Social Psychiatry and Psychiatric Epidemiology †Free Samples

Question: Examine about the Social Psychiatry and Psychiatric Epidemiology. Answer: Intrtoduction: This paper puts accentuation on the three parts of how mental issue are seen by the average folks, by their own and by the clinicians. Biogenetic depictions are identified with vilifying perspective of the general public. In any case, the discoveries from the co-social just as the test assessments proposes that biogenetics portrayals really partner to diminish the propensity to denounce the people with mental disarranges for their own issues however a growing inclination to see them as compromising and erratic. The blended gifts model has been portrayed which accentuation chiefly on the clarification of biogenetics and further branches to attribution of wildness and mental essentialism. Attribution of wildness was further clarifying the lessened fault and then again, mental essentialism clarifies want for social separation, prognostic negativity and saw risk for the intellectually cluttered. Along these lines on the off chance that the confinements are to be thought of, at that point it very well may be said that nobody can divert their back from confronting the reactions of the biogenetic standpoint to the psychopathology. What should be possible is to battle essentialist misinterpretations of neuroscience and mental hereditary qualities that can lead an approach to isolate the biogenetic depictions and the current disfavor. Ultimately, the inadmissible impacts of the biogenetic clarifications can be changed by just teaching the general public on bioscience. To dispose of the pessimistic generalizations that the general public has for the individuals with emotional well-being issues both the particular results of biogenetic and psychosocial portrayals of mental manifestations are surveyed in this article. It was in New Zealand that the negative observations were that are found somewhere else are reproduced here. In any case, it has been seen that the wellbeing experts of Australia are progressively negative towards the intellectually sick then the basic open. Destigmatization battles attempts to cause the general population to follow that individuals experiencing seriously troublesome mental issues are sick similarly as the person who is enduring with some ailment. The chose test for this specific investigation is undergrad arithmetic understudies from a college of New Zealand. Be that as it may, two surveys for every member were made before hand and they were made to watch a video where an intellectually hostility depict their indicatio ns. Not long when this video the members need to fill this poll, which will gauge their disposition towards the intellectually debilitated. All things were scored so that the higher the quantity of score the portrayal of the negative demeanor will likewise be higher. In any case, this examination guarantees that New Zealand as scarcely any different Nationalities keep certain negative perspectives for the intellectually sick. In this article, it has been discovered that the shame identified with the dysfunctional behaviors blocks the treatment utilized and this may additionally decline the effectively extensive social just as mental weight that has been forced by side effects of psychological sickness. In spite of the fact that there has been a tremendous rehashed endeavors that has been taken to diminish the shame of psychological maladjustments, in this manner the negative demeanor has been proceeded or have compound the cases over the most recent ten years of time. Audits on this theme in the past has just surveyed that various legendary restrictions are there that are seen as hosing the advancement in this circle. From this article, there are sure extra issues that are identified with costly disgrace decreasing points of view, heterogeneous foundations and excessively restricted inquiries identified with this exploration has been talked about in an intensive way. In any case, here are sure proposals t hat are accommodated again centering this circle of work by developing the inquiries identified with this examination, starting clear builds and by including certain surrender yet significant investigation from the populaces. The result of this article further tends to the theoretical difficulties in the examination of dysfunctional behavior shame that can assist with ad libbing the aims and in a superior manner serve the individuals experiencing mental anguish. The reason for this article it has been expected that the biogenetic irregular models can for the most part extemporize the open perspectives towards the people experiencing psychological maladjustments. It anyway looks at that attributions of biogenetics are related decidedly with the grasping of those people who are enduring by these sorts of disarranges. For this specific point, there has been an overview in the populace that was led in two major urban areas of Germany. The respondents were offered with a portrayal of youthful females who are experiencing anorexia nervosa or bulimia nervosa that has been trailed by a full-sorted out meeting that remembers the inquiries for easygoing attributions, the enthusiastic responses of the members and the desire for social separation. The outcome further expresses that attribution to the genetic components shows scarcely any relationship with perspectives in regards to people who goes with the side effects of dietary issue. Further expressi ng that the members who are supporting mind illnesses as an inception that is tended more to grasp those harrowed that are liable for the conditions. Be that as it may, the members were seen as progressively inclined to negative feelings and have a more grounded preference for social separation. In this way, the thought has not been upheld that biogenetic easygoing models of dietary issues to diminish the disgrace yet rather it can expand the danger of involving it. References Angermeyer, M. C., Mnich, E., Daubmann, A., Herich, L., Wegscheider, K., Kofahl, C., von dem Knesebeck, O. (2013). Biogenetic clarifications and open acknowledgment of individuals with eating disorders.Social psychiatry and mental epidemiology,48(10), 1667-1673. Casados, A. T. (2017). Lessening the Stigma of Mental Illness: Current Approaches and Future Directions.Clinical Psychology: Science and Practice. Haslam, N., Kvaale, E. P. (2015).Biogenetic clarifications of mental issue: The blended gifts model.Current Directions in Psychological Science,24(5), 399-404. Walker, I., Read, J. (2002).The differential viability of psychosocial and biogenetic causal clarifications in diminishing contrary perspectives toward mental illness.Psychiatry: Interpersonal and Biological Processes,65(4), 313-325.

Poor Boys Blimp essays

Poor Boys Blimp papers There used to be a young man that experienced childhood in the Brooklyn ventures. He was very poor. Some how he figured out how to have a portion of the better things of life like a treadmill and an out of date PC from the 80s. His deep rooted dream was to possess a $650 Lead Zeppelin remote controlled airship. He approached his folks consistently for a long time if he could have it and each time they would state no they couldnt manage the cost of it. So on the young men fourteenth birthday celebration he proceeded to go after a position at the neighborhood Nathaniels. In the wake of conversing with the chief Steve and landing the position he ran home and told his folks that he began the work tomorrow. The following day the when he got the chance to work he glanced around and saw Steve was gone. He asked another specialist where Steve was. The specialist reacted he was terminated for being excessively dumb. The kid snickered and returned back to work. Following quite a while of hard work he at last made $600 of the $650 he required for the dirigible. On his way home one day he saw another store. He read the stores name Iraqi Pete Discount plutonium and models. So just being human he strolled in to glance around. The second he strolled in he was encircled be a green gleam that was so splendid it would put a helicopters searchlights to disgrace. After his eyes acclimated to the sparkle he saw the storekeeper eating pineapples and sitting in front of the TV clearly. The proprietor of the store heard the entryway shut and went to the kid and made proper acquaintance. The kid being affable made proper acquaintance also. The proprietor inquired as to whether there was a sure thing he was searching for. The kid inquired as to whether he had a Led Zeppelin remote control zeppelin. The man said yes we do well there in the corner. So the kid expressed gratitude toward him what's more, strolled to the corner and his eyes lit up more splendid than the radiation from the plutonium. It was the dirigible for $600 tax-exempt. The kid inquired as to whether the zeppelin was truly $600 ... <!

