Negotiations for Managers Essay

(1 – 50 are worth 1.2 points a piece) 1. Which is not a characteristic of a negotiation or bargaining situation? A)conflict between parties B)two or more parties involved C)an established set of rules D)a voluntary process E)None of the above is a characteristic of a negotiation. 2. Which of the following is not an intangible factor in a negotiation? A)the need to look good B)final agreed price on a contract C)the desire to book more business D)fear of setting a precedent E)All of the above are intangible factors. 3. Interdependent parties’ relationships are characterized by A)interlocking goals. B)solitary decision making. C)established procedures. D)rigid structures. E)Interdependent relationships are characterized by all of the above. 4. Satisfaction with a negotiation is determined by A)the process through which an agreement is reached and the dollar value of concessions made by each party. B)the actual outcome obtained by the negotiation as compared to the initial bargaining positions of the negotiators. C)the process through which an agreement is reached and by the actual outcome obtained by the negotiation. D)the total dollar value of concessions made by each party. E)Satisfaction with a negotiation is determined by none of the above. 5. Which of the following statements about conflict is true? A)Conflict is the result of tangible factors. B)Conflict can occur when two parties are working toward the same goal and generally want the same outcome. C)Conflict only occurs when both parties want a very different settlement. D)Conflict has a minimal effect on interdependent relationships. E)All of the above statements about conflict are true. 6. Which of the following contribute to conflict’s destructive image? A)increased communication B)misperception and bias C)clarifying issues D)minimized differences; magnified similarities E)All of the above contribute to conflict’s destructive image. 7. In the Dual Concerns Model, the level of concern for the individual’s own outcomes and the level of concern for the other’s outcomes are referred to as the A)cooperativeness dimension and the competitiveness dimension. B)the assertiveness dimension and the competitiveness dimension. C)the competitiveness dimension and the aggressiveness dimension. D)the cooperativeness dimension and the assertiveness dimension. E)None of the above. 8. Negotiators pursuing the yielding strategy A)show little interest or concern in whether they attain their own outcomes, but are quite interested in whether the other party attains his or her outcomes. B)pursue their own outcome strongly and shows little concern for whether the other party obtains his or her desired outcome. C)shows little interest or concern in whether they attain their own outcomes, and does not show much concern about whether the other party obtains his or her outcomes. D)show high concern for attaining their own outcomes and high concern for whether the other attains his or her outcomes. E)Negotiators pursuing the yielding strategy demonstrate none of the above behaviors. 9. A situation in which solutions exist so that both parties are trying to find a mutually acceptable solution to a complex conflict is known as which of the following? A)mutual gains B)win-lose C)zero-sum D)win-win E)None of the above. 10. T or F The parties prefer to negotiate and search for agreement rather than to fight openly, have one side dominate and the other capitulate, permanently break off contact, or take their dispute to a higher authority to resolve it 11. T or F When the goals of two or more people are interconnected so that only one can achieve the goal—such as running a race in which there will be only one winner—this is a competitive situation, also known as a non-zero-sum or distributive situation 12. T or f Negotiators do not have to be versatile in their comfort and use of both major strategic approaches to be successful. 13. Distributive bargaining strategies A)are the most efficient negotiating strategies to use. B)are used in all interdependent relationships. C)are useful in maintaining long term relationships. D)can cause negotiators to ignore what the parties have in common. E)None of the above describes distributive bargaining strategies. 14. The objective of both parties in distributive bargaining is to obtain as much of which of the following as possible? A)bargaining range B)resistance point C)target point D)bargaining mix E)None of the above. 15. The resistance point is established by the ____________ expected from a particular outcome, which is in turn the product of the ____________ and ____________ of an outcome. A)cost, value, worth B)value, worth, cost C)value, cost and timeliness D)cost, importance, value E)None of the above. 16. The more you can convince the other that you value a particular outcome outside the other’s bargaining range, the more pressure you put on the other party to set by one of the following resistance points. A)high B)low C)modest D)extreme E)None of the above. 17. T or F The resistance point is the point at which a negotiator would like to conclude negotiations. 18. T or F Each party’s resistance point is openly stated at the conclusion of negotiations. 19. T or F The more you can do to convince the other party that his or her costs of delay or aborting negotiations will be costly, the more likely he or she will be to establish a modest resistance point. 20. T or F Studies indicate that negotiators who make low or modest opening offers get higher settlements than do those who make extreme opening offers. 21. The bargaining range is defined by A)the opening stance and the initial concession. B)the initial round of concessions. C)the bargaining mix and the opening stance. D)the opening offer and the counteroffer. E)The bargaining range is defined by all of the above. 22. Good distributive bargainers will A)begin negotiations with the other party with an opening offer close to their own resistance point. B)ensure that there is enough room in the bargaining range to make some concessions. C)accept an offer that is presented as a fait accompli. D)immediately identify the other party’s target point. E)All of the above are actions that good distributive bargainers will take. 23. What statement about concessions is false? A)Concessions are central to negotiations. B)Concessions is another word for adjustments in position. C)Concession making exposes the concession maker to some risk. D)Reciprocating concessions is a haphazard process. E)All of the above statements are true. 24. Negotiators who make threats A)are perceived as more powerful than negotiators who do not use threats. B)receive higher outcomes than negotiators who do not use threats. C)are perceived as more cooperative in distributive negotiations. D)should use detailed, complex statements of demands, conditions and consequences. E)All of the above describe negotiators who make threats. 25. Hardball tactics are designed to A)be used primarily against powerful negotiators. B)clarify the user’s adherence to a distributive bargaining approach. C)pressure targeted parties to do things they would not otherwise do. D)eliminate risk for the person using the tactic. E)Hardball tactics are designed to accomplish all of the above. 26. The negotiator’s basic strategy is to A)get information about the opposition and its positions. B)reach the final settlement as close to the other’s resistance point as possible. C)convince members of the other party to change their minds about their ability to achieve their own goals. D)promote his or her own objectives as desirable, necessary, and inevitable. E)All of the above. 27. T or F Integrative agreements have been shown to be facilitated when parties exchanged information about their positions on particular issues, but not necessarily about their priorities on those issues. 28. T or F An integrative negotiation problem should be defined as a solution process rather than as a specific goal to be attained. 29. T or F In generating alternative solutions to the problem, groups should also adopt procedures for defining the problem, defining the interests, and generating options, however, to prevent the group process from degenerating into a win-lose competition or a debating event. 30. T or F â€Å"Expanding the pie† as a method of generating alternative solutions is a complex process, as it requires much more detailed information about the other party than do other methods. 31. Which of the following processes is central to achieving almost all integrative agreements? A)moderating the free flow of information to ensure that each party’s position is accurately stated B)exchanging information about each party’s position on key issues C)emphasizing the commonalties between the parties D)searching for solutions that maximize the substantive outcome for both parties E)All of the above processes are central to achieving integrative agreements. 32. In which major step of the integrative negotiation process of identifying and defining the problem would you likely find that if the problem is complex and multifaceted the parties may not even be able to agree on a statement of the problem? A)define the problem in a way that is mutually acceptable to both sides. B)state the problem with an eye toward practicality and comprehensiveness. C)state the problem as a goal and identify the obstacles to attaining this goal. D)depersonalizing the problem. E)separate the problem definition from the search for solutions. 33. Which of the following statements about interests is true? A)There is only one type of interest in a dispute. B)Parties are always in agreement about the type of interests at stake. C)Interests are often based in more deeply rooted human needs or values. D)Interests do not change during the course of an integrative negotiation. E)All of the above statements about interests are true. 34. Successful logrolling requires A)that the parties establish more than one issue in conflict and then agree to trade off among these issues so one party achieves a highly preferred outcome on the first issue and the other person achieves a highly preferred outcome on the second issue. B)no additional information about the other party than his/her interests, and assumes that simply enlarging the resources will solve the problem. C)that one party is allowed to obtain his/her objectives and he/she then â€Å"pays off† the other party for accommodating his/her interests. D)a fundamental reformulation of the problem such that the parties are disclosing sufficient information to discover their interests and needs and then inventing options that will satisfy both parties’ needs. E)Successful logrolling requires all of the above. 35. When confronted with complex problems, or a large number of alternative options, which of the following steps is necessary? A)broaden the range of solution options B)evaluate solutions on the basis of quality, standards, and acceptability C)decide on criteria while evaluating options D)maintain a focus on the influence of tangibles in selecting options E)All of the above steps should be used when confronted with complex problems. 36. In nonspecific compensation A)resources are added in such a way that both sides can achieve their objectives. B)one party achieves his/her objectives and the other’s costs are minimized if he/she agrees to go along. C)the parties are able to invent new options that meet each sides’ needs. D)one person is allowed to obtain his/her objectives and â€Å"pay off† the other person for accommodating his interests. E)All of the above are related to nonspecific compensation. 37. Which guideline should be used in evaluating options and reaching a consensus? A)keep the range of solution options as wide as possible B)evaluate the solutions on the basis of speed and expediency C)keep detailed records throughout the discussion and evaluation process D)be alert to the influence of intangibles in selecting options E)None of the above should be used in the evaluation process. 38. Which of the following is not necessary for integrative negotiation to succeed? A)Each party should be as interested in the objectives and problems of the other as each is in his/her own—each must assume responsibility for the other’s needs and outcomes as well as for his/her own. B)The parties must be committed to a goal that benefits both of them rather than to pursuing only their own ends. C)The parties must be willing to adopt interpersonal styles that are more congenial than combative, more open and trusting than evasive and defensive, more flexible (but firm) than stubborn (but yielding). D)Needs have to be made explicit, similarities have to be identified, and differences have to be recognized and accepted. E)All of the above are essential for integrative negotiation to succeed. 39. Which of the following factors does not contribute to the development of trust between negotiators? A)We are more likely to trust someone we perceive as similar to us or as holding a positive attitude toward us. B)We often mistrust people who are dependent upon us because we are in a position to help or hurt them. C)We are more likely to trust people who initiate cooperative, trusting behavior. D)We are more likely to trust negotiators who make concessions. E)All of the above contribute to the development of trust between negotiators. 40. What are the most critical precursors for achieving negotiation objectives? A)Effective strategizing, planning and preparation B)goal setting and target planning C)defining frames and setting goals D)framing and strategizing E)none of the above 41. Which of the following is not a reason that negotiations fail? A)Allowing insufficient time for planning B)Failing to set clear objectives C)Understanding the strengths and weaknesses of their and the other party’s positions D)Depending on being quick and clever during negotiations 42. A strong interest in achieving only the relationship outcomes suggests one, if any, of the following strategies. Which one? A)competitive B)accommodation C)collaborative D)avoidance E)none of the above 43. Getting to know the other party and understanding similarities and differences represents what key step in the negotiation process: A)preparation B)information gathering C)relationship building D)information using E)None of the above 44. What is the dominant force for success in negotiation? A)a distributive vs. integrative strategy B)the planning that takes place prior to the dialogue C)the discussions that precede planning sessions D)the tactics selected in support of strategic goals E)all of the above 45. Does any of the following represent the point at which we realistically expect to achieve a settlement? A)specific target point B)resistance point C)alternative D)asking price E)none of the above 46. If the other party has a strong and viable alternative, he/she will A)be dependent on achieving a satisfactory agreement B)appear aggressive and hostile in negotiations C)set and push for high objectives D)have unlimited negotiating authority E)all of the above 47. Under which of the following questions of protocol would you find a bargaining relationship discussion about procedural issues that should occur before the major substantive ones have been raised? A)What agenda should we follow? B)Where should we negotiate? C)What is the time period of the negotiation? D)What might be done if negotiation fails? E)How will we keep track of what is agreed to? 48. T or F If what we want exceeds what the other party is capable of or willing to give, we must either change our goals or end the negotiation. 49. T or F If both substance and relationship outcomes are important, the negotiator should pursue a competitive strategy. 50. T or F Alternatives are very important in both distributive and integrative processes because they define whether the current outcome is better than any other possibility. (51 – 54 are worth 10 points a piece) 51. Name the four levels of conflict that are commonly identified. Explain how conflict is a potential consequence of interdependent relationships. 52. What characteristics of original offer, opening stance and opening concession would signal a position of firmness? Of flexibility? What are the advantages of adopting a flexible position? 53. What tactics can be used to communicate firm flexibility to an opponent? In addition, what guidelines should be used in evaluating options and reaching a consensus? 54. Research by Greenhalgh suggests there are seven key steps to an ideal negotiation process. Which of the Greenhalgh seven steps of negotiation do Asian negotiators spend a great deal of time on? Why is this so important?

