Online Financial Services Essay Example

Online Financial Services Essay Example Online Financial Services Essay Online Financial Services Essay Introduction Services What are services? They are defines as concerned with performing tasks in and around households, business firms and institutions. Services industries are those domestic establishments which are providing some kind of services to businesses, governments and other organizations. FIRE, business and health services are the largest service industries. Business services include activities such as consulting, advertising, marketing and information processing. Categorizing service industries With these service industry groups, companies can be further categorized into those that involve transaction broking and those than involve a ‘hands on’ service. For instance, one type of financial service involves stockbrokers who act as the middle person in a transaction between buyers and sellers. Online mortgage companies refer customers to mortgage companies that actually issue the mortgage. In contrast, legal, medical and accounting industries perform specific hands on activities for their customers. In order to provide their service, these professionals need to interact directly and personally with their client. In this the opportunities for ecommerce are somewhat different. Currently doctors and scientists cannot treat patients over the internet but internet can at least assist their services by providing consumers with information, knowledge and communication. Features of service industries Knowledge and information intensity – With some exceptions such as providers of physical services such as cleaning, gardening and so on, and the most important feature of service industries is that they are knowledge and information intense. They process a great deal of information and employ people with the requisite skill and expertise. For example lawyers for legal services. However, financial services sector is not so knowledge intensive, but it requires much larger investments in information processing just to keep track of transactions and investments. In fact the financial services sector is the largest investor in information technology, with over 80% of their invested capital going to information technology equipment and services. For this reason, many ecommerce services are suited to ecommerce applications and strengths of the internet to collect, store and disseminate information and provide reliable and fast communication. Personalization and customization – Services differ in the amount of personalization and customization required in them to be delivered but still all types of services involve some amount of it. Services like legal, medical and accounting require extensive personalization – the adjustment of a service to the precise needs of a single individual or object. Others allow individual some personalization to choose from a restricted as in case of financial services. The ability of internet and ecommerce technology personalize and customize service or components of service is a major underlying the extremely rapid growth of ecommerce services. Further the amount of customization also depends on the ability of ecommerce or internet to do so. Online Financial Services The online financial services sector is a shinning example of an ecommerce success story. With the innovative, pure online firms have been instrumental in transforming the brokerage industry, the impacts of ecommerce have been somewhat less powerful in banking, insurance and real estate where customers are more likely to use the web for research, but conduct research for traditional suppliers. In addition, pure online financial firms are not yet profitable. The costs of marketing and technology have far exceeded the early estimates of experts. As in the retail marketplace, it is the multichannel financial firms who are showing the fastest growth and strongest prospects of long term revival. Online Banking and Brokerage Online baking was pioneered in the US by NetBank and Wingspan in 1996 and 1997 respectively. Traditional banks had developed earlier versions of telephone banking but did not use online services until 1998. Although late by a year or two, the established brand name banks have taken a significant lead in market share as measured by number of unique visitors. Same goes as true for the brokerage firms as well Early innovators such as E*Trade and Ameritrade had been displaced from their leadership positions by the financial industry giant Fidelity and discount broker pioneer Charles Schwab. Merrill Lynch, The largest brokerage firm in the United States did not develop an online presence until 2000, but it rapidly added new clients after going online. Online Banking Behavior and Preferences Any belief {or maybe even wishful thinking) that the Internet is just a passing fad seems to be laid to rest by a new survey from CashEdge in New York. The survey polled more than 400 consumers nationwide who use online banking. Eighty-five percent of the survey participants said they would bank only with an institution that offered online banking capabilities. In addition, 82 percent said they would use more online capabilities if offered to them. Other survey findings noted that 87 percent of respondents have more than one institution where they keep their money. Along those same lines, 71 percent said they would prefer not to have to use checks or cash, but would rather use online funds transfers. Online usage has also created more of a demand for speedier service. Seventy-four percent of those polled said they expect a new bank account to be available for use the same day that they sign up for it. The popularity of online banking has been based on both speed and convenience. A majority (66 percent) of those surveyed considered having to go to a branch to be a chore. At the same time, 88 percent said they tried to cut down on their visits to the bank while 75 percent said that if they could, they would never go for a branch and would instead do all their banking online. Granted, these are online banking customers being polled, so the results may be somewhat biased. Still, the numbers do show a growing reliance on the Internet as a means for banking. Finally, customers polled said they do have concerns regarding online banking. Close to 50 percent cited security as a main concern about conducting banking transactions over the Internet. In addition, 14 percent said the issue of security keeps them from banking online. Online Mortgage and Lending Online mortgage lending is a growing field that is starting to seriously compete with traditional ‘person lenders’. The process is relatively easy. The important thing to remember is to make sure your know the ins and outs of any and all online home mortgage loans prior to submitting your personal information. In some cases, youll find fees can be much cheaper than traditional in person lenders. Further, you may discover a greater range of mortgage loan programs available. Among the highlights of these programs may be lower rates of interest and flexible repayment terms. Also, borrowers with a bad credit history may find online mortgage lending to be the answer to their prayers. In most cases, web-based lenders offer more alternatives to those with less than desirable credit ratings. Finally, it can shave a ton of time off of the traditional in person route and having to wait (what might be several days) to be approved. The bonus here is if you dont get approved the first time, you can apply to another lender right away and like the first time; youll get your answer quick. Its important to realize that not all online mortgage lenders have representation in all states. Before taking the time to apply online, its in your best interest to make sure that the lender in question is represented in the state in which you reside. A big negative is unfortunately accountability. Its your job as the potential borrower to do your homework and keep on top of your application. Its wise to check out the company to make sure theyre legit and will be able to fulfill any promises they make regarding terms and interest rates. Unfortunately with both traditional and online mortgage lending, the mortgage loan programs offered may be more in lenders best interest than in yours. Again, its so very important that you do some research and comparison shopping. Just like with traditional in person lenders you want to make sure that it is in your best interest not theirs. Another possible negative is the fact that some lenders will charge you a fee prior to you learning whether or not your application has been successful. Please note that some traditional lenders also ask for a fee upfront. Borrowers beware there are many legitimate traditional and online lenders than dont insist on such a fee. Unlike any negative dealings you may have with traditional mortgage lenders, online mortgage lending isnt regulated by a governing organization in which you can complain to. The bottom line is that while online mortgage lending may be the way of the future, its also important to research the lender and ask the right questions. And, while applying for a mortgage loan online may seem like a great idea, dont discount the value of getting a comparison quote from a traditional in person lender. Financial portals A website that provides a variety of financial data and information, acting as an information hub for clients who are individual investors requiring timely financial news and data to make their investment decisions. Financial portals are intended to give clients all the finance-related information they need. Often, the portals themselves will provide visitors with quotes, research, articles, analyst recommendations, etc. Financial portals may also provide links to various relevant sites that offer this kind of information. In addition, many financial portals provide email accounts, chat rooms and web forums. They provide their comparison with comparison shopping services, independent financial advice and planning. On the contrary, independent portal do not themselves offer financial services but act as steering mechanisms to online providers. They generate revenue from advertising, referral fees and subscription. Financial portals are a major source of visitors to major established financial services sites. For instance, about one third of visitors to Wells Fargo began their sessions at a financial portal. About 20% of visitors to established sites exit to portal sites. These have become so important to established online service firms that some providers like Charles Schwab and Citibank went ahead and have developed their own portals myschwab. com and myciti. om respectively, which permits users to personalize their financial web pages and provide account aggregation services. In general, financial portals do not offer financial services but instead they make their money from advertising and add to the existing online price competition in the industry. They are also a counter strategy of the large banking institutions to ensnare consumers into a single branded financial institution system with a single account and high s witching costs. Financial Portals are Hot, but for Whom? Suddenly-even by Internet time-the long sought one-stop financial portal has arrived. E-banking watchers are predicting that very soon, most big banks and some smaller ones will be sporting websites where customers can come to handle all of their financial affairs. Whats been missing until now is the ability to aggregate information and perform transactions that involve a customers accounts at rival institutions. Rich payoffs await the bank that can field a full-service financial portal. Its customers will likely visit he site more often, stay longer, and use more services. An early-adopting bank has the chance to become its best customers primary bank, where all financial information is consolidated into always-available net worth statements. For high-net worth customers, basic banking will likely evolve into online versions of what is now being called wealth management. Financial services industry trends The financial services industry provides four different types of services: sto rage and access to funds, protection of assets, means to grow assets, and movement of funds. These have been traditionally provided by separate firms. However, changing the institutional structure of the financial services industry has direct consequence for the online financial services. The trend contributing towards this cause is the industry consolidation or in other words movement towards integration financials services. Unlike in the traditional times, when banks were not allowed to operate in more than one area and industries like banking, insurance, brokerage were prohibited to from having significant financial interests in one another. Due to this concept only, some very small banks emerged in US in the past and it was also once called the most over-banked country in the world at that time. But this has long back faded into oblivion. Today the concept which is fast catching up is integration of financial services under one umbrella. Industry Consolidation and Integrated Financial Services Financial supermarket Most of the big online stockbrokers offer basic banking services like check-writing, automatic deposit, online bill payment and even A. T. M. cards. Now some companies are pulling out all the stops to convince customers to combine all their financial accounts with them, instead of keeping money at an assortment of institutions. This is called a financial supermarket. First, Bank of America announced that customers with at least $25,000 in traditional bank accounts - like checking, savings, money markets and certificates of deposit - could trade stocks free on the company’s brokerage Web site. Now some online brokers have sharply raised the interest rates they pay on checking accounts. Some time back, E*Trade Financial, based in New York, raised its top rate for checking to 3. 