Ethical and Legal Issue Essay

How personal and societal values can influence ethical decision- making process when nurses are faced with ethical issues, nursing has long advocated a nonjudgmental approach to care. Nurses need to able to apply ethical principle in decision- making and consider their own values and belief and the values and belief of the client. As nurses we have the responsibility to protect the right of the client by acting as client advocate. According with Blais, Hayes, Kozier and Erb (2006) values are freely chosen, enduring belief or attitudes about the worth of a person, object, idea, or action. Freedom, courage, family, and dignity are example of values. Blais it al (2006) stated that values frequently derive from a person’s cultural, ethic, and religious background; from societal tradition; and from the values held by peer group and family. In the malpractice case, she faced with an ethical-legal conflict; ethical and legal conflicts are not synonymous. There are times in professional practice when the legal requirement does not appear compatible with ethical approach. Nurses may place themselves in legal jeopardy when they opt for what they see as the ethical or â€Å"right† thing to do, in spite of what is inherent in the law as that apply. In this case the nurse has acted as a client advocate and notify to the admintration about the situation she was witnessed. She may be was influenced by societal values, of human life and individual right. In Marianne case we as nurse have to respect family decision but at the same time patient values by been advocate by remind them to keep in mind what would has Marianne wishes.

Alliance Bank Essay

1. Introduction Alliance Bank is one of the leading banks in Kazakhstan, and it is the tenth largest bank in terms of assets in Kazakhstan. Headquartered of the bank are located in Almaty. Bank is developing as a universal financial institution in all lines of business, with a primary focus on retail banking and lending to SMEs.JSC Alliance Bank, has been operating for over 15 years. Recently bank has been shadowed by number of scandals, which had a negative effect on its reputation. In February, 2009 the government appointed a new management team after its key shareholder, SAFC, rejected to support the bank in long-term. During the financial crisis Alliance Bank was the first bank to default. By 2010 its debts were restructured and government had to inject 24 billion KZT on its deposit account in order to save the bank. Since the restructuring, state-owned National Wellbeing fund Samruk-Kazyna is holding 67% of the bank’s shares. In 2012 Alliance was judged to be stable with a Standard and P oor’s rating of â€Å"B-†. Today Alliance’s long-term credit rating by Standard and Poor’s is stated at â€Å"D†, together with short-term rating. In 2011 bank considered talks with European Bank for Reconstruction and Development regarding the potential sale of its shares. In February 2014 bank has suffered from technical default. Later in February, the bank’s reputation suffered even more after SMS-attack on three banks about their default. Alliance Bank’s mission is to be a reliable partner for each  customer and meet the best banking practice. The basis for this statement is bank’s philosophy of meeting the needs of society as quality financial services. Main principles of bank’s corporate culture include classical principles of fairness, trust and apolitical relation. These principles work as the basis for existence of commercial bank as a social institution, which aims to combine and unite interests of different groups of people – shareholders, employees, customers and partners. The vision of the bank is â€Å"Look at things in a new way!† The Bank’s primary business is related to commercial banking activities, granting of loans and guarantees, accepting deposits, exchanging foreign currencies, dealing with securities, transferring cash payments, as well as providing other banking services in the Republic of Kazakhstan. The main goal of the bank’s activity is to earn income through the provision of banking services, for legal and physical entities, residents and non-residents of Kazakhstan, establishment of direct contact with international institutions for the development of External Relations, improvement and strengthening of business cooperation with foreign organizations. 2. External analysis PESTLE analysis PESTLE analysis or PEST stands for auditing the Alliance Bank’s current environment and assessing its potential changes by looking at the organization from different angles in order to be better placed than its competitors and make plans for future events in terms of responding to the rapid changes in the macro-environment. It contains the factors such as political-legal, economic, socio-cultural, and technological. Considering and understanding all these factors that influence the business, the information about the risks associated with the situation in the market will be clarified. Moreover, using the PESTLE analysis, it is possible to maximize opportunities and minimize threats for the Alliance Bank. Political-legal forces provide information about the political situation in the country and current legislations that regulate the industry. Businesses can be affected by many aspects of government policy. In particular, all businesses must comply with the law. They must also consider the impact of any forthcoming legislation on their operations. This may require taking action before the legislation comes into effect. Today a political factor,  which would affect Kazakhstani banks, and in particular Alliance Bank, is the Ukrainian political instabilities. Russia and Ukraine have bad political relations, and it leads to trade barriers as well. As Kazakhstan is a member of Custom Union, of course, any instability in Russia could influence Kazakhstani market as well. As an example, recent devaluation of Russian Ruble will bring very negative effects in both Kazakhstan and Belarus Republic. This instability might lead to declining on the foreign investments to Alliance Bank that they were recently asking from London creditors. Also on the 26th of December 2012 the President of the Republic of Kazakhstan signed the Law â€Å"About Modification and Additions in Some Acts of the Republic of Kazakhstan concerning the Taxation†. One of the amendments to the law says that from the January 1st, 2014 the conscientious taxpayers may postpone paying the accrued tax liability for not more than 3 years w ithout having any collateral or fund for restricted cash. It will help the Alliance Bank to save the amount of money in the current period in order to invest it if needed in some other activities. Economic forces focus on the prevalent economic factors. Evaluating one of them which is the average monthly wage in Kazakhstan, the Agency of the Republic of Kazakhstan’s Statistics provides the following data: in March 2010 the average monthly wage is equal to 72 000 KZT, in March 2011 the amount is 87 000 KZT, in February 2012 it is presented as 92 000 KZT, and in February 2013 it has increased to 98 736 KZT. Such a picture of the wage growth is very positive and beneficial for the Alliance bank because the bigger amount of clients is willing deposit their money to bank accounts. Another not less important economic factor to consider is the inflation rates. According to the Agency of the Republic of Kazakhstan’s Statistics, in 2011 the inflation rate in Kazakhstan was 7.4%, in 2012 it was 6%, and in 2013 it decreased to 4.6%. Due to recent devaluation of Kazakh Tenge, the forecast of inflation in 2014 is going to increase. The increase of inflation rates will lead to increase in interest rates, which will decrease the number of clients of the bank. Another important economic factor is GDP per capita in Kazakhstan. Kazakhstan government is putting a huge afford to improve the lifestyle and living conditions of its people. The government set two crucial strategies; Strategy2030 and Strategy2050. According to these strategies, Kazakhstan must be listed among the developed countries of the  world. One of the requirements of these strategies is raising GDP per capita. According to Dosayev, the GDP per capita will reach to $14,600 and it is expected to rea ch to $24,000 in 2018. Accordingly, the products of the bank will become more popular among the population. Social forces are the next. In this case they may be presented as demographic trends. Population of Kazakhstan for the 1st of March 2013 has increased by 1.4%, according to the report of the Agency of the Republic of Kazakhstan’s Statistics. Nowadays it is more than 17 million people who are living in the territory of Kazakhstan. Actually, the new migration policy for oralmans (people whose historical place to live was Kazakhstan), and people who arrive to the cities from urban areas is a good advantage for the bank. The President of the Agency of the Republic of Kazakhstan’s Statistics Alikhan Smailov noted that the average life expectancy in 2014 will be at the age of 70. According to the data for 2012 it was less and the actual number of years was 69 per person. Technology is another very important role in bank’s internal control mechanisms as well as services offered by them. Through the use of technology new products and services are introduced. It includes technological aspects such as R&D activity, automation, technology incentives and the rate of technological change. Some of the technological changes which brought radical changes in banking industry in Kazakhstan, and especial in Alliance Bank are described below: Automated Teller Machine (ATM) The latest developments in terms of technology in computer and telecommunication have encouraged the bank to change the concept of branch banking to anywhere banking. The use of ATM and Internet banking has allowed anytime, anywhere banking facilities. IT Services & Mobile Banking Today banks of Kazakhstan are also using SMS and Internet as a major tool of promotion and giving great utility to its customers. For example, SMS functions through simple text messages sent from your mobile phone. Technology advancement has changed the face of traditional banking systems, it is even offering 24/7 banking even faster and secured service. Alliance bank definitely should look after all technological changes in banking industry both within Kazakhstan and on International level, because it really matters, and differentiate service of the bank. Porter’s Five Forces The Kazakhstan banking system has experienced many difficulties in recent years, as well as huge growth. Last year was marked by the successful completion of the restructuring of debts of the three largest banks in the Republic of Kazakhstan: BTA Bank, Temirbank and Alliance Bank, which defaulted in 2009. Nevertheless, Kazakhstan’s banks currently operate in a very challenging external and internal environment which of course could reflect their financial stability, way of development in future years and their ability to find new appropriate business models. Kazakhstan’s banking system suffered due to a liquidity crisis less than its peers (e.g. Ukraine, Kyrgyzstan). Measures of the Government of the Republic of Kazakhstan to maintain stability of the banking system and the infusion of funds into the capital’s largest banks, had its effect – not one bank in Kazakhstan has not been declared bankrupt, the investors could easily withdraw their funds, there we re no signs of the banking panic among the population. So, the main current advantage of Kazakhstan’s banking system is the stability which is a very serious and necessary feature at the Commonwealth of Independent States. Threat of New Entrants: Banking industry deals with other people’s money and financial information new banks find it difficult to start up. Due to the nature of the industry, people are more willing to place their trust in big name, well known, major banks who they consider to be trustworthy. The banking industry has undergone a consolidation in which major banks seek to serve all of customers’ financial needs under their roof. This consolidation furthers the role of trust as a barrier to entry for new banks looking to compete with major banks, as consumer are more likely to allow one bank to hold all their accounts and service their financial needs. Ultimately the barriers to entry are relatively low for the banking industry. While it is nearly impossible for new banks to enter the industry offering the trust and full range of services as a major bank, it is fairly easy to open up a smaller bank operating on the regional level. Large financial resources