Mgt 501 Mod 5 Case Essays

Mgt 501 Mod 5 Case Essays Mgt 501 Mod 5 Case Essay Mgt 501 Mod 5 Case Essay Module 5 Case Organizations as Political Systems MGT 501 Leaders in an Organization must have the heartbeat of the association and completely comprehend the Politics and culture inside their association to have the option to viably lead and realize which style of administration to apply in a different exhibit of circumstances. In the Clement article he examines 3 principle themes. First is the significance of managing authoritative culture. His key point is that administration must work inside the current culture to change the association. The significant target is to improve the organization, not really change the way of life. His subsequent subject is the job of authority in authoritative change. He talks about the job of administration in managing society and the authority styles that might be required. Finally he talks about the thought of hierarchical force, and the related subject of legislative issues, in authoritative change. In the three organizations that he leads investigation on two of them got outside weight of board individuals to roll out an improvement and get new top supervisory crews. Their new cooperations and connections both inside and outside the association have all the earmarks of being what was expected to turn those organizations around. Authority is an extreme business and legislative issues both inner and outer to an association include an additional test. (Ratzburg, 2002) â€Å"Politics is a methods for perceiving and, ultimately,â reconciling contending interestsâ within the association. Contending interests can be accommodated by any number of means. For instance, falling back on rule by the director may be viewed for instance of extremist standard. Then again, governmental issues might be a methods for making a non-coercive, or a vote based workplace. As per Aristotle,â politics originates from an assorted variety of interests. To completely comprehend the governmental issues of the association, it is important to investigate the procedures by which individuals take part in legislative issues. Reliable with Aristotles conceptualization, it is a given that, inside the association, allâ employeesâ bring their ownâ interests, needs, wants, and needsâ to the work environment. The effective act of hierarchical legislative issues is seen to prompt a more elevated level of intensity, and once a more significant level of intensity is accomplished, there is greater chance to take part in political conduct. Basic Influence (Political) Tactics are recognized a progression of basic impact strategies and recorded them from best to least successful: * judicious influence intelligent contentions and genuine proof * moving intrigue excitement of energy by engaging qualities * conference looking for cooperation in arranging * ingratiation * trade offering a trade of favors * individual intrigue bids to sentiments of devotion or fellowship * alliance looking for the guide of others legitimating highlighting authoritative arrangements, rules practices, or conventions * pressure requests, dangers, tenacious reminders† Politics and force can both be utilized in positive manners. Pressure may at times be expected to impact the individuals who won't bolster change. Correspondence and cooperation can frequently empower political exercises of a positive sort, particularly if the hierarchical culture has been thought of and the pioneer of the social change exertion was viable in affecting positiv e change. Forebearing, 1994) â€Å"Those endeavoring to actualize change should consider the historical backdrop of the association and its associations with its different partners, including those past its limits. Just along these lines can change advocates comprehend the recognizable however deceptive realities and reveal the genuine frameworks of significance to which supervisors and representatives buy in. Any conversation of hierarchical force needs to think about the firmly related subject of authoritative governmental issues. Governmental issues is power in real life; it includes gaining, creating, and utilizing capacity to accomplish ones destinations. Since change consistently compromises the current level of influence in an association, legislative issues will consistently be utilized to look after parity. The investigation of legislative issues must be performed at three levels: individual, alliance, and system. Not exclusively should the backers of progress keep an eye out for political and strategic maneuvers, they should likewise utilize force and legislative issues themselves. Its an essential instance of battling fire with fire. A to some degree more elevated level of political maneuveringpolitical facilitationcalls for direct cooperation with the individuals who may help or frustrate the change. It applies to increasingly generous changes maybe significant redesigns inside assembling divisions, singular retail outlets, or government offices. The degree of political moving proper for enormous scope hierarchical change is called political intercession. † This module identifies with the past module where we talked about culture, and the intermittent requirement for an adjustment in the way of life of the association. A key factor with any change is solid and genuine correspondence from the top level administration and that top directors must talk the discussion and walk the stroll to be a good example for the adjustment where they are attempting to actualize. Merciful, 1994) â€Å"In expansion to correspondence and across the board support, they noted two other key authority practices. To begin with, top administration needs to show noticeable and predictable help for change. Displaying expected practices is significant; in the event that the change exertion calls for gr oup building, at that point top administration ought to be the main gathering to attempt to fabricate groups. The other significant initiative conduct is tying the change program to business needs. The executives needs to show how the change will improve result estimates, for example, benefits, profitability, or nature of work life. The most normally refered to explanation behind the disappointment of a change exertion was the nearness of off base and negative bits of gossip, frequently brought about by administrations fail to give ideal and precise data. The second most compelling motivation for disappointment was that of representatives taking in of the change from outsidersagain, in light of the fact that administration didn't impart. Numerous representatives, particularly those influenced by the change, communicated outrageous hatred about this circumstance. The last reason for disappointment was administrations dependence on a lean channel of correspondence, for example, a reminder rather than an up close and personal gathering. The authority style of the pioneers and administrators which are attempting to actualize change is essential to note, in addition to the fact that leaders need to have the option to utilize the fitting initiative style for a specific circumstance in any case, they additionally need to know their directors and pioneers inside their association and comprehend which administration style they react to best. (Clark, 2010) â€Å"Authoritarian or totalitarian This style is utilized when pioneers mention to their representatives what they need done and how they need it achieved, without getting. A few people will in general think about this style as a vehicle for shouting, utilizing disparaging language, and driving by dangers and mishandling their capacity. This isn't the dictator style, rather it is an injurious, amateurish style called â€Å"bossing individuals around. † It has no spot in a pioneers collection. The tyrant style ought to typically just be utilized on uncommon events. In the event that you have the opportunity and need to acquire duty and inspiration from your representatives, at that point you should utilize the participative style. * Participative or fair This is typically utilized when you have some portion of the data, and your representatives have different parts. Note that a pioneer isn't required to know it all -  * Delegative or Free rule The pioneer permits the representatives to settle on the choices. Be that as it may, the pioneer is as yet liable for the choices that are made rather this is a style to be utilized when you completely trust and trust in the individuals beneath you. Try not to be hesitant to utilize it, in any case, use itâ wisely! † In numerous associations the organization will succeed or bomb because of the choices and culture that the administration makes with respect to the manner in which they decide to work together. Authoritative fundamental beliefs are critical at the same time, they are just as significant as the pioneers â€Å"model† for individuals from their work power to imitate as a standard of satisfactory conduct. Hierarchical legislative issues is firmly identified with authoritative force. (Lenient, 1994)† Politics is power in real life; it includes obtaining, creating, and utilizing capacity to accomplish ones goals. Since change consistently undermines the current perceived leverage in an association, governmental issues will consistently be utilized to keep up balance† Clark, D. (2010, June 13). Initiative Styles. Recovered July 29, 2011, from A Big Dog, Little Dog and Knowledge Jump : nwlink. com/~donclark/pioneer/leadstl. html CLEMENT, R. (1994, January-February). Culture, Leadership, and force: the keys to authoritative change. Recovered Aug 3, 2011, from http://findarticles. com/p/articles/mi_m1038/is_n1_v37/ai_14922916/Ratzburg, W. (2002, November 20). Characterizing Organizational Politics. Recovered August 4, 2011, from OBnotes. HTM: http://web. file. organization/web/20080216010425/geocities. com/Athens/Forum/1650/htmlpolitc01. html

How to Become a School Principal

Step by step instructions to Become a School Principal Not every person is intended to turn into a school head. A few instructors make the progress well while others make sense of that it is more troublesome than one may might suspect. A school principal’s day can be long and distressing. You must be composed, take care of issues, oversee individuals well, and have the option to isolate your own life from your expert life. On the off chance that you can't do those four things, you won't keep going long as a head. It takes a striking individual to manage all the negatives that you are compelled to deal with as a school head. You tune in to consistent protests from guardians, educators, and understudies. You need to manage a wide range of control issues. You go to essentially every extra-curricular action. In the event that you have an insufficient instructor in your structure, at that point you must assist them with improving or dispose of them. In the event that your grades are low, it is at last an impression of you. So for what reason would somebody need to turn into a head? For those that are prepared to deal with the everyday burdens, the test of running and keeping up a school can be fulfilling. There is additionally a redesign in pay which is a reward. The most compensating angle is that you greaterly affect the school all in all. You are the school chief. As the pioneer, your day by day choices sway a bigger number of understudies and instructors than you affected as a homeroom educator. A vital who comprehends this receives their benefits through every day development and upgrades from their understudies and instructors. For the individuals who conclude that they need to turn into a head, the accompanying advances must be taken to arrive at that objective: Win a Bachelor’s Degree †You should procure a four-year bachelor’s certificate from an authorize college. At times, it doesn't need to be instruction degree as most states have an elective accreditation program.Obtain a Teaching License/Certification †Once you have earned a bachelor’s qualification in training at that point, most states expect you to get authorized/guaranteed. This is commonly done by taking and breezing through an assessment or arrangement of tests in your general vicinity of specialization. In the event that you don't have a degree in training, at that point check your states’ elective confirmation prerequisites to get your showing permit/certification.Gain Experience as a Classroom Teacher †Most states expect you to instruct a specific number of years before you can turn into a school head. This is critical in light of the fact that the vast majority need study hall experience to have a comprehension of what goes on in a school on an everyday premise. Picking up this experience is fundamental to turning into a powerful head. Also, it will be simpler for educators to identify with you and comprehend where you are coming from on the off chance that you have study hall experience since they realize you have been one of them. Increase Leadership Experience †Throughout your time as a study hall instructor, search for chances to sit on as well as seat advisory groups. Visit with your structure head and let them realize that you are keen on turning into a head. Odds are they will give you some expanded job to help set you up for being in that job or in any event you can get their input concerning chief prescribed procedures. All of experience and information will help when you land your first principal’s job.Earn a Master’s Degree †Although most principals will procure a Master’s qualification in a zone, for example, instructive administration, there are states that permit you to turn into a head with a blend of any master’s qualification, the necessary showing experience, alongside passing the permit/confirmation process. A great many people will keep on showing full time while taking master’s courses low maintenance until they win their degree. Many school organ ization masters’ programs presently take into account teacher’s offering one night seven days courses. The late spring can be utilized to take extra classes to facilitate the process.â The last semester commonly includes a temporary position with hands-on preparing that will give you a depiction of what a principals work really involves. Acquire a School Administrator License/Certification †This progression is strikingly like the procedure for getting your instructor permit/affirmation. You should breeze through an assessment or arrangement of tests identified with the particular territory you need to be a head in whether that be a basic, a center level, or a secondary school principal.Interview for a Principal’s Job †Once you have earned your permit/accreditation, at that point the time has come to begin searching for a vocation. Try not to be debilitated in the event that you don't land one as fast as you suspected. Principal’s employments are seriously serious and can be hard to land. Go into each meeting sure and arranged. As you meet, recall that as they are talking with you, you are talking with them. Try not to agree to work. You don't need an occupation at a school which you don't truly need with all the pressure a principal’s employment can bring.â While looking for a princip als work, increase significant head understanding by electing to assist your structure principal.â More than likely they will permit you to proceed in a temporary position sort of job. This kind of experience will help your resume and give you astounding hands on preparing. Land a Principal’s Job †Once you get an offer and have acknowledged it, the genuine fun starts. Come in with an arrangement yet recall that regardless of how well you believe you have been readied, there will be shocks. There are new difficulties and issues that emerge every single day. Never get careless. Keep on looking for approaches to develop, carry out your responsibility better, and make upgrades to your structure.

