The Strategy Adopted by Ikea free essay sample

Explain, in details, the strategy adopted by IKEA, and how it successfully did the positioning. ***At business level strategy Focus Strategies By implementing a cost leadership or differentiation strategy, IKEA choose to compete by exploiting their core competencies on an industry-wide basis and adopt a broad competitive scope. Alternatively, IKEA can choose to follow a focus strategy by seeking to use their core competencies to serve the needs of a particular customer group in an industry. In other words, IKEA focus on specific, smaller segments (or niches) of customers rather than across the entire market. Focused Business Level Strategies involve the same basic approaches as Broad Market Strategies. Focus strategies can be based either on cost leadership or differentiation. Focused Cost Leadership Strategy IKEA that compete by following cost leadership strategies to serve narrow market niches generally target the smallest buyers in an industry (those who purchase in such small quantities those industry-wide competitors cannot serve them at the same low cost). We will write a custom essay sample on The Strategy Adopted by Ikea or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Global furniture retailer IKEA provide customers with â€Å"affordable solutions for better living† through use of the focused cost leadership strategy.The company offers home furnishings that combine good design, function, and quality with low prices. IKEA does this by offering low-cost, modular furniture (assembled by customers), using self-service as an alternative to having sales associates follow and pressure customers to buy. IKEA displays its products in room-like settings so that customer can view different combinations of furniture, eliminating the need for assistance from sales associates or decorators to visualize the setting and reducing employee costs. Customers also pick up their own purchases to reduce the company’s costs. Finally, stores address the needs of shoppers (e. . , extended hours and in-store childcare) while they shop. Focused Differentiation Strategy IKEA following focused differentiation strategies produce customized products for small market segments. They can be successful when either the quantities involved are too small for industry-wide competitors to handle economically, or when the extent of customization (or differentiation) requested is beyond the capabilities of the industry-wide differentiator. For example, Manufacturers such as Ferrari, Aston Martin, and Lamborghini compete in the tiny super car category with prices starting at $150,000 and running as high as $600,000. These cars are more than just transportation. Just as was noted for industry-wide differentiators and low-cost producers, IKEA choosing to focus must be particularly adept at completing primary and secondary value chain activities in a superior way. Issues related to the five competitive forces are similar to those discussed for the differentiation and cost leadership strategies, except that the competitive scope of the focus is on a narrow segment rather than the industry. ***At corporate level strategyThe IKEA international strategy uses a franchise corporate level strategy spreading risks and sharing resources. And as IKEA has moved into an ever expansionist mode, pursuing both multi-point competition and vertical integration to achieve market power, it found markets ready and willing to adopt the IKEA mindset of low cost, European designed furniture – â€Å"supplying Scandinavian design at Asian prices†. Britain, for example, was wallowing with a complacent Habitat (nicknamed â€Å"Shabitat†) which IKEA came to own. This was another key to the IKEA success story – timing. An industry-wide competitor may recognize the attractiveness of the segment served by the focuser and mobilize its superior resources to better serve the segments needs. Preferences and needs of the narrow segment may become more similar to the broader market, reducing or eliminating the advantages of focusing. There are a focusing IKEA may be â€Å"out focused† by its competitors. A large competitor may set its sights on an IKEA’s niche market. Customer preferences in niche market may change to more closely resemble those of the broader market.It often involves compromises becoming neither the lowest cost nor the most differentiated IKEA. It becomes to â€Å"stuck in the middle†. The strong commitment are lacked and expertise that accompanies IKEAs following either a cost leadership or a differentiated strategy. 4 Based on your answer to the above, how can managers guard against such risks? A mixed strategy is not advisable because cost leadership and differentiation may call for inconsistent policies and conflicting demands on operations, budget allocations, choice of suppliers and distributors, etc.Pursuing them simultaneously may reduce the effectiveness of the policies resulting in weak or no advantages. It may also make it more difficult to create a clear image in the minds of customers. Priorities may also be unclear in the minds of staff. On the other hand, IKEAs in reality rarely competes purely on cost or differentiation. This shows that combining the two is possible. As long as the strategy does not require mutually conflicting practices, it is fine to mix the two. IKEA makes very few products internally and relies almost totally on its network of hundreds of suppliers.These collaborative long-term partnerships with suppliers are rooted deeply in IKEA’s corporate history, and the character of these ties has become part of the culture. It is through the suppliers that IKEA has been able to make innovative designs featuring environmentally responsible materials and an efficient use of resources and translate them into bottom-line results. The key suppliers, in turn, use links with IKEA as vehicles to stay innovative, because innovation is the only choice if the supplier wants to retain this powerful buyer; IKEA is powerful enough to be coercive, and â€Å"the giant† is not to be dismissed easily.Another aspect to consider in this case is a process that starts with regulation, which has prompted IKEA to work with key suppliers to meet the new requirements (pushing them to do so at equivalent or minimally increased costs). They develop a higher-quality product, which motivates IKEA’s competitors to match the design and materials innovations as well as the economic efficiencies. Meanwhile, the suppliers improved skills and capacities make it more competitive, enabling it to expand its business with old and new buyers.Consequently, the industry is stimulated to match and exceed the IKEA example, the natural environment wins because waste or pollution is reduced or eliminated, and the customer benefits by being able to purchase a better-quality product. Students should emerge from the discussion with a sense of how IKEA illustrates the ripple effects through markets, industries, and societies of innovation around environmental concerns (and IKEA is not an isolated example, merely an illuminating one).IKEA save to create by successfully transferring capabilities and competencies from one SBU to another SBU. The value is created from economies of scope through: Operational relatedness in sharing activities say purchase and sales ; corporate relatedness in transferring skills or corporate core competencies among units. The difference between sharing activities a nd transferring competencies is based on how the resources are jointly used to create economies of scope.

