The Presidency of FDR Essay Example For Students

The Presidency of FDR Essay In 1932, Americans understood that they had an inexorably extraordinary budgetary issue on their hands, and attempted to address it bycentralizing power. The President gained so much force that the country nearly turned into a socialism, particularly with Roosevelts presentation of the New Deal. At the point when Franklin Roosevelt became President of the United States in 1933, the country was in the profundities of the most noticeably awful sorrow it had ever experienced. President Roosevelt, a fiery and excited individual, enlivened the individuals with his own certainty and confidence later on. He accumulated a gathering of individuals sharing his perspectives to support him, and gave food, garments, and safe house for many jobless and neediness stricken Americans. This was a piece of what he called the New Deal, of which his three targets were alleviation, recuperation, and change for American residents. In another endeavor at recuperation, Congress endeavored to restore the countries farming and industry and spot the economy on a strong establishment. They printed additional cash to advance to businesses that immediately repaid it. By 1933 about 14 million Americans were jobless. Accordingly, the Roosevelt organization quickly propelled what appeared at an opportunity t o be a superb program of direct alleviation. In 2 years, government offices conveyed 3 billion dollars to the states. Notwithstanding, the individuals jobless needed occupations, not government assistance, subsequently the Works Progress Administration (WPA) appeared. This reestablished a portion of the lost positions. By 1936, the New Deal program confronted a huge and developing collection of restriction, some from inside the Democratic Party itself. Numerous pundits felt that the legislature was meddling a lot with the free undertaking framework, and in doing as such, was compromising independence and vote based system. This assimilation of intensity by the president is what is known as the Imperial Presidency. Before the finish of 1938, the restriction had become so solid that President Roosevelt chose to defer other enormous changes he had been thinking about. We will compose a custom paper on The Presidency of FDR explicitly for you for just $16.38 $13.9/page Request now Multitudinous boards of trustees were made to manage the issues of the time, and the President was in charge of every one of them. Allthis power that the President gained made the official branch become enlarged. World War II likewise provoked the administration to enroll many, numerous Americans into the military. Since the President has completecontrol over the military, a more noteworthy armed force gave him more force. The president additionally had authority over the government police. In any case, with all the assembling that needed to happen to suit for all the necessities of war, numerous new thoughts came without hesitation. So as to support the economy, power was promptly and fundamentally concentrated, and the legislature presented the strategies of cost besides, asset designation, wage value controls, and preclusion of strikes. Cost in addition to and asset distribution gave the administration much capacity to control businesses. The legislature would retain certain crude materials from organizations except if they were utilizing them to make war utilities. Be that as it may, in the event that they chose to concur with the administration, they could set the costs for their items and bring in additional cash. Compensation and value controls were another technique for the administration to support industry. The administration would build the cost for which a producer must sell his merchandise and the base wages admissible for various sorts of laborers. This fulfilled everybody on the grounds that the main individual enduring along these lines was the purchaser or for this situation, the administration. After the Second World War, a virus war with the Soviet Union started. President Roosevelt foreseen that this virus war would bankrupt the Soviet association in their attempting to exceed Americas weapon creation. Accordingly the United States needed to dispense quite a bit of its creation into yet more weapon assembling and examination. With the administration controlling all of Americas yield, economy, and industry, the country had moved from a free enterprise economy to about a communismAmericans social rights had likewise been altered in the commotion brought about by the Great Depression, World War II, and the Cold War with Russia. The social unrest during the 1960s satisfied numerous individuals, yet in addition gave superfluous capacity to the legislature, particularly the president. The Civil Rights Act of 1964 disavowed the privilege of states to pick who gets the chance to cast a ballot, and let the government choose. The Roe versus Wade case put authority over fetus remova l into administrative hands, and Brown versus the Board of Education let the national government control isolation in schools and different circumstances. The country has begun moving back toward the path from which it preceded World War II, however as of not long ago has not rearranged totally. Time and exertion, be that as it may, may move a portion of the administrations and presidents power procured during the 20s go into resident hands.

Ecommerce Essay Thesis Example For Students

Web based business Essay Thesis Web By: JB Communications Technology: Global Information Infrastructure jkylewalke Introduction We are amidst a worldwide data transformation driven by the combination and expansion of data and correspondence innovations. The media communications area is changing at twist speed, driven by mechanical development that outcomes in new gear and benefits, and furthermore by new contestants and unions between organizations with involvement with a wide scope of data businesses from media communications to broadcasting to PC equipment and programming to distributing. Three significant patterns are driving these changes: the quick presentation of new innovations and administrations; the rebuilding of the media communications part; and globalization of economies and of correspondences. Together these advancements are changing the universe of media communications, however the manners in which individuals work, learn, and cooperate. The Death of Distance The demise of separation as a determinant of the expense of interchanges will likely be the absolute most significant financial power forming society in the main portion of the following century. The passing of separation could have significant ramifications for the two people and associations. The capacity to work whenever, anyplace permits street warriors to work without workplaces on planes, in inns, and at customer locales, and empowers data laborers to work from home from their homes as opposed to making a trip to work. This adaptability can be two-edged for people, who can work any place they pick yet may never get away from the virtual work environment. Associations may lessen their overhead expenses and improve their efficiency, yet they should likewise figure out how to deal with their decentralized work power. One significant mechanical pattern is the augmentation of data superhighways as broadband systems; another is the expanding pervasiveness of correspondences utilizing remote innovations (that will, in any c ase, at first give access to spurts as opposed to surges of data). Individual correspondences systems utilizing microcellular innovation will permit individuals in urban regions not exclusively to chat on pocket-sized phones, yet to transmit and get information utilizing remote modems. In provincial and creating zones, these administrations might be accessible from low earth-circling (LEO) satellite frameworks. On a universal level, the passing of separation has significant ramifications for the globalization of enterprises and national economies. Rustic areas in Europe and North America may draw organizations with their wonderful condition and lower work costs; in any case, they are done contending just with urban communities in their own nations. Organizations may recruit data laborers in creating nations where work is far less expensive, for information passage and word preparing, yet for composing PC programs. On the other hand, creating nations currently end up contending in wo rldwide markets, where quality and reasonableness of items might be as significant as cost. Worldwide systems administration: Changing the geology of business Telecommunications arranges now interface makers with get together plants, creators with production lines, programming engineers with equipment sellers, providers with retailers, retailers with clients. Never again is it important to have all the mastery in house. Programming engineers in Silicon Valley whine that they are laid off while temporary workers transmit code from Russia and India. Independent originators would now be able to send garments designs legitimately to a mechanized article of clothing manufacturing plant. Clients can arrange anything from carrier passes to winter dress on the web and do their own banking and bill paying electronically. These patterns open doors for inventive business people the world over. For purchasers, they offer progressively decision and lower costs on the grounds that there is no ove rhead expense for deals assistants and request takers. However these progressions act dangers to conventional organizations like well as to representatives. Progressively, organizations that need to contend on cost should work more astute to lessen expenses and react to showcase changes, while others should reevaluate how to increase the value of pull in clients. Significant levels of client assistance and individualized consideration are probably going to turn out to be increasingly significant. As Wells Fargo found, a bank that offers help from a human twenty-four hours every day notwithstanding on the web electronic banking can draw in new clients. Also, PC merchants that offer free and simple to-arrive at client assistance might have the option to charge a premium, or if nothing else not lose clients to item discounters. The greater part the PCs in U.S. workplaces are connected to neighborhood (LANs). Progressively, organizations are additionally connecting into the Internet to arrive at partners in different associations, specific databases, and .u6bc23cfe2673eae8fcdb42c2dab792c4 , .u6bc23cfe2673eae8fcdb42c2dab792c4 .postImageUrl , .u6bc23cfe2673eae8fcdb42c2dab792c4 .focused content zone { min-tallness: 80px; position: relative; } .u6bc23cfe2673eae8fcdb42c2dab792c4 , .u6bc23cfe2673eae8fcdb42c2dab792c4:hover , .u6bc23cfe2673eae8fcdb42c2dab792c4:visited , .u6bc23cfe2673eae8fcdb42c2dab792c4:active { border:0!important; } .u6bc23cfe2673eae8fcdb42c2dab792c4 .clearfix:after { content: ; show: table; clear: both; } .u6bc23cfe2673eae8fcdb42c2dab792c4 { show: square; progress: foundation shading 250ms; webkit-change: foundation shading 250ms; width: 100%; murkiness: 1; change: obscurity 250ms; webkit-change: haziness 250ms; foundation shading: #95A5A6; } .u6bc23cfe2673eae8fcdb42c2dab792c4:active , .u6bc23cfe2673eae8fcdb42c2dab792c4:hover { darkness: 1; progress: mistiness 250ms; webkit-progress: haziness 250ms; foundation shading: #2C3E50; } .u6bc23cfe2673eae8fcdb42c2dab792c4 .focused content region { width: 100%; position: relative; } .u6bc23cfe2673eae8fcdb42c2dab792c4 .ctaText { outskirt base: 0 strong #fff; shading: #2980B9; text dimension: 16px; textual style weight: intense; edge: 0; cushioning: 0; text-embellishment: underline; } .u6bc23cfe2673eae8fcdb42c2dab792c4 .postTitle { shading: #FFFFFF; text dimension: 16px; text style weight: 600; edge: 0; cushioning: 0; width: 100%; } .u6bc23cfe2673eae8fcdb42c2dab792c4 .ctaButton { foundation shading: #7F8C8D!important; shading: #2980B9; fringe: none; outskirt range: 3px; box-shadow: none; text dimension: 14px; text style weight: striking; line-stature: 26px; moz-outskirt sweep: 3px; text-adjust: focus; text-enrichment: none; text-shadow: none; width: 80px; min-tallness: 80px; foundation: url(https://artscolumbia.org/wp-content/modules/intelly-related-posts/resources/pictures/basic arrow.png)no-rehash; position: total; right: 0; top: 0; } .u6bc23cfe2673eae8fcdb42c2dab792c4:hover .ctaButton { foundation shading: #34495E!important; } .u6bc23cfe2673eae8fcdb42c2dab7 92c4 .focused content { show: table; stature: 80px; cushioning left: 18px; top: 0; } .u6bc23cfe2673eae8fcdb42c2dab792c4-content { show: table-cell; edge: 0; cushioning: 0; cushioning right: 108px; position: relative; vertical-adjust: center; width: 100%; } .u6bc23cfe2673eae8fcdb42c2dab792c4:after { content: ; show: square; clear: both; } READ: Rough draft Essay