Turn Your Personal Statement Into Drama

Turn Your Personal Statement Into Drama One of my editing clients recently requested help with his SOP with the words, I hate writing about myself. That remark was a challenge to me to help him create an SOP that would tell his personal story clearly and have it noticed by the admissions committee at the university where he was applying.Many of us dislike writing for a lot of reasons. However, when the assignment is to talk about ourselves to anonymous readers who will use that discourse to judge our qualifications for college admission or a job application or a fellowship or grant, we can become absolutely terrified about the process. What can we possibly say that wont be boring and sound like something that everybody else would say too? We freeze and get a bad case of writers block. Well, there is help.The goal of an outstanding SOP is obviously to get it noticed and have it compare favorably with others in an application competition. How do you do that, especially when your essay may well be one of hundreds? When you h ave to answer a question that you may not relate to particularly well or you are writing your eighth or ninth admission essay of the week and theyre all starting to sound alike, how DO you keep yours fresh and interesting? How do you raise the odds that your essay will be set aside as an outstanding essay that warrants reexamination and eventual acceptance of your application?Its simple. Learn how to tell a story and do it the same way that good writers have for ages â€" a good narrative hook at the beginning, a compelling incident, and a final resolution that reflects a changed view of the world and the main character â€" in this case, YOU. As you write your SOP, think back to all the movies or television shows youve watched that enthralled you, the biography or memoir that had you turning page after page, or the novel that kept you reading late into the night to find out what happened. Then apply those techniques to your SOP. Tell a story â€" your story-- in the same dramatic way. Include a beginning, a middle, and an end to narrate what happened to you that was unique, made you grow as a person and explains the direction you now want to go in your life.Think scene first, and then decide how to express it as a picture. Think about an event that you can show your reader to illustrate the one important point you want to make about your life and the lessons youve learned. Then dramatize that event as a microcosm of your life, and make it as real as possible. Explain in story form how that event took place in your life and what it taught you. Think about the people you met and how they helped or didnt help you grow. Narrate the details of that important event as they happened. Think about place and event and why both are important. Use precise details to make your story live for your reader. Then decide on the precise last impression you want to leave with your reader and the one detail or phrase you can use to communicate that impression and state it.So, what a re some practical techniques you can use to create an intriguing SOP that will be read and remembered?Look for an incident to narrate that answers the essay question youve been asked or expands the topic with your special reaction. Most SOPs present discussion points to get you started. Review them, and decide what event in your life illustrates that point best. Then develop its details in narrative form as you write your essay. Use part of your essay to relate a scene that makes the event youve chosen real and personal. Tell the reader what happened.Create an opening sentence that hooks the reader and attracts immediate interest. Make sure that sentence clearly ties into the discussion topic or question and opens the door to the special story youve chosen to tell. That opening sentence will let your essay start with a bang. Often that great first sentence will lie hidden quietly somewhere further on in your essay as an uncut jewel simply because you had to write the early text to w arm up before you were ready to say what you really wanted to say. One of the keys to writing a good essay is to search for your real beginning in your first draft. That sentence may be in your third paragraph or near the end of your draft, but once youve spotted it, move it immediately to its rightful place at the beginning. Open with it and delete all the chaff from the wheat in between. Then your bit of gold will shine. Develop that sentence into your story, and youll have found the focus you need to develop the piece you heard in your head before you first put pen to paper.Make effective use of imagery and figures of speech just like great writers do, especially poets and novelists. Similes that make memorable comparisons and metaphors that present unique images and active verbs and phrases that attract attention will strengthen your story and make it shine. Sometimes a single phrase or choice of word can paint the perfect picture that you want of how you are different or unusua l and definitely exceptional.Dont be afraid to use a bit of dialogue if your story warrants it. Conversation can be a very effective tool to immediacy to your story. Just be careful not to overdo it. Youre not writing a screenplay. Youre writing an SOP, so go light. A brief interchange of dialogue or dialogue retold as memory, however, can communicate an immediate sense of an event much more quickly than saying, she told me that or he believed this or he decided that. In other words, to reiterate the classic writing mandate most writers struggle over when they learn to write, Show! dont tell. Paint a picture. Show your story happening. Let the people who occupy your story really be there. Dialogue is one technique that can help you make a story feel immediate and impress.Develop a specific theme (writers often call it a thesis sentence.) Decide at the start what you want to say and put it in a condensed form. A list of phrases works well as an outline. Then show it in the story. Be passionate and be honest. Reflect on your life experience and communicate what youve learned through narration. Pick an event and a storyline that illustrates your personal evolution and talk passionately about it. Sit down and figure out how you can relate that event and keep the reader on the edge of her seat, waiting for your next word or phrase and revelation.Telling any story is emotional. A good story needs to be honest and revealing, just as drama is in life or in a memorable movie or a magnificent poem, or a masterpiece novel. Dont be afraid to risk doing the same in your SOP. Say what you want to say. Be dramatic and be daring. You might just get admitted to the school of your dreams by doing so.

Genetically And Genetically Modified Organisms - 1794 Words

A Genetically Modified Culture Genetically modified organisms are crops that have a gene from one organism inserted into the DNA sequence of another organism in order to gain beneficial traits (McWilliams 351). Beneficial traits that may result from the genetic modification of crops include herbicide resistance, insect resistance, or drought tolerance (McWilliams 351). The concept of genetically modifying food is a concept that makes many people skeptical about what is being done to the food that they eat. After careful research, it is evident that there are many potentially harmful aspects of genetically modified organisms. The negative aspects of genetically modified organisms include adverse health effects, their inability to solve world hunger, heavier use of pesticides and herbicides, loss of biodiversity, damage to the small farming business, the fact that the companies that control them have become too powerful, and inadequate labeling practices. A crucial drawback of genetically modified organisms is that they have the potential to cause many adverse health effects in the people who consume them. Research shows that eating food that contains genetically modified organisms can potentially put a person at risk for â€Å"infertility, immune system problems, accelerated aging, disruption of insulin and cholesterol regulation, gastrointestinal issues, and changes in organs† (SMITH). Recently, the American Academy of Emergency Medicine encouraged doctors urge patients toShow MoreRelatedGenetically Organisms : Genetically Modified Organism1528 Words   |  7 PagesA GMO is a genetically modified organism. It is a process of taking â€Å"genes from one species and inserting them into another in an attempt to obtain a desired trait or characteristic, and this is why they are also called transgenic organism† (About GMO). This process is categorized under two names even though they are one in the same, Genetic Engineerin g and Genetic Modification. In order for a scientist to introduce new DNA into an organism, they must go through a series of steps or methods like:Read MoreGenetically And Genetically Modified Organisms1188 Words   |  5 Pages Genetically engineered crops or genetically modified organisms (GMOs) are plants in agriculture and the DNA that has been modified using genetic engineering techniques. The goal of this type of bioengineering is to add new traits to a plant which doesn’t occur naturally in the species. Farmers have adopted the technology. The first genetically made crop was manufactured in 1982 which was an antibiotic-resistant tobacco plant. In 1986, the first free trials were in Europe and the USA and were madeRead MoreGenetically And Genetically Modified Organisms2311 Words   |  10 PagesGenetically Modified Organisms are organisms whose genetic make-up have been changed by mutating, inserting, or deleting genes, by using genetic engineering techniques or biotechnology (Klein, Wolf, Wu Sanford, 1987). The topic of genetically modified organisms became very controversial in today’s world. GMO have been used not only in producing vegetable, but also in medical and biological researches, drug production, and medical treatments. However, the food field generates the biggest controversyRead MoreGenetically : Genetically Modified Organisms1386 Words   |  6 PagesLessliee Echevarria Hollis 6th Senior Project 18 March 2015 Genetically Modified Organisms According to a census done by the United Nations, as of October 31, 2011 the world’s population has reached seven billion people. The earth’s population is estimated to reach between 8.3 and 10.9 billion by 2050. Will the earth be able to sustain and feed that many mouths? The planet’s current population is already two to three times higher than the sustainableRead MoreGenetically And Genetically Modified Organism998 Words   |  4 PagesGMO or genetically modified organism. Is an organism which has had its genetic makeup altered by removing part of its genetic makeup and inserting a modified gene from another organism or the mutation or deletion of the biome. The biological complexity of life is narrowed down to a single gene and shoot at with foreign substances that change a genetic trait of an animal or plant. The history of altering genetics goes back to a family who had a monopoly on petroleum in the 19th century and becameRead MoreGenetically And Genetica lly Modified Organisms2218 Words   |  9 Pagesown pesticides has achieved world recognition. Although this innovation, known as a GMO (genetically modified organism), has become extremely influential in the produce industry, the unfamiliarity of the potential dangers continues to be overlooked. The use of GMOs within food has provoked a major controversy among people worldwide. There are many cases supporting and opposing the use of GM (genetically modified) foods, however, a well-debated aspect of this dispute is whether a product containingRead MoreGenetically And Genetically Modified Organisms998 Words   |  4 PagesGMO’s, or genetically modified organisms, were first brought to my attention in the ninth grade. I did not know that anything such as GMO’s had existed before that, but in my ninth grade biology class we had to watch Food, Inc. and take a health class. I remember being so upset by the poor animal conditions and the lack of labels on foods with genetic modifications. To play my own part in the issue, I started to eat more organic foods and looked for labels that were non-GMO. I also became aRead MoreGenetically And Genetically Modified Organisms1447 Words   |  6 Pages or Genetically Modified Organisms. Since its first use in 1973, genetic modification has been applied to almost every crop imaginable. Countless fields of beans, rice, and corn have become subject to genetic modification as more and more farmers begin to realize the benefits of growing â€Å"super† plants. With so little drawbacks and so many advantages, it is easy to see why GMOs are as widespread as they are in today’s society. The concept of selecting the most desirable traits in an organism has beenRead MoreGenetically And Genetically Modified Organisms2188 Words   |  9 Pagessurrounding the use of Genetically Modified Organisms, or GMOs. There will be explanations of the negative aspects of Genetically Modified Organisms with the described studies to go along with them. The positive Genetically Modified Organisms facts will be mentioned and described to counter weigh the negatives. There will also be a look into the use of hormones in farm animals and the negative outcomes from them and how the use of the hormones usually gets tied in with the Genetically Modified substances. TheRead MoreGenetically Modified Organisms779 Words   |  3 PagesINTRO Genetically modified organisms are genetically modified organisms. If you look in the average American cupboard many of the packages found there contain foods that have been genetically modified. Some researchers believe that people need to be more aware of the genetically altering chemicals put in their body. Consumers should be limiting the amount of genetically modified foods in their daily diet. â€Å"In a study in the early 1990s, rats were fed genetically modified (GM) tomatoes. Well actually

