The end of a week Essay Example for Free

The finish of seven days Essay Fundamentally, weekend, as the term proposes, is the finish of seven days. All the more intricately, it is recommend that specific period between the end of one working or school week and the start of the prospective week. To be progressively explicit, end of the week for me, is that two back to back days that extends from Friday night to Sunday evening where you can go out on a long excursion or continue shopping or simply bum around on the grounds that there is neither work nor school. Before perusing the exposition â€Å"Weekend†, it wasn’t my thought that the word and the day assigned as end of the week developed since I thought it was an all inclusive, time-old assignment to end a week and a fixed day on any year or age. After perusing the paper, I was astounded in transit the creator accepts an end of the week ought to resemble. Additionally, the paper made me wonder who assigns the days to be considered as end of the week and how making your own end of the week happened. Writer Witold Rybczynski in the exposition â€Å"Weekend† concentrated more on the starting point of the cutting edge end of the week. His principle thought on the article is about the improvement of relaxation in our lives and taking the downtime from work or school. In conveying his central matter in the paper, Ryzbczynski talked about quickly the advancement of the word end of the week and builds up his idea of having real downtime from work by bringing up how our current end of the week is assigned or booked by individuals themselves or even by the state through declaration of occasions that makes long ends of the week. The formation of do-it without anyone else's help occasion, which means planning your own vacation for an excursion or for a family or other recreational exercises, to his brain removes the genuine thought or the conventional importance of ends of the week which is established more on relaxation and sitting idle, random and being simply inactive. To refer to a case of the author’s primary thought of the advancement of the end of the week, Rybczynski first show how the word end of the week changed throughout the years. From the start, it was a two word associated by a hyphen, at that point it loses the hyphen and gradually turns into a kind of illustration in welcome individuals to wish the other of a pleasant rest days. Another model given by the creator demonstrating changes what exactly is presently known as the end of the week is his conversation on how Sunday, which is then the start of seven days, turned into the most recent day thereof so as to suit our work and different exercises. In conclusion, he additionally makes reference to how individuals these days assign or make their own end of the week living the customary assigned end of the week behind. In assigning and making their own end of the week, the creator accepts that the end of the week has lost its importance making equivalent to simply like a standard work day that has a similar congruity of it was nothing really. In this age where individuals are driven by their advantage and needs simultaneously, I accept that the entire thought of the creator does not make a difference anymore. The article, to my psyche no longer have pertinence as individuals of today’s age secure positions that are satisfying and some way or another gives relaxation while accomplishing their work. The current set-up no longer delineates a circumstance where individuals hustle are accomplishing work only for cash yet rather at present occasions, individuals work since they are driven by their inclinations, side interests and even convictions in this manner making one’s work not, at this point troublesome and along these lines, individuals not, at this point hurry to their homes for the end of the week just to rests and be inert. Lingering, in its strict sense, I accept is not, at this point conceivable because of the fact that advanced innovation like PCs, online worlds, game consoles and so forth will regularly discovers its way in our timetable during ends of the week. As to the author’s thought of assigning or making your own long end of the week, I accept that there is actually nothing amiss with that. Individuals have safe places and if a specific day is the most agreeable day for him to unwind and think about his end of the week, at that point let it be. Concentrating more on the possibility of unwinding, however not really by sitting, than the day of end of the week is far superior to suit the flavor of today’s world. Reference Rybczynski, Witold. Sitting tight for the Weekend (1991), pp. 321.

FDI Essay Example | Topics and Well Written Essays - 750 words

FDI - Essay Example ssets in a local facility.2 In a remote direct venture situation there are typically two gatherings that are included; the outside member and the parent business endeavor when the two are joined they structure the worldwide organization. For example, if a United Kingdom organization chooses to make a takeover of the dominant part stake in a South African and hence expect its tasks then that is a run of the mill case of a remote direct venture. The South African firm is the parent business organization while the UK Company is the global business member for that specific speculation. In any case, that isn't the main structure that remote direct venture must be led it can take differed structure contingent upon the premiums of the gatherings worried, just as nature of that specific investment.3 There are two essential sorts of remote direct venture to be specific; internal outside direct speculation and outward outside direct venture. Internal outside direct speculation happens when there is a venture of remote capital in the neighborhood assets. For example, a Canadian firm assumes control over a critical stake in United Kingdom mining organization and along these lines accept its tasks. Nations are putting forth attempts to pull in internal remote direct speculation since they invigorate monetary development too they infuse new capital into the economy consequently making it more robust.4 Various nations execute diverse outside direct venture systems relying upon their need to draw in remote interests in their economy. A portion of the regular factors that decide development of internal outside direct speculation incorporate; tax reductions from the legislature in that feeling that remote firms are permitted charge unwinding to a limited degree to empower all the more internal venture for outside based association. Low-loan fees are one more aggregate activity that legislatures execute to encourage the take-up of internal outside speculation from abroad organizations so as to invigorate the nearby

Communication barriers Essay

One of the most testing issues, any administrator will confront, is correspondence hindrances. Procedure, individual, physical, and semantic boundaries is the thing that I will concentrate on all through this exposition. For me, as a supervisor, the blend of absence of formal childhood and non-customary tutoring add to my correspondence imperfections. The procedure by which an individual deciphers a message being conveyed is known as the procedure of correspondence. At the point when a mistake happens while two individuals are imparting this is known as a procedure obstruction. This kind of mistake can happen while utilizing any type of correspondence including up close and personal, or media and can happen for some reasons. I, as an administrator, battle with encoding the messages I am attempting to send. Because of my absence of formal childhood and non-customary tutoring I make some hard memories with jargon and right word utilization. While composing papers or messages I can util ize the inherent survey devices to help me, for example, spell check or syntax right. I utilize a program like Word to check my sentence structure and spelling whenever the situation allows. While talking up close and personal with individuals I utilize straightforward jargon and pose definite inquiries to all the more likely comprehend them when required. Individual hindrances is characterized as any individual property that obstructs correspondence. This specific territory of correspondence is one that I have battled with as long as I can remember. I tend to talk exceptionally quick and not listen so well. I have prepared myself to recall that listening is one of the most significant strides in speaking with individuals. I have gone to powerful correspondence courses to assist me with understanding the significance of tuning in. My principle wellspring of correspondence is eye to eye and not through media. When imparting through email or content I will in general lose a great deal of what I am attempting to state. I additionally center around utilizing helpful analysis. I have gained from individual experience that it is simpler to express what is on your mind when the sender is available to hearing it. Factors, for example, awful sign, diverse time zone, and noisy commotion are known as physical hindrances. Physical hindrances is another gigantic motivation behind why I lean toward eye to eye gatherings and discussions over media communications. During a discussion the communicator can misperceive the receiver’s interruption by boisterous commotion and think they are not tuning in or being discourteous. This can prompt an exceptionally disappointed communicator. While having significant discussions with clients, representatives, or different bosses Iâ always practice undivided attention. All together for undivided attention to be viable I require the gatherings to be in an assigned very open region that is sans interruption. I ensure we have satisfactory subsidizing for the best innovation accessible to stay away from any media physical hindrances. We have the best modems, and switches accessible to a private company. This diminishes the chance of sign interference during o ur virtual internet meeting with the proprietor during our month to month meeting. The manner in which an individual deciphers regularly utilized words can make a semantic obstruction. A case of semantic boundary is a circumstance I for one experienced. I will always remember my first experience, I was a fresh recruit for an organization inside an industry I thought nothing about. I had 8 years the executives involvement with a help industry, however the design business was unfamiliar to me. My new manager said to me, â€Å"We need to complete those mannequins tomorrow before we leave.† The following day came and I accepted we would do them together, however incredibly my supervisor never referenced them. After three days I was by and large officially reviewed for not finishing a doled out assignment, otherwise called defiance. I was stunned and exceptionally disappointed. Because of this circumstance, when talking with representatives, I generally give clear, characterized directions and check for comprehension before leaving a worker to play out an underta king. During everyday activities I have created Jargon for our office. Beforehand all the specialists were alluded to as specialist and all the patients were known as patients. This turned out to be confounding when attempting to talk about explicit specialists or explicit kinds of patients. For instance persistent in room 5 prepared for doc would be reported. Presently each kind of patient, lobby, and specialist have a particular call. A similar articulation as above on the new framework would be NP, blue lobby, doc 5. It is quite certain and rules out wrong translation. The new act of Jargon in the workplace decreased our semantic obstructions significantly. I am as of now a chief for a few specialists inside one office here in Amarillo, Tx. I have created techniques for my workers to follow while mentioning a gathering with myself or different managers so we don't have any physical boundaries. During the gathering I use instruments, for example, undivided attention, decisive correspondence, and useful analysis to guarantee that there are negligible procedure or individual obstructions. I urge all workers to pose inquiries on the off chance that they are not satisfactory on what is anticipated from them. I have additionally built up a preparation program for our office Jargon that requires allâ employees to go to gatherings once per month to guarantee their comprehension of office phrasing.

What difference does it make that production is capitalist production Essay

Why does it matter that creation is entrepreneur creation - Essay Example The expression Entrepreneur was first utilized in 1848 by Karl Marx and Frederick Engels in the Communist Manifesto in the renowned sentence: Current Industry has changed over the little workshop of the man centric ace into the incredible production line of the modern capitalist1. As indicated by the Houghton Mifflin Company, free enterprise can be characterized as follow: A financial framework wherein the methods for creation and dispersion are secretly or corporately claimed and advancement is proportionate to the amassing and reinvestment of benefits picked up in a free market.2 The industrialist creation is where the proprietors of cash capital - alluded as business people - enlist work to work in the creation procedure. The entrepreneurs assemble inside a partnership where they own offers. The choice procedure can be made by just one of them - regularly the one that possesses the biggest measure of offers - or they can choose a chief who will take the choices with respect to the creation for them. The yield created just as the fixed and circling capital merchandise utilized in the creation and the remaining of the estimation of yield over complete costs, including work costs have a place with the entrepreneurs. As the entrepreneur procedure depends on the measure of capital, if the business people need extra capital - more than what they own - they can get from loan specialists and hold a piece of the benefit from earlier years to utilize it as capital this year. Helpful Production Despite the fact that Karl Marx was truly the principal rival to private enterprise, he's the one in the Capital3 who gave the best clarification of its components. He additionally gave an option in contrast to the capital based method of creation: cooperatives. He didn't really introduce this option as we probably am aware it today yet gave the fundamental grouds of its creation. It is the reason for the most part cooperatives are related with communist and socialist systems. It is Robert Owen, a Welshman, who is the known maker of the helpful development in the nineteenth century. The most widely recognized meaning of a helpful is an association which is possessed by and worked to help those utilizing its services.4 at the end of the day a gathering of laborers accumulate so as to set up a creation procedure. Every one of them takes an interest in the creation procedure, has offers and casting a ballot rights. In a helpful, laborers settle on basic choices or pick a chief to take the choices in regards to the creation procedure. As in the entrepreneur creation, the individuals from a helpful can acquire cash from moneylenders in the event that they can not give an adequate measure of cash-flow to the creation procedure or hold a piece of the total compensation from earlier years to utilize it as capital this year. The fundamental contrast between entrepreneur creation and an agreeable one is that the proprietors of the helpful partake in the creation procedure. They are not isolated from the action which is the situation in the industrialist model. What's more, primarily, they profit by the whole creation. They are paid for their work as well as

Riot Asks Joshua Henkin

Riot Asks Joshua Henkin Joshua Henkin is the author of the novels  Swimming Across the Hudson  (a  Los Angeles Times  Notable Book) and  Matrimony  (a  New York Times  Notable Book). His stories have been published widely, cited for distinction in  Best American Short Stories, and broadcast on NPR’s Selected Shorts. He directs the MFA Program in Fiction Writing at Brooklyn College. His latest novel, The World Without You (Knopf/Pantheon) has received much critical acclaim.   ____________________________ Book Riot: What are you reading now? Joshua Henkin: So I’m reading a lot of things at the same time, including American Rust by Philip Meyer, Goodnight Nebraska  by Tom McNeal, and Maile Meloy’s Both Ways Is the Only Way I Like It, and the manuscript of a novel from one of my students. I’m always a few weeks behind on The New Yorker; I knew this guy in Ann Arbor who used to read the New York Times from cover to cover every day, and he was years behind, so I’m a little bit like that. There was a Donald Antrim story from a few weeks ago that was very good, and it reminded me of reading an essay of his about finding a mattress with his girlfriend. Oh, I’m also reading the first of Edward St. Aubyn’s Patrick Melrose series, Never Mind. I don’t always finish things I try. I used to, on principal, but now if I’m halfway through a book and it’s not doing it for me, I stop. However, everything I’m reading so far seems really strong. BR: Which book do you wish you had written? JH: I feel like every book I love, I wish I’d written. Madame Bovary, The Great Gatsby, any of Alice Munro’s short stories as well as John Cheever’s journalsas long as I would not have had to live his life! Dubliners. Augie March, Revolutionary Road. I think David Foster Wallace’s essays are tremendousthe one on English grammar and usage in particular. BR: Which book do you recommend over and over again? JH: I like to recommend books that haven’t gotten the attention they deserve, like Tom McNeal’s book To Be Sung Underwater that has a strange, slightly implausible premise. There was a collection of stories from about 25 years ago titled Sweet Talk by Stephanie Vaughan that has recently been reissued with an introduction by Tobias Wolff, which makes me really psyched. Oh, and The Privileges by Jonathan Dee. I think certain books are better for being imperfect, toothose that take risks and do things that surprise you and don’t entirely work but nonetheless make you experience things you wouldn’t otherwise, so even though the Dee may not be flawless, he knows how to write characters, and I’m a character guy. In that novel, character just jumps off of the page at you. I also often recommend early Jane Smiley novellas, like The Age of Grief, which is devastatingly good in a quiet, heartbreaking way. She’s one of those writers whose books feel dissimilar. BR: Has a book every disappointed you? JH: Most books disappoint me, in the sense that I think it’s really hard to write a good novel. In grad school, Richard Ford and Richard Russo both emphasized that “even writing a bad novel is a major accomplishment.” But you know, if its hard to write a bad novel, its even harder to write a good novel! Most books disappoint, but I keep on reading because it’s worth it for the novels that are great. Even if a novel disappoints, that feeling, for me, is tempered by a kind of humility.  I happen to teach grad students; I’ve gotta say, some of them are writing work that blows me away and is better than most published work. BR: Which book changed your life? JH: I remember my childhood pretty clearly but I don’t feel there was a bookperhaps E.B. Whites The Trumpet of the Swan?that changed my life or rocked my world. However, all of the books I read then had a big impact on me as a writer. All the books you read affect you in ways that you often cant fully figure out. I remember when Ethan Canins The Emperor of the Air came out and I read one of the stories in it, The Year of Getting to Know Us and thought: Oh! Id like to do that, too. My first writing instructor was Leonard Michaels, and the way he writes about sex and violence was very powerful for me. It took me 10 years to write Matrimony. I re-read Empire Falls by Richard Russo, and there was something about the way he dealt with time in that book that helped me find a way to structure Matrimony so that it opened up and worked. This Boys Life by Tobias Wolff was life changing in terms of my model book as a writer. It is so deeply unwritten you are  unaware of the author. Thats’s how I like to write. Its not the only way, but it takes a lot of effort to make something seem effortlessyou have to be so on top of things in order to disappear! BR: Whats your reading process while you’re writing? JH: Its basically the samethat is, I’m writing all the time. To me, I want to read as widely and deeply as possible. I never understand this anxiety of influence stuffI feel the opposite! I just dont buy not being influenced. You  should be influenced, and be influenced by the good writing. When I was in grad school, there was a lass on imitation. People are so concerned about originality, but if youre good and you have a voice, that will show. There are really only a couple of stories: A stranger comes to town, or someone goes on a trip. The more you read, the more you can riff on those plots. If youre not a reader, youre not a writer. Sign up to Unusual Suspects to receive news and recommendations for mystery/thriller readers.

