PETITION FOR UNSPONSORED LEARNING Essay Example | Topics and Well Written Essays - 2000 words

PETITION FOR UNSPONSORED LEARNING - Essay Example We raised her and provided all her physical and emotional needs. Unfortunately, my wife and I separated in March 2006. In the intervening period, we tried our best to sort out the seeming differences between us. Nevertheless, all the efforts failed to bear fruit. Consequently, the marriage was finally dissolved a year and seven months after the initial separation. Just like my wedding seven years earlier, my divorce in October 2007 was a fundamental event in my life with wide-ranging effects on my young family. After the conclusion of my divorce, I was awarded full custody of my minor child. Although I was ecstatic at the opportunity of raising Jordan to maturity, I was aware of the fact that such a monumental task would run me to the ground. Nevertheless, I was determined to do my utmost so as to fulfill all my obligations. There are various significant events that influenced the experiences discussed in my learning assignments. The first major event came after my graduation from high school in June 1998. In August 1999, I formed my company and gained my first shot at autonomy. The beginning of my work experience formed the first step in a long line of employment positions that I was privileged to hold from then onwards. Another significant life event that shaped my life was my marriage in May 2000. My wife and I had been acquainted since childhood, and the sense of attraction had grown over a long period. Therefore, it was extremely satisfying to tie the knot finally and have her as my wife. The start of my marriage coincided with the beginning of my professional career. I teamed up with my wife and formed a business called Accurate Answers. The company began operations in January 2001, barely a few months after our wedding. The corporation offered DNA and drug testing services. Accurate Answers provided onsite drug testing for county courts, consumers, and businesses. The success of our marriage coincided with the

Evolution Of Central Banking In India Finance Essay

Evolution Of Central Banking In India Finance Essay The term paper discusses the role that the Reserve Bank of India has played in the Indian banking system. In the start it talks about the evolution of the bank and its preliminary functions. Then the role of the bank in the last two decades has been studied taking into account structural changes made by the bank so as to adapt to the changing needs of the banks in the dynamic economic environment. It can be observed that the role of the Central bank has changed from being a mere controller to an enabler where it is in a position to make the banking industry make significant contribution to the countrys economy. The paper also discusses the supervisory role of RBI where it is trying to implement the Risk Based method to supervise banks. The paper concludes with the future outlook on the banking industry and how the RBI should evolve further when compared to Central Banks in developed economies across the world. The Reserve Bank of India Evolution of Central Banking in India Reserve bank of India is central bank of India and regulates all the banks of the country. It all started in late 18th century when first time in the history of India Warren Hastings felt that there is need of centralized bank in India. His recommendation didnt reach at a thoughtful conclusion of creating a central body to regulate the banking in India. Later when demand of central bank increased in the 20th century and Lord Keynes also recommended setting up a central bank. Three Presidency banks Presidency bank of Bengal, Presidency bank of Bombay and Presidency bank of Madras merged to form Imperial bank of India to make central bank of India. A bill was brought in the assembly to establish RBI as central bank in in India in 1927 but got refused. In the third round table conference held in the year 1933, it was recommended to set up a free body to control the banking system in India. Due to all these fresh recommendations a fresh bill tabled in the parliament on 22 December 1933 a nd got passed in year 1934. Reserve bank started its function from April 1 1935 under the Reserve bank of India Act 1934. Evolution of Role and Functions Role of RBI is evolved over the period of time. In the initial stages it performed two basic functions. First, it acted as a central point of reserves for Indian banks and timely lend to the banks as they required funds for the operations in the emergency case. Second, it functioned as a regulator for the Indian banks and made sure that they perform their activities in the interest of the depositors. In the years before the independence, banking network and scenario in India was not spread properly all over the country. They were divided in the foreign banks and domestic banks. Foreign banks mostly served to the British companies in India. Domestic banks were only engaged with domestic groups and overall banking intermediation among the banks and the customers was weak. The Reserve Bank of India (RBI) or the Central Bank is the backbone of the Indian financial system. It was set up under the Reserve Bank of India Act, 1934. RBI was initially started with 5 crores of capital and governed by directors of central bank. Since its inception in the year 1935, the functions undertaken by the bank have not only increased but have also undergone changes in accordance with the changing needs of the Indian economy. It was in the year 1949 that the bank was nationalized. The role and functions of RBI became critical after independence and worked in order to increase the saving habit in India to generate more wealth for growth of the country. More the people will save and more will be the investment in the projects. Its roles were primarily on the basis of this hypothesis that the poor were unable to save and increase funds on their own. RBI was assisting government to establish institutions to serve the public by providing funds for specific functions. After second five year plan in 1956 government of India came up with decision of establishing financial institutions with assistance of RBI. These