Personal and Professional Skill Analysis Essay - 2290 Words

Introduction This assignment makes us identify our personal and professional skill and would help us on how to archive organizational and personal goals. As a manager/ Leader in a company we first need to analyze our skills and the ability to manage ourselves. The study will be discussed under 3 sections; 1. Elaboration on Self assessment and self development 2. Define self-development tool kits and Assessment of my current skills and issues 3. Develop a personal development plan (PDP). Under section 1, self assessment and self development will be defined along with the importance of them for a manager in a corporate environment. Section 2 will be used to identify our own self through a SWOT analysis, which details out personally and†¦show more content†¦Figure 1: Self-assessment and execution Figure 2: Importance of Self-Management Self-Development is a vital aspect in Individual learning. It is a responsibility and a commitment one has towards oneself, furthermore it is the greatest responsibility of all for an individual. Self-development helps one to curb on certain situations while it mends and molds himself as a human being. It however, becomes so imperative mainly because it affects the way a human being is categorized, e.g. If the individual is a home maker or career oriented person because one’s reaction towards other responsibilities can be analyzed by the way he/she managers the Self-development responsibility. For human beings, Perfection is known to be an impossible act, but if enthusiastically and whole-heartedly tried then and only then it will aid one to reach close to it. This is when, that Self-development comes to play in one’s life, as Self-development is the dynamic factor that manipulates ones strengths and weaknesses as a human being. Hence, using the Self-developmental abilities the individual needs to gain complete control over him/her in order for them to reach closer to perfection or any other goal in life. In-order to do so, the personage has to master the art of overcoming his/her weaknesses using that one asset, which is Strength, to help fight their weaknesses.Show MoreRelatedAnalysis of Strengths and Weaknesses1022 Words   |  4 Pagesacross four dimensions. These include personal and professional accountability, career planning, personal journey disciplines and reflect practice reference behaviors and tenets. The intent of this analysis is to evaluate my stren gths and weaknesses in each of these four areas. In addition, a discussion will be completed on how current leadership skill sets will be used for advocating change in my workplace. The conclusion of the paper will concentrate on one personal goal for leadership growth, includingRead MorePERSONAL ND PROFESSIONAL DEVELOPMENT Essays1351 Words   |  6 Pagesï » ¿ Lesson Plan – 2 PERSONAL AND PROFESSIONAL DEVELOPMENT Unit Title: Personal and Professional Development Topic: Personal Swot Analysis Week 2 Time: Variable Duration: 5 Hours Lecturers: Module Leader: Joy Meme Venue: Variable No of students: Variable Lesson Objectives: 1.Understanding of the use and concept of a Personal SWOT Analysis 2.Completion of a Personal SWOT Analysis 3.Reading and discussion of the article-â€Å"How to LeadRead MoreThe Industry Of Higher Education977 Words   |  4 PagesThe Industry of Higher Education The overarching industry of higher education encompasses a variety of different disciplines which impact people every day. Although people do not always realize the extent of this impact, professionals working within the field of higher education are the educators of the future. The industry of higher education produces a continuous feedback loop of communicators, teachers and mentors in educating the preceding generation of students. As our society continues evolvingRead MoreRecruiting, Hiring, Evaluating, and Compensating1194 Words   |  5 Pagesthat conducting a thorough job analysis is an important step in filling a job opening as well as contributing to the successful growth of an organization in terms of finances and talented workers. A job analysis should be conducted to gather information about the responsibilities, duties, skills of a particular job. In addition, it can include information about the work environment and desired education and experience. There are several ways to conduct a job analysis including using the OccupationalRead MoreAn Analysis Of Media In Social Media862 Words   |  4 PagesThis step will involve an analysis of media, such as Facebook, LinkedIn, Google-Plus, and Twitter to market oneself and grow their career. The social applications have not only expanded the job market but have also developed tools that marketers can use to develop their own business consulting services online. The primary social media channel of choice will be LinkedIn, which is a professional networking site with over half a billion active e users engaging in different forums and LinkedIn groupsRead MorePersonal Development Plan Essay840 Words   |  4 PagesPersonal development is the process of maintaining on e’s well being in terms of physical, social and psychological aspects. It is the constant process of developing and enhancing personality through learning and socialization processes. Undoubtedly, for personal development, certain skills and knowledge are required to be achieved. Armstrong (2006) rightly says that the personal development plan incorporates a wider set of learning and development activities such as self-managed learning, coachingRead MoreHow A Newly Graduated Physiotherapist Can Prepare For Employment Using Self Analysis1126 Words   |  5 Pagesdevelopment and clinical knowledge. The Chartered Society of Physiotherapy [CSP] (2013) clinical supervision guidelines promote the benefit of clinical supervision for new graduates in adhering to Health and Care Professionals Council [HCPC] (2012) expectations of improving professional development and profiling evidence. There are differences in supervision, development opportunities and senior support for newly qual ified physiotherapists in the National Health Service (NHS) and private sector.Read MoreEA Brief 7001V1 v01 1 1305 Words   |  6 Pagesï » ¿ Unit 7001V1 - Personal leadership development as a strategic manager Introduction This unit is about understanding the strategic skills required to enable an organisation to achieve its ambitions. It requires you to demonstrate that you are able to identify and manage organisational skills requirements and personal leadership development and evaluate the effectiveness of the results. The unit is also about understanding how to create a staff welfare environment aligned to organisationalRead MoreProfessional Development Talks Around A Individuals Report1020 Words   |  5 PagesPERSONNAL AND PROFESSIONAL DEVELOPMENT  Introduction: Professional development talks around a individuals report. The motivation behind professional improvement is to upgrade one s abilities and information. It is critical to comprehend a individuals quality and shortcomings to recognize the capability of a person. It is fundamental to comprehend the right chances to arrange appropriately (Black and Plowright, 2010, p. 246). Another factor is taking the wrong steps drives a person to step withoutRead MoreComponents Of Training And Development924 Words   |  4 Pagesdesign process begins with needs assessment† (p. 113). The needs assessment process is composed of selected evaluation tools that determine that focus on measuring if its developmental processes are engaging employees in a learning experience where skills taught are being implemented and producing desired results (Noe, 2013). I will be discoursing the needs assessment tool selection plan that will evaluate the effectiveness of our school’s training and developm ent program within it organizational framework

Early River Valley Civilizations free essay sample

The four early river valley civilizations were the Sumerian/Mesopotamia, Egyptian, Harappan and Ancient China. All of these civilizations were located on fertile river beds to make planting crops much easier. They all made technological advances in their time span and set the ground for future generations. The Sumerian civilization also known as Mesopotamia/The Fertile Crescent is located between the Tigris and Euphrates rivers†¦. this is how it gets its name the Fertile Crescent. The climate for this civilization is dry except in the area between the rivers. The river flood at least once a year leaving a thick layer of mud called silt behind. There were draw backs to living hear though flooding was often unpredictable and very dry through the summer months. There were also no natural barriers so if you were a village out in the open you were likely to be attacked. Natural resources were also limited. The solutions to some of these problems were; they built irrigation ditches, put up walls and traded with people around them for resources that they lacked. Mesopotamia’s government structure was a city state. Each city in Mesopotamia had its own government, rulers, and warriors. Each city had its own god also in the center of each city-state was a ziggurat a place where that city-state’s god could be worshipped. Even though the cities all shared common culture they all functioned independently. The different rules often kept the ruling in the family for many generations this also known as a dynasty. The religion aspect of this civilization was polytheistic or believed in many gods. There were 3 branches to the social class priests and royalty were on top followed by wealthy merchants and ordinary workers. Women in this civilization were not allowed to attend school making it so they could not read or write unless you were wealthy. Slaves were used and they were not free. This civilization invented one of the first forms of writing also known as Cuneiform. They also invented the wheel, the sail and the plow. They were also the first to use bronze. At about 2,000 BCE Mesopotamia became the Babylonian Empire. The capital of this empire was Babylon built on the Euphrates River. The reign of power was held by Hammurabi. He is most well-known for his laws â€Å"An eye for an eye, an ear for an ear. These laws were strictly followed though even if they were very harsh. He unified all the city states into one large kingdom. The Egyptian civilization was located on a narrow strip along the Nile River. The geography of this land was desert on both sides providing them with natural barriers and protection form invaders. The desert also caused isolation for this civilization. They suffered from flooding but it was predictable. The form of government they had was theocracy where the ruler believed that they were divine and god-like. The whole nation of Lower and Upper Egypt was united as whole nation though. Egypt was ruled by a pharaoh otherwise known as a form of king. They also believed that the pharaohs were a type of god. So the pharaohs would play a role in political and religious roles. Egyptian people also believed that even after a ruler died they still ruled in the afterlife. The slaves of the society built giant temples or tombs for the rulers to be placed into along with many belongs and other earthly things to be passed on to the afterlife with them. These structures are what we know today as pyramids. The type of beliefs they had been polytheistic because they believed all rulers were gods. Societies social class was divided†¦You had the royal family†¦. the upper class made up of landowners, priests, army commanders and government officials. Then you had the middle class made up of artisans and merchants. Then there was the lower class made up of peasants and unskilled workers. Women in this society had the rights as the men and could seek for divorce. Their righting system was called hieroglyphics. They invented papyrus a form of paper to write on. This civilization was the first to use the stone column. They made great advances in medicine and used a number system with a base of 10 and had decimals. The Indus River Valley Civilization began at about 2500 B. C also referred to as the Harappan Civilization settle along the Indus River. This area was larger than Mesopotamia. They were farmers with very limited government control. There wasn’t much of a social class because they all lived in similar housing systems. They were peaceful people from what historians can tell because not very many weapons were found. Their religion is linked to Hinduism making them polytheistic. They suffered from yearly monsoons in the summer and they were predictable and this is when the river would flood. Ancient China developed along the Huang He/ Yellow River. The geography was ocean, desert, and high mountains. This caused China to develop in isolation leading them to think they were the venter of the world. They developed calligraphy writing and the art of paper making. In their society there was a sharp division between kings, nobles and peasants. There was also an emphasis on family and respect of parents/elders. The religion was worship to gods and to their ancestors. Oracle bones used to consult their ancestors. The writing system was unlike anything instead of a letter representing a sound it represented an idea making easier for people who spoke other languages to understand. A new idea of royalty that claimed rulers got their authority from heaven. This was known as the Mandate from Heaven. From here on out the Chinese would believe in divine rule. These meant disasters could be blamed on the rulers and they would frequently be replaced by the gods being unpleased. This led to a pattern of rise and fall of dynasties in China known as the dynastic cycle. This is the four great river valley civilizations. All of these civilizations made great contributions to future generations. They all had advances in technology and their own ideas on how a government system should be run. Each society had similar traits but they were all very different.

Leonardo da Vincis Contributions to Fine Arts

Question: Discuss about the Leonardo da Vincis Contributions to Fine Arts? Answer: Introduction Leonardo da Vinci was one the worlds greatest polymaths who also excelled in various fields like sculpture, architecture, music, literature, medical science, astronomy, history and many others, although he specifically excelled in the field of painting. He was also the most prominent figure in the High Renaissance period (1475-1525) of Italy. Leonardos Works: Early Age, 1480s, 1490s and 1500s, the Mona Lisa The Renaissance period in Europe saw a boom in the fields of literature, sculpture and painting. Many notable personalities enriched each of the fields with their immortal works. The most notable of them all was Leonardo da Vinci, who is also called as usniversal genius by modern historians. He excelled in many fields of study like science, botany, history, architecture, anatomy, etc. and he is recognized one of the greatest painters the world ever had (Freud). At an early age, Leonardo worked under the guidance of the then celebrated artist and sculptor Andrea Verocchio but soon, Leonardos brilliance of works far surpassed Verocchios. Leonardos first notable work was the Baptism of Christ, which was actually a work of Verocchio, assisted by Leonardo. Leonardos part of the work was so brilliant that it easily eclipsed Verocchios work in the painting. After this, he left Verocchios studio and started working on his own. Although, he changed subjects of the fields of his studies from time to time, he never left painting, and he created many masterpieces during various stages of his life. His early independent works mainly include several annunciations, depicting interaction between an angel and Virgin Mary (Lipton et al.). In the 1480s, Leonardo worked on three paintings, two of which were incomplete. Leonardo depicted a difficult phase of his life through St. Jerome in the Wilderness. This painting also contains evidence of Leonardos interest for anatomy. Another incomplete yet one of the best works of Leonardo was the Adoration of the Magi. It was a daring work with respect to the figure and the landscape, but Leonardo could not complete the work. His most important work of this period was the Virgin of the Rocks. This painting depicts infant Jesus with Virgin Mary and two other figures, one being an infant John the Baptist and the other his guardian angel, in a rocky landscape having whirling waters. One of the two versions of the painting is currently at Paris Louvre Museum and the other at London National Gallery (McCurdy). In 1498, Leonardo completed another masterpiece, The Last Supper that depicts the last supper of Jesus before his crucifixion. This painting is a very complex work and finds several interpretations by various researchers (Keele). In the early 16th century, Leonardo created the Mona Lisa, which is arguably the most famous and one of the best paintings of all time. One of the finest pieces of art, the Mona Lisa depicts a mysterious woman flaunting an elusive smile. Exact meaning of the smile is still unknown and explained differently by different researchers. As for the artwork, it was subtly drawn using oil on tempera like surface and with smooth painting technique without any sign of overpainting. Currently it resides at Louvre Museum in Paris. Other notable works of Leonardo include Virgin and Child with St. Anneamong others, which also influenced works of later notable artists like Raphael and Michelangelo (Lipton et al.). Conclusion Although, Leonardo da Vinci was a genius in multiple subjects, he specially excelled in fine arts, and his artworks influenced many other famous artists in the later period. He is arguably one of the greatest painters of all time. He was truly the greatest figure of the Renaissance in Europe. References Freud, Sigmund.Leonardo da Vinci-A Psychosexual Study of an Infantile Reminiscence. Read Books Ltd, 2015. Keele, Kenneth D.Leonardo da Vinci's Elements of the Science of Man. Academic Press, 2014. Lipton, Richard J., and Kenneth W. Regan. "Leonardo da Vinci: Proofs as Art."People, Problems, and Proofs. Springer Berlin Heidelberg, 2013. 29-34. McCurdy, Edward.The mind of Leonardo da Vinci. Courier Corporation, 2013.