Negative outcomes of French Revolution Essay

All out breakdown of the economy, accounts, and capital. Hyperinflation crushed the economy, and nation needed to default on commitments and obligation. Enhancements occurred after Napoleon’s changes and by far reaching seizure of riches from Europe (for instance by approaching Austria to pay for a war reparations). Political agitation and horde brutality, counter-unrest, and common war made passing many thousands residents. Whole districts were eliminated by consume land strategies, and urban areas like Lyon demolished. It was the greatest flare-up of savagery in Europe between 30Y War and WWI. The outrageous measures during the emergency brought an enactment that finished vote based system and made first current extremist framework under Terror. Constitution was suspended inconclusively, and state executed far reaching legal homicides of its faultfinders and the rivals. Scholarly capability of the state was destroyed at the guillotine or by exile. One point, practically whole French institute was gone after for injustice in May/June 1794. Insurgency was contrarily taken by rest of Europe, which was hauled for a long time into alliance wars with France. <p

Honda Motor Company free essay sample

A gander at Hondas showcasing patterns from the mid nineties until today. Utilizing Honda Motor Company as a case examination, this paper inspects why the companys entrance into the United States showcase was effective. It takes a gander at the key issues which confronted Honda in the mid nineties and thinks about how this system was not quite the same as their methodology for European markets. The paper proceeds with how the financial patterns of the mid 90s influenced the organization and predicts what the future may hold. Hondas section into the United States was fruitful for a plenty of reasons. What makes Hondas achievement especially astounding is the way that Honda figured out how to endure and thrive in a generally fast casing of time in a vehicle industry that is known for its enormous capital prerequisites. One of the most significant elements that added to Hondas accomplishment in entering the United States showcase was its readiness to be forceful and face challenges, both as far as its structure, promoting, evaluating, and creation activities. We will compose a custom paper test on Honda Motor Company or on the other hand any comparative subject explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page Another reality that supported Hondas accomplishment in the United States advertise was its readiness to adjust to change, as prove by the way that Honda ordinarily redoes its models each 4-5 years.

The Real Reason for Washingtons Crazy Street Patterns

The Real Reason for Washingtons Crazy Street Patterns Watch out. Here comes the apocalypse once more. Watchers of the History Channels Ancient Aliens discovered that the insane streetmap of Washington, D.C. with its roundabouts and calculated roads, depends on heavenly routes, antiquated outsiders, and Luciferian New World Order. City organizer Pierre Charles LEnfant would be stunned to catch wind of this. Brought into the world August 2, 1754 in France, Monsieur LEnfant is most popular for planning the D.C. roadways of circles and spokes, a 1791 all-inclusive strategy that changed a fix of bog and farmland into the capital of the United States. Indeed, even today, quite a bit of Washington, D.C. with its wide streets and open squares follows LEnfants unique idea. Be that as it may, was LEnfants configuration motivated by Freemasonry, outsiders, and the mysterious - or possibly the methodical French Baroque styles of the day? The Historic American Buildings Survey (HABS) of the National Park Service has offered us the response. In reporting the criticalness of LEnfants plan, they state: The notable arrangement of Washington, District of Columbia - the countries capital - planned by Pierre LEnfant in 1791 as the site of the Federal City, speaks to the sole American case of a far reaching ornate city plan with an organized arrangement of transmitting roads, parks and vistas laid over a symmetrical framework. Impacted by the structures of a few European urban areas and eighteenth-century gardens, for example, Frances Palace of Versailles, the arrangement of Washington, D.C, was emblematic and creative for the new country. Existing pilgrim towns clearly impacted LEnfants conspire, similarly as the arrangement of Washington, thus, affected resulting American city planning.... LEnfants plan was amplified and extended during the early many years of the twentieth century with the recovery of land for waterfront parks, roads, and improved Mall, and new landmarks and vistas. A long time since its structure, the trustworthiness of the arrangement of Washington is to a great ex tent healthy - flaunting a lawfully authorized tallness limitation, finished parks, wide roads, and open space permitting expected vistas.- LEnfant-McMillan Plan of Washington, D.C. (The Federal City), HABS No. DC-668, 1990-1993, pp. 1-2 The Legends and Stories The genuine story of LEnfants configuration is one of expert urban structure - design arranging dependent on study and history. The succulent stories that were created may have started with bias. One of the first assessors of the District of Columbia was Benjamin Banneker (1731-1806), a free African-American. Banneker and Andrew Ellicott (1754-1820) were enrolled by George Washington to stake out the limits for Americas new capital, the Federal City. Since he knew somewhat about cosmology, Banneker utilized divine estimations to separate the fringes. A Black man utilizing the stars and the moon, alongside the Freemasonry of a portion of the Founding Fathers, and accounts of the mysterious and another legislature dependent on Satanism was sure to thrive. The road plan in Washington, D.C., has been spread out in such a way, that certain Luciferic images are portrayed by the lanes, parkways and rotaries, claims one connivance scholar writing in The Revelation. LEnfant shrouded certain o ccultic mysterious images in the format of the new capital, and together they become one enormous Luciferic, or occultic, image. In the event that this account of urban plan interests you, the speculations about extraterrestrials and propelled developments visiting Earth in old occasions might be of further intrigue. Were the roads of Washington, D.C. extremely antiquated runways for outsider spaceships? Look at the full arrangement from the History Channel to discover what other pandemonium the old outsiders were doing (Ancient Aliens DVD Box set, The Complete Seasons 1â€6). The McMillan Commission LEnfant had come to America to battle in the Revolutionary War, presenting with the Corps of Engineers of the Continental Army. His enthusiasm for Americas future was surely known by any semblance of George Washington and Thomas Jefferson, yet his turbulent hesitance to bargain didn't agree with the City Commissioners. LEnfants plan lived on, yet he was uninvolved with its turn of events and kicked the bucket poor on June 14, 1825. It wasnt until 1900 when Senator James McMillan led a commission that organized the vision of Pierre LEnfant. To understand the plans of LEnfant, the McMillan Commission enrolled theâ architects Daniel Burnham and Charles F. McKim, the scene designer Frederick Law Olmsted, Jr., and the stone worker Augustus St. Gaudens - every single popular figure in American structure at the turn of the twentieth century. Pierre Charles LEnfant is covered in Arlington National Cemetery, in a grave sitting above the city he planned however never figured it out. Sources Arlington National Cemetery site. arlingtoncemetery.mil/Explore/Notable-Graves/Prominent-Military-Figures/Pierre-Charles-LEnfantThe Revelation site, theforbiddenknowledge.com/chapter3/A Brief History of Pierre LEnfant and Washington, D.C., Smithsonian.comLEnfant-McMillan Plan of Washington, DC (HABS NO, DC-668, 1990-1993, inquired about and composed by Elizabeth Barthold and Sara Amy Leach), Historic American Buildings Survey, National Park Service, Department of the Interior at http://lcweb2.loc.gov/ace/pnp/habshaer/dc/dc0700/dc0776/information/dc0776data.pdf; The LEnfant and McMillan Plans, National Park Service [websites got to July 23, 2017]Image of Baroque road plan of 1791 Washington, DC structured by Pierre LEnfant from the LEnfant-McMillan Plan, HABS DC,WASH,612-(2 of 32), Library of Congress Prints and Photographs Division

Suicide Risk Among Alcoholics Increases With Age

Suicide Risk Among Alcoholics Increases With Age Depression Suicide Print Alcoholics Suicide Risk Increases With Age By Buddy T facebook twitter Buddy T is an anonymous writer and founding member of the Online Al-Anon Outreach Committee with decades of experience writing about alcoholism. Learn about our editorial policy Buddy T Medically reviewed by Medically reviewed by Carly Snyder, MD on January 26, 2020 facebook twitter linkedin Carly Snyder, MD is a reproductive and perinatal psychiatrist who combines traditional psychiatry with integrative medicine-based treatments.   Learn about our Medical Review Board Carly Snyder, MD Updated on February 14, 2020 D-Keine / Getty Images More in Depression Suicide Causes Symptoms Diagnosis Treatment Types Childhood Depression Information presented in this article may be triggering to some people. If you are having suicidal thoughts, contact the  National Suicide Prevention Lifeline  at  1-800-273-8255  for support and assistance from a trained counselor. If you or a loved one are in immediate danger, call 911. Drinking alcohol has been linked to a number of suicides and suicidal attempts. According to the Substance Abuse and Mental Health Service Administration, a diagnosis of alcohol misuse or dependence is associated with a suicide risk that is 10 times greater than those in the general population.?? Of those medically treated after a suicide attempt, alcohol use disorders were found to be a significant factor, with acute alcohol intoxication present in about 30% to 40% of cases.?? Now there is evidence that suicide risk among alcoholics increases as they become older as well. People with alcohol use disorder who are middle-aged and older are at a significantly higher risk for suicide compared to their younger counterparts. This could prove to be a significant factor for baby boomers, many of whom have substance use problems, as they begin to reach retirement age. Rates and Statistics for Suicide in the United States Increased Risk of Suicide The statistics are the result of a study published in  Alcoholism: Clinical and Experimental Research.??  Lead author Kenneth R. Conner, assistant professor at the University of Rochester Medical Center, notes that This was the first study of a sample of adults across the age spectrum that explicitly focused on factors that increase the risk for suicide and medically serious suicide attempts associated with ?alcohol dependence. For the purposes of the study, a medically serious suicide attempt was defined as one that required hospital admission for up to 24 hours. It also needed to meet one other criterion that described the type of treatment received. Data were gathered from medically serious attempters because they are a subgroup of suicide attempters who engaged in the especially dangerous behavior, suggesting a high intent to die, said Conner. Even if not successful the first time, he notes that the risk of dying in subsequent attempts is higher. Suicide Risk Factors and Warning Signs Age-Related Patterns In general, adolescents and young adults are at the highest risk for attempted suicides throughout the world. Yet, most of these attempts do not result in death. In contrast, though the attempts may be less frequent, men over age 65 are at the greatest risk for completed suicide. To researchers, this reinforced the idea that there are different patterns related to age and suicide. This finding was backed up by a later 2017 study that found an increase in suicide attempts in older people who did and did not have substance use problems.?? Among the concerns is the fact that the compounding life experiences of older alcoholics are not the same as their younger counterparts. Placing all ages into one group is not an accurate way to gauge the suicide risks of either alcoholics or non-alcoholics. Medically Serious Suicide Attempts The Rochester researchers examined data gathered by Annette L. Beautrais and colleagues for the Canterbury Suicide Project. This is a case-control study of suicides, medically serious suicide attempts, and randomly selected comparison subjects from the Canterbury region of New Zealand. All subjects in the study were 18 years of age or older: 193 (149 males, 44 females) had died by committing suicide; 240 (114 males, 126 females) had made a medically serious suicide attempt; and 984 (476 males, 508 females) were controls. Researchers compared demographic and diagnostic variables. Increased Vulnerability of Older Adults The results found that there is indeed a link between alcohol dependence and suicide becomes amplified with age.?? Increased age also amplified the association between mood disorders and suicide. Overall, researchers in this field continue to look at the associations between age, alcohol use disorder, and suicide. In addition to these factors, many experts note that mood disorders like depression must also be accounted for as they can also make older adults more vulnerable. It is believed that older adults with alcohol use disorder are at a higher risk of suicide because of the emotional and physical tolls their addictions take over the years. The results of these studies serve as a warning that anyone dealing with alcoholismâ€"their own or that of a loved oneâ€"should be aware of the warning signs of suicidal ideation and be prepared to get help. How You Can Help Prevent Suicide

