 words - 4

Ethics - Essay Example Thus, when studying western ethics, it is incredibly important to be able to understand not just one but several ethical codes. Three of the most important ethical codes are virtue theory, deontological ethics, and utilitarianism. Virtue theory is an ethical code that rests on the intrinsic virtues of an individual. This theory has, in some ways, a highly internalized locus of control, and in other ways an externalized one. This is because one can evaluate virtue either on the individual level (meeting one’s own expectations of virtue) or on a societal level (mirroring societal constructs of virtuous behavior). The most important thing about virtue theory is that it is almost completely unrelated to individual action taking (Crisp & Michael, 1997), focusing more on the internal character of a person than background or consequence of actions. Virtue ethics remind me of times in which I try to improve myself for no reason other than being a better person – holding doors open, for example. Deontological ethics differ greatly from virtue ethics on a number of levels. The fundamental idea of deontological ethics is that one must comport one’s self in a method that complies with a set of rules. The origins of these rules can change drastically from philosopher to philosopher, ranging from highly variable understandings of rules as basic obligations to uphold certain philosophical principles, to highly restrictive understanding of rules such as those in moral absolutism, in which certain actions are either considered unambiguously moral or amoral. This philosophy obviously seems prone to an externalized locus of control. This kind of philosophy reminds me of occasions when, as a child, I would behave in a certain way (eating my vegetables, for instance) out of an obligation without necessarily agreeing with that action. The final major mode of ethics discussed in this paper is utilitarian ethics.

Measurement and Assessment in Teaching Essay Example for Free

Measurement and Assessment in Teaching Essay Once cargo has been packaged it must undergo standard checks at the inspection offices for goods entering or living the country through various shipping methods. The most acceptable measurement and inspection methods for the cargo are the sampling method. This method is preferred because it cares for both the quality of the products and total inspection cost. The method is generally timely, cost effective. The international standards of inspecting cargo universally agree on the use of sampling method to reduce the cost of inspection, if it were to be done on single entities. More so, there are set standards and levels of specifications on the maximum errors allowed for a product packaging, (Hunt, 1989). There are limited levels of defects and variation for the quality of product. A package should not exceed the maximum errors allowed. If the level is exceeded then the product or cargo is rendered unworthy and can not be delivered to the owners due to the defects that compromise the quality of the product. The cargo at this point is said to have failed the inspection as per the set code of standards; ISO 2859. inspection must follow the set standards regardless of whether the client request for specific tests or not. Clients are allowed to make specific test requests at will before the inspection begins, otherwise inspection will be done as stipulated. The set standards for international inspection must be adhered to by the test auditors and inspectors. Industrial standards that are legally accepted include NFK06-021/022, ANSI/ASQC Z1. 4-1993, ISO2859 (AQL Tables), DIN40. 080, ISO 14000, SA 8000, ANSI/ASQC Z1. 4/BS6001 and MIL-STD-105E/ ABC-STD 105. Each of these standards has its own specification for which industry products must have before they are packaged. The rule is that the standards must meet the social accountability and legal standards. When the commodities are found to contain any defect they may further be classified as critical, major, or minor depending on the level of contamination or the defect. Critical defect is hazardous for human consumption or it is bound to cause harm to the product’ consumer. This affects the functionality of the intended use of the product. When this kind of defect is detected it must be corrected. The product is not consumable under all circumstances and therefore it can not be shipped. It must be refined or discarded completely to avoid unsafe use of the product, (Dangerous Cargo Handling, 2008). On the other hand, major defects are those that may result in the interference of marketability of a product though not harmful in use. It may negatively affect the functionality of the product if uncorrected. Most clients may request for replacement if they are sold to these products. Minor defects entail the availability of foregone substances in the commodity such that they do not affect the functionality of the product negatively. It is expected that when this product is brought to the market it may satisfy majority needs. There are three different levels of inspection used in the international cargo inspection. They are the general inspection levels; general inspection level I, general inspection level II, general inspection level III. The most commonly used inspection level is the general inspection level II, which takes audit and quality tests on the product. There is a fourth category of inspection called the Special inspection level which is used for wider range of samples to eliminate more risks. It is used to test products that are suspected to be dangerous. General inspection level I is used for products that need less attention, it is for basic tests. General inspection level III is used for most discriminative requirements on the test samples. It uses engineering principles of testing the products’ quality. General inspection level III is time consuming and expensive though it can be used for elimination of large risk levels. 