Role of Psychological Contract in Starbucks

Job of Psychological Contract in Starbucks The idea of the imperceptible agreement can likewise be communicated as mental agreement which involves the unwritten work connection between the business and the representative. It is an implicit allowance of faith based expectations typically covered up or stays undetectable, held by the two gatherings which exist together with the composed agreement of work. The mental agreement is utilized to allude to the impression of what the two managers and representatives have in regards to their business relationship dependent on what they are to give and get from one another separately. This idea can be followed back to Ancient Greek Philosophers just as implicit agreement scholars like John Locke and Thomas Hobbes. Kotter (1973) depicts the mental agreement as an understood agreement with determinations of how both the individual and association are intended to carry on in their business relationship. The mental agreement is a theoretical connection among managers and representatives driven by their impression of qualities. As per Cluterbuck (2005) esteem has three center implications and they are an incentive as regard, esteem as worth and incentive as convictions. Incentive as regard alludes to the impression of the representatives towards the association concerning how the worker feels about functioning with that specific association. In the event that the workers feel that they are contributing decidedly to the association and if these endeavors are being perceived by the association, the concealed direction gets fruitful. Incentive as worth then again alludes to how the businesses and representatives make included an incentive for one another through proportional prizes. For instance, the association giving Good compensation and giving preparing and improvement chances to the workers while the representatives thusly enhance investors so as to raise capital. In this proposition different mental viewpoints will be portrayed with regards to association and furthermore its representatives and furthermore the fitting technique for this exploration will be talked about for the further consummation of the examination. 1.1 Research Question What is the job of the undetectable contact or mental agreement among managers and representatives in Starbucks espresso in City East District? 1.2 Key Aims This examination looks for: To think about the Old and New Types of the Psychological agreement To investigate the assessments of a determination of Starbucks Coffees workers and their administrators about their side of the mental agreement. To assess the presumptions the two managers and workers have towards the idea of the mental agreement. To investigate how mental agreements can be upgraded to increment upper hand in grocery stores. To inspect the adjustments in the mental agreement throughout the years, the purposes behind the progressions and the impact the new agreement is having over the two workers and the association. 1.3 Background of the Company: Starbucks Corporation is a global espresso and café chain situated in Seattle, Washington, United States. Starbucks is the biggest café organization on the planet, with 16,120 stores in 49 nations, incorporating around 11,000 in the United States, trailed by almost 1,000 in Canada and more than 800 in Japan. Starbucks sells trickle prepared espresso, coffee based hot beverages, other hot and cold beverages, bites, and things, for example, cups and espresso beans. Through the Starbucks Entertainment division and Hear Music brand, the organization likewise showcases books, music, and film. A significant number of the companys items are occasional or explicit to the area of the store. Starbucks-brand frozen yogurt and espresso are additionally offered at supermarkets. In May 1998, Starbucks effectively entered the European market through its securing of 65 Seattle Coffee Company stores in the UK. The two organizations shared a typical culture, focussing on an incredible responsibility to redid espresso, comparative organization esteems and a common regard for individuals and nature. Part 2 2.0 Literature Review This part features the significant contentions encompassing the idea of the mental agreement. The mental agreement is unwritten and in this way it is simply suggested yet could be unequivocal somewhat yet not really take into consideration consent to the gatherings inclusion. It can vary from individual to individual just as from different associations since people have different observations even with similar terms and conditions it despite everything changes among people. The idea of the mental agreement can be followed back to Ancient Greek Philosophers and implicit agreement scholars like John Locke and Thomas Hobbes. William Morris portrayed Love of work as a Man at work making something which he feels will exist since he is working at it and wills it and is in this manner practicing the energies of his psyche, soul and body (Morris 1870). 2.1 Definitions of the Psychological agreement Agyris (1960) has been given acknowledgment for bringing to spotlight the idea of mental agreement. He depicts the mental agreement as a lot of commonsense and enthusiastic desires for benefits that the two businesses and representatives have of one another. Kotters (1973) characterizes the mental agreement as an understood agreement between an individual and his association which determines what each is relied upon to give and get from one another in the relationship. Morrison and Robinson (1997) then again depict the mental agreement as a work conviction about the proportional commitments between that worker and their associations where these commitments depend on apparent guarantees and are not really perceived by operators of the association. As indicated by Schein (1978) the mental agreement was portrayed as a lot of unwritten equal desires between the individual worker and the association. As per Goddard (1988), the manner in which mental agreement is overseen will decide how fruitful an association will turn into. The mental agreement involves what the two gatherings to the agreement (for example the business and worker) anticipate from one another dependent on their work convictions and qualities. 2.2 Types of Psychological Contract Rousseau (1995) depicts four sorts of mental agreement. The main kind is the value-based which is present moment and there is almost no inclusion of the gatherings, workers are increasingly worried about pay and individual advantages as opposed to being acceptable authoritative residents (Robinson et al 1994). The second kind of mental agreement is the social, which is a drawn out sort centers around progressively enthusiastic components like help and devotion instead of on financial issues like compensation and remuneration. The third sort is the half breed or adjusted which focuses on long haul connections among bosses and workers just as determining execution prerequisites. The fourth kind is the transitional agreement which as indicated by (Rousseau, 1995) doesn't offer any type of assurance in light of the regularly changing nature of the associations condition. Transient Long term Value-based (ex. retail agents employed during Christmas shopping season) Low vagueness Simple leave/high turnover Low part responsibility Opportunity to enter new agreements Small learning Powerless coordination/recognizable proof Adjusted (ex. high contribution group) High part responsibility High joining/recognizable proof Progressing improvement Common help Dynamic Transitional ex. representative encounters following merger or acquisitions) Vagueness/vulnerability High turnover/Termination Precariousness Social (ex. privately-run company individuals) High part Commitment High full of feeling responsibility High joining/recognizable proof Steadiness Table 1: Types of Psychological agreement (Rousseau 1995 Pg 17) The mental agreement is a theoretical connection among bosses and representatives driven by their view of qualities. As indicated by Cluterbuck (2005) esteem has three center implications and they are an incentive as regard, esteem as worth and incentive as convictions. Incentive as regard alludes to the view of the representatives towards the association concerning how the worker feels about functioning with that specific association. On the off chance that the workers feel that they are contributing emphatically to the association and if these endeavors are being perceived by the association, the shrouded direction gets effective. Incentive as worth then again alludes to how the businesses and workers make included an incentive for one another through proportional prizes. For instance, the association giving Good compensation and giving preparing and advancement chances to the workers while the representatives thusly increase the value of investors so as to raise capital. There mus t likewise be a feeling of balance here so the gatherings included feel a feeling of reasonableness. There are two primary sorts of mental agreement and they are the Transactional and Relational Psychological agreements. The value-based spotlights on present moment and explicit monitory concurrences with little association of the gatherings where representatives are increasingly keen on great advantages and remunerations. The social mental agreement then again is a drawn out agreement that centers around help and dependability as opposed to on monitory issues, it is an increasingly enthusiastic agreement. Rousseau (1990) categorisation of commitments as social or value-based is demonstrated as follows (Table 2) Boss Obligations: Value-based Boss Obligations: Relational Representative Obligations: Transactional Representative Obligations: Social Headway Preparing Notice Additional time Significant compensation Professional stability Moves Dependability Legitimacy Pay Improvement No contender support Additional job conduct Backing Least Stay Source: Rousseau (1990) Table 2: Categorisation of manager and representative commitments as Transactional or Relational 2.3 Changes to the Psychological agreement The idea of the mental agreement has driven Academic

Present Perfect Tense in Spanish

Present Perfect Tense in Spanish Notwithstanding its name, the current ideal tense in Spanish (and English too) is utilized to allude to occasions that occurred before. Its utilization in Spanish can be dubious, be that as it may, on the grounds that its use fluctuates with district and it once in a while is utilized in somewhat unexpected manners in comparison to it is in English. In Spanish, the current immaculate tense is shaped by the current state of haber followed by the past participle. (In English its the current state of to have followed by the past participle.) It by and large demonstrates that an activity has been finished that makes them bear on the present. Types of Present Perfect Tense Here are the structures where the current immaculate would be expressed. Pronouns are incorporated here for lucidity however regularly arent fundamental: yo he past participle (I have ...)tã º has past participle (you have ...)usted/à ©l/ella ha past participle (you have, he/she has ...)nosotros/nosotras hemos past participle (we have ...)vosotros/vosotras habã ©is past participle (you have ...)ustedes/ellos/ellas han past participle (you have, they have ...) Note that while in English, as in a portion of the models above, it is conceivable to isolate the have from the past participle, in Spanish you regularly dont separateâ haberâ from participles. Be that as it may, if haber applies to two participles, the subsequent haber can be discarded, as in the subsequent example sentence beneath. Test Sentences Here are a few instances of sentences utilizing the current ideal tense alongside the way theyd most generally be deciphered: Me he comprado una esponja rosa. (I have purchased a pink sponge.) ¡Es lo mejor que he visto y escuchado en mi vida! (Its the best thing I have seen and heard in my life!) ¿Alguna vez has hablado con las ranas a medianoche? (Have you chatted with the frogs at midnight?)Todos lo hemos pensado. (We all have thought it.)Minerva ha conocido ya a los padres de su novio. (Minerva has just met her beaus parents.)Siempre he anhelado tener un metabolismo con el cual pueda comer lo que quiera. (I have for a long while been itching to have a digestion that would let me eat whatever I want.)Hay videojuegos que han hecho historia. (There are computer games that have made history.)He leã ­do y acepto la polã ­tica de privacidad. (I have perused and I acknowledge the security arrangement.) Subjunctive Use The subjunctive present ideal capacities similarly: Mi amiga niega que su madre haya comprado un regalo para el perro. (My companion denies that her mom has purchased a present for the dog.)Titular: 14 piscinas que no se parecen a nothing que hayas visto risks. (Feature: 14 pools that dont appear as though anything you have seen before.)Es likely que hayan escondido micrã ³fonos en la casa y estã ©n escuchando nuestras conversaciones. (Almost certainly, they have shrouded receivers in the house and are tuning in to our conversations.)El la elecciã ³n ms sucia que hayamos conocido en los à ºltimos tiempos. (It is the dirtiest political race that we have known as of late.) Present Perfect With Meaning of the Preterite You ought to know, notwithstanding, that the Spanish present impeccable tense ought not generally be thought of as what might be compared to the English present immaculate tense. In numerous districts, it very well may be utilized as what could be compared to the English basic past tense. In some cases the setting will make this understood: Ha llegado hace un rato. (She showed up a tad ago.)Cuando lo he visto no he podido creerlo. (At the point when I saw it I couldnt trust it.)Leo la carta que me han escrito esta maã ±ana. (I am perusing the letter they kept in touch with me this morning.)Esta maã ±ana he estado en Madrid. (At the beginning of today I was in Madrid.) Be that as it may, even where the setting doesnt direct in this way, the current flawless can be what might be compared to the English preterite, otherwise called the basic past. This is particularly valid for occasions that happened as of late. Youre additionally bound to hear the current ideal utilized along these lines in Spain than in the greater part of Latin America, where the preterite might be liked (e.g., llegã ³ hace un rato). Key Takeaways The current flawless tense is framed by following the current state of haber with a past participle.No words ought to mediate among haber and the participle.The Spanish present immaculate at times is utilized to demonstrate than a move as of late made spot as opposed to just that it has happened.

