Bank Notes Essay

Linear Probability Models (LPMs) * Econometric model to explain repayment experience on past/old loans. * Regression model with a â€Å"dummy† dependent variable Z; Z = 1 default and Z=0 no default. * Weakness: no guarantee that the estimated default probabilities will always lie between 0 and 1 (theoretical flaw) Logit and Probit Models * Developed to overcome weakness of LPM. * Explicitly restrict the estimated range of default probabilities to lie between 0 and 1. * Logit: assumes probability of default to be logistically distributed. Probit: assumes probability of default has a cumulative normal distribution function. Linear Discriminant Analysis * Derived from statistical technique called multivariate analysis. * Divides borrowers into high or low default risk classes. * Altman’s LDM = most famous model developed in the late 1960s. Z < 1. 8 (critical value), there is a high chance of default. * Weaknesses * Only considers two extreme cases (default/no default). * Weights need not be stationary over time. 3. New Credit Risk Evaluation Models Newer models have been developed – use financial theory and financial market data to make inferences about default probabilities. * Most relevant for evaluating loans to larger corporate borrowers. * Area of very active continuing research by FIs. Credit Ratings * Ratings change relatively infrequently – objective of ratings stability. * Only chance when there is reason to believe that a long-term change in the company’s creditworthiness has taken place. * S&P: AAA, AA, A, BBB, BB, B and CCC * Moody’s: Aaa, Aa, A, Baa, Ba, B and Caa Bonds with ratings of BBB and above are considered to be â€Å"investment grade† Estimating Default Probabilities 1. Historical Data * Provided by rating agencies e. g. cumulative average default rates * If a company starts with a: * Good credit rating, default probabilities tend to increase with time. * Poor credit rating, default prob abilities tend to decrease with time. * Default Intensity vs Unconditional Default Probability * Default intensity or hazard rate is the probability of default conditional on no earlier default. * Unconditional default probability is the probability of default as seen at time zero. Default intensities and unconditional default probabilities for a Caa rated company in the third year Supplement point 14 by monitoring a combination of internal reports, prudential reports and market information. 16. Should intervene to require effective and timely remedial action to address liquidity deficiencies. 17. Should communicate with other regulators e. g. central banks – cooperation TOPIC 7: CORE PRINCIPLES OF EFFECTIVE BANKING SUPERVISION Overview * Most important global standard for prudential regulation and supervision. * Endorsed by vast majority of countries. * Provides benchmark against which supervisory regimes can be assessed. * 1995: Mexican and Barings Crises Lyon Summit in 1996 for G7 Leaders. 1997: Document drafted and endorsed at G7 meeting. Final version presented at annual meetings of World Bank and IMF in Hong Kong. * 1998: G-22 endorsed * 2006: Revision of the Core Principles * 2011: Basel Committee mandates a major review, issues revised consultative paper. The Core Principles (2006) * 25 minimum requirements that need to be met for an effective re gulatory system. * May need to be supplemented by other measures. * Seven major groups * Framework for supervisory authority – Principle 1 * Licensing and structure – Principles 2-5 * Prudential regulations and requirements – Principles 6-18 * Methods of ongoing banking supervision – Principles 19-21 * Accounting and disclosure – Principle 22 * Corrective and remedial powers of supervisors – Principle 23 * Consolidated and cross-border banking – Principles 24-25. * Explicitly recognise: * Effective banking supervision is essential for a strong economic environment. * Supervision seeks to ensure banks operate in a safe and sound manner and hold sufficient capital and reserves. * Strong and effective supervision is a public good and critical to financial stability. * While cost of supervision is high, the cost of poor supervision is even higher. Key objective of banking supervision: * Maintain stability and confidence in the financial system * Encourage good corporate governance and enhance market transparency Revised Core Principles (2011) * Core Principles and assessment methodology merged into a single document. * Number of core principles increased to 29. * Takes account of several key trends and developments: * Need to deal with systemically important banks * Macroprudential focus (system-wide) and systemic risk * Effective crisis management, recovery and resolution measures. Sound corporate governance * Greater public disclosure and transparency enhance market discipline. * Two broad groups: 1. Supervisory powers, responsibilities and functions. Focus on effective risk-based supervision, and the need for early intervention and timely supervisory actions. Principles 1-13. 2. Prudential regulations and requirements. Cover supervisory expectations of banks, emphasising the importance of good corporate governance and risk management, as well as compliance with supervisory standards. Supervisory powers, responsibilities and functions 1. Clear responsibilities and objectives for each authority involved. Suitable legal framework. 2. Supervisor has operational independence, transparent processes, sound governance and adequate resources, and is accountable. 3. Cooperation and collaboration with domestic authorities and foreign supervisors. 4. Permissible activities of banks is controlled. 5. Assessment of bank ownership structure and governance. 6. Power to review, reject and impose prudential conditions on any changes in ownership or controlling interests. 7. Power to approve or reject major acquisitions. 8. Forward-looking assessment of the risk profile of banks and banking groups. 