Thursday, March 26, 2020

Inequality of Development of Saudi Arabia

Introduction Development involves integration of modern advances in technology, democracy, social organizations, values, as well as, ethics into a single humanitarian project of making the world a better place to live. In the strongest sense, development involves using the resources of a country to improve the living standards of the poorest citizens.Advertising We will write a custom essay sample on Inequality of Development of Saudi Arabia specifically for you for only $16.05 $11/page Learn More In the weakest sense, development can be described as the use of a country’s productive resources for the benefit of a few individuals. Economic development refers to â€Å"a multi-dimensional process that not only involves economic growth but also a re-organization of the entire economic system alongside the social, political and economic spheres†. Consequently, development involves both economic growth and change. In this context, change means a ttainment of specific ideals of modernization which include increase in productivity, modern knowledge, social/ economic equality, as well as, improved institutions. In strict economic sense, development has traditionally been associated with an increase in the production capacity of a country as measured by its GDP. However, GDP is not a good measure of development since it does not take into account issues such as, health, urbanization, equality, external dependence and institutional development. A more effective measure of development is the human development index (HDI). Using the HDI involves assessing a country’s level of poverty, unemployment, delivery of basic services, as well as, inequality. This paper focuses on development by assessing the level of inequality in Saudi Arabia. The distribution of national income and delivery of basic services will be discussed. Overview of Saudi Arabia Saudi Arabia is the second largest Arab country in the world and the largest in western Asia. Saudi Arabia is bordered by Jordan, as well as, Iraq in the north. It is also bordered by Kuwait, Qatar, as well as, United Arab Emirates in the east. The Red sea borders the country in the west while Oman and Yemen lay to the east of Saudi Arabia. Saudi Arabia covers a land area of approximately 2.2 million km2. The country has a population of approximately 27 million people.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Since its inception in 1932, Saudi Arabia operates under an absolute monarchy system of government. The king performs legislative, executive, as well as, judicial functions. The king also serves as the country’s prime minister. Consequently, he leads the council of ministers with the aid of two deputy prime ministers. Key positions in the government are held by the members of the royal family. Islam is the official religion in Saudi Arabia. The socia l, political and even economic policies are based on Islamic principles such as Islamic banking system. Saudi Arabia has a relatively stable political environment as compared to other Arab countries. It also enjoys strong political ties with foreign countries. However, Saudi Arabia has recently been associated with terrorist activities. This has negatively impacted its relationship with western countries, especially, the United States of America. Saudi Arabia possesses the second largest oil reserve in the world. Thus, it is also the second largest exporter of oil in the world. Currently, the oil industry accounts for nearly 90% of the country’s exports. The government of Saudi Arabia derives 75% of its revenue from oil exports. Inequality and Economic Growth in Saudi Arabia In development, inequality refers to the disparities or differences in the distribution of income and economic resources of a country. It also includes disparities in the provision of basic services. Thus , inequality can be witnessed among citizens (vertical inequality) and between different regions in the country (horizontal inequality). In 2010, Saudi Arabia’s economic growth (GDP) was estimated to be 6.4%. Through years of investments and increased oil exports, Saudi Arabia has always experienced steady economic growth. The rapid economic growth stimulated development in various sectors of the country. However, the development resulting from the rapid economic growth varies from region to region and from sector to sector. To begin with, the government has always focused on developing the public sector at the expense of the private sector. Oil as the main source of revenue in Saudi Arabia is considered a national resource. The oil industry contributes up to 45% of the country’s gross domestic product. The private sector, on the other hand, contributes only 40% of the gross domestic product. Given the significance of oil in the country’s economic growth, the go vernment channels most of its funds towards the development of the oil industry. However, the public sector where the oil industry is classified is mainly dominated by the royal family.Advertising We will write a custom essay sample on Inequality of Development of Saudi Arabia specifically for you for only $16.05 $11/page Learn More The royal family has great control over the companies that drill and market the country’s oil. Thus, a large percentage of the oil and gas resources are controlled by the royal family and a few influential business men who account for less than five percent of the country’s population. Additionally, massive investments in the public sector in terms of jobs and salary increments have only benefited a few. This is because majority of Saudi Arabians are employed in the private sector. In light of these disparities, the government through its fourth development plan began to encourage private enterprise in 1950s. T he government supported private investments by offering financial assistance and economic incentives to promote the growth of private firms. Consequently, the contribution of the private sector to non-oil GDP rose to 70%. However, the growth in the private sector has since been realized only in the agriculture, banking, as well as, construction industries. The oil industry is still dominated by the royal family. The first two development plans that were implemented in Saudi Arabia focused on building infrastructure. Consequently, the road network and electricity generation expanded three fold. However, infrastructure development was mainly undertaken in the cities/ urban areas and the oil mining centers. The rural areas where the poorest and minority groups live still lack adequate infrastructure in terms of roads, railways and electricity. Regional development in Saudi Arabia is relatively fair compared to other Arab countries. The government promotes development in all regions in order to ensure equality. For instance, the government has announced plans to build six new industrialized cities by 2020. The cities will be spread across the country and will increase per capita income in each region to $33, 500 by 2020. Income Distribution Income distribution describes the manner in which a country’s GDP is shared among its population. In 2010, Saudi Arabia’s per capita income was $24,200, which was among the highest in the world. However, per capita income is not a good measure of income distribution since the actual funds might not necessarily reach the poorest citizens. The high poverty rate in Saudi Arabia is an indication of the inequality in income distribution.