Impact On Indian Banking Finance Essay - Free Essay Example

The Indian banking industry is considered as a blooming and the secure in the world. The paper deals with the banking sector reforms and it has been discussed that how far Indian banks are able to manage their risks by introduction of banking sector reforms.  Ãƒâ€šÃ‚  Further the paper has discussed an evaluation of Basel Norms and their impact on economic growth of the country since from the globalization. It will also through light on Emergence of BASEl-3 and its impact on banking in India.  The role of banks in India has changed a lot since economic reforms of 1991. These changes came due to LPG, i.e. liberalization, privatization and globalization policy being followed by GOI. Since then most traditional and outdated concepts, practices, procedures and methods of banking have changed significantly.  Competition among financial intermediaries gradually helped the interest rates to decline. Deregulation added to it. The real interest rate was maintained. The borrowers did not pay high price while depositors had incentives to save. This type of condition sometimes causes bank failure, if not properly managed. So banks need to manage their risk by proper provisioning. The introduction of Basel- Norms is one of the initiatives for that. As per RBI estimates, about a third of the total flow in the financial sector passes through the banks. Obviously, banks are an important part of the financial sector. Reforms in the financial and the banking sectors would enable better financial products. This will allow financial viability and help the econo my. Key Words: Banking Sector, Reforms, Economy, Inflation, Growth Introduction- Indian banking sector has undergone major changes and reforms during economic reforms. Though it was a part of overall economic reforms, it has changed the very functioning of Indian banks. This reform has not only influenced the productivity and efficiency of many of the Indian Banks, but has left everlasting footprints on the working of the banking sector in India. The efficient, dynamic and effective banking sector plays a decisive role in accelerating the rate of economic growth in any economy. The Government of India introduced economic and financial sector reforms in 1991 and banking sector reforms were part and parcel of financial sector reforms. These were initiated in 1991 to make Indian banking sector more efficient, strong and dynamic. Almost 80% of the business are still controlled by Public Sector Banks (PSBs). PSBs are still dominating the commercial banking system. Shares of the leading PSBs are already listed on the stock exchanges. The RBI has given lic ences to new private sector banks as part of the liberalisation process. The RBI has also been granting licences to industrial houses. Many banks are successfully running in the retail and consumer segments but are yet to deliver services to industrial finance, retail trade, small business and agricultural finance. The PSBs will play an important role in the industry due to its number of branches and foreign banks facing the constrait of limited number of branches. Hence, in order to achieve an efficient banking system, the onus is on the Government to encourage the PSBs to be run on professional lines. This chapter focuses on Indias banking sector, which has been attracting increasing attention since 1991 when a financial reform programme was launched. It assesses whether the reform programme has been successful so far in restructuring public-sector banks. Role of BASEL-The objective of the Basel Committees reform package is to improve the banking sectors ability to absorb shocks arising from financial and economic stress, whatever the source, thus reducing the risk of spillover from the financial sector to the real economy. A strong and resilient banking system is the foundation for sustainable economic growth, as banks are at the centre of the credit intermediation process between savers and investors. Moreover, banks provide critical services to consumers, small and medium-sized enterprises, large corporate firms and governments who rely on them to conduct their daily business, both at a domestic and international level. To address the market failures revealed by the crisis, the BASEL Committee is introducing a number of fundamental reforms to the international regulatory framework. The reforms strengthen bank-level, or micro prudential, regulation, which will help raise the resilience of individual banking institutions to periods o f stress. The reforms also have a macro prudential focus, addressing system wide risks that can build up across the banking sector as well as the procyclical amplification of these risks over time. Clearly these two micro and macroprudential approaches to supervision are interrelated, as greater resilience at the individual bank level reduces the risk of system wide shocks. About BASEL Norms The Basel Committee on Banking Supervision provides a forum for regular cooperation on banking supervisory matters. Its objective is to enhance understanding of key supervisory issues and improve the quality of banking supervision worldwide. It seeks to do so by exchanging information on national supervisory issues, approaches and techniques, with a view to promoting common understanding. The Committees Secretariat is located at the Bank for International Settlements (BIS) in Basel, Switzerland. The committee drafted a first document to set up an international minimum amount of capital that banks should hold. This minimum is a percentage of the total capital of a bank, which is also called the minimum risk-based capital adequacy. In 1988, the Basel I Capital Accord (agreement) was created. In 1988, BCBS(Basel committee for Banking Supervision) introduced capital measurement system called Basel capital accord, also called as Basel 1. Basel I define capital based on two tiers: Tier 1 (Core Capital): Tier 1 capital includes stock issues (or share holders equity) and declared reserves, such as loan loss reserves set aside to cushion future losses or for smoothing out income variations. It focused almost entirely on credit risk. Tier 2 (Supplementary Capital): Tier 2 capital includes all other capital such as gains on investment assets, long-term debt with maturity greater than five years and hidden reserves (i.e. excess allowance for losses on loans and leases). However, short-term unsecured debts (or debts without guarantees), are not included in the definition of capital. BASEL-1, defined capital and structure of risk weights for banks. The minimum capital requirement was fixed at 8% of risk weighted assets (RWA). RWA means assets with different risk profiles. A portfolio approach was taken to the measure of risk, with assets classified into four buckets (0%, 20%, 50% and 100%) according to the debtor category For example, an asset backed by collateral would carry lesser risks as compared to personal loans, which have no collateral. India adopted Basel 1 guidelines in 1999. Although BASEL-1was the first international