A Slaves Life Essays - Slavery, African Slave Trade,

A Slave's Life Imagine, if you will, rising earlier than the sun, eating a mere snack- lacking essentially all nutritional value - and trekking miles to toil in the unforgiving climate of the southern states, and laboring until the sun once again slipped under the horizon. Clad only in the rags your master provided (perhaps years ago), you begin walking in the dark the miles to your home. As described by the writers Jacob Stroyer and Josiah Henson, this home was actually a mere thatched roof, that you built with your own hands, held up by pathetic walls, over a dirt floor and you shared this tiny space with another family. Upon return to home, once again you eat the meager rations you were provided, and fall into bed only to begin again the next day. Day in and day out you faced brutality by your master, unbearable labor, and slow starvation, and watched your family do the same. Such was the life of a slave in the antebellum south: relentless, unforgiving, and tragic. The life of a slave was one plagued by shifting loyalties, struggle for survival, and prayers for a brighter future, if not for oneself at least for children and grandchildren. So, exactly what was it to be a slave? It was exactly that, to be property of another, treated as a commodity that could be replaced if needed, thrown out on a whim, and neglected without a care. Living and breathing creatures, humans, were herded like cattle in and out of the fields and boarded in similar conditions, if not poorer, than the livestock. Slaves had no rights to express their feelings (for their conditions or each other), or even be alive. Slaves faced the total shattering of their culture (for those brought from Africa to the Americas) as well as their families. Slaves finding themselves the victim of the slave raids to the West African Coast were packed onto ships as human cargo. As seen in the writings of countless authors such as John Barbot and James Barbot, Jr., slaves faced unbearable living conditions in disease infested ships and often starved to death or died during their transatlantic voyage. Slaves were surrounded by the unfamiliar skin of the white man, as well as a dialect unknown to their ears. Unable to communicate, he suffered from not only the reality of his situation, but also the uncertainty of the future. Unable to cope, many slaves committed suicide in hopes of returning to their home, at least in spirit. Once, and if, they finally made it to the Americas, they were sold at auction and forever separated from any kin they may have had. As life continued, many slaves did adapt to the language, but f ew were ever able to fully embrace the culture a culture that seemed to thrive on their demise and suffering. Once a slave acculturated himself to his new home, he found himself unable to re-establish his family ties. Even if a slave was lucky enough to find a significant other, often times they were separated by sale, as can be seen in the account of Laura Spicer and her lost love. Moreover, couples often found their children sold off to other masters never to be seen or heard from again, at ages as young as eight years old. Therefore, a slaves life was full of perpetual uncertainty, and fear of abandonment and neglect. Their bonds of love were never enough to out-weigh the voice of cold, hard moneyand many slaves found themselves miles away from their loved ones. In addition, masters went to great lengths to keep their property stupid and submissive, and did so in the name of humanity slaves were just like animals, too dumb to understand what was good for them. Slaves found themselves in a situation where their only provider, although I use that term liberally, was also their greatest fear. Unable to escape their bonds, slaves had little choice but to submit to their masters orders, or face corporal punishment, torture, or death at his hands. Often times slaves were subjected not only to the abusiveness of their back breaking labor, but abuses both physical and sexual by their Christian

Free Essays on College Pressures

The essay, â€Å"College Pressures† by William Zinsser explains the many different types of pressures that college students from all across America face today. As a college student myself, I found that I was able to relate to the essay. When Zinsser wrote the essay in 1979 he was primarily focusing on the students at Yale University and other private colleges with â€Å"high academic standards and highly motivated students.† However, whether it was his intent or not, almost any college student; whether they attend a small community college or a private institution can relate to this essay. Zinsser shows his understanding of the students in many different ways. He writes about their need to succeed, the four varieties of pressures he feels they need to deal with. As master of Bradford College, he tries to steer the students in the opposite direction society is pushing them in. In a round about way, he tells them, even if they don’t believe it, â€Å"Don’t focus every aspect of your life right now, on your future, you have choices!† Zinsser seems to have a sarcastic tone throughout majority of the essay, which I think makes it easier to read and relate to. One of the first points Zinsser brings to the readers attention is Americas view and expectations of college students. This country is known for many of its rights, however, failure is not one of them. Zinsser believes that society is pushing kids too hard to achieve success; and the result is forcing young to grow up too quickly. America and society as a whole puts extensive amounts of pressure on students today. The four kinds of pressure Zinsser notes in the essay are; economic pressure, parental pressure, peer pressure and self induced pressure. As a college student myself I can relate indefinitely to what he is trying to get his readers to understand and I agree 100%. All four types of pressure Zinsser writes about eventually intertwine and become heavy boulders on ... Free Essays on College Pressures Free Essays on College Pressures The essay, â€Å"College Pressures† by William Zinsser explains the many different types of pressures that college students from all across America face today. As a college student myself, I found that I was able to relate to the essay. When Zinsser wrote the essay in 1979 he was primarily focusing on the students at Yale University and other private colleges with â€Å"high academic standards and highly motivated students.† However, whether it was his intent or not, almost any college student; whether they attend a small community college or a private institution can relate to this essay. Zinsser shows his understanding of the students in many different ways. He writes about their need to succeed, the four varieties of pressures he feels they need to deal with. As master of Bradford College, he tries to steer the students in the opposite direction society is pushing them in. In a round about way, he tells them, even if they don’t believe it, â€Å"Don’t focus every aspect of your life right now, on your future, you have choices!† Zinsser seems to have a sarcastic tone throughout majority of the essay, which I think makes it easier to read and relate to. One of the first points Zinsser brings to the readers attention is Americas view and expectations of college students. This country is known for many of its rights, however, failure is not one of them. Zinsser believes that society is pushing kids too hard to achieve success; and the result is forcing young to grow up too quickly. America and society as a whole puts extensive amounts of pressure on students today. The four kinds of pressure Zinsser notes in the essay are; economic pressure, parental pressure, peer pressure and self induced pressure. As a college student myself I can relate indefinitely to what he is trying to get his readers to understand and I agree 100%. All four types of pressure Zinsser writes about eventually intertwine and become heavy boulders on ... Free Essays on College Pressures â€Å"College pressures† By William Zinsser â€Å"College Pressures† by William Zinsser is a prefect example of what college students go through everyday. Zinsser categorized the pressures of college into four different classes and gave examples of each. He named them as to be economic pressures, parental pressures, peer pressures, and self-induced pressures; but those are just a glimpse of the topics that plague college students of today. I myself will be discussing the pressures of students in three classes, which are: Junior college students, university students, and private college students. They will be discussed on the points of: major pressure, professor pressure, new environment pressure, first-day pressure, and job pressure. The atmosphere is sort of different when it comes to junior college pressures. The pressure to chose a major is not as technical unless one is thinking of transferring to a university or private college, because at a junior college one can take two years of general classes receive an AA degree and be just as successful as the next man. The pressure on students from professors is not as bad since they are more in touch with their students because of smaller classes and reasonable office hours. New environment pressure is hard for everyone at first but is easily adjusted to because of a junior colleges smaller campus and friendly faces. The pressures of the first day always are scattering the mind of a freshmen student. â€Å" Can I do it by myself, are my professors hard, will I be able to pass my classes, will I be able to find my classes, will anyone help me†, are just some of the many questions one may ask himself on the first day. The pressure of keeping a job is not as ba d for a student in junior college; because one can balance out his work and school schedule to coincide equally. The atmosphere is way more intense when it comes to universities. There is more pressure put on the student to do...

International Marketing Essay Example | Topics and Well Written Essays - 1500 words - 3

International Marketing - Essay Example Traditional thoughts and practices of limiting one company with in the geographical boundaries of the country are obsolete today. Companies, across the globe, are striving to get into newer markets in the form of newer countries. International marketing has become the very integral part of almost all companies of the present world. According to Doole and Lowe, â€Å"At its simplest level, international marketing involves the firm in making one or more marketing mix decisions across national boundaries. At its most complex level, it involves the firm in establishing manufacturing facilities overseas and coordinating marketing strategies across the globe†(Doole & Lowe, 2001). Established in 2000, Initial Fashions has been known for its unique and creative yet qualitative designs. The philosophy of the company states that fashion should ideally reflect latest art and design and is much more than just a consumption phenomena. The leading fashion house of Hong Kong also believes that the fashion should reflect one’s inner and the outer qualities. The company is credited for its rigorous support in the relevant happenings and events of art and culture. Initial Cafà © provides whole lot of beverages and food items and includes Espresso, Siphon Coffee, special drinks, cake, cookies, salad and sandwiches. Ice Moca, the food item which has cocoa flavour upon the taste of coffee is made by mixing coffee beans bought from various countries. Dark chocolate is then added to establish the cocoa flavour. The cafà © division of the Initial Fashion which uses antique furniture to slow down the pace of the citizen’s life at the ever-busy shopping centers and streets of Hong Kong has all the attributes to venture in the market of United Kingdom and be successful. As the cafà © belongs to the service industry, the most important condition to be successful is to maintain the quality. And with the reputation that Initial Cafà © has, there is little doubt about it’s

Political Science Essay Example | Topics and Well Written Essays - 500 words - 8

Political Science - Essay Example Even though Nick knew that whatever he did was wrong and kept on due to the belief that he could convince any debating side towards his own views, one day he met his match. William H. Macy, the Vermont senator wanted to place poison labels especially on cigarette packs in order to discourage people from the smoking (Longworth). Nick saw this as a motive to ruin his career and went ahead to conduct a public relation campaign with Rob Lowe, a Hollywood agent, so as to include cigarette smoking in the movies. Nick still on continuing with his quest, received a number of death threats regarding his work of encouraging people to smoke. Eventually, Nick met with an alluring reporter that worked for Washington Newspaper called Katie Holmes. This reporter ran a damaging profile on Nick putting him in a tight position to argue on supporting people to smoke after she produced one of his nude pictures (Ebert). The film reaches a climax when Nick is forced to look back at his job and assess the negative influence his job may have on his son. Eventually, it turns out that Nick eventually gets to his senses and accepts the reality of smoking and the need to discourage it (Ebert). Filibusters are often obstructive tactics employed by senators in order to delay a given bill. In regard to smoking, there have been a lot of filibusters played by many policy makers. Filibusters should be eliminated as they discourage crucial laws that affect the heath of its citizens, for instance cigarette smoking, from being discouraged. Nick had been employed by a Big Tobacco company to act as their spokesman and encourage more people to join smoking. Even though the government knew the repercussion smoking had on its citizens in the movie, still measures to curb smoking could not be implemented immediately due to filibusters. The senator at one point tried to pass a law to ensure that cigarettes had a poisonous ban put on them, but did

Moral Problem Research Paper Example | Topics and Well Written Essays - 2000 words

