Annotated Bibliography Example | Topics and Well Written Essays - 500 words

Annotated Bibliography Example The discriminatory HR policies caused conflict between the two groups, eventually reducing the productivity, whereas favorable policies that encouraged friendly interactions between the local workers and the expatriates, such as buddy systems, greatly enhanced the relationship between the two groups and provided the expatriates with the necessary emotional support in a new country. The reading also reveals that unequal treatment of different groups of workers caused discord, and this feeling of inequality is dependant more on cultural factors and role in decision making rather than differences in pay packages. Practical Implications: The reading implicated that many cross-cultural differences that are usually ignored while making policies, have a significant effect on expatriate-local relationships such as cultural conflicts between two different groups that speak the same language. The reading strongly suggests that significant attention should be paid to the local staff while dealing with expatriates and that the opinions of the local staff are ignored by most of the current HR policies. The reading also points out the importance of considering the social and people skills of the candidates while selecting employees for offshore missions. Value to Reader: The main objective of the reading is to note the need of updating the current expatriate policies. Nowadays, most of the local workforce for the western companies has the same skill levels as the expatriates and any measure of them being treated unequally by the management will have a negative impact on the motivation of the staff and hence the productivity of the company. The local staff needs to be treated more as an asset as they are more knowledgeable regarding the culture of their home country and possess contacts that could help the parent companies. Additionally, local employees need to be prepared for the incoming expatriates as favorable interactions,

The Nature And Role Of The Financial System Finance Essay

The Nature And Role Of The Financial System Finance Essay Financial system is a mechanism where economic exchange activities can be done. The economic activities can be done through the interaction between financial institutions and the financial market. The purposes of this interaction are to mobilize fund and providing payment facilities for the financing of commercial activities. With the emergence of Islamic finance, the dual financial systems being introduce. In dual financial system the conventional financial systems operating side by side with the Islamic financial systems. The Islamic Financial system consists of the role of four essential mechanisms: The Islamic banking institutions, Takaful, Islamic Capital Market and Islamic Money market. The structure of this financial system may consist of specialized and non-specialized financial institutions, of organized and unorganized financial markets, of financial instruments and services which facilitate transfer of funds. It also comprises of procedures and practices adopted in the Islamic financial markets. The operation and mechanism of the financial system is scrutinized by Bank Negara Malaysia advisory board and Securities Commission Syariah Advisory Board to ensure compliance of Islamic rules and regulations. The Islamic financial institutions which are govern and control under Bank Negara Malaysia are the organizations that mobilize the depositors savings, and provide financing, acting as creditor or in the form of capital venture or financing in the form of profit and loss sharing (PLS). They also provide various financial services to the community, particularly business organizations. The activities will be dealing in financial assets such as deposits, loans, securities or dealing in real assets such as machinery, equipment, stocks of goods and real estate. The activities of different financial institutions may be either specialized or their function may be overlap. They may be classified base on the basis of their primary activity or the degree of their specialization with relation to savers or borrowers with whom they customarily deal or scope of activity or the type of ownership are some of the criteria which are often used to classify a large number and variety of financial institu tions which exist in the economy. Financial institutions are divided into banking and non-banking institutions. The banking institutions traditionally participate in the economys payments mechanism, i.e., they provide transactions services, their deposit liabilities constitute a major part of the national money supply, and they can, as a whole, create deposits or credit, which is money and Banks, subject to legal reserve requirements, can advance credit by creating claims against themselves. Financial institutions are also classified as intermediaries and non-intermediaries. As the term indicates, intermediaries intermediate between savers and investors; they lend money as well as mobilize savings; their liabilities are towards the ultimate savers, while their assets are from the investors or borrowers. Non-intermediary institutions do the loan business but their resources are not directly obtained from the savers. All banking institutions are intermediaries. Many non-banking institutions also act as intermediaries) and when they do so they are known as Non-Banking Financial Intermediaries. The Evolution of Financial Intermediaries in Malaysia In this section, our task is to survey the landscape and identify the institutional players. By describing what financial intermediaries look like today, it is also revealing to see how financial intermediaries have evolved over the last century. Institutional Players The banking system in Malaysia, which is the major component of the financial sector, consists of Bank Negara Malaysia, commercial banks, Islamic banks, International Islamic banks, Investment bank, other non bank institutions and money brokers. Which are all regulated and supervised by Bank Negara Malaysia.  