Middle East changing demographics and its effect on us national Case Study

Center East changing socioeconomics and its impact on us national security - Case Study Example A similar association was engaged with WTC assaults of 9/11. Osama Bin Laden desires the Muslims, living in the post separated locales of the world, to consider the intolerable violations being submitted by the Judo-Christian Alliance governing over the world through the USA, Israel and their partners. He actuates the feelings of the Muslims by reminding them the monstrosities and savageries have been being practiced against them since long in practically all nations and states. He insinuates the arrangement of torments applied by the non-Muslims upon the Muslims in the Russian regions, the CARS, Chechnya, Bosnia, Kashmir, Afghanistan, Iraq, Palestine, Lebanon and different pieces of the globe. He contends the very truth that the Muslims are glanced downward on in Europe and are genuinely suspected in the USA and Australia just as the remainder of the west. Since the monstrosities of the non-Muslims are expanding step by step, jihad is the best way to annihilate these infringement of Muslim rights and break into their ground-breaking system. R eceptacle Laden refers to the blessed refrains of the Noble Quran, where the Muslims have been encouraged and conjured to endeavor against the insidiousness any place they discover it inside their condition. At the end of the day, Bin Laden states vicious battle against the heathens as the jihad, which is the fundamental mainstay of the confidence of Islam. The Jews and Christians have dispensed bunches of torments and sufferings upon the Muslims and apply social and social treacheries and segregations based on their well established one-sided ness and partiality against Muslim. Since there is no chance of preventing the Jews and Christians from showing their monstrosities on vulnerable Muslims, jihad (for example fear based oppressor assault) is the main way to...Rather, she is anxious to support her control over all the economies of the world, and actualize her own political and financial request on every autonomous state. Thus, a portion of the racial and strict gatherings began a rebel against the US strategies, which brought about a condition of steady clash everywhere throughout the world. Being the focal point of warring strict gatherings, the Middle East turned out the most exceedingly awful conceivable land for the US dreams, and the quick changing segment and vital circumstance of the locale left negative effect on the USA, where the USA needed to allot a gigantic measure of men, cash and assets so as to oppress the dissident powers. It applied negative effects on the US economy by placing it into the condition of peril. Before leaving upon the point under investigation, it is prudent to expand the Middle East and the psychological militant association of Al Qaeda to sum things up. It has apropos been seen that land limits, key position, monetary conditions and security quality decide the degree of qualities of a country, and the global network builds up its relations with the country keeping in see every one of these elements and appraisals. Dakake, actually, keeps up very unique assessment of jihad. He connects jihad with negligible conflict against the malicious enticements of the evil powers. Jihad doesn't mean, as indicated by him, the forceful mentality and savagery against one’s foes.

Health Benefits Of Drinking Green Smoothies - 862 Words

A. (Show a picture of scurvy infected teeth.) SCURVY! A vitamin C deficiency resulting in lethargy, bleeding gums, loss of teeth, fever, or rare in modern cases, death. (attention-getter) B. The cure for scurvy is vitamin C. Fortunately, natural vitamin C is provided solely by certain fruits and vegetables such as kale, spinach, mangos, the famous orange and the list goes on. (credibility) C. I am sure no one wants to agonize in the painful consequences lack of fruits and vegetables can inflict. (common ground) D. (Show picture of green smoothies) Green smoothies are a delicious and healthy source of energy that can provide you with numerous health benefits. (thesis) E. Today, I will tell you how I was introduced to green smoothies. Then, I will discuss some major health benefits of drinking green smoothies. Finally, I will tell you how to make a green smoothie. (preview) Transition: First, let me enlighten you about my green smoothie experience. II. Body A. My Initial response About two years ago my mother started running marathons and attending the gym. Soon after, she began drinking and making green smoothies on a daily basis. Whenever she made green smoothies she would offer a cup to my dad, my sister and me. However, our response was always the same, no thank, I prefer not to drink ‘green sludge’, as was our declared name for green smoothies. B. Embracing green smoothies. Fall 2014, I became a USF student. For the semester I had an unlimited access mealShow MoreRelatedSupportive Networking Essay733 Words   |  3 Pagesvitamin C to kick start your safe framework. Journal 11: Eating one green vegetable for every day or one verdant green is an incredible approach to get yourself more beneficial in the kitchen without much idea. It can be a measure of broccoli at supper or spinach snuck into a smoothie. A measure of green beans at supper or some verdant kale hurled with cleaved sweet potato and some basic seasonings. Anything tallies, simply ensure its green, common, and from the earth. These sustenance’s furnish us withRead MoreThe Effects Of Popular Energy Drinks On Young Adults And Teenagers1410 Words   |  6 Pageswould be that an individual accomplishes their goal for the day, because they were given the energy to do so. There are also certain health benefits that might occur, due to these drinks. For example, they have ingredients that might protect against some illnesses. However, people who consume these drinks might not know that they could be risking their overall health. The Food and Drug Administration has all three of these beverages listed on their website. They have charts that show possible sideRead MoreBenefits Of A Plant-Based Diet1094 Words   |  5 Pageschocolate will do. Dark chocolate with more than 60% cacao is ideal. While it’s tough to find brands that don’t add sugar, be wary of what kind of sugar they add. Green Black’s uses organic cane sugar. 5. Beets. If you only add one new food to your low blood pressure grocery list, make it beets. A University of London study reveals that drinking just over two cups of beetroot juice daily lowers blood pressure. The active ingredient here are dietary nitrates that react with our digestive juices. I’mRead MoreEssay On Healthy Tips For Indian Diet903 Words   |  4 Pagesthe major food groups each time you eat. A few great sources of protein to consider are cottage cheese, leafy greens, milk, sprouts, eggs, and pulses. Another idea you could try is adding fruit to your oats, cereal, or cottage cheese. Hydration When you think of hydration you may think only of water but most people try to hydrate themselves in other ways. Some people may drink smoothies which take away from how your body could take advantage of the nutrients that fruits offer. Many people may casuallyRead MoreInformative Speech On Boba989 Words   |  4 Pagesingredients of bubble tea is some sort of flavoring, creamer, sweetener, and liquid. c. Some examples of the different boba drinks you can get are the traditional milk tea, taro milk tea, green milk tea, or my personal favorite, the thai milk tea. B. Is boba better for you than coffee? 1. The bad health benefits of boba includes risk for diabetes due the large amounts of sugar and the risk for obesity because of its high calories a. There are 36 grams of sugar in a boba drink (healthline articleRead MorePregnancy Diet Essay1176 Words   |  5 PagesPregnancy Diet Preparing for a baby’s arrival is important but following a course for mom’s health during pregnancy is even more dynamic. Here are some useful tips in order to certify both a healthy mom and a healthy baby. Folic acid plays a major role in encouraging a baby’s neurological development. It is also healthy for the mom to consume because it is a B vitamin (B9) found mostly in leafy green vegetables. Mainly like kale and spinach, orange juice, and enriched grains. In the fetus, folicRead MoreInnocent Smoothies Are Coming to Japan2923 Words   |  12 PagesIntroduction Innocent is a well-established smoothie and health food company in its home market of the UK and has had success in moving into various markets in the European Union. With the added partnership with global brand Coca-Cola, it could be said that Innocent is in prime position to begin its expansion into new markets globally. This report will note the benefits and potential risks of entering the chosen market of Japan based on research and theoretical analysis. Japan was first chosen dueRead MoreInnocent Company Analysis Essay7516 Words   |  31 Pagescould start to make more use of economies of scale, which increases the margins. 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This combination provides the firm with an opportunityRead MoreInnocent Drinks5432 Words   |  22 PagesThey produce 5 product ranges totalling 17 varieties and are the market leader in Smoothies in the UK (innocent). Innocent is a British beverage producer that makes and distributes a range of natural fruit drinks in the UK. The products of the company include smoothies, thickies, juices, and fruit-enhanced water. Innocent sells its products through coffee shops, grocery stores and department stores. Innocent smoothies contain over three-quarters of a pound of pure and fresh fruit without sugar, water