are needed in order to open own bank an d enter on the financial market. Authorized capital  must be 5 billion Tenge, except other expenses (advertising campaigns, open own office, purchasing equipment and software etc.) Power of Suppliers: Capital is the primary resource on any bank and there are four major suppliers (various other suppliers like fees contribute to a lesser degree) of capital in the industry. Customer deposits Mortgages and loans Mortgage-baked securities Loans from other financial institutions By utilizing these four major suppliers, Alliance bank can be sure that they have the necessary resources required to service their customers’ borrowing needs while maintaining enough capital to meet withdrawal expectations. The power of the suppliers is largely based on the market, their power is often considered to fluctuate between medium to high. Suppliers for Bank are depositors and shareholders. Alliance Bank is interested in attracting outstanding depositors and principal shareholder. The main purposes are: correct invest invested funds; to ensure payments under the deposits and the shares; to make up owner’s operating expenses; to get a certain profit Power of Buyers: The individual doesn’t pose much of a threat to the banking industry, but one major factor affecting the power of buyers is relatively high switching costs. If a person has one bank that services their banking needs, mortgage, savings, checking, etc, it can be a huge hassle for that person to switch to another bank. Alliance Bank has 2 million customers who have a bargaining power and can switch to any other bank due to bank’s current situation. Availability of Substitutes: Some of the banking industry’s largest threats of substitution are not from rival banks but from non-financial competitors. The industry does not suffer any real threat of substitutes as far as deposits or withdrawals, however insurances, mutual funds, and fixed income securities are some of the many  banking services that are also offered by non-banking companies. As Alliance bank primarily offers commercial banking services, it does not suffer any threat of substitutes. Competitive Rivalry: The banking industry is considered highly competitive. The financial services industry has been around for hundreds of years, and just about everyone who needs banking services already has them. Because of this, banks must attempt to lure clients away from competitor banks. They do this by offering lower financing, higher rates, investment services, and greater conveniences than their rivals. There are two giant banks in Kazakhstan, Kazkommertsbank and Halyk Bank, which hold 18% and 19% of total asset of Kazakhstani market, whereas Alliance bank holds only 4%. Therefore, the above mentioned banks are the competitive rivalry of the Alliance bank’s services. 3. Internal analysis SWOT analysis The key factor in the bank’s strategic planning is SWOT-analysis. SWOT-analysis methodology suggests: first, to identify the internal strengths and weaknesses of the company as well as the external opportunities and threats, and secondly, to establish connections between them. The SWOT-analysis of Alliance Bank is described below. Strengths Weaknesses Support of Samruk-Kazyna Years of experience Extensive branch network Extensive acquiring network (ATMs, cash-in ATMs, POS-terminals) Innovative technologies Professional bank management Brand name recognition (recent rumors about bank default) Low-speed service with a large flow of clients Low-level promotion of banking products Shrinking loan portfolio Opportunities Threats The tenth largest bank in terms of assets in Kazakhstan Development of technology (Online banking, fingerprints) Geographic expansion Long-term partnerships with major companies Cover new demands of current customers Expand the customer base Publicly traded on KASE Customer dissatisfaction with new banking products Increased competition Unstable economy of the country (possibility of a financial crisis, devaluation of the local currency, inflation) Changing legal and tax provisions The possibility of clients default Change in oil prices Increased regulation of capital requirements Strengths of Alliance bank are the characteristics of the business that give it an advantage over the competitors. These characteristics may include personnel, finance, and manufacturing capabilities and so on. Weaknesses are the attributes resources that work against a successful outcome. Strengths and weaknesses are internal attributes and the company can use its strengths to liquidate the weaknesses. For instance, Alliance Bank JSC has an extensive branch network including 19 branches and 106 cash offices in 51 cities and rural settlements of the Republic of Kazakhstan. They can use their extensive branch and acquiring network to increase the level of promotion of banking products in cities and rural areas. Another example is to use the innovative technology to deal with low-speed service when there is a large flow of clients. The bank could automatize its operations. Opportunities are the external factors the business can capitalize on or use to its advantage. Alliance bank has a n opportunity to expand geographically to new markets. For instance, Kazkommertsbank has branches in different countries of Central Asian region, which allows them to expand their customer base and increase their profits. Threats are the external factors that could jeopardize the business. External factors may include  macro-economic factors, technological changes, legislation and socio-cultural changes as well as changes in the market place or in competitive position. For example, due to the recent devaluation of KZT in February, 2014 Alliance Bank customers withdrew 55 billion KZT in two weeks from the moment of the announcement of the devaluation. As explained to the bankers, since the beginning of the National Bank’s announcement of the devaluation in the period from 11 to 17 February, investors withdrew 25 billion KZT from their accounts. And after the SMS-attack, in the period from 18 to 21 February, another 30 billion were withdrawn from the bank. This amounted to one third of the deposit base. Conducted SWOT analysis helps to analyze how our Company proceeds and what kind of opportunities and strengths we have, additionally, it helps to identify what threats and weaknesses we have. One of the basic strength of our company is experience that we have in banking industry. Alliance Bank is supported by SamrukKazyna fund, which is trust-worthy fund. Another strength is extensive branch network, which allows bank to operate in 51 cities and rural areas of Kazakhstan. Due to recent financial problems, bank is trying its best to deal with these kinds of strengths in order to overcome financial distress and possibility of new technological default. Recapitalization of bank by the government resulted in injection of 24 billion KZT. SamrukKazyna owns today 67% of shares of the bank, and bank is looking for opportunities of finding capital investors in order to buy shares of the bank. VRIO analysis The VRIO Analysis is an analytical technique which for each type of resource considers the following questions (evaluation dimension) for an organization as well as for its competitors. In practice, the VRIO analysis is also used in combination with other analytical techniques to help organizational management evaluate business resources in a more detailed view. For financial resources, there are many detailed financial indicators that evaluate the financial condition or performance of the business from different perspectives. Likewise, humanresources, property or information are other detailed indicators of their performance, efficiency or quality. The advantage of a VRIO analysis is its simplicity and clarity. Value Chain Product Development Alliance Bank has two primary product offerings: personal banking and commercial banking. Commercial banking is the largest of these, comprising more than half of the bank’s portfolio. Commercial blends are segmented by business size and feature a combination of accounts, credit cards, lines of credit, merchant services and cash/investment management services. Personal banking blends are segmented by customer age and include services such as checking and savings accounts and credit cards. Product Support Suppliers Alliance Bank leverages and backs up its products with hedging instruments in order to maintain a stable financial base. This involves in-house development of a diversified portfolio, market analysis of deposit versus lending activities as well as the purchase of risk-hedging tools to back its  lending products. However they have to increase the efficiency of their product development. Marketing Alliance Bank has differentiated itself within the crowded field of commercial banking through its marketing and brand-building efforts, steadfastly emphasizing customer service andalso reframing theirs as a retail organization. Alliance Bank has established a brand strongly. Over the past years, Alliance Bank has invested heavily in rebuilding a brand image which was negatively affected during the financial crisis on 2009. Alliance promotes itself as an â€Å"innovative, customer friendly retailer of financial products and services† whose aim is â€Å"to connect with the public on an individual level†. They have pursued this strategy through more traditional (TV, radio, brochures, newspapers and billboard) campaigns. Sales and Service Service is a critical differentiator for a community bank because most financial products are homogeneous. It therefore makes sense that Alliance has made unsurpassed service a key strategy company-wide. Much like Alliance’s efforts at creating a community atmosphere, this strategy could be easily replicated by other banks. Here Allianceis afforded at least a competitive parity. Information Technology and Human Resources Human Resource Development and Information Technology are two underlying segments of Alliance’s value chain that support all their other lines of business. For its part, IT’s strategic relevance is limited by the simple fact that most banking platforms are acquired from third-parties due to their huge development and support costs. These platforms tend to constrain service because they are geared more towards security and stability—for obvious reasons—than flexibility. IT is therefore generally a threat to Alliance’s quest to provide innovative banking solutions. HR, on the other hand, is a strategic asset that Alliance continually employs to support their unique service culture. HR has successfully managed the organization’s culture via a variety of methods: ongoing employee development/training programs, astute hiring practices, etc. 4. Recommendation (Corporate Strategy) Before making the recommendation concerning the Corporate Strategy, the profound analysis of the Company overview was made. Because of devaluation in Kazakhstan, the company is on the stage of technical default. Meantime, the financial sector in Kazakhstan is very vulnerable and some of the banks’ situation is becoming even worse. Alliance Bank is looking for new opportunities to get out of this situation. According to Madina Abdina, the head of Almaty branch of Alliance Bank, the bank is looking for investors to do restructure. This activity will save the bank from the bankruptcy. According to Banking Report of the Republic of Kazakhstan, Alliance Bank holds only 4% of total asset of Kazakhstani market. It means that Alliance Bank is not as big as â€Å"Halyk Bank† or â€Å"Kazkommertsbank†. Nevertheless, the company managers and employees doing their best to save their bank. One of the most optimal recommendations during this period would be to restructure the bank. When the bank returns the previous position, then it could look at other opportunities, which we will offer. We will recommend the bank to apply growth strategies. First is, through concentration strategy. The company can launch new services within the business or expand its business through expanding its geographic locations. We will talk about this issue later in this part. The first recommendation is that Alliance Bank should sign a Strategic Alliance with market’s giants; â€Å"Kazkommertsbank† or â€Å"Halyk Bank†. According to Banking Report of the Republic of Kazakhstan, â€Å"Kazkommertsbank† and â€Å"Halyk Bank† hold 18% and 19% respectively. This would be a good chance for Alliance bank to expand its business and to have new customers, but they should offer a good proposal to those banks. Another recommendation is offering new service as a product development. According to Forbes, Insurance is