Constitution vs Articles of Confed. Essay - 902 Words

REPORT: CONSTITUTION As one of the creators of the new Constitution of 1788, you are chosen to present its strengths as compared to the weaknesses of the Articles of Confederation. What areas of importance will you stress in attempting to get it passed unanimously? Give good well-reasoned arguments in a report of approximately 400 words. You will need to research the details of each document, using resources from the library, the Internet, or other sources. Be sure to use proper spelling and grammar. Articles of Confederation The Articles of Confederation were a written agreement, ratified by the thirteen original states of the United States of America, which laid the guidelines as to how the US government was supposed to†¦show more content†¦Articles of Confederation vs. the US Constitution If you try to compare the Articles with the new Constitution, you realize that the former was full of drawbacks, while the latter had answers to all these drawbacks. The Articles was subjected to severe criticism for the very fact that it centralized all the powers in the hands of state government, and left the national government with no major powers at all. As opposed to the unicameral system which was facilitated by the Articles of Confederation, the US Constitution introduced the bicameral system of governance, which was divided into the upper house and lower house. Yet another difference between the two was pertaining to the number of votes each state had. While the Articles had a provision of one vote for every single state irrespective of its size, the US Constitution had the provision of one vote per representative or senator. Similarly, the new Constitution also made provision for executive and judiciary branches of the government, something which the Articles of Confederation didnt facilitate. When the Articles were the supreme law of the land, the national government required approval from 9 of the total 13 states to pass new laws. This was also changed in the new ConstitutionShow MoreRelatedArticles Of Confederation And The United States Constitution.1820 Words   |  8 PagesArticles of Confederation and the United States Constitution Cheryl Powers Chamberlain College of Nursing HIST 405 January, 2017 Articles of Confederation and the United States Constitution Introduction: The strengths and weaknesses of the Articles of Confederation vs. the new Constitution of 1787 Created by Continental Congress, the Articles of Confederation were the first promising attempts of aligning the 13 colonies of the United States. By 1781 the Articles were finalized and became

