Management Theories Of Total Quality Management - 834 Words

In a trade association, the members that are served dictate the strategy for how the business operates. This theoretical summary will focus on the management theories of Total Quality Management and Herzberg’s Two-Factor Theory of Motivation and the role that each of these theories play in the success of a trade association. The total quality management (TQM) viewpoint is based on an organizations ability to provide quality services and products, continuous improvement internally and externally, ongoing training and education, and most importantly customer satisfaction. Proper use of TQM results in improved product and service quality, more effective and efficient process design, reduction in the waste of resources, and thus higher productivity. (Yuni, 2013). In an association, customer satisfaction is extremely important and there is great emphasis placed on the quality of work that is produced by the association. Although there are many management strategies TQM embeds awareness of quality in all organizational processes and requires that organizations maintain quality standards in all aspects of the business. (Ross Perry 1999). Dr. W. Edwards Deming, is noted as the man who discovered quality and developed his principles with a focus on the customer and customer satisfaction as a measure of succ ess and achievement. (Gabor, 1992). As customer needs and demands change, the organization has to adapt to those changes. Understanding customer needs and being ableShow MoreRelatedToyota s Theory Of Total Quality Management1500 Words   |  6 Pagesmanufacturers, Toyota has always had a reputation for high quality automobiles at very competitive prices. Toyota’s approach to production is a ‘lean manufacturing system’ or a â€Å"Just-in-Time (JIT) system, which aims at producing vehicles in the fastest and most efficient way possible, in order to deliver vehicles in the fastest possible time. Despite having a very effective production system in place, in 2009 Toyota experienced a crisis in the quality of their cars, which in result caused them to recallRead MoreTotal Quality Management Theory1305 Words   |  6 PagesIntroduction Most organizational management theories descend either from Frederick Taylor’s scientific management theory or from Elton Mayo s human relations model. Total Quality Management (TQM) theory grew out of existing organizational management theories, in part, as a response to the problems in those theories. Edwards Deming and Joseph Juran are most responsible for the development of TQM. Deming and Juran began work on TQM in the 1930s and continued shaping the management model into the 1990s. DuringRead MoreTheory Analysis: Total Quality management2922 Words   |  12 Pageshave difficulties in implementing Total Quality management Approach According to the prestigious management consultant company, Surveys by consulting firms have found that only 20-36% of companies that have undertaken TQM have achieved either significant or even tangible improvements in quality, productivity, competitiveness or financial return. As a result many people are skeptical about TQM. (http://www.j ohnstark.com/fwtqm.html). The total Quality Management Approach works towards achievingRead MorePrinciples Of Total Quality Management1178 Words   |  5 PagesTotal Quality management is a usual practice during and administration approach that began in the 1950s and has consistently turned out to be more general since the mid-1980s. Total quality management places strong recognition on process size and controls as approach of non-stop improvement. TQM is explanation of philosophy, attitude and association of a company that struggles to offer consumers with products and services. The way of life requires in all parts of the organizations operations, withRead MoreDefinition Of Total Quality Management1555 Words   |  7 PagesBusinessDictionary.com defines Total Quality Management (TQM) as a holistic approach to long-term success that views continuous improvement in all aspects of an organization as a process and not as a short-term goal. It aims to radically transform the organization through progressive c hanges in the attitudes, practices, structures, and systems. Total quality management transcends the product quality approach, involves everyone in the organization, and encompasses its every function: administrationRead MoreDifference Between Total Quality Management896 Words   |  4 PagesTable I shows a summary of the various approaches and some of their key characteristics. Despite some differences between Total Quality Management (TQM), the Theory Of Constraints (TOC), Six Sigma and Lean the desired outcome of each methodology is ultimately customer focused. TQM, and Lean trace their origins to the quality evolution in Japan shortly after the Second World War though the concepts within each have developed differently. Many TQM concepts and tools have become integral parts LeanRead MoreCritical Analysis On The Philosophy Of Control1478 Words   |  6 PagesRunning head: APPLY YOUR SKILLS 1 APPLY YOUR SKILLS 2 Apply Your Skills: Case for Critical Analysis Learner Name Kaplan University GM501-01: Management Theories and Practices II Dr. Carrie A. O?Hare February 10, 2016 Five Stars: Critical Analysis on the Philosophy of Control Introduction The new Teacher Evaluation System implemented by the State Department of Education is in question. There are issues with the like lack of accuracy and unfair evaluation practice becauseRead MoreThe Reflection Of The Xyz Organization Is Stagnant As Well As Identifying Key Factors That Keep The Organization1503 Words   |  7 Pagesis felt by those in the room who disagree with this perceived perception. Simply put, not everyone has the same view point when it comes to change. However, our society has clearly fostered a fearful response to the unknown and it is an ongoing management issue in the workplace. This research paper is an attempt to better understand why some processes in the XYZ organization are stagnant as well as identifying key factors that keep the organization from moving forward at all times. More specificallyRead MoreThe Case Of A Complaining Customer - Executive Summary1606 Words   |  7 Pagesmisplaced! The store carry out a thorough search of the store and it becomes apparent that the laundry has been given to another customer by mistake. In relation to the Operations Managers role in addressing this problem, many aspects of service quality definitely are not met and most certainly need to be improved on. The new computer system has been installed to provide easy, convenient and time saving services to customers, however it appears that Presto Cleaners may have caused unnecessary unhappyRead MoreSamsung Electronics Company s Total Quality Management Essay1118 Words   |  5 Pagescompany through looking at total quality management including 4 factors which are lowering  costs(zero  defects), continuous improvement, employee involvement, and customer satisfaction as well. Total quality management (TQM) have played important roles in reinforcing corporate competitiveness within the company. Introduction In today’s global market, competition continues to get harder and it is becoming essential for companies to provide more consistent or better quality products and services to

Nutrition On Sports Can Have A Huge Impact On Your...

P1- Nutrition Nutrition in sports can have a huge impact on your performance over time, which is different from an athlete to the other, an athlete with good nutrition will improve much faster than an athlete with poor nutrition. For an elite athlete to stay at their top performance they must have a good diet, there are many things to be taken into consideration when making a diet make sure your body gets all the right nutrition within the right amount. Having a good balanced diet will need to contain Carbohydrates, Proteins, Fats, Vitamins, Minerals, Fibre and the main thing Water, these are divided into two groups: Macro-nutrients and Micro-nutrients. Macronutrients Macronutrients consists of carbohydrates, proteins and fats which are our main source of energy, fats contain 9 calories per gram, however carbohydrates and protein each containing 4 calories per gram. Carbohydrates are one of the important nutrients in our body which are our main source of energy for all body functions. Carbohydrates are made up of 3 things carbon, hydrogen and oxygen. Which are broken down into glucose that will circulate the body via the bloodstream then will be turned into glycogen when stored in the liver and muscle cells for later use as it provides fast-release energy. This is the easiest form of food transformation into energy. Carbohydrates are also divided into 2 categories, known as either simple or complex. Simple takes shorter time to break down food such as fruits which breaksShow MoreRelatedThe Advantages Of Online Advertising1312 Words   |  6 PagesAdvertisers can weigh creative by best performing, limit daily impressions through frequency caps and have better reach control by the advanced targeting capabilities offered online. (Heindl, 2008) Immediate Response Online advertising enables consumers to take immediate action in response to your message. Your audience is only one click away from the advertiser’s website to learn more about a product, register for information, or even buy. (Heindl, 2008) Proof of Performance Advertisers have the abilityRead MoreWhat Causes Muscle Hypertrophy?1429 Words   |  6 PagesWhat Causes Muscle Hypertrophy? It has been said it is not where you start but where you finish. In the sport of weight training there is no finish. Individuals are constantly striving to get bigger, stronger and faster. All bodybuilders have made an effort to put on muscle mass. However, even individuals who get paid to build muscle as a profession, had to have been small at one point. The question is what causes muscle hypertrophy? The answer†¦ is progressive overload of the muscle. Muscle hypertrophyRead MoreThe Most Important Part Of A Team1338 Words   |  6 PagesThe amount of action happening backstage of a sport is really exhausting. There s multiple steps and knowledge that has to be put in play. Coaches are probably the most important part of a team. They are the ones that lead the team towards the main goal. One may think that winning is the main key to success, but it is definitely not. It takes effort to be in a team but it takes a person with a lot of patience, courage, and understanding to be a coach. Taking various actions like specific skillsRead MoreEffects of Training and Genetics on Elite Athletes Essay1293 Words   |  6 Pagesand drive is what has made the difference, separating the elite from the average. These thoughts are the ones that give rise to the age-old nature vs. nurture debate. Countless hours of studies and research has concluded: it’s both. High performance sports consultant Ross Tucker puts it this way, â€Å"The science of success is about the coming together of dozens, perhaps hundreds of factors† (1). The relationship of such factors, including genetics, types and lengths of training, and environment areRead MoreNetball And Volleyball Has Been Developed Over Many Years2019 Words   |  9 PagesThis essay will look at how Netball and Volleyball have been developed over many years and how athletes prepare themselves to competitively take part in both of these sports. â€Å"Netball traces its roots back to basketball† which was established by James Naismith in 1891 to fulfill the need for a â€Å"high-spirited† game for men. (International netball, n.d.). Female teachers became captivated by this game and a version for girls was established with rules that were adapted to accommodate for social needsRead MoreAbbott Nutrition, Medical Devices, Diagnostics And Pharmaceuticals3380 Words   |  14 Pagessegments: Nutrition, Medical Devices, Diagnostics and Pharmaceuticals. They have sales in more than 150 countries, #1 worldwide in adult nutrition, #1 in the U.S. pediatric nutrition, World’s 1st bioresorbable scaffold, World’s leading mitral valve repair device, #1 in LASIK; #2 in cataract, #2 Pharmaceutical company in India, Top 10 pharmaceutical company in Latin America, #1 in blood screening and leading diagnostics in all platforms. Abbott Nutrition has been the innovator in nutrition categoriesRead MoreExercise For Today s Youth1552 Words   |  7 Pagesof parents, I personally believe that our educational system can also play a very important role in ensuring that teens are getting a reasonable amount of physical activity within the course of the school day. As an adolescent, I personally enjoy being involved in sports which is inclusive of physical activity. The teenage years are important in terms of both mental and physical development, and staying fit during adolescence can have benefits that are both physical and psychological. Good or poorRead MoreIntroduction to Sport, Fitness and Coaching1783 Words   |  8 PagesIntroduction to Sport, fitness and management In this assignment I will be introducing myself and my motivation for enrolling on module E122. Primarily I will be looking at the differences between sport, recreation and physical activity. I will look at how we can define these categories which I will do by looking at examples of each activity and then explaining which category they fall into, as well as demonstrating how these activities can overlap between categories. Furthermore, I will lookRead MoreChild Obesity Paper2748 Words   |  11 PagesObesity is a huge epidemic in America, as more alarming statistics begin to emerge - including estimates that 30% of all adults and as many as one-third of all children in the US are obese. About one in five children in the United States is now overweight! (Child Obesity Facts, 1999, para.2) Childhood obesity has lasting psychological effects, due to parental knowledge, lack of physical activities, and food advertisement; which has made obesity become a major health issue in many young childrensRead MoreRedbull Case Analysis3901 Words   |  16 Pagesinternationalized. * Controversy arose over the rights to use the English slogan in the early 2000s when a patent attorney from Sarajevo claimed that he had patented the slogan for his own purposes back in 1997 in Romania. The slogan is still in use today by Red Bull. II. Core Competencies * Needless to say, the brand has developed an image for power, speed, and recklessness, and dominates the energy drink market all across the globe. * As can be seen in Pricing Strategies, the energy

Fabric manipulation free essay sample

The possibilities for three-dimensional manipulation of fabric gathering, pleating, tucking, shirring, and quilting woven materials are seemingly endless. To describe them all would be to describe the entire history of sewing. In The Art of manipulating Fabric, Colette Wolff has set herself just this task, and she succeeds brilliantly. Working from the simplest possible form a flat piece of cloth and a threaded needle she categorizes all major dimensional techniques, show how they are related, and give examples of variations both traditional and modern. The result is an encyclopedia of techniques that resurface, reshape, restructure and reconstruct fabric. More than 350 diagrams support the extensive how-tos, organized into broad general categories, then specific sub-techniques Handsome photos galleries showcase the breathtaking possibilities in each technique and aid visual understanding by emphasizing the sculptured fabric surface with light and shadow Textile artists and quilters, as well as garment and home decor sewers, will expand their design horizons with the almost limitless effects that can be achieved How To Get Book For Free?download The Art of Manipulating Fabric Full PDF version Read This First: We offer two ways that you can get this book for free, You can choose the way you like! You must provide us your shipping information after you complete the survey. We will write a custom essay sample on Fabric manipulation or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page All books will be shipped from Amazon US or Amazon UK depending on your region! Please share this free experience to your friends on your social network to prove that we really send free books! Tags:The Art of Manipulating Fabric, The Art of Manipulating Fabric By Colette Wolff, The Art of Manipulating Fabric PDF Download Full PDF Version of This Book Free

