POSITIONING SIX SIGMA WITHIN THE MANAGEMENT ACCOUNTING AGENDA

3.1 IntroductionIn the old section, the medicines concentrated on advancements in the builds of value course, come oning from its unique constrained capacity of survey to its current region as an implicit segment of concern plot through vital quality heading ( SQM ) . This part follows the equal verifiable advancements in cost and heading bookkeeping from its customary cost bookkeeping stage to its present stage that tends to the requests of organizations runing in powerful and competitory settings and investigates the acknowledgment of value issues inside the extent of course bookkeeping. The section initiates with a review of the verifiable advancements in bookkeeping that prompted be and course bookkeeping. From this writing, a logical model is put frontward to: Talk about the significant stages taking to the advancement in cost and heading bookkeeping paying exceptional taking care of the course of value at each stage ; and Talk about the interface between course bookkeeping examples and SS quality enterprise.3.2 Historical DEVELOPMENTS IN ACCOUNTINGIn its most punctual signifier, bookkeeping concentrated primarily on appropriate imprint keeping up and overall gain inclusion ( Johnson, 1991 ) . In spite of the fact that these two maps keep on playing a cardinal capacity in the bookkeeping frameworks, bookkeeping designs have advanced to cover more extensive concern exercises and applications, for example, the course of value undertakings ( IFAC, 1993 ) . Following these turns of events, Lenhardt and Colton ( 2000: 21 ) , broke down bookkeeping designs into three sorts: Chronicled †utilizes cost data that has a verifiable or outcomes point of view and whose goal is to enter what has occurred before. People groups outside the organization who regularly utilize such data, incorporate investors, investors, leasers, bondholders, controllers and burdening governments. Genuine clasp †utilizes cost data that has a present position and is utile to individuals and crews doing existent clasp judgments about concern techniques. Vital †utilizes cost data that has a progressed, vital position and is utile to those doing valuing and other vital judgments about the organization ‘s from this point forward. The second position influencing existent clasp designs and their improvement is ordinarily alluded to as cost and heading bookkeeping designs. The writing has given a figure of models to investigate the improvement of cost and bearing bookkeeping. A portion of these creators have followed the advancement from its start ( Johnson, 1972 ; Chatfield, 1974 ; Chandler, 1977 ; Johnson and Kaplan, 1987 ) , while others have either taken a gander at the state explicit improvements ( Bhimani ( 1996 ) and Dugdale and Jones ( 2003 ) for UK improvements ; Virtanen et Al. ( 1996 ) for Finnish advancements ; Scherrer ( 1996 ) for German improvements ) , or the cutting edge key heading bookkeeping advancements ( Lee, 1987 ; Luft, 1997 ; Srikanthan, 2004 ) . None of this writing has followed the improvements at the interface between heading bookkeeping and quality bearing. The motivation behind this part is to use a systematic model proposed by International Federation of Accountants ( IFAC ) to tal k the changing capacity of bearing bookkeeping and its interface with adjustments in quality direction.3.3 PROPOSED IFAC FRAMEWORKIFAC ( 1998 ) in its Statement on Management Accounting Concepts investigated the turn of events and modification in heading bookkeeping through the undermentioned four unmistakable stages: Stage 1 †Prior to 1950, the point of convergence was on cost finding and monetary control, through the use of planning and cost bookkeeping engineerings ; Stage 2 †By 1965, the point of convergence had moved to the stipulation of data for course arranging and control, through the use of such engineerings as assurance investigation and obligation bookkeeping ; Stage 3 †By 1985, going to was centered around the abatement of waste in assets utilized in concern techniques, through the use of method investigation and cost course engineerings ; Stage 4 †Beyond the mid-1980 ‘s going to had moved to the coevals or imaginative action of significant worth through the adequate use of assets, through the use of engineerings, which analyze the drivers of customer esteem, investor esteem and authoritative creation ( IFAC, 1998. equality. 7 ) . Orchestrating to IFAC ( 1998. equality. 9 ) , ‘each period of improvement speaks to rendition to another arrangement of conditions going up against organizations, by the absorbing, reshaping and add-on to the point of convergence and engineerings utilized prior ‘ . In Stages 1 and 2 the bearing bookkeeping improvements concentrated on customary capable exercises and the stipulation of data ( IFAC, 1998. equalities. 17 and 19 ) . During these stages, the data refering quality was non caught toward the path bookkeeping writing ( Yasin et al. , 2005 ) . A basic relocation between Stage 2 and Stages 3 and 4 is the adjustment in point of convergence from data stipulation towards assets bearing in the signifiers of waste decline ( Stage 3 ) and worth coevals or innovative movement ( Stage 4 ) . This dislodging advanced the across the board utilization of value situated concern examples and plans ( Yasin et al. , 2005 ) . The resulting regions will break down these improvements with notice to IFAC ‘s four periods of development.3.3.1 Phase 1: Cost finding and monetary controlBetween 1880 and mid-1920s fast advancements in cost bookkeeping hypotheses and procedures gave an existent float to the developing of cost bookkeeping. During this period practicing specialists and mechanical applied researchers contributed generally to the advancement of cost bookkeeping writing ( Littleton, 1933 ; Solomon, 1968 ) . Solomon ( 1968 ) alluded to this period as the â€Å" costing Renaissance † . At first cost bookkeeping data was produced for the goal of product costing and net gain finding, yet over clasp this capacity advanced to incorporate components of arranging, control and dynamic ( Solomon, 1968 ) . These significant advancements denoted the balance for conventional cost course bookkeeping designs ( Johnson and Kaplan, 1987 ) .Merchandise costing and total compensation findingMerchandise costing and overall gain finding has for quite some time been the guide of cost bookkeeping. Accumulate ( 1954 ) followed the improvement of product costing and total compensation finding to the early ‘domestic ‘ organized framework, under which the entire manufacture methodology was completely heavily influenced by the owners. Johnson and Kaplan ( 1987 ) noticed that the owners of individual movement concerns made new bookkeeping processs to order the final result from inward techniques. This assault was like the experts ‘s quality improvement designs examined in the old section. In a ‘domestic ‘ organized framework, the owners contrived information cost steps, for example, stuffs cost and progress expenses to enter the ‘price ‘ of finished result from interior tasks ( Johnson and Kaplan, 1987: 7 ) . Indeed, even in the early mature ages, the owners of midway controlled individual action concerns held the estimation that by solidly pull offing the expenses of their interior concern strategies more pro minent worth could be accomplished ( Johnson and Kaplan, 1987 ) . In any case, limitations on cost bookkeeping estimating confined the range for quality cost measurings ( Johnson and Kaplan, 1987 ; Yasin et al. , 2005 ) . With the approaching of the modern upset inner managerial methodology were set up to co-ordinate various creation exercises ; runing costs were produced to quantify open introduction and rich cost inclusion components were concocted, unconventionally for direct work and stuffs ( Smith, 1995: 7 ) . For delineation, Johnson and Kaplan ( 1987 ) study that the advancement of an incorporated double passage cost bookkeeping framework helped course oversee the effectiveness of inward strategies and worker open introduction and later shaped the balance for the improvement of an open introduction related wagess and motivating force system. Regardless of the solid worry for telling interior costs, quality cost estimating was non viewed as a segment of the bearing bookkeeping map. Then again, the verifiable in rules of product costing and net gain finding gave the path to an expansive hierarchical arranging and control work ( Black and Edwards, 1979 ; Johnson and Kaplan, 1987 ) .Planing and con trolIn the mid twentieth century, arranging and control devices, for example, standard costing and inconsistency inclusion were presented as segment of the course bookkeeping map ( Solomon, 1968 ) . Standard bing shaped an implicit segment of creation arranging, while error investigation was utilized for cost control. Solomon ( 1968 ) noticed that the primary notice to â€Å" heading by prohibition † was established in Taylor ‘s praised paper on â€Å" Shop Management † that was firmly connected to early quality control and that Taylor ‘s build of standard methods and standard working clasp ( clasp and motion overview ) was utilized as the balance for the improvement of standard costing. This shows the guidelines of standard costing are gotten from Taylor ‘s logical bearing hypothesis and considerations of value control talked about in Chapter 2. Along these lines, even in the early segment of the twentieth century there were indicants of a nexus betw een modification bearing plans and heading bookkeeping frameworks. Another significant improvement in Stage 1 was the advancement of concern planning strategies ( Black and Edwards, 1979 ; Johnson and Kaplan, 1987 ) . Business planning was established on the guidelines of administrative planning processs utilized in England and US ( Black and Edwards, 1979 ) . Rather than standard costing, a budgetary control framework includes all the maps and segments in an advertisement

An Overview of the Declaration of Pillnitz

An Overview of the Declaration of Pillnitz The Declaration of Pillnitz was an announcement given by the leaders of Austria and Prussia in 1792 to attempt and both help the French government and hinder an European war because of the French Revolution. It really had the contrary impact and stands out forever as a horrendous misconception. The Meeting of Former Rivals In 1789, the French Revolution had seen King Louis XVI of France lose control of an Estates General and another resident government structure in France. This didnt just indignation the French ruler, yet the vast majority of Europe, who were governments not exactly satisfied about residents sorting out. As the insurgency turned out to be increasingly outrageous in France, the ruler and sovereign became down to earth detainees of the administration, and calls to execute them developed. Worried about both the government assistance of his sister Marie Antoinette and the status of brother by marriage King Louis XVI of France, Emperor Leopold of Austria met with King Frederick William of Prussia at Pillnitz in Saxony. The arrangement was to talk about some solution for the manner in which the French Revolution was subverting eminence and undermining family. There was a solid camp of supposition in western Europe, drove by individuals from the French gentry who had fled the progressive gove rnment, for equipped mediation planned for reestablishing the full powers of the French ruler and the entire of the ‘old regime’. Leopold, as far as it matters for him, was a down to business and edified ruler who was endeavoring to adjust his own concern riven domain. He had followed occasions in France however was apprehensive mediation would undermine his sister and brother by marriage, not help them (he was totally right). In any case, when he thought they had gotten away from he carelessly offered every one of his assets to help them. When of Pillnitz, he realized the French royals were successfully detainees in France. The Aims of the Declaration of Pillnitz Austria and Prussia were not characteristic partners given ongoing European history, however at Pillnitz they agreed and put out a revelation. This was framed in the discretionary language of the day, and had a two sided connotation: fully trusted it gave a reproach to the progressive government, yet by and by was intended to create a constraint on calls for war, confine à ©migrã © rulers and bolster the regal party in France. While it expressed that the destiny of the French Royals was of â€Å"common interest† to Europe’s different pioneers, and keeping in mind that it encouraged France to reestablish them and made dangers if hurt came to them, the subtext was in the segment saying Europe would just make military move with the understanding of all the significant forces. As everyone realized Britain would have nothing to do with such a war at, that point, Austria and Prussia were, by and by, not attached to any activity. It sounded intense yet guaranteed nothing of substance. It was a bit of astute wit. It was an absolute disappointment. The Reality of the Declaration of Pillnitz The Declaration of Pillnitz was therefore intended to help the star imperial group in the progressive government against the republicans as opposed to compromise a war. Tragically for the condition of harmony in Europe, the progressive government in France had built up a culture that didn't perceive subtext: they talked in moral absolutes, accepted that rhetoric was an unadulterated type of correspondence and that shrewdly composed content was deceitful. In this manner the progressive government, particularly the republicans fomenting against the ruler, had the option to fully trust the Declaration and depict it as, a danger, however an invitation to battle. To many frightened Frenchmen, and to many upsetting government officials, Pillnitz was an indication of intrusion and added to France taking part in a pre-emptive presentation of war and the illusion of a campaign to spread freedom. The French Revolutionary Wars and Napoleonic Wars would follow, and both Louis and Marie would be executed by a system made much progressively extraordinary by Pillnitz.