instrument assessing the importance of risk in relation to capital was a milestone in the finance and banking history, even then it suffers many limitations. As fixation of 8% capital ratio to protect banks from credit risk similarly no recognition was given to risk associated with maturity of credit, risk associated with different currencies and macroeconomics risk. Due to these limitations Basel Committee decided to propose a more risk-sensitive framework in June 1999 which is known as BASEl-11 accord. BASEL-II- The objective of BASEl-11 was to promote safety and soundness in the financial system; Enhance competitive equality; Constitute a more comprehensive approach to addressing risks; and to develop approaches to capital adequacy that are appropriately sensitive to the degree of risk involved in a banks positions and activities. The Basel II capital accord is a three-pillared framework. Minimum Capital Requirement: Based on certain calculations minimum capital requirement has to be maintained. The Supervisory Review Process: The Central Bank (RBI) of the country has to ensure that each bank has an adequate capital to adopt better management techniques. Market Discipline: There should be a mandatory disclosure on risk management practices with transparency. Basel II provides three approaches of increasing sophistication to the calculation of credit risk capital; the Standardised Approach (SA), the Foundation Internal Ratings Based Approach and the Advanced Internal Ratings Based Approach (AIRB). Basel II also introduced capital requirements for operational risk (OR) for the first time. Implementation in India- The process of implementing Basel II norms in India was planned to being carried out in phases. Phase I was for foreign banks operating in India and Indian banks having operational presence outside India with effect from March 31,2008. In phase II, all other scheduled commercial banks (except Local Area Banks and RRBs) were adhere to Basel II guidelines by March 31, 2009. With the deadline of March 31, 2009 for full implementation of Basel II norms fast approaching, banks are looking to maintain a cushion in their respective capital reserves. The minimum capital to risk-weighted asset ratio (CRAR) in India was placed at 9%, one percentage point above the Basel II requirement. All the banks have their Capital to Risk Weighted Assets Ratio (CRAR) above the stipulated requirement of Basel guidelines (8%) and RBI guidelines (9%). As per Basel II norms, Indian banks should maintain tier I capital of at least 6%. The hurdles which were faced by India for implementation of BASEL-II were that first of all there is a need for improved risk management and measurement. It aims to give impetus to the use of internal rating system by the international banks. Second requirement is to arrange risk capital requirement by the banks. Also, Basel II gives some scope to extend the rating of issues to issuers, this would only be an approximation and it would be necessary for the system to move to ratings of issuers. Encouraging ratings of issuers would be a challenge. BASEL-III- Basel III released in December, 2010 is the third in the series of Basel Accords. Basel III is a comprehensive set of reform measures, developed by the Basel Committee on Banking Supervision, to strengthen the regulation, supervision and risk management of the banking sector. Its aim is to improve the banking sectors ability to absorb shocks arising from financial and economic stress, improve risk management and governance, strengthen banks transparency and disclosures. The Basel III which is to be implemented by banks in India as per the guidelines issued by RBI from time to time, will be challenging task not only for the banks but also for GOI. It is estimated that Indian banks will be required to rais Rs 6,00,000 crores in external capital in next nine years or so i.e. by 2020 Basel III is a comprehensive set of reform measures, developed by the Basel Committee on Banking Supervision, to strengthen the regulation, supervision and risk management of the banking sector. These measures aim to improve the banking sectors ability to absorb shocks arising from financial and economic stress, whatever the source improve risk management and governance strengthen banks transparency and disclosures. Features of BASL-3- The features of BASEL-III, which make it more stringent than BASEL-I and II are as follows. Basel III aim is to introduction of much stricter definition of capital. Better quality capital means the higher loss-absorbing capacity. This in turn will mean that banks will be stronger, allowing them to better withstand periods of stress. By introduction of Basel III banks will be required to hold a capital conservation buffer of 2.5%. The aim of asking to build conservation buffer is to ensure that banks maintain a cushion of capital that can be used to absorb losses during periods of financial and economic stress. The countercyclical buffer has been introduced with the objective to increase capital requirements in good times and decrease the same in bad times. The buffer will slow banking activity when it overheats and will encourage lending when times are tough i.e. in bad times. The buffer will range from 0% to 2.5%, consisting of common equity or other fully loss-absorbing capital. The minimum requirement for common equity, the highest form of loss-absorbing capital, has been raised under Basel III from 2% to 4.5% of total risk-weighted assets. The overall Tier 1 capital requirement, consisting of not only common equity but also other qualifying financial instruments, will also increase from the current minimum of 4% to 6%. Although the minimum total capital requirement will remain at the current 8% level, yet the required total capital will increase to 10.5% when combined with the conservation buffer. Under Basel III, a framework for liquidity risk management will be created. A new Liquidity Coverage Ratio (LCR) and Net Stable Funding Ratio (NSFR) are to be introduced in 2015 and 2018, respectively. Comparison of Basel-II and Basel-III Requirements Under Basel II Under Basel III Minimum Ratio of Total Capital To RWAs 8% 10.50% Minimum Ratio of Common Equity to RWAs 2% 4.50% to 7.00% Tier I capital to RWAs 4% 6.00% Core Tier I capital to RWAs 2% 5.00% Capital Conservation Buffers to RWAs None 2.50% Leverage Ratio None 3.00% Countercyclical Buffer None 0% to 2.50% Minimum Liquidity Coverage Ratio None TBD1 (2015) Minimum Net Stable Funding Ratio None TBD1 (2018) Systemically important Financial Institutions Charge None TBD1 (2011)          (TBD-To be Determined)1 Literature Review- Several previous studies describe the reform effort and the inefficiency of the banks. IMF (2004 and 2005) provides an overview of the most recent reforms and Barnett (2004) reviews the structure and recent developments in the banking sector. For a review of previous banking system reforms, since the mid-1990s, see Karacadag (2003). Strengthening financial systems has been one of the central issues facing emerging markets and developing