Credit risk management in banking sector Essay Example | Topics and Well Written Essays - 2500 words

Credit risk management in banking sector - Essay Example Credit risk management appears to have improved during the past decades due to greater reliance on market determined prices. Credit risk today is managed through the creation of an in-house risk management unit. In addition, efficient credit risk valuation methods are being employed today by banks. Banks have also resorted into more advanced methods of credit risk management and quantification such as value at risk, stress testing, credit scoring. According to BIS paper No.33, financial markets are subject to various sources of risk: credit, market, liquidity, operational and legal risks. These risks tend to be more pronounced in the developing world than in developed countries due to a lower level of economic, financial and institutional development. Credit risk tends to be more acute as a result of a lack of highly rated counterparties. Market and liquidity risks are higher due to thinly traded markets (IMF BIS Paper No. 33). Operational risks may also be exacerbated because of inadequate human resources or the failure of manual, mechanical or electronic systems to process payments. Finally, legal risk may also be part of the environment (for instance, due to the inability to foreclose on collateral). The next section discusses credit risk and some of its components and how it can be managed. 1.2 Credit Risk According to the International Monetary Fund Business Paper No. 33, credit risk is the risk that a debt issuer will default is known as credit risk; this is typically the most important form of risk for commercial banks (Shapiro, 2003; Buckley, 1996; Muller and Verschoor, 2005; Solt and Wayne, 2001).Solt & Wayne (2001) argues that, in assessing credit risk, an institution needs to consider three issues: default probabilities over the horizon of the obligation, credit exposure (ie how large the obligation is when the default occurs) and the recovery rate (ie what part of the exposure may be recovered through bankruptcy proceedings or some other form of settlement) (Solt and Wayne, 2001). Credit risk is often difficult to assess due to the lack of information on the credit history and financial position of borrowers, inadequate accounting practices and standards that make it difficult to evaluate credit exposures, macroeconomic volatility and deficiencies in the institutional environment (e.g., political instability) (BIS Paper No.33, 2005). Weak enforcement of creditor rights may also contribute to uncertainty regarding recovery rates. Although many of these factors have been improving in recent years, progress in some cases is slow (Mohanty et al., 2006). Moreno (2006) highlights two key issues related to credit risk that are relevant for emerging market economies (EMEs). First, the distinct increase in the share of credit to the household sector that has been observed in a number of countries could lower credit risk if the concentration of bank assets fell, if consumer credit diversifies risk among a larger number of borrowers. Moreno (2006), further states that, credit risk could rise if banks are lending in new market segments. Second, there is significant credit risk associated with the effects of asset price fluctuations on banking books. One concern in this case is the volatility

The wisdom of crowds, the way were working Essay

The wisdom of crowds, the way were working - Essay Example The wisdom of crowds, the way we’re working One of the key aspects that make Coca-Cola a market leader is that it allows the diversity of opinion. James argues that groups are remarkably intelligent based on the fact that each member of the group is given an opportunity to contribute. In its effort to ensure wide range of decisions, Coca-Cola initiated a strong feedback system where shareowners and the consumers can provide their own views regarding the management of the company the board. Additionally, the company has well established operating groups that ensure opinions and information from different people reach the company headquarters. Independence of the groups is another important aspect that ensures wise crowds. This means that there is no single individual who makes decision on behalf of the entire group. For example, Coca-Cola board of governors under the leadership of Muhtar Kent, ensures consultation with other heads of department especially during the launching of new products or when adopting a new technology. In this way, each of members of the team feels as part and parcel of the entire company. Decentralization is an additional aspect that results to wise crowds. For instance, to achieve the company objectives, Coca-Cola has allocated qualified marketers and engineers to oversee its bottling plants located in various countries. Through the collaboration of the various heads of departments, wise decisions are made and adequate information is obtained thus enhancing the profitability of the company.