Chapter 9 Review Questions Essay

Chapter 9 Review Questions 1. What is magnetism? 2. Torque is ________. 3. A magnetic field is _________. 4. True or False: A permanent magnet is a piece of material that has been magnetized and can hold its magnetic strength for a reasonable length of time. 5. How is an electromagnet produced? 6. Which of the following produces the best electromagnet? 7. Unlike poles of a magnet _________each other and like poles_________ each other. 8. What part does polarity play in the operation of an electric motor? 9. What part of a motor produces an inductive magnetic field within itself to facilitate the rotating motion? 10. What part does the frequency of alternating current play in the operation of an electric motor? 11. What would be the speed of a two pole motor operating on a 120 Volts 60 Hz power supply? 12. What are the five types of single phase motors used in the industry? 13. Which of the following correctly lists the motor’s starting torque from lowest to highest? 14. Which of the following is a common use of a shaded-pole motor? 15. How does a shaded-pole motor operate? 16. How can a shaded-pole motor be reversed? 17. What determines the rotation of a shaded-pole motor? 18. Draw a diagram of a three-speed, shaded-pole motor. 19. What enables a split-phase motor to develop enough torque to begin rotation? 20. What removes the starting winding from the electrical circuit of an open type split phase motor once it reaches 75% of its operating speed? 21. What are the three probable areas of trouble in a split-phase motor? 22. What is the unit of measurement for the strength of a capacitor? 23. What is the purpose of a capacitor? 24. What is the difference between a running and a running and a starting capacitor? 25. List the five capacitor replacement rules. 26. Explain the operation of a permanent split-capacitor motor. 27. How are a PSC motor and a capacitor start capacitor-run motor similar? 28. What are the advantages and disadvantages of using the following types of motors? 29. What are the similarities between an open-type split-phase motor and a capacitor-start motor? 30. Which of the following is an advantage in using a three-phase motor? 31. Draw a wiring diagram of a capacitor start-capacitor-run motor. 32. True or False: All starting apparatuses are mounted externally to the hermetic compressor shell. 33. What is the process in troubleshooting any electric motor? 34. Which of the following is the capacitance of an 88 uF and a 108 uF starting capacitor connected in series? 35. Which of the following is the capacitance of two 20 uF running capacitors connected in parallel? 36. If a capacitor produces 15A on a 240 volt supply, which of the following is its microfarad rating? 37. Which of the following capacitors could be used to replace a 35 uF, 370 running capacitor? 38. Which of the following capacitors could be used to replace a 188 uF, 250 V starting capacitor? 39. Which of the following capacitors or combination of capacitors could be used to re place a 45 uF, 370 V running capacitor? 40. Which of the following capacitors or combination of capacitors could be used to replace an 88 uF, 250 V starting capacitor? 41. Find the common, start, and run terminals of the following hermetic compressors. A. B. C. 42. Briefly explain the procedure for troubleshooting hermetic compressor motors. 43. What are the electrical failure categories for hermetic compressor motors? 44. What precautions should be taken when checking hermetic compressor motors? 45. What would be the highest allowable resistance reading for a grounded compressor motor? 46. What are the advantages of using an electronically commutated motor over a PSC motor? 47. Explain the construction of an ECM. 48. An ECM is a ______________. 49. True or False: The resistance readings of the windings of a properly operating ECM should be equal. 50. True or False: The line voltage power supply of an ECM should be disconnected or connected with the power on.

An Overview Of Criminal Justice Systems Assignment

An Overview Of Criminal Justice Systems - Assignment Example Prosecution and investigative powers accorded to law enforcers should not violate or abuse the rights of those who have been accused of crime (Friedman, 2003). In fact, those accused of committing crimes are protected by the law against any form of abuse from prosecution and investigatory powers (Hanes & Hanes, 2005). Therefore, criminal justice systems need to be clear and easy to understand so that they can ensure fairness and justice to all. Introduction Criminal justice has been described as the application and study of laws concerned with criminal behavior. Lawyers, the police and those working in the judiciary study criminal justice to understand the systems of criminal justice that are used in their jurisdictions. A criminal justice system is simply a set of social and legal institutions that enforce the criminal law in accordance with a predefined set of procedures, rules and limitations. ... As seen earlier, a criminal justice system consists of practices and government institutions responsible for promoting social control, mitigating and deterring crime and giving sanctions to all those who violate the law with rehabilitation efforts and criminal penalties (Guinchard & Buisson, 2011). Different jurisdictions may have different criminal justice systems but they should all be driven by the need to ensure justice and fairness prevails for all. The main objectives of any criminal justice system should be to control and mitigate crime and adequately deal with those that have been accused of committing crimes so as to protect their rights and those of other citizens (Walker, 1980). An Overview of the Criminal Justice System The criminal justice system is made up of three main parts. The first part includes the legislative which is responsible for the creation of laws to be applied within a certain jurisdiction. The second part is referred to as the adjudication and it is made up of the courts that are responsible for applying the law to decide whether a person who has been accused of committing a crime is innocent or guilty (Friedman, 2003). The third part of a criminal justice system is the corrections which comprises of correctional and custodial facilities, including probation, parole, jails and prisons. These distinct entities and agencies work together under the rule of law so as to maintain this rule of law within any given society (Walker, 1980). It is in these parts of the criminal justice system that the police, district attorney, defense council and the judges or magistrates are found. Each of these parties has their own distinct roles and responsibilities within any criminal justice system (Sunga, 2000). Investigative and

Analysis of Canoe Restaurant in Pasadena Assignment

Analysis of Canoe Restaurant in Pasadena - Assignment Example As a prerequisite for sale contacts, completion of the Canoe restaurant was necessitated and  paramount. The Los Angeles restaurant grading ordinance got formulated to monitor, evaluate and recommend restaurants  particularly  on their food handling methods,  preparation  and storage regulations (Hutter 15). The grading ordinances  have  enabled customers, and authorities to achieve peace of mind in terms of food quality and health (Hutter 20). After inspection of the  Caneo  restaurant, I  wish  to  give  the  inspection  report as follows: First, the restaurant assistants were reluctant to  observe  some basic food handling  procedure; Failure to clean and  sanitize  the  instruments  used for chopping foodstuff. The kitchens chopping instrument gets used on different kinds of food, for example, beef and chicken. This increases the risks of food contamination for both customers and the workers. Secondly, the  chef, his  assistant and the entire kitchen staff  had  a set  of  complete  protective wear although none of them had  hair  nets. This increases the  possibility  of foreign material such as hair strands to  drop  in the food and  thus contaminate  it. The refrigerator  content  is not labeled clearly. This makes it confusing for the chefs to  pick  the  right  ingredients for the preparation of menus. Some of the kitchen units do not contain thermometers for measuring the  exact  temperature of food to prevent them from contamination. There is also laxity in food handling; foods  do not get wrapped  but instead get left to open air. This too increases the  possibility  of contamination. Finally, lack of maintaining the required kitchen temperature from the required optimum temperature hinders proper food storage. However, Canoe restaurant demonstrated positive results in kitchen practising habits. First, there is a high  level  of cleanliness maintained in terms of personal hygiene, equipment, clothing and the kitchen surroundings. An excellent grading result depends on  the perfection  of the restaurants’ staffs’. The  chef gets tasked with the ability  and skills to ensure  per fect  food handling, storage and preparation (Hutter 26).