Books To Read During Womens History Month

Books To Read During Womens History Month This is a guest post by Alice Burton. Alice is an opera singer and a ladies history enthusiast. She writes about books, history, and the undervaluing of Meghan Trainor at Reading Rambo. Follower her on Twitter @alice_sings. ____________________ Its March and therefore Womens History Month. What a perfect month to make us realize the long hard struggle is not yet over, and also to read up on the women who helped us get where we are today. For some reason, American womens history seems to begin and end with Elizabeth Cady Stanton and Susan B. Anthony. But there is more! So much more! We are grateful for Seneca Falls, but we must remember those before it who helped bring the movement to that point, and those after it who took the Seneca Falls spirit and ran with it. Heres some material thatll help you sound like someone who knows the deep cuts of womens history, starting in the late 18th century and ending in the present: 18th Century Revolutionary Mothers: Women in the Struggle for Americas Independence by Carol Berkin Women’s roles in the Revolutionary War have been almost erased from history. Berkin proves that women were, in fact, integral to the formation of America. On the Equality of the Sexes by Judith Sargent Murray Even Abigail Adams’s thoughts on women’s rights were only expressed in letters. Judith Sargent Murray’s poem and brief essay were published in 1790, a full two years before Wollstonecraft’s A Vindication of the Rights of Woman. 19th Century Declaration of Sentiments by Elizabeth Cady Stanton Stanton’s radical “We hold these truths to be self-evident: that all men and women are created equal” set the tone for the women’s rights movement for the next 160 years. Discourse on Woman by Lucretia Mott Famed abolitionist and women’s rights advocate Lucretia Mott co-organized the Seneca Falls Convention. In Discourse on Woman, she argues, using biblical and historical references, that the case against woman is a feeble one at best. Aint I A Woman by  Sojourner Truth 130 years before bell hooks’s From Margin to Center, Sojourner Truth reveals the shocking truth that not all women are upper middle class and white. Crusade for Justice by Ida B. Wells Journalist Ida B. Wells led a national anti-lynching campaign, organized a black boycott of the 1893 Columbian Exposition, and forced the integration of the 1913 Woman Suffrage Parade. Crusade for Justice is her 1928 autobiography. Woman, Church and State by Matilda Joslyn Gage Gage was a radical feminist of the mid-1800s who criticized the Church and fought for the rights of Native Americans. In Woman, Church and State, she outlines how women have been oppressed by the Church and patriarchy. A Wheel within a Wheel: How I Learned to Ride the Bicycle by Frances Willard As longtime president of the Women’s Christian Temperance Union (WCTU), Willard’s concept of Home Protection popularized the idea of suffrage by deradicalizing it. Here she pushes women to get out of doors and participate in life. It could be described as the 19th century Lean In. 20th Century Alice Paul and the Battle for the Ballot by Mary Walton If you’re going to read about one person involved in the 20th century’s fight for suffrage, read about Alice Paul. Now We Can Begin: Whats Next? by Crystal Eastman Written immediately after the ratification of women’s suffrage in 1920, Eastman’s call to continued action begins “Men are saying perhaps ‘Thank God, this everlasting womans fight is over!’ But women, if I know them, are saying, ‘Now at last we can begin.’” The Myth of Womens Inferiority by Evelyn Reed This 1954 essay discusses prehistoric women’s roles as chemists, tanners, textile-makers, and architects. The Master’s Tools Will Never Dismantle the Master’s House by Audre Lorde Lord advocates bringing all voices to the table, noting that difference “must be not merely tolerated, but seen as a fund of necessary polarities between which our creativity can spark like a dialectic.” The Creation of Patriarchy by Gerda Lerner A study that argues that patriarchy is not part of the natural order. Lerner looks at history, literature, and archaeology, and puts a date on patriarchy’s creation. This Bridge Called My Back, Cherríe Moraga and Gloria E. Anzaldúa, ed. An anthology by women of color, This Bridge Called My Back was an early step in focusing on voices that have been marginalized in the feminist and LGBT movements. How to Suppress Womens Writing by Joanna Russ Russ lays out the subtle and insidious ways in which women’s contributions to literature are discouraged, minimized, or denied. Mankiller: A Chief and Her People by Wilma Mankiller Wilma Mankiller was the first female chief of the Cherokee Nation and received the Presidential Medal of Freedom in 1998. Mankiller is her autobiography. Riot Grrrl Manifesto by Kathleen Hanna The Riot Grrrl movement of the ‘90s cleared a larger space for women in the punk world. Its manifesto, by Bikini Kill singer Kathleen Hanna, famously proclaims that it exists because “we are angry at a society that tells us Girl = Dumb, Girl = Bad, Girl = Weak.” 21st Century Full Frontal Feminism by Jessica Valenti Valenti’s guide helped reclaim the word “feminist” and make the movement’s ideals accessible to a new generation. Dudes, Relax: The Rise Of Women Does Not Mean the Fall of Men by Lindy West Former Jezebel staff writer Lindy West’s casual style and brusque assertions may polarize her readers, but they are all, nevertheless, still reading her. *Thanks to Hilary McGraw from the National Women’s History Museum for her inestimable help and delightful conversation. Editors Note: Audre Lordes name was originally misspelled, and has been corrected. ____________________ Want more bookish goodness, news, posts about special book deals, and the occasional puppy reading pic? Follow us on Facebook: Save Sign up for True Story to receive nonfiction news, new releases, and must-read forthcoming titles.

Drug Abuse And Its Effects - 904 Words

There are many programs provided in Australia and many other countries that have a high success rate. These are the programs that should be modeled after for the simple fact that they work and provide long term effects for the patients in most cases. In regards to drug treatment programs, we have a lot of work to do. In reality, the ideal thing would be to start from scratch and move on, but that is not reality. Something needs to be done and fast or the issue will only get worse. Drug abuse has a stigma that follows it and this stigma is not good. It s very negative. People label drug users/abuser very negatively and this is not motivating for the person to go get help. They will do what the label says that they are capable of. The first step, that needs to be taken to even start improving the drug treatment system is to try to get rid of this stigma. People have to realize that just like anyone else with a medical issue, people with drug abuse issues also have a serious problem and they need help. Instead of shunning them out of our society and telling them that they do not belong or fit, they need to be included and told that they matter and can function in society. There needs to be more of a positive view on this issue and instead of putting people down, we need to help them get up and this is probably yah most difficult piece we encounter. It s hard to change people and their views on an issue. Once you think one thing, it s is very hard to change a thought process.Show MoreRelatedEffects Of Drug Abuse905 Words   |  4 Pagesfocusing about drug abuse, in terms of how it affects the body and the sufferer’s life around them, what factors make you more susceptible to drug abuse and what advice and support groups available to help those suffering from drug abuse, and eventually hope to meet my aim of raising awareness of the issue of drug abuse and the support groups in the local area -Aberdeenshire-. The report was requested by lecturer Antony Togne ri at Nescol College by the 17th November 2017. What are Drug: Drugs are substancesRead MoreDrug Abuse And Its Effects1701 Words   |  7 PagesDrug abuse has been an issue since before the 20th century. Various artists, such as Elvis Presley and the Rolling Stones were addicted to drugs in the 1960s and 1970s. Today, in the 21st century, substance abuse is more common. Drug abuse can affect people in various aspects of life. In the following paragraphs you will read about circumstances that lead to drug abuse, how the environment that one lives in can promote drug use, how drug abuse affects people in different stages of their livesRead MoreDrug Abuse And Its Effects1907 Words   |  8 Pageshave been many drugs created over the years to help lessen or diminish sicknesses. However, there are people that have abused these drugs to reach a certain high and this is considered abuse. The people that do this could do it out of boredom or curiosity. Some may even feel that it will help them escape from the problems that they are faced with or fill a void in their life. No matter what the reasoning is for them the outcome remains the same. The body becomes used to the drugs they are abusingRead MoreDrug Abuse Effects1320 Words   |  6 PagesDrug abuse is a major public health issue that impacts society both directly and indirectly; every person, every community is somehow affected by drug abuse and addiction and this economic burden is not exclusive to those who use substance, it inevitably impacts those who dont. Drugs impact our society in various ways including but not limited to lost earnings, health care expenditures, costs associated with crime, accidents, and deaths. The use of licit or illicit drugs long term, causes millionsRead MoreDrug Abuse And Its Effects1391 Words   |  6 Pages1. Introduction: Drug abuse is a serious issue in today’s society. Drug abuse is a pattern of using a substance (drug) that leads to a serious problems or distress. 7% of people experience drug abuse one point of their lives. Drug use doesn’t automatically lead to drug abuse, it depends on how much you use. There is no specific level to were drug using moves from casual to becoming a serious problem. 2. Types of drugs/what are they: There are three main types of drugs that people use and theyRead MoreDrug Abuse And Its Effects1391 Words   |  6 Pages1. Introduction: Drug abuse is a serious issue in today’s society. Drug abuse is a pattern of using a substance (drug) that leads to a serious problems or distress. 7% of people experience drug abuse one point of their lives. Drug use doesn’t automatically lead to drug abuse, it depends on how much you use. There is no specific level to were drug using moves from casual to becoming a serious problem. 2. Types of drugs/what are they: There are three main types of drugs that people use and theyRead MoreThe Effects Of Drug Abuse On Society Essay1136 Words   |  5 Pageshave all felt the effects of drug abuse. In other words, whether it affects an individual directly or indirectly every person has seen or felt the negative effects of drug abuse in our society. The ultimate question, is why does such an abounding amount of Americans abuse illicit drugs, and how does it affect us as a nation? Moreover, something such as this doesn t occur for without a distinct cause, there must be something occurring in our society that creates these illicit drug abusers. CorrespondinglyRead MorePrescription Drug Abuse And Its Effects952 Words   |  4 Pagesâ€Å"Prescription drug abuse is the use of a medication without a prescription, in a way other than as prescribed, or for the experience or feelings elicited.† Prescription Drugs are ranked number two in drugs abused (Volkow 7). The most common prescription drugs abused are opioids, central nervous system depressants, and stimulants. Opioids were meant to treat pain. CNS depressants are meant to treat sleep disorders and anxiety. Stimulants treat sleep disorders, narcolepsy and ADHD (unknown 8) WhatRead MoreThe Effects Of Drug Abuse On Adolescents957 Words   |  4 Pageslead adolescents into addiction or drug abuse. Research shows that teenagers are at increased risk of poor mental health, antisocial behavior and risk-taking behavior such as substance misuse (Raising Children Network, 2014). Drug abuse can be the abuse of any drugs without necessarily becoming dependent on the other hand drug addiction is the inability to stop using the drug whereas it becomes a cyclic dependency that takes over the individual life. Drug abuse is a voluntary action that can laterRead MoreThe Effects Of Drug Abuse On America1350 Words   |  6 PagesDrug abuse in America is evidently a huge problem, yet remains to be mis understood by many people. Elizabeth Foy Larsen writes a strong, informative article about a young woman named Brittany who has fallen to drug abuse. Brittany was a drug free, well rounded student with great potential just like many other young adults in America. However, one occasion flipped her life completely upside down. She had gotten her wisdom teeth removed and received prescription medication to reduce her pain. She soon