A Brief analysis of HRM within Wal Mart

A Brief analysis of HRM within Wal Mart Human resource management  is process of management  of people working in any company or organization. There is another term used instead of human resource management is personnel management All the human resource management models emphasizes on following important things: searching new ways of working role of manager in change making managing the activities of employees Human working capital is very important for success of the businesses especially in service sectors. Human resources are one of major costs part for any business, they always play very important role in development which path company is adopting for success in business. Correct and efficient management of resources and their utilization is necessary for success of all businesses. Practitioners of human resource management have developed a modern view related to work management rather than previously set of traditional philosophy. In current competitive business world that is always dynamic organizations have to keep them advance with the pace of development in this changing environment. The division of work inside organization aimed at completing tasks on time. Among all of the important organizational departments is the department of human resource management. According to some experts organizational success basically depends on the success of human resource department. This department has lot of value inside the organization. Human resource management  is well set, properly designed  and rational  approach to any of the  management  work that contributes to the achievement of set business objectives. In all organizations human resource people have various functions. In companies department of human resource play a crucial role as they are responsible for dealing with diversity of staff. Starting from the recruitment identification process to the identification of the benefits that each employee can bring to the organization, with a proper planning for this achievement. There is always a way that ensures functions of human resources will be different for different organizations according to the needs of that organization. The people in human resource always have the focus and responsibility to improve the performance of the employee. Mainly the staffing is a vital step related to this process, but results and outcome lies in performance management. This is directly result of internal control of the Human Resources to make more of the workforce. Human Resources Department mostly tries its good efforts to give benefits to employees cause it wants them to perform well with higher satisfaction, according to their job description. Improvement in the s taff performance comes through a systematic approach adopted by human resource people. Current assignment will study the concept of human resource management, main responsibilities of the department, problems and issues faced by this department, workers incentive and appraisal, diverse approaches related to human resource management, and idea and administration of any change in origination. We also will try to find that how walmart making progress in current competitive business environment while managing all its Human Resources effectively to bring desired success. What are some critical features of walmart policy and strategy for its human resource management. 2 History of Walmart Date of Wal-Mart Most people know that most popular discount retailers started in 1962, K-Mart, flat and Wal-Mart opened its first store. (Company, 2010) actually started by Sam Walton of this work during the intense competition of the 1950s many of the regional discount stores. Before making the opening of its company Sam went to most of the parts of country to learn things about the discount retail business. He successfully convinced American consumers that he got the idea for a new and compared to the old. With confidence and vision, Sam with his wife Helen started the development of a major stake in the first store in Rogers, Kmart has expanded rapidly in the 1960s, while Sam was to get sufficient money for the development of 15 stores of Wal-Mart. In 1972, business shares were offered to public in the New York. With this combination of money, the company made growth in business established its stores in 11 countries with number of 276 stores by the end of its first decade. In 1983, opened its fi rst store Sam Club Members Gallery. The early Supercenter was opened by 1988, featuring grocery store and other 36 departments for general merchandise. By 1989, there were 1402 Wal-Mart Stores 0.123 Sam Club sites. Increased ten-fold work. Its sales grown to $ 26 billion from one billion dollar. (Milner, 2005) Today it have stores and sites numbered 8747 in more than 15 countries of the world that have 2.1 million Associates and provides service to at least 176 million customers in a year time. 3 Concept of Human Resources Management Human resource management Can be defined as the sum of all these activities that are associated with management of staff and their relationship within the company. Or And continue operations in the management of people and organizations in any way to achieve their goals and objectives. While an agent (2007) is defined as all the decisions and strategies and the factors managers processes and practices, functions, activities and methods for the management of the peoples who work as employees in any organization. So, human resources management