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More The number of Saudi Arabians who can not afford food and decent housing continues to rise annually. However, the government denies claims of high poverty rates and hardly issues data on the country’s poverty levels. In 2010, over 11% of Saudi Arabians were not employed. The unemployment rate is likely to be higher since women are never included in Saudi Arabia’s statistics. The royal family that comprises approximately 6,000 individuals controls over $400 billion of the country’s currency. In general, 90% of the country’s income benefits only one third of the population. The royal family is the upper class, and approximately 20 million out of 27 million citizens belong to the lower and lower-middle class. Following the decline in economic growth in 1950s, and rising discontent among the citizens, the government decided to improve distribution of the country’s wealth. Thus, in the fourth development plan, the government embarked on privatization of state owned corporations. Additionally, the private sector was allowed to participate in the telecommunication and energy industries. The aim was to increase the private sector’s ownership of state enterprises to 70%. Through privatization, many Saudi Arabians have had a chance to own state corporations and share the income generated by such corporations. However, not all citizens are able to participate in the privatization due to the high poverty levels. Additionally, corruption in the government limits the citizens’ chances of owning state corporations through privatization. In most countries, the tax system is used to influence the distribution of national income. Governments often use progressive taxes to redistribute income from the rich to the poor. Tax rebates and subsidies are often given to the poor in order to improve their disposable incomes. As a planned economy, Saudi Arabia focuses on equal income distribution through fair taxes. The government does not levy taxes on incomes earned through employment. Additionally, individuals who are not involved in any business activity are exempted from interest and dividend taxes. However, only residents of Saudi enjoy the income tax relief. Saudi nationals who operate businesses involving commercial goods within the Kingdom of Saudi Arabia are subject to an Islamic tax. The tax is referred to as Zakat and is charged at a flat rate of 2.5% on both property and income. Corporations and individuals who engage in business activities pay an income interest of 20%. In this context, business activities include financial services, professional activity and trading activities. Employed Saudi Arabians are expected to contribute 9% of their income to the national social security fund. The fund caters for old age, disability, and death. However, civil servants, farmers and domestic savants are exempted from these contributions. The tax system is fair since it leaves citizens with high disposable income. H owever, it promotes inequality since it can not redistribute income from the high income earners to the low income earners. Additionally, only the employed citizens are able to benefit from the tax reliefs. Provision of Basic Needs A country is considered to be developing if its citizens are able to access basic services such as education, health care and security. In most countries, the basic services are defined as public goods. Consequently, they are provided by the government in order to reduce inequality in accessing them. The commitment of the government of Saudi Arabia to provide basic services and social safety nets to its citizens can be illustrated by the country’s development plans. Saudi’s third development plan which was implemented from 1980 to 1985 promoted development of infrastructure in education, health, as well as, social services. The fifth development plan was implemented between 1990 and 1995. The plan led to the improvement of the countryâ€℠¢s internal security. It also led to efficiency improvements in the provision of social services, as well as, regional development. Between 1996 and 2000, the government implemented the sixth development plan. The sixth plan focused on reducing the cost of providing basic services without reducing the number of services provided by the government. From 2005 to 2010, the government implemented the eighth plan which focused on education and empowerment of women. The plan led to construction of new universities and collages. The current plan focuses on expansion of education, health and housing sectors. The objectives of the current development plan will be achieved by 2014. In the context of equality, the effectiveness of these development plans can be explained as follows. Education The government of Saudi Arabia has taken cognizance of the importance of education in development. Consequently, free education is provided by the government in order to enhance access. Enrollment in Saud i’s primary schools is at 98.1%. In order to proceed from primary to intermediate level, students must qualify by passing an exam. This leads to a reduction in enrollment at the intermediate level to 95.9%. At the secondary level, the enrolment further drops to 91.8%. In general, these percentages indicate that there is equality in accessing basic education. Additionally, the literacy rate is above 90%. Even though access to basic education is high, the quality is still low. In particular, the curricular is dominated by religious teachings and rote learning. Consequently, most high school and collage students lack technical skills that are needed at the workplace. Access to high quality education remains the preserve of the rich who are able to send their children to overseas universities. Health Care Health care services are financed by the government. However, the medical services are delivered by both the government and the private sector. The ministry of health oversees t he provision of preventive, curative, as well as, rehabilitative health care services. The services are provided through a network of over 1900 public medical centers. There are also 220 public referral hospitals that offer specialized treatment. The ministry of education provides health care to students while the ministry of labor and social affairs provides rehabilitation health care. Overall, good access, as well as, effective care has been reported for services such as immunization, maternal care, as well as, disease control. The high access rate is an indication of equality. However, the poor access to treatment for chronic diseases is an indication of inequality. Water Water is a very important commodity due to its scarcity in Saudi Arabia. In order to increase access to clean water, the government has invested heavily in water distribution, treatment of waste water and desalination. Additionally, the government finances the provision of water for domestic use. However, majori ty of Saudi Arabians can not access clean water on a regular basis. For instance, statistics for 2011 indicates that residents of Riyadh, Saudi’s capital, were able to access water only once in every three days. In Jeddah, the citizens were able to access clean water only once in every nine days. It is only the rich, especially, the royal family who can access clean water on a daily basis. Human Rights The socio-cultural norms and the Islamic laws that govern Saudi Arabia restrict the freedom of women. Such restrictions are reflected in women’s participation in economic activities and the political process. The law in Saudi Arabia grants women the right to own land, property, as well as, to enter financial contracts. However, women’s rights to ownership can hardly be exercised due to social norms and other laws. For instance, women who intend to operate a business must employ male managers before receiving licenses for their businesses. Additionally, women are l egally under the guardianship of their male counterparts. This limits women’s ability to independently own property or a business. Apart from access to economic resources, the inequality between men and women also exists in education. For instance, the literacy rate for men is 95% while that for women is 89%. Saudi Arabia’s Relationship with the World Globalization is an integral aspect of every country’s development. As economies embark on economic growth, they must also search for new markets for their surplus produce. This has necessitated international trade and globalization. For a country to effectively participate in international trade, it must have good foreign relations with its trading partners. In light of this requirement, the government of Saudi Arabia has focused on fostering strong political and economic ties with the rest of the world. This can be illustrated by the country’s membership in world organizations. In 1945, Saudi Arabia became a member of the United Nations (UN). Saudi Arabia is also a â€Å"member of the Arab League, Gulf Cooperation Council, Muslim World League and the Organization of the Islamic Conference†. As a leading oil producer, Saudi Arabia belongs to the