A Piece Of Paper And Years Of Schooling - 1286 Words

A Piece of Paper and Years of Schooling Does Not Define Success It is forced in the minds of students since the very beginning of their scholastic journey, in order to achieve the favorable and prosperous end goal of endeavors or â€Å"to be hired by Bill Gates† (Slouka, 4), a degree is a requirement. A college degree is simply a documentation, in other words a degree is a piece of paper confirming one met a certain level of pedagogic achievement. Nowadays, a college degree or post-secondary education is not synonymous with a stable income or secure job. Not to mention, people decide to take learning into their own hands and self-educate themselves. Too add on, education and professional accomplishments are not directly related to each other as†¦show more content†¦Not to mention, many students pay a considerable amount of money to earn their post-secondary education and degree, yet still struggle a great deal in the work field along side those without an additional four years of education. That leaves students questioning the wor th of education, perhaps degrees or certifications are not worth the paper they’re published on. According to Nona Willis Aronowitz, â€Å"nearly half of people ages 16-29 do not have a job† (2). The key reason many of these jobseekers are out of luck is for the reason that school professors are speaking at their students rather than teaching them. The job market requires practical application rather than knowledge, however, schools fail to give students that hands-on experience and that is why â€Å"more than a million young graduates are currently unemployed† (Johnston, 2). In addition, colleges and universities are simply educational institutions; these institutions are established to teach young minds but a few teachers in an ancient building cannot force students to learn, each individual makes that decision. Therefore, post-secondary does not guarantee success because memorizing information and listening during lectures has no significance, it is how indiv iduals apply that knowledge that truly counts. With

The Malaysian Issues of Teens and Sexuality Free Essays

The Malaysian issues of teens and sexuality. Teen pregnancies have been a virus that recently sprung out in Malaysia; it is only more recently that we have seen the growth and its severity affecting the youth. Are Malaysian teen not receiving enough sex education causing the statistic to rise even further? This question how teen pregnancy has evolved and how times have changed bringing upon a serious social issue. We will write a custom essay sample on The Malaysian Issues of Teens and Sexuality or any similar topic only for you Order Now To begin, the statistic provided by Ministry of Health (MOH) published by The STAR newspaper (22th September 2012), there are 18,532 pregnant teens age ranged from 10-19 years old in the year 2011. There are 4222 that were unmarried. It is more than 30 % pregnant teens that were unmarried. The statistics also show a drastic rise between the number of pregnancies and unwed teenagers. As teenager become more sexually active, doctors and the MOH are sounding over the increase in the rate; we often ask is having â€Å"it† worth it? Most sexual activity that happens to teenagers below 20 years old, leads not only to unwanted pregnancies but also cases like baby dumping and also illegal abortion. Getting pregnant is only the beginning; there would be more decision to make and choices to choose from further down the road. Pregnancies among teenager mostly begin with the talk of sexual activity. According to the article â€Å"Porn story service a teen bestseller† complied by Winnie Yeoh of The Star Online, the Malaysian teenager get erotic contents on their phones. as the world moves to a modern era, the youngsters were subscribing to an Indonesian pornographic story on their smart phones for RM 17 a week. They would gather and talk about it while feasting on the dirty pictures. This is one of the reason why more and more of them would fall into the teenage pregnancy trap. When interviewed, Rosli (not his real name) states that they were unaware of the consequences of free sex and not using contraception. The social change that leads to this is most of the time related to a change in the nature of adolescence. At the age of 10-19, most of the teenager reaches the level of puberty and curiosity to try out sex rages. Some violated the use of the internet to search and research on the term â€Å"sex†. Others may find alternative to satisfy their need thru pirated cd and magazines. Many problems arise from the curiosity of teenager towards the topic of sex. They How to cite The Malaysian Issues of Teens and Sexuality, Papers

Product service system free essay sample

More and more researchers, institutes and programmes have paid attention to product-service ystems (PSSes) in the last decade because PSS integrates tangible artefact and intangible service to achieve sustainability, improve enterprise competitiveness, and meet customer needs better. In order to respond to the industrial trend towards PSS and frame the related research, the state-of-the-art of PSS research and development are reported. Furthermore, in order to integrate fragmental PSS solutions, this paper proposes a framework for product-service lifecycle management (PSLM) and technologies of PSS development. So, four categories are focused on: review of PSS, esearch about PSS development, a framework for PSLM, and technologies for PSLM (modular product-service development and ontology-based productservice knowledge expression and reuse). The preliminary solution of the implementation roadmap and technologies for PSLM which need to be perfected is proposed to lay a basis for further development and application of PSS for the benefit of industries. Keywords: product-service systems (Psses); product-service lifecycle management; PSS development; modular product-service development 1. We will write a custom essay sample on Product service system or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Introduction Since the early 1990s, the driver in our economy has been changing from production f material goods to product-service offers based on knowledge and information (Roy and Baxter 2009). The service proportion of output and profits in manufacturing enterprises are increasing. It has become an important trend in the manufacturing industry that service is used to enhance the competitiveness of businesses as well as an important source of values (Sheehan 2000, Mont 2003). There are mainly two manifestations, the first is manufacturing companies are more and more focused on the service in the design or development phase; the second is manufacturers xpanding their activities to the entire lifecycle of the physical products. As a response to this trend, more and more enterprises are beginning to take this service-oriented model of manufacturing, and there are already a lot of successful examples. Rolls Royce offers Total Care Package and Power by the Hour rather than transterring ownership ot the gas turbine engine.

