Notes On The Value Of Diversification - 1352 Words

The value of diversification Introduction Every finance students have learnt diversification is to reduce total risk by investing a basket of assets in portfolios. But what contributes to the success of portfolio diversification? A large number of assets? A variety types of asset allocation? Adding international investment? Numerous of risk factors? They are all indicators of a well-diversified portfolio. In this case, we will discuss about the advantages and disadvantages of diversification in portfolio management with related indicators. On one hand, some mention dynamic and numerous assets allocation in the portfolio will reduce both risks. While some also state the benefit of introduce multi-factor portfolio pricing models. On the other hand, arguments arise demonstrating adding international investment may disappoint investors because foreign market could be correlated and moved together. Another disadvantage could be the correlated assets collected weaken the effect of diversification. At the end, a balanced conclusion will be drawn to support the useful diversification. Dynamic and numerous asset allocation benefits Since there are two types of risk we need to account for: systematic risk and idiosyncratic risk, the easiest one to be diversified away is the idiosyncratic risk. It is known that an optimal portfolio could gain on diversification by investing a large basket of stocks. This is a good way to offset firm-specific risk. According to Bodie, Kane and MarcusShow MoreRelatedNotes On The Value Of Diversification1497 Words   |  6 PagesThe value of diversification Introduction Diversification is worth more than a word. It works on reducing the total risk of a portfolio with different asset types. But what contributes to the success of portfolio diversification? A large size of portfolio? A variety types of asset allocation? Adding international investment? Numerous of risk factors? They are all indicators of a well-diversified portfolio. But it is hard to achieve a perfectly diversified portfolio in reality because you cannot diversifyRead MoreRelationship Between Corporate Diversification And Csp1297 Words   |  6 Pagesresearch aim which wants to examine the relationship between corporate diversification and CSP, this study uses multiple regression analysis with one year lag model as the data analysis tool. The regression equations are as follows: CSP_i2013 =ã€â€" ÃŽ ²Ã£â‚¬â€"_1 ã€â€"total diversificationã€â€"_i2012+∑_(i=1)^nââ€"’ã€â€"ã€â€"ÃŽ ²_i Controlã€â€"_i2012+ÃŽ µ_i ã€â€" (1) CSP_i2013 =ã€â€" ÃŽ ²Ã£â‚¬â€"_1 ã€â€"related diversificationã€â€"_i2012+ÃŽ ²_2 ã€â€"unrelated diversificationã€â€"_i2012+ ∑_(i=1)^nââ€"’ã€â€"ÃŽ ²_i Controlã€â€"_i2012 +ÃŽ µ_iRead MoreAnalysis of Sabmiller1347 Words   |  6 PagesANALYSIS OF SABMiller’s DIVERSIFICATION AND COMPETITIVE STRATEGIES INTRODUCTION SABMiller PLC is a global giant in the brewery industry and has a track record of innovation and growth. Being one of the world’s biggest brands, SABMiller has adopted a unique style to ensure competitive advantage and remain at the forefront of the brewing world. Key to its developing and maintenance of relevance are its values and strategic priorities Values include: Recognition of people being an enduring advantageRead MoreManaging Investment Growth Of A Diversified Portfolio1499 Words   |  6 Pagesreturn requirements. Even though some investments may present greater risk they are countered by a higher rate of return and vice versa, less risk corresponds to a lower return. Moreover, investment risk can be substantially reduced through diversification, which spreads a portfolio across different industries, businesses and investment options. The makeup of a diversified portfolio continually changes based on an investor’s time horizon and investment goals. In accordance with the Modern PortfolioRead MoreThe Walt Disney Company: the Entertainment King Essay1589 Words   |  7 PagesMaximilian Scheufler Strategic Management The Walt Disney Company: The Entertainment King[1] I. Why has Disney been successful for so long? Disney’s long-run success is mainly due to creating value through diversification. Their corporate strategies (primarily under CEO Eisner) include three dimensions: horizontal and geographic expansion as well as vertical integration. Disney is a prime example of how to achieve long-run success through the choices of business, the choice of how manyRead More Exploring Walt Disney Company: The Entertainment King Essay1514 Words   |  7 PagesStrategic Management The Walt Disney Company: The Entertainment King[1] I. Why has Disney been successful for so long? Disney’s long-run success is mainly due to creating value through diversification. Their corporate strategies (primarily under CEO Eisner) include three dimensions: horizontal and geographic expansion as well as vertical integration. Disney is a prime example of how to achieve long-run success through the choices of business, the choice of how many activities to undertakeRead MoreRisk Reduction by Diversification of Porfolio1346 Words   |  5 Pagesbasket† and â€Å"Don’t put all your eggs in one basket†. The latter one is supported by many and known as diversification [7]. Diversification is associated with reducing risk and maximizing returns of investors and portfolio managers i.e. risk-return trade off. An investor gets benefitted by spreading his scarce resources over various assets [2, 8] which maximizes return and minimizes risk. Diversification is needed to minimize volatility i.e. measure of risk and maximize return. After the global financialRead MoreGeneral Motors Diversification1215 Words   |  5 PagesGM describes their brand politics as having two brands which will drive our global growth. They are Chevrolet, which embodies the qualities of value, reliability, performance and expressive design; and Cadillac, which creates luxury vehicles that are provocative and powerful. At the same time, the Holden, Buick, GMC, Baojun, Opel and Vauxhall brands are being carefully cultivated to satisfy as many customers as possible in select regions. As it emerged from bankruptcy and company reorganizationRead MoreGlobal Versus Regional Geographic Diversification Essay1546 Words   |  7 PagesGlobal versus Regional Geographic Diversification Recent progresses in the international business literature note down that multinational enterprises (MNEs) have a tendency to be more regional than global, in terms of width and strength of their market covering, and that the majority of their international action is conduct within their home regions. In agreement with the regionalization theory, this suggest that the responsibility of intra-regional expansion is much lower than the responsibilityRead MoreAlternative Strategies1745 Words   |  7 Pagesproducts or services in present markets through greater marketing efforts, product development which is seeking increased sales by improving present products or services or developing new ones, related diversification which is adding new but related products or services, unrelated diversification which is adding new, unrelated products or services, retrenchment which is regrouping through cost and asset reduction to reverse declining sales and profit, divestiture which is selling a di vision or part

Possess Ethical Behavior Essay Example For Free At Magic Help - Free Essay Example