OPEC group of countries. Saudi Arabia plays a key role in the formulation of OPEC’s pricing policy. Generally, the country focuses on stabilization of international oil prices through OPEC in order to protect the interest of Western economies. Saudi Arabia is also a member of the World Trade Order (WTO). From 1970s to 2002, the government of Saudi Arabia spent over $70 billion in foreign aid. The funds were used to support development projects in various countries in Africa, Asia and the Middle East. However, Saudi Arabia’s generous foreign aid has been associated with promotion of Wahhabism. Wahhabism is an Islamic sect that is linked to terrorist attacks and intolerance to non-Muslims. Most Arab countries consider Saudi Arabia to be a close ally of western countries, especially, America. For instance, in 1991, Saudi Arabia assisted the US in the Gulf War by hosting the latter’s troops. Saudi Arabia’s association with America has always been opposed by other Arab countries and some Saudi nationals. Consequently, Saudi Arabia has since limited its association with America. The relationship between Saudi Arabia and America suffered a major setback when the latter associated the former with the Al-Qaeda and Taliban terrorist groups. In the Arab world, Saudi plays an important role in promoting peace. For instance, the country supports America’s inversion of Iran in order to destroy Iranian nuclear program. Saudi Arabia has also helped to mediate peace between Palestine and Israel. Currently, the main trading partners of Saudi Arabia include USA, Japan, China, as well as, South Korea. Overall, Saudi Arabia has a good relationship with the rest of the world. This has promoted equalit y in Saudi Arabia by enabling its citizens to benefit from globalization. For instance, Saudi nationals are able to access higher education in foreign countries. Additionally, the country’s citizens can access foreign goods and markets. Causes of Inequality in Saudi Arabia Political system The monarchy system of governance is partly blamed for the escalation of inequality in Saudi Arabia. To begin with, non- royal family members have been locked-out of the leadership of the country. The democratic space is limited and views that contradict the perspectives of the ruling class are never tolerated. Additionally, formulation of economic policy is dominated by the ruling class. Lack of public participation in policy formulation has resulted into implementation of policies that promote inequality instead of reducing it. Lack of democracy also promotes corruption within the royal family and government cycles. The ruling class takes advantage of their positions to enrich themselves with the country’s oil and gas resources at the expense of the citizens. Expenditure by the royal family, for instance, accounts for a large portion of the country’s budget. Corrupt government officials also illegally acquire resources that are meant to benefit the most vulnerable groups. Wealth Concentration Less than a quarter of Saudi Arabia’s population controls more than three quarters of the country’s wealth. In particular, the royal family and a few business men control most of the country’s wealth. Concentration of wealth in the hands of a few is partly promoted by the tax system. The government charges a fixed income tax for all income groups and businesses. Since the tax is not progressive, income can not be redistricted from the rich to the poor. The tax system has significantly contributed to the development of an extremely rich class and an extremely poor class in the same economy. The middle class is consistently reducing in size. Dev elopment Patterns Empirical studies reveal that countries experiencing slow development have relatively low levels of inequality. However, as a country begins to experience rapid growth, more wealth is generated and owned by the owners of capital, thereby causing inequality. As a rapidly growing economy, Saudi Arabia has been able to generate a lot of wealth in the last decade. The government’s commitment to expand the private sector has promoted capitalism and ownership of private property. Consequently, the balk of the country’s income is controlled by the owners of capital. Inequality is perpetuated by the lack of effective social welfare programs to reverse the inequality in wealth distribution. Responses to Inequality The government of Saudi Arabia can consider the following recommendations to reduce both vertical and horizontal inequality in the country. First, equity can be achieved by dispensing the revenues accruing from oil and gas directly to the citizens. I n this case, the uniform transfer of cash to citizens will act as a progressive tax. Thus, it will help in reducing the rich to poor disposable income ratio, thereby reducing vertical inequality. Second, in order to prevent widening of the gap between the rich citizens and their poor counterparts, the government should promote productivity, as well as, export growth in the manufacturing and agricultural sector. The government can also create jobs in the public sector for the citizens rendered jobless in the private sector. Pro-poor policies can also be adopted by the government to improve the socio-economic status of the poor groups. Third, horizontal inequality can be reduced through equitable sharing of revenue between the central government and the local governments. In a nutshell, the oil revenue should be decentralized. Conclusion Saudi Arabia is one of the richest and fastest growing economies in the Arab world. The country derives over 75% of its revenues from its vast oil re serves. Despite having a lot of wealth, inequality and poverty still exist in Saudi Arabia. High levels of inequality exist in the distribution of the country’s income. Most of the financial and other economic resources are controlled by the royal family and a few business men who account for less than one quarter of the population. Even though basic services are provided with relatively high levels of equality, the quality of most services such as education and health is still poor. The relationship between Saudi Arabia and the rest of the world remains strong. The main causes of inequality in Saudi Arabia include the political system, wealth concentration and development patterns. The inequalities can be addressed through equitable distribution of national income and implementation of pro-poor policies. Works Cited Ahmed, Syed. â€Å"Professional Insights: Business Women in the Kingdom of Saudi Arabia.† International Journal of Equity, Diversity and Inclusion 30.7 (2 011): 610-614. Print. Albatel, Abdullah. â€Å"Government Activity and Policy and Economic Development in Saudi Arabia.† Journal of Economic and Administrative Science 19.2 (2003): 1-2. Print. Al-Sakran, Sulaiman. â€Å"Leverage Determinants in the Absence of Corporate Tax System: the Case of Non-Financial Publicly Traded Corporates in Saudi Arabia.† Managerial Finance 27.10 (2001): 58-86. Print. Basu, Kaushik. Analytical Development Economics. New York: Cengage Learning, 2003. Print. Boscheck, Ralf. â€Å"The Governance of Oil Supply: an Institutional Pespective on NOC Central and the Questions it Poses.† International Journal of Energy Sector Management 1.4 (2007): 366-389. Hayami, Yujiro and Yoshihisa Godo. Development Economics. New York: Cengage , 2005. Print. Hosad, Soraya. â€Å"The Rise of Consumerism in Saudi Arabian Society.† International Journal of Commerce and Management 17.1 (2008): 73-104. Print. Jasimaddin, Sajjad. â€Å"Analyzing the Com petitive Advanatges of Saudi Arabia with Porter’s Model.† Journal of Business and Industrial Marketing 16.1 (2001): 59-68. Print. Kayed, Rusem and Kabir Hassan. â€Å"Saudi Arabia’s Economic Development: Entrepreneurship as Strategy.† International Journal of Islamic and Middle Eastern Finance and Management 4.1 (2011): 52-73. Print. Niblock, Tim. Saudi Arabia: Power, Legimacy and Survival. New York: John Wiley and Sons, 2006. Print. Nixson, Felix. Development Economics. New York: McGraw-Hill, 2001. Print. Sigel, Eckhard. Development Economics. New York: Cengage, 2005. Print. This essay on Inequality of Development of Saudi Arabia was written and submitted by user Tristen C. to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Friday, March 6, 2020