economies. This is because sound financial systems serve as an important channel for achieving economic growth through the mobilization of financial savings, putting them to productive use and transforming various risks (Beck, Levin and Loayza 1999; King and Levin 1993; Rajan and Zingales 1998; Demirg-Kunt, Asli and Maksimovic 1998; Jayaratne and Strahan 1996). Many countries including India adopted a series of financial sector liberalization measures in the late 1980s and early 1990s that included interest rate liberalization, entr y deregulations, reduction of reserve requirements and removal of credit allocation. It has been argued by a number of economists that a well-developed financial system enables smooth flow of savings and investments and hence, supports economic growth (see King and Levine, 1993, Goldsmith, 1969). A healthy financial system can help achieve efficient allocation of resources across time and space by reducing inefficiencies arising out of market frictions and other socio-economic factors. Analysis of BASEL-III in Indian Context- Presently, a banks capital comprises Tier 1 and Tier 2 capital with a restriction that Tier 2 capital cannot be more than 100% of Tier 1 capital. Within Tier 1 capital, innovative instruments are limited to 15% of Tier 1 capital. Further, Perpetual Non-Cumulative Preference Shares along with Innovative Tier 1 instruments should not exceed 40% of total Tier 1 capital at any point of time. Within Tier 2 capital, subordinated debt is limited to a maximum of 50% of Tier 1 capital. However, under Basel III, with a view to improving the quality of capital, the Tier 1 capital will predominantly consist of Common Equity. At present, the regulatory adjustments (i.e. deductions and prudential filters) to capital vary across jurisdictions. A revised version of this document was issued in June 2011, generally applied to total Tier 1 capital or to a combination of Tier 1 and Tier 2 capital. They are not generally applied to the Common Equity component of T ier 1 capital. With a view to improving the quality of Common Equity and also consistency of regulatory adjustments across jurisdictions, most of the adjustments under Basel III will be made from Common Equity The qualifying criteria for instruments to be included in Additional Tier 1 capital outside the Common Equity element as well as Tier 2 capital will be strengthened. This requirement will improve the market discipline under Pillar 3 of the Basel II framework The minimum Common Equity, Tier 1 and Total Capital requirements will be phased-in between January 1, 2013 and January 1, 2015, as indicated below. As a percentage of risk weighted assets.(RWA) January 1,2013 January 1,2014 January 1,2015 Minimum Common equity Tier-1 Capital 3.5% 4% 4.5% Minimum Tier-1 Capital 4.5% 5.5% 6% Minimum total Tier-1 Capital 8% 8% 8% Implementation of Basel III is expected to result in a decline in Indian banks Roe [return on equity] in the short term, Governor Subbarao said, speaking at a banking conference in Mumbai, while stressing that the reforms would benefit Indias overall financial system in the longer term. The global Basel III requirements, which require all banks to hold top quality capital equal to 7 per cent of their assets, adjusted for risk, are aimed at improving financial stability and avoiding a repeat of the crisis of 2008. But the sharply higher capital requirements have drawn warnings from analysts and financiers about their impact on banking lending rates and wider economic growth across the developing world. Conclusion- By implementation of the Basel III norms, the capital of many banks will reduce by around 60% because of the phased removal of certain components of capital from Tier 1. In addition, the risk weightings are expected to grow by nearly 200%. The twin impact of these two stipulations will greatly reduce the ROE and the profitability of banks. The proposed shift from short-term to long-term liquidity will increase the cost of funds for the banking system. This will further squeeze the banks profit margins. One of the basic tenets of prudent banking is to borrow long and lend short. There must be a match between the duration of liabilities and the duration of assets, which is at the heart of asset-liability management. Long duration assets were acquired with short duration funding. However, it is a known fact that illiquid banks will soon become insolvent. The leverage ratio of Indian banks is moderate, and hence, not a cause for concern. However, with capital dilution, increased risk weightings and ceilings on derivative trading, the new leverage ratio will impact the lending capability of the banks. As India is a developing economy, the shrinkage of bank credit can set in recessionary trends. Further, the developmental agenda of the Indian banks will take a backseat in such a situation. While systemic stability is welcome, it cannot be at the cost of the larger economic goals of poverty alleviation, employment generation, priority sector lending and balanced regional growth. Therefore, it is opined that the new regime of prudential regulations will result in greater stability of the banking industry in various countries. Exercising controls on the capital, liquidity and leveraging of banks will ensure that they have the ability to withstand crises.

Facts You Should Know About the Holocaust

The Holocaust is one of the most notorious acts of genocide in modern history. The many atrocities committed by Nazi Germany before and during World War II destroyed millions of lives and permanently altered the face of Europe.   Holocaust Key Terms Holocaust: From the Greek word holokauston, meaning sacrifice by fire. It refers to the Nazi persecution and planned slaughter of the Jewish people and others considered inferior to true Germans.Shoah: A Hebrew word meaning devastation, ruin or waste, also used to refer to the Holocaust.Nazi: German acronym standing for Nationalsozialistishe Deutsche Arbeiterpartei (National Socialist German Workers Party).Final Solution: Nazi term referring to their plan to exterminate the Jewish people.Kristallnacht: Literally Crystal Night or The Night of Broken Glass, refers to the night of November 9-10, 1938 when thousands of synagogues and Jewish-owned homes and businesses in Austria and Germany were attacked.Concentration Camps: Although we use the blanket term Concentration Camps there were actually a number of different types of camps, with different purposes. These included extermination camps, labor camps, prisoner-of-war camps, and transit camps. Introduction to the Holocaust Adolf Hitler, chancellor of Germany, is welcomed by supporters at Nuremberg in 1933. Hulton Archive/Stringer/Getty Images   The Holocaust began in 1933 when Adolf Hitler came to power in Germany and ended in 1945 when the Nazis were defeated by the Allied powers. The term Holocaust is derived from the Greek word holokauston, which means sacrifice by fire. It refers to the Nazi persecution and planned slaughter of the Jewish people and others considered inferior