The Boys Life free essay sample

You know youve read a good book when you turn the last page and feel a little as if you have lost a friend. † This quote by Paul Sweeney describes exactly how I felt after reading and watching Tobias Wolff’s memoir This Boy’s Life. After I closed the book and once the credits started to roll, I felt as if something in my life went missing. I speak for everyone when I say that it’s impossible to walk away from this story without taking something away from it. Audrey Hepburn says that everything she has learned in life, she learned from movies. A quote from Groucho Marx stated that when he read a book, he brought something away from it. Even if he learned a new word or a lesson in life that he could live by, he at least remembered something. After reading a book or watching a movie, there is always something that you can say you did not know before. We will write a custom essay sample on The Boys Life or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page So does the movie and memoir This Boy’s Life have any value? Yes this book does have value, what book doesn’t?. The value of this book and movie can be determined by the lessons it teaches, how people can relate to it, and new learning experience and fun it provides in the English curriculum. Slow and steady wins the race. He that has many friends has no friends. We all become familiar with these lessons but where did we learn them? We learn lessons from parents and grandparents that have passed them down but the most common place we learn valuable life lessons would be from books. Books, both fiction and non-fiction, teach lessons that can help us later on in life. Examples of books that have very valuable life lessons include The Tortoise and the Hare, Horton Hatches the Egg, and many other fables and children’s books. Horton Hatches the Egg teaches that it’s important to keep your promises because faithfulness has its own rewards. Like many other stories, This Boy’s Life has many important lessons in it too. Think before you act would be an example of a life lesson that this book teaches. During this story, Toby does not do much thinking before he acts and it gets him in many sticky situations. During the book and the movie, Toby hangs out with some of his friends from Concrete. While Toby was intoxicated, he thought it would be a good idea to walk across a tree branch. The tree branch suddenly snapped. He fell down and rolled down the hill until he landed in some bushes where his friends could not find him. Toby should have thought about the consequences of drinking before he decided to do it. Another incident, which happens in both the movie and the book, when Toby fails to think before he acts, occurs when he writes the obscene words on the bathroom wall. This got him in serious trouble and could have been avoided if he took a few seconds to think about it. Wolff writes, â€Å"It was 1955 and we were driving from Florida to Utah, to get away from a man my mother was afraid of and to get rich on uranium. We were going to change our luck. †. This demonstrates the lesson if you don’t succeed try and try again. They keep trying different places to live at and people to live with until they finally found somewhere that works for them. They try many different places like Utah, Seattle, and Concrete. As it stated at the end of the movie, Rosemary ended up going back to Florida while Toby went up to New York. This story also taught the lesson that every adult wants to embed in a child’s head, always tell the truth. Throughout the entire story Toby has a hard time telling the truth. An example is when he writes the letters to Annette and Alice. He told them that he was rich and that his father was a rancher or owned a fleet of fishing boats. He also lied to them about his age and where he lived. â€Å"The priest gave me my penance and absolved me. As I left the confessional I heard his own door open and close. Sister James cane forward to meet me again, and we waited together as the priest made his way to where we stood. Breathing hoarsely, he steadied himself against a pillar. He laid his other hand on my shoulder. â€Å"That was fine,† he said. â€Å"Just fine. He gave my shoulders a squeeze. â€Å"You have a fine boy here, Sister James. † She smiled. â€Å"So I do, Father. So I do. . Along with lying to Alice and Annette, he also did not tell the truth to the Father and Sister James. In the book and the movie we witness Jack talking to Sister James. She tells him all of her confessions. When he goes into confess, he tells the Father everythin g that Sister James said and not what he himself wants to confess. Lying to the priest, Sister James, Alice and Annette, and even his mother gave them false impressions which in some cases can make problems even worse. Not only does this memoir and movie have value because of the lessons it teaches but also because of the way people can relate to it. C. S. Lewis once said, â€Å"We read to know we are not alone. † When we read a book, our mind automatically try’s to find ways in which we can relate to a particular event or character in the story. Many people can relate to This Boy’s Life, especially teenagers. During the story Tobias Wolff, or also known as Toby and Jack, is a troubled teenager. He searches for acceptance by doing things like smoking, writing on walls, stealing things and also vandalism. In many of the scenes from the movie we see him smoking with his friends, and in others we see him drinking. Some call this type of behavior peer pressure. Peer pressure happens to everyone one time or another. Toby’s parents got a divorce and Toby ended up living with his mother. Since his father is in another state and he doesn’t have that much contact with him Toby misses a big part of his family. Many kids who don’t have a father or their parents have had a divorce can relate to Toby. During the movie and the book, Toby and his mother move around a lot. They have lived in many different states and in different houses. Many families move to either different cities or states because of jobs or sometimes family. So anyone who has moved, even just down the street, can relate to this part of the story. â€Å"At the end of every show the local station gave an address for Mousketeer Mail. I had been writing Annette. †. Every kid has or has had a crush on a TV show or movie character and most of us have probably written to them in hopes for a response just like Toby did. When writing to Alice and Annette, he lies about his life. He makes his life seem very extravagant and amazing. Many people lie to others to make their life or their experiences seem more enjoyable and exciting to listen to. The value of the memoir and movie can also be determined by the variety and the new learning experience it provides in the English classroom. When I walk into the room and my teacher says that we will be reading a book all I think to myself, â€Å"really another one † but this experience was anything but ordinary. After the book was over, I thought that we finished completely. Mrs. Harshman told us that we would be watching the movie that went along with the book. Watching a film after reading the book was like learning to ride a bike all over again. It became a great learning experience for both my classmates and I. It cleared up parts of the book that I may have been uncertain about and made the picture in my head more clear. For example, in one part of the movie Dwight and Toby drive up to Concrete and along the way Dwight stops at a tavern. Dwight drives drunk and swerves all over the road, which scares Toby. When I read this part of the book I did not know that Dwight was drunk at the time, I just thought he tried to scare Toby. When I saw the movie, it cleared this part of the book up for me. When we watched the movie it also gave us a chance to compare which one in our opinion was better. Along with that, we also found which parts of the book the director left out and let us brainstorm why we thought he left out those parts. By doing this, it helped us to walk in another person’s shoes because we had to think like directors. For instance, on page three and four, Wolff writes, â€Å"By the time we got there, quite a few people were standing along the cliff where the truck went over. It had smashed through the guardrails and fallen hundreds of feet through empty space to the river below, where it lay on its back among the boulders. It looked pitifully small. A stream of thick black smoke rose from the cab, feathering out the wind. My mother asked whether anyone had gone to report the accident. Someone had. We stood with the others at the cliff’s edge. Nobody spoke. My mother put her arm around my shoulder. †. On page three through four, Toby and his mother begin driving to Utah when they come across a car crash. The director did not include this part of the book in the movie. We all believed because he did not add it because it foreshadowed Toby and Rosemary’s future. Wolff writes, â€Å"Like chess or music, coolness claimed its own out of some mysterious impulse of recognition. Uncoolness did likewise. We had been claimed by uncoolness. †. This quote came from the section of the book where Toby and Silver stood front of the mirror with their hair combed back, cigarettes dangling out of their mouth, and their pants pulled down on their hips. Like the car crash scene, the director did not include this section of the book in the movie. Instead, the movie went straight to the scene where Toby, Silver and Taylor are watching Mickey Mouse Clubhouse. As the credits started to roll and the book closed, the whispers started to roar. From every direction you could hear opinions of the movie and the book. Whether the movie and the book were good or not is merely an opinion but whether the book has value or not can be answered with a simple yes. The value of the film and memoir This Boy’s Life can be determined by the lessons that it teaches, the ability to relate to the book, and the new learning experience and fun it puts into the English classroom.

Free Essays on All The Kings Men

ALL THE KINGS MEN All the Kings Men is a story of the rise and fall of politically challenged man in the South. This story takes place around the 1930’s, and the narrator is a man who is named Jack Burden. Jack Burden probably would not be considered the main character, but he is the main character’s right hand man. Jack Burden is a really smart guy who does most of the work in the office, while Willie Stark is rising from poverty to become a governor of his state. Willie Stark is the main character, and he plays a very demanding, and somewhat ferocious role. Willie Stark isn’t the smartest of them all, so he hired Jack Burden, and after doing so, he was able to blackmail his enemies and make a huge series of liberal reforms that are made to tax thee rich and ease the harshness of the state’s poor farmers. Willie Stark is usually good on defeating his nemesis, one of which is named Sam MacMurfee, who was a defeated governor, and he always wants to be like Willie Stark . Jack also has a family of the states government, who turns his back on his so called aristocratic dynasties, and becomes Willie Stark’s partner, or right hand man. Willie and his partner Jack are like two very sneaky scammers who usually try to blackmail their enemies. One day, Willie asked Jack to look for skeletons in a closet of Judge Irwin, and Jack is forced to say his ideas concerning the consequences, responsibilities, and motivations. Judge Irwin was the man who took bribes from Adam Stanton, and Jack somehow finds out that Judge Irwin took a few bribes before, and that the old Governor, Stanton, covered it up, which most likely made Judge Irwin kill himself. This then makes Governor Stanton accept the position of director of a new hospital that Willie is building. A couple days later, Anne decides to have an affair with Willie while she is married to Stanton, and after Stanton hears about this situation, he murders Willie in a rage, and ... Free Essays on All The Kings Men Free Essays on All The Kings Men ALL THE KINGS MEN All the Kings Men is a story of the rise and fall of politically challenged man in the South. This story takes place around the 1930’s, and the narrator is a man who is named Jack Burden. Jack Burden probably would not be considered the main character, but he is the main character’s right hand man. Jack Burden is a really smart guy who does most of the work in the office, while Willie Stark is rising from poverty to become a governor of his state. Willie Stark is the main character, and he plays a very demanding, and somewhat ferocious role. Willie Stark isn’t the smartest of them all, so he hired Jack Burden, and after doing so, he was able to blackmail his enemies and make a huge series of liberal reforms that are made to tax thee rich and ease the harshness of the state’s poor farmers. Willie Stark is usually good on defeating his nemesis, one of which is named Sam MacMurfee, who was a defeated governor, and he always wants to be like Willie Star k. Jack also has a family of the states government, who turns his back on his so called aristocratic dynasties, and becomes Willie Stark’s partner, or right hand man. Willie and his partner Jack are like two very sneaky scammers who usually try to blackmail their enemies. One day, Willie asked Jack to look for skeletons in a closet of Judge Irwin, and Jack is forced to say his ideas concerning the consequences, responsibilities, and motivations. Judge Irwin was the man who took bribes from Adam Stanton, and Jack somehow finds out that Judge Irwin took a few bribes before, and that the old Governor, Stanton, covered it up, which most likely made Judge Irwin kill himself. This then makes Governor Stanton accept the position of director of a new hospital that Willie is building. A couple days later, Anne decides to have an affair with Willie while she is married to Stanton, and after Stanton hears about this situation, he murders Willie in a rage, and ... Free Essays on All The Kings Men Ellison 1 Growing up in the American South during the 1920's and 30's one is steeped in the history of Southern gallantry and honor, the â€Å"Glorious Cause† of the Civil War, agrarian life and politics. Such was the early life of Robert Penn Warren, born April 24, 1905 in Guthrie, Kentucky. He spent his youth on his family’s tobacco farm listening to the stories of his grandfathers who had both served with the Confederate Army only a half-century before. Warren dreamed of a military life and was later granted an appointment to the U.S. Naval Academy. However, in the Summer of 1920, he was blinded in one eye by a stone thrown by his brother, Thomas. Later in life Warren would comment on his misfortune, â€Å" I felt a kind of shame,~ shame is not the word, but disqualification for life...some sense of being maimed.† That accident, however, changed the course of his life as Warren enrolled in Vanderbilt University to study engineering. He quickly became friends with a group of young writers who published a college magazine called The Fugitive. Soon after Warren tried his own hand at writing and saw his work published. The literary seed had been sown. Warren attended graduate school at both the University of California and Yale University. In 1928 he left the U.S. bound for Oxford University as a Rhodes Scholar. There was a disdain at the time for classic literature and more importantly its interpretation. In response to the old critics, Warren began experimenting with a new style using both irony and paradoxes. Later this style would become his trademark, along with his strong sense of history. On his return to the U.S. with a degree in English Literature, Warren taught at Southwestern College in Memphis before receiving an invitation from Vanderbilt University in 1931. By 1934 he had taken a position at ...

5 Strategies for Private School Admissions Test Prep

5 Strategies for Private School Admissions Test Prep Most private schools require applicants to take a standardized test as part of the admission process. Essentially what the schools are trying to determine is how prepared you are for the academic work that they want you to be able to do. The most commonly used tests in independent schools are the SSAT and the ISEE, but ther are others that you may encounter. For example, Catholic schools use HSPTs and COOPs which are similar in content and purpose. If you think of the SSAT and ISEE like the college level SAT or its preparatory test, the PSAT, then you get the idea. The tests are organized in several sections, each designed to assess a specific skill set and knowledge level. Here are several tips to help you best prepare for this important exam. 1. Start Test Prep Early Begin final preparation for your admissions test in the spring for testing in the following fall. While these standardized tests measure what you have learned over the course of many years, you should begin working some practice tests in the spring and summer before you actually take the real thing in the late fall. There are several test prep books that you can consult.  Want some study tips? Check out this blog for some SSAT test prep strategies. 2. Dont Cram Last minute cramming is not going to be very productive when it comes to learning material you should have been learning over several years. The SSAT is designed to test what you have learned over time at school. Its not designed so that you have to learn new material, just master the material you have been learning in school. Instead of cramming, you might consider working hard in school and then during the last few weeks before the test, concentrate on three areas: know what is expectedtake practice testsreview subject material 3. Know the Test Format Knowing what is expected when you step through the door to the testing room is just as important as taking practice tests. Memorize the format of the test. Know what material will be covered. Learn all the variations in the way a question can be presented or worded. Think like the examiner. Paying attention to details like how youll take the exam and how it is scored can help you excel overall. Want more test prep strategies? Check out this blog on how to prepare for the SSAT and ISEE. 4. Practice Taking practice tests is critical to your success in these standardized tests. You have a certain number of questions which must be answered within a fixed time. So you must work to beat the clock. The best way to perfect your skills is to actually try to duplicate the test environment. Try to match the test conditions as closely as possible. Set aside a Saturday morning to work a practice test to the clock. Make sure that you do the practice test in a quiet room and have a parent present you the exam, just as if you were in the actual testing room. Imagine yourself in the room with dozens of your classmates taking the same test. No cell phone, snacks, iPod or TV. If you are really serious about honing your timing skills, you should repeat this exercise at least twice. 5. Review Reviewing subject material means exactly that. If you have pursued your studies in an organized manner, that  means pulling out those notes from a year ago and going over them carefully. Note what you didnt understand. Practice what you werent sure of by writing it out. Thats a common test prep strategy, writing things out, because for many people, this strategy will help them remember things better. As you practice and review, make a note of where you excel and where you need assistance, and then get help in the areas where you have deficiencies. If you plan to take the tests next year, understand the material now so that you can nail them. Dont put off thorough test preparation. Remember: you cannot cram for these tests. Article edited by  Stacy Jagodowski