9. Uses appropriate range of techniques and tools to implement supervisory approach. 10. Collects, reviews and analyses prudential reports and statistical returns. 11. Early address of unsafe and unsound practices. 12. Supervises banking group on consolidated basis (including globally) 13. Cross-border sharing of information and cooperation. Prudential regulations and requirements 14. Robust corporate governance policies and processes. 15. Banks have a comprehensive risk management process, including recovery plans. 6. Set prudent and appropriate capital adequacy requirements. 17. Banks have an adequate credit risk management process. 18. Banks have adequate policies and processes for the early identification and management of problems assets, and maintain adequate provisions and reserves. 19. Banks have adequate policies re concentration risk. 20. Banks required to enter into any transactions with related pa rties on an arm’s length basis. 21. Banks have adequate policies re country and transfer risk. 22. Banks have an adequate market risk management process. 23. Banks have adequate systems re interest rate risk in the banking book. 24. Set prudent and appropriate liquidity requirements. 25. Banks have an adequate operational risk management framework. 26. Banks have adequate internal controls to establish and maintain a properly controlled operating environment for the conduct of their business. E. g. delegating authority and responsibility, separation of the functions that involve committing the bank. 27. Banks maintain adequate and reliable records, prepare financial statements in accordance with accounting policies etc. 8. Banks regularly publish information on a consolidated and solo basis. 29. Banks have adequate policies and processes e. g. strict customer due diligence. Preconditions for Effective Banking Supervision 1. Provision of sound and sustainable macroeconomic policies. 2. A well established framework for financial stability policy formulation. 3. A well developed public infrastructure 4. A clear framework for crisis managemen t, recovery and resolution 5. An appropriate level of systemic protection (or public safety net) 6. Effective market discipline 001: IMF and World Bank Study on Countries’ Compliance with Core Principles * 32 countries are compliant with 10 or few BCPs * Only 5 countries were assessed as fully compliant with 25 or more of the BCPs. * Developing countries less compliant than advanced economies. * Advanced economies generally possess more robust internal frameworks as defined by the ‘preconditions’ 2008: IMF Study on BCP Compliance * Based on 136 compliance assessments. * Continued work needed on strengthening banking supervision in many jurisdictions, particularly in the area of risk management. More than 40% of countries did not comply with the essential criteria of principles dealing with risk management, consolidated supervision and the abuse of financial services. * More than 30% did not possess the necessary operational independence to perform effective super vision nor have adequate ability to use their formal powers to take corrective action. * On average, countries in Western Europe demonstrated a much higher degree of compliance (above 90%) with BCP than their counterparts in other regions. * Africa and Western Hemisphere weak. Generally, high-income countries reflected a higher degree of compliance. TOPIC 8: CAPITAL ADEQUACY Overview * Adequate capital better able to withstand losses, provide credit through the business cycle and help promote public confidence in banking system. Importance of Capital Adequacy * Absorb unanticipated losses and preserve confidence in the FI * Protect uninsured depositors and other stakeholders * Protect FI insurance funds and taxpayers * Protect deposit insurance owners against increases in insurance premiums * To acquire real investments in order to provide financial services e. . equity financing is very important. Capital Adequacy * Capital too low banks may be unable to absorb high level of losses . * Capital too high banks may not be able to make the most efficient use of their resources. Constraint on credit availability. Pre-1988 * Banks regulated using balance sheet measures e. g. ratio of capital to assets. * Variations between countries re definitions, required ratios and enforcement of regulations. * 1980s: bank leverage increased, OBS derivatives trading increased. * LDC debt = major problem 1988 Basel Capital Accord (Basel I) * G10 agreed to Basel I Only covered credit risk * Capital / risk-adjusted assets > 8% * Tier 1 capital = shareholders equity and retained earnings * Tier 2 capital = additional internal and external resources e. g. loan loss reserves * Tier 1 capital / risk-adjusted assets > 4% * On-balance-sheet assets assigned to one of four categories * 0% – cash and government bonds * 20% – claims on OECD banks * 50% – residential mortgages * 100% – corporate loans, corporate bonds * Off-balance-sheet assets divided into co ntingent or guarantee contracts and FX/IR forward, futures, option and swap contracts. Two step process (i) derive credit equivalent amounts as product of FV and conversion factor then (ii) multiply amount by risk weight. * OBS market contracts or derivative instruments = potential exposure + current exposure. * Potential exposure: credit risk if counterparty defaults in the future. * Current exposure: cost of replacing a derivative securities contract at today’s prices. 1996 Amendment * Implemented in 1998 * Requires banks to measure and hold capital for market risk. * k is a multiplicative factor chosen by regulators (at least 3) VaR is the 99% 10-day value at risk SRC is the specific risk charge Total Capital = 0. 08 x [Credit risk RWA + Market risk RWA] where market risk RWA = 12. 