The Wilmot Proviso And The Civil War - 1614 Words

The Wilmot Proviso After the Mexican War had ended, a Democratic congressman from PA, David Wilmot, gave a provocative speech to the House that endorsed the annexation of Texas as a slave state on August 8 of 1846. Because Mexico now forbade slavery, Wilmot declared that if any new territory were to be acquired from Mexico, there should be no slavery or involuntary servitude there. His Proviso sparked new political conflict and debate over the extension of slavery and tested the Missouri Compromise that had protected both slave states and free states and not permitting it in newly admitted states. With newly acquired territory from the Mexican War, the national debate continued and in 1846, the House of Representatives passed the Wilmot Proviso but it did not pass through the Senate. President Polk decided that the debate over slavery had nothing to do with the war in Mexico and dismissed the proviso as mischievous and foolish†. Furthermore, the president convinced Wilmot to withhold his amendmen t from any bill in relation with the annexation of Mexican territories. Although his proviso did not pass, his idea kept appearing in Congress years after. People who opposed his Proviso wrote a thesis to counter the proviso such as John C. Calhoun. Calhoun declared that slavery should be allowed in the Mexican territory because per the Fifth Amendment, people were granted life, liberty and property; slaves were property. Thus the topic of slavery played a prominent role in dividingShow MoreRelatedWilmot Proviso1205 Words   |  5 PagesWilmot Proviso It could be said that the American Civil War was brought on by Americans need to expand its territories and the one sided Mexican War. The whole debate or controversy over this expansion was David Wilmot’s (and his squad of backers: Hamlin, Brinkerhoff, and King) trying to implement the Wilmot Proviso into the funding for the Mexican territories we acquired. The proviso actually fueled the debate over slavery into the newly acquired territories by trying to make the territoriesRead MoreDebate on Civil War1069 Words   |  5 PagesAmerican Historians’ Debate on the Civil War The American Civil War has without a doubt left a permanent divide on this great nation’s past and present. American historians still debate the causes of a war that began in 1861 between the Union states and Confederacy states. The war can be seen as caused by the principle of slavery, the growing tension between northern and southern ideology or due to a crack in the political system of the time. United States’ history classes focus on teaching studentsRead MoreThe Fate Of Their Country : Politicians, Slavery Extensions, And The Coming Of Civil War1344 Words   |  6 PagesThe author of â€Å"The fate of their Country: Politicians, Slavery Extensions, and the coming of Civil War†, Michael F. Holt has several very good points about the reasons why the Civil War happened. Now I am going to explain why he thinks that slavery is the main issue of the conflict between the North and South. Why did Texas have such a pivotal role in the struggle between states? Why wa s the Wilmot Proviso politically dangerous? What occurred in Kansas and why did things go do wrong? And what is theRead MoreIncreased Sectional Tension between the Notrht and the South1008 Words   |  4 Pagesthe Wilmot Proviso of 1846, the publication of Uncle Tom’s Cabin in 1852, and the Kansas-Nebraska Act of 1854, the sectional tension was continually intensified. Despite the fact that the Wilmot Proviso failed in the Senate, it politicized the issue of slavery in the territories. Since the United States gained a large amount of land as a result of the victory over Mexico, the westward expansion of slavery became a major concern. Hoping to settle this problem once and for all, David Wilmot fromRead MoreCivil War Began in 1787?886 Words   |  4 PagesCivil war began in 1787? 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Tolerance for slavery was not the only singular cause of the Civil War. Profusions of both short and long term causes contributed to the outbreak of the Civil War. The introduction of slavery had an ingrained impact, as the Mexican-American War significantly lead to tension, and Lincoln’s election sparked disunion between the nation. Four centuries ago from 1619 to 1861, the practice of slavery existed

Essay about The United States from 1865 to 1950 - 1172 Words

The United States changed dramatically from 1865 to 1950. Many changes occurred in industrialization, foreign affairs, government, as well as in society and culture. The events that took place within this time period helped shape this country into what it is today. Industrial development began with the railroad, with the help of Republican governments, who provided subsidies, loans and tax exemptions to railroad corporations. Over 52,000 miles of railroad were laid all over the nation between 1854 and 1879. Railroads stimulated growth. They required many resources to build, such as coal, wood, glass, rubber, and brass. Most importantly, the railroad connected the country. Although small factories were already up and running three†¦show more content†¦Industrialization changed the lives of the people of this nation. By the late nineteenth century, with advances in technology, communication, and transportation, a new type of industrialization was formed, a global one. At the end of the nineteenth century an elite group containing Christian missionaries, intellectuals, business leaders, commercial farmers, and navy careerists, lobbied the White House, Congress, and the State and War departments for the United States to be more active abroad. In the 1880’s, Congress started a program to modernize the United States’ navy. With the improved navy, the country had what it took to turn into an imperial power. Missionaries set out teach natives abroad the Western culture and convert them to Christianity. Entrepreneurs expanded their businesses overseas. The Singer Sewing Machine Company sent 60,000 representatives to China to try to sell their products. Minor Keith and his Tropical Fruit Company were building railroads in Costa Rica. Foreign investments flourished, while the depression of 1893 worsened at home. America’s imperial moment arrived when they freed Cuba from Spanish rule. America had to do what was necessary to keep Spain at Bay. President McKinley cautiously lobbied to Spain that they stop destroying American property in Cuba. Since Spain was unwilling to compromise, in 1898, McKinley sent over the battleship Maine, to show that the UnitedShow MoreRelatedThe Changing Concept of Race in the South Essay580 Words   |  3 Pages Throughout the years, the concept of race has changed in the South. Slavery and the concept of â€Å"white supremacy† have largely contributed to the viewpoints of race in the southern states, as well as the rest of the country. The definition of race has changed, as well as the effects of race on a nation. Prior to the sixteenth century, race was defined as descendants of a common ancestor, or your kin. This definitionRead MoreThe Ku Klux Klan, also known as the Klan or the KKK, originated in Pulaski, Tennessee, in 1865.600 Words   |  3 Pagesoriginated in Pulaski, Tennessee, in 1865. The first KKK was formed by six Civil war veterans, with the purpose to restore power to the plantation owners. The people that the KKK was against was African Americans and republicans. The second KKK was founded in Atlanta, Georgia, in 1921. This KKK lasted much longer and had millions of members, partially due to their organization with finances and members. The third KKK was founded as a civil rights movement in the 1950’s. The Ku Klux Klan was formedRead MoreAp Exam Essays1660 Words   |  7 Pagesthe New England colonies from 1630 through the 1660s? 2. Analyze the political, diplomatic, and military reasons for the United States victory in the Revolutionary War. Confine your answer to the period 1775–1783. 3. Analyze the ways in which controversy over the extension of slavery into western territories contributed to the coming of the Civil War. Confine your answer to the period 1845–1861. 4. 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(Slavery in America, 2012) During the 17th andRead MoreAfrican Americans And The Civil War859 Words   |  4 PagesIn December of 1865, the Thirteenth Amendment officially banned slavery throughout the United States of America. After multiple centuries of chattel slavery, predominately in the American South, African-Americans were finally set free from bondage. The fourteenth and fifteenth amendments quickly followed, granting citizenship to â€Å"all persons born or naturalized in the United States† and granting African American men the right to vote, respectively. Naturally, Americans denoted these momentousRead MoreHistory of Modern Sports1040 Words   |  5 PagesThe period of 1865 to 1950 was critical to the formation of â€Å"Modern† sport that is recognized today. In an article by Allen Guttmann titled From Ritual to Record: the nature of modern sport, Guttmann outlines seven characteristics that played a central role in the development of sports. 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Law for Stevens v Brodribb Sawmilling Co Pty Ltd †Free Samples