A mid-November check-in Snow, Virtual Info Sessions, Application Tips COLUMBIA UNIVERSITY - SIPA Admissions Blog

A mid-November check-in Snow, Virtual Info Sessions, Application Tips COLUMBIA UNIVERSITY - SIPA Admissions Blog Winter is Coming It was the first snow of the season yesterday! Heres a snapshot courtesy of first-year student @luzangil. Unfortunately due to the snow causing transit issues, we did have to postpone the Diversity Spotlight event arranged with the SIPA Students of Color (SSOC). I’m so happy to see the level of interest in this event, and we’re so sorry for the inconvenience. Everyone will be notified once it’s rescheduled; in the meantime, learn a little more about SSOC’s most recent Identity @ SIPA panel. Register for our Virtual Information Sessions While we let everyone know about events on-campus here in NYC in case they’re able to attend, we’re aware that many of you are busy or live further away. With that, we have multiple virtual information sessions coming up that you should register for. SIPA Virtual MIA/MPA Information Session November 20 from 12:00pm 1:00pm ET Group of 5 Virtual Info Session November 27 from 2:00pm â€" 3:00pm ET SIPA Virtual MIA/MPA Information Session December 12 from 3:00pm 4:00pm ET An exciting addition to these virtual events: SIPA’s Concentration Directors will be talking about their unique concentrations and what they look for in program candidates. There’ll be a chance for QA at the end, and this is a great way to get a detailed look at the nuances of what each concentration offers. Energy and Environment Webinar November 29 from 11:30am 12:00pm ET Human Rights Humanitarian Policy Webinar November 29 from 1:30pm 2:00pm ET MPA in Development Practice Webinar December 6 from 11:30am 12:00pm ET International Finance and Economic Policy Webinar December 6 from 1:30pm 2:00pm ET Urban and Social Policy Webinar December 13 from 10:30am 11:00am ET Economic and Political Development Webinar December 13 from 1:30pm 2:00pm ET International Security Policy Webinar December 20 from 11:30am 12:00pm Application Tips Finally, for those of you working on your Fall 2019 applications, here are blog posts addressing some common questions we’ve been receiving lately: Here are SIPA students Niara and Julias tips on the GRE. How to think about writing your Personal Statement from Dylan. And an oldie but a goodie, an overview of the required Resume/CV.

How The Holocaust The Idea Of Man - 946 Words

I was given what some would argue, the easy task of examining how the Holocaust destructed the idea of man. I say that some would call this job easy because one could simply compare and contrast a man before the Holocaust and after the Holocaust and say that these differences are how the Holocaust disassembled the idea of man. However, simply comparing and contrasting someone before and after the Holocaust does not account for what happened during the holocaust that would destroy them, Which means that I must dive in deeper than just that and look closely at a slew of things to get the real answer to my question. However before I can answer that question I must respond to the question of what is a man. Then I must respond to the question of what is â€Å"the idea of man† Any dictionary would tell you that a man is either an adult human male or human being regardless of gender. Nonetheless, that does not answer my question because if that is a man then what is the idea of man? Now given that the text that we are read for this class has not solely been written by men then I must look past the definition that a man is an adult human male. Furthermore, I must look at the fact that the term man must represent humans as a whole. If that is true, then the idea of man is the idea of humans, in the only thing that separates man from beast is our ability to feel, show compassion, empathy, and build lasting relationships. Consequently, if the Holocaust disassembled the idea of man itShow MoreRelatedSummary Of Maus By Art Spiegelman Essay1593 Words   |  7 PagesMaus by Art Spiegelman is a graphic novel about a man s story of surviving the holocaust and the son was asking his father to tell this story. By itself this is a great story a man trying to survive the Holocaust against the odds and reunite with his lost love. Outside the simple exterior there is a dark theme of guilt that enhances the text from cover to cover. This theme of guilt is something that can b e seen throughout the story, in a surprising number of times and an even more surprising numberRead MoreAnalysis Of The Film Denial772 Words   |  4 PagesEmory University in Atlanta, Georgia in 1994. Lipstad gives the principal factors about Holocaust denial and tells how some people do not believe in the evidence of this horrible event. The film shows a conference that she gives, where she tells us more in detail about the factors and the students ask questions about this subject. Then, a man named David Irving appears who will question the evidence of the Holocaust because he does not believe it and thinks that it was a falsification of the Jews. HoweverRead MoreBrave New World Essay1235 Words   |  5 Pagesabout a society that is in the future. This book contains many strange things that are generally unheard of today. Yet we see that some of the ideas that are presented in this book were already present in the 20th century. The idea of having one superior race of people can easily be seen as something that Hitler was trying to accomplish during the Holocaust. Huxley presents the society in his book as being a greater civilization. A totalitarian type of leadership is also presented in his book. AccordingRead MoreEssay on Nazi Book Burning858 Words   |  4 PagesNearly a century before World War II, German Jewish poet Heinrich Heine wrote, â€Å"Where they burn books, they will also ultimately burn people (â€Å"Holocaust History†). These chilling words not only forecasted the events to come, but also went up in flames in Germany during the Nazi book burning. Throughout Germany on May 10, 1933, thousands of people came out to witness these horrid events. These public displays of censorship were monstrous in nature. Book burning is defined as â€Å"the ritual destructionRead MoreThe Holocaust, By Robert Burns1121 Words   |  5 Pages Scottish poet, Robert Burns wrote, â€Å"Man’s inhumanity to man makes countless millions mourn.† When looking back on the history of our society, many incidences that reflect this thought clearly. One that stands out to me is the Holocaust. The Holocaust was the â€Å"purification† of Nazi Germany led by Adolf Hitler from 1939 to 1945. There were millions of people that were cycled through the concentration camps that the Nazis built. The millions of people that were killed are just a small portion of theRead MoreNight: Heart-Wrenching and Traumatic Themes1189 Words   |  5 Pagesfirst steps of their plan. The Holocaust began to surface after months progressed slowly. Eliezer’s strong faith began to waver as Moishe the Beadle, a pious old Jew, explains: â€Å"I pray to the God within me that He will give me the strength to ask Him the right questions.† (Wiesel, 5) Moishe’s words frame the conflict of Eliezer’s struggle for faith. He conveys two concepts key to Eliezer’s struggle: the idea that God is everywhere, even within every individual, and the idea that faith is based on questionsRead MoreVladeks Quirks and Habits1594 Words   |  7 Pages5-12-14 Vladek’s Reaction to the Holocaust The Holocaust was a traumatizing and depressing time period in history due to the Nazis in the leadership of their dictator Adolf Hitler. The Nazis were a Political Party during World War ΙΙ from 1941 through 1945. Many Jews during this time were discriminated, murdered, and humiliated in front of many other Jews and Germans. â€Å"Six million Jews died in a merciless way at the hands of the Nazis† (Sherbok 1). The Holocaust is an unforgettable period in historyRead MoreAnalysis Of Bruno In The Boy In Striped Pajamas881 Words   |  4 PagesHolocaust Auschwitz. The concentration camp where the most people were killed, too be exact, six million. In the novel The Boy In Striped Pajamas the main character is Bruno. Bruno is a nine year old German boy who is very naive about the Holocaust, Jews, and what happened to the Jews. The Holocaust was a depressing time in Europe for the Jewish. A group of people called the Nazi’s killed Jews because of one man who blamed the Jews for Germanys problems. That man was Adolf Hitler. Hitler put allRead MoreThe Terrible Acts of Rwandan Genocide1296 Words   |  6 PagesIn between 1930 and 1945, an event took place that changed the world in many ways. The Holocaust was a genocide that consisted of the decimation of one single race, the Jews. This solemn event is very similar (and also quite different) to another event that took place only four thousand miles away. Like the Holocaust, this event is was a genocide and it took place at Rwanda in 1994. This genocide was between the Hutus and T utsis. These two groups have a long background with each other that consistedRead MoreSigmund Freud, Joseph Conrad, And Tadeusz Borowski1390 Words   |  6 Pagesintellectual thinkers began to drift away from 19th-century enlightenment ideas, such as liberty, progress, and a constitutional government. They began to question Europe s achievements and started criticizing progress, rationality, and human nature. Through their experience, ideas, and literature were able to see the what caused the change in society and their views on it . Freud mainly focuses on human nature and questions the desire, ideas ,and beliefs that shape a human, he then further analyses them.