Factors for Determining the Extent to which the State has Full Control Essay

Factors for Determining the Extent to which the State has Full Control within its Territory - Essay Example In the modern world, people are living in a globally mutually dependent system where events taking place a thousand miles away have an effect on them. The world is shrinking because of globalisation, which is a political, economic, socio-cultural and technological process whereby state borders significance decrease and their citizens reside in an incorporated worldwide system. Nonetheless, government and non-government actors are demanding the supremacy of states as well as their self-governance. The attrition of state borders, as well as, the decline of state self-government is an important matter as it reduces the extent to which a state has full control within its territory. Sovereignty distinguishes a state from all the other associations. It denotes the final and ultimate legal authority and beyond, which no further legal power, exists. It has two aspects: internal sovereignty and external sovereignty. Internal sovereignty is the ultimate authority of the state over every person and association within its geographical boundaries. By virtue of internal sovereignty, the state formulates and enforces laws on people as well as associations. Any person or association who violates these laws receives a punishment. On the other hand, external sovereignty refers to the freedom of a state from foreign powers control. There is no external authority, which can limit the state’s power. ... It denotes the final and ultimate legal authority and beyond, which no further legal power, exists (Keohane & Nye 2001). It has two aspects: internal sovereignty and external sovereignty. Internal sovereignty is the ultimate authority of the state over every person and association within its geographical boundaries. By virtue of internal sovereignty, the state formulates and enforces laws on people as well as associations. Any person or association who violates these laws receives a punishment. On the other hand, external sovereignty refers to the freedom of a state from foreign powers control. There is no external authority, which can limit the state’s power. France is a sovereign state, and this enables it to have a considerable control within its territory. It comprises of equal persons and not separate communities. There is national sovereignty also known as top-down sovereignty, which is sovereignty of national states as well as popular sovereignty or bottom up sovereignt y, which is sovereignty of the people (Krasner 1999). In France, national sovereignty matches up to the notion that each Nation, which has an assembly of people unified by a mutual history, culture and language, retain control of the choices, which it has to come to for the common good of the people. Popular sovereignty in France is important because it is the essence of democracy; power proceeds from the people who entrust it in the interim to their elected officials. It is inalienable and delegated (Friedman 2005). People have the freedom to act, decide, and undo. Numerous organisations often operate across the borders of many countries, for instance, Microsoft, which is and an American multinational company that helps customers

China and Japan Essay Example | Topics and Well Written Essays - 1250 words

China and Japan - Essay Example It has evolved and changed, during the 20th century. Many ethnic groups have existed in China. The pre-eminent ethnic group is the ‘Han Chinese’. Most social values are derived from Confucianism and Taoism with a combination of conservatism. Reincarnation and rebirth is the connection between real-life and the next-life. Spoken Chinese consisted of a number of Chinese dialects. The ancient written standard was Classical Chinese and it was used for thousands of years, but was mostly reserved for scholars and intellectuals. A large part of Chinese culture is about finding the balance of Yin and Yang in relation to Qi, in order to find harmony. Chinese medicine consists of a number of treatments including Chinese herb logy and acupuncture. Other forms of health improvement include meditation. Japanese culture has evolved from the ‘Jomon’ culture, which combines influences from Asia, Europe and North America. Archaeological research indicates that people were li ving on the islands of Japan as early as the upper paleolithic period. Japanese is written with a combination of three different types of scripts: Chinese characters ‘Kanji’ and two syllabic scripts, ‘Hiragana’ and ‘Katakana’. The Hindu-Arabic numerals are generally used for numbers, but traditional Sino-Japanese numerals are also commonplace. Japanese sculptures mainly settled on the subject of Buddhist images. Wood has traditionally been used as the chief material. The oldest sculpture is a wooden statue of 'Amitabha'. 'Chanoyu' and 'Ikebana' are the traditional rituals. The most popular professional sports are Sumo, Judo, Jujutsu and Kenjutsu. Political view of China and Japan:- The deadlock of the Chinese Civil War has resulted in two political states: the People's Republic of China (PRC), known as China, which controls "China proper" as well as Tibet, Inner Mongolia, Xingjian, Hong Kong, and Macau; and the Republic of China (ROC), known as Taiwan, which controls the island of Taiwan and its surrounding islands. The PRC is governed under the one-party system by the Chinese Communist Party, but the ROC has moved towards democratic government. After the founding of the PRC, both states claimed to be the sole legitimate ruler of all of "China". The ROC had more international support but most international diplomatic recognitions have shifted to the PRC. Both regimes use diplomatic and economic means to compete for recognition in the international arena. Currently, the PRC is recognized by most world organizations such as the World Health Organization and the International Olympic Committee. Today, there are 24 U.N. member states that maintain official diplomat ic relations with the ROC while the majority of the U.N. member states maintain official diplomatic relations with the PRC. Japan is recognized as a liberal democracy with free and fair elections, has operated with a dominant-party system known as the Liberal Democratic Party. It takes place in a framework of a parliamentary- representative- democratic- monarchy, whereby the Prime Minister of Japan is the head of government. Executive power is exercised by the government. Japan is generally considered a constitutional monarchy, based largely upon the British system with strong influences from European continental civil law countries such as Germany and France. The Emperor of Japan is "the symbol of the State and of the unity of the people" and exercises a purely ceremonial role without the possession of sovereignty. The constitution is called "the Pacifist

Global economy Midterm Review Questions Assignment

Global economy Midterm Review Questions - Assignment Example phenomenon in which the business environment in a country is deregulated so as to attract investors, causing low wages, poor environmental protection and poor working conditions. Issues such as minimum wage, political autonomy and workers unions are foregone for the sake of creating a favorable working environment. This is considered to e a problem because countries with poor working conditions and low environmental protection standards are deemed best for investment. Causes of race to the bottom include the pollution problem, poor government policy influenced by MNCs and government instabilities. First, other than free trade, Rivoli argues that there is need to develop strong political policies and reforms to address political barriers. For example, in her book, she argues that having a good political framework to protect the industries in America against the sweatshops that pay their workers 50 cents an hour is a better alternative than the free trade agreement. Secondly, she says that there is need to reform the famous trade agreements that limit or inhibit exports and import. In the US for instance, there are a number of such agreements that in fact limit the importation of t-shirts. If these factors are addressed, fairness in global competition will be introduced. Manufacturers will be able to work and export their products in a fair manner. The apparel industry best captures the history of globalization by showing how a single commodity moves through various processes and markets, thereby highlighting the interconnections between markets. The industry highlights the basic concepts of globalization such as political and cultural process. Arms trade globalization occurs both in the production and consumption. Most countries spend considerable amounts for procurement of arms. This is linked to lower spending by governments on the other areas. In the context of globalization, the arms industry is escalating conflicts and the proliferation of arms has

Criminology Research Paper Example | Topics and Well Written Essays - 1500 words

Criminology - Research Paper Example Later Robert King Merton seized on this idea of anomie and further refined it into what we now know as Strain Theory. (Featherstone, 2003) This and other theories of criminology such a labeling, which is stereotyping someone with criminal behavior, all depend on environmental factors alone. However there is another side that is overlooked by environmental theories and that is the nature of the person involved in criminal behavior. This is the consummate debate between Nature versus Nurture. Do Criminals have an innate imprint from birth that lead them astray or are they created as a result of their environment? This paper will explore both sides of this issue, singling out strain theory as the environmental factor, and researching the genetic side, the innate behavior in human beings and its influence on behavior. Environmental Influence: Strain Theory This strain begins in early adulthood and adolescence, as children are exposed to the environment of everyday living. Those in poorer circumstance with less opportunity to achieve the goals they see presented in the media are often frustrated and anxiety ridden. "The social strain theory of delinquency is based on the idea that delinquency results when individuals are unable to achieve their goals through legitimate channels." (Sullivan & Wilson, 1995 p. 1) The most obvious example of this is the "Gangsta" culture that is often promoted on many levels as the way that those without the legitimate means may attain those goals. But this is nothing new, the deification of criminals certainly has been a recurring theme throughout history and the romanticizing of their crimes leads to an unrealistic portrayal of possibilities for the maturing adolescent. One of the earliest strains in the life of a juvenile is the search for legitimate employment. Again, dependent on circumstantial variables of education and cultural jobs may be difficult to find and lead to feeling of persecution and prejudice: Sociological accounts o ften note that delinquency is an invention of western industrialized society and the separation of childhood from the adult world of work. As job security becomes more precarious in western economies, and as adult unemployment linked to school failure becomes more common, the lasting significance of the counterschool subculture of delinquency in the life course may become more salient for some adults. (Hagan, 1997, p. 121) This "counterschool subculture" is perhaps one of the most deleterious results of the social strain concept. Difficulties in school are often one of the benchmarks of the evolving delinquent. First seen as the failure of the child or parent and then of the school system, these children often have no recourse but to find alternate means of attaining status and capital. "Several theories emphasize how stress or strain can motivate criminal behavior so strongly that possible constraints are ignored. Therefore age and crime may be related because many potential stress es or strains are age-linked." (Tittle & Grasmick, 1997, p. 321) On the microcosmic level of the young adult this can have many differing ramifications. An unsettling home environment often precipitates failure in school and exposure to abuse or neglect is often present in these conditions. These strains