is essentially a study as well as management in any organization that stands on the ideas and techniques to improve the status of employee motivation, efficiency and performance. Based on the idea of managing people to believe that the staff is very important for the specific business and its continued success. The organization can gain a competitive advantage only by using its staff effectively, drawing plans on the basis of their expertise and skills in order to achieve well-defined objectives. In organizations, and human resources departments play a crucial role as they are responsible for dealing with diverse staff. Of the recruitment process and to identify the benefits that each employee is done through the Department of Human Resources. Could be that the functions of human resources are always different to cover the requirements of organizations, similarly they always focus and take responsibility to improve the performance of the employee. Mainly the process of staffing is very important step for this, but mostly the result lies in performance management. This is linked to internal control by the Department of Human Resources and more of the workforce . 4 Workforce Planning and the difficulties Work force planning and preparation of all your options before going into the real work set for the staff to get the organizational goals is very important issue. It is well understood principle that the people are organizations important asset. Because without the capable staff it is difficult for all organizations to reach towards their goals. The bulk of organizational improvement will come only after ensuring that the right staff with the right skills, knowledge and behaviors in the organization. Workforce planning related to achieving this outcome, and any serious link between business planning and development, recruitment and retention, and staff training. Wal-Mart is much concern about this issue, human resources and recruitment system and effective to deal with their needs for this purpose and put the plan always. They announced the vacancy correctly, a pre-assessment before engaging in the selection process. They provide benefits to its employees and facilities in spite of, is blamed for some time to Wal-Mart facilities discrimination and ill-especially low-paid. This layout is about the workforce and provides the opportunity to work on long-term thinking about the relevant services in the future, and needs, and explore all viable strategies. Thus, the central planning for company work becomes important for the organizations. 4.1 Employment Requirements Critical stage in the recruitment of human resources management. It should be well planned and structured so that the organization can recruit the right person for the right place instead of just making the availability of another person at work. There are many of the problems faced during this process and managers for some time and the inability to focus, time and financial resources necessary to make this process effective. Wal-Mart that they always take qualified personnel and according to it, and it makes employees with proper education and skils efficiency. 4.2 Development and Training Appointment comes after the development and training stage. Most the organizations unfortunately sometimes even for technical jobs do not provide adequate training for their employees before hiring and employment. There must be made sound system which can ensure that the Organization the necessary arrangements to work before and on the job training and development for their employees. The-job training is the main part in the field of human resources at Wal-Mart is now not only offers these courses for their employees, but in times of recession, they offer training courses for some people who are by this time of recession. (Wal-Mart, 2010) 5 Administration of human resources and staff performance Human resources management are primarily responsible for the employees performance in business administration (Jones, 2007). To achieve its purposes, which is responsible for dealing with staff from induction to work on and improve their commitment and reduce absenteeism and turnover, and improving skills levels and productivity, and improve the quality and efficiency of its work. 6 Century 20 key ways to manage human resources There are some key criteria developed that are in use from the days of the 20 century and developed later by some HR professionals to achieve the highest standards of performance and strongly recommend the organization to follow the rules of these standards for the performance of high-quality employees. These are the best practices, fit this view of resources. 6.1 Best practices Also called as high commitment human resource management to ensure that the realization of the best practices in human resources makes improvement to organizational performance. There are many best practices to keep the advantage using the employees for profits by giving due importance to staff at Wal-Mart. These practices are: 1) job security, (2) recruitment of flour, 3) training and large-scale, 4) the exchange of information, 5) capable teams, 6) also paid a much higher according to the profit and reduce the inequalities in the position of the staff. 