Letter of recommendation 2 great books to help you in your college search

Thank you for checking in to the final post in my 3-part series on resources for creating your college list! So far, I have written about my top podcast and website suggestions that can help you on your college search . If this is your first time coming across my blog, you may want to go back and read up on those suggestions, as each resource is entirely unique. To wrap things up, I’m going to discuss my top two book recommendations to guide you in choosing schools. If you’d like something physical to highlight, dog-ear, and even pack with you on your college trips to take notes in, these sources are for you! â€Å"But wait,† you may ask, â€Å"why only two books?† Great question! Unlike the online databases I wrote about in my previous post, books, tend not to be as comprehensive or up-to-date as the online databases I previously wrote about. Also, although books have the added advantage of author’s point of view, they can also be more narrow, reflecting only that author’s point of view. Therefore, for this post, I’ve picked 2 books, which are both time-test and highly credible. I personally use these as supplements to the online databases I wrote about in my last post. The more information you can get your hands on, the better! Now†¦.let’s start turning pages! The Fiske Guide To Colleges Author: Edward Fiske The Fiske Guide To Colleges is a continuously updated guide of close to 400 schools, widely heralded for its no-nonsense tone and credible data. Offering cross-analysis of universities as well as an in-depth look at each school, this book is a must-have for every family embarking on the road to college. One of the most unique features of this guide is showcased in its table of contents. Not only are schools organized by location, but they are also organized by categories extremely relevant to the consumer: price range and the average debt accrued for attending students. Many families love the insight offered by these lists. Furthermore, for every featured university, the book delves into on-campus aspects beyond the academic, such as the quality of campus life, social environment, and student feedback. The guide also offers helpful advice for applicants that can aid both in your college search and in your application process. Some sections of note include a guide for pre-professionals - offering tips for specific fields from architecture to dance to engineering - as well as the application details for each university – with requirements for each school. Special bonus(es): One strong advantage to this book is the â€Å"overlaps† feature. In the write-up for each college, a list of similar universities will pop up. What makes a school similar to another school? Anything from location to student lifestyle to academic rigor that inspires the same kinds of students to apply for a comparable college experience. Why is this helpful? If you like a particular school, you might want to add some of the overlaps to your search list. Chances are you might find some new colleges you have never heard of! Minor drawback: As mentioned before, while this book is thorough, it only covers a few hundred schools out of the thousands around the world. It is an excellent starting place, but don’t forget that there are other schools out there that may fit you that aren’t mentioned. Colleges That Change Lives Author: Loren Pope I actually first heard about Colleges That Change Lives through The College Checklist Podcast, one of my recommended podcasts in an earlier post. Loren Pope wrote this book with the assumption that there are other factors, rather than merely â€Å"prestige,† that make a college truly great. Often times, students only know about the schools with recognizable names. In response, Colleges That Change Lives explores and champions schools that you may not know as well by name but that strive to tailor the college experience to individual students. What does this mean exactly? Well, each school goes about the student-centric experience in different ways, from exceptional teacher communication to customizable education to thorough assessments of a student’s overall maturation to encouragement of student innovative impact on campus. The colleges’ biggest selling point? They are schools that are not excessively selective and are therefore great colleges to explore for kid s who may be intimidated by some of the admissions rates of the most well-known colleges. Special bonus(es): One of my favorite parts of this book is that it really focuses on how you can get to know the school by asking current or previous students targeted questions about their experience. It even gives a list of suggested questions, such as how long it takes for instructors to answer emails and how easy it is to establish a club on campus. Another bonus? This book actually inspired the creation of a non-profit by the same name! There, you will find in-depth profiles of participating colleges as well as further information about college fairs and seminars. If you’re looking for more books on the college admissions process, they even have a list you can check out here. Minor drawback: While there are many updated editions of this book, originally published in 1996, the latest one was published in 2013. However, I still consider this book a great place to begin getting acquainted with these special schools. ——————————————————————————————————————— I have so enjoyed sharing all of these college search resources with you, from books to websites to podcasts, and I hope they have proved helpful in giving you some insight into the many wonderful institutions out there that can become your new home. Remember†¦stay calm in the search process and resist the pressure to be overwhelmed as you get ready for college. Apply for the schools that fit YOU and that will excite you for years to come. Make the college application process less of a bear. Enlist the help of a college application coach, likeMadison, during any part of your process, whether it’s academic and extracurricular advising, school selection, managing deadlines, or essay writing. ; Want to learn more about the college admissions process? Check out some of our previous blog posts below! How to Write a Successful Personal Statement College Interviews: Dos, Don'ts, and Common Questions Writing a Thesis and Topic Sentences in your Personal Statement

Prayer On The Field Of Medicine - 874 Words

In the 21st century, the number of methods in which to treat a patient has increased. In modern society, the most common method for treating a patient is in the form of medicine. This is in large part due to the growing advancement of technology and research. In medicine many forms of treatment are offered to the ill, ranging from therapy, ancient healing techniques, and herbal methods. Of late, a different treatment known as intercessory prayer has gained some attention. This is the act of praying on behalf of patients. The history of intercessory prayer originates from religious people believing that praying on the behalf of the sick can heal the said patient. Intercessory prayer should not be supported in the field of medicine because prayer and religion are separate entities from medicine. Secondly, practicing intercessory prayer in a medical practitioner’s field of work is unprofessional. Intercessory prayer should not be supported in the field of medicine because religi on should be independent from a medical practitioner’s field of work. Praying is defined as the religious act towards worshiping a deity and medicine is defined as the act of healing others. The fundamental definitions for both of these terms are completely opposite, which is the reason for great discrepancy between the two methods. Although, many argue that intercessory prayer may lead to healing, combining religion and medicine just results into several controversial issues. Another glaringShow MoreRelatedThe Natural World1041 Words   |  5 Pagesand medicine, and thus be better able to serve the Christian people. Such a curiosity has crossed into other fields within Christianity, leading the Christian faith to employ research into their own faith. Such being the case with distant intercessory prayer (IP). On the other hand, science strives to understand and analyze all aspects of the natural world, which since 1965 has included IP. Thus, there are both proponents and op ponents to the religious claims that distant intercessory prayer in theRead MoreEastern Vs Western Medicine Essay1308 Words   |  6 PagesEastern vs Western Medicine When the average American catches a cold, they head to their doctor who assesses their condition and prescribes medication to help alleviate their symptoms. The patient then heads to the pharmacy, gets their medicine, starts a course of treatment, and eventually feels better. That is the average cycle of treatment in our society. Someone suffering from a headache will take a painkiller; for a cough, cough syrup; and for a stuffy nose, a decongestant. In the western partRead MoreCAM Modalities is an Alternative Therapy705 Words   |  3 Pagesdefinition. The categories are complementary, alternative, and integrative medicine and the domains are biologically based therapies, manipulative and body-based methods, mind-body interventions, energy therapies, and alternative medical systems. Complementary refers to a non-mainstream approach with conventional medicine in conjunction, while alternative refers to a non-mainstream approach in place of conventional medicine. (NIH, 2013). These are two contrasting or bipolar points the complementaryRead MoreHealth Care Provider and Faith Diversity 1238 Words   |  5 Pages This paper will discuss three different religions that a health care provider may care for in the nursing field. It will discuss the spiritual perspective, as well as the critical components of healing, such as through prayer and meditation. The writer will give a brief summary of each religions belief. The three religions that will be discussed in this paper are Native American, Hinduism, and Buddhism. This paper will discuss what is important to people who are cared for of a particular faithRead MoreDifferent Cultures And Religions Of The Field Of Nursing1687 Words   |  7 PagesIn the field of nursing, there are many different cultures and religions that can affect the way that a patient may want to receive care. Some groups may also wish to use certain alternative therapies that may differ from those that Western health care workers are more familiar with, and the nurse should be willing to learn about the method that a person of a different culture may wish to use. There are also some alternative therapies that can be used in conjunction with American medicine and areRead MoreComplementary Medicine And Alternative Medicine1556 Words   |  7 Pagesterms complementary medicine or alternative medicine are used interchangeably with traditional medicine in some countries. They refer to a broad set of health care practices that are not part of that country s own tradition and are not integrated into the dominant health care system. It is also referred to as complementary or traditional medicine. Use of complementary medicine practices alongside modern medicine, while using alternative medicine instead of modern medicine practices. It Is extremelyRead MoreComplementary And Alternative Medicine ( Cam )985 Words   |  4 PagesModalities Paper Complementary and alternative medicine (CAM) is important in todays’ health care for researchers, practitioners, and consumers. Society should be aware of the safety of taking herbs, therapies, and any health topics. The CAM website can be a useful website to research information that a person wants to gain background on. In the following paper, I will give definitions of alternative, complementary, integrative medicine, conventional medicine role, CAMs philosophy, five domains of therapiesRead MoreAlternative Medicine : Modern Medicine1321 Words   |  6 PagesParth Patel Spiritual Healers Alternative medicine has grown in great popularity among third world countries. Where modern medicine can often be impossible or just out of financial reach, people have some to seek other methods of healing. Though curing the common sickness is not the only thing spiritual healers have claimed to have the cure for, it’s a big interest to many people all around the world. Across many countries all around the globe long passed on traditions and ceremonies are beingRead MoreThe s Belief System A Worldview1744 Words   |  7 Pagesis extremely important in the health care field in order to promote healing within the patient. The health care professionals must be able to ensure that the form of care being provided does not offend or go against the patient’s belief system. Two major religions that exist in the world today are Christianity and Scientology. In Christianity, faith is centered on God. These individuals are devoted to the word of God through biblical teachings and prayer. In this situation, the caregiver must beRead MoreThe Understanding of Medicine of the Ancient Romans1364 Words   |  5 Pages In our world today, many of our medicine and medical treatments have been brought down from generation to generation, starting from cultures from several centruies ago, being passed down to our hospitals today. Some of our practices started from Ancient Rome.The understanding of medicine from the Ancient Romans evolved from the many â€Å"medical methods of the Greeks, the Etruscans, the Egyptians, the Persians, and other conquered peoples (Crystallinks, â€Å"Medicine and surgery†, Source 1).† They mainly

