The Renminbi Challenge And The World Economy Finance Essay - Free Essay Example

There has been much talk of the Internationalisation of the RMB and the recent currency war between the US and China with the US exerting pressure on China to appreciate its currency. Whilst the Chinese leaders are unlikely to yield to US pressure, they recognise that there is a need to gradually appreciate the currency to counter the risk of inflation and adjusting the Balance of Payments without damaging and destabilising Chinas export industries. China has come a long way in the last 3 decades and has become a key player on the international stage. China is the second largest recipient of foreign direct investment (FDI), with inflows of $95 billion in 2009. It has overtaken Japan in the second quarter of 2010 as the worlds second largest economy and overtaken Germany as the worlds largest exporter. It holds the largest share of foreign exchange reserves (just under $2.5 trillion). However, it does not have a currency that reflects its prominent role and therefore recognises the need to move to a more flexible exchange rate regime and a fully convertible RMB. RMB is not fully convertible and is not a unit of account for exchange means in international transactions Despite its prominent role in the world economy, the RMB is not fully convertible, creating a mismatch on its international balance sheet between liabilities that are typically denominated in RMB. Chinas over-reliance on the Dollar can be associated with the risk of excessive exposure to liquidity shortage within the world economy and the consequent reduction of trade finance as experienced by the lesson learnt from 2007-2008 financial crisis. To use the RMB as a future means of payment in international trade transactions would reduce the impact of international financial market volatility on its economy. The Central Government will also face less pressure in the managing of its huge foreign exchange reserves. China has no past experience nor road map to pave a way to develop RMB as an international currency so its challenge is immense. China does not have a reserve currency with intrinsic value linking and convertibility to gold. The RMB can only be compared to the Dollar itsel f. China also faces another challenge if its currency is channelled into the hands of foreign holders. With its huge current account surplus, this is not going to be easy without further expanding the Dollar element on the asset side of the Central Banks balance sheet. Planning Currency Moves and paving the way to Internationalise the RMB RMB revalued its decade 8.28 exchange rate peg to USD on 21 July 2005 to 8.11 to reform the exchange rate regime to meet the needs of China and world financial markets and moved to a managed float. In July 2008, RMB was re-pegged to USD to help exporters cope with sliding demand triggered when the global financial crisis intensified. Striving to increase RMB flexibility, it abandoned the 23-month re-pegging to USD. The RMB has gradually appreciated to help curb inflation and assuage the demand of its trading partners. As consumer prices rose 4.4% MoM in Oct 2010, PBOC raised RMB rate 0.31% to 6.6242 on 11 Nov2010, the strongest increment since the peg was scrapped in July 2005. Beijing is relying on its market power to encourage foreign businesses, especially from its regional neighbouring countries, to use the RMB to settle its transactions with Chinese firms whilst building a RMB denominated asset offshore market in Hong Kong without prematurely opening the capital account and increasing the imbalance in its international balance sheet. Success will depend on a combination of well-designed, controlled policies and market forces with an objective for Shanghai to be developed as an international financial centre by 2020. Formation of the offshore RMB market Hong Kong is Chinas RMB offshore centre under the One Country, Two Systems which is needed to maintain the status quo on the capital account and to ensure that any possible negative impact of the experiment can be successfully walled off from the domestic market . Since 2004, daily permitted conversion of RMB 20,000 by HK residents has accumulated to approx RMB 80bn by the middle of this year, mainly made up of low yield deposits, remittances, exchange and credit card services driven largely by anticipated RMB appreciation. In May 2009, Chinas State Council granted approval to 2 foreign financial institutions registered in HK, namely HSBC and the Bank of East Asia, to issue RMB denominated bonds. In July 2010, offshore RMB market gained pace with the signing of the Supplementary Memorandum of Cooperation on the Expansion of the RMB Trade Settlement Scheme which enabled free circulation of the RMB outside the Mainland. In August 2010, China eased restrictions on foreign offshore Banks access to the interbank bond market to offer products with more favourable terms which attract even greater demand for the RMB offshore. Is the internationalization of the RMB feasible and realistic in the current environment? According to the HKEx Chief Executive Charles Li , the RMB is likely to evolve in 3 stages, namely gaining international acceptance in becoming a currency of trade (5-10 years), a currency of investment (10+ years) and ultimately a reserve currency (20+ years). Today, trade settlement in RMB has amounted