2) Interpreting the legal requirements in relation to the carriage of dangerous goods, present very different challenges for good assessment and evaluation The definition of dangerous cargo as stipulated by the international maritime law entails all substances or cargo that may harm the ship, the carriage, and other cargo that may be on board. Dangerous cargo handling required specialty and expertise to avoid hazardous events that may befall a carriage. There are examples of recent events of dangerous cargo harming the carriage. For instance, case involving major containership subject in which, â€Å"MSC Napoli† caused real destruction and pollution to the England’s South Coast. The carriage was beached on a natural beauty scene at the Coast yet on board was dangerous cargo worth million dollars. It had on board, 1700 tons hazardous cargo whose cost is over $ 100 million. All these went in to waste and caused more destruction to the environment, (Bergendorff, S. 1998). Poor containerization causes danger to many casualties. Massive explosions and fire outbursts are common with improper handling and outlawed procedures in dangerous cargo carriage. The international community has formulated laws and code of ethics regarding the international transportation system in which laws regarding handling of dangerous cargo have been clearly set out. This is aimed at minimizing or curbing poor handling and packaging of cargo at the terminals. This has in the past resulted in damages worth billions of money hence low economic growth and poor environmental conservation. The â€Å"International Maritime Dangerous Goods Code, the IMDG Code,† is a formulation of codes of safety that must be adhered to by any personnel handling dangerous cargo within the international community, UAE, (IMDG, 2007). This law is designed in accordance to the UAE international convention of 1974 in which signatories were signed for â€Å"Safety of Life At Sea, SOLAS. † UAE maritime code has the provision for the carrier to destroy or remove any dangerous cargo if it deems necessary. For instance, if the cargo owner would decline ownership incase of misfortune or if there were no proper agreements for international transmanship ethics. This cargo may be destroyed without compensation. Dangerous cargo may include explosives or highly inflammable. This is according the Article 271. In addition, dangerous cargo that has been loaded with proper consultation from the carrier, and it becomes a threat to the carriage then it can be destroyed without blame on the carrier. More over, when goods which are not necessarily dangerous are packed in the carriage and are not properly declared on the bill of lading are discovered on board, they can be jettisoned to avoid damage or fines on the cargo on board. This is further aggravated by the condition of the goods; if the goods are legally prohibited for sale or export, they must be destroyed or offloaded from the cargo transit. According to the law, the shipper is held responsible for any irregularity on goods he delivers that are reflected in the bill of lading, (Government of Alberta, 2010). In other words, the shipper is responsible for giving the correct information on shipping particulars and will be answerable for any damage on the cargo on board or the carriage itself, unless he gives a timely notice on any kind of irregularity. The law requires a shipper to ship only those goods that they have a clear consent of their level of toxicity and nature for which the carrier is defined. Third party who may fall victim of damage caused dangerous cargo, according to UEA law of 1985, Article 282 the civil Code shall hold the shipper responsible. This enables the shipper to ensure that they cross check their cargo and ensure that they transport only the required cargo. The shipper must ensure he does not ship wrongly described goods, since any damage caused to the cargo shall be charged on him. The law has environmental law clause concerning the protection for environment. This is found within the federal laws of UEA of 1999, â€Å"Protection and development of the Environment. † According to this law, omissions or acts that threaten the environment are punishable by the law, (Ziegler A. 2009). Criminal laws are also applicable in the cases where shipment of dangerous cargo causes death or injury to persons. The owner must ensure that they are authorized by the law to transact with the dangerous goods. In other words, international law regarding dangerous cargo shipment must be adhered to, if at all persons are to be free from blame in case of danger resulting from the shipment. The principle objective and learning instructional task in both dangerous cargo handling and assessment is to ensure that personnel dealing with shipment of different good have the basic knowledge and practical application towards quality of services and safety of the sea. The training