one of the most profitable businesses. Of course, there are many insurance companies in Kazakhstan, but according to the World Bank, life insurance still has not developed in Kazakhstan. Therefore, Alliance Bank can open an insurance company under the financial sector. The next recommendation relates to concentration strategy. The purpose of a concentration strategy is to provide a singular focus to the product line, and the market in which the company chooses to compete. The concentration strategy may be approached through market development or product development. In the case of Alliance bank, we recommend to concentrate on  market development through geographic expansion. In today’s rapidly globalizing economy, a well-planned and properly managed geographic expansion can help a business reduce costs, gain access to new markets and fuel the company’s future growth. In his article â€Å"The Effects of Geographic Expansion on Bank Efficiency†, Berger and DeYoung note that geographic expansion may allow scale or scope efficiencies that reduce costs or enhance revenues. Linking branches, ATMs, and back-office facilities over a larger geographic area may yield network economies. A more geographically broad institution may also be better able to serve business customers that have many locations, and may have a broader menu of potential new investment opportunities outside its home market. As we can see, there are numerous advantages of geographic expansion. In case of Alliance bank, it can open its branches in neighboring Central Asian countries, like Tajikistan and Kyrgyzstan. Known to all, those countries are the least developed countries in the region and Alliance bank is able to introduce many new things to these markets. The products and services that are not highly accepted in Kazakhstan due to a big number of good banks in this region can have a greater success in Tajikistan and Kyrgyzstan. The main reason is that the banking system is not highly developed in those countries and there is a lack of good banks there. The example of a Kazakhstani bank that expanded geographically is Kazkommertsbank. It already has its successfully operating branches in Kyrgyzstan, Tajikistan and the Russian Federation. Alliance bank has the same potential to succeed by geographic expansion. In the long term, Alliance Bank can expand to other regions of the world, access new markets and grow in the future. 5. Recommendation (Business Strategy) Due to rapid development of technology, Alliance bank can use an opportunity of creating a more developed SMS-banking system. SMS-banking is type of mobile banking, which allows customers to operate selected banking services over their mobile phones using SMS-messaging. Alliance Bank already had implemented internet banking. Still, it is not widely used among its customers due to inconvenience of usage. Bank has to promote its online banking system and SMS-banking very actively so that customers get to know the services of bank. By developing the SMS-banking, Alliance Bank will have a chance to compete with its rivals, differentiate its services from other  banks, which do not have internet-banking and SMS-banking yet. SMS-banking is well developed in international banks, as well as in Kazakhstan. One of the banks that use this system is Kazkommertsbank. Thus, Alliance Bank can differentiate its services by using one more feature to its customers. SMS-banking is very trustful, safe application that allows doing following operations: Balance enquiry Statement request Fund transfer to account number Fund transfer to mobile number Current exchange rates information; deposit interest rates Bank could spread new offerings, i.e. do mobile marketing through the SMS-banking, which allows decreasing the amount of funds spent for marketing. Bank could also use one of the latest tools against cyber-fraud – One-time password. OTPs are requested each time customer wants to perform transactions. Once password is used, it expires. Most of SMS-banking solutions are add-on products, which work on bank’s existing platform. Today, however, some companies develop independent applications that allow using SMS-banking. For instance, Alliance bank has access to â€Å"SMS banking† application for Apple products. The problem with this application is that it is only available for Apple products and also it is not easy to use. Ratings of users remain very low. There is one more application available for android system, called â€Å"Handpay†. This application, however, is also not easy to use, requires high speed of internet. Payment is only withdrawn for SMS-requi ries sent to the bank. However, customers do not find it useful. Therefore, we suggest developing a new platform for the bank. Firstly, it will increase the safety of operations for customers. Secondly, it will allow bank to charge customers with monthly fee (200 KZT for example), which is additional source of income. Thirdly, it will allow bank to spread information about new products without spending money for advertisement (through pull messages). Another business strategy recommendation for Alliance Bank is to introduce a new service – pension accounts. This is very convenient service for Alliance Bank subscribes because their long term clients will stay with their bank even during pension period. This service gives an opportunity for pensioners to get their pensions and make other  transactions with the same account. Alliance Bank should think about new activities which differentiate them from their competitors. One of such activities is launching pension cards for free. Another activity which our team recommends to Alliance Bank is that the bank should offer pensioners to buy or order Internet transactions with lowest possible rate. Pension accounts will give Alliance Bank and additional opportunity to expand its network. 6. Recommendation (Functional strategy) The functional strategy of the bank should be based on both recommendations on corporate and business strategies that our team offered. Different departments in the bank, such as Human Resource, R&D, Marketing and Accounting/Finance realize functional strategy. The main aim of functional strategy is to assure that corporate and business strategies implemented by the bank are successful. Alliance Bank should implement following activities for each of the above-mentioned departments: Corporate Strategy Business Strategy Strategy/ Department Strategic alliance Insurance Company Geographic expansion SMS Banking Pension account Marketing Think of appropriate way to deliver this message to customers Calculate efficiency of these alliance Use Push marketing Think of appropriate way to enter insurance market Use Pull marketing Contact local advertising agency to plan their marketing campaign for entering new market Use Pull marketing Think of appropriate way to deliver this message to customers Use Push marketing Think of appropriate way to deliver this message to existing clients Use Push marketing H&R Select new manager for executive position Hire new personnel for new company Select and send their specialist to the new market Hire new local people for different positions Train the local personnel Hire appropriate IT specialist Teach marketing team the usage of the technology Assign a team from existing staff R&D Make research before the implementation of alliance Monitoring the efficiency of alliance Technological leader Research about current market on insurance industry Technological follower Research on the situation of the banking industry in Tajikistan & Kyrgyzstan Technological leader Research sms-banking application and find the most appropriate and easy to use Technological follower Technological follower Accounting/Finance Create pro-forma statement Find the most appropriate investors Find the ways to minimize the costs of opening the new business Calculate the future profits of the company Consider the opportunity of debt financing versus equity financing Find the ways to minimize the costs of opening the new business Calculate the future profits of the company Create pro-forma statement Create pro-forma statement 7. Implementation According to our recommendations, Alliance Bank should introduce; 1) Strategic alliance with Kazkomertsbank and Halyk Bank, 2) Introducing insurance company, 3) Geographic expansion under corporate strategy. Additionally, there were some more recommendations under the business strategy such as: SMS banking and pension account. Accordingly these new activities and businesses will change organizational structure of Alliance Bank and may introduce new management strategy. For signing Strategic Alliance, the bank itself will be responsible for all documentations. As for introducing insurance company, the company will have another division with responsible management. This would be the example of divisional type of organizational structure. In case of opening Alliance Bank’s branches in Tajikistan or Kyrgyzstan, the company should have a new managerial position with all functional areas in both countries. Here, Alliance Bank showing the geographic type of organizational structure. General Manager of both country branches will rapport to CEO of company in Kazakhstan. As about introducing SMS banking, the Engineering Manager and R&D Manager will be responsible for launching this service. When this service starts operating, a new manager should coordinate this service. In case of pension account, a new manager under the CEO of Alliance Bank will be assigned. In last two activities Alliance Bank will have the combination of functional and matrix types of organizational structure. It shows that implementing our recommendations will change the organizational structure of Alliance Bank significantly. 8. Conclusion The current situation of Alliance Bank makes the managers to think about new strategic plans in order to survive further. The company’s external and internal analyses show that company can introduce new activities and businesses which would be profitable for Alliance Bank. Our recommendations are based on analyses of SWOT, VRIO, Value Chain and PESTLE. Alliance Bank should introduce corporate strategies as Strategic Alliance with Kazkommertsbank and Halyk Bank, establishing a new Insurance Company and expanding geographically. Implementation of Strategic Alliance would take 3-5 months; establishing an insurance company would take 3-4 years; and geographic expansion would take much longer – 4-5 years. Alliance bank should introduce business strategies as SMS-banking and pension accounts.  Development of the SMS-banking would take 1 year and the development of pension accounts would take 3-4 years. To successfully implement the corporate and business strategies, Allianc e bank should involve all the departments of its company. Therefore, Alliance bank should have a good functional strategy. This would include involvement of Marketing, Human Resource, Research and Development, and Finance and Accounting departments. Overall, by summing up all those strategies we developed recommendations for Alliance bank which includes usage of corporate and business strategies in different situations as this would help a company to recover from the technical default and improve its current financial situation. 9. References Berger, A. N. & DeYong, R. (n.d.). The Effects of Geographic Expansion on Bank Efficiency. Journal of Financial Services Research. Retrieved from http://www.federalreserve.gov/pubs/feds/2001/200103/200103pap.pdf Biery , M. E. (2013). The Most Profitable Businesses to Start. Forbes. Retrieved from http://www.forbes.com/sites/sageworks/2013/04/28/the-most-profitable-businesses-to-start/ Clardy, A. (2013). Strengths vs. Strong Position: Rethinking the Nature of SWOT Analysis. Modern Management Science & Engineering, 1(1). Kazakhstan commercial banking report. (2012). Business Monitor International. Kazakhstan Overview. The World Bank, (2014). Retrieved from http://www.worldbank.org/en/country/kazakhstan/overview Tatum, M. (2014). What Is a Concentration Strategy? Retrieved from http://www.wisegeek.com/what-is-a-concentration-strategy.htm Toktabayev, K. (2013). Internet Banking. Business Review. Retrieved from http://profit.kz/articles/2019/Internet-banking-2013-ili-Odin-v-banke-dnem-she st-let-spustya/ Vidyanova, A. (2014). Alliance Bank Faced Technical Default.Capital Finance. Retrieved from http://kapital.kz/finance/26763/v-alyans-banke-proizoshel-tehnicheskij-defolt.html Yertayev, Z. (2013). Position of Kazakhstani banking system today – Review. Forbes journal. Retrieved from http://forbes.kz/life/opinion/v_kakoy_zone_nahoditsya_bankovskaya_sistema_kazahstana