What is the Multiplier Effect - 1284 Words

During the time of economic crisis starting around 2010 different rationalities have been taken to try and continue economic growth while maintaining a stable government system that is helping and not hurting. When examining government spending and how it affects the growth of the Gross Domestic Product (GDP) there seems to be disagreements on if it was helping or damaging the prospective growth that could be made. By using the Multiplier Effect the government can estimate how to adjust their government spending and how it effects the spending of the consumer, investments and spending of country’s exports. In time of economic crisis the government has a choice to cut spending or increase spending for public goods and services. â€Å"In 2009,†¦show more content†¦This is where the multiplier effect can be used. It give the government a way to measure the economy as a whole. Increasing the spending would then create a trend of spending increasing the economy ideally. B y increasing government spending it can also increase the stress on the tax payers unless there is a stimulus program that is increasing the incentive to spend. When the government increase taxes it also decreasing the consumers willingness to spend and to invest known as crowding out. This makes a reduction in the economy. The trend seen in Stratmann and Okolski is that the stimulus may work but it could also not live up to its expectation of saving the economy and actually decreasing the the process of growth. This happens mainly when money is allocated to areas that are not in need due to things like political gain. In the article â€Å"Should the Government Spend or Invest Money† by William Fulton, I like his approach to first explaining the difference in spending and investing. Spending has a short term positive effect on the economic condition at hand. So spending is letting go of money now and getting immediate action, investment is letting money go now and expecting a financial return. For example, when President Obama,like President Roosevelt, created a stimulus for theShow MoreRelatedJohn Maynard Keynes : Multiplier Effect1603 Words   |  7 Pages John Maynard Keynes: Multiplier Effect In 1931, a British economist named Richard Kahn introduced what is known as the multiplier effect. In Kahn’s article, â€Å"The Relation of Home Investment to Unemployment†, he first introduced the multiplier effect which in turn ended up being his most notable contribution to the field of economics (Richard Kahn, Baron Kahn.). The multiplier effect can be defined as how aggregate expenditure, for example government spending, causes an increase in output. AccordingRead MoreEcon: Multiplier Effect1343 Words   |  6 Pages6. To fully explain the multiplier effect, we need first to define the Injections and Withdrawals, preferably through the model of Circular flow of income: It is a simple economic model describing a circulation of income between producers (firms) and consumers (households.). It consists of direct inner flow between firms and households and outer flow. The outer flow is caused by the fact that households do not spend all of their income on consumption; part of their income is withdrawn as netRead MoreThe Concept of the Money Multiplier Effect719 Words   |  3 PagesThe concept of the money multiplier effect came into being early in the 20th century, on the heels of a significant change in monetary and banking policy occurring during 1929. Rampant news of bank failures during this time created panic among depositors, who withdrew their money in great numbers. Since there was no security against losses for depositors with banks that failed. News of such failures therefore caused depositors to rush to withdraw their money in an attempt to avert too great a lossRead MoreThe Marginal Propensity Of Consume762 Words   |  4 PagesThe margi nal propensity to consume, sometimes referred to simply as MPC, is used to determine what part of an entity s extra money is consumed, or spent. MPC indicates how consuming changes as income changes. It can be expressed as the ratio of an entity s change in spending over its change in income. For example, imagine a business began earning $200 extra per month. The business than begins to spend an extra $100 per month. The MPC is 50 percent; of each extra dollar the company earns, aboutRead MoreFiscal Policy On Employment, Potential Gdp, And The Economic Growth Rate935 Words   |  4 Pagesable to â€Å"describe the federal budget process and the history of tax revenues, outlays, deficits, and debts†. The second object is to â€Å"explain how fiscal stimulus is used to fight a recession†. The third objective is to â€Å"explain the supply-side effects of fiscal policy on employment, potential GDP, and the economic growth rate†. The federal budget has two main reasons it was created. The first is to fund the activities of the federal government. The second was and still is to attain macroeconomicRead MoreTravel Agent . Stage 2 Tourism: Task 1 Nature Of Tourism1072 Words   |  5 Pagesthrough a travel agent and also more people are travelling today than ever before so I believe that there is still a need for travel agents. Tourism sectors Tourism is divided into different sectors and although sources differ on how may there are and what they are called, generally they all agree on at least 5 â€Å"core† sectors. Several sites listed eight sectors, which are â€Å"Accommodation, Adventure Tourism and Recreation, Attractions, Events and Conferences, Food and Beverage, Tourism Services, TransportationRead MoreConventional and Unconventional Tools Used by Central Banks, A Basic Study Guide1320 Words   |  5 Pages(IMF) reported that the fiscal multiplier for the periphery of the Eurozone was roughly equal to 0.5. One year later, IMF recognised its mistake reporting that the fiscal multiplier was approximately equal to 1.7. Discuss the above statement explaining what the fiscal multiplier is. (b) The above statement states that in a 2012 study the International Monetary Fund (IMF) reported that the fiscal multiplier for the periphery of the EurozoneRead MoreEconomics and National Income1160 Words   |  5 Pages | (a) What is the current equilibrium level of national income? (b) What is the level of injections? (c) What is the level of withdrawals? (d) Assuming that tax revenues are  £7 billion, how much is the level of saving? (e) If national income now rose to  £80 billion and, as a result, the consumption of domestically produced goods rose to  £58 billion, what is the mpcd? (f) What is the value of the multiplier? (g) Given an initialRead MoreEssay about Eco/372 Final1144 Words   |  5 Pageseliminate unemployment was to A. eliminate labor unions and government policies that hold real wages too high 13) In the AS/AD model, an expansionary monetary policy has the greatest effect on the price level when it A. increases both nominal and real income 14) The Federal funds rate D. is an intermediate 15) What tool of monetary policy will the Federal Reserve use to increase the federal funds rate from 1% to 1.25%? B. Open-Market Operation 16) If the Federal Reserve increases the requiredRead MoreMacroeconomics and Equilibrium Level1394 Words   |  6 Pagesthe following equation: C = 200 + .5 YD, where YD = Y – T and T = 200. a. What is the level of consumption in this economy if YD = 0? Briefly explain how individuals â€Å"pay for† this consumption when YD = 0. b. Given the above parameters, calculate the level of consumption if Y = 1200. Suppose Y increases to 1300. What happens to the level of YD as Y increases to 1300 (i.e. calculate the change in YD)? What happens to the level of consumption when Y rises to 1300 (i.e. calculate the change

Suffolk County Legislators Free Essays

Today, we are in an age where local government is extremely important. Each county of every state has elected legislators that represent town throughout that county. I have selected two legislators which are both republican. We will write a custom essay sample on Suffolk County Legislators or any similar topic only for you Order Now The first is Cameron Alden a 49 year old man that represents the greater Bay Shore Area. He is also on the Conservative and Independence lines. The second legislator is Angie Carpenter, a very nice lady, that represents West Islip. Cameron Alden was born on August 28, 1950, in Bay Shore and grew up in Islip, Long Island, New York. He graduated Islip High School in 1968, where he played varsity football, basketball and baseball. Mr. Alden graduated from Suffolk County Community College in 1970 with an AA degree. He was a member of the SCCC varsity baseball team. Mr. Alden graduated from Dowling College in 1974. He was a member of the Pi Alpha Sigma Honor Society and played varsity basketball and golf Mr. Alden attended Tuoro Law School, graduating in 1990 with a Juris Doctor. He was admitted to the New York State Bar in 1991. (www.co.suffolk.ny.us) Prior to attending Law School he was a local Bay Shore business owner. A catering/grocery store and school bus companies were among those he owned. (www.co.suffolk.ny.us) Alden chose community-development work after undergoing a mastectomy during a bout with male breast cancer in law school, which â€Å"totally changed my focus† to an interest in public service.(Interview) He practiced law at the Town of Islip Community Development Agency, which provides affordable housing and economic development projects in the Town of Islip. He is a former Assistant Town Attorney for the Town of Islip. Cameron Alden was elected to serve as a Legislator for the Tenth District and sworn into office January 2, 1998. Legislator Alden has been selected by his colleagues to serve as Vice-Chairman of the Parks/Land Preservation and Planning Committee. In addition Legislator Alden is a member of the Energy/Environment and Transportation, Health and Human Services, Public Works, and Finance Committees. (www.co.suffolk.ny.us) The 10th Suffolk County Legislative District (L.D.) serves Islip, East Islip, Bay Shore and Brentwood. There are 52 election districts (E.D.s) with 33,058 registered voters. (www.co.suffolk.ny.us) Alden says his primary focus would be to ease the burdens on taxpayers. A critic of the LILCO-LIPA deal, Alden admits he does not yet have many specific legislative initiatives but says he is the better candidate because his fiscal policies would be more conservative. (Interview) Currently Cameron is working on a proposed bill that would support the elimination of taxes on clothing in Suffolk county. This proposed bill would enable signs 6to be erected throughout Nassau asking consumers to come shop in Suffolk due to its no lax bill as long as the clothing items are under one hundred and ten dollars. He has also worked on such other bill like trying to raise the salaries of Suffolk county legislators because he fells they are underpaid. Mr. Alden does not really receive a large amount or Pac money from anyone but he does have many supporters. These supporters include the Police and other safety bureaus and also many factory unions. (Interview) Angie Carpenter was born on Long Island in the mid fifties and is currently happily married and a mother of two. (Interview) Angie’s dedication to the community is what led to her nomination to run for the Legislature, a position she has held since February 1993. (Interview) Legislator Angie M. Carpenter is founder of ACT Communications Group, a full-service advertising and marketing company specializing in multi-media graphic design and printing. The business is currently run by her sons Richard and Robert enabling her to devote her attention full-time to her duties as an elected official in Suffolk Government, but still affording her the opportunity to remain sensitive to the concerns of the business community. (www.co.suffolk.ny.us) Angie continues to devote her time and efforts to her community and constituents. As former Chairman of the Legislature’s Economic Development and Education Committee, Angie Carpenter worked to bring the Touro School of Health Services to downtown Bay Shore which is opening early in 1999. She has worked tirelessly to increase aid to Suffolk Community College, and led the fight to cut tuition costs so that the college is affordable for all of our residents. (www.co.suffolk.ny.us) She continues in her role as an avid supporter of the college and is extremely proud of the fact that the fastest growing campus of Suffolk County Community College is in her legislative district. Angie worked from the beginning, to see the construction of the $54 million-dollar Health and Technology Building scheduled to be completed in the Fall Semester of 2000 (Interview). Angie has almost served every committee during her tenure on the Suffolk County Legislature. Currently Angie is serving as the Legislature’s Budget Committee Chairman, and Vice Chairman of the Public Safety Committee. She continues to serve as a member of the Economic Development and Education Committee, Budget Committee, Consumer Protection, Labor and Investigations, and Veterans and Seniors, as well as the Public Safety Committee, Parks, Planning and Land Preservation Committee, the Health and Human Service Committee, Sports Committee, and the Public Works Committee. (www.co.suffolk.ny.us) In the past, Angie has helped in implementing a mass transportation public information program for Suffolk County, enacted a linked Deposit Program to promote local business expansion, directed the County Health Department to provide free testing for prostate cancer and cosponsored a resolution to provide environmentally safe golf course management to help protect our groundwater and hopefully help reduce the risk of breast cancer. (www.co.suffolk.ny.us) She has made efforts to invest in the county†s Timber Point Golf Course to maximize its economic potential and preserve jobs for the county workers employed there. (Interview) Most recently, Angie co-sponsored legislation to rollback sales tax on clothing and shoe purchases under on hundred and ten dollars per item. Angie has also sponsored a resolution to â€Å"boot† the vehicles of deadbeat parents that are not complying with the child support payments. This â€Å"booting† of cars is huge lock that goes over the tire and wheel and makes automobile impossible to drive. A resolution that Angie sponsored last year now requires the Suffolk County Health department to hold annual Public Hearing and Health Fair. This gives government an opportunity to hear first hand from our residents about the County†s health care delivery system and also raises public awareness or what is available. (Interview) Over the years, Angie’s commitment to her community has been recognized time and again with honors from Islip Town, Boy Scouts of America, Loyal Order of the Moose, The American Legion, Pronto, Zonta International, the West Islip and Bay Shore School Districts and Suffolk County Arts Council, to name a few. She has been involved in the community as President and founder of the Chamber Council of Islip Town, President of the West Islip Chamber of Commerce, Vanderbilt Museum Trustee, Board of Our Lady of Consolation, Salvation Army, Youth Enrichment Services and ASK US (an after school care program in West Islip). (www.co.suffolk.ny.us) Angie has dedicated her efforts to the growth and expansion of business here in Suffolk. She has brought education to the forefront as one of the many issues addressed under her leadership, and continues her unwavering commitment to her family, community, and those she was elected to serve. (www.co.suffolk.ny.us) She receives her support from many people including the Police, the Suffolk County UNE, and many other unions countywide. (Interview) Legislators, Cameron and Angie are very willing to do what their people are asking for and sacrifice a lot of their time to make their residents happy. In my own opinion I think Angie Carpenter is a better Legislator than Cameron Alden because I feel Angie had sponsored and produced more bills than he has and in my eyes she is a nicer and more heart worthy person. How to cite Suffolk County Legislators, Essay examples