Cellular Phone Usage While Operating Motor Vehicle Essay - 1

Cellular Phone Usage While Operating Motor Vehicle - Essay Example as per a study published by the National Highway Traffic Safety Administration (NHTSA) (Utter, 2001 cited by Tseng, Nguyen, Liebowitz, & Agresti, 2005). The use of cellular phones while driving has been established as the major cause of driver inattention. The Harvard Center for Risk Analysis found that use of cell phones while driving caused 330,000 moderate to severe injuries and approximately 2,600 deaths each year (Sundeen, 2003 cited by Tseng et al., 2005). At the same time, according to Brookhuis, de Vries, & de Waard (1991), while talking on the cell phone drivers demonstrated decreased lane deviations (cited by Horrey & Wickens, 2004). Despite these inconsistencies, a total ban of cellular phone usage while operating a motor vehicle may drastically reduce road accidents. Driver distraction can be classified into two types (internal distraction and external stimuli) and four categories – visual, cognitive, auditory and biomechanical distraction. Of these, auditory distraction is associated with cell phone usage (Tseng et al., 2005). This is more likely in case of hand-held phones but other studies demonstrate that primary cause of inattention is cognitive, which implies that even hands-free phones are equally dangerous (Horrey & Wickens). Several studies have been conducted and on an average, it has been found that drivers talking on the mobile phones while driving have higher risks in car accidents compared to non-mobile phone users (Laberge-Nadeau et al., 2003; Wilson et al., 2003; Redelmeier and Tibshirani, 1997; Strayer and Drews, 2004 cited Tseng et al.). Use of mobile phones while driving increases the risk of collisions by four times, which is also confirmed by Redelmeier and Tibshirani (1997). In addition, frequent mobile phone users had relatively higher risk than rare-users. Being engaged on the cell phone while driving, is definitely more risky than listening to the radio or talking to other passengers while driving. Horrey & Wickens,

Correction Debate Essay Example | Topics and Well Written Essays - 1000 words

Correction Debate - Essay Example However, segregating them causes other inmates to ostracize them. When segregated, they will have a very small group of inmates to interact with and this changes their socializing; this may be more devastating to some inmates than the disease. Other people may feel that because they are inmates they have no right but in reality, they do. One of the rights they have is to be treated fairly. A special ward for HIV inmates would make them susceptible to mistreatment from guards. In most cases, isolation is reserved for those people who are a threat to themselves or others. It could be argued that they are a threat to the rest of prison society because they are HIV positive but this would have to be done in a way that showed they were treated as fairly as other inmates. Conjugal visits are one way to give inmates an opportunity to stay in touch with their spouses or significant others but I disagree that it would aid in effective rehabilitation. Many researchers think that providing conjugal visits is like giving inmates a hotel room and it dos not give them a sense of being in jail. I think that it is a good thing for them to do because sexual frustration can build and can cause inmates to take out this tension on other inmates. The readings suggest that conjugal visits provide a way to stay in touch with their families. I suggest that there are many variables I prison that are stronger than conjugal visits and that some families are not very strong. This means that some inmates would get conjugal visits while others would be denied either because family members are not visiting them or because of their behavior. Conjugal visits are sometimes once a month and some inmates have better behavior if they have been able to have sex with their partners but this is not always the case. If families were already close this could help them stay close, but if they were not close a

The Color of Water Essay Example for Free

The Color of Water Essay The Color of Water by James McBride was a story about a young boy trying to figure out his racial identity but his mother would not talk about her past or what race she was. All James knew was that she was white living in a black power neighborhood and that fact terrified him. He thought that to grow up he had to know his racial identity but through all the trouble and hard times he went through he learned that his race did not matter. It was his education that was the most important. Ruth attitude about her race effected James through his childhood and as a young adult, she negatively affected his racial development, and Ruth eventually clears up his questions that he has been dying to get answers from. Ruth McBride’s attitude toward her own race affected her son, James McBride, as both a child and as a young adult. Ruth mainly looked down on her race because of her father. All he care about was money and the store, he did not care about his own wife or family. He also molested Ruth when she was a young girl. When James was a young boy he always questioned her about race. He wanted to know if he was black or white and he also asked what color Jesus was. James mother would not completely answer his question. She responded saying that James was a human and education was all that mattered, and that Jesus was the color of water. As a kid, James knew that his mother was white, and that terrified him. He knew that a white lady living in a black neighborhood, also with black kids, was living in danger. James really realized his mother’s danger when Ruth and James were walking home and a man came up and stole Ruth’s purse. James figured out how strong and brave or crazy his mother was when she did not fight the theft back and all she told James was that it was just a purse and it did not matter. When James grew up, he thought that Ruth was going crazy, and he didn’t respect her like he did in the past. If James would have known about his mother’s past, it wouldn’t have change much. He might have been more apologetic for her but that would be about it. Ruth’s impact on James’s racial development is negative, but she had good intentions. James never knows what his racial background is and that bothers him throughout his life. If he would have known what his mother’s background was maybe then he would understand himself in his eyes, but it does not take your race to figure out yourself, it takes learning who you are on the inside. Ruth was trying to make it a positive impact on his racial development. Ruth knew that race did not matter, it was about what was on the inside of the person, but James did not understand that concept. Race never concerned him by saying he was not going to associate himself with a person because of their background but he want to know about their race, and Ruth had no cares about their race, which is a better way to go at it. Ruth offers James confusion as he grapples with his racial identity as a younger boy, but she offers him clarity as a young adult. When James was young, Ruth would answer any of her questions and that bothered him but he knew not to push her to her limit or he would get the belt. He does not know what half of his race is, he know he was black from his father but knew nothing about his mother’s race. Ruth was not ashamed to be a Jew, but she did not support Judaism because of her father, Tateh. She was not hiding the fact that she was a Jew from James but she did not want to think about everything that she ran away from when she left Suffolk, Virginia and her family, more importantly her mother, Hudis Shilksy. When James turns into the young adult he finds out that knowing your race does not help you in life like a good education does. Even though he has learned this Ruth starts to explain his questions about race to him. In the story The Color of Water, James has unanswered questions as a child. At the end of the book James learns about Ruth’s race and he finds out his racial identity. James also finds out God’s color, He is the color of water and water is neither, black or white. Ruth had harmful memories when she was a Jew because of her father and when he might her first husband, Dennis, she changed her faith and found happiness. Ruth’s race affected Ruth which later on affected her son James negatively. Her angry about her past led to James’s confusion about his own racial identity, but later on got all his questions answered.

The Hale Bopp Comet :: essays research papers

The Hale Bopp Comet As I am sure all of you know, we have recently been able to see a new but not permanent additon to the night sky. This addition is known as Hale-Bopp, a comet that is about 122 million miles (about 1.3 times the distance of the sun to the earth) from the earth and is approximately 25 miles wide. Hale-Bopp was discovered on July 23,1995 by two scientists named Alan Hale in New Mexico and Thomas Bopp in Arizona. This is the first discovery for both of them, although Alan Hale is one of the top visual comet observers in the world, having seen about 200 comet apparitions. That is one of the reasons they put his name first. Alan Hale comments, "I love the irony -- I've spent over 400 hours of my life looking for comets, and haven't found anything, and now, suddenly, when I'm not looking for one, I get one dumped in my lap. I had obtained an observation of P/Clark earlier, and needed to wait an hour or so before P/d'Arrest got high enough to look at, and was just passing the time til then, and I decided to look at some deep-sky objects in Sagittarius. When I turned to M70, I saw a fuzzy object in the same field, and almost immediately suspected a comet, since I had been looking at M70 last month, and *knew* there wasn't any other objects there." Thomas Bopp explains his story like this, "On the night of July 22, 1995 some friends and I headed out into the desert for a dark of the moon observing session. The site, which is west of Stanfield, AZ and a few mile south of Interstate 8 is about 90 miles southwest from my home. My friend Jim Stevens had brought his 17-1/2" Dobsonian. We started the evening observing some of the Messier objects such as the Veil and North American Nebulae in Cygnus, when Jim said " Let's look at some of the globulars in Sagittarius." We started our tour with M22 and M28, observing at 50X and then at 180X. Around 11:00 local time, we had M-70 in the field when Jim went to the charts to determine the next object of investigation. I continued watching M-70 slowly drift across the field, when it reached a point 3/4 of the way across a slight glow appeared on the eastern edge. I repositioned the scope to center on the new object but was unable to resolve it. I called to Jim and asked him if he knew what it might be, after a visual inspection he stated he wasn't familiar

Leader and Manager Essay

Q, Explain how someone can be a manager but not a leader, a leader but not a manager, and both a manager and a leader? Answer: The discussion between management and leadership has been considerable for a number of years. Differentiation between leadership and management is important. There is difference between manager and leader but both are important. Manger has to manage which means to accomplish and to bring about, to conduct and to feel the responsibility. On the other hand, Leader leads by guiding, and influencing in a course, direction, opinion, and action. The distinction between them is crucial (Warren Bennis 2000). In the light of this explanation we shall discuss how someone can become manager but not a leader, a leader but not a manger and both a manager and a leader? Manager but not a Leader: The term of manager is not the same for leader since the two terms are not the same. A manager must ensure the appropriate delivery of human resources and funding to meet the routine daily productivity objectives. The manager is known as detailed oriented. Mangers don not see the overall picture and are less interested regarding the long-term corporate goals and mission. They are worried about details; as a result, they do not make them a good leader. Some managers may have certain leadership qualities but they remain too focused on their daily operations and are unable to provide direction and vision to the organization. A manager plans, organizes, leads, and controls whereas a leader influence others through communication, motivation, discipline, direction and dynamics (William A. Howatt, 2008). This explanation clears that someone can be a manager but not a leader. Leader but not a Manager: People who direct, guide and coordinate a group towards an objective and a goal are known as leaders. A leader motivates subordinates to achieve the goals set by the company. Leader shows the ways and lead the ways by example and exhibit an evident commitment to set goals, motivates subordinates for achievements. Leadership qualities are inbuilt qualities and these are further developed though education and experience with certain qualities such as beliefs, values, skills, ethics and knowledge (Snell, 2008). On the other hand, the manager directs predetermined projects and goals. Managers are also involved in the hiring, scheduling and training of the employees to complete the work with efficiency and cost effectiveness. A leader is not involved in such activities; therefore, a person can be a leader but not a manager. Both a Manager and a Leader:

Conflict Negotiation Scenario

?Running head: CONFLICT NEGOTIATION SCENARIO Conflict Negotiation Scenario University of Phoenix HCS587 Conflict Negotiation Scenario TradeStation Securities is an online brokerage company where I was employed as the Client Service Director in charge of the Florida and Chicago Client Service Associates which, totaled 90 employees. Due to the strict rules and regulations of the Financial Industry Regulatory Authority (FINRA) any employee handling brokerage accounts for customers must have their securities license known as the Series 7. When I was hired in January 2008, my contract included that within the first year of employment I needed to study and obtain this license. I also was in charge of ensuring that each employee within the Client Service Department obtained their licenses as well. My department was extremely unorganized and there were no procedures in place for the employees. My first task was to create a flow chart of the Client Service procedures and how they were linked to providing excellent customer service. I linked the procedures and showed how the procedures were linked to other departments of the company. I presented my chart at the first weekly management meeting and received approval from all department managers that were involved. Everything was going as planned until a scandal between the sales department and a client changed everything. The President of my department was also the President of the Sales Department as well and due to the issue with the sales department he was asked to resign. The Vice President of the company took over both departments until a replacement was found. I met with the Vice President and discussed with him the plan I created and how the implementation was progressing. He was concerned that I was hired without my licenses and expressed to me the importance of obtaining them. I discussed with him my contract and explained to him that I was about two weeks away from being prepared to take the exam. My motivation to succeed was noticeable and at that time I felt he knew that I was dedicated to making my department successful which would be shown by the customer service provided to our clients. I started to notice that I was not being included in important management meetings. I made an appointment to speak with the Vice President to discuss my concerns and the reasons for not being included. At that time, he explained that he was placing another director within the company as director of my department. He explained that I should not have been hired since I didn't not have my securities license and stated that this individual was going to assist me with running the department until I passed the exam. I was taken back because he never discussed this with me previously and I felt that he was attempting to push me out of the department and the company. His behavior demonstrated towards me was unprofessional and came across as cold. My employees noticed that something was transpiring and continued to ask me if something was going. I met with each employee and communicated that change would always occur but the changes were going to be effective and they needed to continue to excel in their position. I started to notice that my employees started to slip with their performance because of the negative communication that was occurring throughout the department. I decided to escalate the issue to the President of the Company. The President was well aware of my employment with his company as well as the action plan I created for my department. He was empathetic of the situation and decided to have a meeting with the Vice President and myself. I knew at this point the Vice President was going to be extremely upset because I went above his head on the situation. After a two hour meeting, the situation was under control and I felt at ease knowing that I had the President of the company agreeing with my employment and the positive changes I have made and continued to make daily with the department. I knew the Vice President was upset so I decided to give him a week to digest the situation and I made an appointment to speak with him. I expressed my loyalty to him and the company and went over my plans again ith him and asked him for his thoughts on the changes I wanted to make. I took the â€Å"team† approach when speaking with him to try and get him to see that I wanted to improve the department which would improve the overall customer satisfaction and the success of the company. He expressed his determination to continue to make the changes that he first discussed with me that didn't include me in the picture. I told him I was unfortunate to hear that he was not going to be a team player and that I expressed that I was going to continue the work that I was hired for. At that time, he also expressed that he would continue to work towards his plan. Over the next couple of weeks, I continued to make the improvements with the policies and procedures in the department even though a new director had been placed in my department. I felt like I was in a battle and saw that the employees were being affected as well as my clients due to the confusion. I asked for another meeting but this time not only with the President and Vice President. I also included the board members, the HR department manager and the legal counsel for the company. During the meeting I started from the beginning walking all of them through the timeline and the flow chart and the disruptions that had been preventing the success. All the board members, the President, the legal counsel and the HR Manager agreed that I was on the right path. The final decision was for me to continue handling my department and my department would be overseen by the President instead of the Vice President of the company. A month later, the Vice President resigned from the company because his future for the company was not aligned with the President and Board Members path.