25 percent from 0. 8 percent. In late April, Charles Schwab bolstered its top checking rate to 4. 25 percent, from 2. 58 percent. Consumers have often preferred choosing their financial services a la carte - picking an interest-bearing checking account here, and a stock-trading site there. But financial services companies clearly have something else in mind. But there is dark side to it as well. Consumers should think carefully before combining their financial accounts with one company. The flip side to the convenience may be a decrease in investor privacy and data security. If a hacker broke into a company’s computers, then potentially they will know all of your sensitive information. People who combine their checking and brokerage accounts with one company should be prepared for cross-selling, the industry’s term for marketing many different financial products and services to customers. It is advised that customers should shop around before buying additional financial products, like mortgages and certificates of deposit, and not just to accept the rate at a company where they already have an account. Mortgages are a great example because the difference in cost over the life of a mortgage can be truly astronomical. The promise of internet and ecommerce technologies in the long rum would be to take the financial supermarket model one step further by providing a truly personalized, customized and integrated offering to customers based on their complete understanding in terms of his financial behavior, life cycle status, and unique needs. It will take time to accomplish this thing and also develop the technical infrastructure and consumer behavior toward a much deeper relationship with online financial service institutions. Online Financial Supermarkets. Dont bet on them. Big brokers would love nothing better, but consumers arent likely to bite At E*Trades Web site, you can buy shares in initial public offerings, do your banking, and get a 5% discount on a bottle of Le Parfum de Golf. At the American Express Co. site, you can pay your charge-card bill, trade stock, and book a flight to Kiev or Kuala Lumpur. Merrill Lynch Co. s ML. com will soon have $29. 95 stock trades, videos featuring Merrill market mavens, and an auction for diamond earrings. The Web sure is hip. But does anyone really want all this from a stockbroker? Financial-services companies have long wanted to create giant financial super markets. And financial services companies on the Web are no different. The goal has been to offer consumers banking, investments, insurance, loans, and financial planning in one convenient place. The strategy has failed for decades, and it will fail again online unless financial-services firms radically change the way they sell their products and learn to compete on price. The core difficulty for such would-be supermarkets is that they face a constant barrage of competition from companies pitching better products or services at lower prices. Just as online brokers squeeze commissions down to an average of $15 a trade, American Express offers free buy orders for customers with balances of at least $25,000. Just as portal Yahoo! Inc. popularizes a Visa card featuring 5% discounts for online purchases, startup NextCard Inc. offers similar shopping bargains plus a choice of cards with various rates and terms. And you can design the picture on your card yourself. For free. Funneling The truth is, it probably doesnt hurt to offer sideshows such as earring auctions and perfume discounts. The problem for the one-stop shops comes when they try to funnel online customers into high-priced, proprietary products, which may well alienate Netizens accustomed to saving money online. Those potential customers will click through and be on their way, and its not hard for them to find a better deal. At E-Loan Inc. , you can compare low-rate mortgages from countless lenders. At least a dozen sites offer insurance shopping services. And new firms such as VerticalOne Corp. and a host of others let you maintain multiple online financial accounts from different companies at one Web site. Internet or not, people dont want to be tied downsomething online brokers know all too well. Many customers use online trading as a mere adjunct to their primary accounts at full-service brokers. And if they arent satisfied with one online broker, theyll switch to anotherand complain about their problems on message boards for all to see. A Forrester Research study found that only 16% of consumers are willing to keep their assets in a single institution. And theyre not eager to give up choice, especially when new financial products and services pop up online all the time. The Web is a world where consumers are in charge, and they can move money in an almost frictionless environment, says Forrester analyst James Punishill. Its easy to understand why the financial industry is rushing to develop large-scale financial Web sites. Consumers want to consolidate their financial lives on the Webbut not with just one firm. Successful online companies wont try to pigeonhole customers into the same old proprietary products they sold pre-Internet. Theyll offer a broad selection, use the power of the Web to facilitate comparison shopping, and explain why a premium is justified for higher-priced products. In financial services, the Net has changed the rules. Account aggregation Account aggregation is a method that involves compiling information from different accounts, which may include bank accounts, credit card accounts, investment accounts, and other consumer or business accounts, into a single place. This may include a database or may be provided through screen scraping where a user provides the requisite account-access information for an automated system to gather and compile the information into a single page. Usually this database resides in a web-based application or in client-side software. While such services are primarily designed to aggregate financial information, they sometimes also display other things such as the contents of e-mail boxes and news headlines. One of the first major account aggregation services was Citibanks My Accounts service, though this service ended in late 2005 without explanation from Citibank. Much has been said in the financial services and banking industry as to the benefits of account aggregation principally the customer and web site loyalty it might generate for providers but the lack of responsibility and commitment by the providers is one reason for skepticism about committing to those same providers. The service helps users to manage their money on the Internet (typical desktop alternatives include Microsoft Money, Intuit Quicken etc) in an easy to use manner wherein they get functionalities like single password, one-click access to current account data, total net worth and expense analysis etc. Multiple U. S. financial institutions and credit unions are providing the service, however most of the time a vendor, such as Yodlee or Vertical One, is the technology solutions provider. Both these are the leading account aggregators. They use the screen scrapping technology and software tools to pull information from upto one thousand different financial sites. A smart mapping technology is also used sometimes so that if the underlying websites change, the scrapping software can adapt and still find the relevant information. Account aggregation has evolved with single sign-on at most major banks such as Bank of America. With SSO (usually implemented via SAML) major financial institutions are now expanding their aggregation services into new areas. Rich Presentment (getting all the information about a bill that you owe) is a service that uses Aggregation extensively, and can be seen at AOL, using AOL Bill Pay. Aggregation also powers applications such as Funds Transfer, New Account Openings, Card Based Bill Pay and so on. Independent Financial Advisors are another group that account aggregators are beginning to focus their attention. Having seen increasing competition from the wirehouses and breakaway brokers, positioning themselves as their clients primary advisor is not as easy as it once was. Account Aggregation should be able to help many of these advisors gain the competitive edge by providing a look into their clients held-away and non-managed accounts. Aggregators such as Advisor Exchange and CashEdge specialize in working with the advisor industry and provide historical, transaction level data that is normalized and reconciliation ready The main consumer and regulatory issues generated by account aggregation services include: Disclosure including disclosure about the risk of using an aggregation service; Liability for unauthorised transactions it is important to determine for losses caused by unauthorised transactions. For example, under the current regime, a consumer who discloses their password or PIN to an aggregation service may lose the protection offered by the EFT Code if an unauthorised transaction occurs; Liability for other losses for example, losses caused by misrepresentations, inaccurate information, poor quality of the service, downloading software, interruption of the service, etc; Privacy – e. g. ho has access to personal information, and what will the information be used for; Security especially the security of any location where account information is stored by the aggregator; consumer education; Complaints and dispute resolution most aggregation services surveyed do not appear to provide internal or external complaints resolution processes; Cost of aggregation services, and debt recovery; Cross-jurisdictional issues for example, what are the implications if the ggregator is based in another jurisdiction; Regulation of aggregators should they be subject to the same pru dential supervision framework and other regulations that apply to deposit-taking institutions and/or other financial institutions? ; The implications of the Financial Transaction Reports Act, which is designed to deter money laundering and tax evasion. Security Understanding Consumer Preferences for Authentication Methods Would online banking increase if financial institutions provided their customers with ways to enhance security? A new survey TriCipher Consumer Online Banking Study, suggests that may well be the case. Conducted by Javelin Strategy Research, the survey found that 31 million U. S. consumers would begin banking online and another 39 million consumers would increase their online banking activity if offered free identity protection software by their banks. In fact, this authentication method was chosen by 53 percent of respondents. The second most popular authentication method- chosen by 33 percent of survey respondents- was biometrics, which uses a dedicated hardware device to verify such physical characteristics as a fingerprint. The survey also tracked consumers preferences of the following authentication methods. E-mail or SMS One Time Password (21 percent): An e-mail or text message is sent with a random second password. OTP Token (20 percent): A small electronic device provides a constantly changing password. Out-of-Band (16 percent): A call is made to a registered phone number, requesting that a user enter his or her password over the phone, Peripheral Device Recognition (15 percent): Connection of a removable device (e. g. iPod, cell phone) owned by the consumer Scratch-off Card (11 percent): A card containing several PINS that are scratched off one at a time Exploring the