institutions were Industrial development bank of India (IDBI), Industrial Credit and Investment Corporation of India (ICICI), Industrial Finance Corporation of India (IFCI). They will make credit available and perform their functions at central level and work as apex institutions for such state level and regional institutions. The role of RBI became concentrated after the establishment of these institutions. The Functions of RBI evolved with expansion of banking. RBI played a vital role to make the banking facilities available in the concerned areas. Banking reached to remote areas of the country. SBI was formed in 1955. Imperial bank of India was converted in State bank of India in the year 1955. Then came the period of very critical moves of the Indian banking history when 14 banks were nationalized in 1969 and in 1980 when 6 more banks were nationalized. These bold moves led to the increased network in the rural areas of the country where most of the population was based. The traditional credit was for agriculture and a specialized institution being established in 1963 with name of Agriculture Finance Corporation (AFC) which later converted into NABARD in 1982. The role of RBI expanded after these institutions as these institutions helped the country to evolve with better banking facilities. Functions of Reserve Bank of India These are some basic roles which RBI performs in the country: Issue currency notes: RBI is only authorized government body to issue notes in the country. It has one issuing department to issue notes of 2,5,10, 20, 50, 100, 500 and 1000. One rupee note is issued by the finance ministry of central government. Bank of the Government: RBI is known as the banker or Agent of central government. It holds deposit of the government and pays on the demand of government. It also gives timely advice to the government on the financial policies. RBI issues bonds for the government and manages debt for them with appropriate charges. Bank of the banks: RBI also performs the job of banker for the all the banks in India. All banks who came under RBI act, have to put their cash reserves at the rate called CRR with RBI. RBI will regulate and supervise the operations of banks as soon as they are incorporated under the RBI Act. Banking System Regulator: RBI is responsible for the regulation of Indian banking system. All banks who comes under RBI Act 1949 are bound follow the guidelines issued by RBI. RBI has powers of licensing, management, expansion, inspection and direction in this regard. Clearing House: RBI is responsible for the settlements among the banks. It runs clearing houses in major cities to for the settlements and smooth transaction of cash between banks. Credit Control: Credit Control is another important role that RBI performs. RBI performs credit control duty with the help of qualitative and quantitative instruments. Some qualitative measures are selective credit control, rationing of credit, moral persuasion and direct action. Bank Rate, Cash Reserve Ratio, Statutory Liquidity Ratio, Repo Reverse Repo and Open Market Operations are quantitative instruments to control credit. THE ROLE OF THE BANK POST 1990: In the early 1990s, the country was faced with the crisis of maintaining its diminishing foreign exchange reserves. There was a need to put in place a new economic framework and policies so as to deal with this situation. This period saw the introduction of economic reforms which made the environment more conducive for the functioning of the private sector. During this period it was the Reserve Bank of India which was entrusted with the task of regulating the new system that was put in place, bringing in technology to strengthen, modernize and make the functioning of banks more efficient, introducing varied monetary policy instruments and management of currency. As of today, keeping in line with the changes that need to be incorporated in the functioning of the Central Bank, the bank is divided into 27 departments where each department is responsible for policy making in a particular area assigned to it. Depending on the requirement the bank has in the past added new departments and closed down some of the existing departments. The Central Board has the responsibility of the proper functioning of the Central Bank. The aim of the Central Bank is to ensure stability of prices while supporting economic growth. The role of the central Bank has evolved over the years from being the implementer of the monetary policy to include other functions such as regulation and supervision of the countrys banking system. Moreover it has also gained greater autonomy in its functioning with regards to managing its own personnel, financing expenditure for the government where the RBI (rather than the government) can decide the amount of funding provided to the government, this further means that the monetary policy can be implemented independently of the fiscal policy and the new instruments introduced by RBI give it more flexibility so to better respond to changing macroeconomic environment. Post 1990, various changes have been made by the bank in its structure and operations to deal with the responsibilities thrust on it. In the year 1994 the Board for Financial Supervision was formed and was given that task of regulating, auditing and supervising banks, NBFCs, and financial institutions. Although the body exists under the RBI it is independent in its functioning which is not the case for many Central Banks across the world. In the year 1995, Bhartiya Reserve Bank Note Mudran Private Limited was formed as a subsidiary of RBI. The reason for its formation was the management of the banks two printing presses so as to handle the supply of currency in the economy when needed. The Financial Markets Committee (FMC) has been established in the year 1997 and is responsible for providing inputs on a daily basis with regards to the same. The Technical Advisory Committee (TAC) has been formed in July 2005 where its role is to advise the bank on the actions that it should take whil e reviewing the monetary policy. Also introduced in the second half of 2005 were the pre consultation meetings and resource management discussions (conducted every