to RMB 91.6 bn and is still growing rapidly despite current capital account and convertibility constraints. The issue is not whether the RMB will become an international trade currency but as to how fast this can be achieved with market consensus being that full convertibility of the RMB is just a matter of time and revaluation will be forthcoming in the interim. To become a reserve currency, the capital account also needs to be convertible. Further investment options need to be available for Investors to hedge their risk. Strategy of structural reforms and domestic consumption It is expected income distribution, healthcare, provision for public housing, other social services will be the main theme of Chinas 12th Five Year Plan. Following the last financial crisis, China is shifting from an export and fixed investment-led economy into consumption-oriented economy to remove the heavy reliance on export growth. Addressing huge income gap between wealthy urbanites and the poor farming communities is also on its agenda. Spending on Health Care will likely increase 7 fold between 2008-2018 with the constructing of 2,000 new county hospitals and other rural clinics. Other reforms will include building roads, new energy, equities and fixed assets. Central Government has promised to cut carbon dioxide emission per unit of GDP in 2020 by 40 to 45% from the 2005 levels. 80% of external funding for the Chinese economy comes from bank loans, it raises the need for funding source diversification through the Capital Market in Corporate loans and equities. Mainland insu rance and securities companies could be the biggest beneficiaries of these reforms. China will seek to maintain stability on macro, fiscal policy and monetary policy. RMB exchange rate should also maintain relative stability so that domestic manufacturers and exporters can better predict and adjust to the market. Any significant move on the RMB could see foreign money pouring into the country which will cause inflation. If revaluation is large, domestic companies face a risk of being priced out of the market and impact export growth leading to higher unemployment and social unrest. Chinese leaders appear to have concluded that RMB revaluation is a contingency. Given that a more flexible currency mechanism is forthcoming, Beijing needs to prepare its countrys financial system for possible shock effects from exchange reform and make effective the State enterprise. Business Opportunities for Financial Institutions like Credit Suisse The earliest beneficiaries of the RMBs Internationalization will be the Banks, Insurers and Asset Managers with their products offerings. Credit Suisse has strong Investment Banking, Asset Management and Private Banking capabilities and has positioned itself in recent years to take advantage of the reforms and huge growth in China. There will be a growing market in the acquisitions by Chinese state-owned enterprises in the coming years. Chinese Corporate, financial institutions and Government alike will require significant capital in the next 5 to 10 years and the sectors most likely to be in need of financing are financial services, infrastructure and natural resources. The last five years have seen spectacular IPOs in the Chinese market and this trend is likely to continue as long as the Chinese economic growth is maintained. Credit Suisse positions itself in China Credit Suisse is a market-leader in Investment Banking (including Corporate Banking), Asset Management and Private Banking and offers multi product suites, first class execution and distributions, trade settlements and capital market advisory services to our global clients. CS is increasing its business presence in China and has made numerous strategic market professional hires whilst additionally undertaking strategic joint ventures. Credit Suisse has entered into a joint venture in Aug 2010 with ICBC to form ICBC Credit Suisse Asset Management Co. It raised more than RMB 14 bn ($ 2.1 bn) in Chinas biggest bond fund ever called The ICBC Credit Suisse Double Profit Bond Fund. The fund invests in domestic Government debt, Corporate bonds, short term bills and RMB denominated Convertible Notes and is popular with investors sidestepping a weak stock market. Credit Suisse has also entered into a joint venture with Founder Securities Ltd, the first securities JV approved by the Ch inese regulators since new guidelines were put in place in December 2007. The JV was launched with less than 50 staff but has doubled its head count in less than one year with further plans for expansion, betting on a healthy pipeline to underwrite debt and equities offerings, IPOs and MAs in Chinas domestic market. For the nine months ending 30/9/10 Credit Suisse has been involved in 11 MAA deals with a total volume of US$10.443bn, a market share of 8.8% and an overall financial institutions ranking of 4th (Bloomberg). Credit Suisse Private Banking has increased its headcount hire of high calibre Private Bankers to take advantage of the rapidly rising number of affluent households. It is estimated that nearly 1 million Chinese households have financial assets exceeding US 1m. Chinas savings rate of appx 55% of GDP lacks competitive and efficient financial services for investments growth. China is the third-largest wealth generator in the world, with USD 16.5 trillion in total ho usehold wealth