Do Footballers get paid too much for what they do?

Hello, today I am going to be giving you a speech on the topic ‘Do footballers get paid to much for what they do?' Premiership footballers, 17-18 year olds earn the average of à ¯Ã‚ ¿Ã‚ ½24,000 a week and for 27 – 28 year olds it is up to 899,500 a week! David Beckham has just signed a new deal with Manchester United which will make him the highest paid footballer in the world. He'll earn around à ¯Ã‚ ¿Ã‚ ½11m a year. But are footballers' wages ridiculously high? Are they damaging to the game? Or do you think they're worth it because their careers are so short and they really need the cash? It's madness. They just get to do their hobby and they get paid the best, it's just crazy! They don't cure anyone, teach anyone or help anyone by kicking a ball around a pitch do they? So the money should be going to the doctors and teachers who do a lot for the world. By contrast, the average doctor is paid 75,000 per year. Yet doctors are relied on by the public, you and me to save people's lives and generally help our welfare of us and footballers merely have a natural talent to run around a field and kicking a football around. What would you rather have? Doctors who save your family and save your life or have the entertainment of footballers running around the pitch and rolling around on the floor? Others argue that the game is being ruined due to the high salary of footballers. Even the people on the bench sitting down doing nothing getting paid vast amounts of money for doing absolutely nothing! Getting paid more then teachers by sitting around the edge of the pitch AND get a free ticket to the game. Also during these difficult times due to the credit crunch, think what uses we could use that money on! Our NHS service could be improved enormously. But you can admire some footballers who give up most there salary to a charity. Perhaps the footballers are making playing football look too easy After all, how hard can kicking a football around the pitch be? Not many brain cells required. Some people talk of footballers as role models for many young fans. But what are we meant to think when a player gets drunk at a party on a Friday night and goes and attacks a member of the public? And when a footballer goes out and trashes a brand new 500 thousand pound Lamborghini and doesn't care just buys a new one with out looking back. That is my view on ‘Do footballers get paid too much for what they do.'