The Prince Niccolo Machiavelli

The Prince Niccolo Machiavelli During the Renaissance, the political situation of Italy consisted of instability, invasion, fear, intrigues, and violence. Several powerful families established their territories and ruled authoritatively. The Prince provided a practical direction to Lorenzo Di Medici to operate in this unstable political environment. According to Machiavelli, the republic was the best form of government as opposed to an authority of the prince.Advertising We will write a custom essay sample on The Prince Niccolo Machiavelli specifically for you for only $16.05 $11/page Learn More Therefore, Machiavelli proposed some advice for a new prince, who wanted to govern a state to prosperity. These pieces of advice would ensure that the prince remained great and powerful. Machiavelli’s work provided practical solutions to Lorenzo in a turbulent political environment. Unfortunately, Lorenzo did not concur with Machiavelli’s suggestions. Machiavelli looks at how an auth oritarian ruler can achieve a great success if he changes his authoritarian style. The Prince offers advice on how Lorenzo can expand the empire, keep people from all territories loyal to him, and conquer new territories. According to Machiavelli, Lorenzo could not afford to repeat past mistakes that divided Italy, and he had to learn to use both good and bad styles when running the kingdom. Machiavelli offers two ideal views on principality: these are how to win and hold power. He notes, â€Å"Either through fortune or through strength†, (Machiavelli 6) are the main ways by which rulers can achieve principalities. This implies that people can only achieve power by overthrowing others or inheriting it from the family. From the Renaissance perspective, Machiavelli showed that moral or ethical issues were not important in a quest for power. When a ruler overthrows another one, wars happen and people die. Thus, Machiavelli showed that killings were appropriate means of gaining p ower. Once a ruler has conquered a territory, he must â€Å"ensure that the previous ruler has no heirs† (Machiavelli 9). In addition, a new ruler must not change existing laws or introduce new taxes. Machiavelli argues that the new ruler should maintain the previous lifestyle people had so that many people can like him. This was the only way for the new ruler to establish hereditary domains. Subjects have the duty to remain loyal to their rulers so that leaders can maintain power. The purposes of maintaining loyal subjects are to help the ruler keep power and join militia and fight for the ruler. However, this raises the issue of how Machiavelli viewed ‘subjects’. According to Machiavelli, rulers only needed subjects to maintain their power and protect their kingdoms. Machiavelli did not foresee moral and ethical issues that his work would raise. However, these issues have been the epitome of The Prince. The work provided practical advice in a politically volati le society. However, both ruthless rulers and business individuals have used Machiavelli’s concepts (Machiavellian) to justify their actions, which view winning as the ultimate goal.Advertising Looking for essay on biography? Let's see if we can help you! Get your first paper with 15% OFF Learn More Machiavelli offered his advice on qualities the prince needed in order to run a new kingdom. He wrote: â€Å"Since a ruler, then, needs to know how to make use of beastly qualities, he should take as his models among the animals both the fox and the lion, for the lion does not know how to avoid traps, and the fox is easily overpowered by the wolves. So you must be a fox when it comes to suspecting a trap, and a lion when it comes to making the wolves turn tail† (Machiavelli 54). This indicates that a ruler should be cunning than his subjects or those who may wish to overthrow him. As a result, the subject shall protect their strong ruler, fear him fo r his strength, and avoid any attempts to kill him. This leads us to the argument of whether it ‘is it better for a Prince to be loved or feared?’ According to Machiavelli, a Prince should be both (Machiavelli 51). However, the challenge is to maintain both love and fear simultaneously. Machiavelli argues for both fear and love because a Prince needs obedience and loyalty from his people and people must fear the Prince because he has the responsibility to control and run the kingdom. Machiavelli notes: â€Å"I conclude, then, that, as far as being loved and feared is concerned, since men decide for themselves whom they love, and rulers decide whom they fear, a wise ruler should rely on the emotion he can control, not on the one he cannot. But he must take care to avoid being hated, as I have said† (Machiavelli 53). Machiavelli supports the use of military to gain power and protect the kingdom. However, he does not support oppression. His views emanate from the no tion that a good military power leads to a good rule of law. He supports this idea by stating, â€Å"The presence of a sound military force indicates the presence of sound laws† (Machiavelli 65). Machiavelli is right to advise the Prince that the subjects’ loyalty is a good defense than a structure a fortress. Machiavelli notes that leaders should have positive public opinions, have support of subjects, and achieve their objectives. The ultimate objective is to unite different states.Advertising We will write a custom essay sample on The Prince Niccolo Machiavelli specifically for you for only $16.05 $11/page Learn More Machiavelli does not encourage leaders to be cruel for personal gains. Instead, he wants leaders to use their power and influence to protect their kingdoms and subjects. Thus, most people have misunderstood Machiavelli’s concept of â€Å"The end justifies the means. This is because Machiavelli believed that rulers coul d use brutality to capture, but will eventually lose their glory. Therefore, he believes that the Prince can only achieve loyalty, obedience, and trust if he does not cruelties on his subjects. However, the concept was justifiable if there were clear objectives to achieve for the benefit of the state. Machiavelli viewed humans as objects of gaining power and using it to maintain power. In addition, human subjects provided numbers for authorities, which were suitable for achieving power and money by using force for the interest of the state. Machiavelli considered human subjects as â€Å"fickle and ungrateful† (Machiavelli 52). The Prince showed that Machiavelli’s main concern was how to run a kingdom rather than moral and ethical issues, which came with such responsibilities. Thus, Lorenzo had not moral or ethical obligation to be correct. However, Machiavelli reflects the raw life of the Renaissance in which States benefited from atrocities. Machiavelli remains a cont roversial figure. He knew that some of his views were not right. For instance, he viewed subjects as objects of acquiring and keeping power, considered people as ungrateful, and raised issues of fear or love among others. From Machiavelli’s point of view, the ruler could apply these techniques during his time of need in order to defend his throne. The true purpose of Machiavelli remains defined as succinct ideals for running a prosperous kingdom in a volatile political situation. Therefore, Machiavelli did not advocate for brutality. It is advisable for a ruler to have advisers in order to manage a kingdom effectively. According to Machiavelli, a good leader had to possess proper skills in order to select good advisers. The works of such competent advisers are to provide competent responses and honest advice to specific issues.Advertising Looking for essay on biography? Let's see if we can help you! Get your first paper with 15% OFF Learn More In addition, such advisers have to put the state first before their self-interests (Machiavelli 22). In return, the prince must reward and honor such characters because of their unshakable services. On the other hand, bad leaders were likely to surround themselves with incompetent people, who only revealed their weaknesses. Private morality and ethics have other factors too, such as personal character, state duties, and divine approvals. However, it is only reactions from humans, which count in real-life situations. This explains why Machiavelli insists that a leader needs to achieve the best reputation among his subjects, and do whatever is appropriate and wrong for the prosperity of the state in a given circumstance. Therefore, rulers must be cunning, generous and must inculcate a reputation of honesty (Machiavelli 18). According to Machiavelli, rulers can disregard moral obligations in affairs of kingdoms. Thus, the only relevant issue is the important outcome for the kingdom. It is suitable for rulers to engage in deceit, murder, and other immoral acts for the benefit of their states. These ideologies of Machiavelli gave rise to the concept of Machiavellian, which implies being â€Å"crude, cunning, and deceitful. This is exactly how Machiavelli thought the new prince should act† (Machiavelli 63). This is why Machiavelli notes that, in the absence of a court of law, one should only rely on the result in order to make a judgment. However, Machiavelli had a strong belief in the need to have a strong ruler so that kingdoms could maintain their power for benefits of subjects rather than for individual interests. Machiavelli, Niccolo. The Prince. Shelbyville, KY: Wasteland Classics, 2011. Print.