Electronic Vault With electronically signed documents growing in popularity, especially for processing mortgages, banks are facing the question of how to protect and manage them. Banks must provide airtight security, yet at the same time make the documents accessible to a broad range of personnel. Electronic vaults can solve the problem, according to ‘Advanced Electronic Vaulting Solutions. A white paper from eOriginal, a Baltimore based provider of electronic document solutions. An electronic vault, as defined in the companys white paper, manages the legally binding. Authoritative Copy of an electronically signed contract or other document, and possibly its related transaction documents, in a secure location where it is held and transitioned during the entirety of its lifecycle, Electronically signed documents have been legally viable since 2000, when President Clinton signed the Electronic Signatures in Global and National Commerce (E-SIGN) Act into law. When an electronic vault is in place, once a document has been e-signed, a final copy is immediately sent to an electronic vault, where access can be controlled. From then on, a log will keep track of anyone who accesses the document, including such functions as printing or copying. An electronic vault can provide additional benefits beyond chose of security and access. For example, using electronic vaults can demonstrate that an institution has an original, untampered document, which enhances the integrity of the document. In addition, the secondary market requires that documents be stored in a secure, closed system, and electronic vaults fit the bill. An effective vault system can even indicate the new owner of a loan document, without tampering with the original document in any way. When judging the effectiveness of an electronic vault system, financial institutions should consider several requirements: 1. All documents should be protected, encrypted and time-stamped. 2. Privileged access rights to the documents should be maintained and enforced. . A complete audit trail should be kept for each document, including document access and transfer of ownership. 4. The document should be tested on a regular basis to determine whether any alterations have been made. 5. A vault system must be able to destroy an electronic original in the case where a paper copy becomes the legal version. Financial industry requirements for better authentication The success of this Web-based channel has bred new problems, pri marily in the orm of new types of online fraud, online versions of traditional fraud, or offline fraud that leverages vulnerabilities in online services. So far, the financial industry has been remarkably effective at controlling this fraud,1 but financial institutions cannot assume that current fraud-control measures will always be effective, and in any case the public visibility of fraud schemes such as phishing is eroding consumer confidence in the safety of on-line financial services, which troubles both financial institutions and their industry regulators. One fundamental issue is authentication. Consumers are not as sure as they should be of the legitimacy of the Web sites they interact with, while the ability of financial institutions to authenticate their customers is being undermined by phishing schemes and other attacks aimed at stealing passwords and other sensitive information. The net effect is that people are losing confidence in the safety of conducting their financial business on the Web, which will have a negative impact on the growth and adoption of online financial services no matter how effective the financial industry is in controlling actual fraud losses. Government regulators, of course, are also concerned about this trend. With these concerns in mind, the Financial Services Technology Consortium (FSTC) last year initiated a project aimed at defining â€Å"Better Mutual Authentication† practices for online delivery of retail financial services. This project has brought together major financial institutions from the banking and securities sectors, along with leading technology vendors, industry associations and observers from government agencies. New insights have emerged from this Project regarding the nature of authentication in a Web/Internet context, including the conviction that- although the necessary technology is largely available in theory- current Web authentication practices must be substantially improved if customer confidence is to be restored. FSTC’s BMA Project encourages and supports efforts by W3C to coordinate broad-based initiatives to improve Web authentication, and Project participants are likely to contribute to, or leverage, W3C’s initiatives. From the FSTC BMA Project’s perspective, requirements need to be addressed in the following eight areas: 1. Usability 2. Mutuality 3. Credibility2 4. Scalability 5. Availability 6. Interoperability 7. Flexibility 8. Adaptability For financial services, the first three- usability, mutuality, and credibility- are the core requirements. Usability is vital. Embedded in the hardware, operating system, browser, and internet services available today in the average computer is a truly impressive array of security technology, but it’s nearly impossible for the average consumer to make effective use of it, or even to determine if it is working correctly. Customer confidence in financial services can only be achieved if customers are able to confirm through trustworthy user interfaces that their Web interactions are safe. At the same time, customer safety depends on protection from impostors who may attempt to impersonate either the customer to the financial service, or the financial service to the customer; hence, the need for mutual authentication. Credibility2 of authentication requires that both customer and financial institution confirm the authenticity of the other party using something better than just passwords or other shared secrets. Beyond these core requirements, no authentication solution can be effective for retail financial services unless it can scale to support the entire consumer population. And consumers will resist adopting any new measures that impact availability of services, or that are too likely to break. Given the diversity of consumer needs, various authentication techniques will be required, and so interoperability is essential. Evolving consumer requirements indicate that flexibility is necessary to allow consumers to utilize multiple platforms in an anywhere, anytime online context. And, emerging threats and ever more sophisticated attacks from increasingly organized adversaries implies that viable solutions must be adaptable to a range of new threat scenarios. FSTC’s BMA Project participants recognize that the problems of Web authentication cannot be addressed by any one organization, or even by an entire industry acting alone. Instead, a coordinated approach is required involving: Operating System (OS) developers Providers of end-user computing platforms- e. g. PCs, mobile devices Browser developers/vendors Web server software vendors Vendors of authentication techniques PKI service providers Web content providers- e. g. , financial institutions Internet Service Providers (ISPs) Standards-setting organizations Industry associations Government agencies End users- e. g. , consumers, citizens W3C is well positioned to bring together many of these players to establish common objectives and align their respective strategies. Financial Industry Re commendations Leverage PKI More Effectively – PKI alone, as currently implemented, does not allow a user to distinguish between a financial institution Web site and one that, although belonging to an impostor, has nevertheless obtained some sort of certificate and supports https sessions One possible approach would be for the financial industry to establish new guidelines for a restricted subset of the existing certification hierarchy that would issue certificates only to financial institutions, and then to add new indicators to the browser â€Å"chrome† that would let the user know whether a site’s certificate is certified by this â€Å"strong† certification hierarchy. Engage End Users in Mutual Authentication Perhaps the greatest concern with current Web authentication practices is that end users- the customers of financial nstitutions- are severely handicapped in their ability to know if the Web site they are viewing is legitimate or an impostor. The financial industry would like to see new approaches to Web authentication that actively engage the user in authenticating Web sites (financial services) as well as providing stronger evidence of the user’s authenticity. This will require active, two-way communications with users that provide consistent, understandable interfaces into the complete authentication process. However, user engagement should not become an additional burden or hurdle to be overcome. Instead, users should, at the very least, be given a dashboard they can trust and that provides the information they need when they need it, including useful alerts or warnings. Achieve Synergies with Alternative Authentication Techniques The financial industry recognizes that reliance on passwords alone is no longer adequate, given the current threat levels. Furthermore, the industry must address new regulatory guidance3,4 that calls for use of alternative authentication techniques that protect consumers from password theft and abuse. Multi-factor authentication is widely viewed as one of the more effective alternatives available to financial services providers. However, there are significant challenges with rolling out new authentication techniques that will adequately scale up to the many millions of consumers that already use online financial services. In particular, consumer adoption is a major concern. Improve Techniques for Managing Passwords No matter what new authentication techniques get deployed, the financial industry will continue to utilize passwords and other shared secrets that can be exchanged bi-directionally between customers and Web sites. Browsers already provide password management tools for users, and increasingly serve as the preferred â€Å"password vault† for end users. Unfortunately, this concession to user convenience also heightens exposure to potential abuses, and financial institutions are increasingly concerned about the mounting threats to their financial services and customer interests. Browsers also provide various means for end users to enter passwords through special-purpose dialogs, though all of these mechanisms are considered deficient in one way or another. The financial industry would like to see new password entry procedures incorporated into browsers that require prior establishment of TLS (SSL) sessions and that enforce effective security practices for use of passwords. Growing importance Small-biz adoption of online banking to surpass 50% More than half of U. S. small businesses will have adopted online banking by the end of 2007, according to a new research report. Small-business use of online banking grew dramatically from 1998 to 2007, and Tower Group, a Boston-area research firm focused on the financial-services industry, estimates a further 10-percent penetration by 2010. Despite the growth and revenue potential of small-business online banking many financial institutions continue to under-serve this vital market, Tower Group says its research shows. While 95 percent of banks in the U. S. offer a dedicated small business online-banking product. Many banks simply provide a re-branded version of consumer online offerings - rather than creating more advanced features that meet the unique needs of small businesses, the research firm contends. Small-business owners straddle the line between consumer banking and corporate cash management. They appreciate the simplicity of retail online banking, yet value the features such as multiple user access and electronic payments found in corporate online banking, Tower Group contends. Banks, credit unions and emerging non-bank competitors of all sizes are chasing the small business market in an effort to capture a share of this expanding segment, said Patricia Hines. senior analyst in the Wholesale Banking practice at Tower Group and author of the research. Highlights of the research include: In order lo retain existing small business customers, banks offering minimal features must expand online capabilities. Tower Group research found that less than 50 percent of banks include electronic payments in their small business online banking offering. At the upper end of the feature set, Tower Group expects banks to increase integration with other high-value online services such as employee payroll, merchant services, and investment management.