Top Tips to Help Improve Your SAT Score

When you’re prepping for the SAT, the last thing you want to do is waste time. And there are a lot of time wasters out there: from bad materials to tutors only familiar with the old test (it changed in 2016, people!), it seems like there are more potential landmines cropping up every day. But don’t lose hope! Doing some research before you start actually studying will pay big dividends in terms of your score down the line. In particular, you’ll want to establish three things before you start: what and who you’re working with—and how you’re working with them. 1. What You’re Working With There are a lot of great, official materials out there; by all means, you should start with them. These include eight practice tests at the College Board website and a variety of practice problems (and many more resources) at Khan Academy, which partnered with the College Board to create solid, accessible materials. And this is all fantastic. However, it’s also overwhelming. Can you learn the exact content that you’ll see on test day by taking SAT practice tests? Sure—but you’ll have to take a lot of them, and you’ll have to spend a huge amount of time breaking them down. Make it easy on yourself and get a solid SAT study guide that you can work with, right from the start. No matter what Amazon tells you, you do not need to spend $100 on the fanciest guide money can buy; Magoosh has a free eBook guide that tells you everything you need to know. 2. Who You’re Working With Getting a tutor (online or in-person) or taking a class (again, online or in-person) can help a lot of students compress a lot of SAT study time into, well, less SAT study time. Having a good coach can help you see what you’re missing when problems give you trouble or you score lower than you’d like on a practice test. Before hiring someone, make sure to get recommendations from other students and find out as much about the tutor or school’s track record as you can. Remember, too, that just because someone scored high on the SAT themselves, they may not necessarily be a good tutor (although it should be a prerequisite!) Finally, be sure you actually need a tutor—it may turn out that all you need to succeed is an SAT one month study plan. It all depends on your internal motivation. 3. How You’re Working This takes us back to all those great materials we were talking about earlier. If your plan is just to take practice test after practice test, you’ll find yourself hitting a wall pretty quickly. Imagine if your plan for your driving test was just to keep going back and taking the exam until you passed, without practicing in-between. Is it possible to pass that way? Sure. Is it efficient? Uh-uh. The best way to approach SAT study is to take a diagnostic exam to get a sense of where you are right now. And yes, you should take an SAT practice test each week to make sure your prep is working for you. In the meantime, though, what should you do? Read a study guide. Take lessons—video lessons, classes, in a book—up to you. And always, always spend at least as much time analyzing your practice tests as you do taking them—you’ll be amazed at the patterns you start to spot. By setting yourself up for success from the beginning of your SAT prep, you’ll give yourself the best shot to get your dream score on test day. Good luck! Rachel Kapelke-Dale is a High School and Graduate Exams blogger at Magoosh. She has a Bachelor of Arts from Brown University, an MA from the Università © de Paris VII, and a PhD from University College London. She has taught test preparation and consulted on admissions practices for over eight years. Currently, Rachel divides her time between the US and London. Related Resources: †¢ The Quick Guide to Admissions Resumes †¢ Affordable Online Test Prep, a podcast episode †¢ The SAT Essay: A Breakdown

Essay on Stakeholder Analyses for Us Drinking Age - 986 Words

Peter White Talisha Haltiwanger CO150 17 April 2013 Stakeholder Analyses As most people living in the United States already know, the national minimum age for purchasing alcohol is twenty-one. However, prior to the National Minimum Drinking Age Act of 1984, some states lowered the drinking age below 21 (mainly as a result of the lowered voting age). The Drinking Age Act was put into place as a result of a correlation between young drinking and motor vehicle fatalities. Under the provisions of the Act, any states with a minimum drinking age below 21 are subject to a 10% cut in highway funding from the federal government. The United States is one of only a few countries with a drinking age as high as 21; the majority of countries†¦show more content†¦Converse to the ideals of 18 to 20 year olds, the federal government favors the current drinking age and deters states from lowering them. Between 1970 and 1982, 36 states lowered their individual drinking ages to 18, 19 or 20 (Searles). A major problem that occurred during those t imes was the â€Å"blood boarder† incidents. Teenagers living adjacent to states with lower drinking ages would cross the boarder to buy alcohol, then drive back under the influence. In order to prevent the increase in accidents and fatalities linked to these occurrences, the federal government (with significant lobbying from Mothers Against Drunk Driving) passed the National Minimum Drinking Age Act of 1984. To ensure that all states complied with it, the federal government would cut 10% of highway funding to any state with a drinking age lower than 21 (Searles). The stakeholder group that will gain most of the benefit from lowering the drinking age to 18 is the alcohol companies. In a sense, the stakeholders between ages 18 and 20 and alcohol companies go hand in hand. Because these young adults are, for the most part, eager to purchase alcohol, the potential skyrocket in sales for that age group would ensure massive profits for alcohol companies. This is made clear conside ring that underage drinkers in the United States consumed â€Å"an estimated 19.7% of the total alcohol consumed†Show MoreRelatedStrategic Management and Heineken3105 Words   |  13 Pageswhich are used to overcome or take advantage of these situations. An internal analysis of their company resources, organisational structure and culture will also be assessed to determine their competitive advantage over competitors along with a stakeholder analysis. Strategies in which the company use to gain a strategic competitive advantage over its competitors will also be included in the report, including the different levels of strategy implementation, from a functional to business to corporateRead MoreThe Factors Affecting Community Participation Essay1445 Words   |  6 Pagesstudy were community elder, children and women, CDVs (community development volunteers), members of CBOs (community based organization), CCBs (citizen community board), Elders of Committees, member of NGOs, go vernmental organizations and other stakeholders. Interviews were taken from 200 respondents with the ratio of 50:50 males and females from the beneficiaries and 20 interviews from the member of different organizations including local, international and government who are the services providerRead MoreBackground: While smoking and alcohol consumption, as hypothesized risk factors of colorectal3000 Words   |  12 Pagesrelationship exists between smoking and CRC in the Tianjin population and 2) if a casual exists between alcohol drinking and CRC in the Tianjin population. We hypothesize that smoking and alcohol drinking exposures are partially influenced by the genotypes of interest. Thus, if smoking and alcohol drinking are causative for increased CRC risk, the alleles that predispose to heavier smoking and drinking would be associated with increased risk of CRC. Methods: We will use both the existing epidemiologicalRead MoreThe Importance Of Strategic Quality Management And Economic Development3205 Words   |  13 Pageseconomy, only during last decades, Pakistani government changed by 4-five times, which is waste of countries resources and public funds. Pakistan have a biggest irrigation canal system of the world but its population haven’t easy access of clean drinking water, Mangla water Dam, Rawal and Tarbela Dam have biggest lakes, which have 100 thousands millions tons water but there are several elements that agricultural areas have not sufficient water for harvesting crops and rural and urban population usesRead MoreStarbucks Case Analysis7863 Words   |  32 PagesCONTENTS Introduction page 1 PESTEL analysis page 1 Five forces analysis page 4 Competitor analysis page 6 Resource Audit page 6 Value system analysis page 7 Core competences page 8 Stakeholders page 8 SWOT analysis page 8 Future strategic options page 9 Recommended option page 12 Critical review page 12 References Bibliography page 13 Introduction: This is a strategic report on Starbucks. First of all I will explain the external environment of Starbucks using PESTELRead MoreThe Case Of Amsterdam Brewery4254 Words   |  18 PagesMoreover, the brewing time was also connected to the beer’s retail selling price because some beers required more complex processes that resulted in higher costs and higher selling prices. This had an adverse affect on the Amsterdam Brewery and other stakeholders too because it had failed to translate into increased sales of the product offsite. The owner got confused to make decision that whether he should continue to focus on building the original products or should keep releasing and promoting new productsRead MoreEssay about Alcoholism and Drug Addiction17765 Words   |  72 Pageshowever, be noted though alcoholism and drug addiction are victimless crime, they do carry with them secondary victims such as family, dependents, friends etc. Alcoholism and Drug Addiction or habituation has been prevelant in most societies over the ages because of their allegedly pleasurable and relaxing effects or as a means of relieving physical tensions, fatigue and as stimulant to withstand advertise. However , with the unprecended expansion of pharmaceutical industry, the use, abuse and misuseRead MoreMarketing Environment of Tesco8944 Words   |  36 Pagesorder each of us would speak in class, there seemed to be a lack of enthusiasm with some individuals which created a slight unease between the group before we presented to the class our finished presentation. Overall I felt the presentation went very well and the content we provided in the slides were very detailed and of good quality. The appearance of the presentation was very attractive and appealing to the audience as well. From the feedback sheets (attached) that were given to us as a groupRead MoreThe Importance of Considering Philosophical and Psychological Foundations in Developing a Curriculum.9983 Words   |  40 Pages------------------------------------------------- In describing the Philosophy and Psychological Studies at Open University in England, it was clearly written that: Philosophy and psychology seek to answer profound questions about us, our minds, our behaviour, and our place in the social and physical universe. What makes us happy? Do humans display irrational biases? How can I, a mere physical being, have thoughts and emotions? How does science progress and can I trust it? By what moral authority does the state rule over meRead MoreCarlsbergs Strategic Analysis15964 Words   |  64 Pagesform in 1847, numerous changes have occurred in the company’s values, quality and certainly the variety of the beverages has increased dramatically. Carlsberg is in constant process of development, be it new, innovative products aiming upon diverse age groups or conquering a new market around the globe, while attempting to create unique products for each country and culture. According to up to date information Carlsberg has introduced around 307 different types of beers and other cereal-based beverages

Parenting Styles Parents Are The Ultimate Role Models...

Parenting Styles One of the challenges every parent faces is determining the best way to raise their child. Bob Keeshan states that parents are the ultimate role models for children. Every word, movement and action has an effect. No other person or outside force has a greater influence on a child than the parent. Parents use various techniques to raise their kids. How a child is raised or developed is depend on the structures that the parents used. A parent is not intrinsically bad or good; he or she is just a parent who makes good or bad choices. Good parents or bad parents, they all grouped in three different category based on the method that they choose to raise their children. According to clinical and developmental psychologist Diana Baumrind, parents are classified as authoritarian, authoritative, and permissive. To start with, authoritarian is the â€Å"because I said so† parents, it is both unresponsive and demanding. The main characteristics of this style is that parents are very strictly and controlling. Open communication is generally not an option in this type of parenting style. They expect their orders to be obeyed without question. Authoritarian parents feel they are the boss and their children should conform to their demands without question. Kids from authoritarian families may be relatively well-behaved. But they also tend to be less resourceful, have poorer social skills, and lower self-esteem. The rules are expected to be followed to with no room forShow MoreRelatedParenting Styles And Its Effects On Children957 Words   |  4 PagesParenting Styles One of the challenges every parent faces is determining the best way to raise their child. Bob Keeshan states that parents are the ultimate role models for children. Every word, movement and action has an effect. No other person or outside force has a greater influence on a child than the parent. Parents use various techniques to raise their kids. How a child is raised or developed depends on the structures that the parents used. A parent is not intrinsically bad or good; he or sheRead MoreTraditional Models Of Chinese Parenting968 Words   |  4 Pages Being a parent can be one of the most difficult and demanding jobs a person will ever have. Most parents want his or her children to become independent, productive, and successful. Parents have a lot of responsibilities with his or her children. Most parents will develop their own style of parenting. A parenting style is defined as a person that instructs, define boundaries, and set rules that parents utilizes in the child’s r earing. Some examples of modern parenting styles include Helicopter parentingRead MoreParenting Styles Have A Huge Impact On The Developmental Process Of Children1522 Words   |  7 PagesParenting styles have a huge impact on the developmental process of children. In this paper I will be explore the four different parenting styles that Baurmrind came up with. Behavioral and social scientists recognize a group of basic categories in parenting styles: authoritarian, authoritative, permissive, and neglectful (Baumrind, 1966; Maccoby and Martin, 1983). Authoritarian parents have very high expectations for their children. According to Baumrind, these parents are obedience- and status-orientedRead MoreAnalysis Of Willy Miller s A Salesman 1306 Words   |  6 Pagesâ€Å"Call out the name Willy Loman and see what happens! Big shot!† (#, Miller). Willy belabors his immense success in the business world to the point where it is quite obvious that he greatly lacks self-esteem and self-worth. Thus, his position as a role model is anything but flattering and further effects Biff and Happy to falsely recognize morale as they mature. Loman’s small-minded motto of ‘popularity over academics’ connects to his exaggeration flaw. While he exaggerates his ‘good looks’ and popularityRead MoreEssay How Do Parents Influence Child Development1680 Words   |  7 PagesHow do parents influence child development? Parents play a significant role in influencing their child’s development. Were you ever curious why you act the way you do? Why did you turn out the way you did? There are many factors that affect a child’s development. One being the attachment the child received during infancy, whether the child had a secure or unsecured bond with their parent. The second element is the types of parenting styles used while the child was developing. There are three components:Read MoreEssay on Sibling Order Stereotypes1434 Words   |  6 Pagesmy family I was the first born of two children. For me this meant that I was the ultimate guinea pig for my parents, and therefore how I was raised was much different from how my younger brother was raised. I notice, now that I am older, there were many differences on the parenting techniques that were used to raise us both as individuals. Ultimately this caused my brother and I to be totally opposites. To this day I feel like birth order pla ys a large role in my family, and sometimes it is hardRead MoreThe Negative Effects Of Parenting1928 Words   |  8 PagesWhat kind of a parent would you desire to be? Most parents desire to be positive role-models and raise their children to be strong and confident individuals. What some do not realize is the amount one person’s actions can affect another’s life. Whether good or bad, a parent can significantly impact a child’s life. Independence is one important aspect of life for children to learn in childhood. How do people know if their parenting style is on track to foster these important aspects? There are multipleRead MoreBehavior Is Most Influenced by the Nurturing of Our Parents2354 Words   |  10 Pagestheir parents’ raised them. Being nurtured by someone at such a young age, many do not realize how much of an influence their parent was to their development. People only understand the significance of parenting until they start tending their o wn children. Parenting is more important and has a long-term effect on children than what most parents assume. It is vital for parents to realize that every action they conduct is significant in a child’s development and how content and prosperous children becomeRead MoreMy Leadership Skills At An Early Age2824 Words   |  12 Pagesrelationships whereby I would always organize the activities; (b) a quick promotion after two months to a leadership role in my first after school job; (c) securing funding to open my own business in my early twenties; and (d) obtaining senior level leadership roles in every organization I have worked for. I had assumed that this innate ability this would continue when I became a parent; that I would quite naturally have the knowledge and skills to effectively raise my child just as I have successfullyRead MoreFamily Is A Big Part Of Life2459 Words   |  10 Pagesfamilies in terms of personal beliefs such as religion, marriage, children and ed ucation. This paper will help to identify the similarities and difference between ethnicities and how they impact family life and relationships. To begin building a family, many couples get married. Marriage is one of the biggest decisions made in life and often leads to the creation of children. Based on the upbringing and background of the family, the children may carry out similar behaviors. Many ethnicities have different