Urban Legend of the Drugged Perfume

Urban Legend of the Drugged Perfume A scary story making the Internet rounds since 1999 claims that criminals in the U.S. and elsewhere are using perfume samples spiked with ether  or some kind of knockout drug to render victims unconscious before assaulting them and/or stealing their valuables. Versions of this urban legend continue to circulate via email and social media. A Twitter message from 2015 is as follows: Pls if anyone stops U and ask if youre interested in some perfume and gives u a paper to smell, pls dont! Its a new scam, the paper is laced with drugs. Youll pass out so they can kidnap, rob or do worse things to you. Pls forward to all friends and family..Save a life please. This was received from a Senior police officer this morning. Take note and alert everyone you want to protect. This is not a joke please. Pass on to family and friends. This is from the UK. The Knockout Perfume Scam The closest any of these reports has come to being confirmed was the case of Bertha Johnson of Mobile, Alabama, who told police in November 1999 that she was robbed of $800 after sniffing a cologne sample offered by a stranger and subsequently passing out in her car. Toxicological tests revealed no foreign substances in Johnsons blood, however. Although the details have morphed over time, more recent versions of the story echo early news reports about the alleged Alabama incident. Instead of cologne, the tainted sample is now said to be perfume. Instead of an unknown soporific substance, the knockout drug is now said to be ether. Interestingly, the main moral message of the story, which was originally Beware of parking lot scammers, has evolved into If I hadnt read this warning, I could have been a victim too. And so could you! Its typical for rumors, hoaxes, and urban legends to change as theyre passed from person to person (or inbox to inbox). As anyone who has ever played the childrens game of Telephone can attest, perception and memory are fallible, and people tend to misremember and/or misreport what theyve heard. Moreover, its in the nature of storytelling (and storytellers) to creatively enhance a yarn to make it more impactful. These processes can be seen at work in the tale of The Knock-Out Perfume. Two Sniffs and Youre Out! On November 8, 1999, the Mobile, Alabama police department issued this press release: On Monday, November 8, 1999, at approximately 2:30 p.m. Officers from the Third Precinct responded to the World of Wicker, at 3055 Dauphin Street. When the Officers arrived the victim, 54-year-old Bertha Johnson of the 2400 block of St. Stephens Road, advised she was rendered unconscious after smelling an unknown substance. Johnson was approached by an unknown black female, who was described as follows: slim build, 120-130 pounds, 5 feet 7 inches tall and was last seen wearing a Leopard print wrap on her head and large gold loop earrings. The victim told Investigators the incident occurred at the Amsouth Bank at 2326 Saint Stephens Road. After the victim regained consciousness she discovered her property missing from her purse and her vehicle. The MOBILE POLICE DEPARTMENT is advising the public to be on alert for this type of activity. Local media jumped on the story. A November 10 article in the Mobile Register quoted Johnson as saying that her assailant offered her a $45 bottle of cologne for the bargain price of $8 and talked her into to sniffing a sample. She did, once, and detected nothing odd about the aroma. But when she sniffed it a second time, she said, she lost consciousness. The next thing Johnson knew, she was sitting in another parking lot miles away from where shed started, dazed, confused, and missing $800 in cash. I feel like I got flimflammed out of something that I should have known better than to even look out the window at her, Johnson told the Register. Within days of the incident, the story of Bertha Johnsons parking lot misadventure was all over the internet. Anonymous Email Warning of Parking Lot Perfume Scam Bertha Johnsons firsthand report of her alleged run-in with a cologne scammer inspired an anonymously-written email cautioning all women to beware of parking lot vendors offering samples of cut-rate cologne. While it nailed some of the reported facts correctly, it omitted others completely- the name of the victim, for example, as well as the name of the city in which the incident supposedly happened. These omissions may have dampened the emails credibility somewhat. In general, narratives are more believable the more specific they are. But minus some of the particulars the story took on an air of universality  as if to say: This could happen to anyone, anywhere, even  you, in your hometown. Subject: Fwd: Cologne sniffingDate: Mon, 15 Nov 1999 08:54:37 -0600Watch out - this is for real!!!!!!!I just heard on the radio about a lady that was asked to sniff a bottle of perfume that another woman was selling for $8.00. (In a mall parking lot) She told the story that it was her last bottle of perfume that regularly sells for $49.00 but she was getting rid of it for only $8.00, sound legitimate?Thats what the victim thought, but when she awoke she found out that her car had been moved to another parking area and she was missing all her money that was in her wallet (total of $800.00). Pretty steep for a sniff of perfume!Anyway, the perfume wasnt perfume at all, it was some kind of ether or strong substance to cause anyone who breathes the fumes to black out.SO beware..... Christmas time is coming and we will be going to malls shopping and we will have cash on us.Ladies, please dont be so trusting of others and beware of your surroundings- ALWAYS! Obey your instincts!*Please pass this on to your friends, sisters, mothers and all the women in your life you care about....... we can never be too careful!!!!* I Did Two Stupid Things More variants appeared almost instantly, usually localizing the story in places where no such crimes had been reported. One version sent later that same month bore the false preamble, This happened in St. Louis. In early December a lengthier version emerged. A woman was approached in a Walmart parking lot by two young men hawking designer perfume, it said, for only $8 a bottle (as in the original version). In this variant the potential victim is said to have declined to sniff the product, and escaped unharmed. Of course, the email strongly urged that it be passed on to friends, loved ones, and co-workers. Subject: Parking lot weirdosThis was forwarded to me - you may be interested:This is quite strange to hear this story because last month I was approached in the Wal-Mart (on Beckly) parking lot by two young men who were selling designer perfume. They stated that it was the excess of a cosmetic show and it was $8.00. I noticed one young mans distinct accent. I asked him if he was from Kentucky. He replied yes. He asked me if I was sure I didnt want to smell the perfume and I once again said no then got into my car. I did two stupid things. First I spoke/conversed with a stranger at 9:00 at night in a parking lot. Second I allowed a stranger into my space without realizing he was moving closer to me. I was on my guard. The Rumor Spreads to Walmart and Target The Walmart version was still going strong when yet another variant appeared describing yet another new incident, this one having allegedly occurred in the parking lot of a Target store in Plano, Texas. In this rendering, disaster is once again averted when the would-be victim rebuffs the salesmans advances before he even tells her what hes selling. The warning is all the more frightening, however, because it gives the impression that similar crimes are being perpetrated all over the United States. In January 2000 someone completely rewrote the text emphasizing the close call scenario and crediting earlier versions of the email with preventing more such crimes from taking place: Come April 2000, another report of an incident in a Walmart parking lot is appended to the foregoing version. Note that the two males described in this variant are neither hawking perfume nor asking anyone to sniff a sample. They merely inquire as to the kind of perfume the narrator is wearing: I just wanted to pass along that I was approached yesterday afternoon at around 3:30 p.m. in the Walmart parking lot at Forest Drive by 2 males asking what kind of perfume I was wearing. I didnt stop to answer them and kept walking toward the store. At the same time I remembered this email. The men continued to stand between parked cars I guess to wait on someone else to hit on. I stopped a lady going toward them, pointed at them, and told her what they might ask and NOT to let them get near her. When that happened, the men and a lady (I dont know where she came from!) started walking the other way toward their car parked in far corner of the parking lot. I thank Jane Shirey for passing this along it might have saved me from a robbery. Im passing this along to youall so you can warn the women in your life to watch out for this... Cathy Dont Stop for a Stranger... This  wordy  variation, which also appeared in late April 2000, describes yet another close call, though this time the story is completely secondhand. Its set in Kansas City: Two weekends ago, Mom, Melody and I were shopping at The Home Place at about 95th Metcalf and while I was driving around the parking lot looking for the closest parking spot, we saw a man individually approach two single women and speak to them. They both just kept walking and wouldnt have anything to do with him.When we got into the store we saw one of the women that he spoke with and so curiosity getting the best of us we went up to her and explained that wed seen the man approach her in the parking lot and we were wondering what he wanted. She then told us she was so scared that she had to sit down so we found the section with lawn furniture and we all sat down.She explained that just a few days prior she had received and e-mail about a man approaching you in a store parking lot asking if youd like to smell a perfume, explaining that hes got all of the latest fragrances at drastically reduced prices and that hes sure youll like this one (as he hands you the bottle) you take it an d smell it and pass out because its ether, not perfume. She said that was this mans exact line and that when she saw him pull a bottle out from his jacket, she said dont open that bottle or Ill scream and call the police on my cell phone. Well, we walked her to her car when we were all done shopping so she didnt have to go back out there by herself and we talked about it for a few minutes. Three Versions in One The knockout perfume legend took the form of an omnibus version in 2000, including a new scenario that supposedly took place at a gas station in Des Moines, Iowa, followed by two of the previous versions. I received this email from a friend!I was pumping gas at the Texaco station at Merle Hay and Douglas approximately a week and a half ago and a young girl walked up to me and asked if Id like to sample some perfume scents. She said that they had all the latest fragrances. I looked over at her car which was a turquoise sub-compact and her boyfriend (?) was rooting through the trunk. I declined, saying that I had to get back to work. She said again that they had all the latest scents and it wouldnt take long. I again declined and went inside to pay for my gas. She said, Thanks anyway, and went back to her car. When I pulled out, the two were just sitting there in the car. She smiled and waved. I thought it was an odd thing at the time, but the note below really brings it home that it could have been part of this indeed frightening scenario. I dont know WHAT they had in mind, but I can verify that this happened to me here in Des Moines. Please be careful,ladies. The Storys the Thing In true folkloric fashion, not one of the anecdotes youve just read is supported by anything more than hearsay, and anonymous hearsay at that. It doesnt necessarily follow that every report is false, but skepticism is in order. The moral message people are conveying by amplifying and spreading this legend is a familiar one, amount really to little more plain old common sense: Be careful out there. Thats a good message and a wise policy, but we have to question whether repeating frightful stories with little or no  basis, in fact,  is the best way to inspire prudent behavior. Urban legends often take the form of cautionary tales, but it would be a mistake to assume that they always actually function as such. Urban legends thrive, mainly, because theyre emotionally gripping stories. To the extent that they serve any social purpose at all, its probably more catharsis than anything - providing a belly laugh when were blue or a bone-chilling scare to release pent-up tension. Plus, dont forget, theres an all-too-human pleasure to be had by provoking these reactions in others. In days gone by, people sat around for hours in the glow of a campfire scaring the pants off one another with horror stories for no other reason than that they enjoyed it. Human nature hasnt changed. We still enjoy scaring each other, only now we do it by the glow of a computer screen instead of a crackling fire. Sources and further reading: Perfume Email Smells a Little FishyRotorua Daily Post, 21 April 2007 Perfume Scam Reeks of MythNew Zealand Herald, 12 December 2000

Learning About Dolphins for Homeschoolers

Learning About Dolphins for Homeschoolers What Are Dolphins? Dolphins are beautiful, playful creatures that are delightful to watch. Although they live in the ocean, dolphins arent fish. Like whales, they are  mammals. They are warm-blooded, breathe air through their lungs, and give birth to live young, which drinks its mothers milk, just like mammals that live on land.   Dolphins breathe through a blowhole located on the top of their heads. They must come to the waters surface to breathe air out and take in fresh air. How often they do this depends on how active they are. Dolphins can stay underwater up to 15 minutes without coming to the surface for air! Most dolphins give birth to one (sometimes two) babies about every three years.  The dolphin baby, who is born after a 12-month gestation period, is called a calf. Female dolphins are cows and males are bulls. The calf drinks its mothers milk for up to 18 months. Sometimes another dolphin stays nearby to help with the birth. Although it is occasionally a male dolphin, it is most often a female and either gender is referred to as the auntie. The auntie is the only other dolphin the mother will allow around her baby for awhile.   Dolphins are often confused with porpoises. Although they are similar in appearance, they are not the same animal. Porpoises are smaller with  smaller heads and shorter snouts. They are also more shy than dolphins and typically  dont swim as close to the surface of the water. There are over 30 species of dolphin. The bottlenose dolphin is probably the most popular and easily-recognizable species. The killer whale, or orca, is also a member of the dolphin family. Dolphins are highly intelligent, social  creatures who swim in groups called pods. They communicate with each other through a series of clicks, whistles, and squeaks, along with body language. Each dolphin has its own unique sound  that it develops shortly after birth. The average lifespan of a dolphin varies based on the species. Bottlenose dolphins live about 40 years. Orcas live about 70. Learning About Dolphins Dolphins are probably one of the best known sea mammals. Their popularity may be due to their smiling appearance and friendliness toward humans. Whatever it is, there are hundreds of books about dolphins.   Try some of these to begin learning about these gentle giants: Dolphins First Day  by Kathleen Weidner Zoehfeld tells the  delightful story of a young bottlenose dolphin. Reviewed by the Smithsonian Institute for accuracy, this beautifully-illustrated book provides wonderful insight about the life of a dolphin calf. Dolphins by Seymour Simon in partnership with the Smithsonian Institute features gorgeous, full-color photographs along with text that describes the behavior and physical characteristics of dolphins. The Magic Tree House: Dolphins at Daybreak by Mary Pope Osborne is the perfect fiction book to accompany a study of dolphins for children in the 6- to 9-years-old age range. The ninth book in this wildly popular series features an underwater adventure sure to capture your students attention. Dolphins and Sharks (Magic Tree House Research Guide) by Mary Pope Osborne is the non-fiction companion to Dolphins at Daybreak. Its geared toward kids who read at a 2nd or 3rd grade level and is filled with interesting facts and photos about dolphins. Island of the Blue Dolphins by Scott ODell is a Newbery medal winner that makes a fun fiction accompaniment to a unit study about dolphins. The book tells a story of survival about Karana, a young Indian girl who finds herself alone on a deserted island. National Geographic Kids Everything Dolphins by Elizabeth Carney features  beautiful, full-color photos and is packed with facts about dolphins, including the different species and conservation efforts. More Resources for Learning About Dolphins Seek out other opportunities to learn about dolphins. Try some of the following suggestions: Download a set of free  dolphin printables  to begin learning the terminology associated with dolphins. The set includes coloring pages, vocabulary worksheets, and word puzzles.Visit an aquarium or a park like Sea World.Visit the ocean. If you go out on the ocean in a boat, you may be able to see dolphins swimming in the wild. Weve even been able to observe them from the beach before. Dolphins are beautiful, fascinating creatures. Have fun learning about them! Updated by Kris Bales