5 x [k x VaR + SRC] Basel II (2004) * Implemented in 2007 * Three pillars 1. New minimum capital requirements for credit and operational risk 2. Supervisory review: more thorough and uniform 3. Market discipline: more disclosure * Only applied to large international banks in US * Implemented by securities companies as well as banks in EU Pillar 1: Minimum Capital Requirements * Credit risk measurement: * Standardised approach (external credit rating based risk weights) * Internal rating based (IRB) Market risk = unchanged * Operational risk: * Basic indicator: 15% of gross income * Standardised: multiplicative factor for income arising from each business line. * Advanced measurement approaches: assess 99. 9% worst case loss over one year. * Total capital = 0. 08 x [Credit risk RWA + market risk RWA + Operational risk RWA] Pillar 2: Supervisory Review * Importance of effective supervisory review of banks’ internal assessments of their overall risks. Pillar 3: Market discipline * Increasing transparency – public disclosure Basel 2. 5 (Implemented 2011) * Stressed VaR for market risk * Incremental risk charge Ensures products such as bonds and derivatives in the trading book have the same capital requirement that they would if they were in the banking book. * Comprehensive risk measure (re credit default correlations) Basel III (2010) * Considerably increase quality and quantity of banks capital * Macroprudential overlay – systemic risk * Allows time for smooth transition to new regime * Core capital only retained earnings and common shares * Reserves increased from 2% to 4. 5% * Capital conservation buffer – 2. 5% of RWA * Countercyclical capital buffer * Tracing/monitoring of liquidity funding Introduction of a maximum leverage ratio Capital Definitions and Requirements * Common equity > 4. 5% of RWA * Tier 1 > 6% of RWA * Phased implementation of capital levels stretching to Jan 1, 2015 * Phased implementation of capital definition stretching to Jan 1, 2018 Microprudential Features * Greater focus on common equity * Loss-absorbing during stress/crisis period capital conservation buffer * Promoting integrated manageme nt of market and counterparty credit risk. * Liquidity standard introduced introduced Jan 1, 2015 Introduced Jan 1, 2018 Available Stable Funding Factors Required Stable Funding Factors Macroprudential Factors * Countercyclical buffer * Acts as a brake in good times of high credit growth and a decompressor to restrict credit during downturns. * Within a range of 0-2. 5% * Left to the discretion of national regulators * Dividends restricted when capital is below required level * Phased in between Jan 1, 2016 – Jan 1, 2019 * Leverage Ratio * Target 3% * Ratio of Tier 1 capital to total exposure > 3% * Introduced on Jan 1, 2018 after a transition period * SIFIs * Required to hold additional loss absorbency capital, ranging from 1-2. 5% in common equity

IOI Corporation Berhad Essay Example

IOI Corporation Berhad Essay Example IOI Corporation Berhad Essay IOI Corporation Berhad Essay In 1990, the founding chairman Dates Tan Seen Man decided to retire and his on Tan Sir Tan Change Mum replaced his position as the new chairman of the company. Soon after he took over his father position as chairman, he always wishes TAB to be listed in Bursa Malaysia as one of the public listed companies in Malaysia. In year 1 992, the company changes its name from Tan Bertha to Tan Holdings Bertha. At the same year, TAB has been successfully listed in Bursa Malaysia and the company obtains the funding from its initial public offering. When the company has been listed in auras Malaysia, Tan Sir Tan Change Mum decided to maximize the company wealth by venturing into Food industry equines in 1992. TAB also manage to set up a subsidiary company named Tan Food Industry Bertha to manage the holdings companys food industry business. Since then, TAB has begun to flow into international market when the company successfully acquires multiple food production plants in Malaysia and started to export the food products to Singapore, China, Japan, Korea, Indonesia, United States and United Kingdom. The company also obtains the ISO 9001 from the government of Malaysia. In 1 999, the company begins to venture itself in property investment and development industry. TAB successfully bough several piece of properties in Malaysia and also in other foreign countries such as China, Indonesia, Singapore and Thailand. In 2014, TAB was ranked 36th in the Forbes Malaysia among other 1 00 I. Product and Services: TAB has grown to become one of the leading conglomerate companies in Malaysia. In the food production industry Of the company, the company introduces variety of biscuits such as Choc Pie which is very famous in United States and South Korea to consumers in Malaysia. Furthermore, the company has manage to produce more than 50 types of biscuits and available for Malaysia consumer and exportation to other countries. Moreover, TAB also produce and extract high quality palm oil in the palm oil plantation at Kerning, Clangor. TAB also recognized as one of the contributor in the exportation of palm oil to other palm oil consumption countries especially to China In the property investment and development industry of the company, TAB successfully launch the Z-Residence (a 20 floors premium condominium) in Cybercafà ©. II. Future Prospect In the future, Tan Holdings Bertha will diversify the companys business portfolio by venturing into telecommunication industry. TAB will become one of the network and Internet service providers when the company successfully applied for a network service license which approved by Malaysia Communications and Multimedia Commission (MAC). The company will also plan to provide high-speed Internet service (using fiber optic cable) to residents in Malaysia. Moreover, TAB will also expand its property investment and development business in the future by property hotels, resorts and recreation development. Therefore, TAB is considered as one of the good companies with better prospect to sustain in the future. IV. Board of Directors and committees The Chairman of Tan Holdings Bertha (TAB) is Tan Sir Tan Change Mum since 1990. Prior to his position as chairman of TAB, he holds one of the top management positions in TAB. His father wants him to learn how he manages the company. In addition, the Chief Executive Officer (CEO) of TAB is Eng Kina Hat. He has a great leadership and previously he is one of the CEO another public listed company in Malaysia as well. With his leadership skills, TAB believe that he will bring a better future prospect of the company. Moreover, the current Chief Financial Officer (CUFF) is Mrs.. Limit Yen Vein. She was an CA professional certification graduate and has more than 20 years experience in accounting profession. Further, the company also appointed Mr.. Peter Limit as independent non-executive directors of TAB. Since then, Mr.. Peter Limit has been actively involved in companys corporate affairs and general management. 