John G. Roberts, Supreme Court Chief Justice

John G. Roberts, Supreme Court Chief Justice John Glover Roberts, Jr. (born January 27, 1955) is the 17th chief justice of the United States, serving on and presiding over the United States Supreme Court. Roberts began his tenure on the court on September 29, 2005, after having been nominated by President George W. Bush and confirmed by the U.S. Senate following the death of former Chief Justice William Rehnquist. Based on his voting record and written decisions, Roberts is believed to have a conservative judicial philosophy. Fast Facts: John G. Roberts Known For: 17th chief justice of the United States Supreme CourtBorn: January 27, 1955 in Buffalo, New YorkParents: John Glover Roberts and Rosemary PodraskEducation: Harvard University (B.A., J.D.)Wife: Jane Sullivan (m. 1996)Children: Josephine Roberts, Jack RobertsNotable Quotation: â€Å"You cant fight for your rights if you dont know what they are.† Early Life John Glover Roberts, Jr., was born on January 27, 1955, in Buffalo, New York, to John Glover Roberts and Rosemary Podrasky. In 1973, Roberts graduated at the top of his high school class from La Lumiere School, a Catholic boarding school in LaPorte, Indiana. While a student, Roberts wrestled, served as captain of the football team, and was a member of the student council. After graduating from high school, Roberts attended Harvard University, earning his tuition by working in a steel mill during the summer. After receiving his bachelor’s degree summa cum laude in 1976, Roberts entered Harvard Law School and graduated magna cum laude in 1979. Legal Experience From 1980 to 1981, Roberts served as a law clerk to then-Associate Justice William H. Rehnquist on the United States Supreme Court. From 1981 to 1982, he served in the Reagan administration as a special assistant to U.S. Attorney General William French Smith. From 1982 to 1986, Roberts served as associate counsel to President Ronald Reagan. After a brief stint in private practice, Roberts returned to government to serve in the George H. W. Bush administration as deputy solicitor general from 1989 to 1992. He returned to private practice in 1992. D.C. Circuit Roberts was nominated to serve on the U.S. Court of Appeals for the District of Columbia Circuit- also known as the D.C. Circuit- in 2001. Tensions between the Bush administration and the Democrat-controlled Senate, however, prevented Roberts from being confirmed until 2003. As a Circuit Court judge, Roberts ruled on a number of major cases, including Hamdan v. Rumsfeld, which concerned the legality of military tribunals. The court decided that such tribunals are legal because they are sanctioned by the United States Congress and because the Third Geneva Convention- which outlines protections for prisoners of war- does not apply to U.S. courts. Appointment to U.S. Supreme Court On July 19, 2005, President George W.  Bush nominated Roberts to fill the vacancy on the U.S. Supreme Court created by the retirement of Associate Justice Sandra Day OConnor.  Roberts was the first Supreme Court nominee since Stephen Breyer in 1994. Bush announced Roberts nomination in a live, nationwide television broadcast from the East Room of the White House. Following the September 3, 2005, death of William H. Rehnquist, Bush withdrew Roberts nomination as OConnors successor, and on September 6, sent the United States Senate notice of Roberts new nomination to the position of chief justice. Roberts was confirmed by the U.S. Senate by a vote of 78-22 on September 29, 2005, and was sworn in hours later by Associate Justice John Paul Stevens. During his confirmation hearings, Roberts told the Senate Judiciary Committee that his philosophy of jurisprudence was not â€Å"comprehensive† and that he did â€Å"not think beginning with an all-encompassing approach to constitutional interpretation is the best way to faithfully construe the document.† Roberts compared the job of a judge to that of a baseball umpire. â€Å"Its my job to call balls and strikes, and not to pitch or bat,† he said. Roberts is the youngest chief justice of the Supreme Court since John Marshall served more than 200 years ago. He received more Senate votes supporting his nomination (78) than any other nominee for chief justice in American history. Major Decisions During his tenure on the Supreme Court, Roberts has handed down rulings on a number of major issues, from campaign finance to healthcare to free speech. Roberts concurred with the majority in the case Citizens United v. Federal Election Commission, one of the courts most controversial rulings. The decision asserted that the First Amendment protects the rights of businesses, non-profit organizations, and other groups to make unlimited expenditures, including those intended to influence political campaigns and elections. Critics of the ruling believed it has allowed for an influx of corporate money into elections, weakening the democratic process. Proponents, on the other hand, believe that such money is a form of protected speech. In the 2007 case Morse v. Frederick, Roberts authored the majority opinion, which held that educators have a right to regulate student speech expressed at or near school-sponsored events. The litigation concerned a student who held a banner reading BONG HiTS 4 JESUS across the street from a school event. Roberts, invoking the school speech doctrine, wrote that the school principal had reason to restrict this speech because it was promoting illegal behavior. In a dissenting opinion, Justices Steven, Souter, and Ginsberg wrote that the Court does serious violence to the First Amendment in upholding...a schools decision to punish Frederick for expressing a view with which it disagreed. Personal Life Roberts is married to Jane Marie Sullivan, also an attorney. They have two adopted children, Josephine (Josie) and Jack Roberts. The Robertses are Roman Catholic and currently live in Bethesda, Maryland, a suburb of Washington, D.C. Legacy Roberts has played a significant role in Supreme Court history, often serving as a key swing vote on divided rulings. In 2012, he sided with the liberal side of the court in voting to uphold key provisions in the Affordable Care Act (aka Obamacare) as part of the decision National Federation of Independent Business v. Sebelius. He sided with the conservative minority, however, in the case Obergefell v. Hodges, which legalized same-sex marriage throughout the United States. Sources Biskupic, Joan. The Chief: the Life and Turbulent Times of Chief Justice John Roberts. Basic Books, 2019.Liptak, Adam. â€Å"Supreme Court Upholds Health Care Law, 5-4, in Victory for Obama.† The New York Times, 28 June 2012.Toobin, Jeffrey. â€Å"Money Unlimited: How Chief Justice John Roberts Orchestrated the Citizens United Decision.† The New Yorker, 14 May 2012.

