Racial Prejudice An Understanding Of Prejudice And...

Racial Prejudice A child is born without any preconceived notions or beliefs, they are Society’s projects to mold and shape for the future. From the day a child is born he or she begins to learn beliefs that will be carried through life. In fact, according to Stephanie Pappas â€Å"Kids develop an understanding of prejudice and discrimination in a fairly predictable manner. Between the ages of 3 and 6, they begin to understand and use stereotypes† (Pappas, â€Å"Young Kids Take Parents’ Word on Prejudice†). Additionally, Angela Oswalt states â€Å"Children who observe their parents making racist, prejudiced remarks or acting in prejudiced and discriminatory ways learn to be racist, prejudiced and discriminatory in those same ways. Such children may find themselves discriminating against others â€Å"just because† (Oswalt, â€Å"Prejudice†). I was born in South Georgia during the 1960’s and attended elementary school in a small predominately white town. There was a segregation between the white and African American parts of town with separate schools, grocery stores, and churches. During these years we were not allowed to have any friends that were not white. My parents always stated that they were not prejudice but their actions spoke to the contrary. Bush 2 During the 1970’s the family moved to Maryland where communities and schools were completely integrated. This time was my first experience with children of other races, cultures and religious beliefs. I felt comfortable with theShow MoreRelatedPrejudice Or Pre Judgement Is An Age Old, World Wide, Unavoidable Problem1075 Words   |  5 PagesBrandon McClean Ms. Chang English 9-1 18 April 2016 Overcoming Prejudice Prejudice or pre-judgement is an age-old, world-wide, unavoidable problem in society. In To Kill a Mockingbird, Harper Lee describes the negative impact prejudice can have on others. Atticus Finch, Tom Robinson and Arthur â€Å"Boo† Radley all face differing forms of discrimination because in their own way, each one is different than the typical citizen of Maycomb County. While trying to help others and do the right thing, allRead MoreSociological Theories Of Prejudice And Racism1645 Words   |  7 PagesSociological Theories of Prejudice and Racism Functionalist theory argues for race and ethnic relations to be functional and thus supply to the melodic conduct and strength of society, racial and ethnic minorities must assimilate into that society. Assimilation is a process by which a minority becomes socially, economically, and culturally absorbed within the dominant society. The assimilation perspective assumes that to become fully fledged members of society, alternative groups must adopt as muchRead MoreRacial Discrimination And Discrimination899 Words   |  4 PagesDiscrimination has been in occurrence in our society more definitively in the past few decades, compared to before the sixteenth century, when the ancient world was so small that physical differences of people went unnoticed (Cashmere and Jennings, page #). I intend to analyze discrimination by looking at racism, sexism and genderism in advertisements from Dove, Nivea, and Bristol CityFox Taxi Firm. This advertisement analysis is going to dig into the underlying factors of discrimination – includingRead MoreThe Difference Between Race And Racism Essay1037 Words   |  5 Pages Understanding the difference between race and racism is a very controversial topic. Even I am trying to understand the difference between the two words. When individuals think about race the first word that comes to mind is racism, I would think its the same, but it’s not. When exploring the web to differentiate the meaning of these two words, one-word that keeps popping up is â€Å"racism†. The words are so similar which makes this topic difficult to write about, but as my English teacher CoarleeRead MorePrejudice: A Weed in the Workplace792 Words   |  3 PagesPrejudice in the Workplace Prejudice is a paralyzing, disabling social ill. Prejudice is the one human characteristic that retards the development of society, it is a crippling behavior that impedes human advancement and is harmful to society as a whole. Prejudice is more often than not a negative sentiment and in the workplace is particularly harmful; it can lead to extreme mental and emotionally anguish. (Ferguson, Prejudice, Stereotyping, and Discrimination). It is harmful to productivity,Read MoreAnalysis Of `` American History `` By Judith Ortiz Cofer1475 Words   |  6 Pagesof former President John F. Kennedy, as they agreed with his stance against racial discriminations and prejudice. However, Cofer lacks the understanding of discrimination towards her culture, race, and gender. Rather than collectively facing the tragedy of JFK’s death, she is more taken by her own tragedy; being shunned by the mother of her neighborhood crush, Eugene. Recognizing that Cofer is ignorant to racial prejudice, he r mother warns her of visiting Eugene’s house because evidence from the textRead MoreEssay on Black Like Me Book Review745 Words   |  3 Pagespersonally interesting and an identification of what they illuminated concerning the way prejudice and discrimination were both overt and covert during the Jim Crow era. The theme of Black Like Me draws significantly from autobiographical memoirs of the real experiences of the author. 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Well development of the media is one of the significant factors which influences the issue, especially in the medium of news reporting, for example, the newspaper, network and television news, etc. News contributes to transmitting incident information, but the appearance of news misrepresentation and the language in the news will affect the objectivity and the authenticity of the news, which the cause of intensification of the racial stereotypes andRead MorePrejudice And Stereotyping : A Social Psychological Perspective1160 Words   |  5 Pages Prejudice Stereotyping: A social psychological perspective The ability and desire to relate to someone or compete with others, is a fundamental norm and a common aspect in everyday life. The notion to discern ‘us’ from ‘them’ is a way we make inferences of the people we meet and engage with. These everyday inferences affect the way we think, use, and interpret information which guide us to behaviors and beliefs. We use prejudice, stereotypes and discrimination all too often andRead MoreThe Effects Of Prejudice On Children And Young People1502 Words   |  7 PagesPrejudice is an opinion or attitude about a group of people that is based upon lack of understanding or incorrect information. It is making assumptions about children and young people because they belong to a particular group. Prejudiced attitudes can all too often be found among children, even at a very young age. Research has shown that children are capable of holding prejudices and negative attitudes towards others from the age of three. The re are so many pressures on children to fit in and to

Barbie Doll Essay Research Paper Margie Pearcy free essay sample

Barbie Doll Essay, Research Paper Margie Pearcy # 8217 ; s Barbie Doll Margie Pearcy # 8217 ; s Barbie Doll inside informations the image that society undertakings upon and expects from its immature female population. From an early age these immature adult females struggle to conform to the criterions that society has defined for them. The consequences frequently are black, taking to emotional struggles that are frequently hard if non impossible to decide. Beautiful, flawless dolls such as Barbie are often the first beginning of association that small misss have with the values placed on them by society. Parents give small yearlings dolls, illumination ranges, and cherry-candy coloured lip rouges ( 2-4 ) for toies. This would look guiltless plenty, but already the guidelines are being set for what society at big expects misss to be. At this immature age, small misss can non truly differ from what is expected since they are under the complete influence of their parents. Engulfed with these types of nowadayss, the kid is already larning her function in society. In pubescence, during these most disruptive old ages, the miss kid is covering a barbarous blow by a equal who tells her she has a large olfactory organ and fat legs ( 5-6 ) . Here we see the beginning of the struggle that will blight the immature miss. The second of stanza of Barbie Doll demonstrates the interior struggle these immature misss are sing as they become acutely cognizant of how different they may be from what society perceives as the ideal female. Although a miss can be healthy and intelligent, it is non expected for her to possess the physical qualities of strong weaponries and back, abundant sexual thrust