Social Security Program Issues Research Paper Example | Topics and Well Written Essays - 2500 words - 1

Social Security Program Issues - Research Paper Example Governments, particularly in the developed countries, are spending huge amount of resources on the social security programs offered to their citizens (Gruber and Wise). These social security programs provide health facilities, income support in case of unemployment, education facilities to the offspring and in some cases, special gifts and bonuses during national festivals etc. The facilities are generally offered to the unemployed, physically disabled due to accidents etc. and senior citizens who have retired from their jobs. History: Human beings have always faced economic uncertainties triggered by war, calamity, famine, physical disability and old age. Different traditions have been developed by human beings since ancient times to deal with the impact of such economic turmoil. The most common and obvious is the stocking of food and resources during the days of high yields so that they can be utilized later when required. The evidence of storage of grain can be found from the arch aeological discoveries about Mesopotamian, Egyptian and Indus Valley Civilizations. The Greeks used to stock olive oil which could later be used as a food in tough times and as a currency as well to buy other goods in exchange of the oil. Traditionally, bondage between families has existed that honors the elder members of the family. It puts responsibility on the younger, more energetic members to take care of the needs of those who are in their declining years. Similarly, the concept of charity has existed in human beings since times unknown and in fact is a part of human nature. The institutions of charity as we know them today (hospitals, old age homes etc.) have also existed since the later periods of Roman empires and the Islamic empires of Arabia and Egypt. The rich and affluent segments of society provide financial support for food, health and shelter for the poor especially the old or disabled. This form of social security plays a major role even today in most of the develop ed and under developed countries. Hence, the traditional means of social security are the concept of charity, the family structure, and the storage resources for future use (US Social Security Administration). The first ever appearance of formal institutions with the objective of providing social security to its members were the trade unions or guilds that appeared in the medieval times. The basic objective of these organizations was to improve the condition of labor through skill development and productivity enhancement (Stephen). However, by time these guilds developed into organizations that provided financial support to its elderly or unemployed members in case of any financial trouble. These societies took more formal form in the USA with proper titles such as Freemasons, Fraternal Order of Eagles etc (US Social Security Administration). As the democratic governments became more powerful in the civilized world, new programs for public welfare found their way in to the governmen t policies. The so-called ‘Poor Laws’ promulgated in England are the first record of legislation which resembles the social security program as we know it today (Sutherland). These laws stated that it was state’s duty to care for the wellbeing of its citizens. They also set forth a taxation mechanism to provide financial support for a welfare program and also defined the eligibility criteria for the beneficiaries of this program. Although

Managing Organizational Communication Essay Example | Topics and Well Written Essays - 4000 words

Managing Organizational Communication - Essay Example Improving listening skills and learning to use and interpret nonverbal cues and verbal communication will help effective communication. Effective feedback is essential to let employees know where they stand and direct them to help achieve organizational goals. Organizations are made up of groups which are again made up of individuals. For sharing of information and coordination of activities, communication is absolutely necessary between groups and individuals. Individuals exchange knowledge, ideas, feelings and emotions using written messages, spoken words and gestures. "Organizations survive by making sense of and giving sense to their environments" (Sutcliffe, 2001, p.197). Organizations collect, comprehend, communicate and control flows of environmental information to deal with foreseen and unforeseen issues. According to various researches, the success of an organization is based on the organization's collective knowledge about its "process capabilities and the abilities to learn and share this knowledge effectively" (Parnisto, 1995, p.154). Sharing information is imperative for work coordination and cooperation in an organization. ... Managers facilitate organizational communication Communication plays an essential role in achieving managerial and organizational goals and objectives effectively. Communication is essential to inform employees of their goals, to compare with co-workers' performance, and for assessing employees' overall performance. Managers, through appropriate channels of communication, give instructions to subordinates and receive information. Managers interpret this information and communicate the same to the employees. To do this, managers should have good communication and interpretation skills, as, ultimately, the employees' interpretation of information depends on the accuracy of the managers' comprehension of the information and the effectiveness of their communication ("Managing communication," 2004, p.264). Role of communication in decision-making Managers take decisions that often have a major impact on the organization and its members. Making relevant and sound decisions is greatly dependent on the availability of accurate and timely information ("Managing communication," 2004, p.264). The length of the communication chain is a significant factor that affect the accuracy and timeliness of the information received. The more the number of links in the communication chain, the more the probability is of the information being distorted. Similarly, the longer the communication chain, the less the chances are of getting the information on time. Economic recession and competitive pressures have driven several organizations to reduce the number of managerial levels in the organizational hierarchy, thus facilitating more effective