Ã‚  Ã‚  The other non-bank institutions are supervised by other government agencies. These institutions can be divided into four major groups, consisting of the development finance institutions, the saving institutions, the provident and pension funds, and a group of other financial intermediaries, comprising of building societies, unit trusts and property trusts, leasing companies, factoring companies, credit token companies, venture capital companies, special investment agencies and several financial institutions such as the National Mortgage Corporation (Cagamas) and Credit Guarantee Corporation. The traditional banking system role has been to make long-term loans and fund them by issuing short-term deposits.  [1]  But banking systems are prohibited from engaging in securities market activities such as securities underwriting or the sale of trust funds. Therefore, the current design of non-bank financial institution are allowed to deal in the securities market a part of providing services which are similar to the banking system. The contribution of each non-bank financial institutions: insurance companies and pension funds; they receive investment funds from their customers, both of these institutions place their money in a variety of money-earning investments. Leasing companies; they purchase equipment/asset and then lease to businesses for a set number of years. Factoring companies; provide specialized forms of credit to businesses by making loans and purchasing accounts receivable at a discount, usually assumes responsibility for collecting the debt, specialize in bill processing and collections and to take advantage of economies of scale. Market makers; as an agent that offer to buy or sell security (trading in securities),  [2]  storage the securities and insured the securities against loss, provide margin credit,  [3]  cash management account services.  [4]   Trust funds; pool the funds of many small investors and purchase large quantities of securities, offer a wide variety of funds designed to appeal to most investment strategies, allow the small investors to obtain the benefits of lower transaction costs in purchasing securities and reduce the risk by diversifying the portfolio. The National Mortgage Corporation; is to promote the secondary mortgage market in Malaysia, with the issuance of secondary mortgage securities, Cagamas Berhad performs the function of an intermediary to bring together the primary lenders of housing loans and investors of long-term funds. Evolution The evolution of financial intermediation in Malaysia is reflected in Table 1. Table 1 shows the major financial intermediaries by assets and also by percentage share (in parentheses) from 1960 to 2000. To the extent that we can view the pace of financial intermediation as a horse race, there seem to be a clear winners and losers. For example, in terms of relative importance the winners are unit trust, Cagamas Berhad, leasing companies, factoring companies and venture capital companies. Commercial banks and finance companies are losers. These findings raise some interesting questions. First, what caused the change in the mix of financial intermediaries? In this section, we will examine this evolutionary process via three factors. Deregulation of Interest Rate Interest rate deregulation that affects loan pricing takes its earliest form.  [5]  Canada, in 1960, was the first to deregulate its interest rate. Other countries deregulated in the 1980s or thereafter.  [6]  This deregulation allows more freedom and activity to the banks and other institutions to issue new depository products as well as diversified short and long term credit instruments.  [7]  Leightner and Lovell (1998) state that some relaxation to the banks portfolio were part of the liberalization that enables bank to diversify investment to private as well as the foreign equity.  [8]  This made possible with the establishment of the foreign exchange market and the expansion of the underwriting activities of the financial intermediaries. Liberalization in Japan and Germany for instance, brings new paradigm to the roles of the banking institutions. The bank in Germany and Japan is no longer to be a creditor, but can also be the equity holder and in the board of d irectors and management. Liberalization of the banking industry, for example in Malaysia and some other countries, take banking institution into a new dimension that is the establishment of Islamic banking.  [9]  The increasing demand on the interest free banking offer by the Islamic financial institutions leads many conventional banks to offer Islamic counter or rather known as dual banking. This development happens to Muslim and non-Muslim countries. The results show that the individuals prefer to diversify their investment other than deposits. In particular, they invest in securities such as stocks, bonds and unit trusts. Therefore, new investment in unit trust for the small saver altered permanently the financial landscape. The Institutionalization of Financial Markets Institutionalization refers to the fact that more and more funds in Malaysia have been flowing indirectly into the financial markets through financial intermediaries, particularly pension funds, trust funds and insurance companies rather than directly from savers. As a result, these institutional players have become much more important in the financial markets relative to individual investors. What caused institutionalization? Quite simply, it was driven by the growth of these financial intermediaries, particularly pension and unit trust.  [10]  Pension fund growth was encouraged by government policy. Tax laws, for instance, encourage employers to help their employees by substituting pension benefits for wages. This is good for employees because they do not pay taxes on their pension benefits until they are received after retirement. Unit trusts gained considerably from these changes in pension plan laws. Defined contribution plans were allowed to include unit trust on the menu of assets for which plan members could choose. In addition, the increasing attractiveness of specialized funds such as bond funds and index funds has also fueled unit trust fund growth. The Transformation of Traditional Banking The fact that banks are exposed to the non-performing loans that stood at 9.1% for the periods of 1997 to 1999 and it seems to us that banking is a declining industry. However, first, the so-called decline of commercial banking is limited to a decline in the relative importance of commercial banking. As shown in Table 1, the decline of commercial banks assets as a fraction of total intermediated assets from 43.4% in 1980 to 41.3% in 2001. Table 1 also shows that banking industry assets actually increased between 1960 and 2000. In other words, bank assets have actually increased just not as fast as the assets of other financial intermediaries. Second, many of the new innovative activities in which banks engage are not reflected on bank balance sheets as assets even though they add significantly to bank revenue.  [11]  These include, for example, trading in interest rate and currency swaps, selling derivative instruments and issuing credit guarantees. Third, banks have a strong comparative advantage in lending to individuals and small businesses.  [12]  Finally, banks have joined forces with a number of other types of financial intermediaries.  [13]  For example, banks have combined with unit trust funds, merchant banks, insurance companies and finance companies. Bank acquisitions of non-bank financial intermediaries are part of broader consolidation of the entire financial services industry. Diagram 1: Structure of Regulatory Framework Minister of Land and Co-operative Development Licensing of : Brokers Representatives Trading Adviser Representatives Fund Managers Representatives Minister of Finance Minister of Domestic Trade Consumer Affairs Securities Commission Act 1993 Securities Industry Act 1983 Registrar of Companies Securities Commission Future Industry Act 1993 Companies Act 1965 Cooperative Act 1993 Kuala Lumpur Stock exchange (KLSE) BNM Islamic Banking Act 1983 Licensing of Dealers Representatives Investment Adviser Representatives Fund Managers Representatives Securities Clearing Automated Network Sdn Bhd (SCANS) Malaysian Central Depository Sdn Bhd (MCD) Kuala Lumpur Commodity Exchange (KLCE) Malaysian Futures Clearing Corporation Sdn Bhd (MFCC) Kuala Lumpur Options Financial Futures Exchange (KLOFFE) Malaysian Monetary Exchange (MME) Malaysian Derivative Clearing House Sdn Bhd (MDCH) Table 1: Malaysia: Assets of the Financial System, 1960-2000 As at end of (RM million) 1960 1970 1980 1990 2000 Banking System 2,356 (66.3) 7,455 (64.1) 54,346 (73.3) 223,500 (69.8) 829,900 (66.8) Central Bank 1,114 (31.4) 2,422 (20.8) 12,994 (17.5) 37,500 (11.7) 148,900 (12.0) Commercial Banks 1,232 (34.7) 4,460 (38.4) 32,186 (43.4) 130,600 (40.8) 513,600 (41.3) Finance Companies 10 (0.3) 531 (4.6) 5,635 (7.6) 39,400 (12.3) 109,400 (8.8) Merchant Banks 2,229 (3.0) 11,100 (3.5) 36,900 (3.0) Discount Houses 42 (0.4) 1,292 (1.7) 4,900 (1.5) 21,100 (1.7) Non-Bank Financial Intermediries 1,197 (33.7) 4,167 (35.9) 19,807 (26.7) 96,900 (30.2) 413,100 (33.2) Provident and Pension Funds 733 (20.6) 2,717 (23.4) 11,370 (15.3) 51,800 (16.2) 217,600 (17.5) Life and General Insurance Funds 103 (2.9) 439 (3.8) 2,476 (3.3) 10,300 (3.2) 52,200 (4.2) Development Financial Institutions 113 (1.0) 2,193 (3.0) 6,000 (1.9) 25,100 (2.0) Savings Institutions 267 (7.5) 645 (5.5) 2,463 (3.3) 10,000 (3.1) 32,300 (2.6) Other Intermediaries 93 (2.6) 233 (2.0) 1,305 (1.8) 19,800 (6.2) 85,900 (6.9) Total 3,553 11,622 74,153 320,400 1243,000 Source: Bank Negara Malaysia, Annual Reports (various issues) Financial Markets Financial markets are the centers or an arrangement that provide facilities for buying and selling of financial claims and services the corporations, financial institutions, individuals and governments trade in financial products in these markets either directly or through brokers and dealers on organized exchanges or off-exchanges. The participants on the demand and supply sides of these markets are financial institutions, agents, brokers, dealers, borrowers, lenders, savers, and others who are interlinked by the laws, contracts, covenants and communication networks. Financial markets are sometimes classified as primary (direct) and secondary (indirect) markets. The primary markets deal in the new financial claims or new securities and, therefore, they are also known as new issue markets. On the other hand, secondary markets deal in securities already issued or existing or outstanding. The primary markets mobilize savings and supply fresh or additional capital to business units. Alt hough secondary markets do not contribute directly to the supply of additional capital, they do so indirectly by rendering securities issued on the primary markets liquid. Stock markets have both primary and secondary market segments. Very often financial markets are classified as money markets and capital markets, although there is no essential difference between the two as both perform the same function of transferring resources to the producers. This conventional distinction is based on the differences in the period of maturity of financial assets issued in these markets. While money markets deal in the short-term claims (with a period of maturity of one year or less), capital markets do so in the long-term (maturity period above one year) claims. Contrary to popular usage, the capital market is not only co-extensive with the stock market; but it is also much wider than the stock market. Similarly, it is not always possible to include a given participant in either of the two (money and capital) markets alone. Commercial banks, for example, belong to both. While treasury bills market, call money market, and commercial bills market are examples of money market, stock market and government bonds market are example s of capital market. Keeping in view different purposes, financial markets have also been classified into the following categories: (a) organized and unorganized, (b) formal and informal, (c) official and parallel, and (d) domestic and foreign. There