Exercise and Physical Activity Essay

Exercise and Physical Activity Essay Exercise and Physical Activity Essay Consumer Fitness Workout Log You will need to document six hours (or 360 minutes) to include a variety of physical activity. A variety of physical activity can be defined as a minimum of three different activities. Students are expected to log activities multiple times per week for each week enrolled in the HOPE course. You cannot complete and receive credit for HOPE course if you do not complete each of the topic workout logs. Please save this document to your computer. (You will need to add the necessary rows to the table below until you have a total of 360 minutes of physical activity.) Make sure you complete the entire Workout log, including the Reflections and the Fitness Test Comparisons. Student Name: Toni Randall As you complete your physical activities in this topic, you will be â€Å"field testing† a product of your choice and reflecting upon whether or not this product actually helped you to achieve the goal you thought that it would. (Note: Field testing products should not include products such as diet pills, vitamin water, or other ingested substances without the direct supervision of your physician.) Please define a measurable physical activity goal related to a specific area of fitness you think this product will improve that relates to improving your performance in a specific activity. Goal: I aspire to _do better in my workouts________________________________ no later than ____oct 6________. (worth 20 points) Examples: I aspire to drink at least 20 ounces of water from my XYZ Water Bottle during each of my workouts no later than May 20th, 2009. I believe that my XYZ Water Bottle will help me stay better hydrated during my workouts. †¨ Date Warm-up Physical Activity Intensity (Light, Medium, or High) Cool-Down Minutes 4/22/09 Walking Jogging Medium Quadriceps, hamstring, and calf stretches 50 9/12/13 Stretching safely Running High Calf 10 9/14/13 Jump jacks cheering Light butterflies 40 9/16/13 squats basketball High jogging 70 9/18/13 running walking Light Sit ups 30 9/19/13 Push -ups Lifting weights Medium planks 25

Grounded and Ten Other Idioms with Ground

Grounded and Ten Other Idioms with Ground Grounded and Ten Other Idioms with Ground Grounded and Ten Other Idioms with Ground By Maeve Maddox When I was still young enough to be under parental supervision, if I did something ill-considered, I was not â€Å"grounded†; I â€Å"lost privileges.† The use of grounded to mean â€Å"confined to home outside school hours† had not yet penetrated to our neck of the woods. I was familiar with grounded in connection with electricity and flying: grounded adjective: electrically connected with the ground, either directly or through another conductor. grounded adjective: of an airplane or pilot, unable, or not allowed to fly. For example, a pilot might be grounded because of illness. A plane might be grounded by reason of bad weather. In the 1940s, the word grounded acquired the general sense of suspended or disqualified. For example, a truck driver whose license had been revoked was said to be â€Å"grounded,† as was a jockey who had been suspended from riding. It was not a leap to apply the use of grounded to a teenager whose driving privileges had been revoked. Nowadays, even young children are said to be grounded when they have privileges denied as the result of misbehavior unconnected with using a vehicle. The noun ground is from a Germanic source meaning earth. Literally and figuratively, ground represents the basis or bottom of something. A ship in shallow water may strike ground. The plural, grounds, denotes the premise or reason on which something rests. For example, â€Å"grounds for divorce, â€Å"objections on religious grounds.† Ground occurs in numerous idioms. Here are just ten. ground rules: the basic rules or principles. For example, â€Å"Establishing the classroom  ground rules  on the first day can provide year-long benefits for your challenging students.†Ã‚   groundswell: a long, deep rolling of the sea caused by a disturbance, possibly originating at the bottom. Figuratively, a ground swell is strong public opinion that seems to be rising from somewhere and becoming stronger. For example, â€Å"Whether New York businessman Donald Trump is serious about running for president or just serious about getting publicity, his groundswell of support in recent weeks is hard to ignore.† ground zero: This expression stems from nuclear testing. â€Å"Ground zero† was the point on the earth’s surface either at or immediately above or below the center of a nuclear explosion. Now it can mean the center of any cataclysmic blast, such as the site of the World Trade Center that was destroyed in 2001. The expression is also used figuratively, as in this reference: â€Å"The Interview - the Hollywood movie that became ground zero in the extortionate cyber attack that U.S. authorities are now blaming on North Korea.†Ã‚   To break new ground: to do something that has never been done before, like a settler digging a foundation for a home in the wilderness. â€Å"Anomalisa filmmakers break new ground with stop-motion drama.† To cut the ground from under someone’s feet: in a debate, to disprove all possible arguments before they can be made by one’s adversary; to leave someone at a loss as to what to do. â€Å"Depression  cuts the ground from under  ones  feet!†Ã‚   To get in on the ground floor: to be involved at the beginning of an enterprise, especially in anticipation of profiting greatly. â€Å"If you are hoping to get in on the ground floor of Maryland’s medical cannabis program, you should not underestimate the importance of this very short comment period.†Ã‚   To put one’s ear to the ground: be on the alert for possible developments on a topic of interest. â€Å"It is not a secret among those who  keep their ears to the ground  in matters political in Michigan that Commissioner Mershon, of the state tax commission,  intends to resign as soon as the new administration takes office.† To go to ground: to make oneself inaccessible for a time, like an animal holing up in its lair. For example, â€Å"Similarly, a proportion of  fugitives  had  gone to ground  because they knew some of their Francoist neighbours were working in tandem with the authorities.†Ã‚   To get off the ground: to begin a project; begin to show success. This newspaper headline plays on both the literal and figurative meanings of â€Å"to get off the ground†: â€Å"In Chicago, rooftop farming is getting off the ground.† To hold one’s ground: to maintain one’s position in the face of opposition or attack. â€Å"A workplace bully may try to verbally pound you into submission. If he insists on getting his way, hold your ground.† Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Expressions category, check our popular posts, or choose a related post below:70 Idioms with HeartDoes "Mr" Take a Period?Uses of the Past Participle

BMW Mini(Case Study) Coursework Example | Topics and Well Written Essays - 2000 words

BMW Mini(Case Study) - Coursework Example Research has shown that the most efficient the operational management of the firm, the more industrious and productive a firm becomes. This report aims at analyzing the operations of the final assembly line at the Mini Oxford Plant at Cowley, and this will be achieved through evaluation of the applicability of various operational management theories and the managerial approaches used in the firm. Being an international organization, Mimi Oxford Plant needs to have defined operational processes and managerial strategies that enable organizations in meeting the needs of the targeted groups. To arrive at an evidence-based conclusion regarding the operations at the firm, various themes will be integrated to explain some theories that are significant in understanding the operational process of the organization. The delivery lead time will be assessed in the report, and this will allow for concrete conclusions and recommendations to be fostered to aid in the improvement of the operational processes of the firm. The recommendations made are based on the strengths, weaknesses, threats and opportunities realized in the comp any with a focus on enhancing the performance of the firm. Mini Oxford Plant is owned and managed by the BMW that is a UK based Manufacturing Limited, and the major activities involved are manufacture of motor vehicle and motor spares. It is part of the Plant Hams Hall which is responsible for the production of engines, and Plant Swindon that is responsible for body pressing and where sub-assemblies are constructed. There are various models that are produced by the firm, and these are with inclusion of Morris Marina, Austin Ambassador and Austin Maxi among other models like Rover 75. The quality of the motors manufactured by the industry is great, contributing to its consideration as one of the most recognized motor manufacturing companies in the automobile industry along Toyota Company

Gap Inc Essay Example | Topics and Well Written Essays - 1750 words

Gap Inc - Essay Example Thirty-seven years ago, Gap Inc. started its humble beginnings with big dreams that spun into a golden international retail enterprise of highly-respected apparel lines. From a handful of employees at its historic California home, Gap Inc. has now hired over 160,000 employees all over the world that support the brand names it carries. With more than 4,250 stores, Gap Inc. boasts of its worldwide lead as a retailer for clothing, accessories and personal care products under the brand names of Gap, Banana Republic and Old Navy. By the year 21st century the complexity of the fashion industry has acknowledged the changing moods of dressing. Dressing down according to Kelly and Silverstein (2005) became an acceptable norm for the society whose rules for dressing became relaxed and interest in fashion waned. With home-based jobs sprouting people saw no need to buy fashionable clothes. Ordinary retail and clothing sales saw a disappointing decline as the millennium ushered in comfort dressin g. Gap Inc., whose target clients are teens and the middle market with its basic style should see a logical push compared to Banana Republic's affluent clientele and Old Navy's fashionable yet bargain minded customers.Gap Inc. however, suffered tremendous drawbacks against its gracious fashion profit enjoyment of the 90's that Brady attributed to its electronic retailing in 1997, as prevailing modes of expression sank the sales of summer 2001. Hea revealed how store sales showed a 12% dip compared to the previous year. Given the sales shortfall, shares of stocks remained on the defensive that Hea positively believed could pick up during the fall months. However August and September saw weak store traffic owing to the lack of buyers' enthusiasm for its apparel lines. The Old Navy division suffered the highest setback with the biggest sales drop that then CEO Millard Drexler acknowledged as its priority, "the need to find the right balance between key items and fashion". In its numero us attempts to survive the fashion crash, Drexler was later replaced in 2002 according to Brady(2003) that has brought in bolder colors that certainly help cut the inventory, squeezed out costs and helped Gap triple its earnings and stocks rose to more then $18 per share. The GAP strategies By redesigning a "look" to fit in with the season and the environment, Gap's strategies included highly focused surveys and research on consumer needs and fashion trends that high-lighted classifying its clientele from the "style-conscious, updated and classic" individuals according to Brady(2003). Gap, has also adapted the different mixes provided by Levy and Weitz (2004, Ch.2) that retailing systems should carefully observe with strong emphasis on the merchandise. According to them, much focus on its products centered on the ability to recognize versatility in style, assortment and variety without sacrificing its quality. Fit being an important factor in the clothing apparel line, assumed that its predictability should announce its availability that consumer research brings into its designs for must-have clothes. Although the millennium trend was to dress down and simplify, the smugness brought by the old Gap designs were too obtainable with other cheaper competition. A variety of choices for the shopper in style and a wider array of color definitely zeroed in the buying spree. Gap's predictability in the 1990's saw a gradual yet significant progress that has seen improvement on its credit rating and debt reduction in the 3rd quarter of 2003. Webb then announced its CEO Paul Pressler's move to repurchase its common stocks. Price Adjustment according to the law of supply and demand hammers specific changes to maximize profit and minimize markdowns according to Chorafas (2002). Prices change but are highly capricious in trying to match the demand. Gap, has however attached a stigma to dynamic pricing that the fashion industry equates with consumers flocking stores only

Theories of juvenile deliquency Assignment Example | Topics and Well Written Essays - 250 words

Theories of juvenile deliquency - Assignment Example In order to belong, youths have the ideology that they have to be rich and famous. Economically underprivileged adolescents may be pressured to obtain money in unlawful ways, such as stealing and the like. The thinking of the youth today must be transformed and they should be made aware that they have to be critical in choosing their peers. Another theory is that of Albert Bandura. His theory is known as the â€Å"Social Learning Theory†. Bandura points to the environment as the cause of possible criminal acts committed by the youth. He reasoned that the adolescent observes his environment and tries to imitate what he sees. In this specific theory, family, peers, and media can directly influence the behavior of the youth (Kartha, 2010). The picture on the right suggests the effect of media on today’s youth. Juveniles are usually in want of entertainment and their common sources of this are the television and the internet. Viewing shows that can either directly or indire ctly promote violence can affect the mind of the viewing minor. Without authoritative parental guidance, he might be led to thinking that what he views is acceptable by society. To reduce cases of juvenile delinquency, parents are compelled to monitor the shows and websites their children see.