Can Globalization Be Reversed Essay

With the coming of the industrial age, the wheel of progress turned. Factory based mass production replaced independent artisans, who now worked for business firms (Volti, 2009, p. 187). The workers became dependant on businesses to provide facilities to work in, tools to work with, and wages to take home, creating a society of employees (Volti, 2009, p. 187). Since work and income was now dependant on the factories, workers need to find homes in relative proximity, thus leading to higher density of individuals within the urban areas surrounding the manufacturing centers. With urbanization came a need for production and transportation of food to the growing cities. In the 18th and early 19th centuries, this food was generally produced locally on the surrounding farmlands with only the occasional delicacy imported from a foreign land. While factory work was hard and the hours long, people chose it over subsistence farming as it lead to a better standard of living for themselves and their offspring. Bertha Black remembers her family’s move to a mill town: We all went to work, in the Amazon Cotton Mill and we all worked there all our lives. We were all anxious to go to work because, I don’t know, we didn’t like farming. It was so hot from sunup to sundown. No, that was not for me. Mill work was better. It had to be. Once we went to work in the mill after we moved here from the farm, we had more clothes and more kinds of food than we did when we was a farmin’. And we had a better house. So yes, when we came to the mill life was easier (Rivoli, 2009, p. 110). Thus began urbanization which continues to this day, with 50% of the global population residing in urban centers (Satterthwaite, 2010, p. ). This urbanization is directly coupled with wealth, where the â€Å"more urbanized a country, the higher the individual incomes (Satterthwaite, 2010, p. 1)†. The United States, one of the top 20 global incomes per capita (World Bank, 2011, p. 1), supports this, as 82. 1% of the population live in urban centers (Satterthwaite, 2010, p. 2). Urbanization trends have been linked to enhanced democracy, technological innovations, economic progress, and higher living standards (Satterthwaite, 2010, p. 2). Is it any wonder then that â€Å"[n]o matter the path of economic development a country has chosen, urbanization remains an inevitable outcome of this effort across the world (Satterthwaite, 2010, p. 1)†. As the living standards and population densities of urban centers increase, so too do the distance that food needs to be transported. Today, a large urban center, like the greater New York City metropolitan area with a population of over 21 million people (US Census, 2010), has to reach to great distances for its food. This is because 1. acres of arable land are required per person to maintain the diverse diet American’s enjoy (Pimentel & Giampietro, 1994). This translates to 25. 2 million acres of arable land being required to feed New York City. Thus 7% of the US population (US Census, 2010) requires 10% of America’s farmland (USDA, 2012, p. 56). It should come as no surprise then that our agriculture imports exceeded $94 billion in 2011 (USDA, 2012, p. 90). The comparative wealth of the American populace, coupled with their culinary desires leads to a demand for imports of produce and other horticultural items during the off seasons in the US. Put another way, Americans’ desire for fresh tomatoes on their Del Taco tacos in February in the American northeast drives global trade to farmers in Central and South America. The motivation of the labor market, to increase quality of life, explains the willingness of individuals to accept factory work and their desire to progress to better, higher paying jobs. Neo-classic economic theory explains business motivation to achieve maximum profitability through efficiency of production (Weintraub, 2002). Efficiency is maximized through three inter-related and adjustable parameters: technology; labor; materials. Technology, as expressed in terms of facilities and equipment, is a fixed cost of production, whereas labor and materials, including transportation expenses, remain variable costs (Starr, 2008). In achieving the optimal balance, any large discrepancy will heavily weight the calculation. For example, the wages for textile workers in southeast Asia are 7% of the wages in United States (Rivoli, 2009, p. 104). This large of a differential in the variable cost makes it virtually impossible to create an equivalent model through enhanced technology, especially when most technology advances can be applied to factories located in the lower labor cost countries. Thus Rivoli’s â€Å"Race to the Bottom† continues (Rivoli, 2009, pp. 92–104), bringing with it industrialization and urbanization. As with any race, there are winners and losers. The countries acquiring the manufacturing jobs and the companies maximizing their profits through relocating manufacturing to the lower labor cost countries are obvious winners. The employees of the factories being off-shored are initially the losers, until the race progresses to the next industrial sector. A clear example of this is the Carolinas, where many textile worker’s jobs have been lost to southeast Asia, now have opportunities for better paying jobs in auto manufacturing. BMW opened a plant in Spartanburg, SC, the middle of the cotton belt, which generates over $1. 2 billion in wages and salaries annually (Ramsey, 2009). Thus the race continues, moving from industry to industry, as total production cost dominates companies’ decisions on where to locate manufacturing. However, many of those losing their jobs in America raise the cry to stop globalization, reconstitute local manufacturing and local food markets. This would not appear to be a feasible alternative for three reasons. First, the degree of urbanization present in the United States makes it unreasonable to expect food to be produced locally. Similarly, the relative wealth and current lifestyle lead many to expect and demand fresh produce year round. Together, these preclude a shift to locally grown and produced foods. Second, most companies in America today have some aspect of globalization present in their value chain. This can be upstream in their suppliers of materials and/or equipment or downstream in their customers. This is readily apparent in large corporations, such as Nike and WalMart, but it is also present in smaller companies. Rygaard Logging, Inc. out of Port Angeles, Washington is a good example. This small company relies on equipment imported from South Korea and Germany to harvest logs. China has become the largest buyer for timber from the northwest, thus becoming an attractive customer for Rygaard (Springer, 2011). Unwinding these value chains to bring manufacturing back to America may be possible, but would require the will of politicians in Washington to face the public backlash as prices increased, and selections decreased (Rivoli, 2009). Third, the growing population requires more land be utilized for their living and working environment. Current estimates show each person in the US consumes one acre for housing, work facilities, and supporting infrastructure (World Bank, 2011). Further, the current population growth is over 50,000 new people per week (Pimentel & Giampietro, 1994), meaning that over 2. 5 million acres of arable land or bio-diverse forest land is lost annually, increasing the pressure on food production. Plus, these people are generally employed by firms that rely on globalization in their value chain, as described above. Together, these factors make it highly improbable that the US can return to 100% locally produced foods and companies whose value chain resides 100% within America’s boarders without significant changes in lifestyle.

