Crm in Hdfc Standards Life Insurance Essay Example

Crm in Hdfc Standards Life Insurance Essay CLAUSE 49 AN ANALYSIS 3RD Directors’ Leadership Programme Organised by Centre for Corporate Governance Indian Institute of Management, Calcutta December 14, 2007 Dilip Kumar Sen CLAUSE 49 OF LISTING AGREEMENT WITH STOCK EXCHANGES INTRODUCED BY SEBI WEF 1ST APRIL 2000 BASED ON BIRLA COMMITTEE RECOMMENDATIONS SIGNIFICANTLY REVISED FROM 1ST JANUARY 2006 BASED ON PROPOSALS OF MURTHY COMMITTEE- CLAUSE 49 OF LISTING AGREEMENT WHICH APPLIES TO ALL LISTED COMPANIES HAS BEEN ONE OF THE MOST TALKED ABOUT ISSUE. AFTER THE CLAUSE WAS FIRST INTRODUCED BASED ON THE PRACTICE FOLLOWED IN DEVELOPED COUNTRIES AND ALSO KEEPING IN MIND THE OECD PRINCIPLES ON CORPORATE GOVERNANCE THE CORPORATE WORLD HAS WITNESSED THE ENRON FIASCO AND THE ENACTMENT OF SARBANES OXLEY ACT IN THE USA . ARTHUR ANDERSEN THE AUDITORS OF ENRON WAS FOUND GUILTY BY THE US JURY ENRON IS JUST AN EXAMPLE – THERE WERE MANY OTHER LARGE CORPORATES WHERE INVESTIGATIONS HAD REVEALED HOW INFLATED EARNINGS WERE REPORTED AND HOW FINANCIAL REPORTINGS WERE MANIPULATED. SOX ACT WHICH IS CONSIDERED AS A TOUGH ACT AIMED TO PLUG THE LOOPHOLES AND REQUIRED THE CORPORATES TO STRICTLY FOLLOW THE REQUIREMENTS OF THE ACT. OUR CG REQUIREMENTS HAVE BEEN REVISED KEEPING IN MIND SOME OF THE PROVISIONS OF THE SOX ACT EVEN THOUGH WE ARE SOMEWHAT LENIENT . A FLAVOUR OF A FEW ONEROUS CLAUSES OF SOX ACT ARE: 1. Section 201- List of services outside the scope of Auditors – Auditors cannot provide services such as Book keeping, financial information system design/implementation, internal audit, actuarial , valuation, investment adviser, expert srervices unrelated to audit etc. we still do not have any such prohibition 2. SECTION 302- CEO/CFO CERTIFICATION OF FINANCIAL STATEMENTS and review of internal control system and its deficiencies This requirement has been incorporated in clause 49 but an important requirement i. e. evaluation of the effectiveness of internal control systems as of a date within 90 days prior to the reporting date has not been adopted. Als o in India CEO/CFO need to certify only annual financial statements and quarterly statements are still not required to be certified 3. 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Section 409 – Real time disclosure on material changes in financial condition or operations- disclosure to be made in a manner easy to understand 7. Section 802- Penalties by way of fines and imprisonment upto 20 years for altering, falsifying, manipulating records/documents CERTAIN BASIC REALITIES ON CG 1. LEGISLATION/REGULATIONS PER SE CANNOT AND PERHAPS WILL NEVER BRING IN GOOD GOVERNANCE 2. CG IS ALWAYS A TOP DOWN PROCESS 3. ORGANISATION CULTURE AND THE MINDSET OF THE PERSONS AT THE HELM OF IT ARE KEY TO ACHIEVING EXCELLENCE IN CG 4. BOARD ROOMS ARE NOT MEANT TO BE PLACES WHERE ONLY GOOD NEWS ARE TO BE MENTIONED. IT IS IMPORTANT IN MY VIEW TO SHARE WITH THE BOARD ALL BAD NEWS AT THE EARLIEST OPPORTUNITY WITHOUT CREATING ANY PANIC 5. INDEPENDENCE OF A DIRECTOR CAN NEVER BE ENSURED BY LEGISLATION – WHAT MAY WORK IS PERIODICAL TRAINING AND EDUCATION OF DIRECTORS A DIRECTOR WHO OSSESSES AN INDEPENDENT MIND IS MOST LIKELY TO FUNCTION INDEPENDENTLY EVEN IF LEGALLY HE IS NOT INDEPENDENT –DO WE LOOK FOR A TECHNICALLY INDEPENDENT DIRECTOR WHILE FILLING IN A VACANCY ? WHY DOES POST ANY ACQUISITION WHEN BOARD IS RESTRUCTURED THE ERSTWHILE IDs ALSO STEP DOWN 6. ARE BOARDS SUPPOSED TO INTERVENE IN TIMES OF CRISIS ONLY? DECISIONS HOWSOEVER UNPLEASANT IF NOT TAKEN TIMELY WOULD ONLY ADD TO COST AS TIME REQUIRED FOR CORRECTIVE ACTIONS WILL BE LONGER ! 7. IN THE ERA OF CG ARE THE DAYS OF FRIENDLY AUDITORS ON THEIR WAY OUT ! DO WE WITNESS A CHANGE IN APPROACH AND ATTITUDE OF AUDITORS ? WHAT IS CG AND WHY DO WE NEED CORPORATE GOVERNANCE CORPORATE STRUCTURE 1. SEPARATION OF OWNERSHIP AND MANAGEMENT 2. COMPANY IS AN ARTIFICIAL PERSON IN THE EYE OF LAW AND CAN ACT ONLY THROUGH AGENTS 3. DIRECTORS OF A COMPANY ARE THEREFORE AGENTS FOR THE COMPANY 4. DIRECTORS OCCUPY A FIDUCIARY POSITION AND ARE EXPECTED TO ACT IN GOOD FAITH IN THE INTEREST OF THE COMPANY. 5. DIRECTORS ARE NOT TRUSTEES IN THE STRICT SENSE OF THE TERM THOUGH THEY MANAGE SHAREHOLDERS’ FUNDS THESE ARE SOME OF THE CARDINAL PRINCIPLES ON WHICH CORPORATES OPERATE. IN OUR COUNTRY WE ALSO FIND LARGE NUMBER OF CORPORATES MANAGED BY FOUNDING FAMILIES. THERE APPEARS TO BE AN IMPLICIT ACCEPTANCE THAT CORPORATE ENTITIES BELONG TO THE FOUNDING FAMILIES . EVEN WHEN THE SHAREHOLDING/VOTING POWER OF THE FOUNDERS IS LESS THAN ONE-THIRD OF PAID-UP CAPITAL THEY CONTROL THE BOARD AND MANAGEMENT. Clause 49 contains a series of Mandatory items and seven non mandatory items which are to be followed by Listed companies. Mandatory items include 1. Board composition – Definition of Independent director – Code of conduct for board members and senior management and affirmation of compliance thereof –Review of legal compliance –Disclosure of remuneration of non executive directors – restriction on membership of board committees – board to meet at least 4 times a year 2. Audit committee- Minimum 3 directors as members with two-third as IDs-All members to be financially literate and at least one member must have expertise on accounting or financial management –Chairman to be an ID-must meet at least 4 times a year has wide powers to investigate any matter and can obtain outside legal advice – Role of the committee and review of information by it 3. Subsidiary companies – One ID of holding company to be on the board of material non-listed Indian subsidiary – Audit committee of holding company to review financial statements of subsidiaries including investments made – board meeting minutes of subsidiary companies to be placed before the board of holding company. 4. Disclosures – Disclosures on Related Party transactions, Accounting treatment if different from what the Standard prescribes- Risk assessment and minimisation procedures – use of proceeds from public issues/rights /preferential issues – Remuneration of Directors –Management discussion and Analysis report – disclosure by Senior management to the board relating to their interest in all material commercial and financial transactions- disclosure to shareholders on particulars of directors seeking appointment/reappointment –quarterly results and presentation to analysts to be hosted on web site – to form a board committee under Chairmanship of a NED to redress shareholders grievances etc 5. CEO/CFO certification of annual financial statements 6. Quarterly report on compliance of CG norms to be submitted to SEs 7. Annual report to contain CG report as per prescribed format which is to be certified by Auditors NON MANDATORY ISSUES 1. MAINTENA NCE OF CHAIRMAN’S OFFICE 2. REMUNERATION COMMITTEE TO BE FORMED WITH ONLY NON-EXECUTIVE DIRECTORS AND CHAIRMAN OF THE COMMITTEE TO BE AN INDEPENDENT DIRECTOR 3. HALF YEARLY FINANCIAL RESULTS INCLUDING SUMMARY OF SIGNIFICANT EVENTS IN THE SIX MONTHS TO BE SENT TO ALL SHAREHOLDERS 4. Companies should move to a regime of unqualified audit report on financial statements 5. Companies may train its board members on business model of the company, its risk profile, responsibilities of directors and the best way to discharge them 6. Evaluation of performance of Board members – Peer group evaluation of performance of non executive directors could be the mechanism to determine whether to extend or continue the terms of appointment of non executive directors 7. Whistle Blower Policy – The company may establish a mechanism for its employees to report concerns about unethical behaviour, actual or suspected fraud, or violation of company’s