to true Germans. The Hebrew word Shoah, which means devastation, ruin or waste, also refers to this genocide. In addition to Jews, the Nazis targeted the Roma, gays, Jehovahs Witnesses, and the disabled for persecution. Those who resisted the Nazis were sent to forced labor camps or murdered. The word Nazi is a German acronym for Nationalsozialistishe Deutsche Arbeiterpartei (National Socialist German Workers Party). The Nazis sometimes used the term Final Solution to refer to their plan to exterminate the Jewish people, although the origins of this are unclear, according to historians. Death Toll According to the U.S. Holocaust Memorial Museum, up to 17 million people were killed during the Holocaust, but no single document exists recording the total number. Six million of these were Jews—approximately two-thirds of all Jews living in Europe. An estimated 1.1 million children died in the Holocaust. Number of Holocaust Deaths The following statistics are from the U.S. National Holocaust Museum. As more information and records are uncovered, it is likely that these numbers will change. All numbers are approximate.6 million Jews5.7 million Soviet civilians (an additional 1.3 Soviet Jewish civilians are included in the 6 million figure for Jews)3 million Soviet prisoners of war (including about 50,000 Jewish soldiers)1.9 million Polish civilians (non-Jewish)312,000 Serb civiliansUp to 250,000 people with disabilities196,000 to 220,000 Roma1,900 Jehovahs WitnessesAt least 70,000 repeat criminal offenders and asocialsAn undetermined number of German political opponents and activists.Hundreds or thousands of gays and lesbians (might be included in the possibly also 70,000 repeat criminal offenders and asocials number above). The Beginning of the Holocaust On April 1, 1933, the Nazis instigated their first action against German Jews by announcing a boycott of all Jewish-run businesses. The Nuremberg Laws, issued on Sept. 15, 1935, was designed to exclude Jews from public life. The Nuremberg Laws stripped German Jews of their citizenship and prohibited marriages and extramarital sex between Jews and Gentiles. These measures set the legal precedent for anti-Jewish legislation that followed. Nazis issued numerous anti-Jewish laws over the next several years. Jews were banned from public parks, fired from civil service jobs, and forced to register their property. Other laws barred Jewish doctors from treating anyone other than Jewish patients, expelled Jewish children from public schools, and placed severe travel restrictions on Jews. Kristallnacht: The Night of Broken Glass Shattered fronts of Jewish-owned stores in Berlin after Kristallnacht. Bettmann/Getty Images   Overnight on November 9 and 10, 1938, the Nazis incited a pogrom against Jews in Austria and Germany called  Kristallnacht  (Night of Broken Glass, or literally translated from German, Crystal Night). This included the pillaging and burning of synagogues, the breaking of windows of Jewish-owned businesses and the looting of those stores. In the morning, broken glass littered the ground. Many Jews were physically attacked or harassed, and approximately 30,000 were arrested and sent to concentration camps. After World War II started in 1939, the Nazis ordered Jews to wear a yellow Star of David on their clothing so they could be easily recognized and targeted. Gays and lesbians were similarly targeted and forced to wear pink triangles. Jewish Ghettos The Lublin Ghetto in Poland. Bettmann/Getty Images After the beginning of World War II, Nazis began ordering all Jews to live in small, segregated areas of big cities, called ghettos. Jews were forced out of their homes and moved into smaller dwellings, often shared with one or more other families. Some ghettos were initially open, which meant that Jews could leave the area during the daytime but had to be back by a curfew. Later, all ghettos became closed, meaning that Jews were not allowed to leave under any circumstances. Major ghettos were located in the cities of Polish cities of Bialystok, Lodz, and Warsaw. Other ghettos were found in present-day Minsk, Belarus; Riga, Latvia; and Vilna, Lithuania. The largest ghetto was in Warsaw. At its peak in March 1941, some 445,000 were crammed into an area just 1.3 square miles in size. Regulating and Liquidating the Ghettos In most ghettos, Nazis ordered the Jews to establish a Judenrat (Jewish council) to administer Nazi demands and to regulate the internal life of the ghetto. The Nazis routinely ordered deportations from the ghettos. In some of the large ghettos, 1,000 people per day were sent by rail to concentration and extermination camps. To get them to cooperate, the Nazis told the Jews they were being transported elsewhere for labor. As the tide of World War II turned against the Nazis, they began a systematic plan to eliminate or liquidate the ghettos they had established, by a combination of mass murder on the spot and transferring the remaining residents to extermination camps. When the Nazis attempted to liquidate the Warsaw Ghetto on April 13, 1943, the remaining Jews fought back in what has become known as the Warsaw Ghetto Uprising. The Jewish resistance fighters held out against the entire Nazi regime for 28 days, longer than many European countries had been able to withstand Nazi conquest. Concentration Camps Although many people refer to all Nazi camps as concentration camps, there were actually a number of different kinds of camps, including concentration camps, extermination camps, labor camps, prisoner-of-war camps, and transit camps. One of the first concentration camps was in Dachau, in southern Germany. It opened on March 20, 1933. From 1933 until 1938, most of the people held in concentration camps were political prisoners and people the Nazis labeled as asocial. These included the disabled, the homeless, and the mentally ill. After Kristallnacht in 1938, the persecution of Jews became more organized. This led to the exponential increase in the number of Jews sent to concentration camps. Life within Nazi concentration camps was horrible. Prisoners were forced to do hard physical labor and given little food. Prisoners slept three or more to a crowded wooden bunk; bedding was unheard of. Torture within the concentration camps was common and deaths were frequent. At a number of concentration camps, Nazi doctors conducted medical experiments on prisoners against their will. Death Camps While concentration camps were meant to work and starve prisoners to death, extermination camps (also known as death camps) were built for the sole purpose of killing large groups of people quickly and efficiently. The Nazis built six extermination camps, all in Poland: Chelmno, Belzec, Sobibor, Treblinka, Auschwitz, and Majdanek. Prisoners transported to these extermination camps were told to undress so they could shower. Rather than a shower, the prisoners were herded into gas chambers and killed. Auschwitz was the largest concentration and extermination camp built. It is estimated that 1.1 million people were killed at Auschwitz.