Moral Problem - Research Paper Example Gaddafi has no official government function, and prefers to be called â€Å"Brotherly Leader and Guide of the Revolution† (Elgood, 2011). Furthermore, he has unflinchingly ordered the violent repression of dissident citizens, prompting the UN General Assembly to pass a resolution allowing member states to intervene on behalf of the Libyan people. In this paper I shall examine the decision Gaddafi has so far pursued but may still revise, regarding his response to his people’s clamor for democracy. I shall examine the moral dilemma, and arrive at a moral solution pursuant to the decision procedures of Utilitarianism and Kantianism. However, I shall first relate the background of Gaddafi, the type of leader he is, his decisions and actions, so that these may be made the basis for discerning his motivations. Factual details In 1969, 27-year-old Col. Muammar Gaddafi successfully led a bloodless coup against King Idris to take over the reins of power in oil-rich Libya. Gaddaf i was born to nomadic parents, the son of a Bedouin herdsman, and dropped out of college to join the army; despite his humble beginnings, he had been able to maintain absolute dictatorship over his country for the past four decades (Al Jazeera, 2011; Elgood of Reuters, 2011). Gaddafi’s rule was and continues to be oppressive towards the Libyan people, having imprisoned countless dissidents and putting thousands to death, as reported by Human Rights Watch. During the 1970s, he publicly hung student demonstrators who marched and demonstrated for the restoration of their human rights. In another incident, Gaddafi ordered the execution of 1,200 unarmed prisoners in the span of three hours (Al Jazeera, 2011). The media remains under tight government control, as does all large businesses. Gaddafi has been openly anti-US and anti-Israel, and he is strongly associated with terrorism due to his role in the 1988 bombing of the Pan Am flight over Lockerbie, Scotland which was perpetrate d by Libyan intelligence agents. However, in 2003, in a seeming act of reconciliation he accepted responsibility for this act and indemnified the families of those who died, although his admission remained guarded. He also relinquished his complete inventory of weapons of mass destruction (MacLeod & Radwan of Time, 2005). Due to these acts, Libya assumed normalized relations with the West, allowing the oil industry to flourish and the economy to grow. In 2009, however, Gaddafi spoke at the UN General Assembly, at which he tore a copy of the UN Charter in protest, accused the United Nations and the US of being a terrorist group like the Al Qaeda, and demanded $7.7 trillion in compensation from past colonial rulers. Nor was his contempt directed solely at the US. In a two-day visit to Italy in 2010 to strengthen Rome-Italy ties, Gaddafi unabashedly invited thousands of women to convert to Islam as he was accompanied by a dozen female bodyguards (Al Jazeera, 2011; Elgood, 2011). In the recent spate of civil unrest that has spread throughout the Arab states, Gaddafi showed he has not changed his militaristic dictatorship. Human rights protesters have been gunned down in the hundreds within the span of a few days, and even those attending funerals were not spared the carnage (Elgood, 2011). Libya has never held free elections under Gaddafi, and his sentiments on the matter became clear during a Time interview in 2005: â€Å"Elections? What for? We have surpassed that stage you are presently in. All the people are in

Implementing child rights

Implementing child rights Introduction One basic human rights principle laid down in the Universal Declaration of Human Rights, 1948 is that all human beings are born free and equal in dignity and rights (Article 1 UDHR). However, specifically vulnerable groups such as women, indigenous people, and children have been assigned special protection by the UN legal framework (Henry J. Steiner P. Alston, 2000). The UN Convention for the Rights of the Child, 1989 remind us that children, whilst retaining their entitlement to the full range of human rights, are often marginalised or excluded, and represent a special case required additional safeguards (Defence for Children International (ed), 1995). Therefore, the Committee on the Rights of the Child have also adopted about twelve General Comments (in addition to two Optional Protocols) guiding States on specific issues such as HIV/AIDS, the aims of education etc (Committee on the Rights of Child-General Comments). The Committee in 2005 adopted â€Å"General Comment 7 (GC7) on Implementing Child Rights in Early Childhood† (The Committee General Comment 7 of 2005). GC7 recognises that in implementing the UNCROC States parties have often overlooked young children as rights holders (GC7 para.3). The Comment seeks to redress this by clarifying State obligations for UNCROC implementation with respect to all children â€Å"below the age of 8† (GC7 para.4). The UNCROC regards young children as active meaning makers with â€Å"evolving capacities† (Art. 5) requiring age-appropriate guidance and support whom, both as individuals and as a constituency, have a voice which must be given due consideration. Parents/Caregivers and States are reminded to balance control and guidance with respect to evolving capacities of the young child, and of the obligation to facilitate genuine participation of young children in the process affecting their development (The Committee General Comment 7, 2005). In this 21st century, when we Australians are busy counting our economic and political success both at national and international level, still is much needed to be done to improve the status of children in Australia for the coming future (Nyland, 1999). In this essay, I have tried to discuss the role of early childhood settings in enacting and promoting the children rights such as participation, protection and provision and in making these rights available to Australian children. Childrens Rights: Setting Standards Legal conceptions of children The adoption of the Convention on the Rights of the Child marked a fundamental shift away from past conceptions of children and childhood to a new one. Until then, the law had seen a child as property the property of the father to be dealt with and disposed of as he saw fit (Hart et al, 1991). However a conceptual shift took place during the 19th century, based on the perception of children as vulnerable and so in need of protection from poverty, the voices of industrialization, immigration and urban living. In addition, to being considered property, the child began to be considered as a resource to society (Hart et al, 1991). The human rights movement of the 20th century, previously focused for adult rights was extended to children (Hart et al, 1991) though children were still seen as vulnerable and in need of protection but this status was subsumed in a broader understanding of children as full human beings with all the human rights and fundamental freedoms that all human beings have. Their need for protection was transformed into a right to protection. They had a right to be free from exploitation, abuse and neglect of any kind. Seeing children as rights-holders (The Committee GC7, 2005) had implications beyond child protection, however. It meant that, like all human beings, they were also entitled to freedom of speech, freedom of religion and belief, freedom of association, the right to education and to the highest attainable standard of health, and so on. The UN Convention on the Rights of the Child, 1989 The UN Convention on the Rights of the Child is the universal statement of this new conception of rights-holders. The United Nations General Assembly on Nov 20, 1989 adopted the UN Convention on the Rights of the Child (UNCROC). In 1990 Australia ratified the UNCROC and to date 191 countries have ratified the Convention, while US and Somalia have become signatories (Berenice Nyland, 1999). The Convention is considered to the most comprehensive and complete international legal document on childrens rights concerning their protection development and welfare (P. Alston, 1991). The Convention deals with the child-specific needs and rights. It requires that states act in the best interests of the child. The Conventions objective is to protect children from discrimination, neglect and abuse and serves as both a rallying point and a useful tool for civil society and individual people, working to protect and promote childrens rights (Berenice Nyland, 1999). In many ways, it is an innovative instrument. Categories of rights under the UNCROC Greenwood suggests that the rights set out in the Convention fall into three categories (Module 1. Topic 2: The Convention on the Rights of the Child); Provision: this category includes the right to posses, receive or have access to the right to life (Art. 6), a name and a nationality (Art. 7), health care (Art. 24), education (Art. 28), adequate rest and play (Art. 31), special care for disabled children (Art. 23), an adequate standard of living (Art. 27), care after abuse (Art. 39), and respect for the cultures from which the children come (Art. 30). Protection: it grouped the right to be shielded from harmful acts and practices such as; separation from parents (Art. 9), sexual exploitation (Art. 34), and physical abuse and neglect (Art. 19). Participation: this class encompasses the right to be heard in discussion affecting the childs life so that the child has freedom of expression (Art. 13), freedom of thought and religion (Art. 14), and the right to be heard in court (Art. 12). The UNCROC, 1989 formally-agreed standards cover: provision rights (to necessary, not luxury, goods services and resources); protection rights (from neglect, abuse, exploitation and discrimination); and participation rights, when children are respected as active members of their family, community and society, as contributors from their first years (Alderson, P. 2000). The effect of the Convention for Children in Australia Since the ratification of the UNCROC in 1999 by Australia till 2010, we can say that the Convention has realised neither the brightest hopes of its supporters nor the most dire fears of its opponents (Butler, B., 1993). The ratification of an international instrument by Australia, such as the Convention, does not ipso facto make that instrument part of domestic law hence the UNCROC is not part of Australian domestic law. Therefore, it has not revolutionised public policy making for children, nevertheless it has led to many very significant initiatives and reforms (Module 1. Is the Convention enforceable, p 29). It has provided a new basis for examining the situation and treatment of children, bringing a rights focus to what previously were seen as purely welfare issues. The effect of this is that the Convention has been declared an international instrument relating to human rights and freedoms for the purpose of Human Rights and Equal Opportunity Commission Act 1986 (Cth) (Module 1. Is the Convention enforceable, p 29). Consequently, the Convention has provided the legal and conceptual basis for the establishment of childrens commissioners in most Australian jurisdictions. Childrens rights and early childhood settings Early childhood, the period from birth to 6-8 years, is a significant and unique time in the life of every individual. Every child needs and has the right to positive experiences in early childhood. As with every other phase in life, positive supports and adequate resources are necessary for meaningful development. In their everyday lives, children largely stay within and relate to three settings their home, schools and recreational institutions (Rasmusen, K. 2004). These environments have created by adults therefore quality early childhood practice is built upon the unique role of the adult. The competencies, qualifications, dispositions and experience of adults, in addition to their capacity to reflect upon their role, are essential in supporting and ensuring quality experiences for each child (Wyatt, S., 2004). This demanding and central role in the life of the young child needs to be appropriately resourced, supported, and valued. Therefore, quality early childhood care and education must value and support the role of parents (Thorpe, R., Thomson, J., 2003). Open, honest and respectful partnership with parents is essential in promoting the best interests of the child. Mutual partnership contributes to establishing harmony and continuity between the diverse environments the child experienc es in the early years. The development of connections and interactions between the early childhood setting, parents, the extended family and the wider community also adds to the enrichment of early childhood experiences by reflecting the environment in which the child lives and grows (Thorpe, R., Thomson, J., 2003). Basing early childhood services on childrens rights Childrens rights are relevant to early childhood education and care. The Convention on the Rights of the Child is directed towards the well-being of every child and the full development of every child to her or his full potential (Butler, B., 1993). Early childhood education and care shares that direction and commitment. The Convention states that the first objective of education is â€Å"the development of the childs personality, talents and mental and physical abilities to their fullest potential† (Art. 29 (1)). Early childhood education and care contributes to the full personal development of children. Early childhood institutions contribute to implementation of the requirements of the Convention in relation to the childs right to the highest attainable standard of health care (Art. 24), the right to education (Art. 28), the right to protection from exploitation, abuse and neglect (Art. 19), the right to play and recreational activities â€Å"appropriate to the age of the child† and to participate in cultural life (Art. 31). Institutions also have particular regard for the specific needs and rights of particular groups of children specified in the Convention: refugee and asylum seeker children (Art. 22), children with disability (Art. 24), children of ethnic and religious minorities and indigenous children (Art. 30), children placed in alternative care (Art. 20), children who are the victims of abuse and neglect (Art. 39) (Alderson, P., 2000). In Australia, the importance of childrens rights to early childhood care and education is recognised in many of the key documents that express the values and goals of the sector. The first commitment to children in its Code of Ethics is to act in the best interests of the child and the second commitment is a more general one, to â€Å"respect the rights of children as enshrined in the UNCROC and commit to advocating for these rights† (ECA Code of Ethics, 1990). Its policy positions are based on principles that â€Å"reflect adherence and commitment to† the Convention on the Rights of the Child (ECA position statement consulting with young children). They are expressed in rights terms: â€Å"All children have the right to access and participate in early childhood programs and services† (Inclusion of Children). Childrens rights issues for early childhood institutions Early childhood education and care institutions address childrens immediate needs and well-being, that is, childrens lives as children (Rasmusen, K. 2004). They provide children with opportunities for learning, play and socialisation. They provide the foundations for literacy, numeracy, later learning, and future life opportunities. They also focus for addressing the rights of disadvantage and particular groups of children such as indigenous children, refugee and immigrant children, children with disabilities, children from poor families. The way childrens rights are interpreted and acted upon in early childhood institutions it has some cultural/social implications (Berenice Nyland, 1999). For example, when children interact in the complex cultural environment of a day care setting that can provides us with insights into how they construct their views of the world and culture. Therefore as adults we should observe children very closely in order to understand what they are trying to tell us about their surroundings. Mostly caregivers based children developmental activities on observed activities of children focusing mainly on the individual child and areas of development and divide children into developmental areas which is a problem because one area or dimension can not exist by itself. Therefore the practitioners should be motivated to plan for the different areas of development and therefore move away from play-based curriculum since tasks are developed to aid a particular area of development and overlook or neglect the ideal of whole child (Nyland, 1999). Another constraint of current mode of recording children behavioural observation is that we record observed behaviour meaning something already has been done by a child (Nyland, 1999) so we look at the child of yesterday and not at the child potential (Vygotsky) in upcoming future. In a child care centre caregivers can create an environment focusing to strengthen child development in a more holistic way which will give to the caregivers a better understanding of the physical and social settings of children from where they belong. In the child care centre the caregivers can also identify culturally regulated customs and can use it as a culturally niches (Nyland, 1999). The adult/caregivers role in these developmental niches/physical and social settings is one of scaffolding the child experiences (Valsiner, 1987) through an environment that is carefully considered in relation to three metaphorical zones (Cole, 1996). These metaphorical zones make up the developmental niche and consisted of three zones i.e. zone of free movement (ZFM), the zone of promoted activity (ZPA) and the zone of proximal development (ZPD) (Valsiner, 1987). ZFM is understood as the childs access to the environment, objects, events and ways of acting (Cole, 1986). ZPA covers a childs particular action, or response which encouraged him/her to give by a more competent member of the culture or from the same physical environment (Nyland, 1999). But when the ZPA is matched to the childs present development state which guides further development then it is referred as ZPD (Cole, 1996). In early childhood setting the caregivers role is more important and dynamic since s/he can use the metaphorical zones as guide for designing and providing space, objects and interactions. The caregiver own role can be deliberately designed for enhancing the perceived developmental potential in an articulated cultured environment. The cultural activity where development is most likely to occur in a cultured environment is known as leading activity and such activities can be accomplished through manipulation for infants and spontaneous play for children (Bodrova Leong, 1996). For better understanding of the role of early childhood settings for the protection of children rights, Berenice Nyland (1999) in article â€Å"The United Nations Convention on the Rights of the Child: Using a concept of rights as a basis for practice†, quoted a 20 minutes observation period took place in a day care centre between two babies of under two years, with no spoken language. Kallina started the play by putting a nappy on a doll. She was thoroughly engaged and her physical moments were free. She had mental picture of folded nappy because she tried many times to match reality with mental event representation. Another baby Claudia joined the play, took a doll and wrapped a nappy around it. Claudia just matched the nappy and made no effort to fold it or put it on the bottom half of the doll. Similarly Claudia found another undressed doll in the same place and take out a nappy from a nearby clean clothes basket and draped it around it. The observer was asked to put the n appies on to prevent them falling off. Claudia then took a plastic play gym from an immobile baby and placed it to the book corner. She then placed the dolls underneath the play gym, so they ‘could play. The role of caregiver in this exercise is the childrens actions affirmed the suitability of the available environment created by the caregiver relating to the freedom of moments (ZFM) for the babies and they had access to inside and outside. They were having free choice of space and toys, and also access to domestic equipments such as clean clothes basket. The children initiated ZPA by themselves and there was no need of adult intervention or guidance. Scaffolding and learning in the ZPD occurred between children, as they were engaged in intentional goal oriented behaviour hence established their ZPA. Such zones should be dynamic and constantly being renegotiated. This exercise shows that observing children in such expressive way and to see their development within the context of relationships existing in the physical environment of the setting, cultural artifacts, and social interactions gives a comprehensive way of individual child. At one hand it demonstrates a childs competence for understanding changes and on the other hand the early childhood setting as a learning environment. Such an approach moves away from the straitjacket of areas of development and affords the child a voice while giving the caregiver a more meaningful role within the relationship (Berenice Nyland, 1999). Early childhood workers as leaders in childrens rights advocacy We then are needed as advocates for childrens well-being and not only advocates but leaders in advocacy. The basis of our advocacy should be childrens rights, as recognised in the UN Convention on the Rights of the Child. Why we? Because as early childhood professionals, we have responsibilities and opportunities that require we to be advocates. Our responsibilities come from our role as workers with children. We know them and their needs well (Nyland, 1999). We know what promotes their development and their happiness. We know the importance of services for them being of the highest quality. We also know the consequences of children not receiving the services and support they need for their full development and the consequences of poor quality services. Advocacy cannot be left to others when we have so much expertise and experience (Module 4. Topic 1: Advocacy for children. p 5). Conclusion The legal obligations of the Australian government under the UN Convention on the Rights of the Child are still to be realised, almost 20 years after its ratification. We can move beyond frustration, anxiety and despair and embrace the possibility of hope or the audacity of hope, as Barack Obama (Quote for the Hope) calls it if we are willing to do so. Children have few choices. We adults and professionals have many. The challenge is to choose to place ourselves at their service and in the service of their rights. Children have the ability to construct their own images and now its upto the society how seeming it. The early childhood practices, like child study, provide a strategy for listening to the very young. A belief in childrens rights and an understanding of childrens strength and competence can be used as a basis for improving the quality of childrens daily lives (Berenice Nyland, 1999). By this our early childhood institutions would provide to the children with opportunities for learning, play and socialisation. So the emerging vision is one of an actively participating and socially competent young child. This young child is ecologically situated: within family and caregiving environments; in relationship with peers; as part of a community; and as a member of society. This young child is to be considered holistically: as a being whose emotional, social physical and cognitive capacities are evolving in various social and cultural settings (The Committee GC 7). Therefore require us to reconsider young, active, participant children in the broadest possible sense, both as individuals and as a constituency.