Writing a Thesis Statement for an Academic Paper

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Price Controls applied by the Qatar Government Literature review

Price Controls applied by the Qatar Government - Literature review Example Agriculture is also a vital sector in the Qatar economy because of the objective of Qatar, which is food security. Qatar is the main importer of agricultural goods.   Price Floors regards the minimum prices put by the government for particular goods and services, which it considers producers to be trading in an unjust market with very low prices, and hence such producers, need some assistance. Price floors become a problem when the government puts them higher than the equilibrium price. Once the prices are higher than the market price, there is a likelihood that there will be a surplus or excess supply. In case this takes place, producers who cannot predict difficulty ahead will make the bigger quantity where the new price crosses their supply curve (Wessels, 2006). Clients will not purchase that many products at a higher price and so those products will end up unsold. There could be a serious economic depression if producers notice that there is insufficient demand, and in reactio n reduces production. There exists deadweight loss linked with this decrease in quantity, mirrored in the loss of producer and customer surplus at lesser points of production. This policy can be of benefit to the producers, although only if they have an elastic supply curve and thus they do not have any net loss. This type of government does not favor consumers. They are the losers, as they pay high prices and the certain prices drive some out of the market, as they cannot afford the products. There are many policies of the government for putting up a price floor and handling its consequences. They may put an easy price floor, put production quotas or employ price support. In Price supports, the government puts a minimum price, and then purchases all the surplus or excess supply (Carbaugh, 2011). This is normally more incompetent and expensive for the government and community as a whole than for the government to subsidize the firms concerned. Either the Production quotas increase t he price by limiting production using authorized quotas or giving firms incentives to decrease their production. In Qatar, for instance, the government applies these techniques extensively with oil and agriculture. The government compensates the farmers to maintain some parts of their lands uncultivated, hence increasing prices.  Ã‚  

Homelessness Essay Example | Topics and Well Written Essays - 500 words - 2

Homelessness - Essay Example There are a number of factors that have contributed towards homelessness in the nation. The National Coalition for the Homeless (NCH), in this regard, identifies two dominant trends that have been responsible for the rise of homelessness: â€Å"a growing shortage of affordable rental housing and a simultaneous increase in poverty† (National Coalition for the Homeless, Why Are People Homeless?). Poverty and homelessness are interrelated as poor people very often are forced to sacrifice their desire for housing in order to meet other basic needs food, clothing and healthcare. Unemployment, unstable employment, low-wages, lack of affordable housing for the poor, excessive waiting lists for public housing, and decline in public assistance are other significant predictors for homelessness (NCH, Why Are People Homeless?). It is worthwhile to review the definition of homelessness and to identify the dominant demographic characteristics of homelessness in the nation. Homeless people are defined as â€Å"individuals who lack a fixed, regular, and adequate nighttime residence;† this definition takes into account people who share the housing of others; people who live in motels or camping grounds; people who are in emergency or transitional shelters; abandoned children who await foster care placement; and migratory children (NCH, Who is Homeless?). Reviewing the demographic characteristics 39% of the homeless population comprised of children below the age of 18 whereas 25% of the homeless were individuals in the age category of 25 to 34 (NCH, Who is Homeless?). Similarly, males were more likely to be homeless than females. However, homeless families with children have considerably increased in the past decade. Regarding the ethnicity of homelessness, African-Americans form the majority of the homel ess population (49%) followed by Caucasian (35%), Hispanic (23%), Native American (2%), and 1% of Asians (NCH, Who is Homeless?). It has also been observed by NCH that