Code of Conduct . The mechanism should provide adequate safeguards against victimisation of employees who avail the mechanism and also provide direct access to the Chairman of Audit committee in exceptional cases. WHAT THE GOVERNMENT HAS DONE SO FAR TO IMPROVE CG UNLIKE SOUTH EAST AND EAST ASIAN COUNTRIES THE DRIVE FOR BETTER CORPORATE GOVERNANCE AND DISCLOSURE IN INDIA DID NOT START BECAUSE OF ANY MAJOR FINANCIAL COLLAPSE. INITIAL DRIVE INDEED CAME AS A CONSEQUENCE OF LIBERALISATION AND GLOBALISATION OF THE ECONOMY AND THE ONSET OF INTERNATIONAL COMPETITION. NO DOUBT DEMANDS FOR BETTER NORMS ON CG WERE MADE FOLLOWING THE HARSHAD MEHTA SCAM, KETAN PARIKH SCAM, UTI SCAM, CR BHANSALI SCAM , VANISHING COMPANY SCAM , STAMP PAPER SCAM ETC. GOVERNMENT HAS REACTED STRONGLY BY PRESCRIBING MANY STRINGENT CG REQUIREMENTS BUT UNFORTUNATELY WE SEE A WIDE GAP BETWEEN PRESCRIPTION AND PRACTICE. GIVEN BELOW IS A LIST OF SOME OF THE ACTIONS THAT THE GOVERNMENT HAS ALREADY TAKEN 1. INCREASING VERY SUBSTANTIALLY THE POWERS AND FUNCTIONS OF SEBI INCLUDING RIGHT OF INSPECTION OF BOOKS AND RECORDS OF ANY LISTED COMPANY , POWER TO SUSPEND TRADING OF ANY SECURITY,POWER TO RESTRAIN ANY PERSON FROM ACCESSING THE SECURITIES MARKET,POWER TO CARRY OUT INVESTIGATION INTO THE AFFAIRS OF ANY PERSON OR MARKET INTERMEDIARY, ENORMOUS INCREASE IN THE AMOUNT OF PENALTY(MAX. PENALTY CAN NOW BE RS. 25 CRORES OR THREE TIMES THE PROFIT MADE ON SECURITIES TRANSACTIONS) ETC. SEBI HAS ALSO PRESCRIBED MANY REGULATIONS ON DISCLOSURE TAKEOVER, CODE OF CONDUCT ETC. 2. AMENDING THE COMPANIES ACT TO PROVIDE FOR ISSUES LIKE DIRECTORS RESPONSIBILITY STATEMENT, ADHERENCE TO ACCOUNTING STANDARDS, SETTING UP OF NATIONAL ADVISORY COMMITTEE ON ACCOUNTING STANDARDS, DIRECTORS DISQUALIFICATION UNDER CERTAIN CIRCUMSTANCES, MANDATORY REQUIREMENT OF AUDIT COMMITTEE FOR PUBLIC COMPANIES WITH PAID UP CAPITAL OF RS. 5 CRORES OR MORE, PASSING OF CERTAIN RESOLUTIONS ONLY THROUGH POSTAL BALLOTS ETC. 3. INCREASING THE SITTING FEES OF NON EXECUTIVE DIRECTORS 4. SETTING UP OF NARESH CHANDRA COMMITTEE TO ANALYSE AND RECOMMEND CHANGES RELATING TO ISSUES LIKE AUDITOR-COMPANY RELATIONSHIP, ROTATION OF AUDITORS,RESTRICTION ON NON-AUDIT SERVICES, INDEPENDENCE OF AUDIT FUNCTION, ROLE OF INDEPENDENT DIRECTORS, CERTIFICATION OF ACCOUNTS BY CEO/CFO, SETTING UP OF AN INDEPENDENT REGULATOR LIKE PUBLIC COMPANY ACCOUNTING OVERSIGHT BOARD ETC. 5. SETTING UP OF KUMARMANGALAM BIRLA COMMITTEE BASED ON WHICH CG NORMS WERE INTRODUCED IN THE LISTING AGREEMENT 6. SETTING UP OF IRANI COMMITTEE FOR RECOMMENDING A THOROUGH REVIEW OF THE COMPANIES ACT 1956 7. SETTING UP OF MURTHY COMMITTEE TO REVIEW THE EXISTING CLAUSE 49 OF LISTING AGREEMENT AND SUGGEST CHANGES 8. DISCLOSURE THROUGH WEBSITE THE QUARTERLY FINANCIAL RESULTS, CORPORATE GOVERNANCE REPORT, SHAREHOLDING PATTERN, ANNUAL REPORT, ANY PRESENTATION TO ANALYSTS ETC. 9. SETTING UP OF A COMMITTEE TO RECOMMEND CHANGES IN SCHEDULE VI TO THE COMPANIES ACT,1956 ON FORM AND CONTENT OF BALANCE SHEET AND PROFIT AND LOSS ACCOUNT 10. INTRODUCTION OF THE COMPANIES(AUDITORS REPORT) ORDER 2003 IN SUPERSESSION OF MAOCARO CARO REQUIRES THE AUDITOR TO MAKE VERY SPECIFIC COMMENTS IN THEIR REPORT ON ISSUES LIKE WHETHER FUNDS RAISED FOR SHORT TERM PURPOSES WERE USED FOR LONG TERM USE AND VICE VERSA,FAILURE TO MEET OBLIGATIONS UNDER LOAN AGREEMENT, FRAUD, WHETHER GUARANTEES GIVEN FOR BORROWINGS OF OTHER COMPANIES IS PREJUDICIAL TO THE INTEREST OF THE COMPANY ETC. 11. INTRODUCTION OF BENAMI TRANSACTIONS PROHIBITION ACT, PREVENTION OF MONEY LAUNDERING ACT ,TIGHTER REGULATIONS ON INSIDER TRADING AND REPEALING OF SICK INDUSTRIAL COMPANIES ACT. HISTORY WILL SHOW THAT SICA WAS USED BY UNSCRUPULOUS MANAGEMENT TO THEIR BENEFITINDUSTRIES BECOME SICK BUT INDUSTRIALISTS DO NOT BECOME SICK 12. RESERVE BANK OF INDIA HAS ALSO ISSUED GUIDELINES ON CORPORATE GOVERNANCE THAT THE BANKS ARE REQUIRED TO FOLLOW. SIMULTANEOUSLY APPLICATION OF ACCOUNTING STANDARDS , PRUDENTIAL NORMS ON INCOME RECOGNITION AND PROVISIONING , CAPITAL ADEQUACY NORM, NORM ON NPA ETC HAVE ALSO BEEN PRESCRIBED. 13. DECISION TO SET UP SERIOUS FRAUDS INVESTIGATION OFFICE UNDER DCA. 14. SETTING UP OF NATIONAL FOUNDATION ON CORPORATE GOVERNANCE GOING FORWARD WE EXPECT THAT THE GOVT. WILL SOON PROPOSE MAJOR AMENDMENTS TO THE COMPANIES ACT BASED ON REPORTS OF NARESH CHANDRA COMMITTEE , JPC ON SECURITIES SCAM AIMED AT INCORPORATING PROVISIONS RELATING TO INDEPENDENCE OF AUDITORS AND CORPORATE GOVERNANCE AND IRANI COMMITTEE ON COMPANIES ACT CLAUSE 49 IS ALSO LIKELY TO BE FURTHER MODIFIED SO THAT THERE IS GREATER DISCLOSURES, EASIER AVAILABILITY OF UPTODATE INFORMATION, SUBMISSION OF MUCH WIDER INFORMATION TO THE BOARD WHAT DO WE SEE IN REAL LIFE IT IS HOWEVER DIFFICULT TO COMMENT WHETHER ANY SIGNIFICANT CHANGE IN THE MANNER IN WHICH BOARDS FUNCTION HAS ALSO TAKEN PLACE. WE HAVE HOWEVER COMPANIES WHO VOLUNTARILY BENCHMARK THEIR CG PRACTICES WITH INTERNATIONAL BEST PRACTICES. THE ANNUAL REPORT OF A LEADING IT COMPANY NOT ONLY SPECIFIES COMPLIANCE WITH THE CG NORMS APPLICABLE TO AN INDIAN LISTED COMPANY BUT CONFIRMS COMPLIANCE WITH THE UN GLOBAL COMPACT PROGRAMME . IT ALSO PROVIDES SEPARATE CG REPORT FOR SIX MAJOR GEOGRAPHIES WHERE IT HAS BUSINESS INTERESTS. BUT SUCH COMPANIES ARE VERY FEW IN NUMBER. IN MY VIEW THE MOST IMPORTANT ISSUE ON GOVERNANCE IS A CHANGE OF MINDSET AND ATTITUDE. DO WE EXAMINE EVERY MAJOR DECISION FROM THE GOVERNANCE POINT OF VIEW ? EXCELLENCE IN CORPORATE GOVERNANCE CANNOT BE EXPECTED TO BE ACHIEVED OVERNIGHT AS THE PREREQUISITE IS CHANGE OF MINDSET AND ORGANISATION CULTURE BOTH OF WHICH TAKES TIME. WITHOUT THAT CG COMPLIANCE WILL REMAIN A BOX TICKING EXERCISE. WE ARE ALREADY AHEAD OF MANY OTHER COUNTRIES IN SO FAR AS REGULATIONS ON CG ARE CONCERNED. I HAVE NO DOUBT THAT IN THE COURSE OF NEXT FEW YEARS OUR STANDARD OF CORPORATE GOVERNANCE WILL IMPROVE AND HOPEFULLY IMPROVE SIGNIFICANTLY. HAVE WE CHANGED ENOUGH ON CG IN OUR COUNTRY THERE ARE COMPANIES WHERE THE CG PRACTICES GO WELL BEYOND THE REQUIREMENTS OF LISTING AGREEMENT. SOME COMPANIES VOLUNTARILY BENCHMARK THEIR STANDARD OF CG PRACTICES WITH INTERNATIONAL BEST PRACTICES. WE HAVE ONE OF THE MOST ROBUST CG NORMS FAR BETTER THAN MOST OTHER COUNTRIES. BUT IF REGULATORY REQUIREMENTS OR LEGAL PROVISIONS ALONE COULD BRING ABOUT THE DESIRED CHANGE INDIA WOULD HAVE BEEN FAR AHEAD OF OTHER COUNTRIES AS WE ARE ONE OF THE MOST LEGISLATED COUNTRY IN THE WORLD. SIMULTANEOUSLY WE ALSO FIND THAT ACCORDING TO A STUDY OF TRANSPARENCY INTERNATIONAL INDIA’S RANKING IN CORRUPTION INDEX IS NOT SHOWING SIGNS OF ANY MAJOR IMPROVEMENT. INDIA’S RANKING ON CORRUPTION INDEX UNFORTUNATELY CONTINUES TO REMAIN VERY POOR THIS MAY HAVE LOT TO DO WITH OUR PUBLIC GOVERNANCE SYSTEM WHICH IF NOT ANYTHING IS WEAK. WE HAVE VERY LARGE NUMBER OF VANISHING COMPANIES WHO ARE NOT TRACEABLE AFTER RAISING LARGE SUMS OF MONIES THROUGH PUBLIC OFFERINGS. OUR COMMERCIAL BANKS STILL CARRY VERY LARGE AMOUNT OF WHAT IS KNOWN AS NON-PERFORMING ASSETS. WE DO NOT SEEM TO HAVE AN EFFECTIVE SYSTEM OF IMPLEMENTATION OF THE REGULATIONS. UNLESS CORRUPT PRACTICES ARE EFFECTIVELY PUNISHED THERE WILL NOT BE PROPER ENCOURAGEMENT OF GOOD CORPORATE BEHAVIOUR. I BELIEVE THAT IN OUR COUNTRY FEAR OF PUNISHMENT ACTS WELL TOWARDS BETTER COMPLIANCE. IF NO ATTEMPT IS MADE TO DETECT THE VIOLATORS AND EVEN IF DETECTED THEY CAN GET AWAY REGULATIONS ON CG WILL REMAIN IN STATUTE BOOKS ONLY. ANOTHER ASPECT WHICH COULD WORK WELL IS PEER PRESSURE AMONG THE DIRECTORS. SHOULD CEOS BE EVER ALLOWED TO TAKE THE BOARD FOR GRANTED WHICH HAPPENS WHEN THERE IS INADEQUATE PARTICIPATION OR PRESSURE FROM OTHER BOARD MEMBERS PERHAPS MORE SO WHEN THE BOTTOM LINE IS SATISFACTORY ! OURS IS INDEED AN AMAZING