6.2 best fit, or approach of emergency Says that the management of human resources that can perform well when there was a suit involving the required vertical on the performance of human resources management and corporate strategy. There must be a unity between the process closely and human resources and policy with the policy of the foreign company. There are various theories related to vertical integration. For example is life cycle models, that argue in favor of the human resources which according to experts can be easily known in development stage of any organization by its policies and practices that it adopts at development or life cycle process. Some other models of competitive advantage that the idea of Porter on strategic choice. Maps a variety of human resources practices in the organization options for the development of competitive strategy. The third is configurationally models that provide a more accurate assessment depends safe from an organizational strategy to determine the appropriate human resources pol icies and practices. Wal-Mart is famous for this approach because it is conscious to get the best people to do their job, because they are not many offers, such as previous experiences of the application, it is also strict rules in the second performance evaluations. Showing 6.3 resources and building According to some is the basis for modern human resources management, and it focuses mostly on internal organizational resources, and considers how these resources contribute to competitive advantage. And the scarcity of resources is ideal for harmony and human resources management and its central role for the development of human resources organizational value, and this is rare, it is sometimes difficult to replace and organize effectively. Wal-Mart in the keyword in the field of human resources is a valid but the staff who works to meet these goals which are set by organization. 7 Academic theory It is based on the fundamental principle of human beings are not like machines, and therefore any organization needs to have multidisciplinary assessment at their workplace for all staff. Many areas of psychology, for example, sociology, industrial relations, economics, engineering, industrial and monetary theories play an important role and a key. Universities and colleges offer diverse courses in human resources management. Wal-Mart and a good learning approach to build capacity in the area of personnel. One commonly used way to explain the function of human resources management was developed by Dave Ulrich, which identifies four areas of the role of human resources management: collaborator and strategic business As a result of the change agent a hero of the staff and experts on Administrative. 8 Responsibilities of the Department of Human Resources Different companies and different departments working within the organization, and these departments including sales management to human resources management. Human Resources department staff muscles depends on size of staff in company. Job opportunities in this section includes human resources coordinator, human resources and assistant director of human resources management. Can the responsibilities of human resources management as follows: 1: Human resources management is doing all the planning, advertising, interviewing and selection of staff. 2: Department should know law at all levels from federal, state or provincial and local laws relevant to the work of staff. 3: This section helps companies on training and staff development. Companies train their staff to a variety of reasons, such as motivating staff to learn new things new. The length of hours of time for several weeks, depends on the nature of the exercises. Some time and include safety measures in the workplace. As mentioned by Derek, et al (2004) that It shall be the duty of every employer to ensure, so far as is practicable, the health, safety and welfare at work of all staff. 4: should any private company to use the drive is able to attract staff, skilled and hard work. After the payment of these benefits are shared to keep on encouraging workers for a long time on the functions of the organization. These include the benefits for time of unemployment. Companies offer a variety of benefits, including dental insurance, and vision insurance and payments for a few days off. 8.1 Tasks performed And human resources in any company that requires kind of management, that involves several steps for this process. They look to achieve all these goals mentioned above. Cannot be performed by each of these activities in human resources management, but some tasks can be outsourced or cannot be performed by these executives, even by other departments. People at Wal-Mart human resources, efficient in their jobs, they provide significant benefits to employees who claim Associates. The following are the main tasks carried out by human resources departments at Wal-Mart: Employment-planned Employment Employee induction and orientation to make them on-board Employee skills of management Employee proper training Employee daily base management Compensation Time Management Travel arrangements Payroll (some companies give this task to the accounts) Employee benefits management Planning staff costs Annual Assessment Labour Relations 9 Human resources strategy when some human resources management and strategy for implementing the tasks set by the department of handling human resources management. Have human resources functions of the Organization include the recruitment and selection policies, and procedures related to disciplinary procedures, policies, rewards and prizes, and human resources plan and policies specific learning and development. But it should be aliened all these regulatory issues in the overall strategy for the business sector. Human resources management strategy and the comprehensive plan, with regard to human resources policy in the implementation process. Human resources management strategy usually consists of the following factors: Wal-Mart always gives priority to the strategies that best fit and best practices, which means there is a link between human resources management strategy and corporate strategy. Encountered some blam critic Wal-Mart to use this strategy against the employee benefits and fair pay, so many times waltmart cases of discrimination against them. But the people Wal-Marts efficient in the field of continuous monitoring of the human resources strategy, through the study of the employee, feedback and surveys necessary for the organization. 