U.S. Equal Employment Essay Example for Free

U.S. Equal Employment Essay 1.0  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Overview Over the years, Human Resources has been affected by both social and demographic trends that significantly impact on Equal Employment Opportunity legislation and the entire Human Resource Management in general.   The research seeks to evaluate how effective and successful this impact has been, and what its future in Human Resource Management is. It seeks to describe the major conditions that led to the passage of each piece of EEO legislation that is, Title VII, ADA, and ADEA. In each section, we will look at legal, social, political, demographic and economic events. Secondly it will identify the problems these three pieces of legislation intended to remedy while comparing with the current status. Finally the research will look at the success of the legislations and consequently their future. 2.0  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Literature Review 2.1  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Title VII This deals with the refusal of employers to hire an individual as a result of his race, color, religion, sex and national background. Title VII of the Civil Rights Act prohibits such kind of employment discrimination. It covers all companies with 15 or more employees for more than 19 weeks. 2.1.1  Ã‚  Ã‚   Major Conditions that led to the passage of Title VII legislation. Legal conditions include the Civil Rights Act of 1991 amendment of several sections of Title VII. This amendment made it clear that it would be an unlawful employment practice for an employer to fail to hire or to discharge any individual on the basis of his background. This bill was a landmark legislation in the United States that outlawed segregation in schools and public places. On political grounds, Title VII requirements were first initiated to help African Americans but later amended to protect women in courts, and explicitly included white people as well. It also started the Equal Employment Opportunity Commission. Secondly, if someone has a complaint and another helps the complainant, the company should not retaliate against either. Thus it gave employees the right to complain. Title VII bill divided and engendered a long-term change in the demographics of two political parties. However, both sides of the political divide voted for the bill, which won because it increased individual liberty. One of the key provisions by Title VII is the prohibition of unintentional discrimination by use of requirements which have an adverse effect on protected groups. This is for example the use of educational requirements, tests or other restrictions which are not related to the job or even required by business necessity. Demographic conditions include the fact that pregnant women also had problems getting jobs and this rose to Title VII act which prohibits discrimination due to pregnancy. It requires that pregnancy be treated the same as any other non-work-related disability. Sexual, racial, religions and ethnic harassment was another major condition for the rising of Title VII. Thus one major provision of Title VII is the prohibition of sexual, racial, religious, and ethnic harassment by supervisors, coworkers or even by third parties. Discrimination of employees under such conditions makes companies strictly liable, which results in tangible loss of job benefits. Economically, in order to circumvent limitations on the federal use of the Equal Protection Clause handed down by the Civil Rights Cases, the law was passed under the Commerce Clause. 2.1.2  Ã‚  Ã‚   Problems the law intended to remedy. The discrimination of employment was a major problem that this law intended to remedy, thus it prohibits discrimination due to race, color, religion, gender, and national origin in hiring, employment, and termination.   These various laws intended to enable the equal treatment of all people from different backgrounds to avoid social menaces such as riots and crime. Title VII aimed to increase individual liberty. 2.2  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   ADA This means Americans with Disabilities Act. It is a wide-ranging civil rights law that prohibits discrimination based on disability. However, the determination of whether any particular condition is considered a disability is made on a case by case basis. The employing company must modify performance standards to accommodate the disability of an employee. For example, if an employee is unable to meet a target because of disability-related absences, then his job must be reduced. If an employee with up-to-date job requirements suddenly starts having performance problems related to the disability, the company must assess the need for new accommodations such as job transfers. There is also the requirement of provision of extra leave in order to accommodate the disability of an employee. This is for instance by taking measures such as the adoption of an automatic policy of terminations after some leave expires, and even making an individualized determination as to the hardship which would be caused by extending the leave. However, the employee does not have the right to dictate which type of accommodation is chosen by the company, as long as the accommodation allows the employee to do the work. Similarly, the company may not force an employee to take an accommodation whereas by the refusal of that accommodation, if the employee is unable to do the job, the company is entitled to terminate him. 2.2.1  Ã‚  Ã‚   Major Conditions that led to the passage of ADA legislation. Employers used to require disclosure of information from applicants including private information. This resulted into discrimination in case the applicant possessed information that favored him adversely. The ADA guidelines provide for job applicants not to be asked if they need accommodation to perform the job. They are only supposed to be asked this after the job offer or if they are to be asked, this may happen only in order for them to complete the application process. This prompts the company to ordinarily provide the requested accommodation to allow the applicant to complete the application process. Even though it seems completely futile to ask for some positions such as a deaf person applying for a job as a music judge, the applicant must still be allowed to go through the application process. It is unlawful to refuse to allow the applicant to make an application and go through the required applicant testing. As a result, companies seeking employees able to perform certain essential physical tasks may wish to consider including physical performance testing early in the application process. Legal conditions include circumstances whereby employees used to be discriminated upon and terminated as a result of not being able to do their duties, because of their conditions. In order to be considered covered by the ADA the employee does not need to mention the existence of any disability, or ask for any accommodation. All that is required is for the employee to give sufficient information to let the Company know that he may have a covered disability or may need an accommodation. Secondly, he does not need to propose any specific accommodation, but just identify the existence of an impairment and give a general description of the problems the impairment may be causing. Further, he does not need to provide a medical release to the company to allow a general review of all medical records, and may limit the release to records which apply to the particular condition at issue. A company has no duty to monitor an employee’s medications unless failure of taking the medicine by the employee causes the employee not to perform, in which case he should be disciplined. 2.2.2  Ã‚  Ã‚   Problems the law intended to remedy. Job applicants with disabilities found it difficult because of being required to give reports or mentioning the existence of inabilities. The results of such requirements led to failure to attain employment and this became a problem that needed to be remedied. Besides the reduction of employment opportunities to the disabled, this law also remedied the problem of the possibility of lost talent which could be possessed by Americans with disabilities. 2.3  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   ADEA This act is aimed at prohibiting age discrimination in employment. It is the Age Discrimination in Employment Act of 1967, which prohibits employment discrimination against persons 40 years of age or older in the United States. This law also sets standards for pensions and benefits provided by employers and requires that information about the needs of older workers be provided to the general public. According to the ADEA regulations, it is unlawful for an employer to refuse to hire any individual with respect to his compensation, terms, conditions, or privileges of employment, because of his or her age. Employers should also not limit, segregate, or classify their employees in any way which would deprive or tend to deprive any individual of employment opportunities or otherwise adversely affect his status as an employee, because of age. Reduction of the wage rate of any employee on the basis of age shall also be unlawful.   The ADEA specifically prohibits discrimination in hiring, promotions, wages, or layoffs. This includes statements or specifications in job notices or advertisements of age preference and limitations, and denial of benefits to older employees. An employer may reduce benefits based on age only if the cost of providing the reduced benefits to older workers is the same as the cost of providing full benefits to younger workers. Since 1978 ADEA has prohibited mandatory retirement in most sectors, with phased elimination of mandatory retirement for tenured workers, such as college professors, in 1993.   In the face of rising productivity and affluence, older workers find themselves disadvantaged in their efforts to retain employment, and especially to regain employment when displaced from jobs. The setting of arbitrary age limits regardless of potential for job performance has become a common practice, and certain otherwise desirable practices may work to the disadvantage of older persons. Long term unemployment, may result into deterioration of skill, morale, and the risk of an employer not accepting the job applicant on the basis of age and especially if the applicant is older than average. This is high among older workers and relatively low among the younger ones. 2.3.1  Ã‚  Ã‚   Major Conditions that led to the passage of ADEA legislation. There are some circumstances that would lead to the deprivation of employment opportunities to an individual, or limit such employment opportunities. Other circumstances would adversely affect his status as an employee or as an applicant for employment, because of age.   2.3.2  Ã‚   Problems the law intended to remedy. What ADEA seeks to remedy includes the reinstatement and back pay for employee or damages if reinstatement is not feasible, or if the employers violation is intentional. 3.0  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Current Status The three current EEO laws have been successful at achieving their intended purposes. As a result of the legislation of Title VII, any employer, labor organization, joint labor-management committee, or employment agency can bypass the unlawful employment practice for any person involved with any organization required to register as a Communist-action or Communist-front organization by final order of the Subversive Activities Control Board. Another positive outcome of the passage of Title VII is that an individual can bring a private lawsuit on discrimination. It is unlawful for an employer to discriminate against any of his employees or applicants for employment, because such individual or applicant opposees any practice made unlawful by the ADA legislation, or because such individual or applicant for membership makes a charge, testifies, assists, or participates in any manner in an investigation, proceeding, or litigation under the ADEA legislation. The ADEA law does not forbid favoring the young over the old, but it prohibits having a discriminatory preference for the young over the old. This leads to giving all job applicants equal employment opportunities regardless of their ages. However, it does not apply to state employees because of the Kimel v. Florida Board of Regents. These laws have been successful because then employees become free in working or applying for jobs, It has worked in the US and currently employers are observing the rules. The effects of these legislations have been far reaching and have had tremendous long-term impacts in the US. Some of the effects include the prohibition of discrimination in public facilities, in the government, and in employment, invalidating the Jim Crow laws in the southern US. It became illegal to compel segregation of the races in schools, housing, or hiring. Powers given to enforce the bill were initially weak, but were supplemented during later years. Currently, there are many upcoming events suchas a case study that acts as a precedent for futre rulings. Demographic factors arise due immkigrations caused by economic integration and globalisation. All these need to be accomodated and necessay ammendments made to existing laws. The existence of age discrimination in employment because of age affects commerce, and burdens the free flow of goods in commerce. It is therefore the purpose of this chapter to promote employment of older persons based on their ability rather than age; to prohibit arbitrary age discrimination in employment; to help employers and workers find ways of meeting problems arising from the impact of age on employment. 4.0  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Future Status None of these EEO laws need to be changed. Even though Title I of ADA was found unconstitutional by the United States in the Supreme Court in the case of Board of Trustees of the University of Alabama v. Garrett, and found to be violating the States Eleventh Amendment to the United States Constitution sovereign immunity rights, it allowed the states to be sued for money damages. This is an indication that the legislation is in force. Title VII and the ADA may be generally applicable when a charge challenges discrimination by a foreign or foreign owned employer within the United States. However, such a respondent may allege that it is protected by the terms of a treaty or international agreement that limits the full applicability of U.S. anti-discrimination laws. The 1978 Amendments to the Age Discrimination in Employment Act will ultimately affect the future labor force. The retirement age policies have been hurting older workers, but changes that are expected to occur will ensure better terms for them. Pension benefits have also been affecting the older work force but the future holds better terms for them. It also leads to the urge of a linked employment or retirement policy. Companies and other employers are likely to respond quickly in the future to avoid legal charges, so that they may not be seen as having refused to adhere to a law. Finally, there would be more business as a result of a variety of intellectuals in the work force, both young and old, people of different backgrounds and even those with disabilities.    5.0  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   References Brauer, Carl M., (1983) Women Activists, Southern Conservatives, and the Prohibition of   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Sexual Discrimination in Title VII of the 1964 Civil Rights Act, 49 Journal of   Ã‚  Ã‚  Ã‚   Southern History. DeLeire, Thomas. (Autumn, 2000). The Wage and Employment Effects of the Americans   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   with Disabilities Act. Journal of Human Resources, Vol. 35, No. 4, pp. 693-715 Fielder, J. F. (2004). Mental Disabilities and the Americans with Disabilities Act, Westport, CT: Quorum Books, 2004 Loevy, Robert D. A Brief History of the Civil Rights Act OF 1964, in David C. Kozak   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   and Kenneth N. Ciboski, ed., The American Presidency (Chicago, IL: Nelson   Ã‚   Hall, 1985), pp. 411-419.