COUNTRY ON THE ONE HAND WE HAVE PEOPLE LIKE LATE SATYENDRA DUBEY WHO LAID DOWN HIS LIFE TO PREVENT CORRUPTION ON THE OTHER HAND WE SEE INNOVATIVE SCAMSTARS WHO IDENTIFY FAULTS AND LOOPHOLES IN THE SYSTEMS AND TAKE ADVANTAGE OF THE SAME. BY THE TIME THE AUTHORITIES PLUG THE LOOPHOLES MANY SMALL AND UNSUSPECTING INVESTORS’ HARD EARNED MONEY WOULD HAVE VANISHED. AS MENTIONED EARLIER WE DO NOT HAVE ANY DEARTH OF REGULATIONS BUT PERHAPS WE LACK IN IMPLEMENTATION. ONCE THE AUTHORITIES START FOCUSSING ON IMPLEMENTATION ONE CAN EXPECT MAJOR CHANGES. VERY RECENTLY SEBI CHAIRMAN HAS OBSERVED THAT WE DO NOT NEED PEOPLE JUST TO GRACE THE BOARD – WE NEED TO SEE HOW THEY ADD VALUE TO THE BOARD. DOES FILMSTARS OR CRICKETERS ON THE BOARD ADD VALUE ? IN ALL THESE REPORTS OF VARIOUS COMMITTEES IT APPEARS THAT A KEY ISSUE HAS NOT BEEN DISCUSSED. NOWHERE ONE FINDS A DISCUSSION ON HOW A PERSON COMES TO HOLD THE POSITION OF A NONEXECUTIVE DIRECTOR OF A COMPANY. IN THE CONTEXT OF OUR COUNTRY WHERE THE POSITION OF A NONEXECUTIVE DIRECTOR IS CONSIDERED MORE AS A STATUS SYMBOL THAN A POSITION OF RESPONSIBILITY, I BELIEVE THAT A PERSON JOINS THE BOARD OF A COMPANY AS A NON-EXECUTIVE DIRECTOR UNDER ONE OR MORE OF THE FOLLOWING CIRCUMSTANCES: I)THE PERSON IS A FRIEND OF THE CHAIRMAN OR THE CEO; II)THE PERSON IS KNOWN TO THE CHAIRMAN/CEO THROUGH SOCIAL CIRCUIT OR OLD SCHOOL/COLLEGE CONNECTION OR GOLF OR OTHER CLUBS; INDEPENDENCE OF DIRECORS SEVERAL HIGH POWERED COMMITTEES HAVE CONSIDERED THIS ISSUE THOROUGHLY AND HAVE REPORTED ON IDs III)THE PERSON IS A PARTNER/SENIOR EXECUTIVE OF AN AUDIT/LEGAL OR CONSULTANCY FIRM WHICH PROVIDES AUDITING/LEGAL/CONSULTANCY SERVICES TO OTHER COMPANIES IN THE SAME GROUP ; IV)THE PERSON IS A RETIRED SENIOR GOVERNMENT OR PUBLIC SECTOR OFFICIAL AND HAD OCCASIONS TO INTERACT WITH THE CHAIRMAN/CEO DURING HIS/HER SERVICE PERIOD V)THE PERSON HAS BEEN RECOMMENDED BY ANOTHER FRIENDLY BUSINESS GROUP WHERE HE IS ALREADY A NONEXECUTIVE DIRECTOR VI)THE PERSON HAD EARLIER SERVED ON THE BOARD OF THE COMPANY AS A NOMINEE DIRECTOR AND HAD EARNED THE TRUST AND RESPECT OF THE CHAIRMAN/CEO DURING THAT PERIOD WHICH PROMPTED THE CHAIRMAN/CEO TO INVITE HIM TO JOIN THE BOARD POST HIS STINT AS NOMINEE DIRECTOR ; VII)THE PERSON IS A RETIRED SENIOR EXECUTIVE OF ANOTHER COMPANY IN THE SAME GROUP; VIII)THE PERSON IS AN ACADEMICIAN WHO HAD CONDUCTED SEMINARS AND CONFERENCES IN THE ORGANIZATION AND HAD CLOSELY INTERACTED WITH THE CEO ON MANY EARLIER OCCASIONS IX)THE PERSON POSSESSES TECHNICAL SKILLS/EXPERTISE ESSENTIAL FOR COMPANY’S BUSINESS AND THE COMPANY FREQUENTLY SEEKS HIS/HER ADVICE. WHILE THERE CAN ALWAYS BE SEVERAL OTHER REASONS FOR INDUCTING A PERSON ON THE BOARD OF A COMPANY, IN MY VIEW, TWO BASIC ISSUES ALWAYS APPEAR TO STANDOUT IN SELECTION OF A NON-EXECUTIVE DIRECTOR. THESE ARE THE PERSON MUST BE REASONABLY WELL-KNOWN TO THE CHAIRMAN/CEO AND/OR A PERSON OF REASONABLE EMINENCE; AND THE PERSON MUST, IN THE OPINION OF THE CHAIRMAN/CEO, BE TRUSTWORTHY. PRIOR RELATIONSHIP WITH CHAIRMAN/CEO IS NECESSARY TO BE INVITED TO JOIN THE BOARD NEEDLESS TO SAY THAT A PERSON JOINS THE BOARD BY INVITATION ONLY(EXCEPT FOR NOMINEE DIRECTORS). INVITATION TO JOIN THE BOARD CAN ONLY BE SENT TO THOSE PERSONS WHO ARE KNOWN TO THE CHAIRMAN/CEO AND WHOM THEY CAN TRUST. INDUCTING A DIRECTOR ON THE BOARD COULD OFTEN BE FAR LESS DIFFICULT THAN MAKING A DIRECTOR QUIT HIS BOARD POSITION. HENCE IT IS ONLY NATURAL TO EXERCISE CAUTION WHILE SELECTING A PERSON TO JOIN THE BOARD. ONE CANNOT EXPECT THAT JUST BECAUSE A PERSON IS EMINENT IN HIS/HER FIELD HE/SHE WOULD BE APPROACHED BY LEADING COMPANIES WHO HITHERTO HAD NO CONTACT WITH HIM/HER TO JOIN THEIR BOARDS. ONLY A NOMINEE DIRECTOR COULD BE AN EXCEPTION TO SUCH RULE. SEBI CHAIRMAN HAS REPORTED TO HAVE COMMENTED RECENTLY THAT SOME PEOPLE GET ON COMPANY BOARDS AND BECOME PERMANENT ENTITIES-MORE PERMANENT THAN THE FURNITURE IN THE BOARD ROOM. THIS IS A FUNDAMENTAL QUESTION AND ONE MAY RECALL THAT MURTHY COMMITTEE HAD INITIALLY RECOMMENDED THAT INDEPENDENT DIRECTORS SHOULD NOT HAVE A TENURE EXCEEDING NINE YEARS ON THE BOARD OF A COMPANY. THIS RECOMMENDATION NOW FINDS PLACE AS A NON MANDATORY PROVISION OF CLAUSE 49. INDEED OUR REGULATIONS IN CONTRAST TO UK’s REQUIREMENT DO NOT REQUIRE THE BOARD TO JUSTIFY WHY A PERSON IS CONSIDERED INDEPENDENT DIRECTOR EVEN WHEN THAT PERSON IS DIRECTOR OF THE COMPANY FOR MANY YEARS –SOMETIMES MORE THAN A DECADE. IT IS INDEED A MOOT QUESTION WHETHER LENGTH OF DIRECTORSHIP AFFECTS ONE’s INDEPENDENCE. IF YOU ARE AN INDEPENDENT DIRECTOR PLEASE CONSIDER A) IF AGENDA PAPERS WERE NOT RECEIVED WELL IN ADVANCE FOR YOU TO STUDY THEM IN SUFFICIENT DETAILS SHOULD YOU REFUSE TO ATTEND MEETINGS ? SHOULD YOU ASK CHAIRMAN TO SET A RULE THAT PLACING OF AGENDA NOTES AT THE MEETING SHOULD BE AVOIDED TO THE EXTENT POSSIBLE ? B ) HAVE YOU FAMILIARISED YOURSELF WITH THE BUSINESS MODEL OF THE COMPANY? ARE YOU AWARE WHERE COMPANY’S PLANTS ARE LOCATED AND WHAT PRODUCTS DO THEY MANUFACTURE? DO YOU KNOW WHAT ARE THE SWOT OF THE COMPANY? C ) HAVE YOU ENSURED THAT CONCERNS RAISED BY YOU AT MEETINGS ARE RECORDED IN THE MINUTES? IF NOT DID YOU TAKE UP THE ISSUE WITH THE CHAIRMAN WHEN IT FIRST OCCURRED? D)ARE YOU UP TO DATE ON YOUR KNOWLEDGE AND SKILL WITH REGARD TO COMPANY’S CG PRACTICES E ) DO YOU COME TO THE MEETINGS AFTER CAREFULLY GOING THROUGH THE AGENDA PAPERS F) DO YOU HESITATE TO ASK UNCOMFORTABLE QUESTIONS AT MEETINGS AS THAT COULD BE CONSTRUED AS BAD MANNERS MORE SO WHEN THE BOTTOM LINE IS HEALTHY? G) DO YOU CONSIDER DIRECTORSHIP AS A POSITION OF TRUST AND RESPONSIBILITY RATHER THAN A STATUS SYMBOL ? H) ARE YOU AWARE ABOUT THE RESPONSIBILITIES AND LIABILITIES OF A DIRECTOR UNDER THE COMPANIES ACT ? ARE YOU PREPARED TO RESIGN IF THE CONCERNS RAISED BY YOU ARE NOT ADDRESSED BY THE COMPANY J) DO YOU DISCUSS ANY OF YOUR CONCERNS WITH COMPANY EXECUTIVES OR OTHER NEDs BEFORE THE MEETING ? K) IF YOU ARE AN ID FOR MANY YEARS DO YOU THINK YOUR APPROACH AND ATTITUDE HAS CHANGED SINCE CG NORMS WERE PRESCRIBED ? I ? ) ii) supports executives in their leadership of the business According to the suggested best practices under the UK code an effective non-executive director i) upholds the highest ethical standards of integrity and probity hile monitoring their conduct; iii) questions intelligently , debates constructively, challenges rigorously and decides dispassionately iv) listens sensitively to the views of others , inside and outside the board; V) gains the trust and respect of other boa rd members; vi) promotes the highest standards of corporate governance and seeks compliance with the Code wherever possible Some of the significant points in the UK code on Board balance and independence are 1. Chairman and CEO should not be the same person 2. A CEO should not go on to become Chairman of the same company 3. Board should state its reasons for determining independence of a director 4. Every director should receive induction on joining the Board and should regularly update his skill and knowledge 5. Board should undertake a formal and rigorous evaluation of its own performance and that of its committees and individual directors on an annual basis 6. Any term beyond six years for a non-executive director should be subject to rigorous review and should take into account need for progressive refreshing of the Board 7. Serving more than nine years could be relevant for determining independence of a non-executive director 8. All directors should have access to independent professional advice at the company’s expense where they judge it necessary to discharge their responsibilities as directors. 