is no precise connotation with which the words unorganized and informal are used in this context. They are quite often used interchangeably. The financial transactions which take place outside the well-established exchanges or without systematic and orderly structure or arrangements constitute the unorganized markets. They generally refer to the markets in villages or rural areas, but they exist in urban areas also. Interbank money markets and most foreign exchange markets do not have organized exchanges. But they are not unorganized markets in the same way the rural markets are. The informal markets are said to usually involve families and small groups of individuals lending and borrowing from each other. This description cannot be str ictly applied to the foreign exchange markets, but they are also mostly informal markets. The nature, meaning, and scope of activities of these types of markets will be discussed later in the book. As mentioned earlier, financial systems deal in financial services and claims or financial assets or securities or financial instruments. These services and claims are many and varied in character. This is so because of the diversity of motives behind borrowing and lending. The stage of development of the financial system can often be judged from the diversity of financial instruments that exist in the system. It is not possible here to discuss individually the nature of various financial claims that exist in the financial system. The financial assets represent a claim to the payment of a sum of money sometime in the future (repayment of principal) and/or a periodic (regular or not so regular) payment in the form of interest or dividend. With regard to bank deposit or government bond or industrial debenture, the holder receives both the regular periodic payments and the repayment of the principal at a fixed date. Whereas with regard to ordinary share or perpetual bond, only periodic payments are received (which are regular in the case of perpetual bond but may be irregular in the case of ordinary share). Financial securities are classified as primary (direct) and secondary (indirect) securities. The primary securities are issued by the ultimate investors directly to the ultimate savers as ordinary shares and debentures, while the secondary securities are issued by the financial intermediaries to the ultimate savers as bank deposits, units, insurance policies, and so on. For the purpose of certain types of anal ysis, it is also useful to talk about ownership securities (viz., shares) and debt securities (viz., debentures, deposits). Financial instruments differ from each other in respect of their investment characteristics which, of course, are interdependent and interrelated. Among the investment characteristics of financial assets or financial products, the following are important: (i)liquidity, (ii) marketability, (iii) reversibility, (iv) transferability, (v) transactions costs, (vi) risk of default or the degree of capital and income uncertainty, and a wide array of other risks, (vii) maturity period, (viii) tax status, (ix) options such as call-back or buy-back option, (x) volatility of prices, and (xi) the rate of return-nominal, effective, and real. DEFINITION AND SCOPE OF A CAPITAL MARKET (THE ECONOMIC FUNCTIONS OF FINANCIAL INSTITUTIONS) The previous section gave a brief overview of the major types of financial institu ­tions. To understand why financial institutions exist and the economic services that they provide, it is important to understand the different ways in which funds are transferred within an economy between businesses, government, and households (economic entities) that need to borrow funds (borrowers) and those that have sur ­plus funds to lend (investors). In a very simple economy without financial institutions, transactions between, different borrowers and lenders are difficult to arrange. Borrowers and savers incur significant search and information costs trying to find each other. Transactions be ­tween borrowers and savers may also be limited, because few financial contracts in ­volve only two parties. Similarly, risks are great, since individual entities have little or no knowledge of each other and little ability to monitor each others actions. Also, the transactions costs may be so high that small entities may be unwilling to supply funds. Investors also have little ability to diversify their risk, due to the high cost of many financial contracts. Supplier of funds: surplus (savings) units Lenders: Housesolders, companies, governments, rest of the worlds Demand of funds: deficit unit Borrowers: Housesolders, companies, governments, rest of the worlds Financial Markets Financial institutions help to reduce transactions, search, monitoring, and infor ­mation costs. They provide risk management services and allow investors to diversify their risk and hold portfolios of financial assets by creating ways of indirect financing. Financial institutions also play important roles in an efficient payment system be ­tween entities and in managing pure risk (insurance). The upper panel of Figure 1 shows the role of financial institutions as intermedi ­aries between borrowers and lenders. The term primary securities refers to direct financial claims against individuals, governments, and non-financial firms. A simple economy without any financial insti ­tutions would accommodate only direct financial claims or financial contracts. In ef ­fect, a borrower gives an investor a financial contract or direct financial claim or se ­curity that promises a stake in the borrowers company (i.e., shares of stock) or future payments returning the amount invested plus interest (i.e., a bond, or some other sort of IOU). These are examples of direct or primary securities. As an economy develops, markets emerge for trading direct securities. Some function as auction markets, where trading is carried out in one physical location, as occurs on the New York Stock Exchange; others function as over-the-counter mar ­kets, where trading is carried out by distant contacts, perhaps over the phone and computer, as on