and is behind USs 54.6 trillion and Japans 21.0 trillion but could rise 111% to USD 35 trillion by 2015 overtaking Japan to become the second highest in the world if growth continues. Credit Suisse is looking to open new offices in China and will leverage further its dominance with good infrastructure and foundation to build up the Private Banking business, noting at the same time the challenges that come with it in terms of OECD tax treaty, cross-border restrictions and the hiring of experienced talent. As CEO, as much as there is huge growth opportunities for the Banks to increase our global presence in China to achieve bigger revenues for our shareholders, we must ensure that optimal service levels to our clients needs are maintained and to have a rigorous infrastructural, operational, capable resources and a strong regulatory frame-work to adapt to the cultural differences, regulatory policy changes in China and market forces. There is a need prepare ourselv es on some of the risk and challenges if the RMB revalues and the eventual Internationalisation of a fully convertible currency. Risks and Challenges should the RMB revalue or appreciate Foreign exchange risk management and mitigation will be key. A platform to better match payables and receivables minimizing FX risks and costs associated with potential currency mismatches and on Corporate Earnings from US to CHF should RMB devalues Ensuring first class regulatory risk management systems and highly qualified staff Agility in responding to local regulatory changes and market forces due to large revaluation impacting domestic companies and sectors that Credit Suisse has exposure to. Meet the regulatory minimum Capital adequacy and comply to new Basel III standards Significant revaluation impacting Chinas export growth resulting in high unemployment and social unrest. Competition for Foreign Banks particularly if they are constrained in their loan growth or find it difficult to obtain approval to open new branches. Cultural barriers and the challenges of attracting, training and retaining good calibre individuals given the increased competition for e xperienced professionals and the possibility that a number of local market professionals will inevitably be lured back to the Domestic Banks as local financial institutions become more competitive in terms of capabilities, career prospects and remuneration The Chinese market for Private Banking is still immature and strictly regulated. It will take much time and effort to educate various parties including clients. Associated costs involved in increasing the presence in China such as office accommodation, personnel, infrastructure etc and the uncertainty as to how soon such an operation will become profitable against a backdrop of fierce competition.

Professionalism as It Is

There is no such a writer, who would not want to have a high salary and nice reputation among customers. Still, for some reason, most writers get to write orders with low prices only and clients do not fight for them to write their assignments. Only a few lucky ones get to the level of the well-being others can only dream of. Why do some people have everything, while others gain almost nothing? It definitely does not depend on whims of fortune. It depends on whether people have qualities, professionalism being the most important one. Nowadays as ever before professionalism is something customers are willing to pay for. Do you know why? Because professionals are never late. They value their own time as well as time of their customers. When working with a professional, the client can be sure, that his order will be delivered on time, without any delays. That means, that this particular writer can be trusted with a hot order and that he will not let the client down. If you are reliable and have a good sense of time, you can be considered as a professional. Because professionals never deliver texts of low quality. If you realize that you will not be able to write an order qualitatively (not enough time, bad mood, health problems) – do not even start working on it. It is very important not to go easy on yourself. Do not make excuses for they will not improve mistakes in the text your customer will get if you don’t work hard enough. Every single order influences your reputation, bear it in mind. Because professionals are always polite. Even when it seems like your customer has completely lost his mind, do not be rude. Rage never got anyone anywhere. Keep your mind cool and your words courteous. Always explain yourself as polite as possible, even if the client crosses the line. Being polite doesn’t mean agreeing with every nonsense your customer says though. It means defending your rights and your point of view, but without use of strong language. Finally, professionals are respected and valued because they think they deserve it. They know their price. Professionals are hard-working, but they would not work hard for nothing. Such writers make a proper research, choose words for text thoroughly, proofread their essays – but they want a decent reward for it. And they get it, because they would rather write one large and complicated order with a relevant price, than many small cheap ones that do not require high quality of writing skills. So value yourself, become a professional. PS. And what â€Å"professionalism† mean to you? Share your ideas!