Quality Management and Continuous Improvement Uni 3 DB Essay

Quality Management and Continuous Improvement Uni 3 DB - Essay Example Use of team contacts: Finding time to make students work together and giving responsibilities and roles to each group member can be difficult (Kelly, 2009). Therefore each group should structure a team contract to outline when and how the group can work as one. Options for interaction include audio bridging, e-mail, text-based chat, threaded discussion or document sharing. Team contacts help the instructor to easily track down students and students are able to contact on another without difficulties. Explain group work importance: Some students do not like working in groups although they need to see the benefits of such group works. This is because working teams is critical and students have to learn so that they can be functional when it is time to work (Kelly, 2009). This technique will be able to embark upon complex tasks together than they would individually, overcome fear, develop strong communication skills, challenge assumptions, manage time, receive encouragement when taking risks, share broad perspectives, develop new and better approaches of resolving differences and realize their strengths and

How Can Risk Influence Risk Premium Essay Example for Free

How Can Risk Influence Risk Premium Essay Risk and return are the fundamental basis upon which investors make their decision whether or not they should invest in a particular investment. How they are related and the influence between the two, is the decision making process that all investors must weigh up. This essay will show how risk can influence risk premium, outlining their relationship and how risk and return are related. Within any investment there is a certain amount of risk, which must be taken into account by an investor when deciding to invest. Risk is defined as the chance of financial loss or, more formally the variability of returns associated with a given asset. This concept in finance is the idea that all investment carries a risk, the higher the risk, the greater the return, however the adverse is also relevant, when the risk of an investment is lower the return is expected to also be lower. However, with all investment there is never a guarantee of return. Return is the total gain or loss experienced on an investment over a given period of time. It is measured by the asset’s cash distributions plus change in value, divided by its beginning-of-period value. (Gitman, et al. , 2011, p. 08) Returns on investment are the motivation to all investors, however as all investment carries a risk, the investor must have a required and expected return on the investment. Expected return, is the return that an asset is expected to produce over some future period of time, while required return, is that which an investor requires an asset to produce if he/she is to be a future investor in that asset. It is here that we see the relationship between risk and return. With the expected and required return on an asset, an investor can calculate the return of an asset and its risk. Kidwell, et al. , 2007, p. 307) To better understand this relationship we must analyse risk premium. Risk premium refers to an asset’s expected rate of return and how that exceeds the risk free rate. The risk free rate is the interest rate of a stable investment usually a government bond or Treasury bill, which is used as a stabilizer and market equivalent in the calculation of the risk and return. (Kidwell, et al. , 2007, p. 307) The required rate of return is therefore based on the expectations of the investor. Risk premium is the compensation for making and undertaking an investment and risk. It is here that we bring all the above mentioned components of risk, return, and risk premium together to formulate: Required rate of return = Risk-free rate of return + Risk premium From this equation we see how risk can influence the risk premium and in turn affect the required rate of return. As risk premium is based on the investor’s compensation for undertaking the risk, we can surmise that the higher the compensation wanted by the investor, the higher the risk will have to be to gain the required rate of return.