Differences Between Compilers and Interpreters

Differences Between Compilers and Interpreters Before the Java and C# programming languages appeared, computer programs were only compiled or interpreted. Languages like Assembly Language, C, C, Fortran, Pascal were almost always compiled into machine code. Languages like Basic, VbScript and JavaScript were usually interpreted. So what is the difference between a compiled program and an Interpreted one? Compiling To write a program takes these steps: Edit the ProgramCompile the program into Machine code files.Link the Machine code files into a runnable program (also known as an exe).Debug or Run the Program With some languages like Turbo Pascal and Delphi steps 2 and 3 are combined. Machine code files are self-contained modules of machine code that require linking together to build the final program. The reason for having separate machine code files is efficiency; compilers only have to recompile source code that have changed. The machine code files from the unchanged modules are reused. This is known as making the application. If you wish to recompile and rebuild all source code then that is known as a Build. Linking is a technically complicated process where all the function calls between different modules are hooked together, memory locations are allocated for variables and all the code is laid out in memory, then written to disk as a complete program. This is often a slower step than compiling as all the machine code files must be read into memory and linked together. Interpreting The steps to run a program via an interpreter are Edit the ProgramDebug or Run the Program This is a far faster process and it helps novice programmers edit and test their code quicker than using a compiler. The disadvantage is that interpreted programs run much slower than compiled programs. As much as 5-10 times slower as every line of code has to be re-read, then re-processed. Enter Java and C# Both of these languages are semi-compiled. They generate an intermediate code that is optimized for interpretation. This intermediate language is independent of the underlying hardware and this makes it easier to port programs written in either to other processors, so long as an interpreter has been written for that hardware. Java, when compiled, produces bytecode that is interpreted at runtime by a Java Virtual Machine (JVM). Many JVMs use a Just-In-Time compiler that converts bytecode to native machine code and then runs that code to increases the interpretation speed. In effect, the Java source code is compiled in a two-stage process. C# is compiled into Common Intermediate Language (CIL, which was previously known as Microsoft Intermediate Language MSIL. This is run by the Common Language Runtime (CLR), part of the .NET framework an environment that provides support services such as garbage collection and Just-In-Time compilation. Both Java and C# employ speedup techniques so the effective speed is almost as fast as a pure compiled language. If the application spends a lot of time doing input and output like reading disk files or running database queries then the speed difference is barely noticeable. What Does this Mean to me? Unless you have a very specific need for speed and must increase the frame rate by a couple of frames per second, you can forget about speed. Any of C, C or C# will provide sufficient speed for games, compilers, and operating systems.

The Hunger Games Essay Example | Topics and Well Written Essays - 1000 words

The Hunger Games - Essay Example The young characters have been depicted as heroes and heroines when some of them are seen reflecting on happier moments in the past, a good example being the main character, Katniss. This essay will critically analyze the book, giving a breakdown of the main ideas found in each of the chapters. In the first chapter, the author introduces Katniss Everdeen, the narrator and the main character. The teenage girl sets out on a gathering and hunting expedition with her friend Gale as they await for the reaping in the afternoon. Katniss has been forced to take part in a fighting tournament against other teenagers. The government has forced children to fight each other to death on TV, the winner taking home prizes. The fights are usually broadcasted to the entire world. Katniss does not enjoy the fights, but she kills with a lot of professionalism and finesse, just to stay alive. From the story in the book, it can be analytically noted that the author has used Katniss to show a transformatio n from a difficult life to one where she experiences pleasure. Katniss lived a life that was full of poverty and suffering. Due to her efforts in hunting and gathering, she used her skills to later enjoy her life by experiencing pleasures which she never knew of before. These pleasures include pretty clothes, food and warmth. However, it is important to note that the author has not in any way depicted sexual pleasure. This shows that the book is very chaste and non-erotic, making it very appropriate for its target audience, young adults (Grossman 1). The story also focuses on the life of a teenage girl who gets stung to death by a mutant swarm of hornets. The author has used violence in a very hypnotic way, unlike other books on violence which tend to be very repellent. This is because violence has been used amidst a fairy tale, making the book very unique. The violence is not merely a cheap thrill. It is something deeper in the sense that the author condemns violence and the action s that take place in the arena but invites readers to enjoy the violence that has been narrated in the story (Sperling 1). ‘The Hunger Games’ exposes children readers to the violence against which society tries so hard to shield them. The author uses this strategy to show adults that they should not forget their experiences as children. They wanted to enjoy the same things against which they are shielding the children. The author supports the fact that children are not stupid, and they are physical creatures. This makes them aware of the fact that violence raw emotions, power and violence exist. The author is really saddened by the fact that adults choose to pretend that these things are not in existence and that children should not know about them (Grossman 1). The book is a bloody, horrifying and chilling one because of the violence depicted through the actions of the characters. The author shows a lot of bloodshed and ruthless killing, especially among children. The setting of ‘The Hunger Games’ is an unspecified time in the future, where such violence seems to be the order of the day (Grossman 1). This shows just how bad the author thinks things will be for humanity in the future. The world that the author has depicted is one whereby a ruling caste dominates the people. In the story, this ruling caste lives in a city known as Capitol (Sperling 1). The rest of the vulnerable population that is being dominated by

Wall Mart's Strategic Planning Case Study Example | Topics and Well Written Essays - 1500 words

Wall Mart's Strategic Planning - Case Study Example Simultaneously Walton set up two other enterprises called Ben Franklin franchises and Wall - Mart Discount City. The former expanded into 15 more stores by 1962. In 1969 the company became Walt Mart Stores inc. with 15 Ben Franklin stores, 18 Wall Mart spread through out Oklahoma, Kansas, Arkansas and Missouri. To-day with combined revenue reaching to 44 billions and spread through out the 42 central and southern states the company has 1720 Wall-Marts, 208 Sam's Whole sale club, and 6 Wall Mart Supercentres in addition to two stores in joint ventures in Mexico. The company has a strategy of identifying areas with under population of 50,000 to open a store and gradually expanded by setting up distribution centres at some place closer to the store with a view to facilitate supply to all the other stores also within a day. The excellent success of the company is considered to be the result of 19 such distribution centres today. The other factor of the success of the company is treating the employees as associate partners having access to complete information about the costs, freight charges, and profit margin. The associates play a major role in the overall and individual success of stores and achieving the company's goals. It will be worthwhile to note here that each of the stores operates independently of the other. This kind of relationship in the organization components known as "pooled interdependence". If there is poor customer service at one store and how the customers view it will have ripple effect on the Wall-Mart as a whole. Basis of establishment of the Strategy: The management of the company prominently relies on the goals achieved. It is treated as a part of the planning process. The top management provides guidelines about the profits and growth. These become the basis of setting of goals. The individual stores provide their own inputs as they have their own annual goals to achieve. However, specific tactical goals are evolved at the division and the stores level. These are then forwarded to the top corporate level for further dissemination, evaluation and measurement for formulating a strategic over all policy. It will be interesting to note a typical target set for an annual goal: Opening 160 new stores; 45 new Sam's Whole sale clubs; 12 - 15 new Wall Mart Super centre; Increasing sales to more than 54 billions; Pursuing a "Buy American" plan to give preference to stocking merchandise manufactured in the United States. The individual stores have a target to achieve a sales increase of 10% over the previous period. Once the goals are established the process of action planning is commenced to provide an outline as to how the goals are to be achieved. It is done at every level. The associates also get a share of the profit above the goals set for every stores. Monitoring: Throughout the year goals achieved are monitored as laid out. But if the Wall Mart has not been satisfied of the result those stores are sold out. The Ben Franklin stores were closed in 1976 and Wall Mart stores were replaced with it. A chain of Helen's Arts and Crafts, the DOT discount drug chain met the same fate. Despite all the evaluation, assessment, dissemination of the in formations and monitoring quite a few of the ventures have failed. Financial aspect: Of interest