The Motivations And Satisfaction Of Lic Students Essay

To investigate the motivations and satisfaction of LIC students when studying in the UK Introduction There is a prevalent trend of students going abroad for further study in the UK. In fact, the UK has become the second most common option for overseas students to study which is just behind the United Stateï ¼Ë†King et al., 2010). According to the data from UK Council for International Student Affairs (UKCISA) (2015), 19 percent of the students in the UK are from abroad. Studies have shown that oversea study experience can help students improve English proficiency, gain cultural experience, enhance individual competency, construct self-consciousness and notional consciousness, embrace diversity, and promote the sense of responsibility (Rhodes et al., 2012). As there are many benefits of overseas study, it is significant for the UK government and universities to understand the motivations of international students when they decide to study in the UK as well as the degree of satisfaction of their learning experience, so that they are able to realize their attractions and weaknesses. In particular, for Liverpool International College, this research will be able to give the college managers insight into the factors appealing to oversea students and then optimize its performance. For students, it can help them prepare before departing from their origin countries and adapt quickly to the UK courses. The objectives of this research are: To determine the motivations of LIC studentsShow MoreRelatedIntroduction And Design Of The Study3406 Words   |  14 PagesINTRODUCTION The human resource is considered as the backbone of any economic enterprise i.e., public, private or corporate. 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The term â€Å"human resource†Read MoreA Project Report on Study of the Axis Bank Its Financial Services and Consumer Perception of Its Services.12807 Words   |  52 Pagesfor the award of Master of Business Administration in (Finance) is a record of original work done by me under the supervision of Mr.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. of †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã ¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Enrolment No.: 2209370009 Date: 03-05-2011 Signature of the Student CONTENTS CHAPTER I ïÆ'Ëœ CORE BANKING SOLUTION (CBS) ïÆ'Ëœ REAL TIME GROSS SETTLEMENT SYSTEM ïÆ'Ëœ ATM DEBIT CARDS ïÆ'Ëœ INTERNET BANKING SERVICES ïÆ'Ëœ CHEQUE TRUNCATION ïÆ'Ëœ EASYACCESS SAVINGS ACCOUNT ïÆ'Ëœ PRIME SAVINGS ACCOUNT ïÆ'Ëœ SALARY SAVINGS ACCOUNTRead MoreAnalysis of Recruitment Selection Strategies of Icici Prudential Life Insurance Ltd.10344 Words   |  42 Pagesright job, which reflects some of the unique ways for recruiting the candidates to fill up various vacancies. 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Dracula Bram Stoker Essay Example For Students

Dracula Bram Stoker Essay Bram Stoker creates suspense in Jonathan Harkers first diary entry by his description of the scene. An atmosphere of dread, fear and the unknown can be felt when reading the passage. Dusk is the time of day where you can imagine all sorts of creepy things happening. The sun setting behind the mountains give the appearance of moving shadows. The passengers felt so afraid of their surroundings that they crossed themselves. Jonathan feels unsure about the excitement he sees from the other passengers, which cant, be explained. Draculas appearance is mystical. The writer begins to build suspense when Jonathan Harker describes the shadows of the evening. He creates an atmospheric effect by saying they creep around us. This gives the awareness that the night is coming and like a person or animal is stalking them. From the opening lines of his diary I think Jonathan is feeling uncomfortable.  Bram Stoker begins to build tension when Jonathan Harker describes by the roadside were many crosses. He creates a scene of darkness and dread. I think this gives the effect that Jonathan is nervous in his surroundings. The writer begins to build anxiety when Jonathan describes The Ghost-like clouds. He creates a Ghost like illusion by saying the falling sunset threw into strange relief the ghost-like clouds. I think this gives the impression that Dracula is playing with his mind.  From reading the book you get the sense of the behaviour of the passengers as we swept by, my companions all crossed themselves the scene the writer create is of dread. The passengers can feel the tension that all is not right but they are afraid. They call upon the cross as away of helping them to get through the night. I think that this gives the feeling that the passengers are afraid of what they might encounter. Bram Stoker continues to build suspense when Jonathan says, when it grew dark there seemed to be some excitement amongst the passengers. The passengers are persuading the driver to go faster to leave the area quicker the figures of my late companions crossing themselves. I took this to mean that the passengers are afraid of Dracula. Like the passengers are begin to fear Dracula before we even see him.  