A burglary Free Essays

As I discovered him suspicious,l kept on checking his developments. Seeing the man squatting near the hedges and throwing subtle looks at regular intervals as he advanced toward the dark entryway. ‘ kept on watching him until he moved over the fence and understood that he was a robbery. We will compose a custom paper test on A theft or on the other hand any comparative point just for you Request Now Really focusing as quick as could be expected under the circumstances and I chose to call the police and my neighbor,whose name was Peter. In the wake of calling them,l mentioned to them what I saw in a suppressed free for all. After a short while,the police were shown up at Pewter’s house. The alarms of the squad car resounded through the air. Ran down towards them and disclosed to them the theft was inside. Just then,he was escaping from the house. L shouted,†let is him! â€Å"the police officers swiftly hurried to get him. The thievery ran helter-cover as he went to the closest leave This end up being an expensive mix-up for him as the cops gave pursue like a gathering of Olympic competitors. Len no time,they had found him and promptly cornered him aside. Subsequent to seeing he was caught,I ran into the house to check. At the point when I entered,my eyes dinned and my jaw dropped at seeing the house. As Pewter’s assets were tossed away,the cabinet and pantry were opened and freed from all the resources. The burglar had scoured and scrounged his home. After he was back,l helped him to tidy up all the muddled and he acknowledged to me for my assistance. Len addition,he advised the security to improve the security framework and he needed to be certain that such a sad mishap could never happen again. In the end,when returned home and informed my folks regarding how had taken care of the situation,they were brimming with acclaim for me. Instructions to refer to A theft, Papers

The duty and role of the producer Free Essays

Most definitely, there is the presence of a different scope of items that are intended for the motivations behind human utilization. The obligation and job of the maker is to concocted an item to be arranged through the way toward showcasing to a definitive purchaser. By so doing the objectives just as the targets of the maker is the age of benefit. We will compose a custom exposition test on The obligation and job of the maker or then again any comparable point just for you Request Now It in this manner applies that the topic of the security just as the medical problems of the item isn't the worry of the maker however a matter of individual issue of the assurance of the reaction just as the mischief that might be related with the utilization of the item. Dominant part of the items in the market that are intended for utilization are commonly undesirable just as a reason for death to the people. In the thought of the scope of the items that presents wellbeing danger to the shopper from the scope of quick nourishments to the tobacco items, the rundown must be viewed as unending. In any case, every one of these items are typically advanced in the market through the way toward publicizing, featuring the best side of the item while the information about the unsafe impacts is much of the time disguised. Anyway the resulting activities of the buyer are totally accused on the commercial. Publicizing is commonly comprehended as the go about just as the act of making the consciousness of the item to the buyer considering impacting the conduct of the purchaser for the item. It is absolutely off-base to put the fault of the activities of the buyer on publicizing. This sort of circumstance can be likened to accusing a person who is qualified for their own perspectives. The publicizing organizations and the item proprietors ought to rather, assume the fault. Over most of societies and particularly the United States the obligation of the individual decision has been disintegrated and individuals in any case point fingers in elective ways (Fox 98). The idea of promoting structures a significant fragment in undoubtedly. Through promoting, the open consideration concerning the current items, the necessities just as the administrations is sharpened. There exists no limit concerning the impacts stirred by the act of ad as to the potential mischief caused on the body of the person. The promoting organizations promote the hurtful items to the removal of the client. It ought to anyway be recollected that a definitive use saves the last judgment with respect to the utilization or restraint from the utilization of the item. As opposed to this reality, it has been clear that greater part of the individuals have laid the poor options made by the purchasers on the publicizing organizations. The tobacco just as the liquor ventures is among the most prominent enterprises that have been the objective in to the extent the faults of this classification are concerned. The idea of individual duties among most of individuals have been disintegrated, a circumstance that has come about to the thought of the publicizing business as a substitute for the poor related with the customers (Goodrum 145). Most of the people will be unyielding in to the extent the issue of admitting to the fact of the matter is concerned however with everything taken into account interfacing commercial to an inappropriate judgment of the purchaser isn't advocated. This must be taken as the nonattendance of the expected limit of the person to practice moral duty with respect to the decisions that the individual is in a situation to take just as actualize. To excuse themselves, the poor decision of the buyer is pegged on promoting as the substitute. It is a typical practice for individuals with powerless self discipline to censure others for the misguided decisions that they make. The way toward settling on rational choices is established in the possible limit with regards to the individuals to bear their own obligations. The way that an ad has been publicized isn't a ramifications that it ought to be completely grasped yet rather the individual is at freedom to appreciate or scorn the item focused by the ad (Fox 158). Instructions to refer to The obligation and job of the maker, Papers

Network Design for the 2012 London Olympics Essay Example for Free

System Design for the 2012 London Olympics Essay This report is a bit by bit investigation of the prerequisites arranging and usage of a system dependent on the foundation of an office situation. All through this report, the peruser will perceive how the prerequisites arranging is separated into nitty gritty segments to delineate how every necessity has been recognized for the phases of wanting to execution. In the initial segment of the report, we will recognize what equipment is required for the size of the system, mulling over a space for future development and gadgets to be included sometime in the not too distant future. The second piece of the report will be the recognizable proof of programming that will be expected to run all administrations on the system including set-up and setup of the product. System Planning Why is a system required? Before really arranging the set-up of a system, the utilization of a system must be supported. There are numerous utilizations to a system, a portion of the essential uses are †¢ Sensitive data trade †data is shared uniquely among offices or potentially explicit clients and not to others, e. g. client account data that contains bank data as well as other individual data. †¢ Internal advanced mail solicitations and correspondence between divisions in a business might be expanded and messages can be put something aside for sometime in the future. †¢ Resource sharing †data refreshed continually is shared from one area and is referenced by different offices as well as clients inside a similar system, e. g. a database of client subtleties and requests for an organization. †¢ File Backup Services †data is supported up or put away in a protected area in case of future issues and to keep up records of data. There are different employments of systems also however essentially they are utilized as a methods for security. Inside an organization, when a system is used accurately, the progression of data over a system can be observed and followed back to the client. This is basic to guarantee no data utilized inside the organization is gotten to from an outside source or is utilized in an unlawful way by an organization worker. Extent of the system Since the system is being made for the London 2012 Olympics, we can accept that the system will be of enormous scope (around 500-2,000 clients). This implies each assistance, for example, email and DHCP administrations, will require its own devoted equipment all together for the assets to be satisfactorily shared with no system idleness or moderate access understanding. In the event that the system is utilized on an a lot littler scope, at that point the administrations could run from utilizing just a couple of bits of devoted equipment, for example, the space and email administrations sharing equipment. A site overview ought to consistently be performed before establishment a system to guarantee that remote signs can be transmitted all through the structure or structures and to perceive how the system can be demonstrated dependent on the earth it will be introduced in. Distinguishing Network Hardware In this area, we will recognize distinctive equipment and its uses on a system, how a system is associated and what gadgets are utilized to interface a system all through an organization building. Servers and Services There are a wide range of sorts of administrations that can be facilitated from a server on a system. A significant number of these administrations as a rule have their own devoted equipment yet relying upon the size of the system, the administrations can without much of a stretch be grouped together on a similar equipment to eliminate generally speaking gear use. Area Server The space server is utilized to verify clients and PCs remembered for the system. It is viewed as the fundamental access control to a system since it stores all client account data utilized in confirmation. Email Server The email server is utilized to guide messages to the right beneficiary once the message has been handled by the server. Numerous organizations today utilize a private interior mail framework as a method of quicker correspondence inside divisions. Record Server A document server is utilized to give clients access to data and information over the system. This lessens record duplication across various PCs on the system. Authorizations can be set for record get to so significant documentation can be perused however not written to or erased. DNS Server A DNS server is a sort of server that makes an interpretation of DNS names into an I. P address that is utilized for correspondence on the web. DHCP Server A DHCP server is utilized by hosts to recover I. P addresses and other data. Firewall Server A firewall server is utilized for checking the system for vulnerabilities and interruptions and recognizing infections in case of an assault from the web. Application Server An application server is utilized to have applications and make them a piece of the network’s assets. The servers are normally used to save money on costs for various programming licenses contrasted with a site permit. Database Server A database server is utilized to have a database for access by clients. These servers can be refreshed and seen. These are regularly utilized in account offices or organizations that have client records that should be gotten to and altered continually. System Devices This area will better clarify different gadgets that make up a system, for example, the system hardware itself and different gadgets which can be viewed as basic to an arranged situation. Modem A modem is utilized to associate an outside line (as a rule from a web access supplier) by means of phone correspondence to the system empowering web access or access to another site’s assets. Switch A switch is a gadget that advances information parcels between gadgets on a system and can oversee which arrange hub gets certain information instead of sending similar information to every hub. Switches can likewise have their own firewalls. Switch A switch is utilized to associate portions of a system together. Switches are a significant piece of a system as they are utilized to interface various gadgets without a moment's delay. These switches come in all shapes and sizes, running from a basic 2 port change to a 48 port switch which fits into a server rack. Remote Access Point The remote passage is a gadget that adds remote availability to your system. This sort of system gadget is frequently used to associate convenient gadgets, for example, workstations, PDA and Smartphones to the system. It is additionally utilized for remote printers and introducing equipment gadgets to PCs where system cabling isn't pertinent. System Printer Network printers will be printers caused accessible on the system as an asset with the goal that numerous clients to can print from one area. This chops down numerous equipment use per PC which spares equipment expenses and upkeep. Beside clients, these administrations and gadgets are what make up a system. Interfacing your Network: Cabling and Access Points Now that we have laid out what administrations and gadgets make up a system, there is the matter of how a system will be associated. There are a couple of techniques for associating a system, each with its own pro’s and con’s. The standard strategy for associating a system is through link. Link Connection Cable association for a system is one of the most confided in strategies for interfacing clients to assets. The explanation behind this being wired associations were the primary norm and steady correspondence to be utilized with PCs. Remote association is as yet a genuinely new technique for correspondence and is subsequently as yet evolving. Kinds of Network Cables There are many sorts of system links that are utilized today in business, each appropriate for various purposes. Curved Pair is a sort of copper cabling that is utilized for media communications and most Ethernet systems. There are two kinds of contorted pair cabling. †¢ Unshielded bent pair (UTP) †UTP links have a scope of 100 meters and depend exclusively on the wiping out impact delivered by the turned wire matches that cutoff points signal corruption. †¢ Shielded curved pair (STP) †STP links decrease electrical commotion from inside the link since each pair of wires is enclosed by metallic foil to more readily shield the wires from clamor. Four sets of wires are then enveloped by a metallic interlace or foil. Coaxial link is a copper-cored link that is encircled by overwhelming protecting. There are a few sorts of coaxial link. †¢ Thicknet or 10BASE5 †utilized in systems and worked at 10mbps, most extreme length of 500 meters. †¢ Thinnet or 10BASE2 †utilized in systems and worked at 10mbps, most extreme length of 185 meters. †¢ RG-59 †Most regularly utilized with digital TV. †¢ RG-6 †Higher quality than RG-59, with more transfer speed and less helplessness to obstruction. A fiber optic link is either a glass or a plastic fiber that conveys light along its length. Fiber optic link can arrive at separations of a few miles before the sign should be recovered. Fiber optic is more costly than copper link and connectors are more costly and harder to gather than different associations. Remote Connection Wireless innovation is likewise a significantly used innovation in business today despite the fact that the dependability of remote association doesn't come close to that of a link association. Security There are a couple of various approaches to apply security in a system. Some security conventions might be put during system plan and a few conventions when the system is running. System security during the structure During the planning of the system, abstain from giving anybody outside the usage group or system fashioner any data, for example, work designs about the system plan or the materials that will be utilized for the system, which will assist Vandals with penetrating or utilize the system improperly. Essential security that ought to be available in a system 1. Firewall will offer a harder obstruction between the private system and the Internet. Firewalls will keep undesirable clients or programmers from getting to the system.