Social influence and anti social behaviour

Introduction Experiments on social influence help to determine whether a person behaves in accordance to one’s social context or one’s personality. They emphasise the importance of the implied, real or envisaged existence of others. Individuals spend most of their time in social gatherings and they can exert an influence on group members or the reverse may occur.Advertising We will write a custom essay sample on Social influence and anti social behaviour specifically for you for only $16.05 $11/page Learn More Indeed, most people’s attitudes reflect the belief systems of their respective groups. To effectively understand human behaviour, one must fully appreciate the role that social context plays in influencing it. Experiments on social context can demystify antisocial behaviour because they provide a theoretical basis for deviations from the norm. How research helps in the understanding of social behaviour One classic piece of soci al influence research is the Asch conformity as carried out by Solomon Asch. He was one of the most important contributors of the antisocial behavioural discipline because he demystified the concept of group conformance (Turner 1991). In his analysis, the experimenter used two types of cards for all the participants. One card had a standard line while the other card had three different lines. Subjects were supposed to match the lines on the second card with the standard line. This was a relatively simply test that had a clear answer. However, the subjects were placed in the company of others and answered after all the confederates (5, 6 or seven in number) had responded. It was found that twelve out of the eighteen subjects changed their minds when the perceived members of the team did the same. When these participants were asked to identify the correct line privately, they gave the right answer. This experiment illustrated that members of a group will be under pressure to conform t o other’s people’s opinions even when they know that the opinions they hold are wrong. Ash’s study was critical in illustrating the importance of normative social influence. His subjects deliberately gave a wrong answer because they wanted to adhere to group norms. At the time of the experiment, it was necessary to follow the instructions of members of the group. Their feelings and expectations were imperative in bringing out these outcomes. In fact, conformance was so important to the subjects that they were willing to support an answer that they knew was obviously wrong (Bond Smith 1996). Similarly, one may apply this information to groups that engage in antisocial behaviour. A young man may participate in a violent activity, group rape or robbery owing to the type of social influence found in Ash’s experiment.Advertising Looking for essay on psychology? Let's see if we can help you! Get your first paper with 15% OFF Learn More He may kno w that the activity is immoral, but may choose to engage in it simply to conform to group expectations. Such subjects seek group rewards or want to evade social punishment. This public conformity may explain why certain people act appropriately in private and inappropriately in a group especially when the action they are doing is undoubtedly wrong/ immoral. Asch’s work also provides useful insights on self categorisation. This theory posits that sometimes people may justify their antisocial behaviour in groups by depersonalizing themselves from the situation (Koelen Van den Ban 2010). They may claim that their behaviour was in tandem with the group, and this was the right thing to do. Participants may hold the expectation that when in a group, one is expected to hold the same attitudes or beliefs as the group. They depend upon the choices of others to gauge whether their own actions are correct. The Milgram experiment was yet another classic piece of work on social influence and can also provide tremendous insights on antisocial behaviour. It was carried out amongst a group of volunteers who were made to believe that they were playing the role of a teacher. A confederate was placed in an adjacent room, and was expected to learn a series of words from the teacher. For every wrong response, the teacher was to administer an electric shock to the learner. However, confederates did not receive actual shocks. The experimenter simulated sounds and noises that sounded like electric shocks. The confederates also pretended to be in pain by screaming and banging on the wall after a certain voltage level. They were supposed to tell the teacher about a heart condition that they had. If the subjects wanted to stop at a certain time, the experimenter would urge them to continue using a succession of four sentences, which stressed the critical importance of continuing. If the ‘teacher’ felt that he still wanted to stop after the four sentences, then the e xperiment would end (Wu 2003). However, others who asked about the confederates were assured that the shocks would not cause permanent harm to the ‘learners’. The results revealed that 65% of the subjects were willing to reach the maximum voltage even though they appeared to be uncomfortable doing so. Some questioned the ethics of the experiment and even refused payment.Advertising We will write a custom essay sample on Social influence and anti social behaviour specifically for you for only $16.05 $11/page Learn More Unlike Asch’s trials, which simply dwelt on group influence, this research was crucial in understanding the role that authority plays in affecting people’s behaviour. Asch’s work compared moral values with social beliefs or opinions. However, Milgram contrasted authority with one’s moral beliefs. His study was critical in illustrating how authority can undermine moral principles and thus lead to ant isocial behaviour. Therefore, the concept of obedience to authority was under analysis here. More than half of the participants in the study were willing to forfeit their personal principles in order to obey authority. These findings illustrate how antisocial behaviour can occur among seemingly normal or ordinary people. Participants of this study believed that they were not expected to question authority. Similarly subordinates in other settings may commit immoral or antisocial crimes simply because they respect authority. They may be aware of the destructiveness or immorality of their situations, but may willingly participate in those wrongs because of submission to authority. The Milgram experiment also shows that individuals sometimes do not reflect on their beliefs when acting on behalf of an authority. This is reflective of the agentic state theory. In this school of thought, Milgram asserted that when people subject themselves to the authority of others, they may regard thems elves as mere instruments’ of their superior’s wishes rather than individual entities (Milgram 1974). As such, most people will not feel responsible for any actions when they engage in antisocial behaviour. In addition, this experiment is also a continuation of the theory of conformism that was started by Asch. Engaging in antisocial behaviour may sometimes be a form of reference to a group. In this case, the group is the authority figure. Conformity often occurs when the concerned person feels that he or she is not capable enough to make a certain decision. In such cases, the person will depend upon the group as a reference for behaviour (Hayes 2000). This especially occurs when an individual is in a crisis situation like the one in the concerned experiment. Such an analysis is especially relevant in understanding how some people may be prompted to behave in a manner similar to the one viewed in the Nazi concentration camps. The persons carrying out those actions reve aled that social influence can be dominant enough to lead to sadistic or inhumane acts as seen in the genocide.Advertising Looking for essay on psychology? Let's see if we can help you! Get your first paper with 15% OFF Learn More Milgram proved that more often than not, people agree to belong to a system. When in that system, they have the choice of either sticking to their moral judgements or submitting to the rules of the system, which are represented by figures of authority. Loyalty may be regarded as a moral standard that shapes people’s behaviour. Therefore, when one makes a choice between these divided allegiances then one may or may not act in a deviant manner. The subjects in the experiment were more loyal to the rules of the system, which was the experiment, than their own belief systems and this perpetuated aggressive or violent behaviour. This experiment is highly useful in illustrating that the agentic state of an individual can lead to antisocial behaviour. One may belong to a corporation, and may be persuaded to carry out criminal/ unethical behaviour after receiving instructions from one’s supervisor. This study is useful in identifying the situations that cause obedience to unet hical instructions, and can thus allow stakeholders to either minimise those conditions or eradicate them completely. Phillip Zimbardo also carried out another famous study known as the Stanford Prison Experiment. His major aim was to find out how situational factors lead to deviant behaviour. The researcher created a fake prison at the basement of Stanford University and took 24 students into the setup. The experiment was supposed to last for a period of 2 weeks. Unlike Milgram, Zimbardo did not use confederates or actors as prisoners. All the participants were assigned roles as guards or prisoners. No prisoner was allowed to leave the premises while the guards could do so after an eight-hour shift. The experiment never went up to the intended two weeks as the prisoners were immensely stressed while the guards became sadistic and abusive. Zimbardo found that regardless of having two choices; being hostile or civil towards the prisoners, the guards chose to be hostile. Most of the p risoners took on a position of submission and depression. Some of them seemed to be highly anxious and even began crying. The researcher himself participated in the study; played the role of a prison warden. However, he stopped being objective in the analysis when he allowed the guards to act so brutally. It was Zimbardo’s girlfriend who warned him about the dangers of the experiment, and urged him to stop. After the experiment, it was found that certain situations can prompt seemingly passive individuals to act in a deviant or antisocial manner. When people are given positions of power, they yield to its influence and forget about the importance of their own moral values. The subjects who played the role of guards started to behave in a manner that was not typical of them. Many of them transformed from being passive to aggressive and even violent. Conversely, the subjects who played the role of guards became silent and passive. This analysis was important in understanding th e importance of social conformity. Most people will behave in a certain way owing to their understanding or society’s definition of the position. Police officers, teachers, parents, waitresses, prisoners or prison guards all fulfil certain social roles. Persons in these roles are expected to exhibit certain kinds of behaviour. The guards in the mock prison embraced their social roles and disregarded the fact that they might hurt their fellow participants. This was particularly surprising when Zimbardo himself acted inappropriately. Furthermore, the participants had not shown any signs of psychological malfunctions prior to the survey. Besides, none of the participants volunteered for the role as this would have denoted that certain elements of their personality came into effect. All were randomly assigned those positions without prior consultations. He acknowledged that he had gotten so carried away by his social role, as a warden, that he lost all objectivity of the analysis . Unlike Milgram’s study; this experiment had no specific authority. However, it did prove some of the findings in Asch’s study; that group expectations can replace an individual’s moral imperatives. In this case, no one voiced their expectations about what the prison guards or prisoners should do or say. This behaviour was deduced from expectations on those social roles. No form of coercion or force was exerted upon the participants, yet they found it within themselves to act so sadistically. This study shows that social influence can occur in non immediate settings. The persons concerned in the Zimbardo experiment did not seek immediate social rewards or refrain from immediate punishment. They were allured by the temptations of the powerful positions they were in (Zimbardo 2007). All the experiments discussed above on social influence also prove that conformity can be manipulated. Once a dissenting opinion is voiced by even one member, then that is sufficient enough to cause doubt about a certain act. Variations of the Asch and Milgram experiments have shown that people will be willing to abide by their own moral standards if they realise that other persons in their own position would be willing to do the same. Additionally, if a person heard about certain opinions from an in-group member, then he or she would be more likely to adhere to those same opinions than if the view came from a perceived outsider. Social influence can be moderated and this may minimise antisocial behaviour in subjects. Zimbardo, Asch and Milgram also demonstrate that social forces play a vital role in one’s deeds. Antisocial behaviour may arise out of the need to conform to societal expectations, direct group expectations or even a member of authority. These researches point out that sometimes, one’s personality or value systems can be overridden by certain social forces. Therefore, psychologists or other stakeholders may prevent or treat antisocial behaviour by minimising the occurrence of these group influences. It is particularly interesting to note that most of the deviant behaviour took place regardless of the anonymity of the participants. The subjects had no particular relationship with the researchers in all three social influence studies yet they still engaged in antisocial behaviour. One might conclude that peer influence among known associates and friends may exert an even heavier social influence on the deviant person. Social influence is a concept that can affect people in various capacities. It is so powerful because it has a two-way function. It offers rewards to the person engaging in the antisocial behaviour because it facilitates acceptance. It also offers rewards to the group because it elicits fewer negative sentiments from them. Social influence can thus impede or heighten antisocial behaviour based on these understandings (Guetzkow 2000) Conclusion The studies carried out on social influence illustrate th at it highly affects individual behaviour. These researches show that a person’s behaviour is firmly rooted in one’s social context. Sometimes this may come in the form of one’s peers, group, roles or authority figures. References Bond, R Smith, P 1996, ‘Culture and conformity: a meta analysis of studies using Asch’s line judgment task’ Psychological Bulletin, Vol. 119, pp. 11-137 Guetzkow, H 2000, Groups, leadership and men, Carnegie press, Pittsburgh Hayes, N 2000, Foundations of psychology, Thomson, London Koelen, M Van den Ban, A 2010, Health education and health promotion, Wageningen Academic Publishers, Melbourne Milgram, 1974, Obedience to authority: an experimental view, HarperCollins, London Turner, J 1991, Social influence, Open University Press, NY Wu, W 2003, ‘Compliance: the Milgram Experiment’ Practical psychology, June, pp. 23 Zimbardo, P 2007, ‘When good people do evil’ Yale Alumni magazine, Februar y, pp. 8 This essay on Social influence and anti social behaviour was written and submitted by user Anya Kirby 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.