the National Association of Security Dealers Automated Quotation (NASDA Q) system. Loans made directly with borrowers are another example of a primary or direct security, where a direct contract is made between a borrower and a bank or other individual lender. Table 1.2 provides examples of primary securities in the first column. The financial assets owned by banks, insurance companies, and mu ­tual funds, such as loans, bonds, and common stock, are all direct securities, where the lenders give funds to the borrowers, and the lenders receive financial contracts guaranteeing repayment of funds plus interest or shares of ownership in the bor ­rower companies. Investors lend funds in return for a direct or primary security. Secondary securities, in contrast, are financial liabilities of financial institu ­tions-that is, claim against financial institutions. In Table 1.2, financial institu ­tions liabilities-deposits, policyholder reserve obligations, and mutual fund shares-are secondary securities or claims against financial institutions. In effect, fi ­nancial institutions created secondary securities that offer advantages over primary securities or direct financial claims. EXAMPLES OF PRIMARY AND SECONDARY SECURITIES Primary Securities Secondary Securities Commercial loans Savings deposits Mortgage loans Transaction deposits Consumer loans Certificates of deposit Government bonds Insurance policyholders reserves Corporate bonds Mutual fund shares Corporate common stock Pension fund reserves Table 1.2 shows this type of indirect financing. Unfortunately, like most fields, finance sometimes uses confusing terminology. Readers should carefully avoid confusing the use of the words primary and secondary in this dis ­cussion with their use in other contexts. For example, students who have previously stud ­ied corporate finance or investments may have encountered the terms primary and sec ­ondary markets; primary markets are those for originally issued securities, and secondary markets handle resale of securities. In the context of this chapter, primary and secondary distinguish between issuers of securities and not between changes in securities ownership. PRIMARY AND SECONDARY MARKET In a market economy the existence of financial markets can greatly ease the process of exchanging loanable funds for financial claims. A firm that wants to borrow money can go to the market in the knowledge that those with funds to lend will be there. The process is made easier still if specialist traders are known to be actively participating in the markets, buying and selling financial claims on their own account, thereby smoothing over days on which trading is thin or when there is an excess of potential borrowers or lenders. Further economies are achieved if agents or brokers can be employed to enter the market representing the customer to buy and sell securities. The existence of the market serves borrowers and lenders alike by reducing the search costs which each has to incur to get in touch with the other, and also maintains confidence in market prices. Markets do not always have a physical location. A market for loanable funds might consist of nothing more than a list of know n dealers who can be contacted by letter or telephone. The International Stock Exchange is the centre of the securities market. It has both a physical trading site which is used for a very small number of securities, and a highly developed system of trading which takes place in a number of locations via computer linkages. The discount market is another traditional financial market, but one which operates without a physical site at all. This market operates by representatives of the discount houses maintaining close daily contact with the leading banks, either by telephone or personal visits, to determine where trading opportunities are. Two types of financial markets exist for real and financial assets, and it is important to distinguish between them. A primary market for financial assets deals in new issues of all types of loanable funds. Transactions in primary markets result either in the creation or in the extinction of financial claims. The creation of a new loan causes the transfer of cash from a lender to a borrower in exchange for a financial claim on the latter. The claim is extinguished when the cash, usually interest and principal, has been repaid to the lender. A secondary market is a market in old issues. Transactions in secondary markets do not create or extinguish financial claims. Cash does not pass between borrowers and lenders, but existing issues simply change hands. The borrower remains unaffect ed by the transaction while the lender transfers the right of repayment to another. The main economic function of the secondary markets is to support the operations of the associated primary markets for new issues by providing liquidity to lenders. In the absence of a developed secondary market an individual saver might be very unwilling to lend out money for long periods of time, except at rates of high interest too high to be attractive to borrowers. If the chances of making a sale when necessary are unacceptably low, no lender would commit funds. Therefore an active secondary market is essential for an active primary one. However, there is no guarantee that the lender will receive back in sale proceeds the full amount at the time they are sold, since markets fluctuate all the time, and prices are not constant. Secondary markets also contribute to the efficiency of the primary market by providing pricing information. In the share market, for example, the current prices of traded securities significantly reduce the problem of setting a price on new issues with similar risk profiles, and information from the secondary market will also influence the attitude of potential participants in primary markets. Figure 3.2 illustrates the connections between primary and secondary markets. Not all primary markets have secondary markets associated with them and some securities are issued for which there are no secondary markets

To Kill a Mocking Bird :: To Kill a Mockingbird Essays