corporate governance - 1590 Words

Table of Contents ç› ®Ã¥ ½â€¢ Executive Summary: Corporate governance is an essential part of modern company operations and management , it relates to business ethics, code of conduct and system to manage a company. However, there are many corporate scandals due to the failure of corporate governance. This report analyzes the corporate governance from multiple aspects. It is through the understanding the relationship between corporate governance and business ethics, evaluating the ASX principles as a guidelines to corporate governance and analyzing the National Australia Bank’s corporate governance. ASX principles referring to problems such as business ethics, code of conduct, diversity and risk management are explained with analyzing†¦show more content†¦The ASX gives some detailed suggestions for the rules, such as board and senior executives should make a commitment to the code of conduct, and explain how the company copes with practical and possible conflict of interest. These suggestions allow corporation execu tives know more detailed information about how to make a promote ethical and responsible decision(ASX2010, pp22-25). 3.2 Principle 4—Oversight corporation operation with an audit committee Corporations should set up an effective audit committee to oversight the company operation. If company lack of an effective governance mechanism will lead to manager’s corruption. There is a conflict interests and a lack of surveillance of management by the audit committee contributed to the Enron collapse in 2001(Li,2010,p37). ASX gives some recommendations about how to make up an effective audit committee. An effective audit committee should be constituted all of non-executive directors ,a majority of them are independent directors, and there are at least there members. These ways can effectively improve the quality of financial report, establish an honest atmosphere, and improve the confidence of public to financial report’s truth and objectivity. An effective audit committee also should have a formal charter to more competently perform the audit committee’s duties(ASX,2010,pp26-28). These recommendations make corporate governance under oversight to take a mor e ethical operation. 3.3 Principle 7—RiskShow MoreRelatedCorporate Governance976 Words   |  4 PagesCorporate Governance Corporate Governance is the relationship between the shareholders, directors, and management of a company, as defined by the corporate character, bylaws, formal policies and rule laws. The corporate governance system was designed to help oversee the decisions and best interest of the shareholders. The system should works accordingly: The shareholders elect directors, who in turn hire management to make the daily executive decisions on the owner s behalf. 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Impacts of Service-Learning on College Students Essay

The functional area of service-learning is currently emerging as an acknowledged department at an institution of higher education. The theoretical roots of service learning go back to John Dewey, and the early twentieth century. However, current research on service-learning pedagogy dates back only to the early 1990’s. Best practices for the field are still being created as more and more new offices are springing up on campuses throughout the United States and institutions internationally. The reason this functional area is becoming ever popular is due to the positive impact it has on students and most all educational outcomes. Service-learning is considered both academic and co-curricular. Academic service learning is credit bearing†¦show more content†¦The biggest impact is with the students’ civic engagement. However, outcomes of service- learning do not end there. Outcomes of service-learning range from academic to moral to life skills and all outcomes that fall within (Eyler Giles, 1999). Academic Outcomes Some of the academic based outcomes of college that are impacted by service-learning include knowledge application, content understanding, critical thinking, and even grade point average. Astin and Sax (1998) identified ten academic outcomes affected by service participation, and all ten were positively affected by service. In their study, grade point average, retention, aspirations for educational degrees, graduate school prep, general knowledge, discipline knowledge, time devoted to studying, extra credit, and faculty contact all showed varying increases due to service participation. Eyler and Giles (1999) discuss how students in their study perceived themselves to identify social issues easier due to service-learning participation, which is the first step in critical thinking ability. Students were also more likely to think critically about these social issues when their service was linked to a particular social problem. There is little research connected to critical thinking and service learning, but the small amount that there is indicates some increases in critical thinking ability. Students who participated inShow MoreRelatedAnnotated Bibliography of Articles on Service Learning839 Words   |  3 PagesService Learning Annotated Bibliography American Association of Community Colleges. (2011). Service Learning. HYPERLINK http://www.aacc.nche.edu www.aacc.nche.edu. The source offered by the American Association of Community Colleges (AACC) details the growing emphasis on service learning in higher-education contexts. Particularly, the source offers a number of statistical figures indicating that 60% of all community colleges offer some comprehensive form of service-learning curriculum. ThisRead MoreImportance Of Community College Oss892 Words   |  4 PagesAlison Mahfouz Bergen Community College 400 Paramus Road, Paramus, NJ 07652 Ciarco Campus: 355 Main Street, Hackensack, NJ 07601 Lyndhurst Campus:1280 Wall Street West, Lyndhurst, NJ 070701 Jennifer E. Flynn, M.A., Coordinator, jflynn@bergen.edu, Office of Specialized Services, Room L-119 B,Tel: (201) 493-3778 Two-year community college The OSS services about 10% of the student population. Accommodations may include one or more of the following:Extended Time for Test Taking, Use of CalculatorRead MoreDeveloping An Outcomes Based Assessment Plan For A Student Programming Board752 Words   |  4 PagesLiterature: This section will discuss the importance of building a culture of evidence in student affairs and will examine best practices for developing an outcomes-based assessment plan for a student programming board. The term â€Å"culture of evidence† refers to a commitment among student affairs professionals to use hard data to show how the programs they offer, the processes they implement, and the services they provide are effective and contribute significantly to an institution s ability to reachRead MoreThe Importance Of Student Achievement1667 Words   |  7 PagesIn today’s society, it is important that all students are provided with the opportunity to receive a quality education. The focus on improved student achievement places pressure on educators to research and find ways for students to acquire needed skills to become academically successful in the classroom setting. One of the biggest challenges for educators is to explore ways for the low performing students to meet the established levels of achievement. This process requires a commitment from allRead More Service Learning in College Essay1641 Words   |  7 PagesService Learning in College Service learning provides college students with a whole new method of learning. This type of learning provides a student with an experience outside of the classroom in their area of concentration. Emily Knab, a college student at the University of Miami, has experienced service learning and found it very beneficial in her area of interest. Emily is studying education and wants to become a teacher in the future. She performed her service learning atRead MorePedagogical Journal Essay1038 Words   |  5 Pagesto pilot the service-learning/community-based teaching student evaluation of teaching and learning (SET) instrument we have developed through the Center for Civic Engagement and the Center for Service-Learning. My long-term goal is to strive to have all of my scholarly work contribute to social and educational innovations that benefit humanity and support the sustainability of our fragile planet. Appendix B: Photos of Advising, Teaching, Research, Service Civic Engagement c. Service to the SchoolRead MoreStatement Of Service To The School Of Management And To Nazareth University904 