involves important aspects like navigation, maritime laws, meteorology, and weather forecasting, watch-standing; handling small boats and ship-handling, deck operations and equipment, line handling and rope-work, communication for sails within the port, towing operations, dangerous cargo handling, attention to emergencies, storage of cargo, fire fighting and sea and is survival skills. The learning guide for cargo handling is well designed with the objective of meeting market requirements of loading and unloading of cargo. It is practice oriented with good features of on-site training to ensure advanced training for in service training and those who intend to join the shipment crew, (Fox, N. 1997). Another objective is to train staff on high technologies of cargo assessment and test procedures with the aim promoting safety and security in cargo handling. There are different principles of assessment that must be adhered to when assessing cargo. First is the type of cargo to be shipped, the type of container or package required and legal documentation of the carriage. Environmental conservation principled should be taken in to account when assessing the cargo and its package quality. Also safety of both the ship or carrier and the people involved as well as security of other cargo on board. Material labeling should be done conspicuously. Each type of cargo has its specification for packaging and secure material to use while handling it. Assessment is based on the general specifications found on the consignment and legislation regarding packaging and delivery of cargo from different origins and destinations. For instance, legislative requirements set for different cargo offer restriction to certain volumes and weights below which or above which the consignment should not be signed for transit. More over, the uses of packing material which can be recycled have become a requirement for certain types of cargo. If this is not done then the consignment may not be delivered to its destination. In addition, environmentally friendly material is requiring for packaging. Assessment tests shall only allow transit of well packaged commodities and pallets that meet the quality to be delivered for certain specifications. Packaging could be done on disposable or reusable packages for environmental safety purposes, (Devusy, et. al 1998). For instance, reusable packages may include load carrier which include flat wooden pallets, skeleton container pallets, liquid containers and universal small load carrier. The disposable packaging could include disposable pallets, disposable protective packaging, disposable liquid containers, disposable packing aids, and cardboards that are disposable. It is also required that the package be easy to clean if reusable, and easy to dispose if disposable. This packaging must be done in accordance to the environmental law. In conclusion, cargo pallet assessment and test procedures followed International Maritime Dangerous Goods Code has defined the safety procedures for packaging and transportation of cargo. Dangerous cargo has its set laws and regulation regarding test and assessment of quality and nature of the product. The law requires those handling the cargo to be careful with every step of packaging, assessment, documentation, shipment and delivery, (Batemen, et. al. 2007). It is required that environmental conservation is taken in to account since there are penalties associated with hazardous cargo that affects the environment upon mishandling or improper assessment and packaging procedures. There are objective for training those handling cargo of different natures and characteristics. Cargo characteristics must be defined in terms of quality and any defects found on the cargo must also be categorized to ensure corrections before repackaging. Generally, cargo handling is secured under the international law. References Bergendorff ,S. (1998). The Sky Came Down: Social Movements and Personhood in Mekeo Society. Oceania. Vol. 69 Batemen, S. , Mathai, M. Joshua Ho. (2007). Shipping patterns in the Malacca and Singapore Straits: An Assessment of the Risks to Different Types of Vessel: Contemporary Southeast Asia. Vol. 29 Dangerous Cargo requirements, cargo, handling Dangerous Goods: retrieved in 2010: http://web2. gov. mb. ca/laws/statutes/ccsm/d012e. php Dangerous Cargo Handling: retrieved in 29 October, 2008. http://adriamare. net/Training/courses/dangerous-cargo-handling/ Dangerous Cargo guidance Principally, Evergreen observes the IMDG. Retrieved on 01 July 2007: http://evergreen-marine. com/tbn1/html/DCGuidance. pdf Devusy, D. , Campton, P. , Hens, L. Nath B. (1998). Environmental Management in Practice; Volume 1: Instruments for Environmental Management -Vol. 1. New York: Routledge. Fox, N. (1997). Spoiled: The Dangerous Truth about a Food Chain Gone Haywire. U. S. Basic Books. Government of Alberta Ministry of transport: Dangerous Goods. Retrieve in 1995-2010. http://www. transportation. alberta. ca/519. htm Hunt, G. J. F. (1989) A Behavioral Approach to Instructional Design: A programmed Text. Plamerston North: Dunmore Press. Ziegler A. (2009). The Liability of the Contracting Carrier. Texas International Law Journal. Vol. 44

Leadership in the Virgin Group