Question: Discuss about the Law for Stevens v Brodribb Sawmilling Co Pty Ltd. Answer: The contract for service and contract of service though may sound similar but are not the same as each other. In a contract of service the relationship between the parties is that of an employee and an employer. On the other hand contract for service is of an independent contract, the relationship that exists between them is that of an independent contractor and an engager. Though this might seem straightforward however there still remains confusion as to differentiation between the two. As has been stated by the, then, Australian Industrial Relations Commission in the case of Sammartino v Mayne Nickless Toleration of an amorphous contractual distinction being used to shield arrangements that are not materially different, serves to encourage anomalies in the operation of the [applicable] regulatory regime (Sammartino v Mayne Nickless, [2000]). The central issue has been highlighted by AIRC in categorizing the relationships in a work environment, the fact that there still does not exi st a practical and accepted legal test for distinguishing the employees. Though the operation of legislations related to workplace both the State and Commonwealth are tied to their being a relationship of employment between the parties, while the main concern of the proposed Independent Contractors Bill 2006 is the independent contractors conduct (Creighton and Stewart, 2016). There is however, nowhere, an attempt of defining either the term independent contractor or the term employee. beyond the meaning that it holds under common law. It is essential thus to always keep turning to common law for determining the nature of relationship of work between the parties. There is no single conclusive test that exists in when it comes to the classification of relationship which as mentioned by the AIRC is the central problem when it comes to defining relationships. The control test was the traditional test that was used for determining whether there existed a employer employee relationship. It depended on how and to what extent the control was exercised what was essential was the actual exercise and the degree of control (Pittard, Naughton and McCallum, 2003). This control test however, is no longer useful and has eroded over time as in may modern situation the skill of the employee exceeds the employers expertise (Creighton et al., 2016). Thus there may be a significant amount of autonomy that is given to the employee for the exercise of these skills. There is in practice a multi factor approach that is used by courts. In other words there is no one test that determines the relationship but the totality of the situation is observed by the court. Though, control is essential there are other elements apart from control which are observed (Sappideen et al., 2016). In the case of Performing Right Society Ltd v Mitchell and Booker (Palais de Danse) Ltd the factors which are considered in connection with determining the work relationship between the band and the defendant as had been disclosed in writing by the parties where that, of regular working hours indicated employment; fixed employment period though inconclusive suggested that there was employment; dictation of place of work though inconclusive suggested that there was employment; demand of exclusivity of service indicated employment; right of dismissing summarily for breach of reasonable requirement or instruction this is associated traditionally with employment; dominant, detailed and continuous control on everything including the music that was to be played indicated employment (Performing Right Society Ltd v Mitchell and Booker (Palais de Danse) Ltd, [1924]). These factors were weighed and it was opined that the band was an employee. The court in reaching this opinion stated that It seems, however, reasonably clear that the final test, if there be a final test, and certainly the test to be generally applied, lies in the nature and degree of detailed control over the person alleged to be a servant. The traditional emphasis being placed on control was apparent in this case. There were however, other factors which were being considered.common law There, however, has been a change in this test and the High Court in the case of Stevens v Brodribb Sawmilling Co Pty Ltd placed into perspective the control test stating that though the fact that control existed is significant however, it is not the only criteria for gauging whether the relationship is of an independent contractor or an employee (Stevens v Brodribb Sawmilling Co Pty Ltd, [1986]). It was regarded as merely an indicator and reinforced this point by stating that Control is not now regarded as the only relevant factor. Rather it is the totality of the relationship between the parties which must be considered. In this case the multi indica test was highlighted by the High Court wherein it stated that The existence of control, whilst significant, is not the sole criterion by which to gauge whether a relationship is one of employment. Other relevant matters include, but are not limited to, the mode of remuneration, the provision and maintenance of equipment, the obligation to work, the hours of work and provision of holidays, the deduction of income tax and the delegation of work by the putative employee (Stevens v Brodribb Sawmilling Co Pty Ltd, [1986]). It further stated that It is 'no longer sufficient to consider only the extent to which the employer may exercise control (whether actual or the authority to do so) over those sought to be characterised as employees'. However, it must be noted that in most cases it is still appropriate to apply the 'control test' in the first instance because it remains the surest guide to whether a person is contracting independently or serving as an employee (Stevens v Brodribb Sawmilling Co Pty Ltd, [1986]). This approach that the High Court adopted was confirmed further in the decisions of Vabu and Sweeney. In the case of Vabu the High Court decided ultimately that the courier was Hollis v Vabu employee thus making Vabu liable vicariously for the negligence of the courier. The High Court in determining Mr. Holliss claim disagreed with the conclusion that was reached by court of appeal and stated that too much of an emphasis was placed on the maintenance and ownership of the bicycles by the courier and providing of their own equipment (Hollis v Vabu, [2001]). The indica that was referred to by the court for determining the relationship was that there was no or little control which the couriers had regarding the performance of their job; a uniform was required to be worn by the couriers presenting them as emanation of Vabu before the public; the dangers to the pedestrians was known to Vabu presented by the couriers however, there was a failure to adopt any personal identification by public of individual couriers by any mean; couriers finances were administered by Vabu there was no scope o ffered for bargaining the remuneration by the couriers and there was limited scope for the couriers to undertake enterprise of their own (Collins, 2010). Therefore the fact that the couriers were required to supply equipment and transport on their own was not determinative (Riley, 2007). In this case departing from the judgment of the majority it was found by Justice McHugh that the worker was neither an employee nor an independent contract, however, there would be vicarious liability on the employer for the conduct of the worker. The view that was expressed by him that this case was not such wherein the definition of independent contractor or employee should be expanded for including couriers/worker roles. According to him the couriers were neither employees nor were they independent contractors. His honor instead stated that there was an opportunity which was provided by this case for adapting the vicarious liability doctrine to fit better the workplace environment in the modern times (Stewart, 2015). It was stated by him It is true that the couriers employed by Vabu are neither employees nor independent contractors in the strict sense. But there is no reason in policy for upholding the strict classification of employees and non-employees in the law of vicarious liability and depriving Mr Hollis of compensation. Rather than expanding the definition of employee or accepting the employee/independent contractor dichotomy, the preferable cause is to hold that employers can be vicariously liable for the tortious conduct of agents who are neither employees nor independent contractors. Thus stating in this case that the worker who defaulted was neither an employee or an independent contract, but should have been probably categorised as the employers agent, thus nevertheless making the employer negligent under vicarious liability. In the later decision of High Court in the case of Sweeney v Boylan Nominees Pty Ltd there were similar considerations that arose where the majority rejected the wider application of the vicarious liability principle which was advocated in Vabu by McHugh J. It was held in this case by majority that Boylan was not liable vicariously for the mechanics actions because he 'did what he did not as an employee... but as a principal pursuing his own business or as an employee of his own company pursuing its business'. The majority in its joint judgment stated that The wider proposition that underpinned the argument of the [plaintiff], that if A 'represents' B, B is vicariously liable for the conduct of A, is a proposition of such generality that it goes well beyond the bounds set by notions of control (with old, and now imperfect analogies of servitude) or set by notions of course of employment.Those bounds should not now be redrawn in the manner asserted by the appellant (Sweeney v Boylan Nominees Pty Ltd, [2006]). This opinion was dissented by Justice Kirby who stated that the changing social scenario was to be kept in mind which were affecting the employments economic activities or in contemporary Australia quasi-employment. If reliance was placed on the recognized exceptions, which is quite narrow, then the rule in general discussed, there would be a liability that Boylan would have towards the plaintiff based on the fact that the mechanic represented as an agent of the party who was sued, performing the functions of the party and advancing the economic interest that it has, as part of its enterprise effectively (Burnett, 2007). It is also important to mention the test of economic dependence, this test although has not received much support from the courts, it may still be essential for considering when determining if an individual is an independent contractor or an employee (Lawlor and Willey, 2017). This test requires that there should be an examination in the economic relationship of the practical reality rather than scrutinizing the terms in details on which the engagement of the worker was done formerly. It is is only if the worker is in business on their account or is operating as an 'independent economic unit' (Price and Neilsen, 2009). It can be stated that in Hollis v Vabu the High Court was leaning towards this test when discussing on the matters relating to the engagement of the courier left the courier with limited scope of engaging in a business enterprise of its own. A clear example of this can be viewed in Gray Js judgment in the case of Re Porter: A party may be described as an independent contractor, and the contract may even provide expressly that he or she is at liberty to provide services to other persons, outside of the contract. The reality may be that economic considerations dictate that work will only be accepted from the other party to the contract... In such circumstances, there is no particular reason why a court should ignore the practical circumstances, and cling to the theoretical niceties. The level of economic dependence of one party upon another, and the manner in which that economic dependence may be exploited, will always be relevant factors in the determination whether a particular contract is one of employment (Re Porter, [1989]). There are various indicator to the multiple indica test and the list is in no means exhaustive the Fair Work Act 2009 and the Independent Contractors Act 2006 protect the entitlement and rights of independent contractors. It states that the difference between the independent contractor and an employee can be based on various factors. There is no one single factor which could determine if an individual is a contractor or an employee. Each case has to be looked into by the courts and the decision is to be given based totally on the relationship that exists between the parties. Some of them include intention of the party as to the relationship type, capacity to exercise or exercise of control over the manner of work and work performed, work undertaken for others or not if it is exclusive working, control over work hours, if there is a set of minimum and maximum hours, if tools and equipments are provided, if it is required for the employer to work in the business premises, if the employ ee is subject to be dismissed at the employers initiation and such other indicators (Waarden, 2010). In view of the above I agree to the fact that the central issue that has been highlighted by AIRC with respect to categorizing the relationships in a work environment and the fact that there still does not exist a practical and accepted legal test for distinguishing the employees is to a large extent true. Though Stevens v Brodribb Sawmilling Co Pty Ltd. introduced the principle of multi-factor test where there is analysis of the terms of contract of the party for indicating whether there was an independent contract or an employer employee relationship: income tax being deducted from the salary and set days and hours of work indicate that there is a relationship of employment, whereas the ability of delegation, the maintenance and provision of equipment, payment by way of task and there being no obligation mentioned clearly for being present for work indicate a relationship of independent contractor. These indicas are then weighed for obtaining the type of contracts overall impressio n. However these indicators can lead to different results as discussed and there can be contradicting views for the application of the test and how the relationship is to be determined (Wheelwright, 2003). In Australia it has been long accepted that even when there is express intention by the parties for creating an independent contract the courts will look beyond these contractual terms expressly mentioned for examining the relationships reality. The courts in doing so are applying the principle of equity which does not look into form but into substance. However as observed above in different cases though there different responses to the principle of multiple indica that is being observed by the Australian courts there is not yet a coherent body of law which would be able to clarify these broad principles that exist (Owens and Riley, 2017). This leads to contradicting views in the modern workplace relationship for defying relationships as independent contractors or employees. References Burnett, J. (2007). Avoiding Difficult Questions: Vicarious Liability and Independent Contractors in Sweeney v Boylan Nominees. Sydney Law Review, 162(129). Collins, H. (2010). Employment Law. 2nd ed. Oxford University Press. Creighton, B. and Stewart, A. (2016). Labour Law: An Introduction. 6th ed. Federation Press. Creighton, W., Stewart, A., Forsyth, A., Irving, M., Johnstone, R. and McCrystal, S. (2016). Creighton Stewart's labour law. 6th ed. Federation Press. Dennis-Escoffier, S. (2016). Employee or Independent Contractor. Journal of Corporate Accounting Finance, 27(3), pp.101-104. Hollis v Vabu [2001]207 CLR 21. Lawlor, L. and Willey, S. (2017). Are Your Workers Employees or Independent Contractors? Three Exercises to Help Students Accurately Classify Workers. Journal of Legal Studies Education, 34(2), pp.167-205. Owens, R. and Riley, J. (2017). The Law of Work. 2nd ed. Oxford. Performing Right Society Ltd v Mitchell and Booker (Palais de Danse) Ltd [1924]1 KB 762. Pittard, M., Naughton, R. and McCallum, R. (2003). Australian labour law. Australia: LexisNexis Butterworths. Price, R. and Neilsen, J. (2009). Employment law in principle. Sydney: Lawbook Co. Re Porter [1989]34IR 179. Riley, J. (2007). Employees or Contractors? Engaging Staff Following Work Choices, and in the Light of the Proposed Independent Contractors Legislation. SSRN Electronic Journal. Sammartino v Mayne Nickless [2000]98 IR 168 (at [46]). Sappideen, C., O'Grady, P., Riley, J. and Smith, B. (2016). Macken's law of employment. 8th ed. Lawbook Co. Stevens v Brodribb Sawmilling Co Pty Ltd (1986) [1986]160 CLR 16. Stewart, A. (2015). Stewart's guide to employment law. Annandale, N.S.W: Federation Press. Sweeney v Boylan Nominees Pty Ltd [2006]HCA 19. Waarden, N. (2010). Employment Law. 2nd ed. Lexis Nexis. Wheelwright, K. (2003). Labour law. Sydney: LexisNexis Butterworths

House On Mango Street Essays (267 words) - , Term Papers

House On Mango Street Close Reading Darius & the Clouds Page 33-34 In the chapter Darius & the Clouds Sandra Cineros uses descriptive language and metaphors to engage the reader in the story. In this chapter the general theme of freedom is also exhibited when the author talks about Darius and also talks about the sky. The sky in this chapter represents the theme of freedom. The sky is used as a metaphor to describe freedom and how there are no boundaries and there is no limit. You can also not have enough freedom and never get sick of having freedom. This is shown in the first paragraph where it says, ?You can never have too much sky. You can fall asleep and wake up drunk on sky, and sky can keep you safe when you are sad.? Another theme that is portrayed in this chapter is the theme of sadness and emptiness. Throughout the story all of the characters have something that they wish they had more of and for many of the characters, especially the women, what they want is freedom. This theme is used as a metaphor similar to how sky was used. It said, ?Here there is too much sadness and not enough sky. Butterflies too are few and so are flowers and most things that are beautiful.? This shows that all of the characters wish that they had a little more in their lives. Throughout this chapter Sandra Cisneros uses different metaphors and common themes to keep the reader interested. The sky witch represents freedom is one of these common themes that are used.