Rosa Louise Parks Essay -- Civil Rights Movement Biography History

Rosa Louise Parks  â â â â      The lady who earned the title â€Å"Mother of the Civil Rights Movement†, Rosa Louise Parks is a gigantic motivation to the African American race. Rosa was conceived in Tuskegee, Alabama on February 4, 1913 to James and Leona McCauley (The Life of Rosa Parks). Both of Rosa’s guardians were conceived before bondage was exiled from the United States. They endured a troublesome youth, and after liberation the conditions for blacks were very little better. Rosa’s mother was a teacher and her dad was a rancher (Rosa Parks: Pioneer of Civil Rights Interview). Rosa’s guardians isolated in 1915, and her mom moved Rosa and her more youthful sibling to Montgomery, Alabama to live with their grandma (Rosa Parks: The Woman Who Changed a Nation).      The southern states during this timeframe were very isolated. Confederate Army veterans from Pulaski, Tennessee set up the Ku Klux Klan, a mystery society in 1866 during recreation. Individuals from the Klan beat and killed a few dark individuals. During political decision times there would be a few events where Klan individuals would beat, assault, and murder blacks, attempting to scare the republican agents. So as to conceal their personality, they would where white robes, and white sheets over their countenances with just the eyes cut out. They would consume crosses to freeze their casualties and their families (The New Encyclopedia of America 133). The Ku Klux Klan was engaged with Montgomery, where Rosa and her family were living.      Rosa’s mother was a significant good example for her and her sibling. Since their mom was a teacher, she self-taught Rosa until the age of eleven (Rosa Parks: The Woman Who Changed a Nation). After she was eleven, Rosa went to the all-dark school of Montgomery Industrial School for Girls where she cleaned homerooms so as to pay her educational cost. In the wake of going to the school for young ladies, she enlisted at Booker T. Washington High School, another dark school, until the age of 15. She had to drop out of her High School since her mom was sick and she expected to get back to deal with her (The Life of Rosa Parks).      When Rosa McCauley was 20 years of age in 1932 she met and wedded a stylist by the name of Mr. Raymond Parks. Rosa started to sew and to take on a few sewer occupations, and furthermore housekeeping employments (Rosa Parks: The... ...ry Bus Boycott. Silver Burdett Press, 1991. Opportunity Hero: Rosa Parks. AP News Wire. 12 August 2008 http://www.myhero.com/myhero/hero.asp?=rosaParks The Life of Rosa Parks. Troy State University. 25 August 2008 http://www.tsum.edu/historical center/parksbio.htm Lopes, Marilyn. The Rosa Parks Story: How One Person Made a Difference. 15 December 2003 http://www.nncc.org/Curriculum/rosa.parks.html NAACP http://www.naacp.org/home/index.htm Rosa Parks: The Woman Who Changed a Nation. Grandtimes. 20 Dec 2003 http://www.grandtimes.com/rosa.html Rosa Parks: Pioneer of Civil Rights talk with, June 2, 1995, Williamsburg, Virginia. http://www.achievement.org/autodoc/page/par0int-1 Smith, Shanice. American Poetry. The New Encyclopedia of America. third ed. 2003. Focus on Mrs. Rosa Parks, Mother of the Civil Rights Movement. Young lady Power. 15 December 2003 http://www.girlpower.gov/girlarea/gpguests/RosaParks.htm Stephen Ambrose and Douglas Brinkley. Observer to America : a showed narrative history of the United States from the Revolution to today. Harper Resource 1999 TIME 100: Heroes and Icons of the twentieth Century Time Warner Publishing, June 14, 1999

Christian Elements In Beowulf Essays - Beowulf, Geats,

Christian Elements In Beowulf Christian Elements in Beowulf The commended epic sonnet, Beowulf, is the primary extraordinary gallant sonnet in English writing. The epic follows a bold warrior named Beowulf all through his young, grown-up life and into his mature age. As a youngster, Beowulf turns into an unbelievable legend when he spares the place that is known for the Danes from the terrible animals, Grendel and his mom. Afterward, following fifty years pass, Beowulf is an elderly person and an incredible lord of the Geats. A colossal winged serpent before long attacks his tranquil realm and he guards his kin gallantly, passing on simultaneously. His body is scorched and his remains are put in a cavern by the ocean. By setting his remains in the ocean side cavern, individuals passing by will consistently recall the amazing saint and lord, Beowulf. In this perceived epic, Beowulf, is have large amounts of otherworldly components of agnostic affiliations; in any case, the sonnet is something contrary to agnostic boorishness. The introduction of the narrating moves smoothly inside Christian environmental factors just as agnostic standards. Beowulf was a recounted agnostic old stories where the individuals of that timeframe put stock in divine beings, goddesses, and beasts. It's essentialness lies in an oral history where individuals retained long, thick lines of monotonous refrain. Afterward, when a composed custom was acquainted they started with record the story on tablets. The old story was not first told or imagined by the generally known, Beowulf writer. This is obvious from examinations of the old stories analogs. The original copy was composed by two copyists around AD 1000 in late West Saxon, the scholarly vernacular of that period. It is accepted that the copyists who set up the old materials into their current structure were Christians and that his sonnet mirrors a Christian custom. The main recorder duplicated three composition pieces and the initial 1,939 lines of Beowulf while the subsequent copyist duplicated the rest of Beowulf and Judith. In 1731, a fire moved through the Cottonian Library, harming numerous books and singing the Beowulf codex. In 1786-87, after the composition had been kept in the British Museum the Icelander, Grinur Jonsson Thorkelin, made two translations of the sonnet for what was to be the main version, in 1815 (Clark, 112-15). Beowulf is a blend of agnostic and Christian perspectives. Rapscallion rehearses are referenced in a few spots, for example, vowing of penances at symbol fanes, the seeing of signs, the consuming of the dead, which was disliked by the congregation. The continuous inferences to the intensity of destiny, the thought process of blood retribution, and the commendation of common greatness bear declaration to the old foundation of agnostic originations and beliefs. In any case, the general tone of the epic and its moral perspective are overwhelmingly Christian . There is not, at this point a certifiable agnostic environment. The assessment has been mollified and refined. The excellencies of control, unselfishness, thought for other people are drilled and acknowledged. Beowulf is a Christian improving of an agnostic sonnet with ?a string of agnostic lays altered by priests; it is crafted by an adapted however off base Christian collector? (Clark, 112). The creator has reasonably exhaulted the battles with Grendel, his mom, and the mythical beast into a contention between forces of good and underhandedness. The figure of Grendel, while initially a normal Scandinavian troll is considered as a pantomime of malevolence and murkiness, even a manifestation of the Christian fallen angel. Grendel is an individual from the race of Cain, from whom all ?distorted and unnatural things were generated? (Kermode, 42) for example, beasts and mythical beings. He is an animal dwelling in the external murkiness, a goliath and savage. At the point when he slithers off to kick the bucket, he is said to join the course of fallen angels in damnation. The story of a race of evil beasts and mammoths plunged from Cain. It came structure a convention built up by the fanciful Book of Enoch and early Jewish and Christian translations of Genesis 6:4, ?There were mammoths in the earth back then, and furthermore subsequently, when the children of God had relations with the little girls of men, who bore kids to them? (Holland Crossley, 15). A large number of Grendel's handles are certain appellations of Satan, for example, ?foe of humankind,? ?God's foe,? ?the fallen angel in hellfire,? also, ?the hellfire slave.? His activities are spoken to in a way recommending the lead of the detestable one, and he stays with his mom in a negligible which summons dreams of hellfire. The portrayal of the insignificant is the most striking since it is a calculated scene made fearsomely reasonable