Sample details Pages: 5 Words: 1639 Downloads: 3 Date added: 2017/06/26 Category Business Essay Type Argumentative essay Did you like this example? Organizations are to be called ethical should possess ethical behavior. Ethical behavior is an outcome of the companys ideal policies, statements and guidelines. There are three theories which provide a framework for judging the ethical nature of an organization: According to the theory of corporate moral excellence, ethical organization is one that is based on moral values. Don’t waste time! Our writers will create an original "Possess Ethical Behavior Essay Example For Free At Magic Help" essay for you Create order These moral values guide the behavior of the employees in their daily routine. According to the ethics and stakeholders theory, an ethical organization is one whose managers act in a responsible manner by paying attention to the needs and rights of all the stakeholders. According to the theory of ethics and corporate governance the government practices adopted by organization to ensure right, fair, and just decisions and actions plays a major role in building an ethical organization. Here, the Enron case has been taken to look at the various ethical issues and deviations from it. It is perhaps the most compelling business ethics case in a generation. Enron was a high-flying energy company that sought to transform itself into the worlds biggest energy trader. At one time it was by stock market value the seventh largest US company, led by its dynamic, politically connected chairman Kenneth Lay. But its share price collapsed when it emerged that the company had been conceali ng losses by setting up shell companies. Many executives benefited from the companys high share price by cashing in their stock options. But employees who had put all their pension money in Enron shares lost everything when the firm went bankrupt. Andersen one of the worlds five leading accounting firms was Enrons auditor. Andersens role in the Enron affair has brought the once prestigious accounting firm to its knees. Its job was to check that the companys accounts were a fair reflection of what was really going on. As such, they were the first line of defence in the case of any fraud or deception. When the scandal broke, as the government began to investigate the companys affairs, Andersens chief auditor for Enron, David Duncan, ordered the shredding of thousands of documents that might prove compromising. Andersen dismissed Mr. Duncan, but insisted that the firm did not act improperly and could not have detected the fraud. But, in June 2002, Andersens US division was f ound guilty by federal prosecutors of obstructing the course of justice. Pre-empting its official punishment, Andersen voluntarily agreed to stop auditing public companies in the US. Many important clients had already deserted the sinking ships, and its international businesses have been divided up between its rivals. Earlier attempts to save itself through a merger ended in failure. Following the conviction, multi-million dollar lawsuits brought by Enron investors and shareholders demanding compensation are likely to follow, and could bankrupt the firm. The scandal has also entered the political realm, because of Enrons close links with the White House. Enron provided millions of dollars to finance Mr. Bushs 2000 election campaign. Mr. Bush was a personal friend of Mr. Lay, but has been quick to distance himself from any involvement with the firm. It has also emerged that Mr. Lay called two US cabinet officers before the company filed for bankruptcy. And the US Treasury De partment has said one of its officials felt he was asked to help Enron by company president Lawrence Whalley. Enron executives also met Vice President Dick Cheney and his energy task force several times to discuss the administrations energy plan. The shock waves of Enrons collapse have been felt on the British political scene because of the companys sponsorship of both the main political parties, Labour and the Conservatives. Cash for access claims have been made against the Labour government, which abandoned its moratorium on gas-fired power stations after lobbying and campaign contributions from Enron. The government dismisses any suggestion of impropriety and says it would have been odd if energy ministers had not met with executives from Enron and other companies. The row has renewed campaigners calls for political parties to be funded by the state rather than relying on business donations. An extra dimension to the British overspill from Enron is added by the fact t hat Labour had close links in opposition with Arthur Andersen, who were the energy giants accountants. Allegations about the governments links with Enron were eclipsed when the spotlight turned on Lord Wakeham, a former Conservative cabinet minister and non-executive director of the company. Lord Wakeham had served on the committee that was meant to oversee Enrons auditing procedures. While investigations continue, Enron has sought to salvage its business by spinning off various assets. It has filed for Chapter 11 bankruptcy, allowing it to reorganize while protected from creditors. Former Chief executive and Chairman Kenneth Lay has resigned, and restructuring expert Stephen Cooper has been brought in as interim chief executive. Enrons core business, the energy trading arm, has been tied up in a complex deal with UBS Warburg. The bank has not paid for the trading unit, but will share some of the profits with Enron. Centrica, part of the former British Gas, has bought Enrons European retail arm for pound;96.4m. Dynegy, a smaller rival, has won a key pipeline in the US after merger talks fell through. The pipeline was then resold to Warren Buffet. The power project in Indias Maharashtra state the biggest foreign investment project in India is still for sale. Enrons false accounting was not spotted sooner has prompted the accounting industry to take a hard look at itself. Issues earmarked for attention by reformers include: The role of business funds in political campaigning. The extent of energy companies influence on national energy policy. Potential conflicts of interest between consultancy and auditing work. The need for tighter regulation on financial derivatives trading. In theory, the Enron scandal should never have happened. US financial markets are supposed to be the best regulated in the world, with the Securities and Exchange Commission (SEC) enforcing strict rules on disclosure to protect investors and private agencies also monitoring companies. But Enrons accounts proved impenetrable to government and private regulators alike, while its main business energy trading was only lightly regulated by another set of government agencies which exempted it from many reporting requirements, while maintaining close ties with the company. Enron executives faced criminal charges for fraud as investigations are underway by the SEC, the US Department of Justice and the FBI It is meant to be a reminder that simply having a detailed code of ethics on the books (as Enron certainly did) is not enough. Organizations need to infuse ethics and integrity throughout their corporate culture as well as into their definition of success. After all, being e thically literate is not just about giving large sums of money to charity-something that Enron did. It is about recognizing and acting on potential ethical issues before they become legal problems. Here, Enron appears to get a failing grade. Insider trading is one of the indefensible exploitations of information asymmetries. In due course, we will have a legal determination regarding whether or not Enron