Cookies Invading Our Privacy :: Internet Technology Computers

Cookies Invading Our Privacy Cookies now constitute a real threat to personal privacy, but they are perfectly legal. A cookie is a tiny file that a Web sites place on the user’s hard drive when the user accesses the web page. Each cookie has a specific identification number. The cookie can gather personal information such as email addresses, full names, mailing addresses, and phone numbers, and then it sends the information back to the web site (Samborn 26). Whereas TV, radio, and print record only demographics or neighborhoods, a cookie keeps record of what an individual is actually looking at and doing on the net. As a result, Web site operators or companies are able to build very detailed profiles from that behavior (Green 48). These profiles play a major role in online marketing. In the past, marketers knew their customers just as a number, but when DoubleClick, an Internet advertising company, bought out Abacus Direct, DoubleClick was able to combine its databases with the names and addresses form Abacus’ catalog customers. Now web surfers can no longer surf the net without their computers being tagged to their names. (Quinn 63) Even more disturbing, hackers can now intercept the data from the cookie. With a specially constructed URL, a hacker can read cookies from any domain because the special URL fools a computer into thinking that the hacker’s computer is the domain site. As things stand now, Federal laws are far from clear when it comes to what cookies can collect and how the information can be used. According to US Sen. Robert Torricelli, â€Å"Congress has considered several privacy bills in the past few years, but only one, the Children’s Online Privacy Protection Act, has been passed† (Samborn 27). This problem is only going to escalate if something isn’t done to limit what Internet sites and marketing agencies can collect from people surfing the Web. Cookies Invading Our Privacy :: Internet Technology Computers Cookies Invading Our Privacy Cookies now constitute a real threat to personal privacy, but they are perfectly legal. A cookie is a tiny file that a Web sites place on the user’s hard drive when the user accesses the web page. Each cookie has a specific identification number. The cookie can gather personal information such as email addresses, full names, mailing addresses, and phone numbers, and then it sends the information back to the web site (Samborn 26). Whereas TV, radio, and print record only demographics or neighborhoods, a cookie keeps record of what an individual is actually looking at and doing on the net. As a result, Web site operators or companies are able to build very detailed profiles from that behavior (Green 48). These profiles play a major role in online marketing. In the past, marketers knew their customers just as a number, but when DoubleClick, an Internet advertising company, bought out Abacus Direct, DoubleClick was able to combine its databases with the names and addresses form Abacus’ catalog customers. Now web surfers can no longer surf the net without their computers being tagged to their names. (Quinn 63) Even more disturbing, hackers can now intercept the data from the cookie. With a specially constructed URL, a hacker can read cookies from any domain because the special URL fools a computer into thinking that the hacker’s computer is the domain site. As things stand now, Federal laws are far from clear when it comes to what cookies can collect and how the information can be used. According to US Sen. Robert Torricelli, â€Å"Congress has considered several privacy bills in the past few years, but only one, the Children’s Online Privacy Protection Act, has been passed† (Samborn 27). This problem is only going to escalate if something isn’t done to limit what Internet sites and marketing agencies can collect from people surfing the Web.

Brittle Diabetes Mellitus (BDM)

General Purpose: To inform the audience about the condition, Brittle Diabetes Mellitus Specific Purpose: To provide information on (1) the condition’s factual descriptions and (2) impact to a person’s life Central Idea: The presentation centers on the general description of Diabetes Mellitus, then proceeds in elaborating the actual condition of BDM. Factual description, signs and symptoms, related medical interventions, incidence and the impact of the disease to an individual are the focal points of this presentation.Introduction Attention Strategy: The presentation shall utilize persuasive and factual illustrations of the case to obtain the necessary attention from the audience. The study utilizes an evidenced-based analysis to further the discussion and obtain the attention of the general audience. In addition, it employs real life basis from the medical case of Cathy who died due to severe complications of BDM. Revelation of Topic: The study reveals the danger and co mplexities of the rare type of diabetes, which is BDM.During BDM presentation, the principal revelations include (1) the specific case of BDM and its difference from the typical DM Type 1/Type 2, (2) the increased chances of diabetic complications in BDM than the common DM cases, and (3) medical history of individual who have suffered the case of BDM. Credibility: The credibility of the presentation lies with countless hours of research, references from credible authors and scholarly literatures, academic background on EMT-B, CNA and being a paramedic student, and an experience from an Aunt who died from BDM complications. DiscussionDiabetes Mellitus (DM) is a clinical syndrome characterized by the deficiency or insensitivity of the body to insulin, and exposure of organs to chronic hyperglycemia is the most common medical complication of the disease (DeCherney and Nathan, 2002 p. 326). There are three known types of DM, namely (1) Type-1 or Insulin-Dependent DM (IDDM), (2) Type-2 o r Non-insulin-Dependent DM (NDDM), and (3) Gestational DM (GDM). According to Marso and Stern (2003), these three types of DM are all characterized by the increased sugar levels in the blood (hyperglycemia); however, these are differentiated by their nature of occurrence and etiology.Type-1 occurs due to the genetically impaired insulin receptor that prevents the insulin from binding to these receptors that provide the necessary signal for glucose cellular absorption. Type 2 occurs as a product of acquired metabolic impairment, particularly obesity, that also impairs the binding between insulin and cellular receptors due to extensive distribution of fats. Lastly, GDM occurs during pregnancy as a product of bodily modification, specifically carbohydrate intolerance, on the pregnant mother’s body (Montella, Keely and Lee, 2008 p. 216).These three types of DM are the most commonly known cases; however, a rare type of DM, known as GDM, also occurs to few people. According to Gill (2004), the case of GDM is similar to the manifestations of Type-1 DM although, with increased severity and frequency of occurrence (p. 11). Woodyatt in 1934 uses the term â€Å"brittle† to describe the main characteristic of the disease, which is the oscillation or instantaneous variations of glucose levels. According to mortality rates, the highest prone group is between 25 to 64 years (45%), followed by 65 to 74 age group (22%) and the youngest group of 16 to 44 (16.7%). Patient experiencing this rare DM condition can experience multiple types of severe symptoms, specifically (1) ketoacidosis, (2) hypoglycemia, and (3) hyperglycemia. In the case of BDM, the occurrence of hyperglycemia and/or hypoglycemia can be very sudden and extreme in levels, which consequently makes diagnosis almost impossible due to the unpredictability of its manifestations. Ketoacidosis occurs during an extreme drop of insulin levels in the body that consequently increases blood sugar contents in t he body making it thick in consistency (Backer, 2005 p. 201).In addition, ketoacidosis occurs in a very unstable levels and unpredictable frequency. BDM can be very hard to control due to the severe swings on blood sugar levels. Medical practitioners commonly advice exercise, careful monitoring of diet and blood glucose levels at least every 30 minutes for the first 5 hours of BDM manifestations (Ballanoff, Yu and Stjernholm, 2004 p. 132). Signs and symptoms that need to be carefully monitored are fruity breath, dehydration, increased thirst, severe and instantaneous weight loss due to muscle wasting and increased frequency of urination (polyuria).Meanwhile, severe complications that can result include (1) kidney damage due to nephropathy, (2) hypertension and heart damages (e. g. Cardiomegaly, Cardiac arrest, etc. ), (3) eye damage (e. g. glaucoma, cataracts, retinopathy, etc. ), (4) diabetic neuropathy affecting nerve functioning that eventually leads to leg and feet necrosis, GI peristaltic-related indigestion and impotence (erectile dysfunction), and (5) series of life-threatening conditions, such as hyperlipidemia, atherosclerosis and diabetic coma (Ballanoff, Yu and Stjernholm, 2004 p.132-133). One of the historically recognized records of BDM case is Cathy who was born in September 21, 1961 and eventually diagnosed with type 2 DM at the age of 20. Despite of different medical opinions and treatments on controlling her sugar levels, her blood sugar had continued to oscillate. In 1999, she had her child named, Sam, but her body rejected the baby during pregnancy due to severe diabetic complications. Things started going bad in the year 2000 as she was diagnosed with stroke and developed severe neuropathy on her feet.As the years passed by, she had experienced BDM complications, such as heart attack in 2002, leg venous blockage in 2003 that eventually ended in surgery, and complete irreversible neck vein blockage in 2005. In 2007, Cathy had a stroke that d estroyed almost all parts of her brain except for the remaining quarter piece of her brainstem. She lived for three days after the incident, and on May 22, 2007, Cathy’s body finally gave from the complications of BDM. ConclusionIn conclusion, BDM is indeed a rare but tremendously life-threatening condition. Considering the standard DM treatments available, Diagnosis and treatment are both hard to administer due to the unpredictable and extreme drops or rise of blood sugar in the body. The most common manifestations of BDM include severe hyperglycemia, hypoglycemia and ketoacidosis. If these conditions pursue, minor complications, such as polyuria, dehydration, thirstiness, etc, can lead to more severe conditions, such as hypertension, heart problems, diabetic coma, etc.To avoid these complications, medical experts had to suggest frequent blood sugar monitoring, diet restrictions and exercise. One of the recorded cases of severe BDM is the progressive diabetic complications o f Cathy. She first developed Type 2 DM indications at the age of 20. The doctors diagnosed her condition as BDM due to unpredictable and extreme rise of blood glucose levels. She was able to live a life of a common DM patient until her failed pregnancy in 2000, which eventually developed in severe BDM complications.She died on May 22, 2007 due to the massive stroke that nearly damaged her entire brain. References Backer, H. D. (2005). Wilderness First Aid: Emergency Care for Remote Locations. New York, U. S. A: Jones & Bartlett Publishers. Ballonoff, L. , Yu, W. , & Stjernholm, M. (2004). What to Do When the Doctor Says It's Diabetes: The Most Important Things You Need to Know about Blood Sugar, Diet, and Exercise for Type I and Type II Diabetes. Tennessee, New Jersey: Fair Winds Press. DeCherney, A. H., & Nathan, L. (2002). Current Obstetric and Gynecologic Diagnosis and Treatment. New York, U. S. A: McGraw-Hill Professional. Gill, G. (2004). Unstable and Brittle Diabetes. Chicago, U. S. A: Informa Health Care. Marso, S. P. , & Stern, D. M. (2003). Diabetes and Cardiovascular Disease: Integrating Science and Clinical Medicine. New York, U. S. A: Lippincott Williams & Wilkins. Montella, K. , Keely, E. , & Lee, R. V. (2008). Medical Care of the Pregnant Patient. London, New York: ACP Press.