Active Perception Essay Example for Free

Active Perception Essay The Wikipedia article on perception defined passive perception theory which states that perception is a phenomenon that results from a sequence of events. First, the sensory information is taken in which the senses process and interpret. After processing the information, a response to the information is generated. The best way to illustrate this theory is by observing how an old computer works. Data are fed on to the computer which it processes and interprets after which, a response to the data is produced. However, recent studies show that perception does not occur in such a simple, linear manner. Rather, the information, the input or senses, and the description or interpretation of the information interact with one another and form a dynamic relationship. The Wikepedia article on perception refers to this occurrence as active perception. In addition, Freeman (78) claimed in his article that perception is a physiological phenomenon which is more complex than it appears. Previous studies reported that the cerebral cortex is responsible for the analysis of the sensory information. However, recent studies revealed that the brain does more than merely analyzing sensory information by extracting its features. The process of perception involves the past experience of an individual which he or she relates to the sensory message. This stimulus (sensory information) and its particular meaning to an individual are expected to be identified based on his or her previous experiences. Millions of neurons are simultaneously at work during perception which Freeman referred to as the brain of chaos. The brain of chaos is complex behavior of neurons that appears to be random but possesses some hidden order in actuality. Various neurons abruptly and simultaneously shift â€Å"from one complex activity pattern to another in response to the smallest of inputs† (Freeman 78). Freeman (78) speculated that the brain of chaos makes perception possible. This could explain why some people instantly recognize the distinct smell dental clinics and dislike it due to their terrible experience in a dental clinic in the past. In the same way, the underlying theory on active perception could explain why people can recognize a famous actor, the aroma of their favorite food, and a close friend’s voice at once (Freeman 78). All activities in one’s life require perception. It is one of the bases of behavior, beliefs, values, attitudes, and preferences. Perception is also important in decision-making and responding to external events. When shopping, for instance, the items that the buyer purchased (and those that he or she rejected) are a reflection of his or her perception on the items’ price, quality, function, and overall attractiveness. Hence, understanding perception works is very important. By understanding the underlying processes involved in perception, how the behavior, beliefs, values, attitudes, and preferences of an individual are formed would be determined. The cognitive and affective processes involved in decision-making and responding to external events would also be understood by conducting research on perception. Knowing the reason why people behave or think in a certain way would greatly contribute to understanding others. Certainly, when people understand one another, personal relationships would improve, while the activities that directly involve people such as a psychological therapy or a marketing approach would be more effectively implemented. In conclusion, perception is a complex process which is not limited to a passive process of obtaining sensory information. Rather, it is a process that involves past experience and a dynamic relationship between the information, the input or senses, and the description of the information. It was also discovered that perception is a complex brain activity in contrast to previous findings which state that perception occurs at the cerebral cortex. By understanding the process and concept of perception, people would be able to learn how behavior, beliefs, attitudes, preferences, decision-making, and response to external events are formed. Works Cited Freeman, Walter. â€Å"The Physiology of Perception. † Scientific American, 264 (1991): 78-85. â€Å"Perception. † 20 November 2007. Wikepedia. 20 November 2007 http://en. wikipedia. org/wiki/Perception.

Tropical Rain Forest Soils of La Selva Essay -- Ecology Wildlife Natur

Tropical Rain Forest Soils of La Selva Tropical rain forests across the globe are currently threatened by massive deforestation for logging, grazing, and cultivation (Otzen 1993). Such land-use practices alter temperature regimes (Fernandes and Sanford 1995) as well as ground, soil, and surface water, flora, fauna, and microorganisms (Otzen 1993). These changes may result in a loss of soil organic matter, a decrease in soil fertility (Garcia-Oliva et al. 1994, Tissen et al. 1994), severe soil erosion (Otzen 1993), and changes in soil structure and chemistry (Fernandes and Sanford 1995, Sollins et al. 1995, Montgagnini and Sancho 1994.) The response of tropical rain forest soils to deforestation depends upon the specific properties of the soils as well as the type of use they are subject to. La Selva Biological Station, located in north-central Costa Rica and containing a mixture of pasture, second growth, and intact forest, provides an excellent opportunity to study the effects of deforestation on examples of three soil orders--Entisols, Inceptisols, and Ultisols. Although limited studies have been conducted on the impact of deforestation on soils in this area, a knowledge of their properties may help predict the nature of the changes that would occur due to deforestation. Such changes will determine whether or not rejuvenation of the rain forest is possible. All soils at La Selva are derived from volcanic parent material. This material came primarily from eroded lava flows, although some material was carried in lahars. At higher elevations, soil parent material consists of lava weathered in place. Both alluvial and colluvial deposits cover the lower elevations, however, which include river terraces of various ages. Mos... ...s: Biogeochemistry (Dordrecht) 6: 181-89. Sollins P., Sancho, Freddy, Mata, Rafael, Sanford, Robert L. Jr., 1994, Soils and soil process research, pages 34-53 in McDade, L. A.; K.S. Bawa; H.A. Hespenheide; and G.S. Hartshorn (eds.), La Selva Ecology and Natural History of a Neotropical Rain Forest: Chicago, University of Chicago Press, 486 p. Tidall, J.M. and J.M. Oades, 1982, Organic matter and water-stable aggregates in soil: Journal of Soil Science 33: 141-63. Tissen, H., E. Cuevas, P. Chacon. 1994. The role of soil organic matter in sustaining soil fertility. Nature 371: 783-785. Uehara, G. and G. Gillman, 1981, The Mineralogy, Chemistry, and Physics of Tropical Soils with Variable Charge Clays: Boulder, Colorado, Westview press. Vitousek, P.M. 1984. Litterfall nutrients cycling and nutrient limitation in tropical forests. Ecology 65: 285-298.