10 Career Education There are a number of Universities and Colleges to study in the areas of human resources management and related benefits. It was the first Cornell University in the world who started their studies in human resources management and educational administration full. Wal-Mart and good training and education system for workers in the teaching profession and communicate with various projects and sectors that handle these projects in their human resources. There are many new careers at wallmart , which engaged things related to recruitment, employment, recruitment and the interviews done in general, equal opportunities in employment or professional employment organization. Training is conducted regularly with the development of specialization by the trainers. 11 case studies: critical analysis of the human resources approach Walmart Wal-Mart, which is famous for retail in the U.S. A and the top retailers in the U.S. market. Wal-Mart is the rapid growth in the awareness that you make. According to the site Wal-Mart (Company, 2010) Wal-Mart serves customers and members in more than 200 million times a week in more than 8747 retail units under the flags of different countries, 5515. With fiscal 2010 sales of 405 billion dollars, 2.1 million Wal-Mart is working partners all over the world. Leader in sustainability, charitable companies and jobs, in first place among retailers, Wal-Mart impressive in Fortune magazine as most companies in the survey for the year 2010. Wal-Mart has the status of these substances can also see that Wal-Mart to buy large quantities of items from its suppliers to create economies of scale, and inventory control with an effective system to assist in making operating costs less than those of its competitors. It is also many goods imported from China, factory of the world for its low cost. In the word of the strategy at the level of the company from Wal-Mart, the low cost strategy with a little insulation. Wal-Mart managers and engage in three levels of strategic planning (Gary Dessler, 2005) in the business, and corporate-level strategic function. As for Wal-Mart, corporate and business level strategy to drive low-cost. From the perspective of performance management, to Wal-Mart has very high standards and strict job titles. In career management, Wal-Mart and also goes great efforts to reduce costs, and there are many cases that women Su, Wal-Mart to its policy of discrimination against women by systematically denying them promotions and paying them less than men. There are women who have been paid to the departments to lower FEMALE complain about unequal treatment of male colleagues. From the perspective of compensation management, has also showed Wal-Mart human resources policies and activities of the very aggressive to fit the low cost strategy. Wal-Mart imported $ 15 billion worth of goods from China, but also Wal-Mart has some of the factories in China, which branded products with the name of Wal-Mart. We can see just how Wal-Marts strategy of companies only extensively with integrated human resources policy. Wal-Mart workers in California to earn 31 percent less on average than workers in large retail as a whole. In fact, with other operating costs that put it on the highest level of inventory management, and managers must turn to the storage fees to increase profits, Wal-Mart is expected to reduce labor costs by two-tenths of a year. So, these aggressive policies of human resources, not just more, the fittest. From the viewpoint of the employee and the interest of safety, as well as human resource policies at Wal-Mart, which aligned well with the strategy at the corporate level. Often accused of Wal-Mart failed to provide employees access to affordable health care, but the senior managers and HR managers know their focus was just trying to implement most of the low cost strategy. Wal-Mart strongly against the policy of the Union. It was reported in the United Kingdoms Guardian newspaper that Wal-Mart faces the prospect of a messy legal battle with the messy GMB bruises in a row about the rights of collective bargaining, to the Union does not accept the Wal-Mart has withdrawn its bid to pay 10% to more than 700 workers. (Milner, 2005) and here there may be some doubt as to why Wal-Mart has recently allowed trade unions in their stores in China, where trade unions are required. I tried Wal-Mart in China every possible effort to develop good relations with the Government of China and other groups of influence. So make this the exception of China and Wal-Mart unionizations except in accordance with the overall strategy and human resources strategy. If the company has ignored the rule of the Chinese