Analysis Of A Leader Management Essay

Analysis Of A Leader Management Essay Isadore Sharp is the Founder of The Four Seasons Hotels Resort. Currently he is serving as the Chairman and CEO of The Four Seasons Hotels Resort. He was born in Ontario, Canada in October 8, 1931. Sharp is one of Canadas most successful businessmen. He completed his graduation in architecture from Torontos Ryerson Polytechnical Institute. After working in real states for five years, he decided to take a new direction and pondered the idea to build a hotel on his own. He was just 29 years old when he opened his first 125 room motor hotel (motel) in Toronto which was profitable and popular (Martin R, 2009). Mr. Sharp has build and managing a chain of 83 hotels that includes some of the worlds most impressive properties across 35 countries in 5 continents. Doing thing in own way Sharp has transformed the idea of service and quality of hotel industry. Mr. Sharp was not interested in following his competitors path; he developed his own management techniques and style which facilitated him to build the worlds largest chain of luxury hotels. Sharp was mainly focused on quality not the quantity. He believed in building medium sized hotel with excellent service and quality. In 2009, he authored a book name Four Seasons: The Story of a Business Philosophy, which gives an insight of the story of his successful five star Four Season Hotel chain (Morassutti W,2009). Mr. Sharp has obtained and earned so many achievements and awards in his field till now which includes Order of Canada, the second highest honor for merit and many more Lifetime Achievement Award .He is Honorary Director of Scotia bank, Clairvest Group Inc., Canadian Unity Council, Canadian Council of Christians and Jews, and Mount Sinai Hospital. Mr. sharp has given Honorary Doctor of Laws degree from University of Guelph, 1992, University of Toronto, 1994 and York University, 2009 (Businessweek, 2012). Leadership makes and allows a viewpoint for what must be done, why it is important, and how it can be achieved. It is someone who is aware of current government and company circumstances, possibilities, and issues. Leadership needs therefore having the right mind-set along with the right viewpoint. Leadership is an important function of control which allows to improve performance and to accomplish company objectives. Leadership is very important in taking effort, motivating, offering support, creating assurance, creating relaxation, creating fantastic office, and co-ordination. Leadership is important in every organization at every level to improve their growth win the competitors. Organizations want leaders, who are value inspired individualities, who can control the circumstances by making the surprising happens ,develop organizations, win the employees commitment with the DNA i.e. purpose, viewpoint and ethical concepts, create better design with proper work way of life and lead the individuals towards the success of company objectives and objectives (Saxena S, 2010). Leadership is a process by which an executive can direct, guide and influence the behavior and work of others towards accomplishment of specific goals in a given situation. Leadership is the ability of a manager to induce the subordinates to work with confidence and zeal. Leadership is the potential to influence behavior of others. It is also defined as the capacity to influence a group towards the realization of a goal. Leaders are required to develop future visions and to motivate the organizational members to want to achieve the visions (Anonymous, 2009). According to Keith Davis, Leadership is the ability to persuade others to seek defined objectives enthusiastically. It is the human factor which binds a group together and motivates it towards goals.(asiahotelier, 2010) Leadership and management are often considered to be the similar term. Leadership is very important in order to have effective management. Leadership focuses on building an environment in which each and every employee should be able to develop and excel. Leadership is basically influencing and driving the group efforts towards achieving the goals. A manager should have certain leadership qualities. Leaders formulate strategies that are competitive and which can give them a competitive advantage in the present as well as in the future. Therefore it is necessary for Organizations to have strong leadership and strong management for maintaining organizational efficiency (md, 2012). All the good leaders are good mangers but not all the good managers are good leader, its not necessary that an effective manger can be a good leader. Many Administrators, supervisors and executives are performing their duties and responsibilities in effective way without being a good leader. Managers follow what has been told by their leader, they think about their department where as a leaders thinks about the whole organization. Managers deals with ongoing, day to day challenges and complexities of organizations. Managing requires costing and planning and leading requires creating a mission and vision for the organization. Good leaders lead their people towards ultimate vision and help as well as motivates them in obstacles whatever come in the way (Coleman P, 2007). Good leaders are able to develop their work as a team. The first and most important function of a leader is to create and maintain that he and a pleasant working environment by needs a close look at his subordinates abilities, needs and potential capabilities. The second function of a leader is to serve as a labor representative. The head of a working group to work as a liaison and coordination between the group members and senior management. The desired condition, a leader is expected to communicate problems and complaints with their subordinates to senior management. The third function of leaders is to act as a consultant to help in the work for his people. Here are a leading company expects will accompany and advise his subordinates who face problems in terms of their performance in the workplace problem are not necessarily technical, but may also contain naturally emotional. The fourth important function leader manages time effectively (Anonymous, 2010). The function of leader is to check whether the employees are completing their work within the give time frame and also need to check if the work groups are providing quality and efficiency in their work. The fifth most important function of a leader is using his power in the right way. A leader should be a good observer. A leader should reward his subordinates so that they get motivated towards doing the job which in turn can create a positive and livelier working environment (Malhotra J, 2009). Different leaders have different leadership styles which differ in the manner and approach in which they provide direction to the people, and how they implement the plans and how they motivate the people. The three old approaches of leadership are Authoritarian or Autocratic, Participative or Democratic, Delegative or Free Reign. Leader who informs his employees about what needs to be done and how it needs to be done is an Authoritarian and Autocratic type of leader. Such a leader never takes advice and suggestions from others. This style of leadership is useful in situations when the leader has all the information and resources to solve the problem efficiently and only needs the work to be done by his employees. This style of leadership helps in saving time. This style is successful only when the employees are thoroughly motivated to do the work. A good leader knows when he needs to use this style and when not to (Cherry K, 2000). Leader who involves his employee in the process of decision making by taking their opinions and suggestions in how to do the work, uses the Participative style of leadership. Although he takes the opinions, the final decision remains with the leader and he can chose not use the suggestions if he thinks that it doesnt help the cause (Cherry K, 2000). Mr. Sharp believed that in order to achieve significant productivity gains, he needs to empower his employees to a certain extent. One of the first tasks that he did was to create a united purpose amongst his workers. Sharp knew that neither he nor anyone else could command the dedication of his employees. Leader who uses this style should not be considered a weak leader but on the contrary its a sign of strength. Using this style, a leader gains the respect of his employees. This style is used when the leader doesnt have complete information and other employees have some information which will be useful for achieving the goal. A leader s hould always employ employees who are knowledgeable and skillful as the leader is not expected to know each and everything. This style helps the leader to become a part of the team and it helps in getting towards a better decision (Lewin K., 1939). A leader who allows the decisions to be made by his employees uses the Delegative style of leadership. Although the decisions are made by the employee(s), the responsibility of the decisions rests with the leader since he is the person in-charge. This style should be used by a leader only when he can completely trust the decision making capabilities of his employees and has confidence in their knowledge and skills (U.S. Army Handbbok, 1973). Mr. Sharp believes that in order to gain the success one needs support. Mr. Sharp, the leading luxury hotelier in the world, didnt become so all by himself. In the 50 years of service in the hotel industry, he has developed a leadership style for himself which is unique and has encouraged his employees the world over to completely devote themselves for the betterment of the company in all regards. He has created a working environment which has been built on trust, credibility and integrity. This has inspired his team to work with more dedication to cater to the needs of the guests in all of his hotels across the world. Mr. Sharpe realized very quickly that this is the secret which will help him to get the best results for his company . New approaches of leadership are Transformational Leadership, Charismatic Leadership, Transactional Leadership, People Oriented Leadership. Leaders can posses all of this styles in some manner. Transformational leadership style is very inspiring. This type of leaders expects best from all employees as well as themselves which will lead to a good productivity and involvement of everyone as a team. Transformational leadership is very useful in the organization to take initiatives and add new values. Transformational leader needs support from their people or employess. This type of leaders uses other leadership styles as well depending on the situation and the people (Johnson R, 2010). Charismatic leadership style is one of the modest approaches of leaders to his employees. Charismatic leader shows enthusiasm towards his employees and motivates them to move forward. The only difference between charismatic leaders and transformational leaders is their intention. Transformational leaders wants to transform their teams and organizations where as Charismatic leaders are regularly focused on employees and do not want to change anything. The tsunami crisis in Southeast Asia in 2004 was a good example of Sharps commitment towards his team. Waves pounded the Four Seasons hotel in the Maldives and within 24 hours, all employees and guests were safely evacuated from the island. But, the damage didnt stop there. Resort went to shutdown and hundreds of employees were out of work all of a sudden. Sharp subsequently sent all his employees to other Four Seasons hotels around the world in order to keep them employed (Sharp I, 2008). Transactional leader work through such a structure in which it is clear what is to be done by his employees and what reward they will get after completion of the given task. This leadership style starts with the idea that team members agree to obey their leader when they accept a job. This leadership style clears employees roles and responsibilities (Tegborg M, 2010). In this leadership style employees are given rewards after achieving the goal and same way employees fail to achieve the given task, then they are fully responsible for the failure not the leader. This type of style focuses on short term tasks. The downside of this leadership style is that team members can do little to improve their job satisfaction. It can feel stifling, and it can lead to high staff turnover (mindtools, 2010). People-oriented leader completely focuses on organizing, supporting, and developing the people on their teams. People oriented leader treat every employee equally in a friendly and approachable manner which tends to encourage good teamwork and creative collaboration. Team members of a people oriented leader are often more productive because they know that the leader will provide support if they need it (mindtools, 2010). Same way Sharp has showed his people oriented leadership at the time recession. At that time other organization were downsizing the labor cost to recover the loss and unpressurized the situation, Sharp maximized employees value to show him commitment toward his people (Isadore Sharp, 2009).

The Relation of Thought and Emotion in William Wordsworth’s Surprised b

The Relation of Thought and Emotion in William Wordsworth’s Surprised by Joy    Dr. Branson's comments: This essay was written in response to an explication exercise in a course designed to introduce students to the fundamentals of the English major. It demonstrates not only excellence as an explication, but also as an interdisciplinary application of psychological theory to literary analysis.    In the sonnet "Surprised by Joy," William Wordsworth relates an episode of his struggle to cope with the death of his young daughter. That this elegiac poem, written to express grief, begins with joy is a testament to its emotional complexity. Although the poem's emotions range between exposing extremes, the thoughts of the narrator remain stable. As he relates his experience, he looks back with an unfaltering conviction that nothing but sorrow must result. Cognitive psychology's concept of dissonance provides a useful insight into the relationship of thought and emotion in the sonnet. According to dissonance theory, when thoughts and emotions seem to contradict each other, a state of anxiety, called cognitive dissonance, will result. This anxiety motivates attempts to achieve stability by restoring the unity of thought and emotion~ In accord with the cognitive viewpoint, this sonnet differentiates between two types of emotions: those that are independent of conscious thought and are characterized as transient, instinctive, and arousing, and those that comply to conscious thought and are characterized as permanent, orderly, and tranquil. "Surprised by Joy" is a Miltonic sonnet with the turn occurring roughly in the middle of the first line of the sestet. Wordsworth uses the sonnet form to create tension in the octave and resol... ... The narrator's progression from instinctive to thought-based emotion is the central event in the poem. The psychological struggle that this progression represents concludes in a defeat. The joy and love that initially overtake the narrator can be seen as a sign that he is ready to abjure his grief-ridden thoughts and recognize a lingering spiritual bond with his daughter. He instead rejects these impulses. Thought is the component of our internal environment that we can directly control, and with it we can actualize or suffocate emotions. The narrator uses his thoughts to reject joy and accept sorrow. In this way, he perpetuates his grieving in the face of impending happiness. Work Cited Wordsworth, William. "Surprised by Joy." The Norton Anthology of Poetry. Ed. Margaret Ferguson, Mary Jo Salter, and Jon Stallworthy. 4th ed. New York: Norton, 1996. The Relation of Thought and Emotion in William Wordsworth’s Surprised b The Relation of Thought and Emotion in William Wordsworth’s Surprised by Joy    Dr. Branson's comments: This essay was written in response to an explication exercise in a course designed to introduce students to the fundamentals of the English major. It demonstrates not only excellence as an explication, but also as an interdisciplinary application of psychological theory to literary analysis.    In the sonnet "Surprised by Joy," William Wordsworth relates an episode of his struggle to cope with the death of his young daughter. That this elegiac poem, written to express grief, begins with joy is a testament to its emotional complexity. Although the poem's emotions range between exposing extremes, the thoughts of the narrator remain stable. As he relates his experience, he looks back with an unfaltering conviction that nothing but sorrow must result. Cognitive psychology's concept of dissonance provides a useful insight into the relationship of thought and emotion in the sonnet. According to dissonance theory, when thoughts and emotions seem to contradict each other, a state of anxiety, called cognitive dissonance, will result. This anxiety motivates attempts to achieve stability by restoring the unity of thought and emotion~ In accord with the cognitive viewpoint, this sonnet differentiates between two types of emotions: those that are independent of conscious thought and are characterized as transient, instinctive, and arousing, and those that comply to conscious thought and are characterized as permanent, orderly, and tranquil. "Surprised by Joy" is a Miltonic sonnet with the turn occurring roughly in the middle of the first line of the sestet. Wordsworth uses the sonnet form to create tension in the octave and resol... ... The narrator's progression from instinctive to thought-based emotion is the central event in the poem. The psychological struggle that this progression represents concludes in a defeat. The joy and love that initially overtake the narrator can be seen as a sign that he is ready to abjure his grief-ridden thoughts and recognize a lingering spiritual bond with his daughter. He instead rejects these impulses. Thought is the component of our internal environment that we can directly control, and with it we can actualize or suffocate emotions. The narrator uses his thoughts to reject joy and accept sorrow. In this way, he perpetuates his grieving in the face of impending happiness. Work Cited Wordsworth, William. "Surprised by Joy." The Norton Anthology of Poetry. Ed. Margaret Ferguson, Mary Jo Salter, and Jon Stallworthy. 4th ed. New York: Norton, 1996.

Improvement of the Road Safety

A car accident is part of a list of problems on the road. Car accidents can happen to drivers anytime, anywhere, and even with those who are careful. This essay will deal with the road safety problem. I will discuss about main causes of the car accidents, and possible solutions for this problem. Now let’s look at the problem more closely. Every year the number of car accidents increase, due to increasing the number of cars on the road. Preston, 2007) The main causes of the car accidents are driver distractions, drunken drivers, driver fatigue, using cellular phones while driving, speeding, aggressive driving, mechanical failure, road conditions and weather. (Morris, n/d) (Unknown 1, 2005)Usually the most affected in car accident is driver, but passengers and pedestrians also are affected by the road accident. Brown, 2007) In general, about 1. 2 million people die due to car accidents each year nationwide andOne of the possible solutions of this problem could be car safety, whi ch include active and passive safety. Active safety means that this system helps driver to avoid an accident. Passive safety serves to save alive for driver, passengers in case of accident. Unknown 2, n/d) Nowadays some of the active and passive safety features already installed in majority of cars for example such systems as Anti-lock Braking System (ABS) which helps to stop car more effective and Electronic Stability Control (ESC) which stabilize a car on the road by correcting oversteering or understeering, improving traction on slippery or icy roads. (Unknown 2, n/d) There are such systems as proximity monitors which shows how close is your car to the vehicle ahead and drifting monitors which alert driver when car drifts.