Wednesday, February 19, 2020

Careers in Finance Assignment Example | Topics and Well Written Essays - 1000 words

Careers in Finance - Assignment Example Cooperate finance professionals must integrate perfect mastery of management structures to withstand global business challenges such as competition. Negotiation skills are equally necessary for corporate finance professionals. Some companies prefer centralized functions for corporate finance functions. Professionals should expect to work in an environment of shared services. Professionals should be team-oriented to work best in environments of decentralized services. Corporate finance professionals serve in a challenging work environment that demands high proficiency levels. Global nature of operations for most companies makes it disadvantageous to operate as a corporate finance professional. Investment banking job entails advising companies and governments issues regarding financial securities. It aids investment by performing the following functions to the investors; help the investors to purchase securities, manage their financial assets, trade securities, and provide financial advice to them. One must offer concrete explanations on matters concerning financial security to the companies, government, or potential investors (Careers in Business 1). A career in money management involves analyzing market trends in the sectors as the stock market. Success of money managers depends on the choice of technique employed. Some successful money managers employ use of simple intuition while other uses quantitative techniques. Besides the aforementioned techniques, success in money management requires unique skills, discipline, acceptance of defeat, and broad-mindedness. The main operational fields available for money managers involve corporate bonds, agency securities, mortgaged-backs, or market stocks. Choice of a starting point in investment management may be a difficult task and an individual needs to identify the best money managers. The best starting points are insurance companies, bank trust, and state and local pension

Tuesday, February 4, 2020

Services and Social Marketing assignment Essay Example | Topics and Well Written Essays - 2250 words

Services and Social Marketing assignment - Essay Example elies on voluntary compliance rather than legal, economic, or coercive forms of influence†, and hence â€Å"in many cases, social marketers cannot promise a direct benefit or immediate payback in return for a proposed behaviour change† (Kotler, Roberto & Lee, 2002, pp.5), thereby making the domain highly challenging. In the light of the intrinsic facets of social marketing, as mentioned above and as has been observed in the case of Hindustan Unilever Limited (HUL), the current report will aim at elaborating the key elements of a successful marketing campaign and while doing so, it will take into account the target markets, the required promotional activities, and the incorporation of a marketing plan. While it is a known fact that â€Å"diarrhoea is the third-highest cause of death in the world in the category of infectious diseases, behind only acute respiratory infections and AIDS† and is responsible for an annual toll that surpasses 2 million, â€Å"the paradox of diarrhoeal disease†, according to Prahalad (2006) â€Å"is that the solution is known and inexpensive, but it is difficult to reach and educate the poor about the need to wash their hands with soap† (Prahalad, 2006, pp.235). Quite obviously, HLL has a huge target market because â€Å"India alone accounts for 30 percent of diarrhoeal deaths in the world† and it is a noteworthy fact that â€Å"in India, 19.2 percent of all children suffer from diarrhoea† (Prahalad, 2006, pp.235). India, being a developing country, is paralysed by certain societal factors such as poverty, illiteracy, and above all, â€Å"lack of sanitation facilities† (Prahalad, 2006, pp.236). It has been report ed that â€Å"up-to-date technology, bright packaging, and savvy marketing of tiny sachets of soap that sold for as little as 2 cents allowed Lever to dominate the market† and as a result, â€Å"investors, sensing the companys deep understanding of the Indian consumer psyche, saw its shares as a proxy for India† (Bloomberg, 2004). As the