Spending Time with Goran essays

Spending Time with Goran essays He stood there staring intently at me. I smiled apprehensively, unsure of how to approach him. My eyes traced over his frail body, his oversized clothes, his lopsided glasses and the slight drool on the side of his mouth. I was scared. How should I introduce myself? Does he even know I am standing here? How would he react? Slowly I bent down to eye level with him and awkwardly held out my arms to him. Slowly but deliberately, I said, "Goran, my name is Stephanie...we will spend the next few days together to chat and play." His eyes keenly studied the contours of my face, but he remained motionless. The seconds ticked by, though it seemed like a lifetime. Finally, he flashed me a goofy grin which melted my heart and broke the ice between us. Spending time with Goran gave me the most profound experience of my life. He is a mentally handicapped ten-year-old boy with barely the IQ of a three-year-old. Unable to take care of himself or perform simple tasks, he is helpless in our society. With constant asthma attacks and frequent nosebleeds due to dehydration, Goran's daily life is one of never-ending struggle and frustration. Yet despite the adversities he faces daily, his optimism and spirit have not been dampened. Goran has a keen sense of compassion and immeasurable capacity to love. He shows this through his warm hugs and the way he offers his hand for me to hold. He has even mastered the skill of blowing fly kisses. Spending time with Goran made me respect him for who he is and made me realize that in spite of his inadequacies, he too is a human being, capable of crying, laughing, and of feeling joy and sadness. The happy moments I spent with Goran were vividly etched in my mind. Through sharing experiences together, I gave him the feeling that he was wonderful and loved, and he taught me how to strive under adverse situations, to create and cherish happy moments in life. I remember one experience when we made a kite out of c...

1984 Quotes Explained

1984 Quotes Explained George Orwells novel Nineteen Eighty-Four was written as a response to what he saw as the rise of authoritarian and totalitarian thinking in the world both before and after World War II. Orwell foresaw how the combination of control over information (such as the constant editing of documents and photos under Joseph Stalin in the Soviet Union) and constant efforts at thought control and indoctrination (such as that practiced under Chairman Mao’s ‛cultural revolution’ in China) could result in a surveillance state. He set out to demonstrate his fears with the novel that has permanently changed the way we discuss the subject of freedom, giving us words like ‛Thoughtcrime’ and phrases like ‛Big Brother is watching you.’ Quotes About Control of Information Winston Smith works for the Ministry of Truth, where he alters the historical record to match the Party’s propaganda. Orwell understood that control of information without the objective check on such power provided by a free press would allow governments to essentially change reality. In the end the Party would announce that two and two made five, and you would have to believe it. It was inevitable that they should make that claim sooner or later: the logic of their position demanded it ... And what was terrifying was not that they would kill you for thinking otherwise, but that they might be right. For, after all, how do we know that two and two make four? Or that the force of gravity works? Or that the past is unchangeable? If both the past and the external world exist only in the mind, and if the mind itself is controllable†¦what then? Orwell took inspiration from a real event in Russia where the communist party celebrated reaching a production goal in four years instead of five by proclaiming that the workers had made 225. In this quote he notes that we only ‛know’ things that have been taught to us, and thus our reality can be changed. In Newspeak there is no word for Science. Newspeak is the most crucial concept in the novel. It is a language designed to make disagreement with the Party impossible. This goal is achieved by eliminating all vocabulary and grammatical constructions that could be construed as critical or negative. For example, in Newspeak, the word bad does not exist; if you wanted to call something bad, you would have to use the word ungood. Doublethink means the power of holding two contradictory beliefs in ones mind simultaneously, and accepting both of them. Doublethink is another important concept Orwell explores in the novel, because it makes the Party members complicit in their own oppression. When one is able to believe two conflicting things to be true, truth ceases to have any meaning outside what the state dictates. Who controls the past controls the future: who controls the present controls the past. People represent history through their own memories and identities. Orwell is careful to note the vast generation gap opening up in Oceania; the children are enthusiastic members of the Thought Police, but the older people like Winston Smith retain memories of the time before, and thus must be treated like all history- altered by force if possible, eliminated and erased if not. Quotes About Totalitarianism Orwell used Nineteen Eighty-Four to explore the dangers of authoritarianism and totalitarian forms of government. Orwell was deeply suspicious of the tendency of governments to become self-perpetuating oligarchies, and he saw how easily people’s worst tendencies could be subverted to the will of an authoritarian regime. â€Å"A hideous ecstasy of fear and vindictiveness, a desire to kill, to torture, to smash faces in with a sledge hammer, seemed to flow through the whole group of people ... turning one even against ones will like an electric current, turning one even against ones will into a grimacing, screaming lunatic.† One technique Orwell explores is directing the unavoidable fear and anger experienced by the population away from the Party and the state. In the modern world, authoritarian demagogues often direct this anger towards immigrant groups and other ‛outsiders.’ â€Å"Sexual intercourse was to be looked on as a slightly disgusting minor operation, like having an enema. This again was never put into plain words, but in an indirect way it was rubbed into every Party member from childhood onwards.† This quote demonstrates how the state has invaded even the most private aspects of life, dictating sexual mores and controlling the most intimate aspects of daily life through misinformation, peer pressure, and direct thought control. â€Å"All beliefs, habits, tastes, emotions, mental attitudes that characterize our time are really designed to sustain the mystique of the Party and prevent the true nature of present-day society from being perceived.† Orwell cleverly makes Emmanuel Goldstein’s book an accurate explanation of totalitarianism. Goldsteins book, Goldstein himself, and The Brotherhood may well be part of a ruse created by the Party to snare would-be rebels like Winston and Julia; nevertheless, the book lays out how a totalitarian government sustains its hold on power, in part by controlling outward expression, which has a direct effect on inward thought. Quotes About Destruction of the Self In the novel, Orwell is warning us about the ultimate goal of such governments: The absorption of the individual into the state. In democratic societies, or at least one which have a sincere respect for democratic ideals, the individual’s right to their beliefs and opinions is respected- indeed, it’s the foundation of the political process. In Orwell’s nightmare vision, therefore, the key goal of the Party is destruction of the individual. The thought police would get him just the same. He had committedwould have committed, even if he had never set pen to paperthe essential crime that contained all others in itself. Thoughtcrime, they called it. Thoughtcrime was not a thing that could be concealed forever. You might dodge successfully for a while, even for years, but sooner or later they were bound to get you. Thoughtcrime is the essential concept of the novel. The idea that simply thinking something contrary to what the Party has decreed to be true is a crime- and then convincing people that its revelation was inevitable- is a chilling, terrifying idea that requires people to self-edit their thoughts. This, combined with Newspeak, makes any sort of individual thought impossible. For an instant he was insane, a screaming animal. Yet he came out of the blackness clutching an idea. There was one and only one way to save himself. He must interpose another human being, the body of another human being, between himself and the rats. ... Do it to Julia! Do it to Julia! Not me! Julia! I dont care what you do to her. Tear her face off, strip her to the bones. Not me! Julia! Not me! Winston initially endures his torture with desolate resignation, and holds onto his feelings for Julia as a final, private, untouchable part of his inner self. The Party is uninterested in merely getting Winston to recant or confess- it wishes to completely destroy his sense of self. This final torture, based on a primal fear, accomplishes this by making Winston betray the one thing he had left of his private self.

Has the improved explosive device impacted our ability to develop a Essay

Has the improved explosive device impacted our ability to develop a reasonably priced tactical vehicle - Essay Example The aim of selecting these sites is for them to explode underneath or beside a vehicle causing maximum damage2. The improvement of the vehicle armor on the military vehicle has made the insurgents to place IEDs on raised positions like utility poles, road signs or trees so as to be able to hit the less protected areas. In Afghanistan, it was reported by military experts in January 2010 that Taliban fighters had already developed a new, almost undetectable generation of the IEDs. This new generation has no metallic or electronic parts compared to the previous IEDs that were triggered by two blades of hack-saw separated by a spacer. The most recent and lethal means of exploding the IEDs is the trigger mechanism which incorporates either the use of the radio, cell phone, is victim-operated or infrared device which makes it difficult to detect or disarm them. Impacts of Improved Explosive Devices (IEDs) in Iraq and Afghanistan on US Army’s Ability to Develop a Reasonably Priced Ta ctical Vehicle Due to the new inventions and improvements in the use of IEDs, law enforcement and military forces personnel have come up with several RSP (render safe procedures) to curb the threat of IEDs. These RSP may be developed from direct experience with the devices or research applied which is designed to counter the threat. Among countermeasures put in place include the application of the underbelly armor applique’ on the EFV (Expeditionary Fighting Vehicle) as it comes ashore and before their encounter with the IEDs following the June 2007 letter from the Subcommittee of House Armed Services on Expeditionary Forces and Sea Power to the marine corps commandant3. The January and February 2010 tests at the centre of Aberdeen showed that the EFV offers protection on blast equal to 2nd category protected vehicle of the mine resistant ambush, including two IEDs which are simulated on its tracks and under its belly4. Improved explosive devices (IEDs) in Iraq and Afghanista n have also impacted the US army’s ability to develop a reasonably priced tactical vehicle. This is because it has since helped in the development of improvised vehicle armor. This is an armor that is added or centrally planned in the field, which was originally part of the design. In the recent US-Iraq and US-Afghanistan wars, US troops armored their Humvees in their war against Iraq. Their transport vehicles were also armored with scrap materials. The Americans came to know this as â€Å"hillbilly armor or hajji armor† when Iraqi contractors installed it5. In Afghanistan, the US troops lined their vehicles’ floor with sandbags to provide them with extra protection against improvised explosive devices. Sometimes, US tanks had tracks of spare strips welded on the hulls6. However, this was to provide them short lived protection, as the Iraqis and Afghanistan’s learnt about it and devised the devices in a way that they could destroy them by use of new trigg er mechanisms. This was a loss to the US army because despite the investment, the impact was not to last for long, and they had to find another means of dealing with the trigger mechanism. When Baghdad was captured by US troops, vehicles of military police were fully installed with required machinery. However, road side bombs, snipers, RPG teams and small alarms were deployed by insurgent forces to attack US military vehicles on known routes and supply conveys. American troops protected themselves from such threats by