officers or directors engaged in this practice. But legal determinations aside, Enron officers should have been far more alert to the perception that they might benefit from exploitation of information asymmetry. Again ethical literacy is all about recognizing potential ethical issues before they become legal problems. And incidentally, since the U.S. Supreme Courts Texas Gulf and Sulfur case in 1969 it has been unlawful for directors, as the Enron chairman was, who have inside price sensitive information to trade in that stock. Enron is not the only party that is vulnerabl e on the issue of truth telling. Its accountants and many Wall Street analysts ratified and legitimized the companys scenarios and statements regarding its prospects. The accountants misled and analysts are certainly making the case for Enron deception but it is their job to pierce the veil. No potential client thinks otherwise. The role of accountants and analysts is to serve shareholders and potential shareholders in rectifying the information asymmetries that exist when shareholders deal directly with the company. Four elements are essential in a compliance culture: High level commitment- High profile company and board involvement is essential. But companies with successful programs are much more likely to have other senior executives such as the general counsel, the chief financial officer, and chief internal auditor play a significant role. Country managers also participate in all phases (development, implementation, monitoring) of company efforts. Statements, Policies and Operating Procedures- Successful companies are much more likely to have an anti-corruption statement and detailed procedures for disseminating it widely to employees, suppliers, and joint venture partners. These efforts are often supported by training and discussion groups and suppliers and joint venture partners are more likely to be bound by the companys ethics policies. Management Responsibility, Supervision and Resources-Corporate involvement in company anti-corruption efforts is heavy. According to a Conference Board survey about half of the companies with successful programs manage their initiative directly, while slightly more than one-third issue guidelines to local offices and require country managers to certify compliance with corporate policy. The small remaining group coordinates local initiatives from headquarters. Record Keeping, Reporting and Whistleblowing- these are the least well developed elements of most programs. Successful companies regard compliance certification and the reporting of questionable practices to be critical to the success of their initiatives. Low employee utilization of whistleblowing systems continues to be a problem, but major business and labor advisory committees to the OECD have endorsed them on the grounds that it is better to encourage staff to raise worries within the organization than to put people in the position where they feel driven to approach the media. References: Business Ethics Corporate Governance ICFAI University Publications www.icmrindia.org en.wikipedia.org/wiki/Enron news.bbc.co.uk

Comparison of Erikson and Maslow - 1059 Words

Comparison of Erikson and Maslow Tianna Hillis PSY 405 January 30, 2012 Jill Bean Comparison of Erikson and Maslow Personality affects many aspects of life. It influences behavior and social relations. Erik Erikson is a theorist known for his stages of personality development. He explains that certain stages of development affect personality in separate ways. Abraham Maslow is a theorist known for his hierarchy of needs. He explains that fulfilling needs influences personality. This paper will discuss personality characteristics of both theories and how personality affects situational behavior and interpersonal relations. Erikson’s theory of personality is based on his eight stages of development. In each of these eight stages of†¦show more content†¦Depending on which characteristic is learned from each stage, behavior will be different. If a young child fails to perform to his or her parents standards during the autonomy developmental stage, the child may continue to perform poorly. This trait can show through all the time or only in situations where the child feels pressure to perform (Feist amp; Feist, 2009). If an adolescent fails to establish his or her identity, he or she may miss out of discovering other aspects of life. Based on Erikson’s stages of development, traits arise from experiences. The experiences cause different behaviors based on the situation and personality (Feist amp; Feist, 2009). In Maslow’s theory, personality is based on which level of needs has been achieved. In this line of thinking, if a situation arises in which bags of groceries are left alone, a person who has satisfied the physiological needs will leave the food alone. A person who has yet to satisfy his or her physiological needs may take the food (Feist amp; Feist, 2009). The difference in personality based on the hierarchy of needs is what makes the behavior different. The same difference in behavior is similar to two individuals in an interview who are at different levels on the hierarchy. A person who has not yet fulfilled the self-esteem level will be less comfortable and an interview and act accordingly (Feist amp; Feist, 2009). Interpersonal relationships are affected byShow MoreRelatedMaslows Hierarchy Of Need Essay1481 Words   |  6 Pagescreated by such authors as: Abraham Maslow, Frederick Herzberg, Douglas McGregor, David McClelland and others. In that particular paper the author will explore two motivation theories – Maslow’s hierarchy of needs and two factor theory of F. Herzberg. The goal of the paper is comparative analysis of the theories of two authors. The paper consists of three parts: the first two parts give a theoretical insight into two theories. The third part deals with comparison of two theories. 1. MaslowsRead MorePsychology : Psychology And Psychology1300 Words   |  6 Pagesperspective has its own unique way of explaining human behavior. I think that really explains the complex mental processes and behavior, and each prospective study should not be limited to just one. The following is my explanation of the terms and comparisons between the psychodynamic and behavioral aspects relating to the October 2000 article in the American Psychologist., Hunger, eating, and I11 Health, by John PJ Pinel, Sunaina Assanand and Darrin R. Lehman. The view is defined as a psychologicalRead MorePsychology : Psychodynamic And Behavioral Perspectives1320 Words   |  6 Pages Each perspective has its own unique way of explaining the human behavior. I believe to truly explain the complex mental processes and behavior, each perspective must be examined and not limited to just one. The following is my explanation and comparisons between two of these perspectives: psychodynamic and behavioral perspectives pertaining to the article in the American Psychologist October 2000, Hunger, Eating, and I11 Health, by John P. J. Pinel, Sunaina Assanand, and Darrin R. Lehman. The behavioralRead MoreThe Philosophy Of Psychology Is Defined As The Scientific Study Of The Human Mind And Behavior1281 Words   |  6 Pagespsychodynamic approach in psychology. However, Freud’s theory of psychoanalysis originates from the psychodynamic theory. However, overall, the psychodynamic approach includes all theories that were based on his ideas, e.g., Jung (1964), Alder (1927) and Erikson (1950). The psychodynamic approach draws close attention on