Friday, August 28, 2020

Oceanic Mythology Free Essays

Maritime Mythology Two traditional societies, Rome and Greece, both are notable to the world. Their folklore particularly, in light of the fact that components of their people stories shape current society. Yet, shouldn't something be said about folklore beginning in different pieces of the world? For what reason are Roman and Greek culture such significant wellsprings of legends? Apparently unfathomable stories from different locales of the earth gather rich culture that hasn’t diffused into current culture just as Greek culture yet give fascinating stories on human life. We will compose a custom article test on Maritime Mythology or on the other hand any comparative subject just for you Request Now In particular, in Oceanic districts, for example, Polynesia and Melanesia hold stories have een told for many ages that are practically obscure in Western culture (Wikipedia). It’s a crime that such fascinating stories of Oceanic life haven’t become essential to the remainder of the world, yet luckily in these islands they have significance. In Oceania, especially in the territory of Polynesia maritime individuals accepted that ‘Forever’, Darkness, and the Sea have consistently existed (Pantheon). â€Å"Scholars accept that people initially relocated to Polynesia from Southeast Asia around 2,000 years back. These individuals conveyed with them their legendary customs about occasions, gods, and heroes† (mythencyclopedia). Furthermore, in this way, a story of creation was concocted. The story begins with a mammoth Spider finding a monster shellfish, and slithering within it. It was incredibly dull within the shellfish, however the arachnid figured out how to discover a snail within the mollusk. The creepy crawly requested that the snail open the shell a piece, since it was so dim. The snail aired out the mouth of the mollusk, and it turned into the moon revealing some insight in the unadulterated dimness. Another snail came to enable the insect to push the highest point of the clam’s shell open further, and the sky was made, (and alluded to as goddess Rangi). The arachnid at that point pushed open on the base of the shell, and the earth was reated, (alluded to as a divine being, Papa). This is one rendition of the story that it told all through Oceania. The other rendition of this story tells that a ‘supreme god (Usually Po or 10) makes everything. The two forms anyway tell that Papa and Rangi make plants and creatures, and â€Å"Papa Earth was a goddess, and Rangi Sky, a divine being, sister and sibling. They lived together and delivered the primary predecessors of all mankind† (pantheon). Bit Yale In certain islands in Oceania, a story tells that the earth was made after a stone fell into the ocean, while different locales accept that a butterfly made earth from the ocean. The tales shift because of area. For example, in Tahitian folklore, the incomparable maker divinity was Ta’aroa who was conceived from a ‘cosmic egg’. He filled the world with all the animals and things that are currently found in it. A few Tahitians had confidence in Ta’aro giving preeminent wonders, yet likewise being reason horrible things occur on Most islands situated in Oceania nonetheless, base their folklore off of similar Gods. Haumia divine force of plants and vegetables, Tane lord of timberlands, Tu lord of war, Lono lord of sky, and Pele divine force of fire are Just a not many that reoccur since the commencement of Ocani’as folklore. (Mythencyclopedia). It is by all accounts an example that the human advancements close to the sea have creation fantasies all including the ocean. Similarly as zones with bunches of snow would have legends in regards to day off, places with heaps of trees would have stories about nature. Goddess, Rangi (ssqq) Moving onto various islands of Polynesia, the little islands of Samoa have numerous stories that give ethics and exercises to regular day to day existence, including ‘The Tree of Life’ (nzetc. ictoria. air conditioning. nz). The story follows a Samoan lady Leutogitupaitea who weds Mote-Yale the ruler of Tonga. The Tongan lord was recently hitched to a Tonagan lady, and they had a youngster together. The lords new spouse couldn't imagine, and in an e nvious fierceness killed the child. The lords Tongan spouse came to acknowledge what occurred, and later the ruler was educated. â€Å"The King on being educated regarding the incident arranged the individuals to assemble kindling and to consume the lady who had murdered his kid. He requested her to be put in the fork of a Fetau tree and the wood to be heaped high round the tree. This was done and the fire lit. The blazes climbed and the lady was going to be expended when a great many flying foxes flew ver the fire and peeing on it smothered the flares. The King at that point concluded that the woman’s life would be saved and he stated, â€Å"this tree will be known as the Fork of Life, for a woman’s life was saved money on it. † I give back the lady her life, yet she will be taken to a remote location and left there† (nzetc. victoria. air conditioning. nz) Another story told in Samoan culture is The Long Toothed Devil of Falelima. Individuals of Falelima, a little town in Samoa, recounted accounts of a ‘devil’ with long pointy teeth. The story tells that the fallen angel (Nifoloa) kicked the bucket and that his teeth kept on developing and ventually developed into the close to Island of Upolu. Individuals were obviously chomped by them as they kept on developing. The individuals all had unusual wounds that appeared to vanish inevitably. These individuals who were ‘bitten’ were alluded to as â€Å"Nifoloa† (nzetc. victoria. air conditioning. nz). Moreover, the individuals of Samoa recount to an anecdote about fire being brought to the islands. As per the ledged, there was a significant stretch of time in Soma’s history where there was no fire (stitch. passagen. se). Ti’eti’e, a stranded kid made the revelation of fire on the island within a cavern where the seismic tremor god, Mafui’e dwelled. He had found the fire while discovering Mafui’e broiling a hoard and taking some him, Ti’eti’e got a handle on him by the arm with such quality that it turned off! mLet me go! † he cried. â€Å"Let me go and I will give you my hundred spouses. â€Å"0 â€Å"l don’t need your wives,† Ti’eti’e reacted. l need some fire. Let me take it with me or I’ll wind your other arm â€Å"Take it! † addressed Mafui’e, surrendering. â€Å"If it goes out, you can revive it by scouring two bits of wood together. â€Å"‘ (fix. passagen. se) In the Far East locale of Polynesia, Easter Island harvests numerous riddles to the orld today. The i sland is practically halfway among Chile and Tahiti, and found to be for the most part made of volcanic stone (crystalinks). On the island, many stone sculptures/fgures (Moat) can be seen along the coastlines and in totally void land. The Moat figures are generally what individuals partner with Easter Island. The Rapa Nuis individuals (locals to the island) cut them a huge number of years back (wikipedia). The fgures were regularly cut to respect a divine being or predecessor, and they filled in as a superficial point of interest (wikipedia). â€Å"It was accepted that the living had a harmonious elationship with the dead where the dead given everything that the living required (wellbeing, fruitfulness of land and creatures, fortune and so on ) and the living through contributions gave the dead a superior spot in the soul world. (wikipedia) Easter Island Moat sculptures (deitchman) On the baffling area, the root of Easter Island is as far as anyone knows the Legend of Hotu Matua (crystalinks). As per the story, Hotu Matua was the main pioneer to Easter Island. Hotu Matua made a trip to the island on a kayak with a colonizing party and made the island his realm, with his children going before him (wikipedia). The island was governed for a long time by Matua’s relatives, until Dutch pioneers found the land in 1722 and asserted it for themselves, as white individuals generally do (wikipedia). There is impressive vulnerability about the precision of this legend just as the date of settlement. Distributed writing proposes the island was settled around 300-400 CE, or at about the hour of the appearance of the most punctual pilgrims in Hawaiim (wikipedia). To the extent divinities and lords of the Rapa Nuis’ culture, the most remarkable and unmistakable is the Make-Make god. â€Å"On Rapanui (Easter Island) individuals put stock in an ariety of god or à ¢â‚¬Ëœatua’, generally noticeable among the ‘atua’ was the Creator God, Make-the maker of life to the Rapa Nuis individuals. His supporters loved him through ocean fowls, since they accepted his spirit was resurrected into them (soothsaying. richardbrown). His image was a man with winged animal like highlights, and he can be seen cut into different Moat on the island. Make-make’s image cut onto volcanic stone in Easter Island. In Melanesia, Just north of New Zealand, the islands of Fiji were shaped through volcanic movement that started 150 million years back (wikipedia). â€Å"Oral narrating is an opular and significant leisure activity in Fiji that assists with keeping alive the fantasies from the old religion, just as legends about progressively current fgures in Fiji’s history’ (go-flJi). One of the most revealed to Fijian legend is their creation fantasy. A snake god, Degei had just a falcon as a companion. One day the bird of prey vanishes and Degei turns out to be desolate. He goes out in scan for his companion, and runs over her bird’s home. There were two relinquished eggs took off alone in the home, so Degei accepting them to raise as his own. Following quite a while of settling, the eggs at last incubated. To Degei’s shock, not two fledgling, yet two people rose up out of the eggs. Degei raised the people, developed vegetation so as to take care of them and disclosed to them stories that uncovered the idea of all things† (go-flJi). Afterward, while swimming in the sea Degei discovered a minuscule real estate parcel and made the town of Viseisei for the people. This is accepted to be the primary Fijian settlement. He at that point makes the encompassing islands of Viti Levu, where he despite everything stays in a cavern. Degei pause

Saturday, August 22, 2020

B-2 bomber :: essays research papers

WHAT IS THE B-2 BOMBER?      Stealth Aircraft, military airplane, warriors, and planes intended to evade identification and following frameworks, for example, radar and infrared checking. Covertness innovation is utilized to veil unmanned articles, for example, journey rockets. The United States is a world chief in creating and sending covertness innovation, albeit much about its program stays arranged.      Stealth innovation incorporates an assortment of configuration includes that influence an airplane signal, likewise called its mark, on following frameworks. These highlights incorporate an airplane shape and the materials used to assemble it. For instance, it is more earnestly for a radar to recognize an airplane that has smooth and adjusted bends. Exceptional composite materials or coatings on the outside of an airplane can ingest or divert radar signals. Motors put inside the body of the airplane and fumes vents might be orchestrated to cover the warmth originating from motors and help conceal an airplane from heat looking for sensors. Diminishing the commotion and vibrations created by secrecy airplane may likewise limit its acoustic mark. Likewise, covertness airplane are furnished with unique gadgets for smothering or befuddling adversary observing frameworks.      Since the utilization of radar during World War II (1939-1945), aviation based armed forces worldwide have attempted to create techniques for befuddling radar or making it ineffectual. Early endeavors at this incorporated the focused on airplane endeavoring to electronically stick radar or to discharge metallic strips to deliver bogus readings. In any case, in the 1950’s and 60’s, new electronic following techniques and the new waves formulated to confound them stayed up with each other, inciting military specialists to search for approaches to totally cover airplane.      American aeronautical designer Clarence L.