Impact of Internationalization on Company Performance

Impact of Internationalization on Company Performance Increased deregulation, cross-border activities of non-financial companies and improved information communications technology led to an increased consolidation of financial institutions across borders. Commercial banking sector in particular, have witnessed tremendous amount of cross-border bank merger and acquisitions (MAs) deals throughout the recent years. While globalization has accelerated cross-border merger activities around the world, another global force recently has been creating a counterweight to cross-border deals. Concerns over nationalism, feelings of national security and protectionism have delayed several cross-border banking deals. Basically, MAs of these institutions results in Consolidation, Internationalization or Conglomeration. In this context, Consolidation: It is a result of more concentrated banking systems, smaller number of larger firms. Ex: Consolidation of Bank of New York and hMellon in 2007 in USA. Internationalization: It is evidenced by increasing number of banking and other financial institutions that operate across national borders. Ex: Citi Bank, HSBC etc., operating worldwide. Conglomeration: Larger number of financial groups whose activities combine those of bank and non-bank financial firms. Ex: State Bank of India combining other State Banks for various activities in its umbrella in India. Objective and Scope of the Project The objective of this project is to understand the concept of internationalization and observe strategic patterns undertaken by various banks and evaluate the way it affected the performance of the organization. In this process, we consider exploring the following areas with a case study of a Canadian or US bank along with our study. Introduction to Internationalization After a relatively quiet period in 2001/2002, international mergers and acquisitions have picked up again. Since the 2003 mergers between Bank of America and FleetBoston, and JP Morgan Chases acquisition of Bank One, speculations were fueled about comparable cross-border deals in the European banking market. JP Morgan Chase announced its purchase of London based Cazenove in October 2004, while Spanish Banco Santander bought British mortgage bank Abbey National for 12.5 billion euro in august 2004, the largest cross border acquisition since HSBC bought French CCF in 2001. On the other hand, restructuring also took place. Credit Suisse announced in December 2004 that it would absorb First Boston, its global investment bank, into the parent organization to revive profits. After barely four years, ING sold the largest part of its German bank BHF to Sal Oppenheim while expanding its Internet banking activities. These examples reflect the increased internationalized nature of banking competitions in three respects (Llewellyn, 1999). Customers that have global financing opportunities are able to arbitrage between domestic, foreign banks and capital markets. Banks are not restricted to business in their own country. Regulatory entry barriers have lowered, making it easier for banks to locate in other countries. In other words, many of the largest banks in the world have been struggling toward a new organizational model where terms as home market seem to become a by-product in a broader strategic vision. Swiss bank UBS, the fifth largest bank in the world measured by assets in 2000, has more than 80% of its assets outside Switzerland. Netherlands based bank ABN Amro owns a retail branch network in Brazil, 9,500 km from Amsterdam which constituted 15% of total profits in 2000. In 2003 the 30 largest banks held more than USD 7,586bn, or 39% of their assets, outside their home country. Successes in international banking are few, failures have been common. One of the more spectacular failures was the acquisition of American Crocker Bank by British Midland Bank in 1981, costing the bank USD 1bn over the next five years and forcing its strategy to retreat on the British retail banking market. Midland was acquired by Hong Kong based bank HSBC in 1992, a bank who subsequently showed that internationalization can be a profitable activity. Degree of Internationalization (DOI): The extent to which a Bank exists and operates in the international markets away from its home market can be measured by a metric called ‘Degree of Internationalization (DOI). Generally, it is measured in terms of the share of assets, revenues, profits, or employment that locates abroad. Literature Review The hypothesized positive relationship between performance and DOI goes back at least to Vernon (1971); many studies have followed. It is generally hypothesized that internationalization is good for firms and leads to better performance, for several reasons (Contractor, Kundu, and Hsu 2003; Dunning 1977, 1981). Going international implies that firms can spread fixed costs, such as operating overhead and research and development (RD) expenditures, through a greater scale and scope (Markusen 1984; Kobrin 1991). Internationalization allows firms to learn about domestic markets from their international market experience, thus improving performance (Kobrin 1991). Operating in foreign jurisdictions allows firms to access factors at lower cost (Helpmann 1984; Porter 1990; Jung 1991). This is particularly true for instances of FDI and other modes of direct involvement in foreign markets. Internationalization allows firms to cross-subsidize their domestic operations and provides greater opportunities for price discrimination and tax and price arbitrage. Although theory implies a positive relationship, the empirical evidence of the effects of DOI on performance is mixed (Hsu and Boggs 2003). For example, Sullivan (1994) lists 17 studies that test the relationship between DOI and financial performance, six of which find a positive relationship and five negative. The remaining six find no relationship. This reflects the consensus in the literature that the empirical results are highly dependent on the sample, the measures of DOI, and the measures of performance used. In addition to testing this link, the literature has moved in two distinct directions. First, to address a measurement issue, Sullivan (1994) attempts to more reliably measure the DOI of a firm by developing a novel index measure of internationalization that captures three of its attributes: Structural, Performance, and Attitudinal. As Ramaswamy, Kroeck, and Renforth (1996) show, there are several limitations to the empirical and theoretical underpinnings of Sullivans work as the DOI is measured in uni-dimensional method. There is also a growing literature focus on the shape of the relationship between DOI and performance. Contractor, Kundu, and Hsu (2003) list 15 studies that find the relationship between performance and DOI is linear: seven of the studies find a positive relationship, four a negative relationship and four no relationship. Two studies listed find a U-shaped relationship, and eight find an inverted U-shaped relationship. Contractor, Kundu, and Hsu (2003) and Lu and Beamish (2004) provide theoretical models for curvilinear relationships between DOI and performance. By analyzing data for 125 multinationals, Kim, Hwang, and Burgers (1993) document the importance of global market diversification in the joint management of risk and return. The measures of global diversification capture the number of foreign markets being operated in, as well as the pattern of a firms industries across those countries. A small literature investigates the performance of Canadian banks. DSouza and Lai (2004) estimate the effects of scope, scale, and concentration on Canadas six largest banks. They find that banks with greater concentration in their business lines are less efficient. Interestingly, for some model specifications, the effect of size on performance (as measured by return on equity) is negative. Using a different methodology, Allen and Liu (2005) estimate cost functions for Canadian banks and find that larger banks are more efficient. Neither study considers the impact of DOI on performance. Walid Hejazi and Eric Santor tried to address this DOI Performance realtionship by verifying the direction. i.e., weather DOI is driving superior performance or it is otherwise around. They also brought the risk factor of the country (in which the bank is venturing) into the equation and found that there is a weak but significant positive relationship between DOI Performance. Measuring the Degree of Internalization There are different approaches to measure a banks degree of internationalization, and estimating the degree of internationalization of a firm or bank is to some extent vague and a random process. An initial approach could be to construct a single item indicator or one-dimensional measurement as indicated above in the literature review; Sullivan (1994) reviewed 17 studies which all applied a single item indicator to measure the degree of internationalization, i.e. the ratio of foreign sales to total sales as degree of internationalization. However as indicated by many researchers and as identified in the literature review above from the work of Ramaswamy, Kroeck, and Renforth in 1996, the use of a single item indicator increases the potential error of measurement, because a single parameter is always more prone to external shocks which may or may not indicate the performance. An alternate approach is to combine several indicators into one index. Depending on the choice of indicators, this might provide a better approximation of the degree of internationalization, but the choice of indicators may be restricted on data availability rather than theoretical induction (Sullivan, 1994). We will follow the method that is most cited and adopted by the researchers in UN conference of Trade and Development. This method applies three single item indicators, which are combined in a composite index to analyze the degree of internationalization of a bank, the Transnationality Index (TNI). The TNI is one of the most cited indicators for internationalization (cf. United Nations Conference on Trade and Development, 1998, van Tulder, van den Berghe, Muller, 2001). The index is expressed as a percentage and calculated as an weighted average of Foreign assets to total assets ratio, Foreign gross income to total gross income ratio and Foreign employment to total employment ratio[1]. The percentage term of the TNI is that the degree of internationalization is presented in one scale, which by definition moves between 0 and 100. Also an internationalization index that incorporates income, staff and assets captures a richer picture of the banks foreign activities than that which would be captured by income, staff and assets separately (cf. Sullivan, 1994). Another attractive characteristic is that the TNI dampens the effect of finance companies or off shore funding constructions if a ratio were only based on foreign assets relative to total assets. A substantial amount of assets can obviously be expected to be located in tax havens or countries with lenient fiscal regimes. Such reported assets would be accompanied by low number of employees. Combining both employees and assets in the TNI would then create a more balanced view. The same argument also applies to investment banking activities that are concentrated in financial centers outside the home country; these ac tivities tend to generate a relatively high degree of income with fewer employees. Demonstration of Measuring DOI through TNI method There is also a flip side for this TNI. It cant take into account the recent technological changes, geographic boundaries, and we cant guarantee every bit of data to be same and uniform in all countries. Technological change: A disadvantage of the TNI might be that the construction of such an index cannot take account of the effects of technological change. Changes in technology can for example raise productivity and increase the assets or income per employee; if these changes are distributed evenly over the total bank organization then its effect on the TNI is probably limited. If the ratio of foreign assets per foreign employee increases in the same amount as the ratio of domestic assets per domestic employee, then technological change has no effect on the TNI. From the mid 1990s however technological advances have had other geographic distribution effects. For example, the development of â€Å"Internet† banks like ING Direct implies that the share of foreign assets and foreign income increases while staff and operations working for the Internet bank basically remain at home. This might potentially depress the true extent of internationalization measured by the TNI. Geographical boundaries: For Banks like Fortis, Belgian/Dutch corporate structure creates a problem to determine what region is home or foreign. This is solved in the database by denoting Benelux as home. Similarly, HSBC is the only bank that is not disclosing information for the home country, instead it is reporting Europe as ‘home region. Data availability: Not all banks have consistently reported detailed information on foreign assets, staff, income or profitability. Banks like SBC, UBS or Deutsche Bank did not report this information although they progressed significantly with their internationalization activities. A general remark is usually found in the financial report stating something like â€Å"due to the integrated nature of our activities worldwide a geographical breakdown does not provide additional information†; the information provided by British and American banks in the 1980s proves otherwise. Data collection from other sources provided valuable information. For example, foreign banks in the United States have to report their balance sheets to the Federal Reserve. Internationalization Patterns Internationalization for banks has progressed at different paces, with different purposes. Here we try to identify these internationalization patterns. As several motives are grounded in history, we start with a brief historic overview of internationalization, after that we shall discuss about various activities that the banks pursued as a part of Internationalization. Historic Overview Internationalization of banks is not a new phenomenon. In 1913 there were approximately 2,600 branches of foreign banks worldwide. The dominating factor at that time was colonization, over 80% of those branches belonged to British banks. The share of foreign banks accounted for one third of banking assets in Latin America and over one half in countries like South Africa, Turkey or China (Goldsmith, 1969). The financial empire of J.P. Morgan started out as a partnership financing American civil war loans from England (Chernow, 1990). International banking has in some respects not changed that much. Over time, innovations in financial instruments, telecommunication, information technology, organization innovation and the growing sophistication of customers have meant a dramatic transformation in the conduct of banking business and client relationships in international banking. The sheer size of international involvement of the present day internationalized banks has increased dramatically (cf. De Nicolà ³, Bartholomew, Zaman, Zephirin, 2004). Foreign assets of the thirty largest banks as a percentage of total assets have changed from 35% in 1980 to over 38% in 2003. However, the absolute size of foreign assets of the thirty largest banks has raised eleven fold from USD 650bn in 1990 to USD 7,571bn in 2000. The increasing importance of foreign activities has affected profitability and stability of internationalizing banks in their home country; it can also have serious effects positive as well as negative on the host economies. The intensity with which banks have pursued internationalization strategies also encouraged us to have a study on them. The dissolution of the British Empire meant that British banks represented the old internationalization of banking. American banks on the other hand have been on the rise since the Second World War. American financial aid, exports of American firms and the export of American ideology such as freeing of competition or creation of uniform markets were feeding ground for internationalization activities of American banks. From the 1960s onwards income in Western economies rose and banks developed more financial products to cater households and businesses as increasing scale of firms raised transaction volumes in corporate finance. American banks formed an apparent threat, seeking out the more profitable activities in investment banking in Europe, being equipped with better staff, more financial resources and more experience. The creation of off shore markets to circumvent (American) regulation and the political potential of seizure of capital belonging to communist states induced the first series of international activities, later propelled by the inflation of capital markets when oil producing countries forced serious wealth transfers. European banks either tried to work together in consortium banks to participate in these activities (Roberts Arnander, 2001) which in the beginning was a cost saving and knowledge rewarding construction or set up foreign activities themselves. Redistribution of the surpluses of oil producing countries found their way to emerging markets, with American banks leading the way. The growing volume of loans masked growing economic imbalances, brought to light from 1981 onwards when Latin American countries defaulted in their loans. Internationalization of banks became a worldwide event (United Nations Centre on Transnational Corporations, 1991). Institutions like the IMF aided governments with restructuring loans, dealing with severed banks and capital markets in distress. Governments of the lender banks, especially the United States, faced potential crisis at home when the losses in emerging markets were transferred by the large banks to their home country. A consequence of this restructuring period was that in the 1980s capital strength and adequate supervision of internationally operating banks were major issues for bank regulators. A major coordination initiative took place in the Basle Accord of 1988, creating more transparency and uniformity among regulatory policies for internationally active banks. Among others, the Basle Accord became one of the drivers for the Japanese banks to retreat from the international arena. Japanese banks increased international activities sharply from the early 1980s fuelled by strong domestic economic growth, a fast pace of deregulation and large flows of foreign direct investment by Japanese industrial firms. The Japanese stock market decline from 1989 showed that (international) banking strategies had not been based on sound banking practices, affecting bank capital and loan quality at the same time (Canals, 1997). Japanese banks found ways to stave off restructuring of their bad loans for almost a decade, contributing substantially to the prolongation of economic recession, and steadily relinquishing their importance in international banking. A general trend fuelling international activities was the ongoing process of disintermediation from mid-1960: large firms found it more profitable to arrange loans directly with institutional investors, thereby bypassing the role of banks as financial intermediaries. Additionally, stricter monetary policies introduced from the late 1970s onwards eventually led to a steady decrease of interest rates consequently lowering income from the core business of banks. These trends forced banks to reconsider their strategic business portfolios. Non-interest income, especially the high margins of fees and commissions in investment banking, became a promising route. The liberalization of British securities markets in 1984 was followed by an unprecedented wave of acquisitions by host banks. By the end of the 1990s British owned investment banks or securities houses in London were few in number; London as an important financial center had become a manifest of internationalization activities of ban ks. Internationalization of banks was also a response to further regional integration and deregulation (cf. Group of Ten, 2001, January). In Europe especially, banks were aware that the competition for larger clients extended over the geographic borders, but the competition for retail clients remained a domestic issue. By the mid-1980s, European integration created momentum in Europe, redefining markets for banking activities on a multinational scale. Mergers and acquisitions became an important strategic tool for banks. They generally took place in two phases: domestic consolidation and then, international expansion; the creation of higher domestic concentration in order to more effectively compete internationally. Opportunity was provided by the capital markets (lower interest rates and higher stock market prices) and the regulators, privatizing banks or not opposing the takeovers. The close of the decade shows the financial might of just a handful of banks: the top 25 banks in 1980 ha d total assets of USD 1,858bn, equal to 30% of GDP. In 2000 this had risen to 64% of GDP, a combined total of USD 12,781bn. Of this amount, 41% are assets outside the home country. In fact, foreign banks practically control the banking sectors in many Eastern European countries; for some observers the â€Å"Single global banking space is almost a reality† (Mullineux Murinde, 2003). The foreign owned assets of the largest banks exhibit uneven geographic patterns, â€Å"Regions and/or countries of the developed world currently represent the most interconnected cluster of national banking systems† (De Nicolà ³, Bartholomew, Zaman, Zephirin, 2004). Internationalization pattern of Banks Starting in the 1970s, bank internationalization originally consisted of setting up banking activities in financial centers and economic centers. Part of this was related to incentives such as â€Å"follow-the-client† or aimed at increasing overall profitability. Additionally, restructuring and expansion in the domestic markets might have been cumbersome for some and impossible for other banks, further stimulating internationalization. Regulatory idiosyncrasies in the home market might be one explanation for this, but also the existence of a home bias ‘inertia: restructuring the domestic retail networks in the early 1980s might have been more difficult with vested interests in the home country such as labor unions. In particular, banks in smaller countries had to expand abroad for fear of anti-trust regulation at home. For most banks during the 1980s, international expansion supported their domestic strategies and was relatively small compared to the home country. So banks did not have to attract additional capital. When banks initiated larger acquisitions in the late 1980s and 1990s, external capital became more important as a source of financing. (Domestic and foreign) shareholders not only provided additional capital to expand. They also followed management more closely, and pressed for changes when expected results were not delivered. An increasing shareholder role and foreign profitability that was below expectations, led bank managers to change objectives in the mid 1990s: profitability should be internally generated, the domestic base strengthened and foreign activities divested if they did not contribute satisfactorily to total profitability. Banks can offer in principle five product categories: credit, securities, asset management, financial services and insurance. Also, five client types can be distinguished that banks can target: Governmental clients (nation states, supra national institutions), Corporate clients, Institutional clients (other banks, asset managers and insurers), Retail clients and Private clients. The case studies show that banks which entered new market activities actively serviced and targeted a wide range of clients and products. Two specific patterns have been identified: Ø Capital market activities, and Ø Foreign retail banking Capital Market Activities For capital market activities banks offer credit, securities, asset management, and financial advice to governmental, institutional and corporate clients. The majority of the banks had set up such operations by 1980: they participated in the Euromarkets, issued bonds to finance their own activities, and took advantage of the financial deregulation in the financial centers. Expanding capital market activities was spurred in the mid-1980s with the financial liberalization in the United Kingdom, and in the mid-1990s with the prospect of restructuring in the European Union. For several banks, the decision to participate in the capital markets heavily influenced their overall strategy. Paribas and J.P. Morgan decreased their commercial banking activities and transformed themselves into investment banks. Both banks however did not have the scale by the end of the 1990s to remain a major market participant in investment banking and sustain the increasing IT investments: J.P. Morgan was subsequently acquired by Chase Manhattan in 2000 and Paribas by BNP in 1998. Most of the acquisitions of UBS, SBC, Credit Suisse and Deutsche Bank in the 1990s were capital market related, steadily increasing their reliance on fee income instead of net interest income. The composition of the fee income changed: more lucrative (but volatile) fee income from financial advice and securities re-distributions on mergers and acquisitions was combined with more stable income from asset management activities. Period 1970s 1980s 1990s Reason Growth Eurocurrency markets (London, Paris, Zurich) Financial liberalization of American stock market Financial liberalization European capital markets (London, Paris, Amsterdam) Financial liberalization of Japanese capital markets Catch up new entrants to profit from current bull market, consolidation existing players Example Chase, Citicorp Deutsche Bank, ABN Amro, Societe Generale Credit suisse, Deutsche Bank, JP Morgan Table 2: Development of Capital Market Activities Retail Banking International retail banking has been the domain of a selected number of banks. Chase and Citicorp set out to expand a retail network in Belgium, The Netherlands, Germany and the United Kingdom in the 1950s and 1960s. European banks in the 1970s and 1980s on the other hand did not expand in retail banking in Europe, but expanded in the United States, especially in California where British and Japanese banks bought retail banks helped by lenient regulation. For most Californian banks, their sale was either instigated by regulation (banks that cannot be bought by domestic competitors due to an increase in market share or banks that need outside capital) or poor performance. By the early 1990s a large number of banks exited from the United States market: they found it difficult to transform these banking operations into profitable ones, and their exit was speeded by the deregulation of interstate banking (cf. Tschoegl, 1987). The general expectation was that this would raise the minimum scale of operations to compete effectively, requiring large amounts of additional investments. Banks that remained were for example HSBC and ABN Amro. Eight foreign banks, including all of the British banks, held retail networks in the United States in the early 1980s; by the late 1980s five had opted out. For European banks, the growth of foreign commercial bank networks took place from the mid-1980s. A limited number of banks (HSBC, ABN and Citicorp) have maintained these foreign networks throughout the period. From the 1990s, the following banks pursued retail banking strategies: Ø Santander in Argentina, Mexico, Chile Ø BBVA in Argentina, Chile, Mexico Ø ABN Amro in Brazil and the United States Ø ING in Belgium Ø HSBC in Mexico, Brazil, the United States/Canada and Hong Kong Ø Citibank in Germany Two groups of banks did not enter foreign retail banking, or only to a limited extent: Swiss banks and Japanese banks. Swiss banks had retail banking activities in their domestic market, but not outside Switzerland. Switzerland was a major financial center and as an economy ran a capital surplus; an explanation might be that setting up foreign capital market activities was a more logical foreign extension of activities then setting up or acquiring foreign retail banks. Japanese banks also entered foreign retail banking to a limited extent. Their activities were mainly concentrated in California, where the banks initially had some links with Japanese immigrants. More important, lenient regulators allowed takeover of Californian banks by foreign competitors. The existence of an opportunity set the ability to buy compared to other more regulated banking markets has probably been the main incentive. Organizational form Banks which decided to enter new markets or to strengthen their market position have had a wide range of options available to them as to how they could proceed in implementing their foreign banking activities. Looking back at activities, there has been a strong rise in the number of each of the approaches used. Three specific developments in organizational form have been identified: Branch Networks Alliances and Joint Ventures Internet Banks Branch Network In general, the objective to build a branch network has been to assist foreign clients, finance activities more cheaply or to evade home country regulation. Activities in financial centers were set up, usually starting with London, New York and Singapore or Hong Kong. This was then expanded to second tier financial centers and economic centers in Europe, the United States, Asia and Latin America. Period 1970s 1980s 1990s Incentive Break down consortium Trade relates service existing clients Increase in trade and exports Liberalization of Capital markets Open up markets (Spain) Growth in Asian Capital Markets Opening of Eastern European markets Increase volume of securities market Example Citicorp, Bank of America, Lloyds, Barclays, ABN Amro, NMB, WestLB Deutsche Bank, Dresdner Bank Table 3: Development of Branch Networks Alliances and Consortium banks Consortium banks were mainly a feature of the late 1960s and 1970s. With these joint ventures, banks tried to create a platform to service foreign clients and undertake corporate finance activities, while sharing the costs of building such an activity independently. In the beginning of the 1980s, there were a number of banks who relied on the consortium banks to provide an alternative for a foreign branch network. These were Amro and Midland. Subsequently, a number of banks built their foreign networks by buying out the other shareholders in the consortium banks. During these alliances banks probably also acquired detailed information of the partner banks. This could be concluded from the observation that ING unsuccessfully acquired former InterAlpha partners from the mid-1990s for its expansion in Europe. From the 1990s, alliances between banks either had to develop specific skills neither bank could achieve alone, or serve as a defensive move in wake of expected restructuring in the European banking market. This usually was accompanied by share exchanges. Alliances to acquire or share specific skills Alliances to ensure future market position Ø Royal Bank of Scotland Santandar (1990) Ø BNP Dresdner (1988-2000) Ø Socià ©tà © Gà ©nà ©rale — BSCH (2000) Ø BBVA UniCredi