forces that influence human behavior. Freud concluded that psychoanalysis was an approach used for assumptions that painful memories are hidden in the unconscious mind. Whereas a psychodynamicRead MoreEssay about A Child Called It, The Lost Boy and A Man Named Dave2471 Words   |  10 Pages and was physically small for his age. Though the criteria for determining abuse changes continuously and this is an old citation, I feel it is still valid. Erik Eriksons psychosocial development theory consists of eight stages of development (Erikson, 1950). Each stage is characterized by a different conflict that must be resolved by the individual. When the environment makes new demands on an individual, a conflict arises. The person is faced with a choice between two ways of coping with eachRead More Identity of Humans Essay1936 Words   |  8 Pagesrefers to one’s answer to the question, who am I? 1 To fully understand and grasp the concepts and ideas related to identity, two different psychological perspectives will be explored, as well as three theorists including Sigmund Freud, Erik Erikson, Abraham Maslow, and Carl Rogers. Freud - Psychic Structures Sigmund Freud explored identity through the psychodynamic theory of Psychosexual Development. According to psychodynamic theory, the human personality is characterized by a dynamic struggle asRead MoreHuman Development and The Psychoanalytic Perspective of Personality1396 Words   |  6 Pagessocial influences and was represented by eight developmental stages, each depicted by a specific developmental crises/challenge that all individual are thought to confront; linked to the persons relationship their environment. Contrasting Freud, Erik Erikson put forward stages of psychosocial development that would extend over an individual’s existence of which was made up of trust vs. mistrust (birth to 18 months; in which the important event is feeding), autonomy vs. shame and doubt (2 to 3 years; inRead MoreEriksons Psychosocial Development Theory10839 Words   |  44 Pagescrisis stages model that underpinned his work. Erik Erikson first published his eight stage theory of human development in his 1950 book Childhood and Society. The chapter featuring the model was titled The Eight Ages of Man. He expanded and refined his theory in later books and revisions, notably: Identity and the Life Cycle (1959); Insight and Responsibility (1964); The Life Cycle Completed: A Review (1982, revised 1996 by Joan Erikson); and Vital Involvement in Old Age (1989). Eriksons biographyRead MoreIs Psychology a Science2271 Words   |  10 PagesFreud’s evidence was based on the experiences he gained from sessions with his patients which he then wrote up as case studies. His theories have been adapted by analysts, therapists and psychiatrists such as Alder (1870-1937), Jung (1875-1961) and Erikson (1902-1994). Although Freud’s work has had a great effect on modern societies in psychology Freud is classed as highly controversial. Popper (1959) classed Freud’s work as unscientific as the theories wer e not falsifiable. He proposed that for a theoryRead MoreNotes On Motivation Theory And Motivation3458 Words   |  14 Pagesthe outcome of their performance (Wyk and Erasmus, 2003: 315). Many researchers have worked in the field of motivation over the years, and developed different theories. Maslow s ‘Hierarchy of needs’ theory proposes that an individual’s most basic needs must be met before they will develop higher level desires (Goble, 1970). Maslow created the term ‘metamotivation’ to explain the motivations of those people, which go beyond the extent of their basic needs and instead seek constant improvement. Based

Importance Of Inclusion In Schools - 1820 Words

In this essay, I am going to address why the inclusion of children with behaviour, emotional and social difficulties (BESD) into mainstream education is so important. I will also outline what provisions and procedures I believe schools should have in place to ensure inclusion is seen as a set of practices rather than a completely unattainable ideal. In 2013 ‘53.0% of pupils with statements of SEN were attending mainstream schools (nursery, primary, secondary, academies, city technology colleges), compared to 53.7% in 2012’) (Ofsted 1-14), and with the increase of pupils classified as having BESD the need for an inclusive provision is essential. There are many different views of what ‘inclusion’ means and what constitutes as an ‘inclusive†¦show more content†¦This highlights the importance of the provision of education in the context of inclusion. One of the major problems concerning the inclusion of children with BESD is that there are simply not enough ‘specialist’ staff to provide individualized education programs for each SEN student. As a result in some schools, classrooms have one ‘specialised’ member of staff for all SEN pupils. In addition, school funding cuts are resulting in fewer hours and jobs for teaching assistants meaning children with BESD are getting less individualised care and therefore affecting their education. Wooding perfectly highlights the biggest challenge faced by mainstream education schools seeking to include children with BESD when he states ‘†¦the teacher has only finite time and energy, the school has finite resources, and the more children with special educational needs that the school tries to educate the more difficult it is to cater for the mainstream children in that school.’ (Wooding, 2006). Another challenge faced by mainstream education schools seeking to include children with BESD is the parent s preceding views of said child s experience at a mainstream school. They may believe that their child would benefit from attending a ‘special’ school to be surrounded by other SENShow MoreRelatedThe Importance of Promoting Equality, Diversity and Inclusion in Schools1032 Words   |  5 PagesThe follow assessment will have a brief description of the importance of inclusion and inclusive practices in work with children and young people. And it also contains an exploration of how our own attitudes, values and behaviour may lead to that inclusive practice, how to challenge discrimination and how to promote some important anti-discriminatory and inclusive practices. First of all is important to define what is meant by inclusion and inclusive practice. Inclusive practice is a process ofRead MoreThe Importance Of The Teacher s Inclusive Education Essay1663 Words   |  7 PagesThis essay discusses the importance of the role of the teacher in inclusive education. For several years’ children who suffer with disabilities and learning difficulties where separated and not given the same opportunities. Thankfully changes have been made in the education system and society, showing these children may seem different and may struggle a little more than the average child but they are not stupid and can exceed the expectation for a child of their age. In this essay I will be goingRead MoreInclusion Of Special Needs For Students With Disabilities Essay1174 Words   |  5 Pagesongoing research topic of inclusion. Inclusion, in this area, means the full inclusion of students with special needs in the general education classroom . The research and the d ebates about the issue of whether or not there should be full inclusion of Special Education students in all general education classrooms in all public schools throughout the United States rages on. The number of students with special needs that are included in regular education classrooms in public schools has swollen, and theRead