year) where apart from the Indian Banks Association, representatives from other banking and financial institutions are also present so as to give their opinions and views regarding which direction the economy is headed before the monetary policy review. Such interactions will make the policy review inclusive and transparent. Another area of change in the recent past is more interaction by the bank with the journalists and the media resulting in better dissemination of information. NEW MONETARY POLICY INSTRUMENTS INTRODUCED AFTER 1990: Apart from the Cash Reserve Ratio (CRR) and the Statutory Liquidity Ratio (SLR), the bank in the last decade has introduced other instruments such as Open Market Operations (OMO) and Liquidity Adjustment Facility (LAF) to manage short term liquidity requirements for banks, also introduced in 2004 was the Market Stabilization Scheme (MSS) for managing excess liquidity because of inflow of capital into the country from abroad. The portfolio of monetary policy tools that the bank has, gives it the required flexibility to deal with the changing macroeconomic conditions and make monetary policy transmission more efficient and effective. To protect the monetary policy from being impacted by the fiscal policy (fiscal deficit monetization), the Fiscal Responsibility and Budget Management Act was passed in the year 2003, this has given more autonomy and control to the bank with respect to the monetary policy. The bank has also given its view with regards to inflation where according to it the upper limit on the inflation should be around 5 %. This has influenced the acceptable level of inflation to come down. The RBI has had the freedom to make changes with respect to the mandatory provisions that banks have to make (such as CRR and SLR which are direct monetary policy tools) and the assignment of risk weights as and when needed. EVOLVING SUPERVISORY ROLE: There has been a gradual shift in the supervisory and regulatory roles that RBI had been assigned. Initially the Central bank was mainly concerned with maintaining solvency of banks operating in the system where it issued directives and guidelines with regards to granting of licenses, the level of reserves to be maintained, specifying interest rates for lending and deposits, requirement of capital. Whereas now the RBI is trying to put in place processes which take into account the countrys economic condition and are in line with those followed by Central banks across the world. The Central Bank has successfully handled the role of a supervisor for the changing Indian banking industry. Earlier Central Bank was more concerned with ensuring that the banks in the system were adhering to the all the safeguards laid down by it. The approach used gave more importance to a banks financial statements and checking for any incidence of non compliance (offsite, onsite inspections, CAMELS method). Under this approach the information that could be obtained from the banks financial statements was used as the criterion by the auditors to form any judgment about the bank. This approach had been sufficient in the recent past when the banks in the system had limited their business to lending out and getting deposits. However post 2000; the banking industry has seen the arrival of technology and the introduction of extremely complex financial instruments or products (for instance Securitization, Derivatives) which have linkages across different markets. This has made the supe rvisory role of the bank even tougher. With the complexity and the risk in the banking system increasing the earlier method of supervising the banks is no longer sufficient. It fails to take an overall view of the banks business. It does not look at how much risk the bank is facing, whether it is able to understand it and is in a position to manage it. Thus the Central bank is now focusing on the Risk Based method for supervising banks. This is still an ongoing process. Through this method the level of risk associated with a particular bank can be estimated and a specific supervisory plan can be developed for the bank. The following diagram shows the steps involved in risk based assessment. SUPERVISION CYCLE: Understanding the bank profile and developing a Risk Matrix based on inputs from offsite monitoring and surveillance, internal capital adequacy assessment, audit reports, market intelligence Planning the supervisory action to be taken, defining its scope and objective and communicating it to the management of the bank Discussion with management, Monitoring action plan, mitigation of risk, required level of supervision Surveillance Review and Evaluation Process, Assessment of Capital, onsite inspection and determining the risk rating The Risk Assessment Matrix combined with the Risk Impact Rating gives the level of supervision needed for the bank. The Risk Assessment Matrix is as given below: Risk Group Weights Risk (Net) 85% Risk(OG) 15% Risk (inherent) Risk (control) Risk associated with governance and oversight Credit Risk (CR) 30% 70% 30% Market Risk (MR) 20% 70% 30% Operational Risk (OR) 20% 70% 30% Liquidity Risk (LR) 20% 70% 30% Pillar 2 Risk (P2) 10% 70% 30% Now for any group say Credit Risk Risk Credit = 0.7 * Risk Inherent +0.3* Risk Control Similarly it can be calculated for all other groups. Now the Risk (Net) = 0.85*(0.3* Risk Credit + 0.2* Risk Market + 0.2 * Risk Operations +0.2 * Risk Liquidity + 0.1 * Risk Pillar2) + 0.15 * Risk OG Risk of Failure = 0.2*(Risk (Net)^2 + Capital available) The risk of failure is arranged on a linear scale from 0 to 4. The score obtained above is then combined with the Impact Rating (again arranged on a scale from 0 to 4) to get the necessary supervisory action to be taken for the bank. The impact rating is dependent on the following factors: Size Interconnectedness Cross Jurisdictional activities Complexity Infrastructure Each factor is again assigned a weight and is further dependent on impact indicators. Risk Impact Index Matrix Risk Failure Impact Rating 16 64 144 256 9 36 81 144 4 16 36 64 1 4 9 16 Risk Impact Index = (Risk Failure)^2*(Impact Rating)^2 For the matrix shown above in column 1 Risk Failure = 1 and Risk Impact varies between 1 to 4, similarly