Leadership in the Virgin Group In the past 20 years Richard Branson had extended his Virgin brand from one business of a magazine called student to distinct businesses like airline, trains, mobile phone, broadband, cola, bridal wear, financial services, retail chain, jeans, cars, and books. Branson started with a magazine with name of Student when he was 16 years age in January 1968. He was successful in selling its 50,000 copies at that time. (virgin, 2011) Later he quite the study and make it a fulltime job. In 1970 he started a mail-order company with name of Virgin that was name which now grow today in a big business empire. Virgin now a day is fast expanding business in world in many sectors from airline to broadband services. It is considered as worlds most respected and leading brand. Sir Richard Branson started what started in 1970 it is now a success empire of multi-businesses. It is dealing with 300 brands, more than 50000 employees and 11.5 Billion Pounds business currently. (virgin, 2011) In this study we are going to see how things are being managed at leadership levels by Richard Branson and his team for virgin group and how it is leading towards success of business. This report focuses on finding such theories, models of leadership that can be learned from virgin to put these for success of other organizations we will also find how Sir Richard Branson is dealing his own way to this group and how he is making progress in his business. In this study we will see the progress made by Virgin and later we will make analysis of approach adopt by Virgin and other in same industry. We will also look at Sir Richard Branson leadership style and will try to find some suggestion of improvement for Virgin in future times at end of our study. Virgin Success Model Virgin under Sir Richard Branson claims that they are difference maker in the world. For that they are trying to innovation in their ways to get higher in competitive advantages and in their diversity. They introduce virgin as a brand that stands for quality, innovation, competitive challenge, fun and value for customers money. They have good research and analysis system that help them in starting anything new. They claim that they put same shoe of customers to walk on the street of purchasing and utilizing things before going into a start. (Bartholomeusz, 2011) They work as trend setter in the market rather than being just followers. They deeply focus on their competitors approach and then develop a strategy that comes with better results. They make sure they are adding some values to any brand. They focus on risk and rewards. They are very much selective and careful in appointing their staff and management team. They even for Human resources went into joint-ventures with other companies to get maximum inputs and knowledge from skilled market. They have diverse approach with diversity in their products and services with bunch of variety in it. They are very much concern about their market and ways into that market. All this is lead by Sir Richard Branson. The power of virgin is hiding with leadership style of Richard Branson who is good in his ways and style. His reputation, network, partners and management brought him to this level as it mentioned on their by company itself. They got rid of bureaucratic ways of management and replaced it with competent self motivated management that is capable of dealing with situation their selves most the times instead looking for directions upwards every time as it is in every bureaucratic structure. They work as team as family even within their businesses and within the group of this brand virgin. There are some time certain problems for that their system provides a solution based leadership and at the top is Richard himself working like a good skilled leader and manager. Everything t hey try is customer feedback based and makes right guidelines for them every time when they miss something. Here is list of business under this group (virgin, 2011) :- Virgin Atlantic Airways, hello Gorgeous Virgin Blue (airline with its name as Virgin Blue, Virgin America, V Australia) Virgin Holidays ( Virgin Holidays + Hip Hotels, Virgin Holidays Cruises, Virgin Limited Edition, Virgin Vacations, Blue Holidays) Lifestyle (Virgin Active UK) Virgin Wines (Australia) Virgin Active (Australia, Italia, Portugal, South Africa, Spain) Virgin Experience Days Virgin Racing Virgin Trophy Virgin Mobile (Australia, Canada, France, India, Qtels, South Africa, UK and USA) Virgin Media Virgin Produced Virgin Money ( UK, Australia, South Africa, Money Giving) Virgin Earth Challenge Virgin Green Fund Virgin Unite (NGO) Virgin Megastore (music and entertainment) Virgin Radio International Virgin Festivals We can see how diverse market virgin have to deal under leadership of Richard Branson. This kind of divers, spread and wide business required higher levels of leadership with commitments to deal with it effectively that Richard is doing over the years. Leadership in any Organization has some specific focal point on administrative leadership as whole in that organization and it tries to fill the gap of academic management theoretical study and its practical implication on bases of real life situations. Here we will find what kind of approaches, theories and models are in practice with in leadership concept in business world. There are numbers of models and theories in leadership study, here are some of these mentioned under (associates, 2011) :- Appreciative Inquiry Attributes of Management Excellence Attribution Theory Bases of Social Power Beyond Budgeting Centralization and Decentralization Change