Words   |  4 Pagesc. Service to the School of Management and to Nazareth College: Organizational Citizenship Entrepreneurial Efforts I have served the College and the SoM in a variety of roles. Within the College I have served on both elected and appointed committees and other â€Å"entrepreneurial efforts† through ad hoc committees and in consultation roles. Examples of the latter include the College 2020 taskforce and co-convener of the nascent social innovation group (See C.V. for a complete listing). My most enduringRead MoreBenefits Of A University College1061 Words   |  5 PagesUniversity colleges create a seamless transition between one point in life (typically high school) and another (the collegiate academic environment). Students should feel higher levels of attachment to the institution, their faculty, fellow students, and the learning environment because the institution is investing into a model of student-centered ideas and actions. More importantly, such student-centered decisions are linked to educationally purposeful activities that affect student engagement.Read MoreThe Greatest Challeng e For American Higher Education1582 Words   |  7 Pagessuccess of developmental education students. Having a postsecondary degree is often the difference between having a career and living comfortably or holding a minimum wage job and struggling to make ends meet. Gabriel (2008), reports that nearly half of higher education students do not have the necessary skills needed in reading to perform successfully and faculty insist these students are not prepared. Community colleges plays a pivotal role in education and give students the opportunity to sharpen theirRead MoreComparing The Philosophies Of The Institutions1338 Words   |  6 PagesUniversity 2016 The Division of Student Affairs Enrollment Management supports student academic and personal success through strategic recruitment and retention initiatives. The Division makes efforts to ensure student welfare and provide opportunities for engagement, leadership, and services that promote persistence through the collegiate experience in preparation for the entirety of their lives.† â€Å"According to Northern Illinois University 2016 Inspire students to discover and pursue their aspirations

A Beautiful Mind a Case Study Essay - 1714 Words

Running head: A BEAUTIFUL MIND 1 A Beautiful Mind: A Case Study A BEAUTIFUL MIND 2 Diagnostic Impression: Axis I 295.30 Schizophrenia, Paranoid Type, Continuous Axis II V71.09 No Diagnosis Axis III None Axis IV Psychosocial and Educational Stressors Axis V GAF = 55 (highest level in past 30 years) Case Study: John Nash suffers from Paranoid Schizophrenia. He is a gifted mathematician who began graduate school at Princeton University in 1947. We will begin Mr. Nash’s history from this point in time, for it is here that his symptoms first began to emerge. During this time in his life he is in what is known as the prodromal phase of schizophrenia, which is a period before active†¦show more content†¦In 1953, Mr. Nash was summoned to the pentagon to help decipher intercepted Russian messages, and it was upon leaving that he first noticed a mysterious man by the name of William Parcher, who is actually another hallucination. Parcher later approaches Mr. Nash at night and takes him to what appears to be a code breaker lab set up in an old warehouse. It is here that he is asked if he will help the Department of Defense by deciphering codes in certain newspapers and periodicals, at which time a devise is implanted into his arm. However, this entire experience is nothing more than an elaborate delusion and hallucination. Mr. Nash accepts this assignment, and gradually he becomes completely fixated on doing nothing except code extraction. Around this same time he is asked to dinner by one of his students, Alicia, whom he is almost immediately intrigued by. It is while on this date that his delusional content shifts. Up to this point, his delusions and hallucinations had, for the most part, played into his grandiosity, however, this night, a persecutory theme emerges, as he notices suspicious men watching him. He continues to see Alicia, while at the same time remaining engrossed in his secret life of code breaking and paranoia. Mr. Nash eventually asks Alicia to marry him, and at the ceremony he sees Parcher parked across the street watching him. Not long after this, while making a package drop-off, a frantic Parcher, who informs him that theyShow MoreRelatedBeautiful Mind Case Study754 Words   |  4 Pagestouch with reality. Although schizophrenia is not as common as other mental disorders, the symptoms can be very disabling (National Institute of Mental Health, 2017). The thematic presence of paranoid schizophrenia in Sylvia Nasar’s â€Å"Beautiful Mind† resonates as a case study regarding this disorder. The lead character, John Forbes Nash, Jr. has always had intelligence on his side. He took the fast track academically and was a well-known laurate. There are several things that comes with brilliance, itRead MoreEssay on A Beautiful Mind: Case Study of Schizophrenia1118 Words   |  5 Pages â€Å"A Beautiful Mind† movie is based on the case study of real life mathematician John Nash who suffered from schizophrenia. The aspects of schizophrenia affected John Nash in many ways. Ethics is defined in the textbook as, â€Å"Are the tools or behaviors that one employs to achieve a desired outcome. Means can be either good or bad. Ends are those outcomes that one desires to achieve†(Polgar Thomas, 2008). The movies case study, include the sign and symptoms, social effects and treatment of schizophreniaRead MoreMessage Appeals Used in Advertising1303 Words   |  6 PagesWhat Message Appeals would you use for the following Products? Design One Liner Punch lines: 1. Study Table in Household. 2. Cosmetic Surgery. Message Appeals: Berknan and Gilson Defined advertising appeals as an attempt at creativity that inspires consumers motives for purchase and affects consumer’s attitude towards a specific product or service. Message appeals are used in Advertising Messages to draw the consumer’s attention to his or her, own unmet needs and desires. Appeals can beRead MoreLife Is Beautiful : How Can Life Be Beautiful?1319 Words   |  6 PagesLife is Beautiful Part of the human existence is questioning the purpose of our being. Constantly bombarded by emotions of love and joy paralleled by relentless hate and depression may create a war of confusion in our own minds. Though our minds face this confusion in processing these emotions to better understand life in its complexity, there is a common expression stating that life is beautiful. Though, the common expression says that life is beautiful. How can life be beautiful when presentingRead MoreIs Theology A Religion?1625 Words   |  7 Pages Thielicke begins by pointing out how many ordinary Christians have a strong prejudice against theology, warning those who study it about being corrupted by their unbelieving and godless professors (3). He explains that while it may be easy for a young theologian to brush these sorts of concerns off as naive and uninitiated. However, Thielicke maintains that the young theologian ought to carefully consider them. For if it is true that theology has n othing to do with the common people then thereRead MoreFilm Analysis : A Beautiful Mind1564 Words   |  7 PagesA Beautiful Mind (Grazer, Howard, Howard, 2001) is a film about the life of John Nash Jr. John Nash was a mathematician studying at Princeton University on a Carnegie Scholarship in 1947. The film portrays Nash’s academic journey, career, and personal life. As an adult, John Nash was diagnosed with schizophrenia. 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Through reducing dopamine levels through antipsychotic drug treatmentRead MoreThe Age Of Reason By Thomas Paine Essay1551 Words   |  7 Pagesno matter what the faith or the source of the belief: â€Å"I do not believe in the creed professed by the Jewish church, by the Roman church, by the Greek church, by the Turkish church, by the Protestant church, nor by any church that I know of. My own mind is my own church. All national institutions of churches, whether Jewish, Christian, or Turkish, appear to me no other than human inventions, set up to terrify and enslave mankind, and monopolize power and profit.† (page 654) Paine believes that allRead MoreAnalysis Of The Movie Legally Blonde 800 Words   |  4 PagesCritique of â€Å"Legally Blonde† â€Å"Legally Blonde† is a wonderful musical because the colorful scenes gives audience a visual enjoyment, and the beautiful music gives them a fresh acoustic experience. â€Å"Legally Blonde† is presented by Performance Riverside and RCC Fine Performing Arts. It is directed and choreographed by Roger Castellano, and the musical director is Dennis Castellano. I went to watch this great show, which was performed at RCC’s Landis Performing Arts Center, on September 27,2014 atRead More Diet Pills Essay examples1010 Words   |  5 PagesToday In todays materialistic driven society, people are judged in every possible aspect. From their appearance, background, social status, way or thinking to their friends, families. The need to be accepted and admired by others captivates the minds of many men and women of today. This conquest for social acceptance becomes so real that the idea then becomes an obsession. The way we look plays a big role in our lives. It determines the way others see us and from that, it will then determine