Friday, August 21, 2020

Bless Me Ultima Character Growth Essay Example For Students

Favor Me Ultima Character Growth Essay A Religious StruggleOnly a couple of books set out to examine the disarray encompassed by a strict arousing. In Bless Me Ultima, Richard A. Anaya, Premio Quinto Sol national Chicano artistic honor beneficiary, challenges standard religion and acquires various thoughts through the viewpoint of a youthful and confounded kid. Because of the new thoughts that he is acquainted with, the occasions that happens particularly passings, and his excitement for information all leads Antonio to scrutinize his strict convictions. Toward the finish of his battle to comprehend, the kid arrives at the true serenity he was looking for. All through the book Antonio is acquainted with numerous new thoughts. The first is the encounters he has with Ultima. Ultima is a healer who took in her methods from an old insightful man on the llano or prairie. She is in some cases called a bruja or witch. This befuddles Antonio in light of the fact that in his heart he realizes Ultima speaks to great and not the malevolent she is now and then accused for. Antonio learns a portion of the methods for Ultima and starts to comprehend his environmental factors. He knows the name of pretty much every plant and what therapeutic utilize every ha. As the novel proceeds there is a more grounded translation of Ultima’s controls as she recuperates Antonio’s Uncle Lucas. This is the start of good versus underhandedness or god versus the fiend, Lucas had seen Tenerio’s little girls performing demon venerate in the forested areas and consequently the girls set a revile on his hair. At the point when the revile was disavowed by Ultima it became effective against the little girls and as they dieed Tenerio went into a malicious wrath against the forces of Ultima. Antonio was then acquainted with the Golden Carp and the tale of the waters encompassing the town and its impact, which likewise permits Antonio to scrutinize the impact of god inside his life, and the new force behind the carp. The following disclosure for Antonio is the legend of the brilliant carp. Antonio finds out about the brilliant carp from Cico, a companion of his. As indicated by Cico, the brilliant carp was at one time a divine being who adored the individuals of Antonios town, Guadalupe. The individuals were not permitted to angle for the earthy colored carp that lived in the waterway that streamed around the town. These fish were holy to the divine beings. Be that as it may, as a result of a dry season and no nourishment, the individuals needed to eat the carp to endure. This irritated the divine beings. They needed to rebuff all th e individuals by death yet they yielded from executing the individuals. Rather, they transformed the individuals into carp and made them live everlastingly in the waters of the stream (80). The god who adored the individuals wished to turn into a carp like them to shield them from the risks of the waterway. The divine beings concurred and in light of the fact that he was a divine being they made him huge and hued him the shading gold (81). Antonio can't accept there is another god and looks for answers from Ultima. Ultima is satisfied that he has adapted so a lot, yet says she can't mention to him what to accept for he should choose for himself. The Golden Carp speaks to all the inquiries Tony has about religion and ethical quality. Tony’s disarray is because of clashing powers in both these parts of life. When Cico first acquaints the Carp with Tony, he is compelled to settle on an extreme choice, â€Å"Do you accept the Golden Carp is a god?† which he dexterously dod ges until he has the data he needs to settle on his choice (106). After the rise of the Carp, Tony starts to scrutinize his Catholic childhood, and he asks why God rebuffs individuals. This is when Tony starts to save his vision and really looses his otherworldly blamelessness. In the early piece of the novel Antonio as of now begins to start scrutinizing his relationship with God. The occasions that happens all through the novel particularly passings hugy affects the battles he has with his strict convictions. In section one Antonio steps toward his loss of blamelessness, â€Å"The earthy colored water would be recolored with blood, for all eternity and ever.† Lupito’s passing is the first occasion when that he is confronted with death, and starts his scrutinizing of God. This is when Antonio initially starts to have questions about his religion. Enternal nourishment in icu EssayEnglish Essays

Tuesday, May 26, 2020

Peacebuilding Scholarship Essay Sample - Helping You Get Through Your Essay

Peacebuilding Scholarship Essay Sample - Helping You Get Through Your EssayThere are many ways to enter into a career of peacebuilding, and many ways to pass a Peacebuilding Scholarship Essay Sample. If you are not happy with the choices, you can always look into your personal beliefs, or other factors that come into play. Some of these factors may include your ethnic heritage, your body type, your preferences, your individual likes and dislikes, your personal favorite foods, and many more.The first thing you must do when you are looking for a Peacebuilding Scholarship Essay Sample is to write your essay. If you have not written a formal essay in your life, do not be alarmed. Writing an essay does not mean that you have to be on top of your game. All you need to do is to spend some time every day, and write down a short and concise answer to your own question.You can learn from this sample, and it will help you help you answer questions. Also, if you wish to be more specific, you can put your question into more details. For example, if you had asked: 'What would be a perfect profession for someone who is passionate about peacebuilding?' and they answered: 'The position of peace ambassador is not only one of the most challenging positions in the world, but it also involves traveling around the world meeting and talking to people about the importance of peacebuilding.'At the very end of your essay, it would be best to have your personal passions that you had in mind to mention. Or, you can even put in your own interpretation, or what you think would happen if a war happens, or what would happen if you were one of the peacebuilding troops, and what would happen if you meet a group of people who will make your dream of being a peace ambassador a reality. Peacebuilding Scholarships Essay Sample is a good opportunity to put all of these ideas in your writing. Also, you can link your essay to any work that you have done, such as being a Peacebuilding volunteer in anot her country.If you want to include a picture of yourself or an actor, take it out of your essay. You can also include this in your curriculum vitae. In your curriculum vitae, you can include: A professor who has recommended that you apply for a Peacebuilding Scholarship Essay Sample, or a friend who has recommended that you apply for a Peacebuilding Scholarship Essay Sample. It can help to show the letter that was accepted to college to your friend or family members, if you already have one. It will also help you gain a lot of friends who may become your potential mentors.Take into consideration the fact that you will have to be online in a few days or weeks to write this sample. What you can do is to write an e-mail to yourself saying: I am working on my Peacebuilding Scholarship Essay Sample and thinking of submitting this to college. You can also include some information about yourself and how you met. This will help you get through the essay without too much difficulty.Peacebuil ding Scholarship Essay Sample will help you get through the essay. Moreover, you can learn from this sample, and the answers will help you become a better writer, a better communicator, and a better human being.

Saturday, May 16, 2020

Han Dynasty and Augustus Caesar’s Roman Empire - 1007 Words

In the forty years of Augustus Caesar’s reign—from 27 B.C. to A.D. 14—he created a new order that was the beginning of the Roman Empire. In 202 B.C., the year in which the Romans defeated the Carthaginians at the battle of Zama, Liu Pang won control of China and established the Han dynasty. The Roman Empire as well as its Eastern contemporary, the Han Dynasty, in China established strong central governments but experienced a decline caused by both internal and external influences; however, China leaders were more effective in using native conventions and values to maintain control over diverse people and regions than the emperors in Rome. The Han rulers used a system of choosing government officials on the basis of merit by introducing a primitive examination and recommendation system. By the first century B.C. the government employed more than 130,000 bureaucrats, or one for every 400 to 500 people in the empire. Although the examinations were theoreticall y open to all Chinese except merchants, the bureaucrats were drawn largely from the property-owner class, because affluence was needed to obtain the education to pass the examination. Consequently, the division of Chinese society transformed into a separation between landowner-bureaucrats and peasants. This system for officials influenced Chinese civilization for 2000 years. Students were expected to learn the teachings of Confucius, as well as Chinese history and law. By creating a group of well-trainedShow MoreRelatedEssay on Ap World Similarities and Differences China and Rome1144 Words   |  5 PagesHan China and Rome The Han Dynasty and the Roman Empire both had a great influence not only on its people but the world as a whole. The two had similar and different methods of political control. Both ruled their people under a bureaucracy, they had civil servants to maintain their large empires, and their foundations were made of great and strong rulers. Aside from the similarities they also had several differences. Take China for example, they focused more on Confucianism and they had a MandateRead MoreEssay about Comparison on Qin and Augustus Caesar1177 Words   |  5 Pages Comparing Augustus and Qin Emperor Qin Shi Huangdi was crowned king in 246 BC during the Warring States era (475-221 BC). Two centuries later, Caesar Augustus founded the Roman Empire and became Rome’s first Emperor, ruling from 27 BC until his death in 14 AD. Both emperors ruled with distinct and individual morals in which they laid upon their society. Both rulers utilized military victories, new code laws, and established a sense of unity throughout the land. Each contribution to their stateRead MoreQin Shi Huangdi and Ausustus Caesar1191 Words   |  5 Pageslife have always wanted and tried to leave their personal touches on society. From Qin Shi Huangdi of China as far over to Augustus Caesar of Rome, they all wanted people to recognize, respect and remember them until long after their time. These two rulers in particular left their mark by erecting pillars of greatness and importance to history. Qin Shi Huangdi and Augustus Caesar made claims of events and how successful they were at what the y accomplished in their time of power. Some of theseRead MoreRome s Creation Of A Mediterranean Empire3215 Words   |  13 Pages Rome’s Creation of a Mediterranean Empire, 753 b.c.e.–330 c.e. A. Geography and Resources 1. Italy and Sicily are at a crossroads of the Mediterranean and serve as a link between Africa and Europe. Rome is at a crossroads of the Italian peninsula. 2. Italy’s natural resources included navigable rivers, forests, iron, a mild climate, and enough arable land to support a large population of farmers whose surplus product and labor could be exploited by the Roman state. B. A Republic of Farmers, 753–31