and manual sleight ( 8-9 ) . These epitomize male traits, and immature misss begin to comprehend these as negative and unnatural for themselves. Feeling less than Page 2 worthy or valuable, the miss feels she owes society an apology for possessing these features ( 10 ) . Percy drive the point place by composing, everyone saw a fat olfactory organ on large legs ( 11 ) . This line emphasizes the ugliness the miss feels by non mensurating up to be the perfect or ideal female, a criterion set by society. At this point, the miss begins the battle to accomplish the ideal female character, that Barbie Doll image with the perfect face, hair, and unrealistic figure. Not merely does society set criterions for physical properties, it besides dictates stereotyped behaviour of the female toward members of the opposite sex. The miss is told to play coy, exhorted to come on hearty, exercising, diet, smile, and wheedle ( 12-14 ) to pull work forces. She is to use manners that are actuall Ys fake, non a true representation of what she is on the interior. In add-on to experiencing she must look beautiful and thin, the miss is pressured to move in a pretentious mode to be accepted by society as an ideal member of her sex. She must play up to work forces and state and make things that will bolster the male self-importance and solidify her function as the ultimate female. This type of programming instills a sense of losing one’s inner ego. Her good nature wore out like a fan belt ( 15-16 ) symbolizes this loss of ego and a alteration in the girl’s attitude. As a consequence of compromising or losing her true ego to the demands of society, the immature girl/woman is confronted with the realisation that life this bogus being has left her alone, empty, and in hurting. Dejected and depressed, she symbolically cut off her nose and her legs and offered them up ( 17-18 ) . The girl’s emotional agony is so intense that she chooses decease as the sol ution to stop her hurting and to counterbalance for losing her true individuality, the Page 3 one society failed to acknowledge and raising. In the 4th and concluding stanza of Barbie Doll Pearcy utilizes dry imagination to convey to the readers the senseless mode in which society positions immature adult females. The miss is seen in her coffin with the mortician # 8217 ; s cosmetics painted on, a turned-up putty olfactory organ ( 20-21 ) . These images continue the travesty and hide the effects that society has inflicted on its victim. Her caretakers have her dressed in a pink and white nightgown ( 22 ) in order to keep the ultimate feminine image. Tragically and ironically, the miss is recognized as reasonably merely in decease as noted in line 23. Even here, nevertheless, society fails to see the existent individual. They see the image that a ill-conceived society has created. The writer writes, Consummation at last ( 24 ) to convey to us that in decease the miss has achieved society # 8217 ; s end for her, to model her into a existent life Barbie Doll. To every adult female a happy stoping ( 25 ) continues society # 8217 ; s misrepresentation that a adult female is happy and fulfilled if she possesses physical beauty and Acts of the Apostless in a certain mode. Barbie Doll offers a sad but realistic position of the drastic effects that can happen from life in a society that Judgess immature adult females by unrealistic, false, and superficial values. Too frequently society fails immature adult females by declining to acknowledge, appreciate, and value true beauty, that which lies in immature misss # 8217 ; Black Marias, liquors, and characters. These are the lone true things that make a immature lady beautiful, and the lone qualities that can supply permanent felicity. 31d

Event Management in Australia-Free-Samples-Myassignmenthelp.com

Question: Discuss about the Event Management in Australia. Answer: Introduction Art, music and other cultural events are of very importance in the modern day society as it touches the emotional world and illuminate the inner self of human with the improvement of economy, wellbeing, society and education. Australia has a rich history of art and cultural events (McRobbie 2013). However, the way of organization of these cultural events have been changed tremendously. A range of newer events such as international film festivals, writers festivals, music festivals, new age festivals have occupied the slots of cultural events and people are attending the events irrespective of their socio-economic status or age (Mair and Whitford 2013). The Prime purpose of this assignment is to relate these new age events as a part of Australian traditional events. Further, the way these events affects the Australian economics, political, philosophical, social and historical aspects will be discussed. Finally, the way these events stands out in relation to operation, management, sust ainability, technology and management practices will be discussed properly. Timeline of events in Australia Art, music and cultural events are deeply embedded in the Australian history and it can be understood from the research study by the Australian government. This research states that, 83% of Australian population believes that art and cultural events are important for the development of society and they want to be a part of it (Art Nation 2015). Currently Australia hosts several music and film events that is famous worldwide such as Melbourne and Adelaide international film festivals, Splendour in the grass, lost paradise, harbor life, stereosonic, subsonic and many more. These events are not very new in the Australian culture and according to The Sydney Morning Herald (2010), the first music concert organized in Australia was Maleny folk festival in 1987 and since then there is a huge number of events that has been organized and financially became successful. Other than these, there is a number of different festivals such as Melbourne food and wine festival, Tropfest (the largest sho rt film festival), Sydney mardi gras (the LGBT community festival) and Vivid festival (the largest light, music and ideological festival in the world) has been organized and became big success in the event industry (Newstead 2013). Different aspects of these events Social These music and art related events have broader impact on the Australian society.The most important effect of these events on the Australian society is the multiculturalism. According to the Australian government council, the government is keen to develop multiculturalism in Australian society as it helps to sprout talent and ability within individuals and arts and music concerts are helping them to achieve this target. The success of these vents to promote social harmony and peace is such that from 2013 to 2015, 76% of population of major cities and 67% population of remote and very remote areas have attended such events every year (Art Nation 2015). Political The Australian govern is always been supportive for the art and music concerts in Australia. There are a number of music organizations such as the national opera, Opera Australia, the concert orchestras that are supported by the national government and from funding to land, allotment and transporting artists.The government bear all the cost of these events. Furthermore, the local government takes responsibility to help these events with physical facilities and employs event officers to encourage local art and craft activities (Tonkin 2012). However, there are different governmental policies that should comply with the event organization process such as environmental pollution level, public disturbance policies, noise pollution levels and staging policies.On the other hand, these concerts helps to display the political drawbacks and loopholes to the society through their music. For example, Warumpi band (1985), that used to highlight the indigenous issues of Australian government thro ugh their concerts (Tonkin 2012). Philosophical The philosophical aspect of music and art events in Australia is evident from the fact that despite of failure of big Australian events related to music, the attendance of people in such music concerts has increased from the last decade. These events has acquired a place in viewers heart. Hundreds of smaller events have been organized that offer better experience with appreciation to culturally rich artists. Therefore, philosophical impact of these events has made the Australian society competent to cultural richness (Newstead 2013). Economic Nearly entire Australian population has been visited art galleries, attended live concerts or attended film or food festivals in 2013 (94%), which describes the economical aspect of these public events in Australia (Australian Leisure Management 2016). Despite the fact that the urban