MoreInclusion Of Special Needs For Students With Disabilities1173 Words   |  5 Pagesongoing research topic of inclusion. Inclusion, in this area, means the full inclusion of students with special needs in the general education classroom. The research and the debates about the issue of whether or not there should be full inclusion of Special Education students in all general education classrooms in all public schools throughout the United States rages on. The number of students with special needs that are included in regular education classrooms in public schools has swollen, and theRead MoreInclusive Education Is Not A Marginal Issue1502 Words   |  7 Pageseducation is of upmost importance within our schools. However there is a sense that almost too much weigh has been placed upon this educational approach. â€Å"†¦is central to the achievement of high quality education for all learners†¦Ã¢â‚¬ , at a common sense standpoint this seems unlikely. That inclusion is important is not being argued however the claim that it is central seems like a reach. Another issue is that a central source of ‘high quality education for all learners’ is the inclusion of differentiatedRead MoreTDA 3.61678 Words   |  7 PagesUnit 306 Promote equality, diversity and inclusion in work with children and young people Outcome 1 Promote equality and diversity in work with children and young people 1.1 Identify the current legislation and codes of practice relevant to the promotion of equality and valuing of diversity The education act is based towards the school responsibilities towards children with special educational needs. It means schools must provide resources, equipment and extra support to meet the needsRead MoreAnalysis Of The Article President Bush Announced On A Nation At Risk982 Words   |  4 Pagesthat every child starts school ready to learn; (2) To raise the high school graduation rate to 90%; (3) To ensure that every student leaving the 4th, 8th, and 12th grades can demonstrate competence in core subjects; (4) To make students fir it in the world in math and science achievements; (5) To ensure that every adult is literate and has the skills necessary to compete in a global economy and is able to fulfill the duties of citizenship; and (6) To free American schools I from drugs and violenceRead MoreInclusion For Students With Special Needs1512 Words   |  7 Pagesbeen a long debate for many years over the topic of inclusion. Inclusive education is defined as students with disabilities, being supported in age appropriate general education classrooms, at their home school, and receiving specialized instruction as needed per the student’s IEP (Individualized Education Program) within the general education class curriculum and activities. Inclusion is there to help student with special needs in attending school regularly with their friends and peers while beingRead More Teachers Make It What It Is1012 Words   |  5 PagesTeachers Make It What It Is Inclusion is the integration of the students with special educational needs into the regular education setting. This idea has been spreading across the country where children are no longer being separated due to their needs. But how does this make the teachers feel? One might think that popular opinion would be that it makes it less difficult for them to teach and they do now get to spend the time that they would want to with the â€Å"normal† students, and some do. ButRead MoreThe Importance Of Social Justice And Inclusion916 Words   |  4 PagesIntroduction Social justice and inclusion have become important parts of the modern world, especially within the Scottish education system. They allow pupils to reach their full potential and to become fully integrated whilst at school, regardless of background or disability. However these terms are ever changing and require a lot of thought and determination to be fully fulfilled within schools. This paper will look at the importance of social justice and inclusion as well as considering different

Credit Agricole and BP Free Essays

string(167) " Between 1941 and 1945, under the Vichy government, a Bank Control Commission was established and attempts were made to prevent the creation of new banks or branches\." PARIS (AFP) – French bank Credit Agricole, one of the biggest European banks by capitalisation, reported a doubling of net profit to 1. 0 billion euros ($1. 42 billion) in the first quarter, on Friday. We will write a custom essay sample on Credit Agricole and BP or any similar topic only for you Order Now The price of shares in the bank showed a gain of 1. 40 percent to 11. 23 euros in a market up 0. 57 percent overall. The outcome, marking an increase of 112 percent from the result 12 months ago, was in line with average estimates of analysts as polled by Dow Jones Newswires. At CM-CIC Securities, analyst Pierre Chedeville commented: â€Å"The group is showing its main characteristics again: operating efficiency and an excellent control of charges, very cautious policy for provisioning, and financing and investment activities steady. † Bank chief executive Jean-Paul Chifflet said that Credit Agricole’s direct exposure to Greek debt was 631 million euros at the end of March. Credit Agricole is one of the few foreign banks to control a Greek bank, in the form of Emporiki bank. Company History: France’s â€Å"green bank† was nicknamed for its roots in agriculture. Credit Agricole, composed of the Caisse Nationale de Credit Agricole and 90 regional banks, which together own 90% of the Caisse Nationale, is a unique cooperative organization and one of the most important banking groups in France. In the mid-1800s, it became clear that there was a need for agricultural credit in France, especially after a crop failure in 1856, which left rural areas in dire straits. One of the main causes of low production was a lack of sufficient credit for farmers, who often could not meet banks’ normal credit requirements. In 1861, the government attempted to remedy this problem, asking Credit Foncier to establish a department expressly for agriculture. But the newly formed Societe de Credit Agricole accomplished little. By 1866, though some steps towards improvement had been suggested, the outbreak of the Franco-Prussian War prevented their implementation. The society folded in 1876. Later, several financial cooperatives sprang up independently among farmers, operating in rural towns on a system of mutual credit. In 1885, the first society for agricultural credit was founded at Salins-les-Bains in the Jura; the maximum amount of credit a farmer could get was FFr500, the price of a yoke of oxen. By the end of the century, when talk of modernizing France’s agricultural economy became more urgent, it was decided that this system of localized credit was more suitable for the rural population than credit emanating from a big central bank. In 1894, the Chamber of Deputies proposed a law to organize personal or short-term rural credit, based on the methods of the small credit societies already in existence. The law formalized the requirements for the societies’ formation, made them exempt from taxes, and gave them a monopoly on state-subsidized loans to farmers. In 1897, the Bank of France made funds available to the banks through the minister of agriculture, and in 1899, a law was passed to create regional banks to act as intermediaries between the local societies and the minister of agriculture. The local cooperatives were self-governing societies with limited liability. Their members were mostly individual