Things To Do Before Class Starts

Things To Do Before Class Starts It has been two weeks since the first day of our new semester, but I am still in “vacation mode. People asked, “what kind of fun can you get anyway?” Well, it is true that we are kind of in the middle of nowhere, but luckily, we are located in two quite diverse and romantic citiesâ€"Urbana and Champaignâ€"both of which offer various festivals, especially in August. My friend and I had a lot of fun attending those events, and I am really excited to share my experience with you. 8.18-8.19 Taste of Champaign 2017 This was an event that could make people FAT, because there were SOOO many things to eat/drink. To me, the nicest thing was that most food vendors provided tastes, which are smaller in size but are not less delicious. Also, there were local bands playing high-quality music (usually original songs!) through the event, and we definitely enjoyed it. We went there for both days and tried every single food vendor and food truck. Since there are so many options, I even took notes at night ranking the vendors I really want to try. 8.21 Solar Eclipse Viewing Party at Champaign Public Library I did not know there was a solar eclipse coming until the 17th of August. At that time, it was pretty hard to get a pair of eclipse glasses delivered on time. So I searched online and found that our Champaign Public Library was giving 100 pairs for free every morning until the 21st. So, on the next day, my friend and I got up early and got ours. Although we did not attend the viewing party, I have heard it was a lot of fun with eclipse related events, such as games and crafts. 8.25-8.26 Urbana Sweetcorn Festival This is a signature summer event of Urbana, and I couldn’t believe that I have never been there until my senior year. There was live music, local businesses and vendors. I had a lot of foods, and they were great. I got a turkey leg which was longer than my forearm, and I have to say I tried my best to finish it. 8.28 Japan House summer Matsuri I guess it would be my biggest miss that I did not go to Matsuri this summer. Words from my friends: “It was such a great event to experience traditional Japanese culture. The performances and displays were wonderful, and the food and drink were so great that I just did not want to leave.” 2018 would be Japan House’s 20th  anniversary celebration, and I believe it would be even much higher than our expectations. I wish I would meet you there next year! Photo Taken By  @???? Photo Taken By  @???? Connie Class of 2018 I am double majoring in Computer Engineering in the College of Engineering and Statistics in the College of Liberal Arts and Sciences. My hometown is a historical and peaceful city called Suzhou, located in southeastern China.

Relationship Between Independent And Dependent Variables - 275 Words

Extraneous Variables Affecting The Relationship Between Independent And Dependent Variables (Research Paper Sample) Content: Extraneous variables affecting the relationship between Independent and Dependent variablesNameInstitutionTutors NameDateThe independent variable is the patient satisfaction while the dependent variable is the inpatient admissions. There is a great relationship between satisfaction of patients and the number of patients admitted to a hospital. The reason a patient rates a hospital highly after admission is determined by various factors. Coyne et al. and Messina et al. have analyzed them and give the results depending on each. They did not exhaust the list of factors that determine patients satisfaction. Extraneous variables affect the patients satisfaction as discussed.They used the Spearmans coefficient of rank-order to come with results determining the relationship between patient satisfaction and inpatient admissions. The research is done for both teaching and nonteaching hospitals. In both; the conclusion was that there is a negative relationship between patient s atisfaction and inpatient admission for both nonteaching and teaching hospitals. Some of the elements that are considered are: the admission process, housing, meals, nurses, tests and treatments, visitors and family (Daniel, 2009).In another research, it shows that communication between a patient and the physician affects the rating of satisfaction that a patient gives after admission. If the patient communicates well with the doctor, they give a very high rating on their satisfaction. Effective communication includes having a chance to ask questions, expressing themselves freely and if the doctor was friendly or not. Personal problems also affect how a patient will rate a facility. If a patient is naturally unhappy, stressed and with a low self-esteem, they rated their satisfaction negatively but if they are happy, healed, educated and with a high self-esteem, their patient satisfaction is highly rated. The outcomes of the admission are another factor to be considered. If a patient is discharged after healing, they rated their satisfaction highly if they are not healed or died; the relatives give a minimal patient satisfaction rating (Joffe and Manocchia, 2003).The extraneous varia...

South Koreas Infatuation With Computer Gaming Culture

South Korea is a country infatuated with video games. It is a place where professional gamers earn six-figure contracts, date supermodels, and are treated as A-list celebrities. Cyber competitions are nationally televised and they fill-up stadiums. In this country, gaming is not just a hobby; it’s a way of life. Video Game Culture in South Korea Although the per capita access to broadband internet is high, most Koreans actually conduct their gaming activities outside of the home in local gaming rooms called â€Å"PC bangs.† A bang is simply a LAN (local area network) gaming center where patrons pay an hourly fee to play multiplayer games. Most bangs are cheap, ranging from $1.00 to $1.50 USD an hour. There are currently over 20,000 active PC bangs in South Korea and they have become an integral part of the country’s social fabric and cultural landscape. In Korea, going to a bang is equivalent to going to the movies or the bar in the West. They are especially prevalent in big cities like Seoul, where heightened population density and the lack of space offers residents few options for recreational and social interaction. The video game industry makes up a large share of South Korea’s GDP. According to the Ministry of Culture, in 2008 the online-gaming industry earned $1.1 billion dollars in exports. Nexon and NCSOFT, South Korea’s two largest game development companies reported a combined net income of over $370 million in 2012. The entire game market is estimated at approximately $5 billion dollars annually, or about $100 per resident, which is more than three times what Americans spend. Games like StarCraft have sold over 4.5 million copies in South Korea, out of a worldwide total of 11 million. Video games also stimulate the country’s informal economy, as millions of dollars are traded yearly through illegal gambling and betting on game matches. In South Korea, cyber competition is considered a national sport and numerous television channels broadcast video game matches regularly. The country even has two full-time video game television networks: Ongamenet and MBC Game. According to the Federal Game Institute, 10 million South Koreans regularly follow eSports, as they are known. Depending on the matches, some video game tournaments may garner more ratings than pro baseball, soccer, and basketball combined. There are currently 10 professional gaming leagues in the country and they are all sponsored by big corporations such as SK Telecom and Samsung. The monetary rewards for winning a league tournament are colossal. Some of South Korea’s most famous players like the StarCraft legend, Yo Hwan-lim could earn more than $400,000 a year just from league matches and sponsorships. The popularity eSports has even led to the creation of the World Cyber Games. Gaming Addiction in South Korea Over the past decade, the Korean government has spent millions of dollars on clinics, campaigns, and programs to minimize this problem. There are now publicly funded treatment centers for game addicts. Hospitals and clinics have installed programs that specialize in treating the disease. Some Korean game companies such as NCsoft also finances private counseling centers and hotlines. In late 2011, the government took a stern step further by imposing a â€Å"Cinderella Law† (also called the Shutdown Law), which prevents anyone under the age of 16 from playing online games on their PCs, handheld device, or at a PC bang from midnight until 6 a.m. Minors are required to register their national identification cards online so that they can be monitored and regulated. This law has been highly controversial and is contested by the majority of the general public, video game companies, and game associations. Many people argue that this law infringes on their liberty and would yield no positive results. Minors could just register using someone else’s identification or completely circumvent the ban by connecting to Western servers instead. Although by doing so, it certainly affirms one’s addiction.

Pros and Cons of Corporate Health Care - 1069 Words

In the end, though, the argument against the proliferation of so much corporate medical research is not about vilifying corporations for the fact that they make profit-based decisions. The problem is simply that when it comes down to it, these profit-based decisions have too much of an impact on the medical field as a whole. While some corporate involvement is fine, and even beneficial, considering the ability of a corporation to work internationally and pool resources in labs with increasing amounts of research experience, the entire range of research only coming out of these labs where profit is the main goal leaves the field sorely lacking in areas that society simply can’t ignore. Though revenue potential might be what makes this current climate hostile to corporations researching neglected medicines, the neglect of those medicines makes this current climate hostile towards the entire populace. The real solution lies in more publicly funded research, which would leave us w ith the ability to not only stop leaning so heavily on companies that can pull the rug out from under us at a moment’s notice, but also the ability to research simply for the greater good and the advancement of a field necessary to the wellbeing of people in any and all walks of life. Publicly funded research on drugs which are beneficial to areas of medicine that have stagnated for too long not only relieves the pressure on corporations but also gives us the information we really need to continue toShow MoreRelatedSample Resume : Healthcare Management1202 Words   |  5 Pagesprofessor presented in the course a case study pertaining to business ethics. In this particular case study, it examined a recent graduated named Ramonda Alexander that needs to be advise on whether or not sign a contract with the company Next Step Herbal Health. 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Risk Management for State Street Financial Centers Services - Free Essay Example