Law and Finance Money Launderings Laws/CDD Free Essays

string(84) " to understand their clients, put themselves at risk of significant financial loss\." Executive Summary In the recent times, new and innovative methods of funds transfer through electronic methods across the borders have increased. These have opened new opportunities for money laundering and financing of terrorism. With the recommendations made by the FAFT that the principle of Customer Due Diligence (CDD), conducted by financial institutions, be set out in law, a robust CDD system would be of paramount importance for financial institutions in the UK should FATF’s recommendations be implemented in the UK. We will write a custom essay sample on Law and Finance: Money Launderings Laws/CDD or any similar topic only for you Order Now Owing to globalization of businesses, a recommendable CDD team should comprise of human resources specialists, IT experts, law experts, financial experts, representatives in various countries along with functional area managers with a good understanding of various cultures. This would bring about effectiveness and efficiency in the application of CDD measures in the current world with the increased use of New Payment Methods. As such, a firm wishing to provide NPM as one of its services or products should ensure that it has the CDD team in place with various expertise. Introduction Recently, economics has witnessed money laundering alongside the issue of the financing of terrorism, among other issues. In correspondence to this point, the United Kingdom has played a key role in the international fight against money laundering through anti-money laundering (AML) legislation which has been made possible through the impetus of international organizations such as the Financial Action Task Force (FATF). As recently as February 2012, the FATF recommended that the principle of Customer Due Diligence (CDD), conducted by financial institutions, be set out in law. This was advocated in the recent FATF report â€Å"International Standards on Combating Money Laundering and the Financing of Terrorism Proliferation† published in February 2012. The following is a report by the head of AML at a large financial services firm, which advised the company’s board on the ‘perfect model’ for a robust system of CDD in order to ensure compliance should FATFâ €™s recommendations be implemented in the UK. Analysis of the objectives of an effective system of CDD and what it should contain The term ‘robust’, when used in this context, implies that the CDD system in question should possess an ability to effectively perform its function even when its assumptions or variables are misrepresented. The CDD model to be implemented should work effectively, without failure, in a diversity of circumstances and as such, it should not conflict with the law. As such, A perfect CDD system should contain tight and secure quality controls There should be effective policies, processes and procedures in place to ensure compliance with the regulatory requirements in the global arena Effective protective mechanisms should be put in place It should be cost effective –maximising on benefits while minimising costs. A perfect CDD system should be risk-sensitive Adoption of procedures such as ‘know-your-customer’, should be adopted within individual Jurisdictions Guidelines for the resolution of issues should be put in place should information made be inaccurate or insufficient. It should be strict and as such in compliance with the legislative laws It should be technologically competent given that the market is currently dominated by New Payment Methods which needs one to be technologically savvy Contents of a Robust CDD System A robust CDD system that can work in the current market described by high competition from the globe, Should contain human resources specialists with a strategic view of the particular organization since there is much competition from the international market. There should also be functional area managers in possession of technical expertise and the ability to think strategically (Rosenbloom 2002). Should contain experts with good knowledge of the national culture since the current market structure is globally inclined (Rosenbloom 2002). The institution in question should ensure that there is the inclusion of representatives from various parts of the world in the CDD team. These can help in the identification of data sources and as such help in the verification of the authenticity of various identities (Rosenbloom 2002). The CDD team should comprise of a group of experts in the law with a good knowledge of law in various parts of the world According to Steiner Marini (2008, p.14), the objective of CDD should enable the AML of a financial institution to predict with confidence the type of transactions that a customer is likely to hold. This cannot be achieved without tight and secure quality controls in place. Conceptually, CDD procedures begin by verifying the identity of the customer along with an assessment of the risks that may be associated with that particular customer. Enhanced CDD for high risk customers is highly recommended together with continuous due diligence of the customer base (Financial Action Task Force 2006). An effective CDD system should comprise of effective policies, processes and procedures to ensure compliance of the financial institution with the regulatory requirements that would allow the institution to report any activity deemed suspicious (Steiner Marini 2008, p.14). Furthermore, a robust system of CDD should be implemented with effective protection mechanisms equally directed to both the institution and its customers, considering, Data Protection Act provisions as well as the privacy rights of the customer. An effective CDD system should be cost effective and as such, it should deliver benefits to the institutions while respecting banking practices in the case of a banking institution (Mills 2011) It is important to bring out the point that CDD systems are meant to protect banks and other financial institutions from reputational, operational, legal and application risks among others, as these would result in large financial costs (Booth et al. 2011, p.218). They are also made to ensure that financial institutions have sufficient knowledge of their clients and as such, this is meant to ensure that banks and other financial institutions do not accept customers who are outside their normalized risk tolerance or in other words, clients engaging in any unlawful business. Knowledge of a client’s involvement in money laundering or terrorist financing is important as banks and other financial institutions, who fail to understand their clients, put themselves at risk of significant financial loss. You read "Law and Finance: Money Launderings Laws/CDD" in category "Essay examples" Therefore, effective CDD systems should make it difficult for clients to disguise ownership of accounts within banks. As such, adoption of procedures such as ‘know-your-customer’, should be adopted within individual jurisdictions, as this forms part of effective CDD programs or systems (Booth et al. 2011).. An effective CDD system seeks to ensure clear statements of the general expectations and specific responsibilities of staff. Thus, the management should allocate duties clearly with regards to who is responsible for reviewing or approving any changes to established risk ratings or to the profile of customers. As such, the AML of financial institutions should ensure sufficient customer information, since this is significant for the implementation of an effective system for monitoring suspicious activities (Schott, World Bank International Monetary Fund 2006). Insufficient customer information may make it hard for an AML to detect money laundering therefore, CDD system effectiveness can be achieved by incorporation of guidelines for the resolution of issues should the information obtained be inaccurate or insufficient (Mills 2011). In addition, current customer information maintenance is important if a CDD system is to be termed as effective. Notably, CDD should begin by identifying the customer along with the verification of their identity by use of independent source documents, information and data. At the same time, AML should ensure that the provisions of the Data Protection Act are complied with (Hopton, 2009 p.42). The due diligence process should be carried out on a risk sensitive basis (Steiner Marini, 2008). Besides, the measures taken should ensure consistency with the competent authorities along with enhanced due diligence applied to higher risk categories of customers. Simplified measures should be applied to lower risk customers. Strict compliance with the legislative laws should be observed (Booth et al. 2011). Accordingly, a high degree of transparency should be applied in the various transactions and as such, CDD should be applied in the preliminary stages of the establishment of a business relationship or in cases of excess cash transaction preparation (SchottWorld Bank International Monetary Fund 2006, p.44). Discussion of the risks, should there be gaps in the CDD processes Following the globalization of businesses, global financial systems operate with clients from all over the world. In this context, it is important to note that if CDD measures are not appropriately applied, then, this gives an opportunity for various losses. As such, failure to conduct CDD can lead to a reputational risk which translates to adverse publicity as far as the practices of the business are concerned. Inaccurate application of CDD measures may in this case lead to a loss of public confidence and as a result, may jeopardise the integrity of the institution. Subsequently, borrowers, investors, depositors and other stakeholders may cease business with that institution should scandals arise (Booth et al. 2011). Apart from the reputational risk, failure to conduct a careful CDD may lead to an operational risk. An operational risk refers to the loss incurred as a result of failed or inadequate processes, systems, external events and people involved. In addition, there is also a legal risk when one fails to carry out a full CDD measures (i.e. when one happens to leave gaps in the required processes). In particular, a legal risk has to do with the potential for law suits once involved in a money laundering case. Again, it may result in sanctions, unenforceable contracts, penalties and fines which may translate to significant financial costs (Steiner Marini 2008). Furthermore, the institution’s licences may be revoked and this may lead to the closure of the institution and as such, may be expensive for the institution since the losses involved may be costly (Fagan Munck 2009). Likewise, there is also the risk of concentration associated with the losses emerging from excess credit or loan disclosure to one borrower. Therefore, a lack of knowledge of the customer and the customer relations with the other borrowers may place a bank and any other financial institution at risk (Marks et al. 2012). This may also be a concern when there are related counter-parties, common income sources, connected buyers or assets for repayment. A robust CDD will need to apply KYC (Know Your Customer) which entails the identification of the customer through their national identification card, location, address and other related documents (Demetis 2010, p.64). This should be incorporated together with the KYCB (Know Your Customer’s Business) and as such, this is achieved by means of transaction profile, nature and type of business along with the sources of funds (Knight,International Monetary Fund Monetary and Exchange Affairs Dept 1998). Furthermore, the CDD should further apply KYT (Know Your Customer’s Transactions) which enables the management to know the customer’s transactions through a continuous and careful monitoring of transactions. In addition, a CDD system will work well through the application of KYE (Know Your Employees) which is meant to examine the institution’s employees by carrying out background checks along with a continuous monitoring of the systems for trustworthiness and loyalty to the institution (Alldridge 2003). Moreover, there should be continuous monitoring of customers in order to establish whether there are customer behaviour changes over time and in this case, transactions and other related activities should be monitored (Demetis 2010). It is imperative to note that a professionals within the financial sector can be sued for failing to perform due diligence. This is due to the fact that the institution has the obligation to conduct CDD and thus should be able to prove to any third party that every effort was made to ensure CDD (Tabb 2004) Similarly, if CDD were to fail, in such a case it would be advisable for the AML to close the account of that particular customer and as such to decline establishing a business relationship while ensuring that a suspicious transaction report is made. Money Laundering and the Law The approach of the FATF in recommending that the implementation of CDD measures should be set out in law is viable and realistic in terms of the practical application of such legislative changes. This is due to the fact that setting the CDD measures in law will ensure that legal action can be taken to deal with cases where the CDD measures have not been applied appropriately. Again, setting CDD measures out in law will improve the effectiveness of CDD measures carried out on various customers. Taking the example of the first CDD measure recommended to be set out in law, will ensure that the names of the customers are known, the location, country of origin, web data sources verified and as such customer contacts taken into consideration (Demetis 2010, p.64). In this respect, it will be mandatory for financial institutions to ensure that they only deal with customers with whom they are familiar. As a result, this will translate into effectiveness in the control of money laundering. In fact, this will ensure that all customers provide their details since it would be a requirement of the law along with the fact that this will also be incorporated in institutional policies and procedures. Therefore, before signing into any business relationship, customers and the institution in question will be governed by law, and failure to comply with this will lead both the customer and the institution in question to be held responsible. In reference to the second CDD measure to be set out in law, it is vital and realistic in the sense that the beneficial owner identity information will be disclosed, and any failure to comply would call for legal action to be taken against the customer. In this sense, it will not be difficult for banking and other financial institutions to get such information as it will be set out in law. Again, the institutions will avoid conflicting with the law as they will have to comply with the CDD measures. As far as the third CDD measure recommended by the FATF to be set in law is concerned, it is worth noting that obtaining information concerning the purpose and the intended nature of the relationship of the business will be a requirement of the law. As such, it will be required by the customer to avail such information as a requirement of the law rather than of the bank. This will make the work of the banking institutions and other related institutions much easier. Furthermore, the institutions will be forced to comply with the requirement of the law to implement the CDD measures. On the other hand, the fourth CDD measure recommended by FATF to be set out in law requires conducting a continuous monitoring of CDD on the relationship of the business while scrutinizing the transactions undertaken in the course of the relationship. Such monitoring ensures consistency in terms of the business and risk profile together with the source of funds. Once these are set out in law, it may be vital but not realistic in the practical applications in the sense that the privacy of the customers along with the institutional processes may be compromised (Evanoff, 2009). Subsequent to setting the financial principle that financial institutions should conduct, CDD should be set out in law with an aim that this will force institutions to comply; otherwise legal action would be taken. Again, such a step would translate to high levels of compliance by the institutions in question and as a consequence, effectiveness of anti-money laundering will be realized. NPMs and the Law The FATF recommendations requiring financial institutions to conduct CDD are viable and realistic, except for the fact that new payment methods (NPM) mean the law may need to more fully consider new technology. Notably, with an institution intending to make use of NPMs, money laundering may be inevitable. NPMs are well known for their vulnerability to money laundering and terrorist financing. Use of ATMs, prepaid cards, mobile and internet banking has presented a great opportunity for money launderers. However, there are some countermeasures that can prove viable. For instance, one countermeasure may be the implementation of a robust identification and verification procedures (FATF Report 2010). Such countermeasures may place limits on the transaction amounts and frequency,and include strict systems of monitoring of these aspects. In fact, not all NPMs are subject to law in all authority and as such, they take in the use of internet and mobile payment. Most NPM providers offer their products or services through both internet and mobile interfaces (i.e. virtual) and the FATF recommendations do not specify the specific risks involved and as such, NPM providers may not apply the CDD measures (FATF Report 2010). In this case, the practical application of such legislative changes as recently recommended by FAFT may not yield fruits especially with the use of NPMs. In spite of the challenges associated with the use of NPMs, it is important to note that the electronic records produced in this case can help with law enforcement (Marks et al. 2012). Importantly, a firm seeking to provide NPM as part of their service should consider the fact that there are three typologies depending on which one chooses to use. Here, the typology has to do with the third party funding whereby cards can be funded through the bank, cash and person to person transfers (FATF Report 2010, p.36). In addition, there is a second typology which includes the exploitation of a virtual nature (face-to-face) of NPM accounts (FATF Report 2010, p.40). This typology has the highest potential to facilitate criminals in money laundering. On the other hand, if the firm chooses the third typology (complicit NPM providers or their employees) there is also a high risk, as portrayed in findings made by the IPS where prepaid car providers were controlled by criminals and as such were promoting cases of laundering (FATF Report 2010, p.33). From this perspective, where the regulation of NPM service providers are prepared, law enforcement agencies, supervisors, and legislators amongst others, are faced with various challenges. Simplified due diligence, digital currency, and suspicious transaction reporting in cross border cases, and law enforcement against foreign providers with identification of secondary card holders for instance, can go some way to counteract this (Financial Action Task Force 2006),. Therefore, FAFT’s recommendation that financial institutions should conduct CDD, is viable and realistic, except in cases relating to new payment methods (NPM) where its recommendations may have more limited impact. Conclusion Following the recent recommendation by FAFT to set the CDD measures out in law, a robust CDD system that would work effectively in this context should contain a team of experts. Specifically, it should contain human resources specialists, functional area managers with cultural understanding of various parts of the world due to globalization,, representatives from various parts of the globe to ensure authenticity of data sources along with a team of information technology experts. This would facilitate the use of New Payment Methods common in the current market and as such, the team of law experts would make this happen in compliance with law in various states of the globe. References Alldridge, P 2003 Money Laundering Law: Forfeiture, Confiscation, Civil Recovery, Criminal Laundering and Taxation of the Proceeds of Crime, Hart Publishing, Portland Oregon. Booth et al. 2011, Money Laundering Law and Regulation: A Practical Guide, Oxford University Press, New York. Demetis, DS 2010, Technology and Anti-Money Laundering: A Systems Theory and Risk-Based Approach, Edward Elgar Publishing, Massachusetts. Evanoff, DD 2009, Globalization And Systemic Risk, World Scientific, New Jersey Fagan, GH Munck, R 2009, Globalization and Security: Social and cultural aspects. Introduction to volume 2, ABC-CLIO, Carlifornia FATF Report 2010, Money Laundering Using New Payment Methods, Retrieved on 20th April, 2012 from http://www.fatf-gafi.org/dataoecd/4/56/46705859.pdf. Financial Action Task Force 2006, Report on new payment methods, Retrieved on 24th April, 2012 from http://www.fatfgafi.org/media/fatf/documents/reports/Report%20on%20New%20Payment%20Methods.pdf. Hopton, D 2009, Money Laundering: A Concise Guide for All Business, Gower Publishing, Ltd. Burlington. Knight, MD International Monetary Fund. Monetary and Exchange Affairs Dept 1998, Developing Countries and the Globalization of Financial Markets, Issues 98-105, International Monetary Fund. Marks et al. 2012, Middle Market M a: Handbook for Investment Banking and Business Consulting, John Wiley Sons, New Jersey Mills, A 2011, Essential Strategies for Financial Services Compliance, John Wiley Sons, New Jersey. Rosenbloom, AH 2002, Due Diligence for Global Deal Making: The Definitive Guide to Cross-Border Mergers and Acquisitions, Joint Ventures, Financings, and Strategic Alliances, John Wiley Sons, New Jersey. Schott, PA, World Bank International Monetary Fund 2006, Reference Guide to Anti-Money Laundering And Combating the Financing of Terrorism, World Bank Publications. Steiner, H Marini, SL 2008, Independent Review for Banks – The Complete BSA/AML Audit Workbook, Lulu.com, North Carolina. Tabb, WK 2004 Economic Governance in the Age of Globalization, Columbia University Press, New York. How to cite Law and Finance: Money Launderings Laws/CDD, Essay examples