01 Corporation Bertha (101 Group) 101 Corporation Bertha (commonly known as 101), was incorporated on 31 SST of October 1969 as Industrial Oxygen Incorporated Sad Bed. The company first core business is industrial gas manufacturing. Subsequently, 101 successfully listed in Koala Lumpy Stock Exchange (KEELS) on 29 July 1980. Moreover, the company also ventured into resource based manufacturing businesses (refineries, Electrochemical and specialty oils and fats) when the company successfully a cquired Perusal Mesas Sad Bed. Since then, the company is recognized as the most efficient oil palm plantation company in the world. Besides that, 101 also venture into Electrochemical business when the company has acquired 32. 96% stake in Palmtop Holdings Bertha (renamed as 101 Electrochemical Industry Sad Bed) on March 1997. Since then, 01 Corporation Bertha has become a vegetable-based Electrochemical producer in Malaysia. In addition, the company also manages to acquire a controlling interest in Lam Soon Hat Development Bed (renamed as 101 Properties Bed) in January 1994 and it becomes One of the subsidiaries Of 101 Corporation Bertha. With this acquisition, the company has taken its first step into property investment and development industry. Besides that, the company also takes an important role in promoting Malaysia Tourism when the company decides to build and develop resort in Pituitary known as 101 Resort City. Subsequently, 01 Properties Bed has successfully listed on the Main Market of Bursa Malaysia as one of the largest property companies in January 2014. II. Product and services: Currently, 101 Corporation Bertha has successfully diversifies its business portfolio such as plantation and agriculture, property investment and development, chemical manufacturing and resorts. As a result, 101 is recognized as one of the biggest conglomerates in Malaysia. In the plantation and agriculture industry of 101 Corporation Bertha, the company operates 152,000 hectares of oil palm plantations in Malaysia and 83,000 hectares in Indonesia. The company also operates 12 palm oil mills with a total capacity of producing 4. 1 million tones per year. Malaysia and one located in Netherlands. These refineries convert crude palm oil into edible oils such as palm oil and palm kernel oil and market off to various food production companies. Thus, it contributes to Ohios biggest income generator among other business portfolio. Moreover, in the Electrochemical and specialty oils and fats industry (under resource-based manufacturing) of 101 Corporation Bertha, the company is known as one of the leading vegetable-based Electrochemical producers in the oral. In addition, the company also involves in manufacturing and selling of fatty acids, glycerin, soap noodles and fatty esters which is needed to produce detergents, shampoo, soap and cosmetics. As for the specialty oils and fats industry of the company, 101 Corporation Bertha manage to supply fractionated oils and fats required by food industry such as Milliner, Nestle, Catbird and Kraft. On the other hand, the property investment and development of 101 Corporation Bertha has also brought in a portion of income to the company. The company has managed to acquire several of lands. Besides that, the company has also launched 101 City Mall in 101 Resort City in Pituitary recently. Below is the list of properties that owned by 101 Corporation Bertha: Location: Property name: 1. Pouching sierra, Bandanna Putter Pouching and Bandanna Pouching Jay 2. Pituitary 101 Resort City 3. Slang Bandanna Putter Slang and Bandanna Putter Slang 4. Bang Bandanna putter Bang 5. Seepage Bandanna Putter Warns 6. Bah (Niger Assemblies) Bandanna 101 Bah 7. Kulak (Juror) Bandanna Patria Kulak and Bandanna Patria Casemate 8. Despair (Penman) Despair 9. Singapore South Beach development and Pinnacle at Santos Cove 01 Corporation Bertha has many future prospects that are planned in future especially in the companys property investment and development business portfolio. The company has plan many new property projects in Bandanna Putter Bang such as Cubical Square, Lamar Residence. Besides that, the company also plans to further develop Bandanna Putter Pouching with a few residential areas with projects named Putter Hills Luxury Town Villa and Putter Hills Condominiums where is located in Pouching. Moreover, 101 Corporation Bertha also has planned to buy a substantial stake of 37. 