Term Paper on Controlling Proceess

Govt. Titumir College Term Paper On â€Å"Application of Controlling Process in Banking Sector in Bd. † Prepared By Supervised by Name: Md. Golap Mia Rita Khandoker Roll:181 Year: BBA (2nd year) Lecturer Session: 2011-12 Department of Management NU Roll No: 9613648 Govt.Titumir College Department of Management Dhaka. Govt. Titumir College, Dhaka. Date of Preparation: 26. 01. 2012 Letter of Transmittal To Lecturer Department of Management Govt. Titumir College, Dhaka. Sub: Letter of transmittal. Dear Sir. I would like to draw your kind attention that we are submitting our report about the topic of â€Å"Application of Controlling Process in Banking Sector in Bd. † We have tried our best to prepare this report which will fulfill our requirement.We believe all these new ideas from this â€Å"Term Paper† will help us in our future practical life. We will be highly grateful to your honor if you would kindly accept our â€Å"Term Paper† and obliged thereby. Th anking you Name: Golap Mia Year: BBA (2nd year) Session: 2011-12 NU Roll No: 9613648 Department of Management Govt. Titumir College,Dhaka. Table of contents and counts: ChapterTopic namePage count 1 Introduction4 2Conceptual issues5-6 3Database7 4Findings of study8-24 5Conclusion& recommendations25-27 1. Internal Control Policy 1. 1) Overview Banking has a diversified and complex financial activity which is no longer limited within the geographic boundary of a country. Since its activity involves high risk, the issue of effective internal controls system, corporate governance, transparency, Accountability has become significant issues to ensure smooth performance of the banking industry throughout the world. In many banks internal control is identified With internal audit; the scope of internal control is not limited to audit work.It is an Integral part of the daily activity of a bank, which on its own merit identifies the risks associated with the process and adopts a measure to mi tigate the same. Internal Audit on the other hand is a part of Internal Control system which reinforces the control system through regular review. According to an IMF publication Internal Control refers to the mechanism in place on a permanent basis to control the activities in an organization, both at a central and at a departmental divisional level.A key component of effective internal control is the operation of a solid accounting and information system. In Bangladesh analysis on the performances of the banks has pointed out that an effective internal control system could have contributed significantly in improving the performance of the Commercial banks if the control culture is brought in through policy guidelines and structural changes at these banks and procedural controls. (1. 2) Objective of Internal ControlThe primary objective of internal control system in a bank is to help the bank perform better through the use of its resources. Through internal control system bank iden tifies its weaknesses and takes appropriate measures to overcome the same. The main objectives of internal control are as follows: †¢ Efficiency and effectiveness of activities (performance objectives). †¢ Reliability, completeness and timelines of financial and management information (information objectives) †¢ Compliance with applicable laws and regulations (compliance objectives) .Accountability to the Board. (2) STANDARDS OF INTERNAL CONTROL Internal control policies set forth some standards that departments must establish and incorporate in an internal control structure: (I)Cover all activities: All financial institutions should develop internal controls which have coverage over all their functions, in general, and the key risk areas (KRA) in particular. Key Risk Areas include those core activities, the break down of which may render a financial institutions unable to meet its obligations; to its customers, regulators and the sponsors.Further, the risk originatin g from such activities is of the type that it may cause in systemic failure of other financial institutions. Examples of key risk areas are Liquidity Risk, Interest Rate Risk, Foreign Exchange Risk, Credit Risk, Operational Risk, etc. (II) Regular Feature: Control activities should be an integral part of the daily activities of a financial institutions / DFI in such a manner that it becomes ingrained in their ongoing processes rather than a year-end â€Å"fire drill† to satisfy documentation requests from auditors and supervisors. III) Separation of Duties: Duties should be divided so that no one person has complete control over a key function or activity. (IV) Authorization and Approval: All transactions should be authorized before recording and execution. (V) Custodial and Security Arrangements: Responsibility for custody of assets needs to be separated from the related record keeping. (VI) Review and Reconciliation: Records should be examined and reconciled to regularly de termine that transactions are properly processed, approved and booked. VII) Physical Controls: Equipment, inventories, cash and other assets should be secured physically, counted periodically and compared with amounts shown on control records. (VIII) Training and Supervision: Qualified, well-trained and supervised employees always help ensure that control processes function properly. (IX) Documentation: Documented policies and procedures promote employee understanding of duties and help ensure continuity during employee absences or turnover. Therefore, policies and procedures (in the form of operations manuals and desk instructions) should exist in all financial institutions / DFI. X) Communication of importance of Internal Controls: Setting standards of professional integrity and work ethics and ensuring that all levels of personnel in their organization know the importance of internal controls and understand their role in the internal controls process and be fully engaged in the p rocess. (XI) Cost/Benefit: It is for the financial institutions to assess the costs associated with control processes commensurate with the expected benefits. The controlling process data are collected in a standardized way.To start, the controlling process team, with academic advisers, designs a questionnaire. The questionnaire uses a simple control case to ensure comparability across economies and over time—with assumptions about the legal form of the control, its size, its location and the nature of its operations. Questionnaires are administered through more than 28 local experts, including lawyers, banker, business consultants, accountants, freight forwarders, government officials and other professionals routinely administering or advising on legal and regulatory requirements.These experts have several rounds of interaction with the controlling process team, involving conference calls, written correspondence and visits by the team. For Controlling process 2012 team membe rs visited 4 economies to verify data and recruit respondents. The data from questionnaires are subjected to numerous rounds of verification, leading to revisions or expansions of the information collected. It is not a statistical survey, and the texts of the relevant laws and regulations are collected and answers checked for accuracy. The methodology is inexpensive and easily replicable, so data can be collected in a large sample of economies.Because standard assumptions are used in the data collection, comparisons and benchmarks are valid across economies. Finally, the data not only highlight the extent of specific regulatory obstacles to business but also identify their source and point to what might be reformed. Limits to what is measured The Controlling process methodology has 5 limitations that should be considered when interpreting the data. First, the collected data refer to businesses in the economy’s largest business city and may not be representative of regulation in other parts of the economy. To address this limitation, sub nationalControlling process indicators were created (see the section on sub national controlling process indicators). Second, the data often focus on a specific business form—generally a commercial bank (or its legal equivalent) of a specified size—and may not be representative of the regulation on other businesses, for example, Islami Bank Third, transactions described in a standardized case scenario refer to a specific set of issues and may not represent the full set of issues a banking encounters. Fourth, the measures of time involve an element of judgment by the expert respondents.When sources indicate different estimates, the time indicators reported in Controlling process represent the median values of several responses given under the assumptions of the standardized case. Finally, the methodology assumes that a business has full information on what is required and does not waste time when completing procedures. In practice, completing a procedure may take longer if the business lacks information or is unable to follow up promptly. ELEMENTS OF A SOUND SYSTEM OF INTERNAL CONTROLS AND THE PRINCIPLES FOR ASSESSING THE SYSTEM (A)Elements of Internal ControlsAn effective internal control system consists of following interrelated components: 4. 1. Management oversight & Control environment; 4. 2. Risk assessment & management ; 4. 3. Control activities & segregation of duties; 4. 4. Accounting, information & communication; and 4. 5. Self assessment & monitoring 4. 1 Control Environment: The environment in which internal control operates has an impact on the effectiveness of the control procedures. In fact it is institution’s control environment which embodies the principles of strong internal control. Besides giving structure to the internal control system, it provides iscipline and protocol. The success of control environment is judged according to the integrity, ethics, and co mpetence of personnel; the organizational structure of the institution; oversight by the board of directors and senior management; management’s philosophy and operating style; attention and direction provided by the board of directors and its committees, especially the audit and risk management committees; personnel policies and practices and; external influences affecting operations and practices. In order for internal controls to be effective, an appropriate control environment should demonstrate following behaviors:Board of directors reviews policies and procedures periodically and ensures their compliance; Board of directors determines whether there is an audit and control system in place to periodically test and monitor compliance with internal control policies/procedures and to report to the board instances of noncompliance; Board of directors ensure independence of internal and external auditors such that internal audit directly reports to the audit committee of the bo ard which is responsible to the board and that external auditor interacts with the said committee and presents management letter to the board directly; Board ensures that appropriate remedial action has been taken when instance of noncompliance are reported and that system has been improved to avoid recurring errors/mistakes; Management information systems provides adequate information to the board and that the board can have access to financial institutions records, if need arises; Board and management ensure communication of conduct or ethics policies and compliance thereof down the line within the organization; In short, a strong control environment and an effective internal audit function, can significantly complement specific control procedures.However, constitution of internal control environment at a point-of-time does not, by itself, ensure the effectiveness of the overall system of internal control but it is the continuous supervision by management to ensure if it is functi oning as prescribed and is modified as appropriate. Many internal control failures that resulted in significant losses for financial institutions could have been substantially lessened or even avoided if the board and senior management of the organizations had established strong control cultures. Weak control cultures often had two common elements: First, senior management failed to emphasis the importance of a strong system of internal control through their words and actions, and most importantly, through the criteria used to determine compensation and promotion.Second, senior management failed to ensure that the organizational structure and managerial accountabilities were well-defined. For example, senior management failed to require adequate supervision of key decision makers and reporting of the nature and conduct of business activities in a timely manner. Senior management may weaken the control culture by promoting and rewarding managers who are successful in generating profi ts but fail to implement internal control policies or address problems identified by internal audit. Such actions send a message to others in the organization that internal control is considered secondary to other goals in the organization, and thus diminish the commitment to and quality of the control culture. 4. 2 Risk assessment and management:Every financial institutions activity involves some kind of risk and this creates a compulsion for the financial institutions that, as part of an internal control system, these risks are being identified, assessed and mitigated. From an internal control perspective, risk assessment involves; identification and evaluation of factors, both internal and external, that could adversely affect performance, information and compliance objectives of a financial institutions. Internal factors include: complexity, nature and size of operations; quality of personnel and employee turnover; objectives and goals, etc. External factors include: fluctuating economic conditions, changes in the industry and technological advances, degree of aggressiveness of the market and competition faced by the market participants, etc.It may be noted that it differs from the risk management process, which typically focuses more on the review of business strategies and plans developed to maximize the risk/reward trade-off within the different areas of the financial institutions. This risk identification should be done across the full spectrum of activities addressing both measurable and non-measurable aspects of risks. Second part of risk assessment – evaluation is done to determine which risks are controllable by the financial institutions and which are not. For those risks that are controllable, the financial institutions must assess whether to accept those risks or the extent to which it wishes to mitigate the risks through control procedures.For those risks that cannot be controlled, the financial institutions must decide, for the present, whether to these risks or to withdraw from or reduce the level of business activity concerned. But for the future, internal controls may need to be revised to appropriately address any new or previously uncontrolled risks. An effective risk assessment system allows the board and the management to plan for and respond to existing and emerging risks in the financial institutions activities. For that matter, such a system needs to demonstrate following: Board and management involve audit personnel or other internal control experts in the risk assessment and risk evaluation process.Those experts should be competent, knowledgeable, and provided with adequate resources. As the risks mutate with time and with changing circumstances, the board and the management, with due involvement of audit personnel, should appropriately evaluate the risks and consider control issues related to existing products and those relevant to new products and activities. Risk coverage in the form of insurance (t hat is risk transfer) or provisioning (contingency fund) in relation to the financial institutions risk profile is adequate. In the recent past, inadequate risk assessment has contributed to some organizations’ internal control problems and related losses.In some cases, the potential high yields associated with certain loans, investments, and derivative instruments distracted management from the need to thoroughly assess the risks associated with the transactions and devote sufficient resources to the continual monitoring and review of risk exposures. Losses have also been caused when management has failed to update the risk assessment process as the organization’s operating environment changed. For example, as more complex or sophisticated products within a business line are developed, internal controls may not be enhanced to address the more complex products. A second example involves entry into a new business activity without a full, objective assessment of the risk s involved.Without this reassessment of risks, the system of internal control may not appropriately address the risks in the new business. 4. 3 Instituting Controls: Control activities are designed and implemented to address the risk that the financial institutions identified through the risk assessment process as described above. Control activities involve: (a) establishment of control policies and procedures, (b) verification that the control policies and procedures are being complied with. It is desired that control activities should involve all levels of personnel in the financial institutions, including senior management as well as front line personnel. Instituting an appropriate controls structure ensures the efficacy of an internal control system. This process involves:Existence and compliance of policies and procedures ensuring that decisions are made with appropriate approvals and authorizations for transactions and activities while assuring that exceptions to the policies are minimal and reported to the board and the top management; Timely reconciliation of accounts so that outstanding items, both on-and of balance-sheet, are resolved and cleared; Segregation of duties, existence of cross-checks, more-than-one-person authorization, dual controls, joint custody of keys, safeguards for access to and use of sensitive assets and records and forced leave policies, employees rotation systems are functioning in sensitive positions or risk-taking activities so that concerned employees do not have absolute control over areas; Building of such reporting lines within a business or functional area that independence of the control function is ensured; Accountability mechanism for the actions taken by the personnel as per their responsibilities and uthorities; Structure and functioning of compliance framework through which the board and senior management establishes that compliance with applicable laws and regulations is ensured. In short, top level reviews; appro priate activity controls for different departments or divisions; physical controls; checking for compliance with exposure limits and follow-up on noncompliance; a system of approvals and authorizations; and, a system of verification and reconciliation are major constituents of the control activities. 4. 