To Kill A Mocking Bird To Kill a Mocking Bird is based in about 1935, right in the middle of the depression. It is set in a small town in Alabama called Maycomb. Maycomb, like most small southern towns, has a problem with widespread racism toward Negroes. The novel focuses on one family, the Finches. In the family there are three people, Scout, Jem and Atticus. Atticus is a lawyer and is defending a Negro man in court (Tom Robinson), something that was not often done in the south due to racism. Many people feel threatened by this and feel very resentful toward Atticus. Throughout the novel all the members of the Finches and many others display courage in their attempts to stand up for what they believe in. In the beginning of the novel we meet Jean Louise Finch, or Scout for short. Scout is an energetic little six year old. She still has her innocence and has not yet been able to understand the concepts of racial discrimination or hate. Scout is confused by what some of her classmates have been saying abou t her father, Atticus Finch. Many of her classmates call Atticus a nigger lover. Being only six Scout does not know how to handle such situations so she solves her problems by fighting. On the day that Tom Robinson was moved to the Maycomb jail to await his trial, Atticus left the house to go and sit outside of the jail to watch over Tom to make sure that nothing happens to him. Scout, Jem and Dill followed him there to make sure that nothing happened to him. Suddenly several cars pulled up at the jail. A mob got out of the vehicles and demanded that Atticus step aside so that they could get at Tom. Frightened the children came running to Atticus' side and asked him if everything was okay. Atticus told them to go home, but they refused. Suddenly, Scout saw a man that she knew, Mr. Cunningham. She said hi to him, twice before he acknowledged her. She began asking him questions about his entailments and talking about Walter, his son. At first he said nothing, Scout was afraid that she had done something wrong. Then finally he said something, he said that he would tell Walter that she said hey. After that, they all left. By singling out Mr. Cunningham she turned to mob into individuals and thus making them more aware as to what they were doing.

Tourism Botswana

Currently, Botswana has developed It's tourism Industry Into one that caters for the luxury traveler; offering high-end safaris and lavish accommodations. However, Botswana two mall economies are coming to a fork In the road and the ability to maintain the growth that their economy is experiencing will be directly determined by which path the country ultimately chooses. The Dilemma Diamonds, in truth, are not forever and analysts predict that Botswana diamond reserve will be significantly diminished in twenty years.With the huge profits that diamonds bring, Botswana focused its attention on the diamond industry and as result the economies lack of diversification is apparent. Botswana now needs o tackle this issue while there is still time to savor the benefits of the diamond industry and begin making the necessary preparations for Its eventual replacement. Tourism, It seems, Is the natural step for the country to take, but it does come with Its own challenges.Countries all over the w orld face a salary task; the struggle to find a balance between fostering a growing economy while both protecting and stalling the environment. If Botswana chooses to expand its tourism industry, there will be included, that will be the main attraction. In short, it is progression of the economy rears the preservation of the environment. Impacted Parties Ultimately, it is the wildlife and the landscape that will pay the highest price if an influx is tourism is too steep.As humans move further and further into untouched land, our mark is obvious; pollution, construction, and loss of habitat will occur. Conservation efforts will be important â€Å"Because tourism has a tendency to destroy or at least endanger its own assets, the protection and conservation of its natural environment is imperative† (BID). Conservation groups in Botswana will be eager to hear what measures will be taken to protect the environment.

Lorrana bobbit essays

Lorrana bobbit essays The Lorena Bobbitt story is one that really points out some of Freuds theories no the id and ego battles that go on inside a person head. Lorena the battered, abused, and many times raped wife of John Wayne Bobbitt, had just had enough of the way she was being by her husband so one night following the impulses of her id she cut off her husbands penis, ignoring her ego that helps a person behave within social norms. She said that she was thinking about all the things that her husband had done to her and that it drove her temporally insane and so she cut it off so he would leave her alone. The jury bought her story and she was acquitted. Are there times in our life when we are truly not responsible for the things we do? Or did the jury in this case just think John Wayne was a jerk that deserved it? We may never know for sure but there or other storys where people have clamed the same as Lorena and been charged lets look at a few. How about the time told crime of Lizzy Borden who took an axe and gave her mother forty wakes, when she saw what she had done she gave her father forty-one. She was never convicted of the crime but what could have caused her to do such a thing, did she like Lorena Bobbitt just get feed up with the way she was being treated? Can the way someone treats you even justify a violent act? According to the Bobbitt case it can. But lets look at a local case in the same realm; but that the courts did not allow the perpetrator go free. Two young boys playing on their Sony Play station, one boy gets mad that the other keeps beating him so, that night he takes a knife from his mothers kitchen and stabs the other boy repeatedly while he sleeps. Does this young boy fall under the same temporary insanity that Lorena did? Yes, according to his lawyer but no, according to the Jury. Maybe it depends on whether people can see doing it them self ...