Epogen :: Science Biology Papers

Epogen Epogen is produced by the company Amgen. Amgen located atThousand Oaks, California, is a global biotechnology company. It discovers, develops, manufactures, and markets human therapeutics based on advanced cellular and molecular biology. Amgen, founded in 1980, is now the largest biotechnology company in the world. It has 4,200 employers around the world and 2,700 of the 4,200 workers, work at the headquarters in Thousand Oaks. Amgen has centers of research in "Boulder, Colorado and Toronto, Canada; clinical research centers in Cambridge, England and Melbourne, Australia; the international distribution center in Louisville, Kentucky, fill and finish facility in Junco, Puerto Rico; and European regional headquarters in Lucerne, Switzerland. Amgen has other international offices that are located in Austria, Australin, Belgium, Canada, China, France, Germany, Italy, Japan, the Netherlands, Hong Kong, Portugal, Spain, and the United Kingdom." (Amgen 1996) Amgen's first product, Epogen was approved in June 1989 for use in the United States. Neupogen (filgrastim) Amgen's second product, received approval for use in February 1991, is used for preventing infections in cancer patients that receive chemotherapy for bone marrow and peripheral blood progenitor cell transplantation patients and treatment for chronic neutropenia, which is a rare blood disorder. Amgen has research in the areas of hematopoiesis, neurobiology, inflammation/autoimmunity, and soft tissue repair and regeneration. Products from the research, in the four areas mentioned from above, may, sometime in the future, be used in treating conditions characterized by disorders of blood and bone marrow, neurodegenerative diseases such as ALS, Parkinson's, Alzheimer's, or traumatic nerve injury. Epogen Epoetin Alfa recombinant Epogen, or Epogen, has 3,000 units of recombinant Epoetin Alfa, 2.5 mg Albumin (Human) in sterile buffered solution (pH 6.9 +/- 0.3) of sodium citrate (5.8mg), sodium chloride (5.8mg), citric acid (0.06mg), in Water for injection. Its uses are stimulating the body to make red blood cells, treatments of anemia (loss or reduction of red blood cells) associated with chronic renal failure or anemia caused by AZT (zidovudine) in HIV-infected persons. Before Epogen was produced or used, blood transfusions and male hormone therapy was used in treating anemia, which was caused by chronic renal failure. Epogen Studies Studies on Epogen are available from Amgen, Food and Drug Administration (FDA), and the Journal of the American Society of Nephrology. One study by Amgen was "to establish the safety and efficacy of EPOGEN in pediatric patients" (Amgen 89), the second study from FDA, was about erythropoietin, which is