Bram Stoker starts to build anxiety when Jonathan describes, one by one several of the passengers offered me gifts. This suggests that the passengers turned to their religion in order to keep them safe and to protect them from evil by offering Jonathan the cross they hoped it protect him from the evil. When Jonathan describes his feelings I felt a strange chill, and a lonely feeling came over me. This produces anxiety and tension I felt a little strange, and not a little frightened. I think this gives the impact that Jonathan is beginning to feel fear of the unknown situation that he is in.  Another example of tension is when Jonathan describes. I would have liked to asked the driver what it all meant. I think Jonathan is beginning to question the strange things that are happening around him. By saying I really feared to do so. Jonathan gives the impression that he is petrified of the driver. As they drive nearer to Draculas castle Jonathan describes from the mountains on each side of us began a louder and a sharper howling that of wolves. This shows that just the sounds of wolves increase Jonathan feelings. His first reaction is to flee and hide by saying I was mined to jump from the catches and run. Reading further into the story there is further into the story there is further evidence of Jonathan fear increasing when he meets the wolves face to face. He paralysed with fear. The appearance of the wolves make him realise that the sight of them is more terrifying then anything he could image wolves, with white teeth and lolling red tongues, with long, sineivly limbs and shaggy hair. .u41344ef178900bef28c3aefee358c7da , .u41344ef178900bef28c3aefee358c7da .postImageUrl , .u41344ef178900bef28c3aefee358c7da .centered-text-area { min-height: 80px; position: relative; } .u41344ef178900bef28c3aefee358c7da , .u41344ef178900bef28c3aefee358c7da:hover , .u41344ef178900bef28c3aefee358c7da:visited , .u41344ef178900bef28c3aefee358c7da:active { border:0!important; } .u41344ef178900bef28c3aefee358c7da .clearfix:after { content: ""; display: table; clear: both; } .u41344ef178900bef28c3aefee358c7da { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u41344ef178900bef28c3aefee358c7da:active , .u41344ef178900bef28c3aefee358c7da:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u41344ef178900bef28c3aefee358c7da .centered-text-area { width: 100%; position: relative ; } .u41344ef178900bef28c3aefee358c7da .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u41344ef178900bef28c3aefee358c7da .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u41344ef178900bef28c3aefee358c7da .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u41344ef178900bef28c3aefee358c7da:hover .ctaButton { background-color: #34495E!important; } .u41344ef178900bef28c3aefee358c7da .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u41344ef178900bef28c3aefee358c7da .u41344ef178900bef28c3aefee358c7da-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u41344ef178900bef28c3aefee358c7da:after { content: ""; display: block; clear: both; } READ: The novel Reading in the Dark EssayThe best way that the writer builds tension is when Jonathan describes Dracula appearance the lamp light fell on a hard looking mouth, with very red lips and sharp looking teeth, as white as ivory. This gives a dramatic effect because Jonathan doesnt know that the cache driver is Dracula and he is stunned when he sees the drivers face.  The way Dracula controls the horse adds to Jonathan unease. He petted and soothed them, and whispered something in their ears. After being frightened by the noise from the wolves, the horses became agitated and unmanageable, but a few quietly spoken words by Dracula were enough to calm them down. I have heard of horse tamers doing this and with extraordinary effect. Jonathan, to me is trying to understand what he has just seen. A lot of unusual events seem to be happening to Jonathan, which he is having a lot of trouble making sense of. When the driver (Dracula) had left them the horses began to tremble. Jonathan could sense the horses fear. Jonathan has noticed that the driver has had this effect on the wolves also, as he swept his long arms as though brushing aside some impalpable obstacle, the wolves fell back and back further still. To Jonathan, the driver seems to be controlling the surroundings that he has found himself in. because Jonathan is more terrorized than ever before bring about a real strong sense of suspense to this story, which the writer Bram Stoker intended to do.  Bram Stoker has crated suspense in this diary entry by the words he uses and the scenes he has described. And especially the detailed description of the first encounter with Dracula.