Effect of Global Financial Crisis on Banks in Pakistan

CHAPTER #01 BACKGROUND OF SUBJECT AND STATEMENT OF PROBLEM |1. 1 |Introduction | |1. 2 |Evolution and Present Status | |1. 2. 1 |Pakistan’s Banking Sector and Foreign Banks | |1. 3 |Statement of Problem | |1. 4 |Significance of Study | |1. |Scope of the Study | |1. 6 |Delimitations | | | | 1. 1Introduction: The financial crisis, which has been developing at Wall Street, has got people worried in developing countries around the world. The stock exchanges, in developing countries have crashed and things look bleak for the financial markets.The people are drawing parallels with the Great Depression of 1929, but this time the world economy seems far more reliant and countries are far more intertwined with each other. Hit by an unprecedented series of multiple events and shocks, the Global Financial System is in a state of deep distress. One after another, large global banks have faced extensive losses, some were subjected to runs, others wrapped up their business, while yet oth ers went for bail outs, mergers or other forms of restructuring. Stock markets tumbled, indices declined and their market capitalization was severely eroded.The financial crisis, triggered by an isolated problem of subprime mortgages and other alternative investment vehicles which constituted only a small proportion of global financial assets, first hit one sector of the economy i. e. housing, and has now transmitted its contagion effect across all segments of financial markets and institutions, with spillover effects into the real sector. The global economy is now witnessing a significant slowdown after a sustained period of growth. What was perceived initially as purely liquidity? runch in advanced financial markets has now turned into a solvency crisis. The depth and breadth of the financial crisis is yet not known. The crisis has generated instability by speculative trade, which has far-reaching implications around the globe. The crisis has the potential to disrupt the very foun dations of the international monetary system. The situation is not limited to the meltdown of financial markets, the real economy at the national and international level, its institutions; and its productive structures are also in difficulty.This financial meltdown inevitably, backlashes on consumer markets, the housing market, and more broadly on the process of investment in the production of goods and services. 1. 2Evolution and Present Status Pakistan is living in a highly integrated world and a major turmoil of this magnitude and would definitely create certain implications for Pakistan’s economy. Pakistan already reeling from high food and fuel prices could face adverse consequences of the global financial crisis. The country’s economy is already confronted with worst kind of macroeconomic imbalances and obviously need financing desperately.Pakistan’s economic growth has slowed down and the ripple effects of this financial crisis may or may not hit with sam e intensity or severity as it is doing to the developed world, but still there are various channels through which the crisis may hit Pakistan economy. The crisis affected area, United States and Europe, hold a fundamental value for Pakistan’s economy. The financial turmoil is more then likely to affect Europe, Japan and North American countries with full intensity. Pakistan’s external sector comprised of trade, foreign investment, remittances, and capital flows is interwoven with these countries.All these indicators of external sector have more than 50 per cent of the stake in this region. The growth model being followed in Pakistan over the years is highly dependent on foreign capital inflows, mainly from these countries. More than one-half of Pakistan's external trade is dependent on these countries. The country could be hurt if demands for its export products dropped significantly, foreign investment declines substantially and if the terms of trade are affected. Pak istan has a very inelastic import structure and if exports are hit by a crisis than the current account deficit is likely to go beyond the sustainable limits.There is an agreement among analysts that countries with heavy external financing needs are potentially more vulnerable to a credit crunch. Pakistan’s current account deficit had already touched $14 billion which is 8. 5 per cent of its GDP, in 2007-08. In the current fiscal year, the ambitious reduction in the CAD is planned but still need a financing of around $12 billion. If import compression measures fail than the financing needs would be more than that. Pakistan’s external inflows projections hinges upon inflows from GDR’s and sovereign bonds in the fiscal year 2008-09.In the current situation any inflows under these heads are most unlikely. Standard & Poor has downgraded its long-term credit rating for Pakistan to triple c plus and this is the third downgrading of this calendar year. This rating will heart some investment prospect as well. The current crisis is aggravated by rising cost of external borrowing on the one hand and scarcity of availability of external inflows coupled with volatility of oil prices in the international market on the other. Internal security situation is adding miseries to our external woes.Non-debt creating inflows like FDI and portfolio inflows had shown great resilience to external crisis last year but sustainability of this resilience is likely to be hurt. 1. 2. 1Pakistan’s Banking Sector & Foreign Banks The major area of the economy of any country is its financial sector, in recent times financial sector has received renewed focus in the world. And within the broad domain of the financial sector, it is the banking industry that has been the center of attraction for the government and policymakers, particularly in the landscape of the Universal Banking Model.Banking is one of the most sensitive businesses all over the world. Banks plays ver y important role in the economy of the country and Pakistan is no exception. Banks are not only the custodian of the assets of the general masses but also act as a major financial intermediary of the country. The banking sector influences many different but integrated economic activities like mobilization of resources, collection & distribution of public finance.Pakistan’s financial sector consists of Scheduled Commercial Banks which include nationalized, foreign, and private banks; and Non-banking Financial Institutions (NBFIs) which include Development Finance Institutions (DFIs), Investment Banks, leasing companies, modarabas, and housing finance companies. Scheduled Banks and NBFIs (excluding modaraba and leasing companies) are both regulated by the State Bank of Pakistan’s Prudential Regulations, albeit through different wings, and are subject to different SBP regulatory requirements such as capital and liquidity reserve requirements.The banking sector in Pakistan has been going through a comprehensive but complex and painful process of restructuring since 1997. It is aimed at making these institutions financially sound and forging their links firmly with the real sector for promotion of savings, investment and growth. Although a complete turnaround in banking sector performance is not expected till the completion of reforms, signs of improvement are visible. The almost simultaneous nature of various factors makes it difficult to disentangle signs of improvement and deterioration.The central bank has been following a supervisory framework, CAMEL, which involves the analysis of six indicators which reflect the financial health of financial institutions. These are: 1) Capital Adequacy, 2) Asset Quality, 3) Management Soundness, 4) Earnings and Profitability, 5) Liquidity and 6) Sensitivity to Market Risk. Pakistan’s banking sector is made up of 53 banks of which there are 30 commercial banks, four specialized banks, six Islamic banks, s even development financial institutions and six micro-finance banks.According to the State Bank of Pakistan’s (SBP) Financial Stability Review 2007-08, â€Å"Pakistan’s banking sector has remained remarkably strong and resilient, despite facing pressures emanating from weakening macroeconomic environment. According to Fitch Ratings, the international credit rating agency dual headquartered in New York and London, â€Å"the Pakistani banking system has, over the last decade, gradually evolved from a weak state-owned system to a slightly healthier and active private sector driven system. |BANKS IN PAKISTAN | |[pic] | |PUBLIC SECTOR BANKS | | | |First Women Bank Limited | |The Bank of Khyber | |National Bank of Pakistan | |The Bank of Punjab | |SINDH BANK | |ISLAMIC BANKS | | | |BankIslami Pakistan Limited | |Emirates Global Islamic Bank | |Dawood Islamic Bank Limited | |Meezan Bank Limited | |Dubai Islamic Bank Pakistan Limited | |PRIVATE BANKS | | |The Royal Ba nk of Scotland Limited | |JS Bank Limited | |Allied Bank Limited | |KASB Bank Limited | |Arif Habib Bank Limited | |MCB Bank Limited | |Askari Bank Limited | |Mybank Limited | |Atlas Bank Limited | |NIB Bank Limited | |Bank Alfalah Limited | |Saudi Pak Commercial Bank Limited | |Bank Al Habib Limited | |Soneri Bank Limited | |Crescent Commercial Bank Limited | |Standard Chartered Bank (Pakistan) Limited | |Faysal Bank Limited | |United Bank Limited | |Habib Bank Limited | |Habib Metropolitan Bank Limited | |FOREIGN BANKS | | | |Albaraka Islamic Bank B. S. C. (E. C. ), | |The Bank of Tokyo-Mitsubishi UFJ Limited – Pakistan Operations | |Citibank N. A. – Pakistan Operations | |HSBC Bank Middle East Limited – Pakistan | |Deutsche Bank AG – Pakistan Operations | |Barclays Bank PLC | |Oman International Bank S. A. O.G – Pakistan Operations | |DEVELOPMENT FINANCIAL INSTITUTIONS | | | |House Building Finance Corporation | |Pakistan Kuwai t Investment Company Limited | |Pak Brunei investment Company Limited | |Pak Oman Investment Company Limited | |Pak Iran Joint Investment Company | |Saudi Pak Industrial & Agricultural Investment Company Limited | |Pak Libya Holding Company Limited | |China Investment Company Limited | |SPECIALIZED BANKS | | | |Industrial Development Bank of Pakistan | |The Punjab Provincial Cooperative Bank Ltd | |SME Bank Limited | |Zarai Taraqiati Bank Limited | |MICRO FINANCE BANKS / INSTITUTIONS | | | |Khushhali Bank Limited | Rozgar Microfinance Bank Limited | |Network Microfinance Bank Limited | |Tameer Micro Finance Bank Limited | |Pak Oman Microfinance Bank Limited | |The First Micro Finance Bank Limited | As of end-2008, data from the banking sector confirms a slowdown (after a multi-year growth pattern). As of October 2008, total deposits fell from Rs3. 77 trillion in September to Rs3. 67 trillion. Provisions for losses over the same period went up from Rs173 billion in Sept ember to Rs178. 9 billion in October. In the meanwhile, the SBP has jacked up economy-wide rates of interest (the 3-month treasury bill auction has seen a jump from 9. 9 percent in January 2008 to 14 percent as of January 2009 and bank lending rates are as high as 20 percent). Overall, Pakistan’s banking sector hasn’t been as prone to external shocks as have been banks in Europe. To be certain, liquidity is tight but that has little to do with the Global Financial Crisis and more to do with heavy government borrowing from the banking sector and thus tight liquidity and the ‘crowding out’ of the private sector. Increased competition in the banking sector will force smaller banks to either sell out to other larger banks or merge. A small capital base will also restrict branch expansion of smaller banks, forcing them to focus on relatively smaller retail clients.Hence, it is foreseen that a major merger/acquisition potential in the banking sector. Competition would also spill over to other customer services such as provision of ATM machines and better banking facilities. Again, only the larger banks would be able to invest in automation technology and branch expansion necessary to improve efficiencies and mobilize cheaper funds. Foreign Banks (FB) comprises 24% of total advances and deposits within the banking system, but as a percentage of total profitability they are far ahead. A major constraint for foreign banks is the restrictions placed on branch expansion by the SBP. This should be according to liberalization policy to relax restrictions on foreign banks in emerging economies.Traditionally, the foreign banking focused on short term trade finance, targeting mainly low risk blue chip clients and high net worth individuals. More recently, foreign banks have also expanded into merchant banking, capital market operations, and consumer/retail banking. Foreign banks have been extremely successful in capturing a major market share of con sumer banking business, especially that of credit cards. Head office support in terms of international network and technology has enabled the foreign banks to become important players in the corporate and consumer banking arena. The deposits of foreign banks as ratio of total deposits increased to 27. 