Emily Bronte :: Biography

Three children sit in a circle playing with wooden toy soldiers. The world these children play in is not Earth, but worlds of their own creating. The children in this circle will grow up to be some of the best eighteenth century writers. It is no surprise that as a child Emily Bronte and her siblings had active imaginations. They created the worlds of Gondal, Emily and Anne’s creation; and Angria, Charlotte’s creation (White 12). The world does not know much about Emily Bronte except what can be concluded from Charlotte Bronte’s autobiography (Winnitrith 111). She was born July 30, 1818 in Yorkshire, England. At the young age of thirty, Emily developed tuberculosis and died on December 19, 1848 (Magill 56). Her potential had yet to be reached. C.D. Merriman from The Literature Network said, â€Å"Many early works from her past were lost – only 3 personal letters exist from her possessions.† Emily was influenced by many people including her mother and father. Her father, Reverend Patrick Bronte, was a school teacher (Magill 56). Patrick Bronte had a humble beginning; he went to Cambridge University and worked in order to pay for his stay. Her father was looked down upon for being middle class in a high-class school. Emily’s stories feature a strong value of education and deal with injustices of society, which is believed to have originated from her father’s troubles. (White 8) â€Å"Emily’s mother, Maria Bronte died from internal cancer when Emily was only three,† according to The Victorian Web (Allingham). Kathryn White said, â€Å"The Bronte children felt the loss of their mother keenly, for though they never really remembered her. Her absence in their lives is reflected in the number of orphaned and motherless children who were featured in their early writings and novels.†(21) Despite the fact Emily never knew her mother; she characterized Catherine Earnshaw as having a similar sentiment about being more attached to the earth than to Heaven. (White 19). In November 1824, Patrick Bronte felt that his daughters needed a proper education so he sent his girls to Clergy’s Daughters’ School at Cowan Bridge. This school was rigid, had poor hygiene, and lack of a good diet. He withdrew his girls after Maria and Elizabeth died from inadequate care. Although Emily had a poor experience at school, education became an escape route in many of Emily’s writings (White 5-25). Emily, Charlotte, Anne, and Branwell grew up in Haworth.

Death of Mrs. Mallard

Causes of Mrs. Mallards Death After reading Kate Chopin’s â€Å"The Story of an Hour†, readers are left in wonder as to what ultimately resulted in the death of Mrs. Louise Mallard. While the very end suggests heart disease as the culprit, further analyzation of the story points towards a few other, deeper and slightly more complex causes. The first thing we learn about Mrs. Mallard is that she has heart trouble. This heart trouble turns is both mental and physical and is both within her body and the relationship with her husband, Brently Mallard. Her heart trouble is what makes the announcement of Brently’s death so threatening to her.Someone that has a weak heart would not be able to deal very well with such news. Therefore, the fact that Mrs. Mallard has heart problems proves to be a significant cause of her death. Another contributing factor in Mrs. Mallard’s death may have been the reporting of her husband’s death. Mrs. Mallard’s sister, Josephine, announces that Brently was killed in a train accident. Mrs. Mallard’s reaction is not the same as a normal woman’s would be â€Å"with a paralyzed inability to accept its significance†. Instead, she weeps immediately, afterwards retiring to her own room. The news of Brently’s death reveals to Mrs.Mallard her freedom from the oppression she probably experienced while married to Brently. The good intentions of Josephine might be another cause of Mrs. Mallard’s death. Josephine is the person who informs Louise of the bad news. Josephine tells Louise in broken sentences. Later, after Louise retires to her room, it is Josephine who is trying to check up on her, interrupting Louise’s realization and enjoyment of her newly found freedom. Together, they go downstairs, to Brently’s unexpected return and Louise’s death. The fact that Mrs. Mallard has heart trouble has an effect on the way that others have to treat her.Josephi ne’s awareness of her sister’s condition may have caused her to try and be as gentle as possible when informing Mrs. Mallard, but still contributed to breaking her unintentionally anyways. The emotional rollercoaster that Mrs. Mallard is thrown on is probably one of the bigger factors in her death. The news of her husband’s death is the first big drop on the ride. It is a huge shock to Mrs. Mallard. She grieves, but then retires to her room alone where she goes into deep thought. This is where she discovers that she is a free body and soul from marriage and her husband. Her newly found independence is forbidden to her initially.She tries hard to fight joy that came with her realization because she feels guilty. Then, she begins to embrace it. She is elated and exits her room with a new perspective on the matter. She comes downstairs to the return of her very not dead husband and is again shocked and faced with another huge drop. These high ups and low downs are emotionally tiring to Mrs. Mallard. They are not any help to the fact that she has a weak heart. The biggest cause of Mrs. Mallard’s death is when Brently returns. She has already come to terms with Brently’s death and is looking positively towards her new future as a free woman.She finds joy in this and Brently’s return rips her freedom away from her, resulting in her death from not joy itself, but rather the loss of joy from losing the freedom she was so fond of. There were many causes that went into Mrs. Louise Mallard’s death. Her heart condition, the news of her husband, Brently Mallard’s, death, her sister’s good intentions, the emotional rollercoaster, and her sudden loss of freedom all add up against Mrs. Mallard. In the end, Mrs. Mallard wasn’t strong enough to handle all of these ups and downs.

A comparison of Robert Frost’s life and his writings

  Literary works are considered in part as a reflection of the life or parts of the life of an author. Indeed, literary writers expose a part of them with the words that they pen and share with the world.The poet and his/her works stand side by side as individual entities that both share similarities, or even differences, with each other, and yet the poem is not the author, and the author is not the poem; they are separate from each other, the one a part and product of the other but both entirely separate from each other.Because of this, it is interesting to investigate the presence of certain parallelisms, or certain opposites or contradictions, between the author and his life compared to the ethos of the literary works that a certain author has produced collectively, during his or her lifetime.One of the significant personalities in the long list of American poets and literary writers is Robert Lee Frost, or simply Robert Frost. Frost, a four-time recipient of the Pulitzer Prize, has contributed immensely to the collection of American poetry and literary writing, resulting to his earning the stature that makes Frost an ideal target for the analysis that this paper wishes to pursue.Investigating how professional literary critiques, analysts as well as other people who referenced Robert Frost or his works via the review reliable and credible literature leads to the idea that Frost’s works and what it stands for, what it means, and how it affects the audience are closely similar and related to Frost and how he lived his life, and it is in the pursuit of establishing this point is the endeavor to which this paper is dedicated to.The real and rural life  Frost was born in San Francisco, California on March 26, 1874, passing away 88 years later on January 29, 1963 in Boston, Massachusetts. He left behind American literature which he highly influenced and altered by adding his own works and his own writing style in the annals of American literary writing. In the pursuit of finding points of comparison that can establish common or contrasting points between the life of Frost and his writings, a cursory investigation of Frost’s life and his writings would reveal that commonality in particular is not very difficult to establish.Most of Frost’s writings was about the present time (at the time he was writing a particular piece), adding to the overall style of Frost which is generally realistic in nature. Frost wrote literary materials that reflect the life during his time, and in a way, the fictional works of Frost – his characters, his society or community – all reflects or imitates at least a part of Frost’s real life and aspects of his personality. This is a very important aspect of similarity comparison which this paper points firstly in this paper.Frost’s usual reference to rural life or the portrayal of rural life in his many different literary works was a reflection of Frost’s leanin gs towards the rural life, which was not very easy for Frost to completely attain since Frost, during his lifetime, spent much time in the city.Because of his penchant for the rural life, Frost’s depiction and tales of rural life in his many works reflect the similarities that Frost experienced in real life, especially about Frost’s rural life in both his young and mature years. In the early years of his marriage with Elinor Miriam White, Frost worked as a farmer, tending to the Derry, New Hampshire farm that his father bought for them to use to get started on their married life.

The Prehistory and Ratification of the American Constitution Essay

To ratify a treaty or agreement is to make it official by signing it or voting for it. For amendments of the federal constitution to take place, it usually requires the support of both the federal government and a given percentage of the constituent governments. Article five of the constitution of the United States of America illustrates how to amend the document. There are two steps involved; proposal and ratification. In proposing an amendment, either congress or the states can propose an amendment of the constitution. (Both houses of congress must propose the amendment with a two-thirds vote. Two-thirds of the state legislatures must call a congress to hold a constitutional convention.) In ratifying an amendment, regardless of how the amendment has been proposed, it must be ratified by the states. (Three-fourths of the state legislatures must approve the amendment proposed by congress or three-fourths of the states must approve the amendment through ratifying conventions.) Ratification of the constitution in 1787                  In 1787 and 1788, after the constitutional convention, there was a great debate in the United States of America over the constitution that had been proposed. Federalists were in favor of the constitution and a strong central government as well. These federalists were people like George Washington and Alexander Hamilton. On the opposing side were the anti federalists who were in favor of stronger state legislatures and a weaker central government. The anti-federalists did not want the constitution to be ratified. They were people like Samuel Adams and Patrick Henry. Federalists were in support of the ratification process due to the following reasons                  Federalists also reasoned out that the new government would not be dominated by any group and there were various adequate safeguards to protect individuals and the states. The constitution, therefore, did not need a Bill of Rights since it could create a ‘parchment barrier’ which limited the rights of people instead of protecting them. They considered a Bill of Rights unnecessary because the state governments already had such bills. They wanted a strong federal government which would hold the nation together. The nation was facing several problems, especially constant trade disputes which were at the verge of dividing the nation. A strong federal government was, therefore, necessary. Anti-federalists, on the other hand, did not support the ratification process for the following reasons; They were concerned about the liberties that Americans had won in the revolution. They feared that a strong federal government would destroy these liberties. They were worried that the constitution did not list specific rights for the people. From the above discussion, if I had been alive in 1787, I would have supported the ratification process because of the following reasons; A stronger national government was required to solve persistent problems in America such as lack of a common currency, constant trade disputes between the states and a lack of unity in trade. Features of the constitution would provide adequate power to the national government to address these problems while protecting the rights and freedoms of the people. There were philosophical reasons to oppose the constitution as well. The new government which would be established by the new constitution would create a link between sovereign states. Besides, government did not have power because it was the government, but because the people had granted it power. Federal courts had limited jurisdiction. Many areas were left to the state and local courts. New federal courts were necessary to provide checks and balances on the power of the other two arms of government. Federal courts would thus protect the citizens from government abuse and guarantee their freedom. By separating the basic powers of government into three equal branches, and not giving too much power group, the constitution would provide balance and prevent potential for tyranny. In addition, the anti-federalists’ main reason for not accepting the ratification process was that the bill of rights had not been included. Later on, the proposed bill of rights was incorporated in the new constitution, and therefore the ratification process was now a valid one. References Bailyn, Bernard. The Debate on the Constitution: Federalist and Anti-federalist Speeches, Articles, and Letters during the Struggle over Ratification. New York: Literary Classics of the United States:, 1993. Print. John, Jeffrey. A Child of Fortune: A Correspondent’s Report on the Ratification of the U.S. Constitution and Battle for a Bill of Rights. Ottawa, Ill.: Jameson, 1990. Print. â€Å"The Constitution before the Judgment Seat: The Prehistory and Ratification of the American Constitution, 1787-1791.† Choice Reviews Online: 50-0478. Print. Source document