Alternative Dispute Resolution System †MyAssignmenthelp.com

Question: Discuss about the Alternative Dispute Resolution System. Answer: Introduction: In any organisation, it is important that the management comprehends and foresee the risks that are associated with the business carried out by the organisation. In general, risks imply loss and if an organisation were capable of turning the loss into a chance, it would be able to avert or diminish such risks completely (Glendon, Clarke and McKenna 2016). In order to diminish or avoid the risks that are associated with any business, it is imperative that the organisation adopts a risk management process. Risk management process requires that while carrying out the business, the management must consider and cautiously assess the situations and the scenarios that may and/or is likely to occur in the future. The risk management process of any organisation enables the management to recognise the risks associated with the nature of business operations carried out by the organisation and provides opportunity to reduce or evade the negative impact of such risks upon the organisation. In the given scenario, in order to enable the business to run smoothly during the project, the entire work has been divided into pre-construction stage and construction stage. The scope of the project during the pre-construction stage includes setting up works related to documentation that include grants and endorsements; scheduling and planning number of exercises. The scope further includes protecting any work related to pounding and digging and a guarantee of employing experienced staffs. During the construction stage, the scope of the project includes extension of the existing building for upgrading the same; to develop the building in a sheltered way and build the structure according to the plan. The scope further includes that the development of the building must be completed within stipulated time and the development is executed under safe condition as per the planned contract. As mentioned earlier, risk management is an essential element in any organisation and identification of risk is considered one of the most crucial procedures in risk management. In the event, the management of the organisation is unable to recognise the risks associated with the business, it would not be easy for the organisation to mitigate or evade such risks. The identification or recognition of business risks is fundamental, as unidentified risks cannot be treated in a rational manner (McGregor and Smit 2017). The construction industry includes various sources of risks such as availability, quality and expenses of the labour, subcontractors; construction delay, cash flow condition of the contractors and external influences. The construction industry includes certain inherent risks, which may arise owing to the unforeseeable nature of the industry. In the given case, the inherent risks that are likely to arise from both the pre-construction and the construction phase of the project are relatrred to the enumerated factors: Workers Engineering Statutory legislations Construction or development plan Development schedule Business operations Workers- the contractor is responsible to deal with or avoid any form of risks that may likely arise with respect to the workers engaged in the development project. The contractor is under statutory obligation to employ such workers who have adequate skills and suffuicient experience in the nature of work for which they have been employed in the construction project. The contractor must ensure that there is an effective collective bargaining between the workers and the contractors relating to their wage and the nature of work that is expected of them to do (Grey 2014). An ineffective collective bargaining may give rise to ethical issues as the workers may declare strikes or stoppage of work and cause unnecessary disruption (Sadgrove 2016). The workers may stop working owing to their discontentment regarding the progress of the project. If the workers are contented with the wage rate and the nature of work, they may cause disruption. Hence, the contractors are best able to handle such a situation and so the contractor must deal with such issues wisely and cautiously. Engineering- the engineer and the architect are responsible to prepare an effective development plan based on which the construction project is carried out. The developer of the construction project must exercise reasonable standard of care while working on the project. The must be cautious about any flaw in the construction plan and in the event any such shortcoming is detected, it is expected from the engineers and the architects to analyse the defect and deal with it effectively by exhibiting their skill and diligence (McNeil, Frey and Embrechts 2015). The inherent risk associated with this factor that there is a probability that the engineers and the architects may get involved in some malpractices and cause damage or loss to the construction project on the ground that they are entitled to relatively petite share of a project with an unlimited liability. Therefore, the owner of the project must ensure that the participants of the construction project are financially protected and may prepare some mutual indemnification for the participants. Statutory legislation- the construction project is regulated by the following relevant legislations: Building Act 1993; Competition and Consumer Act 2010; Corporation Act 2000; Planning and Environmental Act 1987; Building and construction Industry Security of Payment Act 2002; Victorian Civil and Administrative Tribunal Act 1998; Information Act 2000 and Goods and Service Tax Act 1999 The risks that are associated with the pre-construction and the construction stage of the project phase may be related to the inconsistency with the statutes that regulates the project. The engineer is responsible to ensure that the development project is being carried out in accordance to the relevant legislations. Construction or development plan- the contractor is accountable for any risks that are connected with the development plan. The contractor is best able to deal with the risks that may likely arise out of the construction plan structured by the engineer and the architect. The decisions with respect to the methods of implementing the construction plan are left to the contractor of the construction plan (Ball 2014). Therefore, before engaging the contractor with tye development plan, the management must ensure to distinguish between the risks that are possible for the contractor to handle and those risks, which are beyond the control of the contractors. Development schedule- the scope of the project at the construction stage includes that the project must be completed within stipulated time. The participants of the construction project are statutorily obligated to complete the project within the stipulated schedule. The contractor must ensure that the work is completed as per the schedule and the project is handled in a cost-effective manner. The inherent risks related to the construction projects shall result in purchasing of poor quality products and the architects and engineers will have to rush into the construction, which might give rise to deficiency in the construction project. Therefore a reasonable and an adequate schedule must be framed in order to complete the project appropriately. Business Operations- the nature of the construction industry is very complex and it easily becomes subject to unnecessary disputes. The inherent risks included in the business operations may take place from the very inception of the construction project. The site of the project may be different from the site that was imagined. It is highly imperative that the management identifies the risk and deal with the same effectively in order to enable the participants to complete the construction in accordance with the construction plan and within stipulated time (Taroun 2014). In addition to the above-mentioned inherent risks, the construction industry is prone to another vital risk that is, issues related to safety and health environment in the workplace. The contractors, being accountable for the workers engaged in the construction work, must ensure that the workers are aware of the safety rules and are acting in compliance of the safety rules applicable in the workplace. Dispute Resolution Since the nature of the construction industry is fragment and complicated, in case of disputes arising from the project, the parties to the dispute may resort to litigation. However, it is a well-known fact that litigation process is not only time consuming but it also involves huge amount of expenses (Fiadjoe 2013). Consequently, a number of dispute resolution processes have been introduced in the construction industry to relive the parties to the dispute from the lengthy and expensive court proceedings. The different forms of alternative dispute resolution processes include mediation, arbitration, expert determination and conciliation. Mediation is the process where a third party shall be appointed who would address the issues between the parties to the dispute and act as a mediator to resolve the dispute. However, either parties to the dispute may or may not agree with the mediators decision. In this case, the expert determination process may be used as a dispute resolution process to address the issues and resolve the same. This process may used to deal with the inherent risks that may arise during the pre construction and the construction stage (Menkel 2015). The expert determination process is usually used to resolve issues that are related to valuation. In th even of any dispute arising out of valuation with respect to the construction, the expert may determine the same and the decision of the expert shall be binding upon the parties to the dispute. However, this dispute process is economic but the decision of eth expert cannot be enforced without further court proceedings. In the given context, I would prefer the arbitration process of dispute resolution. Arbitration is the process where the parties to the dispute may consensually appoint an arbitrator to resolve the dispute (Pryor 2016). The parties are at liberty to select an arbitrator who is not only qualified but also adequately experienced in the field of arbitration. The arbitrator shall resolve the issues based on the legal principles and material facts of the matter in dipute. Further, this process in economic and less time consuming, thus it would enable to resolve the issues more quickly as compared to the litigation process. Further, the decision of the arbitrator shall be unbiased and impartial by nature, which implies that issues shall be dealt with on fair terms. Furthermore, the decision of the arbitrator shall be binding and enforceable at law and it ensures legal compliance with the statutes as the decision is based on the relevant legal principles. Reference List Ball, M., 2014.Rebuilding Construction (Routledge Revivals): Economic Change in the British Construction Industry. Routledge. Fiadjoe, A., 2013.Alternative dispute resolution: a developing world perspective. Routledge. Glendon, A.I., Clarke, S. and McKenna, E., 2016.Human safety and risk management. Crc Press. Grey, S., 2014. Risk management deficiencies in the engineering sector (1048). InMastering Complex Projects Conference 2014(p. 473). Engineers Australia. McGregor, A. and Smit, J., 2017. Risk management: Human rights due diligence in corporate global supply chains.Governance Directions,69(1), p.16. McNeil, A.J., Frey, R. and Embrechts, P., 2015.Quantitative risk management: Concepts, techniques and tools. Princeton university press. Menkel-Meadow, C., 2015. Mediation, arbitration, and alternative dispute resolution (ADR). Pryor, W., 2016. Alternative Dispute Resolution.SMU L. Rev.,2, pp.3-517. Resolution, A.D., Making, A.D., Policy, C., Cooperation, C., Infrastructure, I.P., Platforms, M.S., Treaties, W.A., Magazine, W.I.P.O., by Unit, A., Reporting, F. and des Colombettes, C., 2013. Alternative dispute resolution. Sadgrove, K., 2016.The complete guide to business risk management. Routledge. Spencer, D. and Hardy, S., 2014.Dispute Resolution in Australia: cases, commentary and materials. Thomson Reuters. Taroun, A., 2014. Towards a better modelling and assessment of construction risk: Insights from a literature review.International Journal of Project Management,32(1), pp.101-115.

The Asain Finacial Crisis Essays - Foreign Exchange Market

The Asain Finacial Crisis The Asain Finacial Crisis The beginning of the Asian financial crisis can be traced back to 2 July 1997. That was the day the Thai Government announced a managed float of the Baht and called on the International Monetary Fund (IMF) for 'technical assistance'. That day the Baht fell around 20 per cent against the $US. This became the trigger for the Asian currency crisis. Within the week the Philippines and Malaysian Governments were heavily intervening to defend their currencies. While Indonesia intervened and also allowed the currency to move in a widened trading range a sort of a float but with a floor below which the monetary authority acts to defend the currency against further falls. By the end of the month there was a 'currency meltdown' during which the Malaysian Prime Minister Mahathir attacked 'rogue speculators' and named the notorious speculator and hedge fund manager, George Soros, as being personally responsible for the fall in value of the ringgit. Soon other East Asian economies became involved, Taiwan, Hong Kong, Singapore and others to varying degrees. Stock and property markets were also feeling the pressure though the declines in stock prices tended to show a less volatile but nevertheless downward trend over most of 1997. By 27 October the crisis had had a world wide impact, on that day provoking a massive response on Wall Street with the Dow Jones industrial average falling by 554.26 or 7.18 per cent, its biggest point fall in history, causing stock exchange officials to suspend trading. Countries such as Thailand, Indonesia, Malaysia and the Philippines have embraced an unusual policy combination of liberalisation of controls on flows of financial capital on the one hand, and quasi-fixed/ heavily managed exchange rate systems on the other. These exchange rate systems have been operated largely through linkages with the United States (US) dollar as their anchor. (1) Such external policy mixes are only sustainable in the longer term if there is close harmonisation of economic/ financial policies and conditions with those of the anchor country (in this case, the United States). Otherwise, establishing capital flows will inevitably undermine the exchange rate. Rather than harmonisation, there seems to have actually been increased economic and financial divergence with the US, especially in terms of current account deficits, inflation and interest rates. These increasing disparities have prompted global (and local) financial interests to speculate against the administered exchange rate linkages, i.e. speculative pressure mounted that the monetary authorities in these countries would not be able to hold their exchange rate links. In most cases, such financial speculation has been of sufficient magnitude to actually provoke the collapse of the administered exchange rate links, in the manner of 'self fulfilling' prophecies. Defence of the exchange rate through the use of foreign exchange reserves and higher interest rates proved to be insufficient. (2) The result has been large devaluation's of the exchange rates of these countries, especially against the US dollar. Large interest rate increases to support the exchange rates at their new lower levels (to prevent wholesale over reaction and collapse in foreign exchange markets and to help contain the strong inflationary forces set in motion); and extra restrictions in fiscal policy. Designed to rise national saving, contain domestic spending and reassure foreign investors and international institutions such as the International Monetary Fund (IMF). Figure 1 shows the magnitude of this devaluation's. The IMF had arranged conditional financial support packages for Thailand and Indonesia. (3) Financial support is provided in exchange for (on condition of) economic policy reforms which, it is argued, will encourage economic recovery and help prevent a recurrence of the turmoil these countries are now experiencing. In the case of Australia, help to Thailand has taken the form of a 'currency swap' where Australia's US dollar assets of up to $1 billion were exchanged for Thai Baht, with an agreement that the reverse exchange would occur at a future point in time. These financial crises have also provoked substantial falls in the stock markets of these countries and in other parts of Asia. (They also contributed to stock market falls around the world). Foreign investor funds would have been initially withdrawn as exchange rate speculation mounted, and this would have partly taken the form of a sell off of foreign-owned stock. As well, much higher interest rates (both before and after the currency devaluation's) encourage flows of funds out of shares and into loan/ debt-type assets. In turn, higher interest rates and lower exchange rates have substantially increased the rate of collapse/ bankruptcy of businesses operating in highly leveraged sectors (especially where loan contracts were written in foreign