Wednesday, May 6, 2020

Is Christopher Nolan A Modern Hollywood Auteur - 1497 Words

Following the release of his movie, Inception, The Guardian ran an article comparing Christopher Nolan to famed Hollywood auteur, Stanley Kubrick. Most readers subsequently reacted negatively to the article’s central premise. However, The Guardian’s readers concurrently began pondering another question: is Christopher Nolan a modern Hollywood auteur? According to many scholastic sources, Nolan should not even be considered for auteur status. Most of these naysayers point out that six of his eight feature films have been remakes, adaptations, or film franchises. However, upon closer examination, Christopher Nolan expresses a level of artistic continuity and control throughout his body of work that qualifies him for auteur status. This consistency and control is apparent in the composition of his workshop and in his plot themes and mise-en-scene. In auteur theory, a director must express control over the industrial process of film production in order to be considere d a true auteur. Christopher Nolan controls his workshop in two ways: by taking on several roles in the filmmaking process and by maintaining personnel consistency over time. Nolan notoriously not just directs his films but also frequently writes or co-writes his scripts. In fact, Nolan has had at least a part in writing each of his films with the exception of Insomnia. Nolan also frequently produces his own films – often in collaboration with his wife and/or brother. In addition, Nolan maintains theShow MoreRelatedEssay on The Romantic Notion of a Film Director 2217 Words   |  9 Pagescritical material, primarily Andrà © Bazin and Roland Barthes and applying them to several case study films directed by Christopher Nolan including The Following (1998), The Prestige (2006) and Inception (2010), to examine whether Nolan possesses the qualities of an auteur and if so, does that imply an ideological view of what the auteur resembles or an artistic one. The term auteur theory arose in France during the 1940’s, a foundation to the French cinematic movement known as the nouvelle vagueRead MoreThe French New Wave Cinema1905 Words   |  8 Pagesconsidered one of the most influential periods in cinematic history. The filmmaking techniques and ideas utilized during the French New Wave period can still be seen in modern cinema, with some films uses them more than others. Two films that more obviously been influenced by the era are Quentin Tarantino s 1992 film Reservoir Dogs and Christopher Nolan’s 2000 film Memento. These films exude many traits and styles synonymous with French New Wave cinema such as jump cuts and non-continuity editing, a lowRead MoreChristopher Nol An Auteur And Postmodern Filmmaker2218 Words   |  9 PagesChristopher Nolan is an auteur and postmodern filmmaker. He started off making low budget ‘indie’ films, his first being Doodlebug. He has now risen to being one of the biggest names in Hollywood and creating blockbusters that not only are visual masterpieces but thought provoking journeys. He respects film as an art form, thus allowing him to create some of the top ranked films this century and The Dark Night and Momento are even classed among the greatest films of all time. He has 122 major wins