How Technology Has Impacted Children - 1787 Words

Tony Safranek Mrs. Newcomer Advanced Composition B4 30 April 2017 Mindless Addictive Students Technology has only been around for 20 years and has already inflicted pain on many. Especially those that are students and did not become used to the new style of teaching compared to the new style of teaching. The old style of teaching is the classical version where students are able to learn what they love to do instead of taking all the classes children hate and end up failing. Classical style of teaching benefits the students because they actually want to learn. The integration of technology has negatively impacted children of this generation because it causes health problems, technology leads to terrible work ethics and performance in†¦show more content†¦Blue light may seem harmless, but what many don’t know is that it can cause sleep disruption, depression, and long term vision issues. â€Å"The eyes are not built to stare at digital screens all day, as modern world demands. ‘Patients underestimate how their technology use ma y be contributing to eye strain and do not consider ways to reduce this stress’† (NewsRx 1). Screen time can impact kids and will negatively impact their health and eye exposure before bedtime has been proved to disrupt sleep patterns. On the same article the group talks about some symptoms people may experience from using technology. â€Å"Americans report experiencing the following symptoms of digital eye strain: eye strain, neck and shoulder pain, headache, blurred vision, and dry eyes (NewsRx 1). The effects of blue light and digital eye strain on children are the most concerning of negative impacts on their health because of technology. Even professionals who specialize in the technology industry disagree with children being able to use their products. For example, Steve Jobs â€Å"was what you might call a low-tech parent. And he s not alone. A number of big names in the technology world -- including Chris Anderson and Evan Williams -- also set strict guidelines for how much tech their young children can use† (Basulto 1). With some of these famous people not allowing their children to excessively use their products is saying something and they know whatShow MoreRelatedPositive helpful Technology Essays1044 Words   |  5 Pages Our technology has led to the advancements in the health industry making it easier for sick people to get the treatment they need. Technology use being taught to children is a positive use for the future of education and is necessary for students to succeed in the world, with this education it enables them to be better prepared for the world that awaits them when they enter college and work force. Even the environment is impacted when we stop to take the time to research the things we use likeRead MoreHow Public Education Affects All People870 Words   |  4 Pages we are faced with several difficulties that effects everyone. It all depends on how a person views the education concerns. Everyone wants to solve America’s education issues and it’s essential that we focus on the right things to move forward and offer better opportunities. It’s important that we first focus on how public education impacts all people. It can’t just be what people believe to b e true but how it has actually affected their learning and life. In American public education, it aimsRead MoreHow Has the Nature of Family Life Changed in Australia over the Past 50 Years and What Impact Has This Had on Australian Society ?1026 Words   |  5 PagesMarch 14 2013 How has the nature of family life changed in Australia over the past 50 years and what impact has this had on Australian society ? Society and culture The nature of family life in Australias has changed over the past 50 years mainly due to advances in technology, changes in gender roles and also because of who has power and authority in todays modern families. As a result of these changes, Australias society has been impacted in many ways. For example, there has been an increaseRead MoreThe Effects Of Television On America During The 1980s1289 Words   |  6 Pagespopularity of cable television, and new technology that was invented such as the remote control. Television had a huge effect on society through the way if affected the ways children could be educated and what people watched. It impacted technology through changes in how people watched television and what people could record and watch on television. It also had an enormous effect on the economy through changes in competition in the television industry and how musicians and their music could be madeRead MoreWhat are the Effects of Modern Technology on Relationships? Essa y1448 Words   |  6 Pages Casson (1910) maintains that personal communication has evolved over the years. He argues that technology and social changes have advanced from the period of letter writing to house phone usage, which became popular in the beginning of the 20th century. From the time of letter writing to the current century, technology has evolved to e-communication and cell phone usage. By analyzing the effects that modern technology has had on functionality, time efficiency, and a shear ease on communication,Read More Technology in Education Essay985 Words   |  4 PagesTechnology in Education Today, if you enter an average elementary classroom you might find a computer cart with twenty or thirty lap tops, all with hook-up to the internet. The teacher usually has either a desk top or lap top computer, sometimes both, for keeping track of important information. Technology has, in many ways, positively impacted the educational field. Michigan has made using technology a necessity. With help from the Freedom to Learn Program, improvements in classroom technologyRead MoreI Am A Teacher s Degree Program1421 Words   |  6 Pagesbooks with my students. As I began student teaching, however, I realized not all children have had the same experiences as I have had with reading. Although I am not sure I want to be a literacy specialist, I chose the literacy Master’s Degree program because I wanted to help all children, especially struggling readers, develop a love for reading and become successful readers and writers. If I had not seen children struggle with reading, I am not sure if I would have ever chosen literacy for my Master’sRead MoreTechnology Is A Cure For Boredom893 Words   |  4 Pagesyears ago. Before technology took over the lives, boredom resulted in more challenging and meaningful activities. Even though, people believe technology is a cure for boredom, it negatively affects the way children and adults operate and hinder the creativity in today’s society amongst businesses and schools. Many years ago, children spent their free time drawing made up characters with unwritten stories behind them or reading their favorite book and had minimum access to technology. In today’s societyRead MoreEssay about The Impact of Technology on Education1045 Words   |  5 PagesImpact of Technology on Education Technology has greatly affected and impacted the way things are presented and taught in the classroom. Technology has had a large impact on the materials that are used and the way we use these materials to teach in the schools. Most everything that is used in today’s classroom has been a result of technology. All materials, including textbooks and the Internet, have been invented and have had some connection to the growth of technology in the schoolRead MoreThe Societal Influences on the Educational Impact of Students731 Words   |  3 PagesThe societal influences on the educational impact of students are numerous. Two of the most important are income inequality and technology Income inequality and the effects on education have been at the heart of a contentious debate. As researcher Sean Reardon of Stanford University, explained recently in The New York Times: â€Å"We have moved from a society in the 1950s and 1960s, in which race was more consequential than family income, to one today in which family income appears more determinative