How to Determine a Reading Schedule

How to Determine a Reading Schedule Despite your best efforts, its sometimes difficult to stick with your plan to finish that list of books. Other projects get in the way. You may find yourself overwhelmed by the size of the book youve chosen. You may just let the habit of reading slide or slip until youve forgotten much of the  plot and/or characters; and, you feel that you might as well just start over. Heres a solution: Set up a reading schedule to get you through those books! All you need to get started is a pen, some paper, a calendar, and of course, books! How to Set up a Reading Schedule Pick a list of books youd like to read.Determine when you will start reading your first book.Select the order in which youd like to read the books on your reading list.Decide how many pages you will read every day. If youve decided that youll read 5 pages per day, count the number of pages in the book that youve selected to read first.Write the page span (1-5) down on paper next to your selected start date. Its also a great idea to write your schedule up on the calendar, so you can track your reading progress by crossing off the date when youve finished your reading for that day.Continue through the book, tracking where each stopping point will be. You may decide to mark the stopping points in your book with a post-it or pencil mark, so the reading will seem more manageable.As you page through the book, you may decide to alter your reading schedule (add or subtract pages for a particular day), so youll stop and/or start on a new chapter or section of the book.Once youve determined th e schedule for the first book, you can move on to the next book on your reading list. Follow the same process of paging through the book to determine your reading schedule. Dont forget to write the page numbers down next to the appropriate date on a piece of paper and/or on your calendar. Get Outside Support By structuring your reading schedule in this way, you should find it easier to get through those books on your reading list. You can also get your friends involved. Share your schedule with them and encourage them to join you in your reading. Its great fun, youll be able to discuss your reading experience with others! You could even turn this reading schedule into a book club.

History of Russia Essay Example | Topics and Well Written Essays - 3000 words

History of Russia - Essay Example ever, later internal conflicts, political tension as well as socio-economic difficulties of the country forced it to go for a bloody revolution which brought into power Lenin and so called Bolsheviks. Joseph Stalin was part of the Communist Party of Russia, which was instrumental behind the revolution of 1917. Joseph Stalin was one of the most important characters in the history of Russia after revolution. The revolution that was materialized by Lenin and has comrades finally resulted into establishing the dictatorship of Joseph Stalin. He was the General Secretary of the Communist Party of Russia until his death and rose to the prominence only after the death of Lenin. His rise to the power is a really interesting story because he carried forward the beliefs and values which he adapted as a child and as an adolescent. His era was one of the most important eras for Russia in terms of economic progress as there was a massive shift from rural based economy to more industrial economy within Russia. In order to assess whether the era of Stalin represented a significant break from the course begun by Lenin and his party, it is very important that we must first understand the circumstances behind the rise of Stalin to the power. Stalin’s early life wasn’t well as he was born in a family which was not financially well off however, as he grew, he developed himself as a person who has great liking for bank robberies, kidnapping, extortion etc. since his joining of the Communist party, he took active part into such activities and was jailed too. However, he continued to impress the leaders within the communist party for his superiority in executing such activities. The Russian revolution was largely a result of internal socio-economic conditions, which were mostly considered as oppressive and were against the interest of the common Russian. The Tsars of Russia was mainly behind creating political tension within the country which was also widening the class gap within

John Locke and property righs Essay Example | Topics and Well Written Essays - 750 words

John Locke and property righs - Essay Example This position allowed Rawls to address two contemporary issues that are equally important but also tend oppose each other’s views: freedom and equality. The Rawlsian theory of justice is influenced by Hume’s philosophy with its critique of justice, that which prioritizes conventions and universal meaning (Forbes, 1985, 68). Hume talked about artificial justice and Rawls coined the so-called artificial device or the â€Å"original position†, which is used to determine justice. It also takes inspiration from Kantian principles, which emphasize moral nobility and the complexity and richness of human life and experience. The beauty of Rawls’ philosophy is its simplicity. The challenge of including the interests of the whole or the large number as well as those of the individual’s was addressed assuming a degree of ignorance in order to attain a desired fairness. It first rejects everything in order to get to the bottom of fairness, and justice is then d etermined. What this means is that similar crimes would have different resolutions because the conditions and parties in each crime are different. Also, there are crimes that in traditional justice could easily be punished because it fits a conventional mold. Let us suppose that a man is accused of racism because he calls someone a Negro, along with several derogatory remarks. Rawlsian philosophy does not jump into conclusion and, instead, tries to understand the situation according to several approaches and involves the reflection on several case-specific variables. The â€Å"original position† is the first of these and the second is what Rawls referred to as â€Å"reflective equilibrium†. In explaining the concept, Rawls (1999) stated that â€Å"justification is a matter of the mutual support of many considerations, of everything fitting together into one coherent view† (19). This approach to justice is radically different from the current system used in most societies. However, it depicts a framework that indicate a highly effective process because it determines and metes out justice within the context of the circumstances of the parties involved. This aspect covers the many different conceptions and interpretations of justice. For instance, retributive justice emphasizes the proportionality of the punishment to the crime committed so that it is not greater or lesser than the harm perpetuated. There is also the case of restorative justice, which follows a more benign framework, focusing on â€Å"healing† as the more preferable outcome for all stakeholders involved including the victim and the offender. Rawlsian philosophy breaks through the differences of these other theories by identifying the fundamental variable in determining justice and work its way from there. By focusing on fairness and the contexts behind actions, Rawls was able to develop a more inclusive model. While Rawlsian philosophy has earned accolades and recognit ion, it also has its share of criticisms. One of the most important is his focus on the individual. For example, if a system of justice will follow the â€Å"reflective equlibrium model† there are those who point out that it would involve several judgments and doctrines based on different backgrounds of those involved, resulting to an almost infinite number of equlibria (Maffettone, 2010, 139). The critics come from all philosophical inclinations. There are those coming from

Constructivist and Liberalist Argument on State Shared Value

Constructivist and Liberalist Argument on State Shared Value According to realism, relations between states in the anarchical world is doomed to the state of constant conflict in which states can only count on themselves. Whatever cooperation exists in the world they prescribe it to the hegemonic order. This means that hegemon, creates institutions which facilitate cooperation but that these institutions are carriers of hegemonic interests and their existence is related to the existence of a hegemon. Representatives of liberal school deny the abovementioned argument and point at contemporary networks of cooperation in many fields which they see as a positive current in the world politic. Realists and liberals agree that the status of international system is anarchy and sovereign states make up the international order. As Alexander Wendt stated in 1992 in his article[1]: neorealists and neoliberals share generally similar assumptions about agents: states are the dominant actors in the system and they define security in self-interested terms[2]. As for the Liberals, they underline the importance of international institutions and cooperation between states thus placing a principle of the shared values in the center of state-behavior. Constructivist Argument According to Alexander Wendt, concept of power politics is socially constructed: If self-help is not a constitutive feature of anarchy, it must emerge casually from processes in which anarchy plays only a permissive role. This reflects a second principle of constructivism: that the meanings in terms of which action is organized arise out of interaction[3] Wendt views self-help as something not given by nature but instead, socially constructed. Having in mind the fact that power politics is socially constructed means that it can be transformed by human practice. Furthermore, constructivists look at international arena as a constructed structure which is built by socio-cultural practices, ideas, domestic and international interactions. According to Wendt, the basic tenets of constructivism are the structures of human association that are determined primarily by shared ideas rather than material forces, and that the identities and interests of purposive actors are constructed by these s hared ideas rather than given by nature[4]. According to the theory of constructivism the effect of anarchy on the state is proportionate to the states perception of anarchy, identity and interest. If in the state of Anarchy state A perceives the rise of power of state B as threat to its security, then a security dilemma is created and states apply to the self-help principle. But, if state A and state B view their security in the form of cooperation and collaboration, then a security dilemma is not formed, thus not establishing logical grounds for self-help principle to develop. Alexander Wendt in his article anarchy is what state make of it: The social construction of power politics states that: the nature of international anarchy appears to be conflictual if states show a conflictual behaviour towards each other, and cooperative if they behave cooperatively towards one another. Therefore, it is states themselves that determine anarchys nature.[5] Liberal argument Representatives of liberal theory agree with realists on a notion that international system is anarchical. But unlike realist, liberalism mitigates the risks coming from the nature of anarchy with cooperation and collaboration between states.[6]. While liberalism agrees on an anarchical condition of international politics, it provides three main mechanisms that can explain a state behavior in order to avoid the risks coming from the anarchy: consolidation of democracy, economic interdependence, and transtational institutions.[7] In order to mitigate the threats and risks coming from the anarchy representatives of the liberal theory believe that states should become more interdependent with each other. Shared democratic values and economical interdependence significantly reduces the risk of military confrontation between states. Free trade relations between states, which result in a close economic ties between its citizens, excludes the chance of military confrontation with each other. According to Michael W. Doyle: Wars occur outside the liberal zone because conflicts of interest are deeper there.[8] Liberalism also allows a probability of the world peace despite the anarchical feature of international politics. If the state behavior is prone to establishment of international organizations and institutions then this behavior may lead to the long term cooperation between the member nations which share the same values. According to the liberalism military conflicts are not inevitable but can be prevented through collaboration. The development of an international organization such as United of Nation, NATO and European Union are the examples of cooperation between states that could promote stability. A central claim of this theory is that once created, institutions tend to persist, because it is cheaper to maintain institutions than to create new ones. Therefore, when confronted with new sets of problems, states seek to modify an already existing institution to meet new challenges. Thus, institutional liberal theories have easier time explaining why NATO persisted after the end of the Cold War even when the enemy that it was supposed to counter disappeared. Liberalism underlines the significace of the shared values between states. The principle of shared values can explain state behavior as they create alliances and develop joint capabilities, rather than focusing only on the development of their own.