Tuesday, May 5, 2020

The Impact of Mission on Ethical Business Culture

Question: Discuss about the The Impact of Mission on Ethical Business Culture. Answer: Introduction International business essentially includes different commercial business transactions that are (both private and public) that occur between two or else more regions that is beyond political limits. The current study elucidates in detail the justification behind selection of Australia as the host nation for conducting overseas business. In addition to this, the present segment expounds illustratively the cultural aspects of host country that is Australia along with its unique cultural components. Moving further, the study also presents a comparative analysis of the business culture between (Australia) and that of home country that is Singapore) by taking into consideration language, business etiquettes, ways of business meetings and presentations and many others. Thereafter, the current section also takes into consideration the Hofstede cultural dimensions and mentions in detail different factors that foreign companies need to take into account for functioningeffectively in Australia . The rational of the study by selecting country of choice and its reasons Australia has been selected as the host country for conducting business activity for the economic resilience, adaptableness as well as record of stable development. This helps in delivering an innocuous, low-risk business environment in which to carry out business. Particularly, the economy of Australia is essentially reinforced by different strong institutions that can be considered as an exceptional service segment and a capability to react to different worldwide challenges. The selection of the Australian economy as the investment decision can be regarded to be justified as this country is rated AAA by three worldwide rating agencies and is estimated to realize approximately 2.9% of average annual real GDP growth in the upcoming five years that is the highest among the major advanced nations (Austrade.gov.au, 2017). In addition, the Australian economy also has the potential and capacities to dispense superior quality products as well as services to the entire world. Thus, selection of the Australia as the host country for carrying out business is justified as the he mineral as well as energy resources persistently helps in empowering the process of industrialization, business transactions of different agricultural commodities along with premium foods that all meet up the requirements of the regions green environment(Austrade.gov.au, 2017). Nevertheless, the region is well equipped to provide appropriate wealth management, facilities of healthcare, different educational facilities, tourism as well as professional services. Again, the labor force of Australia is extremely talented, educated, and multicultural and multilingual. Furthermore, Australia is also well situated as a trade as well as investment base for international corporations for carrying out business with Asia. The country is labelle d as worldwide top five necessarily on the Index of Economic Freedom that implies that Australia delivers effective governance to different multinational firms (Austrade.gov.au, 2017). Comprehensive cultural analysis of host country (Australia) and clarify the unique cultural mechanism of host country Cultural analysis of host country (Australia) Australia has friendly and open culture. Australians feel that their work will speak for itself so they show no interest other position, title or status (Stephensen, 2016). The culture of Australia is a Western culture that derived from British but gets influenced by unique geography especially in the Australian continent. Australians are very down to earth as well as watchful for not giving the feeling that they have superiority complex with anyone else. Australians value authenticity, loathe pretentiousness and sincerity (Rosecrance, 2014). They have a preference populace who are self-effacing, self-deprecating as well as sense of humor and humble. Australians places high value for their relations. The original population of Australia majorly consists of Aborigines and British people and Irish descent. After World War II, there was serious migration from Europe. In other words, this was in reply to the Australian policy that tries in attracting immigrants for boosting the populatio n as well as workforce (Soares, FarhangmehrShoham, 2016). From last thirty existences, Australia has liberalized from its migration strategy as well as opened its limitations to South East Asia. Cultural components of host country (Australia) Manners and Customs In Australia, men wear traditional dark business suit and tie. On the contrary, women wear dress, or skirt and blouse for commerce. At the time of attending business functions, informal clothing is considered inappropriate (McHoul Luke, 2013). Men should not become actually affectionate with another man or wink at women. For Australians, being punctual is dangerous. They believe in maintaining good eye contact at the time of meeting and conversations. Exchange of gifts is not considering as regular practice in business. Religion The main faith in Australia is 50% of Christian as their high Individualism Index that correlates with the other Christian based cultures. In the most principal Christian societies, the Hofstede Individualism Index correlates with the cultural dimensions (Kieser, 2014). Figure: Religion in Australia (Source: Hofstede Bond, 2013) Personal Communication In Australia, they speak English for communicating with other people. Australians shake hands at the time of meeting and while leaving. In case of women, most of them welcome each other with a kiss on the cheek. Professional workers exchange business cards as a general gestures and further communication for building relationships. Australians are gracious and open but honesty and conciseness are even appreciated. Australians respect each other opinion and ready for discussions (Hofstede Bond, 2014). They are an active listener and ask if anything cannot be understood at the time of conversation. Sightseeing as well as sports is main conversational topics. Comparison of business culture between host country (Australia) to that of home country (Singapore) Language: Analysis of the business culture of the home country that is Singapore reveals the fact that the Singapore is essentially a straightforward location for conducting business. The home country Singapore necessarily has four official languages that includes English, Mandarin, Malay as well as Tamil. However, English is essentially the main language of business as well as administration, also extensively spoken by individuals. In addition to this, varied translation along with interpreting services are also made available at different business centers. Similarly, the Australia also use English or else general Australian as the national language although Australia does not necessarily have an official language (Chaney Martin, 2013). Meetings as well as presentations: Evaluation of the business culture replicates the fact that the home country of Singapore has certain social regulations as well as protocols that one needs to stick to. For example, presentation of visiting cards is an essential part as well as customary practice of the business protocol and need to be presented with both the hands with the name written on the card facing the particular recipient (McLuhan, 2015). On the other hand, the business culture of Australia is not very formal, therefore, the greetings in business meetings as well as presentations also tend to be a bit casual and stress-free (Chaney Martin, 2013). However, presentation of business cards can be done at the time of introduction where contents pertaining facts and figures are important in place of emotions and feelings. Analysis reflects the fact that punctuality is an important facet of the business culture of Singapore as Singaporeans tend to be on time or even before time f or business meetings or else presentations. However, preparedness is an important factor for Singaporeans before entering into different business negotiations. Particularly, Small conversation can be regarded as a common aspect especially at the onset of business meetings; questions are asked regarding family or else other private details. However, this is commonly not regarded to be rude. Identically, punctuality is also an important factor for the business culture of Australia. In addition to this, the Australians also essentially have friendly approach to business. Business etiquette:Singapore also has an official business culture with differentregulations of etiquette that necessarily differ between Chinese, Malay as well as Indian population. Again, Singaporeans are also very vigilant and expected to certain that they are conducting business with correct people. As a consequence, it is essential to institute a good as well as genuine association with a Singaporean equivalent to exhibit that the capabilities are excellent (Craft, 2016). On the other hand, analysis of the business culture of Australia also reflects the fact that it is considered to be polite among Australians to shake first hand and it is also considered to be customary for necessarily business practices. However, Australians have the inclination to be informal in particularly daily transactions and it is general practice to address someone by their first name. Another similarity between the business culture of Singapore and Australia is that they both are very straightforward when it comes to business and do not tend to have long standing relationship before conducting business (Soares, FarhangmehrShoham, 2016). Appearance and Behavior: Analysis of appearance and behavior reveals the fact that Australian men wear a conservative business suits (specifically black) and tie but women essentially wears dress, skirt as well as blouse for deals of business. Informal clothing is not appropriate for business meetings in Australia. The Australian appearance is somewhat similar to that of the Singaporean appearance in businesses. Again, evaluation of the behavior reflects the fact that the Australians are punctual, maintain proper eye contact in business meetings, does not practice the act of gift exchanging and waits for turns to speak up in a meeting (Rosecrance, 2014). On the contrary, the behavior of Singaporeans also identical in a certain way. However, the behavior of Singaporeans are a bit more formal than that of the Australian who tend to be somewhat casual and straightforward in their approach. Hofstede cultural dimensions and clarify what foreign companies need to believe for operating efficiently in the selected host country (Australia) Hofstede Cultural Dimensions theory is one of the frameworks used for cross-cultural communication that is developed by Geert Hofstede (Hofstede, 2013). This framework helps in describing the belongings of a society on principles from their members who principles relating to performance by using the arrangement as resulting from factor examination. Figure: Hofstede Model for Cultural Dimensions (Source: Hofstede, 2015) Power Distance In this particular dimension, it explains that all individuals staying in the society are not equal. In other words, it is expressed that the attitude of the culture gives rise to inequalities among the people (Hofstede, 2014). Therefore, Power Distance explains the degree to which the less powerful members of institutions as well as association within the nation expect and accept that power gets dispersed in unequal terms. It directly deals with the fact that inequality in a society gets authorized by the group as well as leaders at the same time. It has been noted that Australia scores low in this particular dimension scoring 36 as plotted in the above graph. This reveals that Australian association hierarchy is recognized for expediency whereby superiors are reachable and managers relies upon individual human resources and team based on the level of expertise (Hofstede, 2013). It is essential that both managers as well as employees consult with each other for communicating the information that will be shared on frequent basis. In this way, communication is treated as informal, direct as well as participative at the same time. Individualism In this particular dimension, primary issues needs to be addressed as the degree of interdependence a culture needs for maintaining among their members. It depends upon when self-image of individuals defines in conditions of I or We. As far as individualist society is concerned, people mainly look at themselves and their families at the same time. In case of Collectivist societies, people fit in in group that takes care in replace for faithfulness (Hofstede, 2016). Australia with a score of 90 in the given measurement is highly individualist culture. In other words, it get translates into a loosely-knit society whereby expectations lies n taking care of themselves and families. As far as business world is concerned, employees expects for remaining self-reliant as well as display initiative (Hofstede, 2014). Therefore, exchange-based world of work involves hiring as well as endorsement decision based upon merit on confirmation in the most appropriate way. Masculinity versus Feminism In this particular dimension, high score determines masculine that indicate that the culture will be ambitious by intense opposition, achievement as well as success. Success defines by the winner or best in the field (Hofstede, 2013). Therefore, the value scheme starts in the school as well as continues all through the life span in work and freedom pursuits. On the contrary, low score determines feminine as they have leading principles in society as well as caring for others and quality for life. To explain, Feminine society is one where quality of life will be treated as sign of success as well as standing out in the crowd. Here, main issue is what motivates populace wanting to be best in case of Masculine or liking what people do in case of Feminine (Hofstede, 2013). Australia scores 61 on the given measurement as well as considers in Masculine society. In other words, behavior in school, work as well as play based upon the shared values whereby people struggle their best that winners takes all. Australians are proud in gaining success and achievements that they get in life (Dorfman Howell, 2014). They offer basis of hiring as well as promotion decisions at workplace. Therefore, conflicts get resolved at individual levels as well as goals to win. Uncertainty Avoidance In this particular dimension, uncertainty avoidance means the way culture deals with the fact as the future is unknown and tries in controlling the future. In other words, the ambiguity brings with nervousness and unique cultures as it deal with anxiety in different ways (Biddle Swee, 2012). This means the extent to which members of a culture feel that threatens by ambiguous or unidentified situation and created attitude as well as institutions. Australia scored 51 in this dimension. Long-term orientation In this measurement, it describes how every culture requires maintaining some relations from past at the time of dealing in present and prospect. Mostly, societies majorly prioritize two existential goals. In case of normative society, they achieve low on the given measurement as they prefer maintaining traditional society as well as norms at the time of viewing societal alters with feeling (Bennett Carter, 2012). Those with a culture will be scoring high by taking practical approach as they support economy as well as efforts in modern education for preparing in the near future. Australia scores 21 on this given measurement and termed under normative ethnicity. People living in this society will have strong anxiety for establishing the unqualified truth as they are normative in thoughts process. Therefore, Australians display great admiration for traditions where they have small tendency for saving for prospect and focus for achieving quick consequences (Soares, Farhangmehr Shoham, 2016). Indulgence Indulgence considers as one of the confront that confronts humankind now and in the past whereby degree of small kids are socialized. Without considering socialization, dimension reveals the extent to which people tries in controlling their desires as well as impulse based upon the method they are raised (McHoul Luke, 2013). On the contrary, weak control termed as indulgence is relatively strong known as restraint. Cultures describes as lenient or reserved. Australia scores 71 in this given measurement so it will be considered as high indulgent country. People in societies classify under high score as it exhibits willingness for realizing their impulses and needs for enjoying life and having fun. They posses optimistic approach as well as have a propensity towards hopefulness (Bennett Carter, 2012). Therefore, Australian is placed in a higher degree of significance on spare time time as they spend currency in business. Conclusion In conclusion it can be said that it is important to understand the market culture before conducting transnational businesses. The present segment helps in gaining deep understanding different components of culture in both the host as well as the home country that takes into consideration manners and customs, religions, communication practices. In addition to this, the present study also helps in analyzing the differences in the business culture of the two countries by carrying out a comparative analysis of culture. Thereafter, the current study also scrutinizes in detail the different components of the Hofstedes cultural dimensions such as power distance, individualism, masculinity as well as feminism, avoidance of uncertainty, long term orientation and indulgence with special orientation to the both cultural factors of Singapore (home country) and Australia (host country). Analysis of different cultural dimensions can help in analyzing the effectiveness and validation for selection of Australia as the investment decision. Reference Austrade.gov.au. (2017). Austrade.gov.au. Retrieved 14 February 2017, from https://www.austrade.gov.au/International/Invest/Why-Australia/Business Bennett, T., Carter, D. (2012). Culture in Australia: policies, publics and programs. Cambridge University Press. Biddle, N., Swee, H. (2012). The relationship between wellbeing and Indigenous land, language and culture in Australia. Australian Geographer, 43(3), 215-232. Chaney, L., Martin, J. (2013). Intercultural business communication. Pearson Higher Ed Craft, J. L. (2016). Common thread: The impact of mission on ethical business culture. A case study. Journal of Business Ethics, 1-19. Dorfman, P. W., Howell, J. P. (2014). Dimensions of national culture and effective leadership patterns: Hofstede revisited. Advances in international comparative management, 3(1), 127-150. Hofstede, G. (2013). Cultural constraints in management theories. The Academy of Management Executive, 7(1), 81-94. Hofstede, G. (2013). Dimensionalizing cultures: The Hofstede model in context. Online readings in psychology and culture, 2(1), 8. Hofstede, G. (2013). National cultures in four dimensions: A research-based theory of cultural differences among nations. International Studies of Management Organization, 13(1-2), 46-74. Hofstede, G. (2013). The cultural relativity of organizational practices and theories. Journal of international business studies, 14(2), 75-89. Hofstede, G. (2014). Cultural dimensions in management and planning. Asia Pacific journal of management, 1(2), 81-99. Hofstede, G. (2014). The business of international business is culture. International business review, 3(1), 1-14. Hofstede, G. (2015). Attitudes, values and organizational culture: Disentangling the concepts. Organization studies, 19(3), 477-493. Hofstede, G. (2016). Cultural differences in teaching and learning. International Journal of intercultural relations, 10(3), 301-320. Hofstede, G., Bond, M. H. (2013). The Confucius connection: From cultural roots to economic growth. Organizational dynamics, 16(4), 5-21. Hofstede, G., Bond, M. H. (2014). Hofstede's culture dimensions an independent validation using Rokeach's value survey. Journal of cross-cultural psychology, 15(4), 417-433. Kieser, A. (2014). Book Reviews: Geert Hofstede: Cultures and Organizations. Software of the Mind: 1991, Maidenhead, UK: McGraw-Hill. 279 pages. Organization Studies, 15(3), 457-460. McHoul, A., Luke, A. (2013). Discourse as language and politics: An introduction to the philology of political culture in Australia. Journal of Pragmatics, 13(3), 323-332. McLuhan, M. (2015). Culture is our business. Wipf and Stock Publishers. Rosecrance, R. (2014). The radical culture of Australia. The Founding of New Societies, 275-318. Soares, A. M., Farhangmehr, M., Shoham, A. (2016). Hofstede's dimensions of culture in international marketing studies. Journal of business research, 60(3), 277-284. Stephensen, P. R. (2016). The foundations of culture in Australia. WJ Miles.