Gender Speech Community Essay

Abstract This research paper will focus on the human language. Human language is extremely significant for all peoples. My main topic for this paper is how we use and develop language, the production of language, language acquisition and the importance of the critical period. Chomsky, Skinner, and Whorf all had various theories on language but all had one major thing in common, which was the significance of language. Regardless of when or how language is developed; it is essential to have living in environment where every one using language to talk, learn and receive knowledge. The Ways in Which People Use and Develop Language and The Effects it May Have on a Person If a person does not develop oral language this will affect the way in which people communicate with other people. From birth throughout their lives time people are taught the uses of language and create a way of communication. Language is the main component for all humans. â€Å"The use of language-the communication of information through symbols arranged according to systematic rules-is a central cognitive ability, one that is indispensable for us to communicate with one another† (Stapel & Semin, 2007; Hoff; 2008; Resiberg). Language is essential to how we communicate, think, and understand the world. Without language our ability to convey information, obtain knowledge and cooperate with others would be hindered. This paper looks at Chomsky, Benjamin Lee Whorf and B.J. Skinners theories on language acquisition and why language it is so important to have and what could happen to a person if he/she were isolated from society. In order to comprehend how language is created and relates to thought, we first need to know that the basic structure of language is grammar. Grammar is a set of rules that clarifies how our thoughts can be articulated. There are three main elements that go with grammar; they are phonology, syntax, and semantics. Phonology is the study of the smallest unit of speech called phonemes. Phonemes are the way we use sounds to form words and produce meaning. Syntax deals with how words and phrases can be united to form sentences and semantic rules allow us to express meanings to words. Feldman, Robert S. (2011). Although many people may have a hard time explaining the meanings of these words, we all subconsciously use grammar every day in a linguistic way! Language starts during infancy from three months through one-year- old. Children begin to make insignificant speech like sounds that is called babble. In the textbook Feldman, Robert S. (2011) stated that while babbling, they produce, at one time or another, any of the sounds found in all languages, not just the one to which are exposed. Even deaf children demonstrate their own form of babbling, who are incapable to hear, yet who are exposed to sign language from birth babble in their own way. In the same textbook I stated before Feldman, Robert S. (2011); indicates that babies’ babbling imitates the precise language being spoken in the infant’s environment which focuses more on the pitch and tone of the person talking to the child. As the baby gets older, he or she starts to specialize in the language that they were exposed to from birth. To support what I am saying I read an article called Language and Brain Development â€Å"Jump Start† copyright United Feature Syndicate stated that â€Å"a child is introduced to language virtually at the moment of birth. Children do not require explicit language instruction, but they do need exposure to language in order to develop normally. Children who do not receive linguistic input during their formative years do not achieve native like grammatical competence.† There were three theorists that had their own speculation on language acquisition but intertwined with my thesis. Let us begin with Noam Chomsky. Chomsky was a very well- known linguist. He believes that human brains have a language acquisition device that we are inborn with. All children are born with a universal grammar that makes them amenable to the common features of language because of this hard-wired background in grammar; children easily pick up a language when they are exposed to its particular grammar. Http://www.brighthubeducation.com/language-learning-tips/71728-noam-chomsky-language-acquisition-theories/. Basically Chomsky believed that all children develop language around the same age and all develop language skills rapidly and naturally. The next theorist was Benjamin Lee Whorf. Whorf’s theory is that children will learn language skills through interaction with others rather than obtain the knowledge involuntarily. He was recognized for his study that focused on a person’s thinking skills, how their ideas and expressions all depend on language. He anticipated a theory called â€Å"linguistic relativity.† This theory determines the way people think. In other words â€Å"â€Å"we think in terms of words or other symbols, and they are required as a precondition for a human to form an idea—or, at least, to express the idea to others. Although thinking involves mental manipulation of reality, it is heavily dependent upon words or other symbols.† Bergman. Jerry (Benjamin Lee Whorf: An Early Supporter of Creationism). My last theorist was B.F. Skinner. Skinner thought language is attained through standards of conditioning, association, imitation and, reinforcement. The difference from Chomsky and Skinner one believed he or she is born with language where Skinner believed that people have to be taught how to speak by some one’s language acquisition. All three theorists have their own assumptions on language acquisition. Chomsky believes we are born with the skills for language. Skinner believes children is learn through imitation that focuses on behavior and Whorf thought language was developed by interaction with peers rather than being born with it. The one major factor that they all share is the importance of language from birth. If children are deprived of language from the start they will suffer drastically, which proves my statement in the beginning; which was, children who are isolated from language and communication from the early ages will deal with major effects when they are older. A major period that some theorists believe is crucial for language development is called the critical period, which can cause many effects in learning language. From the article â€Å"Introduction Brain and Language† explained what the critical-age hypothesis was. This theory believes language is organically based and the capacity to learn your inhabitant language develops from birth to middle childhood. Subsequent to this period, the attainment of grammar is complicated for most people and never fully grasped. Children who are not exposed of language during this critical period will have a difficult time overcoming this deficit. This concept can be proved to be true in humans and other species. 22. Introduction Brain and Language gave an example of ducklings. For instance, from nine to twenty-one months after hatching, ducks will follow the first moving object they see regardless if it is a duck or not. This behavior did not come subconsciously but from an â€Å"external teaching, or intensive practice.† Other examples of the critical period that is strongly associated to language learning is the critical period in certain songbirds, e.g., zebra finches or white crowned sparrows (Marler, 1970). For children there have been cases that support this theory. For instance, there was a young boy who was isolated from society also known as the â€Å"wild† child. In the film produced by Francois Truffaut â€Å"The Wild Child† was based on a young boy named Victor. It was determined that he was left in forest and survived shockingly. (Language and Brain Development 23.) In the YouTube documentary we learned that Victor was not capable to speak or recognize language. He was brought to Paris where he was first put into a deaf school, but after Francois Truffaut observes Victor he believes he can hear and can be educated. After a while, Victor begins to gain some kind of language from being in society. (http://www.youtube.com/watch?v=_dA2W0SwIwY). Another perfect example that supports the conjecture of the critical period is a girl named Genie. Genie as well as Victor was a wild child. Genie was abused and isolated from all society from eighteen months to about fourteen years of age. Genie was restricted to a small room under terrible conditions and received minimal to none of human contact. Genie was not able to talk or knew any language at all. (Language and Brain Development 23) said â€Å"this linguistic inability could simply be caused by the fact that these children received no linguistic input, showing that language acquisition, though an innate, neurologically based ability, must be triggered by input from the environment.† Like Victor, Genie learned some kind of language but lacked â€Å"grammatical structure.† Possessing language is essential to have living in a society. Without language you would not be able to communicate, give, and receive knowledge. For instance Genie; in (Introduction Brain and Language) said â€Å"The cases of Genie and other isolated children, as well as deaf late learners of ASL, show that children cannot fully acquire language unless they are exposed to it within the critical period—a biologically determined window of opportunity during which time the brain is prepared to develop language.† People use and develop language in their lives and it is important to have developed it in an early age. References Feldman, Robert S. (2011). Essentials of Understanding Psychology â€Å"Jump Start† copyright . United Feature Syndicate. Reprinted with permission. Introduction Brain and Language http://suite101.com/article/how-we-learn-language-a158847 Aitchinson, Jean (1976). The Articulate Mammal: An Introduction to Psycholinguistics. London: Hutchinson & Co. http://www.healthofchildren.com/L/Language-Development.html http://www.icr.org/article/6391/ http://www.youtube.com/watch?v=_dA2W0SwIwY