farmers. Each local cooperative was affiliated with a regional bank, where it transferred all deposits and obtained funds for loans. The local banks elected a committee to control the regional banks, which were mainly responsible for medium- and long-term loans. Thus, the hierarchy of Credit Agricole was established. One of the reasons Credit Agricole was so successful was its reliance on individual farmers. In the mid-1800s most of France’s agricultural produce came from small farms rather than large estates, and the French government wanted to preserve the small family farm for several social and economic reasons. For instance, it was widely believed that small farmers cultivated the soil most intensively and so made better use of it. It was also thought to be better to have many small family farms than to create a â€Å"proletariat† to work on large farms. Nevertheless, France’s agricultural methods were in need of modernization, and Credit Agricole helped small farmers buy new equipment and supplies to improve production. In 1910, a law established long-term personal credit for the purchase of land to encourage young men to farm. Only small holdings could acquire these loans, which could not exceed $1,600, and only young farmers were eligible; their characters were the basis for their credit. When World War I broke out in 1914, the European banking system was under severe duress due to difficulties with the gold exchange. However, gold was still in circulation in France and the Bank of France was able to increase its issue of notes, restoring some financial order. Throughout the war, agricultural production was at a minimum, and Credit Agricole, still a young institution, was able to survive only through continued support from the government. Agricultural output did not regain its prewar level until 1930. In 1920, a law was passed to organize the office National du Credit Agricole, a national society run by civil servants and the elected representatives of the regional banks but controlled by the government–the minister of agriculture would name its director. Office National du Credit Agricole also became responsible for the distribution of treasury loan funds and for rediscounting the short-term loans of local and regional societies. In 1926, the name was changed to Caisse Nationale de Credit Agricole (CNCA). As Credit Agricole grew in resources and capacity, it began to help not only individual farmers but also the cooperative trade movement gaining ground among agricultural groups. These new agricultural cooperatives, which organized industries in a way similar to unions, could often not raise the money to organize, and they needed Credit Agricole’s support. In turn, the cooperatives helped France’s recovery after the war. World War II hurt agriculture less than the first war had, and after the war, there was a period of rapid growth, spurred on by Credit Agricole’s loans. Between 1941 and 1945, under the Vichy government, a Bank Control Commission was established and attempts were made to prevent the creation of new banks or branches. You read "Credit Agricole and BP" in category "Papers" After 1945, however, the Bank of France and the other main banks were nationalized. A hierarchy was born, with the Ministry of Finance and the Bank of France at the top, giving the government the ability to sway the distribution of credit. In this sense, it won even more power to help further Credit Agricole. After the war, agriculture underwent a massive modernization plan. Credit Agricole played a major part by supplying capital for fertilizer, equipment, electrification, and improved water supplies. Since agricultural credit was subsidized by the government, and due to the quality of Credit Agricole’s decentralized commercial network, agricultural institutions had the most rapid expansion rate of all the banks. Between 1938 and 1946, the capital funds of the regional societies increased from FFr1. billion to FFr28 billion. Credit Agricole extended its medium- and long-term loan operations and the government established special loans for farm equipment, causing a big increase in the number of farmers driving tractors. Financing for small farms continued; as late as 1958, cooperatives were favored over large farms. But France’s farm productivity was below that of most other European countries, and some b lamed the low productivity partially on the credit advantages given to small farms, which kept competition at bay. Earnings did not improve and the industry remained dependent on loans. About this time, the government began to apply stringent lending ceilings to the whole financial system to restrain the money supply and hold down inflation. This led many banks to diversify into overseas business and the Eurodollar market. A boom in French exports also created a demand for French banking expertise in the export markets. Credit Agricole, however, held back at first from international expansion, while growing rapidly with the French economy. In 1966, the state decided to allow Credit Agricole to widen its operations to become more flexible than a bank strictly for farmers. Under the new reform, Credit Agricole was allowed to make loans to individuals and organizations not specifically connected with agriculture. It was also allowed to create subsidiaries. One of the most important subsidiaries it created was the Union d’Etudes et d’Investissements, which used its resources to finance individual investments. In 1967, the government announced that all resources collected by Credit Agricole’s regional and local banks, previously deposited in the French Treasury, would now be deposited with the Caisse Nationale de Credit Agricole. In 1971, the Union d’Etudes et d’Investissements, with an eye on important developments in the food processing business, created another subsidiary, L’Union pour le Developpement Regional, which was mainly to provide loans to agricultural and food processing industries or other similar operations in regions where they would create jobs. In July of the next year, the minister of finance, Giscard d’Estaing, warned Credit Agricole about its diversification, pointing out that its purpose must stay mainly agricultural and its activities balance financial and social profit, a recurring political theme in Credit Agricole’s development. Other large banks complained about Credit Agricole’s monopoly on farm credit and its tax-free status, which had allowed it to grow into one of the largest banks in France, while those concerned about farm aid worried that the bank’s purpose would be diffused. Critics blamed Credit Agricole’s expansion on the other banks’ inertia and politicians’ reluctance to attack Credit Agricole for fear of losing the support of farmers. By 1975, Credit Agricole had begun its international activities, focusing mainly on foreign agricultural loans and export companies. In 1977, when the U. S. dollar was low, Credit Agricole ranked briefly as the biggest bank in the world. In 1978, Credit Agricole’s profit of FFr400 million was more than the other three main French banks combined. The bank had begun to finance housing (it is now the leading mortgage lender in France), silo construction, and exports, and had also become a money market lender. After other French banks campaigned for several months against Credit Agricole’s advantages, the government finally curtailed those privileges. Credit Agricole’s surpluses began to be taxed as profits, and for three years, the bank was prohibited from opening new branches in