Hunger Games Book Report Essay - 1028 Words

The Hunger Games Book Report 1. State the title, author, and number of pages. The Hunger Games is a novel written by Suzanna Collins. The book consists of 374 pages. 2. Tell what the book is about. Describe the setting. The book is about Katniss, a sixteen year old girl, who lives in district 12 with her mother and her sister, Prim. Each year, the Hunger Games are held, and a boy and a girl from each district are chosen to fight to the death. Prim is chosen but Katniss volunteers to take the place of her in the game. Peeta is chosen as the boy from District 12. The majority of the book takes place in the Arena designed by the Gamemakers. The main goal of the games is to kill the others and be the last one standing. The winner and their†¦show more content†¦Cinna, Katniss’ stylist, is a supportive and clever person who helps to win the hearts of the audience. He supports her by motivating her and by being as friend to her. 5. Describe the main problem or conflict the characters have to solve. The main problem/conflict throughout the novel is the struggle to survive. The 24 contestants in the Hunger Games must kill each other and be the last one remaining. Another conflict is the conflict that Katniss has with herself. She battles with herself, unable to decide whether she loves Gale or if she loves Peeta. For all of the contestants, they must decide who to befriend, betray, or kill. 6. Describe some things that happened as the characters tried to solve the problem. While competing in the Hunger Games, Katniss is unsure if Peeta is on her side or not because he betrays her and joins the Careers; plotting to team up and kill the weak. This make Katniss extremely confused, causing her to be uncertain of whether or not she will be able to kill Peeta since he is her supposed star-crossed lover. She also debates with herself because she cannot decide if she is in love with Gale or Peeta. During the Hunger Games, Katniss becomes friends with Rue through the mocking jay pin. Rue is killed, but Katniss remembers her by using the wisdom that she learned from Rue. 7. Tell how the book ended. In the endShow MoreRelatedThe Hunger Games ( Book Report )759 Words   |  4 PagesThe Hunger Games By Landon Courtney The Hunger Games was written by Suzanne Collins. The Hunger Games generates suspense, action, and science fiction, and a form of dictatorship. The setting is in Panem, formerly North America. Part of the book is in District 12, near the Appalachian Mountains. It is set in the future. Katniss Everdeen is the main character in the Hunger Games. She is sixteen years old; she is determined, loving, and caring. She has straight black hair that is usually braidedRead MoreBook Report for The Hunger Games by Suzanne Collins621 Words   |  2 Pages I did my book report on The Hunger games, because it is suspenseful, adventurous, and has tons of action. This is about Katness, Peeta, Haymitch, Effie, and the Games. In a nation called Panem, which exisits in the land of once known as America, there were 12 districts. Previously, there was 13, but because of the start of a revolt against the Capitol, the a13th district was eliminated. Because of this attempt revolt, The Capitol holds the annual Huger Games. The Hunger Games are literally aRead MoreThe Hunger Games Book Report, 7th Grade Level. Essay630 Words   |  3 PagesThe setting in the Hunger Games is not in the past or present, but in the future. The story takes place in District 12 and in a place called the Arena. District 12 is an old and very run down. It is a very; dull place of mines. The Arena is ;where the Hunger Games take place. It is a dangerous and scary place. The main protagonist is Katnis Everdeen. She is very good and is tryihng to get back to her family. She volunteered for her sister to go into Hunger Games. Cato is the antagonist.Read MoreThe Hunger Games : Mockingjay1116 Words   |  5 Pages YASHA’S BOOK REPORT- THE HUNGER GAMES: MOCKINGJAY PLOT ‘THE HUNGER GAMES: MOCKINGJAY’ takes place several months since the last outing, Catching Fire. Seventeen year old Katniss Everdeen has survived The Hunger Games twice, but along with her outstanding victory, which bewildered The Capitol’s devious Gamemakers. There were consequences. The infuriated president of Panem, President Snow, didn’t see actions taking place in order to eliminate Katniss, which was his bidding. Therefore, he plansRead MoreThe Hunger Games By Suzanne Collin1626 Words   |  7 PagesIn Suzanne Collin’s trilogy The Hunger Games, the story focuses on the journey and struggles of sixteen-year-old Katniss Everdeen within the dystopian society of Panem. Throughout the books, Katniss is torn between choosing to fight the injustice and tyranny that has long been a problem for the people of Panem, or to give in to the power of the Capitol in order to keep herself and more importantly her family safe. In the end she rises up and without really intending to, becomes the hero that hasRead MoreThe Hunger Games By Suzanne Collins911 Words   |  4 Pages The Hunger Games, a novel by Suzanne Collins, is the story of 16 years old, Katniss Everdeen, who fights to death for her district. The Hunger Games is an event hosted every year by the C apitol of Panem, where a randomly chosen boy and girl both need to represent each of the twelve districts that the capitol is composed of. When Katniss little sister, Prim, is chosen to be the representative for District twelve, Katniss volunteers to take her place and fight along her male counterpart, Peeta. TheRead MoreThe Hunger Games And The Sniper806 Words   |  4 PagesSometimes being brave is the only way to get through some situations in life. Katniss from The Hunger Games is brave and so is The Sniper from The sniper. Katniss from The Hunger games and The Sniper from The Sniper are brave because they both risk their lives for their loved ones. First of all, Katniss from The Hunger Games is a brave character because she shot very close to a judge to prove herself and she volunteered for tribute. The first reason shes brave is because she volunteered for tributeRead MoreSummary of Catching Fire by Suzanne Collins1065 Words   |  5 PagesFor my book report I chose â€Å"Catching Fire† by Suzanne Collins. Catching Fire is set in a alternative universe that is set up in a way a monarchy would function there is the king or a president who is a cold hearted human being named President Snow. Then there are the nobles or in this situation the capital people, the capital people are wealthy and they dress outrageously just so people can distinguish them from non wealthy people. Lastly skipping the presents you have the slaves or the districtsRead MoreAnalysing Movies that Have to Do with Marxism, Panopticism and Globalization1693 Words   |  7 Pagesentering into a cyber-capitalist era. The ideas of importance in this essay are as follows: Marxism, Panopticism, and Globalization. The movies that shall be examined, in relation to the ideas listed above, are as follows: Beijing Bicycle, The Hunger Games, and Fahrenheit 451. Capitalism, the embodiment of the American dream, is the idea of personal property and the pursuit of personal wealth; but, is Capitalism truly what it promises to represent? In taking a look at the movie, Beijing BicycleRead MoreThe Hunger Games By Suzanne Collins1335 Words   |  6 PagesBanned Book Report The Hunger Games By: Suzanne Collins Crystal Hodge My fingers stretch out, seeking Prim s warmth but finding only the canvas cover of the mattress. She must have had bad dreams and climbed.My sister, Prim, curled up on her side, cocooned in my mother s body their cheeks pressed together. Mashed- in nose, half of one ear missing eyes the color of rotting squash. Prim named him Buttercup insisting that his buddy yellow coat matched the bright flower buttercup was the ugly cat

Agency Theory And Stakeholder Theory - 1851 Words

The interests of stakeholders, including individuals, corporations and society, are in extreme conflict with each other and have different goals they want to be achieved. This essay will be arguing that social and non economic interests can be aligned as well as the interests of certain stakeholders, in particular the shareholders and executive directors/managers, can be aligned to a certain extent as there will still be some conflict in interests. The first half of this essay will be introduce agency theory and stakeholder theory and how it looks to align the interests of individuals, corporations and society. Also discussed in the first half essay will be how Cadbury looks to align the interests of the stakeholders. The second half of the essay will be arguing the reasons for and against the alignment of interests, such as executive pay and structure of boards. Agency theory and stakeholder theory will be a reoccurring theme throughout the essay because the arguments made will be linked back to either stakeholder theory or agency theory and if possible, be discussed from both of the theories perspective. Principal - agent relationships is when one party, the principals, hires another party, the agents, to act on their behalf. Shareholders hire executives or managers to take control of the firm and make decisions on their behalf to maximise their interests. The control of the business is divorced between the principals and the agents therefore there is a conflict ofShow MoreRelatedAgency And Stakeholder Theories To The Enron Debacle6344 Words   |  26 PagesBusiness and Society Review 110:1 59– 76 Applying the Agency and Stakeholder Theories to the Enron Debacle: An Ethical Perspective Blackwell Oxford, Business BASR  © 0045-3609 O 1 110 BUSINESS CULPAN riginal 2004 Center UK Article and and Publishing, and TRUSSEL Society for SOCIETY Business Ltd. Review REVIEW Ethics at Bentley College REFIK CULPAN AND JOHN TRUSSEL INTRODUCTION W e examine the infamous Enron debacle from an ethical perspective by deï ¬ ning its theoretical underpinnings and analyzingRead MoreDiscuss the Influential Role That Agency Theory, Transaction Cost Theory and Stakeholder Theory Have Played Both in the Conception and Reform of Corporate Governance. Your Discussions Should Include the Basic Concepts2027 Words   |  9 Pagesthree important theories in corporate governance, different theories using different terminology, and views corporate governance from different perspective. Some articles are used to support these theories in this paper. From the Cadbury Report in 1992, we can get the information that corporate governance is the system by which companies are directed and controlled, which involves a set of relationship between a company’s management, its board, its shareholders and other stakeholders, and the objectivesRead MoreCompeting Models Of Corporate Governance1398 Words   |  6 Pagestwo main competing models in corporate governance. Stakeholder method Under the stakeholder model of corporate governance, firms owned and controlled by small number of major shareholders. This model of corporate governance often called as the relationship based method due to the close relationship maintained between companies and their major shareholders. This close relationship, little separation of ownership and control minimises the agency problem. However, as a result of the minimum separationRead MoreCorporate Ethics Theory And Stakeholder Theory1309 Words   |  6 Pagesbeen regarded to devote solely to the company’s shareholders. However, this notion is seen as immoral. This is because according to the notion of corporate social responsibility, business must behave ethically, represents a broader recognition of stakeholders and must take into account economic, social and environmental inputs in the way it operates. Hence, people against the notion of shareholder primacy suggest that the director should also take into account the intere st of a wide range of shareholdersRead MoreCorporate Social Responsibility : Csr979 Words   |  4 PagesThe notion of Corporate Social Responsibility is a phenomenon globally known for many years. In spite of the fact that CSR has been neglected for quite a long time, nowadays several authors deal with this issue, as revealed by the development of theories in recent years concerning the topic. In spite of the fact that there has been a huge growth of literature it is still impossible to simply define CSR. Many definitions trying to capture the concept of CSR exist, but their content varies (MattenRead MoreStakeholder Theory Vs. Stakeholder Thinking1160 Words   |  5 PagesStakeholder theory and definition Stakeholder is defined as â€Å"any group or individual who can affect or is affected by the achievement of the organization’s objectives† (Freeman 1984). Stakeholder theory, when introduced in the 1980s, signify a major change in how relationships within a business might coexist and benefit one another. The concept of â€Å"Stakeholder theory† or â€Å"stakeholder thinking† is about identifying groups who are stakeholder in a corporation and manage them. It states that organizationsRead MoreTransparency Is Key Aspect of Corporate Governance1331 Words   |  6 PagesThe boards of directors are responsible for the governance of their companies so there has to be transparency in company reporting. Transparency is key aspect of corporate governance because of implementing corporate governance this will allow stakeholders and shareholders to review and evaluate performance of management and the company this ensures that the board of directors and the executiv e directors of corporations act in the best interest of shareholders and the corporations. It is implementedRead MoreThe Effect of Agency Problems in Value Maximization636 Words   |  3 PagesTHE EFFECT OF AGENCY PROBLEMS IN VALUE MAXIMIZATION Siti Balkish Roslan ZP01796 Financial Management 2/2013 According to HBS Professor Michal C. Jensen, many managers are caught in between the desire to maximize the value of their companies and the demands of â€Å"stakeholder theory† to take into account the interests of all the stakeholders in a firm. It is already agency problems arise within a firm whenever managers incentives to pursue own interests at the shareholder expense. This is commonRead MoreThe Success Or Failure For The Walt Disney Company Essay1502 Words   |  7 Pagesdiscuss about how the success or failure for The Walt Disney Company apply several corporate government theories and corporate board management to their organisation. 1.2 A - Definition of Corporate Governance Corporate governance is the internal and external framework of verification and counterbalance to the organisation. This framework ensures that accountability discharge to all their stakeholders by an organisation. Meanwhile, at all areas of the business activity, the organisation should act inRead MoreThe Agency Theory For The Best Interest Of The Shareholders1234 Words   |  5 PagesThe Agency Theory: This theory attributes the control for the best interest of the shareholders,it was introduced by Demsetz and Alchian (1972 )and was further improved by Meckling and Jensen ( Heslinda and Benedict,2009). The agency is a contract between the principal which are shareholders and the agent which are the managers . Most of the literature on corporate governance finds its roots in agency theory the relationships normally occurs when the principal hires the agent to perform a service