Acquaint yourself with the characters in the story Essay

Read through the story and write down a few points that summarise the plotof the story. Acquaint yourself with the characters in the story. plot The structure of the storyline, the way in which the action develops. This will usually include the settings, the development of character, crisis or climax and resolution   The plot is about two young people, Sandra and Kerry, who belong to the Good Neighbours’ Club.   They go to do volunteer work at Mrs Rutter’s house. She is an elderly lady who lives past Packer’s End, a field that was said to be haunted. Sandra is not pleased that it is Kerry she is working with, as she had hoped it would be her friend, Susie.   After some time, Mrs Rutter tells them the story of what really happened at Packer’s End during the war.   An enemy plane was shot down over the field and she and her sister (Dot) went to investigate the crash.   They found the plane, but also found one of the soldiers in it still alive.   Because it was the enemy and because her own husband had been killed in the war, Mrs Rutter leaves the soldier to die overnight. When they arrive at the scene the next morning, he is still alive, but they don’t get any help for him. * The young people are shocked by what she tells them and Sandra suddenly sees Mrs Rutter in a new light, but she also sees Kerry in a new light. Sandra She is a young girl who is a volunteer at the Good Neighbour’s Club. She tells us that she is â€Å"nervy† and we see this when she walks past Packer’s End. She describes how when she was younger she had thought there were wolves and witches and tigers in the wood. This changed and when she was about twelve she heard that a German plane had gone down there, but had also heard stories about gypsies and rapists. She is a conventional young girl who would like to have a â€Å"bit of a giggle† with her friend, Susie, and is disappointed that Kerry Stevens with his â€Å"blacked licked-down hair and slitty eyes† was joining her at Mrs Rutter’s. Kerry is described in detail in lines 135 – 139. What does this description suggest to you? It is mostly about his appearance – acne, pale flesh – all that Sandra is concerned with is his appearance at first. This changes at the end of the story. She doesn’t know how Kerry can stand having dirt and grime under his nails from working on cars and â€Å"she thought of oily workshop floors, of the fetid underside of cars† (line 207). She thinks that Mrs Rutter will be old and kind and thinks that â€Å"old Mrs Rutter with her wonky leg would be ever so pleased to see them because they were really sweet, lots of the old people† (lines 93 – 94). Mrs Rutter She is seen at first to be a typical old lady who lives at Nether Cottage and is described as â€Å"a dear old thing, all on her own† (lines 4 – 5). Her behaviour and the setting of the cottage (see Setting) portray her as ordinary. She is described as â€Å"a cottage-loaf of a woman, with a face below which chins collapsed into one another, a creamy smiling pool of a face in which her eyes snapped and darted† (lines 97 – 99). This description of her appearance certainly doesn’t convey anything but a gentle old woman. Kerry Stevens He is a typical teenage boy with acne and â€Å"blacked licked-down hair† who is pleased when he gives Sandra a fright when they meet at Packer’s End. He is shocked by Mrs Rutter’s story and vows never to go â€Å"near that old bitch again† (line 364). Setting Packer’s End and Nether Cottage are where the story takes place. Packer’s End is described as a scary place where dreadful things have happened – â€Å"You didn’t go by yourself through Packer’s End if you could help it, not after teatime, anyway† (lines 30 – 31). Nether Cottage is described as being filled with sweet ornaments and pictures. Look at the description in lines 101 – 105 and try to imagine what the room looked like. Does this tell us anything about Mrs Rutter? The room is cluttered, but quite homely. The ornaments are all of rabbits and kittens and milkmaids and children – these are hardly sinister. She comes across as someone who likes collecting memorabilia Look at the description in lines 144 – 145 â€Å"a composite chintzy mass from which the cushions oozed and her voice flowed softly on. † This is a cosy description which portrays her as a nice old woman. The structure of this story relies on the reader ‘getting to know’ Mrs Rutter as a gentle woman who lives alone and is quite helpless because of her â€Å"wonky leg†. When she does tell us the horrific story of the plane going down and her and Dot’s failure to save the man who is still alive, it becomes all the more horrific and we realise, with Sandra, that people are not always what they seem and that there is definitely â€Å"darkness out there. † This makes the realisation that much more startling and effective. â€Å"Everything is not as it appears, oh no† (line 384). We are also then able to comprehend why Sandra sees such a change in Kerry. The change in Kerry is also well set up as in the beginning, from Sandra’s descriptions, we are led to believe that he is not special and yet at the end Sandra says things like â€Å"He had grown; he had got older and larger. His anger eclipsed his acne, the patches of grease on his jeans, his lardy midriff†¦ † (lines 373 – 375). Look at the last two paragraphs: pick out the images of darkness. How do these images link to the story and to the title? â€Å"You could get people wrong and there was a darkness that was not the darkness of tree shadows and murky undergrowth†¦ † (lines 375 – 377) â€Å"†¦and the next you glimpsed darkness, an inescapable darkness. The darkness was out there and it was a part of you and you would never be without it, ever. † (lines 380 – 382) These quotations refer to darkness, because the speaker in the story has just glimpsed inescapable darkness herself in the form of Mrs Rutter. This has changed the way she thinks about other people and the way in which she will view the world from now on. She says it will be with her for ever and she will never be without it now that she knows what it is. She will never be able to see a person, no matter how nice and innocent they look, as just that. This story deals with a young girl’s realisation about life. Her whole outlook on life changes at the end of the story. Choose one other story in the anthology that deals with this issue and show how the authors present this issue to us. Describe what the issue is and look at how their characters deal with it. (A good comparison would be Superman and Paula Brown’s Snowsuit. ) Show preview only The above preview is unformatted text This student written piece of work is one of many that can be found in our GCSE Joseph Conrad section.

Glengarry and good faith essay

Glengarry and good faith essay Glengarry and good faith essay Glengarry and good faith essayThe problem of the negative impact of the pursuit of wealth on the morality of people and society is still relevant because the pursuit of wealth is still one of the primary concerns of the contemporary culture. However, such purposes may ruin life of people since such goals as wealth and prosperity are not always achievable for them. At this point, it is possible to refer to the film Glengarry Glen Ross and the novel Good Faith, which reveal the full extent to which the desire of their main characters to retain their positions and improve their financial position turned out to be destructive for their life. In such a context, the film and the novel show that even good intentions may lead characters the wrong way, when stakes grow too high and they can or are forced to commit crimes and deceive their business partners.Good Faith raises the problem of the failure of the intrinsically good character to succeed because of the deception and scheming of his b usiness partner. Joe is a good person and he does his best to survive in his business but the partnership with Marcus turns out to be the total failure as Marcus actually steals the money and puts Joe’s business on the edge of survival. Such a situation is apparently unfair in relation to Joe, who works hard and does his best. Similarly, Gordon also relies heavily on their business partnership but together with Joe, they turn out to be unsuitable for business because they do not deceive their business partners as Marcus does.In such a way, the author of the book does not just show the personal tragedy of the main character but also raises the problem of the failure of a good person to succeed in business as if the author wants to show that business is often immoral and people driven by ethical rules and norms cannot survive in it. Jane Smiley wants to uncover the true face of business and existing socioeconomic order, where there is no room for ethical decisions and rules. In stead money rules the world and business is driven by the only purpose of gaining more profits. In fact, the main rule of the business is the ends justify means which is obvious from actions of Marcus. He is the character, who disrespects any moral norms and values but is fully devoted to the idea of becoming a wealthy person.The main character of the book is not able to deceive and seems to be a bit simplistic in his views on business and business partners. The book shows that such people cannot survive in business because, in their attempts to gain wealth, they are likely to fail, while the pursuit of wealth turns out to be destructive for moral values of individuals, as is the case of Marcus, who deceives his business partners without any regrets or remorse.Jane Smiley shows that there is no room for moral people, who have learned basic moral norms once and try following them throughout their life, even when they are in business pursuing wealth and prosperity. Joe’s motto is â€Å"selling old houses to decent people† (Smiley, 48), but in actuality, his business is not as simple as that. On the contrary, he has to sell above all to make money and to succeed in his business, in such a way. There is no room for moral choices.In such a context, Joe may be viewed as the protagonist of the novel, whereas Marcus is the antagonist of the novel. At any rate, he is absolutely different character compared to Joe. Marcus is a true savvy of business. He knows how to make money fast and he actually earns money from everything that is his motto which apparently contrasts the motto of Joe, which is definitely moral by its nature. However, Marcus has those qualities, which are essential for the successful business and crucial for success, when a person pursues wealth as his/her ultimate goal. In contrast to Joe, Marcus does not have any moral values that could restrict his actions in relation to other people and his business partners. Business is not his ultim ate goal because he could run a successful business together with Joe and Gordon, but he preferred to take the money and get away.Business is just the efficient tool for earning money for Marcus and he makes earning money and becoming wealthy the only purpose and sense of his life. In such a way, Jane Smiley uncovers the full extent to which business and wealth are dehumanizing people. Good-natured people like Joe fail, while greedy and profit-driven ones, like Marcus, succeed and this is the main dilemma of the book that shows the persisting social injustice and the major drawback of the existing socioeconomic system uncovered by the author.The same idea may be clearly traced in the film Glengarry Glen Ross. However, in contrast to the book Good Faith, the film does not really show characters that are really good. On the contrary, all of them are businessmen, who are profit-driven and look for better options for their career development to become wealthy and prosperous at all costs . Even though they have different motives, for instance, Levene needs money to help his seriously ill daughter, while others, like Ricky Roma are just pursuing wealth.The main characters of the film work in the real estate company selling houses like did Joe and Gordon in Good Faith. However, there is no such a good character as Joe in the film. On the contrary all of them can and do receive customers to sell them houses. In such a way, from the beginning, the film shows clearly that there is no room for morality in the real estate business as well as in business at large.Moreover, the main characters of the film start looking like a pack of wolves ready to kill each other any moment just to stay in business and keep working in the company. This transformation becomes obvious, when the company sends Blake to optimize the performance of the team that means that two of four salesmen have to be fired. In such a way, the film uncovers the competitive nature of business, where people are mere puppets in hands of owners of the company. For instance, owners of the company do not care about Levene, who needs money badly to treat his daughter. Instead, they just look for options to save costs and optimize the team performance.Blake is the personification of business pragmatism and dehumanization. He does not care about people and he has no interest in their fate. He is just doing his job to receive promised rewards from owners of the company. This is why he decides to cut two positions in the company as the matter of fact. He does not care what will happen to those two salesmen that will lose the job. He does not care about people at all. What he does care is his own profit and the profit of the company.In such a way, the film conveys the similar message to the audience as does the book Good Faith, the film shows the dehumanizing nature of business and pursuit of wealth. People fail to respect basic moral norms, when they pursue wealth.At the same time, the pursuit of wealth and the strife for money often pushes people to criminal acts, as was the case of Marcus in Jane Smiley’s book and as was the case of Levene and Moss. Their plan to set fire in the office of the company and steel shares is apparently driven by their intention to gain more money and become prosperous. Just like the case of Marcus, they do not think of consequences of their criminal actions. They do not care about the company which they can ruin by such crime. What they do care is their personal well-being, wealth and success.Glengarry and good faith essay part 2