Sample details Pages: 22 Words: 6544 Downloads: 4 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? In todays global environment, it is necessary for every organization to manage risk in an effective manner. Effective risk management provides various benefits to an organization such as increase in firms value, increase in profitability etc. Risk can be defined as uncertainty and result of uncertainty. Don’t waste time! Our writers will create an original "Risk Management for State Street Financial Centers Services" essay for you Create order It can be classified into systematic and unsystematic risk. Systematic risk is associated with risk of market or overall economy, while unsystematic risk is related with the specific assets and firm (Al-Tamimi Al-Mazrooei 2007). The risk or uncertainty is measured in an organization through the risk management techniques. According to Kerzner (2009), risk management is the process of dealing with risk. It includes planning for risk, risk identification, risk analysis and development of risk response strategies for monitoring and controlling the risks. Risk management is related with sound project management activities as a proper risk management is proactive rather than reactive, positive rather than negative and also increases probability for the project success (Kerzner 2009). Blokdijk (2009) describes that risk management is the process of identifying risk and trying to come up with appropriate strategies that will be effective for an organization to handle situations that may impact of organizational effectiveness. The effective risk management begins with the understanding of how an organization is appetite of risk. Risk management includes identifying, evaluating, analyzing, treating, monitoring and communicating the impact of risk throughout the organization (Isaca 2009). Egbuji (1999) exhibited in research that risk management is an objective corporate approach that is used to decide the best way of controlling the threats to the security of an organization. It deals with decision making related to the risk and their implementation within the organization. It also includes flow of the decision throughout the organization and risk evaluation (Egbuji 1999). The risk management is an effective method for minimizing the adverse effects of risks and maximizing the benefits of incurring the risks. Risk management focuses on different type of risk such as market risk, credit risk, liquidity risk and operational risk that helps an organization to faci litate effective risk management. Market risk decreases the value of a portfolio due to some market risk factors such as equity risk, interest risk, currency risk and commodity risk (Tarantino 2008). Credit risk deals with measurement of credit exposure, credit aggregation netting and credit enhancement. Liquidity risk includes those risks that arise due to the risk of a security and asset that is not traded quickly in the market (Tarantino 2008). Operational risk arises due to execution of a companys business such as people, systems and different processes through which a company operates its business. This risk is also known as fraud risk, legal risk, physical risk and environmental risk (Tarantino 2008). For a better risk management, it is necessary to identify the responsibilities of board members such as development of the processes and strategies annually to identified risks, appointment of a board committee that review the risk management process, disclose risk management in the annual report and facilitate internal control system (Tarantino 2008). Dubai International Financial Centre (DIFC) was launched in 2004 to add a new dimension to Dubais diversification programme. DIFC rode the crest of an economic development wave ushered in by the creation of specialised economic free zones in Dubai. DIFC represents a new generation of free zones that are driving the next phase of Dubais economic growth. By developing a world-class hard and soft infrastructure, DIFC has created a secure and productive platform from which financial institutions are able to tap the vast growth potential for investment, insurance and capital market services in the region. Dubai International Financial Centre Authority (DIFCA) is an autonomous body which provides the administration services for its clients, determines the future vision and growth of the DIFC In order to cater the demand of the market and maintain it has various departments to help the day to day activitie s as well contribute to the economic growth of the region and Dubai. It is necessary for DIFCA to manage risk effectively. Scholes (1998) described in its research that the risk management system is an exposure of financial and a control system. An exposure to financial system is a dynamic that gives managers an opportunity to assess the effects of change in economic factors and the economic profit and loss of the entity (Scholes 1998). In risk management, enterprise risk management is new concept that is followed by various organizations across the services. Enterprise risk management is a process that identify potential event that may affect an entity and managing risk within its risk appetite that will help in achieving organizations objectives. ERM process is affected by an organisations board of director, management and other personnel (Demidenko McNutt 2010). It includes different factor to manage risk effectively such as internal environment, objective setting, event iden tification, risk assessment, risk response, control activities, information and communication and monitoring (Demidenko McNutt 2010). This research helps in indentify different concepts such as what is risk management, implication of enterprise risk management and a procedure that should be followed in order to manage risk effectively and why it is important for DIFCA. In this consulting exercise we shall look into the current risk management structure and provides a framework to DIFCA for the effective that are compared to the best risk management practice and at the same time be more pragmatic to implement and follow. The aim would be to increase its effectiveness, competitive position among the leading financial centres in the region as well as around the world. Research Aim Objectives The research is aimed to identify existing framework, procedures and policy of risk management for the financial service center and apply this information for DIFCA. It is a consultancy project and the main objective of this project is to provide recommendation to DIFCA about risk management that includes framework, policies and procedures for better risk management. It also explains about enterprise risk management that is widely used concept amongst various segments of an organization. The main objectives of this research are as follows -: To review the literature concerned with the risk management framework, policies processes and the ERM. Identify the activities that should be taken by DIFCA to facilitate effective risk management. Provide recommendations for the risk management framework to DIFCA. Determine the standards and principles that will facilitate a sound risk management in DIFCA. The above research objectives will be accomplished through the literature review related to the risk management framework, policies, processes and enterprise risk management. Conclusion It can be concluded that risk management is necessary for every o rganization to enhance the profitability, reduce impact of uncertainties and to maximize the value of firm. Risk management is a set of activities that is used by an organization to control uncertainties. This research is done to identify the framework of risk management and to apply it within DIFCA. Chapter 2: Company Analysis Background Information Company Overview: State Street Corporation (SSFS) was founded as a bank in 1792, in Boston, Massachusetts. It started providing mutual fund services since 1924. State Street Bank and Trust Company was established in 1962. After this, SSFS acquired and established different business units in different countries such as establishment of a new software development technology by the acquisition of UniverseSoft Technology Company in China, in 2006. It also acquired Currenex that deal in online foreign exchange trading and in 2007, it acquired Investors Financial Services Corporation that provides different financial services (State Street 2010). SSFS is a financial holding company that works with its subsidiary namely State Street Bank and Trust Company. It provide several financial services to different users by providing different type of products and services such as fund accounting, custody, investment management, securities landing, transfer agency s ervices, hedge fund services and operations outsourcing for investment managers (State Street 2010). It also operates its operation in several countries such as US, Europe, Canada, Asia etc. It operates through two business divisions such as investment servicing and investment management. Investment service division provides different investment service to different customers such as mutual fund, collective investment fund, corporate, public retirement plan, and insurance company globally (State Street 2010). It also provides security finance such as deposit and short-term investment facilities, loan and lease financing, outsourcing manager operations related with investment, hedge fund and performance, risk and compliance analytics to support institutional investors. Investment management division provides assets management services such as investment research services (State Street 2010). SSFS focuses on delivering value to shareholders, customer, employees and communities in w hich they work. SSFS has a strategic alliance with Pensions First Analytics (PFA). It is an UK based company that provides risk management and advisory services (State Street 2010). Importance of Risk Management for DIFCA: Risk management is quite important for DIFC A as it is helpful for both assets owners and managers. Assets owners and managers scrutinize current risk management practice closely and link it with current environment and help in manage investment, credit, liquidity and operational risks that help to facilitate corporate governance and to compliance with regulatory requirements. It also helps in reducing operational risks and costs (Houlahan Tahbazian 2010). The risk management will also be helpful to handle credit crisis as many institutional investors require these services for effective investment decision. DIFCA can response customers through making material changes in investment processes and by providing more sophisticated data management and reporti ng system. Due to the recent financial crisis, risk management has become more important for an organization to increase transparency and returns (Houlahan Tahbazian 2010). Currently, DIFCA is facing several risks due to environmental uncertainty and changing global customer requirements that are also causing an increase in the importance of risk management for it. Following are some risks that have been identified and also exhibit the importance of risk management framework for DIFCA SSFS provides different services to different customers and it is difficult to make an effective coordination among them. Another risk is related to the exposure of potential losses in its revenue and profitability. It is because of the real estate value, assets management and related entities that are not proceeding as expected before the financial crisis hit Dubai. This relationship may incur loss for DIFC due to uncertainty of time that is required in the recovery of the companys clients. DIFC have participated in many ventures under its assets and investment arm DIFCI. Under this program, some investments were done without proper due diligence and best practice guidelines. This along with the recession and other crisis in the Dubai has made an impact on its financial position. Involvement of DIFCA and other entities in regulatory non-compliance may cause higher legal expenses and may also violate its image among its clients. There was no proper controls and checks within the DIFCA and every department were working as a silo Risk Management in SSFS: The main focus of DIFCA is on the development of innovative risk management techniques. DIFCA defines risk management as minimizing overall portfolio volatility, maximizing its revenue with the lowest amount of performance dispersion or minimizing the tracking error of a passive hedging policy against a particular benchmark. The CEO and the Managing director are responsible for managing the team that ensures balance between uncertainty and risk. Current Risk Management Policies, Processes and Principles: DIFCA, Head of Risk and Compliance to manage the risks in an effective manner. The mandate is to lead a team of enterprise risk professionals that support the business in facilitating risk management. Boards of directors also play an important role of risk manager to manage global risk management in the company. DIFCA has appointed two of top five consulting company to guide the organisation during these difficult times. Following are charter that is established by DIFCA under its risk management policies- Risk and Capital Committee Charter Risk and capital committee charter is used by DIFCA that helps in assessment and management of risks and capital adequacy and it is established by the companys board of directors. It assists the board in fulfilling its responsibilities. Committee members are appointed and replaced by the board on the recommendation of the Nominating and Corporate Governance Committee through its internal compliance team. Following are some authorities and responsibilities of committee: This committee is responsible for discussing with management about company assessment and risk management. It consider different risk such as market, operational, fiduciary, interest rate, liquidity, business and credit risks and policies related with these risk (State Street, 2010). It also provides an oversight over the corporate governance principles and also controls monitors capital adequacy to manage the risks. It also reviews estimation of economic capital and receives appropriate report. This report is related with assessment, analysis, monitoring, management and mitigation of risk exposures. Committee is also responsible for reviewing and approving some matters such as portfolio investment securities, strategic investment and provisions for credit and security processing (State Street, 2010). It is also responsible for regulatory matters such as duties and obligations of the board under Basel II. The committee can delegate its responsibility to management, make reports on board, evaluate committees performance annually and can review the charter