Australia has improved infrastructure for art and music concerts, the attendance of rural population in such concerts proves the involvement of such events in Australian lifestyle. People have spent more than $200,000 and 11% f their household income in such concerts in year 2012 (Australian Leisure Management 2016). The importance can also be understood from the data given by the Australian Council for the Arts (2015) that determined that 40%of international visitor were involved in art related concerts in Australia and over 2.4 million artists have visited Australia in 2013-14. Furthermore, the statistical data shows that Australian cultural sector contributes $50 billion in the Australian GDP and with in that, $4.2 billion comes from these arts related events (Australian Council for The Arts 2017). Factors that make this successful events stand out Operations This section is the most important factor for event management as it is responsible for co-ordination, integration and implementationsof all the planned practices in the vent to make it engaging and successful. This involves adaptation to innovations, flexibility towards methodologies and providing the best service to the viewers and artists within the pre-decided funds. However, the most important factor is viewer engagement (Newstead 2013). The flow of the event should be engaging, otherwise bigger events with proper operational management becomes unsuccessful. One such example is the failure of Bonnaroo and Rebounded, which attracted 38 percent fewer and lowest crowd respectively than their previous attendees (ABC News 2015). Risk factors The primary risk factors for success of any art or music related concert is lack of a proper risk management system. These concerts determines gathering of millions of public gather gathering at one place and therefore different risk factors such as alcohol, minors, transportation, physical activities, size of the event, sales and fire, explosives and combustibles should be taken care of (Steffen et al. 2012). The organizers of music concert Stereosonic utilized security tools such as CCTV cameras in every angle of the concert ground, further they recruited 1000 people for the security and volunteering services and collaborated with the local police and armed forces to combat any adverse situation. Therefore, better risk management system and operations skills makes these events stand out from those, that spend all the money in organizations and neglects security factors (Aloini, Dulmin and Mininno 2012). Sustainability The relation of sustainability in the success or failure of event can be of three types and according toYeoman et al. (2012), there are three primary pillars of sustainability. These are economic success, social effects and environmental aspects. The way of pertaining to these, factors are different in every event. The economic sustainability factors inhabits local economic progress, growth, innovation, fair trade, profitable business performance, increased market capacity, better return on investments and equal sharing of profit. It is very important for the event to address the economic sustainability by providing the organizer of the event with proper amount of profit.However, if other two pillars of sustainability are not strong, the event becomes a big failure, such as the failure of Bonnaroo and Sasquatch festival in Australia in 2017 (Hall 2012). Furthermore, the social sustainabilityincorporates social justice, equity, heritage, health and safety norms, and labour standards so that the workers and organizing employees rights can be protected (Naiman 2012). Therefore, compliance of these norms determines the success of such event. Finally, the environmental sustainable factor involves proper resource utilization, air, water and sound pollution, energy efficiency, emission reduction and protection of biodiversity. While organization of such events, these factors need to be protected as without these, the government cannot grant the permission. Hence, for the successful completion of the events, compliance to environmental sustainability factors is must (Hall 2012). Technology Technological use in event management has a broader and aspect. This aspect can be utilized in safety and health related purposes in events, fund distribution and planning of the event and distribution of the tickets. Using social, print and digital media in the advertisement and marketing of the events ensures participation that is more public and it ensures more revenue generation than events that sells tickets on the counters. Further, utilizing technologies in safety and security determines proper security of attendees and impose public interest on the event (Hollnagel 2014). Conclusion Music concerts, film festivals and art galleries are the modern way to celebrate the richness of art and craft of the different culture. Australia has its own history of rich cultural events and with time, the form of these eventshas been changed. Nowadays, this country celebrate its social competency and multiculturalism with music concerts, food and art festivals, writers concerts and film festivals. These events have different effects of the social, political, economic and philosophical factors, which have been discussed in this report. Further, different management factors such as operational activities, sustainability, technology, risk management skill has been discussed, and their role in the success and failure of the events is mentioned thoroughly. Finally, it could be said that cultural competency is important for diversification of human society and these events helps to fulfill this goal. References ABC News 2015.Goodbye Soundwave, hello boutique music festivals. [online] ABC News. Available at: https://www.abc.net.au/news/2015-12-16/jones-goodbye-soundwave,-hello-boutique-music-festivals/7033172 Aloini, D., Dulmin, R. and Mininno, V., 2012. Risk assessment in ERP projects.Information Systems,37(3), pp.183-199. Art Nation 2015.An Overview of Australian Arts. [online] Australiacouncil.gov.au. Available at: https://www.australiacouncil.gov.au/workspace/uploads/files/arts-nation-final-27-feb-54f5f492882da.pdf Australian Council For the Arts 2015.The arts matter to Australia, and the data shows it | Australia Council. [online] Australiacouncil.gov.au. Available at: https://www.australiacouncil.gov.au/news/media-centre/media-releases/the-arts-matter-to-australia-and-the-data-shows-it/ Australian Council for The Arts 2017.Arts Nation An Overview of Australian Arts. [online] Australiacouncil.gov.au. Available at: https://www.australiacouncil.gov.au/workspace/uploads/files/the-cultural-economy-fact-shee-54f5fce276550.pdf Australian Leisure Management 2016.Eventbrite research shows Australians love festivals - Australasian Leisure Management. [online] Ausleisure.com.au. Available at: https://www.ausleisure.com.au/news/eventbrite-research-shows-australians-love-festivals/ Hall, C.M., 2012. Sustainable mega-events: Beyond the myth of balanced approaches to mega-event sustainability.Event Management,16(2), pp.119-131. Hollnagel, E., 2014.Safety-I and safetyII: the past and future of safety management, 1st Edn, pp. 107-125, Ashgate Publishing, Ltd.. Mair, J. and Whitford, M., 2013. An exploration of events research: event topics, themes and emerging trends.International Journal of Event and Festival Management,4(1), pp.6-30. McRobbie, A., 2013.In the culture society: Art, fashion and popular music, 1st Edn, pp. 3-22, Routledge. Music in Australia 2018.Australian Music Festivals - Music in Australia - Knowledge Base. [online] Musicinaustralia.org.au. Available at: https://musicinaustralia.org.au/index.php?title=Australian_Music_Festivals Naiman, R.J. ed., 2012.Watershed management: balancing sustainability and environmental change, 1st Edn, pp. 234-267, Springer Science Business Media. Newstead, A. 2013.Show's Over: A Recent History Of Aussie Music Festival Troubles - Tone Deaf. [online] Tone Deaf. Available at: https://tonedeaf.com.au/shows-over-a-recent-history-of-aussie-music-festival-troubles/ Steffen, R., Bouchama, A., Johansson, A., Dvorak, J., Isla, N., Smallwood, C. and Memish, Z.A., 2012. Non-communicable health risks during mass gatherings.The Lancet infectious diseases,12(2), pp.142-149. The Sydney Morning Herald. 2010.Timeline: Australian music festivals. [online] Available at: https://www.smh.com.au/entertainment/music/timeline-australian-music-festivals-20101118-17yht Tonkin, C. 2012.Australian Music Politics: Wheres The Power The Passion?. [online] tonedeaf.com.au. Available at: https://tonedeaf.com.au/australian-music-politics-power-passion/ Yeoman, I., Robertson, M., Ali-Knight, J., Drummond, S. and McMahon-Beattie, U. eds., 2012.Festival and events management, 1st Edn, 124-167, Routledge.