5 Tips on How to Improve Your APA English Essays

5 Tips on How to Improve Your APA English Essays 5 Tips on How to Improve Your APA English Essays The American Psychological Association has developed a formatting style that is used in several fields of study. It can be rather complex and if you have ever been given or seen the guide, you have probably had to pick yourself off of the ground. It is a very particular format; however, the majority of it deals with the citation process. Most instructors will level down your grade for improper formatting and there is no point in losing points for that. Here is how you can improve and get a good grade for your writing with these five easy tips. Utilize a Downloadable Format One of the easiest ways to make sure that your paper is formatted correctly is to download an APA formatted document. You can find them right on the internet and then you just download them to your computer. Once you open the document, you will see that it is already formatted perfectly for you. It may include sections that you don’t need, like a section for an abstract. If this is the case, then just delete what your paper doesn’t require. Input your information for the data in the document in the right places and you have a completely formatted document ready to turn in. Check out the Guide When you see the extensive APA format guide, you are going to think that it is crazy to use it. However, you have to realize that the majority of that guide is about the citations. Apart from rules and exceptions, it includes samples that can be helpful as well. So, before you count the guide out, give it a read. Make Use of the Writing Lab Take advantage of the free resource that you can find right at your school. You will be able to get one-on-one help with your paper right in your writing lab. And, for those of you who are taking classes online, you should know that online schools have writing labs too. It may not be the same because you won’t be sitting right next to someone. However, it has proven to be a helpful method for many students throughout the years and it can help you as well. Check out Examples This method may not be used by itself if you don’t find an example with notes that tell you about margin sizes, font sizes, and other characteristics. But, it is a vital way to ensure that you are correctly formatting your paper. Get a well written and properly formatted example and you will 100% benefit from it. You can actually see what all of the technical directions even mean. However, you want to make sure that you get it from a credible source. The best way to ensure that is to get the sample from a professional service and that brings us to the final place to find help with APA formatting. 5. Hire a Professional Helper Professional writers have mastered the various formats because they need to know how to do them properly and have had a lot of practice. Over the years, they have learned what the format should look like and what exactly needs to be done. And they know the most important parts of formatting so that they can help you make the necessary corrections. It is the ideal solution for students. When it comes to determining how to master the formatting process, these tips can be used together or by themselves. You can learn what you need to do, so that you can complete it every time and gradually make the process a lot quicker. All in all, you can buy APA essays written from scratch by experts from our certified custom writing service.

Interview a Manager Coursework Example | Topics and Well Written Essays - 1000 words

Interview a Manager - Coursework Example He has a degree in economics. He followed it up with a Masters in Business Administration from Harvard Business School. 1. What is the biggest challenge in recruitment and what is your role in the process? How would you modify that role if you could? A: The selection of a candidate with a good blend of technical and interpersonal skills is the biggest challenge. Often, we have people who are very talented but who are not great team players. My role is to facilitate processes that enable the right candidate is selected. I do this by ensuring that the interviewing panel always has people from different functions such as Production, sales, Human Resource etc. Given a chance, I would ask for a third party Human Resource agency to screen out candidates who do not fit into a certain aptitude and attitude profile. This would considerably reduce the load on us. Besides, psychometric and aptitude testing services have matured over the years and their success rates are consistently good. 2. Do you consciously think about how you motivate your employees? What role does positive and negative reinforcement have in your attempts to motivate employees? A: Well, that is a challenge that I face every day. I take care to see that new employees are often taken through an elaborate induction process so that they feel part of the community. For existing employees, I plan and execute specific workshops that blend fun and learning. Additionally, we encourage weekend parties where there is interaction with a larger group of people. Positive reinforcement works better. When there are rewards that accompany good performances, employees are motivated to work better. This can be in the way of non-monetary benefits too. Sanctions and reprimands, punitive measures turn out to be counter-productive at times. We notice a negative reaction to such measures. Throughout our company, we make it a point to emphasize positive reinforcement methods as a way to motivate people. 3. How do you encourag e employees to accept and embrace changes in the work environment such as new software, policies, or procedures? A: We make it a point to keep job rotation options open. Veterans in sales have taken up roles in finance and vice-versa. Agreed, such people are few in number, yet we ensure that such options are open. They help people embrace change quickly. Whenever we have ERP (Enterprise Resource Planning) upgrades or other such organization wide developments, we train all the employees through a structured program. Earlier, in the course of an acquisition, the radical change caused a lot of stress. We managed it with heightened levels of re-orientation, induction and familiarization programs. By the end of the actual acquisition process, employees had oriented themselves fully to the new management and policies. 4. Does your organization provide any on-going professional development activities for managers such as financial support for conferences or seminars, tuition-reimbursement, etc? How important is that in your own career development? What would you like your company to offer that it currently does not? A: Yes, our organization stresses the need for continuous knowledge development. As part of this policy, we have structured programs in place. We partially finance employees who undertake higher education degrees in business management when they are conducted

Power Point Presentation in Lectures Research Paper

Power Point Presentation in Lectures - Research Paper Example From the practical perspective, the utilization of Power Point presentations in classroom enhances students' learning, facilitates their participation and engagement, reduces boredom from educational process and improves student-teacher interaction. Students normally feel comfortable to direct questions to specific parts of the Power Point presentation, which evidently indicates they are engaged with the lesson and the presentation tool used in the classroom. The power point presentation also benefits the students who are absent. Teacher can print a copy of the Power Point lesson and give this to students upon their return to class. Power Point presentations can be used on a teacher's web site. Parents and students can access the site and get key information that has been discussed in class. This technology can even be integrated with a web based programs like Blackboard, and assessments can be given over the material presented in the Power Point lesson. Stein, Silbert, and Carnine in their book Designing Effective Mathematics Instruction: A Direct Instruction Approach, made the point that the organization of the learning environment was critical to the success of learners: "The way in which teachers organize the learning environment determines how successful learners will be in constructing the meaning that teachers intend to convey" (Stein et al., 1997, p2). Following this line of thought, it is evident that careful preparation of the learning environment (such as through the development of power point) contributes to student learning. This idea is supported by Stein and his colleagues who note: "The use of power point is the perfect tool to allow for the teacher to follow their scripted lesson while engaging with the students and also provides that visual guide for the student to follow and help stay connected with the lesson being taught" (Stein et al., 1997, p.123). The process of establishing a well-structured classroom enviro nment that incorporates new technologies can help model the expectations mentioned above that are expected outside of the classroom while also creating a very constructive and effective learning environment within the classroom. The constructivist approach of actively constructing knowledge through personal experience contrasts with the traditional approach to learning which states that students are empty containers who store knowledge in the same form they receive it. From the perspective of using Power Point presentation in the classroom, constructivists rely on teaching practices that are rich in student-teacher interactions that help the student come to the understanding of what they need to learn. These interactions help the student construct meaning and understanding. The role of the constructivist teacher is to assist students as they create constructions or frameworks of their understandings. It has been stated that there are six ways in which teachers can assist their students' performance: modeling, contingency, managing, feedback, instructing, questioning, and cognitive feedback (Goos, Galbraith, Renshaw, Geiger, 2003).