17% in Taipei Financial Center Corp. (TFTP). For your information, TFTP owns the most famous landmark of Taiwan, the Taipei 101 tower. Currently, the negotiation of acquisition of stake by 101 Corporation Bertha to T FCC is still on going. As for the plantation and agriculture of 101 Corporation Bertha, the company plans to replant at least aha to aha of estates in Malaysia and plant around aha of new palm oil Indonesia per annum for the next 3 years ahead. The company is also reportedly active in negotiation with international companies for potential joint ventures in the specialty oils and fats industry. The current executive chairman of 101 Corporation Bertha is Tan Sir Data Lee Shin Change. He is also the founder of 101 Group which listed on Bursa Malaysia on 29 July 1980. Furthermore, He was awarded the prestigious Malaysia palm Oil Association Recognition Award in 2011 for his great leadership which lead 101 Corporation Bertha became one of the leading plantation and property group in Malaysia. Moreover, the current Chief Executive Officer (CEO) of 101 Corporation Bertha is Data Lee Yew Chord. The Board of Directors of the company appointed him as CEO of the company on 8 January 2014. Furthermore, he holds a LB (Honors) from Kings College in London and Diploma in Finance and Accounting from London School of Economics. Prior to his position as CEO of 101 Corporation Bertha, he served in Malaysia Judiciary service as a Magistrate. In addition, Mr. Lee Yew Seen is a Non-lengthened Non-Executive Director of 101 Corporation Bertha. He is actively involved in corporate affairs and general management within 101 Corporation Bertha and its subsidiaries. Moreover, Tan Sir Peter Chin FAA GUI is a Chairman Of the Nominating and Remuneration Committee as well as member of the Audit and Risk Management Committee of the Company. He is best known as former secretary for the Ministry of Energy, Green Technology and Water, Ministry of Plantation Industries and Commodities, Ministry of Housing and Local Government, Ministry of Science, Technology and the Environment and Ministry of Welfare Services respectively. Dates R. Ukrainian and Mr.. Each Take Kiang serve as an Independent Non-Executive Director of 101 Corporation Bertha. Both of them were also involved in the Audit and Risk Management Committee as well as member of the Nominating and Remuneration Committee of the Company. Barbara Corporation Bertha (Bicorn) Barbara Corporation Bertha (commonly known as Bicorn) was founded by Tan Sir Data Series Vincent Tan Cheese Yin in 1984. In the same year, he successfully acquired a major controlling interest in Barbara Industrial Bertha (formerly known as Barbara Swat Bertha and now known as Reek Pacific Bertha). Moreover, Barbara Group Bertha (formerly known as Inter-Pacific Industrial Group Bertha) became a holding company of Reek Pacific Bertha after the company had major restructuring. For information, Inter-Pacific Industrial Group Bertha was incorporated in 1967 as bicycle manufacturer ND the company has successfully listed on Bursa Malaysia in 1969. In addition, Barbara Corporation Bertha acquire listing status on the Main Board of Bursa Malaysia when the company complete its group restructuring exercise in October 2005 and the issues Of new shares on 3rd January 2006. Besides that, the company has successfully diversified its business portfolio. Currently, the company has engaged in many industries such as direct selling and retail, property investment and development, gaming and lottery management, motor trading distribution and food beverage industry. Below is the list of Bicorn and its subsidiaries: industry: Us bestiaries: Year of incorporated: Controlling stake by Holdings Retail Barbara Retail Bertha 8th June 2010 100% Property investment and development (I) Barbara Land Bertha (ii) Barbara Asset Bertha (I) 1990 (ii) 1978 (I) 73. 33% (ii) 76. % Food and beverages Barbara Food Bertha 21 SST October 2009 58. 85% Gaming and lottery management Barbara Sports Toto Bertha 1969 51 . 76% Motor trading and distribution Barbara Auto Bertha 1st April 2008 36. 74% Media Barbara Media Bertha 4 March 2008 72. 09% Financial service Barbara Capital Bertha 1999 92. 4% . Product and services Barbara Corporation Bertha (Bicorn) is a successful conglomerate i n Malaysia. The company has many business portfolios such as direct selling and retail, property investment and development, gaming and lottery management, motor trading distribution and food beverage industry. In the direct selling and retail of Bicorn, the company has introduce a direct marketing or multi level marketing business named Cocoas in 1979. Cocoas is a retail chain which market more than 2000 consumer product specialized in health and nutritional supplements, personal care products, water filtration yeses, cosmetics and fragrances and etc. Besides that, Bicorn also bring in an organic specialty store known as Country Farm Organics (CUFF). The store provides many organic products with a reasonable price to its consumer in Malaysia. In addition, the property investment and development of Bicorn comprise of 2 subsidiaries known as Barbara Land Bertha and Barbara Asset Bertha. Bicorn own a lot of properties in Malaysia such as Barbara Times Square, Plaza Barbara, Barbara Magical, Wigwams Cocoas and etc. As property investment of the company. Furthermore, the company also owns some land for property velveteen purposes such as Meaner Bangkok Bank, Vagina 25, The Peak at Among, KIM Condominium and etc. Moreover, in the food and beverages business portfolio of the company, Bicorn has introduced Struck Coffee, Kenny Rogers Roaster Restaurant, Crispy Creme Donuts, Papa John Pizza restaurant and Wendy fast food restaurant and etc. Furthermore, Sports Toto is the product offered by Bicorn in its gaming and lottery management business. Today, Sports Toto is the largest number forecast operator in Malaysia in terms of number of outlets as well as product offerings. In the motor trading and distribution industry, Bicorn is the official distributor of Mazda vehicle (Bertram Motor Sad Bed), Soda automobiles (Danni Pretests Auto Sad Bed), Change automobiles (Change Barbara Auto Sad Bed), Mercedes Benz automobiles (NASA Automobile Corporation Sad Bed) and Gaston Martin automobiles (Gaston Martin Lagoons (SEA) Pet Ltd). In the Media business portfolio of Bicorn, the company has issue free newspaper known as The Sun to the public. The company plays an important role to promote and improve our countrys English standards and reading culture of Malaysia.