School Health Plan

School health programs are becoming more and more popular as health concerns grow. Students need to be aware at younger ages of the concerns that face our society, and the ways that they can combat these concerns through good health knowledge. Several school districts have implemented comprehensive health curriculums and programs, and many states have standards regarding health education. The following articles detail different health programs and concerns. In Michigan, there exists state content standards in the area of health education. The Michigan curriculum calls for health education to occur at least 50 hours per year from pre-kindergarten through twelfth grade, with a curriculum that is developmentally appropriate at every level and builds on skills and knowledge each year. Further, it calls for school staff to collaborate on healthy behaviors with the school health teacher, so that health can be a priority within the school. The article suggests that classroom teachers, gym teachers, cafeteria workers, classroom teachers, and other professionals work together to help students with healthy behaviors and knowledge (Michigan Board). There is a general concern that although students’ unhealthy behaviors are fewer than they previously were, there are still too many students who are engaging in these unhealthy behaviors. The target behaviors the program is looking at are healthy eating, physical activity, social/communication, sexual behavior, alcohol and drugs. The program aims to teach students specific knowledge about how certain behaviors can be harmful, and how they can make healthier choices. It also aims to teach them general health principles and how to apply these in social, school, and family relationships (Michigan Board). This curriculum is to be taught by qualified health instructors. A qualified teacher will have a certification in health education or family and consumer science, in addition to a teaching license, and/or will have undergone another type of training program. The teacher will not act alone, but will collaborate with other teachers in the building in order to incorporate healthy choices into all aspects of the school day. The article is careful to say that this collaboration must not take the place of health classes, but must be in addition to them (Michigan Board). The article’s research shows that students who are involved in effective health classes show fewer risk behaviors and more pro-social behaviors. They are also more on-task in the school environment and less likely to be distracted by health problems (Michigan Board). Two professors of health education wrote an example lesson plan for integrating health into the math curriculum. Students can study the number of fruit and vegetable servings needed in a day, and can practice adding and subtracting the number of servings needed depending on how many have been eaten so far. They can also look at what constitutes a serving, and some basic nutritional information about different fruits and vegetables. This lesson neatly involves both math and nutrition, and ends with students being able to taste fruits and vegetables that they have brought in from home. Lessons like this can be created to integrate health into any subject area (James and Adams). Different student groups have different needs, and educators have different concerns for them. For example, students with special needs may have certain dental concerns that typical students don’t have. Students with disabilities may experience drooling, teeth grinding, problems swallowing, or have to take a lot of sugary medication. There are several other oral issues that may affect them as well, depending on the disability. What’s more, these students may not have the comprehension, or physical skills to engage in typical oral hygiene, and their caretakers may not see it as a priority. For that reason, health teachers need to emphasize the role that oral hygiene plays for these students, and encourage either them or their caregivers to help them maintain good oral health, as appropriate. Health teachers can also help these students to obtain proper dental care and, if necessary, orthodontic care (Perlman and Miller). The authors outline a program that can be implemented for each student to encourage good oral hygiene. Students should be given reinforcers when they complete the target behaviors, i. e. brushing, flossing, etc. This plan can be implemented in a variety of ways to encourage good oral health (Perlman and Miller). Other states have different issues with health care. Texas, for example, has been having problems paying for teachers’ health plans. They have recently begun offering teachers an additional $1000 that can be used for additional health care coverage, or whatever else they want. This is only one measure that is necessary to help the people make good health decisions. Having enough money to pay for health costs will enable people to have more options (Keller). Texas is not the only state that is having problems, however. Many school districts are having issues in negotiations over health care, including districts in Ohio, Wisconsin, Rhode Island, and New Jersey. Money is tight in all of these districts, and teachers in some cases are going on strike to protect their rights to health care and appropriate salaries. Funding is a serious issue in the area of health care right now (Ponessa). Another major concern in the area of health is that teenagers don’t have enough access to health care, especially preventative services. A recent article details the problems. Students whose families do not have health insurance cannot afford to see regular doctors. Even though who do see regular doctors are at a possible disadvantage, because the doctors are not trained to handle actual preventative care, such as weight loss counseling, cholesterol reduction counseling, sexual health screenings (including for STDs and more routine Pap smears for women), quitting smoking, and HIV awareness. Doctors address these issues in less than 5% of cases in which students go to the doctor for preventative care purposes (Santelli et al). Additionally, teenagers do have access to certain specialized clinics, like public health clinics, Planned Parenthood, etc. Even teens without insurance can go see doctors at these places, but again, preventative care is rare. Also, many of these clinics are set up for adults, and may not be friendly to the teens who enter them. Instead, more health care options need to be available to teenagers so that they can take advantage of preventative care and make healthy decisions with their doctors. Teens see doctors as a reliable source of information, and they trust doctors, so it is obvious that doctors need to be involved in this situation (Santelli et al). Ideally, the authors think, schools should provide health services, because: â€Å"School health programs provide health services, health education, a healthy school environment, social and psychological services, physical education programs, school nutrition program, health promotion for teachers and staff, and integrated efforts with parents and the community† (Santelli et al). That is, schools can provide a totally comprehensive program, which reaches out to all aspects of a student’s life. School-based programs can increase access to health services for students who need them most, including poor and minority students. There is not yet any consensus on how and why schools should provide these services, but the opportunities and benefits