in column 2 Risk Failure = 2 and Risk Impact again varies between 1 to 4. Each bank will lie in one of the boxes and the different colors indicate the type of supervision needed for a particular bank. The type of supervision recommended by the Central Bank is as follows: Color Supervision Needed Baseline Monitoring Close Monitoring Active Oversight Corrective Action The level of monitoring becomes more stringent as we move down the above table. For banks with high risk of failure (say 4) the action is stringent irrespective of the impact rating. Future Outlook Comparison of RBI with other central banks of the world On comparing RBI with other central banks of the world, we see that each bank adopts different tools despite having similar objectives. The difference in the same can be seen in the structure of the balance sheet of the respective countries. Some of the salient features of major world banks are: FED In USA, the central bank controls the fund rates through Open Market Operations or OMO by infusing or absorbing liquidity through the purchase or selling of US treasuries. Other tools used are Discount rate facility and Reserve requirements which help control the banks. FED also introduced certain new tools such as term deposit facility, primary dealer credit facility etc. after the 2008 crisis where poor regulations were attributed to the market crash. USA is thus follows an active market based system. ECB ECB on the other hand follows more of a bank based approach. Though ECB also adopts OMO, it follows a different approach where it produces money and lends it to banks similar to a repo transaction where the preferred collateral is government bonds. This difference can also be attributed to the history of the nation with USA traditionally being a supporter of open market. Hence during the crisis, the FED responded by providing liquidity to entities such as Mutual funds, Primary dealers etc. while ECB s approach was centered on the various central banks. Comparison with RBI On comparison of the above banks with RBI, we clearly see certain similarities as well as differences. India being a developing nation does not hold the power of developed nations and hence RBI uses both Repo transactions as well as OMO purchases to control the financial system of the nation. India predominantly follows a bank based system where the RBI controls the banks and lays down guidelines for its operation. This has helped put in place a strong foundation for the growth of the nation but looking forward with the development of financial markets in India, the RBI would need to ease down regulations in order to help the nation progress. Currently the banking industry in India is unattractive for players to enter due to stiff competition as well as guidelines from the RBI. The comparison of the balance sheet of RBI with other central banks revealed some interesting insights. For the analysis, we compare RBIs balance sheet with balance sheets of central banks of both developed and developing nations. The banks we have taken into consideration are the USAs Federal Reserve, European Central Bank, Swiss National Bank (SNB) and Brazils Banco Central Do Brazil (BCB). For Europe, balance sheet of ECB and 17 other national banks have been combined to give a better idea. This has been named as ESCB or European System of Central Banks. From the diagram we see that central banks of developed economies rely more on bank reserves for creating liquidity (Bank Reserves 2% to 53% in 2011 for Fed). The share in currency during the period has decreased. For RBI we see that there has been no major change during the years. Analysis of the graph above shows that for developed economies, domestic assets form the largest share of assets while for India the share of domestic assets has increased over the years. From the above analysis, we see how having good regulations helped India ride out the 2008 crisis without any major loses while we see significant changes for developed nations. India is thus heading in the right direction in terms of how the central bank is molding itself to propel Indias growth in the future. Bond Market in India The corporate bond market in India is currently underdeveloped with high financing costs acting as a hindrance for firms to raise money through this avenue. On analyzing the financing polices of firms from 2000-01 to 2010-11 we see that of the total debt raised by companies the proportion of debt raised from banks has increased from 14% to 18% while the debt from bond markets has stagnated and rose only marginally from 3.5% to 3.9%. Even though the corporate bond market in India is underdeveloped at the moment, it is clear that in order for India to be a developed nation bonds markets have to be come up in order to ease the capital pressure on the banks. In this context the role of RBI going forward will change. Currently we see that there is lag whenever RBI announces a policy since banks take time in responding to directives like say a cut in interest rate while an active bond market will ensure such lag is eliminated. A cut in interest rate by the RBI will increase the bind prices in the market and thus help in faster policy implementation. ROAD AHEAD From the above analysis we see how the role of RBI has changed over the years and how it fares in comparison to other central banks of the world. The measures taken by the RBI has ensured we have a strong financial foundation which has helped propelled the growth of the nation. Going forward, with the development of financial markets (strong equity market and inevitable development of bond market) RBI should change its role to attract investors and bring in more capital to help fuel the growth of India. RBI thus needs to ease regulation in a way which would make banking attractive and promote the good institutions in the system but at the same time learn from the mistakes committed by developed nations in ensuring we have strong regulations which help prevent potential crisis. The RBI can thus ensure that the late entry of India can thus work in its favor in ensuring that the banking industry keeps pace with the growth of the nation and helps India become a developed nation in the near future.