Financial Market Essay Example Pdf - Free Essay Example

Sample details Pages: 18 Words: 5318 Downloads: 10 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? A commercial bank is a type of financial intermediary and a type of bank. After the Great Depression, the U.S. Congress required banks only engage in banking activities, whereas investment banks were limited to capital market activities. Since the two no longer have to be under separate ownership, some use the term commercial bank to refer to a bank or a division of a bank primarily dealing with deposits and loans from corporations or large businesses. Commercial bank is the term used for a normal bank to distinguish it from an investment bank. This is what people normally call a bank. The term commercial was used to distinguish it from an investment bank. Since the two types of banks no longer have to be separate companies, some have used the term commercial bank to refer to banks which focus mainly on companies. In some English-speaking countries outside North America, the term trading bank was and is used to denote a commercial bank. During the great depr ession and after the stock market crash of 1929, the U.S. Congress passed the Glass-Steagall Act 1930 (Khambata,1996) requiring that commercial banks only engage in banking activities (accepting deposits and making loans, as well as other fee based services), whereas investment banks were limited to capital markets activities. This separation is no longer mandatory. It raises funds by collecting deposits from businesses and consumers via checkable deposits, savings deposits, and time (or term) deposits. It makes loans to businesses and consumers. It also buys corporate bonds and government bonds. Its primary liabilities are deposits and primary assets are loans and bonds. 10 Commercial banking can also refer to a bank or a division of a bank that mostly deals with deposits and loans from corporations or large businesses, as opposed to normal individual members of the public (retail banking). Origin: The name bank derives from the Italian word banco desk/bench, used during the Renais sance by Florentine bankers, who used to make their transactions above a desk covered by a green tablecloth (de Albuquerque, Martim, 1855). However, there are traces of banking activity even in ancient times. In fact, the word traces its origins back to the Ancient Roman Empire, where moneylenders would set up their stalls in the middle of enclosed courtyards called macella on a long bench called a bancu, from which the words banco and bank are derived. As a moneychanger, the merchant at the bancu did not so much invest money as merely convert the foreign currency into the only legal tender in Rome- that of the Imperial Mint (Matyszak and Philip, 2007). In the most basic terms, commercial banks take deposits from individual and institutional customers, which they then use to extend credit to other customers. They make money by earning more in interest from borrowers than they pay in interest to those whose deposits they accept. Theyre different from investment banks and brokerage s in that those kinds of institutions focus on underwriting, selling, and trading corporate and municipal securities. The Balance Sheet: A banks balance sheet is different from that of a typical company. You wont find inventory, accounts receivable, or accounts payable. Instead, under assets, youll see mostly loans and investments, and on the liabilities side, youll see deposits and borrowings. Loans represent the majority of a banks assets (Saunders and Cornett, 2005). A bank can typically earn a higher interest rate on loans than on securities, roughly 6%-8%. Loans, however, come with risk. If the bank makes bad loans to consumers or businesses, the bank will take a hit when those loans arent repaid. Because loans are a banks bread and butter, its critical to understand a banks book of loans. Other assets, including property 11 and equipment, represent only a small fraction of assets. A bank can generate large revenues with very few hard assets. Compare this to some other co mpanies, where plant, property, and equipment (PPE) is a major asset. Surprisingly, cash represents only about 2% of assets. Thats because the bank wants to put its money to work earning interest. If the bank simply sticks its cash in a vault and forgets about it, it will have a hard time making a profit. Thus, a bank keeps most of its money tied up in loans and investments, which are called earning assets in bank-speak because they earn interest. Banks dont like putting their assets into fixed-income securities, because the yield isnt that great. However, investment-grade securities are liquid, and they have higher yields than cash, so its always prudent for a bank to keep securities on hand in case they need to free up some liquidity. Assessing Assets: A banks assets are its meal ticket, so its critical for investors to understand how its assets are invested, how much risk they are taking, and how much liquidity the bank has in securities as a shield against unforeseen probl ems. In general, investors should pay attention to asset growth, the composition of assets between cash, securities, and loans, and the composition of the loan book. Also, investors should note a banks asset/equity (equity multiplier) ratio, which measures how many times a dollar of equity is leveraged. The liability side of a banks balance sheet is made up of various types of deposit accounts and other forms of borrowings used to fund their investments. A major difference between banks and other is their high leverage or debt-to-asset ratio. Assets and liability management (ALM) is the management of the structure of a banks balance sheet in such a way that interest related earnings are maximized within the overall risk tolerance of the banks management (J.S.G Wilson, 1988). 2.2-The Bank for International Settlement (BIS) and the Basel Accords: 2.2.1-The Bank for International Settlement (BIS): 12 The Bank for International Settlements (or BIS) is an internation al organization of central banks which exists to foster cooperation among central banks and other agencies in pursuit of monetary and financial stability (Wikipedia online, 2008). It carries out its work through subcommittees, the secretariats it hosts, and through its annual General Meeting of all members. The BIS also provides banking services, but only to central banks, or to international organizations like itself. Based in Basel, Switzerland, the BIS was established by the Hague agreements of 1930. As an organization of central banks, the BIS seeks to make monetary policy more predictable and transparent among its 55 member central banks. While monetary policy is determined by each sovereign nation, it is subject to central and private banking scrutiny and potentially to speculation that affects foreign exchange rates and especially the fate of export economies. Two aspects of monetary policy have proven to be particularly sensitive, and the BIS therefore has two specific go als: to regulate capital adequacy and make reserve requirements transparent. Capital adequacy policy applies to equity and capital assets. These can be overvalued in many circumstances. Accordingly the BIS requires bank capital/asset ratio to be above a prescribed minimum international standard, for the protection of all central banks involved. The BIS main role is in setting capital adequacy requirements. From an international point of view, ensuring capital adequacy is the most important problem between central banks, as speculative lending based on inadequate underlying capital and widely varying liability rules causes economic crises as bad money drives out good (Greshams Law). The BIS sets requirements on two categories of capital, Tier 1 capital and Total capital. Tier 1 capital is the book value of its stock plus retained earnings. Tier 2 capital is loanloss reserves plus subordinated debt. Total capital is the sum of Tier 1 and Tier 2 capital. Tier 1 capital must be at least 4% of total risk-weighted assets. Total capital must be at least 8% of total risk-weighted assets. When a bank creates a deposit to fund a loan, its assets and liabilities increase equally, with no increase in equity. That causes its capital ratio to drop. Thus the capital requirement limits the total amount of credit that a bank 13 may issue. It is important to note that the capital requirement applies to assets while the bank reserve requirement applies to liabilities. 2.2.2-The Basel Accords: The Basel Accord(s) refers to the banking supervision accords (recommendations on banking laws and regulations), Basel I (first published in 1988 and enforced by law in 1992 by the G-10 countries) and Basel II (published in June 2004) issued by the Basel Committee on Banking Supervision (BCBS). They are called the Basel Accords as the BCBS maintains its secretariat at the Bank of International Settlements in Basel, Switzerland and the committee normally meets there. The Basel Committe e consists of representatives from central banks and regulatory authorities of the G10 countries, plus others (specifically Luxembourg and Spain). The committee does not have the authority to enforce recommendations, although most member countries (and others) tend to implement the Committees policies. This means that recommendations are enforced through national (or EU-wide) laws and regulations, rather than as a result of the committees recommendations thus some time may pass between recommendations and implementation as law at the national level. Tier 1 capital is the core measure of a banks financial strength from a regulators point of view. It consists of the types of financial capital considered the most reliable and liquid, primarily Shareholders equity. Examples of Tier 1 capital are common stock, preferred stock that is irredeemable and non-cumulative, and retained earnings. Capital in this sense is related to, but different from, the accounting concept of shareholders equity. Both tier 1 and tier 2 capital were first defined in the Basel I capital accord. The new accord, Basel II, has not changed the definitions in any substantial way. Each countrys banking regulator, however, has some discretion over how differing financial instruments may count in a capital calculation. This is appropriate, as the legal framework varies in different legal systems. 14 Tier 2 capital is a measure of a banks financial strength with regard to the second most reliable form of financial capital, from a regulators point of view. The forms of banking capital were largely standardized in the Basel I accord, issued by the Basel Committee on Banking Supervision and left untouched by the Basel II accord. Tier 1 capital is considered the core capital and more reliable form of capital 2.3- VALUE-AT-RISK 2.3.1-BANK LOANS: A loan is a debt. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the l ender and the borrower. The borrower initially receives an amount of money from the lender, which he pays back, but sometimes not always in regular installments, to the lender. This service is generally provided at a cost, known as interest on the debt. The lender may subject the borrower to certain restrictions known as loan covenants. One of the principal duties of financial institutions is to provide loans, this is typically the source of income to banks, bank loans and credit also constitute one of the ways of increasing money supply in the economy. 2.3.2-VALUE AT A RISK (VAR): This is a technique used to estimate the probability of portfolio losses based on the statistical analysis of historical price trends and volatilities. Value at risk is commonly used by banks, security firms and companies that are involved in trading energy and other commodities. VAR is able to measure risk while it happens and is an important consideration when firm s make trading or hedging decision (Simon Manganelli and Robert Engle, 2001). Some people have described VAR as the new science of risk management, but you do not need to be a scientist to use VAR. Here, we look at the idea behind VAR and the three basic methods of calculating it. Basically, VAR is represented by; 15 VAR= (dollar value of position)(price sensitivity)(potential adverse move in price/yield). .(1) For financial institutions, risk is about the odds of losing money given out as loans, and VAR is based on that common-sense fact. By assuming financial institutions care about the odds of a really big loss on loans, VAR answers the question, What is my worstcase scenario? or How much could I lose in a really bad month? To be more specific, a VAR statistic has three components: a time period, a confidence level and a loss amount (or loss percentage). Keep these three lets take note of this as we give some examples of variations of the questions that VAR answers: What is the most I can with a 95% or 99% level of confidence expect to lose in default on loan repayment over the next month? What is the maximum percentage I can with 95% or 99% confidence expect to lose over the next year? We can see how the VAR question has three elements: a relatively high level of confidence (typically either 95% or 99%), a time period (a day, a month or a year) and an estimate of lose on loan default (expressed either in dollar or percentage terms) (David Harper, 2008). 2.4- PORTFOLIO THEORY AND TRADITIONAL METHOD TO CREDIT RISK MANAGEMENT 2.4.1- PORTFOLIO APPROACH: Since the 1980s, banks have successfully applied modern portfolio theory (MPT) to market risk. Many banks are now using earnings at risk (EAR) and value at risk (VAR) models to manage their interest rate and market risk exposures. Unfortunately, however, even though credit risk remains the largest risk facing most banks, the practical of MPT to credit risk has lagged (William Margrabe, 2007). 16 Banks recognize how credit concentrations can adversely impact financial performance. As a result, a number of sophisticated institutions are actively pursuing quantitative approaches to credit risk measurement, while data problems remain an obstacle. This industry is also making significant progress toward developing tools that measure credit risk in a portfolio context. They are also using credit derivatives to transfer risk efficiently while preserving customer relationships. The combination of these two developments has precipitated vastly accelerated progress in managing credit risk in a portfolio context over the past several years. 1. Asset-by-asset Approach: Traditionally, banks have taken an asset-by-asset approach to credit risk management. While each banks method varies, in general this approach involves periodically evaluating the credit quality of loans and other credit exposures, applying a credit risk rating, and aggregating the results of this analysis to identify a portfolios expected losses. The foundation of the asst-by-asset approach is a sound loan review and internal credit risk rating system. A loan review and credit risk rating system enable management to identify changes in individual credits, or portfolio trends in a timely manner. Based on the results of its problem loan identification, loan review, and credit risk rating system management can make necessary modifications to portfolio strategies or increase the supervision of credits in a timely manner. 2. Portfolio Approach: While the asset-by-asset approach is a critical component to managing credit risk, it does not provide a complete view of portfolio credit risk, where the term risk refers to the possibility that actual losses exceed expected losses. Therefore to gain greater insight into credit risk, banks increasingly look to complement the asset-by-asset approach with a quantitative portfolio review using a credit model. Banks increasingly attempt to address the inability of the asset-by-asset approach to measure unexpected losses sufficiently by pursuing a portfolio approach. One weakness with the asset-by-asset approach is that it has difficulty identifying and measuring 17 concentration. Concentration risk refers to additional portfolio risk resulting from increased exposure to a borrower, or to a group of correlated borrowers. Table 1 summerises strategies for reducing and coping with portfolio credit risk. Table 1: Strategies for Reducing and Coping with Portfolio Credit Risk Technique Advantages Disadvantages Implication Geographic Diversification External shocks (climate, price, natural disasters, etc.) are not likely to affect the entire portfolio if there is spatial diversification. If the country is small or the Institution is capital constrained, it may not be able to apply this principle. It will become vulnerable to covariate risk, which is high in agriculture. Loan Size Limits (Rationing) Prevents the institution from being vulnerable to nonperformance on a few large loans. Can be carried to the extreme where loan size does not fit the business needs of the client and results in suboptimal use and lower positive impact by client. Client could become dissatisfied Protects asset quality in the shortrun but creates client retention problems in the long run. Inimical to relationship banking. Over Collateralization Assures the institution that enough liquidation value will exist for foreclosed assets. Excludes poor, low-income clients who are the vast majority of the market. Not a recommended technique if goal is to better serve the low- and moderate income clients. Credit Insurance Bank makes clients purchase credit insurance. In event of default, bank collects from insurer. Databases and credit bureaus may not exist to permit insurer to engage in this line of business in cost-effective manner. Portfolio Securitization Lender bundles and sells loans to a third party. Transfers default risk and improves liquidity so that it can continue to lend. Allows lender to develop expertise in analyzing creditworthiness in one sector or niche. Requires well documented loans and long time series of performance data to permit ratings and reliable construction of financial projections. Requires a well developed secondary market, standardized underwriting practices, and existence of rating companies. 