Death of a Salesman Essay -- essays papers

Death of a Salesman In the play Death of a Salesman by Arthur Miller, Willy is both sympathized with and looked down upon throughout the story. Willy is a very complex character with problems and faults that gain both sympathy and also turn the reader off to him. Willy Loman is both the protagonist and the antagonist, gaining sympathy from the reader only to lose it moments later. The play begins with Willy as the antagonist, fighting with his wife Linda and a generally mean person. He insults his sons and scolds Linda for buying the wrong cheese. Willy shows his biggest personality flaws early on in the story; contradicting his own thoughts, being verbally abusive, and showing his over developed sense of pride. Willy loses the readers sympathy again in a flashback early on in the play when he goes off on a rant about the money he owes for things, almost blaming Linda for their hardship. During a conversation with Happy, Willy again loses his temper and yells at Happy for trying to be nice and saying "Pop, I told you I'm gonna retire you for life"(I,1300). As that is going on the next door neighbor, Charley, comes over because of the noise and strikes up a conversation with Willy. The two are playing cards and shooting the breeze when Willy once again starts with the insults, calling Charley ignorant, and telling him hes disgusting, as if to boost his own con fidence or make himself seem smarter or better than Charley. Soon after his arguement with Charley, Willy is in a flashback ordering Happy and Biif to steal lumber from a nearby building project, teaching his boys to steal to impress his brother Ben. Willy and Biff then get into an arguement over Biff's lack of effort in getting a job and keeping it, and about ... ...is off in his own little world almost ignoring Biff. The reader sympathizes with Willy due to his clouded mind, yet is turned away by his arrogance and showmanship attitude. In the begining of the story Willy is scolding his wife and bad mouthing his sons one moment, then the next hes saying how great his children are and telling his wife how much he loves her. Willy sends the audience on a roller coaster throughout the entire play, gaining sympathy and pity one minute, while the next turning the reader's sympathy and pity elsewhere. Willy Loman is both the protagonist and the antagonist, gaining sympathy from the reader only to lose it moments later. He is his own worst enemy, causing his life to be much harder than it needs to be. If only Willy had realized his faults and accepted life as it is, perhaps the reader would have been his sympathizer the entire play.

Trx Case

1. How does the strategic repositioning of the company and the use of the IPO as an exit for minority shareholders affect the attractiveness of the IPO? The strategic repositioning of the company was to gradually shift away and exist from customer care which TRX generated more than 50% in 2000, and Davis’s long term strategy was to focus on the higher margin sectors, such as data transaction and integrations. By shifting away from customer care, of course would reduce operational cost and increase bottom line for the company but I think it would affect the attractiveness of the IPO in negative way.If I was an investor I would be in agreement with TRX only if they were reducing the customer care due to the high operating cost, but I mean reducing, not totally exist. In the service based company, interacting with end consumers is critical even know it has lower margin but the company should be able to profit from it, if it continues to operate in the future which I believe would create higher customer satisfaction and strong long term relationship with end-consumers.Davis decided to use the strategy to make the financial data looking good or positioning the company for the IPO which he knows that he was going to do in the future because the company need capital to support the firm’s growth, however to exist a sector was not good way to start with the risk that they might have lower customer satisfaction, as the company went IPO, any negative issues would tank the company’s shares if they were not in good relation with end consumers.Davis had chance to improve the attractiveness of the IPO, he had two options; first one was go ahead with the IPO at the lower price of $9 per share, then he had to deal with Hogg Robinson whose intention was to exit TRX, and Sabre whose was in its best interest to sever the relationship with TRX. Their lack of agreement would eventually block the IPO, in order to prove the attractiveness of the IPO; Davis has to convince those two companies to agree upon the price so the proper managerial plan could carry forward.Second, David would just wait for some time to grow the company and complete the exit from the customer care business before the next IPO attempt while increase higher margin businesses. The use of the IPO as an exit for minority shareholders would eventually help the company better alignment of his stakeholders while offering liquidity for those minority shareholders an â€Å"easy out† which would increase the attractiveness of the IPO for small investors. 1. Estimate a preliminary file range for TRX’s shares.CSFB had prepared a valuation of the file price range by comparing TRX to comparable publicly traded companies, there are really no direct competitors as a result there were not going to be perfect comparable company. The methods CSFB and TRX’s management believed are best for them are both enterprise and price earnings multiples which would bring the com pany credit for its strong cash flow and an improving earnings outlook. In the EXHIBIT 9, by using enterprise multiple methods which a measure of a company's value, often used as an alternative to straightforward market capitalization.Enterprise value is calculated as market cap plus debt, minority interest and preferred shares minus total cash and cash equivalents. Base on the result estimated from 2005-2006, the enterprise for online travel sector were around 15, for Payment Processors were about 10 and for distribution is around 7. The calculation is based on CSFB’s financial projections on its own research and forecasts of TRX’s business, and is more conservative if compared to TRX’s management’s forecasting.The second method is price earnings, it is a valuation of a company’s current share price compared to its per share earnings and we calculated it by taking market value per share divided it by earnings per share, the ratio for online travel is around 25, for payment processors is about 20, for distribution is around 17, a high price earning suggests that investors are expecting higher earnings growth in the future compared to companies with a lower price earnings. For those two methods, a 15% discount was applied to this equity value based on the banker’s belief that a newly public firm would not trade at the same value as a seasoned firm.The proposed IPO filing ranged based on analysis should be set at least $11 to $13 per share. However, due to the investor demand during the time of TRX’s road show were really low, and the final IPO offer price will have to be $9 in order to attract more or enough investors. Technology changes so fast and brutal to make it more serious, Davis’s long term goal as discussed in question 4 might not be as good as it really is due the uncertainties of being in such shifting and fast moving tech world, it is very likely that TRX might or ight not fail, we don’t know but if the company did not keep up with the skilled workforce and future prospects, it would put the company in a very difficult position even after IPO, if they are lucky, there could be some big investor jump in and take over the company but the chance are too low because TRX’s is still too young in terms of operation, and even know that the revenue have been steadily increasing, the net income were still negative and there were too many I considered red flags in the financial statement, for example, goodwill on TRX’s balance sheet have increased dramatically from 2003-2004, and current portion of long term debt almost 7 times as higher than previous year, all those factors be main contributor to the future’s success of the company. One last thing is that while the TRX is going public, two of its main investors want to exit; if I am an investor, I wouldn’t want to invest in the company. 2.Given the situation Davis faced in September 2005, what wou ld you recommend that he do with respect to the offering? The situation Davis faced in September 2005 was tough, but the situation could be solved if he could convince Hogg Robinson, and Sabre which I recommend him to signify all the positive aspects of TRX such that they have strong relationship between majority shareholder in BCD technology, and present the fact that due to the 911 incident, the travel industry had experienced some serious headwinds and should be recover as matter of time soon in the future and company will started to make profit if IPO is successfully launched, and proper managerial plan is implemented.Besides, some strength such that its ability to automate and engineer travel and travel related processes, if Hogg Robinson and Sabre agreed to the $9 price, then Davis should proceed with the IPO which will help TRX to raise capital to support growth and accelerate the transition away from customer care, when the company started to grow so their stock price should start to increase too therefore making up the difference of the company’s expectation. I would recommend him do whatever he could at his best to proceed the IPO and I think it is the best option for the company. Otherwise chose the second option which is to withdraw the IPO and allow TRX time to grow and complete the exit from the customer care businesses, and some of TRX’s operational uncertainty would also be reduced because the time might not be right as Delta and Northwest Airlines declared bankruptcy and the overall difficulties and risk as being a technology company.The first dimension be a proper fit, TRX cannot define all major problems and issues that is facing probing and analytical investment, and its products and services were only few, the information about the future perspective of the company given by the Davis were too simple, the only thing that he mentioned again and again is that the company need capital to expand and support growth. The company has the working capital deficit almost four times higher by comparing from 2001-2005 and two investment companies for TRX have declared they want to exit even when the TRX want go to public which would indicate that there are something wrong within the company or perhaps they just aren’t in agreement about that fact that the company is going public so TRX is not proper fit in the first dimension. Second, sharing of ownership seems to be a bit problem, as Davis have indicated that going public offered liquidity for minority shareholders, and lead to a better alignment of his stakeholders.As what it sounds like that Davis did not really want to give up majority of its shares to other companies therefore is not fit on this dimension too. Third dimension is investors appeal, Davis and TRX management met with investment bank which they selected Credit Suisse First Boston because CSFB had strong analyst coverage in the online travel and data transaction sector which Davis believed wou ld help investors understand TRX’s business model therefore they do fit in this dimension in terms of helping investors to understand their business model. Fourth one is the amount raised in capital for the company, Davis decided to officially start the IPO process with a proposed IPO of 6. 8 million shares of common stock, 3. 4 million primary share, and 3. 4 million secondary shares.Even though they have all the shares planed out, Davis did not give any clear idea of how much the company really need to expand and how much ownership he is willing to abandon, as a result I will state that TRX did not meeting this dimension. Fifth, the purpose and timing of the IPO, Davis has been thinking about going public since 2000, but due to the dot-come bubble burst, he was forced to abandon its IPO. After carefully exam the technology IPO market performance, Davis finally decided to file an S-1 registration statement with the U. S. SEC. on May 9, 2005. In term of purpose and timing, Da vis has been very carefully, I think that he knows that he needs this success in IPO in order to support the company.