government, the cost is more than just what would be saved by not allowing the Organization of Trade Unions. We may evaluate the various human resources practices and systems, Wal-Mart best fit the organizations strategy for competitive companies. Then here is the role of HR managers in this company who are professionals with strategic skills of human resources and other resources needed to build a human-oriented strategy. Human resource managers in one of the technical departments of Wal-Mart, and tried their best to fit the companys strategy to reduce the cost low. They made some rules and policies, for example, the implementation of the policy against the Union in its stores to reduce costs from outside the EU, but to assist in the implementation of the lock in policies; tried to resist the deficit in the loss of efficiency. Should encourage women to discrimination by giving them a far less chance of money, and workers in fact mentioned in the Wal-Mart has also received a salary much lower compared with the average level of the industry. Try Wal-Mart human resources managers and also to control the conduct of staff and competencies that require the companys strategy through the actions and policies of the companys strategy in support of human resources, some of which may be adduced. Wal-Mart human resources managers refers to its employees as partners and encourages managers to think of themselves as servant leaders, and this is to encourage them to serve others while staying focused on achieving results in line with the organizations values and integrity. Wal-Mart also faces lawsuits alleging that the companys discrimination against disabled workers, to employ these men intended to provide more facilities for them and lost efficiency to some extent. They also faced charges of child labor. Also charges of discrimination of women. All of these types of human resources policies are not enough compared to international best practices approved by the Department of Human Resources in all good companies. Regardless of Wal-Mart to adopt low-cost strategy or differentiation strategy, and these policies and practices to achieve specific objectives to save any additional cost, but to motivate employees to increase their contribution in helping companies and even in shapin g culture. 12 Conclusion and proposals With the update that brought the introduction of computers and mobile phones, information and technological advances robots to support human life and the work it is easy to be good performance in any business.

Writing Personal Statements :: College Admissions Essays

Writing Personal Statements      As colleges and universities diminish their reliance on LSAT and GPA numbers in the selection of students to admit, narrative submissions become more significant.   The personal statement is the primary way you can make sure the people on the admissions committee are familiar with who you are -- not merely what you have accomplished.   Remember that it is an essay you are preparing that should be interesting and revealing about you.      Ã‚  Ã‚   Below are some suggestions you may find useful as you prepare your personal statement.   Describing one's self   is never an easy endeavor.   Do not become frustrated if your first draft (and you should have more than a couple) is less than satisfactory.   Be sure and proofread your statement multiple times and have someone else proofread it as well.   It is also a very good idea to read it aloud.   After the second or third draft, set it aside for a few days and then return to it after the initial efforts.      Ã‚  Ã‚   Certainly you want a polished product:   correct grammar, punctuation, diction, and spelling are vital.  Ã‚   In addition you should present the statement in a double spaced format with sufficient margins.   The length should be no more than is specified by the school's instructions.   If there are no instructions you should write no more than two or three pages (at most).   Specificity, accuracy and truthfulness are essential.  Ã‚   Write no more than two pages.   Put your name on each page.      Ã‚  Ã‚   Beyond these general observations you should avoid:   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚   clichà ©s   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   overuse of thesaurus   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   use of third person to refer to yourself   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   a title to your statement   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   conclusions regarding your abilities or potential   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   self aggrandizement   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚     Ã‚  Ã‚  whining (i.e., why you got a C in literature 201)   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   making the statement a resume   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   procrastination in its preparation   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   gimmicks such as poetry, quotations, etc.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   vague or obscure references   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   pretentious phrases   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   ostentatious vocabulary   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   appearing cynical

Plato’s Perspectives on Society, Organization and Leadership Essay