annually to provide recommendations on the potential changes (State Street, 2010). Issues that are considered in risk management by SSFS: Risk is directly related with role of governance in an organization. The process of risk management should be regular, ongoing and transparent as the risk assessment incorporates both internal and external expertise (State Street Corporation 2009). Some issues should be considered, while making risk management process. These are as below: Proper knowledge of risk associated issues. Prepare provisions for advanced risk management and develop an ongoing concept. Establish adequate and regular risk assessment process. Enhance participation of members in fundamental risk process. Conclusion This chapter is quite effect ive to determine the risk management approach in SSFS. The company analysis is also effective to determine the policies and procedures that should be implemented within the organization to increase the effectiveness of risk management framework. It will also be effective to develop and enterprise risk management model for SSFS. Chapter 3: Literature Review Introduction This chapter analyzes a theoretical framework for the risk management. It describe about the risk management as different people consider risk management in different manner. It also provides a framework and process for risk management. The literature review also includes analysis of the journal and articles that are related to the prior research done for risk management framework in the financial service centers. The literature review provides some findings that are beneficial to provide recommendations on risk compliance management framework, policies and procedures for SSFS. Literature Review Definition of risk Management: According to Isaca (2009), risk management is the process of identifying vulnerabilities and threats to the information resources used by an organization in order to achieve business objectives and to establish measures that will be effective to reduce the impact of these risks (Isaca 2009). The risk management is an effective method for minimizing the adverse effects of risks and maximizing the benefits of incurring the risks. Egbuji (1999) described opposite the Kerzner (2009) that risk management can be proactive and reactive both. Proactive approach advocates that implementation of control is necessary without waiting the disasters to be happen while in reactive approach implementation of control take place after it happened to mitigate disasters (Egbuji 1999). The process of risk management follows a two phase approach. In first phase analyses and assessment of risk is performed, while the second involves the activities of planning, resourcing, controlling and monitoring to reduce the risk (Egbuji 1999). According to Hillson (2003), risk management is an important management approach that deals with inevitable uncertainty that aims to minimize the risk and to maximize opportunities by maintaining focus on achievement of objectives (Hillson 2003). He further explained that there are number of standard pro cesses that guide businesses to implement the risk management. But the effective risk management requires a clear understanding of risk that is faced by the businesses (Hillson 2003). The clear understanding of the risk is related to the simply identification of risks and to characterize them with the probability of their occurrences and decide their impact on objectives. According to him, risk breakdown structure is a powerful aid for risk identification, assessment and reporting (Hillson 2003). According to Ross Boadpati (2006), risk management is an ongoing process for managing the identifiable risk of an organization and determining appropriate managerial strategies in order to preserve and insure the assets of an organization (Ross Bodapati 2006). It includes proactive management techniques that are designed to protect an organization from losses. Risk management process also includes risk controls through risk evaluation, selecting management alternatives, implementing ap propriate strategy and monitoring the results of implemented strategy. The most important objective of risk management is to divert budget dollars from non productive uses to productive uses (Ross Bodapati 2006). Massingham (2010) exhibited in its research that risk management and knowledge management are related with each other. He described that knowledge is necessary to comprehend and manage the risk. Knowledge can reduce the risk leading to better risk management as knowledge assist risk identification, risk quantification and risk response (Massingham 2010). Process of knowledge management also helps in facilitating risk management such as by transferring knowledge to decision makers, improving accessibility of knowledge, embedding knowledge in controls system and avoiding the financial catastrophes that is caused by poor risk management. The different tools of knowledge management helps in manage the risk in a better way (Massingham 2010). Flouris Yilmaz (2010) used h uman factor to describe risk management. The research exhibits that risk management is the process of identifying and assessing human factor based risk. Effective management of human resource based risk helps to achieve corporate success. To manage the human factor based risk, it is necessary to emphasis on both more systematic decision framework and some new assessment tools. New human factor risk management model is used that helps in better management of human risk management (Flouris Yilmaz 2010). According to Damodaran (2008), risk management is part of everyones job. Some decades ago risk management was viewed as finance function in which the CEO plays the role of risk measurer, assessor and punishers. The main function of risk management is risk assessment and risk hedging. With the evaluation of strategic risk management and enterprise risk management, involvement of other person in the organization is also increased. Now risk management has become the part of everyones job (Damodaran 2008). Risk management is a set of activities and measures that are aimed to deal with risk to maintain control over the entire organization. In risk management, it is necessary to identify the risk, some other strategies are also necessary for risk management. A standard risk management program includes different aspects such as policies procedures, code of conduct, internal controls, physical security, communication security, continuity plan and monitoring reviews. To make a standard risk management program, it is necessary that risk management is properly defined in the policies of a firm (Quinn 2007). Schneier Miccolis (1998) described about holistic risk management approach in their study. Holistic risk management approach directly deals with enterprise risk management. In enterprise risk management (ERM), all risk of a company is considered on an enterprise level. Practices of ERM are quite different in all organization as each company is unique for a pa rticular risk. ERM is a systematic approach to manage risk, in which risk, risk factors and mitigation programs are considered on a business wide basis (Schneier Miccolis 1998). Burnaby Hass (2009) described that the objective of enterprise-wide risk management is to develop strategic corporate objectives that are measurable, identify the risk that may prevent accomplishment of the corporate objectives and to identify strategies that will be helpful in mitigating to those risks (Burnaby Hass 2009). Risk management includes several steps such as mandate from the top, ERM department buy-in, decide on control framework, determination of all risks, accessing risks, business unit objectives performance measures, objectives control summary, monthly ERM reporting system, analysis by ERM department and continuously monitoring of the processes. Managing risk is the part of corporate governance and ability of an entity to achieve results (Burnaby Hass 2009). Demidenko McNutt (20 10) described a definition of risk management that is provided by COSO ERM. It is a process that identify potential event that may affect an entity and managing risk within its risk appetite that will help in achieving organizations objectives. This ERM process is affected by an entitys board of director, management and other personnel. Other definition is provided by ASNZ 4360 that states risk management as an integral part of good business practices and quality management and it is a continues process of improvement (Demidenko McNutt 2010). Demidenko McNutt (2010) described in its research that enterprise risk management is a key component of corporate governance. It helps in balancing the relationships between companys management, shareholders, board members and other stakeholders. Risk governance approach helps in developing an ethical ERM system and provides a robust approach to manage an organizations risk profile. A clear risk management structure with a defined set of a ccountabilities insures good governance with ethical codes, roles and responsibilities. Audit committee that is facilitated under the risk management focuses on the overall risk profile, framework and internal audit focuses for assurance of effective risk management (Demidenko McNutt 2010). The different frameworks help to implement the requirements of risk management and internal control such as committee of sponsoring organizations (COSO), ERM and Australian and New Zealand risk management standard (ASNZ) 4360:2004. COSO ERM was developed by the Tread-way Commission in 2004 that helps organizations to establish a better ERM system. The ASNZ 4360:2004 has become an accepted practice approach of risk management in Australasia (Demidenko McNutt 2010). Figure 1: Source: (Demidenko McNutt 2010). The above diagram shows the ERM system provided by COSO that includes eight different components such as internal environment, objective setting, event identification, risk asses sment, risk response, control activities, information and communication and monitoring. It helps in looking at risk of an organization both internally and externally with an ethical perspective (Demidenko McNutt 2010). Figure 2: Source: (Demidenko McNutt 2010). The above figure 2 describes risk management standards provided by ASNZ 4360:2004 that contributes to good corporate governance. This process includes five stages such as establish context, identify risk, analysis risk, evaluate risk and finally treat risk (Demidenko McNutt 2010). Greanstein Vasarhelyi (2002) described risk management as a methodology that assesses the potential of future event that may create adverse affects for an organization and implementing cost efficient strategies that help in dealing with these risk. This definition includes different elements such as assessment and identification of future events. Once future events are identified, the prevention and detection strategies are proposed. The research also described a risk management paradigm that is a continue process to recognizes risk management (Greanstein Vasarhelyi 2002). It includes five stages such as planning, analyzing, identifying, controlling and monitoring. Some characteristics for risk management controls such as redundancy, consistency, clearly written policies, fairness, and better communication are also defined in the article (Greanstein Vasarhelyi 2002). Chelst Bodily (2000) defined risk management as a set of actions that reduce the impact of less favorable outcomes associated with a strategy. The study exhibits that risk management focuses on to reduce downside risks. The decision tree analysis helps to establish risk management strategy (Chelst Bodily, 2000). Mbuya (2009) defines risk management as a structured and disciplined approach that aligns strategy, process, people, technology and knowledge with the purpose of evaluating and managing the uncertainty in the organization. The ris ks are classified as financial non financial risk, static dynamic risk, fundamental particular risk, pure speculative risk (Mbuya, 2009). Main goal of risk management is to create, protect and enhance shareholder value by managing uncertainties that could influence to achievements of organizational objectives. The study also describes the process of risk management into three distinct stages namely identification, analysis and management or response (Mbuya, 2009). Maguire (2002) described that many organizations are taking risks with the development of their information system. In information system area, risk is viewed as fire, fraud, computer failure and unauthorized access. The research also explains how the risk is managed in the development of information system such as use previously unused platform failure to deal with known and unknown bugs, develop qualified staff to deal with risk, provide limited access to users and use of system development methodology (Maguire, 2 002). Frenkel, Hommel, Dufey Rudolf (2005) says that risk management is a cure for market imperfections. These imperfections arise due to conflicts of interest among shareholders, distortions introduced by taxes, and transaction cost and legal system. Risk management reduces these imperfections as it is tied directly to the government issues such as how investors monitor, control and compensate to protect their investment in the company (Frenkel, Hommel, Dufey Rudolf, 2005). According to Das (2006) risk management is the identification of risks (market, credit, liquidity, model and operational risk) and the quantification of risk for the financial loss from the specified risk. To make risk management effective, it is necessary to establish an appropriate risk management function. Risk management function is responsible for the development and implementation of risk policies, monitoring compliances in risk policies and reporting risk information to board of directors and othe r senior management. According to Andresen (2007), risk management is the most important competency of the project manager. If project manager acts proactively and rapidly, actively monitor the process and build contingency plan then it will be significant to facilitate an effective project risk management. Risk management procedures: Kallman Maric (2004) described in their research about a new risk management model. This model captures the important aspects of previous models and at the same time, it attains a flexible format for achieving new discoveries in management (Kallman Maric 2004). This new model includes five steps such as program development, risk analysis, solution analysis, decision process, and system administration. First step in risk management process is to develop a risk management program. The main purpose of this program is to establish a management system that helps an organization to achieve its goals (Kallman Maric 2004). This