Almost 20

Almost 20 Almost Twenty-four years ago on October 27th, the stork brought a little boy to Pablo and Montse Chacon named Juan Carlos. Juan was born on a Thursday morning in Santa Monica, California. He was a youngster with brown hair and a pair of brown eyeballs. He lived in an apartment there in Santa Monica with his parents and one older brother named Pablo Javier. Juan spent the first three years of his life there, before moving to the San Fernando Valley. His new home at 8851 Valjean Avenue, North Hills, California was where he spent the next twenty-one years. It was a three bedroom, blue white house with an attached garage.Growing up in the neighborhood in the late nineteen -seventies and early eighties, Juan made many friends fairly quickly. First, there were the Carr brothers, Bobby and David who lived across the street and eight houses down the block.English: A hand affected by rheumatoid arthritisThen there was Jim, Scott and Bob Hicks who lived two houses to the right. Next, there wa s Nancy Loo, who lived directly across the street from his house and Shanna Hogan, a little red headed girl who lived next to Nancy. Juan used to go out and wreak havoc on the neighborhood with the kids on his block, eventually breaking for about ten minutes, enough time to rush home to grab a quick bite to eat at lunch time. Then it was back out to the street to play cops and robbers until the porch light came on at dusk. The light was an unspoken signal from his mom that it was time to go home.Juan went to public school with half of the neighborhood kids until he finished the sixth grade. In nineteen-eighty-seven, Juan's parents decided to put him into a private school. During his seventh...

Spanish Verbs for Trying

Spanish Verbs for Trying To try is one of those English verbs that will steer you down the wrong path if you try to translate it with just one Spanish verb. This lesson looks at the most common ways of expressing the idea of trying and related phrases such as to try to or to try out. Fast Facts Tratar de and intentar are are the most common ways of translating try when it means to attempt something.Esforzarse and phrases using esfuerzo can also be used to emphasize the effort given.When try refers to a testing or testing out, the preferred translation is usually probar. Trying as Attempting When try means attempt, it can usually be translated as tratar de or intentar followed by an infinitive. The two are roughly synonymous, although tratar de is more common. Note that intentar is a false friend to the English verb to intend - intentar involves an actual attempt, not a mere intent as the English verb does. Tratamos de hacer lo mejor para conseguir el objetivo. (We are trying to do what is best in order to reach the objective.)Trataron de resucitar al cantante durante ms de una hora en el hospital. (They tried to resuscitate the singer for more than an hour in the hospital.)Trataremos de resolver sus problemas. (We will try to resolve your problems.)Vamos a tratar de ganar el campeonato. (We are going to try to win the championship.)Intentamos resolver las dudas que puedan surgir. (We are trying to resolve the doubts that may arise.)Intentar es major que esperar. (Trying is better than waiting.)Me intentaron hacer un fraude. (They tried to commit a fraud against me.)Intento comprender la verdad. (I am trying to understand the truth.) Trying as Testing When to try means to test, as the phrase to try out often does, you can often use the verb probar: Probamos algo nuevo. (Were trying something new.)Los estudiantes probaron comidas de los diferentes paà ­ses. (The students tried meals of different countries.)Los terroristas probaban gases venenosos experimentando con perros. (The terrorists tried out poisonous gases by experimenting with dogs.)Me probà © la camisa y vi que estaba hecha exactamente a mi medida. (I tried on the shirt and saw that it was made exactly to my size.)Desde que probà © su consejo, mi vida cambià ³ para siempre. (Ever since I tried her advice, my life has been forever changed.)Pues, pruà ©balo y vers. (Here, try it out and youll see.)Voy a probar un nuevo truco de magia. (Im going to try a new magic trick.)Probà © suerte de nuevo y abrà ­ mi propio negocio. (I tried my luck again and opened my own business.) Trying as an Effort To try in the sense of put forth an effort can often be translated as esforzarse or a phrase such as hacer un esfuerzo por. Although intentar and tratar de can also indicate an effort, they put less emphasis on it than do esforzarse and phrases using esfuerzo. Sà © que puedes esforzarte ms. (I know you can try harder.)Me esfuerzo con toda intensidad por ser sincero. (Im trying as hard as I can to be honest.)Pero yo me esfuerzo todo lo que puedo. (Im trying to do everything I can.)Hago un esfuerzo por  apartar de mi mente lo ocurrido y concentrarme en mi trabajo. (Im trying to get my mind off of what happened and concentrate on my work.)Volvià ³ al sillà ³n e  hizo un esfuerzo por  relajarse.  (She returned to the rocking chair and tried to relax.)Es necesario hacer un esfuerzo. (It is necessary to try.) Legal Use of 'Try' To try in the sense of to put on trial can be expressed by procesar or juzgar: El juez procesà ³ ayer a ocho personas por el robo de armas de guerra. The judge yesterday tried eight people for the theft of military weapons.Juzgaron a los activistas de Greenpeace en Espaà ±a. The Greenpeace activists were tried in Spain. 'Try' as a Noun Try as a noun can often be translated well using intento: Haz de nuevo el intento. Give it another try. ¡Al menos hicieron  su mejor intento! At least they gave it their best try!Al menos resulta un intento divertido. (At least it was a fun try.)

Research Paradigms, Knowledge and Practice Essay

Research Paradigms, Knowledge and Practice - Essay Example 5). This essay identifies and critically discusses the research paradigms to be the most relevant to the development of nursing knowledge: positivism/empiricism and phenomenology/interpretivism. Nursing has progressed as a unique discipline through the application of theories from other academic fields and the advancement of clinical research. The discipline of nursing focuses on the personal circumstances of individual patients. In essence, this suggests that research to enhance the clinical practice of nursing should focus on environmental factors and individual attributes that are not open to plain quantitative approach. Nursing has formulated research paradigms to address these challenging issues. The discipline of nursing revealed that there is a need to expand the foundation of nursing knowledge, and research is the best way to accomplish such goal. Focus of the Discipline of Nursing The discipline of nursing gradually grew from established theories, intuition, religious belief s, apprenticeship, philanthropic intentions, and traditional women’s role, as well as diverse impact of feminism, economics, politics, technology, and medicine (Shaw, 1993). Florence Nightingale, the first practitioner of nursing, described nursing as a field of study that has social relevance and structured concepts different from the field of medicine. However, M.E. Roger’s (1970 as cited in Shaw, 1993, p. 1651) more recent holistic perspective of individuals have become an important foundation in developing theory by characterizing nursing as ‘an art and a science’ and by creating a concrete starting point for testing theories. Donaldson and Crowley (1978), in their seminal work, identify a discipline as â€Å"a unique perspective, a distinct way of viewing all phenomena, which ultimately defines the limits and nature of its inquiry† (as cited in Rich, 2010, p. 26). Nursing practitioners have long tried to identify, investigate, understand, and e xplain the concepts fundamental to the discipline of nursing—nursing, environment, health, and person. Issues defining the limits for nursing research and practice involve (Shaw, 1993, p. 1651): (a) laws and principles governing life processes and well-being of humans, (b) influences of the environment on human behavior, (c) processes whereby nursing positively affects health, and (d) families and communities as a focus of nursing practice. Several researchers found out an agreement on the frequent topics and similarities fundamental to nursing research and inquiry. Development of knowledge in a discipline could progress from a number of scientific and philosophic worldviews. The focus of nursing as a discipline has developed most significantly over the recent decades. Several concepts have been determined as fundamental to the discipline of nursing. A case in point is the often mentioned tetralogy, namely, ‘person, environment, nursing, and health’ (Polifroni & Welch, 1999, p. 20). Although recognition of these concepts helps simplify the focus of nursing, there is still the importance of social relevance and apparent interrelatedness to define the discipline that makes up nursing (Keele, 2010). Unrelated concepts do not create the scientific or philosophic questions that encourage inquiry. The discipline of n

Family in Europe History Coursework Example | Topics and Well Written Essays - 1250 words

Family in Europe History - Coursework Example legends as women seemed to have enjoyed a certain degree of freedom in deciding their own futures, in owning property and in bringing honor and wealth to the family through marriage and children. This gave her stronger power within her own household as well, including the power to divorce if she so desired. Part of the woman’s value probably stemmed from the great amount of sexual promiscuity that took place during these times. Although it could never be entirely certain that the children of a son were direct blood descendents of a particular line, it was a certainty that children born of a daughter were. The confusion caused by this acceptance of sexual infidelity made for tense households as the children and mothers tended to fight against each other for inheritance rights. To protect the children from their half-siblings and other lovers of their parents, it became common practice to send the children away to be raised by foster parents. It is also probable that lower class es, lived entirely different lives. Women in the lower classes could be sold into slavery, either for sexual favors or for household services, while men in the lower classes were most often pressed into service for wealthier men as shepherds, farmers or in other vocations. However, it also seems clear that education, including literacy, was practiced in most homes and was made available to girls as well as boys. The Germanic Sippe was a form of kinship group that seems to have been very similar to the Irish sept. While the Irish sept was clearly a blending of patrilineal and matrilineal lines, it is more difficult to trace these relations within the Germanic texts. However, there is evidence that the Sippe followed at least the bloodlines of the male. Also unlike the Irish, there seems to have been a closer connection between the Sippe and the land that they settled on. Although family groups seem to have settled the land, they are also like the Irish sept in that they probably

Apple Inc Business Organization Assignment Example | Topics and Well Written Essays - 1500 words

Apple Inc Business Organization - Assignment Example Apple Inc. has international operations which are operated from its California based headquarters. The company is headed by a team of top executives who are responsible for making strategic decisions which affect the company’s future operations. The management of the company and its activities are directed by a group of board of directors. The company’s business operations are divided into various functionalities which include consumer electronics arm, personal computers and software and mobile phones. The business activities are effectively designed into design, manufacturing or development, sales and marketing, development and research. Since the company operates in several markets across the world, it has varying levels of management and organizational or business activities.The strategic environment within Apple’s business environment can be analyzed through the application of Porter’s five forces for competitive advantage of a company. According to Po rter (1985, p. 54), the threat of new entrants into the market poses a significant challenge to the competitive of a company. Since Apple operates in many markets across the world, it is evident that the company is challenged by the new companies which arise in these markets and provide products and services similar to those of Apple. Examples of new entrants into the Apple’s business environment include new mobile phone companies, telecommunication service providers and manufactures of computer systems and mobile phones. which comprise of the services and products that the company provides. The threat of new entrants is more significant when these new operators provide services at a cheaper price than a specific company (Porter, 1985, p. 65). The power of buyers who represent the consumers of Apple’s products is a significant force that determines the company’s strategies for competitive advantage. The information and communication industry as well as the mobile phone and telecommunication sector across the world is very dynamic. This means that the needs of consumers change frequently in relation to their tastes and preferences (Porter, 1985, p. 72). It is in this sense that Apple Inc employs a strategic plan that focuses on fulfilling or meeting the needs of consumers. This is because consumers comprise of the most important stakeholder for any business. Hannagan (2009, p. 43) points out that the power of suppliers play a significant role in defining the business strategies that are employed by a company for strategic advantage within the market. The suppliers of Apple’s raw materials determine its success in production and assurance of quality for its electronic, computing and mobile phone products. It is in this sense that the company is mandated to ensure that in all of its markets especially where its production processes are situated has access to suppliers. More importantly the company ensures that it maintains a positive relationship with its suppliers so that it would maintain their loyalty. In this light, the company is able to become strategically competitive within its business environment by producing the best quality of products and services. Hannagan (2009, p. 29) says that the threat of substitute products within a company’