9. No individual or small group of individuals should dominate Board’s decision making process 10. Directors should ensure that the concerns raised by them are recorded in the minutes 11. Board should appoint one of the independent non-executive directors as Senior Independent Director under whose leadership annual performance evaluation of Chairman should take place and who can be directly approached by shareholders for resolving any concern IT WILL BE NOTED THAT OUR REQUIREMENTS ARE MUCH LESS RIGOROUS. IN THE INDIAN CONTEXT HOW CAN ONE ENSURE THAT THE BOARD REMAINS EFFECTIVE? MY HUMBLE SUBMISSION IS THAT IT IS TRAINING AND UPGRADATION OF KNOWLEDGE OF THESE DIRECTORS WHICH CAN HAVE A MAJOR IMPACT ON BOARD ROOM CULTURE. THE SEBI COMMITTEE UNDER THE CHAIRMANSHIP OF MR NARAYANA MURTHY HAD RECOMMENDED TRAINING OF THE DIRECTORS IN THE BUSINESS MODEL OF THE COMPANY AS WELL AS THE RISK PROFILE OF THE BUSINESS INCLUDING THE RESPONSIBILITIES OF DIRECTORS AND HOW BEST THEY CAN DISCHARGE THEM. SEBI CHAIRMAN HAS RECENTLY MENTIONED THAT A SEPARATE MEETING OF INDEPENDENT DIRECTORS PRIOR TO THE BOARD MEETING COULD BE HELD SO THAT THE IDs AMONG THEM CAN DISCUSS FREELY ANY ISSUE IF THIS BECOMES MANDATORY IT IS UNLIKELY THAT CORPORATES WOULD WELCOME IT EVEN SOME NON MANDATORY ISSUES OF CLAUSE 49 SUCH AS EVALUATION OF PERFORMANCE OF BOARD MEMBERS OR TRAINING OF DIRECTORS ARE VERY CONTENTIOUS ISSUES AND SHOULD SEBI DECIDE TO MAKE THE NON MANDATORY ISSUES OF CLAUSE 49 MANDATORY MANY CORPORATES MAY FIND DIFFICULT TO COMPLY – THIS IS NOT ENTIRELY UNLIKELY AS NEARLY TWO YEARS HAVE ALREADY PASSED SINCE THESE NON MANDATORY ISSUES WERE INCLUDED IN CLAUSE 49 NOT CONSIDERING THE LONG PERIOD OF OVER TWO YEARS THAT SEBI HAD ALLOWED FOR INDIAN CORPORATES TO DIGEST AND ABSORB THE RECOMMENDATIONS OF MURTHY COMMITTEE MINIMUM INFORMATION TO BE PLACED BEFORE BOARD 1. ANNUAL BUDGETS AND ANY UPDATES 2. CAPITAL BUDGETS AND ANY UPDATES 3. QUARTERLY RESULTS FOR THE COMPANY AND ITS OPERATING DIVISIONS OR BUSINESS SEGMENTS 4. MINUTES OF AUDIT AND OTHER COMMITTEE MEETINGS 5. RECRUITMENT/REMUNERATION OF SENIOR OFFICERS JUST BELOW THE BOARD LEVEL INCLUDING APPTMT OR REMOVAL OF CFO AND CS 6. MATERIAL SHOW CAUSE/DEMAND/PROSECUTION NOTICES 7. FATAL/SERIOUS ACCIDENTS,MATERIAL EFFLUENT OR POLLUTION PROBLEMS 8. MATERIAL DEFAULT IN FINANCIAL OBLIGATIONS TO AND BY THE COMPANY OR SUBSTANTIAL NONPAYMENT FOR GOODS SOLD BY THE COMPANY 9. PUBLIC OR PRODUCT LIABILITY CLAIMS OF SUBSTANTIAL NATURE INCLUDING ANY JUDGEMENT OR ORDER WHICH MAY HAVE PASSED STRICTURES ON THE CONDUCT OF THE COMPANY OR TAKEN AN ADVERSE VIEW REGARDING ANOTHER ENTERPRISE THAT CAN HAVE NEGATIVE IMPLICATIONS ON THE COMPANY 10. JOINT VENTURES AND COLLABORATION AGREEMENT 11. TRANSACTIONS INVOLVING SUBSTANTIAL PAYMENT TOWARDS GOODWILL, BRAND EQUITY,OR INTELLECTUAL PROPERTY. 12. SALE OF A MATERIAL NATURE OF INVESTMENTS, SUBSIDIARIES, ASSETS WHICH ARE NOT IN THE NORMAL COURSE OF BUSINESS 13. SIGNIFICANT LABOUR PROBLEMS AND POSSIBLE SOLUTIONS. SIGNIFICANT DEVELOPMENTS IN HR/IR FRONT INCLUDING ANY WAGE AGREEMENT, VRS ETC. 14. QUARTERLY DETAILS OF FOREIGN EXCHANGE EXPOSURES AND STEPS TAKEN TO LIMIT RISKS OF ADVERSE EXCHANGE RATE MOVEMENT 15. NON COMPLIANCE OF ANY REGULATORY OR STATUTORY OBLIGATION OR LISTING REQUIREMENTS AND SHAREHOLDER SERVICE CEO/CFO CERTIFICATIONCERTIFY TO THE BOARD THAT- They have reviewed financial statements and cash flow statement for the year and to the best of his knowledge and belief – i) These statements do not contain any material untrue statement or omit any material fact or contain statements that might be misleading ii) These statements together present a true and fair view of the company’s affairs and are in compliance with This is a new requirement brought in by SEBI through amendment of Listing agreement and follows what SOX Act requires. By certifying to the Board in the manner prescribed the CEO and CFO are indeed shouldering responsibility about financial statements, internal control system and its effectiveness, accounting policy etc. While this certificate is a very big comfort for the Board for submitting Directors Responsibility Statement to the shareholders as required under the Companies Act it is no doubt necessary for the CEO and CFO to take a number of steps before they can issue such wide certificate to the Board Existing accounting standards, applicable laws regulations; iii) There are no transaction entered into by the company during the year which are fraudulent, illegal or violative of the company’s code of conduct; iv) They accept responsibility for establishing and maintaining internal control systems of the company and they have disclosed to the auditors and audit committee deficiencies in the design or operation of internal controls ,if any, of which they are aware and Some of these steps are Reviewing the internal control system in all parts of the company to identify deficiencies, if any; Periodical review of accounting policies in the light of accounting standards; Continuous updation of knowledge of accounting standards Obtaining back-up certificates from heads of Units/Departments on the same line as the certificate to the Board- this is particularly important for item (iii) and The steps they have taken or propose to take to rectify these deficiencies; v) They have indicated to the auditors and the Audit committee – Significant changes in internal control during the year Significant changes in accounting policies during the year and that the same has been disclosed in the notes to financial statements Instances of significant fraud of which they have become aware and the involvement Item (v) relating to fraud etc. Periodical review of internal control system of the company by an external expert for reassurance Taking actions on instances of lapses in internal controls, fraud, unethical or illegal actions of any employee –exemplary punishment in these matters could inculcate better compliance environment in the organisation reducing chances of fraud etc Therein ,if any, of the management or an employee having a significant role in the company’s internal control system. Regulations do not require bringing to the attention of the Board introduction of new accounting standards and its implications to the company. When financial statements are certified by a CEO he/she should have broad knowledge about how these statements are prepared and what are the main requirements of applicable accounting standards. It is hoped that this certification will enforce greater financial discipline in corporates. POINTS FOR CONSIDERATION OF CEOs BEFORE GIVING THE CERTIFICATE TO THE BOARD HAVE YOU GONE THROUGH THE FINANCIAL RESULTS IN SUFFICIENT DETAILS WITH THE CFO AND THE AUDITOR AND SATISFIED YOURSELF ABOUT ITS CORRECTNESS? DO YOU BELIEVE THAT PROFIT IS A DERIVED FIGURE BEING THE AMOUNT ARRIVED AT BY DEDUCTING COSTS FROM REVENUES OR YOU DECIDE ABOUT THE PROFIT FIGURE FIRST AND FIT IN REVENUES AND EXPENSES KEEPING THE DESIRED PROFIT UNCHANGED-HOW OFTEN DO YOU ASK YOUR CFO –’HOW MUCH PROFIT SHOULD WE SHOW’ HAVE YOU TRIED TO UNDERSTAND THE IMPLICATIONS OF ACCOUNTING STANDARDS ON YOUR COMPANY’S FINANCIAL STATEMENTS? HAVE YOU CAREFULLY NOTED THE COMMENTS OF AUDIT COMMITTEE ON THE FINANCIAL STATEMENTS AND ENSURED THAT APPROPRIATE CHANGES, IF ANY, HAVE BEEN MADE IN THE FINANCIAL STATEMENTS HAVE YOU DISCUSSED WITH THE STATUTORY AUDITORS SEPARATELY WITHOUT THE PRESENCE OF YOUR CFO ABOUT THE ANNUAL FINANCIAL STATEMENTS AND OBTAINED THEIR INDEPENDENT VIEWS ON THE FINANCIAL STATEMENTS HAVE YOU PERIODICALLY REVIEWED THE EFFECTIVENESS OF INTERNAL CONTROL SYSTEM IN THE ORGANISATION AND HAVE TAKEN STEPS TO REMOVE ANY DEFICIENCY THAT MIGHT HAVE BEEN POINTED OUT? DO YOU MAKE YOUR OWN ESTIMATE OF PROFIT BASED ON REVENUES EARNED AND TRY TO RECONCILE ANY