Northern Rock Risk Management Essay Example

Northern Rock: Risk Management Essay Northern Rock plc Risk Management Home Assignment Northern Rock plc Risk Management Home Assignment Authors: Serghei Leahu Alexandru Mangir Mihail Mavrin Seminar leader: Herbert Windsor Authors: Serghei Leahu Alexandru Mangir Mihail Mavrin Seminar leader: Herbert Windsor Table of Contents Executive summary2 Economic and financial environment description3 Causes and circumstances of incurred losses5 Errors by the organisation8 Errors by internal and external supervising authorities10 The internal authorities10 The external authorities10 Effects on other commercial organisations12 Conclusions14 References15 Executive summary According to the House of Common’s Treasury Committee’s Fifth Report of Session 2007-08 â€Å"The run on the Rock†, on the evening of Thursday 13 September 2007 at 8. 30 PM the BBC announced that Northern Rock plc had asked for and received emergency financial support from the Bank of England. The terms of the funding facility were finalised in the early hours of Friday 14 September and announced at 7. 00 AM that day. That day, long queues began to form outside some of Northern Rock’s branches; later, its website collapsed and its phone lines were reported to be jammed. The first bank run in the United Kingdom since Victorian times was underway. The purpose of this home assignment is to critically discuss the Northern Rock plc bank run from a faulty risk management perspective. We seek to examine what were the causes of the collapse of Britain’s fifth largest mortgage lender, associated consequences for both the bank and other financial institutions (both domestic and international), the way authorities coped with this event and possible lessons to be drawn about proper and improper risk management. Economic and financial environment description We will write a custom essay sample on Northern Rock: Risk Management specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Northern Rock: Risk Management specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Northern Rock: Risk Management specifically for you FOR ONLY $16.38 $13.9/page Hire Writer For a better understanding of the details of risk management problems that engulfed Northern Rock plc, it is of vital importance to first and foremost take a look at the financial environment during the period of the loss. Real GDP growth projections as of 4 April 2007 Country/Region| 2006| 2007| 2008| United States| 3,25| 2,25| 2,5| Western Europe| 2,75| 2,5| 2,25| United Kingdom| 2,75| 2,75| 2,5| Other West Europe| 3,75| 3| 2,75| Euro area| 2,75| 2,5| 2| Emerging markets| 7,25| 6,5| 6,25| World(WEO weights)| 5,25| 4,25| 4,25| In August of 2007, the UK found itself affected by global financial chaos. Citing bank Credit Europe (2007), the liquidity crisis originated from the US subprime mortgage market. In mainland Europe, the crisis is believed to have been triggered when French based bank BNP Paribas suspended three of its investment funds that were exposed to the US markets that traded toxic assets, as reported by BBC News on 9 August 2007. As a result, share prices plummeted and banks would not continue lending to each other. So, all major central banks around the world started injecting liquidity into their domestic markets in similar attempts. The European Central Bank sought to calm the tide by reportedly pumping $130 billion in the European banking system. It sought to satisfy Eurozone liquidity demands as fast as possible, unlike the Bank of England who left UK banks claims for liquidity unsettled. The Bank of England did not follow suit and took no contingency measures in order to protect against moral hazard. Their rationalisation was that an injection would induce banks to take on more liquidity risk, resting sound knowing that the Bank of England would find a way to save them. Injecting money into economy to prevent crisis have two major risks, first one is slowing growth too much in case of trying to avoid issuing new money, and second one is that inflation pressures will rise in case of issuing too much , at the end even with a greater slowdown. Due to these risks, the bank of England did not inject money into the UK financial system. Also, behind the economic environment a large effect on any business has the political environment. Its effects are even greater during a period of critical time in financial systems where trust and confidence is very significant. In the UK for example, the financial system is regulated by the Tripartite system: the Bank of England, the Financial Services Authority and the Treasury. According to Aldrick (2007), although their roles are clear, there was no overarching authority when the crisis struck, which meant that everyone was pointing fingers around, but nobody was able to take the large chunk of responsibility for reactionary measures. In retrospect, how come Northern Rock, out of all of the UK’s financial institutions, proved to be the weakest link? Why had the credit crunch affected it in such drastic fashion? Was it a victim of its own doing or were other external forces involved in the bank run? We aim to answer these questions under following headings. Causes and circumstances of incurred losses According to ex-Unilever, British Gas and KPMG manager Mike Barnato, risk is the antagonist of opportunity. No ships would ever leave port if captains wanted to avoid risks associated with sea travel. Therefore, risk must be managed in order to achieve objectives at all levels: private, corporate, state. However, the old-fashioned approach to risk management such as detect risk, measure probability, gauge effect, and identify reactions, habitually disregards broader people and strategic matters. As stated by the Financial Services Authority, liquidity risk is defined as â€Å"the risk that a firm, although balance-sheet solvent, cannot maintain or generate sufficient cash resources to meet its payment obligations in full as they fall due, or can only do so at materially disadvantageous terms. † Originally established as a building society, Northern Rock demutualised in October of 1997 and became a plc. The banks consolidated balance sheet grew no less than sixfold, as a result of a complete overhaul in its corporate strategy. According to the Treasury Committee Report (2008), CEO Mr Adam Applegarth claimed that Northern Rocks assets increase by 20% plus or minus 5% for the last 17 years. Sustainability for the high growth of assets was to come from a restructuring of its liabilities. The year 1999 marked the beginning of the so-called originate and distribute model, which involved originating or purchasing loans and transferring them to SPVs (Special Purpose Vehicle), which in turn package these loans into collateralised debt obligations (CDOs) to sell to third party investors. Approximately 50% of Northern Rocks funding (coming from securitised notes) was provided by SPV Granite, registered in Jersey. The constantly growing funding need was due to be met by means of securitising bonds using a LLP (Limited Liability Partnership), which allowed the bank to continue holding its assets and issue asset-backed securities on their basis. This was a lucrative and quite secure deal for investors. As wholesale funding dramatically increased, the proportion of retail deposits as means of funding gradually decreased, by 2006 totalling 22. 4% of total equity and liabilities as opposed to no less than 62% in 1997. It is a widely acclaimed fact that the Northern Rock crisis was caused by an verly aggressive business model, which relied mainly on wholesale market funding, rather than its own deposits. Rapid growth was understandable, because funding from deposits would nowhere near be as potentially high as wholesale funding. Nevertheless, this reliance exposed the bank to an imminent liquidity risk. UK money markets were bound to be hit by a liquidity crisis, following tension in the US as the F eds interest rate was all over the place. The first half of 2007 saw mortgage lending go up by 31% compared to the same period of 2006. Northern Rocks loan book quality was a clear sight for sore eyes, as lending quality drastically decreased. The bank was giving away mortgages left and right to customers whose credit worthiness was shady to say the least. It is no surprise that many similarities can be drawn between Northern Rocks business model and the business model of US mortgage lenders. However, surprising is the fact that Northern Rocks management apparently did not attempt to manage the obvious liquidity and operational risks having examples of mortgage lenders over the Atlantic that were clearly pushing the envelope. According to the Treasury Committee Report (2008), on 9 August 2007 it became crystal clear that Northern Rock would face severe problems if the money markets continued to be frozen as they were. It was on that day that the banks traders noted a dislocation in the market for its funding. This was the effect of a global financial system shock triggered by the US subprime mortgage market. While this shock was originally credit based and it did not directly expose Northern Rock to the dreaded liquidity risk, its effects questioned the value of asset-backed securities and related products held by large financial institutions around the world. Overall market liquidity was very shaky due to the fact that holders of asset-backed securities did not have information regarding loan quality and default