step includes three stages like planning, organizing and writing a risk management policy. In planning, stage risk management objectives are established and the success of this process is directly linked with this step (Kallman Maric 2004). After planning, organizing stage is performed that deals with fitting the risk management department into the organizational structure, delegating authorities and responsibilities and deciding on allocation of cost. In last, a statement is prepared that describes the risk management process and its goals (Kallman Maric 2004). Second step in this model is the risk analysis that includes different processes such as identifying, measuring and evaluating the organizations risk. Firstly, the risk is identified with the help of different methods and then data is collected on the basis of probability of loss, severity and timing. It helps managers to understand which risk are the most serious constraints to achieve the organizations goal (Kallman Maric 2004). Thir d step in risk management process is the solution analysis. The main purpose of this step is to analyze the possible options that are available to manage the risk. Next stage is the decision process that involves decision models to make decisions, getting the needed support for those decisions and implementing the portfolio of solutions that helps in eliminating the impact of risks (Kallman Maric 2004). Final stage is system administration. Main purpose of this stage is to understand either the risk management activities are effective in helping the organization to achieve its goals or not. It includes three different stages monitoring, judging and communicating the success of whole program (Kallman Maric 2004). According to Alexender (1992), risk management process includes a number of stages. First stage is the risk identification. This stage involves a comprehensive analysis of all risks in the current business operations. These risks include both organizational and manageri al risks. It also includes knowledge of the law and legal relationship, human factors and trade action union. A variety of techniques are used to identify the risk. Second stage is the risk analysis in which identified risk and their impact on the organization is analyzed (Alexender 1992). This analysis is based on different factors such as qualitative and quantities factors. After analyzing the risk, the risk control step is performed. It includes proper response to the risk either by physical or by procedural measure. It also enhances ability of the organization to transfer and allocate risks through various resources. Different organizations use different approach to accept risks that make it essential to identify how much risk can be accepted by an organization. Such as some organization make risk management policies to prevent or cure risks and others seek to transfer or insure (Alexender 1992). The risk handling includes all management decisions to predict future and give r esponse to the risks. Future prediction includes two factors such as knowledge and response. Knowledge refers what the managers know about the situation and response refers how to give response to the situation in terms of speaking, acting or waiting for situation (Alexender 1992). The last step of risk management process includes the financing to the strategies and planning that are developed to eliminate the risk and to facilitate effective risk management framework. Alexender (1992) exhibited that it is not possible to eliminate the risk completely from the organization. A firm must plan for financing the losses that can occur due to a particular risk. Example of financing the risk is insurance and self funding. The risk management is the responsibility of every person in the business enterprise that helps the organizations to enhance their competitiveness (Alexender 1992). He also describes about contingency planning that encompasses the risk management process and written plans which help an organization to manage the risk. This planning process includes three phases such as pre-emergency, emergency and recovery. If a firm use an effective contingency plan it provides better advantage to the firm by providing protection against uncertainties of businesses (Alexender 1992). Barton Hardigree, 1995 described in its research about the risk management policy. He says that risk management policy is necessary to guide risk managers. Risk management policy is prepared with the interaction of both corporate risk manager and the senior management of the firm so that overall risk profile remains in the touch of management team. According to him risk management policy assists risk manager in making decisions regarding to the methods of treatments of loss exposure and levels of retention in the use of insurance policy (Barton Hardigree, 1995). Enterprise Risk Management Committee, 2003 described in its research about the risk management process that is b ased on Australian/ New Zealand standard in risk management (AS/NZS, 4360). It describe seven steps process for risk management such as establish context, identify risks, analysis or quantify risk, integrate risk, assess risk and treat risk. These are as below: Establish Context- It starts with identify the relationship of the enterprise with its environment and also with its different stakeholders. It also identifies the SWOT analysis of an enterprise. It also identifies the overall objectives of the enterprise and strategies to achieve these objectives. At last it identifies the risk categories that are relevant to the enterprise (Enterprise Risk Management Committee 2003) Identify Risk- This step start with documenting the conditions and events that creates threats in the achievement of objectives of an organization (Enterprise Risk Management Committee 2003). Analysis and quantify risk- After identify risk it is necessary to analysis the risk by creating probability dis tribution of outcomes for each material risk. Different qualitative and quantitative techniques are used for this such as sensitivity analysis, scenario analysis and simulation analysis (Enterprise Risk Management Committee 2003). Integrate risk- In this step all risk distributions is aggregated, determine portfolio and correlation effects of risk and finally express the result (Enterprise Risk Management Committee 2003). Assess risk- In this step priority is given to the risk on the basis of contribution of each risk to the aggregate risk profile (Enterprise Risk Management Committee 2003). Treat risk- This step described about different strategies to treat risk such as decision as to avoid, retain, reduce, transfer and exploit risk. In last monitor and review is done in which continue gauging of the risk environment and the performance of risk management strategies are involved (Enterprise Risk Management Committee 2003). Risk management in financial institution Acc ording to Sensarm Jayadev, 2009, risk management is a central activity of commercial bank. Bank focuses risk management by their activities. Financial system use financial perspective rather than institutional perspective to analysis the risk management. In functional approach the activities of bank is linked with the function performed by them. Financial institutions believe in distributing risk amongst different participants. They found in their research that modern financial institutions are in the business of risk management by undertaking the function of bearing and managing risk on behalf of their customer. They manage risk by pooling risk and sale their services as a risk specialists. An effective risk management in banking system enhances the value of firm and shareholders wealth (Sensarm Jayadev, 2009). They say that a commercial bank deals with five types of risk like credit risk, interest rate risk, liquidity risk, solvency risk and operational risk. He described ris k management as a process that start with identifying risk then quantifying risk and control risk (Sensarm Jayadev, 2009). According to Cumming Hirtle, 2001, different financial institutions recently increased their emphasis on consolidated risk management that is some time called as enterprise risk management. Consolidated risk management refers a coordinated process that measure and manage risk on firms perspective (Cumming Hirtle, 2001). This process is quite different from other processes. This process includes different aspects such as coordinated risk assessment, management of different types of risk that are faced by a firm, an integrated risk evaluation process that links the different geographical locations, legal entities and business lines (Cumming Hirtle, 2001). Consolidated risk management is not only use for quantify risk but also use in business decision making process that support management to make decisions that is related with risk taken by both individu als business line and firm as whole. They also discriminate between the risk measurement and risk management (Cumming Hirtle, 2001). According to them risk measurement is related with quantification of risk exposure that deals with variety of forms such as value-at-risk, earning-at-risk and stress scenario analysis. In contrast risk management refers the overall process in which financial institution follows different phase such as define business strategy, identify risk, quantify risk and control risk (Cumming Hirtle, 2001). They further described in their research about principles that supervisors should follow to ensure the financial conglomerates that are adequate in identifying and managing risk. These principles are issued by an international forum of banking, securities and insurance supervisors (Cumming Hirtle, 2001). Risk management in project developments that are related with construction Mills 2001 described about construction industry in their research. He d escribed it as a dynamic, risky and challenging business. He says that risk management is an important part of construction industry in order to help in decision making process. Risk can be managed effectively as risk can affect productivity, performance, quality and the budget of a project. He further described about systematic risk management. Systematic risk management is a management tool that requires practical experience and training for the use of different techniques (Mills 2001). Construction industries face different type of risk such as size of the project, complexity, speed of construction, location of the project and familiarity with work. To manage these risk management process is used that includes different phases such as risk identification, risk analysis and risk response. He described risk identification as a first step. An early identification of risk is helpful for project managers as it provides different benefits such as provide attention of project managem ent on the strategies of the controlling and allocating of risk, highlights area that need further design and development work (Mills 2001). Risk analysis is next step to manage risk. Different techniques are used to evaluate risk such as code optimization, sensitivity analysis, probabilistic analysis, Monte Carlo simulation and kinetic tree analysis etc. He said in its research only few projects considered risk in a consistent and logical manner and other considered it as subjective. Last step in risk management is risk response. Mills described different way to give response to risk such as avoiding risk, reducing it, transferring it or absorbing it. According to him the best way of give response is to allocate the risk to the party that is interested to accept it. Mills find in its research that risk management does not remove all risk from a project but insures that risk is managed efficiently. It ensures the projects that are genuinely worthwhile are sanctioned (Mills 2001). As SSFS deals in IT sector there are some principles that deal with IT risk management. Isaca, 2009 described in its research about the principles that help in effective management of IT risk. These principles are based on ERM principles (Isaca, 2009). These principles provide a model to manage IT risk by enabling enterprise in establishing practice and benchmark for their performance. Some principles are described with the help of below diagram such as it is necessary to connect business activities to effectively manage the risk. Combine the management of IT related risk and overall enterprise risk management. Establish balance between the cost and benefit of managing risk. Source: (Isaca, 2009). Establish proper communication system for managing risk and also establish process for IT risk management (Isaca, 2009). Risk management for Financial Centre Services Financial centers provide different type of service to different customers. By this reason different type of risk is considered by a financial center. These are as below- Interest Rate Risk- Financial centers face interest rate risk when the maturities of its assets and liabilities are mismatched. It is because the primary securities purchased by financial center have different maturity period then the secondary securities that are sold by these centers (Sounders Cornett 2008). Market Risk- Market risk arises in financial centers due to the changes in interest rate, exchange rate and other prices that affect the assets and liabilities of these centers (Sounders Cornett 2008). Credit Risk- It arises when customer of financial centre not paid their loan and securities that is promised by these centers (Sounders Cornett 2008). Off-Balance-Sheet Risk- This Risk arises due to contingent assets and liabilities of these centers. Foreign Exchange Risk- This risk arises wh en the change in exchange rate affects the value of assets and liabilities that are used in foreign currencies (Sounders Cornett 2008). Country and Sovereign Risk- This risk arises when the repayment to foreign investors are interrupted due to some intervention of foreign governments (Sounders Cornett 2008). Technology Risk and Operational Risk- Technology risk arises when the technological investment of these centers not produce anticipated savings. Operational risk is arises when the existing technology and support system of these centers breakdown (Sounders Cornett 2008). Liquidity Risk- Liquidity risk arises when liability holders of financial centers such as depositors and insurance policyholders immediately demand for cash (Sounders Cornett 2008). Insolvency Risk- Insolvency risk is the outcome of a risk faced by an organization such as interest rate risk, market risk, credit risk, country risk etc. In this risk financial centers do not have enough capital to o ffset the values of its assets relative to its liabilities (value decline due to some type of risk) (Sounders Cornett 2008). Framework for measurement of risk Measuring Interest Rate Risk