OSHA Lawsuit Free Essays

In this article, there are no details given on what was the nature of the complaints filed by the employee originally, however, searching the internet for other related articles, I found one of a reason for which the employee may had been ruminated, â€Å"OSHA says the employee was fired after complaining about a potentially unsafe situation of finding the building unsecured when she arrived, alone, to open the store. The worker also filed a safety and health complaint with OSHA, which triggered an OSHA inspection that identified two unrelated violations. (Two Whistler’s†¦ , n. We will write a custom essay sample on OSHA Lawsuit or any similar topic only for you Order Now D. , p. Xx-xx). In my opinion, the employer, Xebec Inc. Could have done a lot to address the situation as soon as It learned of the complaint. First of all, securing the doors of the business should have been of outmost priority, not only to Insure the safety of the employees, but to safeguard the equipment, Inventory and other Items that may been left In the store overnight. Launching an Investigation to find out why the door was not secured, should not have been a major issue as it was. Making sure the employee’s was heard and safety precautions put in place should be a first priority to every employer, these safeguards could not have been costly at all either, there should not have been any excuse. Secondly, the employer should have reassure the employee once the safeguards were put into place, that a situation such as this would be addressed every time she rough it up, to make her feel secure on the performance of her duties. Also, if the employee had any suggestions as to how to better guard her well-being when she enter the store first-thing In the morning, should have been part of a plan of action. Often, employers are not present at all times to Insure that everything goes smoothly during business hours and they must rely on their employees to be their eyes and ears during their absences. Lastly, terminating the employee was not going to end the employer’s responsibility to other employees and their community. If the store’s door was constantly left open overnight, word could have gone out the undesirable members of community as a place where they could commit crimes, therefore, putting the rest of the business owners at risk. References; Todd, E. , Rodriguez,J. (201 3, January 31 Us department of labor files whistle- blower lawsuit against Helena, Mont. Based xebec Inc.. Retrieved November 8, 2013, Unknown (n. D. ). Two Whistler’s Lawsuits Filed over Workplace Violence Allegations Ð’Â » Safety’s. Retrieved November 8, 2013, from http://safety’s. Com/ Article How to cite OSHA Lawsuit, Papers

Cloud Computing DSI

Question: Discuss the requirements for remote administration, resource management and SLA management. It may be useful to consider Morad and Dalbhanjans operational checklists for DSIs OSDS. Discuss briefly how you will consider application resilience, backup and disaster recovery for your chosen provider in relation to OSDS. Answer: Introduction The researcher introduced the report about cloud computing and discussed various aspects of cloud computing for DSI (Department of Spatial information). The suggested deployment is selected by DSI organization, and further assessment and information are required for technical and SLA management. In this report, the presented context describes the abilities that need to be met for different organizations. The document provides a brief idea about the management requirements and the necessity of SLA for the chosen cloud service provider. The overview of the report is to discuss in detail about the assessment of security, deployment model by DSI for OSDS (Online Spatial Delivery System) and risk management. The document also explains why we need the remote administration and SLA management and the recovery and backup plan for OSDS. 1. Requirement for SLA and Resource Management and Remote Administration The below points are explained in brief about the requirement of the resource and SLA management and remote administration. 1.1 Service Level Agreement Management The SLA (service level agreement) is an agreement or a document of contract between two firms or company where one is a service provider, and other is client or customer. It defines about what the service provide will provide you and what penalties or fine the service provider will pay the customer in case of any failed case (Wu Buyya, 2012). The purpose of SLA management is to manage SLA in such a way that the client's needs are well presented in front of the service provider, and they can provide a better service as per the needs. All these are mentioned in detail in the service level agreement. The requirement of service level management is important as it is the selected method for measuring the service performance (Abawajy et al., 2015). 1.2 Resource Management It is one of the important features of project management that deals with demands of the project resources, financial, distribution, and human. To retain the best talent, improve customer satisfaction, enhance billable utilization and increase profit margin effective resource management is a major aspect for all the DSI service executives those who are looking to enhance and improve the following points that are mentioned above (Manvi Shyam, 2014). The quality service is much expected by the service provider. Provide a complete control and visibility. Moreover to handle a huge of customers in the most effective manner has some important challenges. The resource management plays a major role in customer satisfaction and total performance enhancement. The resource management has to be effective on both the ends (service provider and end user) (Jhawar et al., 2012). 1.3 Remote Administration Based on the abilities of the desktops the organization uses the servers using cloud computing. The remote administration gives the user the power to access the data irrespective of the location. Reboot and shut down another computer over a network. Retrieve streaming data and a network device. Modify system services and logical groups. The files can be obtained from anywhere in this world using a different range of devices (Ramachandran et al., 2015). The interface of the remote administration system will be decided by the management system. It handles the usage and charter cost fees. It monitors properly whether the quality of SLA and service is met or not. It plans the capacity. It keeps the records of status, usage and its service performance (Falfushinsky et al., 2014). 2. Resilience, Backup and Disaster Recovery 2.1 Disaster Recovery According to Khoshkholghi et al., (2014), the disaster recovery process is a relatively new internal activity, and there are lots of misinformation and hype that is going around. The data recovery plan is divided into five stages, and DSI has to follow those five steps to restore their research data in case of any disaster. Collecting and evaluate the needs of data protection Department of spatial information requirement which will be gathered in this stage and the data that has been collect play a key role to facilitate the cloud data protection. Data protection is important to be evaluated properly. Selecting a cloud service provider In this stage, DSI needs to choose a right service provider which is already done. Price estimation The payment activities will be conducted on either by monthly subscriptions or based on the storage space and bandwidth. Building bandwidth management plan The OSDS requirements are considered at this stage for the managing the internet bandwidth. Determining the Logistic Requirements Department of spatial information needs to consider various logistic requirements for performing full such as cloud based directory services and active directory synchronization. 2.2 Backup Data The data backup process is also an internal process or activity of cloud computing. For backing up the data RAID SIX is used to back up all data when to compare to the data recovery tool it is much faster and better. The service provider will install two extra disks than required to provide better support (Chen Zhao, 2012). It has a high fault tolerance, high drive failure, and the data retaining period is high on an online spatial delivery system (OSDS). 2.3 Resilience Resiliency refers to the capability of the storage system, entire data center, network, and server. It still operates when there is power outage or equipment failure or any other kind of interruption. It is there to recover the data as quickly as possible. When the project planning is proposed the resiliency and introduced; and moreover it is linked up to the disaster plan and the with another data center for disaster recovery. The resiliency is obtained through unwanted components or other internal system or by enabling the datacenter (Jhawar Piuri, 2013). 3. Service Level Agreement Assessment As discussed by Morin et al., (2012), the service provider increases their service quality by managing their non-violation and infrastructure through SLA. The SLA gives the authority to access the resources of a various cloud service provider. The assessment goal is to address various risk aspects or factors of the cloud computing (Carlsson Fullr, 2013). To evaluate the risk factors, there are many different methods and models that can be obtained. The ownership of DSI needs to be confirmed by stored data in the vendors system. In a case of any failure, a solution needs to be implemented. The specific parameter needs to be defined. The SLA is to provide a stable service to the vendor that is selected by the Department of spatial information (Ficco et al., 2012). The risk assessment has a great impact on cloud computing. The effect of the risk in the design and architecture is reviewed by the risk management. The system infrastructure and security regulation is done. Conclusion: The presented report indicates that Department of spatial information needs to be considered all the points that are discussed above. The SLA management, Recovery Management, and Remote administration are critical for DSI, and they need to review it properly and implement it in their organization. The mentioned disaster recovery and data backup are some critical process for cloud computing and need to be addressed properly as well. To have a better experience in cloud computing DSI needs to consider all the points and have to do a critical analysis of any risk factors that might affect the implementation process. The service level agreement is very critical and important, and both DSI, and the service provider needs to review it all together and have to identify if there are any risk and how they can eliminate the risk using better assessment. References Abawajy, J., Fudzee, M. F., Hassan, M. M., Alrubaian, M. (2015). Service level agreement management framework for utility-oriented computing platforms.The Journal of Supercomputing,71(11), 4287-4303. Carlsson, C., Fullr, R. (2013). Probabilistic versus possibilistic risk assessment models for optimal service level agreements in grid computing. Information Systems and e-Business Management, 11(1), 13-28. Falfushinsky, V., Skarla, O., Tulchinsky, V. (2014). INTEGRATION OF CLOUD COMPUTING PLATFORM TO GRID INFRASTRUCTURE. International Journal of Computing, 12(4), 333-339. Ficco, M., Rak, M., Di Martino, B. (2012, November). An intrusion detection framework for supporting SLA assessment in cloud computing. In Computational Aspects of Social Networks (CASoN), 2012 Fourth International Conference on (pp. 244-249). IEEE. Jhawar, R., Piuri, V. (2013). Fault tolerance and resilience in cloud computing environments. Computer and Information Security Handbook,, 125-141., March). Data security and privacy protection issues in cloud computing. In Computer Science and Electronics Engineering (ICCSEE), 2012 International Conference on (Vol. 1, pp. 647-651). IEEE. Khoshkholghi, M. A., Abdullah, A., Latip, R., Subramaniam, S., Othman, M. (2014). Disaster recovery in cloud computing: A survey. Computer and Information Science, 7(4), 39. Manvi, S. S., Shyam, G. K. (2014). Resource management for Infrastructure as a Service (IaaS) in cloud computing: A survey. Journal of Network and Computer Applications, 41, 424-440. Morin, J. H., Aubert, J., Gateau, B. (2012, January). Towards cloud computing SLA risk management: issues and challenges. In System Science (HICSS), 2012 45th Hawaii International Conference on (pp. 5509-5514). IEEE. Ramachandran, M., Chang, V., Li, C. S. (2015, January). The improved cloud computing adoption framework to deliver secure services. In Proceedings of ESaaSA 2015-2nd International Workshop on Emerging Software as a Service and Analytics, In conjuction with the 5th International Conference on Cloud Computing and Services Science-CLOSER 2015 (pp. 73-79). Scitepress. Wu, L., Buyya, R. (2012). Service Level Agreement (SLA) in utility computing systems. IGI Global.

What is the Function of the Inspector In The Play as a Whole, to the Plot, Characters And the Audience Essay Example For Students

What is the Function of the Inspector In The Play as a Whole, to the Plot, Characters And the Audience Essay The play An Inspector Calls was set in 1912 in an industrial city in the North Midlands. In the play Arthur Birling, a prosperous manufacturer, is holding a dinner party to celebrate the engagement of his daughter Sheila to Gerald Croft. Arthur Birling is naive about things like war and he doesnt believe in community and is very selfish. He only cares about himself and his family, and seems to think that he can abuse people who are of a lower class than himself. The party is interrupted when a police inspector, Inspector Goole, turns up to question members of the family about the suicide of a young working class woman. We will write a custom essay on What is the Function of the Inspector In The Play as a Whole, to the Plot, Characters And the Audience specifically for you for only $16.38 $13.9/page Order now The inspector interrogates them all and, and every member of the family turns out to have done something terrible to the woman. He tells the family she had a few identities. The inspector says that the woman died by drinking a lot of strong disinfectant. He claims that Arthur Birling upset her when a girl called Eva Smith worked for him and asked for more money, she was refused it she went on strike and he ended up firing her. He protests and says that he was paying her good money and her suicide couldnt possibly be his fault as it happened almost two years ago. The function of the inspector at this point of the play is to try and make Mr Birling feel guilty about his decision to fire the girl. Birling did not feel any remorse as he is a heartless man. He didnt care about the girl as he didnt know her; he seems to only care about people close to him and not about people around him who get hurt by his decisions and things he does. Next the inspector talks to Sheila Birling. He says the young girl got a job in a shop called Milwards. She got fired because a customer complained about her. The inspector shows Sheila the photograph and she recognizes the person and starts crying and she runs out of the room. Sheila admits that it was her who complained about the woman and lost her the job. She said the girl upset her because she had been trying on a dress and everyone had said it wouldnt suit her and when she had the dress on the girl smiled at the other assistant as if to say Doesnt she look awful? . And then she held up the dress to her and Sheila knew the girl would look better in the dress than she did. The role of the inspector at this point of the play is to make Sheila feel wrong about complaining about the girl and losing her job. She complained for a selfish superficial reason. Sheila could not handle that the girl was more attractive than her and she was paranoid that she was talking about her appearance to another assistant in the shop. The inspector tells the members of the family that the woman next changed her name to Daisy Renton. Gerald Croft obviously recognises the name but tries to deny it. This is because he had been having a relationship with the girl behind Sheilas back. He had met the girl, who had then changed her name to Daisy Renton, in the bar of the Palace Music Hall in Brumley. He saw the girl wedged into a corner by a half-drunk and goggle-eyed Joe Meggarty. He saw the girl looked uneasy so he made excuses to get rid of Joe Meggarty, and he took the woman to the County Hotel for a quiet drink. They talked and Gerald found out that the girl was penniless and that she was about to be turned out of the miserable back room she was living in. .u59b714285e220c8be1c1a6a86156152c , .u59b714285e220c8be1c1a6a86156152c .postImageUrl , .u59b714285e220c8be1c1a6a86156152c .centered-text-area { min-height: 80px; position: relative; } .u59b714285e220c8be1c1a6a86156152c , .u59b714285e220c8be1c1a6a86156152c:hover , .u59b714285e220c8be1c1a6a86156152c:visited , .u59b714285e220c8be1c1a6a86156152c:active { border:0!important; } .u59b714285e220c8be1c1a6a86156152c .clearfix:after { content: ""; display: table; clear: both; } .u59b714285e220c8be1c1a6a86156152c { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u59b714285e220c8be1c1a6a86156152c:active , .u59b714285e220c8be1c1a6a86156152c:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u59b714285e220c8be1c1a6a86156152c .centered-text-area { width: 100%; position: relative ; } .u59b714285e220c8be1c1a6a86156152c .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u59b714285e220c8be1c1a6a86156152c .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u59b714285e220c8be1c1a6a86156152c .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u59b714285e220c8be1c1a6a86156152c:hover .ctaButton { background-color: #34495E!important; } .u59b714285e220c8be1c1a6a86156152c .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u59b714285e220c8be1c1a6a86156152c .u59b714285e220c8be1c1a6a86156152c-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u59b714285e220c8be1c1a6a86156152c:after { content: ""; display: block; clear: both; } READ: The other characters in the play EssayHe took pity on her and gave her some money and let her stay in some rooms that Gerald was looking after for his friend, Charlie Brumswick, who had gone off to Canada. Daisy Renton was very grateful for the help Gerald gave her and the two started to make love on occasions, and Gerald made excuses to Sheila that he had been very busy at the works at that time. At this point of the play the inspector reveals a big secret. He lets out that Gerald was unfaithful to Sheila. He gets Gerald to reveal more as he feels he needs to justify everything and explain to Sheila. He is very manipulative and uses what little knowledge he has about the affair to try and make Gerald think he knows every detail, so he feels that there is no point in denying things as he is under the impression the inspector knows everything any way. He also needs to clear his conscience with his bride to be, Sheila. The inspector then shows Mrs Birling the photograph. She denies that she has seen the woman before in her life but then admits that two weeks previously at the Brumley Womens Charity Organization in which she is a prominent member of. The woman had appealed to the organization for help under the name Mrs Birling, which had offended Mrs Birling greatly. Mrs Birling refused the girl help. The girl wanted help because she was pregnant and Mrs Birling told her to look for the father of the child as it was his responsibility. The woman had told Mrs Birling that the father of the child was just a young boy who liked to get drunk, she said he had offered her money but she had refused as she had suspicions that it was stolen. She argues that the father of the child should be the one being questioned and he should be punished for getting the young girl into trouble. The inspector makes Mrs Birling reveal her opinion on the situation to the whole family, making sure everyone knew that she was against the father of the child. He knew what was going to be revealed next, which would make her look foolish, and against her own child. They then find out that the father of the child is Eric, Mr and Mrs Birlings son. He enters the room and confesses and tells the Inspector how he met the girl. He had met the girl the previous November at the Palace bar where they had both been drinking and were quite squiffy. Eric went back to her room and the two made love. He met her again another day and they made love again. The woman then told him she was pregnant. Eric tried to help her out by giving him money that he had stolen from his fathers office. The inspector makes Eric reveal to his father he stole from him and to his mothers distress that he fathered a child of a woman who she had talked to at her organization. The inspector makes Eric feel bad as while he is admitting his shameful secrets, he is aware that his own mother is has made it blatantly clear that she was against the father of the child right from the start, and he knows how disappointed and shocked the whole family are with him. The whole family seem to be against each other and all their views on the suicide of the girl conflict. They have not just each done something terrible to a girl; many of them have betrayed their family and loved ones. When the Inspector leaves the members of the family start to wonder if the Inspector actually was who he said he was. .u67d3bab06cc47d1ab0856cc54c715ead , .u67d3bab06cc47d1ab0856cc54c715ead .postImageUrl , .u67d3bab06cc47d1ab0856cc54c715ead .centered-text-area { min-height: 80px; position: relative; } .u67d3bab06cc47d1ab0856cc54c715ead , .u67d3bab06cc47d1ab0856cc54c715ead:hover , .u67d3bab06cc47d1ab0856cc54c715ead:visited , .u67d3bab06cc47d1ab0856cc54c715ead:active { border:0!important; } .u67d3bab06cc47d1ab0856cc54c715ead .clearfix:after { content: ""; display: table; clear: both; } .u67d3bab06cc47d1ab0856cc54c715ead { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u67d3bab06cc47d1ab0856cc54c715ead:active , .u67d3bab06cc47d1ab0856cc54c715ead:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u67d3bab06cc47d1ab0856cc54c715ead .centered-text-area { width: 100%; position: relative ; } .u67d3bab06cc47d1ab0856cc54c715ead .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u67d3bab06cc47d1ab0856cc54c715ead .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u67d3bab06cc47d1ab0856cc54c715ead .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u67d3bab06cc47d1ab0856cc54c715ead:hover .ctaButton { background-color: #34495E!important; } .u67d3bab06cc47d1ab0856cc54c715ead .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u67d3bab06cc47d1ab0856cc54c715ead .u67d3bab06cc47d1ab0856cc54c715ead-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u67d3bab06cc47d1ab0856cc54c715ead:after { content: ""; display: block; clear: both; } READ: Hamlet's character EssayGerald returns from his walk he had taken to clear his head and starts to express his doubts to the family about the Inspector. He feels that the Inspectors manner was not like he had ever witnessed before and Mrs Birling agreed that she thought the way he had spoken to the members of the family was rude and not the usual behaviour of an Inspector. Gerald decides to call the police station to ask if there is an Inspector Goole and he finds that there in fact isnt. Mr and Mrs Birling and Gerald start to relax about what they have learnt in that night but Eric and Sheila are still upset about what they have been told. They feel that even though the Inspector was not who he said he was they should all still feel guilty as what they have done is bad. Gerald starts to think about the happenings of the night and he thinks that the Inspector had tricked them all to admitting their secrets and that he could have shown each of them different pictures and the girls different identities could in fact be different people altogether. They start to calm down about the night as they have no proof that there was a suicide. They call the Infirmary to check if any young girls had recently committed suicide and they learn that there had not been one in a while. The family start to feel at ease although Eric and Sheila still feel terrible about mistreating the girl, whoever she may be. The phone then rings and it is the police informing the Birlings that a young girl had committed suicide by drinking a strong disinfectant. The guilt then comes back to all the members of the family and there the play ends. The function of the Inspector in the play is someone who manipulates the family members into admitting revealing secrets such as infidelity, theft and the extent of their selfishness and greed. He is a strong character who is not afraid to be rude to get the truth out of the family. He is very clever as he uses his knowledge of the family to get them to admit more so he can obtain more information about their lives. In the beginning Mr Birling says how much family means to him, and how he does not believe in community. Later in the play the inspector manages to make Birling to begin to realise that he should have respect for people in the community and that what is happening in his family may not how it seems. He had been seeing everything through rose tinted glasses and putting his family up on a pedestal. He had not been recognising things that had been going on under his nose. He may say that he cares deeply about his family, but not enough to know them. If cared as much as he said he would have talked to them or at least noticed changes and things happening. The inspector tries to show the Birling family the meaning of family and community and to make a balance, and make more of an effort with everyone who he meets in life.