Essay --

BIOT643 Spring 2014- Quiz2 (50 points) Due in TIN and Assignment folder before midnight Sunday Feb 23rd. Please provide short, but specific and complete answers. Q1) For each of the following components, briefly describe how each is used in the construction of DNA libraries. (5 points each) Reverse Transcription is an essential step in constructing a complementary strand, or cDNA library. DNA is converted into mRNA by transcription. In reverse transcription mRNA is incubated at 70 degrees with a primer to denature the structure. This will allow the primer to anneal to the mRNA. After dNTPs and buffer are added to the reaction. Then, transcription occurs at 37 degrees Celsius, followed by the temperature is increased 70 degrees Celsius to inactivate the enzyme (Life Technologies). A 3’ end polyA tail, is used to pull the mRNA from the cells and starting point for reverse transcription in order to make cDNA from the mRNA. Then, the ribonuclease breaks the mRNA to make a produce only a single stranded cDNA (Ebrahimian, 2014). The 5' cap of mRNA strand is replaced with a synthetic RNA oligonucleotide, called 5’-Oligo –Capping. The 3'end PolyA and the 5' Oligo cap are tags to make sure the ends of the mRNA molecule are present in the cDNA. The cDNA, with now a 5' Oligo cap and 3' end polyA, through DNA polymerase is entered into a vector to make cDNA clones (Ebrahimian, 2014). A way to chop an entire DNA of an organism is with restriction enzymes. A restriction enzyme makes small fragments. Two examples of these enzymes used MMLV and SSIII (Life Technologies). The small fragments are then cloned into a vector (Ebrahimian, 2014). In a genomic library, the vector creates a recombinant. Eventually the cloning of numerous recombinan... ...gical is used to identify the protein. You will not use hybridization if a DNA probes, such as homologous and heterologous gene probe is not available. In addition, hybridization screening will be used for large number of clones, if the cDNA clone is not at full length, and synthesized products in the host that are not antigenically of biologically active (Ebrahimian, 2014). Reference: Cloning and Molecular Analysis of Genes. (n.d.). North Dakota State University . Retrieved February 20, 2014, from http://www.ndsu.edu/pubweb/~mcclean/plsc431/cloning/clone5.htm Ebrahimian, S. (Director) (2014) Definition of DNA Library. BIOT 643. Lecture conducted from University of Maryland, University College, Adelphi Life Technologies Corp (2012, December 6. Simplified RT- Reverse Transcription Animation. Retrieved February 21, 2014. http://www.youtube.com/watch?v=0MJIbrS4fbQ

Examine the Hindu views on arranged marriages Essay

To what extent can Hindu arranged marriages survive in a multi – cultural society In this essay I will examine the Hindu views on arranged marriages and how they are surviving in s multi – cultural society. I shall use secondary research to back up what I mention within this essay. An arranged marriage is a marriage in which neither the bride nor the groom has a say over the selection of their future spouses. However, in an arranged marriage, both parties give full consent to the marriage. Arranged marriages have been proven to be successful. Arranged marriages have been a traditional aspect of family life in Hinduism. According to Hinduism, a marriage between two people is seen to be a holy relationship, that is just not limited to this one life, but extends across seven or more lives during which, the couple will help each other grow as people and progress spiritually. Two souls come together and marry because their karmas are intertwined and they have to resolve many things together upon earth in order to ensure their mutual salvation. In Hinduism, man and woman represent the two halves of the divine body. There is no question of superiority or inferiority between them. When parents are in search for a partner for their child, they firstly look at the religion, language and caste. These are very important factors that most parents do not overlook for arranged marriages. In India, parents feel that a girl can be a potential wife at the age of eighteen and parents get worried if she remains unmarried past twenty four or twenty five. It is acceptable for a boy to remain unmarried till his late 20s, but after that questions are asked about his appropriateness as a husband. This does not necessarily apply to a growing urban middle class population. Once the families have agreed on their children’s marriage they consult a family priest or an astrologer to fix the wedding date according to their astrological charts and thereafter invitations are sent to family and friends. The Hindu marriage ceremony entails several functions before the â€Å"big day†. However the wedding day itself has many religious rituals which need to be followed and is a custom for all Hindus. Firstly there is the â€Å"Panigrahana†; this ritual is carried out by the bride’s father, where he would offer the hand of the bride to the groom. The next ritual is the exchanging of the vows with fire as the witness. A â€Å"Havankund† or fire is lit and the priest recites the relevant hymns from the scriptures. Each time the bride and groom go around the fire they exchange vows. The next ritual is the â€Å"Saptapadi†; at the end of the ceremony the couple take seven steps together; each step represents strivings for their married life. The first step is taken for God and the growing of their spiritual progress together, the others are for health, wealth, strength, children and happiness. The seventh step represents life long friendship between husband and wife. The other key feature of a Hindu marriage, which everyone is familiar with, is the marking of the bride’s forehead with red powder called â€Å"kumkum†. This merely shows the females status. Love marriages are on the increase in Britain, but there is still a lot of doubt about them amongst the elder generation. Love marriages within the same caste and financial background are favoured, compared to inter-caste and inter-religious marriages. Couples who dare cross the social conventions have to cope with a lot of social pressure within their families and outside. These problems are more acute in the rural areas compared to the urban areas and metropolitan cities. Much depends upon the family background. If parents are educated and enlightened on both sides, things would be easier for the children, who get involved in unconventional relationships. I would say one of the evils of Hindu arranged marriages in India especially is the ever- present dowry system. The amount of dowry can be a very substantial amount, even in dollar terms, depending upon the financial status of the parties involved. Sometimes greedy mother-in-laws and husbands subject the poor brides to innumerable hardships for not meeting their expectations in respect of the dowry. Cases of bride burning are not unknown. Indian penal code prescribes severe punishment for such acts. But the cases take years and decades before the courts deliver justice. Many Indian families who