Marijuana Tax Act Free Essays

Marijuana was declared an illegal drug in the USA with the passing of the Marijuana Tax Act in 1937 under dubious circumstances. 1 Since that time numerous studies have shown that the drug is less harmful than tobacco and alcohol. Despite the available evidence and the enormous cost of enforcing the marijuana ban, it is hard to understand why this relatively harmless drug continues to remain illegal in the United States. We will write a custom essay sample on Marijuana Tax Act or any similar topic only for you Order Now This essay argues why marijuana should be decriminalized without further delay. Opponents of legalizing marijuana contend that it is a dangerous drug; this is far from the truth. For example, there has not been a single recorded case of death due to marijuana overdose. On the other hand, a legal intoxicant like alcohol results in the death of about 5,000 persons every year due to overdose. The reason for this is that the ratio of cannabinoids2 necessary for intoxication is 40,000:1 while that for alcohol is generally between 4:1 and 10:1. (â€Å"Answers To†¦ ,† 2005) As such marijuana is one of the least toxic substances and would have to be consumed in physically impossible quantities to prove fatal. As for the health effects of marijuana, a World Health Organization (WHO) Study, which was scheduled to be published in December 1997 but was suppressed by its top management due to political pressure, had reported that Cannabis fared better than alcohol and nicotine in five out of seven comparisons of long-term damage to health. (Concar, 1998) In terms of addictiveness too, most studies show that marijuana was less addictive than alcohol, nicotine and caffeine. (Quoted in â€Å"Study Compares†¦ ,† 1994) A common myth about marijuana is that it acts as a ‘gateway’ drug, i. . , marijuana use leads to use of harder drugs such as heroin or cocaine. This theory is disproved by the fact that after the legalizing of marijuana in Holland in the 1970s, heroin and cocaine use declined markedly, despite a slight increase in marijuana use. If the ‘gateway’ theory were true, the use of hard drugs should have gone up rather than down. (â€Å"Answers to†¦ † 2005) Other charges against marijuana, based mainly on prejudiced and unreliable studies, are that it contributes to an escalation in crime and is responsible for increased driving accidents. The linkage between marijuana and crime is absolutely false because, if anything, marijuana actually lessens aggressiveness in the user. Only â€Å"driving under the influence of marijuana† could be hazardous but it is far less problematic as drunken driving. (Ibid. ) Enforcing the ban against marijuana in the US costs the tax payers as much as $ 12 billion annually; it also diverts the energies of the law enforcing agencies that would be better served in fighting the spiraling crime rates in the country’s cities. This is reflected in the fact that there have been nearly 6. 5 million marijuana arrests in the United States since 1993,3 far exceeding the total number of arrests for all violent crimes combined, including murder, rape, robbery, and aggravated assault. (â€Å"Marijuana Prohibition Facts,† 2004) Apart from the ‘direct’ estimated cost of $ 12 billion that would be saved by legalizing marijuana, the government would also be able to collect a considerable amount of money by way of taxes. Moreover, de-criminalizing of the drug would eliminate much of the underground criminal network in the country that gives rise to numerous social problems such as spreading corruption and graft among the law enforcing agencies. It is unfortunate that policy makers and law enforcers have failed to learn the lessons of Prohibition of alcohol in the 1920s when a similar ban against alcohol had escalated crime to astronomical levels and deprived the government of much needed tax revenue. It would, therefore, not be wrong to conclude that the rationale behind the continuing criminalization of marijuana is based on false premises and difficult to defend. Most scientific studies have conclusively shown that marijuana is a far less harmful drug than alcohol and tobacco. The cost of enforcing the existing harsh laws against marijuana possession is unnecessary and diverts the attention of the American justice system, which would be better served in fighting violent crime and terrorism. As such, there is no reason why marijuana should not be legalized forthwith. How to cite Marijuana Tax Act, Essay examples

Accounting System in Australian Banks-Free-Samples for Students

Question: Discuss how the Information Technology has affected the Accounting System in Australian Banks? Answer: Literature Review Introduction Banking industry is the heart of every strong economy and IT and communication is an inherent part of banking. To cope up with the development on a global scale, modify the system of customer service delivery, lessen the cost of transaction, Australian banks have started investing to implement information and communication technology. Adopting the implementation of ICT has been beneficial for providing a wide range of services and goods. Developing the information and communication technology tools has a notable effect on the development of customer- friendly banking services. Due to globalization and competition in the banking industry by the service providers it has become necessary to understand the aspect of customer behavior after responding to the customer service delivery. This paper reflects the review of the previous researchers to analyze the impact of information and communication technology on the accounting system. Customer service and satisfaction are the prime factors of this research along with the impact of banks performance and delivery of customer service in the banking sector is a wide area. While, the areas related to the customer point of view are considered to be less debatable (Asongu, 2014). Background To understand and scrutinize the impact of the information and communication technology on the performance of the Australian bank, the researcher reviewed several journals, literature and articles regarding the subject. Due to the recent competition and globalization banks these days have started offering 24 hours of services but still there arises question about safety and inconvenience. Information and communication technology tends to offer the services like reducing of payroll expenses and increasing the market share along with the profit and revenue. The crisis situation has lead to reduction in income of the banks and strategic responses are also hampered. The trend of internal cost cutting, accusation and mergers seem to alter the shape of banking industry. The paper shows if the banks have had enough income and providing high quality services. It finds out the significance and impact on the performance of the bank and the delivery of customer service. The important issues tha t can help in preventing the customers from facing inconvenience are ease of use and being compatible with the life style (Gossart, 2015). Aim and objectives The aim of this research is to identify the characteristic of the customers in contemporary banking industry, find out the factors influencing the service availability of customers after adopting ICT and to analyze the strategies that can help in reducing the challenges faced by the Australian banks. Role of ICT in Banking Whenever there is any crisis the bank suffers insufficiency. Improvised information and communication technology which is supported by a better control of