Conflict in August Wilsons Fences and How it Affects the Work Essay ex

Fences, by August Wilson, is a drama that focuses on the characteristics of black life in the mid to late twentieth century and the strains of society on African Americans. Set in a small neighborhood of a big city, this play holds much conflict between a father, Troy Maxson, and his two sons, Lyons and Cory. By analyzing the sources of this conflict, one can better appreciate and understand the way the conflict contributes to the meaning of the work. The first conflict in this play develops between Troy and his 34-year old son Lyons. This conflict is introduced when Lyons appears at the house on Troy?s payday to borrow 10 dollars, an occurrence that is common at the Maxson household. Although Troy knows that he will let Lyons have the money, he harasses Lyons over the issue saying, ?...The only time I see this nigger is when he wants something. That?s the only time I see him.? The source of this conflict lies in Troy?s experiences and attitude toward the black cause. Troy is the victim of a generation with limited opportunities in the industrial world and toils everyday to support his family and stay on top of his struggle for survival. Troy has come to believe, from his experiences, that blacks cannot get something for nothing and that life does not owe blacks anything. Due to this, Toy ?fences in? everything that he loves to protect his possessions from the monster of society. Thus there is a symbolization of Troy building a physical fence in the yard but building an emotional fence of protection around his family and friends. He believes that blacks owe it to themselves to make an honest, hard-earned living and that is the only way to survive. Troy states sarcastically that Lyans is blowing his... ... and Rosa will do regarding their relationship. The couple face each other here and admit truths that they have seldom ever talked about and Rosa stands up to Troy realizing that he is imperfect and full of flaws. This conflict jeopardizes Troy and Rosa?s relationship and digs a whole in which they never truly overcome. This conflict emphasizes Troy?s weakness and Rosa?s strength and dignity. In the drama Fences ,by August Wilson, Their is much conflict entangling a black family living in the twentieth century. This conflict involves Troy trying to live his life through his sons, Lyans and Cory, while trying to keep them from making the same mistakes in life that he did. Also, there is conflict including Troy and his young daughter Raynell. By looking at the root of this conflict, one can better grasp the contribution it makes to the drama.

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Learning Module 3 Connor MacLeod 100254620 The first video, The Solar Nebular Theory, describes the planetary formation through a collapsing cloud of dust and gas that spins in the same direction at a fast pace. Through angular momentum, as it collapses even more, it speeds up and flattens into a disk. As it flattens, the materials start to come together and planets start to form as well as a young star is created in the middle. What I liked about the video is how they used good analogies such as the pizza and the figure skater to get the idea of angular momentum across.What I didn’t like about the video is how they didn’t go more in depth about the other bodies that are created around the star. To make it better I would’ve used our solar system as an example in order to relate to it better The 2nd video is the Planetisimal video. It goes on to describe how particles grow by condensation, the process of adding matter to an atom or molecule. Once they get to a big enough size, the particles start to stick to others through a process called accretion. Planetisimals continue to grow by colliding and sticking to others until it gets large enough to turn into a protoplanet.The stage where iron falls to the core and heat is generated while lighter materials stay on the outside to create the earths crust. What I did not like about the video is how they do not specify how long it takes for it to turn into a protoplanet from a planetisimal. The woman talks about millions of years to get to the diameter of the particle to centimeters until they start to collide, but lacks the information of how long the collisions take to get bigger. They could improve the video by adding these details into it.What I liked about the video is how it goes in depth about protoplanets and the gravitational collapse as the textbook had me somewhat confused. The 3rd video is the extra solar planets. It is about how to detect planets outside of our solar system that gravita te around other stars. They don’t try and find planets directly, they observe the stars in which they believe planets gravitate around and watch how the star reacts. The way they can measure this is through the Doppler affect. As the planet gravitates around it, it pulls the star in different directions.So when a star comes towards you, its light gets compressed, and when it is moving away, the light waves get stretched. What I liked about the video is the way they illustrated how the Doppler affect worked with visuals as oppose to the dog theory in the textbook. That being said, what I didn’t like about the video was how they focused solely on detecting planets through the Doppler affect, I would improve upon this video by not leaving out the other approach of detecting the difference in light when a planet moves in front of it.The 4th video is about meteorites. It discuses how meteoroid’s cause meteors, that is until it reaches the ground and are renamed to me teorites. It then describes how each meteorite is classified by its composition. Each different composition inside a meteorite allows geologists to identify their space origins. What I liked about the video is how they discussed the different kinds of meteorites and the significance of different compositions of the meteorites. What I didn’t like is how they did not touch upon meteor showers and different meteor showers.To improve this video I would’ve included some facts of the Perseid meteor shower. The 5th video is about asteroids. It discusses how Italian astronomer Piazzi discovered the first asteroid. Now there are over 100,000 asteroids that lay in the asteroid belt near mars and Jupiter. They also describe the reason the asteroids are in the belt could be due to a planet that never formed. The pull of Jupiter’s gravity kept the particles accelerating so fast, they could never accrete.What I liked about the video is how it spent the most time discussing wh y the asteroid belt exists as that caught my attention the most in the textbook, where its only mentioned briefly. What I didn’t like about the video is it didn’t discuss the shapes and size of the asteroids themselves. To improve this video I would’ve added some interesting facts from the textbook such as some are asteroids are 200km in diameter. The 6th video is about comets. It talked about how civilization was influenced from comets and the association of comets to earth through eligious or mythological oriented societies and how they were viewed as a bad omen. What I did not like about this video is how it did not describe at all what a comet is, or what it is made up of. They could make this video better by discussing the basics of a comet, not just the historic significance it played on our societies. That being said, what I did like about this video is the telling of how it played a role in our societies that if something bad happened, and a comet was in the sky, it started to be associated with each other.