Monday, January 27, 2020

Analyzing 1920s Counterculture: Flappers

Analyzing 1920s Counterculture: Flappers Vittoria Rybak American culture has undergone great change throughout its history, specifically through challenges brought about by countercultures to the traditional values of the larger society. By definition, a counterculture is a group that rejects the major values, norms, and practices of the larger society, replacing them with a new set of cultural patterns (Thomas). During the 1920s, Americans saw the rise of one particular counterculture that would challenge the traditional values of women in a significantly modest society. Flappers, they were nicknamed, consisted of northern, urban, middle-class women who defied the traditional Victorian gender roles of the era wherein women were expected to act and behave in a modest, conservative way. The once feminine ideal of staying at home and out of the workforce would drastically change socially and politically as Flappers began a life of smoking, drinking, dancing, and voting. They defied traditionalist values by cutting their hair, wearing makeup , and taking risks (Rosenberg). In an attempt to liberate themselves and eliminate social double standards, the Flappers created a new role for women in society to play. With World War I underway, young men were being sent off to fight for the ideals and mistakes of the older generation, while young women took over their jobs and entered the workforce (Rosenberg). During the war, nearly an entire generation of young men had died, leaving nearly an entire generation of young women who became significantly independent and steered away from the conventional marriage norms of finding a sufficient suitor and starting a family (Rosenberg). The return home from the war proved that settling back into normalcy would be difficult for the young men AND women after each had already broken out of the structure of society (Rosenberg). These liberated young women had emerged from the aftermath of World War I and jumped right into the Jazz Age and an era of Prohibition. They adopted their carefree attitudes specifically in this era of alcohol, jazz music, dancing, and, of course, rebellion. The Jazz Age inspired a change in style and dress that ultimately became the scandalous Flapper look, diverging greatly from the traditional style and dress of early American women. A key contributor to the Flapper culture was Cara Bow, the single most famous Flapper of the era, starring in films and inspiring the younger generations to adopt the carefree manner and style of the new womens era. Perhaps the most significant historical event that encouraged Flappers to promote their cause of eliminating social double standards was the passing of the 19th Amendment, which ended womens suffrage and gave women the right to vote (Independence Hall Association in Philadelphia). In order to develop a better understanding of the mentality of the Flappers, it is important to view the behavior of the group in a systematic way, or through a sociological perspective (Thomas 4). Specifically through the interactionist perspective, Max Weber asserts that individuals act according to their interpretations of the meaning of their world through symbolic interaction (Thomas 17). And then, using sociological imaginations, those individuals have the ability to see the connection between the larger world and their personal lives (Thomas 5). During World War I, young women began interpreting the world slightly different from before. Flappers basically realized that life was too short to live a confined life and wait for a husband who might never come home; flappers felt rightfully entitled to make their own decisions regarding how to live their lives (Celania). Serving as a symbol of freedom, the invention of the automobile is an example of how Flappers were given the libe ration to go and do anything they pleased (Rosenberg). However, automobiles were not only used for travel and escape, and the flapper was less hesitant to experiment sexually than previous generations. Flappers began to realize that the larger world was holding them back, so they rebelled and brought attention to themselves which helped bring about major cultural change. America underwent major cultural changes because of the Flappers attitudes and completely redefined the role of women in society at large. In addition to their defiance of traditionalist values, Flappers also adopted a new sexual frankness that widened the eyes of the older generation. Many older generation traditionalists were the ones who developed ethnocentric views towards the shocking erotic and sexually alluring behavior of the Flappers (Kennedy and Cohen, Lizabeth). By definition, ethnocentrism is the tendency to view ones own culture and group as superior to all other cultures and groups (Thomas 35). The older generations considered themselves guardians of respectability and morality, thus they looked negatively on and were baffled by the dress and antics of the Flappers (Kennedy and Cohen, Lizabeth 710). In fact, traditional moralists were offended by their actions and attitudes. Their feelings of ethnocentrism came from the idea that a single kiss had once been the equivalent of a marriage proposal, and now Flappers were flaunting and exploiting their bodies like never before (Kennedy and Cohen, Lizabeth 709). Stuffy traditionalists continued to defend the modest and conventional way of life that they believed women were supposed to lead. For example, the Flappers began sporting the one piece bathing suit on beaches during the summers; however, they were disrupted in their leisure and measured from the knee up to ensure that not too much leg was showing (Kennedy and Cohen, Lizabeth 710). Out of pure rebellion against stuffy moralists, flappers adopted the short hair style, leaving the long, curly, traditional locks on the floors of barber shops everywhere (Celania). Just as women do today, women of the 1920s felt confined to act and behave a certain way. Their freedoms to express themselves had been diminished all of their lives by a traditional upbringing. Cultural relativism is the belief that cultures should be judged by their own standards, and not by the standards of others (Thomas 36). Through cultural relativism, the larger society can understand why flappers behaved in the manner in which they did. Sigmund Freud claims that the libido was one of the most natural of human needs that allowed Flappers to explore and experiment sexually (Independence Hall Association in Philadelphia). He believed that a variety of nervous and emotional ills came directly as a result of sexual repression, concluding that Flappers were not acting out of the norm for mere pleasure alone, but for health reasons as well. (Kennedy and Cohen, Lizabeth 708). By the Flappers standards, they had been denied sexual gratification and liberation all their lives. Once the y received that small taste of individualism and excitement that came with the aftermath of World War I, these women could not undo themselves and decided to completely defy gender norms, thus creating the undeniably flamboyant Flapper culture. Although I am not a hardcore feminist, I definitely agree with the Flapper philosophy of expressing individualism and putting an end to social double standards. Women deserve to express themselves, not only at home, but in the workforce as well. Flappers did not necessarily protest or actively participate in womens movements that gave rise to important milestones; however, the Flapper was a symbol of empowerment and liberation that changed the course of a womans role in America. In fact, I might not have the freedoms I do today if flappers had decided to remain silent and stick to the status quo. I greatly admire them taking the first steps to break out of the mold that women had been shaped into. As a person who buries herself in schoolwork, I especially admire the carefree and fun attitude of the Flapper and I like to think of their motto as living life to the fullest which definitely makes life more exciting if followed as the flappers had. I also agree that repression causes rebe llion, and, in this way, the Flapper had a right to experiment and find a life for herself, according to her own standards. Although women still have a long way to go, the Flapper culture most definitely inspired generations of women to come out of the wood work and express themselves as empowering individuals. References Celania, Miss. The Society Pages. 25 March 2013. The Rise of the Flapper. Web. 11 March 2017. Independence Hall Association in Philadelphia. U.S. History Precolumbian to the New Millenium. 2016. Web. 11 March 2017. Kennedy, David M. and Cohen, Lizabeth. The American Pageant. Boston: Cengage Learning, 2016. 708. Textbook. Rosenberg, Jennifer. thoughtco. 2 February 2017. Flappers in the Roaring Twenties. Web. 11 March 2017. Thomas, W. LaVerne. Sociology- The Study of Human Relationships. Austin: Holt, Rinehart, Winston, 2003. 39. Textbook.