99 per cent in 1994-95 as compared to 21. 3 per cent in the preceding year. The advances of foreign banks as ratio of total advances have also shown an increase from 17. 64 per cent to 20. 38 per cent during the same period. Citibank earned a pretax profit of Rs. 1191. 82 million and thus it became the top profit earner among the foreign banks in Pakistan. The presence of foreign banks in Pakistan expands access to credit as well as financial services, which can spur efficiency and innovation in domestic banks, however, ripple effect of shocks from the credit squeeze in the US has impact on local financial markets through these banks. Pakistan has concentration of almost all foreign ba nks in the country.They account for one-tenth of deposits in the country in 2007-08. There are substantial changes taking place in the interrelation with the structure-forming elements in the global financial market which is seriously affecting the financial-credit mechanism in the developing countries, which have not yet developed the financial and economic structures. Countries like Pakistan sensitively react to the structural changes in the financial space. The banking and the entire financial system is much stronger now, after years of restructuring. Pakistan’s financial institutions had not invested in derivatives that had exposure to risky investment bankers.Moreover, better supervisory oversight and risk management practices introduced by the SBP have strengthened bank balance sheets while Bank asset quality, profitability, and capital adequacy have also improved remarkably in recent years. If the small size of the Pakistan’s financial market has traditionally b een a hindrance to a more efficient economy, it may actually prove to be an advantage in the current situation. There are deficiencies in the operations of the banking system, and it does not fulfill its function as finance intermediary. Hence the traditional channels of influence between financial market and real economy do not function in all respects. The banking system is on strong footing and has long term potential – a feature which has served to attract a substantial amount of FDI in the sector, with established global financial institutions now active participants in the domestic financial sector,† it has been well? governed and being in private hands under professional management, has witnessed outstanding financial performance during the last few years. With strong regulatory oversight, there has been a significant enhancement of capital and risk? weighted capital adequacy, supported by high provisioning requirements which were tightened in 2007. Stringent loa n provisioning requirement has built sufficient reserves against the NPLs’ portfolio.In contrast to the liberalized financial system in the west which took its toll in the form of the current global financial crisis, there are stringent regulations and adequate policies in place to help the banking system manage its risks. It is observed that aggregate financial soundness indicators have improved since early 2000, and continue to exhibit strong performance. â€Å"Tighter provisioning requirements may have reduced profits, but have positioned banks well,† and added ongoing consolidation and mergers have enabled a number of banks to position themselves better. The studies have shown that solvency profile has improved, and given the pressures from the macroeconomic environment, there is an indication of marginal deterioration in asset quality, which banks are well? equipped to handle. Stress tests conducted on June? 008 data indicate that the large banks are relatively ro bust, with the medium and small? sized banks positioning themselves in niche markets. Capital adequacy of the banking system is strong, 12. 1 percent at end? June 2008, well above the internationally acceptable minimum requirement of 8. 0 percent, it said and added core capital constitutes about 80. 0 percent of the total capital, and Tier 1 to risk weighted assets ratio of the banking system is at 9. 7 percent. â€Å"This strong capital base is accompanied by adequate reserves on the back of stringent provisioning requirements against classified assets – the net NPLs to net loans ratio is reasonably well? contained i. e. at 1. percent in June 2008, comparable to international best standards,† the Report pointed out. Profitability of the banking system continues to be impressive, largely emanating from the persistent growth in high? yield earning assets and expanded business volumes. Before? tax Return On Assets of the banking system remains strong at 2. 3 percent in J une 2008. The strengths built up over the years are now coming in handy in managing the recent financial strains. The Government’s and public sector organizations’ excessive borrowings from the banking system posed another challenge for the banking system. Notwithstanding, the liquidity strains were temporary and the inter? bank market is now functioning normally. Albeit going forward, the banking sector faces a significant challenge in maintaining its deposit base and in attracting new deposits, given the three rounds of increase in the rates of return on NSS instruments in the first few months of FY09. This will in a way force them to enhance the quality and returns on their liability products, and strengthen competition,† it pointed out. Liquidity position of banks also had an impact on the Non? Banking Finance Companies (NBFCs), whose main source of funding continues to be credit lines from banks. â€Å"A broader assessment of financial stability indicates t hat the financial sector is too bank? centric, and the outreach and growth of the Non?Bank Finance Companies and the Insurance sector have languished in recent years,† it said and added NBFCs face direct competition from banks and are not likely to grow significantly until their funding sources and costs are streamlined. An excessive dependence on the banking system to meet the financing needs of the economy, as well as other participants of the financial sector, is quite stark in comparison with other emerging economies, where in general, the growth in other components of the financial sector, such as capital markets, complements and supplements the financing capacity of the banking sector. While financial markets (money market and foreign exchange market) remained resilient to the developments in the macroeconomic environment and functioned well in maintaining financial stability.Despite several achievements of the financial sector in recent years, financial depth and penetr ation in Pakistan continues to be low, and SBP’s financial inclusion strategy are aimed at extending the net of financial services. A lack of confidence in banking system has also traditionally prevented a significant sector of households from keeping their savings in banks. Hence, the impact on households of a possible burst in bank insolvencies will be minimal. In addition, the majority of deposits are in the state-owned banks or banks with sizeable government presence. Indirect effects may thus become prominent in evaluating the consequences of the financial turmoil on the real economy.The tight liquidity situation particularly hampers the operations of small banks and banks with limited resources, so the possibility of insolvency and bankruptcy cannot be ignored for some banks. Pakistan is facing a gimmick of financing huge fiscal deficits in 2008-09 and if liquidity constraint remains intact with limitations on external financing, the demand for State Bank resources will grow at a faster pace. The unwillingness of the SBP to finance the deficit may have serious implications for fiscal operations. This will attract major cuts in growth enhancing development expenditure because current expenditure offers little room for adjustment. The development expenditure has crucial for job creation and interlink ages in the economy.The refinancing of fiscal deficit without SBP finances may prove to be difficult, and will further tighten liquidity conditions and could lead to insolvencies for banks as well as add further pressures on taxation options. 1. 3 – Statement of the Problem: This aim of this research is to analyse the working of foreign banks, their operations and situations after global financial crisis and the services they are providing. The benefits which they are providing to different financial and non financial organizations. The activities and practices of foreign banks operating particularly in Pakistan. Their importance in the economy a nd financial sector of Pakistan. The major reasons for their decline/incline nowadays, Problems faced by them in recent time and their tough competition from other financial institutions performing in the market.There are many risk factors that are blocking the performance of foreign banks, so in this research it is tried to get the deep understanding of impact of global financial crisis on the foreign banks and the following things: 1- The Factors involving the operations of foreign banks before and after global financial crisis. 2- The future opportunities of foreign banks operating in Pakistan. 3- What are the problems faced by foreign banks. 4- How are the risk factors hindering the performance of foreign banks. 5- What products should be focused by foreign banks for growth in future. 6- The strategies for the regulation and development of foreign banks in Pakistan 7- The Initiatives that should be taken to bolster foreign bank operations in Pakistan after global financial turmo il. So the statement of the problem can be: IMPACT OF GLOBAL FINANCIAL CRISIS ON THE FOREIGN BANKS OPERATING IN PAKISTAN†. 1. 4 – SIGNIFICANCE OF THE STUDY: This report is useful in deeply understanding the activities and services provided by the foreign banks operating in Pakistan . Their importance in the economy of Pakistan, this report will not only gives information about present status but also gives comprehensive information about the contribution and impact of foreign banks in the financial sector of Pakistan. This report is also useful for the students and teachers providing complete theoretical and practical information about foreign banks, their functions and operations with wider perspective.This research will be beneficial for the corporations, and researchers who are interested in knowing about the services of foreign banks that will be beneficial for them. This research will also be helpful for the foreign banks in getting information about their present status and future prospects, the opportunities and threats they are facing, and the risk faced by them in Pakistan and what new products and services they can indulge in to grow in the future. This research is also helpful for me to enhance my knowledge in understanding the operations and difficulties faced by the banks. 1. 5 – SCOPE OF STUDY: This study or analysis of the foreign banks will help in identifying the impact of global finacilal turmoil on foreign banks in the financial sector of Pakistan.It includes detailed study of top renowned foreign banks operating in Pakistan. The activities & services provided by them and performance and growth during the financial crisis. 1. 6 – Delimitations: The results are purely based on the information that is provided by the institutions, investors and from other secondary sources. The key factors that may hamper the present and future performance of investment banks are the economic conditions and government policies. This research is limited to the study of the impact of global financial turmoil on few of the foreign banks operating in Pakistan; these banks mainly include Standard Chartered Bank, Citi Bank, RBS Bank and HSBC Bank.