Successful Marriages Essays - Philosophy Of Love, Family, Marriage

Successful Marriages Successful Marriages For any marriage to be successful there are certain changes a man and woman have to make. They have to be flexible and open and ready for new experiences and ways of living. Marriages can be successful or unsuccessful based on many different aspects of it. Four important concepts that are definitely part of the whole marriage life are: children, conflict resolution, outside influences, and communication. Children may be the biggest change to a married couple. From going from just the two people, doing whatever they want, whenever they want, to staying home and taking on the responsibilities of taking care of children is a big step. Gone is the freedom of leaving at the spur of the moment to catch that new movie that just came out, eating what they want, when they want, buying whatever they want, and sleeping in until noon. The average number of children for parents completing my survey was two. Everyone knows that raising children is very stressful, but because of the different ages of the parents, and the children, I could not get facts on which years were the toughest. Most parents whose kids are well into their 20's or so, say that the most stressful years for them were the teenage years. Children that are toddlers are said to be less stressful then when they were infants. It varies for everyone, and from my surveys I got no facts, just opinions. Children are a big responsibility and cause a lot of stress for parents. Out of 30 people, 96% say that their children have been a cause for an argument at least one time throughout their marriage. This could occur for many reasons; one being that it is very expensive to raise children and parents would have to agree on what is necessary for their children to have or things that are just nice to have. They must agree to what their priorities are and each pa rtner would have to adjust. Also parents might feel differently about ways of disciplining their children, which usually causes them to argue. Every couple has their own ways of resolving their problems throughout their marriage. Constant conflict can destroy a marriage. Learning how to deal with the conflict to achieve a win/win situation for both partners is very important. When couples disagree, the 30 people that I surveyed said that the woman gives in 65% of the time. A reason for this could be that women were taught to be passive and let things go a lot easier than men. They do not want provoke their partner and then start another argument. They think it is easiest to just give in even if they know they are right. Sometimes the only reason the women gives in is that she is just too tired from working, taking care of the children and the house and feels it would be easier to give in and let it go. This is only a short-term solution. Men on the other hand have to keep their stand and be the king. They cannot give in; it would ruin their status. They have to prove they can not be stood up to. When a married couple are in an argument, 78% say they talk it out after calming down. It usually does not solve anything when couples fight because each person does not listen to the other person's perspective. They are yelling at each other so they each think they are right and become stubborn. By talking it out, you can hear both sides of the story and come up with a compromise. Couples fight for many different reasons, but from my surveys I found the main reason for fighting was children. 60% say they argue about their children. 46% say they argue about chores. 43% say they argue about money. And lastly, 23% say they argue about work. These problems may interconnect with each other. For example, most people are very stressed at work, especially during these times when most companies are decreasing their staff and those th at remain are taking on additional responsibilities. After a hard day at work they come home and half to start all over by picking the kid up

Board of Directors

Board of Directors Introduction The success or failure of any organization or company totally depends on its leadership. There are different levels of leadership in any organization and the board of directors plays a very important role in the running and management of any organization. Different organizations have different roles of the board of directors but generally there are basic foundation roles that apply to all the organizations.Advertising We will write a custom research paper sample on Board of Directors specifically for you for only $16.05 $11/page Learn More This paper discusses the different roles of the board of directors and how competence can be developed as well as the various differences between board of directors in the private sector and non-profitable organisation. Ideal relationship between the board of directors and the executive is also discussed. Board of directors The main role of the board of directors in any company or organization is to act as the eyes of the shareholders of the organization. A report by Brefi (2000) claimed that any given board of directors has a role: â€Å"to ensure the companys prosperity by collectively directing the companys