Sample of a Cover Memo For a Memoir Essay

Sample of a Cover Memo For a Memoir EssayIf you want to get your sample of a cover memo for a memoir essay in a hurry, you can do so easily. It's fairly simple, and a bit of a chore to write the actual memo. In fact, you could spend hours upon hours going over your first draft, polishing it, and cutting out all the fluff that really doesn't matter. When you're done, take the cover memo and use it to produce your first journal entry, a web page, or just about anything else.The first thing you want to do is copy your cover memo onto your computer. Since you have no deadline, it would be good to write your memo and have it delivered to you as early as possible. If you do this ahead of time, you won't have to rush to finish your cover memo in order to get it ready for submission.The next thing you want to do is create a pre-packaged template for your cover memo. The best way to create a template is to take your cover memo and copy and paste it into a word processor or some type of word p rocessing software program. Once you've created the template, you're pretty much finished.Now, that you have a template ready, the next thing you need to do is figure out what material you're going to write about in your cover memo. Start by looking at your cover memo, or maybe at the piece of paper in front of you, and putting together a quick note. You may want to include some personal information about yourself or what you like to do.Once you have a good idea of what to write about in your cover memo, just turn it into a writing exercise. After you've had a chance to think about what you'd like to say, you should try to write down a few sentences, perhaps 5 or 10, on your own. This allows you to make sure that what you're saying is easy to remember. This step can also be helpful for editing later on.When you have a couple of sentences down, go back and do your cover memo a second time. Cut away the fluff. Don't make it too long. Keep it short, and above all, don't stress about be ing too formal or too conversational. Just make sure that you keep it simple, and make it short enough to be readable.Make your cover memo into a journal entry, a web page, a brochure, whatever you want to write about. Just remember that a cover memo is for people who are having a hard time finding the time to write a memoir essay, and that you have to save yourself some time by being organized.