rates, to which originators of these securities did have access, so the funding of these financial instruments became problematic. As Northern Rock was running low on cash since its last securitisation in May and another one was due in September at the earliest, the liquidity freeze hit the bank with disastrously poor timing. Even so, better timing would not have saved it from trouble, due to the prolonged duration of this drying up of money markets. Northern Rocks business model was unique in the sense that the central part of its business strategy was securitisation. The bank relied heavily on short-term funds, while as most banks opt for marginal securitisation of assets. In addition, a property of this aggressive model is that it exposes a bank to the so-called LPHI risk (low probability-high impact). In essence, the low probability is derived from the fact that the drying up of money and capital markets on a large scale is improbable. The high impact relates to the almost exclusive reliance on high liquidity for the bank to be able to fund its operations. According to David Llewellyn, citing his work The Northern Rock Crisis: A Multi-dimensional Problem, in the context of Northern Rock, the LPHI risk is composed of three micro risks: a) the risk of the bank being unable to re-receive funds that reached maturity, (b) the risk of being unable to securitise the planned mortgages, (c) the cost of funding would rise relative to the mortgage loans it kept on its balance sheet. A pivotal role in the subsequent events linked to Northern Rocks failure was the run on deposits which equalled about ? billion, dubbed The run on the Rock by the media, which took place from Friday 14 September to Monday 17 September. Once the run had begun, two factors kept its momentum: a) depositors were becoming more and more aware of the fact that Northern Rock would cease to be a going concern, were the run to continue; (b) deposits above ? 2,000 were not guaranteed in full to customers, which dramatically increased the awareness of a large amount of depositors that previously were not in touch with the shocking scale of their potential losses. As a result, the Bank of England had to implement an immediate emergency facility programme for the bank, which was previously considered as a backstop, rather than a reactionary safety net. Naturally, customers acted completely rationally and logically seeking to save their deposits by joining in on the run having heard about the distress of their bank on the news. This psychological factor shifted the issue from being one of the Northern Rock customers to a rather large scale crisis that affected any persons belief in the banking system. As a result, the following months saw the Government discussing takeover offers from various companies, notably Virgin Group, Olivant, JC Flowers, Lloyds TSB. However, according to an announcement by Northern Rock, all the bids were rejected, because they were materially below the previous trading value. As such, according to Elliot, Seager and Inman (2007), the Government arranged an emergency legislation to nationalise the bank, in the event that takeover bids fail. On 17 February 2008, following unsuccessful bids to take over Northern Rock, Mr Alistair Darling, the Chancellor of the Exchequer, announced that the bank was to be nationalised, as mentioned by BBC (2008). Errors by the organisation â€Å"Northern Rocks risk management framework is designed to maintain and continually improve the established processes and tools for the identification, assessment, control and monitoring of existing and future risks. Northern Rocks approach provides a mechanism for the active identification, assessment and communication of risks throughout the business†. Northern Rock Community Report (2006) We will soon come to prove that the above statement is completely false. First and foremost, it must be noted that the Board and management team of Northern Rock rightfully took a large chunk of blame for their irresponsible and incompetent actions. In the chase for rapid growth and profits through securitisation, they clearly missed out on a basic principle of risk management which is the diversification (spreading) of risk. While Northern Rocks management and Board clearly placed all of their eggs in one basket, it was obvious that should an improbable (although completely unavoidable) liquidity shock hit the UK markets, theyd be in head spinning trouble. The bank had a proper approach to risk management. It covered liquidity, credit, operational and market risk, which were described in detail in its filing for the US Securities and Exchange Commission. Northern Rocks assets were looking strong, therefore credit risk was insignificant. In terms of market risk, FOREX and interest rate fluctuation exposures were managed properly Nonetheless, its management clearly did not take into consideration the fact that if the access to short-term funding was impeded, it would end up facing a huge liquidity crisis. Therefore, as the US sub-prime mortgage crisis (mortgage backed securities were the meat of Northern Rocks funding) unravelled, the bank became exposed to liquidity risk. In addition, the management apparently did not have a plan B to funds its activities in case the money markets dried up – an operational risk. The Tripartite authorities might be frowned up as being short-sighted in respect to the Northern Rock case. However, the banks CEO, Mr Applegarth, and his Board are the ones responsible of failure to identify the risks associated with their aggressive and reckless business model, or for being foolish enough to indeed identify the risks, but deciding to ignore them, in hopes that bad luck would strike elsewhere. The need to balance risk appetite and return is a basic business principle, however risk must be managed consciously, continuously and actively. Steve Boyle, in his article Avoiding the next Northern Rock goes so say that it is important to note that although the contemporary business model (coupled with legal frameworks and regulators) encourages companies to ignore inconvenient truths, ultimately the companies themselves are to blame for their failure to handle their risk appetite. It is surprising to find out that CEO Mr Applegarth did not respond to the Bank of Englands interest rate increase in any reasonable way. Liquidity conditions were tightening up on a global scale for a fair amount of time and although these were not drastic enough to raise a panic, the bare minimum questions How are we prepared for this? Are we at all prepared? should have been raised. Despite obvious indicators of an unstable interest rate environment, Northern Rock continued giving out mortgages for 125% of house valuation, paying little to no respect to risk management. Did Mr Adam Applegarth even want to see the impending funding shrinkage? Probably, by sitting down and giving it an objective though he would spot the effect of rising interest rates on the UK financial markets. As stated in the Treasury Committee Report (2008), Northern Rock’s continued expansionary lending policy required the continued success of its funding strategy at a time when there were indications of potential problems on the funding side. Although the Bank of England was keen to identify the potential risk of wholesale funding for banks should the money markets lose its liquidity, the managers at Northern Rock did not heed this warning. The reliance on short and medium term funding was not met with any kind of standby facility, leaving liquidity risk completely uninsured. This high risk, reckless strategy was formulated by the Board and overseen by long serving directors. Yet, it was not met with any kind of restraining from the Chairman of the Board, Chairman of the Risk Committee, internal audit staff, which is at the very least surprising. In reality, the Board and management kept ploughing at their reckless business model, believing that standby facilities are a waste of money. Errors by internal and external supervising authorities The internal authorities One cannot detach internal control from corporate governance, because it is the Boards responsibility to monitor significant risks and to ensure that internal controls are effectively involved in their proper evaluation and handling, but most importantly the Board must always induce internal controls to be cautious while dealing with risk because of their ever elusive nature. It is quite a possibility that Northern Rocks internal controls were not up to par and were giving out the rest of the company completely the wrong message. As stated in an article on cimaglobal. com, Northern Rocks filings to the SEC give the impression that its main concern was regulatory conformance, rather than its overall control environment. According to the Treasury Committee Report (2008), part of the oversight of the liquidity strategy of Northern Rock was conducted by its Risk Committee, chaired at the time by Sir Derek Wanless, a non-executive member of the Board of Northern Rock. Sir Derek Wanless is reported to have said that the Risk Committee looked at the issues of [their] funding strategy and what the risks were†. He went on to defend the role of the Board and the Risk Committee, telling the Treasury Committee that â€Å"The Risk Committee and the Board did [their] job, in my view, properly through this period. The external authorities The external regulation of Northern Rock plc was conducted by the Financial Services Authority