are obvious. In addition to reaching certain populations of students, schools also feature a captive environment for students. This means that the delivery of services is easier, since students are already there, and spend several hours in school everyday. For students who may live several miles from the nearest public clinic, school-based services are much more convenient, and much more likely to draw students in (Santelli et al). The study then looks at which health programs are effective, and why. Schools and managed care operations will not want to provide services if they are not cost effective, so the study of benefits is important. One finding is that traditional hearing and vision screening is not particularly beneficial, as these conditions are not considered a threat to the school population. However, newer research shows that when schools attempt to vaccinate students, they are able to get up to 75% to participate. Along these lines, should a contagious disease (like measles) break out among students, schools can quickly identify the source, and vaccinate and/or treat students to stop the spread. Additionally, there is some evidence that STD screenings and pregnancy-prevention education has reduced the spread of STDs and the number of teen pregnancies. The authors recommend that local public health concerns be taken into account when schools are choosing what services to provide (Santelli et al). Schools and managed care organizations continue to be concerned with cost. Because no true studies on cost effectiveness are available, researchers have had to look at how well programs have done in changing behaviors. Also, health expenditures for major issues, like hospitalizations related to chronic conditions or STDs, pregnancy, etc. ay mean that organizations cannot stretch funding to provide appropriate preventative care, even after acknowledging that doing so may reduce these costs. So, further research on cost effectiveness and ways to treat adolescents is needed (Santelli et al). Examples of communities where health programs have been put in place successfully are possibly a mong the most encouraging stories available. A community in Michigan had low attendance rates and test scores, and high dropout, teen crime, teen pregnancy, and suspension rates. Their goal was to turn the school community around. To do so, they consulted community members, and ultimately settled on a plan that reflected Maslow’s hierarchy of needs. They offered better school lunches, more physical education, more health education, counseling services, health screenings and partnerships with local doctors, free daycare for teen parents, and preschool programs for three and four year olds. Over a five year period, the school saw a significant rise in attendance and graduation, and a significant drop in crime rates, dropout rates, and more. Test scores rose as well, because students were feeling better and were better cared for within the school. This community shows that by focusing on the students’ real needs instead of test scores, they were able to improve the quality of their programs and their positive effect on students’ lives (Cooper). The final article looks at how to create a health plan within a school, specifically relating to individual student needs. Many students have chronic health concerns, such as epilepsy or diabetes. In treating student health concerns, schools must be aware of any existing medical conditions their students have, and be prepared to treat them as needed. This includes administering any necessary medication, as well as knowing any specialized emergency procedures (EP). II. School Health Plan In developing a health plan for my own school building, I am looking to all of this research to see what is appropriate. First of all, it is obvious that the school needs a health program, because these show a significant benefit to students at all levels and in all areas of their lives – social, academic, health-wise, etc. When proposing this plan to school employees, the board of education, and the community, I will refer to these studies to show the need for such a plan. First, all students within the school need to have health education on a continuing basis. That is, health education should ideally be offered for about ninety minutes per week (three thirty-minute sessions) throughout the school year. In secondary schools, where schedules are more limited, health education should be offered everyday for one semester per year. Health classes will begin in kindergarten and carry through twelfth grade. Topics are to include current nutritional guidelines, selecting and preparing healthy meals, the role of physical education in health, anti-smoking, anti-drugs, frank information about teen sex and its consequences (to include HIV, all other STDs, pregnancy, and also social/emotional concerns), alcohol consumption, pro-social behavior, eating disorders, and any other community concerns. No students should be excused from these classes unless parents insist on religious grounds. Additionally, all students should attend physical education everyday from kindergarten through twelfth grade. Younger students need only twenty minutes; older students (middle school and high school) should have thirty minutes. Physical education must cover not only the basic sports, but also alternative fitness activities, like weight lifting, swimming (if there is access to a pool), walking, cardio equipment, etc. Physical education should take into account each student’s needs whenever possible (i. e. if a student is already physically fit, more opportunities can be given; if a student is overweight, starting slow should be allowed). Physical education teachers should coordinate with coaches of intramural teams, and encourage all students to participate. Some of these teams should be non-competing. The school should also offer health and counseling services. All students should be screened for any diseases that are spreading within the community (STDs, meningitis, pertussis, etc. as necessary) and immunized if appropriate. Students should also be offered the opportunity to see the school nurse (one should be in every building; ideally, one per every 400 students) if they are ill or have other health concerns. Preventative care should be emphasized and available, especially for athletes. Counseling should be available for any students with concerns about eating disorders, suicide, depression, relationship difficulties, abuse, unwanted pregnancy, or any other reason. Students should be encouraged to seek help if they need it, and if other students report that someone needs help, counselors should follow up with that student within the week. Anonymous reporting should be available for students who are concerned about others. Special programs for students who are seeking to quit smoking, alcohol or drugs, or who are pregnant should be provided. If possible, free daycare should be provided to keep teen parents in schools. Finally, any and all students who have health concerns or preexisting conditions should be able to get whatever help they need, whether it’s a permanent bathroom or nurse pass, or scheduled times during the day to take medication. All school personnel involved with the child (classroom teacher, nurse, special teachers, etc. ) should be aware of the student’s health concerns, including emergency procedures and allergies. With this plan in place, students should have their needs met in all different ways, and this will increase their focus in the classroom setting.