4 Accounting Information and Communication Systems An institution’s accounting, information, and communication systems ensure that risk-taking activities are within policy guidelines and that the systems are adequately tested and reviewed.For this the following is important to note; Effective internal control system requires that there is an effective reporting system of information that is relevant to decision making. The information should be reliable, timely accessible and provided in a consistent format. Information would have to include external market information about events and conditions that are relevant to decision making. Internal information include financial, ope rational and compliance data. There, should be appropriate committees within the organization which would evaluate data received through various information systems. This will ensure supply of correct and accurate information to the management.Internal information must cover all significant activities of the financial institutions. These systems including those that hold and use data in electronic form must be secure, monitored independently and supported by contingency arrangements. Most importantly the channels of communication must ensure that all s fully understand and adhere to policies and procedures effecting their duties and responsibilities and that other relevant information is reaching the appropriate personnel. An accounting system is adequate if it properly identifies, assembles, analyzes, classifies, records, and reports the institution’s transactions in accordance with prescribed formats and international best practices.The adequacy of information systems is de termined by the type, number, and depth of reports it generates for operational, financial, managerial, and compliance-related activities and the access and authorization to information systems. An ideal information system covers the full range of its activities in such a manner that information remains understandable and useful for audit trail. Adequate information and effective communication are essential to the proper functioning of a system of internal control. From the financial institutions perspective, in order for information to be useful, it must be relevant, reliable, timely, accessible, and provided in a consistent format.Information includes internal financial, operational and compliance data, as well as external market information about events and conditions that are relevant to decision making. Internal information is part of a record-keeping process that should include established procedures for record retention. On the one hand, the adequacy of communication systems is established by the fact that it imparts significant information throughout the institution (from the top down and from the bottom up, and laterally), ensuring that personnel understand whatever has been communicated and on the other hand, communication system should ensure that significant information is imparted to external parties such as regulators, shareholders, and customers. Without effective communication, information is useless.Senior management of financial institutions needs to establish effective paths of communication in order to ensure that the necessary information is reaching the appropriate people. This information relates both to the operational policies and procedures of the financial institutions as well as information regarding the actual operational performance of the organization. The organizational structure of the financial institutions should facilitate a complete flow of information – upward, downward and across the organization. A structure that facilitates this flow ensures that information flows upward so that the board of directors and senior management are aware of the business risks and the operating performance of the financial institutions.Information flowing down through an organization ensures that the financial institutions objectives, strategies, and expectations, as well as its established policies and procedures, are communicated to lower level management and operations personnel. This communication is essential to achieve a unified effort by all financial institutions employees to meet the financial institutions objectives. Finally, communication across the organization is necessary to ensure that information that one division or department knows can be shared with other affected divisions or departments. 4. 5 Self-Assessment and Monitoring: An integral component of internal control system is self-assessment and monitoring which includes: Board and senior management oversight of the internal control, control r eviews, and audit findings.Before starting full scale control review, the board and senior management should give their approval of the overall scope of the control review activities (e. g. , audit, loan review, etc. ). Frequent and comprehensive reporting of deviations to the board or board committee and senior management regarding sufficiency of details and timely presentation to allow for resolution and appropriate action. Adequate documentation of management responses to audit or other control review findings so that it can be tracked for adequate follow-up. Board or board committee or senior management review of the qualifications and independence of the personnel evaluating controls (e. g. , external auditors, internal auditors, or line managers). Financial institutions is a dynamic, rapidly evolving industry.Financial institutions must continually monitor and evaluate their internal control systems in light of changing internal and external conditions, and must enhance these systems as necessary to maintain their effectiveness. Monitoring the effectiveness of internal controls should be part of the daily operations of the financial institutions but also include separate periodic evaluations of the overall internal control process. The frequency of monitoring different activities of a financial institution should be determined by considering the risks involved and the frequency and nature of changes occurring in the operating environment. Ongoing monitoring activities can offer the advantage of quickly detecting and correcting deficiencies in the system of internal control.Such monitoring is most effective when the system of internal control is integrated into the operating environment and produces regular reports for review. Examples of ongoing monitoring include the review and approval of journal entries, and management review and approval of exception reports. (B) CONTROL PRINCIPLES So far we have discussed about the elements of a sound internal contr ol. Now the question is how to assess the internal controls of a particular organization The following principles related to the basic elements of control should be borne in mind while assessing internal control: A. Management Oversight and Control Environment Principle 1:The board of directors should have responsibility for approving and periodically reviewing the overall business strategies and significant policies of the financial institutions; understanding the major risks run by the financial institutions, setting acceptable levels for these risks and ensuring that senior management takes the steps necessary to identify, measure, monitor and control these risks; approving the organizational structure; and ensuring that senior management is monitoring the effectiveness of the internal control system. The board of directors is ultimately responsible for ensuring that an adequate and effective system of internal controls is established and maintained. Principle 2:Senior management should have responsibility for implementing strategies and policies approved by the board; developing processes that identify, measure, monitor and control risks incurred by the financial institutions; maintaining an organizational Structured that clearly assigns responsibility, authority and reporting relationships; ensuring that delegated responsibilities are effectively carried out; setting appropriate internal control policies; and monitoring the adequacy and effectiveness of the internal control system. Principle 3: The board of directors and senior management are responsible for promoting high ethical and integrity standards, and for establishing a culture within the organization that emphasizes and demonstrates to all levels of personnel the importance of internal controls. All personnel at a financial institution sing organization need to understand their role in the internal controls process and be fully engaged in the process. B) Risk Recognition and Assessment Principle 4:An effective internal control system requires that the material risks that could adversely affect the achievement of the financial institutions goals are being recognized and continually assessed. This assessment should cover all risks facing the financial institutions (that is, credit risk, country and transfer risk, market risk, interest rate risk, liquidity risk, operational risk, legal risk and reputation risk). Internal controls may need to be revised to appropriately address any new or previously uncontrolled risks. C) Control Activities and Segregation of Duties Principle 5: Control activities should be an integral part of the daily activities of a financial institution. An effective internal control system requires that an appropriate control structure be set up, with control activities defined at every business level.These should include: top level reviews; appropriate activity controls for different departments or divisions; physical controls; checking for compliance wit h exposure limits and follow-up on non-compliance; a system of approvals and authorizations; and, a system of verification and reconciliation. BIS Framework for Internal Control Systems in Financial institutions. Principle 6: An effective internal control system requires that there is appropriate segregation of duties and that personnel are not assigned conflicting responsibilities. Areas of potential conflicts of interest should be identified, minimized, and subject to careful, independent monitoring. D) Information and communication Principle: 7An effective internal control system requires that there are adequate and comprehensive internal financial, operational and compliance data, as well as external market information about events and conditions that are relevant to decision making. Information should be reliable, timely, accessible, and provided in a consistent format. Principle 8: An effective internal control system requires that there are reliable information systems in pla ce that cover all significant activities of the financial institutions. These systems, including those that hold and use data in an electronic form, must be secure, monitored independently and supported by adequate contingency arrangements. Principle 9:An effective internal control system requires effective channels of communication to ensure that all staff fully understand and adhere to policies and procedures affecting their duties and responsibilities and that other relevant information is reaching the appropriate personnel. (E) Monitoring Activities and Correcting Deficiencies Principle 10: The overall effectiveness of the financial institutions internal controls should be monitored on an ongoing basis. Monitoring of key risks should be part of the daily activities of the financial institutions as well as periodic evaluations by the business lines and internal audit. Principle 11: There should be an effective and comprehensive internal audit of the internal control system carrie d out by operationally independent, appropriately trained and competent staff.The internal audit function, as part of the monitoring of the system of internal controls, should report directly to the board of directors or its audit committee, and to senior management. Principle 12: Internal control deficiencies, whether identified by business line, internal audit, or other control personnel, should be reported in a timely manner to the appropriate management level and addressed promptly. Material internal control deficiencies should be reported to senior management and the board of directors. RESPONSIBILITIES OF THE PARTIES TO INTERNAL CONTROL The board of directors, senior management and other personnel of financial institutions are responsible for establishing, maintaining, and operating an appropriate internal control system on an ongoing basis. Board of Directors:The Board of Directors of all financial institutions is responsible for ensuring that an adequate and effective intern al control system exists in their organization and that the senior management is maintaining and monitoring the performance of that system. Moreover, Board should periodically review the internal control systems and the significant findings. From the above it can be said that: The overall responsibility of setting acceptable level of risk, ensuring that the senior management committee take necessary steps to identify , measure , monitor and control these risks, establishing broad business strategy, significant policies and understanding significant risks of the company rests with the Board of Directors.Through the establishment of an ‘Audit Committee' of the Board and ‘Internal Control Department’ the Board of Directors can monitor the effectiveness of internal control system. The internal as well as external audit reports will be sent to the board without any intervention of the management and ensure that the management takes timely and necessary actions as per t he recommendations. The Board should have periodic review meetings with the senior management to discuss the effectiveness of the internal control system of the company and ensure that the management has taken appropriate actions as per the recommendations of the auditors and internal control. Management:Senior management of financial institutions have the responsibility for implementing strategies and policies as approved by the board in work place ; developing processes that identify, measure, monitor and control risks incurred by the financial institutions; maintaining an organizational structure that clearly assigns responsibility, authority and reporting relationships; ensuring that delegated responsibilities are effectively carried out; setting appropriate internal control policies; and monitoring the adequacy and effectiveness of the internal control system. Audit Committee of the Board: This Committee shall be formed by the Board of a company.The members of the Audit Committ ee shall be the selected Directors and the Managing Director. The Committee shall seat at least quarterly in a year. The Committee shall perform its work through an Internal Control Unit comprising of the Audit & Inspection wing and Compliance wing. The Committee shall monitor the adequacy and effectiveness of the Internal Control System based on established policies and procedure. The Committee vide its two wing shall produce, on quarterly basis, a report on internal control system and significant findings and present it to the Board. The terms of reference of the Audit Committee, frequency of meeting , name of the members of the Committee shall be decided by the Board. External Auditor:The external auditors are not part of a financial institution and, therefore, are not part of its internal control system, yet they have an important impact on the quality of internal controls through their audit activities, including discussions with management and recommendations for improvement o f internal controls. The external auditors provide important feedback on the effectiveness of the internal control system. The concept of external reporting on internal controls is well established and supported in the accounting literature. It is expected that external / statutory auditors shall review control systems for the impact they have on financial reporting and compliance with relevant policies, procedures, regulations and laws.The extent of attention given to the internal control system may vary by auditor and by financial institutions; however, it is generally expected that the auditor would identify significant weaknesses that exist at a financial institutions and report material weaknesses to management and the board in the form of an audit report/ management letter. As regards internal control and the role of external auditors the following things should be borne in mind by the auditors: External Auditors by dint of their independence from the management of the financi al institutions can provide unbiased recommendation on the strength and weakness of the internal control system of the financial institutions.They can examine the records, transactions of the financial institutions and evaluate its accounting policy, disclosure policy and methods of financial estimation made by the financial institutions; this will allow the board and the management to have an independent overview on the overall control system of the financial institutions. It should be made obligatory on the part of the auditor to report to the Bangladesh Bank immediately if during the course of audit the auditor come across any facts which (1) might warrant qualification (2) endanger the entity audited and (3) indicate that the organization has severely infringed the regulatory provisions/guidelines. Regulator:The Financial Institutions Department(FID) of Bangladesh Bank is the direct supervisor of the financial institutions of Bangladesh. FID has many responsibilities to the Fina ncial Institutions to protect interest of the public and to maintain financial discipline. The responsibilities of FID should be regulatory as well as advisory. In order to achieve the regulatory and supervisory objectives the Bangladesh Bank may introduce a comprehensive supervisory framework. Supervision can be of two types: a. On Site Supervision and b. Off Site Supervision Off site supervision would structurally be an in-house review and analysis based on various statutory returns and other statements.On site supervision includes physical visit and inspection by Bangladesh Bank Official ensuring regulatory compliance, evaluation of financial soundness, appraisal of management and identification of areas requiring corrections, review of asset quality , analysis of key financial indicators etc. As a regulator the Bangladesh Bank may introduce a system whereby the name of the Financial Institute which had not complied with the regulatory directions could be published in the newspap ers. The Bank may make it compulsory for the NBFIs to do credit rating periodically. The Bank may introduce an on-line corporate memory/profile building process based on the observations generated from off-site surveillance system, , market intelligence, complaints, supervisory rating, record of compliance with directions and inspection findings.Bangladesh Bank may think of devising a suitable system for co-coordinating the Onsite inspection in tandem with the other regulatory authorities so that these NBFIs are subject to one shot examination by different regulatory authorities. The Bank may think of introducing a supervisory rating system for the NBFIs. Such a rating system should be designed on the basis of different levels of regulatory compliance, capital adequacy and rating assigned by the credit rating agencies. Based on the rating the NBFIs may be placed in three different supervisory â€Å"watch list† with low, medium and high risks. The rating assigned may primarily be the tool for triggering on-site inspection at various intervals.It shall play its role as a watch dog, review the compliances of the regulations and Circulars issued from time to time through periodic inspections and visits, issue new directives for the betterment of macro economy, take corrective actions, if necessary, provide necessary advises and clarifications to the NBFIS. During the course of regular inspection of financial institutions or when required, Financial institutions Department (FID)of Bangladesh Bank shall review the internal control system of any financial institutions in order to ensure compliance with these guidelines and all other relevant regulations and laws, circulars issued and enforced from time to time.In addition to that, the FID may review the report of the internal auditor of the financial institutions, assessment report of the management regarding effectiveness of the internal control and Boards’ endorsement thereof and the external/statutor y auditors’ evaluation of the management regarding effectiveness of the internal control. In addition to the above the following points shall also apply to the regulators: For the financial institutions Bangladesh Bank is the primary regulator, who governs the activities of financial institutions. In addition Tax Authority, Registrar of Joint Stock Company Finance Ministry, Securities and