Wednesday, April 15, 2020

Marriot International, Inc. Analysis

This is a research based assignment on the international expansion opportunities and practices of Marriot Hotels. Marriot International, Inc., which is based in the U.S., is a global operator of a broad collection of hotels and other hospitality facilities.Advertising We will write a custom essay sample on Marriot International, Inc. Analysis specifically for you for only $16.05 $11/page Learn More The company has about 3,150 lodging and accommodation facilities located in USA and many others in foreign countries. With a wide variety of self-branded properties across the world and exclusive lodging brands, Marriot is arguably ranked among the top leaders of hospitality services in the world. Guests’ accommodation requirements are increasing abundantly with every new day, due to the changing environment brought by globalization, among other drivers. The increasing demands for exclusive lodging and accommodation facilities facilitated by globalizati ons have continued to call for much concern from the hospitality sector. This indeed is one of the many economical opportunities and benefits that have been brought by the trend of globalization to the vast hospitality industry. Along with the increasing lodging demands, the trend has also brought great impact to other driving forces in the hospitality industry, in a manner that touches almost every sector of the industry (Rusa, van Knippenberg Dan 13) These impacts have continued to affect positively, all operations in the sector, in a way that increases demand for hospitality products and services, thus forcing many companies in the industry to take their business across national boundaries. Among those companies that have been able to adopt to the many changes in the sector, and who have been optimistic enough to see opportunity in every bit of new developments, are the Marriot International, Inc., who have successfully opened hospitality chains in almost all parts of the world. One of the company’s major goal and objective is to carry on with its mission of providing exclusive programs and resources that do reflect the global communities. This indeed explains the company’s current global diversity and inclusion to almost every part of the world, especially in the developing countries.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More As it would be observed, there are many challenges in the current hospitality industry, but Marriot’s optimistic approach would enable to them see opportunity in those challenges and utilize them fully, as one way of ensuring that they remain ahead in the competitive market place. The following graph indicates Marriot’s shares in the market, compared with other companies in the hospitality sector. Ever since the company’s foundation by Willard Marriot way back in the year 1927, it has been through ra pid developments over the time. Today, the company is proud of about 3,200 lodging properties globally, with a total of 435 hotel facilities outside USA. Despite the many challenges currently permeating the global hospitality industry, Marriot are yet to feel the heat, due to their enduring management philosophy and focused leadership abilities. Marriot International has successfully managed to carry its hospitality brands into many regions of the world. This trend continues even today, as the company directs its expansion plans to other developing regions, where they are yet to make an entrance (Ulrich 81). However, despite these international expansion efforts which reflects success and strength in the global market, Marriot Hotels have never been lucky to elude some of the many business challenges affecting the hospitality sector today. As it is observed, financial, economical and cultural challenges are some of the major global challenges which continue to affect the companyâ₠¬â„¢s expansion efforts.Advertising We will write a custom essay sample on Marriot International, Inc. Analysis specifically for you for only $16.05 $11/page Learn More Cultural Challenges The cultural differences presented by various cultural groups have been a major challenge to the company. Different countries have different cultural perceptions, and sometimes, these varied cultures may not offer a smooth welcome to many hospitality projects aligned to Marriot’s global diversity and inclusion plan. Some people in those diverse regions may tend to see the company’s policies, standards, brands, services, and offers as a threat to their own culture. For these reasons, these communities may not be ready to compromise their own way of life in favor of a foreign investor, just because they have a global reputation in the hospitality sector. For instance, the company’s recent non-smoking policy inside their lodging facilities, even thou gh ethical, may not work well in most places where smoking is fully accepted. However, as it would be observed from past studies, Marriot Hotels have always devised new strategies to address the issue of culture, which proves to be common in many foreign countries. One effective way of addressing cultural challenges and issues has been through the spirit of diversity, which ensures that the company’s huge workforce is drawn from various regions representing a diversity of culture. The company’s mixed-up workforce really reflects the rich diversity of the communities in the entire world, where the company has a touch. Economical Challenges No one in this world, not even the smartest financial analysts can foretell the predicament that awaits the global business sector in the near future. This is due to the ongoing implications of the past financial crises and turbulences. Many companies in the world have never been stable with their businesses, owing to the many challen ges posed by the uncertain patterns of the economy. Businesses all over the world are gradually regaining stamina in the market, as the global economy continues to stabilize from the impact of the recent financial crisis, but with a lot of challenges (Boyd 42). However, some companies in the global market such as Marriot International who have had a strong financial stability have never been serious victims of these financial turbulences and have sailed all through with their operations in the hospitality sector, even at the peak of the worst economical times ever. This however does not mean that Marriot International has never felt the pinch of current global economical challenges.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Whenever global economical turbulences do occur, they affect every sector of our economy, either directly or directly. In this case, one way by which Marriot continues to pay the cost of economical challenges is through its international expansion efforts. While it is not easy to establish new properties in some countries in the current economical situations, it has never been easy for the company to manage its property and facilities in some regions where the implications of the 2007 global crisis are yet to subside completely. In that case, the company has no other choice, but to apply useful management concepts which are certain to enable them survive the many challenges regularly presented by the uncertain economical patterns of the day. One of the most applicable concepts used by Marriot to deal with this challenge is the adjustment of prices to match the economical changes. The following chart shows the average price of a room per year for the company in different economical t imes. Financial Challenges Financial challenge remains a major obstacle in the expansion of the hospitality sector. Marriot International, even though a big player in the sector, has never been excluded from this challenge. Customers’ needs are becoming complex with every moment that passes, driven by the current information age (Palierse 17). In this regard, customers are armed with more information regarding exclusive services and products that they would expect in a company having a global recognition, such as Marriot. To respond to these demands, Marriot has regularly been forced to part with a lot of money to maintain its exclusive hospitality brands and property, as one way of retaining their reputation in the industry. However, trying to align the company’s vast operations with its global reputation has always been a costly intervention which has continued to freeze the company of a lot of money, in every financial year. This poses great challenges to the compa ny’s recent expansion efforts to other pending regions. It is also clear that the financial performance of the company’s properties is not the same in all regions. While the economies of some individual nations continue to play a larger role in the company’s financial success, things are not so pretty in other regions. This has the meaning that, Marriot has spent more money in the management of its properties in some regions, while the value of these investments is never promising sometimes. Another serious and common financial challenge facing the company in its expansion efforts is the issue of business environment in other parts. In some fast developing regions such as India, land is very expensive and this makes it hard for the company to establish new property there, owing to the serious management and operational challenges this is likely to pose to the business in the future. Works Cited Boyd, David. â€Å"Lessons from turnaround leaders.† Strategy Leadership 39. 3 (2011): 36-43. Print. Palierse, Christophe. â€Å"L’amà ©ricain Marriott veut implanter un hà ´tel Bulgari à   Paris.† Les  Echos 31. 12 (2011): 17. Print. Rusa, Diana., van Knippenberg, Dan., Wisse, Barbara. â€Å"Leader power and self- serving behavior: the moderating role of accountability.† Leadership Quarterly 23. 1 (2012): 13. Print. Ulrich, Dave. â€Å"Organizational capability: creating competitive advantage.† The Executive 5. 1 (2001): 77-92. Print. This essay on Marriot International, Inc. Analysis was written and submitted by user Yuliana O. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Thursday, March 12, 2020

Coming through

Coming Through SlaughterTab/Tab/ Coming Through Slaughter written by Michael Ondaatje tells of Buddy Bolden's descent into his own hell. Ondaatje's novel is full of art and beauty and tells the story of a musician, who was unsurpassed in his time whose work influenced the music of several later generations. It is a story of an artist who struggled to transcend life's miseries and who suffered with despair, madness, loneliness, and the viciousness of life. The novel centers on Buddy Bolden, a New Orleans cornet player, and early jazz genius, who dropped out of sight for two years and then made a triumphant though short-lived return, before dying in an asylum. In Coming Through Slaughter, Buddy Bolden struggled to live between a public and a private and to deal with the tensions between instinct and consciousness. Bolden's emotions are best seen in his music, which is a distinct form of the blues that expresses the struggles that constantly surrounded him.First Street, Central City New Orleans. Buddy Bold...Bolden is the alienated and isolated artist unable to live within the structures of order and control. The constant demands that audiences makes on him drives Bolden into insanity. These are the demands that had caused a transformation in Bolden's character. If only he had known the harm in these demands, he would have been able to protect himself. Instead, it destroyed his life and career.Russell 2All of Buddy's audiences are selfish, and all have their own needs from Buddy. Each plays a role in Buddy's life, making it seem like he is the most important person in their lives. While all have their own interest in mind. For Webb, a long time friend, Bolden does not exist as a private person with private needs, but only as a public person. Webb was the only person who searched for...

Tuesday, February 25, 2020

Incorporating theory Essay Example | Topics and Well Written Essays - 500 words

Incorporating theory - Essay Example Thus, experience is seen to be a fundamental prerequisite for a nurse to become an expert. This experience, referred to as nursing experience in this context, is broken down into levels. These levels represent the cumulative education and experience in nursing. The levels start from that level characterized by the lowest education base and the least experience. Subsequently, those levels representing the progressive accumulation of education base and nursing experience follow in order determined by the intensity of the two determining factors. Ultimately, the levels end with that level characterized by the highest education base and the most experience. In their order from the lowest to the highest they are; novice, advanced beginner, competent, proficient and expert (Dracup, Bryan-Brown, & Ward, 2004). There is a profound significance of the novice to expert theory to the proposed solution in this research. The graduation of an individual from one level to another indicates the relevance of the past experience (Dracup, Bryan-Brown, & Ward, 2004). This experience is what influences change within the individual thus he/she is no longer reliant on abstract principles which he/she has been being reliant to (Wandel, 2003). In the case of postpartum detection, expert nurses select the appropriate screening tool thus providing the necessary care following the results given. The theory also enlightens on the need to provide the appropriate environment in order to achieve the provision of the most exquisite care by a nurse (Dracup, Bryan-Brown, & Ward, 2004). A nurse who doesn’t fail in the detection of postpartum depression is able to provide timely intervention. Thus, there is the understanding that for the provision of the best nursing care, a sound education base and profound experience are essential. Human has taken an integral part in the