spanning from 2005 to 2007. Its handling of the events of August-September 2007 received wide criticism. In the following paragraphs we aim to describe the poor regulation of Northern Rock that went hand in hand with mismanagement that ultimately led to its collapse. Citing the Treasury Committee Report (2008) on Northern Rocks failure entitled The run on the Rock, London School of Economics Professor Willem H. Buiter was found stating that â€Å"The FSA did not properly supervise Northern Rock. It failed to recognise the risk attached to Northern Rock’s funding model. Stress testing was inadequate. † According to an IMF working paper, a stress test is termed as the revaluation of a portfolio using different sets of assumptions, the goal of which is to assess the sensitivity of the portfolio to changes in various risk factors. It is curious to find out that while the FSA had been highly unsatisfied with Northern Rocks stress testing procedures; it did not notify the banks management team to immediately adjust these procedures. In addition, while the Board did continue to conduct stress testing, their methods were inadequate and the Financial Services Authority failed in its duty to guide the Board towards ensuring that the bank was ready to handle a market shock. A prime indicator of running a big risk financial plan is rapid expansion. The FSA had acknowledged obvious red flags concerning the banks rapid market share expansion, as well as decreases in share price from February 2007 which translated into Northern Rocks extremely risky business model. Yet, the regulator merely underwent into a greater regulatory engagement, which pretty much failed to target the root weakness – the funding model. As mentioned by the Chancellor of the Exchequer quoted in the Treasury Committee Report (2008), the FSA did not deem liquidity regulation as important as solvency regulation. It brings up the question whether the FSA is actually competent of handling liquidity related shocks at all. We believe that this was a substantial failure in regulation, which eventually no less than fuelled the forthcoming chain of events. An increase of 30. 3% of Northern Rocks interim dividend was made public on 25 July 2007. This was the result of, as CEO Mr Adam Applegarth put it when you get your Basel II approval, the relative risk weighting of certain assets in your balance sheet changes [†¦] our risk weighting for residential mortgages came down from 50% to 15%, which clearly requires less capital behind it, which explains the increased dividend. Unfortunately, we are of the same opinion as the Treasury Committee Report (2008), which notes that this approval came at the most untimely moments. In doing so, the FSA allowed Northern Rock to singlehandedly weaken their own balance sheet at a time when the FSA was itself battling liquidity problems in the financial sector. The support operation announcement by the Tripartite authorities was apparently to be treated with great delicacy, because they were aware that it might have the complete opposite effect than calming the depositors. We, the authors, believe that the authorities acted extremely rashly in the whole process of stating the Government guarantee of supporting Northern Rock through its crisis. They failed to plan the announcement prior to 16 September 2007. It is also worrisome that the announcement was not made before the markets opened the following day. This led to a delay in the guarantee until the evening of the fourth day after the run started, which made the bank run even more prolonged and severely damaged the already whimpering health of the bank. Yet another area of concern is that the Financial Services Authority completely overlooked the fact that Northern Rocks CEO was not a qualified banker, albeit he possessed significant work experience. Mr Adam Applegarth did not have any training qualification and as such, this absence ought to raise major question marks. To sum up, Northern Rocks failure was not entirely the fault of its management; it was also the fault of its regulator, the Financial Services Authority. Evidently, sufficient resources were not assigned to the watching of a banks business model that was so obviously screaming Look at me! Moreover, the FSA did not seem to give the air of confidence of a supervising authority that knew how to handle a particular financial institution rather than targeting an aggregate group. Effects on other commercial organisations It was on the 9th of August when the world changed. Adam Applegarth, Northern Rock plc CEO The effect of Northern Rock crisis spread shockwaves all around the financial markets and most importantly to the UK, adding an unexpected swing to an already unstable financial situation that could go from bad to worse in an instant. As said before, on 9 August 2007 money markets froze and the short-term funding that Northern Rock so heavily relied upon (it made up roughly 60% of the right side of its balance sheet) squeezed considerably. The Northern Rock crisis was a signal which raised awareness of other banks with a similarly risky business model on upcoming problems and showed the need to concentrate on actively managing liquidity and operational risk. In the midst of the crisis, it was evident that banks became reluctant to ask the Bank of England for liquidity facilities, because it might have been treated as Northern Rock clones. Furthermore, such facilities were obviously not going to be offered in a confidential manner. Even if the Bank of England did keep things hushed, word would spread anyway and a simple case of extra liquidity claim would cause devastating panic. The Newcastle-upon-Tyne based bank was the first of its kind, the first in a notable list of banks that were nationalised during the crisis that took the United Kingdom by storm. Next on the list came Bradford and Bingley, Heritable Bank and Kaupthing Edge which were all also nationalised. The nationalisation of Northern Rock increased national debt by an additional ? 00 billion, which was due to be settled by no later than June-July of 2010. In addition, The Bank of England pledged to pay off Northern Rocks debts consisting of the following: * loans (approximately ? 25 billion ) * guarantees (approximately ? 30  billion) * value of company (approximately ? 1 billion) Another consequence of this failure was that Northern Rock was responsible for about one fifth of all mortgage business. With its collapse and also in close cooperation with the overall mortgage crisis, it struck individuals at the heart of their fears – uncertainty. At least 2,000 employees were dismissed as a result of the collapse, even if Alan Clarke, Chief Executive of the Development Agency stated that there was a demand in qualified Northern Rock bank workers and that there was a big chance of a slight increase in unemployment level. Also, hedge funds and investment banks were also affected, workers seeing their spending power reduced by lower bonuses, or even curtailed by job losses. Finally, the cuts are a blow for job prospects in north-east England where Northern Rock was one of the biggest employers. Lloyds TSB was keen on helping Northern Rock reduce the size of its balance sheet, in a deal that would allow some Northern Rock customers to receive new mortgages at the end of their fixed-rates. A Forbes article (2008) mentions that customers would be exempt from the standard lenders application fee and Lloyds would pay a commission fee to Northern Rock for every successful mortgage deal (the maximum loan-to-value ratio being 80%). As such, Lloyds took advantage of the Newcastle based banks troubles in a lucrative deal for more or less both parties. The case of Northern Rock revealed a problem with the FSAs handling of liquidity based crises. A new assembly of supervisors to review supervision of high impact firms such as Northern Rock was employed. In addition, staffing and training increased to not allow such incidents to affect public opinion so drastically, because a portion of it was clearly unsatisfied with the FSAs role in the debacle. As suggested by internal auditors, high-impact firms would be reviewed annually and their performance checked every six months. Furthermore, the Financial Services Authority would concentrate a larger part of its time and effort to be prepared to react to future liquidity shocks. On 24 May 2008 Legal amp; General, SRM Global, RAB Capital and the Shareholders Action Group (150,000 of the banks small investors) joined forces in the legal action against the Government after the nationalisation announcement. As written by Sean Farrell for the Independent (2008), shareholders believe that the Bank of England rigged the process for compensating Northern Rocks investors, because a sovereign valuator must accept that the bank was not a going concern. Lamp;G wished to see to that share valuation would be conducted on an impartial basis, without the dogmatic conventions enforced by the Treasury. According to Simon Evans (2008), at the end of July 2008 the valuation of Northern Rock would be delegated to 2 of 10 firms that applied, in spite of threats of legal repercussions. Monaco based hedge fund SRM Global stated that a negligence case of high stature would be opened on anyone that would partake in the role of valuing the poisoned chalice, considering that the hedge fund owned shares in value of 11% at Northern Rock before its nationalisation. Unsurprisingly, few forms expressed their interest in the valuation process, because the Treasury had imposed a number of restrictions for potential valuators. Northern Rock was a just a drop in the ocean of the financial peril that followed. The difficulty for the financial markets and ordinary people was that at that point nobody knew where thunder would strike next and who would be its next victim. Conclusions At present, business at Northern Rock plc is looking quite optimistic. It is known that the restructuring of the bank and the overhaul of the boardroom paved the road for a future re-entry into the commercial banking sector with a new formula for success. Also, a new debt reduction strategy was adopted, with the bank repaying its loans well ahead of maturity, with a little under ? 