Exchange Commission etc. are different types of Govt. bodies whose directives have significant impact of financial institutions business. The internal control system should always take into account the financial institutions internal processes to meet the regulatory requirement before conducting any operation.The internal control system of the financial institutions must be designed in a manner that the compliance with regulatory requirements is recognized in each activity of the financial institutions. The financial institutions must obtain regular information on regulatory changes and dist ribute among the concerned department, so that they can take necessary, action to adapt to such changes. The financial institutions must develop an effective communication process which will allow smooth distribution of relevant regulations among different departments and, personnel. IMPLEMENTATION OF INTERNAL CONTROLS: Various models/methodologies are used for the design and implementation of internal controls.However, it is the decision of the organizations to decide what model / strategy suit the size, nature, complexity, scope, risk exposure, etc. of their activities. Nevertheless, following is a brief summary of the key points that should be kept in mind while implementing the internal controls: Compare current practices to the internal control system and identify gaps. For an internal control expert, the most important consideration should be to evaluate the existing system of internal control in comparison to one defined by these guidelines and other international best practi ces. In this regard the first step is to identify what is and what is not covered by existing practices. Involve senior management, the audit committee, audit staff, other key players.The thought process and implementation of change should not be considered as â€Å"just other audit things. † Senior management and the audit committee must be perceived as driving the change and developing the control culture. Assess business environment, organization culture and key players. Before the process of change is set in, it would be necessary to understand: (1) what is changing in the culture (2) What is changing in the organization’s businesses and systems (3) Are there organizational initiatives which internal control system implementation could link to (4) What is the perception about the internal auditing function within the organization .Decide on implementation strategy. If the new practices can be designed to align with other organizational initiatives, or if senior man agement has taken ownership, this step is relatively easy. In any case, having a realistic implementation strategy is critical to success. Most implementers introduce the new ideas slowly and informally, building on personal relationships within the organization, listening as much as talking, and gradually building a consensus for change. Provide training to everyone involved. The most critical factor to the successful implementation of a control model is that everyone involved must understand internal control.Effective training depends heavily on how concepts are phrased and the concrete examples and exercises which make the concepts real to participants. Rectification & Improvement: The findings of the internal audit department and that of other experts should be reported back to the relevant staff/office for rectification and improvement of the internal control system. Instituting an appropriate organization structure: Organization structure plays a vital role in establishing eff ective internal control system. It is the sometimes called the pictorial representation of the chain of command and the authority and supervision chain of an organization.The essence of the ideal organizational structure that will facilitate effectiveness of the internal control system is the segregation of duties. The financial institutions should, depending on the nature of business, structure, size, location of its branches and strength of its manpower try to establish an organizational structure which allow segregation of duties among its key functions such as marketing, operations, credit, financial administration etc. Up to which level this segregation will take place will depend on an individual financial institution. For instance a financial institution which has small branch operations at remote places of the country may not find it feasible to have such functional segregation of duties at that branch level.However at the higher level such segregation should exist and where possible this should be extended to the branch levels. In cases where such segregation is not possible, there must be certain monitoring mechanism which should be independently reviewed to ensure all policies and procedures are followed at the branch level. A detail guideline in this respect is given in the following section. Structure of the Internal Control Unit For an effective control system a separate organizational structure is also provided for this unit. The audit committee of the board shall be the contact point for the internal control unit. The unit should be adequately staffed so that it can perform its duty properly.In order to ensure that availability of efficient people with internal control the financial institutions will make it mandatory for all middle to senior management staff to spend at least two years with internal control on second meant. The head of internal control will report directly to the Audit Committee of the Board He will be responsible for the both compliance and control related tasks which include compliance with laws and regulation, audits and inspection, monitoring activities and risk assessment. The audit team of the internal control unit will perform periodic and special audit and inspection. The compliance unit will be responsible to ensure that financial institution complies with all regulatory requirement while conducting its business.They will maintain liaison with the regulators at all level and notify the other units regarding regulatory changes. Audit Committee of Board Audit & Inspection Wing Inspector Compliance Wing Internal Control Unit Preparing various guidelines/manuals Each Financial institution should have a policy guideline in line with relevancy laws and internal documents in order to ensure an effective control over its process in various fields e. g. credit, human resources, finance & accounts, treasury, audit, customer service etc. There should be a written policy guideline for each Departmentâ€℠¢s function which may be as follows. (a) Standard Operating Procedures -Credit & Operations The main objective of lending money is to ensure maximum return of lend able fund.This manual should highlight the process starting from review of credit proposals, obligor risk rating, approving credit limit, disbursement of loans, monitoring of credit risk etc. Various types of MIS should be provided in order to have better control over assets of the financial institutions which can be generated if the system is in place. This manual should also contain role of Credit Admin. , Trade Finance, Reconciliations, Cash, Client’s service, Treasury, Back office etc. It should also reflect a clear guideline regarding Anti-Money Laundering activity in order to protect Financial institution’s interest. Credit Admin will be responsible for monitoring of limits and outstanding as per credit approval.This manual should cover the following areas inter alias: Risk classes, lending limits and credit authorities Investment policies Policies on financial & other product & services Lending guidelines Approval processes Documentations Securities and collaterals etc. Account Opening and closing Payment monitoring procedures Loan Administration Treasury Operations Anti-money Laundering procedures etc. (b) Finance & Accounting Manual This manual should provide guidelines on financial activities regarding income and expenditure of a financial institution. They will look after if there is any exaggeration of expenditure where it is necessary to get control.This manual must incorporate a clause which shall make it mandatory to prepare and present an annual budget which shall contain target business, revenue, expenses, capital expenditures etc. This budget should be placed to the Board before starting of a new year and a periodic review of the actual achievement. Through this process it can also ensure the profitability of the financial institutions. The basic content of Finance Ma nuals are: Financial & Accounting Policies Financial Accounting Financial Management & Administration Fixed Assets Control Procurement of Goods and Services Audit and Internal Control General Clause Capital structure policies Treatment of Land, Building & Equipment Capital Adequacy and Shareholders EquityTreatment of revenue and expenditures Income tax procedures Write-off procedures etc. (c) Treasury Manual This manual should include activities of fund transfer. Inter financial institutions fund management is one by them. The manual should include the guideline so that they may manage the financial institutions fund properly and profitably. There may be some idle fund in the financial institutions which is to be taken into account so as to make them invested in optimum profit seeking area. They should also ensure the security of the fund. If possible, they may look into international money market subject to the available opportunity in the money market arena.While framing a treasur y manual the following things should be considered inter alias : Internal Items Liquidity Cost of fund Vs. yield from assets Policies & Procedure Skill of staff etc. External Items Market Liquidity Risks including changes in Exchange Rates Changes in regulations etc. Investments Capital management etc. (d)Human Resource Policy Manual They will, at first, ensure the proper distribution of available human resources in the infrastructure of the financial institutions. It should also delineate the authority and responsibility of each employees . To find out the right person for setting up them at the right position is very crucial.The rewarding method of that department should be impartial. They will ensure staff welfare which will ultimately encourage people and create a healthy working atmosphere. This manual should contain inter alias the following: Recruitment policy Background checking policy Leave policy Compensation policy Reward and Recognition policy Termination & retirement po licy Promotion and increment policy Training guidelines Employees code of conduct etc. (e)Information Technology Manual This manual should contain the following areas: MIS to be generated Security of Data and programme Back up system Control mechanism of data and files Disaster recovery plan NetworkingHardware maintenance Service agreements etc. Training Manpower backup Power backup system Data storage 20 EXAMINATION OR EVALUATION OF CONTROL As soon as the implementation of control is completed the next question is how to evaluate the effective functioning of this system. Evaluation may be done in the following ways: a. Verification of departmental function through Check List b. Reviewing the documentation relating to operational activities through a check list c. Preparing quarterly report and reviewing the same d. Risk analysis e. Audit Process & communication of weakness Departmental Control Function Checklist (DCFCL) {Appendix 7. 1 to 7. 4} ) The guideline/procedure deals with m atters relating to review/verifications of departmental functions to ensure that prescribed procedures are being followed by each department. b) All departments are required to check that prescribed controls are being observed and laid down procedures are not overlooked & relaxed. c) Departmental Managers/Branch Managers will review the DCFCL to ensure that control functions are performed and documented in the control sheets (Appendix 1) at the prescribed frequencies i. e. Daily, weekly, monthly and quarterly. d) The DCFCL Checklist should be retained with the branch/departments for future inspection by Internal Control and Senior Management. Loan Documentation Checklist {Appendix 7. 6}The checklist deals with matters relating to security/other documentation for sanctioning credit facilities to ensure that prescribed documentation is being obtained to safe guard financial institutions interest in case of litigation. Copy of the loan documentation check list shall be sent to the leas e/loans department for their use. Quarterly Operations Report {Appendix 7. 5} This guideline/procedure relates to reporting of operational functions of each branch/centre under the following heads on the enclosed format: i. Policies, Procedures and Controls ii. Protection of Valuables iii. Proofs/Verifications and Internal Checks iv. Personal and Supervision and v. Premises Management vi. Confirmation on Regulatory Compliance This report will be prepared by the Departmental/Branch Head .This will be prepared in duplicate copies one copy is to be dispatched to Internal Audit Department and another copy to the Audit Committee of the Board by 10th of the following month. The items which are not applicable for individual Department should be marked as N/A and no signature is required against the items marked as N/A. Any deviation in the quarterly operations report must be reported in a separate exception report or shall be marked specially in the report. Risk Analysis of Control Functio ns Individual items in the DCFCL need to be assigned a risk rating in terms of the following dimensions: a) Impact: Before taking into account the mitigation (i. e. Insurance) what is the impact of the lapse/omission. b) Probability: After taking into account of the mitigation what is the likelihood of the event occurring.To assist in this task, the following matrix (Table 1) can be used. However some financial institutions may consider customization of this matrix to suit their own risk profile. Where appropriate, additional details (e. g. financial values can be added). The key principle is that all financial institutions should be able to differentiate between different levels of risk in their own area of activity and then ensure appropriate controls are established. Scores should be plotted on the following table to determine a category of high, medium and low risk. Conclusion Recommendations The quality of internal control is (strong, satisfactory, weak). Note: Examiners should use appropriate tools (e. g. the CEO questionnaire,ICQs, and FDICIA internal control assertion work papers) and findings from all areas under examination, including the OCC’s review of the bank’s audit functions, when completing these objectives and steps. When substantive supervisory concerns about the adequacy of internal control or the integrity of financial reporting controls exist after achieving the following objectives and performing the following steps, examiners should consider performing additional examination procedures, such as using ICQs,for those areas of concern. If, after completing those additional procedures, examiners remain concerned about internal control adequacy or financial reporting control integrity, they should perform appropriate verification procedures to confirm the existence and description of bank assets.As an alternative, examiners may require the bank to expand its own verification program to include the areas of weakness or deficienc y; however, this alternative will be used only if management has demonstrated a capacity and willingness to address regulatory problems, if there are no concerns about management’s integrity, and if management has initiated timely corrective action in the past. Use of this alternative must result in timely resolution of each identified supervisory problem. If examiners use this alternative, supervisory follow-up must include a review of work papers in areas where the bank’s program was expanded The institution’s internal control is (strong, satisfactory, weak)Objective: Assess the overall effectiveness and adequacy of the institution’s internal control, communicate findings to the EIC, management, and the board of directors, and complete/update OCC work papers. 1. Prepare written conclusion summaries, discuss findings with the Rican communicate findings to management.Conclusion summaries should address, as appropriate,†¢ Whether the internal control environment poses actual or potential undue risk to the institution’s financial performance for any of the following reasons:– The magnitude of control exceptions. – Financial effect of inaccurate, untimely, or improper transactions. – Previous losses from fraud. – Claims against insurance policies. – Employee turnover. – Other high operational losses. – Violations of laws or regulations and nonconformance with established internal policies and procedures related to the internal control functions. †¢ The adequacy of internal control policies, procedures, and programs to control and limit risk in bank operations. †¢ Whether bank personnel operate in conformance with established policies and, if not, the causes and consequences of nonconformance. The adequacy of information on the internal control function received by the board or its committee†¢ Significant areas of control weakness identified by internal or exter nal audits or other control reviews and the board’s and management’s progress in addressing those weaknesses. †¢ Audit or other control review report findings not acted upon by management, as well as any other concerns or recommendations resulting from the review of internal control functions. †¢ Recommended corrective actions, if applicable, and management’scommitments. 2. Determine how the quality of internal control affects the aggregate level and direction of OCC risk assessments.Examiners should refer to guidance provided under the OCC’s risk assessment programs for large and community banks. 3. Determine how the quality of internal control affects the bank’s composite and component CAMELS ratings. In coordination with examiners performing information system/technology, asset management, and fiduciary reviews, communicate the effect of control findings and conclusions on Uniform Rating System for Information Technology (URSIT), Unifo rm Interagency Trust Rating System (UITRS),and compliance ratings. 4. Determine, in consultation with the EIC, whether the risks identified are significant enough to merit bringing them to the board’s attention in the report of examination.If so, prepare items for inclusion under the heading â€Å"Matters Requiring Attention† (MRA). MRA comments should cover practices that (1)deviate from sound fundamental principles and are likely to result in financial deterioration if not addressed or (2) result in substantive noncompliance with laws or internal policies or processes. The examiner should provide details regarding:†¢ Factors contributing to the problem’s and management Consequences of inaction.. †¢ Management’s commitment to corrective action. †¢ The time frame for any corrective action and who is responsible further action. 5. Update any applicable schedule or table and include a comment on internal control in the report of examination.T he comment should address†¢ Adequacy of internal control policies and processes, internal control and overall programs, personnel, and board oversight. †¢ Significant problems discerned by the auditors or other control reviewers that have not been corrected. †¢ Any deficiencies or concerns reviewed with management, any corrective actions recommended by examiners, and management commitments to corrective actions. 6. Prepare a memorandum and update OCC work programs with any information that will facilitate future examinations. Make recommendations about the scope of the next internal control review and determine whether internal control findings should change the scopes of other area reviews. 7. Update the OCC databases, including rating screens/schedules.