buy custom Introduction to Humanities essay

buy custom Introduction to Humanities essay Modernity typically refers to a broad, frequently debated term that describes the past of western civilization during the classical modernity phase that dates back to the nineteenth century. This modernity phase features include urbanization, computerization, departure from traditional life and religious beliefs and embracing scientific rationalism and liberalism, formal procedures of work distribution, resulting in high quality production, low cost of living. Modernity was signified by embracing computerization, professionalism in work places, quality control, improved medical services, high quality education and improved infrastructure. Situation Analysis There are positive effecs of modernity, as reflected in the works of artists and thinkers of the industrial age. It has led to the emergence of what is commonly known as the first world countries. Modernity increased life expectancy, brought higher standards of living. This modernity phase marked increase in the quality of public education and affordable medical services. Work distribution and specialization have improved the quality of production and resulted in professionalism in the work area. During this modernity phase market economies have become much more impressive due to centrally planned economies, with technological advancement and agricultural peasantry. As much as modernity is considered to have positive effects, there are critiques that encourage loss of traditional values and relationships. In addition to this, there is a high cost associated with the whole thing about modernity to cater for urbanization, quality education costs and infrastructure costs. This, in retur n, causes high cost in accessing the modern objects, thus, resulting in formation of a gap between people who can afford modern conveniences and those, who can not. Production of modern things leads to health and environmental concerns about the problem of by-products disposing . This means modern objects are available to people but they may have an ill effect. Conclusion Modernity has improved peoples standard of living and life expectancy. Among the negative aspects of modernity are the tendency of loosing the traditional values and growing health and environmental concerns Buy custom Introduction to Humanities essay

Theories of Motivation Essay Example | Topics and Well Written Essays - 250 words - 1

Theories of Motivation - Essay Example Locke goal setting theory involves dealing with specific, measurable, realistic and time bound objectives. The goal setting theory works on the principle that, for efficient performance, the individuals in the group must have a common goal to reach, and are explicitly stated. Goals are clear motivation that set standards for personal satisfaction. To achieve the goal, one must be able to set success and meet work challenges that are measurable. Equity theory explains the relation satisfaction in terms of perception of fairness distribution of resources. The concept of Locke can be incorporated into vroom’s theory this way; the Locke theory rotates on the principle of goal setting and working towards achieving the goal. It can be related to expectancy theory in that the employee must have some particular behaviour in the company to achieve the uttermost results that lead to a reward. It explains the motivation of the employee in achieving goals as a form of motivation. In relating Adams theory to expectancy theory; Adams theory explains the satisfaction of an employee, in which an employee will work or behave in certain ways to earn the equal treatment with other colleagues. The fairness leads to voluntary hard work that yield best

Unified Tobacco - Business and Ethics Essay Example | Topics and Well Written Essays - 500 words

Unified Tobacco - Business and Ethics - Essay Example His decisions are based on his definition of right and good. And in Socialism, the ethics of virtue is expressed through the concept that the fulfilment of a human is in helping others (â€Å"Ethics† 2006). As such, both Ethicists’ most probable way to handle this conflict is to find ways to communicate to the protest groups the positive side of the tobacco business, despite its evident disadvantages to the community, but under different premises. Unified Tobacco sells a product that is known to be harmful to everyone’s health. The hazard of smoking is plain and simple: it causes ailments that potentially lead to death, not just to the users themselves but also to those who are considered passive smokers. The issues of the protesters are actually valid. However, to address these concerns, the government has already established various resolutions to regulate the use of cigarettes, particularly in public places. Furthermore, the government and other concerned groups are involved in various massive campaigns to promote information regarding the disadvantages of using this product. Man always has a choice of whether or not to patronize cigarette smoking. Even the manufacturers themselves warn the public of the dangers of smoking through their tagline â€Å"cigarette smoking is dangerous to one’s health†. However, on the other side, the tobacco industry helps bring jobs to the community. It employs hundreds of people and gives them a livelihood. Further, it greatly contributes to the community’s economy. The industry supports the development of the community through its tax returns and through company-initiated activities that aim at promoting social welfare and cater to community needs. In the end, the tobacco industry largely contributes to the community’s economy despite the nature of its product. As it makes one a good person to be of assistance to the community in general and to participate in the pursuit of common good, a Virtue Ethicist’s action plan is to facilitate the increase of the company’s drive to promote awareness on the use of cigarette smoking.