have settled outside of India still uphold the tradition of arranged marriage. Being part of two cultures can be hard. Young people born in Britain but from an Indian family can find this particularly difficult if their modern western lifestyles clash with their parent’s hopes and wishes.2 Many young Indian people living in Britain know that one day they will agree to an arranged marriage. To deny their parents this would be a sign of deep disrespect. Many families are able to discuss the issue and reach compromises that are suitable for everyone. For example insist that you are happy to meet with prospective partners but that you must like your match. Family, friends and relatives will be informed once they have decided to go ahead and soon meetings will be organised. They will be matched according to their education and experience, a suitable caste, or social class associated with the Hindu religion. Many non Hindu’s have a huge misconception about arranged marriages. It is important to make a clear distinction between arranged marriages that are consensual and marriages that are arranged without the consent of the individuals involved. These are sometimes called forced marriages and are against the law in this country. However in rural parts of India this idea about forced marriages still takes place even today. Although Western societies tend to ridicule arranged marriages as backward and uncivilized and old fashioned, there are positive aspects. For example, Westerners focus more on the physical aspect of relationships, and are thus obsessed with love, sex, and beauty. As a result, people get married based on these factors and then get let down by one another very easily. The divorce rate in Western countries such as the U.S. has increased rapidly. â€Å"50% of American marriages end in divorce†1. In contrast, Eastern cultures that practice arranged marriages place far more emphasis on the practical, such as integrity, diligence, ambition, modesty, and kindness. People get married based on practical reasons, and work on building affection later. Strong characteristics like the ones described above are very favourable to building love and affection in Eastern marriages. As a result, these marriages are much longer-lasting than many Western marriages. It is because the primary emphasis is not on love, sex, and physical beauty that arranged marriages are usually so successful, because the spouses get to know one another on a practical level first, looking beyond trivial issues such as beauty. I know it can go both ways, there are many arranged marriages that are just total hell, and there are marriages that started out based only on infatuation and grew stronger as time passed. But I think as long as one looks for the right characteristics in a potential spouse, then, arranged marriage can definitely work. People within the western civilisation are mistaken by the term arranged marriages. Arranged doesn’t necessarily mean â€Å"fixed†. Arranged marriages it encompasses a lot of different varieties: the harshest arranged marriages are almost forced upon the bride or groom while the most liberal ones start with just an introduction of the couple through their parents and the rest is up to the couple. If they feel they are compatible then they would go ahead with the marriage. If they decided not to get married they would remain friends. I feel that within Britain today, Hindu parents have become liberal with their children dating and â€Å"seeing† each other. Parents are now influencing their children to look for someone within University get to know them for at least a couple of years and then decide on whether they are right for you. I think if the parents know about the son or daughter’s partner and they are Hindu, have a good family background and most importantly are educated then the parents would definitely agree to the marriage. In fact, the advantages and drawbacks of arranged marriages cannot be so easily appraised. The incidence of divorce among Indian-born British/Americans is dramatically lower than among British/Americans generally, but that partly reflects the continuing disgrace of divorce. Even as the divorce rate among Indian British/Americans appears to be increasing, the topic is rarely discussed. Divorce reflects poorly on an Indian family, and some proportion of arranged marriages endures not because they are successful or rewarding, but because leaving them would bring such shame. In addition, the concept of a woman living independently is foreign to most people in South Asian culture. Also, a majority of women don’t work in rural areas of South Asian countries and hence find it difficult to have enough money to support them without getting married or after getting divorced. And many endure because the definition of success differs from Western ideas. Traditional Indians don’t expect a partner to be that improbable combination of soul mate/confidante/red-hot lover/best friend. â€Å"The husband-wife bond is one of reliability and dependability and complementary family roles – raising children, caring for elders,† explains Karen Leonard, author of The South Asian Americans and a University of California-Irvine anthropologist. â€Å"They may communicate very little in intimate ways, and it’s still a good marriage.†3. The custom of arranged marriages in India has survived migration and modernization remaining central to the fabric of society. However 95% of all marriages in India are arranged, even among those in the educated middle class. Many Indians challenge that arranged marriages are more successful than marriages in the West, particularly given the latter’s staggering divorce rates. Romantic love does not necessarily lead to a good marriage, and often fails once the passion dissolves, they argue. With most unions between individuals from the same background, the arranged marriage reflects and reinforces the social, economic, geographic and historical diversity of India itself. More like a continent than a country, India is made up of 14 states, with as many languages, thousands of dialects, three major religions, hundreds of sub-religions, an outlawed but still practiced caste system amongst Hindus. The Hindu religion, strongly intertwined in the concept of â€Å"duty,† order that parents are responsible for providing their children’s education and marriage. Once married, their sons take over the running of the household and provide for their parents for the rest of their lives. The arranged marriage has adjusted to modernization. Prospective grooms were once not even allowed to see the photograph of their prospective brides so as to protect an unmarried woman’s purity, her most valuable asset. By the 1930/40’s, such as in my grandmother’s marriage, the couple exchanged photographs, in order to decide if they liked each other. Today couples, depending on how liberal their parents are, have a coffee or meal on their own either at home, or in a restaurant, before deciding to commit. Middle-class women are allowed to reject suitors favoured by their parents. Engagements can now