GAAP for zero-interest-bearing note Essay

Wie Company has been operating for just 2 years, producing specialty golf equipment for women golfers. To date, the company has been able to finance its successful operations with investments from its principal owner, Michelle Wie, and cash flows from operations. However, current expansion plans will require some borrowing to expand the company’s production line. As part of the expansion plan, Wie will acquire some used equipment by signing a zero-interest-bearing note. The note has a maturity value of $50,000 and matures in 5 years. A reliable fair value measure for the equipment is not available, given the age and specialty nature of the equipment. As a result, Wie’s accounting staff is unable to determine an established exchange price for recording the equipment (nor the interest rate to be used to record interest expense on the long-term note). They have asked you to conduct some account research on this topic. (a) Identify the authoritative literature that provides guidance on the zero-interest-bearing note. Use some of the examples to explain how the standard applies in this setting.†¨(b) How is present value determined when an established exchange price is not determinable and a note has no ready market? What is the resulting interest rate often called?†¨(c) Where should a discount or premium appear in the financial statements? What about issue costs? ———————————————————————————— This work requires that you consider the fair value of the note on the seller’s books (note receivable). Portion of the codification are cut and pasted into the document for you. There are two pieces of purchasing an asset with a note. The asset value and the value of the note. Here, the asset value is not known. Below it discusses that if you don’t know the value of the asset, you use the value of what was exchanged for it. Quotes from Codification†¨360 Assets†¨845 Nonmonetary Transactions†¨10 Overall†¨30 Initial Measurement 30-8 Fair value should be regarded as not determinable within reasonable limits if major uncertainties exist about the realizability of the value that would be assigned to an asset received in a nonmonetary transaction accounted for at fair value. An exchange involving parties with essentially opposing interests is not considered a prerequisite  to determining a fair value of a nonmonetary asset transferred; nor does an exchan ge ensure that a fair value for accounting purposes can be ascertained within reasonable limits. If neither the fair value of a nonmonetary asset transferred nor the fair value of a nonmonetary asset received in exchange is determinable within reasonable limits, the recorded amount of the nonmonetary asset transferred from the entity may be the only available measure of the transaction.†¨310 Receivables†¨10 Overall†¨30 Initial Measurement†¨Certain Receivables 30-1 The following provides initial measurement guidance for certain notes receivable, specifically those exchanged for cash and those exchanged for property, goods, or services. Such notes may be originated by an entity or purchased from a third party. 30-3 As indicated in paragraph 835-30-25-8, notes exchanged for property, goods, or services are valued and accounted for at the present value of the consideration exchanged between the contracting parties at the date of the transaction in a manner similar to that followed for a cash transaction. 30-5 As indicated in paragraph 835-30-25-10, in circumstances where interest is not stated, the stated amount is unreasonable, or the stated face amount of the note is materially different from the current cash sales price for the same or similar items or from the market value of the note at the date of the transaction, the note, the sales price, and the cost of the property, goods, or services exchanged for the note shall be recorded at the fair value of the property, goods, or services or at an amount that reasonably approximates the market value of the note, whichever is the more clearly determinable. 30-6 Paragraph 835-30-25-11 explains that, in the absence of established exchange prices for the related property, goods, or services or evidence of the market value of the note (as described in paragraph 835-30-25-2), the present value of a note that stipulates either no interest or a rate of interest that is clearly unreasonable shall be determined by discounting all future payments on the notes using an imputed rate of interest as described in Subtopic 835-30. Paragraph 835-30-25-11 explains that this determination shall be made at the time the note is acquired; any subsequent changes in prevailing interest rates shall be ignored.†¨Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€ Now, to your questions†¦ Wie Company has been operating for just 2 years, producing specialty golf  equipment for women golfers. To date, the company has been able to finance its successful operations with investments from its principal owner, Michelle Wie, and cash flows from operations. However, current expansion plans will require some borrowing to expand the company’s production line. As part of the expansion plan, Wie will acquire some used equipment by signing a zero-interest-bearing note. The note has a maturity value of $50,000 and matures in 5 years. A reliable fair value measure for the equipment is not available, given the age and specialty nature of the equipment. As a result, Wie’s accounting staff is unable to determine an established exchange price for recording the equipment (nor the interest rate to be used to record interest expense on the long-term note). They have asked you to conduct some account research on this topic. (a) Identify the authoritative literature that provi des guidance on the zero-interest-bearing note. Use some of the examples to explain how the standard applies in this setting. The literature says that you value assets acquired by the value of that asset. If you don’t know it, you are supposed to figure it out, if possible, by looking at the cash price you could have paid (but didn’t). Or, if there is just no way to figure it out reasonably, then you look at the fair value of the item traded, in this case the note. So, you see if there is a market value for the note. Is it traded? Does it bear an interest rate so you can get the present value of it? No! The value of this note isn’t immediately apparent because you don’t have an interest rate to use to discount it back to the present value. So, you have to impute an interest rate (whole other section in the codification!). Another example of difficulty valuing an asset exchange would be when a firm leases, rather than sells, their inventory. What is the selling price? The present value of the minimum future rentals are used to establish a likely selling price for the purpose of re cording the sale and the gross profit from the sale. Another example of difficulty valuing an asset exchange is when assets are traded and there is no cash price or cash exchange. You would use the value of whichever asset is more readily determined, such as the price of the stock on actively traded exchanges. (b) How is present value determined when an established exchange price is not determinable and a note has no ready market? What is the resulting interest rate often called? You have to discern an interest rate by looking at the prevailing interest rates for  similar instruments with firms of similar credit status to this one. This is called the imputed interest rate. (c) Where should a discount or premium appear in the financial statements? What about issue costs? The discount or premium is a contra account to the note receivable on the issuer’s books (reduces assets in the balance sheet). Cost to issue should be spread over the life of the note (capitalized as asset in the balance sheet and amortized over life of note).

RESEARCH METHODS (AT LEAST THREE AUTHORITATIVE SOURCES) CONCEPT PAPER Coursework

RESEARCH METHODS (AT LEAST THREE AUTHORITATIVE SOURCES) CONCEPT PAPER - Coursework Example According to Wiles (2007), organizations must incorporate MOT in their organizational structure to survive the stiff competition currently prevailing in the American corporate sector. Technology is an imperative asset that can help organizations outperform their competitors and gain a significant market share. However, the challenge faced by technology specialists and decision makers is gaining an all-inclusive understanding of MOT that normally incorporate understanding of technology development, auxiliary intelligence and relevant processes and activities in the product value chain (Malhotra, 2004). As an important management discipline, MOT explores the potential of technology and how that potential can be harnessed for the advantage of organizations. However, as Van (2008) reiterates, the field and professions it obliges remains ambiguous due to absence of established task sheets and books that would nature the attention of students and practitioners. Additionally, an immense confusion surrounds MOT concepts and its relevance in solving management problems is disregarded by American managers (Christiansen,  2000). Deliberations on MOT reveal divergent viewpoints about nature, history, origin, role and etymology of technological terms. Van (2008) further reveals that the copious definitions of technological concepts have caused a disagreement that is yet to subside. However, the revival of MOT in recent years has created a pompous structure for systematic consideration of technology and its organization leading to introduction of teaching programmes in university and establishment of professional societies such as IAMOT (international association for the management of technology) (Wiles,  2007). The mesmerizing quest for students and practitioners is to have a fundamental structure that will aid in edification of technological related knowledge thus easing management related tasks through effective and efficient

Business Proposal Essay Example | Topics and Well Written Essays - 2000 words

Business Proposal - Essay Example We are well geared to meet the Safety and Liability requirements mentioned under Service Expectations and Freight Characteristics. We currently have a company policy manual, a copy of which has already been provided to Plymouth Weyerhaeuser. This covers all safety aspects that are expected by Plymouth Weyerhaeuser. The final copy is under revision and will be printed and distributed among our employees. The following requirements mentioned in the RFP will be met: 1. We will have a satisfactory DOT rating or a plan to get there conditional rating back within an agreed upon time frame. Copy of satisfactory rating certificate attached in bid package response. 2. We have a formal safety program and provide documentation indicating safety program content and that administration of such program is regular, ongoing and participated in by all on site personnel. 3. All yard trucks DOT certified which includes passing an annual DOT inspection. 4. Insurance Requirements of $100,000 product liability, $2 million general liability will be met with Weyerhaeuser named as additional insured. Insurance provider will have a B+ rating or higher. 5. Workers Compensation coverage for drivers and on-site persons ($500,000 minimum per accident).