Criminal Behavior Conditioning Essays

Criminal Behavior Conditioning Essays Criminal Behavior Conditioning Essay Criminal Behavior Conditioning Essay Dr. Terrie Moffitt provides consent to the detection and early intervention concept for developmental/behavioral issues. Since 1993, Dr. Moffitt has focused on two youth types- both developmental in nature- that lead to delinquency. Dr. Moffitt defined these problematic individuals as either life-course-persistent (LCP) offenders, or adolescent-limited (AL) offenders. Where the AL offenders exhibit shorter cycles of delinquency that begin and usually end within his/her adolescent years, the LCP offenders begin at much earlier age and continues into the adolescent years. Researchers agreed with Dr. Moffitt that high-risk youth can be identified at an early age with great accuracy (Dodge Pettit, 2003; Hill, Lochman, Coie, Greenberg, 2004; Lochman Conduct Problems Prevention Research Group, 1995). But an important factor to note, is that they begin to parallel influence/cause during his/her adolescent years of delinquency. It is not enough to simply review statistics or parental accounts because it may confuse anyone trying to identify the two types of offenders (Moffitt, Caspi, Dickson, Silva, Stanton, 1996). Since Dr. Moffitt first standardized her developmental theory, she also brought forth the significance of many different but interwoven variables including: genetics, social pressure, observation, and parental nurturing (Moffitt et al, 1993, 1996; Moffitt, 1995, 2005). Another comparable theory also contends that younger offenders are at greater risk of more serious criminal offending (Gerald Patterson 1982, 1986). This (Coercion Developmental) theory cites parental involvement as major factor in psychosocial related delinquency. In addition, negative transitions or inconsistent monitoring of the child will contribute to the onset of delinquency (Brennan et al. , 2003; Patterson, 1982). A child may use temperamental actions to gain control. This behavioral pattern continues until the adolescent develops a consistent interpersonal approach of coercion. Whatever the root cause of delinquency, finality comes in the form of treatment or incarceration. However, more restraining measures for the serious offender- out-of-home treatment or incarceration- are not as effective and are extremely expensive (Henggeler, 1996). Indeed, data show that incarceration may not even serve a community protection function (Henggeler 1996, p. 139). † One theory is that prevention programs or treatment that only focuses on one risk factor â€Å"is unlikely to lead to long-lasting change in delinquency because multiple other forces act to support anti- social development (Dodge Pettit, 2003). † Alternately, selective pre vention (or incarceration) is designed to corral these â€Å"at risk† youth. The principle with selective prevention/incarceration is that ‘an ounce of prevention is worth a pound of cure. The programs may range from family involvement to exterior intervention; regimented treatment to outdoor activities. However, it is important to begin the selective prevention/incarceration early in the child’s life and cross-examine multiple influential factors. Then, continue the same preventive measures to ensure new influences do not create new risks (Tremblay and Craig, 1995; Dodge Pettit, 2003). Dr Moffitt encourages programs designed at identifying the â€Å"at risk† youth before defining the subsequent delinquency. A similar theory involving multiple planes of identification is multi-systemic therapy (Henggeler Borduin, 1990; Henggeler, Melton, Smith, 1992; Scherer, Brondino, Henggeler, Melton, Hanley, 1994). When interpreting this therapy approach, multiple major factors come into play- school, family, counselors. Based on Dr. Moffitt’s developmental theories and mindset, I believe that she would have the same opinion of some researchers- utilize every social and genetic variable and create selective prevention/incarceration as a (best practice) approach to early detection of potential delinquency. In my freshman opinion, I feel that it requires a multitude of data to determine exact cause and effect. If you combine the following: National Crime Victimization Survey; broad-spectrum interviews of delinquents; Census interviews; marital patterns; religious or faith data; medical-intervention records; and psychosocial observation in the form of treatment, one may be able to create a better understanding in the patterns of delinquency. Unfortunately, research-to-date is small in comparison to the magnitude of influence. The relationship between parenting (disciplinary practice) and family (background) with delinquency is far too in-depth for a few hundred words to define. Parental styles, genetics, social interaction, socio-economic factors, religion, academic standards- the list goes on, and on- all factor into the potential to become an offender. Simply stated, exposure is the common denominator. While many factors can be a major, let us first address parental styles. There are four types of parental styles: authoritarian; permissive; authoritative; and neglecting (Diana Baumrind 1991a). While one parent chooses to control child’s life, another parent may be permissive and render no control. Even as a parent tries to be rational and reasonable, a different style is neglecting and detached from the child. Alone, no style is without imperfections. Other factors combine with the parenting style to create a more complex behavioral pattern. Coercive, easier methods of parenting require less administrative energy when compared with a style that emphasizes emotional interaction and patience. A pattern of too much corporal punishment to maintain control promotes a negative self-concept in the child or may carry the cycle of violence to another victim. Nonetheless, it is not easy to assume which styles provide more â€Å"at risk† factors than others without additional rationale. Parental practices that involve consistent interaction are additional strategies employed by some. A child may be pushed to achieve specific academic, social, or athletic goals across different contexts and situations (Hart, Nelson, Robinson, Olsen, McNeilly-Choque, 1998). A child may receive monetary gratuity designed to teach him/her to manage money. Some children thrive in other event-specific interaction- reading, attendance to sports or arts events, or giving time to school rooms and/or activities. Herein, lies factors that produce the advent of self-esteem and results may vary. Studies also reveal that observation has a responsive affect and often leads to social competence, peer acceptance, and less antisocial behavior (Hart et al. ,1998). An inviting parent that elevates care and affection or one that encourages higher educational are examples of styles hat promotes rather than demotes development. Secondly, a child’s socio-economic situation may hinder development into a non-offender. While the parent can deter negative behavior and reinforce positive outlook, the child may nevertheless fall prey to social environmental factors. Observation of deviant behaviors may possibly encourage the same. The nation’s economic crisis of 2009 resulted in many parents assuming second jobs- such as low-paying part-time work on weekends- to keep the family financially afloat (Bartol, 2008, 2011). This may necessitate â€Å"juggling† child care duties among day-care centers, relatives, babysitters, and neighbors. Likewise, caregiver styles and practices can escalate negative results. The early relationship between an infant and a caregiver largely determines the quality of social relationships later in life (Bowlby, 1969). Similar to the notion that â€Å"it takes a village to raise a child,† interaction with perceived models of authority and care can mold a child into positive results or into patterned delinquency. In addition, impoverished parents (or family), may create internal stresses and possibly abuse- both physical and mental. Further, the child’s development may digress into inadequate social, self-regulation, or temperament skill sets. Stress caused by poverty in urban settings is believed to diminish parents’ capacity for supportive and consistent parenting (Dodge, Greenberg, Malone, and Conduct Problems Prevention Research Group, 2008; Hammond Yung, 1994). If anti-social peers reject someone who is already struggling, then there may be a compounded risk factor. As Terrie Moffitt (2005) provided, we know certain risk factors are closely linked to delinquency and criminal behavior, but how or why they are linked is largely unknown. Thirdly, depending on the definition of â€Å"family,† the structure necessitates the parenting style. It is estimated that over 12 million American families with children are maintained by only one parent (U. S. Bureau of the Census, 2001). Early studies based on official data found that delinquents were more likely than non delinquents to come from homes where parents were divorced r separated (Eaton Polk, 1961; Glueck Glueck, 1950; Monahan, 1957; Rodman Grams, 1967). This led to conclusions that the single-parent home- or the â€Å"broken home† as it was called- could be blamed for much delinquency and thus could be considered a risk factor (Bartol, 2011). More recently, researchers examine associated factors such as the quality of the relationship, economic status, and levels of emotional suppo rt provided to the family by other modeling adults- extended family members or community agents. However, there is definitive results that single-parent homes that are conflict-free produce children from that are less likely to be delinquent than those shaped in highly conflicted, but â€Å"intact† homes (Gove Crutchfield, 1982). A family of different origin, has become a normal part of today’s society. Many researchers agree to also define a family as persons related by blood or by legal arrangements- adoptions, legal guardianships, civil unions. Researchers also point out that long-term committed relationships- either as friends or as sexual partners- are also considered as family. No matter the style of the living arrangement, blood-relative, or single-parent family, the structure becomes the focal point. As Flynn (1983, p. 13) asserts, â€Å"One point is indisputably clear in the literature: A stable, secure, and mutually supportive family is exceedingly important in delinquency prevention. † Parental alcoholism elevates risk for a variety of negative child outcomes, including behavioral difficulties, antisocial behavior, and subsequent alcoholism (Loukas, Zucker, Fitzgerald, Krull, 2003; Zucker et al. , 2000). Interestingly, Loukas and her colleagues (2003) found that the presence of paternal alcoholism in the family may be more important than maternal alcoholism in contributing to a son’s antisocial behavior and maladjustment. The aggressive behavior that is demonstrated in domestic violence is clearly a form of parental psychopathology. Lastly, related to parental styles is the parental supervision or monitoring of children. In parental monitoring, â€Å"refers to parents’ awareness of their child’s peer associates, free-time activities, and physical whereabouts, when outside the home† (Snyder Patterson, 1987, pp. 25–26). Just as a â€Å"structured† or â€Å"broken† home dictates, so too is the amount and quality of parental monitoring is influenced by a number of things- divorce, finances, job loss, parental psychological disorders, substance abuse, or death. Monitoring appears to be especially important from about age nine to mid-adoles cence, an observation that has received substantial support from several studies (Laird, Pettit, Bates, Dodge, 2003). Will a Substantially-Recruited High School Football Player Alter His Tackling Style By Observing His Favorite NFL Player Doing the Same? In recent months, the National Football League (NFL) has mandated various penalties to players for purposely making violent tackles on unsuspecting opposing players. The penalties were usually a monetary fine imposed; growing by each offense. However, the rash of career-ending and life-threatening injuries was not subsiding. In fact, Rodney Harrison, a former NFL player and NBC Analyst who was penalized for illegal hits at several points in his career was quoted, â€Å"that the NFL has to do more than fine offenders if it really wants to change the big-hitting culture.. Harrison further added, Ive had plenty of hits like this and fining me $5 or $10 grand really didnt affect me. But I got to a point where they suspended me and I knew the effect on my teammates, the disappointment of me not being out there; not the $100,000 that got taken away from me, but the fact that I wasnt out there. Thats what they are going to have to do if they want to change the nature of these hits. You hav e to suspend guys. † The NFL is currently utilizing other methods of penalty- suspension- as a method of deterrence. Will a substantially-recruited high school football player model himself and alter his tackling style by simply observing his favorite NFL player doing the same? If not, what if he met both the victim of a violent tackle and the offender? The independent variables are equally the favorite NFL players that give violent hits, and ones that received violent (and injury resultant) hits. The dependent variables are talented defensive players (decisions) about to leave high school and are being heavily recruited into college. Both Ordinal and Ratio data will be collected. To determine a level of persuasion, Ordinal data will be necessary (influenced more severe tackling, same/unchanged tackling; influenced less severe tackling); for both observation from afar, and actual/perceived interaction with victim and offender. Ratio data will be collected to determine the percentages of players that felt their respective play (influenced/uninfluenced) somehow altered their ability to be recruited. The hypothetical result is to segment how violence may be altered when measured through observation of others and through social interaction with participants. This may be able to translate how offenders may be able to recant their violent tendencies if a â€Å"role model† also recants. Operant conditioning is fundamental to some criminal behavior. It is present in all humans and probably less-focused as a pre-cursor to progressive criminal behavior. Do this, get response; do that, get a different response. Now, which response was â€Å"better or worse† in the offender’s opinion? And, if for the worse, how bad and is the offender prepared? Unfortunately, smaller crimes or even lawful activities can often lead to greater severity of deviant behavior. For instance, a male interprets the â€Å"mixed† sexual signals of a female during intercourse as â€Å"okay† this time. In fact, without knowing, is reinforcing the mixed signal by continually giving positive overall feedback without focusing on the things that are not okay. Then, the male continues this activity(s) to other partners until someone finally signals the behavior as improper or deviant. The reaction up to this point may not replicate the reaction in the instant- rejection. The eventual offender reacts in an emotional manner now considered criminal- an aggravated assault. Somewhere the operant conditioning has misaligned the offender to think that it was always â€Å"okay. † Now, it is not okay and the offender is not prepared for the response. On another angle, the victim is married to the offender. He/she has typically submitted to the behaviors and finally decides the behavior to be deviant. He/she has continually obliged due to conditioned reasons and pre-conceived consequences. Hopefully, the offender will see the reasoning, understand, and agree to dismiss harmful aggression. However, he/she may not and now operant conditioning is present for both sides. Sutherland’s (1939) position of differential association theory centers a neutrality of initial human behavior. The criminal tendency is learned through association with other, â€Å"bad company. † Likewise, good behavior can be attributed to the association with positive influences of other’s actions. Over the course of observation of others within a group, a subject is more likely to duplicate the consensus of behavior- good or bad. This is due, in part, to the conceived definition of what may be right or wrong because others are doing the same. While a valued approach, this theory did not break down the types of learning from other’s actions. By simply boiler-plating that all will do as the majority does, leaves many influences on the table. Differential Association-Reinforcement (DAR) theory gives greater detail into the interactions with others. In especially deviant behaviors, a subject would also need to observe other factors- strength, frequency, reinforcements (positive and negative) all packaged in a stimuli. In other words, a subject may run with a â€Å"bad company,† but if they receive other positive reinforcements for other aspects, then he/she is not pre-destined to become deviant. The physiological factors associated with aggression have great range- from genetics that some researchers parallel with animal instincts to cognitive reasoning for choosing how to deal with the aggression. The genetic and animal approach can easily be identified by observation of humans. Humans can be territorially aggressive in protection mode, as well as, in social matters. This trait is â€Å"built-in† through years of development and remains unchanged. I believe it may also be defined as impulsive- stimuli will invoke a reaction. However, humans have also developed a â€Å"knack† for deciding what is, or is not, appropriate behavior. Through social interaction and learned behaviors, humans as a whole can discern if aggression is necessary and to what level it should or should not be levied. Equally important is the ability to observe punishment and negative consequences in order to draw conclusion on appropriate (aggressive) behavior. Medicinal and medically-invasive measure may also be taken in order to subside aggressions. Later it was proposed (Zillmann, 1988) that arousal carries substantial weight in factoring situational aggression. These factors may include sexual, negative excitement, or other stimuli that combine to create an aggressive behavior. Pre-existing conditions can intertwine with real-time observations and carryout immediate aggression. Other recent researchers add that skill-sets and gender help determine the aggressor’s initial reaction. Once the arousal is recognized, the person may react with reflexive response and/or cognitively think before reacting. The research is varied when relying on simple factors such as, driving (road rage), video games, and peer rejection. Social observation (socialization) also factors into the potential aggressor’s reaction. Therein, I believe genders have an internal â€Å"triage† that quickly determines the most valuable return on behavioral investment. In addition, if aggression becomes favor with the person, he/she must then determine the types of overt aggression are pointed threats of bodily harm, physical assault, rape, murder, or road rage and can be linked to childhood tendencies of similar behaviors. Covert aggression is indirect and most often, unders of covert aggression are passive-aggressive exchanges, disguised theft or fraud, internet or electronic hassle. Social and aggressive behavior is managed largely through daily experiences by cognitive scripts. â€Å"A script suggests what events are to happen in the environment, how the person should behave in response to these events, and what the likely outcome of those behaviors would be†(Huesmann, 1988, p. 15). Scripts may be learned through direct experience or observing significant others (Bushman Anderson, 2001). Once learned and established, the script is usually adhered becomes resistant to change into adulthood. However, each script is different and unique to each person, and to become established must be practiced from time to time (Bartol, 2011) Furthermore, an important role in determining which scripts are stored in memory is the â€Å"evaluation of the appropriateness. † (Huesmann, 1988, p. 19). Conflicting scripts that intrude someone’s personal standards are unlikely to be stored or utilized. According to Blackman, chronic criminality can be understood as â€Å"an attempt to maintain status or mastery of a social environment from which they feel alienated† (1998, p. 174). The well-rehearsed cognitive script of persistent, lifelong offenders, therefore, is to dominate- often in a hostile manner- social environments they perceive as hostile. The other model has been developed by Kenneth Dodge and his colleagues (Dodge, 1986; Dodge Coie,1987), and is called the hostile attribution model. Insomuch, there is a bias because youth (and adults) prone toward violence are more likely to interpret unsuspecting actions as hostile and threatening than are their less aggressive counterparts (Dodge, 1993b). People described as having hostile attribution bias â€Å"tend to view the world through blood-red tinted glasses. † (Dill, Anderson, Anderson, Deuser, 1997). Children with a hostile attribution bias are much more likely than the average child to misinterpret actions from others as aggression (Hubbard et al. , 2001). Also, the bias is present in both boys and girls (Vitale, Newman, Serin, Bolt, 2005). Similarly, Serin and Preston (2001, p. 259) conclude, â€Å"Aggressive juvenile offenders have been found to be deficient in social problems of reactive aggression include: anger expressions; temper tantrums; and vengeful hostility- â€Å"hot-blooded† aggressive acts. Reactive aggression appears to be a reaction to frustration and is associated with a lack of control due to high states of arousal. In general, reactive aggression is a hostile act displayed in response to a perceived threat or provocation. However, proactive aggression includes: bullying; domination; teasing; name-calling; and coercive acts- more â€Å"cold-blooded† aggressive actions. (Dodge, et al. 1997). In difference, proactive aggression is less emotional, and hopeful of rewards. In theory, the basis of proactive aggression is found in social learning that is controlled and maintained by reinforcement.