The eNotes Blog Growing Up Turning 21 and Other Reflections on a Quarter LifeCrisis

Growing Up Turning 21 and Other Reflections on a Quarter LifeCrisis According to many, I’ve crossed the final threshold into adulthood. On February 14, I turned 21. For many people this means trips to Vegas, wineries, and (if you live on Capitol Hill in Seattle) a 21 Run which consists of a parade through a minimum of five bars the night of your birthday. For me, my 21st was just a confirmation of what I already knew to be true: I’ve reached the so-called ‘grown up’ part of my life. Turning 21 is just another reminder that in the next year I’ll be graduating from college and crawling into my first career, whatever that may be. Honestly, I don’t believe  college students are given the recognition they deserve. At my university we joke that if you’re not over-involved and over-committed, you aren’t getting the full Seattle University Redhawk experience. For example, my average Wednesday looks something like this: 6:30 am wake up, shower 7:45 am venture to Starbucks, grab a coffee and breakfast sandwich 8-10:30 am work on homework for this morning’s class 10:55-12:20 pm attend French lecture 12:20-12:45 pm walk to , stop at QFC for a quick lunch to-go 12:45-4:45 pm internship 5:00 pm arrive home, attempt to eat a balanced meal 6:00-7:30 pm attend/work Student Events and Activities Council event 8-9 pm SEAC meeting 9:15 arrive at home, work on homework for Thursday morning 11:00 pm you guessed it bed time This schedule is on par with many of my peers typical days as well. Just looking at that hour-by-hour breakdown makes me tired (and a little bit nauseous). I think we, as a society, tend to believe that if we aren’t productive every hour of every day, we are somehow failing ourselves and the expectations put in front of us. This image  demonstrates what many consider to be a daily struggle, excluding some key factors. Many students work multiple jobs and juggle additional extracurriculars which arent really accounted for below. Realistically, this graphic would serve us better if it was a pentagon or something larger! Growing up has meant re-evaluating the priorities in my life on a fairly regular basis in order to find a balance that is satisfactory. Ive by no means perfected this balancing act yet, but Ive at least come to the realization that not everything can be perfect. Not every assignment I turn in will get an A, not every class I take will intrigue me, and not every week will I feel capable of doing it all, but acknowledging that these factors only make up one, individual part of my life, gives me hope and faith in myself. Overall, learning that its okay to drop the ball every once in a while has proven to be my most valuable grown up lesson. I recently stumbled upon a quotation that seems well-suited for a post of this nature: Perfection is annihilation.   It paralyzes us from working from our heart. Humans by nature are not perfect and imperfections are what make the world beautiful. Have you ever felt utterly overwhelmed by the pressure to perform in every facet of your life? What helped you through that point in your life? If youd like to shoot me an email and share your stories and commiserate, I can be reached at krounds@  or in the comments below. With excitement and sincerity, Katie R.

China's economic growth Research Paper Example | Topics and Well Written Essays - 1000 words

China's economic growth - Research Paper Example At the core of this plan is a noninterventionist foreign-policy, meaning that even when they provide aid to various countries they are taking the position that it is not their place to interfere in the social construction in terms of human rights, political power, or social responsibility. This is a specific contrast to Western ideas, both the US and European concepts, in the way in which to conduct foreign relations. When the West brings aid into the country they do it with certain social expectations in terms of how that aid will be used. China has established a policy of nonintervention likely so that they can be seen as different from the United States, more attractive to governments, and a more likely partner in terms of economic growth. In relationship to Africa, Chinese leaders have entered into Africa and taken tours across the various nations more than 15 times in the last decade, which far out distances the United States in terms of attention to Africa needs. The relationships between nations of Africa and China have reached more than $200 billion in trade and business as of 2012. This also represents an increase of more than 20 times that which is being conducted in the year 2000, which places China ahead of any other nation in utilizing asking resources for which contracts with Africa are now one third of the total revenue that China is establishing in terms of relationships abroad. This indicates a policy of â€Å"servicing the relationship† which means that they are given a lot of attention to African leaders in order to create strong bonds that will have impact in the future. Chinese current GDP as of 2014 is $17.63 trillion. The GDP per capita is $12,900. The GDP is primarily composed of agriculture at 9.7%, industry at 43.9%, and services of 46.4%. The unemployment rate hovers around 4.1%, with a population that goes underneath the poverty line at approximately 6.1%. In terms of the distribution of family income China is approximately

Mass media and child labour Essay Example | Topics and Well Written Essays - 11250 words

Mass media and child labour - Essay Example The overall image that emerges from the literature on both topics was that child labour is a very real problem and that the media has the power to try and help eradicate the worst forms of it. Therefore, the objective of this dissertation was to examine to what extent the mass media as a communication tool influence society’s perception on businesses involved in child labour. This was done by using qualitative research methods in the form of six individual in-depth interviews and two focus groups made up of three children in each. The purpose of which to answer the deeper, more probing questions of; (1) If media exposure to the issue of child labour influences the public’s opinion on the companies involved; (2) What industry has the highest visibility in the media and (3) Is it important to consumers whether or not a company practices Corporate Social Responsibility. The finding revealed that media exposure to the issue of child labour did in fact influence how they viewed the companies that were being named. Furthermore, that the industry that the respondents viewed as being more visible in the media was that of retail. Lastly, it was extremely important to them for companies to act ethically. The implications of this dissertation is that it reveals the little power one individual has on influencing the practices of a company as despite the empathy that one feels alternative chooses are not readily available. Nonetheless, this dissertation for companies should worry them as the same way in which riots broke out after Primark’s scandal was broadcast the same could follow suit. However, this dissertation goes further to show companies that it need not be hard or expensive to implement best practice procedure to ensure that nowhere in their supply chain is a company that is associated with child labour. Corporate communication encompasses a number

To what extent is jihad an important concept to understand Essay

To what extent is jihad an important concept to understand Frankish-Muslim relations - Essay Example f this paper that the influence of the confrontationist ideology of â€Å"jihad† on the organization of relationships between Franks and Muslims is nearly negligible, and not so important in understanding the Frankish-Muslim relations in the period between the first Crusades through to the thirteenth century. The concept of jihad in Arabic roughly translates to mean â€Å"struggle† and it denotes the central obligation of all believers of the Islam religion to their faith—thus, it refers to the â€Å"struggle† against all those who are opposed to Allah, and the Islamic faith in general, within the context of classical theory of Islam. The word jihad has acquired two commonly acknowledged interpretations, which are â€Å"an inner spiritual struggle† and an â€Å"outer physical struggle†; whereas conventional attitudes acknowledge the inner struggle by believers to fulfil their religious obligations as the true essence of the term, Islamic scholars stress that the term inevitably connotes an armed struggle against persecution as well as oppression. In this respect, proponents of the violent form of jihad have largely contributed to the pervasive interpretation of the term to mean â€Å"holly war† that is deeply inculcated all over the Islamic world ; today, the term has taken on a military meaning in nearly all contexts, and is a fairly stable idea in Islamic law (Parviz, and Ridwan 2001, p.23). Earlier historical publications have explored the Frankish-Muslim relations to great extents in which they have pervasively enforced the perspective that the Frankish states remained outposts of the Christian world and infidels in the dominant Islamic Middle East. Consequently, the bleak image of a Christian-Islam confrontation in the Frankish-Muslim relations has often emerged and taken root in a vast proportion of western sources thereby greatly influencing western thought and discourse. The true nature of the Frankish-Muslim relations remains to be a hotly contested, often