The Neuter Gender in Spanish

The Neuter Gender in Spanish Él and ella. Nosotros and nosotras. El and la. Un and una. El profesor and la profesora. In Spanish, everything is either masculine or feminine, right? Not quite. True, Spanish isnt like German, where in terms of gender nouns fall into three classifications (masculine, feminine, and neuter). Indeed, in Spanish, nouns are either masculine or feminine. But Spanish does have use for the neuter form, which can come in handy when referring to concepts or ideas. The thing to keep in mind about Spanishs neuter form is that it is never used to refer to known objects or people, and there are no neuter nouns or descriptive adjectives. Here, then, are the cases where youll see the neuter used: Lo as the Neuter Definite Article Chances are that youre familiar with el and la, which usually are translated as the in English. Those words are known as definite articles because they refer to definite things or people (el libro, for example, refers to a specific book). Spanish also has a neuter definite article, lo, but you cant use it before a noun like you do el or la because there are no neuter nouns. Instead, lo is used before singular adjectives (and sometimes possessive pronouns) when they function as nouns, usually referring to a concept or category, not to a single concrete object or a person. If youre translating into English, there is no one way in which lo is always translated; youll usually need to supply a noun, the choice of which depends on the context. In most cases, what is is a possible translation for lo. A sample sentence should help make this easier to understand: Lo importante es amar. Here importante is the adjective (generally in the masculine singular when used with lo) functioning as a noun. You could use a variety of English translations: The important thing is to love. What is important is to love. The important aspect is to love. Here are some other sample sentences with possible translations: Lo mejor es el baà ±o. (The best part is the bathroom. The best thing is the bathroom.)Lo nuevo es que estudia. (Whats new is that hes studying. The new thing is that he studies.)Me gusta lo francà ©s. (I like French things. I like what is French.)Le di lo inà ºtil a mi hermana. (I gave the useless stuff to my sister. I gave the useless items to my sister. I gave what was useless to my sister. Note that you couldnt use lo à ºtil for a specific object that has a name. If were referring to a useless spoon, for example, you could say la inà ºtil  because the word for spoon, cuchara, is feminine.  )Puedes pintar lo tuyo. (You can paint whats yours. You can paint your things.) It is also possible to use lo in this way with some adverbs, but this usage isnt as common as the cases above: Me enojà ³ lo tarde que salià ³. (It angered me how late he left. The lateness of his leaving angered me.) Lo as a Neuter Direct Object Lo is used to represent an idea or concept when it is the direct object of a verb. (This may not look like a neuter use, because lo can also be used as a masculine pronoun.) In such usages, lo is usually translated as it. No lo creo. (I dont believe it.)Lo sà ©. (I know it.)No lo comprendo. (I dont understand it.)No puedo creerlo. (I cant believe it.) In these cases, lo/it doesnt refer to an object, but to a statement that has been made earlier or that is understood. Neuter Demonstrative Pronouns Usually, demonstrative pronouns are used to point at an object: à ©ste (this one), à ©se (that one), and aquà ©l (that one over there). The neuter equivalents (esto, eso, and aquello) are all unaccented, end in -o, and have roughly the same meanings, but as is the case with the direct object lo, they usually refer to an idea or concept rather than an object or person. They can also refer to an unknown object. Here are some examples of its use: No olvides esto. (Dont forget this.)No creo eso. (I dont believe that.0 ¿Quà © es aquello? (What is that over there?) ¿Te gustà ³ eso? (Did you like that?)No me importa esto. (This isnt important to me.) Note that the final two sentences must refer to an event, situation, or process rather than an object with a name. For example, if youre walking in a dark jungle and get a creepy feeling about something that might happen, no me gusta esto would be appropriate. But if youre sampling a hamburger and dont care for it, no me gusta à ©sta would be appropriate (à ©sta is used because the word for hamburger, hamburguesa, is feminine). Ello Ello is the neuter equivalent of à ©l and ella. Its use these days is unusual, and only in literature are you likely to find it used as the subject of a sentence. It usually is translated as it or this. Note that in these examples, ello refers to an unnamed situation rather than a specified thing. Hemos aprendido a vivir con ello. (We have learned to live with it.)Por ello no pudo encontrar la trascendencia que hubiera deseado. (Because of it, he couldnt find the transcendence he had wanted.)

Construction in Dubai Assignment Example | Topics and Well Written Essays - 2500 words

Construction in Dubai - Assignment Example This paper illustrates that regardless of the dangers that await the working sector, the construction business is considered to be the backbone of Dubai's flourishing economy. Dubai has gathered much attention in recent years with their fascinating and innovative building ideas and architectural wonders, like the Dubai Skyline and the Burj al Arab, among others. Real estate and construction( 22.6%) are the largest contributors to Dubai's economy, and are considered amongst one of the key sources of employment, income and growth. Before jumping into attempting this building survey, we first need to understand and familiarize ourselves with the construction world, who are the people involved, what are their key roles, what are the challenges they face etc. Coordinating one aspect of a construction is a difficult task. But coordinating the entire process, from initial planning and foundation work, through the final coat of paint, takes someone with a lot of managerial skills. Being a co nstruction manager demands organization, attention to detail, an ability to see the â€Å"big picture,† and an understanding of all facets of the construction process, usually acquired through experience. A construction manager is the intermediary between his clients and his workers, between the architect and his subcontractors, and between the project and any regulatory personnel. A construction manager's foremost functions include planning, directing, coordinating, supervising etc. Their construction projects include, but are not limited to, buildings, residential areas, commercial, industrial structures, roads, bridges, schools and hospitals. A construction manager(CM) may take on an entire project or part of a project depending on contract. They are either salaried or self-employed people, who oversee construction projects. They supervise the construction process from its abstract stage till its completion, making sure that the job is completed within the allotted time fr ame and budget. General responsibilities of a construction manager include helping in the acquisition of land(they know what type of land is necessary and what size), to obtain permits, to hire workers and speciality contractors. A CM must review the project thoroughly before undertaking it, so he has an understanding of what will be needed along the way, and what needs to be done prior to beginning the project. Many constructions managers are given the duty to come up with a budget for the construction project. They will then come up with a detailed cost analysis to get an estimate of the cost to be incurred. This is of fundamental importance as any delays in the project may cause a considerable amount of money. A CM should be an excellent multi-tasker. He should be able to jiggle multiple things at the same time, work under stress and pressure, and have the ability to meet deadlines. It is also the construction manager's job to provide a worker friendly environment, and to come up with a health and safety plan. Safety should be of utmost importance during the architectural plan of the building. The managing contractor should be able to design out unnecessary hazards and come up with a plan to minimize, if not completely eliminate them. He needs to prepare the pre-tender stage plan, which is a collection of information about the significant health and safety risks of the construction project which he will then have to manage during the construction phase. A construction contract

Identify and research a problem caused by a U.S. corporation and then Essay

Identify and research a problem caused by a U.S. corporation and then to convince the audience that something must be done to stop them from doing this - Essay Example Even the crucial and vital concerns like statutory provisions, environmental laws, social norms, business ethics and general well being of the society are more then often compromised by the corporations to achieve their fiscal and marketing targets (Chris 16). Any well informed citizen with reasonable levels of exposure to the print and digital media will conclusively testify to the fact that more then often corporations have been found to be willing to damage the world to make more money. This deliberate willingness to hurt the human values by any individual or institution definitely deserves the concern and intervention of a civil society based on democratic values and ideals. The US based corporations, being a part of a thriving capitalist and democratic society, aught to be held responsible for the breach of statutory provisions and public trust committed by them. However, the primary problem hampering this ideal is the fact that the corporations have over the years, assimilated themselves into the society in a way that does not extend the people with specific rights and mechanisms to facilitate a close scrutiny of their day today operations. The very framework and design of the corporations extends them with the ability and power to side step or sideline the public intervention or interference. Public institutions run by the tax payers' money are constitutionally accountable to the masses and the people do have the power to comment on the validity of the decisions taken by them, though indirectly through the provision of voting and adult franchise. The private corporations tend to differ from the state institutions in the sense that they are not liable to seek the approval and validation of the masses as they are privately funded and managed. Besides the enormous funds and political power that they have at their disposal makes them practically immune to public opinion and concern. Infact such an arrangement stands to be a grave injustice to any free and democratic society. The society can not and should not be denied the right to have a say in the affairs of such big and powerful concerns like private sector corporations.This heavy handedness of the US based MNCs becomes even more unrestrained when it comes to doing business in the third world nations. Not only the statutory and monitoring arrangements in the third world countries are often vulnerable to outside influences and powers, but the rampant corruption in such nations makes it relatively easier for the private corporations to bypass and ignore the public well being, environmental laws and business ethics (Basu 34). Even if their misdeeds and blunders get exposed owing to the media activism, the massive clout and influence that the US corporations enjoy in the federal and state legislatures facilitates them with ample government backing and support, which is sometimes sufficient to snub or scare away the state and private objections and resistance. At the end of the day, the corporations have to prove it to their stockholders that they are making huge profits. This quest for profit motivates and lures the corporations to exploit and manipulate the loopholes existing in the arcane laws and administrative structures in the