Writer's choice Essay Example | Topics and Well Written Essays - 1000 words - 11

Writer's choice - Essay Example The customer coming into a store, the average number of the customer to walk in Starbuck within a period of one hour is 32. This is however based on the average as the first hour, one customer may enter while the second hour 8 customer may enter and the value may continue to vary with passing each hour. Therefore, the Poisson distribution model helps us to get an estimate of the customer will enter within the given hours. The data will be given by the chance of an event happening, multiplied by the average raised to the power of X, multiplied by the natural number; e raised in the –ve of the average power which is again divided by the factorial of X. Kevin is one of the team members who arguably have a taste for shopping. In this case we are going to monitor the patterns of her online shopping using eBay as the study area. The information obtained from his online shopping habits will be used to project an analysis that will illustrate when likely Kevin will go shopping online. Averagely, the time Kevin goes for shopping online is 2. 6. This includes the average of the time when he would go for long hour and those he goes for just a short time. Having this data, it can be easy for us to determine the likely hood that he will go in the 2, 3, 4 or 5 hours. Jack is fond of using the word â€Å"right† whenever he wants to drive his point home. I think it also gives him the confidence and the power of conviction whenever he is having a chat with the rest of the members of the class. Using the Poisson distribution model, we can estimate the likelihood that he is going to use the word â€Å"right† in his conversation. As from the previous examples, In case of Starbuck Hotel, the data can be of importance in determining the amount of beverages and snacks to prepare. From the observations, the clients are more likely to come in the afternoon and evening hours. Besides, the

Computer Forensics Coursework Example | Topics and Well Written Essays - 500 words

Computer Forensics - Coursework Example This 2 GB limit is caused by which of the following? ________ 32. If a person creates a file that contains 4097 bytes of information, and the file is saved to a hard disk that has clusters of 4 sectors each, how much file slack is associated with that file? 4916.4 bytes 33. True or False: When a file is deleted on a Windows system, the operating system inserts a Hex D5 in the place of the first character of the filename, indicating to the OS that the file has been deleted. TRUE As a digital forensics examiner, you have been called to the scene of a Kidnapping. Several witnesses have told the investigator that the victim was very excited about a new person they met online. Your job at the scene as a digital forensics examiner is to recommend to the investigating officer a course of action as to what digital evidence may or may not be needed to investigate this crime. a. Provide a list of potential digital evidence that the investigator is going to want to seize for possible forensic examination. Be thorough, as the lead investigator in this case is not computer savvy. Digital photo of the scene of crime – the photo should cover the areas from which the abduction occurred. If should clearly cover the area, for ease of identification of the area during crime analysis and investigation. In case the abductors or the victim left any belonging behind at the scene of crime, a digital photo should be taken. Evidence of the online communication – the investigator should collect information of the conversations done by the two parties online. The investigator should focus on getting information leading to the identification of the abductor. The collected information should include; the name used by the abductor in the online platform, photos and any other biographic information. The investigator should record snapshots of the conversations between the parties. Collection of information on the people

Crucial Stakeholders and Key Playes Essay Example | Topics and Well Written Essays - 750 words

Crucial Stakeholders and Key Playes - Essay Example This article highlights on some of the ways that communication plan and the software would be useful for the project leader. The communication plan helps in setting up standards for communication. The project leader would need to establish the standards within which the communication will occur. The stakeholders would also need to be aware of the course of the communication with the indication of how and when it will take place. The communication plan enables the project leader to set the scope for all the communications that are relevant to the project. The communication plan is also significant for scheduling various projects, within a period, thereby making the stakeholders to be aware of the progress. The SharePoint software package offers a framework useful for keeping the publishing content relevant to the project management. Further, the software is also efficient in proper management of time since it offers the option of a search engine. Time saving is important in any projec t management especially when there is need to achieve a mission within a given period. The project leader would only need to enter a search phrase in order to access any needed information. The SharePoint enables the project leader to avoid wastage of time when searching for any content. The SharePoint is also important in helping the project leader to manage every processes occurring during the project. The software offers workflows, which makes it easy to manage the firm processes. This will be important in supporting sustainable practices within the offices and the departments. The use of the SharePoint during the project would help the project leader in keeping track of any incoming or outgoing communication. The ability to keep track of the flowing information is important in ensuring that every stakeholder is aware of the ongoing processes. In proper management of the firm’s processes, the project leader would need a proper communication plan to help in ensuring consist ency in the communication process. The presentation of the communication plan to the stakeholders helps them to maintain consistent communication with each other. The stakeholders would need to follow the communication plan to identify any information about the project management. The communication plan helps in harmonizing the stakeholders since all of them have similar information about the situation of the project. The project leader also has the ability to make the stakeholders aware about any change in the project. Consequently, the communication plan helps the project leader to avoid delays associated with the stakeholders being misinformed. Further, the communication plan and the SharePoint software also increases the productivity of the workers. The establishment of a communication plan ensures that every employee remains informed of every activity included in the project. For instance, the project leader of the company would need to keep the stakeholders aware of the need f or their input in reducing the volume of the solid wastes by 50%. This calls for the need of a communication plan, which is efficient in equipping the stakeholders with the necessary information. The communication plan helps in restricting the stakeholders to the scope of the project since keeps them within a loop of project happenings (Turner, 2003). With the communication

Project Management Essay Example | Topics and Well Written Essays - 1750 words

Project Management - Essay Example In this regard, it has been observed that Nokia Corporation is one of the renowned companies, which has recently undergone a change in its operational processes in order to remain abreast with the changing environment of the market. The company has undergone a redesigning process in its operations to cope up with the changing needs of the customers as well as the markets all over the world. The revised operational strategy of the company includes the strategic alliance of it with Microsoft to come up with different ranges of products in the market. This alliance enables the company to deliver innovative products and enhance its geographical reach along with product identity. With this strategy, the company has the desire to increase its sales by a considerable margin. This change was much needed for the company as the nature of the market was constantly changing and there was a danger that the preferences of the customers might get switched to another brand. This approach of the comp any correlates with the operational purview where a company generally changes its operational strategy in accordance with the needs of the current business environment. This approach is termed as operational strategy approach of market requirement (Nokia, 2011; Slack & Nigel, 2009). Furthermore, the operational strategy of the company has witnessed significant changes in the recent years with the inception of the new leadership team in the operations. It has been observed that the new team of the company has acquired considerable knowledge and is competent to deal with the dynamic nature of today’s business environment. The team is also viewed to have utmost commitment towards the operational goals of the organisation. With the establishment of a new team, the company i.e. Nokia will be able to improve its decision making perspective as it is directly connected with the performance of the organisation. Furthermore, the new team of the company will also facilitate to enhance t he marketing operations or activities of the products which were lacking in the previous operating strategy of the company. In precise, it can be said that the new team of the organisation, which is a part of the operational strategy, will have its maximum focus on speed as well as accountability that would ultimately enable to deliver positive results. It would be vital to mention in this regard that the company has appointed a new face for every section of its operations from top to bottom and each one of them will have their specific targets that need to be fulfilled. This approach of the company correlates with the top-down operational strategy. In such strategy, companies experience a change from top to bottom in its operational conduct (Nokia, 2011; Pearson Education, 2010; Slack & Nigel, 2009). From the overall analysis of the strategy of Nokia Corporation, it has been learnt that the company follows two operational approaches which entail the current market requirement appro ach as well as the top-down approach. However, there are two more operational strategies that can be incorporated by the organisation in its operation. These two approaches will comprise bottom-up approach and strategy based on resources of organisation. In the bottom-up approach, a company such as Nokia would experience a change in strategy from bottom to top by taking into consideration the views and the

The Theoretician and the Experimenter - Eugenics and Francis Galton Essay

The Theoretician and the Experimenter - Eugenics and Francis Galton - Essay Example He tried to apply this concept in understanding heredity and in the future prospect of manipulating it to gain social goals. And the basic premise of his theory was that the environment of a human being had no influence on his character or intelligence (Cowan, 516). Marks has described Eugenics as an attempt to interpret, â€Å"cultural history in fundamental biological terms† (650). Galton’s thought is further explained by Marks by introducing Galton’s belief that â€Å"cultural ‘progress’ was driven principally by the birth rate of geniuses regardless of any other social processes† (650). Between 1910 and 1930, Eugenics had dominated all research works and beliefs in the field of genetics and biology but after this period, the entire concept was questioned and almost discarded (Marks, 650). Galton had conceptualized Eugenics as the science of cultivating â€Å"better men and women,† on the similar lines of cultivating â€Å"better plants and animals† (Farrall, 111). Farrall has observed that for Galton, Eugenics was â€Å"the basis of a scientific religion, which could lead to the Utopian situation where problems such as alcoholism, criminality, disease and poverty had disappeared† (111). Galton thought that once he could find out the exact ways in which intelligence and behavioural characteristics transmitted from parents to children, such social engineering will be made possible. The motivation for Galton to develop Eugenics was a belief that â€Å"statistics would solve the problem of heredity and that heredity, once understood, could be used to resolve the political and social contexts that plague the race of men† (Cowan, 510). Thus Galton wanted to create a â€Å"perfect Eugenic state† (Cowan, 510). The first question that he started with, was, â€Å"can extraordinary intellectual gifts be inherited?† (Cowan, 510). He started his work by â€Å"counting the number of men listed in a biographical dictionary who were relatives of someone else on the list† and then based on this, he published the book, â€Å"Hereditary Talent and Character†.  Ã‚  