18 Source: Publication of the Inter-American Development Bank, May 2007. 2.4.2-TRADITIONAL APPROACH: It is hard to differentiate between the traditional approach and the new approaches since many of the ideas of traditional models are used in the new models. The traditional approach is comprised of four classes of models 1. Expert Systems In the expert system, the credit decision is left in the hands of the branch lending officer. His expertise, judgment, and weighting of certain factors are the most important determinants in the decision to grant loans. the loan officer can examine as many points as possible but must include the five Cs these are; character, credibility, capital, collateral and cycle (economic conditions) in addition to the 5 Cs, an expert may also take into consideration the interest rate. 2. Artificial Neural Networks: Due to the time consuming nature and error- prone nature of the computerized expertise system, many systems use induction to infer the human experts decision process. The artificial neural networks have been proposed as solutions to the problems of the expert system. This syste m simulates the human learning process. It learns the nature of the relationship between inputs and outputs by repeatedly sampling input/output information. 3. Internal Rating at Banks: Over the years, banks have subdivided the pass/performing rating category, for example at each time, there is always a probability that some pass or performing loans will go into default, and that reserves should be held against such loans. 4. Credit Scoring Systems: 19 A credit score is a number that is based on a statistical analysis of a borrowers credit report, and is used to represent the creditworthiness of that person1. A credit score is primarily based on credit report information. Lenders, such as banks use credit scores to evaluate the potential risk posed by giving loans to consumers and to mitigate losses due to bad debt. Using credit scores, financial institutions determine who are the most qualified for a loan, at what rate of interest, and to what credit limits (Wikipedia, 2008). 2.5-SUPERVISORY AUTHORITY OF BANK CREDIT RISK MANAGEMENT The Bank of International Settlement (BIS) on November 28th 2005 in a press release issued a series of ten principles on Sound Credit Risk Assessment and valuation for Loans: Principle 1: The banks board of directors and senior management are responsible for ensuring that the banks have appropriate credit risk assessment processes and effective internal controls to consistently determine provisions for loan losses in accordance with the banks stated policies and procedures, the applicable accounting framework and supervisory guidance commensurate with the size, nature and complexity of the banks lending operations. Principle 2: Banks should have a system in place to reliably classify loans on the basis of credit risk. Principle 3: A banks policies should appropriately address validation of any internal credit risk assessment models. Principle 4: A bank should adopt and document a sound loan loss methodology, which addresses risk assessment policies, procedures and controls, for assessing credit risk, identifying problem loans and determining loan provisions in a timely manner. Principle 5: A banks aggregate amount of individual and collectively assessed loan provisions should be adequate to absorb estimated credit losses in the loan portfolio. 1 That is, the likelihood that the person will pay his or her debts. 20 Principle 6: A banks use of experienced credit judgment and reasonable estimates are an essential part of the recognition and measurement of loan losses. Principle 7: A banks credit risk assessment process for loans should provide the bank with the necessary tools, procedures and observable data to use for credit risk assessment purposes, account for impairment of loans and the determination of regulatory capital requirements. Principle 8: Banking supervisors should periodica lly evaluate the effectiveness of a banks credit risk policies and practices for assessing loan quality. Principle 9: Banking supervisors should be satisfied that the methods employed by a bank to calculate loan loss provisions produce a reasonable and prudent measurement of estimated credit losses in the loan portfolio that are recognized in a timely manner. Principle 10: Banking supervisors should consider credit risk assessment and valuation practices when assessing a banks capital adequacy. I. Individual Credit Rating: A credit rating assesses the credit worthiness of an individual, corporation, or even a country. Credit ratings are calculated from financial history and current assets and liabilities. Typically, a credit rating tells a lender or investor the probability of the subject being able to pay back a loan. However, in recent years, credit ratings have also been used to adjust insurance premiums, determine employment eligibility, and e stablish the amount of a utility or leasing deposit. II. Corporate credit ratings: The credit rating of a corporation is a financial indicator to potential investors of debt securities such as bonds. These are assigned by credit rating agencies2 such as Standard Poors, Moodys or Fitch Ratings and have letter designations such as AAA, B, CC. The Standard Poors 2 In the United States, the main credit bureaus are Experian, Equifax, and TransUnion. A relatively new credit bureau in the US is Innovis. In the United Kingdom, the main credit reference agencies for individuals are Experian, Equifax, and Callcredit. In Canada, the main credit bureaus for individuals are Equifax, TransUnion and Northern Credit Bureaus/ Experian. The leading credit bureau in Sweden is Upplysningscentralen AB. In India, the main credit bureaus are CRISIL and ICRA. The largest credit rating agencies are Moodys, Standard and Poors and Fitch Ratings. 21 rating scale is as f ollows: AAA, AA, A, BBB, BB, B, CCC, CC, C, D. Anything lower than a BBB rating is considered a speculative or junk bond. The Moodys rating system is similar in concept but the verbage is a little different. It is as follows: AAA, Aa1, Aa2, Aa3, A1, A2, A3, Baa1, Baa2, Baa3, Ba1, Ba2, Ba3, B1, B2, B3, Caa1, Caa2, Caa3, Ca, C. III. A sovereign credit rating is the credit rating of a sovereign entity. The sovereign credit rating indicates the risk level of the investing environment of a country and is used by investors looking to invest abroad. It takes political risk into account. The countries with the least sovereign risk are ranked as follows. Table 2: Country risk rankings (Least risky countries), Score out of 100 Source: Euromoney, Country risk, March 2008. Rank Previous Rank Country Score 1 1 Luxembourg 99.88 2 2 Norway 97.47 3 3 Switzerland 96.21 4 4 Denmark 93.39 5 5 Sweden 92.96 6 6 Ireland 92.36 7 10 Austria 92.25 8 9 Finland 91.95 9 8 Netherlands 91.95 10 7 United States 91.27 According to the results (see table 2), Austrias country rating has improved from 10th to 7th position while the USA has dropped to the10th position from 7th. 2.6-MANAGING CREDIT RISK USING FINANCIAL RATIOS: 22 Ratio analysis (financial and accounting ratios) is a measurement system to analyse the strength, weakness, opportunity and threats (SWOT Analysis) of an FI. The table below depicts some of the frequently used ratios in credit analysis (table 2): Table 3: Frequently Used Ratios in Credit Analysis3 Category Ratio Operating Performance Earnings before interest, taxes, depreciation and amortization(EBITDA)/Sales Net Income/ Sales Net Income/ Net Worth Sales/ Fixed Assets Debt Service Coverage EBITDA/ Interest Payment1.5 Free Cash-flow expenditure/ Interest payments Free Cash-flow expenditures-dividend/Interest Financial Leverage Long-term debt/Capitalization Long-term debt/Tangible net worth Total liabilities/Tangible net worth Current liabilities/Tangible net worth Liquidity Current ratio (current assets/current liabilities) Quick ratio (current assets-inventory/current liabilities) Inventory turnover(inventory/Net sales) Inventory to Net working capital Current debt to Inventory Raw materials,WIP, and finished goods as a percentage of total Inventory Receivables Aging of receivables:30,60,90,90+days 3 These ratios are commonly used in credit analysis but have to be adapted to specific environment of industries and countries. 23 Average collecting period Source: Caoutte, et al., 1998 2.7 Credit Risk Models Over the last decade, a number of the worlds largest banks have developed sophisticated systems in an attempt to model the credit risk arising from important aspects of their business lines. Such models are intended to aid banks in quantifying, aggregating and managing risk across geographical and product lines. The outputs of these models also play increasingly important roles in banks risk management and performance measurement processes, including performance-based compensation, customer profitability analysis, risk-based pricing and, to a lesser (but growing) degree, active portfolio management and capital structure decisions. The Task Force recognizes that credit risk modeling may indeed prove to result in better internal risk management, and may have the potential to be used in the supervisory oversight of banking organizations. However, before a portfolio modeling approach could be used in the formal process of setting regulatory capital requirements for credit risk, regulators would have to be confident not only that models are being used to actively manage risk, but also that they are conceptually sound, empirically validated, and produce capital requirements that are comparable across institutions. At th is time, significant hurdles, principally concerning data availability and model validation, still need to be cleared before these objectives can be met, and the Committee sees difficulties in overcoming these hurdles in the timescale envisaged for amending the Capital Accord (BIS, credit risk modeling, 19th April 1999). Credit scoring models use data on observed borrower characteristics either to calculate the probability of default or to borrowers into different default risk classes (Saunders and Cornett, 2007). Prominent amongst the credit scoring models is the Altmans Z-Score. The Z-score formula for predicting Bankruptcy of Dr. Edward Altman (1968) is a multivariate formula for measurement of the financial health of a company and a powerful diagnostic 24 tool that forecast the probability of a company entering bankruptcy within a two year period with a proven accuracy of 75-80%. The Altmans credit scoring model takes the following form; Z=1.2X1+ 1.4X2 + 3.3X3 + 0.6X4 +1.0X5 (2) Where, X1 = Working capital/ Total assets ratio X2 = Retained earnings/ Total assets ratio X3 = Earnings before interest and taxes/ Total assets ratio X4 = Market value of equity/ Book value of long-term debt ratio X5 = Sales/ Total assets ratio. The higher the value of Z, the lower the borrowers default risk classification. According to Altmans credit scoring model, any firm with a Z-Score less than 1.81 should be considered a high default risk, between 1.81-2.99 an indeterminate default risk, and greater than 2.99 a low default risk. Critics: Use of this model is criticized for discriminating only among three borrower behavior; high, indeterminate, and low default risk. Secondly, that there is no obvious economic reason to expect that the weights in the Z-Score model or, more generally, the weights in any credit-scoring model- will be constant over any but very short periods. Thirdly the problem is that these models ignore important, hard to quantify factors (such as macroeconomic factors) that may play a crucial role in the default or no-default decision. Outstanding also is the KMV credit Monitor Model4. In recent years, following the pioneering work on options by Merton, Black, and Scholes, we now recognize that when a firm raises funds either by issuing bonds or by increasing bank loans, it holds a very valuable default or repayment option ( Black and Scholes, 1973) and (Merton, 1974). The KMV Model is a credit monitor model that helps to solve the lending problems of banks 4 KMV is a trademark of KMV Corporation that was founded in 1989. The KMV model calculates the Expected Default Frequency (EDF) based on the firms capital structure, the volatility of the assets returns and the current asset value. This model best applies to publicly traded companies for which the value of equity is market determined. 25 and further look at the repayment incentive problem (Gilbert, 2004). To try resolving the problems, the KMV Model uses the structural relationship between the volatility of a firms asset and the volatility of the firms equity. The KMV Corporation (purchased by Moodys in 2002) has turned this relatively simple idea into a credit-monitoring model now used by most of the large US banks to determine the Expected Default Frequency (EDF) that is the probability of default of large corporations (KMV Corporation, 1994). The expected default frequency that is calculated reflects the probability that the market value of the firms assets will fall below the promised repayments on debt liabilities in one year. If the value of a firms assets falls below its debt liabilities, it can be viewed as being economically insolvent. Simulations by the KMV have shown that this model outperforms both accounting-based models and SP ratings (Saunders and Cornett, 2007). The relevant net worth of a firm is therefore the market value of the firms assets minus the firms default point. Net worth= (Market Value of Assets) (Default Point) (3) A firm will default when its market net worth reaches zero. (Market Value of Assets)(Asset Volatility) (Market Value of Assets) (Default Point) Distant to Default = (4) (Source: Moodys KMV; Modeling Default Risk, 18th December 2003.) The KMVs empirical EDF is an overall statistics that can be calculated for every possible distance to default (DD) using data either aggregated or segmented by industry or region. To find the EDF for any particular firm at any point in time, one must look at the firms EDF as implied by its calculated DD. As a firms DD fluctuates, so do its EDF. For firms that are actively traded, it would be possible in theory to update the EDF every few minutes (Gilbert, 2004). CRITICS: The KMV EDF Model has been criticized on the basis that they are not true probabilities of d efault. This is reflected in the poor results obtained using KMV empirical EDFs in order to replicate risky bond prices (Kao, Eom et al, 2000). 26 An increasingly popular model used to evaluate the return on a loan to a large customer is the Risk-Adjusted Return on Capital (RAROC) Model. This model, originally pioneered by Bankers Trust (acquired by Deutsche Bank in 1998) is now adopted by virtually all the large banks in Europe and the US, although with some differences among them (Saunders and Cornett, 2007). The essential idea behind RAROC is that rather than evaluating the actual promised annual cash flow on a loan as a percentage of the amount lent or (ROA), the lenders balance the loans expected income against the loans expected risk. The RAROC Model is basically represented by, RAROC = (one year net income on loan)/ (Risk adjusted assets). (5) For denominator of RAROC, duration approach can be used to estimate worst case loss in valu e of the loan: DLn = -DLnx Ln x (DR/ (1+R)) .(6) Where, DR is an estimate of the worst change in credit risk premiums for the loan class over the past year. Ln= Loan DLn= Change in loan class R=Interest Rate According to James Christopher (1996), the immediate purpose of the RAROC riskmeasurement systems is to provide bank managements with a more reliable way to determine the amount of capital necessary to support each of their major activities and, thus, to determine the overall leverage for the bank as a whole. This paper also stipulates that the RAROC system provide a uniform measure of performance and that management can, in turn use this measure to evaluate performance for capital budgeting and as an input to the compensation system used for senior managers. 27 Don’t waste time! Our writers will create an original "Financial Market Essay Example Pdf" essay for you Create order