Business ethic Essay Example | Topics and Well Written Essays - 500 words - 1

Business ethic - Essay Example In conclusion, the challenge was on both AWB and oil protocol. The main stakeholders in the case study are Iraq government and the international community including the US and Australia. Likewise, the primary interest of Australia was to obtain oil while offering food support to help in the recovery of the war torn Iraq after the desert storm. The primary interest of the Iraq government led by Saddam Hussein focused on protection of personal interest and development of the weapons of mass destruction. The ethical framework theories such as the teleological ethics can apply to the situation because it is based on the end result of the action. For instance, the food for oil, programs main aim was to ensure the Iraqis do not die of hunger after the operation desert storm which leads to loss of food reserves. However, the end result of the program was massive corruption making the idea wrong based on the teleological ethics theory. The consequence of the approach of the makes it a wrong approach in Iraq because of massive corruption and strengthening of the incumbent government which latter stocked itself with banned weapons including biological weapons of mass destruction. Utilitarianism ethical theory focuses on the greatest benefit to the greatest number of people. For instance, the attack of Iraq because of the existence of the biological weapons was considered a best option because it would benefit the whole world. Therefore, the theory supports the invasion of Iraq by the inter national community. The decision to open case against the eleven executive members of the AWB board is end product of unethical approach in problem solving for the Iraq case. The best approach was to ensure that the Iraq government pays for the goods and service provided instead of working on the Oil for Food strategy which failed miserable and led to empowerment of the incumbent government. In a good strategy in solving strategy ensures that