Causes Of The American Civil War - 1769 Words

The American Civil War was one of the most tragic events in American history. The American Civil War began on April 12, 1861 and ended on May 9, 1865. It was a bloody war between states. Hundreds of thousands of men died in the American Civil war. The war was fought between brothers and friends on each side. The issue of slavery was dividing the nation apart and it was a fight to death. The Confederate States of America seceded because they wanted slavery to continue and believed that they did not have a voice in the United States anymore. President Lincoln, however, did not recognize the Confederate States of America; he called them States in rebellion. The American Civil War ultimatley helped unite the divided United States. The issue†¦show more content†¦In 1854, Stephen Douglas attempted to apply the principle of Popular Sovereignty with the Kansas-Nebraska Act. A consequence of Popular Sovereignty’s application was how fast the pro- and anti-slavery radicals rush ed to populate Kansas and determine its fate, leading to violence. Shortly before the Civil War Uncle Tom’s Cabin was published and laid the ground work for the conlict. The book, written by Harriet Beecher Stowe, revealed the true horrors of slavery. It’s depictions were so strong that it was banned in the south. The Election of 1860, less than a decade later, was the last straw for the South. The election of President Lincoln angered many southerners since not one state or even person voted for him; in fact, southerners were not given the option on their ballets, yet he still won. South Carolina was the first to secede because they believed that they did not have a voice in the Union. After their secession, all the southern states seceded one by one(HistoryNet). The Battle of Gettysburg is considered the turning point of the Civil War. The Battle of Gettysburg was an important event in the history of the United States because many lives from each side were lost, and it was a battle that ended in victory of the Union. The Battle of Gettysburg last three summer days. The Battle of Gettysburg took place on Union soil. General Lee planned to march with Confederate Army to Gettysburg. He sought their position being on northern soil to hisShow MoreRelatedCauses Of The American Civil War760 Words   |  4 PagesThe Civil War was one of the most momentous and pivotal periods in U.S history. After decades of tension between the North and South over matters involving expansion, slavery, and the states rights these caused the beginning of a horrific devastating time known as the American Civil War, that lasted between 1861-1865. Within these 4 long barbaric and destructive years, it led to an innumerous amount of political, social, and economical changes for the U.S. Leaving 2.4 million dead and millionsRead MoreCause Of The American Civil War1403 Words   |  6 Pagesdebates on the causes of the American Civil War. Many have stated that slavery w as the primary cause for the Civil War. Some historians have argued that there were other causes of the Civil War. The one thing that all historians agreed upon was the division between the North (known as the Union) and the South (known as the Confederacy) that escalated on the soil of the United States of America (In Stampp, 1965). The battle between the two states is what created the â€Å"American Civil War.† The AmericanRead MoreCauses of the American Civil War2672 Words   |  11 Pagesï » ¿ The American Civil War: Causes, Victor, and Validity Keagan Koerber History 205 Professor Childress December 9, 2014 The slightest mention of the American Civil War is enough to bring graphic and often horrifying images into one’s head: mountains of dead soldiers, amputations without anesthesia, and diseases running rampant. The Civil War was a war that no one wished for, it resulted in the deaths of several hundred thousand American lives, but it is often justified by itsRead MoreThe Causes Of The American Civil War Essay2218 Words   |  9 PagesDay One: Grades: Elementary grade level 5th-6th Goal: Students will be able to identify the causes of the American Civil War. Objectives: 1. Students will be able to compare the cultures and economies of the Northern and Southern states. 2. Students will be able to summarize the main points of the Missouri Compromise, the Kansas-Nebraska Act, and the Declaration of Causes of the Seceding States. 3. Students will be able to discuss the actions of John Brown at Harpers Ferry and the reaction ofRead MoreThe Main Cause Of The American Civil War1047 Words   |  5 Pagesone main cause of the American Civil war must be resolved, and while there are many ideas, history reveals that there was only one. There are many arguable motives to the start of the Civil War, but there are four main concepts. These four concepts were slavery, taxation, the election of Abraham Lincoln and lastly, struggling with power between the Northern and Southern states. To start with, the end of slavery is undoubtedly one of the most popular arguments to the creation of the Civil War. WhileRead MoreThe Ultimate Causes Of The American Civil War941 Words   |  4 PagesThe American Civil War was a war fought within the United States of America between the North (Union) and the South (Confederacy) The war was one of the most critical events in American history. â€Å"It is estimated that 623,000 soldiers died during the Civil War†(Garrison) starting from 1861 and ending in 1865. While many still debate the ultimate causes of the Civil War, author James McPherson writes that, The Civil War started because of uncompromising differences between the free and slave statesRead MoreCauses of the American Civil War Essay1181 Words   |  5 PagesThe Civil War was caused by a myriad of conflicting pressures, principles, and prejudices, fueled by sectional differences and pride, and set into motion by a most unlikely set of political events. From the co lonial period in America where the institution of slavery began, through the period of the revolution whereby blood was shed to validate the notion that all men were created equal (yet slavery existed in all thirteen colonies), to the era of the Civil War itself, it is undoubtedly clear thatRead MoreCauses of the American Civil War Essay1118 Words   |  5 Pagesversion of the civil war and even now I am just coming to a full understanding of the truth. The civil war was a terrible rift in our nation, fought between the northern states (known as the union) and the southern states (the Confederate States of America). The people’s opinions were so divided over the issues of the civil war that, in some families, brother was pit against brother. Eventually, the south succumbed to the north and surrendered on April 9th, 1865 but not before the war had caused 618Read MoreEssay on Cause of the American Civil War1732 Words   |  7 Pages The cause of the American Civil War has b een a politicized subject for the past 152 years. There are many different theories for what the main cause is, however the best answer is an all of the above approach. The cause of the war that divided the nation cannot be narrowly defined into a single issue but each cause is affected and tied together. The main causes that resulted in the Civil War were the issue of nullification, tariffs, but most importantly just an overall difference in their waysRead MoreMajor Cause Of The American Civil War1224 Words   |  5 PagesMAJOR CAUSES OF THE AMERICAN CIVIL WAR I. Introduction to Civil War The American Civil War was a war within the United States of America fought by the North (Union) and the South (Confederacy) starting from 1861 and ending in 1865. This war was one of the most devastating events in American history, consuming more than 600,000 lives. It was thought to be one that molded the character of the American individual today. This war was seen as a War for Southern Independence or War of Rebellion for the