The Age Of Anxiety By Auden - 894 Words

On the Ages and Stages â€Å"You must not lose faith in humanity. Humanity is an Ocean; if a few drops of the Ocean are dirty, the Ocean does not become dirty†.-Mahatma Gandhi Humanity has always petitioned the idea of impending doom upon Earth and its inhabitants, that our sins will soon spill upon the dried cracking crust and salvation awaits the worthy above with open gates and waterfalls. Despite religious conceptions, humans still walk the material world; searching every crevice of knowledge hoping that one day meaning will be found in our sinful journey through time. Anxiety of what awaits the ending days plunges humans deeper into fear and doubt, giving W. H. Auden a needles amount of material for his sardonic masterpiece on the human function, The Age of Anxiety. Auden truly encapsulates diversity in his writing, always transitioning from prose to verse and from thought to speech. Auden begins part three of The Age of Anxiety in prose with â€Å"At first all is dark and each walks alone. What they share is only the feelings of remoteness and desertion, of having marched for miles and miles, of having lost their bearings, of a restless urge to fin d water†, then beginning the dialogue in verse with â€Å"Groping through fog, I begin to hear A salt lake lapping: Dotterels and dunlins on its dark shore†. The variations in The Age of Anxiety allow for infinite intrigue just like with music, hearing the same thing is boring and dry. Looking past rhetorical analysis andShow MoreRelatedAge of Anxiety by W.H Auden692 Words   |  3 Pages essayists. He generally was a major influence on succeeding generations of poets on Both sides of the world. (http//.www.poets.org) W.H was born in York, England in 1907 but he moved to Birmingham Alabama as a young child. Auden was educated at a Christ church. His father was a doctor and a academic sports teacher. When He finished school he attended oxford University where he also graduated to become a teacher. W.H moved to Berlin England to live for a year then returnedRead MoreAnalysis of The Age of Anxiety by W.H. Auden2680 Words   |  11 PagesAnalysis of The Age of Anxiety by W.H. Auden The themes and ideas in Audens The Age of Anxiety reflect his belief that mans quest for self actualization is in vain. I. Audens background A. As a 1930s poet 1. Views of Society 2. Diagnosis of the industrial society B. Major conflicts of his works II. The Age of Anxiety overview A. As a quest poem 1. Characters search for self-actualization 2. Characters inevitable failure in the quest B. Characters views onRead MoreAnalysis Of Auden s The Unknown Citizen, And Funeral Blues All By Auden2119 Words   |  9 Pagesenjoyable and humorous. Poet W.H. Auden did this. As the 1930s seemed to be drawing closer towards war, Auden became a leading spokesman of his generation, a political writer who warned against dangers that are caused by totalitarianism. His socialism and distrust of nationalism during this period was strong, influenced mostly by his experiences in the Spanish Civil War, but his social views were always more complex labels that were given to him. Three works of Auden that can be analysed are â€Å"SeptemberRead MoreEssay on Philip Larkin - A Voice of Pain for This Century1626 Words   |  7 Pagesrevelation of his anguish became more and more explicit while his emptiness, brought on by the struggle to understand life, continued to deepen. Larkin began writing poetry at an early age, with heavy influence from Keats, Auden, and, ultimately, Yeats (1974 (Thwaite, Introduction xviii-xix). In 1946, at the age of twenty-three, he began to carry his own voice and write poems that would thereafter strike his characteristic note (Thwaite, Introduction xv). The 1946 poem And the Wave SingsRead MoreEffect of laziness to academic performance5596 Words   |  23 Pagesmany years. The present study applied social psychological constructs to the acquisition of English in the unicultural Hungarian setting. A total of 301 Grade 11 students from the region of Budapest answered a questionnaire assessing their attitude, anxiety, and motivation toward learning English, as well as their perception of classroom atmosphere and cohesion. In addition, their teachers rated each of the students on proficiency and a number of classroom behaviors and evaluated the relative cohesionRead MoreFrom Extravagant Movie Theatres to Lowly Bomba Houses: In vestigating the Degeneration of City Spaces Along Claro M. Recto Avenue, Manila10891 Words   |  44 Pages I. INTRODUCTION Background of the Study With explicit sexual titles such as â€Å"Hayok: Hanggang Saan ka Papasok?† and â€Å"Gisingin ang Gabi,† bomba houses, albeit limited in number, try to lure in customers, of varying ages and social strata. Embedded along the busy and crowded street of Recto, where various forms of illegal and shady businesses loom, these establishments and institutions are but an exemplification of how modernity, particularly through the processes