Wastewater Management Essay Example | Topics and Well Written Essays - 500 words

Wastewater Management - Essay Example Considering the sewer systems, earlier sewer systems were combined. They were designed to enable the collection of sanitary and storm wastewater in a single system. As such, they prevented flooding by warding off water from roofs and streets. As a result, early sanitarians concluded that the combined systems did provide adequate health protection. In recent times, this is known as Attached Growth Processes. Wastewater passes over a media along with air (oxygen). Methods like trickling filters and biotowers are effective in removing biodegradable organic wastewater materials. However effective these methods are, the passage of organic matter over oxygen releases some pollutants like poisonous gases like Ammonia and infectious micro-organisms that contaminate the water causing deadly diseases. There are advanced tertiary methods like the addition of chemical to primary clarifiers as a way of removing phosphorus and nitrogen. However, this is viewed as advanced treatment method hence em ployed when some specific wastewater constituents cannot be removed. An example of an advanced method is the Bardenpho-plant that involves the passage of Ammonia gas through several zones (Assano, 2007).

Knights in shining armor Essay Example for Free

Knights in shining armor Essay When we think of knights, we may think of the saying â€Å"knights in shining armor† imagining them rescuing attractive damsels in distress from harm’s way. But in reality, knights were much more than that. Being a knight represented much more than we could even comprehend. Knights were one of the principal characters of the medieval times. They were soldiers who had an obligation to serve the king during military combat. In exchange for this service to the king, the knight would receive a position in the king’s Court. They existed during the period of the 12th through the 17th centuries in the European area, but later went on to other areas such as Japan and India. The knight of Europe therefore had his origins in military and economic need. His role was of a warrior, and in some cases he was little more than a thug rewarded for his aggression. But if in order to be successful, he had to take his role in the military seriously. As time went on, success required more than dedication: it required loyalty to his king in society as well as strategy and ingenuity on the battlefield. Medieval knights did not just turn into knights by any apparent reason. There were many certain factors that determined whether men could become future knights. The first factor was to be born into a high noble class family and the other factor was by proving he was worthy of the title by showing his strength and courage through battle combat. In the first case, the boy from an early age of eight years old began his process of training by taking a series of classes and instructions like chivalry, music and weapons in order to form his intellectual and physical self. He practiced his battle skills on a wooden dummy called a quintain. Later on they would only make emphasis on combat because they were more bodily developed. This would be by the ages of fifteen or sixteen, becoming a squire or a servant of another knight where he helped the knight get ready in the morning, serve all of his meals, care for the knight’s horse and clean his armor and weapons. He also assisted his knight on the battlefield and on what concerned his personal training he began to learn how to handle a sword and a lance while riding his horse with all of the required armor on. It wasn’t until the age of twenty that the squire would be able to become a knight by proving he was worthy of this title. Once they became knights, they were granted special suits of armor. They first consisted of pieces of metal covering the entire body but then evolved to a more flexible material, Plate. This type of armor offered better protection and gave more flexibility than the metal material. Additionally to this armor, knights were also given a long spear or better known as a Lance and also a two-handed sword called a Mace. The sword was the knight’s main weapon, accompanied by a metal Shield to cover himself from the enemy’s attacks. Other weapons that were given to knights include the crossbows and longbows. Inside the training of knights there was something very important that was taught to them called The Code of Conduct and Chivalry. Inside it, many of its points included â€Å"the knight was bound to defend his lord or liege, care for his lands and his people and in the later centuries this code of chivalry was expanded to include conduct in courts and public functions. A knight was expected to protect those less of lesser rank than himself and to hold himself to the highest standards of combat and knowledge in religion and writing, music and leadership. † (www. knight-medieval. com) Even though this code was formed with the rules that it was, ironically it was not applied for everything, for example the peasants. They were often aggressive to common folk. They could sometimes rape young peasant women without fear of being scolded just because they were part of the upper class. Knights participated in rigorous Tournaments every once in a while. These Tournaments were made for the knights to practice their skills, develop more strength and practice warfare. â€Å"Tournaments were essentially mock battles with audiences. The audience was usually made up of fair damsels. This was another way in which a knight was expected to act chivalrous. The tournaments had different rules that had to be followed. They were judged by umpires that watched for dishonest play. Tournaments were usually fought between either two people or two teams. If two people fought a tournament, it was usually by jousting. † (www. thinkquest. org) Also the tournament was a way for warriors to practice working together and at the same time use their other mounted combat skills. It was also a proving-ground for knights looking for service. Combatants wore the armor they always wore in battle and used the same weapons they used to kill their enemies. It didn’t matter to them that the men they fought were their fellow colleagues; in the tournaments, they were the enemy too. â€Å"In the early tournament, Chivalry did not apply. No one held back or tried to avoid killing their opponents. There were even knights who practiced what was known as a Count of Flanders technique, which involved waiting until late in the combat, then joining the fray and attacking tired and worn-out fighters and thus easily winning their belongings. † (Snell, www. historymedren. com) Over time, the tournament became a great event. It was organized by heralds and announced to the public weeks in advance. Processions took place, and evening banquets were given. Ladies in finery looked on from the gallery, giving chosen knights a favor, such as a scarf, to display as they contested. Prizes were also held out. The life of a knight in a majority of aspects was determined by his king. The king had the control of his knight’s life, career and future and in extreme cases, the King even had a say in whom his knight should marry and to whom he should leave his property or properties after his death. Even though the knight was in charge of his property, ultimately it was his king’s decision to take this or these lands away and even give them to anyone else he pleased. The main property a knight could own was his Castle. The castle was a private fortress where his family and servants resided. â€Å"It was a community unto itself; everything necessary for daily living was made within its massive walls or grown (or hunted) in the surrounding land. † (Snell, www. historymedren. com) Not only did knights have their effects on society inside the timeframe they existed, but in today’s society we are still living the effects they created. â€Å"The days of the steel armored knight have all but passed; though some true knights do indeed seek to strengthen their character and their arms through the practice of arms, today the knight must rather rely on the armor of his soul to defend himself, seeking to ennoble himself in the same way as his ancestors-by his deeds. † (Price, On Knighthood) Just as they did back then, knights still seek to obtain their honor through demonstrating their strength in battle but also defend what they believe in through mouth and word. Some knights today pursue this goal through the tournament or martial art; some through confraternal organizations that defend charity and support their cause as well as advance the causes of right. Like in history, none of these groups, even less the nobles within them, will attain the ideal that drives them. Bitter divisions sometimes are the best companies of knights, quietly ushering them further from the basic ideals that empower them, starting them on the journey to vainglory that defeats humility, overcomes charity, makes a mockery of courtesy, and in short blackens the heart against chivalry. Today there are many paths that lead to knighthood. You can seek membership in a knightly order; you can use a martial art or the tournament. But these are all external, not worth very much unless the spark of knighthood is ignited within them. The spark of nobility that has been recognized since the earliest age within certain men and women of character and spirit is the one that truly defines what a knight can really be, especially in today’s society. Works Cited †¢ Knights, Castles, Chivalry, siege engines and everything Medieval 2007-2008 Kalif Publishing http://www. knight-medieval. com/ †¢ The Medieval Knight 1997 Thinkquest 10949 Team http://library. thinkquest. org/10949/fief/medknight. html †¢ Price, Brian R. On Knighthood July 29,1996 http://www. chronique. com/Library/Knights/knitessy. htm †¢ Snell, Melissa. Knightlife #5 A Castle in the Background 1998-2000 http://historymedren. about. com/library/weekly/aa062698. htm