Approaches Change Behaviour Change Equation Change Management Change Phases Changing Organization Cultures Charismatic Leadership Coaching Competing Values Framework Contingency Theory Core Group Theory Crisis Management Cultural Dimensions Cultural Intelligence Culture Levels Dimensions of Change Dimensions of Relational Work Emotional Intelligence EPIC ADVISERS ERG Theory Expectancy Theory Five Disciplines Force Field Analysis Forget Borrow Learn Framing Functional Leadership Groupthink Growth Phases Hagberg Model of Personal Power Hierarchy of Needs Inspirational Leadership Instrumental Approach of Stakeholder Theory Intrinsic Stakeholder Commitment Leadership Continuum Leadership Pipeline Leadership Styles Leadership Styles Level 5 Leadership Leveraged Buy-out Levers of Control Management Buy-out Management by Objectives Managerial Grid Managing for Value Mentoring Moral Purpose Normative Approach of Stakeholder Theory OODA Loop Organizational Configurations Organization Chart PAEI management roles Parenting Advantage Parenting Styles Participative Leadership Path-Goal Performance Prism Portfolio Analysis POSDCORB Positive Deviance RACI (RASCI) Result Oriented Management Results-Based Leadership SECI model Servant-Leadership Seven Habits Seven Signs Of Ethical Collapse Seven Surprises Situational Leadership SMART Social Intelligence Spiral Dynamics Stakeholder Value Perspective Strategic Intent Strategic Stakeholder Management Hence we will look some good models and theories among all above for that we select three which are more comprehensive in their approach. Part One (a) 1: Theory of Needs by David McClelland The human motivation is comprises of three main needs: 1 need for achievement 2 need for power 3 need for affiliation. This theory of needs was given by American psychologist David McClelland based on work of Henry Murray that was done in 1938. In 1961 he stated that the motivation of an individual can result from three dominant needs: the Need for Achievement, Power and Affiliation. (Pattanayak, 2005) Every person wants to achieve certain goals in his or her life that are very important to that person in the life. Some time they look for success and positive feedback from others. They look to widen themselves and to avoid risks situations. They mostly try to avoid low-risk because they want to attained success easily. While in some high-risk projects all achievers look the outcome as chance not the as a result for their efforts. They love to work their selves alone or some time with some other person with high achievements. McClelland believes about these people that those are always the best leaders with some tendency of higher demands from their staff. They are result driven in their approach. They seek higher personal relations and look for acceptance from others. They also tend look same kind of norms from their work group. They struggle to create and maintain relationships with higher level of trust and good mutual understanding. They always prefer cooperation on competition. According to McClelland they perform in customer service and dealing clients very well. McClellands this concept is also take as Acquired Needs Theory, the Learned Needs Theory, and Three Needs Theory. 2: Management by Objectives: (SMART) by Drucker In this theory main focus is on defining main objectives for organisations employees and later directing their performance according to these objectives. Peter Drucker presents it in his work The practice of Management as Management by Objectives in 1954. (Hurd, 2008) Management by objectives relies on focusing and defining the objectives for every employee and making their performance according to these objectives. The major aim is to increase performance in the organization through matching organizations goals and employees goals. Employees are given main identity and acknowledgement in this system. Purpose is to involve evry one in the organisation rather than focusing and giving importance to top managers. This way all mangers start from their levels and they later contribute on top level in planning and implementations. Principles of MBO:- 1 flow of organizations goals and objectives 2 Specific objectives for every member 3 Participation in decision making 4 Explicit time period 5 timely performance evaluations with proper feedback. Management by Objectives is having a method for development called SMART method this SAMRT is taken from * Specific * Measurable * Achievable * Realistic And * Time-related. This method of checking MOB is effective to keep organisation and staff on right direction always. 3 Centralization and Decentralization By changing the ways of decision making at authority levels and by corresponding organizations structure effectively higher goals can be achieved. All organizations have to make many strategic and many of the operational decisions. The question is who makes these decisions and at what level. In normal bureaucratic structure decision are always made by top management. Thus this system holds the time and makes slow of process and sometimes delays the required decisions. This is called centralisation and in Decentralisations thing is decided at implementations level other than any change required in policy which is changed at top management levels this makes things done in swift way. (Pride, 2009)Thus Centralization is process of transferring and passing on decision making authority at higher levels