Saturday, January 18, 2020

Alone Together: The Impact Of Social Media and Its Relationship to Loneliness Essay

Alone Together: The Impact Of Social Media and Its Relationship to Loneliness In the school, parks, restaurants, or streets we can always see a person who is busy â€Å"tweeting†, checking Facebook, or putting pictures to Instagram. Earlier in the past, people would spent their free time with family and friends, reading books, going to the park with kids, and playing games outside. If in the last century, people could say, â€Å"You are what your friends are†; nowadays, you are what you â€Å"like†, post, or share on Facebook. Social media networks have became some of the most entertaining and popular things all over the world, as well as it makes us remember the quote by T.S. Eliot: â€Å"Distracted from distraction by distraction.† Social media is a network of web-sites where people share or discus information; also, it is a great op- portunity to communicate long-distance and build new friendships. Although, social network was designed for people to become closer and h elp to improve their relations, it also declined out at- tempt to communicate in person. In urban life, social media makes such a lonely activity for us — to be stuck in front of the screen. The paradox of social technology that reduces our social in- volvement does affect a lot of people, and can lead to social awkwardness and loneliness. As big as the media itself, it connects all of us in every single aspect, but makes us to be alone together. How does social networks reduce our social involvement? There are three ways through which social media brings us to isolation from the real world: it is easy available, entertaining and very popular. At first, it is so easy and free to make an account on social website, such as Tweeter, Facebook, MySpase, Skype and so on. Because many of us have internet on out phones, it makes it more available and on the go. The statistics shows that, â€Å"over a billion people belong to Face- book, the world’s largest online social network, and over half of them log in daily† (Kross). Being around your friends or in school, we would not realize that we keep looking at our phones, and checking the latest news. Social networks m ake it easy for us to control distances — weather you choose open up for people, or keep them away, there is always a capability for you to keep your distance just right. I use social networks in my regular life, and it helps me to communicate with my family from all around the world. It is easier and cheeper for all of us; we do not have to spent money on our plane tickets, and cancel our plans,  because we can connect over the com- puter. On another hand, the technology reduces chances for me to travel and visit my family. In this way, we can see how easily our conversations transform to connections. People do not have to plan meetings and events in person, because they can connect, press button, and promote everything. Nowadays, most of the things we search for is through â€Å"the easy way†. Wether its interviews, shopping, planning birthday events or reunions, anything what we would usually do in person, now we do without getting out of our houses, and even without leaving our room. By sitting in front of the screen, and doing our â€Å"easy available† activities, we isolate ourselves from social life, which is also shows our laziness based on advantages of technology. Another of the ways though which social network isolating us from the real life, is the entertainment of it. People in general cannot live without something that can make them feel ï ¿ ¼happy and satisfied. Its a great source for us to get entertained, because being online we can present ourselves that we want to be. People can filter all the negatives and show only the positives through uploading pictures, statuses or other information. Social networks such Facebook have a huge amount of groups where people can share their interests; therefore, we have no need for meeting people in person, if we know whats going on in their lives through computer. It is of course helps more introvert people to find new friendships, but it does opposite outcome for more extrovert people, who get addicted to online society. Like video games, and mass media, social media has a great influence on us to get stuck at home. In one of the journals by Graeme Hutton, explains the connection between entertainment activities and humans: Passive social media activities — online reading and viewing, for instance — typically demand less involvement and cognitive processing than such active pursuits as writing, creating video, and posting to sites. Consumers are more likely to be involved in passive rather than active usage largely because such activities demand less conscious effort (566). The quote shows the relation that has speed up our social media use; which is also reminds us of the â€Å"easy available† entertaining activities that lead us to spent less time in public. More people get lonely, or depressed without socializing, and you can benefit from social network, that give you an opportunity to connect, or in some cases to disconnect from people. Finally, when you create a free account, make your profile and put  your â€Å"life† into it, most of people want to get famous. In another words, we want everyone to know what we are doing, and see how many people â€Å"like† or â€Å"share† it with us. People want to be popular, so their news get a top rank on a â€Å"news feed†, such as one on Facebook. We â€Å"engage socially online†, because we have â€Å"needs to promote ourselves† (Hutton 566). But as we search through our news feed we can see already â€Å"popular† people, who usually very good looking, or rich, or successful in their lives. Such little things makes us feel insecure about ourselves, and think that we are not good, pretty, smart enough. After these activities, some of us get soc ially awkward and do not want to attend the public, which will lead our road to loneliness. On another hand, the â€Å"popular† people spent a big amount of hours on the computer to promote themselves, which makes them lonely from the lack of activities they could have done outdoor with their friends. This example makes us to see the paradox of social technology, where we can feel cut off from other people even if they around us. In the short future, our generation will have a plugged-in lives. The explanation of it is that more and more people will get lazy, fake, insecure or jealous that would lead our society to shift. We would have more stereotype than unique people, because it will be â€Å"easier† for us to communicate with people such like us ourselves. Lack of emotions will increase, because people will forget how it is to have a facial expression. Loneliness will take the major spot, because we will be scared to act in front of other people whether than the screen. World will become a smaller place, but in this case it will fundamentally affect our so cial life. We will be alone, but together seeking for connection, and if people want to escape from loneliness, they would have to rely on new technology; therefore make it a vicious cycle.