British Conventional Defence Policy in NATO 1979-1989

British Conventional Defence Policy in NATO 1979-1989 Kenton White Methodological Approach21813746 British Defence Policy within NATO, 1979 – 1989 Did Britain’s conventional contribution match its obligation? My research is an analysis of British conventional defence policy within NATO between 1979 and 1989. This research will critically review the plans in place for mobilising, transporting, supplying and reinforcing units in Europe, as well as the plans for Home and Civil defence of the UK. The research will cover the crisis, transition to war and war plans of NATO and the British Government. The plans will be compared with the commitment Britain made to NATO, and the real-world ability of Britain’s Government to fulfil those commitments. Britain, through its defence policy and membership of NATO, committed to provide troops, weapons, equipment, supplies, services, transport/storage and infrastructure facilities in the event of war in Europe. The research will be conducted using material from NATO, the National Archives and other Governmental departments, as well as interviews with personnel who served during the period. Using case-studies (exercises [CRUSADER, WINTEX, etc.] as w ell as mobilisation for actual combat [Falklands War, Gulf War 1991]), this research will uncover any link between the aim of defence policy and the ability to implement that policy. These case-studies sometimes expose fundamental problems in the armed forces operations. This disparity in planning and execution has a direct implication for understanding current and future defence policy and planning. Amongst the methodologies considered for this PhD were Case Studies, Small-N, Critical Discourse Analysis and those drawn from historical understanding. There is also a strong case to be made for use of the economics-based Alliance Theory[1] to explain some of the policies adopted by Britain during the period. However, this research is not attempting to validate a theory; rather it is intended to answer the question set in the title of the PhD. The question is posed in this way because the nature of the investigation and research does not require the researcher to posit a theory. It would be possible to theorise that, â€Å"Britain was not capable of fulfilling its obligations to NATO between 1979 and 1989† but in the researcher’s opinion this angle of questioning is biased. It would be possible to frame an argument thus, â€Å"Why was Britain unable to fulfil its military obligation to NATO?† but the current research does not enable that question to be confirmed as plausible so far. The answer to the original question may indeed find that Britain was unable to fulfil some or all of its obligations. The purpose of this research is not only to establish if Britain could have fulfilled its obligations, but to look at the ways in which other pressures shaped the defence policy, changing the question of defence policy from, â€Å"What do we need?† to, â€Å"How little can we get away with?† This has direct, and possibly contentious, implications for modern defence planning in a political, economic and military environment which does not have the apparent stability and predictability of the Cold War. This research is not intended to be comparative; that is it does not compare Britain’s NATO commitment with that of other NATO members. This means that broad comparative methodologies such as Small-N comparison aren’t relevant. Small-N relies to a large extent on Mill’s methods of agreement and difference[2], but since the N in this research is 1, it is impossible to compare with another event. Also, the objective of the research is not to infer or disc over an overall causality, but to identify capability and intent. There will be instances of cause and effect within the research, such as NATO force proposals causing the stated requirement from the MOD, but these are individual instances within the overall scope of the research question. The objective is not specifically the research of these causal links. Small-N seeks to identify what are the causes of a particular event, whereas I seek to understand if a goal could have been or was fulfilled. It is extremely difficult in some circumstances to define whether a particular commitment could have been fulfilled, for example, â€Å"†¦the defence of the United Kingdom base and its immediate approaches †¦Ã¢â‚¬ [3], as this is ill-defined. The research seeks to identify aspects of the defence policy which are more clearly definable. As part of the above example, Britain promised to provide, in the event of war, a certain number of ships and aeroplanes equipped to search for and attack WTO[4] ships and aeroplanes in and around the British Isles. NATO produced â€Å"Force Proposals† on a regular basis which defines exactly what is required and by when. These documents, and the supporting British Government documents, define what the commitment was, in quantitative and qualitative terms. It is then possible, using Defence Ministry documents, to compare the capabilities and numbers of available ships and aeroplanes against the NATO Force Proposals. The research relies on several case studies; two of actual mobilisation for war[5], and several exercises that tested the plans put in place for war in Europe. With regard to the two actual mobilisations, there are no theories regarding the ability of a country to mobilise, nor are there any theories which deal with the reaction to unexpected conflicts breaking out. The intention is to investigate the case-study subjects and evaluate which of the NATO plans for activation and mobilisation had been used (if any) and which had not. An assessment is then to be made of why some had been used and others not, and, for those used, whether they were met. If there was a success or failure to meet a particular planned mobilisation time or supply level, the reason for that outcome will be investigated. For these plans the analysis will need to be carried out to see if there is a correlation between the type of service/equipment plan and its success or failure. For example, if it is found that Britain was unable to fulfil a substantial number of its NATO obligations, the intention is not then to theorise that the other NATO nations could not fulfil their obligations. The intention is to identify the aspects of NATO planning which establish the force levels, identify the political and military decisions that appear to respond to and satisfy those levels, and then to see what, if any, connection exists between the two. The research is not then intended to be used to criticise, support or demonise any particular political or military viewpoint. The intention is to establish a framework by which, with historical understanding, the ramifications of budget setting and political policy can be seen to act upon Britain’s military’s ability to work either alone or in alliance with other countries to achieve an objective. Selection of the case by the dependent variable is seen as poor methodology design. But this relates to case-studies when used in a comparative fashion, and when attempting to establish the validity of a theory[6]. As mentioned above, this research is attempting to answer a question, rather than establish a new paradigm, and so the selection of the case studies is dictated by the time period, rather than by any conscious decision by the researcher. During the period, NATO states were provided with a common opponent in the WTO, one which represented a power that individual states alone could not counter. A large amount of the research material investigated so far assumes this bi-polarity, but only a few documents seek to identify, and to confirm or deny, its existence. Discourse analysis seeks to define the body of language that the research material originates from, and to discover the rationale, patterns of usage and concepts at work[7]. â€Å" †¦ a discourse is more than the sum of the utterances composing it †¦Ã¢â‚¬ [8] This assumption of a discourse by the authors is expected, as they are professional military officers or politicians, and hence have an established set of references from which they need to work. But this common structure is broader than the focus of this research, being specific to the NATO obligations. It will be useful, as part of the research, to identify the assumptions and specific areas of discourse used in the documents. We must be careful, however, to clearly identify the aspects of ‘Cold War’ discourse that are in play. The Cold War of Europe was different in many aspects, including the language used to describe it, from that of Asia. This research seeks to limit the discourse to the ‘East-West European’ confrontation. Discourse analysis may well provide insights into the patterns of thinking and assumptions made by the participants. Foucault refers to discourses as systems of thoughts composed of concepts and attitudes, based on power relationships[9]. With a long view of history, the attitudes and beliefs develop together with the subjects and words, and they are interconnected, rather than one caused by the other. Defining the ‘horizon of meaning’[10] and ‘truths’ will necessitate a definition of these for several situations; one for the general public; another for politicians; another for the military; another for business and commerce; and probably most importantly, the perceived ‘enemy’. This may provide us with several inter-related and overlapping, but different, discourses. Carr proposed the idea that one’s own views are promoted by being veiled as in the interests of all.[11] He proposed a realist view of state and power, and the national self-interest represented.[12] This, given the time period of the research, may be a more accurate description of the ‘discourse’. Reading these documents as ‘performances’ can be useful in some cases, but generally the research so far has shown that the majority of documents seek to downplay ‘performance’. The authors tend to focus on, what are to them, the facts of a particular situation. A large number of these documents were never intended to be seen by the general public, and their content is sometimes disturbing. Had they been written with an eye to future publication, the likelihood is the content would be different, as can be seen in those few items which are â€Å"polished† for public consumption. With both the original and public versions, we can see that harsh details are left out, and more general conclusions adopted. In the raw originals, difficult decisions affecting millions of people are taken. It is these raw originals which make up the vast majority of the research material for the study. Although we can never completely ignore the fact that some writers will be less analytical than others, we can use the large number of documents in cross-referencing and evaluating any particular writer’s view of a situation. Alliance Theory is a comparative analysis of two or more countries within an alliance, but the structure of the analysis can be used to establish levels of defence spending in the alliance within a standardised framework. Although this research is not directly comparative, it is useful to understand, at least in outline, the spending patterns of other NATO members, and the research will provide specific isolated instances of comparison to establish baseline measures. NATO Alliance Theory tells us that in military alliances, larger countries will have a disproportionate share of the costs of defence to the smaller countries, and uses a methodology which measures such variables as GDP, defence spending and population size[13]. Benefits deriving from the common defence are also analysed in terms of â€Å"good† provided to the populations involved. This can be employment, national and local income from arms sales and foreign investment, or spin-offs from military production that f ind their way into consumer products. Included in the analysis is an evaluation of the convergence of purpose in an alliance, which is proposed to have direct effect on the sharing of burdens within the alliance (the stronger the convergence, the greater the disproportion of burden sharing.) There are several areas of investigation that must be included in this research to make it valid. Not only will the capability of the military be investigated, but the political will to make unpopular and financially costly decisions, and the overall effect of policy within collective defence. The methodology planned for this research is an amalgam. It will use a mixture of quantitative and qualitative research, dealing with a range of subjects from the number of NATO small-arms ammunition rounds kept in War reserve for the front line troops to use in case of war, to the ability of the British Government to mobilise sufficient transport to move 300,000 US and Canadian reinforcements and their associated equipment from ports and airports around the country to the European Continent. A large part of the analysis will involve the reviewing of financial and material contributions to NATO, set against the force proposals. This information will be obtained from British Government and MOD p apers. Financial data must be analysed with a solid baseline which takes into account inflation, foreign exchange and varying unit costs. The research will analyse particular aspects of defence policy that can be quantified directly, for example the provision of naval vessels committed to NATO’s Eastern Atlantic command in the event of a war, and compare the actual available naval vessels and their capabilities. Such comparisons can be applied to a variety of circumstances from tanks to hospital beds to ammunition reserves. The data will also analyse the cost of Home/Civil Defence as part of the Defence budget, and allow a conclusion to be drawn as to whether this fulfilled any NATO obligation, for example Key Point Defence[14], or whether it provided a positive benefit to Britain (as defined within Alliance Theory). The exercises mentioned as case studies will be analysed using counterfactual conditions taken directly from MOD exercises of the period which best reflect the p erceived threat. The military, political and social awareness of the demands of the BAOR and Home/Civil Defence will be assessed here. Using an historically informed appreciation of the broader events of the time, the qualitative and quantitative findings mentioned above can be brought together to comprehensively answer the research aims. It is axiomatic that research such as this cannot be undertaken without a long view of the history of British defence and foreign policy. Britain had, for the previous 200 or more years, focussed much of her foreign and military policy on maintaining a balance of power in continental Europe. This allowed her to focus on Imperial expansion, and latterly on securing trade-routes and supply. Membership of NATO, and the efforts put into that membership must be seen in context, otherwise certain events and policies will be misunderstood. King, Keohane and Verba state that, â€Å"All good research can be understood †¦ to derive from the same underlying logic of inference.† [15] There is no one methodology that fits the research being undertaken, as it does not aim to prove or support a theory. Rather it seeks to understand and answer a fundamental question that is still relevant today, namely can the defence policy fulfil its aims? Alliance theory can aid in an analysis of the quantitative data, providing an assessment of the benefits to Britain of its NATO role, and the costs associated with it. The fact that one methodology does not fit the research does not mean that aspects of that methodology cannot be used. A criticism that may be levelled at this research is that it doesn’t have a recognised methodology, in the way that Small-N or Discourse analysis is recognised. However, the final methodology must be designed with rigour in mind, such that it answers any criticisms of structure and coherence within the framework of the required research. Word Count:2866 1 of 5 [1] Mancur Olson and Richard Zeckhauser, ‘An Economic Theory of Alliances’ (RAND Corporation, 1966), RM-4297-ISA. [2] Stanley Lieberson, ‘Small Ns and Big Conclusions: An Examination of the Reasoning in Comparative Studies Based on a Small Number of Cases’, University of North Carolina Press, 1991. However, a different perspective on the use of Mill’s methods in Small-N analysis is proposed see Goldstone quoted in Mahoney, p388 [3] Statement on the Defence Estimate 1979 – The National Archives, CAB 129/205/3 [4] The Warsaw Treaty Organisation of Friendship, Cooperation and Mutual Assistance was formed in 1955 [5] 1982 Falklands War and 1991 Gulf War. Although the Gulf War is outside the timescales adopted for this research, the plans in place will be those developed during the period under review. [6] Stephen G. Brooks and William C. Wohlforth, From Old Thinking to New Thinking in Qualitative Research, International Security, Vol. 26, No. 4 (Spring, 2002), pp. 93-111 [7] John Tosh, The Pursuit of History: Aims, Methods, and New Directions in the Study of Modern History, 4th ed (New York: Longman, 2006), p. 195. [8] Professor Louis de Saussure, Pragmatic Issues In Discourse Analysis, Critical Approaches to Discourse Analysis Across Disciplines 1 (1), 2007, p179 [9] Derek Hook, Discourse, knowledge, materiality, history : Foucault and discourse analysis, Theory and Psychology 11 (4), 2001, p521 – 547. [10] Powerpoint presentation, Dr Andreas Behnke, PIM56, Spring Term 2014 [11] Howard Williams, Moorhead Wright and Tony Evans, eds., A Reader in International Relations and Political Theory (Buckingham: Open University Press, 1993), pp. 179–180. [12] John Mearsheimer, E.H. Carr vs. Idealism: The Battle Rages On (Sage Publications, 2005) [13] Olson and Zeckhauser. [14] Key Points include ammunition stores, communication centres, Early Warning systems amongst a host of other locations which could be defended with deadly force, even before the outbreak of a war. [15] King, Keohane Verba, Designing Social Inquiry, Princeton University Press, 1996, p 4