Islamic Banking

Islamic Banking In simple terms, Islamic banking is a banking system that functions according to the guidelines laid down by the Shariah (Islamic law). â€Å"Islamic banking is banking based on Islamic law (Shariah). It follows the Shariah, called fiqh muamalat (Islamic rules on transactions). The rules and practices of fiqh muamalat were incorporated from the Quran, the Sunnah and other secondary sources of Islamic law† (Banking Info par.1).Advertising We will write a custom assessment sample on Islamic Banking specifically for you for only $16.05 $11/page Learn More There are two basic principles on which the whole Islamic banking is based on. The first one is that in a partnership firm if the partners are ready to share the profits they should be ready to share the losses as well. In Islamic terms, this principle is called Mudharabah. The second principle prohibits the account holders to either pay or receive interest (Riba) on money borrowed or lent respectively. The Islamic banks also follow these principles in their own transactions. One might think that if no interest is to be given or taken then how the Islamic banking functions. Well, for this problem there is a solution in the Islamic banking system that the borrower can pay an amount (as agreed upon by the two parties) to the lender as a benefit. Now, since the Islamic banking is based on the Shariah, all the transactions are bound to follow the Islamic moral codes of conduct. As such, there is a prohibition to investments or doing businesses engaged in intoxicating products such as alcohol, games such as gambling and foods such as pork. Historical context of islamic banking The past of Islamic banking may be better understood if it is explained in two different parts; first, when there was only the idea of an interest-free banking and second, when the idea was conceived into being by some private inventiveness is some nations and by the government initiative in some others. The earl ier scholars (in 1950s) promoted the idea of interest free banking and called it the Islamic banking system. The ensuing two decades witnessed further interest among people towards this kind of banking. The advent of 1970s witnessed the participation of institutions in this sector. â€Å"Conference of the Finance Ministers of the Islamic Countries was held. The involvement of institutions and government led to the application of theory to practice and resulted in the establishment of the Islamic banks† (Hannan par. 10). Owing to the efforts of the conference attendees, Islamic Development Bank (IDB) came into being in the year 1975.Advertising Looking for assessment on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More ‘The Islamic Banker’ claims that, â€Å"The first model of Islamic banking system came into picture in 1963 in Egypt. Ahmad Al Najjar was the chief founder of this bank and the k ey features were profit sharing on the non-interest based philosophy of the Islamic Shariah† (The Islamic Banker par. 3). Also, â€Å"In 1974, the Organization of Islamic Countries (OIC) had established the first Islamic bank called the Islamic Development Bank (IDB). The basic business model of this bank was based on providing financial assistance and support on profit sharing basis† (The Islamic Banker par. 3). It further claims that, â€Å"By the end of 1970, several Islamic banking systems had been established throughout the Muslim world, including the first private commercial bank in Dubai (1975), the Bahrain Islamic Bank (1979) and the Faisal Islamic Bank of Sudan (1977)† (The Islamic Banker par. 4). 1963-75 1983-84 1985-89 1991-2005 2005 onwards First Islamic bank came into picture in 1963 Iran introduced 100% Islamic banking system In 1985, Fiqh council declared Islamic insurance as Shariah compliant Accounting Auditing Organization for Islamic Fina ncial Institutions (AAOIFI) and Islamic Financial Service Board (IFSB) are established in Malaysia for establishing standards Islamic finance is posting double digit growth at global world. The first private Islamic commercial bank, Dubai Islamic Bank, was launched in 1975 Sudan also launched it in the country In 1989, Sudan introduced 100% Islamic banking Table 1: Brief history of Islamic banking Source: www.shariah-fortune.com Table 2: Detailed history of Islamic banking, Source: (Ariff and Munawar 75). The basis of islamic banking and its organs As mentioned earlier in the paper, Islamic banking is based on the principles laid down in the Shariah. The two main pillars of Islamic banking are profit sharing and taking or giving no interest. The process is very simple that a person deposits his/her money in an Islamic bank and the bank in turn gives an assurance of returning the money when required.Advertising We will write a custom assessment sample on Islamic Banki ng specifically for you for only $16.05 $11/page Learn More The depositor can withdraw his/her money from the bank whenever required (within the working hours of the bank). But since nowadays there are ATMs all over, money can be withdrawn whenever required. In lieu of offering services to their clients, Islamic banks charge a certain amount as fee and if the bank considers it feasible the depositors may be offered gift (Hibah) as well. Following are the different organs of Islamic banking: Mudharabah or the profit sharing system. Mudharabah is basically a banking system that involves sharing of profit between two entities. In these two entities, one is the bank and the other may be either an investor or a borrower. There are two ways in which the transaction is carried out. In the first method, the bank acts as an entrepreneur and accepts investment from an investor. In the second method, the bank acts as a lender and lends money to a borrower. In both the cases, the ratio of profit sharing is fixed prior to the commencement of the banking relation or transaction. â€Å"Losses suffered shall be borne by the capital provider† (Banking Info p. 6). Following is a flow chart that depicts the Mudharabah or the profit sharing system followed by Islamic banks: Figure 1: Functioning of Islamic banks Source: www.bankinginfo.com Deferred payment sale system or Bai’ Bithaman Ajil (BBA). Under this system, the buyer of any goods sells the goods and then pays the seller the amount including a pre-decided profit margin. This amount may be paid either as a total amount or in instalments, whatever has been agreed upon. The actual practice is that an entity identifies the goods to be purchased and the bank is requested for a BBA (Bai’ Bithaman Ajil) or deferred payment sale.Advertising Looking for assessment on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The entity assures the bank to buy back the goods from the bank at an increased value. The bank in turn buys the goods and pays the seller. Now the bank is the owner of the goods. Reasonable profit (as agreed upon with the entity) is added to the cost of the goods and the goods are then sold to the entity. Now the entity is the owner of those goods and pays the bank in instalments within a stipulated time frame. Following is a flow chart of the deferred payment sale system followed by Islamic banks: Figure 2: Deferred payment sale system Source: www.bankinginfo.com Murabahah or the cost plus system. We have seen that in BBA, the price at which the bank sells the goods to the entity is inclusive of a mutually pre-decided profit margin. But according to the Murabahah system, the seller (bank) has to make the buyer aware of the actual cost of the goods and the profit added to the cost. This has to be done at the time of making the agreement. Musyarakah or the joint venture system. The Musyarakah system deals with the partnerships or joint ventures. Joint ventures are done in order to make profit but there are times when the joint venture has to face losses. In joint ventures, the parties involved invest in some proportion. The profits in a joint venture need not be shared according to this proportion but the profit sharing proportion can be different and pre-decided. On the contrary, in case of losses, the losses have to borne by the parties involves according to the proportion of their investments. Ijarah Thumma Bai’ or hire purchase system. The Ijarah Thumma Bai’ system usually refers to consumer goods financing, vehicles more commonly. This system involves two different contracts; Ijarah and Bai’. The Ijarah contract is for leasing and renting and the Bai’ contract is for purchasing. Following is a flow chart that depicts the system of Ijarah Thumma Bai’: Figure 3: Ijarah Thumma Bai’ system Source: www.bankinginfo.co m Wakalah or the power of attorney system. The Wakalah system refers to an agency of any product or service in which the agency charges a pre-decided fee for the services being rendered. The agency acts as an agent of the principal party for performing explicit jobs. Qard or interest free loan. The Qard system refers to the loan given by any lender for a specific duration to the borrower without any interest being charged. The borrower has to repay the loan amount within the specified time frame. Even though there is no interest levied in this kind of ending, the borrower can pay to the lender any amount of his/her will but there is no compulsion. Hibah or the gift system. In Hibah system, any entity that has been benefitted from another person or a body may pay to that person or body any amount as a token of gratitude. The following table depicts the principles followed by some of the major countries where Islamic banks function: Country Category Profit and loss sharing syste m Fees or charge based system Fees services system Ancillary system Bahrain Musharaka Morabaha Commission Service charges Qard Hassan Bangladesh Al-Mudaraba Musharaka Bai-Mua’zzal Bai-salam Hire-purchase Ijara Murabaha Commission Service charges Qurd-e-Hasana wadiah Iran Civil partnership Legal partnership Direct investment Modorabah Mozaarah mosaqat Forward delivery Transaction Investment sales Jo’alah Debt trading Hire-purchase Qard-al-Asanah Jordan Mudaraba musharaka Morabaha Commission Service charges Al-qird Al-hassan Wadiah Kuwait Mudaraba Musharaka Morabaha Commission Service charges Istisna leasing Qard-Hassan Malaysia Al-Mudharabah Al-Musyarakah Al-Murabahah Bai-Bithaman Ajil Bai Al-Dayn Al-Ijarah Al-Ijarah Thumma Al-Bai Al-Wakalah Al-Kafalah Al-Hiwalah Al-Ujr Al-Qardhul Hasan Ar-Rahn Al-Wadiah Yad dhamanah Pakistan Mushrika Equity participation and purchase of share Participation term certificate (PTC) Modarabah certificate Rent sharing Mark- up purchase of trade bills Buy-back arrangement Leasing Hire-Purchase Development charges Loan with service charges Qard-e-Hasna Sudan Mudaraba Musharaka Morabaha Ijara Commission Service charges Qard Hassan Tunisia Mudaraba Musharaka Morabaha Taajir Commission Instalment sales Interest free Turkey Mudaraba Musharaka Morabaha Ijara Irara Wa-Iktina Commission Service charges Interest free trust UAE Mudaraba Musharaka Morabahat Service charges Qard Hassan Table 3: Islamic banking principles in different countries Source: as cited at http://islamiccenter.kau.edu.sa Legal and illegal banking practices based in islamic banking Except Sudan, Iran and Malaysia, there are no other countries where Islamic banks have legal cover. â€Å"In general, legislative needs for Islamic banking can be minimized by legislating the Shariah principles and the Shariah restrictions for contracts while leaving practical details for adjudication by the courts† (Tahir p. 8). Tahir further suggests that, â€Å"Registration requirements associated with agreements need to be simplified as the associated costs may impede lease financing. There is also need for special legal cover in order to facilitate and implement Musharakah (partnership) agreements by Islamic banks† (Tahir p. 8). Since the Islamic banking system is governed by the Shariah, the framework is different from the non-Islamic or conventional banks. Since the Islamic banks follow the no-interest policy, the documentation of financial instruments is totally different and as such they cannot be compatible with the non-Islamic banks. The need of the hour is that the governments of countries where Islamic banks are functioning should come out with some legal cover for the Islamic banks in order to make the Islamic banks more sustainable. Only then the Islamic banks will be able to function worldwide. But as a matter of fact, Islamic banks have improved their standards during the years. Anees Sultan claim s that, â€Å"Investments into some Islamic funds are not always 100 percent ‘Islamic’. Some of the terms under which some funds operate state that interest income shall constitute less than a certain percentage of total income, but some interest income is accepted† (Sultan par. 6). One might wonder that if interest is prohibited in Islam, how such instances are occurring. The board members of the Shariah are paid compensation for favouring judgements (Sultan par. 7). â€Å"Also consider the word Sukuk – now used to describe Islamic structured bonds. The word itself has nothing Islamic or religious about it; it is simply Arabic for a promissory note. Likewise, both Murabah and Takaful are just Arabic nouns for various commercial or social activities† (Sultan par. 7). Another action of the Islamic banks that raise eyebrows is their dealings with the commercial or conventional banks. There are some conventional banks that have started Islamic banking branches and in these branches, conventional banking products as well as Islamic banking products are being offered. Now how can one believe that the transactions in such banks would be interest-free? Comparison of islamic banking and conventional banking In some countries, due to the cosmopolitan nature, there are Islamic banks as well conventional banks. These banks perform all the financial transactions as may be expected from a financial institution. The Islamic Financial Institutions support the world economy by providing all the required services. The basic concept of Islamic banks and conventional banks is the same. Both are engaged in providing their customers banking products such as saving and current accounts, fund transfer, safety lockers, international trading, etc. Islamic banks don’t have any objection in performing such tasks because they are not against the Shariah. The main difference between Islamic banks and conventional banks exists in the manner in which funds are mobilized in Islamic banks and conventional banks. By mobilizing funds it is meant the investments and loan disbursements. For the purpose of comparison of conventional banking system and Islamic banking system, we have considered the following two banks: Faysal Bank as the conventional bank and Meezan Bank as the Islamic bank. Faysal Bank First let us know about Faysal Bank. â€Å"Faysal Bank Limited was incorporated in Pakistan on October 3, 1994, as a public limited company under the Companies Ordinance, 1984† (Faysal Bank). The bank is presently engaged in commercial activities and banking products such as deposit accounts, vehicle loans, loans on property, etc. Vision of Faysal Bank: â€Å"Excellence in all that we do† (Faysal Bank). Mission of Faysal Bank: â€Å"Achieve leadership in providing financial services in chosen markets through innovation† (Faysal Bank). Meezan Bank Talking of Meezan Bank, â€Å"Meezan bank Limited, a publicly listed company, is the first and largest Islamic Bank in Pakistan and one of the fastest growing banks in the history of banking sector of the country† (Meezan Bank). Vision of Meezan Bank: â€Å"Establish Islamic banking as banking of first choice to facilitate the implementation of an equitable economic system, providing a strong foundation for establishing a fair and just society for mankind† (Meezan Bank). Mission of Meezan Bank: â€Å"To be a premier Islamic bank, offering a one-stop for innovative value-added products and services to our customers within the bounds of Shariah, while optimizing the stakeholders’ value through an organizational culture† (Meezan Bank). In order to compare the products of both the banks, the following table will be helpful: Meezan Bank Faysal Bank Current account Current account Riba free current account Faysal Sahulat Savings account Savings account Riba free – Rupee saving account Faysal savings acco unt Riba free – dollar saving account FCY saving plus Meezan Bachat account Faysal Mahfooz Sarmaya Meezan Business Plus account Faysal Premium Karobari Munafa account Faysal Moavin Labbaik Saving Aasaan Faysal Market link Rozana munafa plus account Consumer financing Consumer financing Car Ijarah – Islamic Auto finance Faysal Car Finance Easy home – Islamic Housing finance Faysal Home finance Faysal personal finance Faysal Khushaal Kisaan scheme Table 4: Banking instruments of Meezan Bank and Faysal Bank Source: www.scribd.com Now we shall study these different instruments separately. Current accounts: This kind of account is generally for business owners. They may deposit or withdraw amount as many times as they want. But a certain charge is levied on the transactions. Let us now compare the current accounts of the two banks in question: Meezan Bank – Riba free Faysal Bank – Faysal Sahulat Thi s account is preferred by people who want to do banking according to the Shariah and at the same time want to have easy access to their accounts. The minimum balance required for this account is Rs.10000 and has no limit on the number of transactions. The main feature include: Free online access or at any Meezan Bank branch No limit on the number of transactions If a customer maintains an average monthly balance of Rs.1, 000,000, he/she can get free cheque books, pay orders and debit card. The minimum balance in this account is Rs.5000 and as in Meezan Bank, there is no limit to the number of transactions. The main features of this account are: Free online access or at any Faysal Bank branch No limit on the number of transactions If a customer maintains an average monthly balance of Rs.500, 000, he/she can get free cheque books, pay orders and debit card. It may be noted that most of the conditions are same in the current account of both the banks except the minimum balance. Table 5: Current account features of Meezan Bank and Faysal Bank Savings account: Unlike current account, saving account can be opened by individuals and not business organizations. Saving bank offers some interest or profit to the account holder. This kind of account is the most preferred one by people of all genders and age groups because of its simplicity and easy access. Let us now understand the various features of different kinds of saving accounts being offered by the two banks: Meezan Bank Faysal Bank Rupee saving account – Riba free: Following are the main features : Minimum balance is Rs.10,000 Account opened as per Musharakah system Profit calculated and paid on monthly basis An average monthly balance of Rs.10, 000 is a must to avail the benefits. Faysal savings account: Following are the main features: Minimum balance is Rs. 10, 000 Profit calculated on monthly basis but paid twice a year. Meezan Bachat account – Riba free: Following are t he salient features: Based on Mudarabah system High monthly returns Savings may be withdrawn whenever required The least balance required is Rs. 25, 000 Profit is credited on once in a month. Profit given even if the balance is below the balance requirements. Maximum balance limit is Rs.1,000,000 Rozana Munafa Plus: Following are the salient features: Interest calculated on the basis of balance at the end of the day Interest credited on a monthly basis Minimum balance is Rs.100, 000 for individuals Rs.500, 000 for businesses. It may be noted that there are various kinds of saving accounts with both the banks. The reason is that since saving account is a very popular form of accounting among the people and some profit is given to the customers on maintaining credit balance. The income from Meezan Bank saving account is totally Halaal whereas in the case of Faysal Bank it is Haraam as per Shariah. Table 6: Saving account features of Meezan Bank and Faysal Bank Consumer Fin ancing: As the name suggests this kind of financing is for customers who want to purchase some consumer goods. Such goods may