Friday, January 10, 2020

Stefan’s Diaries: Origins Chapter 3

August 21, 1864 I can't stop thinking about her. I will not even write her name; I daren't. She is beautiful, entrancing, singular. When I'm with Rosalyn, I am Giuseppe's son, the Salvatore boy, essentially interchangeable with Damon. I know it would not matter one whit to the Cartwrights if Damon took my place. It is only me because Father knew Damon would not stand for it, knew I would say yes, just like always. But when I saw her, her lithe figure, her red lips, her eyes that were flickering and sad and thrilling all at once †¦ it was as though I was finally just myself, just Stefan Salvatore. I must be strong. I must treat her like a sister. I must fall in love with the woman who is to be my wife. But I fear it is already too late†¦. Rosalyn Salvatore, I thought to myself the next day, tasting the words as I walked out the door, ready to fulfill my duty by paying a second call on my soon-to-be-betrothed. I imagined living with Rosalyn in the carriage house–or perhaps some smaller mansion my father would build as our wedding present–me working all day, poring through ledgers with my father in his stuffy study, while she took care of our children. I tried to feel excitement. But all I felt was cold dread seeping through my veins. I walked around the grand path of Veritas and gazed wistfully up at the carriage house. I hadn't seen Katherine since she arrived yesterday afternoon. Father had dispatched Alfred to invite her to supper, but she'd declined. I'd spent the evening looking out the window toward the house, but I couldn't see any flicker of candlelight. If I hadn't known she and Emily had moved in, I'd have assumed the house had remained unoccupied. Finally, I went to sleep, wondering the whole time what Katherine was doing and whether she needed comforting. I tore my eyes away from the drawn upstairs shades and trudged down the driveway. The dirt road under my feet was hard and cracked; we needed a good rainstorm. There was no breeze, and the air felt dead. There wasn't another person outside as far as the eye could see, yet as I walked, the hairs on the back of my neck stood on walked, the hairs on the back of my neck stood on end, and I got the uneasy feeling that I wasn't alone. Unbidden, Robert's warnings about walking off on my own floated through my mind. â€Å"Hello?† I called out as I turned around. I started. Standing just a few feet behind me, leaning against one of the angel statues that flanked the drive, was Katherine. She wore a white sunbonnet that protected her ivory skin and a white dress dotted with tiny rosebuds. Despite the heat, her fair skin looked as cool as the pond on a December morning. She smiled at me, displaying perfectly straight, white teeth. â€Å"I had hoped for a tour of the grounds, but it seems you are otherwise engaged.† My heart pounded at the word â€Å"engaged,† the ring box in my back pocket as heavy as a branding iron. â€Å"I'm not †¦ no. I mean,† I stammered, â€Å"I could stay.† â€Å"Nonsense.† Katherine shook her head. â€Å"I already am taking lodging from you and your father. I will not take your time as well.† She raised a dark eyebrow at me. Never before had I spoken with a girl who seemed so at ease and sure of herself. I felt the sudden, overwhelming urge to whip the ring from my pocket and offer it to Katherine on one knee. But then I thought of Father and forced my hand to stay put. â€Å"May I at least walk with you for a bit?† Katherine asked, swinging her sun umbrella back and forth. Companionably, we walked down the road. I kept glancing to my left and right, wondering why she didn't seem nervous to walk, unaccompanied, with a man. Perhaps it was because she was an orphan and so utterly alone in the world. Whatever the reason, I was grateful for it. A light wind blew around us, and I inhaled her lemony ginger scent, feeling as though I could die of happiness, right there, next to Katherine. Simply being near her was a reminder that beauty and love did exist in the world, even if I couldn't have them. â€Å"I think I shall call you Silent Stefan,† Katherine said as we walked through the cluster of oaks that marked the line between the village of Mystic Falls and the outlying plantations and estates. â€Å"I'm sorry †¦,† I started, fearing that I was as dull to her as Rosalyn was to me. â€Å"It's simply that we don't get very many strangers in Mystic Falls. It's difficult to speak to someone who doesn't know my whole history. I suppose I don't want to bore you. After Atlanta, I'm sure you find Mystic Falls a bit quiet.† I felt mortified as soon as the sentence left my lips. Her parents had died in Atlanta, and here I was, making it sound like she'd left some exciting life to live here. I cleared my throat. â€Å"I mean, not that you had found Atlanta exciting, or that you wouldn't enjoy getting away exciting, or that you wouldn't enjoy getting away from everything.† Katherine smiled. â€Å"Thank you, Stefan. That's sweet.† Her tone made it clear she didn't want to delve into the topic any further. We walked in silence for a few long moments. I kept my stride deliberately short so Katherine could keep up. Then, whether by accident or by design I'm not sure, Katherine's fingers brushed against my arm. They were cold as ice, even in the humid air. â€Å"Just so you know,† she said, â€Å"I don't find anything about you boring.† My entire body flamed hot as a conflagration. I glanced up the road, as if trying to ascertain the best route for us to follow, though really I was hiding my blush from Katherine. I felt the weight of the ring in my pocket again, heavier than ever. I turned to face Katherine, to say what, I'm not even sure. But she was no longer by my side. â€Å"Katherine?† I called, shielding my eyes against the sun, waiting for her lilting laugh to rise up in the underbrush along the road. But all I heard was the echo of my own voice. She had vanished.