History of the Lindbergh Baby Kidnapping

History of the Lindbergh Baby Kidnapping On the evening of March 1, 1932, famous aviator Charles Lindbergh and his wife put their 20-month-old baby, Charles (â€Å"Charlie†) Augustus Lindbergh Jr., to bed in his upstairs nursery. However, when Charlie’s nurse went to check on him at 10 pm, he was gone; someone had kidnapped him. News of the kidnapping shocked the world. While the Lindberghs were dealing with ransom notes that promised the safe return of their son, a truck driver stumbled upon the decomposing remains of little Charlie on May 12, 1932, in a shallow grave less than five miles from where he had been taken. Now looking for a murderer, the police, FBI, and other government agencies stepped up their manhunt. After two years, they caught Bruno Richard Hauptmann, who was convicted of first-degree murder and executed. Charles Lindbergh, American Hero Young, good looking, and shy, Charles Lindbergh made Americans proud when he was the first to fly solo across the Atlantic Ocean in May 1927. His accomplishment, as well as his demeanor, endeared him to the public and he soon became one of the most popular people in the world. The dashing and popular young aviator didn’t stay single long. On a tour of Latin America in December 1927, Lindbergh met heiress Anne Morrow in Mexico, where her father was the U.S. ambassador. During their courtship, Lindbergh taught Morrow to fly and she eventually became Lindbergh’s co-pilot, helping him survey transatlantic air routes. The young couple married on May 27, 1929; Morrow was 23 and Lindbergh was 27. Their first child, Charles (â€Å"Charlie†) Augustus Lindbergh Jr., was born on June 22, 1930. His birth was publicized around the globe; the press called him â€Å"the Eaglet,† a nickname stemming from Lindbergh’s own moniker, â€Å"the Lone Eagle.† The Lindbergh’s New House The famous couple, now with a famous son, tried to escape the limelight by building a 20-room house in a secluded spot in the Sourland Mountains of central New Jersey, near the town of Hopewell. While the estate was being built, the Lindberghs stayed with Morrow’s family in Englewood, New Jersey, but when the house was nearing completion, they’d often stay the weekends at their new home.  Thus, it was an anomaly that the Lindberghs were still at their new home on Tuesday, March 1, 1932. Little Charlie had come down with a cold and so the Lindberghs had decided to stay rather than travel back to Englewood. Staying with the Lindberghs that night were a housekeeping couple and the baby’s nurse, Betty Gow. Charles Augustus Lindbergh Jr, son of the American aviator, on his first birthday. A few months later he was kidnapped from his home and murdered. (Photo by BIPS/Getty Images) Events of the Kidnapping Little Charlie still had a cold when he went to bed that night on March 1, 1932 in his nursery on the second floor. Around 8 pm, his nurse went to check on him and all seemed well. Then around 10 pm, nurse Gow checked in on him again and he was gone. She rushed to tell the Lindberghs. After making a quick search of the house and not finding little Charlie, Lindbergh called the police. There were muddy footprints on the floor and the window to the nursery was wide open. Fearing the worst, Lindbergh grabbed his rifle and went out into the woods to look for his son. The police arrived and thoroughly searched the grounds. They found a homemade ladder believed to have been used to kidnap Charlie due to scrape marks on the outside of the house near the second-floor window. Also found was a ransom note on the nursery’s windowsill demanding $50,000 in return for the baby. The note warned Lindbergh there would be trouble if he involved the police. The note had misspellings and the dollar sign was placed after the ransom amount. Some of the misspellings, such as â€Å"the child is in gute care,† led the police to suspect a recent immigrant was involved in the kidnapping. A postcard from the kidnapper.The kidnapping of Charles Augustus Lindbergh, Jr, the eldest son of aviator Charles Lindbergh and Anne Morrow Lindbergh, was one of the most highly publicized crimes of the 20th century. Print Collector/Getty Images / Getty Images The Liaison On March 9, 1932, a 72-year-old retired teacher from the Bronx named Dr. John Condon called the Lindberghs and claimed that he had written a letter to the Bronx Home News offering to act as an intermediary between Lindbergh and the kidnapper(s). According to Condon, the day after his letter was published, the kidnapper contacted him. Desperate to get his son back, Lindbergh allowed Condon to be his liaison and kept the police at bay. On April 2, 1932, Dr. Condon delivered the ransom money of gold certificates (serial numbers recorded by the police) to a man at St. Raymonds Cemetery, while Lindbergh waited in a nearby car. The man (known as Cemetery John) did not give the baby to Condon, but instead gave Condon a note revealing the babys location – on a boat called the Nelly, between Horseneck beach and Gay Head near Elizabeth Island. However, after a thorough search of the area, no boat was found, nor the baby. On May 12, 1932, a truck driver found the baby’s decomposed body in the woods a few miles from the Lindbergh estate. It was believed that the child had been dead since the night of the kidnapping; the baby’s skull was fractured. Police speculated that the kidnapper might have dropped the baby when he came down the ladder