include vehicle loan, credit cards, etc. Let us now understand the salient features of this kind of banking instrument in both the banks: Meezan Bank Faysal Bank The salient features include: The amount of financing is on the higher side If the loan is against property (mortgage), then finance is provided to the maximum possible Customers are allowed to make prepayments Nominal processing fees As the instalments are paid, the rental amount keeps on decreasing The salient features include: The limit of financing is up to 80% Financing tenure may be 20 years The processing of loan applications is fast Nominal processing fees The loan may be further enhanced It may be noted that while dealing with loans, Meezan Bank adheres to the guidelines of Shariah whereas, Faysal Bank performs the transactions in a typical conventional banking manner. It is not eworthy that while in Meezan Bank the financing is done on rental basis Faysal Bank charges interest on the landings. Also, Meezan Bank offers only vehicle finance and home finance whereas Faysal Bank offers vehicle finance, home finance, agriculture finance and personal finance. Table 7: Salient features of saving account of Meezan Bank and Faysal Bank The table below will further make us understand the differences between conventional banks and Islamic banks: Conventional banks Islamic banks Conventional banks have been the brain child of human beings and as such their principles and method of working is also manmade. Islamic banks are based on the guidelines of the Sharia and as such there is no interference of human beings in the basic principles of working. In conventional banking the interest rates on investments and loans is always pre-decided and the investor or borrower is aware of the outcome. Sharia law doesn’t allow taking or giving interest. The benefit s on deposits are based on the profit earned from the investment. The lender and borrower are both partners in the venture and have a mutual understanding and bonding of sharing the risks involved. The conventional banks may go to any extent in order to make more profit out of their investments. There are no restrictions on the method they adopt. Even though Islamic banks also try to get maximum benefit or profit out of their investment, they cannot adopt any means that they want. Their actions are governed by the Sharia law and they have to abide by them. Conventional banks do not transact in Zakaat. Islamic banks are service oriented and following the Sharia law, they help people by collecting Zakaat and disbursing the same to the needy persons. Most of the Islamic banks have opened Zakaat collection centres for the trouble-free depositing of Zakaat by people. Islamic banks pay their Zakaat as well. Conventional banks’ main business is earning from the loans to borrow ers. These banks charge compound interest on the loans to borrowers. Islamic banks also give out loans but as per Sharia law, they don’t charge any interest on the loan amount. Instead, they become partners in the business of the borrower. This is the reason that Islamic bank professionals make a viability study of the business that they propose to finance. Loan defaulters are dealt with very severely in conventional banking system. The bank has the right to charge penalty on the overdue amount. They can even charge compound interest on the overdue interest amount. Islamic banks do not have the right to charge any interest from loan defaulters. This is because of the Sharia guidelines. But they can charge some sort of penalty. Such penalties are not kept by the Islamic banks as their profit. This amount is given away as charity to the needy. It is possible at times those Islamic banks may give some discount in case of early payment. In conventional banking, not much impor tance is given to growth and equity. In Islamic banks people’s stake is considered to a great extent. So here the main criterion is to guarantee growth along with equity. There are times when even banks fall short of funds. This happens when some deposits are withdrawn by customers on maturity or even before that. In such circumstances, it is easier for the conventional banks to borrow funds from other banks on interest basis. In circumstances of shortage of funds, Islamic banks do not have the liberty to borrow from any conventional bank. they can borrow money only from Islamic banks and that too as per the guidelines of Sharia law. Since the rate of interest for loans and advances and deposits is always predetermined, the conventional banks do not take much interest in the project that has been financed. The project report is immaterial for them. On the contrary, since Islamic banks become partners with their customers, they thoroughly check the project report and study the viability of the project before lending money. Even after lending the money, they keep a close watch on the performance of the project. In conventional banks the credit-worthiness of customers is very important. On the contrary, Islamic banks give more importance to the projects and their feasibility. Customers’ credit-worthiness is also important but not to the extent of project viability. In conventional banks, the banks are either creditors or debtors with respect to their customers. This is the only relation that they have with their customers. In Islamic banks, customers are not simply creditors or debtors. They are actually treated as partners. Table 8: Salient features of conventional banks and Islamic banks Source: www.scribd.com In addition to the aforementioned points, the statement of the financial positions of Meezan Bank and Faysal Bank are at Appendices 1 and 2 respectively. Instruments of islamic banking Deposits Islamic banks as well as conventiona l banks accept deposits but the difference is in the manner of return on the deposits. While in conventional banking system, the return on deposits is predetermined, in Islamic banks it is according to the Musharaka and/or Mudaraba system. The return on deposits in Islamic banking system is not fixed. Another difference between these two banking systems is that while in conventional banking system the risk is borne by the bank, in Islamic banking system, the risk and reward are both shared by the bank and the investor. In conventional banking, since the return on deposits is predetermined, any excess benefit out of the deposits is for the bank. However, there is a similarity between the two kinds of banking system that for long term deposits the return is higher and for short term deposits, the return is lower. Investments Financing Both the conventional and Islamic banking systems offer loans or credits to business organizations. This is done in order to gain some profit out of th e credit facility being provided. But there is a difference in the terms and conditions of financing in both these kinds of banking systems. Conventional banks disburse loans at a predetermined rate of interest but since the interest is involved, the Islamic banks cannot do so. But it’s not that the Islamic banks don’t offer loans. They do offer loans but then there is no interest factor; the loans are interest free (Qarz-e-Hasna). In Islamic banks loans are given under the profit sharing system. Overdrafts and Credit cards In conventional banking system, the customers are allowed to withdraw cash from their overdraft account or the credit cards. Credit cards may be used either for purchasing goods or for withdrawing cash. The conventional banks charge interest on the amount used under these two schemes. On the other hand, in Islamic banks there is no credit card. The customers of Islamic banks are offered debit cards whereby they can purchase goods or withdraw cash pr ovided there is sufficient credit balance in their accounts. However, Islamic banks do offer credit but that is under the Murabaha system wherein although there is no interest factor but profit margin is added to the amount to be returned. In case of default by the customers to repay the credit availed, conventional banks charge extra amount (penalty) whereas in Islamic banks this is not the case. The defaulters have to make another agreement with the conventional banks for the repayment of the overdue amount with penalty but in Islamic banks this is not possible. In Islamic banks, even if there is any defaulter, the bank cannot charge any excess amount other than the original amount that was utilized by the customer. The only thing that Islamic banks can do in such cases is to blacklist the defaulter and abstain from lending any further credit facility to that particular customer. Leasing Leasing is a banking instrument wherein the Lessee is allowed to use the facility or product f or a predetermined rent. The ownership in such cases may or may not be transferred to the lessee. In Islamic banking system, this is done under the Ijara system. Under Ijara, the ownership is not transferred to the lessee unless the lease term is completed. In Islamic banking system there are certain rules pertaining to Ijara that the banks have to abide by. Firstly, the rent is applicable only after the lessee gets custody of the asset. Secondly, in case of default in rent payment, the banks cannot charge any extra rent but a penalty may be imposed. This penalty cannot be kept by the banks as their profit but it has to be given to some charity. Thirdly, in case there is any major repair required or is going on the banks cannot claim the rent. And lastly, in case of lost of asset, the Islamic banks cannot claim the remaining instalments. It means that the Islamic banks have to bear the ownership risks. Agriculture loans Agriculture loan is of two kinds; short-term and long-term. Sho rt term agriculture loans are required by farmers in order to purchase seeds, fertilizers, etc. The long-term agriculture loans are meant for expansion, purchase of irrigation equipments, etc. It is a usual practice of farmers to return the loan amount once their crops are sold. The conventional banks charge some predetermined interest on the extended loan facility. In Islamic banks, there are different systems for different purposes. For purchasing seeds, fertilizers, banks offer credit to farmers in return of the crops. This is called the Bai Salam system wherein the farmers have to give the agreed quantity of crops to the banks in lieu of the credit facility availed by them. The Murabaha system is for extending credit facility for the purchase of irrigation equipments. For expansion or purchase of further land, the Musharaka and Mudaraba systems come into effect. But in order to avail all these facilities from an Islamic bank, the farmers have to convince the bankers on the viabi lity and profitability of their farming venture. Housing finance Housing finance is the best form of financing for any financial institution whether it is a conventional bank or an Islamic bank. But as mentioned earlier, there is a difference in the terms and conditions of financing in both the banking systems. In conventional banking system, housing loan is offered on a predetermined interest rate whereas in Islamic banks the housing finance is offered according to the reducing Musharaka system. Under the reducing Musharaka system, the house to be financed is purchased by the bank and the customer as joint owners. The bank then offers its share in the property to the customer for a predetermined rent. The share amount of the bank is segmented into small amounts and the customer has to pay this amount along with the rent to the bank as instalments. As the customer keeps on paying the instalments, his/her share or stake in the house keeps on increasing while that of the bank keeps on decreasing. When the last instalment is also cleared by the customer, the bank has no claim over the house and the ownership of the house is transferred to the customer. The good thing (beneficial for the customer) in house financing according to the reducing Musharaka system is that if by chance there is any devaluation of the property, the customer doesn’t have to bear the brunt alone. The bank will also share the loss according to its share in investment. Advantages and disadvantages of islamic banking The following table depicts the advantages and disadvantages of Islamic banking: Advantages Disadvantages The most important advantage in Islamic banking is that there is risk sharing between the bank and the customer. Businesses dealing in products and/or services that are considered Haram in Islam are not dealt with. More importance is given to productivity instead of credit worthiness. Since interest is also Haram, Islamic banks cannot lend money to other banks. T hey cannot also borrow money from other banks because it involves interest. No interest is charged on loans. Since no penalty is levied on defaulters, the banks are at a loss. Deals with only those businesses that are within the permissible limits of the Shariah law. Exporters have to suffer because in Islamic banks, forward booking of currency is not allowed and in case of devaluation of currency, the exporters end up in loss. Since the loans and advances are done on a profit sharing basis, there are a number of ways in which the agreement can be made. So there is no set standard of format. On the Islamic banks’ part, they have to be satisfied with a very nominal amount on bills discounted by them. The banking transactions in Islamic banks are governed by moral standards that have been laid down by the Shariah. Islamic banks always try to get better deals for their customers’ investment because they want to give them better profit on their investments so th at more customers are attracted towards the banks. In this competition banks try to outperform each other and the ultimate beneficiary is the customer. Table 9: Advantages and disadvantages of Islamic banking Economic crisis and islamic banking The economic crisis has turned out to be disastrous for the financial sector. Banks have started to abstain from lending. This has increased the borrowing rate. â€Å"The value of bonds issued worldwide against mortgages, for example, crashed from $1.9 billion for the year to $500 million in the year 2008†. (Hassan par. 3). The third world countries were the most affected since they had drawn inspiration from the idea of free market. This situation was mostly limited to the conventional banking sector. The Islamic banking sector was not affected much. The reason was that Islamic banks function on a partnership basis with their customers. â€Å"The Islamic economic and financial system is based on a set of values, ideals and morals , such as honesty, credibility, transparency, clear evidence, facilitation, co-operation, complementarities and solidarity† (Hassan p. 4). Such moral conducts provide protection, constancy and protection to the parties involved in the transactions. Also, as per the Shariah, taking or giving interest is not allowed. Also businesses such as gambling are prohibited. All such factors have made the Islamic banking system a reliable source for making financial transactions. â€Å"Beginning in 1998 and 1999, the bank failure rate began to climb again, with a failure rate accelerating in 2008, 2009, and 2012. In 2008, 25 banks were closed. This number jumped to 140 bank failures in 2009† (Amran p. 8). The following two tables will further make us understand the effect of the financial crisis on Islamic banks and conventional banks: Ratios Before crisis During crisis Before crisis During crisis Before crisis During crisis Capital Adequacy Ratio (CAR) Return on Average Ass ets (ROAA) Return on Average Equity (ROAE) Mean 21.075 17.91667 2.996 3.0875 25.296 14.965 t-test 2.3563 -0.073 5.399 p-value 0.01903 0.4715 0.000108 t critical (one tail) 1.7958 1.7958 1.7958 Liquid Assets / Total Assets (LA/TA) Cost to Income Ratio (CTI) Equity / Total Assets (E/TA) Mean 26.7 22.29 36.616 38.9 16.35 13.79 t-test 1.3172 -1.00125 2.6883 p-value 0.107265 0.1691 0.01054 t critical (one tail) 1.7958 1.7958 1.7958 Table 10: Capital Adequacy Ratio (CAR) of Islamic banks before and during the financial crisis Source: www.businessperspectives.org Ratios Before crisis During crisis Before crisis During crisis Before crisis During crisis Capital Adequacy Ratio (CAR) Return on Average Assets (ROAA) Return on Average Equity (ROAE) Mean 15.275 15.325 2.348 1.169 17.77 7.2025 t-test -0.0529 3.648 2.619 p-value 0.479 0.001915 0.0119 t critical (one tail) 1.7958 1.7958 1.7958 Liquid Assets / Total Assets (LA/ TA) Cost to Income Ratio (CTI) Equity / Total Assets (E/TA) Mean 24.7 20.08 34.30 35.876 12.17 12.46 t-test 2.256 -0.095 -0.3505 p-value 0.022 0.180 0.366 t critical (one tail) 1.7958 1.7958 1.7958 Table 11: Capital Adequacy Ratio (CAR) of conventional banks before and during the financial crisis Source: www.businessperspectives.org From the aforementioned tables it may be concluded that the Islamic banks performed better than their conventional counterparts before as well as after the crisis. After analyzing the different ratios it makes us understand that the Islamic banks had greater profitability as compared to the conventional banks. Islamic banking is the solution to economic problems If all the banks follow the guidelines of the Shariah, financial crisis can never happen. For example if the conventional banking sector adopts the risk-sharing system of the Islamic banks, there would never be any problem because then the banks will take great care while investing the funds. Likewise the Islamic banks, the conventional banks will also do proper survey before investing anywhere. By investing also means lending money to borrowers. Before lending money to such borrowers, the banks will do a thorough viability study and only after being convinced of the profitability they will offer the financing of the project. â€Å"Islamic banks act as venture capital firms collecting people’s wealth and investing it in the economy, then distributing the profits amongst depositors. Islamic banks act as investment partners for those who need money to do business†. (Hassan p. 4). â€Å"The collapse of leading Wall Street Institutions, notably Lehman Brothers, should encourage economists worldwide to focus on Islamic banking and finance as an alternative model† (Amran p. 9). The success of Islamic banks can be understood from the fact that the number of such banks is increasing incessantly and the amount they are dealing in is touch ing the skies. â€Å"Furthermore, Islamic banking provides a viable alternative to conventional banking and is less cycle prone. The spread of Islamic finance into western markets demonstrates that it is now being treated seriously by regulators and finance ministers† (Amran p. 12). The growth of Islamic banks can be gauged by Thomas Grose’s statement that, â€Å"London now is home to 25 companies offering some form of Islamic financing. BLME is the largest of five wholly Sharia-compliant banks operating in Britain. The first, the Islamic Bank of Britain, opened in 2004, and the number is expected to double within five years† (Grose par. 4). The Islamic banking has become popular because people have started understanding that only Islamic banking system can save them from the severe financial crisis in future. Mr. Adnan Ahmed Yousi, who is the CEO of Albaraka Group, Bahrain, claimed that â€Å"Islamic banks do not rely on bonds or stocks, and are not involved i n the buying and selling of debt unlike most conventional banksIslamic banking is distinguished by the fact that it is prohibited from buying debts under Islamic Sharia law† (as cited by Al-Hamzani par. 3). This is the reason that Islamic banks are unaffected to a great extent by the global economic crisis. So it is advisable for the conventional banks to follow the banking systems of Islamic banks and avoid further and future risks. Network of islamic banks around the world Following is a consolidated list of the main Islamic banks in different countries around the world: Country Islamic bank name Albania Arab Albanian Islamic Bank, Tirana Algeria Banque Albaraka D’Algerie, Algiers Australia Muslim Community Credit Union (MCCU) Muslim Community Co-operative (MCCA) Bahamas Akida Islamic Bank International Ltd. Bank Al Taqwa Ltd. Dar Al Mal Al Islami Trust, Nassau Islamic Investment Company of the Gulf Ltd., Nassau