Financial Crisis Recovery Essay Example for Free

Financial Crisis Recovery Essay 1997-1998 Financial Crisis The weaknesses in Asian financial systems were at the root of the crisis that caused largely by the lack of incentives for effective risk management created by implicit or explicit government guarantees against failure. The weaknesses of the financial sector also were masked by rapid growth and accentuated by large capital inflows, which were partly encouraged by pegged exchange rates. In the mid-1990s, a series of external shocks began to change the economic environment the devaluation of the Chinese Renminbi and the Japanese Yen, rising of U. S. interest rates which led to a strong U.S. dollar, the sharp decline in semiconductor prices; adversely affected their growth. The crisis began in Thailand when the Thai baht collapse of in July 1997 with a series of speculative attacks on the baht extended after quite a few decades of outstanding economic performance in Asia. As the U.S. economy recovered from a recession in the early 1990s, the U.S. Federal Reserve Bank under Alan Greenspan began to raise U.S. interest rates to head off inflation. This made the U.S. a more attractive investment destination relative to Southeast Asia, which had been attracting hot money flows through high short-term interest rates, and raised the value of the U.S. dollar. For the Southeast Asian nations which had currencies pegged to the U.S. dollar, the higher U.S. dollar caused their own exports to become more expensive and less competitive in the global markets. At the same time, Southeast Asias export growth slowed dramatically in the spring of 1996, deteriorating their current account position. Many economists believe that the Asian crisis was created not by market psychology or technology, but by policies that distorted incentives within the lender–borrower relationship. Impacts of the crisis to the South East Asia Most of Southeast Asia and Japan having currency depreciation, devalued stock markets and other asset prices, and a precipitous rise in private debt. It were resulting large quantities of credit became available generated a highly leveraged economic climate, and pushed up asset prices to an unsustainable level. These asset prices eventually began to collapse, causing individuals, financial institutions and corporations in the affected countries were bankrupt. A change in market sentiment could and did lead into a violent of currency depreciation, insolvency, and capital outflows, which was difficult to stop. In the year after collapse of the baht peg, the value of the most affected East Asian currencies fell 35-83% against the U.S. dollar (measured in dollars per unit of the Asian currency), and the most serious stock declines were as great as 40-60%. Lenders led to a large withdrawal of credit from the crisis countries, causing a credit crunch and further bankruptcies. Foreign investors attempted to withdraw their money; the exchange market was flooded with the currencies of the crisis countries, putting depreciative pressure on their exchange rates. As a result, short-term economic activity has slowed or contracted severely in the most affected economies like inflation and rising in unemployment. It impossible that the government doing nothing when the crisis happened to their country. To prevent currency values collapsing, countries governments raised fiscal spending in domestic interest rates to exceedingly high levels (to help diminish flight of capital by making lending more attractive to investors) and to intervene in the exchange market, buying up any excess domestic currency at the fixed exchange rate with foreign reserves. But when interest rates were very high, it can be extremely damaging to an economy that is healthy, wreaked further havoc on economies in an already fragile state, while the central banks were hemorrhaging foreign reserves, of which they had finite amounts. As a strategy to maintain competitiveness, policies to strengthen the country’s balance-of-payments account were pursued. For example, exports were encouraged and imports were discouraged, the latter through an increase in import taxes on certain goods and services. Measures to increase exports for providing handouts directly to people affected included reducing the cost of doing business through such means as tax incentives to boost the manufacturing, agriculture, and services sectors. In the case Malaysia for example, there are policies regarding 1997 crisis: Denial and hesitation, the Malaysian government denied that there was a crisis in the first place; Tight fiscal and monetary policies, and restructuring the banking system; Government proposed to use regional currencies instead of the US dollars in inter-ASEAN bilateral trade; and Financing the recovery programs with the total cost of all measures was RM62 billion. While in the case of Indonesia, the government providing assistance to the poor like efforts to shield poor and vulnerable sections of society from the worst of the crisis, by deepening and widening social safety nets and devoting substantial budgetary resources to increasing subsidies on basic commodities such as rice; measures to increase transparency in the financial, corporate, and government sectors; and steps to improve the efficiency of markets and increase competition. Another example of helping the poor and needy, government must be fair and redistribute the wealth equally to them according their basic necessities of life. In Malaysia, the practicing of zakat system and waqaf contribution to help the poor and needy indirectly will benefit the society. Moreover, Bank Rakyat and ar-rahnu market on Islamic pawn-broking will help the small and medium enterprise to expend their business. Government also must allocate the budget expenditure for subsidizing mainly on education, healthcare and housing for the people. The International Monetary Fund (IMF) is an international organization that provides financial assistance and advice to member countries. It was created out of a need to prevent economic crises like the Great Depression. With its sister organization, the World Bank, the IMF is the largest public lender of funds in the world. It is a specialized agency of the United Nations and is run by its 186 member countries. Membership is open to any country that conducts foreign policy and accepts the organizations statutes. The IMF is responsible for the creation and maintenance of the international monetary system, the system by which international payments among countries take place. A core responsibility of the IMF is to provide loans to member countries experiencing actual or potential balance of payments problems. This financial assistance enables countries to rebuild their international reserves, stabilize their currencies, continue paying for imports, and restore conditions for strong economic growth, while undertaking policies to correct underlying problems. Unlike development banks, the IMF does not lend for specific projects. It thus strives to provide a systematic mechanism for foreign exchange transactions in order to foster investment and promote balanced global economic trade. To achieve these goals, the IMF focuses and advises on the macroeconomic policies of a country, which affect its exchange rate and its governments budget, money and credit management. The IMF will also appraise a countrys financial sector and its regulatory policies, as well as structural policies within the macroeconomic that relate to the labor market and employment. In addition, as a fund, it may offer financial assistance to nations in need of correcting balance of payments discrepancies. The IMF is thus entrusted with nurturing economic growth and maintaining high levels of employment within countries. The large financial packages which the IMF has arranged for countries affected by the Asian crisis and its result have stimulated a debate both among policy-makers and academics as to their costs and benefits. The IMF’s role in providing financial assistance to its members in overcoming short-term balance-of-payment difficulties generally has been evident. Advantages and disadvantages of IMF The IMF offers its assistance which it conducts on a yearly basis for individual countries, regions and the global economy as a whole. However, a country may ask for financial assistance if it finds itself in an economic crisis, whether caused by a sudden shock to its economy or poor macroeconomic planning. A financial crisis will result in severe devaluation of the countrys currency or a major depletion of the nations foreign reserves. In return for the IMFs help, a country is usually required to embark on an IMF-monitored economic reform program, otherwise known as Structural Adjustment Policies (SAPs). An IMF loan provides a cushion that eases the adjustment policies and reforms that a country must make to correct its balance of payments problem and restore conditions for strong economic growth. Supporters argue that the IMF can also impose necessary reforms on an economy. Reforms such as privatization, fiscal responsibility, control of Money supply, and attacking corruption. These policies may cause short term pain, but, are essential for preventing future crisis and long term development. Substantial financial advantages are attached to IMF credits because debtor countries benefit from lower debt service costs. Moreover, commercial banks often demand agreement with the IMF before lending is resumed and generally will charge lower interest rates to countries with an IMF program. The benefits attached to the IMF loan can be regarded as a compensation for the policy adjustments which the debtor countries carry through. At the same time, thanks to the unique role the IMF can play, the costs involved for the creditor countries seem to be rather limited, as the opportunity costs of forgoing the proceeds of alternative investments are relatively small. By temporarily providing finance and at the same time fostering adjustment, member countries could overcome external problems without overly detrimental measures either for their own population or for other countries. The interest rates charged by the IMF in normal circumstances can be relatively low, because the special role of the IMF in the international financial system reduces the risks for the IMF itself as well as for the creditor countries which have provided the resources. Because of its special position the IMF can mitigate the risks attached to its loans. Helped by its low funding costs, the IMF can charge debtor countries lower interest rates than private sector participants which have to charge high spreads because of the sovereign risks involved. Over time, the IMF has been subject to a range of criticisms, generally focused on the conditions of its loans. The IMF has also been criticized for its lack of accountability and willingness to lend to countries with bad human rights record. On giving loans to countries, the IMF makes the loan conditional on the implementation of certain economic policies. These policies tend to involve: * Reducing government borrowing Higher taxes and lower spending * Higher interest rates to stabilize the currency. * Allow failing firms to go bankrupt. * Structural adjustment. Privatizations deregulation, reducing corruption and bureaucracy. The problem is that these policies of structural adjustment and macroeconomic intervention make the situation worse. For example, in the Asian crisis of 1997, many countries such as Indonesia, Korea and Thailand were required by IMF to pursue tight monetary policy (higher interest rates) and tight fiscal policy to reduce the budget deficit and strengthen exchange rates. However, these policies caused a minor slowdown to turn into a serious recession with mass unemployment. The IMF have been criticized for imposing policy with little or no consultation with affected countries. Jeffrey Sachs, the head of the Harvard Institute for International Development said: In Korea the IMF insisted that all presidential candidates immediately endorse an agreement which they had no part in drafting or negotiating, and no time to understand. The situation is out of hand. It defies logic to believe the small group of 1,000 economists on 19th Street in Washington should dictate the economic conditions of life to 75 developing countries with around 1.4 billion people. Because the IMF lends its money with strings attached in the form of its SAPs, many people and organizations are vehemently opposed to its activities. Opposition groups claim that structural adjustment is an undemocratic and inhumane means of loaning funds to countries facing economic failure. Debtor countries to the IMF are often faced with having to put financial concerns ahead of social ones. Thus, by being required to open up their economies to foreign investment, to privatize public enterprises, and to cut government spending, these countries suffer an inability to properly fund their education and health programs. Moreover, foreign corporations often exploit the situation by taking advantage of local cheap labor while showing no regard for the environment. The oppositional groups say that locally cultivated programs, with a more grassroots approach towards development, would provide greater relief to these economies. Critics of the IMF say that, as it stands now, the IMF is only deepening the rift between the wealthy and the poor nations of the world. Indeed, it seems that many countries cannot end the spiral of debt and devaluation. The relatively low interest rates charged by the IMF can lead to moral hazard behavior on the part of the debtor countries. This is largely reduced through the tough policy measures which the IMF imposes as a condition for its programmers. In practice, most countries do not turn to the IMF if not forced by adverse circumstances. Decisions about which countries may borrow money are made by rich countries. Poor countries have little say about loans and the conditions attached to them. The IMF will only lend money to countries if they agree to certain conditions. These conditions increase poverty. The livelihoods of people in poorer countries are destroyed by unfair competition from foreign goods and services. The IMF does not give good financial advice. Countries have suffered by following it. IMF East Asia Case The IMF was involved in one of the worst East-Asian economic crises thus far. Everything started when Thailand was experiencing difficulties in meeting foreign liability obligations so the IMF intervened by suggested to devalue the Baht. The same suggestion was made to Indonesia, Korea and the Philippine. Soon, South Korea and Taiwan jumped in the trend and Hong Kong and Singapore dollars faced speculative attack. The crisis spread all the way to South America where Brazil and Argentina currency came under attack, but they both stood their grounds and refused to devalue which might have prevented a global financial crisis. Other aspects of the handling of the case that were looked down upon were the issue of the bail-out and the political situation of the borrowing country had once again been ignored. Thailand had already borrowed from the IMF and they were bailed-out very publicly which gave an incentive for surrounding countries to follow very risky projects or decisions, believing that the IMF would be a safety net as opposed to a lender of last resort. This is what happened in South Korea when large, unprofitable investment projects were undertaken, largely due in part to the conglomerates of businesses that are close to the bureaucracy but more importantly, sponsored by the IMF. Likewise, Fund officials protested that many East-Asian countries needed a reform in the banking system and governance, where bad banking, nepotism and corruption do not help create stable and efficient economies. During August December 1997, the International Monetary Fund signed three emergency lending agreements with Thailand (August), Indonesia (November), and Korea (December). These programs established packages of international financial support at an unprecedented cumulative sum of approximately $110 billion, based on the financing commitments. During the period August to December, the IMF programs failed dramatically to meet the objective of restoring market confidence. In all three countries, the exchange rate was expected to stabilize, but in fact quickly depreciated far below the targets set in the program, and this despite a very