HSBC Bank Mortgage Policies Analysis

HSBC Bank Mortgage Policies Analysis INTRODUCTION: Home is the need of every human being and having their own home is dream of every human being. In the United Kingdom price of the houses are very high and it is not possible for every citizen to buy their own home without taking financial help from financial organization like banks or building societies. When bank or a building society helps someone financially by providing loan, so that a citizen is able to buy his/her own home is called mortgage. In other words we can say a mortgage represents a loan on a property or house that has to be paid over a specified period of time. As financial help is always needed for smooth run of ones life so for the convenience of the people there are many financial organizations such as banks help the people financially, who want to buy their own home and property. So mortgage was introduced by the banks, from which people can get financial help so that one is able to buy his/her own home and property. Mortgage system is very popular among the people of the United Kingdom because this is the only way to buy their own property. As we know that the mortgage is that sum of money which is borrowed from the Bank or Building Society for buying a property and that borrowed amount has to be paid back with principle plus interest within fixed time period. Today mortgage has great importance as it is the only way with the help of which people are able to buy their own property. This dissertation report is based on the theory of research over the mortgage system of HSBC Bank and specifying the various strategies and policies of thei r mortgage system. The purpose of this report is to critically evaluate the mortgage system of HSBC Bank. Company Background: HSBC Bank has its headquarters in London. HSBC took its name from the Hong Kong and Shanghai Corporation which was founded in 1865 to finance trade between China and Europe. HSBC is one of the largest banking and financial services organization in the world. HSBC has 8,000 offices globally. HSBC Bank is one of the major clearing banks in the United Kingdom having more assets than any other bank. The business ranges from the traditional High Street roles of personal finance and commercial banking, to private banking, consumer finance as well as corporate and investment banking. HSBC is listed on the stock exchanges of London, Hong Kong, New York, Paris having around 220,000 shareholders in 119 countries and territories. HSBC has 1500 branches in United Kingdom. HSBC Bank plc is incorporated in England and Wales and established at 8 Canada Square, London E14 5HQ which is its Registered Office. This bank is regulated by the Financial Services Authority and is registered in the Financial Services Authority Register with the Registration Number: 114216. HSBC Bank is member of the Financial Ombudsman Scheme. Literature Review: A mortgage is a conveyance of land or an assignment of chattels as a security for payment of a debt or the discharge of some other obligation for which it is given. This is the idea of a mortgage; and the security is redeemable on the payment or discharge of such debt or obligation, any provision to the contrary notwithstanding (Stanley Wilde 1899) Per Lindley MR. The mortgage is derived from the two words i.e. mort and gage which means dead pledge. The mortgage is usually signed by the borrower and agreed before a public notary and is recorded with the County Recorder. In the mortgage system if the mortgagor fails to pay the installment then the lender has right to close out the mortgage and can sale the property to get the payment for future.(Jack P Friedman, 2003 p.173-204) The mortgage is a  loan  to  finance  for the  purchase  of  real estate, with a specified interest rates and fixed payment time period. The  borrower (mortgagor) gives the  lender  (mortgagee) a  lien  on the property  as  collateral  for the loan. People can borrow money to buy a home and pay interest on the mortgage to the lender (Bank or Building Society). The Lender (Bank) uses borrowers property as security for the loan. This term means that if the borrower fails to pay the monthly installment then lender (Bank) may repossess property. An individual can apply for mortgage from any bank like HSBC, Lloyds TSB, Barclays, and Santander or from Nationwide (Building Society) or from Islamic Bank of Britain. The mortgage makes very easier to pay the huge amount in the monthly installment for the fixed time depends on the mortgage plan. (Jack Guttentag, 2004). The mortgage which suits you the best depends on many parameters which mainly include your risk enduring capacity, your personal financial goals and capabilities and your income. In the presence of so many options and offers present in the market it can surely become a daunting task to select the best mortgage option for you. Considering your dilemma we at finance-strategy.com came up with some useful tit bits which when kept in mind can surely help you make a wise decision towards taking a mortgage. An adjustable rate mortgage is perfect for those situations where you have to stay in that house for a short period of time and when the interest rates in the market are low and are expected to stay so too during the coming times. On the other hand a fixed rate mortgage fits those situations where in you decide to won that house for a longer period of time and the interest rates too are very high at the moment with chances of volatility in the near future. A fixed interest cushions you against these turbulent conditions. The advantages and disadvantages of mortgages will surely take us a step closer towards deciding it for sure if taking a mortgage is the best solution for your situation. Advantages: The most important advantage associated with a mortgage is the fact that it allows us to retain the ownership of our property and at the same time helps us in getting financial aid too. There is no need for one to sell or let go of his property to seek some money in exchange. In a mortgage the lender does not receive any share in the ownership of the property but is only entitled to take back the principal amount and the interest accumulated on the principal amount lent by him to you. the lender can only claim ownership on your property in case you default on the repayment schedule. The other benefit associated with mortgage is the fact that the interest payments on the mortgage are tax free in nature. Since the schedules of repayment are pre fixed and decided it allows you to plan your financials and expenses accordingly thereby simplifying the entire process for you. By availing a mortgage you now have access to cash flow which you were not having in normal conditions and can now use it to fulfill your needs and requirements. Disadvantages: The need of depositing collateral as security works out to be the biggest drawback of mortgages. It restricts the kind of people who can avail a mortgage as only home owners or other asset owners can do so. Also, in case that you default on your payment the lender has the right to claim the property deposited by you as collateral and then subsequently sell it off to claim back the loaned amount he had given you. You have to ensure while taking the mortgage that there is a clause mentioned therein that on repayment of the mortgage the lender has to release the ownership title submitted to him by you. The lender as per his convenience can define several events which he mat term as a default and generally includes inability to pay back the loan, bankruptcy, insolvency or any breach in the mortgage agreement. Therefore the risk of you ending up losing your property increases substantially. Repayment Of Mortgages There are two methods of repaying mortgage, one can choose from these two methods according to ones personal circumstances. Capital Repayment: With a capital repayment plan, monthly payment covers the interest charged on mortgage and it also reduces the outstanding balance each month in line with the term selected. With this repayment plan, one can ensure mortgage is fully paid off at the end of the mortgage period. What we get with the repayment option: Interest and capital repaid monthly payment covers the interest and also reduces the total balance outstanding Secure providing all payments are made, the mortgage will be repaid in full at the end of the agreed mortgage term Choose your repayment term up to a maximum of 30 years. Capital repayment is a repayment option on all of our mortgage products fixed rate, tracker and discount mortgages. Interest only: With an interest only option, monthly payment covers only the interest charged on mortgage, freeing up cash to spend elsewhere or to invest to pay off mortgage at the end of the mortgage term. By repaying only the interest on mortgage, monthly repayments are lower than with an equivalent capital repayment mortgage. What we get with the Interest only option: Interest only the monthly payment covers just the interest and the original capital amount borrowed remains outstanding throughout the term of the loan Lower monthly payments because capital is not repayed, monthly payments will be lower than with a capital repayment mortgage Long repayment term up to a maximum of 40 years Lower borrowing limit up to a maximum of 75% of the purchase price or the valuation of property (whichever is lower) Availability Interest only loans are restricted to home buyers or customers remortgaging from a competitor. Not available to existing customers borrowing further funds. Mortgage products of HSBC Bank Fixed Rate Mortgages: Repayments are fixed for the duration of the fixed term, and because it doesnt vary, monthly repayments remain the same regardless of what happens to interest rates HSBC currently offers fixed-rate mortgages over 2 and 5 year periods. At the end of the period mortgage will revert to the HSBC Variable Rate unless borrower decide to move to another product Feature Fixed Rate Interest Type Fixed Interest Calculated Daily Yes Unlimited over payments without incurring a charge No Early repayment charge Yes Extended tie in period No Exit fee No Can loan can be port if a person move home Yes In Fixed Rate Mortgages early repayment charge applies during the fixed rate period, and if we increase our standard monthly payment by more than 20% or repay, by any other method, the whole or any part of the mortgage, over and above your standard monthly payment during your fixed rate period Tracker Mortgages: The tracker interest we pay is an agreed percentage above the Bank of Englands Base rate. As the base rate rises and falls, the tracker will track these changes, and so rise and fall accordingly. This will affect the monthly payments HSBC Tracker mortgages are Lifetime trackers, in that they track the Base rate for the lifetime of the loan. Therefore we do not have to worry about coming to the end of a deal, and subsequently switching, with the associated costs. Should Base rates rise you can select to move to a fixed rate where booking fees may be payable. Feature Fixed Rate Interest Type Variable Interest Calculated Daily Yes Unlimited over payments without incurring a charge Yes Early repayment charge No Extended tie in period No Exit fee No Can loan can be port if a person move home Yes Discount Mortgages: A discount mortgage is a variable rate mortgage that offers an interest rate that is a discount off the HSBC Variable Rate for an agreed period (e.g. 2 years). With a discount mortgage, monthly payments will go up and down as the HSBC Variable Rate rises and falls. The HSBC Variable Rate is a rate that is internally set by HSBC. An early repayment charge applies during the discounted rate period, and if we increase our standard monthly payment by more than 20% or repay, by any other method, the whole or any part of the mortgage, over and above our standard monthly payment during your discounted rate period. Feature Fixed Rate Interest Type Variable Interest Calculated Daily Yes Unlimited over payments without incurring a charge No Early repayment charge Yes Extended tie in period No Exit fee No Can loan can be port if a person move home Yes GOVT STATISTICS: According to the government statistics the Mortgage Rescue Scheme used to monitor the statistics which usually gives information on the number of householders with having the mortgage difficulties. This scheme has two main elements: Government Mortgage to Rent and â‚ ¬Ã‹Å"Shared Equity The figures which are presented by Government Office Region are usually based on this scheme and submitted to Local Government by local authorities and communities. Local authority figures do not contain estimates for missing returns. Information on the local authority response rate is provided alongside the reported figures for each period. Figures for different periods are shown on separate tabs in the workbook. This is under the Ministry of Justice and the council of mortgage lenders. (www.communities.gov.uk/publications/corporate/statistics/mortgagerescuestatistics2010) Mortgage and landlord possession statistics (NS) 13 March 2010 Quarterly National Statistics on possession actions issued in county courts by mortgage lenders and social and private landlords in England and Wales. This is released quarterly by the ministry of justice and in relation with UK statistics authority. Justification: As having the field of banking I am quite interesting in reviewing the different strategies followed by the banks in the various fields. Moreover it is accessible for me to collect the information regarding my topic as my friend is serving for the both banks. From them I can get the required data regarding my dissertation. The reason behind choosing this topic is that I can get a direction for my future perspective by having the detailed study of this topic. RESEARCH QUESTIONS: The most important parts of the research needed to be covered are as follow:- What are the major resemblances among commercial mortgage in the Britain? What are the considerations customers should employ when choosing a mortgage product? RESEARCH OBJECTIVES: The below mentioned aims are set up on the foundation of planned research questions: To study the different mortgage products of HSBC Bank To recognize the important advantages of the HSBC mortgages over the other commercial mortgages system in the country, To discover the suitable measure. RESEARCH METHOD: Research plan is very important the main component of the research method. In this research method we will give the fundamental sketch of complete research scheme. Research method is the basic initiation of the entire research in it will plan that the how and when the research will be completed and what actions are required to accomplish this task.   This section aims to explain the type of research methods that would be used for the analysis of the proposed company. The results of the research would indicate the range of services that need to be offered, and the suitability of these services for the target market.  Moore (2000)  explains how the methods used will be influenced by constraints, such as time and money. It is important to consider all the methods available and choose a method that is most likely to achieve the objective of the research. Inductive and deductive Approach: RESEARCH OPINION: In the research onion is used to define the whole process of research strategy in detail the generic research process â‚ ¬Ã‹Å"onion support the researchers and give them the direction to do work. (Saunders et al, 2000) There are the different layers which represents the following aspects of the Research Methodology. Research Philosophy Research Approach Research Strategy Time Horizons Data Collection Methods Primary and Secondary Research   Primary data is that type of information which is new and that hasnt been used or collected before. On the other hand the secondary data is that information which has been collected earlier, by some other sources for their own purpose and can used by others for their convenience .(Saunders et al. 1997). Secondary research is also very important for the establishment of data and the collection of data for the current issues and this also helps to discover the relevant studies which can be carried in the past time. Advantages and disadvantages of primary and secondary research methods Primary Research Advantages: This can be used by face to face conversation in the form of interviews or by the telephonic interview. This is used by the help of technology by using mobile phones and through internet communication. A large group of people can be cover in many areas. Wider coverage of geographical areas. This method is cheaper one. . Disadvantages: There are problems to prepare it. The Questions put in this are generally easy to answer. Lower response for the historic things. Time consuming. Secondary Research Advantages: This is time saving method. This can be used by any firm for the research. Sometime this depends upon the type of research which has to be conducted, for that case their advantages and disadvantages vary. Probably accurate. Disadvantages The main disadvantage is that there is no up to date and is collected over the time. And there may be changes in that data which has to be updated. Data may be in unsuitable format. The data is free to all and there no competitive advantages the organisation (Ghauri and Gronhaug, 2002) Qualitative and Quantitative Research   The table below outlines the differences between qualitative and quantitative data: Qualitative Quantitative This research is based on words which are expressed in meaning. Based on derived  from numbers and data. Results collected are non-standardized and data require classification into categories and not in the numerical form. Result of collection is in the numerical form and data is standardized. Conceptualism is used for conduct the analysis. Analysis conducted through there is use   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Of diagrams and statistics. (Dey (1993); Healey and Rawlinson (1994), cited in Saunders et al (2003)) SELECTION OF METHOD: As I have the topic of mortgage system it will be suitable for my topic if I will go through mixture of both approaches i.e. both secondary and primary resources. This will be helpful in collecting the relevant data according to the need and will be useful in going to the depth of the research. On my part it is valuable to go through by considering the research onion. Regarding this I will concern both approaches for my research given by (Saunders and Thornhill in 2000). ETHICS: The main source of data collection methods for my research is quantitative method which is useful for collecting the facts and figure for my research. Moreover I have contacts in the both banks for collecting the information. The manager Of HSBC Bank is in contact with me and he agreed to assist me in providing information as per my requirement. In order to make my research more accurate I will use the secondary data and primary data sources as well. By this I can get all the information regarding the mortgage system of the both banks with the required form of data in order to take the comparison of the policies given by the both banks for the mortgage system they provided to their customers. For the guidelines I will do all the work under my supervisor and take suggestion and help of my supervisor time to time to complete my dissertation. SCOPE: The topic of mortgage system has wider scope in the present time as there is a great demand for the mortgage products in the current market position. The theory of my topic is controllable therefore I can do better by keep in mind the wider scope of my study. Even this will help me in future to get the good job in Banking Industry. HSBC