Stem cell success Term Paper Example | Topics and Well Written Essays - 1750 words

Stem cell success - Term Paper Example This enthusiasm still is not shared by those of the religious right. This faction is opposed to embryonic stem cell research which they claim as immoral and characterize as devaluing human life, much the same as does abortion, drawing a link between the two. This discussion will provide a brief overview of stem cell research and its benefits to society, the debate surrounding the issue and the arguments for continued research. Stem cells are basically the building block cells of a human being which are capable of becoming 210 different types of tissue. Adult stem cells are found in minute numbers within most tissues, but the majority of stem cells can be obtained from the umbilical cord. There are numerous potential sources for stem cells. Embryonic stem cells originate from the inner cell of an early stage embryo. Embryonic germ cells can be collected from fetal tissue at a later stage of development. Adult stem cells can be obtained from mature tissues. â€Å"Even after complete m aturation of an organism, cells need to be replaced. A good example (of adult stem cells) is blood, but this is true for muscle and other connective tissue as well, and may be true for at least some nervous system cells† (Chapman et al, 1999). ... It has been substantiated from animal research that stem cells can be differentiated into cells that will behave appropriately in their transplanted location. For example, the transplantation of stem cells following treatments for cancer has found much success for many years. â€Å"Experiments such as the transplantation of fetal tissue into the brains of Parkinson’s patients indicate that the expectation that stem cell therapies could provide robust treatments for many human diseases is a reasonable one. It is only through controlled scientific research that the true promise will be understood† (Frankel, 1999). The moral dilemma that surrounds the prohibition of aborted fetuses is the idea of abortion itself. The former Bush administration was very conservative leaning and made it very clear that it was opposed to legal abortions, in at least most circumstances, and transferred that ideology to its prohibition of embryonic stem cell research. The concept of scientific study of the next stage of development, the fetus, which resulted from an abortion, is unthinkable. This ideology of that administration reflected the minority opinion which opposes abortion and also reflects the majority opinion that is opposed to aborted fetuses of consenting parents being used for experimentation. This reality has no basis in reason. Why would those who claim to be ‘pro-choice’ want to waste the aborted tissue? For that matter, why would pro-lifers want to witness what they believe is a living being tossed away in vain? At least its ‘life’ could have meant something to humanity in a very real way. Though president Obama reversed the Bush-era restrictions on this scientific research, conservatives continue to fight this battle in court. Last

High School Drop out Rate Essay Example for Free

High School Drop out Rate Essay Analysts agree that the rate of high school dropout in the United States has reached catastrophic levels. Credible estimates claim that more than a third of all students that join high school are likely to abandon school before completion. A look at the past decades indicates that this has been a growing trend and is yet to be arrested appropriately. This is a problem that has not been captured in the public glare due to scarcity if data. This paper will provide the available statistics on the rate of high school dropouts; provide an analysis of the possible causes and remedies. Different publications contain valid rates of dropouts; this is because of the existing differences in the definition of a dropout. There are those that graduate after completing the high school syllabus, others that graduate after completing an equivalency test of the same and those that graduate after passing other states based tests. The National Center for Education Statistics (NCES) compiles its data using either the event rates, status rates or the cohert rates. Events rates refer to the number of students that drop out of school annually while the status rate takes into account the total number of students that have cumulatively dropped out of school as a proportion of the total population. (National Institute on the Education of At Risks Students, 2006) Indicative reports have it that the rate of school dropout from the 1970s to the 1990s recorded a steady decline; however the rates have stabilized from the 90s to date recording an insignificant improvement. A look at the 1999 and the 2000 reports indicate that 5% of all students that had joined high school in the respective years dropped out within a year. This is in according to the available education department’s event dropout rates. The status dropout rates for 2000 indicate that â€Å"some 3. 8 million young adults were not enrolled in a high school program and had not completed high school. † (National Center for Education Statistics). Other available statistics on the dropout rates focus on the differences between gender and the racial groups. They have indicated that 5. 8% of male students are more likely to dropout compared to whose dropout rate is 4. 3%. The gender disparities in the dropout rate are witnessed across all the ethnic and racial groups with male students being the most affected. The dropout rate for the minority groups has remained higher than that of white Americans. The Latinos lead the group of the minorities with a rate of 27. 