towns where it had no official purpose and competed unfairly with other banks. The compensation the government offered may have added more to Credit Agricole’s growth than the privileges that were taken away. Before the new rules, the bank could only make direct loans in communities of 7,500 people or fewer, but under the new restrictions that limit was extended to 12,000. Credit Agricole continued to push forward with international expansion. In 1979, it opened its first international branch, in Chicago; London soon followed, and a New York City branch opened in 1984. By then, Credit Agricole was also extremely active in funding development in rural areas for roads, telephones, and airports, and the government was encouraging the bank to help out small industry. By 1981. Credit Agricole had several strong subsidiaries: Segespar, which headed the investment-and-deposit service group; Voyage Conseil, a French travel agency; Eurocard France, a payment-card company; Soravie, an insurance company for sales in local branches; Unimat (now Ucabail) and Unicomi, which financed equipment and industrial and commercial building; Unicredit, which provided loans for businesses; and Union d’Etudes et d’Investissements, now heavily involved with rural development. In January, 1981, Credit Agricole’s charter was changed again to allow the bank to provide loans to companies with fewer than 100 employees, whether or not they were connected with agriculture. The government also eased its credit limits for farmers and stockbreeders, and Credit Agricole was no longer limited to lending in towns with fewer than 12,000 inhabitants. However, this wider range was balanced by new limits. Credit Agricole’s tax bill was put in line with those of other corporations, at 50% of its profits. In addition, some of the bank’s earlier surplus earnings had to be channeled back into the government’s loan subsidies. In May, 1981, the Socialists won the national election. Soon all major French banks that weren’t already nationalized became state controlled, and over the next few years, the government imposed a domestic policy of economic austerity in an attempt to reduce inflation, renew industry, and balance its foreign trade account. The next year, Credit Agricole’s foreign assets rose by almost 60%. By 1982, only one-third of its funds went to agriculture. Credit Agricole had already acquired significant experience in the euroloan market, and at the beginning of 1983, it ranked among the most prominent banks in Europe in this area. By 1984, Credit Agricole had opened foreign branches in North America, Europe, Asia, Latin America, Africa, and the Middle East. Some Credit Agricole members were upset by the bank’s strengthening international force. In 1984 an official of a farmer’s union told Business Week that â€Å"given the dramatic situation of hundreds of thousands of farmers, Credit Agricole has better things to do in France. † Nonetheless, Credit Agricole management insisted that international business could only strengthen the company’s ability to help farmers in France. In 1985, Credit Agricole established a subsidiary called Predica to enter the life insurance market. Capitalizing on Credit Agricole’s extensive branch network, Predica had become the second-largest life insurer in France by 1988. As the French economy improved, the government began to ease regulations and remove limitations on capital markets. In 1986, a new conservative government came into power, and several Socialist officials were replaced almost immediately, including Jean Paul Huchon, Credit Agricole’s general director. A plan to remove CNCA from state control had been brewing for some time; many other banks were in the process of becoming denationalized. Huchon had opposed this plan for Credit Agricole vehemently enough to cause his dismissal. His successor was Bernard Auberger, a former director of Societe Generale with ties to the Gaullist Party, which had campaigned to rid CNCA of state control. The new government also created easier bourse membership rules that allowed outside interests to buy into investment brokers. Following the trend of many banks after this deregulation, in 1988 Credit Agricole purchased controlling stakes in two Paris stockbrokers, Bertrand Michel and Yves Soulie. Finally, in 1987, the government began to take steps towards freeing CNCA from state control. On February 1, 1988, the state sold 90% of CNCA’s common stock to its regional banks and the company was incorporated with FFr4. 5 billion in capital stock. Most of the rest of its stock went to employees, and the government holds a small stake. Soon after the mutualization, the newly private Credit Agricole began merging the Caisses Regionales to eliminate redundancies. By January, 1990 the number of district banks had been reduced from 94 to 90 and this number is expected to shrink substantially before the rationalization is over. The transition to private ownership was not completely smooth, though. A boardroom struggle in 1988 led to the exit of Bernard Auberger. Philippe Jaffre, who was the finance ministry’s representative on CNCA’s board of directors, was Auberger’s surprise replacement. In 1989 Credit Agricole ceased to have a monopoly on the shrinking number of subsidized loans to farmers. In losing this monopoly, Credit Agricole lost an important, captive customer group. The bank should be able to compensate for this loss, however, with the new business it expects to pick up as a result of the lifting of restrictions on its business. When Credit Agricole lost its monopoly on subsidized farm loans, it was also freed of the unusual government restrictions on its business. Now Credit Agricole operates in much the same way as any other French bank, and it expects its business to improve rather than suffer as a result of this status. Under Jaffre, Credit Agricole, like all European enterprises, faces the challenges that the 1992 unification of the European Economic Community will bring. The bank has already made a successful transition from a purely agricultural bank into a full-service bank. Privatization should give Credit Agricole the freedom and flexibility it will need to face these challenges, but it will have to struggle with its slightly awkward structure–the 90 regional banks that control parent CNCA diffuse central decision-making power–and tackle operating costs that are much higher than its competitors’. If it can surmount those obstacles and capitalize on its tremendous domestic branch network, Credit Agricole will be an even more formidable European competitor than it already is. Principal Subsidiaries: Union d’Etudes et d’Investissements; Unicredit (98. %); Sopagri (52. 8%); Unimmo France (99. 6%); Unidev; Sofipar (52. 