Social Tourism Film Induced Tourism - 1324 Words

Sightseers today are more experienced and searching for new destinations and new experience. Destination Marketing Organizations (DMOs) have been aggressively pamper the visitors necessities to expand their piece of the overall industry despite the fact that their assets are exceptionally restricted. In the tourism business, there has been a developing wonder that travelers visit destinations included through movies which are not specifically identified with DMOs tourism advancement. This is another type of social tourism called film-induced tourism. Late research recommends that movies can have solid impact on visitor choice making and movies don t just give fleeting tourism income however long haul thriving to the destination. A few DMOs have immediately taken these points of interest and have effectively expanded the quantity of voyagers through the enchantment of movies. (Sue Beeton, 2005) Forms Characteristics of Film Induced tourism FORMS CHARACTERISTICS Film-induced tourism as part of a main holiday Sight seekers will visit movie location or book a tour for a holiday without any previous destination knowledge Film-induced tourism as a main purpose out of special interest The booking of a Holiday to a destination as a consequence of its profiles on the screen Film-induced tourism icons as focal points of visit Nature, places related to history. Film-induced tourism to places where filming is only believed to have taken place Tourists visiting the locationShow MoreRelatedEconomic Impact Of Tourism On Economic Impact On Tourism3097 Words   |  13 Pagesliterature on economic impact of tourism has been depicted throughout this review to explore the methodologies used and their uses in estimating the economic impact of tourism. 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We Don t Play With People Of Your Color - 921 Words

Young girl starts a new school far away from her old one. As she sits down, she looks around the room to notice students examining her while they whisper to one another. Being a new student, she just figured they wanted to know more about her. But come to find out, they didn’t care to know more about her, the students were making fun of her because her skin color was different from theirs. At recess a group of girls stood their gossiping amongst each other when the young girl walked up to them to ask if they wanted to play. The group of girls looked at the young girl in disgust and replied â€Å"we don’t play with people of your color†. Not knowing what to say, the young girl quietly walked to the door, crying and just wanting the comfort of her mother. Minority students in school being bullied is a problem that can be overcome by educating people about racism and making them aware of their own actions. 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White Collar And Organized Crime Essay - 900 Words

White Collar And Organized Crime In the twentieth century, White Collar and Organized Crimes have attracted the attention of the U.S. Criminal Justice System due to the greater cost to society than most normal street crime. Even with the new attention by the Criminal Justice System, both are still pretty unknown to the general public. Although we know it occurs, due to the lack of coverage and information, society does not realize the extent of these crimes or the impact. White Collar and Organized is generally crime committed by someone that is considered respectable and has a high social status. The crimes committed usually consist of fraud, insider trading, bribery, embezzlement, money laundering, identity theft or forgery. One†¦show more content†¦They also increase the drug trafficking and pay off corrupt officials by extortion or intimidation which helps them continue their operations. Although the FBI is unsure of how much impact there is, they estimate it to be around $1 trillion a year, globall y. The FBI has created an organized crime program that focuses on the crimes and criminal enterprises that are creating the greatest threat to America. They have three units which are focused on La Cosa Nostra, Italian organized crime and racketeering. Also included are Middle Eastern, Asian and African criminal enterprises. The framework of the program is based on pursuing targets that have ties to national and international criminal enterprises and breaking them down; relying on flexibility to aid in pursuing organized crime by regions that are conducting racketeering activities. They have also partnered with people globally to assist in information during investigations. Italy and Hungary are included in this partnership. By partnering with other countries, tackling these groups of people becomes easier. One of the largest Organized crime bust occurred in 2011. Close to 130 members of the New York City Mafia were arrested along with other East Coast cities. The Bonnanno, Colombo, Gambino, Genovese and Luchese were all part of the New York’s five families. Members of each of the five families were arrested to include some of theShow MoreRelatedWhite Collar Crime And Organized Crime1805 Words   |  8 PagesIntroduction: This paper explores white collar crime and elaborates on the types of organized crimes through the analysis of case studies. Furthermore, I will also discuss the differences and similarities between professional crime and organized crime. White collar crime is the use of deceptive acts to solely benefit oneself, often leaving many victimized. Within this paper, I explain which theories best clarify why individuals partake in these criminal behaviors, and preventative methods. 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Culture, Values and Communications Free Essays

We live in the humanity of demanding worldwide rations. We comprise the aptitude to communicate with the populace thousands miles apart at the flicker of an eye. Though this looks and is, to nearly all, a splendid supremacy to be appreciated, it can be for a few a world bewilderment and aggravation started by their own observations and values. We will write a custom essay sample on Culture, Values and Communications or any similar topic only for you Order Now These obstacles to culture assortment subsist because of the ways in which dissimilar cultures ease acuity and values concerning other and themselves. Culture can be depicted as the arrangement through which communication can be invented and sporadic. Culture pacts with the manner people live. Culture is well-read through perception that is shaped in a variety of ways, where we are born and hoisted, the language we study, the people and the surroundings with which we exist and the psychosomatic spur we stumble upon. Reasonably, with the intention of successfully converse with other customs, we should first see the sights to which we pledge to recognize the ways that we present obstacles distinguish culture variations. Culture usually refers to guides of human bustle and the figurative arrangements that give such actions significance and magnitude. Cultures can be â€Å"understood as classifications of signs and gist that even their maker’s challenge that is short of preset limits, that are continuously in fluctuation, and that interrelate and contend with one another† Culture can be cleared as all the ways of life as well as arts, beliefs and institutions of a inhabitants those are approved down from generation to generation. Culture has been called â€Å"the manner of life for a whole civilization. † As such, it comprises rules of etiquettes, outfit, language, religious conviction, customs, and games, norms of behavior such as law and ethics, and schemes of belief as well as the art. Great societies often have subcultures, or factions of group with separate sets of manners and beliefs that distinguish them from a larger culture of which they are a component. The subculture may be idiosyncratic because of the age of its members, or by their race, traditions, class, or sexual category. The traits that establish a subculture as divergent may be artistic, spiritual, professional, opinionated, sexual or a mixture of these factors. Local cultures of the world arise equally by realm and ethnic group and more largely, by bigger regional distinctions. Resemblances in culture frequently happen in geologically close by peoples. Many regional cultures have been prejudiced by get in touch with with others, such as by colonization, trade, migration, mass media, and religion. Culture is vibrant and changes over time. In doing so, cultures attract external influences and amend to altering surroundings and technologies. Thus, culture is reliant on communication. Local cultures alter swiftly with new communications and transportation technologies that permit for better movement of people and thoughts among cultures. An individual and cultural worth is a relative ethic value, a supposition upon which execution can be extrapolated. A value system is a set of constant values and procedures. A standard value is a base upon which other principles and procedures of honesty are based. Values are considered slanted and differ across people and cultures. Types of values comprise ethical/moral norms, doctrinal/ideological (political, religious) values, communal values, and artistic values. It is debated whether some values are inherent. Individual principles develop from conditions with the external world and can alter over time. His reliability in the application of values refers to its permanence; persons have reliability if they relate their values fittingly regardless of arguments or negative fortification from others. Values are applied suitably when they are practical in the correct area. For example, it would be suitable to concern religious values in times of contentment and in times of desolation. Personal values developed early in life perhaps opposed to modify. They may be derivative from those of meticulous groups or systems, such as customs, religion, and political party. Nevertheless, personal standards are not widespread; one’s relations, inhabitants, generation and chronological surroundings help settle on one’s personal values. This is not to utter that the value perceptions themselves are not collective, simply that each individual have a sole origin of them i. e. an individual acquaintance of the suitable values for their individual genes, manners and skills. Values are linked to the customs of a civilization, but they are more broad and conceptual than norms. Norms are set of laws for deeds in particular circumstances, whereas values recognize what should be umpired as fine or awful. Flying the national flag on a festival is a custom, but it reveals the value of loyalty. Wearing dark clothing and emerging somber are normative behaviors at an interment. They imitate the values of reverence and sustain of associates and relatives. Communication is the procedure of stabbing to pass on information from a dispatcher to a recipient with the use of a means. Communication entails that all parties have a region of forthcoming harmony. There are aural means, such as speaking, singing and at times tenor of voice, and nonverbal, substantial way, such as body language, sign lingo, paralanguage, touch, eye contact, or the use of testing. Communication is cleared as a procedure by which we allocate and express sense in an effort to generate communal accepting. This procedure needs an enormous inventory of talents in intrapersonal and interpersonal dispensation, listening, examining, communicating, inquiring, investigating, and assessing. Use of these processes is developmental and moves to all areas of life residence, school, society, employment, and afar. It is through communication that association and assistance arise. How to cite Culture, Values and Communications, Papers