Bank Mortgage Policies Analysis HSBC Bank Mortgage Policies Analysis INTRODUCTION: Home is the need of every human being and having their own home is dream of every human being. In the United Kingdom price of the houses are very high and it is not possible for every citizen to buy their own home without taking financial help from financial organization like banks or building societies. When bank or a building society helps someone financially by providing loan, so that a citizen is able to buy his/her own home is called mortgage. In other words we can say a mortgage represents a loan on a property or house that has to be paid over a specified period of time. As financial help is always needed for smooth run of ones life so for the convenience of the people there are many financial organizations such as banks help the people financially, who want to buy their own home and property. So mortgage was introduced by the banks, from which people can get financial help so that one is able to buy his/her own home and property. Mortgage system is very popular among the people of the United Kingdom because this is the only way to buy their own property. As we know that the mortgage is that sum of money which is borrowed from the Bank or Building Society for buying a property and that borrowed amount has to be paid back with principle plus interest within fixed time period. Today mortgage has great importance as it is the only way with the help of which people are able to buy their own property. This dissertation report is based on the theory of research over the mortgage system of HSBC Bank and specifying the various strategies and policies of thei r mortgage system. The purpose of this report is to critically evaluate the mortgage system of HSBC Bank. Company Background: HSBC Bank has its headquarters in London. HSBC took its name from the Hong Kong and Shanghai Corporation which was founded in 1865 to finance trade between China and Europe. HSBC is one of the largest banking and financial services organization in the world. HSBC has 8,000 offices globally. HSBC Bank is one of the major clearing banks in the United Kingdom having more assets than any other bank. The business ranges from the traditional High Street roles of personal finance and commercial banking, to private banking, consumer finance as well as corporate and investment banking. HSBC is listed on the stock exchanges of London, Hong Kong, New York, Paris having around 220,000 shareholders in 119 countries and territories. HSBC has 1500 branches in United Kingdom. HSBC Bank plc is incorporated in England and Wales and established at 8 Canada Square, London E14 5HQ which is its Registered Office. This bank is regulated by the Financial Services Authority and is registered in the Financial Services Authority Register with the Registration Number: 114216. HSBC Bank is member of the Financial Ombudsman Scheme. Literature Review: A mortgage is a conveyance of land or an assignment of chattels as a security for payment of a debt or the discharge of some other obligation for which it is given. This is the idea of a mortgage; and the security is redeemable on the payment or discharge of such debt or obligation, any provision to the contrary notwithstanding (Stanley Wilde 1899) Per Lindley MR. The mortgage is derived from the two words i.e. mort and gage which means dead pledge. The mortgage is usually signed by the borrower and agreed before a public notary and is recorded with the County Recorder. In the mortgage system if the mortgagor fails to pay the installment then the lender has right to close out the mortgage and can sale the property to get the payment for future.(Jack P Friedman, 2003 p.173-204) The mortgage is a  loan  to  finance  for the  purchase  of  real estate, with a specified interest rates and fixed payment time period. The  borrower (mortgagor) gives the  lender  (mortgagee) a  lien  on the property  as  collateral  for the loan. People can borrow money to buy a home and pay interest on the mortgage to the lender (Bank or Building Society). The Lender (Bank) uses borrowers property as security for the loan. This term means that if the borrower fails to pay the monthly installment then lender (Bank) may repossess property. An individual can apply for mortgage from any bank like HSBC, Lloyds TSB, Barclays, and Santander or from Nationwide (Building Society) or from Islamic Bank of Britain. The mortgage makes very easier to pay the huge amount in the monthly installment for the fixed time depends on the mortgage plan. (Jack Guttentag, 2004). The mortgage which suits you the best depends on many parameters which mainly include your risk enduring capacity, your personal financial goals and capabilities and your income. In the presence of so many options and offers present in the market it can surely become a daunting task to select the best mortgage option for you. Considering your dilemma we at finance-strategy.com came up with some useful tit bits which when kept in mind can surely help you make a wise decision towards taking a mortgage. An adjustable rate mortgage is perfect for those situations where you have to stay in that house for a short period of time and when the interest rates in the market are low and are expected to stay so too during the coming times. On the other hand a fixed rate mortgage fits those situations where in you decide to won that house for a longer period of time and the interest rates too are very high at the moment with chances of volatility in the near future. A fixed interest cushions you against these turbulent conditions. The advantages and disadvantages of mortgages will surely take us a step closer towards deciding it for sure if taking a mortgage is the best solution for your situation. Advantages: The most important advantage associated with a mortgage is the fact that it allows us to retain the ownership of our property and at the same time helps us in getting financial aid too. There is no need for one to sell or let go of his property to seek some money in exchange. In a mortgage the lender does not receive any share in the ownership of the property but is only entitled to take back the principal amount and the interest accumulated on the principal amount lent by him to you. the lender can only claim ownership on your property in case you default on the repayment schedule. The other benefit associated with mortgage is the fact that the interest payments on the mortgage are tax free in nature. Since the schedules of repayment are pre fixed and decided it allows you to plan your financials and expenses accordingly thereby simplifying the entire process for you. By availing a mortgage you now have access to cash flow which you were not having in normal conditions and can now use it to fulfill your needs and requirements. Disadvantages: The need of depositing collateral as security works out to be the biggest drawback of mortgages. It restricts the kind of people who can avail a mortgage as only home owners or other asset owners can do so. Also, in case that you default on your payment the lender has the right to claim the property deposited by you as collateral and then subsequently sell it off to claim back the loaned amount he had given you. You have to ensure while taking the mortgage that there is a clause mentioned therein that on repayment of the mortgage the lender has to release the ownership title submitted to him by you. The lender as per his convenience can define several events which he mat term as a default and generally includes inability to pay back the loan, bankruptcy, insolvency or any breach in the mortgage agreement. Therefore the risk of you ending up losing your property increases substantially. Repayment Of Mortgages There are two methods of repaying mortgage, one can choose from these two methods according to ones personal circumstances. Capital Repayment: With a capital repayment plan, monthly payment covers the interest charged on mortgage and it also reduces the outstanding balance each month in line with the term selected. With this repayment plan, one can ensure mortgage is fully paid off at the end of the mortgage period. What we get with the repayment option: Interest and capital repaid monthly payment covers the interest and also reduces the total balance outstanding Secure providing all payments are made, the mortgage will be repaid in full at the end of the agreed mortgage term Choose your repayment term up to a maximum of 30 years. Capital repayment is a repayment option on all of our mortgage products fixed rate, tracker and discount mortgages. Interest only: With an interest only option, monthly payment covers only the interest charged on mortgage, freeing up cash to spend elsewhere or to invest to pay off mortgage at the end of the mortgage term. By repaying only the interest on mortgage, monthly repayments are lower than with an equivalent capital repayment mortgage. What we get with the Interest only option: Interest only the monthly payment covers just the interest and the original capital amount borrowed remains outstanding throughout the term of the loan Lower monthly payments because capital is not repayed, monthly payments will be lower than with a capital repayment mortgage Long repayment term up to a maximum of 40 years Lower borrowing limit up to a maximum of 75% of the purchase price or the valuation of property (whichever is lower) Availability Interest only loans are restricted to home buyers or customers remortgaging from a competitor. Not available to existing customers borrowing further funds. Mortgage products of HSBC Bank Fixed Rate Mortgages: Repayments are fixed for the duration of the fixed term, and because it doesnt vary, monthly repayments remain the same regardless of what happens to interest rates HSBC currently offers fixed-rate mortgages over 2 and 5 year periods. At the end of the period mortgage will revert to the HSBC Variable Rate unless borrower decide to move to another product Feature Fixed Rate Interest Type Fixed Interest Calculated Daily Yes Unlimited over payments without incurring a charge No Early repayment charge Yes Extended tie in period No Exit fee No Can loan can be port if a person move home Yes In Fixed Rate Mortgages early repayment charge applies during the fixed rate period, and if we increase our standard monthly payment by more than 20% or repay, by any other method, the whole or any part of the mortgage, over and above your standard monthly payment during your fixed rate period Tracker Mortgages: The tracker interest we pay is an agreed percentage above the Bank of Englands Base rate. As the base rate rises and falls, the tracker will track these changes, and so rise and fall accordingly. This will affect the monthly payments HSBC Tracker mortgages are Lifetime trackers, in that they track the Base rate for the lifetime of the loan. Therefore we do not have to worry about coming to the end of a deal, and subsequently switching, with the associated costs. Should Base rates rise you can select to move to a fixed rate where booking fees may be payable. Feature Fixed Rate Interest Type Variable Interest Calculated Daily Yes Unlimited over payments without incurring a charge Yes Early repayment charge No Extended tie in period No Exit fee No Can loan can be port if a person move home Yes Discount Mortgages: A discount mortgage is a variable rate mortgage that offers an interest rate that is a discount off the HSBC Variable Rate for an agreed period (e.g. 2 years). With a discount mortgage, monthly payments will go up and down as the HSBC Variable Rate rises and falls. The HSBC Variable Rate is a rate that is internally set by HSBC. An early repayment charge applies during the discounted rate period, and if we increase our standard monthly payment by more than 20% or repay, by any other method, the whole or any part of the mortgage, over and above our standard monthly payment during your discounted rate period. Feature Fixed Rate Interest Type Variable Interest Calculated Daily Yes Unlimited over payments without incurring a charge No Early repayment charge Yes Extended tie in period No Exit fee No Can loan can be port if a person move home Yes GOVT STATISTICS: According to the government statistics the Mortgage Rescue Scheme used to monitor the statistics which usually gives information on the number of householders with having the mortgage difficulties. This scheme has two main elements: Government Mortgage to Rent and â‚ ¬Ã‹Å"Shared Equity The figures which are presented by Government Office Region are usually based on this scheme and submitted to Local Government by local authorities and communities. Local authority figures do not contain estimates for missing returns. Information on the local authority response rate is provided alongside the reported figures for each period. Figures for different periods are shown on separate tabs in the workbook. This is under the Ministry of Justice and the council of mortgage lenders. (www.communities.gov.uk/publications/corporate/statistics/mortgagerescuestatistics2010) Mortgage and landlord possession statistics (NS) 13 March 2010 Quarterly National Statistics on possession actions issued in county courts by mortgage lenders and social and private landlords in England and Wales. This is released quarterly by the ministry of justice and in relation with UK statistics authority. Justification: As having the field of banking I am quite interesting in reviewing the different strategies followed by the banks in the various fields. Moreover it is accessible for me to collect the information regarding my topic as my friend is serving for the both banks. From them I can get the required data regarding my dissertation. The reason behind choosing this topic is that I can get a direction for my future perspective by having the detailed study of this topic. RESEARCH QUESTIONS: The most important parts of the research needed to be covered are as follow:- What are the major resemblances among commercial mortgage in the Britain? What are the considerations customers should employ when choosing a mortgage product? RESEARCH OBJECTIVES: The below mentioned aims are set up on the foundation of planned research questions: To study the different mortgage products of HSBC Bank To recognize the important advantages of the HSBC mortgages over the other commercial mortgages system in the country, To discover the suitable measure. RESEARCH METHOD: Research plan is very important the main component of the research method. In this research method we will give the fundamental sketch of complete research scheme. Research method is the basic initiation of the entire research in it will plan that the how and when the research will be completed and what actions are required to accomplish this task.   This section aims to explain the type of research methods that would be used for the analysis of the proposed company. The results of the research would indicate the range of services that need to be offered, and the suitability of these services for the target market.  Moore (2000)  explains how the methods used will be influenced by constraints, such as time and money. It is important to consider all the methods available and choose a method that is most likely to achieve the objective of the research. Inductive and deductive Approach: RESEARCH OPINION: In the research onion is used to define the whole process of research strategy in detail the generic research process â‚ ¬Ã‹Å"onion support the researchers and give them the direction to do work. (Saunders et al, 2000) There are the different layers which represents the following aspects of the Research Methodology. Research Philosophy Research Approach Research Strategy Time Horizons Data Collection Methods Primary and Secondary Research   Primary data is that type of information which is new and that hasnt been used or collected before. On the other hand the secondary data is that information which has been collected earlier, by some other sources for their own purpose and can used by others for their convenience .(Saunders et al. 1997). Secondary research is also very important for the establishment of data and the collection of data for the current issues and this also helps to discover the relevant studies which can be carried in the past time. Advantages and disadvantages of primary and secondary research methods Primary Research Advantages: This can be used by face to face conversation in the form of interviews or by the telephonic interview. This is used by the help of technology by using mobile phones and through internet communication. A large group of people can be cover in many areas. Wider coverage of geographical areas. This method is cheaper one. . Disadvantages: There are problems to prepare it. The Questions put in this are generally easy to answer. Lower response for the historic things. Time consuming. Secondary Research Advantages: This is time saving method. This can be used by any firm for the research. Sometime this depends upon the type of research which has to be conducted, for that case their advantages and disadvantages vary. Probably accurate. Disadvantages The main disadvantage is that there is no up to date and is collected over the time. And there may be changes in that data which has to be updated. Data may be in unsuitable format. The data is free to all and there no competitive advantages the organisation (Ghauri and Gronhaug, 2002) Qualitative and Quantitative Research   The table below outlines the differences between qualitative and quantitative data: Qualitative Quantitative This research is based on words which are expressed in meaning. Based on derived  from numbers and data. Results collected are non-standardized and data require classification into categories and not in the numerical form. Result of collection is in the numerical form and data is standardized. Conceptualism is used for conduct the analysis. Analysis conducted through there is use   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Of diagrams and statistics. (Dey (1993); Healey and Rawlinson (1994), cited in Saunders et al (2003)) SELECTION OF METHOD: As I have the topic of mortgage system it will be suitable for my topic if I will go through mixture of both approaches i.e. both secondary and primary resources. This will be helpful in collecting the relevant data according to the need and will be useful in going to the depth of the research. On my part it is valuable to go through by considering the research onion. Regarding this I will concern both approaches for my research given by (Saunders and Thornhill in 2000). ETHICS: The main source of data collection methods for my research is quantitative method which is useful for collecting the facts and figure for my research. Moreover I have contacts in the both banks for collecting the information. The manager Of HSBC Bank is in contact with me and he agreed to assist me in providing information as per my requirement. In order to make my research more accurate I will use the secondary data and primary data sources as well. By this I can get all the information regarding the mortgage system of the both banks with the required form of data in order to take the comparison of the policies given by the both banks for the mortgage system they provided to their customers. For the guidelines I will do all the work under my supervisor and take suggestion and help of my supervisor time to time to complete my dissertation. SCOPE: The topic of mortgage system has wider scope in the present time as there is a great demand for the mortgage products in the current market position. The theory of my topic is controllable therefore I can do better by keep in mind the wider scope of my study. Even this will help me in future to get the good job in Banking Industry.