The Trolley Dodgers

In 1890, the Brooklyn Trolley Dodgers professionals’ baseball team joined the National League. Over the following years, the Dodgers would have considerable difficulty competing with the other baseball themes in the New York City area. Those teams, principal among them the New York Yankees, were much better financed and generally stocked with players of higher caliber. In 1958, after nearly seven decades of mostly frustration on and off the baseball field, the Dodgers shocked the sports world by moving to Los Angeles. Walter O’Malley, the flamboyant owner of the Dodgers, saw an opportunity to introduce professional baseball to the rapidly growing population of the West Coast. More important, O’Malley saw an opportunity to make his team more profitable. As an in document to the Dodgers, Los Angeles Country purchased a goat farm located in Chavez Ravine, an area two miles northwest of downtown Los Angeles, and gave the property to O’Malley for the site of his new baseball stadium. Since moving to Los Angeles, the Dodgers have been the envy of the baseball world: â€Å"In everything from profit to stadium maintenance†¦the Dodgers are the prototype of how a franchise should be run. †? During the 1980s and 1990s, the Dodgers reigned as the most profitable franchise in baseball with a pretax profit margin approaching 25 percent in many years. In late 1997, Peter O’Malley, Walter O’Malley’s son and the Dodgers principal owner, sold the franchise for $350 million to media mogul Rupert Murdoch. A spokesman for Murdoch complimented the O’Malley family for the longstanding success of the Dodgers organization. â€Å"The O’Malley’s have set a gold standard for franchise ownership†. ? During an interview before he sold the Dodgers, was seemingly a perfect example of one of those experts he had retained in all functional areas: â€Å"I don’t have to be an expert on taxes, split-fingered fastballs, or labor relations with our ushers. That talent is available. †? Edward Campos, a longtime accountant for the Dodgers, was seemingly a perfect example of one of those experts in the organization. Campos accepted an entry-level position with the Dodgers as a young man. By 1986, after almost two decades with the club, he had worked his way up the employment hierarchy to become the operations payroll chief. After taking charge of the Dodgers’ payroll department, Campos designed and implemented a new payroll system, a system that reportedly only he fully understood. In fact, Campos controlled the system so completely that he personally filled out the weekly payroll cards for each of the four hundred employees of the Dodgers. Campos was known not only for his work ethic but also for his loyalty to the club and its owners: â€Å"The Dodgers trusted him, and when he was on vacation, he even came back and did the payroll. †? Unfortunately, the Dodgers’ trust in Campos was misplaced. Over a period of several years, Campos embezzled several hundred thousand dollars from his employer. According to court records, Campos padded the Dodgers’ payroll by adding fictitious employees to various departments in the organizations. In addition, Campos routinely inflated the number of hours worked by several employees and then split the resulting overpayments fifty-fifty with those individuals. The fraudulent scheme came unraveled when appendicitis struck down Campos, forcing the Dodgers’ controller to temporarily assume his responsibilities. While completing the payroll one week, the controller noticed that several employees, including ushers, security guards, and ticket salespeople, were being paid unusually large amounts. In some cases, employees earning $7 an hour received weekly paychecks approaching $2,000. Following a criminal investigation and the filing of charges against Campos and his cohorts, all the individuals involved in the payroll fraud confessed. A stale court sentenced Campos to eight years in prison and required him to make restitution of approximately $132,000 to the Dodgers. Another of the conspirators also received a prison sentence. The remaining individuals involved in the payroll scheme made restitution and were placed on probation. QUESTIONS AND ANSWERS 1. Identify the key audit objectives for a client’s payroll function. Comment on both objectives related to tests of controls and those related to substantive audit procedures. Ans: The key audit objectives for a client’s payroll function are occurrence, completeness, accuracy, pasting and summarization, classification and timing. On the occurrence objective the related test of control could be examining the time cards, personnel files, reviewing organization chart to see if the payroll payments are for exiting work and for existing employee and the substantive test for the occurrence objective is to see if the right amount of payroll is paid to the right employee and were recorded properly. On the completeness objective the test of control could be to see if the existing payroll were recorded and the substantive test is to compare the book and the payroll bank statement and look for the unmatched amount. For the accuracy objective, the test of control is to examine if the right hours and rate are recorded, tax withholding is correct while the substantive test is to test for exact amount by recalculating gross pay and net pay, comparing pay rate with the industry also. For posting and summarization objective, the test of control could be comparing the master files total with general ledgers total and while the substantive test is by footing the payroll journal and tracing postings to the journal ledger and the payroll master file. The test of control for the classification objective is to review charts of accounts while the substantive test is to review the time cards and job ticket. Lastly, for the timing objective, the test of control is to examine procedures and observe if recording is taking place while the substantive test is to compare date on checks. . What internal control weaknesses were evident in the Dodgers’ payroll system? Ans: The internal control weaknesses in the Dodger’s payroll system is that Campos, who is happen to be the operations payroll chief, is the one who designed and also implemented a new payroll system that only him that could fully understand. Also other weaknesses is that there is no independent check a nd performance, there is also no separation of duties, and Dodgers work environment would be a weakness because Campos and others have low work ethic. 3. Identify audit procedures that might have led to the discovery of the fraudulent scheme masterminded by Campos. Ans: Audit procedures that might discover the fraud is by understanding Dodger’s payroll chart because auditors would see if there are no independent check and performance and no separation of duties. Another thing is that to interview employees in the payroll department. Test for nonexistent employee, reconciling the total hours paid in payroll records with that in an independent record of the hours worked and observing employee time in.