Strabismus Essay -- Biology Essays Research Papers

Strabismus A camera lens focuses patterns of light onto film which records the image exactly. If the lens is out of focus or partially covered, a b lurry or obscured picture will result. The film is a recording device, it does not interpret and select what it portrays. Images from a camera are objective in a very literal sense. Seeing, however, is not such a seamless process. Our eyes work similarly to a camera in that they have a lens which focuses a real image on our retina, a light sensitive sheet of cells. This retinal image is a portrayal of the world as it truly is. The image which we see, however, is not this image. By considering a normal vis ual property as well as an uncommon ocular disorder the process of formulating our visual sense will be investigated. There is a difference between the picture recorded on film and that recorded by our brains. For purposes of this paper, the term "retina l image" is used as an analogy to a photographic image (one without interpretation by the brain ). The phrase "brain image" refers to the retinal image post-brain interpretation. The brain image is the image which would be described by the person, the imag e which is thought of as seeing. This phenomena of brain interpretation is easily demonstrated by discovering one's blind spot. (A good self experiment is described at 1) The blind spot results from an area of the retina which does n ot have photoreceptor nerve cells, the optic nerve head. Yet, even without this seemingly vital information, the brain is able to supply us with a complete brain image. The brain has filled in the blind spot with an image which it believes makes sense. Ha ving explored the blind spot, one can understand that what is captured in the brain image m... ...have been ignored is forced to develop. Adult onset strabismus, however, results in double vision because the brain can not simply ignore the one image that does not make sense. This type of strabismus can not be treated with patching, as their brains have already developed a patte rn which uses both eyes to comprise the brain image. (4) (5) This exploration of strabismus has shown that the brain is a very active participant in determining our perception of the world around us. Visual informati on received by the eye is only part of the story, the brain takes these images and selects what is useful, discarding (strabismus) as well as adding (blind spot) information, thus, constructing our visual experience. Internet Sources: http://serendip.brynmawr.edu/bb/blindspot1.html http://www.hhmi.org/senses/b410.html http://www.seekwellness.com/index.htm

Case Analysis of Deere and Company Essay

Deere & Company, founded in 1837, is a word leading manufacturer, distributor, and financier of equipment for agriculture, construction, forestry, and commercial and consumer applications, today does business in more than 160 countries, manufactures products in 10 countries and employs more than 34,000 people worldwide. Deere & Company or also known as John Deere has been the free world’s largest producer of agricultural equipment since 1963, and is a leading producer of construction and forestry equipment. The company markets North America’s broadest line of lawn and grounds care equipment, and is a major producer of diesel engines and parts. Since 1837, John Deere has seen a great many changes in its business, its products, and its services. Change always comes with opportunity. And Deere has always been ready and willing to embrace it. Yet, through it all, John Deere is still dedicated to those who are linked to the land – farmers and ranchers, landowners, builders. And Deere has never outgrown, nor forgotten, its founder’s original core values: integrity, quality, commitment and innovation. Those values determine the way they work, the quality they offer, and the unsurpassed treatment you get as a customer, investor, and employee. Deere’s objective has consistently been to be the low-cost producer in the markets it serves. However, it seeks to do so while maintaining an image of quality and customer focus. Its company values are quality, innovation, integrity, and commitment. Because of the company close ties to the agricultural industry, corporate performance in both sales and profits was highly variable over the last several decades due to cycles of low process and oversupplies of many agricultural products. During that period, the company made various adjustments in its product mix and manufacturing processes to enable it to better compete and survive in the global environment. PROBLEMS OF THE STUDY The fundamental challenge was to continue to improve their financial performance with an increased focus on growth without sacrificing profitability. Although improving profitability was hard to implement, the approach was well understood – lower cost, reduce assets or increase asset utilization, increase sales, and improve price realization by reducing discounts and similar price cutting programs. AREAS OF CONSIDERATION Capabilities and capacities that may be beyond the current skill set of Deere & Company, a more intimate knowledge of potential new customers which may not be the focal point of the current sales/marketing organization. ALTERNATIVE COURSES OF ACTION To achieve exceptional operating performance, disciplined growth and do it through high performance aligned team work. Operational performance has been improving through the classic approaches of cost reductions, improved asset utilization and margin enhancing/ value pricing, and metrics and reward systems that enable the organization to reach new levels. Generate more profits. They can also generate new sales because they do not compete with Deere current products (and in many cases are add-ons to current products), and can serve to attract new customers. CONCLUTIONS Deere & Company can maintain its focus on delivering quality products that customers valued. Financial performance was cyclical and Deere typically earned a competitive return on capital. RECOMMENDATIONS Accelerated Innovation Process must implement at Deere to evaluate new product/service initiatives more systematically and quickly. Improving the performance and/or lowering the cost of current product/service offerings to current customers. Maintain high quality products that provide reliable and consistent services/experiences for their customers.

“Homeless” by Anna Quindlen Essay Essay Example

â€Å"Homeless† by Anna Quindlen Essay Essay Example â€Å"Homeless† by Anna Quindlen Essay Paper â€Å"Homeless† by Anna Quindlen Essay Paper In this narrative â€Å"Homeless† Anna writes about analysing what homeless don’t have and to look at them otherwise. it all started by a adult females named Ann and there she had realized of the homeless. She. Quindlen. knows what Ann is speaking about how place is really meaningful. I besides understand. Hopelessly Quindlen terminates that our module of being place has adjusted. During the clip. I originally discord with Anna that the homeless are the one to give stamp feelings. She convinced us to concentrate on what they needed other than who we think they should be. Feeling that she had pulled my strings at the beginning by ground of she decided upon as her homeless individual non a brainsick lady but a adult female she had met at the Port Authority terminus that claimed that she’s non truly stateless. Ann pulls out a exposure but non a arm I sensed Quindlen had ambushed me. I admit that â€Å"Home is where the bosom is at† after all I besides eulogize my 2 sleeping room flat that is occupied by nine people. Yet it keeps us secured and stable. Home is where memories are made. maintain and given. The homeless that I’ve seen are largely work forces walking around inquiring for money most of them don’t have card-boards to populate in. They seem to frighten me. I’m afraid that one of these yearss they’ll abduct me and possibly I’ll end up spiritless. When female parent and I go for a walk in the country of East Los Angeles I hold her stopping point to me. we’re both invariably on guard because the homeless are everyplace. I feel like running place where I can conceal and hold protection. In one’s position. a individual can’t be fulfilled without a lasting place for many instances. A individual without a lasting place is similar to non populating. If it’s a impermanent place so the individual would be frustrated for the ground that he or she won’t be able to populate in a place for long and wants to hold a life where she or he can maintain inviting invitees and have a place where that individual will be able to make anything. On the other manus. if it is non a lasting place nor a impermanent place this is an uncomparable state of affairs seeing that a individual who is stateless isn’t accomplishing anything and non sing how it feels to hold a place. Sing others eating good. dressing good. holding a healthy life is non doing the homeless feel satisfied for what they have-not. Assuming that Quindlen’s essay was about how the homeless require a place likewise any other homo. this instance which I acknowledge here and now. the intent can make more than that an impossible place where a individual can confidentially make anything merely plentifulness that we need to bring forth the homeless. Quindlen references nevertheless she does non set on those who prevent shelters because of personal grounds they have been through the past. We should cognize their demands as good. And we need to see supplying a topographic point free of fright for those who. alternatively of desiring to paint a room blue. would wish to read a book or watch a film on Television. I agree. that place is everything. Ann needs a place that she can name her ain. but to be a compassionate people. we should take the clip to understand and assist even those who don’t have images of xanthous houses in their soiled bags.