mechanism is needed to convince that information and communication technology has attained the necessary process of insufficiency. A review of some literature by researchers showed that information and communication technology or ICT might have a negative impact on the efficiency of banks and lead to a decrease in productivity. As ICT has become modernized, there is outstanding improvement in the overall procedure of the banks. Development of the banks worldwide has decreased the value and transfer of global funds. Such banks that use ICT related products like information exchange, electronic payments, security investments, online banking and financial organizations can provide the best quality of customer services with much lesser effort (Heeks, Subramanian Jones, 2015). The two beneficial outcomes for the merging of ICT and bank s performance are- ICT is responsible for lowering the operational cost of banks. For example, internet facilities in banks have sped up their system and have accomplished standard value with extra transaction like payment of bills and enquiring about balance through online. ICT can also help in promotion of transaction among customers who are in the same network. ICT has totally amended the shape and size of competition in the banking sector. According to some researcher it is claimed that the positive impacts of ICT expenses to business value are approved. The interest of network effect is remarkable in using the ATMs or Automated Teller Machines. The influence of the evolution of ICT on the cost effectiveness and profit of the banking sector within a time period, describes the relationship between the usage of ICT, cost savings and productivity. ICT or information communication technology has a large impact on the level of firm. It is determined that IT capital contributes to 81% of increase in output and non IT capital contributes to 6%. In the same way it is elucidated that information system professionals are more than double the productivity of the non information system professionals (Holtgrewe, 2014). Challenges of IT application The significant changes in banking sector have forced them to improvise their services and strategies. The primary challenge faced by the banks are to hold on to advancing ICT for creating and retaining long term relationship with customers by adopting new techniques that help in electronic banking. The review has showed that ICTs are an appropriate medium for operation of banking activities with the customers because of saving cost and the speed at which information is disseminated. Global banking industry is the most updated industry with respect to the usage of mobile and internet technologies. Most of the countries, especially the developing ones are yet to embrace the technologies (Khan Fasih, 2014). Due to this reason both the banks and the customers are likely to face hurdles. There are certain factors which indicate that banking sector can use their self- service technologies for building relationships. The infrastructure of Australian banks is another challenge faced by the m which should be better in order to serve the customers better. Their need to associate for new technological equipments will provide a standard service on part of the banks. They also need to improve their IT system and develop the operational activities of the bank. There is a need for them to modify the contemporary telecommunication infrastructure. Governments and the Australian citizens need to be more aware for gaining long term investments in the telecommunication industry. They should also emphasize on the maintenance of the previous infrastructure and the equipments (Moradi-Motlagh Babacan, 2015). Consumers behavior Consumer behavior is such a characteristic that needs regular observation. Standard of living, urbanization, increase in awareness, deregulation, globalization, has resulted in the increase of preference change which has forced the banks to change their original features of products and the customer service delivery. Observing and studying consumer behavior is necessary in the banking sector to know about the needs and wants of the customers so that the services can be offered accordingly. Customers have their demand in a specific segment and banks need to study their characteristic in order to meet that specific demand (Salahuddin, Alam Ozturk, 2016). Research questions To what extent has IT affected the financial performance of Australian banks? To what extent the use of IT has helped the employees of Australian banks in their operational activities? Methods of analysis The research could be done with a proper plan and methodology by collecting secondary data. It refers to the data collected from the journals, books or articles of the previous researches. For the successful completion of the research both primary and secondary data needs to be collected. But in this research only secondary data needs to be collected which will the researcher to go through the articles, books, journal that has already been published (Sassi Goaied, 2013). Activities Week 1 Week 2 Week 3 Week 4 Selection of topic Literature review Methodology Secondary data collection Interpretation and analysis Recommendation Conclusion Final submission Table 1: Gantt chart Source: As created by the author Conclusion Banking sector is the main platform on which every economy stands. There are various challenges like competition, deregulation, globalization, and an increasingly high cost for installation of ICT and their maintenance. Utilizing of ICT can help in reducing the cost but the impact on the profitability is indecisive due to the possible outcome of ICT. The feasible result arises because of the consistency in an increasing demand for skilled labor, high expectation from the customers end to meet the service delivery, truthfulness of the information system and competence in the financial services. This assignment has focused on some reviews from the literature where the authors did not find ICT, for delivering customer service and profitable for banks financial performance. Moreover, there are studies that state that as a result of the risk of security, lack of awareness, lack of convenience or comfort or age factor or may be some other reasons are responsible for rejection by the custom ers. In spite of these factors, banks sometimes are unable to provide high quality customer services due to which customers who were ready to adopt the new system moved back. Banks sometimes failed to build up the required electronic system for customers which made them shift away from the new innovation. References Asongu, S. A. (2014). Knowledge economy and financial sector competition in African countries.African Development Review,26(2), 333-346. Gossart, C. (2015). Rebound effects and ICT: a review of the literature. InICT innovations for sustainability(pp. 435-448). Springer, Cham. Heeks, R., Subramanian, L., Jones, C. (2015). Understanding e-waste management in developing countries: Strategies, determinants, and policy implications in the Indian ICT sector.Information Technology for Development,21(4), 653-667. Holtgrewe, U. (2014). New new technologies: the future and the present of work in information and communication technology.New technology, work and employment,29(1), 9-24. Khan, M. M., Fasih, M. (2014). Impact of Service Quality on Customer Satisfaction and Customer Loyalty: Evidence from Banking Sector.Pakistan Journal of Commerce Social Sciences,8(2). Moradi-Motlagh, A., Babacan, A. (2015). The impact of the global financial crisis on the efficiency of Australian banks.Economic Modelling,46, 397-406. Salahuddin, M., Alam, K., Ozturk, I. (2016). Is rapid growth in Internet usage environmentally sustainable for Australia? An empirical investigation.Environmental Science and Pollution Research,23(5), 4700-4713. Sassi, S., Goaied, M. (2013). Financial development, ICT diffusion and economic growth: Lessons from MENA region.Telecommunications Policy,37(4), 252-261. Shahiduzzaman, M., Alam, K. (2014). The long-run impact of Information and Communication Technology on economic output: The case of Australia.Telecommunications Policy,38(7), 623-633. Soja, P., Cunha, P. R. D. (2015). ICT in transition economies: narrowing the research gap to developed countries. Stromquist, N. P., Monkman, K. (Eds.). (2014).Globalization and education: Integration and contestation across cultures. RL Education. Tarut?, A., Gatautis, R. (2014). ICT impact on SMEs performance.Procedia-Social and Behavioral Sciences,110, 1218-1225.