My Favorite Coat

I have a coat in my mind. Some say it is my favorite coat. Indeed, it is one of a kind. My coat has moods, just as I. The two of us must never part. In the summertime, my coat has my heart. During the fall leaves touch the ground but my coat and I are still around. In the winter when it gets cold, my coat and I never grow old. As spring comes and snow melts away, my coat and I go out to play. Frost wrote, â€Å"Two roads diverged in a yellow wood,’ ‘And sorry I could not travel both’ ‘And be one traveler, long I stood’ ‘And look down one as far as I could’ ‘To where it bent in the undergrowth†¦Ã¢â‚¬â„¢Ã¢â‚¬  (n.d., The Road Not Taken). So my coat and I looked this road and realized too often the heavy load. I with my burdens all the day and my coat with its colors that sometimes changes from day to day. To understand how much we have gone through, one must know my coat is true. My coat is described in the words below and in the end, my coat and I grow. Description The coat I own is very cozy. It has two pockets on the outside and one on the inside. The coat that I own is in my mind, that keeps me warm all the time. It is made of black leather on a cold winter’s day and lamb skin internal that is what I can say. Pockets are snuggly and warm like hand muffs. The sleeves come down over my wrists, which is an advantage plus. My coat turns brown when the sun glistens through the trees. When it is autumn, the coat color changes in weather that is fair. Brown for the leaves, that fall everywhere. The pockets are lined with silk that is white. One pocket inside, carries my eyesight (glasses). During long hot summers, my coat remains true. It is on these days, it turns a cool shade of blue. The sleeves zip off and I can put them together. At these times, they become my belt. My coat becomes my robe of many colors. Despite the heat, I wear it on. When the sweat comes, it pours down my face. Yet, my coat remains true to its place. In the spring, when birds fill the air, my coat can be seen given me care. My sleeves zip on, during nights I get a chill. The coat of mine warms me at will. It knows my body, snuggling me from shoulder length and then the length goes near my toes. All the years that my coat and I coexist, hardly anyone knows. My favorite coat, whether it is black, brown, or velvet blue; changes with my mood and yet, remains true. This coat of mine is worn everyday. If the sun comes out, it glistens within. No matter what, my coat is a true friend. Summer’s come often and the heat increases. My coat and I do not go to pieces. I am cooled by the cotton within. The coat, itself, never will end. â€Å"What is that†, you ask? Why, being my true friend. Now in the spring, once again, my coat and I often spend. Time together, my favorite coat and I, sit in the park and watch people walk by. Birds still chirp and sing their song. My coat and I listen to expressions that never receive a gong. Conclusion Fall comes and trees are bare. Yet, my coat and I remain in each other’s care. I am warmed all the day. The coat is cleaned whenever I say. Dry cleaners for the best of what my coat has to give. Never, I imply, my cost must live. So by the light of the moon, I take out the coat cleaner. My coat is washed until it looks leaner. Not a speck of dirt, the silk must show. When I wear my coat, we both must glow. In the summer, when the sleeves zip off once again, I remain true to my coat because it is my favorite friend. Frost mentioned, â€Å"I shall be telling this with a sigh’ ‘Somewhere ages and ages hence:’ ‘Two roads diverged in a wood, and I—‘ ‘I took the one less traveled by,’ ‘And that has made all the difference’† (n.d., The Road Not Taken). Reference Frost, R. (n.d.). Table of Contents: The Road Not Taken. Retrieved February 28, 2007, from Web site: http://www.geocities.com/jnkees/poem1.html#nottaken   

Different types of stereotyping Essay

In My essay I will discuss stereotyping and different types of stereotyping. I will discuss how in todays society people are stereotyped in different many ways. In today’s society, there are stereotypes for almost any groups that individuals belong to. At some point in any person’s life, they would have experienced stereotyping. For instance, it is often said that all African Americans are good at basketball, males are more aggressive than females, Lawyers are deceitful, and the list goes on. Stereotypes are so wide spread and used so often that they seem to be a natural behaviour for human beings. (Kassin, Fein, & Markus, 2008) So, what is stereotyping? Why do we categorize individuals into groups? How do stereotypes form? Are all stereotypes accurate summations of groups? These are some of the questions that are discussed in this essay. The purpose of this essay is to give a clear explanation of stereotyping. There is a discussion of a particular incident of stereotyp ing, and this incident is applied to theories relating to stereotyping. Finally, comments are given on the effectiveness of the theories of stereotyping. â€Å"Stereotyping is a form of pre judgement that is as prevalent in today’s society as it was 2000 years ago. It is a social attitude that has stood the test of time and received much attention by social psychologists and philosophers alike. Many approaches to, or theories of stereotyping have thus been raised. This essay evaluates the cognitive approach that categorisation is an essential cognitive process that inevitably leads to stereotyping. Hamilton (1979) calls this a ‘depressing dilemma’. â€Å" â€Å"The Psychology of Stereotyping David J. Schneider p37† â€Å"Brown’s (1995) definition of stereotyping through prejudice is the ‘holding of derogatory social attitudes or cognitive beliefs, the expression of negative affect, or the display of hostile or discriminatory behaviour towards members of a group on account of their membership to that group’. This definition implies that stereotyping is primarily a group process, through the individuals psyche’s within that group. A further idea of stereotyping, defined by Allport (1954) as ‘thinking ill of others without warrant’, is that people ‘make their mind up’ without any personal  experience. This pre judgement about a whole group is then transferred to the stigmatisation of any individuals in that group. It is these ideas that the essay aims to evaluate, through the cognitive process of categorisation and the above definitions that bring about three distinct features of stereotyping, that our cognition can be demonstrated through.â €  The New Economic Sociology: Developments in an Emerging Field (edited by Maruo F. Guillen, Randall Collins, Paula England p224,225)† Media Stereotypes â€Å"Media stereotypes are inevitable, especially in the advertising, entertainment and news industries, which need as wide an audience as possible to quickly understand information. Stereotypes act like codes that give audiences a quick, common understanding of a person or group of people—usually relating to their class, ethnicity or race, gender, sexual orientation, social role or occupation.† Stereotypes are deeply embedded in every society in numerous ways. The dictionary definition of a stereotype is â€Å"one that is regarded as embodying or conforming to a set image or type.† Stereotyping or Labeling is a technique that â€Å"attempts to arouse prejudices in an audience by labeling the object of the propaganda campaign as something the target audience fears, hates, loathes, or finds undesirable.† These stereotypes become so clichà © that they begin to form daily thoughts and views and one is unable to look beyond them. Racial stereotypes specifically function mostly through propaganda of the media, due to the unlikelihood of every man travelling to every country, using the technique of ‘misinformation’ through movies, shows, and news reports. Egyptians have been stereotyped as desert residents for many years regardless of the reality and actual state of Egypt as a country. For instance, the stereotypes pointing that Egyptians are mostly uneducated due to their ignorance of the importance of education is proven false by studies of trustworthy sources. Among those studies, the one conducted by the American university in Cairo , Egypt . Al-Ahram weekly, a credible newspaper known all across the Arab world, has posted in its October issue of 1998 the following: â€Å"According to Sahar El-Tawila, the principal researcher on the team, interviews conducted with girls and boys nationwide show conclusively that work and marriage were rarely stated by boys and girls respectively as reasons for leaving school. These may be options for those who have already left school, but they are not the impetus behind their decision to leave† (Al-Ahram 1998). â€Å"Remembering Cosmopolitan Egypt: Literature, Culture, and Empire By Deborah Starr page 183† Stereotypes can have excessive damage and it can have a very negative effect on the person in view or as a whole group. Stereotyping is not just another form of making fun of people, it also encourages rejection and outcast. Stereotyping is not only cruel and harmful to people, it can also have major effects on how a person behaves and acts towards other people. It also makes who ever is stereotyping look like a fool. It also forms barriers in communication and everyday life. Conclusion To conclude, the cognitive approach alone does not give us an understanding of stereotyping. However, it does anchor the fact that through our ‘natural’ thought processes we do categorise, which leads to stereotyping. It also highlights the importance of the individual and the group. There are, however, problems that have been overlooked by cognitive psychologists which we need to understand, in order to fully understand the ‘changing dynamics and nature of stereotyping in our society’ (Howitt, et al., 1989). There is also the need to look further than the causes of stereotyping and into its effects in order to understand the processes of our thought, of stereotyping. Bibliography (Al-Ahram 1998). The Psychology of Stereotyping David J. Schneider â€Å"The New Economic Sociology: Developments in an Emerging Field (edited by Maruo F. Guillen, Randall Collins, Paula England p224,225)† Remembering Cosmopolitan Egypt: Literature, Culture, and Empire By Deborah Starr