Main views about society Plato wrote in his book called the Republic. The Republic was written around 380 (BC). In this book Plato tries to define justice, right order and character of the just city and the just man. In the Republic different philosophers like Socrates try to argue, what is the meaning of justice. They also discuss if a just man is happier than an unjust man, if they are ruled by just philosopher kings. (Brickhouse, Thomas & Smith, Nicholas, 2010) Plato view, that a just city has to be ruled by these philosopher kings. Plato believed in an aristocratic system of ruling, not the democratic way of ruling. The kings have to be educated by philosophers, so that they would be like philosophers. Or philosophers should be elected as rulers. Anyhow he did not like some much about democracy and little educated leaders. (Brickhouse, Thomas & Smith, Nicholas, 2010) Plato thinks that there are many dangers in the democracy. People do not always choose the wisest persons at the elections. Sometimes they choose those, who can speak nicely. The knowledge is not the main criteria for choosing people at the democracy, but Plato thinks that those who know should be elected as rulers. (Saarinen 1985, p.43) Plato was pessimistic about people. According to him common people were bad and acted normally irrationally. People lived according to their selfish desires and bad beliefs. People did not follow the laws by their hearts, but because they were afraid of punishment. (Plato 360 BC, p.45) According to Plato people could not live alone. They needed each other. Plato said, that it is good for people to live in communities, by this way people can exchange products. (Plato 360 BC, p.75) Plato believes that the society has to be well ordered, this will lead into good moral in the society. Fine social order and education will educate good people. These good people, who are well educated, will be better than their parents (People living before them.). (Plato 360 BC, p.117, 353, 380) Plato thinks that a human soul and society have similarities. They both have same particles. Parts of the soul are like social classes in the society. If these parts / social classes are in harmony, there will be justice. There are three different classes in the society: Productive, protective and governing class. Productive class is workers: farmers, blacksmiths, carpenters, ranchers, etc. Part of the soul for these people is appetite. Second class is protective class. These people are warriors and guardians. They are strong and courageous. Part of the soul for these people is the spirit. Third class is the governing. These people are rulers or philosopher kings. They are rational, wise, self-controlled. These people can make good decisions for the society. These people are like the reason part of the soul. These people are very few. (Saarinen 1985, p.42-43) Plato already saw corruption in the society. He said that it is needed rule of law to prevent corruption. The government and guardians have to really guard the society that the order and rule of law can exist. (Plato 360 BC, p.141) Love of wisdom should be one of main values of the society. (Plato 360 BC, p.397) There should be order, not anarchy, in the society. If there is order children can orderly live with their parents and they can learn from their parents. In the same way masters can learn from their scholars. There should be some fear between son and a father and pupil and a teacher. This fear keeps the order. (Plato 360 BC, p.328-329) Plato’s Perspectives on Organization Plato thought that there are three classes in the society, which should have a good co-operation and they should live in a harmony. According to Plato’s views organization has three different groups (classes). Somebody might also think that these groups (classes) have strict borderlines. This means that it is difficult to step from one group to another group. It is difficult to go over lines to another class at the organization. Plato sees an organization as an entity, which should be in harmony with its parts. Many modern organizational theoreticians have followed Plato, when they stress the unitary and well balanced nature of modern complex organizations. (Takala 1998, p.797) Plato thinks about the greatest evil and the greatest good at an organization. In His views evil is discord and distraction. On the other hand good is unity. There has to be unity in the organization, all the members should have common experiences (pleasures etc.). (Plato 360 BC, p.198) Justice is important thing for every organization. In the organization order brings justice and the organization has to keep the justice. (Plato 360 BC, p.6) If there is injustice in the organization, it will lead into quarrels and fights, people will become each other’s enemies. Injustice will disturb the organization’s basis for human co-operation. (Plato 360 BC, p.53-54) Obedience is an important factor at the organization. Workers should obey their masters. Everybody should live under clear hierarchy and follow the orders given by those, who are over them. (Plato 360 BC, p.36, 192, 297) Plato’s Perspectives on Leadership Plato thinks, that ruler has to be philosopher. This means, that only philosophers can be good rulers. In this way main character of a leader is his/her philosophical capacity. Leader (ruler) has to know the real being and leader (ruler) has to distinguish belief from the real knowledge. This is the highest virtue for a leader: To separate beliefs and real facts. (Saarinen 1985, p. 44) Plato thinks, that leader