last six months. Western concepts of love triumphing over tradition can be seen in popular Indian films. However, many Indian women in the diaspora are in change. Freedom comes with a price. Some women, after having ended several long term relationships, find themselves in their late 30s alone, with one foot in either world and judged by both. It goes without saying that no marriage, not even an arranged one, is accustomed from basic incompatibility or abuse. But the arranged marriage does have its advantages. Living with the extended family, daughters traditionally live with their in-laws including brothers-in-law and their wives and children which means a free staff of child minders. Apart from the economic savings of a family home, shocks such as a death or the loss of a job can be absorbed. The system cares for elderly parents and grandparents who are generally isolated in Western societies. Also, because the arranged marriage tends to be a union of two families of strong moral and cultural values provides checks and balances against areas that may splinter it, such as unfaithfulness. Most people tend to equate Hindu marriage with arranged marriage. The parents in order to meet this domestic obligation prepare themselves mentally and, more importantly, financially when their child reaches marriageable age. They search for a suitable partner keeping in mind the community â€Å"rules† regarding cast, creed, birth chart, and financial and social status of the family. Traditionally it is the girl’s parents that bear the cost of the wedding and to jumpstart their daughter’s married life they shower her with gifts and ornaments to take to her in-laws. Unfortunately, this has aggravated people’s greed end in the many evils of dowry system. In the end, the discussion of arranged and love marriages comes down to which is better? Obviously, the one that leads to more successful marriages. Supporters of arranged marriages claim that it is more successful, but their definition of success focuses on divorce rates. But are divorce rates really a measure of a successful marriage? Do all the couples that don’t get divorced stay happy with each other? The occurrence of divorce in society depends on a lot of factors including the stigma of divorce. It should be a matter of great concern that we have begun to ignore the ancient and lofty ideals of Hindu marriage and are anxious to follow in the footsteps of cultures that do not value these ideals. No wonder, the number of divorce suits filed by Hindu couples is on the rise. Instead of strengthening the traditional ideals, which for thousands of years have helped us prevent marriage and family break-ups, we are misdirecting our energies towards promoting the ideal of sense-enjoyment and self-interest. In my opinion it is still not too late to be proactive to protect the sanctity of Hindu marriage. 1: http://www.religioustolerance.org/chr_dira.htm 2: http://www.youthinformation.com/infopage.asp?snID=805 3: http://lair.xent.com/pipermail/fork/2003-March/018427.html Words – 2,582 (not including Bibliography)

Case study of the old family bank Essay

Macro The major problem presented in this case is that The Grayson Chemical Company is experiencing a decline in earning and sales. The board of directors of the company has brought in a new company president to help in turning things around for the company. The new president now faces the enormous task of returning the company into a growth path and profitability. Micro There are also micro-problems that emerge in this case that may hinder the new president from solving the macro-problem. One of these micro-problems is an existing culture of conservatism and rigidity in running the activities of company. The new president views this culture as a challenge that may hinder him from implementing appropriate strategies for turning the company around. The second micro-problem is existing sharp differences in opinion among the directors of the company. Each is offering different advice to the new president. Causes The main cause of the problems identified in the case is lack of flexibility and adoptability by the organization to new changes (Reeves & Deimler, 2010). It is stated in the case that the company had in the past experience a stable and profitable spell before things standing going bad. There is clear picture that the company still continued to rely on strategies that gave it past success despite times and market conditions having changed. This lack of adaptability has seen the company fail to improve it competitiveness by embracing new opportunities and addressing new challenges that come with time. System Affected The reliance by the company on old traditional ways of doing things has affected almost every aspect of the organization. It has become part of the organization culture to do things because they have always been done that  way and this culture has affected the entire organization (Organizational Culture, 2010). When a problem arises from the culture of the organization it usually cuts across the entire organization. Recommendations What is needed in order to turn the fortunes of the organization around is a complete change of the existing cultures (Organizational Culture, 2010).. The culture of doing things as have always been done, needs to go and its place taken over by a culture of flexibility, adaptability and innovativeness. This calls for a change of policies and retraining of workers. Reference Anonymous (2010). Organizational Culture. September 8, 2011. Retrieved from http://managementconsultingcourses.com/Lesson35OrganisationalCulture.pdf Reeves M. & Deimler M. (2011). Adaptability: The New Competitive Advantage. September 8, 2011. Retrieved from http://hbr.org/2011/07/adaptability-the-new-competitive-advantage/ar/1

Roy Schender Essays - Law, Statutory Law, Free Essays, Term Papers

Roy Schender Essays - Law, Statutory Law, Free Essays, Term Papers Roy Schender The American colonies revolted against the British for a lot of reasons. America had some characteristics that made it very different from England. One would be that American had no privileged social classes like Britain. Another difference is that America had more religious diversity than Britain. Last would be that America had no urban development compared to Britain. The British imposed a lot of taxes and acts that would anger the Americans. Like the Currency act which made it so colonist had to pay using British currency for all taxes and debts. Another act that made the Americans mad was the quartering act. Which allowed British soldiers to occupy buildings and be provides with necessities. Last was the stamp act which made it so all things made of paper would be taxed. The Americans also had a lot of grievances against the king. Like cutting off the colonies ability to trade with other nations. Another would be for putting taxes on them without them having a say. Last was he got rid of colonial legislatures because they were disobeying orders. Those are some of the reasons why the American colonies revolted against the British.