Skills for Future Management-Free-Samples-Myassignmenthelp.com

Question: Identify three areas where you need to Develop your skills for future Management and Leadership. Answer: Managers and the aspiring managers have to develop their future management and leadership skills to be able to lead their departments and carry on their managerial responsibilities efficiently. An efficient manager is required to have several attributes like efficiency, time management capabilities and team leadership competencies. These skills are dynamic and the managers keep on developing them with time. Since the managers take the major organisational decisions, their efficiency and capabilities are important for the organisations to achieve business excellence. Development and enhancement of managerial skills are continuous processes and managers keep on enhancing them while carrying out their managerial responsibilities. They can enhance their skills by getting mentored by the senior managers on continuous basis. The aspiring managers can also take initiatives like attending seminars and attending training sessions to develop managerial skills in them which they can enhance aft er joining organisations. Skills of the effective managers are considered one of the most important assets of the present and future organisations. There are several areas of business like finance, marketing and human resource management. These areas are crucial for smooth business operations and require specific skills and competencies from the managers. The skills are important to the business organisations and their managers because they help the managers to achieve high degrees of performances which ultimately contribute to business excellence(Goetsch and Davis 2014). Excellent communication skills, capability to understand the market trends, focus on improvement of the employee productivity and the power to lead the organisational changes when required are some of the skills of effective and efficient managers. The managers can develop their skills which contribute towards their high managerial capabilities and competencies in a variety of mentoring and training methods. The first step towards development of effective managerial skills in the management courses which instil the basic competencies of managers like communication skills. The companies provide training to the junior managers to develop managerial qualities like leadership among them. The senior managers mentor the junior managers to enhance their managerial skills and competencies(DuBrin 2015). The people who aim to become professional managers can attend conferences and seminars on management to enhance the managerial lessons they learnt during pursuing management degree courses. The dynamic changes in the global corporate scenario requires the managers to develop the basic managerial skills like analysing problems, decision making and communication skills during the management degree courses. The management students can participate in the conferences and seminars to learn about the new trends in the corporate sector. They can also visit management firms and talk to professional managers as a part of their curriculum to develop management skills(Johnston and Marshall 2016). These initiatives would help to develop managerial and leadership skills which would make them competent entry level managers. Time management profile refers to the efficiencies of the managers to manage and execute multiple tasks accurately and efficiently. The managers are required to have the capabilities to manage time and distribute it among various duties and ensure execution of all the duties effectively. The managers can manage their time and organise it among the several responsibilities and priorities like attending meetings with senior managers and mentoring the team members(Hackman and Johnson 2013). Time management is not only an important managerial competency but also an important quality of leader. Efficient time management necessitates the managers to plan their actions and communicate the plans to the people concerned like team members to ensure successful execution of their plans within time. Time management is an important managerial and leadership quality and require mentoring. It is a skill which managers develop while carrying out their professional responsibilities like execution of business plans set by the senior managers and the management. The managers receive training and induction from the human resource after they join organisations. These training sessions educate the managers about their job responsibilities, how to achieve the target performances and time management. It can be pointed that managers develop the skill of time management skills to a greater extent while carrying out their professional responsibilities. The senior managers mentor the junior managers to manage time, set priorities, deal with situations when the available time is very less and so on. It must be pointed out that time management is a managerial skill which requires a lot of mentoring from senior managers(Paustian-Underdahl, Walker and Woehr 2014). Time management is a managerial and leadership skill and the management degree courses contribute greatly towards development of this skill. Managers as leaders of various organisational departments and required to lead their subordinates towards attainment of business targets assigned to them by senior managers. This requires them to master the skill dividing the total targets into components which have to be accomplished with specific time frame. The management schools educate the managers on the various ways of time management like executing the multiple job responsibilities on the basis of priorities. This time management education developed by future managers during their management courses help them becoming multitasking and efficient managers in the future(Charlier et al.2016). Team leaders in organisations like managers lead employees towards achievement of business targets which makes their skills important for high organisational performances. The managers need to have multiple team leader skills like strong communicational capabilities, planning, strategy making, motivating and conflict management. These skills are important because they enable managers to lead their team towards achieving of business targets within the specified limit of time. They allocate the job responsibilities among the team members based on the skills, qualifications and eligibilities of the individual team members. They are required to coordinate between their team members and handle conflicts among them to ensure continued productivity. Thus the skills of the managers to lead groups of subordinates towards achievement of business targets contribute towards achievement of overall business targets of the organisations. Thus, the high level of competencies and skills of the manage rs ensure achievement of organisational business targets(Griffin 2013). The team leadership skills of managers play a very role in achievement of the organisational business targets and require a lot of mentoring of senior managers. The senior managers guide and train the junior managers about leading subordinates and dealing with conflicts. This mentoring is a continuous process and encourages leadership qualities among the managers. They help them to improve their efficiency standards like take more accurate business decisions, allocate the assigned target among the team members better and achieve more targets within specified time limits(Rosemann and vom Brocke 2015). The business management candidates who aspire to be managers can do a lot of things to develop their team leadership skills. They can read articles and watch videos based on corporate leaders like CEOs of multinational companies to develop their leadership skills. They can read books and attend seminars on leadership which would encourage leadership qualities in them. They can also work on their communication skills, analytical skills and decision making capabilities during their management courses to enhance their managerial leadership qualities(Burden et al. 2014). The managers play very important roles in operations of the organisations and leading them towards achievement of business goals. This requires the managers and the aspiring managers to develop and enhance their managerial qualities. The senior managers and the human resource departments in the organisations play very significant roles in mentoring and training the managers to develop their managerial skills. References: Burden, A.R., Pukenas, E.W., Deal, E.R., Coursin, D.B., Dodson, G.M., Staman, G.W., Gratz, I. and Torjman, M.C., 2014. Using simulation education with deliberate practice to teach leadership and resource management skills to senior resident code leaders.Journal of graduate medical education,6(3), pp.463-469. Charlier, S.D., Stewart, G.L., Greco, L.M. and Reeves, C.J., 2016. Emergent leadership in virtual teams: A multilevel investigation of individual communication and team dispersion antecedents.The Leadership Quarterly,27(5), pp.745-764. DuBrin, A.J., 2015.Leadership: Research findings, practice, and skills. Nelson Education. Goetsch, D.L. and Davis, S.B., 2014.Quality management for organizational excellence. Upper Saddle River, NJ: pearson. Griffin, R.W., 2013.Fundamentals of management. Cengage Learning. Hackman, M.Z. and Johnson, C.E., 2013.Leadership: A communication perspective. Waveland Press. Johnston, M.W. and Marshall, G.W., 2016.Sales force management: Leadership, innovation, technology. Routledge. Paustian-Underdahl, S.C., Walker, L.S. and Woehr, D.J., 2014. Gender and perceptions of leadership effectiveness: A meta-analysis of contextual moderators.Journal of applied psychology,99(6), p.1129. Rosemann, M. and vom Brocke, J., 2015. The six core elements of business process management. InHandbook on business process management 1(pp. 105-122). Springer Berlin Heidelberg.

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. We will write a custom essay sample on Crm in Hdfc Standards Life Insurance specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Crm in Hdfc Standards Life Insurance specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Crm in Hdfc Standards Life Insurance specifically for you FOR ONLY $16.38 $13.9/page Hire Writer Section 401- Financial statements are to be accurate and do not include incorrect statements or fail to include material information and in particular it should include off-balance sheet transactions/liabilities and obligations; 4. Section 404 – Management assessment of internal control- its adequacy and effectiveness – Auditors to report on efficiency of internal control structure and procedure for financial reporting 5. Section 406 – A code of ethics for senior financial officers 6. 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