Concept of Hope in Nursing

Concept of Hope in Nursing INTRODUCTION The aim of this assignment is to explore the concept of hope, which has a great significance in nursing practice, and how this concept relates to the patient care provision will also be discussed. Hope is vital for everyone, and is an inner power or expectations of something better outcomes from any situation. Hope could be renewed with the restoration of peoples confidence in themselves, their government, and the future, hope does not depend on facts or logic, nor can it simply be ordered into being, although it can be encouraged (Parse 1999). Hope is a powerful thing which gives energy to the life, to achieve goals and perditions of better life. DEFINIING THE CONCEPT Hope is defined by many authors in their own views. Some of the definitions will be undertaken to understand the concept of hope precisely in this piece of work. Hope is defined as an essential but dynamic life force that grows out of faith in God, is supported by relationship, resource and work, and results in the energy necessary to work for a desired future; Hope gives meaning and happiness (Holt 2000).It means that hope is an important part of life, and it forces the life believe in the trust. The relationship, work, and resources also support it. Hope plays a vital role to improve the patients condition and nurses utilize this concept by using their efficient nursing skills. A nurse must have to understand that how unique and different is every individual before applying this concept to motivate their inner power to believe in this concept of hope. Hope has a meaning and provides happiness. According to Miller and Powers (1988) hope is defined as an anticipation of a future whic h is good, based on mutuality (relationships with others), a sense of personal competence, coping ability, psychological well being, purpose and meaning in life, and a sense of the possible. Therefore, the concept of hope is a part of future which is very important for the better and successful life. It is based on various aspects including need to equality, means the relationship with others, personal ability and coping ability to gain planned objectives. It has a purpose and meaning in life and there is need to physical as well as psychological well being to achieve the desired result. There is also need to develop positive attitude and a feeling of possibility. Nowotny (1989) concluded that hope is a multidimensional dynamic attribute of an individual which includes six critical attribute: future oriented, active individual involvement, comes from within, related to trust, that which is hoped for is possible, involves other people or a higher being, outcome is important to the i ndividual. A person having hope has the characteristics of multilayered elements which involves six significant traits which means a person must set goals for his/her future and should develop active individual involvement physically as well as psychologically, It also correlate the person to faith which is very necessary for the possibility of hope. According to Farran et al. (1992) hope is defined as expectation about attaining some desired goal in the future, a necessary condition for action, a subjective state that can influence realities to come, and knowledge that we can manage our internal and external realities. It is a required circumstance for the action of planned goals. It is a fact which deals with the inner and outer veracity of a person. Default and Martocchio (1985) stated that hope is defined as a multidimensional dynamic life force characterized by a confident yet uncertain expectation of achieving a future good which, to the hoping person is realistically possible and personally significant. Hope is a strong positive feeling, which is related to the achievement of the goals that are established for better future. According to Snyder et al. (1991) hope is defined as a cognitive set that is based on reciprocally derived sense of successful agency (goal directed determination) and pathway (planning of ways to meet goals). Therefore, hope is an intellectual set up which depends on the sense to achieve desired goals and objectives of life. It is a way to achieve the desired objectives by well planning that includes all the methods which are going to follow. RELEVANCE OF THE CONCEPT TO PRACTICE In nursing, hope has a significant role. When a nurse gives care to the patient he/she encourages the patient to think positively by using this concept of hope. It is only hope which motivates the individuals to be positivistic towards life. This will help them to maintain good interpersonal relationship as well as it accelerates the healing process. Mickley et al. (1992) considered that a multidimensional dynamic attribute of an individual which includes the dimensions of possibility and confidence in the future outcome, active involvement which comes from relations with others and spiritual beliefs. In this, the concept of hope has multidimensional characteristics involving possibilities and confidence. This can be only achieved by the interaction with others. Here the role of a nurse is to instill hope in the patient and build confidence and motivate to perceive life positively. According to Herth (1989) Hope is a source of energy, enabling healthy coping, and influencing survival , it is positive relationship between level of hope and level of coping in the individual. The author suggests that the terms hope and coping are inter-related with each other. It has good relationship with coping and expecting. When this concept is utilized in nursing, the nurses have to consider each patients needs and cope up with their expectations and disease process. It can further result in good patient outcome. The concept of hope has great impact on the role of nurse and patient care. Hope is a motivation for the nurses which relate them for their active involvement in the work (Kulig 2002). A good working environment promotes both nurse and patient to work together. Hope is also relevant for the nurses who give palliative care to the patients (Feudtner et al. 2007). Nurses play vital role in encouraging the patients to take part in the effective management. According to Snyder (1998) hope is build upon the principle that a good deal of everyday behavior is goal directed to wards the patient care. It means that good behavior of the nurses plays an important role while giving care to the patient. Good communication with the patient by nurses can foster a positive hope, which may provide an effective way to achieve the goal. There are some barriers of hope which come forward when this concept of hope put in nursing practice. According to Jackson, et al. (2000) barriers in hope are difference in spiritual beliefs, lack of knowledge, language and communication, economical factors, lack of trust about healthcare system and accepting hospice is perceived as giving up hope. Every individual may have different views on their spirituality, lack of knowledge about disease condition withdraw a nurse to develop hope in the patient. Language and communication also can be the major barrier to motivate hope in patient. Moreover, nurses can also promote the hope in patient with good communication and motivate the patient by giving proper explanation regarding the dise ase process, its treatment and recovery. So, a nurse must have good communication skills as well as she should be a good listener. Economical barriers also affect the quality of care. Due to the financial problems one cannot afford the facilities that can be provided in good hospitals. Furthermore, different language and customs of patients can also hinder the application of the concept of hope in the nursing practice. Therefore, it is essential to know the significance of hope in nursing as well as to understand the barriers of concept in order to deliver a quality of care to the patient. CONCLUSION To sum up, in this piece of work the concept of hope, its various perspectives and characteristics have been analyzed. Moreover, its relevance in patient care in nursing practice were identified in this framework. It is obvious from above analysis that hope has a crucial role in nursing practices and in ones life. It has a great influence in the coping mechanism of the patient from illness. Nurse assumes a primary role while giving care to the terminally ill patient. Finally, Hope is a multidimensional process which boosts the patient actively to takes part in the process related to their care and for the welfare of their health.

English legal system †statutory interpretation

English legal system – statutory interpretation Task 1: It can be argued that the role of statutory interpretation is to ensure that judges uphold the intention of Parliament. With reference to the approaches used by judges, critically assess whether the rules of statutory interpretation fulfil this argument. While Parliament decides what the law is it is ultimately down to judges to give effect to it in its application in realistic situations. Words in statutes may be designed to cover all possible contingencies in which case the meaning becomes extremely broad as in Brock v DPP [1993], the phrase: any dog of the type known as the pit bull terrier in the Dangerous Dogs Act 1991 was disputed over. Other situations are where a particular word causes ambiguity and its not clear which meaning should be used. There could have been drafting errors and new developments over time make Acts incapable of covering new scenarios or technologies. For their aid the Interpretation Act 1978 states that: unless the contrary appears, he includes she, and singular includes plural (Martin: 2007: 86). Three non-obligatory so-called rules (methods) have been developed by judges. Under the literal rule words are given their exact and pure dictionary meaning but it is severely criticized for resulting in injustices and absurdity. In the case of London North Eastern Railway v Berriman [1946] a claim failed on the grounds that the deceased died while oiling points along the railway line and not while relaying or repairing it. Tindal CJ in the Sussex Peerage Case (1844) stated: †¦the only rule for the construction of Acts of Parliament is that they should be construed according to the intent of the Parliament which passed the Act. If the words of the statute are in themselves precise and unambiguous, then no more can be necessary than to expound those words in their natural and ordinary sense. The golden rule is an alternative, active process where words can be modified only to avoid an absurd or repugnant situation. Applying the narrow version in R v Allen [1872], the court held that the word marry not only covers legal marriage but extends to going through a ceremony of marriage to avoid the absurd situation of the accused circumventing the wishes of the legislature by advancing the literal definition that a second marriage cannot be legal as the first marriage will invalidate it. In its wider application the court in Re Sigsworth [1935] prevented a murderer son benefitting from the proceeds of his crime even though the word could result in one possible outcome and shows that the literal rule, if applied, would have caused public outrage and indecency. The mischief rule derives from Heydonss Case (1584) with the aim of finding out what the law was before the passing of an Act and seeks to eliminate the mischief by advancing the remedy (Martin: 2007) and was applied in Royal College of Nursing v DHSS [1981], where the Abortion Act 1967 makes in lawful for a pregnancy to be terminated by a registered medical practitioner (Martin: 2007: 91). The court held that it is legitimate for nurses to carry out the second stage of the procedure because the mischief Parliament sought to suppress were dangerous backstreet abortions in unhygienic conditions (Ingman: 2008) The literal approach is being abandoned in favour of the more modern purposive approach. Since Britain has become a member of the EU judges are becoming accustomed to its methodology, finding themselves obliged to interpret legislation in conformity with Section 3 of the Human Rights Act 1998. While the mischief rule considers contemporary issues the purposive approach goes further in giving effect to the purpose of the Act prospectively. Such a case is R (Quintavalle) v Secretary of State for Health [2003], where CNR could not have been envisaged by Parliament at the time the Act was enacted as it did not exist at the time. Minor rules of language such as the ejusdem generis maxim means general words which follow specific ones are taken to include things of the same kind (Elliott: 2009: 61). This technique was employed in Powell v Kempton Park [1899] where an outdoor place known as Tattersalls Ring was excluded from the words house, office and room as they were all indoor places. The expressio unius alterius method means the mention of one thing excludes others and can be seen applied in Tempest v Kilner [1846]. The final rule is noscitur a sociiis meaning that a word is known by the company it keeps. In IRC v Frere [1965] it was held that because other annual interest was mentioned, interest could only apply annually. Intrinsic aids suggestive of Parliaments intentions are the preamble stating why the Act is being enforced but equally useful are extrinsic sources: previous Acts on the same subject; historical setting, earlier case law and dictionaries of the time. Pepper v Hart [1993] was a landmark case enabling judges to consult the debates that took place in Parliament prior to the Act being implemented. Lord Browne-Wilkinson: the purposive approach to construction now adopted by the courts in order to give effect to the true intentions of the legislature. Task 2: In the following situations, use your knowledge of statutory interpretation to explain whether or not the following defendants would be guilty of an offence under section 1 of the Street Offences Act 1959 where: it shall be an offence for a common prostitute to loiter or solicit in a public street or public place for the purposes of prostitution. (a) Fiona was waving and banging on the window of her flat to attract the attention of a friend walking by on the street below. As she live above a busy street, her action caught the attention of people including a police officer called out to investigate complaints under s 1 of the Street Offences Act Certain presumptions available to judges can be instrumental in deciding cases. These are: a presumption against the change in common law; that the Crown is not bound by any statute unless the statute expressly says so; that legislation does not apply retrospectively and in this case there is a presumption that mens rea is required to convict in criminal cases and when judges construct the intention of legislation they will consider this along with the actus reus. In B (a minor) v DPP [2000], Lord Nicholls emphasised: the common law presumes that, unless Parliament indicated otherwise, the appropriate mental element is an unexpressed ingredient of every statutory offence. Fionas actions might be misconstrued by the public and the officer as that for the purposes of prostitution given the context and public awareness of prostitutes manner in gaining attention. It appears this is the case here. At trial the true relationship between Fiona and her friend can be established. If the literal rule is applied and the imperativeness of mens rea is discarded then there is the possibility of her being convicted unjustly. However, in Sweet v Parsley [1970], although the defendant was the proprietor of a house where cannabis was being smoked by the renters, the House of Lords decided the defendant was not guilty since she had no knowledge of the inhabitants activities so she lacked mens rea and, therefore, could not be convicted (Martin: 2008). With a purposive approach and reference to the Sweet case the court is bound to acquit her as Fionas actions were not for the purposes of prostitution and Parliament will not have intended for the innocent to be punished. L ord Denning advocated this method strenuously, saying: we sit here to find the intention of Parliament and we do this better by filling in the gaps than opening up enactment to destructive analysis. (b) Moji is charged with soliciting from the balcony of her flat Moji is trying to elude the Street Offences Act by not being in the street when soliciting for clients. Applying the literal rule Moji will be acquitted and It is obvious parliament could not have intended for their enactments to cause such ineffective results. However, Lord Esher argues: the court has nothing to do with the question whether the legislature has committed an absurdity but it is plainly obvious that such an approach is mechanical and divorced from the realities of the use of language (Martin: 2007: 88) and negates the true spirit of the law. In Smith v Hughes [1960] six women were convicted under this Act for soliciting from their flats, windows and balconies and argued their convictions were wrong because, although they accepted they were engaged in prostitution, they did not contravene the legislations wording which states in a street or public place for the purposes of prostitution (www.opsi.gov.uk on 21/12/09). However, their convictions were upheld, Lord Parker giving judgement: Everybody knows this was an Act to clean up the streets. viewed in this way it can matter little whether the prostitute is standing in the street or in the doorway or on the balcony, or at a window, or whether the window is shut or open or half open. In Eastbourne Borough Council v Stirling [Times, 16th November 2000] a taxi driver was convicted because, although he was on private land, he targeted for hire people on the street. Bound by these judgements Moji will be convicted as the mischief the Act sought to eliminate was prostitution targeted on streets. This effectively re-writes law and criticism follows that it is an encroachment on the sovereignty of parliament; undermines the separation of powers and allows judges to arbitrarily decide cases. However, under the doctrine of judicial precedence this can be restricted (Slapper and Kelly: 2009). (c) Rosalyn is charged with soliciting from the high street In some cases application of the literal rule leads to an absurdity such as Whiteley v Chappell [1868] where the defendant was charged in accordance with the words to impersonate any person entitled to vote. He was acquitted because a dead person is not literally entitled to vote. Another case illustrating the problem with the literal rule is Cheeseman v DPP [Times, 2nd November 1990] where a defendant was acquitted because police officers were not passengers. Had the mischief rule been used it wouldve produced correct verdicts according to common sense and the intentions of Parliament as the Acts aimed to bring to justice those committing fraud and indecency. In some situations though, the literal rule suffices to deliver the intentions of a statute. The Street Offences Act 1959 section 1(4) defines street, amongst other definitions, as for the time being open to the public shall be treated as forming part of the street. A high street is, according to the Oxford English Dictionary 2005, catering to the needs of the ordinary public. With such an interpretation Rosalyn will be convicted.