6%); Ucabail; Segespar; Segespar-Titres (50%); Predica (48%); Unibanque; Sogequip; Cedicam (50%). Source: International Directory of Company Histories, Vol. 2. St. James Press, 1990. Credit Agricole in management reshuffle Kit Chellel 01 Dec 2010 The chief executive of Credit Agricole corporate and investmen t bank has been replaced after two years in the job as part of sweeping management changes across the French bank under the direction of new group chief executive Jean-Paul Chifflet. Patrick Valroff, aged 62, will stand down to make way for Jean-Yves Hocher, who will also continue in his current role as deputy chief executive of the group. The board of Credit Agricole held a meetings on yesterday and today before announcing a series of management changes. Jean-Paul Chifflet was appointed chief executive in March and has indicated that he intends to overhaul the group’s strategy. The new 10-year strategic plan will be released later this month. Within Credit Agricole’s corporate and investment banking unit, a new xecutive structure sees deputy chief executive Pierre Cambefort taking over responsibility for coverage, investment and corporate banking and the international network, while head of risk Francis Canterini has been appointed deputy chief executive in charge of support functions. Elsewhere, Alain Massiera, the deputy chief executive of Credit Agricole CIB has been appointed as head of the private banking business. It is understood that Valrof f was brought in at the height of the financial crisis refocus the business, a role which he has completed successfully following three successive quarters of profits. A spokesperson confirmed he would remain at the bank in another capacity. In August, Credit Agricole recorded an 89% rise in profits to â‚ ¬379m following strong performance in its corporate and insurance divisions. Other management changes unveiled today include the appointments of Yves Nanquette as chief executive of Credit Agricole LCL (retail) replacing Christian Duvillet, and Jerome Grivet as chief executive of the bank’s assurance arm replacing Bernard Michel. Thierry Langreney took over as chief executive of the Pacifica insurance division from Patrick Duplan. All three outgoing chief executives have retired. How to cite Credit Agricole and BP, Papers

Comparison between two passages from Dart Essay Example For Students

Comparison between two passages from Dart Essay The passages I have chosen are the one with the naturalist (p.5 from â€Å"shhh I can make myself invisible† to â€Å"here was an otter†. It will be referenced as the first passage) and the one with the Woolen Mill (p.18-19 from â€Å"I, Pol de Zinc† to â€Å"this straighten ones a blackface from Scotland†. This one will be the second passage). These two extracts have common points but they include differences as well. Their major common point is that we notice in them an expert language, we feel there is experience and knowledge in the skill, the competence theyre about. For example, in the first passage, some expressions as â€Å"x and y† or â€Å"breeding† show there is some knowledge behind this telling. In the other extract, the words â€Å"detergent†, â€Å"non-ionic†, â€Å"relatively free of calcium† or â€Å"spinning at 5,000 rotations per minutes† show as well some professional competence in the subject. Another common point is the mention of isolation in both of these excerpts (which maybe are here to help the expert to realise a better observation of the theme presented). Indeed, in the second passage, we notice at the beginning a series of names (â€Å"William Withycombe, Alex Shawe, John Dawe, William Friend†) preceding two words: â€Å"and I.†. This suggests an exclusion, an isolation, as if the narrator was and/or wanted to be apart from the others. In parallel, we read in the first passage the very first verse in which he says â€Å"shhh I can make myself invisible†; this verse suggests an atmosphere of silence and solitude. So we can conclude that he really needs to be alone, maybe to do his job effectively and obtain what he wanted by observing the nature, in silence. So as we can see, these passages have common points, but they also have many differences. Firstly because the first passage concerns nature, the voice of the poem seems passionate and blended in with nature, while the second passage is more about machines, it is more technical and industrial. By the way, the verse â€Å"reasonably biodegradable† means the operation isnt totally biodegradable and so it pollutes water, which actually is a serious issue for the naturalist. In this extract we hear a more complaining voice, as if the narrator is conscious of this pollution problem and feels responsible for it. Still in this passage, we notice a little touch of humour: â€Å"Unfortunately sheep dont use loopaper.†, which actually breaks the rhythm of the poem. In opposition, we dont notice any humour in the first extract, and this shows some serious talking and it will keep the harmony at best. In fact, there is a very discrete common point between the two excerpts which actually seems to turn out into a difference: in the second passage we can read near the end â€Å"That smell of old wet sheep†; this verse provokes, of course, a reaction of disgust. However, there is the same kind of disgusting expression in the first passage -as for example â€Å"moist places†- though this time the reaction of disgust seems surprisingly absent. So, naturally, both of these expressions are disgusting, but it is easier to feel it in the second passage rather than in the first one. Another difference is the environment in which the scenes are described; passage one shows an image of nature, without any machines or any polluting aspect, but it also shows harmony with nature and the simple act of observing the beauty of the nature itself. Contrarily to this, passage two offers a more factory atmosphere, with -this time- machines and pollution; there isnt any positive relation or harmony with nature. So this is an important and remarkable difference between these two extracts. .ufc36871b02a47bd06c9e5df9145f30f8 , .ufc36871b02a47bd06c9e5df9145f30f8 .postImageUrl , .ufc36871b02a47bd06c9e5df9145f30f8 .centered-text-area { min-height: 80px; position: relative; } .ufc36871b02a47bd06c9e5df9145f30f8 , .ufc36871b02a47bd06c9e5df9145f30f8:hover , .ufc36871b02a47bd06c9e5df9145f30f8:visited , .ufc36871b02a47bd06c9e5df9145f30f8:active { border:0!important; } .ufc36871b02a47bd06c9e5df9145f30f8 .clearfix:after { content: ""; display: table; clear: both; } .ufc36871b02a47bd06c9e5df9145f30f8 { 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; } .ufc36871b02a47bd06c9e5df9145f30f8:active , .ufc36871b02a47bd06c9e5df9145f30f8:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ufc36871b02a47bd06c9e5df9145f30f8 .centered-text-area { width: 100%; position: relative ; } .ufc36871b02a47bd06c9e5df9145f30f8 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ufc36871b02a47bd06c9e5df9145f30f8 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ufc36871b02a47bd06c9e5df9145f30f8 .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; } .ufc36871b02a47bd06c9e5df9145f30f8:hover .ctaButton { background-color: #34495E!important; } .ufc36871b02a47bd06c9e5df9145f30f8 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ufc36871b02a47bd06c9e5df9145f30f8 .ufc36871b02a47bd06c9e5df9145f30f8-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ufc36871b02a47bd06c9e5df9145f30f8:after { content: ""; display: block; clear: both; } READ: The impact of a Christian Worldview in the family EssayAnd finally, the last difference is that for each of these passages, we find its proper aspects; passage one delivers natural aspects, as well as nature observations: â€Å"I saw it eat an eel alive†, â€Å"I can see frogs hiding under spawn†. And passage two gives us more technical and chemical aspects: â€Å"spinning at 5,000 rotations per minute†, â€Å"its relatively free of calcium†. So this really shows each extract has its own theme and specific images. To conclude this, we can say that these two passages from Dart are indeed conflicting and have many differences and their own aspects and themes, even if some common points are noticeable, and this is maybe what links them with each other and help in the effectiveness of the construction of the whole poem.