5%; African Americans have 13. 6% while the whites have a dropout rate of 7. 9%. This is according to the 1993 survey although these rates have remained fairly constant since then. (National Institute on the Education of At Risk Students, 1996) Having looked at the existing statistics, it is important to look at the reasons behind these statistics. There exists immense research on the causes of high school dropouts but it is important to point out that they focus on a variety of issues depending on the discipline. The ethnographic studies for example may focus on the issues of minorities and the social causes of their dropout. Attempts therefore to establish the specific factors are impeded by the existence of â€Å"a large variety of factors that predict or influence dropout behaviors, ranging from family background to school characteristics. † (Richard, 2002, 120) Scholars however have observed that students drop out of schools either after being ‘pushed out’ by the school environment or after being ‘pulled away’ by factors beyond the school curriculum. (Jay W. , 1999). A survey conducted on the various reasons behind the high school drop out rates revolve around vague reasons such boring classes and hard exams. These though are the pointer towards the major factors that contribute towards high school dropout rates. The causes range from academic challenges, economic, social and personal reasons One of the major ‘push out’ cause of dropout of high school can be traced to the various schools’ requirements to undertake an exit exam as the precondition for graduation. A look at the United States reveals that most states have put forth a requirement for a standardized test to mark the graduation of students from high school. Exit exams were adopted to enable states to standardize their tests and upgrade their diplomas. Where the merits of these exams have been widely noted, criticism has been leveled against them alleging that they exert too much pressure on the high school students. The basic purpose of exit exams is to ensure that the quality of the diploma is maintained, today however it is being seen as pushing students out of school, â€Å"these critics rely upon the push-out-myth- the idea that requiring students to pass exit exams forces students to drop out of high school. † (Jay P. , 2006, 127). The conclusion that stringent exam requirement may push students out of school has been reached after examining performance records and transcripts belonging to those that have dropped out. Studies have pointed out a streak of dismal performance by most of them indicating a sense of hopelessness on the drop outs. Some students have blamed the dismal performance on the lack of motivation by their teachers. Another possible cause of school dropout is peer influence. Peers are an important component to the development of an individual and also as socialization agents. It has been established that the influence of the family to the life of adolescents is fast waning and its place taken over by peers. The issue of how peers influence school drop out rate is broad and has been found to be an important factor. School dropouts have claimed to have been influenced by their peers to quit schools especially for those that had non schooling friends. This is so as peer influence has been found to either be a source of motivation or discouragement. This has been problematic as most of these have plunged into the crime world led by their peers. Working students also find it hard to cope with both tasks and most have even been found to give up education in the belief that they will resume later. Unsupportive parents have also been known to lead their children out of schools due to lack of moral support. Just like there is no single cause behind the high rates of school dropouts, there is no single remedy for the problem. It requires a multifaceted approach that incorporates both students and the teachers. It has been found that most students drop out of schools to escape the taxing nature of academics and exams. While it is not prudent to change the existing exams, it would be appropriate to put measures to ensure that the tests would not be an excuse to drive students out of school. As Marvin (2003, 215) has pointed out, â€Å"states should look for more ways to identify students at risk and consider instituting or adapting existing programs to support students before they drop out. † The best approach hence would be to incorporate a support program to help students cope with the rising challenges. This should include providing extra school tutoring and retake programs for students that perform dismally in the first attempts. This should also include introducing changes to the academic programs to ensure that they are more responsive and relevant to the student lives. The government also should roll out programs that aim towards sensitizing students on the need to stay in school. A number of factors that contribute to high rates of school dropout are social-psychological meaning that they can be eradicated through creation of awareness and general counseling. It is also important to involve students in the process of policy making to ensure that their expectations and views are incorporated and hence make them feel that they have a bigger stake in the school programs. Indeed there much has to be done to reduce the number of students that fail to complete their high school. The dropout rates indicated above are worrisome. More also needs to be done to bridge the dropout disparities across the racial groups. Students should be sensitized on the dangers of dropping out of schools especially as they are exposing themselves to the risks of unemployment as well as crime.