Sunday, February 9, 2020

Organisational Effectiveness at Google and P&G Essay

Organisational Effectiveness at Google and P&G - Essay Example Employee swapping produces risks of reduced morale and poor alignment of cultures. Nonetheless, this case showed that Google and P&G can learn from one another’s cultural values and practices, so that they can both enhance their organisational effectiveness. Table of Contents Executive Summary 1 Table of Contents 2 Introduction 3 Competing Values Model 4 Overview 4 Applications 4 Employee Swapping 5 P&G and Google’s Employee Swapping 5 Conclusion 7 Reference List 8 Introduction The construct of organisational effectiveness is an important concept in organisational studies because organisations commonly aspire to improve or attain organisational effectiveness. Organisational effectiveness, however, is hard to measure because it does not possess a universally-agreed definition. As a result, several scholars criticised its significance to organisations, such as Steers (1975) and Hannan and Freeman (1977). Quinn and Rohrbaugh (1983) offer a model of effectiveness criteria i n â€Å"A Spatial Model of Effectiveness Criteria: Towards a Competing Values Approach to Organizational Analysis.† They conducted a two-part exploratory investigation on how individual theorists and researchers conceive the construct of organisational effectiveness. The first study included seven experts, while the second used 45 theorists and scholars. Findings showed that organisational effectiveness can be constructed using three axes of values: control-flexibility, internal-external, and means-ends. These values pertained to the critical issues of â€Å"competing values† in defining and measuring effectiveness, which has been embodied in the competing values framework (CVF) (Quinn and Rohrbaugh 1983, p.370). This paper applies the Competing Values Approach to Google and Procter & Gamble (P&G), as well as employee swapping. Competing Values Model Overview The Competing Values Approach is composed of three competing values, and they are control-flexibility, internal -external, and means-ends. These values offer four mid-range theories of organisational analysis: open systems model, human relations model, internal process model, and rational goal model (Quinn and Rohrbaugh 1983, p.369). The human relations model highlights on flexibility and internal focus. The open systems model concentrates on flexibility and external focus. The rational goal model prioritises control and external focus, while the internal process model emphasises stability and control (Quinn and Rohrbaugh 1983, p.371). Applications Procter & Gamble. P&G is described as having an internal process model with hierarchical and market attributes. It uses information management and communication to attain the ends of stability and control (Quinn and Rohrbaugh 1983, p.371). In terms of culture, it possesses a mixture of market and hierarchical cultures. It has a market culture because employees behave according to clear objectives and are rewarded through their achievements (Hartnel l, Ou and Kinicki 2011, p.679). The company’s main values are communication, competition, and achievement. P&G is effective in gathering customer and competitor information and developing the competitiveness of its products (Robbins, Judge and Campbell 2010, p.480). P&G is also hierarchical because of rules and regulations that clearly define roles and responsibilities. Behaviours are characterised with conformity and predictability, which it wants to change by swapping employees with Google (Robbins,