of hierarchy in organization. In a centralized organization decision are made at higher levels. Most the knowledge and information about organisation lie at top levels and are shared according o need at lower level. Decentralization, is process of transferring and passing on decision making authority at levels of hierarchy in organisation. In a decentralized organization decision are made at lower levels and they are informed to higher levels for records. Most the knowledge and information about organisation lie at lower levels and are shared according to need at top level also direction are taken when those are required. Part one (b) Implementation of models at Virgin and others Branson believed in the best communication through setting an example by the leadership. Staffs need to have a role model whom they can follow. Branson being a reel from traditional management structure and systems adopted a diverse approach that compromising all three models mentioned in our study previously. We will look into these at virgin by Branson and at other businesses in same industry like Sir Terry Leahy ways in managing of Tesco and Keith Rupert Murdoch of sky group one by one. Theory of Needs As mentioned above this theory is based on three main needs of need for achievement, need for power and need for affiliation. Richard Branson as young man was searching for all these and thus he focused on achieving these targets as soon as possible. For that purpose he started his magazine student. With early sales he generated lots of business and set virgin company. Later years he expanded it in diverse business, looking for these set targets of needs. He also made his company according to this principal of human needs and set a trusted mechanism for every employee in virgin business. As mentioned by David McClelland he creates a higher level of the motivation for an individual in his organisation to bring results from the satisfaction of these three dominant needs: the Need for Achievement, Power and Affiliation. He knows well that every person wants to achieve certain goals in his or her life that those are very important to them. That also need support from organisation to give room to everyone to show capabilities and get rewards, thats what virgin follows as a strategy in their businesses. He like McClelland believes that people have great capabilities if they are given proper training and chance to put their efforts in it. That is resin virgin have this kind of set up that supports these basics. On other hand if we see the TESCO and Sky they have different approach their business than what Richard brought to Virgin. (Telegraph, 2011) They have more tight control over things their corporate ways are not fit into need based theory but they have adopted some other ways to groom their corporate business. That reason that TESCO and Sky look more tight business in their terms and they sometime re hit by losses. When staff dont feels part of being into teams and they feel just as working brains and hands unlike the people who work at Virgin who look the Virgin as their life part due to its benefits that it is giving to them. 2: Management by Objectives At virgin this model is followed completely as organisation focuses on its objectives and makes employees get their targets set accordingly. They have to adjust things both way first company tries to accommodate employees objective and makes such corporate strategy that helps staff in achievement of their objective s and policies are supportive to employees in their growth. While employees are also expected to go with the broader objective s of company and be loyal to the company objective. It is in many studies that virgin having higher level of such loyalty from staff. Virgin ensures that there is enough support for employees identity and acknowledgement in their system. Purpose is to involve everyone in the organisation rather than focusing and giving importance to top managers. This way all mangers start from their levels and they later contribute on top level in planning and implementations. Virgin follows all principles of MBO like flow of organizations goals and objectives at all levels is ensured, there is set of specific objectives for every member, there is higher level of participation in decision making by staff, There is certain time span for targets and everything is based on time and feedbacks. Virgin also makes policies and targets based on SMART approach. Making all targets and objectives Specific, Measurable, Achievable, Realistic and Time-related. If we compare this with TESCO and Sky they also have this approach in their business and they try to keep them on this way of management by objectives. (mandmgloba, 2011) All three companies are doing well on it but it is fact that the way Virgin is following this rule is different from others two and they are doing remrably well in their performance compare to others two. Other two have huge investments supports but still if we compare the returns over investments Virgin is making ahead. While this approach of Management by objective is adopted by all these mega businesses in their strategy of dealing things in their business. 