Ankgor Civilization, the Khmer Empire in Southeast Asia

Ankgor Civilization, the Khmer Empire in Southeast Asia The Angkor Civilization (or Khmer Empire) is the name given to an important civilization of southeast Asia, including all of Cambodia and southeastern Thailand and northern Vietnam, with its classic period dated roughly between 800 to 1300 AD. It is also the name of one of the medieval Khmer capital cities, containing some of the most spectacular temples in the world, such as Angkor Wat. The ancestors of the Angkor civilization are thought to have migrated into Cambodia along the Mekong River during the 3rd millennium BC. Their original center, established by 1000 BC, was located on the shore of the large lake called Tonle Sap, but a truly sophisticated (and enormous) irrigation system allowed the spread of the civilization into the countryside away from the lake. Angkor (Khmer) Society During the classic period, the Khmer society was a cosmopolitan blend of Pali and Sanskrit rituals resulting from a fusion of Hindu and High Buddhist belief systems, probably the effects of Cambodias role in the extensive trade system connecting Rome, India, and China during the last few centuries BC. This fusion served as both the religious core of the society and as the political and economic basis on which the empire was built. The Khmer society was led by an extensive court system with both religious and secular nobles, artisans, fishermen and rice farmers, soldiers, and elephant keepers: Angkor was protected by an army using elephants. The elites collected and redistributed taxes, and temple inscriptions attest to a detailed barter system. A wide range of commodities was traded between Khmer cities and China, including rare woods, elephant tusks, cardamom and other spices, wax, gold, silver, and silk. Tang Dynasty (AD 618-907) porcelain has been found at Angkor: Song Dynasty (AD 960-1279) whitewares such as Qinghai boxes have been identified at several Angkor centers. The Khmer documented their religious and political tenets in Sanskrit inscribed on stelae and on temple walls throughout the empire. Bas-reliefs at Angkor Wat, Bayon and Banteay Chhmar describe great military expeditions to neighboring polities using elephants and horses, chariots and war canoes, although there doesnt seem to have been a standing army. The end of Angkor came in the mid-14th century  and was partly brought about by a change in religious belief in the region, from Hinduism and High Buddhism to more democratic Buddhist practices. At the same, an environmental collapse is seen by some scholars as having a role in the disappearance  of Angkor. Road Systems among the Khmer The immense Khmer empire was united by a series of roads, comprised of six main arteries extending out of Angkor for a total of ~1,000 kilometers (~620 miles). Secondary roads and causeways served local traffic in and around the Khmer cities. The roads which interconnected Angkor and Phimai, Vat Phu, Preah Khan, Sambor Prei Kuk and Sdok Kaka Thom (as plotted by the Living Angkor Road Project) were fairly straight  and constructed of earth piled from either side of the route in long flat strips. The road surfaces were up to 10 meters (~33 feet) wide and in some places were raised to as much as 5-6 m (16-20 ft) above the ground. The Hydraulic City Recent work conducted at Angkor by the Greater Angkor Project (GAP)  used advanced radar remote sensing applications to map the city and its environs. The project identified the urban complex of about 200-400 square kilometers, surrounded by a vast agricultural complex of farmlands, local villages, temples and ponds, all connected by a web of earthen-walled canals, part of a vast water control system. The GAP newly identified at least 74 structures as possible temples. The results of the survey suggest that the city of Angkor, including the temples, agricultural fields, residences (or occupation mounds), and hydraulic network, covered an area of nearly 3,000 square kilometers over the length of its occupation, making Angkor the largest low-density pre-industrial city on earth. Because of the enormous aerial spread of the city, and the clear emphasis on water catchment, storage, and redistribution, members of the GAP call Angkor a hydraulic city, in that villages within the greater Angkor area were set up with local temples, each surrounded by a shallow moat and traversed by earthen causeways. Large canals connected cities and rice fields, acting both as irrigation and roadway. Archaeology at Angkor Archaeologists who have worked at Angkor Wat include Charles Higham, Michael Vickery, Michael Coe and Roland Fletcher; recent work by the GAP is based in part on the  mid-20th-century  mapping work of Bernard-Philippe Groslier of the École Franà §aise dExtrà ªme-Orient (EFEO). The photographer  Pierre Paris  took great strides with his photos of the region in the 1920s. Due in part to its enormous size, and in part to the political struggles of Cambodia in the latter half of the 19th century, excavation has been limited. Khmer Archaeological Sites Cambodia:  Angkor Wat, Preah Palilay, Baphuon, Preah Pithu, Koh Ker, Ta Keo,  Thmà ¢Ã‚  Anlong,  Sambor Prei Kuk, Phum Snay, Angkor BoreiVietnam:  Oc Eo,  Thailand:  Ban  Non Wat,  Ban Lum Khao, Prasat Hin Phimai, Prasat Phanom Wan Sources Coe MD. 2003.  Angkor and the Khmer Civilization. Thames and Hudson, London.Domett KM, OReilly DJW, and Buckley HR. 2011.  Bioarchaeological evidence for conflict in Iron Age north-west Cambodia.  Antiquity  86(328):441-458.Evans D, Pottier C, Fletcher R, Hensley S, Tapley I, Milne A, and Barbetti M. 2007.  A new archaeological map of the world’s largest preindustrial settlement complex at Angkor, Cambodia.  Proceedings of the National Academy of Sciences  104(36):14277-14282.Hendrickson M. 2011.  A transport geographic perspective on travel and communication in Angkorian Southeast Asia (ninth to fifteenth centuries AD).  World Archaeology  43(3):444-457.Higham C. 2001.  The Civilization of Angkor. Weidenfeld Nicolson, London.Penny D, Hua Q, Pottier C, Fletcher R, and Barbetti M. 2007.  The use of AMS 14C dating to explore issues of occupation and demise at the medieval city of Angkor, Cambodia.  Nuclear Instruments and Methods in Physics Research Bà ‚  259:388–394.Sanderson DCW, Bishop P, Stark M, Alexander S, and Penny D. 2007.  Luminescence dating of canal sediments from Angkor Borei, Mekong Delta, Southern Cambodia.  Quaternary Geochronology  2:322–329. Siedel H, Pfefferkorn S, von Plehwe-Leisen E, and Leisen H. 2010.  Sandstone weathering in  tropical  climate: Results of low-destructive investigations at the temple of Angkor Wat, Cambodia.  Engineering Geology  115(3-4):182-192.Uchida E, Cunin O, Suda C, Ueno A, and Nakagawa T. 2007.  Consideration  on  the construction process and the sandstone quarries during the Angkor period based on the magnetic susceptibility.  Journal of Archaeological Science  34:924-935.

Critical analysis of a qualitative study Research Paper

Critical analysis of a qualitative study - Research Paper Example The clinical or medical impact that healthcare team members can derive from continued exposure to facial transplantation led to the study. The research problem relates to the fact that no conclusive research explores the personal, professional, and ethical experiences and perceptions of the healthcare team members who have participated in facial transplant procedures, whose attitudes and experiences may consequently influence patient care (Evans, 2013). Therefore, the study seeks to address this knowledge gap using an ethical approach. Notably, we should care about this study as it derives the knowledge on the experiences and perceptions of healthcare team members on caring for facial transplantation patients, using an ethical framework (Evans, 2013). The study established that facial transplantation required a different approach than the other organ transplants. Indeed, the study reckons that unlike other transplants, which take one direction, health care givers, and patients partic ipating in facial transplantation need collectively intense physical, emotional, psychological, and spiritual care (Evans, 2013). The study established that clinical participants experience a high level of responsibility since they must do it perfectly. However, the study notes that most clinical participants were hesitant and uncertain about the success of facial transplantation due to the complexity of the process (Evans, 2013). Nevertheless, all participants in the study welcomed the moral obligation to transform the patients’ lives through facial transplantation and hence they had to develop confidence, teamwork, discipline, and perfection to succeed in this process. The study notes that healthcare team members involved in facial transplantation meet ethical, psychological, and clinical challenges, which they have to overcome for the process to succeed (Evans, 2013). The study establishes the financial burden and long-term effects that health members derived from facial t ransplantation. These findings relate to the clinical problem (Shanmugarajah et al, 2012). Purpose and Research Questions The purpose of the study is to explore the experiences of healthcare team member in caring for facial transplantation patients, using an ethical framework (Evans, 2013). The qualitative study had relevant research questions that it sought to answer. The research questions included: What were the experiences of the healthcare team members in caring for patients undergoing facial transplant surgery? What are some of the ethical, personal, and professional impacts that health caregivers derive from continued exposure to facial transplantation? How do healthcare team members meet ethical, psychological, and clinical challenges in facial transplantation? How did the ethical, personal, and professional experiences and perceptions by the healthcare team members affect patient care in facial transplantation? Notably, the research purpose and research questions had a corr elation with the research problem. This is evident where the research purpose and research questions address the research problem by leading to a research that explores the personal, professional, and ethical experiences and perceptions of the healthcare team members who have participated in facial transplant procedures, whose attitudes and experiences may consequently influence patient care

Role of Mergers & Acquisitions in Organizational Change Research Paper

Role of Mergers & Acquisitions in Organizational Change - Research Paper Example It happens when an organization wants to enter into a new market or wants to lower the cost of production. Other organizations use this method to increase their market share in the market. This report demonstrates the crucial role played by the merger and acquisition in organizational change. Thesis Mergers and acquisitions play a vital role in the organizational change. This role can be developed if it is highlighted and addressed adequately. Introduction Definition Organizational change is the process by which a company or organization goes through change with an aim of remaining more relevant and achieve its goals within the right time, (Cassiman & Colombo, 2006). This change occurs when there is a change in business strategy, when an organization wants to rebrand or when there is a major change in parts the entire organization. These changes are important for an organization to remain relevant in the dynamic market field. The process of organizational change involves making bold changes and it may also involve expansion of the organization. Mergers and acquisitions play a major role in the process of organizational change. The issue of acquisition and mergers involves having a corporate strategy in matter to do with buying, selling and division of companies, (DePamphilis, 2008). This involves companies with similar entities coming together in the process of merger and agreeing on terms and condition of operation. A merger is slightly different from an acquisition. Takeover Acquisition is also known as take over. This process involves buying of the entire business entity. This may end up expanding the company that has bought the business entity, (Finkelstein 2010). Nature of acquisitions The term consolidation refers to a union of two or more companies to form a new joint business initiative. This means that none of the tow companies can survive independent of each other. It is also know n as merger of companies. We have both private and public acquisitions. The key point here is that acquisition and merger are done as part of the company’s strategy either in venturing into a new market of remaining relevant and expansion of the organization. If the target company has been listed in the stock exchange then it’s not a public acquisition acquisitions can either be public or private, (Mikael & Jani, 2011). Acquisitions can also be classified as hostile or friendly. The process of acquisition is very detailed and involves many steps. This is why studies show that 50 per cent of the acquisitions done are successful while others are not. In other words, acquisitions are difficult to achieve. The acquisition is perceived either as friendly or hostile depending on how the idea of buying the target company is communicated. In friendly cases, the negotiations are done in private that every deal is based on mutual agreement with the companies involved. In case of the hostile acquisitions the target company’s boards of directo rs are caught unawares. The company is sold without their knowledge, (Mikael & Jani, 2011). Hostile acquisitions can end up being friendly acquisitions with time. This happens due to improved terms of agreement after the procurement process. When we talk about acquisition, we are referring to a large company or organization procuring a small company. There are instances where the smaller company acquires the control of