should love the truth. He teaches that a leader is like a captain and his ship or a doctor and his medicine. These professions (doctor, captain) cannot be practised by everyone by nature. So to be a leader is not by nature, leaders should be educated. Plato thinks that one of the main tasks for the education system is to produce these philosopher kings. (Plato 360 BC, p.233) Plato thinks that a leader has to be a just person. The stronger (leader) cannot abuse his power over the weaker. The leader has to be just and there has to be justice in the society. Leader guides this social order, so that society can live in harmony. Leader guides citizens (class of citizens) to carry out tasks for which they are suited and not interfering with the work of others. (Takala 1998, p.791) Plato sees leadership as an important part of a functioning society. He thinks that leadership is an educational catalyst in the society. Plato thinks that leader has got two important tasks: to control the implementation of education and to control the propagation of thoughts. Plato sees this controlling as an essential function in the society, that’s why the controllers must be philosophers. (Takala 1998, p.790-791) According to Plato education is needed to produce good philosopher leaders. Education leaves its mark on leaders. On the other hand education makes division between leaders and other people. Platonic education gives wisdom and mystical skills (real knowledge) to the leaders. (Takala 1998, p.792) Plato sees leadership as a duty of a philosopher. The essential thing is the true knowledge, if somebody has got the knowledge he can be the leader. The philosopher has got knowledge and he can rule. And the man, who is not philosophical, has got only a true beliefs or opinions. This corresponds that he cannot be the leader. (Takala 1998, p.792) In Plato’s thinking there is the concept of the leadership of meaning. The leader has to create meaning, he has to sustain it and sometimes it has to be changed. In this way leadership can be seen as a social process. This social process includes all those means by which leadership creates new meanings by rituals, symbolizing and â€Å"naming†. The attributes of a powerful leader is also in the Plato’s thinking. One attribute in Plato’s thinking is the charisma, which is said to be widely discussed in modern leadership theories. A leader must have charisma in order to be successful in his actions. Without it the leader is not able to do his job, to lead some complex organization. (Takala 1998, p.797) References http://www.springerlink.com/content/u348q477q0583068/fulltext.pdf

The Tell Tale Heart and A Confession Found In A Prison In...

Compare and Contrast The Tell Tale Heart by Edgar Allan Poe and A Confession Found In A Prison In The Time Of Charles II by Charles Dickens ==================================================================== We have looked at two different short stories by two different authors. The first story is called ‘The Tell-Tale Heart’ by Edgar Allan Poe and the second is called ‘A Confession found in a prison in the time of Charles II’ by Charles Dickens. I have found out that that they both have a murder theme in common. There are also other similar themes between the two poems such as early confessions. The plot in ‘The Tell-Tale Heart’ is about a mad man that has the motive to kill an old man because of the look of his eye. We†¦show more content†¦The boy could also be a problem in the future. We know quite quickly that all is not well for both narrators because they both hint of the outcome, and confess early. In ‘A confession found in a prison in the time of Charles II’ the narrator says ‘I will set down the naked truth without disguise’ showing that he will reveal the whole story. He also says ‘My name is written in the black-book of death,’ which shows that he is line for execution for something that he has done wrong. The same sort of theme applies for ‘The Tell-Tale Heart’ when the narrator quotes ‘How calmly I can tell you the whole story.’ This shows that something is going to be confessed in the near future. Both authors use short sentences at the beginnings of their stories. They use this writing technique to build tension. This is shown better in the ‘The Tell-Tale Heart,’ line 15 where he starts of the paragraph with three sentences in the first line. ‘Now this is the point. You fancy me mad. Madmen know nothing.’ In ‘The Tell-Tale Heart,’ the only relationship is between the old man and the narrator. 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Case Study Analysis Company s Financial Wealth And...

Toghrul Khalafov A4080865 togrul.khalafov@gmail.com Risk Management Report Bluehill Bank Written Coursework Assignment Ratio analysis is the best way of analysing the company’s financial wealth and position. It helps to understand the crucial financial figures of an entity pointing to weak and possibly risky parts of its finance. Using the results of the analysis managers can strengthen the financial position by determining and eliminating possible risks related to credits, operations and market fluctuations. One of the important cases that a company cares about is profitability. Undoubtedly it plays a great role in the overall performance of an entity and define the actions must be made to improve it. Being on of the indicators of profitability net margin indicates how well companies can convert their revenue into profit. 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