How Can English majors develop their speaking skills? Essay -- Langua

In the next point, I inquired about the amount of presentations they had to prepare, which I regarded significant because based on this, they could decide whether it is enough practice, or they would require more. After that they had to rate how difficult it was for them to prepare these presentations. I aimed to discover their attitudes toward presentations because their approach can influence the final quality of their work. For example, if a student is generally worried about oral presentations, it can be perceptible and the audience would be able to notice that the presenter is struggling. In connection with the difficulty of the preparation, I wanted to gather information about the amount of time they usually spend on this activity. I considered it substantial since it can indicate how seriously they take the task and how much time they need to be well-prepared. Of course, it can be variable because there are students who learn faster, while for others it is a more time-consumin g process. In the next point, I aimed to gather some information about teachers’ willingness to help from the students’ point of view. As the university is an entirely new medium compared to secondary schools, it can be hard to adapt to the new atmosphere and expectations, but helpful teachers represent a great advantage. The following three questions dealt with students’ speaking skills in general. The first one asked whether it has ever caused them a problem to speak in a class. The next one aimed to reveal the possible reasons behind the problem. I think it is crucial to be aware of the difficulties that students can have with oral production. After that they could name methods to successfully overcome their possible fears or problems. I also ... ...n R. Lugossy, J. Horvà ¡th, & M. Nikolov (Eds.) UPRT 2008: Empirical studies in English applied linguistics (pp. 43-57). Pà ©cs: Lingua Franca Csoport. Hedge, T. (2000). Teaching and Learning in the Language Classroom. Oxford University Press. Kiss-Gulyà ¡s, J. (2001). Experiencing the Examination Design, Content, Materials and Procedures. In Egyà ¼d J, Gy. & Gà ¡l, I. & Glover, P. (Eds.) English Language Education in Hungary Part III. Budapest: The British Council Hungary. Menyhà ¡rt, A. & Kormos, J. (2006). Angol szakos hallgatà ³k nyelvtanulà ¡si motivà ¡cià ³ja. Iskolakultà ºra, 2006/12, 114-125. Nagy, B. (2005). The role of individual communicational variables in advanced EFL learning. Magyar Pedagà ³gia, 105, 5-27. de Saint Là ©ger, D. & Storch, N. (2009). Learners’ perceptions and attitudes: Implications for willingness to communicate in an L2 classroom. System, 37, 269-285.

Reality of Sports :: Movies Film Basketball Essays

Reality of Sports Upon watching the films during this course we see many strong women. Female Athletes whose bodies are in peak condition from the real life champions in the documentary to the female boxer in Girl Fight and the passionate basketball player in Love and Basketball. However stories of real women are not always as ideal as those of Hollywood. Failure, both mentally and physically, is at times a harsh reality. Sometimes when somebody is physically injured it keeps an athlete from the game entirely, if the injury is severe enough. But one may recover physically and never have quite the same mental attitude. The main character in this plot will encounter both physical and mental set backs and either triumph over her hardships or be defeated. A fourteen-year old girl runs into the gymnasium of her middle school with her teammates. They do their warm up routine to stretch their muscles. Form one of two sets of bleachers a handful of people cheer, mostly bored younger siblings and parents supporting their little girls. The baskets have been lowered at opposing ends of the court. The referee sounds her whistle for the game to begin. The two tallest girls from either team stand toe to toe posed for the toss up. Third quarter, the away team has the advantage. The fourteen year old is playing with all of her strength of body and heart. The ball is thrown; she intercepts it. Dribbling down the court, she goes for the open lay up. In mid air she is struck by a vengeful for whom threw the misguided pass. They take a hard fall jumbled on the floor, out of bounds. The girl from the visiting team stands up. The other does not. She is on the floor grabbing her knee. The coaches run out to her, and lift her up to take her back to the b ench. The game continues as she sits with a towel over head to hide the tears of anguish. A few doctors later and her joint is still not quite the same. She struggles in high school trying to get back on a team, but her knee fails her. Eventually she becomes scared to even hoops in her backyard for fear of hr knee's health. She does not want to continue injuring the same knee for fear of becoming crippled. Eventually she gives up on joining a team.

Analogy of Poetry Essay

The poem There Is Another Sky by Emily Dickinson was a poem written for her brother Austin. Emily uses nature to explain the message she is trying to provide for him. The poem provides a hopeful and positive feeling. The poem is full of optimism and inspiration. The pint of the poem is to provide encouragement and offer guidance. The lines â€Å"Here is a brighter garden† and â€Å"And there is another sunshine† demonstrate the optimism she is trying to portray. There are no stanzas or major events in the poem. The order that the aspects of nature are presented in provides. The last few lines of the poem further enhance the message. The poem ends with an open invitation for Austin to leave his gloomy state. Dickinson shows a sincere concern while providing inspiration for both the readers and her brother. She describes a utopia throughout the poem and uses words to describe a better place such as serene, fair, brighter, and unfading. The title there is another sky provides the since that there is an alternative option instead of a consistent negative outlook on life. There is a change in tone after the dash. Before the dash Dickinson states that there is a negative place and recognizes that everything in life doesn’t always work in your favor. She also uses â€Å"there is† creating distance. After the dash Dickinson implies that there in fact is another sky. She uses â€Å"here is† which implies that she can provide a better situation. Knowing that the poem is for her brother almost obligates you to feel sympathy for him and makes her message even stronger. Overall, Emily is trying to say that entering a new mind set and believing that there is a light at the end of the tunnel can provide you with a new attitude.