Thursday, January 30, 2020

Reflecting on ‘Reflective practice’ Essay Example for Free

Reflecting on ‘Reflective practice’ Essay â€Å"Maybe reflective practices offer us a way of trying to make sense of the uncertainty in our workplaces and the courage to work competently and ethically at the edge of order and chaos†¦Ã¢â‚¬  (Ghaye, 2000, p.7) Reflective practice has burgeoned over the last few decades throughout various fields of professional practice and education. In some professions it has become one of the defining features of competence, even if on occasion it has been adopted mistakenly and unreflectively to rationalise existing practice. The allure of the ‘reflection bandwagon’ lies in the fact that it ‘rings true’ (Loughran, 2000). Within different disciplines and intellectual traditions, however, what is understood by ‘reflective practice’ varies considerably (Fook et al, 2006). Multiple and contradictory understandings of reflective practice can even be found within the same discipline. Despite this, some consensus has been achieved amid the profusion of definitions. In general, reflective practice is understood as the process of learning through and from experience towards gaining new insights of self and/or practice (Boud et al 1985; Boyd and Fales, 1983; Mezirow, 1981, Jarvis, 1992). This often involves examining assumptions of everyday practice. It also tends to involve the individual practitioner in being self-aware and critically evaluating their own responses to practice situations. The point is to recapture practice experiences and mull them over critically in order to gain new understandings and so improve future practice. This is understood as part of the process of life-long learning. Beyond these broad areas of agreement, however, contention and difficulty reign. There is debate about the extent to which practitioners should focus on themselves as individuals rather than the larger social context. There are questions about how, when, where and why reflection should take place. For busy professionals short on time, reflective practice is all too easily applied in bland, mechanical, unthinking ways, Would-be practitioners may also find it testing to stand back from painful experiences and seek to be analytical about them. In this tangle of understandings, misunderstandings and difficulties, exactly how to apply and teach reflective practice effectively has become something of a conundrum. This paper explores current ideas and debates relating to reflective practice. In the first two sections, I review key definitions and models of reflection commonly used in professional practice. Then, in the reflective spirit myself, I critically examine the actual practice of the concept, highlighting ethical, professional, pedagogic and conceptual concerns. I put forward the case that reflective practice is both complex and situated and that it cannot work if applied mechanically or simplistically. On this basis, I conclude with some tentative suggestions for how educators might nurture an effective reflective practice involving critical reflection. Defining reflective practice †¦reflection can mean all things to all people†¦it is used as a kind of umbrella or canopy term to signify something that is good or desirable†¦everybody has his or her own (usually undisclosed) interpretation of what reflection means, and this interpretation is used as the basis for trumpeting the virtues of reflection in a way that makes it sound as virtuous as motherhood. Smyth (1992, p.285) The term ‘reflective practice’ carries multiple meanings that range from the idea of professionals engaging in solitary introspection to that of engaging in critical dialogue with others. Practitioners may embrace it occasionally in formal, explicit ways or use it more fluidly in ongoing, tacit ways. For some, reflective practice simply refers to adopting a thinking approach to practice. Others see it as self-indulgent navel gazing. For others still, it  involves carefully structured and crafted approaches towards being reflective about one’s experiences in practice. For example, with reference to teacher education, Larrivee argues that: â€Å"Unless teachers develop the practice of critical reflection, they stay trapped in unexamined judgments, interpretations, assumptions, and expectations. Approaching teaching as a reflective practitioner involves fusing personal beliefs and values into a professional identity† (Larrivee, 2000, p.293). In practice, reflective practice is often seen as the bedrock of professional identity. â€Å"Reflecting on performance and acting on refection†, as McKay (2008, Forthcoming) notes, â€Å"is a professional imperative.† Indeed, it has been included in official benchmark standards laid down for professional registration and practice (see table 1 in Appendix 1). One example is in the way it has been included, explicitly and implicitly, in all Project 2000 curricula for Nursing Diplomas, while reflection is highlighted as a pivotal skill to achieve required Standards of Proficiencies in nursing and other health professional education (NMC, 2004; HPC, 2004). It has also become a key strand of approaches to the broader field of continuing professional development, work-based learning and lifelong learning (Eby, 2000; HPC, 2006). Given its growing emphasis in professional practice and education, it would seem important to explore the concept of reflective practice in some detail. To this end, this section distinguishes between different types of reflective practice and looks at the sister concepts of reflection, critical reflection and reflexivity. Reflection ‘in’ and ‘on’ practice Dewey (1933) was among the first to identify reflection as a specialised form of thinking. He considered reflection to stem from doubt, hesitation or perplexity related to a directly experienced situation. For him, this prompted purposeful inquiry and problem resolution (Sinclair, 1998). Dewey also argued that reflective thinking moved people away from routine thinking/action (guided by tradition or external authority) towards  reflective action (involving careful, critical consideration of taken-for-granted knowledge). This way of conceptualising reflection crucially starts with experience and stresses how we learn from ‘doing’, i.e. practice. Specifically Dewey argued that we ‘think the problem out’ towards formulating hypotheses in trial and error reflective situations and then use these to plan action, testing out our ideas. Dewey’s ideas provided a basis for the concept of ‘reflective practice’ which gained influence with the arrival of Schon’s (1983) ‘The reflective practitioner: how professionals think in action’. In this seminal work, Schon identified ways in which professionals could become aware of their implicit knowledge and learn from their experience. His main concern was to facilitate the development of reflective practitioners rather than describe the process of reflection per se. However, one of his most important and enduring contributions was to identify two types of reflection: reflection-on-action (after-the-event thinking) and reflection-in-action (thinking while doing). In the case of reflection-on-action, professionals are understood consciously to review, describe, analyse and evaluate their past practice with a view to gaining insight to improve future practice. With reflection-in-action, professionals are seen as examining their experiences and responses as they occur. In both types of reflection, professionals aim to connect with their feelings and attend to relevant theory. They seek to build new understandings to shape their action in the unfolding situation. In Schon’s words: The practitioner allows himself to experience surprise, puzzlement, or confusion in a situation which he finds uncertain or unique. He reflects on the phenomenon before him, and on the prior understandings which have been implicit in his behaviour. He carries out an experiment which serves to generate both a new understanding of the phenomenon and a change in the situation. (Schon, 1983, p. 68) For Schon, reflection-in-action was the core of ‘professional artistry’ – a concept he contrasted with the ‘technical-rationality’ demanded by the (still dominant) positivist paradigm whereby problems are solvable through the rigorous application of science. A contemporary example of this paradigm is the evidence-based practice movement, which favours quantitative studies  over qualitative ones, and established protocols over intuitive practice. In Schon’s view, technical-rationality failed to resolve the dilemma of ‘rigour versus relevance’ confronting professionals. Schon’s argument, since taken up by others (e.g. Fish and Coles,1998), was as follows: Professional practice is complex, unpredictable and messy. In order to cope, professionals have to be able to do more  than follow set procedures. They draw on both practical experience and theory as they think on their feet and improvise. They act both intuitively and cr eatively. Both reflection-in and on -action allows them to revise, modify and refine their expertise. Schon believed that as professionals become more expert in their practice, they developed the skill of being able to monitor and adapt their practice simultaneously, perhaps even intuitively. In contrast, novice practitioners, lacking knowing-in-action (tacit knowledge), tended to cling to rules and procedures, which they are inclined to apply mechanically. Schon argued that novices needed to step back and, from a distance, take time to think through situations. Whether expert or novice, all professionals should reflect on practice – both in general and with regard to specific situations. Schon’s work has been hugely influential some would say ‘canonical’ – in the way it has been applied to practice and professional training and education. For example, in the health care field, Atkins and Murphy (1993) identify three stages of the reflective process. The first stage, triggered by the professional becoming aware of uncomfortable feelings and thoughts, is akin to Schon’s ‘experience of surprise’ (what Boyd and Fales, 1983, identify as ‘a sense of inner discomfort’ or ‘unfinished business’). The second stage involves a critical analysis of feelings and knowledge. The final stage of reflection involves the development of a new perspective. Atkins and Murphy argue that both cognitive and affective skills are prerequisites for reflection and that these combine in the processes of self-awareness, critical analysis, synthesis and evaluation (see Appendix 2). In the education field, Grushka, Hinde-McLeod and Reynolds (2005) distinguish between ‘reflection for action’, ‘reflection in action’ and ‘reflection on action’ (see Appendix 3). They offer a series of technical, practical and critical questions for teachers to engage with. For example, under reflection for action teachers are advised to consider their resources and how long the lesson will take (technical); how to make the resources relevant to different learning styles (practical); and to question why they are teaching this particular topic (critical). Zeichner and Liston (1996) differentiate between five different levels at which reflection can take place during teaching: 1. Rapid reflection immediate, ongoing and automatic action by the teacher. 2. Repair – in which a thoughtful teacher makes decisions to alter their behaviour in response to students’ cues. 3. Review – when a teacher thinks about, discusses or writes about some element of their teaching. 4. Research – when a teacher engages in more systematic and sustained thinking over time, perhaps by collecting data or reading research. 5. Retheorizing and reformulating – the process by which a teacher critically examines their own practice and theories in the light of academic theories. While Schon’s work has inspired many such models of reflection and categories of reflective practice, it has also drawn criticism. Eraut (2004) faults the work for its lack of precision and clarity. Boud and Walker (1998) argue that Schon’s analysis ignores critical features of the context of reflection. Usher et al (1997) find Schon’s account and methodology unreflexive, while Smyth (1989) deplores the atheoretical and apolitical quality of his conceptions. Greenwood (1993), meanwhile, targets Schon for downplaying the importance of reflection-before-action. Moon (1999) regards Schon’s pivotal concept of reflection-in-action as unachievable, while Ekebergh (2006) draws on  phenomenological philosophy to argue that it is not possible to distance oneself from the lived situation to reflect in the moment. To achieve real self-reflection, she asserts, one needs to step out of the situation and reflect retrospectively (van Manen, 1990). Given this level of criticism, questions have to raised about the wide adoption of Schon’s work and the way  it has been applied in professional practice and education (Usher et al, 1997). There have been calls for a m ore critical, reflexive exploration of the nature of reflective practice. Reflection, critical reflection and reflexivity Contemporary writing on reflective practice invites professionals to engage in both personal reflection and broader social critique. For example, work within the Open University’s Health and Social Care faculty has put forward a model whereby reflective practice is seen as a synthesis of reflection, self-awareness and critical thinking (Eby, 2000) (see figure 1). In this model, the philosophical roots of reflective practice are identified in phenomenology (with its focus on lived experience and personal consciousness) and also in critical theory (which fosters the development of a critical consciousness towards emancipation and resisting oppression ). Self-awareness Roots: phenomenology The cognitive ability to think, feel, sense and know through intuition To evaluate the knowledge derived through self-awareness to develop understanding Reflection Roots: existential phenomenology and critical theory -interpretive and critical theory tool for promoting self- and social awareness and social action improving self-expression, learning and co-operation links theory and practice Reflective Practice Critical thinking Roots: scepticism and critical theory identifying and challenging assumptions challenging the importance of context to imagine and explore alternatives which leads to reflective scepticism Figure 1 Skills underpinning the concept of reflective practice. Other authors argue for the concept of critical reflection, which is seen as offering a more thorough-going form of reflection through the use of critical theory (Brookfield, 1995). For adherents of critical reflection, reflection on its own tends to â€Å"remain at the level of relatively undisruptive changes in techniques or superficial thinking† (Fook, White and Gardner, 2006, p.9). In contrast, critical reflection involves attending to discourse and social and political analysis; it seeks to enable transformative social action and change. For Fook (2006), critical reflection  Ã¢â‚¬Å"enables an understanding of the way (socially dominant) assumptions may be socially restrictive, and thus enables new, more empowering ideas and practices. Critical reflection thus enables social change beginning at individual levels. Once individuals become aware of the hidden power of ideas they have absorbed unwittingly from their social contexts, they are then freed to make choices on their own terms.† Fook and Askeland argue that the focus of critical reflection should be on connecting individual identity and social context:  Ã¢â‚¬Å"Part of the power of critical reflection in opening up new perspectives and  choices about practice may only be realized if the connections between individual thinking and identity, and dominant social beliefs are articulated and realized.† (Fook and Askeland, 2006, p.53). For Reynolds (1998), four characteristics distinguish critical reflection from other versions of reflection : (1) its concern to question assumptions; (2) its social rather than individual focus; (3) the particular attention it pays to the analysis of power relations; and (4) its pursuit of emancipation (Reynolds, 1998). By way of example, Reynolds argues that when managers critically reflect (rather than just reflect) they become aware of the wider environment in which they operate. They begin to grasp the social power exercised by their organisation through its networks and relationships. : In the field of teaching, Brookfield (1995) characterises critical reflection as ‘stance and dance’. The critically reflective teacher’s stance toward teaching is one of inquiry and being open to further investigation. The dance involves experimentation and risk towards modifying practice while moving to fluctuating, and possibly contradictory, rhythms (Larrivee, 2000). A key concept giving momentum to the idea of reflective practice involving both personal reflection and social critique is reflexivity. Reflexive practitioners engage in critical self-reflection: reflecting critically on the impact of their own background, assumptions, positioning, feelings, behaviour while also attending to the impact of the wider organisational, discursive, ideological and political context. The terms reflection, critical reflection and reflexivity are often confused and wrongly assumed to be interchangeable. Finlay and Gough (2003, p. ix) find it helpful to think of these concepts forming a continuum. At one end stands reflection, defined simply as ‘thinking about’ something after the event. At the other end stands reflexivity: a more immediate and dynamic process which involves continuing self-awareness. Critical reflection lies somewhere in between. Previously, I’ve proposed five overlapping variants of reflexivity with critical selfreflection at the core: introspection; intersubjective reflection; mutual collaboration; social critique and ironic deconstruction (Finlay, 2002, 2003). These variants can similarly be applied to  distinguishing between the types of reflection practitioners could engage in when reflecting on practice. Reflective practice as introspection involves the practitioner in solitary self-dialogue in which they probe personal meanings and  emotions. Intersubjective reflection makes the practitioner focus on the relational context, on the emergent, negotiated nature of practice encounters. With mutual collaboration, a participatory, dialogical approach to reflective practice is sought what Ghaye (2000) calls a ‘reflective conversation’. Here, for example, a mentor and student, or members of a team, seek to solve problems collaboratively. Reflective practice as social critique focuses attention on the wider discursive, social and political context. For instance, the practitioner may think about coercive institutional practices or seek to manage the power imbalances inherent in education/practice contexts. Finally, reflective practice as ironic deconstruction would cue into postmodern and poststructural imperatives to deconstruct discursive practices and represent something of the ambiguity and multiplicity of meanings in particular organisational and social contexts. At the very least, a critical and possibly satirical gaze could be turned to challenging the ubiquitously unreflexive rhetoric of reflective practice. In practice, introspection is the dominant mode of reflective practice. Sometimes presented as merely a promising personal attribute (Loughran , 2006), it is a predominantly individualistic and personal exercise (Reynolds and Vince, 2004) in which practitioners tend to focus on their own thoughts, feelings, behaviours and evaluations. This passes as legitimate ‘reflective practice’ which professionals then can use to advance their cause to fit formal requirements for continuing professional development. While such reflective practice may take place in dialogical contexts such as supervision sessions, the onus stays on the individual practitioner to reflect upon and evaluate their own practice. What is lacking is any mutual, reciprocal, shared process. Institutional structures and quality assurance  systems encourage, perhaps even require, this individual focus. It starts early on during professional education and training where learners engage professional socialisation and are taught how to reflect, using structured models of reflection. One of the consequences of the lack of consensus and clarity about the concept of reflective practice is the proliferation of different versions and models to operationalise reflective practice.

Tuesday, January 21, 2020

Psychological Problem Associated with Cerebral Palsy :: Health, Medical Research, Stress, Depression

Psychological Problems Associated with Cerebral Palsy Cerebral Palsy is a condition that limits physical abilities. This disability affects about one child in every five hundred children (Micheksen 405). Cerebral Palsy is mostly known to affect children by severe motor impairment, however; this disorder can affect a person in a psychological way too. A cross-sectional European Study was done by a group of eleven people focusing on the psychological impact of children with cerebral palsy (Michelsen 406) Eight hundred and eighteen children between the ages of eight and twelve were involved. The main goal of the â€Å"SPARCLE† study was to investigate if cerebral palsy relates to psychological and behavioral problems. A strengths and difficulties questionnaire (SDQ) was used as one way to detect emotional and behavioral abnormalities (Michelsen 406). Along with an Impact Score (IS) that was based on questions completed by family members answering a total of twenty-five questions. The total from the Impact Score was then computed to determine if the child’s behavior was abnormal or not (Michelsen 406). The results of the SDF showed that more than twenty-five percent of children participating showed abnormal results (Michelsen 410). It also showed that children with milder cerebral palsy had higher behavioral difficulties in comparison to children with more severe cases. The reason being that severe cerebral palsy prevents certain behaviors, such as fighting or cheating (Michelsen 410). The parental impact score survey showed that almost half of all participants agreed that their child suffered difficulties. When asked how often the family was affected by the child’s cerebral palsy forty-two percent answered, â€Å"Quite a lot† (Michelsen 409). Another forty percent of parents believe their child struggles with behavior and communication skills among children their age in school (Michelsen 410). The findings from the SDQ and SI tests determined that a significant number of children with cerebral palsy suffer abnormal behaviors. This study indicates that children with cerebral palsy suffer from psychological and behavior problems when trying to communicate mostly with family and peers. Based on a research done in the Netherlands self-perception, and over-all satisfaction was tested for relevance to psychological problems due to cerebral palsy. One hundred and ten children whose age were nine, eleven, and thirteen took place in this study (Schuengel 1252) Once again the children with cerebral palsy took self-assessment surveys that included subjects such as, physical performance, appearance, and if they were satisfied with their overall abilities (Schuengel 1253).