Latin America Transformed Free Essays

This work focuses on four different areas for understanding the dynamics of Center America and the Caribbean. The first is the comparative evaluation of development policies in the region prior to neoliberalism. The second involves analytical work that combines the nature of the neoliberal model applied in the Caribbean and Central America. We will write a custom essay sample on Latin America Transformed or any similar topic only for you Order Now The third is the study of the role of migration and trading blocks in contemporary Caribbean and Central American development. The fourth considers the Cuban exception as a socialist state in a capitalist sea. The republics of Central America and the Caribbean share many historical characteristics. All of these countries formed part of the Spanish colonial system for three centuries or more. However, both regions have inherited highly unequal distributions of agricultural land (Gwynne Kay 104). Although the countries spun out of the Spanish colonial orbit at different times and in different contexts, Spanish colonialism established important elements of coherence that helped lay the foundations for the challenges of nation-state construction after independence. Furthermore, Central America and the Caribbean have shared, since the late nineteenth century, the strong political, social, and economic influence of the United States and the development of agro-export economies. Either through the direct creation of classic enclave economies (mining, sugar, timber, bananas, and so on); the development of export infrastructures; or the less visible participation in the production and marketing of other products, such as coffee, cattle, or food, foreign -especially U.S., German, and English – entrepreneurs helped connect the region firmly to the North Atlantic economy. Beginning at the end of the nineteenth century, national elites struggled to channel and contain social and political movements in order to promote the kind of order and progress they and foreign investors depended upon and also to construct memories, histories, and images of nations that were functional to their political and economic projects and their dreams of national power and stability. At the same time, foreign political and economic control and their own internal weaknesses and contradictions led them to seek, at least rhetorically, national unity and independence and to make strategic concessions to popular classes in an attempt to form nationalist or populist alliances. This kind of opening both influenced the ways popular struggles came to be defined and created situations in which popular forces could effectively make their voices heard in the national political arena. CBI should be seen as a vanguard policy for a reconstituted US regional hegemony under neoliberalism (Gwynne Kay 105). Caribbean governments in the context of their efforts at promoting economic and social development and with the external debt crisis hanging heavily over their heads had been stressing the need for a meaningful, coordinated program of emergency assistance in the form of aid and market and investment preferences. Indeed as early as 1979, Edward Seaga, then the opposition leader of Jamaica, proposed the need for a mini-Marshall Plan and a Puerto Rico-style relationship between the US and the Caribbean. CBI could therefore be regarded as a response to those appeals. The most salient studies in Cuban history written in the 1970s and 1980s focused on the transition from slave labor to free labor in Cuba’s plantation economy and were led by the research of Manuel Moreno Fraginals into Cuba’s plantation sector and Rebecca Scott’s work on the abolition of slavery and its impact. Since then, studies have addressed issues of racial and ethnic formation and identity, immigration, and social banditry, as well as the women’s and labor movements. Jorge Ibarra has begun a process of revision and reconsideration of the classic themes of Cuban historiography, including the island’s social structure. Since the nineteenth century Cuba has essentially had a one-crop (sugar cane) exporting economy with the concomitant vulnerabilities of output and price fluctuations and deteriorating terms of trade (Gwynne Kay 118). Cuba is now almost totally isolated and potentially a source of future conflict and violence. Cuba has ceased to be the totalitarian state it once was as the state itself was severely weakened by the collapse of the Soviet Union in 1991. Spurred on by the international climate favoring regional trading blocs, Middle American countries have recently formed the Association of Caribbean States, but beyond several regional summits have taken no firm steps towards region-wide economic integration (Gwynne Kay 100). The Association of Caribbean States (ACS) encompasses 200 million (plus) inhabitants of the region and, along with free trade arrangements between CARICOM and Venezuela, Colombia, and the Southern Cone countries, represents the consolidation of a Caribbean strategy to participate as fully as possible in the movement toward hemispheric free trade. Ironically, the Caribbean is moving in the direction of the foreign conception of the region in that U.S., European, Japanese, and other external policy-makers have long dealt with the Caribbean programmatically as a seamless, if culturally diverse, unit. Regional academics and policy-makers, however, depart from this programmatic view in recognizing that certain aspects of sub-group uniqueness must still be maintained. For example, the existing Caribbean Community (CARICOM) integration area will for the foreseeable future co-exist with the ACS. For both the Caribbean and Central America, the version of import substitution adopted to a large extent involved US multinational corporations (MNCs) relocating production facilities within the region to serve customers there, rather than a dramatic expansion of domestically-owned industries (Gwynne Kay 100). Both liberal, free-market rhetoric and collective bodies of capitalists (domestic holding companies and multinational corporations) spearheaded the drive to enter foreign areas. The ideology praised individualism and free market values, but the actual agencies of penetration were collectivized planning organizations. U.S. businessmen and politicians looked first to Central America for markets because that region had long been expected to become a closer economic partner. But U.S. officials conducted little study of the Central American economic situation and entered into no systematic consultation with Central American leaders because the U.S. vision expressed in the doctrines of Manifest Destiny and the Open Door was restricted to resolving U.S. domestic problems, not meeting Central American needs. The Americanism initiated in the 1880s, which was expected to create the market conditions necessary to assure U.S. commercial expansion, also exposed fundamental differences between the U.S. and Central American visions. While the United States proposed mainly commercial programs, the Central American delegates often struggled to include political, social, and cultural affairs. Among the alternatives available, it seems that the neoliberal model has begun to prevail. This model, which is well known and well supported from outside, substantively modifies the structure of Central American countries. Its hallmark is the absence of attention to social aspects. In the case of Central America, it eliminates what little economic equilibrium had existed before, producing a growing concentration of wealth in the hands of the few, and a progressive pauperization of the rest of the population. Consequently, it will crumble democracy throughout the region. Neoliberalism puts pressure on already highly-trade-dependent Middle America to export more (Gwynne Kay 104). The progress or modernization pursued by the Latin American governments required increasing sums of money to import the machinery, railroads, luxuries, and technology that would be used to try to transform their nations into replicas of the European nations the elites and middle class so much admired. To earn that money, the Latin Americans increased their exports, the foods or minerals they traditionally had sold abroad. The export sector of their economies received the most attention. In that sector, they increasingly concentrated investments, technology, and labor, leaving the domestic economy weak and increasingly inadequate. The number of those exports was limited. The highly prized railroads, built at staggering expense, opened new lands for exploitation but always were linked to the export sector, rushing the material products of the interior to the coastal ports where ships waited to transport them to Europe and the United States. Most of the modernization concentrated in the export sector. It contributed to some impressive growth but did little to develop Central America. In fact, modernization contributed to deepening dependency. Central America and the Caribbean is a region of small, economically vulnerable and trade-dependent countries surrounded by larger and more industrialized countries that are moving more aggressively towards economic integration (Gwynne Kay 99). From one perspective, global transformations create challenges and opportunities for policymakers who can adapt to changing environments and prudently recalculate basic questions of survival, viability, and effectiveness. There is reason to believe that this process is under way in Cuba, though the nature of these calculations and their long-term consequences are unknown. For example, Cuba must carefully calculate its interests in a context of rapidly changing balances and one in which its currency – defiance, moralism, anti-imperialism – has lost much of its value. Systemic reasons rooted in a command model and a series of blunders and poor decisions by government largely explain Cuba’s economic predicament. It is increasingly recognized in Cuba itself that its substantial economic, financial, and trade dependence on the former communist world actually deprived it of the advantages that would have accrued to it had relations been expanded with more capitalist countries. Unfortunately, Middle America denotes a region anxious about, and reacting somewhat defensively to, hemispheric movements towards trade alliances to its north and south. Spurred on by the international climate favoring regional trading blocs, Middle American countries have recently formed the Association of Caribbean States, but beyond several regional summits have taken no firm steps towards region-wide economic integration (Gwynne Kay 100). The revival of the integration movement has been encouraged by the perceived world wide trend to form trading blocks spearheaded by the European Community (EC). This development led to a perceived need in the United States, Canada, and some Latin American countries to form a hemispheric economic block in order to counterbalance the strengthened European integration movement. Once the NAFTA movement got underway, some LAC countries realized the need to participate in it to avoid the possible negative economic effects that NAFTA may have on their economies. The Central American Common Market (CACM) consists of five countries with a long history of linkages: Guatemala, El Salvador, Honduras, Nicaragua and Costa Rica (Gwynne Kay 121). Together, the original CACM members experimented with the development strategy known as Import Substitution Industrialization, or (ISI). This strategy called for a change in the nature and structure of demand – away from imported consumer goods and toward imported industrial goods, which could then be used to produce domestically the same goods that would formally have been imported. During its initial stages, ISI was considered quite successful and was often credited with the economic â€Å"boom† that swept the region at the time of its inception. In reaction to neoliberalism, a growing number of people have tried to emigrate to North America and Europe, where about 5 million Caribbean islanders have gone since 1945 (Gwynne Kay 120). For example, Salvadorans initially migrated to San Francisco, while Hondurans migrated to New Orleans. Migration has been such an integral part of the Eastern Caribbean culture that almost every Eastern Caribbean citizen has a relative or friend living in a major country. This factor is significant when analyzing both the political and economic system of the Eastern Caribbean. Since 1979 there has been significant changes in migration patterns and, notably, in the volume of people leaving Central America. Not surprisingly, Nicaragua and El Salvador, both of which suffered tremendous damage from war and social unrest, witnessed one of the most dramatic migrations of their people to other Central American countries, Mexico, the United States, Canada, and elsewhere. To cite an extreme example, for every five people born in St Kitts and Nevis and alive today, two now reside in the United States (Gwynne Kay 120). Neoliberalism, in particular, has made a major contribution to the dynamic and contradictory processes of globalization in the Caribbean and Central America. One important conclusion that comes from this study is that the neoliberal structural adjustment programs are very limited. Although export agriculture has produced some wealth, it has also created massive structural problems of inequality, and it has not achieved self-sustained, modernizing growth over the long run. In conclusion, a feature of Caribbean and Central American migration that deserves further exploration and research is the potential for continuous and circular migration, principally between the islands of the Caribbean and the United States. This phenomenon has important implications for labor markets in regions of origin and destination.   Many of the people now returning to their homelands are bringing with them the wealth of accumulated knowledge and experience. This should significantly enhance the level of human capital in these Central American economies and serve as an important element for the growth and development of the region. Works Cited Robert N. Gwynne, Cristà ³bal Kay. Latin America Transformed: Globalization and Modernity. Arnold: London, 1999.    How to cite Latin America Transformed, Essay examples