Free Essays on Go Down, Moses

In the story â€Å"Go Down, Moses† by William Faulkner, many situations come about. The story takes place when sharecroppers were around. Many of the blacks and whites worked hand in hand with each other and there was no apparent sign of racism. One situation that arises was wether or not Gavin Stevens should help Mollie Beauchamp get what she wants. Gavin Stevens, the attorney, at first didn’t want to help Mollie Beauchamp get what she wanted because she has been through so much in her life. He figured that the death of Samuel would result on her behave. Having her not worry about what Samuel would do next is one of the main reasons why Gavin Stevens didn’t want to help at first. After a while of thinking, Gavin then decided that helping her get what she wanted would be the right thing to do. He decided that she needs closure to this event and was willing to help her through it. Mrs. Worsham helped Stevens make the decision on wether to help Mollie Beauchamp or not.. She grew up with Mollie on the plantation, so they grew up acting like sisters. She didn’t want to see Mollie go through so much pain that she helped convince Stevens of his decision. When she convinces him, it’s the first time in the story where Stevens starts to take responsibility. Another situation was how Mollie Beauchamp viewed Roth Edmonds actions towards her child. Mollie Beauchamp viewed Roth Edmands ordering her grandson off the plantation as being rude. She thought as Roth as being the pharaoh. Having all power. She figured, Since he was the owner of the plantation, that he had sold him into slavery. â€Å" â€Å"It was Roth Edmonds sold him† she said. â€Å"Sold him in Egypt. I don’t know whar he is. I just knows Pharaoh got him. And you the law. I wants to find my boy.†Ã¢â‚¬Å" This direct quote from the story shows how upset Mollie is at Roth Edmonds for taking her boy off the plantation. Mollie confuses this event from tha... Free Essays on Go Down, Moses Free Essays on Go Down, Moses In the story â€Å"Go Down, Moses† by William Faulkner, many situations come about. The story takes place when sharecroppers were around. Many of the blacks and whites worked hand in hand with each other and there was no apparent sign of racism. One situation that arises was wether or not Gavin Stevens should help Mollie Beauchamp get what she wants. Gavin Stevens, the attorney, at first didn’t want to help Mollie Beauchamp get what she wanted because she has been through so much in her life. He figured that the death of Samuel would result on her behave. Having her not worry about what Samuel would do next is one of the main reasons why Gavin Stevens didn’t want to help at first. After a while of thinking, Gavin then decided that helping her get what she wanted would be the right thing to do. He decided that she needs closure to this event and was willing to help her through it. Mrs. Worsham helped Stevens make the decision on wether to help Mollie Beauchamp or not.. She grew up with Mollie on the plantation, so they grew up acting like sisters. She didn’t want to see Mollie go through so much pain that she helped convince Stevens of his decision. When she convinces him, it’s the first time in the story where Stevens starts to take responsibility. Another situation was how Mollie Beauchamp viewed Roth Edmonds actions towards her child. Mollie Beauchamp viewed Roth Edmands ordering her grandson off the plantation as being rude. She thought as Roth as being the pharaoh. Having all power. She figured, Since he was the owner of the plantation, that he had sold him into slavery. â€Å" â€Å"It was Roth Edmonds sold him† she said. â€Å"Sold him in Egypt. I don’t know whar he is. I just knows Pharaoh got him. And you the law. I wants to find my boy.†Ã¢â‚¬Å" This direct quote from the story shows how upset Mollie is at Roth Edmonds for taking her boy off the plantation. Mollie confuses this event from tha...