Monday, January 13, 2020

Innovations in Financial Products Have Contributed to the Current Financial Crisis” a Discusses This Statement

â€Å"Innovations in financial products have contributed to the current financial crisis† A  discusses this statement. Introduction What is Financial Crisis? A financial crisis is when the value of a financial institutions or assets declines suddenly, where investors sell off assets or withdraw their money due to the fear that the value of the assets would drop. E. g. Of a financial crisis are: * Banking Panics * Stock market crashes * Bursting of financial bubbles * Currency crisis. (http://provimet. weebly. com/uploads/2/4/3/4/2434228/global_financial_crisis. df) What is Financial Innovations? Financial innovations are ongoing development of financial instruments designed to achieve a specific objectives, such as offsetting a risk exposure (i. e. default of a borrower) or to assist with obtaining financing. Financial innovation can either be product or process. Process are developments demonstrated by new means of distributing securities, processing transactions or pricing transactions, while product innovations embodied by new derivative contracts, new corporate securities or new form of pooled investment products.Examples that relate to the crisis include the adjustable rate mortgage . i. e. the packing of subprime mortgages into Mortgage Backed Securities (MBS) or Collateralized Debt Obligations (CDO) for sale to investors, a type of securitization and a form of credit insurance called Credit Default Swaps (CDS), Collateralized Mortgage Obligation (CMO) The use of these products extended radically in the years prime to the crisis. These products differ in complexity and the simplicity with which they can be valued on the books of financial institutions. http://www3. weforum. org/docs/WEF_FS_RethinkingFinancialInnovation_Report_2012. pdf)(http://www. scribd. com/doc/47101947/Financial-Crisis-of-2007-2010). The purpose of this assignment is to discuss how the innovations in the financial products contributed to the current financial crisis. In this paper I also examine what these financial innovations are and how they contribute to the current financial crisis. Some of these financial innovations I will look at are CDO’s, CDS, and MBS. Financial Innovation and the Financial CrisisThese are many factors played a part in the financial crisis and financial innovation was one of the factors but it did not only cause the financial crisis but to some degree it did contribute to the crisis due to it misuse and lack of information and the under pricing of the risk involve in some of the financial product. Collateralized Debt Obligations (CDO) Collateralized debt obligations are asset backed security that is package together in a different range of debt obligations or bank loans package into a financial security that is divided up into various tranches, each level having a different maturity and risk.The greater the risk, the more the CDO pays. The type of CDO tranches include; Equity, Junior, Mezzanine, and Senior tranche. The equity tranche been the riskiest level and while senior tranche is the safest of the CDO. The development of CDOs resulted in more liquidity in the economy. They permit banks to sell their debt, and freed up more capital to invest or loan. Due to the additional liquidity this eventual lead to an asset bubbles in the housing market and credits crisis. So how did the CDO play a role in the financial crisis?During the early part of the crisis CDO assets started to decrease in value due to the rise in subprime mortgage default. CDO products began to underperform, the opacity of the products with view to the character and quality of the assets that underlined their value; leading to the discouragement in the investors and also led to panic in market about exposed institutions and CDO underwriters. As a result, CDO had lets banks and other financial institutions to increase their leveraged bet on the housing market, increasing returns in the short run escalating the damage once suspicions were raised.Investors did not know the value of the CDOs they were investing into due to the complexity of the product. Synthetic CDO increase profits on the benefit as the housing boomed however, as doubts occurs; they were use as instrument investor’s utilize to creates a short position on the disadvantage of the housing market. CDOs where use to put money in the mortgage market therefore persuading investors into thinking they were investing in a safe instruments that were establish on low quality assets. The value of CDOs helped in creating the damage of the financial crisis.MBS create a void among the originator of mortgage risk and the ultimate holder of that risk, this void was considerably broad by CDOs. On the other hand Synthetic CDOs broke the link completely and permit investors to make an unrestricted number of bets on a key risk they did not understand. The complexity of the CDO and synthetic CDO structures was a problem. The cloudiness of the products made it hard to estimate the value thereby discouraged investors from fully understanding the risk that come with CDO investments. (Class Note by Joe Naughton), (http://www3. eforum. org/docs/WEF_FS_RethinkingFinancialInnovation_Report_2012. pdf) . Credit Default Swaps (CDS) A Credit Default Swaps is a credit derivative and a form of insurance policy on a bond or a loan. The protection buyer buys protection and makes regular payments just like an insurance premium, while the protection seller sells protection and takes the premium but agree to pay off the protection buyer in the event of a default . i. e. the CDS purchaser pays a fee in order to transfer the risk of a default to the CDS seller.A CDS contract can last for a number of years and obliges that the seller of the protection offer collateral to make sure that the buyer will be paid if the seller where to default. CDS offers numerous advantages to individual participants that use them to hedge risk during the financial crisis and fo llowing economic downturn. Credit default swaps play a significant role in the financial crisis by contributing to the CDO market and its difficulties. CDS permit CDO mangers to make hybrid and synthetic CDOs at a huge pace.CDS allows hedge funds to perform complex hedging and linkage that enable the purchase of junior and equity tranche. The CDS market lets investors and institutions to transfer risk, from the CDO market and elsewhere, to CDS issuers that were not in a position to assume the risk. One of the role CDS played in the financial crisis was that it was able to transfer credit risk through CDS which make it hard to estimate the riskiness of a specific intermediaries. One of the issues also was that bank were able to buys and sells CDS that was not show in their balance sheet.This lack of disclosure makes it much more problematic for a bank counterparties to tell how risky it is. The lack of transparency in the CDS market made the financial system exposed to a shock that t hreatens trust in counterparties. CDS sellers became more exposed to a collapse by several sellers; this is due to the fact that a great number of CDS were trade over the counter (OTC), instead of in an exchange. And in an OTC market it is impossible for a seller to know what several buyers are doing with others.An example is AIG was a victim of the CDS market because the firm misinterpret the risks of the CDS market and sold an excessive amount of credit protection through CDSs deprived not having an enough capital in a loss reserve. (Class Note by Joe Naughton) (http://www3. weforum. org/docs/WEF_FS_RethinkingFinancialInnovation_Report_2012. pdf) (http://www. mhhe. com/economics/cecchetti/Cecchetti2_Ch09_CDS. pdf) Mortgage Backed Security (MBS) Mortgage Backed Security is an asset backed security or a debt obligation by a mortgage or collection of mortgages loans.They are bundle together into pools and sold as a single security. This is known as securitization. .i. e. banks lend m oney to an individual to buy a house in return the bank will collects monthly payment on the loan. The loan is then sold to a bigger bank that packages the loan together into a mortgage backed security. The bank then issues shares of this security, called tranches to investors who buy then and ultimately collect the dividends in the form of a monthly mortgage payment. These tranches can be further repackaged as other securities, called collateralized debt obligations (CDO) and then sold.Mortgage backed security played a major role in the financial crisis of 2008, due to the increasing demand for MBS from investors eventually played a part in the financial market meltdown. The demand for MBS increased on mortgages of all risk, including subprime, which lead lenders to move towards the â€Å"Originate to distribute† business model, with the explicit intention of securitizing and selling the mortgages after completing them. The MBS tranches rating by the rating agencies led to b elieve that risks were understood and the investment were safe.If the MBS had not been given investment grade ratings then the degree of the financial crisis would have been significantly less. The criterion on the MBS was relax making it easy to participate, therefore the market began endorsing different types of mortgages with a more risky kind that amplified the risk of a default to MBS investors. The MBS market was not regulated which also allowed financial institutions other bank to participate in the mortgage business. Mortgage backed security have weakness that was not accurately controlled in the run up to the crisis.Originate to distribute model spark off a behavioural changes in the market, from consumers to investment banks, that were not expected but that could have been monitored and managed by the industry and its regulators. (http://www3. weforum. org/docs/WEF_FS_RethinkingFinancialInnovation_Report_2012. pdf) (http://money. howstuffworks. com/mortgage-backed-security . htm) Financial innovation can not be held solely accountable for the financial crisis but it did contribute a great deal to the crisis and to the extent of the damage.The risk associated with financial innovation was not properly calculated, inturn in more credit default to occur. Financial innovation has benefits to the economy but due to the current financial crisis financial innovation has receive a lot of negative view as a result of the misused and badly managed of the products and also due to the fact that they were insufficiently thought out and the misapplication of the innovations that might have a positive impact on the economy. But collateralized debt obligations and credit default swaps have done a lot of damage than good.Bibliography Bruno G, 2012. Rethinking Financial Innovation (online). Available from: http://www3. weforum. org/docs/WEF_FS_RethinkingFinancialInnovation_Report_2012. pdf . (20 November 2012). (Online) Available from: http://www. mhhe. com/economics/c ecchetti/Cecchetti2_Ch09_CDS. pdf. (20 November 2012). (Online) Available from: http://www. scribd. com/doc/47101947/Financial-Crisis-of-2007-2010 (12 November 2012) (Online) Available from: http://provimet. weebly. com/uploads/2/4/3/4/2434228/global_financial_crisis. pdf (12 November 2012).