Management and Team Environment Written Free Essays

Why is it essential to evaluate on what your team needs and wants to achieve? Creating a focus around team needs and design goals and asking, as well as answering the hard design questions as a team is an effective way of coalescing a team around one design direction. How is the ground rules for team operations made in your workplace and tasks and responsibilities shared? Ground rules must be clear, consistent, agreed-to, and followed.Where articulated ground rules are missing, natural behavior patterns often emerge spontaneously. We will write a custom essay sample on Management and Team Environment Written or any similar topic only for you Order Now * We intend to develop personal relationships to enhance trust and open communication. * We value constructive feedback. We will avoid being defensive and give feedback in a constructive manner. List some of the personal rewards and simulation offered to team members acknowledging their excellent performance. * Basic to advanced job-related computer software training to employees. In-house management and supervisory training to all supervisors/managers across departments, including programs ranging from conflict management to grammar skills.* Employees are exposed to work that is award winning and cutting edge as evidenced by the numerous awards continuously received. Also, new employees have a unique opportunity to work with proven leaders in their respective fields. What are some of the challenges you have faced when you tried to bring innovation in your team? Increased effectiveness and efficiencies; * Delivering fresh thinking and new ideas; * Creating synergies across different functions; * Product and service development. 1. With examples explain how external factors contribute innovation in teams. * Management * Manpower * Machine * material and * political * enviroment * socia-cultural * technological and * Ecological Factors Affecting Management Functions at of Mcdonald’s McDonalds is known worldwide and is now in 122 countries with over 22,500 restaurants throughout.To create the successful business that McDonalds has created, there is an excellent foundation of planning, organizing, leading and controlling. These are the four functions of management. However, there are many factors that affect these four functions. They are affected by internal and external factors. They are also affected by globalization, technology, innovation, diversity and ethics. The McDonalds management teams use delegation to deal with the different factors to control the four functions of management on a daily business to keep McDonalds successfully running.No comments PART 2 Case study Analyse the factors you believe led the problems in the bearing assembly team: One of the greatest challenges a leadership has is in moving his or her team though the various team development stages. If a manager has no, or little experience of teams and team dynamics then taking over a team and then leading that team can be a very stressful experience. Every manager should know what the various growth stages are of a developing team and they should know how best to move the team through these stages with the minimum of fuss and stress.Unfortunately, many managers do not get the necessary training or coaching in this area of team development and as such teams go through a lot of stress and turmoil when perhaps this could be minimised quite considerably. He should have enco uraged each team member to do likewise. Ensured that the team had a set of rules and guidelines and that the team had an input into how these rules are formed and agreed. Rodney should have gone over again the agreements made by the team during the forming stage and ensured that the understanding is uniform across the team.The role of Rodney was to ensure that this calm continues and that any behaviours that arised that would have been threaten the calm are channelled in the right direction. Also the leadership has an important role in conveying information particularly in relation to the successes that are starting to occur within the team. He should have been spending a lot of time with individual team members coaching them and supporting them to develop their capabilities that relate to the individual’s team role and the tasks that they have to perform in relation to the team goals.What specific steps can Rodney take to help the team through this crisis Rodney, as a leadership should have ensured that the team meets and understands the team goals, the roles they have to take on and the rules by which they have to play. He should have let th e team bleed a little and then began the healing process by facilitating their coming together. He should lessen the direction and spent time with individuals starting to coach them in relation to their roles within the team and the tasks that they had to perform. How to cite Management and Team Environment Written, Papers

Australian Government Productivity Commission

Question: Discuss about the Australian Government Productivity Commission. Answer: Introduction The focus of revenue for the government of Australia is the tourism industry of the country (Auspost.com.au, 2016). The tourism industry has been the highest GDP gainer for the country. In addition to this, the number of luxury travelers is also on the rise. The Sifotel Hotel, located in Darling harbor, is in the verge of completion in the year 2017 and currently looking for the target market where it can promote its business (Sofiteldarlingharbour.com.au, 2016). With a 35-storey building and more than 600 designer rooms, it is going to be one of the most luxurious hotels in the land of Australia. The report will look into the target market of Sifotel Hotel and specify the customers who will be interested in the hotel. Target market/ segment characteristics Domestic and international The luxury tourist from domestic and international locations should be the target customers for Sifotel Hotel in Darling Harbor in Sydney. It has been seen that the international travelers in Australia has spent $34.8 billion in the year 2015. In addition to this, the number of family trips for domestic travelers has been on a rise. Australia topped the list of buyers in the Pure Life Experience Hospitality Conference that was held in Marrakech as far as buying the hotels and tour operators are concerned. The Accor Group should also give special attention to their food as the travelers in Australia are getting inclined to the luxurious cuisines offered by the country. The travelers who are travelling to the country to taste the food of the place can also be the target of Sifotel Hotel. The government of Australia is highlighting the sophisticated local culture of Australia. Thus, they can target the tourists who are coming to Australia to taste the various cuisine of the country (Oates, 2015). The focus of the Accor Group should also be towards the older age group as many luxury travelers are falling under that age. Many travelers in Australia travel after retirement or with family when they are in the verge of retirement (Kmet, 2015). As they have earned and saved a certain amount of money, the urge of luxury travel is found to be more among this age group. As far as the tourism industry of Australia is concerned it is becoming the favorite among the people who are aiming for luxury travel. The numbers suggest that the market for luxury travel has enhanced. There has been a rise of 30.5 percent in the luxury travel in Australia in the year 2015 surpassing the United States, which has seen an increase of 26.2 percent in the same year (Hurd, 2016). Specific characteristics of target market The Accor Group should target the visitors from America, as there has been significant rise of international tourists from these two countries. The visitors from America and China are looking forward to some luxurious holidays in Australia. For the high-end travelers from America and Canada, Australian has been a common favorite. A study shows that there has been significant rise for luxurious holidays at Queensland , Victoria and Western Australia (Travelandtourworld.com, 2016). The topmost state among the list is Queensland, which has received a rise in the booking by 48 percent from the travelers in the United States. Victoria and Western Australia follow Queensland with a rise in booking 26 percent and 11 percent respectively. Due to the huge footfall of luxurious tourism, John OSullivan, the managing director of Tourism Australia has been planning to do a joint venture with one of the travelling companies in the United States. Figure 1: list of countries from where the visitors spend nights in regional areas in Australia (Source: Australian Government Productivity Commission, 2015) The above graph shows that the footfall from the countries like the United States, New Zealand and the United Kingdom is highest as far as spending nights in Australia is concerned. Hence, the Accor Group should target the international tourists from the top three countries and attract them towards the Sifotel hotel located in Darling Harbor region in Sydney. Specially designed advertisement that could attract the tourists from the above-mentioned countries would be helpful to get the most from the target market. The graph also shows that the international visitor from India, China and Singapore should get the least priority as far as the target market of the Accor Group is concerned. As far as the domestic travelers are concerned, the Accor Group should focus on the travelers who are in the age group of 50-54 years. On the other hand, the number of people who are travelling within Australia has been declined in the age group of 24-29 years. According to a study, the age group of domestic travelers was 45-49 years in the year 2002. However, in the ears 2012, the peak age group has risen to 50-54 years (Auspost.com.au, 2016). Thus, the Accor Group can target the individuals who are in the age group of 50-54 years. During that age group, the travelers are more interested in family tours and hence, the promotions should be targeted with the advertisements that will promote the family tours. The domestic holidays for the people living in Australia are mainly interested in weekend breaks that with duration of two to four days. Hence, the target market for the Accor Group should be those individuals who are travelling with the family for a few numbers of days. They can give special discounts in weekends so that the domestic travelers get attracted to Sifotel Hotel to spend their weekend. Conclusion After evaluating the tourism sector of Australia and the type of hotel that Sofitel is coming up to be, it can be concluded that the luxury travelers should be the main target for the Accor Group. Both the domestic and the international travelers are aiming for luxury tours. The main target market from the domestic industry will be the family travelers as they are more likely to go for weekend gateways. The international travelers from the United States should be the target as the flow of tourists from the United States to Australia is the highest. References Auspost.com.au,. (2016).Travel Trends - How Australians Travel - Australia Post.Auspost.com.au. Retrieved 8 September 2016, from https://auspost.com.au/how-australians-travel.html Australian Government Productivity Commission,. (2015).Australias International Tourism Industry Productivity Commission Research Paper(1st ed.). Retrieved from https://www.pc.gov.au/research/completed/international-tourism/international-tourism.pdf Hurd, S. (2016).Australia in prime position for luxury tourism growth.Impactpub.com.au. Retrieved 8 September 2016, from https://www.impactpub.com.au/micebtn/85-news/btn-news/17810-australia-in-prime-position-for-luxury-tourism-growth Kmet, M. (2015).Luxury Travel Report: Things Are Looking Good for 2015.Travelmarketreport.com. Retrieved 8 September 2016, from https://www.travelmarketreport.com/articles/Luxury-Travel-Report-Things-Are-Looking-Good-for-2015 Oates, G. (2015).Tourism Australia Uses Food to Drive Luxury Travel Spending.Skift. Retrieved 8 September 2016, from https://skift.com/2015/12/07/tourism-australias-food-marketing-is-helping-drive-luxury-travel-spending/ Qualia.com.au,. (2016).qualia - Press Releases | Hamilton Island.Qualia.com.au. Retrieved 8 September 2016, from https://www.qualia.com.au/Media-Centre/Press-Releases/Insights-from-the-inaugural-2015-Australian-Luxury Sofiteldarlingharbour.com.au,. (2016).SOFITEL DARLING HARBOUR.Sofiteldarlingharbour.com.au. Retrieved 8 September 2016, from https://sofiteldarlingharbour.com.au/ Travelandtourworld.com,. (2016).Australia a Top Destination for American Luxury Visitors - Travelandtourworld.com.Travelandtourworld.com. Retrieved 8 September 2016, from https://www.travelandtourworld.com/news/article/australia-a-top-destination-for-american-luxury-visitors/