Production and Growth Essay Example | Topics and Well Written Essays - 1250 words

Production and Growth - Essay Example On the other hand, explaining differences relating to growth and productivity among countries around the world required significant understanding of their determinants. It also important to note that, growth rates among different countries around the world are not constant; in fact, they are highly dynamic (Zhihua and Kai, 4). Moreover, countries that are considered poor are not destined to a state of poverty; for instance, countries such as Singapore had low incomes during 1960, but currently her incomes have significantly increased. Therefore, economic stability of a country is not taken for granted since; there are increased chances of being overtaken by other poorer countries that are growing more rapidly. FACTORS AFFECTING PRODUCTIVITY AND GROWTH GDP and income in a country increases due to workers’ productivity, thereby leading to increased living standards for the citizens. Productivity and growth rate in a given country is also facilitated by technological knowledge si nce it enhances the production process. Furthermore, in order to understand productivity and growth in a country, human capital is understood based on perspective through which people contribute to expansion of knowledge acquired in the field of production. Furthermore, there is need to understand policies, which influence determinants of growth in a country. Some of these growth determinants include international trade, health, nutrition, health, property rights and political instability and others; In fact, it is also vital to understand investment, savings and the policies that affect them. Output per unit labor is also one of the major determinants of living standards among citizens in a country. Therefore, the discussion in this paper focuses on comparing productivity in different countries depending on physical and human capital per worker, and natural resources. Moreover, evaluation of growth among different countries is based in technological advancement, which improves livi ng standards. INCOMES AND GROWTH AROUND THE WORLD Rates of growth among countries across the world are highly dynamic due to numerous underlying factors. Therefore, numerous changes occur over a period of time, whereby poor countries acquire chances of improving their productivity and growth to an extent of surpassing other countries. On the other hand, decisions made by various political actors in a given country can affect their growth negatively or positively; thus, leading to decline or increase of productivity. The graphs below show GDP per captial during 2009 and growth rate from 1970 up to 2009 for different countries in order to compare their growth and productivity rates. DETERMINANTS OF PRODUCTIVITY Physical Capital per worker (K/L) In any country, the physical capital refers to the tools and machinery used for production and infrastructure such as roads and ports, which facilitates mobilization of factors of production. In fact, physical capital is an attribute of growth and productivity in a given country since it is applied in production of output. However, there is a profound difference between physical capital and technology since it constrained, thereby being used by particular workers. In this case, productivity and growth is caused by substantial difference in physical capital between developed and developing countries. For instance, a survey conducted in 2000