Istishara Consulting Trust, Bahamas Massraf F aysal Islamic Bank Trust, Bahamas Ltd. Bahrain ABC Investment Services Co EC Al Amin Co. For Securities and Investment Funds Albaraka Islamic Investment Bank Arab Islamic Bank E.C. Bahrain Islamic Bank Bsc. Bahrain Institute of Banking Finance Bank Melli Iran Chase Manhattan Bank N.A. Citi Islamic Investment Bank (Citicorp) Dallah Albaraka (Europe) Ltd. Dallah Albaraka (Ireland) Ltd. Faysal Investment Bank of Bahrain Gulf International Bank BSC Islamic Investment Company ABC Islamic Bank ABN Amro Bank Deutsche Bank Rep office Investors Bank TAIB Bank of Bahrain Turk Gulf Merchant Bank Bahrain Monetary Agency Shamil Bank Khaleej Investment Company First Islamic Investment Bank Bangladesh Albaraka Bangladesh Ltd., Dhaka Islamic Bank Bangladesh Ltd., Dhaka Faisal Islamic Bank British Virgin Islands Ibn Khaldoun International Equity Fund Ltd. Brunei Islamic Bank of Brunei Berhad Islamic Development Bank of Brunei Berhad Tabung Amanah Islam Brunei Canada Islamic Co-operat ive Housing Corporation Ltd. Toronto Cayman Islands Ibn Majid Emerging Marketing Fund Al Tawfeek Co. For Investment Funds Ltd. Denmark Faisal Finance (Denmark) A/S Djibouti Bank Albaraka Djibouti Egypt Alwatany Bank of Egypt, Cairo Egyptian Company for Business and Trade S.A.E. Egyptian Saudi Finance Bank, Cairo Gulf Company for Financial Investment Faisal Islamic Bank of Egypt, Cairo Islamic Bank International for Investment and Development, Cairo Islamic Investment and Development Co., Cairo National Bank for Development, Cairo France Algerian Saudi Leasing Holding Co. Societe General Capital Guidance BNP Paribas Gambia Arab Gambian Islamic Bank Germany Bank Sepah, Iran Commerz Bank Deutche Bank Guinea Massraf Faisal Al Islami of Guinea, Conakry Banque Islamique de Guinee India Al Ameen Islamic Financial Investment Corp. (India) Ltd., Karnataka Bank Muscat International (SOAG) Al-Falah Investment Ltd. Iran Bank Keshavarzi (Agriculture Bank) Tehran Bank Maskan Iran (Housing Bank), Tehran Bank Mellat, Tehran Bank Melli Iran, Tehran Bank Saderat Va Maadan, Tehran Bank Sepah, Tehran Bank Tejarat, Tehran Iraq Iraqi Islamic Bank for Investment and Development Italy Bank Sepah, Iran Ivory Coast International Trading Co. of Africa Jordan Jordan Islamic Bank Jordan Islamic Bank for Finance and Investment, Amman Kuwait Gulf Investment Corporation The International Investment Group The International Investor, Safat Kuwait Finance House, Safat Kuwait Investment Co-Dar Al-Isethmar Securities House Lebanon Gulf International Bank, Bahrain Al Barakah Bank Bank of Beirut Luxembourg Faisal Finance (Luxembourg) S.A. Faisal Holding, Luxembourg Takafol S.A. Islamic Finance House Universal Holding S.A. Malaysia Adil Islamic Growth Fund, Labuan Arab Malaysian Merchant Bank Berhad, Kuala Lumpur Bank Bumiputra Malaysia Berhad, Kuala Lumpur Bank Islam Malaysia Berhad, Kuala Lumpur Bank Kerjasama Rakyat Malaysia Berhad, Kuala Lumpur Dallah Al Bara ka (Malaysia) Holding Sdn Bhd Lembaga Urusan Dan Tabung Haji (Fund), Kuala Lumpur Multipurpose Bank Berhad, Kuala Lumpur United Malayan Banking Corp. Berhad, Kuala Lumpur Bank Muamalat Berhad, Malaysia Securities Commission Labuan Offshore Financial Services Authority (LOFSA) Islamic Banking Takaful Dept., Bank Negara Malaysia Mauritania Banque Alabaraka Mauritaninne Islamique Morocco Faisal Finance Maroc S.A. Faisal Finance (Netherlands) B.V. Faisal Finance (Netherlands Antilles) N.V. Niger Bank Islamique Du Niger, Niamey Nigeria Habib Nigeria Bank Ltd. Ahmed Zakari Co. Oman Bank Muscat International Bank Sedarat IUran, Muscat Oman Arab Bank Pakistan Al Faysal Investment Bank Ltd. Islamabad Al Towfeek Investment Bank Ltd. Lahore Faysal Bank Ltd. National Investment Trust Ltd., Karachi Shamil Bank Meezan Bank Limited Palestine Arab Islamic Bank Arab Islamic International Bank (AIIB) Plc Cairo Amman Bank Oalestine International Bank The Palestine Islamic Bank Qatar Islamic Investment Company of the Gulf Ltd., Sharjah Qatar International Islamic Bank, Doha Qatar Islamic Bank SAQ, Doha Russia BADR Bank Saudi Arabia Albaraka Investment and Development Co., Jeddah Al Rajhi Banking and Investment Corp., Riyadh Arab Leasing International Finance (ALIF) Ltd. Faysal Islamic Bank of Bahrain E.C., Dammam Islamic Development Bank, Jeddah National Commercial Bank Ltd., Jeddah Riyad Bank Saudi American Bank, Jeddah Saudi Holland Bank Bank Al Jazira Senegal Banque Islamique Du Senegal South Africa Albaraka Bank Ltd., Durban Sri Lanka Amana Islamic Bank Amana Takaful Limited Sudan Al Baraka Al Sudani, Khartoum Al Shamal Islamic Bank Al Tadamon Islamic Bank, Khartoum Animal Resources Bank El Gharb Islamic Bank Faisal Islamic Bank of Sudan, Khartoum Islamic Bank Western Sudan, Khartoum Islamic Co-operative Development Bank, Khartoum Sudanese Islamic Bank Switzerland Cupola Asset Management SA, Geneva Dar Al Maal Al Islami Trust, Geneva Faisal Fin ance (Switzerland) SA, Geneva Pan Islamic Consultancy Services Istishara SA, Geneva Pictet Cie Tunisia Beit Ettamwil Al Tunisi Al Saudi, Tunis B.E.S.T. Re-Insurance Turkey Albarakah Turkish Finance House, Istanbul Emin Sigorts A.S. Faisal Finance Institution, Istanbul Faisal Islamic Bank of Kibris Ltd., Turkey Ihlas Finance House Kuwait-Turket Evkaf Finance House Asya Finans Kurumu A.S. United Arab Emirates Abu Dhabi Islamic Bank Bank Muscat International (SOAG) Dubai Islamic Bank, Dubai Gulf International Bank, Bahrain Islamic Investment Company of the Gulf Ltd., Abu Dhabi Islamic Investment Company of the Gulf Ltd., Sharjah National Bank of Sharjah HSBC, Dubai National Bank of Dubai United Kingdom Albaraka International Ltd., London Albaraka Investment Co. Ltd., London Al Rajhi Investment Corporation, London Al Safa Investment Fund Bank Sepah, Iran Dallah Al Baraka (UK) Ltd., London Takafol (UK) Ltd., London Barclays Capitol HSBC Amanah Finance ANCIB Islamic Asset Managem ent, Arab Banking Corp. Ireland Al Meezan Commodity Fund Plc., Dublin The Islamic Investment Company, St. Helier MFAI (Jersey) Limited United States of America Abrar Investments, Inc., Stamford CT Al-Baraka Bancorp Inc., Chicago Al-Madina Realty Inc., Englewood NJ Al-Manzil Islamic Financial Services Amana Mutual Funds Trust, State St. Bellingham WA Ameen Housing Co-operative, San Francisco American Finance House Bank Sepah, Iran BMI Finance Investment Group, New Jersey Dow Jones Islamic Index Fund of the Allied Asset Advisors Funds Failaka Investments Inc., Chicago IL Fuloos Incorporated, Toledo OH Hudson Investors Fund Inc., Clifton NJ MSI Finance Corporation Inc., Houston TX Samad Group Inc., Dayton OH Shared Equities Homes, Indianapolis IN HSBC, USA MEF Money, USA Islamic Credit Union of Minnesota, (ICUM) United Mortgage Yemen Islamic Bank of Yemen for Finance and Investment, Sana Saba Islamic Bank, Sana Faisal Islamic Bank Yemen Islamic Bank, Sana Yemen National Investme nt Co., Sana Table 12: Islamic Banks in various nations Source: www.listofbanksin.com Challenges and problems being faced by islamic banks Majority of the Islamic banks are located in Muslim countries. The non-Muslim world is not much aware about Islamic banks and their principles. The Islamic banks are bound by the guidelines of the Shariah law. As such, they have to work according to the Musharaka and Mudaraba systems. It has been observed that the Islamic banks face problems in their functions and the bankers owe these problems to the following reasons: There is a shortage of serious and genuine people who want to do business. People take loans from Islamic banks for the sake of it. Due to the lenient rules of repayment, people approach such banks for loans and advances. There are numerous instances wherein people have taken loan from Islamic banks and haven’t returned because they are aware of the loop holes that no penalty can be levied on them. Within the bank, there is a shortfall of well trained professionals who are well versed with the Islamic banking system. Each one of us wants to do the best in life and so do the banking professionals. Even though Islamic banks are doing well, their business is not at par with the volume of business handled by the conventional banks. And since size does matters, the fresh banking professionals prefer the conventional banks rather than the Islamic banks. They are worried about their profession and future promotions. Secondly, Islamic banking needs professionals who are well aware of the nature of business in their banks. There is a dearth of such professionals. Young graduates do not see any future in the Islamic banking sector. It needs a lot of moral and religious understanding on the part of the employees of Islamic banks. It is very ironic to state that due to the vast advancements in science and technology, young students have ample opportunities that are more lucrative and challenging than being an Islamic bank professional. The professionals of Islamic banks are required to have a greater perspective of the banking industry; Islamic in particular, and at the same time, they have to have a proper understanding of their customers and their projects. There are only limited banking instruments with the Islamic banking professionals that they can offer to the customers. It is a human tendency to go to shops where there is a large variety of things that they want to purchase. Similarly, when a person wants to do banking, he/she will like to have more options to choose from. According to the Shariah guidelines, forward booking of currency is not allowed. So there is always a risk of currency fluctuation. Under such circumstances, the exporters are at a loss and the foreign importers are the beneficiaries. Suppose for example an exporter takes order for a particular item at $100 per piece. During the time of finalization of the order, the currency exchange rate is say $1 = Rs.50. It means that the exporter has agreed on a rate of Rs.5000 per piece. But due to the currency rate fluctuation, the rate may come down to say $1= Rs.45. It means that the exporter has to sell goods at a loss of Rs.500 per piece. This issue sometimes forces business people to opt for the conventional banking system. It’s a normal practice by exporters that as soon as their goods are loaded, they approach their respective banks for bill discounting. In conventional banking, bill discounting is preferred because the banks get good commission and sometimes interest as well on the amount discounted. On the contrary, Islamic banks are bound by the Shariah guidelines and though they are allowed to do bill discounting, they cannot charge any interest and moreover, the charges are also very nominal. In spite of the fact that Islamic banking system has been prevalent for more than 35 years now, majority of the people are unaware of the basic principles of Islamic banking or what exactly I slamic banking is. If the Islamic banks want to prosper, it is very crucial for them to spread awareness among the people about Islamic banking. It is an added portfolio for the Islamic banks to teach each and every new customer about the principles of Islamic banking. Islamic banks are not fully established and are still in the learning and experiencing phase. It is a common practice in Islamic banks to use the short term deposits of their customers for long term financing. This is done because the banking professional are under the impression that certain short term deposits won’t be withdrawn, even on maturity. This belief of theirs sometimes backfires when some of these short term deposits are withdrawn. In such circumstances, the bank has funds problem and as per the banking culture, it has to borrow from some other bank for a couple of days. The banks those are ready to transfer funds don’t do it as a courtesy or a friendly gesture. They charge a certain amount o f interest. Here the problem arises for the Islamic banks since they are bound by the guidelines of the Shariah law and can neither pay interest nor take interest. As mentioned above, most of the Islamic banks do not have the variety of instruments that conventional banks have. Due to the advancement in technology and science, conventional banks have gone far ahead in bringing innovative products for their valued customers. Islamic banks, on the other hand, are banking on the same old banking instruments or products. Moreover, most of the Islamic banks do not have their own research and development department so that they may devise new products. This hampers the progress of Islamic banks to a great extent. In today’s world, advertisement is a must for any product’s success. But ironically, Islamic banks do not do much of advertising and avoid the media to a great extent. Actually, the world should know what Islamic banking is about and for this advertisement or the me dia are the best options. Recommendations It’s not impossible to have solutions for all the problems mentioned above. It’s just a little understanding and initiative that is required. It has to be accepted that the working conditions for Islamic banks will never be the same in Muslim and non-Muslim countries. It’s not that these problems are faced by all the Islamic banks. The Islamic banks in Muslim countries such as the Kingdom of Saudi Arabia, United Arab Emirates, Qatar, etc, are doing quite well. It’s only the newer ones in non-Muslim countries that are facing the major problems. Since the Islamic banks follow the values of Islam in their banking operations, they should also be humble and extend help to the new Islamic banks. At least they can provide feedback, experienced professionals etc. So that the newcomers are not stuck and may perform better and come up to the expectations of the principles of Islamic banking. It should be the endeavour of th e International Islamic Banking Organization, the Islamic Development Bank, and other Islamic banks governing agencies to put more efforts and professionals in the research and development field. I am sure experts on Islam religion must have been employed by such organizations but such experts should have a vast and broad mindset and identify new products for the masses. According to Dr. Salah Al-Shalhoub, head of the Centre of Banking Studies and Islamic Finance (CBSIF), the trend of Islamic banking is changing and â€Å"The Islamic banking system, which used to design products on purely Islamic basis, began to expand these products to meet requirements of customers who felt more secured about their investments, not only in terms of finance but also from the Shariah perspective† (as cited in Arab News par. 9). It’s true but more efforts are required. Like regarding the problem being faced by the Islamic banks due to the bill discounting and booking of foreign currency , the governing bodies can devise some way to overcome the problem. This way they will be able to attract more and genuine customers because as such Islamic banking system is an excellent one and people will prefer Islamic banking if their requirements are met. The Islamic banks, on their part, should hire more professional people who are experts in banks and have the knowledge of the principles of Islamic banking as well. Customer service is very important in any service organization. Customer service doesn’t only mean welcoming the customers and offering them a glass of cold water. The Islamic banking professional should go out of the way and explain to their customers what Islamic banking is all about and how they will be benefitted. The Islamic banks should rely on the media and should have a separate budget for advertisement. After all, this is a kind of business and businesses prosper due to advertisement. This way, two purposes will be served. Firstly, the advertisemen t will spread the awareness of Islamic banking and secondly the bank’s popularity will grow. People will come to know about the specialities of Islamic banking system and will automatically be attracted towards doing business with such banks. Even if initially the business people hesitate to come due to the strict guidelines regarding various products and instruments, at least the banks can garner many customers for their saving bank accounts. Nowadays even children want to open their saving accounts. Gradually, as there will be more innovative products and the banks will have better professionals, it is beyond doubt that Islamic banks won’t succeed. The future of Islamic banks is very bright. Conclusion It has been only 37 years since Islamic banks have come into the banking scenario and as compared to the conventional banks, they are quite new. As such, it is quite early to decide whether or not Islamic banking industry is a success or not. Looking at the response an d feedback that Islamic banks are getting from foreign countries that are non-Muslim it may be understood that the even though slow yet there is some progress. The popularity is increasing gradually. Moreover, the world economists have been quite impressed by the performance of Islamic banks during and after the economic crisis. There have been symposiums and conferences to discuss this issue. The number of Islamic banks in non-Muslim countries is increasing gradually and it is estimated that within the next five odd years, the number will double. There are certain drawbacks of Islamic banks but these are due to the strict guidelines of the Sharia. But if we look at these drawbacks from the Sarah’s point of view, it will be understood that it is actually for the good of the masses. Sharia law doesn’t want to harm anyone due to its principles. Islam doesn’t allow earning money from money. The only ways of earning allowed in Islam through business are trading, man ufacturing, and service oriented jobs. There are restrictions to such businesses also. Certain things cannot be dealt with such as gambling, pork, intoxicating items, etc. If we think optimistically, such guidelines are better for the society as a whole because all malpractices can be avoided by such guidelines. Children learn what they see. If we start following the same path as the Islamic banks and abstain from all those things that are banned according to Sharia law, our future generation is sure to become a decent and civilized and God-fearing one. Then our earth will be a better place to live in. Al-Hamzani, Mohammed. 2008. Islamic Banks Unaffected by Global Financial Crisis. Web. asharq-e.com/news.asp?section=6id=14245. Amran, Muhamad. n.d. Prospects for Islamic Banking after the World Economic Crisis. n.d. Web. http://www5.cuhk.edu.hk/wylf/wylf_media/paper_poster/Economic_07_Muhamad_Nur_Adzim_AMRAN.pdf. Arab News. 2012. Symposium Explores Prospects of Islamic Banking. Web. arabnews.com/symposium-explores-prospects-islamic-banking. Ariff, Mohamed, and I. Munawar. The Foundations of Islamic Banking, Cheltenham, United Kingdom: Edgar Elgar Publishing, 2011. Print. Banking Info. 2009, Your Guide on Basic Concepts and Principles of Islamic Banking. Web. bankinginfo.com.my/_system/media/downloadables/islamic_banking.pdf. Faysal Bank. n.d. Faysal Bank. n.d. Web. faysalbank.com/aboutus.html. Grose, Thomas. 2008. The Rise of Islamic Banking in a Time of Economic Crisis. Web. usnews.com/news/world/articles/2008/12/10/the-rise-of-islamic-banking-in-a-time-of-economic-crisis. Hannan. n.d. Islamic Banking: Problems and Prospects. n.d. Web. shahfoundationbd.org/hannan/article10.html. Hassan, Abul. 2009. The Global Financial Crisis and Islamic Banking. Web. islamic-foundation.org.uk/IslamicEconomicsPDF/Hassan-financialcrisis-if.pdf. Meezan Bank. n.d. Meezan Bank. n.d. Web. meezanbank.com/MeezanBank1.aspx. Sultan, Anees. 2008. As Islamic Banking Grows, so does the Ne ed for Standards. Web. thenational.ae/thenationalconversation/comment/as-islamic-banking-grows-so-does-the-need-for-standards. Tahir, Sayyid. n.d. Current Issues in the Practice of Islamic Banking. n.d. Web. irti.org/irj/go/km/docs/documents/IDBDevelopments/Internet/English/IRTI/CM/downloads/Distance_Learning_Files/Lecture-8_Related_Reading-1_Current_Issues_in_the_Practice_DrTahir.pdf. The Islamic Banker. n.d. Islamic Banking and Economics. n.d. Web. theislamicbanker.com/history_islamic_banking/. Appendix 1 Statement of financial position of Meezan Bank Source: www.meezanbank.com Appendix 2 Statement of financial position of Faysal Bank Source: www.faysalbank.com