sharp increase in interest rates. Foreign investors remained unconvinced about the debt servicing capacity of the private debtors despite the announced availability of IMF loans, and continued to demand the repayment of short-term loans as they fell due. The IMF programs failed to achieve their goal of maintaining moderate economic growth in the Asian countries. The programs also failed on several intermediate goals, including the preservation of creditworthiness, the continuation of debt payments, and the stabilization of the exchange rate at levels that prevailed upon the signing of the original lending agreements Indonesia was deeply affected by the 1997–1998 crises, more so than its East Asian neighbors. Its economic contraction was deeper and more prolonged. It was the only one to experience a (temporary) loss of macroeconomic control. Eight years have passed since the collapse of Suharto’s New Order regime on the heels of the economic crisis of 1997–1998. During that time, Indonesia’s economy contracted by over 13% in 1998 alone. This followed three decades of virtually uninterrupted rapid economic growth and led to deep social and political crises. Although countries such as South Korea and Thailand were able to overcome their economic crises in a few years, Indonesia’s crisis resolution has been complicated by political instability, at least until 2004, and by a slower recovery. Indonesia was formally under International Monetary Fund management from 1997 to the end of 2003. But the presence of the IMF actually increased the severity of the Indonesian economy, not more than one year after that; there were capital flight out of the country that led to massive unemployment, compounded by the drastic decline in the exchange rate. At the end of 1998 more than 50% of Indonesias population lives below the poverty line. One of the IMFs policy prescriptions is to close 16 banks and it caused the anger of people and withdraws their money in national banks and some foreign banks. In May 1998, due to an agreement between the IMF and Suharto, the government revoked subsidies for food, and raises the price of oil and electricity. This policy had a strong opposition from the people and not long after that, Suharto regime fell. During Megawati regime, in August 2003 the government finally decided not to continue the IMF program and choose to enter the post-program monitoring. The government option raises the consequences that are not much different. IMF can still continue to dictate economic policy in Indonesia because the government still had to consult every economic policy that will be taken with IMF. The Indonesian government announced that they would pay the remaining debt to the IMF, totaling U.S. $ 7.8 billion, within 2 years. It seems to be the correct political decision to break away from the economic policy interventions that has continued since the crisis in 1997. 2008 Financial Crisis Triggered by events in The US and EU The cause or trigger of the 2008 global financial crisis was the boom of the United States housing bubble which peaked in approximately 2005–2006. Since banks began to give out more loans to potential home owners, housing prices began to increase. The increase in house price and improvement of construction activity started around 1992. At that time the Federal Reserve was holding its policy interest rate at an unusually low level by the standards of the past few decades. The good times lasted until 2005, when monetary policy was tightening after another spell of low interest rates. Over that period, construction activity contributed 1/5 percentage points annually to the growth rate of real GDP, and the share of employment in construction and finance, out of the total workforce, rose from 10 ¼ percent to 11 ¾ percent. That is, over this period, of the 27.4 million people added to work rolls (which ended 2006 with a total of 136 million), 4.8 million were directly related to construction and fifi nance. Finally, the nation was left with an excess stock of housing. A contraction in construction transpired to wind down the inventory overhang, which is often a feature of economic slowdowns and recessions. In addition to that, easy lending standards also contributed to the Real estate bubble. Loans of various types (e.g., mortgage, credit card, and auto) were easy to obtain. As part of the housing and credit booms, the number of financial agreements called mortgage-backed securities (MBS) and collateralized debt obligations (CDO), which derived their value from mortgage payments and housing prices, greatly increased. That kind of financial innovation attracted institutions and investors around the world to invest in the U.S. housing market. As housing prices declined, major global financial institutions that had borrowed and invested heavily in subprime MBS reported significant losses. While the housing and credit bubbles were expanding, US Government was going a process called financialization. US Government policy from the 1970s onward has emphasized deregulation to encourage business, which resulted in less oversight of activities and less disclosure of information about new activities undertaken by banks and other evolving financial institutions. Thus, policymakers did not immediately recognize the increasingly important role played by financial institutions such as investment banks and hedge funds, also known as the shadow banking system. These institutions, as well as certain regulated banks, had also assumed significant debt burdens while providing the loans described above and did not have a financial cushion sufficient to absorb large loan defaults or MBS losses. These losses impacted the ability of financial institutions to lend, slowing economic activity. The U.S. Financial Crisis Inquiry Commission reported its findings in January 2011. It concluded that the crisis was avoidable and was caused by: 1. Widespread failures in financial regulation, including the Federal Reserve’s failure to stem the tide of toxic mortgages; 2. Dramatic breakdowns in corporate governance including too many financial firms acting recklessly and taking on too much risk; 3. An explosive mix of excessive borrowing and risk by households and Wall Street that put the financial system on a collision course with crisis; 4. Key policy makers ill prepared for the crisis, 5. Lacking a full understanding of the financial system they oversaw; and systemic breaches in accountability and ethics at all levels.[35][36] Table 1 The Causes and Impacts of Global Financial Crisis Taken from Takatoshi Ito â€Å"Comparison of the Financial Crises: Japan and Asia in 1997-1998 vs. U.S. 2008-09† The Collapse of World Trade Although the crisis is originally from financial sector, trade had great implication that hit countries around the world. Exports collapsed in nearly every major trading country, and total world trade fell faster than it did during the Great Depression. From a peak in July 2008 to the low in February 2009, the nominal value of world goods exports fell 36 percent; the nominal value of U.S. goods exports fell 28 percent (imports fell 38 percent) over the same period. Even a country such as Germany, which did not experience their own housing bubble, experienced substantial trade contractions, which helped spread the crisis. The collapse in net export in Germany contributed to the decline in their GDP which put the country into recession. In the fourth quarter of 2008, Germany’s drop in net exports contributed 8.1 percentage points to a 9.4 percent decline in GDP (at an annual rate); Japan’s net exports contributed 9.0 percentage points to a 10.2 percent GDP decline. Real exports fell even faster in the first quarter of 2009. The Decline in Output Around the Globe The financial crisis was rapidly transmitted to the real economy. The financial disruption was so strong and swift in most countries so that their confidence level in economy fell as well. Confidence levels are measured in different ways across countries, but they were generally falling throughout 2008 and reached recent lows in the fall of 2008 and winter of 2009. As noted, world GDP is estimated to have fallen roughly 1.1 percent in 2009 from the year before. In advanced economies, the crisis was even deeper; the IMF expects GDP to have contracted 3.4 percent in advanced economies for all of 2009. For OECD member countries, GDP fell at an annual rate of 7.2 percent in the fourth quarter of 2008 and 8.4 percent in the first quarter of 2009. Despite the historic nature of its collapse, the U.S. economy actually fared better than about half of OECD economies during those quarters. The decline in industrial production across major economies, each of these economies in January 2009 was more than 10 percent below its January 2008 level, and Japan faring far worse relative to the other major economies. Impact on Developing Countries The impact of the crisis on developing countries will affect different types of international resource flows: private capital flows such as Foreign Direct Investment (FDI), portfolio flows and international lending; official flows such as development finance institutions; and capital and current transfers such as official development assistance and remittances. The World Association of Investment Promotion Agencies foresees a 15% drop in FDI 2009. FDI to Turkey has already fallen 40% over the last year and FDI to India dropped by 40% in the first six months of 2008. FDI to China was $6.6 billion in September 2008, 20% down from the monthly average in year 2008 so far, and mining investments in South Africa and Zambia have been put on hold. The crisis has led to a drop in bond and equity issuances and the sell-off of risky assets in developing countries. The average volume of bond issuances by developing countries was only $6 billion between July 2007 and March 2008, down from $ 15 billion over the same period in 2006. Between January and March 2008, equity issuance by developing countries stood at $5 billion, its lowest level in five years. As a result, World Bank research suggests some 91 International Public Offerings have been withdrawn or postponed in 2008. However, not all developing countries were effected tremendously by 2008 financial crisis. In South East Asia we may take a look Indonesia performance towards the 2008 financial crisis. Indonesia experienced a significant macroeconomic shock at the end of 2008. But, of course, Indonesia was not on its own. Indeed, Indonesia was one of the least affected countries in South East Asia. Although GDP growth slowed markedly to 4.4% in the first quarter of 2009, it did not experience the collapse in growth experienced by countries such a Korea, Thailand and Malaysia. Indonesia’s growth in recent years has been driven predominantly by non-tradeables rather than tradeables, and, although the crisis reduced growth across the board, sectors such as transport and communications, and utilities have continued to grow in double digits. At the same time, the tradeable sector which has performed best is agriculture, which, at 4.8%, has experienced its strongest growth since the East Asian crisis, helping to compensate for the effects of the crisis. Indonesia has learnt from 1997 crisis so that they can manage 2008 financial crisis well. The Role of International Institutions of The G-20 The G-20, which includes 19 nations plus the European Union, is the the main nations of much of the coordination on trade policy, financial policy, and crisis response. Its membership is composed of most of the world’s largest economies and makes up nearly 90 percent of world gross national product. The first G-20 leaders’ summit was held at the peak of the crisis in November 2008. At that point, G-20 countries committed to keep their markets open, adopt policies to support the global economy, and stabilize the financial sector. The second G-20 leaders’ summit took place in April 2009 at the height of concern about rapid falls in GDP and trade. Leaders of the world’s largest economies pledged to â€Å"do everything necessary to ensure recovery, to repair our financial systems and to maintain the global flow of capital.† Furthermore, they committed to work together on tax and financial policies. Perhaps the most notable act of world coordination was the decision to provide substantial new funding to the IMF. U.S. leadership helped secure a commitment by the G-20 leaders to provide over $800 billion to fund multilateral banks broadly, with over $500 billion of those funds allocated to the IMF in particular. In September 2009, the G-20 leaders met in Pittsburgh. They noted that international cooperation and national action had been critical in arresting the crisis and putting the world’s economies on the path toward recovery. They also recognized that continued action was necessary, pledged to â€Å"sustain our strong policy response until a durable recovery is secured,† and committed to avoid premature withdrawal of stimulus. They launched a new Framework for Strong, Sustainable, and Balanced Growth that committed the G-20 countries to work together to assess how their policies fit together and evaluate whether they were â€Å"collectively consistent with more sustainable and balanced growth.† Further, the leaders committed to act together to improve the global financial system through financial regulatory reforms and actions to increase capital in the system. It set up emergency lines of credit (called Flexible Credit Lines) with Colombia, Mexico, and Poland, which in total are worth over $80 billion. These lines were intended to provide immediate liquidity in the event of a run by investors, but also to signal to the markets that funds were available, making a run less likely. In each of these countries, markets responded positively to the announcement of the credit lines, with the cost of insuring the countries’ bonds narrowing (International Monetary Fund 2009b). The IMF also negotiated a set of standby agreements with 15 countries, committing a total of $75 billion to help them survive the economic crisis by smoothing current account adjustments and mitigating liquidity pressures. IMF analysis suggests that this program discouraged large exchange-rate f in fluctuate in these countries (International Monetary Fund 2009). These actions as well as the very existence of a better-funded global lender may have helped to keep the contraction short and to prevent sustained currency crises in many emerging nations. The Government Responses The U.S. executed two stimulus packages, totaling nearly $1 trillion during 2008 and 2009. The U.S. Federal Reserves new and expanded liquidity facilities were intended to enable the central bank to fulfill its traditional lender-of-last-resort role during the crisis while mitigating stigma, broadening the set of institutions with access to liquidity, and increasing the flexibility with which institutions could tap such liquidity. United States President Barack Obama and key advisers introduced a series of regulatory proposals in June 2009. The proposals address consumer protection, executive pay, bank financial cushions or capital requirements, expanded regulation of the shadow banking system and derivatives, and enhanced authority for the Federal Reserve to safely wind-down systemically important institutions, among others. The response of the Federal Reserve, the European Central Bank, and other central banks was taken shortly and dramatic. During the last quarter of 2008, these central banks purchased US$2.5 trillion of government debt and troubled private assets from banks. The governments of European nations and the USA also raised the capital of their national banking systems by $1.5 trillion, by purchasing newly issued preferred stock in their major banks. In October 2010, Nobel laureate Joseph Stiglitz explained how the U.S. Federal Reserve was implementing another monetary policy —creating currency— as a method to combat the liquidity trap. By creating $600,000,000,000 and inserting this directly into banks, the Federal Reserve intended to spur banks to finance more domestic loans and refinance mortgages. However, banks instead were spending the money in more profitable areas by investing internationally in emerging markets. The bank bailout, more formally called the Troubled Asset Relief Program, failed to achieve the ultimate goal. The goal of these bailouts from the perspective of the largest financial institution is billions of dollars in taxpayer money allowed institutions that were on the brink of collapse not only to survive but even to flourish. The legislation that created TARP, the Emergency Economic Stabilization Act, had far broader goals, including protecting home values and preserving homeownership. Congress was told that TARP would be used to purchase up to $700 billion of mortgages and to obtain the necessary votes, Treasury promised that it would modify those mortgages to assist struggling homeowners. However, almost immediately, as permitted by the broad language of the act, Treasury’s plan for TARP shifted from the purchase of mortgages to the infusion of hundreds of billions of dollars into the nation’s largest financial institutions, a shift that came with the express promise that it would restore lending. Treasury, however, provided the money to banks with no effective policy or effort to force the extension of credit. There were no strings attached: no requirement or even incentive to increase lending to home buyers, and against our strong recommendation, not even a request that banks report how they used TARP funds. It raised the issues on accountability in providing the bailouts. Lesson Learnt from 2008 Crisis There are several lessons that can be learnt from 2008 financial crisis. Those lessons are stated below : 1. Aggregate volatility is part of market system. There is a need to have more depth study of aggregate volatility. 