Jenny: A Character Analysis Essay

INTRODUCTION This paper is a two-part personality analysis of Jenny’s character in the movie Forrest Gump. Jenny is the lead character’s childhood friend who, as a child, is sexually and physically abused by her own father and, as a young adult, gets into drug addiction and attempts suicide, and eventually succumbs to an early death, leaving behind Forrest and their only son. Section I looks at Jenny from the points of view of Social Cognitive and Psychodynamic theories. Section II is an in-depth analysis of Jenny’s personality using Social Cognitive Theory.    Section I:  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Character Personality Matrix Theory Major Components Structure Process Growth and Development Psychopathology Change    Social Cognitive Theory    Jenny has a talent in singing but has poor self-perception, low self-efficacy and does not have goals.    Jenny lacks self-regulation.       Jenny has a mal-adaptive personality which is a result of her low self-efficacy. She could have learned her anti-social or maladaptive behavior (drug use, being associated with anti-social peers, and suicidal tendencies, among others) through observation from models as well as through direct experience. She was brought up by an abusive father, she has witnessed aggression (she was present when Forrest was bullied by the kids at school) and, as a grown-up, been a direct recipient of an aggressive behavior (she was hit in the face by her boyfriend in the Blank Panther party).       Jenny’s maladaptive behavior is a result of dysfunctional learning — she has observed and directly experienced inadequate or sick models (his father and his peers) — and maintained this kind of learning through reinforcement. She seems to have a phobia in relationship, that’s why she keeps running from Forrest who loves her and whom she professes to love.    Jenny shows a remarkably altered behavior toward the end of the movie — the result of her acquiring new thought patterns and behavior, and improved self-efficacy. Psychodynamic Theory Jenny has a weakened ego caused by an internal conflict. Jenny is suffering from anxiety caused by earlier trauma (her traumatic experience with her father, and even her experience of witnessing traumatic events happen to Forrest). Jenny is living in a distorted reality. She has learned to repress her emotions. She may also be living in denial of her traumatic past. Jenny’s maladaptive behavior from young adulthood and into adulthood are mainly caused by her traumatic experiences when she was a young girl (that is, the physical and sexual abuse she received from her father). Jenny exhibits a conflict of wishes and fears. She has carried over into adulthood her childhood wishes and dreams. Jenny’s altered behavior toward the end of the movie may be the result of undergoing cathartic hypnosis or free-association method.    Section II:  Ã‚  Ã‚  Ã‚  Ã‚   Application of Personality Theory    Theory Description and Rationale Social cognitive theory is a personality theory proposed by Albert Bandura and Richard Walters in 1963. Taking its roots from the social learning theory proposed by Neal Miller and John Dollard in 1941, it views people as â€Å"neither driven by inner forces nor automatically shaped and controlled by external stimuli†¦ [but are] active agents who exercise some influence over their own motivation and actions,† (Bandura, 1986, p. 18, 225). It views people as â€Å"self-organizing, proactive, self-reflecting and self-regulating rather than as reactive organisms shaped and shepherded by environmental forces or driven by concealed inner impulses,† and human processes as â€Å"the product of a dynamic interplay of personal, behavioral, and environmental influences,† (Fajares, 2002). What’s good about the theory is that it takes into account the individual’s beliefs and expectations. It emphasizes that although reinforcement and punishment affect motivation, they do not directly cause behavior. According to the theory, the beliefs that people have about themselves are critical in their response to situations. People are both products and producers of their own environments and of their social systems, and, though they are influenced by their environment, their interpretations of their situations greatly shape their behavior. Humans, in the view of the theory, posses intricate capabilities that define what it is to be human. They can symbolize and deduct meanings from symbols, learn, self-regulate, and self-reflect, among other things, and these capabilities help them define their own personality (Fajares, 2002). According to the theory, modeling, which can be direct (from live models), symbolic (from books, movies, and television), or synthesized (combining the acts of different models), lies at the core of social cognitive theory. Modeling can cause new behaviors, facilitate existing behaviors, change inhibitions, and arouse emotions (Pervin, 1989). The choice of the social cognitive theory to analyze the character of Jenny in the movie, Forrest Gump is mainly due to the author’s perception of the theory as the most comprehensive of all the personality theories, and hence, the most fitting to analyze the character in question. The theory takes into consideration factors that behavioral and cognitive theories dismiss. It can also clearly explain things that the other theories cannot explain, as it does not have as many limitations as the other personality theories. Character Description From the view of the social cognitive theory, Jenny is a talented woman, but has poor self-perception and low self-efficacy. This means that she most likely thinks of herself as incapable of coping with situations. Likewise, Jenny has poor self-regulation and is without goals. This means that she does not have a guide that will help her to establish her priorities, and is more likely incapable of regulating her own behavior. Having directly experienced physical and sexual abuse from her father as a child, and having lived in an environment that tolerates maladaptive behavior as a young adult, Jenny eventually exhibited maladaptive behavior herself as a result of the interplay of her environment and her poor self-perception, self-efficacy and self-regulation. It is also a result of her dysfunctional self-conception and expectations. Towards the end of the movie, we see an altered Jenny. She is more mature in appearance and in the way she carries herself. She is shown performing a normal job (a waitress) and finds it easier to talk to Forrest about why she keeps running away from him. From the point of view of the social cognitive theory, this improvement in her behavior is a result of an improved self-efficacy and the acquisition of new thought pattern and behavior. From the point of view of the psychodynamic theory, Jenny may be described as one who has a weakened ego due to her internal conflicts, which is brought about by her traumatic experiences in the hands of her father when she was a child. She has carried into adulthood the memories of the traumatic experiences of her childhood, albeit in a repressed manner. She may not be conscious of the underlying problems in her personality, but it is shown in the way she keeps running away from Forrest whom she says she loves, and as manifested by her involvements with drugs and her having suicidal tendencies, among others. The altered Jenny that we see in the movie may have been the result of undergoing cathartic hypnosis or free-association method. She could have finally discovered and resolved her inner conflicts and set free her repressed memories. Character analysis Structure    The character of Jenny in the movie has a talent in singing. In fact, her dream is to become a professional singer. As a young kid, Jenny showed ability to relate with another person on a personal level; she and Forrest taught each other some tricks. She also showed the ability to encourage others to overcome their fears; she urged Forrest to climb tree, shouting, â€Å"Come on Forrest, you can do it!† from the tree top. However, even as a kid, she already seemed to have escapist tendencies: she is seen running away from her father, and praying to God: â€Å"Dear God, make me a bird, so I can run far, far away from here† (Tishe, Finerman, & Zemeckis, 1994). She also urges Forrest to run away and to run fast whenever she sees her friend being bullied. She shouts: â€Å"Run Forrest, run!† Many years later, when Forrest was assigned to Vietnam, she would advise him not to try to be brave but to run away from trouble, fast. But while her friend’s Forrest’s runs are in the literal sense, Jenny’s is both in the literal and in the figurative senses. She did a lot of running, but not away from trouble, but towards it, and away from the person she loves — Forrest. Viewed from the structure of her personality through the lens of social cognitive theory, Jenny appears to have poor self-perception, as manifested when, as an answer to Forrest’s question as to why she wouldn’tt marry him, she says it is Forrest who would not want to marry her (implying that Forrest deserves someone better than her) and, again, when she gives Forrest her being screwed up as the reason for her running away from him. She tells him when she explained for the first time why she kept going out of his sight: â€Å"I was just messed up† (Tishe, Finerman, & Zemeckis, 1994). Jenny likewise has a poor self-efficacy. According to Bandura (1986) in Pajares (2002), self efficacy is the perceived ability to cope with specific situations. It is the people’s â€Å"judgments of their capabilities to organize and execute courses of action required to attain designated types of performances.† Having a poor self-efficacy hindered Jenny from achieving her dream of becoming a famous singer because self-efficacy is the very basis of motivation. People with poor efficacy tend to avoid activities that they perceive to be beyond their capabilities, may not put much effort to achieve their dreams, may not persist when there are obstacles, may have negative thought patterns while performing the tasks needed to be done to achieve their dreams and may have negative emotional reactions while anticipating an event, or in the middle performing a task. Hence, she always finds herself wanting to fly but couldn’t. Finally, though Jenny had dreams of a good future, she did not have goals. According to the social cognitive theory, goals are those that â€Å"guide us in establishing priorities among rewards and in selecting among situations that enable us to go beyond momentary influences and to organize our behavior over extended period of time,† (Pervin, 1989, p.338). Jenny failed to establish her priorities and overcome the bad influences in her life and to have an organized behavior over a period of time. Hence, since attending an all-girl school, she has been involved in maladaptive behavior, such as getting into drugs, being with bad crowds, having suicidal tendencies, as well as having relationship phobia, among others. Process As a young kid, Jenny had been exposed to and directly experienced aggressive behavior from his father, and from the bullies who mistreated Forrest in her presence. And while attending an all-girl school, she might have had negative influences from peers, and these negative influences may have been accepted in her new environment. Having been introduced to an environment that gave positive rewards to bad behavior by means of acceptance, Jenny eventually turned out doing the modeled behavior. But more than just having been thrown in an environment that accepts negative behavior, the more important thing that could have contributed to Jenny’s maladaptive behavior is her lack of the ability to self-regulate. Self-regulation involves an individual’s ability to control their behavior rather than mechanically reacting to external influences (Pervin, 1989). If Jenny was able to self-regulate, meaning, she was able to process the influences modeled to her such that she was able to assign which behavior was socially acceptable, and which behavior was not, she could have prevented herself from succumbing to the negative influences modeled to her. According to the social cognitive theory, behavior is maintained by expectancies or anticipated consequences. Individuals learn to set appropriate goals for themselves, and reward themselves with self-praise, when they are able to model the behavior and with guilt when they fail to. Moreover, behavior is not exclusively regulated by external forces; there is a process of self-reinforcement through which individuals reward themselves for attaining the standards they set for themselves (Pervin, 1989). Jenny, who does not have goals in the first place, as mentioned in the structure section of this paper, also does not seem capable of self-regulating. Growth and Development As a result of her low self-efficacy, Jenny has developed a maladaptive personality which she learned through observation from models as well as through direct experience, having been brought up by a physically and sexually abusive father, and having witnessed and directly experienced aggression outside of the home; she was present when Forrest was bullied by the kids at school and, as a grown-up, been hit in the face by her boyfriend during an argument in a Blank Panther party. Jenny seems not to have become an aggressive person, but she developed maladaptive behavior. Her aversive experiences drove her to use drugs, develop phobia of relationship, and to attempt or contemplate suicide. Psychopathology Jenny’s maladaptive behavior is a result of dysfunctional learning —she has observed and directly experienced inadequate or sick models (his father and his peers) and maintained this kind of learning through reinforcement. Her exposure to and direct experience of inadequate models may have resulted in dysfunctional expectancies and self-perceptions. Her running away from Forrest who loves her and whom she professes to love may be indicative of a relationship phobia. It may be possible that she is reminded of her painful past which she might be trying to run away from whenever she is with Forrest. Or maybe she has developed fear of pain — fear of being ridiculed when with Forrest perhaps, or fear of the ghost of her painful past. According to the social cognitive theory, dysfunctional expectations and self conceptions have a great role in the learning of overt behavior, such that people learn, erroneously, to expect painful things to follow some events or to associate pain with an event (Pervin, 1986). In Jenny’s case, her developing a relationship phobia (with Forrest) may be caused by associating pain with being with Forrest, or expecting pain to happen by being with Forrest for a long period of time. Her incessant impulse to stay away from Forrest after brief encounters with him may be a defensive behavior to escape the pain she expects to experience or painful events she expects to happen when she is with Forrest. Change Toward the end of the movie, we see a new Jenny. She no longer exhibits maladaptive behavior, no longer runs away from Forrest, and is now able to confess her feelings. In the view of social cognitive theory, change in behavior happens when there is alteration in the level of and strength in self-efficacy. As the level of self-efficacy increases, a person’s behavior tends to change toward positive behavior (Pervin, 1989). At some point in her life (while Forrest was running across America), Jenny must have had acquired new thought patterns and behavior, and improved self-efficacy. This change in Jenny might have been brought about in part by maturation and her becoming a mother, but mostly by having new influences to model from. During that time in her life when change started to develop, she could have met new friends who modeled to her good behavior, in an environment that accepts that kind of behavior. She might have had systematic desensitization of her phobia; thus, in the end she is not only able to go back to the man she loves and with whom she has a child, but also ask him to marry her. Internal and External Factors Jenny’s personality is both a product of internal and external factors. Among the external factors that greatly influenced her personality include her father and the abuses he inflicted upon her; her aunt who took care of her when she was taken from her father; her peers in school and the people she came in contact with throughout her life; Forrest himself and the friendship they shared together since they were young children; and the events in the society they were born into. Compared with Forrest, Jenny is more involved with the events that shaped their country. The internal factors, on the other hand, include her thoughts about, feelings toward and perceptions of the people that she came in contact with and of the events that took place around her. Together, the external and internal factors have defined the person that is Jenny. Conclusion   Ã‚   Overall, when seen from the perspective of the social learning theory, Jenny comes out as a person who was not only screwed up by the environment but also by her inability to process her circumstances in a manner that could have enabled her to prevail over the sad events in her life.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Jenny’s greatest achievement is that she eventually prevailed over her maladaptive behavior toward the end of the movie. This change, from the point of view of social cognitive theory, is not impossible. All she needed is someone to model from — someone who has had similar circumstances like hers, but is behaving differently. She must have had at least one such model.    References Albert Bandura biographical sketch. (n.d.) Retrieved January 26, 2008 from Emory University, Division of Educational Studies Website: http://www.des.emory.edu/mfp/bandurabio.html Bandura, Albert. (1986). Social foundations of thought and action: A social cognitive theory. Englewood Cliffs, N.J.: New Prentice Hall. Boeree, George C. (2006). Albert Bandura. Retrieved January 28, 2008 from http://webspace.ship.edu/cgboer/bandura.html    Pajares, Frank. (2002). Overview of social cognitive theory and of self-efficacy. Retrieved January 25, 2008 from http://www.emory.edu/EDUCATION/mfp/eff.html Pervin, Lawrence A. (1989). Personality theory and research. US: John Wiley & Sons, Inc. Social cognitive approach to personality: Albert Bandura. (2001, February 26). Retrieved, January 26, 2008 from http://condor.admin.ccny.cuny.edu/~hhartman/SOCIAL%20COGNITIVE%20APPROACH%20TO%20PERSONALITY%20ALBERT%20BANDURA%20 (1925).htm Social cognitive theory. (n.d.) Retrieved January 26, 2008 from http://www.infosihat.gov.my/Artikel%20HP/Social%20Cognitive%20Theory.doc Social cognitive theory. (2004). Retrieved January 26, 2008 from the University of Twente Website: http://www.tcw.utwente.nl/theorieenoverzicht/Theory%20clusters/Health%20Communication/Social_cognitive_theory.doc/ Social Cognitive Theory. (n.d.) Retrieved January 26, 2008 from University of Wisconsin-Milwauke Website: http://www.uwm.edu/~vince/psy407/wwwcourse.407.lec20.soccog.handout.htm    The psychodynamic theory. (n.d.) Retried January 26, 2008 from Ryerson University Website: http://www.ryerson.ca/~glassman/psychdyn.html Tishe, S. & Finerman W. (Producer) & Zemeckis, R. (Director). (1994). Forrest Gump [Motion picture]. United States: Paramount Pictures.