Introduction to film studies Essay Example | Topics and Well Written Essays - 1000 words - 1

Introduction to film studies - Essay Example uelle Seinger is about a book dealer whose primary aim is to make money and who is hired by a wealthy book collector to track down a particular book called ‘The Ninth Gate’. The book dealer is also supposed to authenticate the book. Only one of the three copies of this book exists in the world and the wealthy collector is very keen on getting hold of this book, as he believes that this book will be able to conquer evil. The opening sequence of the film is very arresting and the focus shall be on that particular sequence while analyzing the mise en scene. The director begins the film by taking a wide shot of an old man shown sitting in a room and writing a note at his desk. Then the camera slowly moves towards a small chair focussing on it for about thirty seconds before panning straight to the top of the ceiling where a rope is shown hanging from a chandelier. While the camera is zooming on this sequence, the background music and the sound of a clock ticking away build up the suspense and makes the audience is filled with an ominous feeling that something terrible is going to happen. The director then skilfully cuts the camera from the rope on the chandelier to a medium shot of the old man where it stays on him showing him stopping his writing and then folding the sheet of paper. The atmosphere of suspense is reaching a crescendo as the camera again suddenly cuts from this shot to follow the old man’s legs while he is walking towards the chair. Because of the skilful placement of the camera and shot angles, the audience has already got an inkling of what’s going to happen but the music and the camera shots keep the suspense building till it reaches the man climbing onto the chair, putting his head through the rope and tightening it and then quickly pushing away the chair. As the chair falls down on the second try, the audien ce can see the man’s feet trembling and the sound of the broken neck along with the background score heightens the drama in the

Counterstereotype Essay Example for Free

Counterstereotype Essay Stereotypes are so prevalent in our everyday lives that people don’t even realize that they are making racist comments. They are so use to making these comments in their own inner circles, that they don’t even realize how detrimental they can be outside of their circle. Stereotypes affect people’s social lives, emotions, and how people interact with their environment. Stereotypes, prejudice and discrimination are known to be related but having different concepts. Stereotypes are regarded as the most cognitive component, prejudice as the affective and discrimination as the behavioural component of prejudicial reactions. That slight pause in the processing of a stereotype gives conscious, unprejudiced beliefs a chance to take over. With time, the tendency to prevent automatic stereotyping may itself become automatic. Past studies have shown that people perform poorly in situations where they feel they are being stereotyped. Are there lingering effects of prejudice? Does being stereotyped have an impact beyond the moment when stereotyping happens? Stereotypes have an enormous impact of how we feel. It affects people’s social lives, emotions, and how people interact with their environment. Regarding the quote, â€Å"If you prick us, do we not bleed? If you tickle us, do we not laugh? If you poison us, do we not die? And if you wrong us, shall we not revenge? From The Merchant of Venice by Shakespeare, even after a person leaves a situation where they faced negative stereotypes, the effects of coping with that situation remain. People are more likely to be aggressive after theyve faced prejudice in a given situation. They are more likely to exhibit a lack of self-control. They have trouble making good, rational decisions and are more likely to over-indulge on unhealthy foods. These days’ people are afraid to be themselves, because they fear other people. They don’t want people to think something bad for them. Secrets, thoughts, and ideas, are all held down. Stereotypes can be an obstacle as to how open you are with people and how you make people feel when you are with them. Instead of focusing on all the mistakes of each person, we should start paying more attention of how unique each person is. Stereotype causes people to feel lonely and even sometimes depressed. It’s also harmful for their environment and their social life. We should keep stereotypes out of the picture, even though sometimes we can be victims ourselves. The study of culture may someday tell us where the seeds of prejudice originated; for now, the study of the unconscious shows us just how deeply theyre planted.

Red Badge of Courage Essay: Battle for Adulthood :: Red Badge Courage Essays

A Battle for Adulthood in Red Badge of Courage    Throughout the novel, The Red Badge of Courage, written by Stephen Crane, a theme is portrayed within a battle that takes place during the Civil War. It is that each person must find the courage to win his or her won battle for maturity or adulthood. A soldier, who is also the main character, Henry Fleming, exemplifies this theme.    Henry Fleming begins as an immature soldier who enlists in the army without knowing a reason why. Henry has a romantic view of the war, and expects it to be glorious: â€Å"They [battles] might not be distinctly Homeric, but there seemed to be much glory in them. He [Henry] had read of marches, sieges, conflicts, and he had longed to see it all.† Henry obviously lacks maturity because he was very determined to enlist in the army, but tries to blame the government for being at war.    Henry starts to realize that there are no heroes and that there are no individuals: â€Å"He had grown to regard himself merely as a part of a vast blue demonstration.† Therefore he is beginning to fight the battle within himself into adulthood. Henry looses some of his selfishness and gains concern for others, another stepping stone: â€Å"He felt the subtle battle brotherhood more potent even than the cause for which he was fighting.† Henry deserts a dying soldier and runs from a battle, but recognizes that running away was wrong. It isn’t a mature action, but he is mature to realize the magnitude of running.    With the knowledge of his past mistakes, Henry goes into battle without thinking about the past and fights heroically. After a general makes a derogatory remark about Henry and his comrades, it reveals Henry’s change of attitude. He accepts the comment without rebellion and fights with courage. Because of the success of fighting bravely, Henry has the self-esteem to deal with his mistakes as an adult. As a mature person he can learn from his mistakes.