affairs, whilst meeting the appropriate interests of its shareholders and stakeholders† (Brefi, 2000, p. 2). The board of directors is usually appointed by the shareholders who also have the powers to dismiss it mainly through a vote. The board of directors has different roles that vary from one organization to another. Oversee vision, mission and values of the organization It is the primary role of any board of directors to oversee that the Organization focuses at achieving its vision, mission, and values by continuous evaluation of the organization progress. They have the responsibility of determining values to be upheld and constantly review goals and objectives of the Organization. They are also supposed to set and follow up the implementation of policies in the Organiza tion. A report by Gray (n.d.) was claimed that: â€Å"Directors, no matter what their reason for being elected to a board, are responsible for making decisions and setting policy for the organization† (Gray 1). Carter McNamara (2011) defined the roles of the board of directors as â€Å"oversee the purpose, plans and policies of the overall organization, such as establishing those overall plans and policies, supervision of the CEO, ensuring compliance to rules and regulations† (McNamara, 2011, p. 1).Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Set strategy and structure It is the role of the board of directors to constantly do the SWOT analysis of the Organization in terms strengths, weaknesses, opportunities and threats in the current and future situations to ensure the Organization retains its relevance in the society. It also sets strategies, and ways of achieving them. Most importantly they should the Organization has the necessary Organizational structure and the potential for carrying out the laid down strategies. A report by Score (2011) claimed that the board of directors has the role of â€Å"developing and approving strategic plans, including major commitments† (Score, 2011, p. 1). Delegation It is important to note that the board of directors cannot do or perform all the activities of their Organization alone and as such the board had an important role of delegating all the necessary authorities to other different levels of management beginning with the chief executive officer (CEO). McNamara claimed that it is the role of the board of directors to â€Å"Select and appoint a chief executive to whom responsibility for the administration of the organization is delegated, including: to review and evaluate his/her performance† (McNamara, 2011, p. 1). Accountability to shareholders The board of directors is the e yes and the voice of the shareholders and other stakeholders and as such it has the role of ensuring that the interests, views and expectations are represented in the Organization by effective communication between the management and the shareholders (Brefi, 2000). A report by McNamara also claims that the board of directors must be in a position to â€Å"provide for fiscal accountability, approve the budget, and formulate policies related to contracts from public or private resources† (McNamara, 2011, p. 1) Board competence For a board to be successful it must be competent. The members must be poses strong interpersonal skills, must be well versed about the various operations of the Organization, they must always be available when needed and must be people of honor and integrity.Advertising We will write a custom research paper sample on Board of Directors specifically for you for only $16.05 $11/page Learn More Loyalty to the Organization is a requ irement and the members must also poses diverse global knowledge in various fields such as law, finances which will enable the board to make good decisions. Competence in the board may be developed by proper recruitment of the right individuals to start with. Rigorous and continual training should be prioritized. It may also be advisable to keep on renewing the board from time to time to inject new ideas and dynamism. Martinelli (2011) raised concern that â€Å"nominating committee or board recruiting committee is poorly organized, board members in turn are not likely to have a good understanding of the organization and their role as board members†( Martinelli, 2011, p. 1). Relationship between the board and executive For any meaningful achievement of goals and objectives of any Organization the board of directors and the executive must work together in harmony as a team. Good relationship between the two is therefore imperative. The board of directors must have the will and commitment of understanding all the important details that concerns the Organization since they may be required to make tough, and wise decisions that the executive needs to drive the Organization to the expectations of the shareholders the directors represent. The executive expects the board members to adequately prepare and regularly attend meetings while board of directors expects service delivery and regular briefing in return. Both sides expect full and genuine participation from each other. Collective commitment to teamwork and improvement is also important (Kilmister, 2004). Differences between private sector and non-profit boards The basic roles of both private and non-profit organizations are similar to some extent but on a close analysis there are many differences between the two which generally arise from their purpose of existence. Private board members set the strategies and standards to be met and delegate the task of achievement to the executive unlike non-profit boar d members who are directly involved in raising funds for the organisation. Private sector board members are paid whereas non-profit board members are only reimbursed of their expenses. Private sector board members focus on maximising shareholders investments and have to account for returns unlike non-profit board members who focus on fundraising funds from relevant bodies and focussing their activities to charity affairs (McNamara, 2011, p. 1).Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Conclusion The role of board members plays a key role in the success of any given Organization. The roles include representing the interests of the shareholders in the Organization, making and implementing vision, mission and core values of the Organization and setting and following up on strategies. Competence is a core requirement and the board members are supposed to be knowledgeable people of high integrity. The board members of nonprofit and private Organizations have differences due to the differences in the functions of the Organizations. The relationship between the executive and the board members is important in that it ensures cooperation and understanding of both parties for the benefit of the organization. References Brefi, G. (2000). The Board of Directors – Roles and Responsibilities. Brefigroup. Web. Gray, C. (n.d) Ethical Responsibilities of Boards of Directors of Non-Profit Organizations. Board Responsibilities. Web. Kilmister, N. (2004). Eight Basic Expectat ions a Chief Executive Has of His or Her Board. TCA. Web. Martinelli, F. (2011). Building an Effective Board of Directors. Create the Future. Web. McNamara, C. (2011). All about Boards of Directors (For-Profit and Nonprofit). Management help. Web. Score, K. (2011). Serving on a Nonprofit Board of Directors. ScoreKnox. Web.

MEMORY ABOUT FAMILY Essay Example | Topics and Well Written Essays - 750 words

MEMORY ABOUT FAMILY - Essay Example My sister would parade around like some kind of prima donna plucked from the cover of Sports Illustrated while my mom ran around the house like she was preparing for the second coming of Christ. Their eyes would avert mine as I would sink into a lonely corner where no one cared to go. My sister and mother would make it to the car to be sure they would be on time, and I would always be dragging behind, reluctant and resistant. All the other families on the block had boys that played Little League with fathers that played catch. Not ours. Thanks to my mother, my father was 1000 miles away and I didn't have any brothers. In her twisted mind, my mother was fulfilling the father role by turning my little sister into a sports jock. As the car started to back out of the drive I thought to myself, "I'm more athletic than that chiffon Barbie doll in the front seat that my mother was dressing up in a softball uniform. My sister couldn't bat her way out of a bad movie". Yet, maybe because she was the baby of the family, she was the chosen one. My mother had suddenly become an authority on baseball and as she screamed from the bleachers, bolstered by vodka and Valium, it was I that was embarrassed. I turned away from the haughty glances of the softball moms that had gathered together to giggle and dispense their snide remarks. Every game would make me wonder if they were snickering at my mother or me. Was my misfortune the object of their entertainment By the fifth inning, my sister was hitless and my mother was missing. I spotted her behind the concession stand sneaking into her purse to top off her drink. I again sensed a wave of laughing and whispering. The icy stares of the 'good moms' sliced through my back. I just wanted to go home and hide. The only bright spot of the day came when my sister struck out in the bottom of the seventh inning to end the game. That meant that the torture was over. There would be no more false cheers, no tittering gossip, and no pretending that everything was OK. My sister was silent as my mother staggered back to the car. "I'll drive," I said. Though I was old enough, I didn't have a driver's license. I had no adult to take me to get the necessary permits. Driving was one more thing that my mother didn't allow me to do. I couldn't play sports, music lessons were too expensive, and driving was out of the question. My mother wouldn't even let me date any boy that had a car. "Oh, well," I thought, "Who needs 'em. I've gotten along this far without a man in my life. What's a few more years." As we began the short drive home, my mother kept criticizing my driving. "Stay on the road," she yelled. "Watch that car." My mother was irritated with my sister for going 0 for 3 in the game and she was taking it out on me. My patience had outlived its useful life. "If you weren't so careless I wouldn't have to drive. You're the most irresponsible person I've ever met and I've known some real losers," I snapped. "How dare you talk to me like