3 Centralization and Decentralization There is beautiful balance of centralisation and decentralisation at Virgins Group this was attained through by changing their ways of decision making at authority levels and by corresponding organizations structure effectively higher goals can be achieved. All decisions are made according to need and capacities. There is more freedom at lower levels in Virgin as Virgin leadership believes in human potential. Thus they avoid unnecessary delays in decision at implementation levels. On the other hand the concept of centralisation in TESCO (Hiscott, 2010) and at Sky is more tight than Virgin. Their decentralisation approach is some time affected by the ways of decentralisation for short times. They were failing to develop such kind of trust over their managers that the staffs of Virgin enjoy. The team building and degree of freedom for performance according to your skills is very high at Virgins comparing to TESCO and Sky. Both are facing good competition in their related product and se rvices with Virgins. As three of them are into media, mobile industry and service providing in different sectors. Part Two Sir Richard Branson leadership style. If we deeply study the style of Mr Branson he is a dynamic leader that always looks higher towards major goals in life. For that he adopts couple methods like Theory of needs, MOB and balanced centralisation and decentralisation. He more focuses on brand value of his company. He has very simple ways of living, he believes in enjoying life and sharing it with others. He is man of his own choices he choose what he liked instead of looking into his background on that business and he made success. He always bucking his team on different occasions as he wants them feels that he is with them in all matters. He has developed a culture at Virgins that cannot be found in many organisations. All employees of Virgin are invited to show and perform their capabilities. He is innovative person with many qualities of leadership in business that reason his company is expanding over the years. HE has invested his own rule for all this and put all his efforts as success that way. He is able to identify many hurdles and made much better than his compotators. He has given his employees great independence in work as he also welcomed them for fast promotions ov er the time. He has idea that anyone can took over the top in his company if they show such kind of commitments. Virgins all success in days of 1970s and 1980s is result of Bransons unusual way and management style that was corner stone on all this business and his corporate norms were different form the system that was existing at that time. He stopped wearing traditional businessmen suit and tie instead he use to wear a sweater and slacks. He uses technologies effectively compare to other and enjoy his holidays and dealing everything on phone, fax and internet. He gives his subordinates more freedom to work their tasks. He believes everyone wants to deal with top person so he provides his managers to deal with him directly. He gives his staff high performance incentives and he relies on his team. He also adopted a technique through which he have divided his company tasks into multi unit operations. His companies are connected with each other very well and some time supports each other. Most important is that he always encouraged to his employees go and do some innovation and take more risks instead of being in fear with failure risks. He is famous for his risk taking ability and habit. He normally emphasise on the importance that a service should bring for customers for the value of their money. He is skilled with troubleshooting and making new projects. His motto is to create such companies only in which he himself believes. Part Three Proposals for development Virgin group have their own ways of developing people it is the best way for them to carry things as Mr Branson himself was doing. As he can himself aware fully that every individual unlike his educational background have such capabilities that can make businesses grow remarkably. There should be a system of skill promotion based on theory of needs for the staff. It should more focus on hidden capabilities of people who are working in Virgin and those are trying to attain higher professional success though their hidden skills. There should be culture of responsibility in the company where people do feel their own responsibility instead of every time supervisors are making them to perform their duty. This thing can be brought when people feel trust by the supervisors to make decisions and do things on their own within certain limited that is secure. The group is already doing well by providing people innovative ways to show their skills while they are working with the company. There should be continue system of need based development and a balanced central and de-central approach. Things for Virgin unlike other business are very much bright as they have diversity if businesses. As Branson believed in aligning his company HR department with the values of company he is more conscious about his brand value. He also makes smart decisions when picking people for any task as if they have same bend of mind that is company value it would be easier for them to do best in their job. Virgin has a diverse approach so they dont have any set traits for any person to become employee at Virgins. However they use to select people who are ready to take responsibility in their own and can work hard. Main focus they always have is aligning with customers need and wants. Thus company has created its value in the business and market and made his brand as symbol of success and trust.