from the second floor. Kidnapper Captured For two years, the police and the FBI watched for serial numbers from the ransom money, providing the list of numbers to banks and stores. In September 1934, one of the gold certificates showed up at a gas station in New York. The gas attendant became suspicious since gold certificates had gone out of circulation the year before and the man purchasing gas had spent a $10 gold certificate to buy only 98 cents of gas. Worried that the gold certificate might be counterfeit, the gas attendant wrote down the license plate number of the car on the gold certificate and gave it to the police. When the police tracked down the car, they found that it belonged to Bruno Richard Hauptmann, an illegal German immigrant carpenter. Police ran a check on Hauptmann and found that Hauptmann had a criminal record in his hometown of Kamenz, Germany, where he had used a ladder to climb into the second-story window of a home to steal money and watches. Police searched Hauptmann’s home in the Bronx and found $14,000 of the Lindbergh ransom money hidden in his garage. Evidence Hauptmann was arrested on September 19, 1934, and tried for murder beginning on January 2, 1935. Evidence included the homemade ladder, which matched boards missing from Hauptmann’s attic floorboards; a writing sample that reportedly matched the writing on the ransom note; and a witness that claimed to have seen Hauptmann on the Lindbergh estate the day before the crime. Additionally, other witnesses claimed that Hauptmann gave them the ransomed bills at various businesses; Condon claimed to recognize Hauptmann as Cemetery John; and Lindbergh claimed to recognize Hauptmann’s German accent from the graveyard. Hauptmann took the stand, but his denials did not convince the court. On February 13, 1935, the jury convicted Hauptmann of first-degree murder. He was put to death by electric chair on April 3, 1936, for the murder of Charles A. Lindbergh Jr.

Macroenvironmental Impact on the Company Product Sales Essay

Macroenvironmental Impact on the Company Product Sales - Essay Example This is because they affect the sales of an item or service in one way or the other. Therefore, before Monster Corp launches Monster Gum in the market, it is imperative that it carries out an analysis on the impacts of microenvioronment on the sales of its product. The objective of this paper is to explore the microenviornmental components; demographic, environmental, economic and cultural factors will likely impact on the sales of â€Å"Monster Gum.† Demographics One area of particular interest with regard to market analysis is the demographics. This is refers to population trend study such as population size and movement; birth and death rates; gender, age and ethnic origin (Elearn 85). All these components that make up demographics will affect Monster Corp’s sales of the monster gum. For instance, the company is mainly targeting a specific age group in the society which is 18 to 30 years. This implies that as these group ages out, the sales of the product will likely reduce. In fact, it means that, in case this population age group is faced out, then the company will likely face a closure since the target age group will no longer be there to sell to. On the other hand, the company would likely to gain in areas with high population size of the age group that is targeted. Environment Environment in this case is described as macro and community level factors such as legal, physical, and policy factors that influence individuals and household decisions. Environment influences diet in many households (Hitchner 89). The impacts of caffeine on differ from one individual to the next. Therefore, so people would only prefer products that have no caffeine in them thus affecting the sales. On the other hand, health issues have become a major area of concern as many people become so sensitive to the diets. As a result, some individuals perceive caffeine to pose serious health issue and would, therefore, not want to consume. This affects the sales of the pro duct. Legal issue such as government policies may also affect the sale of the product. This can either be negative or positive. For instance, government assistance in the form of subsidies and loans may fledge the company grow and help it keep its costs low for customers. This will result to an increased sale of the product (Ginter and Duncan 96). However, the impact may also be negative in a situation where it imposes a regulation that increases costs. This will make the company adjust its prices up making the product expensive. This in turn, will scare away consumers who will find it better look for other substitutes that are cheaper thus, affecting the sales of monster gum. Economic Factors There are a number of economic factors that may impact on the company’s product sales. For instance, the growth of a country, unemployment, and the capacity to get funding are all economic factors, just as the exchange rates, interest rates, inflation and per capita income (Gimbert 51). These factors usually exist in the day-today operation of a company or business. For instance, the existence of high unemployment rate in a country will affect the purchasing power of individuals thus leading to a decreased sale of monster gum. High inflation and interest rates of in an economy will make Monster Corp adjust to the economic situation. However, the increase in prices due to increase in inflation and int