2. Long lived large firms (such as financial institutions) may not be fully trusted. We should rethink the role of reputation of firms in market transactions. In addition, we need to revisit the key elements of the economy of organization so that reputation should be derived from the behavior not merely from the asset. 3. Economic growth will only take place if there is real increase in the real commodities not financial commodities. 4. People mistakenly equated free markets with unregulated markets. 5. Policy makers should be flexible in their policies and guided by overall national objectives. 6. All trading countries should diversify both their exports composition as well as export destination. 7. World financial system is becoming fragile so that there is a need to reform the current financial system. Islamic based economy system has great opportunity to alter the existing financial system. Islamic perspective From Islamic perspective, the approach that most suitable which is providing handout to the poor and directly to people affected by financial contracts. There were horrible gaps between the rich and the poor all over the world, which remained existent all the time, even after the fall of the planned economy. It goes without saying that the position in developing and under developed countries is even worse. This uneven and unjust system of distribution needs to be reformed on a conceptual basis. The entire world today is crying on the present financial crisis, but few people have realized that this is basically a crisis of rich people who were playing with loads of wealth, and all of a sudden, their income faced a steep fall. So far as poor people are concerned, they have been living in perpetual crisis all the times, but no one care for them, The present crisis should not be examined within the relatively narrow confines of debt; rather, it is fundamentally a question of social justi ce, a concept that is paramount in Islam. Social justice includes three aspects, namely a fair and equitable distribution of wealth; the provision of basic necessities of life to the poor and the needy; and protection of the weak against economic exploitation by the strong. The debt burden, however, is increasing inequality between rich and poor countries and is tantamount to exploitation. It also means that poor countries are often unable to provide the most basic services for their citizens. The huge debt that currently burdens poor countries has arisen from loans that have charged interest and have not shared risk between the lender and the borrower and have, therefore, contravened the two most fundamental principles of Islamic finance. Islamic commands to refrain from charging interest and to share financial risk seek to avoid the concentration of wealth and the economic exploitation of the weak and thereby prevent situations such as the current debt crisis from arising in the first place. The core belief in Islamic finance is that money should not in itself be an earning asset; therefore, Islam prohibits any and all forms of interest. There are also other systems which prevent an economic crisis of pandemic proportions to arise; contractual relationships in business, finance or trade must be based on trust and familiarity of networks of common experiences (takaful) which implies that debts cannot be repackaged and resold as assets globally to faceless investors while profit must be redistributed directly to the poor (zakat) in the Holy month of Ramadan to build and strengthen social safety nets through institutions of charity welfare and education. Over and above zakat, all Muslims pay zakat fitrah to the poor, during the month of Ramadan, either through state collection centers or direct contributions to the poor. There is a trend within rural areas to identify destitute families and the disabled within the underserved rural areas of the State where they reside. Over the last few years, increasing realization of a topic poverty during an economic crisis creating the new poor among the Muslim working classes and a bnormally high repayment rates through unlicensed loan-sharks and licensed money-lenders have made national banking institutions which serve the poorer rural communities shift their services to the Ar-Rahnu market or Islamic pawn-broking market. Currently four Islamic financial institutions, Bank Rakyat (The People’s Bank); the Yayasan Pembangunan Ekonomi Islam Malaysia (Islamic Foundation of Economic Development, Malaysia); Permodalan Kelantan Bhd (Kelantan Investment Co.); and the Agro bank offer such services to the rural and urban working classes. It has established an Ar-Rahnu X’Change Franchise Network, where it plans to provide an Ar-Rahnu franchise throughout the country, managed by reputable cooperatives of the working classes. Given the acute dependency of the working classes on ready cash in times of emergency and the high rates of interest in regular pawn-broking market, there seems to be few alternatives except to expand the Ar-Rahnu market among Muslims and non-Muslims and charge the poor for ‘safekeeping’ services, rather than interest. Despite the fact that loan disbursements of Bank Rakyat alone is among the services which have contributed to Bank Rakyat’s amazing rise as a successful national cooperative bank, giving out higher than normal dividends to its share holders, loan sharks are virtually setting up desks outside flats and apartment buildings of the Muslim poor in towns and cities to offer cash and carry’ facilities to the desperately poor. This lucrative market speaks volumes of the rise of atopic poverty among those on or below the poverty line, the inadequacy of zakat and disbursements of zakat, the high dependency on regular income earners among the middle classes for welfare driven services and products and unclear nature of the rising wealth of the Muslim and non-Muslim upper classes in Malaysia The Islamic finance can bring on significant gains in money released into public capital and infrastructure. The redistributive mechanisms of surplus are instituted into welfare based institutions such as free or subsidized education, health and child care, education, and even publicly directed employment. Its principles may differ from modern welfare economics except the gains at the far end of the redistributive machinery are similarly directed towards the poor. The policies of the New Economic Policy in Malaysia, state welfares in Brunei, or publicly instituted employment as in MENA countries are more Islamic than regul ar, except they are part of the post-colonial ‘reformist’ policies of Muslim states which preceded the modern up-beat drive towards Syaria’ah compliant finance. Islamic finance, however, has not demonstrated a clear connectivity with redistributive justice as in the post-colonial political economy except through instituted deductions of zakat from dividends of shareholders. Profits from credit or financial corporations are not necessarily redistributed through zakat. Furthermore, for borrowers, the appreciated value of assets and services as forecasted and built into systems and rates of repayments which compensate for the lack of interest and, in reality, repayment rates may even out with the regular—rates are generally fixed in advance unlike regular interest rates which are more flexible, varying according to market conditions. However, it does allow more capital to be released into projects immediately, allowing a more extensive amount of goods and services to be produced, without the worry of serving loans. One, however, has to be assured of significant productivity even in the early stages of the loan but payments of zakat accruing from successful investment, from the financier or production from the borrower are fixed at a low rate of 2.5%. It is also consensual rather than forced (as in income taxation) and Muslim countries in general pur sue income tax collections as the more important thrust of national revenue. There are generally two disparate systems at work in Muslim countries Islamic finance and post-colonial welfare instituted economics. The welfare inputs in Islamic countries which are operational today proceed whether or not there are institutions of Islamic finance in the country. In Malaysia, Brunei, and the MENA countries discussed in this paper, components of welfare economics in heavily subsidized education, health, housing, farming, and welfare for the poor, are part of a post-colonial legacy of social reform to institute economic parity across groups and classes. In these Muslim nations, the public sector has played an important role in employment for Muslim or indigenous citizens, often acting as a social safety net in times of economic crises. However, these welfare driven policies are subject to much criticism since they favour the poor, encourage low productivity, and a non-competitive public sector. As Islamic institutions of welfare catch on with progressive social educa tion through media and networks and become an alternative system of welfare for poorer Muslims through zakat and other contributions, welfare increasingly becomes a social responsibility of the Muslim middle classes. There is hardly any data on how the profits earned by larger corporations of Islamic finance actually become instituted into a system of welfare economics based in Islam. Private investment trusts of political elites or national trusts controlled by them. In a properly instituted system of redistribution, through wages, salaries, educational, and health subsidies and so on, there should be very little wealth differential between the owners of political Capital and citizens but economic disparities are significant in these Muslim countries and it has been shown how gains among the lowest 20% may be offset by higher or equivalent gains among the top 20% income earners of these nations. The production of stable professional middle classes in these nations has led to an enrichment of social capital and welfare driven redistributive institutions through social networks but Islamic conscientisation had sometimes moved this ‘spiritual gain’ as an objective reality. The belief i n ibadah or ‘to do good’ may outweigh the call for greater transparency in the use of national collections of zakat and so on. Many Muslims in Malaysia pay both income tax and zakat, rather than ask for exemption from income tax. They also maintain Islamic voluntary organizations with personal funds, donate to mosques and charities, and make endless food contributions to orphans and the poor. There is very little data gathered on the actual amounts paid privately or anonymously and state-directed contributions, although increasing, are not reflective of actual payments contributed by the middle classes towards Islamic charitable institutions. On the other hand, Muslim based banking and financial institutions are obscure in their social responsibility towards the poor, including their own clients who may be victims of topic poverty during times of economic crises. In conclusion, Islamic institutions of trusts which are state directed or privately administered by banking and credit agencies contain more humanistic principles of investment and redistribution of profits except that there is a missing component—between the principles of redistribution of surplus or profits in Islam finance and the actual mechanisms to provide welfare to the people who are not share-holders or stake-holders. In Malaysia, Brunei, and the MENA countries of the Middle East and North Africa, state agencies assume trusteeships over compulsory collections like the zakat but do not have any institutional mechanisms to enforce private corporations local or foreign to contribute towards the welfare of the poor. Conclusion The first Financial crisis was began in July 1997 when the Thai baht collapse with a series of speculative attacks on the baht extended after quite a few decades of outstanding economic performance in Asia and most of Southeast Asia and Japan having currency depreciation. There some approach to help financial recovery, It is impossible that the government doing nothing when the crisis happened to their country. To prevent currency values collapsing, governments raised fiscal spending in domestic interest rates to exceedingly high levels. And last approach Government providing handouts directly to people affected and providing assistance to the poor like efforts to shield poor and vulnerable sections of society from the worst of the crisis The International Monetary Fund (IMF) is an international organization that provides financial assistance and advice to member countries. It was created out of a need to prevent economic crises like the Great Depression. The large financial packages which the IMF has arranged for countries affected by the Asian crisis and its result have stimulated a debate both among policy-makers and academics as to their costs and benefits. However, IMF has also been criticized for its lack of accountability and willingness to lend to countries with bad human rights record Debtor countries to the IMF are often faced with having to put financial concerns ahead of social ones The cause or trigger of the 2008 global financial crisis was the boom of the United States housing bubble which peaked in approximately 2005–2006. The impact of the crisis on developing countries will affect different types of international resource flows: private capital flows such as Foreign Direct Investment (FDI). However, not all developing countries were effected tremendously by 2008 financial crisis, Indonesia was one of the least affected countries in South East Asia. The G-20, is the the main nations of much of the coordination on trade policy, financial policy, and crisis responses. The first G-20 leaders’ summit was held at the peak of the crisis in November 2008. The bank bailout, more formally called the Troubled Asset Relief Program, failed to achieve the ultimate goal From Islamic perspective approach that most suitable which is providing handout to the poor and directly to people affected by financial contracts the present crisis should not be examined within the relatively narrow confines of debt, rather it is fundamentally a question of social justice, a concept that is paramount in Islam. The practicing of zakat system and waqf contribution to help the poor and needy indirectly will benefit the society. And this is the best approach that government should do by providing help directly to the poor and people affected by financial contract namely firms and banks. If government reduced the amount tax to be paid, cost of production will decrease level of employment and production will increase. Meanwhile, banks will bail out to save company and people indirectly reduced the worry of public causing the level of borrowing and consumption raises. So, as a result, it can stimulate the capital investment of the economy to increase the economic growth and level of GPD. 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INWENT/DIE/BMZ conference in Berlin, 11 December 2008. [ 29 ]. Ibid [ 30 ]. Ibid [ 31 ]. Ibid [ 32 ]. Ibid