9 billion remaining to be paid as at 9 March 2009. Based on the above discussion, several key lessons can be learned such as that companies ought to move beyond box ticking by sacrificing performance for conformance. Also, risk management is absolutely essential to undertake in todays constantly changing financial environment where anything can happen at any time. As for the institutions delegated to supervise, we would like to stress a few recommendations: * liquidity assistance arrangements must be timely and inspire confidence * external supervisors such as the FSA must have a solid plan of corrective action * legal framework must exist in order to prevent the collapse of a bank that is enduring troubles with departments or functions of systemic importance

How to Write Family and Consumer Science Essay Detailed Guide

How to Write Family and Consumer Science Essay Detailed Guide Are you studying family and consumer sciences? It is an interdisciplinary program that is related to home economics and helps college students make informed decisions about their well-being, family relationships, and resources to achieve optimal quality of life. Students in this major learn about human development, family relations, personal and family finance, consumer economics, food science and nutrition, housing and interior design, fashion, textiles, and apparel. Family and consumer science essays are used to assess how students understand specific ideas related to this field of studies and their ability to explain complex concepts and theories in their own words. When you have a task of writing a family and consumer science essay at college, it can be hard to know where to start but, actually, getting A for it is easier than you think. There is no need to be frustrated when you can’t cope with your family and consumer science essay because this detailed guide will give you everything you need to write an A+ academic essay. What Is Family and Consumer Science Essay? Family and consumer science essays are typically written in a discursive style. Students need to bring together interesting ideas, relevant evidence, and logical arguments to address a specific issue or a question. Your task is to persuade your readers that your idea is correct based on evidence. It’s important to develop a strong thesis statement and support it with relevant examples, evidence, and information from credible sources or academic texts. All academic essays follow a particular structure: you have to outline your argument in the introduction, develop your argument in the main body (the middle section), and need to end your essay with your overall key message in the conclusion. Although writing an essay is not a linear process it can be divided into a series of several manageable basic steps: Develop a topic. You need to understand your assignment requirements, find and explore the background information, and form the working thesis; Do in-depth research using scholarly sources on the subject. Read closely and take notes; Develop a thesis statement and make an outline of arguments; Write a draft integrating the evidence that you gathered during your research. Format all citations and references according to the citation style specified by your instructor; Review and revise your draft to improve the content and the logic. Edit and proofread your essay for grammatical errors and common punctuation and spelling mistakes. How to Choose a Winning Topic for Family and Consumer Science Essay Writing If you were given a topic for your family and consumer science essay, you need to analyze your assignment question to get a good idea of what you are being asked to do. First, you should pay attention to the instructional words to understand what approach you must take such as explain, assess, evaluate, discuss, analyze, compare, contrast, examine, comment on etc. For example, if you were asked to discuss homeschooling, you have to investigate this phenomenon, look at all the evidence you can find, and provide reasons for and against it. When you understand what you are actually asked to do, your next step is to identify the broad topic to understand the context of your discussion and to determine specific aspects of the topic that you were assigned to write about. It will help you stay focused while doing the research. If you have to choose a topic on your own, the best approach is to select a topic that you are interested in and that is familiar to you. If the topic is too broad, you need to narrow it down that that you could be able to cover it in your essay, presenting a coherent argument. For example, if you would like to write an essay about medical nutrition therapy, you should narrow this topic which is extremely general and explain how nutrition therapy can help in treating specific diseases, for example, cancer or diabetes. Have no idea which topic to choose? Have a look at this short list of interesting family and consumer science essay topics. We have made it for you to help you get started: Analyze Factors that Contribute to Food Sustainability; Discuss Advantages of Sustainable Fashion; What Are the Strategies to Achieve a Healthy Balance of Work and Family? Discuss Ways To Live More Sustainably; Why Is it Important to Promote Breastfeeding? What Is the Impact of Adopting Mobile Finance? Social Security and Aging Population; How to Promote Technology Use among Older Adults; Discuss the Pros and Cons of Homeschooling; Explain the Importance of Making Safe Food Choices; What Is the Role of Macronutrients in Human Nutrition? Presentation Techniques for Interior Design; Protection of Consumer Rights; Medical Nutrition Therapy for Neurologic Disorders; What Strategies Are Used for Resolving Consumer Conflicts? Research Your Essay Topic The next step is to find relevant primary and secondary sources on the subject of your family and consumer science essay, read them closely, and make meaningful notes of the most interesting ideas that you can summarize, paraphrase or cite in your writing project. You have to find appropriate academic books and journal articles. It’s useful to make a mind map or a spider diagram, noting down some initial ideas and thoughts to stay focused while doing research. It will serve you as an outline plan with relevant key points and background points that will guide your research. Use skimming and scanning techniques to identify material in your sources relevant to the key points that you have determined. You should read critically scholarly texts on your subject and add your own thoughts to your notes. You should note down only relevant and important information that you will need for building your argument. If you plan to use some sentences or phrases as citations in your essay, note them down in quotation marks. Don’t forget to write down all the details of every source you are reading (title, author, page number etc.). You will need this information when creating a references page. Make an Outline Planning your family and consumer science essay is an important step in the essay writing process that why we recommend you to create an outline before you start writing. There are several different types of outlines and the most common ones are a decimal outline which uses only numbers and an alphanumeric outline that uses Roman and Arabic numerals and capitalized and lowercase letters. A good outline will help you to: organize and develop your argument; stick to the major points that you are willing to make; have a good idea of how your argument should start and end; make your essay well-structured, clear, and coherent. Every outline always begins with a strong thesis statement that presents the central idea of your academic essay. An effective thesis statement typically has 2 parts. It tells what exactly you are going to argue and outlines how you are going to support your argument. Your thesis should be definable, arguable, clear, and specific as possible. Then you should brainstorm the ideas that you plan to include in your essay. You need to make a list of ideas and organize them into related groups. Make sure you group your ideas logically and put them in an order that makes sense. Organize ideas into groups to form categories and subcategories. Before you start writing, it’s important to identify your main ideas because your essay shouldn’t be a set of quotes and facts or a summary of other people’s ideas. You have to apply your critical thinking skills to analyze what you are reading on your topic and synthesize the information to develop your own opinions, ideas, and arguments. Making an outline can help you in doing that. Write a Draft When writing a draft, you can start with the main body if you have a mental block with your introductory paragraph. You can begin with any