Challenges of Money Market Mkt in India Essay

The India money market is a monetary system that involves the lending and borrowing of short-term funds. India money market has seen exponential growth just after the globalization initiative in 1991. It has been observed that financial institutions do employ money market instruments for financing short-term monetary requirements of various sectors such as agriculture, finance and manufacturing. The performance of the India money market has been outstanding in the past 20 years. The central bank of the country – the Reserve Bank of India (RBI) has always been playing the major role in regulating and controlling the India money market. The intervention of RBI is varied – curbing crisis situations by reducing the cash reserve ratio (CRR) or infusing more money in the economy. Money market instruments take care of the borrowers’ short-term needs and render the required liquidity to the lenders. The varied types of India money market instruments are treasury bills, repurchase agreements, commercial papers, certificate of deposit, and bankers acceptance. The major players in the money market are Reserve Bank of India (RBI), Discount and finance House of India (DFHI), banks, financial institutions, mutual funds, government and the giant corporate houses. Indian money market has a dichotomic structure. It has a simultaneous existence of both organized and unorganized money markets. The organized structure consists of the RBI , all scheduled and commercial banks and other recognized financial institutions as mentioned above. However, the unorganized part of the market consists of local moneylenders, indigenous bankers, traders, etc. This part of the market is outside the purview of the RBI. Issues and challenges of the Indian money market The money market in India has undergone tremendous developments since past twenty years. However, it is still not free of certain rigidities that are hampering the growth of the market. They are: 1. Dichotomy between Organized and Unorganized Sectors: The most important defect of the Indian money market is its division into two sectors: (a) the organised sector and (b) the unorganized sector. There is little contact, coordination and cooperation between the two sectors. In such conditions it is difficult for the Reserve Bank to ensure uniform and effective implementations of monetary policy in both the sectors. 2. Predominance of Unorganized Sector: Another important defect of the Indian money market is its predominance of unorganised sector. The indigenous bankers occupy a significant position in the money-lending business in the rural areas. In this unorganized sector, no clear-cut distinction is made between short-term and long-term and between the purposes of loans. These indigenous bankers, which constitute a large portion of the money market, remain outside the organized sector. Therefore, they seriously restrict the Reserve Bank’s control over the money market, 3. Wasteful Competition: Wasteful competition exists not only between the organised and unorganised sectors, but also among the members of the two sectors. The relation between various segments of the money market are not cordial; they are loosely connected with each other and generally follow separatist tendencies. For example, even today, the State Bank of Indian and other commercial banks look down upon each other as rivals. Similarly, competition exists between the Indian commercial banks and foreign banks. 4. Absence of All-India Money Market: Indian money market has not been organised into a single integrated all-Indian market. It is divided into small segments mostly catering to the local financial needs. For example, there is little contact between the money markets in the bigger cities, like, Bombay, Madras, and Calcutta and those in smaller towns. 5. Inadequate Banking Facilities: Indian money market is inadequate to meet the financial need of the economy. Although there has been rapid expansion of bank branches in recent years particularly after the nationalization of banks, yet vast rural areas still exist without banking facilities. As compared to the size and population of the country, the banking institutions are not enough. 6. Shortage of Capital: Indian money market generally suffers from the shortage of capital funds. The availability of capital in the money market is insufficient to meet the needs of industry and trade in the country. The main reasons for the shortage of capital are: (a) low saving capacity of the people; (b) inadequate banking facilities, particularly in the rural areas; and (c) undeveloped banking habits among the people. 7. Seasonal Shortage of Funds: A Major drawback of the Indian money market is the seasonal stringency of credit and higher interest rates during a part of the year. Such a shortage invariably appears during the busy months from November to June when there is excess demand for credit for carrying on the harvesting and marketing operations in agriculture. As a result, the interest rates rise in this period. On the contrary, during the slack season, from July to October, the demand for credit and the rate of interest decline sharply. 8. Diversity of Interest Rates: Another defect of Indian money market is the multiplicity and disparity of interest rates. In 1931, the Central Banking Enquiry Committee wrote: â€Å"The fact that a call rate of 3/4 per cent, a hundi rate of 3 per cent, a bank rate of 4 per cent, a bazar rate of small traders of 6.25 per cent and a Calcutta bazar rate for bills of small trader of 10 per cent can exist simultaneously indicates an extraordinary sluggishness of the movement of credit between various markets.† The interest rates also differ in various centres like Bombay, Calcutta, etc. Variations in the interest rate structure is largely due to the credit immobility because of inadequate, costly and time-consuming means of transferring money. Disparities in the interest rates adversely affect the smooth and effective functioning of the money market. 9. Absence of Bill Market: The existence of a well-organized bill market is essential for the proper and efficient working of money market. Unfortunately, in spite of the serious efforts made by the Reserve Bank of India, the bill market in India has not yet been fully developed. The short-term bills form a much smaller proportion of the bank finance in India as compared to that in the advanced countries. Many factors are responsible for the underdeveloped bill market in India: * Most of the commercial transactions are made in terms of cash. * Cash credit is the main form of borrowing from the banks. Cash credit is given by the banks against the security of commodities. No bills are involved in this type of credit. * The practice of advancing loans by the sellers also limits the use of bills. * Heavy stamp duty discourages the use of exchange bills. * Absence of acceptance houses is another factor responsible for the underdevelopment of bill market in India. * In their desire to ensure greater liquidity and public confidence, the Indian banks prefer to invest their funds in first class government securities than in exchange bills. * The RBI also prefers to extend rediscounting facility to the commercial banks against approved securities. Comparison of Indian money market with Developed & Developing economies MONEY MARKET IN A DEVELOPED ECONOMY (with the US in reference) The domestic money market in the United States carries out the largest volume of transactions of any such market in the world; its participants include the most heterogeneous group of financial and nonfinancial concerns to be found in any money market; it permits trading in an unusually wide variety of money substitutes; and it is less centralized geographically than the money market of any other country. Although there has always been a clustering of money market activities in New York City and much of the country’s participation in the international money market centers there, a process of continuous change during the 20th century has produced a genuinely national money market. The unit banking system: This system has led inevitably to striking differences between money market arrangements in the United States and those of other countries. At times, some smaller banks almost inevitably find that the wholesale facilities of the money market cannot provide promptly the funds needed to meet unexpected reserve drains, as deposits move about the country from one bank to another. MONEY MARKET IN DEVELOPING COUNTRIES Well-developed money markets exist in only a few high-income countries. In other countries money markets are narrow, poorly integrated, and in many cases virtually nonexistent. Despite the many differences among countries, one can say in general that the degree of development of a country’s financial system, including its money markets, is directly related to the level of its economy. Most developing countries, except those having socialist systems, have the encouragement of money markets as a policy objective, if only to provide outlets for short-term government securities. At the same time many of these governments pursue low-interest-rate policies in order to reduce the cost of government debt and to encourage investment. Such policies discourage saving and make money market instruments unattractive. Nevertheless, a demand for short-term funds and a supply of them exist in all market-oriented economies. In many developing countries these pressures have led to â€Å"unorganized money markets,† which are often highly developed in urban areas Such markets are unorganized because they are outside â€Å"normal† financial institutions; they manage to escape government controls over interest rates; but at the same time they do not function very effectively because interest rates are high and contacts between localities and among borrowers and lenders are limited. Money Market Instruments in India: 1. COMMERCIAL PAPERS (CPs) : Commercial Paper (CP) is a negotiable short-term unsecured promissory note with fixed maturity, issued by well-rated companies generally sold on discount basis. It does not originate from any specific self-liquidating trade transaction like commercial bill which generally arise out of specific trade or commercial transaction. CP was introduced in India in 1990 with a view to enabling highly rated corporate borrowers to diversify their sources of short-term borrowings and to provide an additional instrument to investors. The CP rates usually lie between prime lending rate of commercial banks and some benchmark interest rate like 91-day Treasury bill rate, bank rate, 3 month MIBOR, Average Call Money Rate, etc. Except for the bank rate, which is a policy- induced rate, other rates are market determined. Risks associated with Cps: Credit Risk: Moderate to high. The ratings of the company issuing the commercial paper should be monitored; i.e., A-1/P-1. Liquidity Risk: Moderate. If a company has credit problems it may receive a negative credit watch, which will lead to a rating being downgraded. Commercial paper also may be somewhat difficult to sell. Market Risk: Moderate, due to the short-term nature of this security. CHALLENEGES ASSOCIATED WITH CPs: * Higher financial costs force organizational decisions and changes * Substantial initial collateral requirements * More risky as debt holders can force closure of MFI * More tricky cash flow management as principal is repaid * Early negotiations require a new set of skills and contacts * Local banks may not be willing to be cooperative * Loans may be dollarized in an inflationary situation * Too many subsidized loans can retard move to market rate 2. CERTIFICATE OF DEPOSITS (CDs) : This scheme was introduced in July 1989, to enable the banking system to mobilize bulk deposits from the market, which they can have at competitive rates of interest. The major features are:   Who can issue- Scheduled commercial banks (except RRBs) and All India Financial Institutions within their `Umbrella limit’. Investors- Individuals (other than minors), corporations, companies, trusts, funds, associations etc Maturity -Min: 7 days Max : 12 Months (in case of FIs minimum 1 year and maximum 3 years). Amount- Min: Rs.1 lac, beyond which in multiple of Rs.1 lac Interest Rate- Market related. Fixed or floating Loan- Against collateral of CD not permitted Pre-mature cancellation- Not allowed Transfer, Endorsement & delivery- Any time Other conditions †¢ If payment day is holiday, to be paid on next preceding business day †¢Issued at a discount to face value †¢Duplicate can be issued after giving a public notice & obtaining indemnity CHALLENGES ASSOCIATED WITH CDs: * No additions are permitted to be made to any CD. Unless otherwise required by law CDs may not be withdrawn prior to maturity. When one purchases a CD, he has to agree with the issuing depository institution to keep your funds on deposit for the term of the CD. * CDs are not automatically renewed * CDs are relatively illiquid and taxable instruments. Hence, generally people do not find an incentive to hold CDs. * One might not get a fixed interest rate if you choose the wrong type of CD. It’s important to understand the distinction between variable-rate CDs (which can be less predictable) and those that offer fixed rates. 3. TREASURY BILLS (T-BILLS) : Treasury bills, popularly known as T-bills, are short-term finance bills issued by the government. They are not backed by any trade transaction, like the commercial bills. These bills are highly liquid and risk-free as they are backed by a guarantee from the government. They were earlier issued for 91 days but now there are also 182 days and 364 days treasury bills. These treasury bills are floated through auctions conducted by RBI. The Reserve Bank of India as the leader and controller of money market, buys and sells these treasury bills. The buying and selling operations are conducted by DFHI on behalf of RBI for stabilizing the money market. Who can buy – Treasury bills can be purchased by any one (including individuals) except State govt. These are issued by RBI and sold through fortnightly or monthly auctions at varying discount rate depending upon the bids. Denomination – Minimum amount of face value Rs.1L and in multiples thereof. There is no specific amount/limit on the extent to which these can be issued or purchased. Maturity : 91-days TBs, 182-days TBs, 364-days TBs and two types of 14-days TBills. Rate of interest -Market determined, based on demand for and supply of funds in the money market. CHALLENGES ASSOCIATED WITH T-BILLS: * T-Bills do not fetch very attractive yields. * Though T-bills are sold through auction in order to ensure market rates for the investor, in actuality, competitive bids are almost absent. The RBI is compelled to accept these non-competitive bids , hence, adequate returns are not available. It makes T-bills unpopular. * Generally , the investors hold T-Bills till maturity and they do not come for circulation. Hence, active trading and mobility in T-bill market is adversely affected. 4. REPURCHASE AGREEMENT (REPO AND REVERSE REPO) : Repo is a money market instrument, which enables collateralized short term borrowing and lending through sale/purchase operations in debt instruments. Under a repo transaction, a holder of securities sells them to an investor with an agreement to repurchase at a predetermined date and rate. In the case of a repo, the forward clean price of the bonds is set in advance at a level which is different from the spot clean price by adjusting the difference between repo interest and coupon earned on the security. A reverse repo is the mirror image of a repo. For, in a reverse repo, securities are acquired with a simultaneous commitment to resell. Hence whether a transaction is a repo or a reverse repo is determined only in terms of who initiated the first leg of the transaction. When the reverse repurchase transaction matures, the counterparty returns the security to the entity concerned and receives its cash along with a profit spread. One factor which encourages an organization to enter into reverse repo is that it earns some extra income on its otherwise idle cash. Broadly, there are four types of repos available in the international market when classified with regard to maturity of underlying securities, pricing, term of repo etc. They comprise buy-sell back repo, classic repo bond borrowing and lending and tripartite repos. CHALLENGES ASSOCIATED WITH REPURCHASE AGREEMENTS: * As far as risks are concerned although repos are collateralized transactions they are still exposed to counterparty risk and the issuer risk associated with the collateral. As far as the counterparty risk is concerned, the investor should be able to liquidate the securities received as collateral, thus largely offsetting any loss. Against this the seller /lender of bonds will hold cash or other securities as protection against non-return of the lent securities. In both the cases it is to be ensured that the realizable value equals or exceeds the exposure. * There is also the concentration risk resulting from illiquid issues which are used as collateral in the transaction. * Again, even where global agreements are signed full transfer of ownership as per contractual protections could be enforced only where a clean legal opinion is available in respect of jurisdiction concerned. In other words, repos are also prone to legal risks if care is not taken. 5. MONEY MARKET MUTUAL FUNDS (MMMF): 6. COLLATERALIZED BORROWING AND LENDING OBLIGATION (CBLO) It is a money market instrument as approved by RBI, is a product developed by CCIL (Clearing Council of India Ltd) . CBLO is a discounted instrument available in electronic book entry form for the maturity period ranging from one day to 90 Days (can be made available up to one year as per RBI guidelines). CBLO is explained as under: †¢ An obligation by the borrower to return the money borrowed, at a specified future date; †¢ An authority to the lender to receive money lent, at a specified future date with an option/privilege to transfer the authority to another person for value received; †¢ An underlying charge on securities held in custody (with CCIL) for the amount borrowed/lent. Banks, financial institutions, primary dealers, mutual funds and co-operative banks, who are members of NDS, are allowed to participate in CBLO transactions. Non-NDS members like corporate, co-operative banks, NBFCs, Pension/Provident Funds, Trusts etc. are allowed to participate by obtaining Associate Membership to CBLO Segment. In order to enable the market participants to borrow and lend funds, CCIL provides the Dealing System through: – Indian Financial Network (INFINET), a closed user group to the Members of the Negotiated Dealing System (NDS) who maintain Current account with RBI. – Internet gateway for other entities who do not maintain Current account with RBI.