topic idea that you feel comfortable with. You should write freely and never worry about grammar or style at this stage of the writing process. If you worry too much about editing and refining your essay at this stage, you will work slowly and restrict your thinking. You can perfect your writing later. Actually, you’ll need to revise your paragraphs several times making improvements in the content and in the logic before you can be satisfied with your final draft so you should let your ideas flow. Here are some tips on how to write different sections of an essay. Introduction In your introduction, you need to tell your readers what they should expect from your writing project. You should keep your introduction brief, focusing on the relevant information that will help you answer the set question. An introduction is typically not long it should make up 5-10% of the whole academic essay. Your word count will determine how many details you need to include in your introductory paragraph. You should start your introduction with an attention grabber – a relevant quote from an expert, interesting statistics, a shocking fact etc. You have to provide your readers with some background information about the topic so you should start with a broader subject and then introduce a specific topic to your audience. An important part of your introduction is the thesis statement that you are going to argue in your essay. Besides, you can also briefly outline the key points that you are going to discuss in your family and consumer science essay. Body Paragraphs When writing body paragraphs, you need to group together sentences that focus on the same idea so the main points are easy to understand. Typically, the body of your family and consumer science essay should include several supporting arguments that back up your main idea (thesis statement). You have to introduce these arguments in separate paragraphs. The main idea of each paragraph has to be outlined in the first topical sentence. You also need to provide evidence to support each claim. The evidence may include: research from your readings; statistics; arguments; quotations; facts; data. You should also include a reference and tell your readers how this evidence can support your points. The concluding sentence should link each paragraph to the main argument of your essay. You should use transition words and phrases like therefore, at the same time, in addition to, because, accordingly, on the whole etc. to help your readers navigate your essay. Make sure that you use transitions sparingly and only when it is actually necessary. Conclusion A conclusion is your last chance to persuade your audience that your point of view is right. It should convey the sense of completeness and closure but at the same time it should look to the future and be thought-provoking. Don’t write a simple summary but synthesize your ideas and don’t include any new material or evidence. In this part of your essay, you need to move from the specific to the general to set the discussion into a larger context. Revise, Edit, and Proofread Your Draft It’s very unlikely that the first draft of your family and consumer science essay will be perfect. That’s why you should leave enough time to revise, edit, and proofread your own work. First, you have to reread your draft from start to finish and check the structure and the content. You should look at your work as a whole to have a clear picture and understand where you need to make improvements and changes. You may rethink your thesis and restructure your argument, delete irrelevancies or redundancies, and add some new material. You should ensure that the structure of your essay is logical and helps your readers follow your argument. Then you should check the style and the presentation. While proofreading your family and consumer science essay, you should check accuracy, referencing, and language. You’d better check different aspect in separate sessions. You’re advised to use online dictionaries, thesaurus, and grammar guides to check spelling, grammar, and punctuation. Make sure that all references and citations follow a specific citation style (MLA, APA, Chicago, Harvard etc.).

Engineering Ethics Paper Essay Example | Topics and Well Written Essays - 1500 words

Engineering Ethics Paper - Essay Example As an engineer, the general security of the trident plan needs to be reviewed. Contemplation is usually provided to the nuclear cycle from uranium extraction to neutralizing and waste storage. This consideration should be carried out as a community and to decommission the threats and effects of leading mishaps involved with nuclear missiles or submarine vessels. The following paper will look into past and current nuclear submarine mishaps that have paved way for nuclear weaponry overviews that analyze, provide evidence and recommend leaders on nuclear matters that involve engineering and security of the entire global community (Pfatteicher 2). The ex-Soviet Union (Komsomolets) In reference to particular submarine nuclear incidences, the community and department of defense will offer support to the creation of awareness on the impacts of these mishaps (Wallace, Wendy and Project Staff 1992). On April 7, 1989, an inferno began onboard the nuclear-motorized submarine, the Komsomolets. I n spite of the effort of the crew on board to stop the fire, the inferno grew to a point that was out of control. The submarine descended to a deepness of 5,500 feet, whilst off the Northern coast of Norway, 125 miles from the mainland. A crew of sixty-none men passed away. The sinking of the vessel is one of a kind pattern of mishaps that engage the soviet fleet of nuclear-motorized submarines and vessels. If the recent history of the soviet nuclear commerce is any monitor, it will not be the last. Plans that have been made towards a salvage operation after the occurrence of the mishap have been grounded on approximations of the ecological risk postured by the deepened submarine and the nuclear material released to the environment. In accordance with the facts provided by the Environmental Protection Agency, the loss of the soviet vessel most likely posed minimal ecological threats. Before this loss, the ex-Soviet Union had lost three other vessels with nuclear weaponry, and there was no sign of any radiation leak or other issue posturing as an ecological threat. Reacting to similar problems following the sinking of the submarine off Bermuda involved Vice Admiral Powell F. Carter, Jr., meeting with the Joint Chiefs of Staff to discuss the potential ecological threats brought about by the sunken submarine (Wallace, Wendy and Project Staff 1992). The American nuclear professionals had misgivings over the efforts made by the Soviet crew solely because of the inability of raising the submarine vessel from the sunken depths. Whilst the Soviet navy has tools that could submerge and several rescue and saving ships, they were mainly intended to lever submersibles sent down to save stuck crewmen (Pfatteicher 42). The engineering of the saving tools used by the Soviet ships did not have tonics or hoists able to tackle weights exceeding 750 tons. Engineering specialties from the Environmental Protection Agency stated that the soviets were supposed to adjust supertankers to supply adequate and huge platforms for the rescue and holding of the nuclear material. Apart from that, they had misgivings over the capability of the plan and assembled the tools essential for the rescue operation. Even though the salvage operation was practically possible, it could turn out to be an unbelievably hard task. Rather than raising the subma

Stage 1 Essay Example | Topics and Well Written Essays - 250 words

Stage 1 - Essay Example Annual reports comprise the balance sheet, income statement, and statement of cash flows. This paper compares and contrasts the financial statements of Amazon, Apple, and eBay for the period of 2009-2013. Liquidity ratios are financial metrics used to determine a company’s ability to pay off its short-term debts obligations. A higher liquidity ratio indicates a company has a larger safety margin to cover short-term debts. The most widely used liquidity ratios are the quick ratio, current ratio, and the operating cash flow ratio. From the above analysis of the 2010-2013 financial statements of Amazon, Apple, and EBay, several comparisons on the performance of the firms can be deduced. Over the five-year period, all the three companies experience a dip in financial health. The current ratio of the three companies drops yearly from 1.33, 2.02, and 2.32 in 2009 to 1.07, 1.08, and 1.84 in 2013 for Amazon, Apple, and eBay respectively. EBay has the highest current ratio indicating that it is the financially strongest followed by Apple and then Amazon. The managers at Amazon are not generating enough returns on assets. This is indicated by the low return on assets over the five-year period. Managers at Apple are generating stable returns on assets with an average of 20% ROA over the five-year period. On the other hand, managers at eBay are generating unstable returns on assets as indicated by the volatile figures over the five-year period. Amazon’s average return on capital over the five-year period is 4% while Apple’s average return on capital is 33%. On the other hand, the average return on capital for eBay is 14%. From this figures, Apple managers at Apple are providing the highest return on capital followed by managers at eBay and finally managers at