Personal Wellness Living Plan Article Example | Topics and Well Written Essays - 500 words

Personal Wellness Living Plan - Article Example Personally, my goal is to work on reducing my body weight from currently 170kg to 80kg. This is a hard task, and for me to achieve it, a lot of disciple and advice from health officials will be very vital. One can reduce weight in many different ways. However, before resorting anyone of them, it is critical to consult medical practitioners to advise you on the best method suitable for you. Health experts have always advised that eating a healthy diet is one of the best ways to reduce the body weight (Moreno 48). Healthy weight reduction takes time and energy, but simple changes in the lifestyle like eating a healthy diet can greatly help in the process. Keeping proper food and exercise diary will be key for me to achieve my goal. A regular workout regime will be developed, and my diet is modified according to my doctor’s advice so as to achieve a healthy weight loss. The implementation of this plan will not be easy as I will have to adjust to some routines that I was never used to before. Having to eat fewer carbohydrates will specifically be tough for me as some of my favorite meals fall in this category of foods. To overcome all these difficulties, I will count on the support of my family members. They will play a big part in my transformation process, offering moral support and guidance. Despite all the challenges I am likely to face in my dream to lower my body weight, my motivation is to reduce the risks of getting high blood pressure and other diseases related to body weight.

A Pictogram Is Worth a Thousand Translations Essay

A Pictogram Is Worth a Thousand Translations - Essay Example ticular personalities concerned are implementing ways to make fingerprinting, among other equally not-so-harmless requirements, a more pleasant and comfortable experience for people who are not very familiar with it. For example, pictures and symbols have replaced textual instructions in posters and signages found throughout international airports. In addition, such activities are also being standardized by the agencies concerned so that international travelers will go through the same procedure in every country. As somebody who frequents airports, it is certainly daunting on my part to have to go through certain â€Å"security measures† before granted passage. These requirements, especially if existing only in selected airports, makes me feel more uncomfortable rather than more secure. Add to this the fact that some security personnel do not even take the time to explain the necessity of the procedures being done. It may also be embarrassing to have to perform a particular security check and end up doing it correctly because no clear instructions were provided in the first place. With that, I think the efforts to make international airports more culturally sensitive are commendable. The use of symbols and pictures as part of the instructions is definitely a welcome change because these symbols are more universally understood than, say, the English language. It should also be noted that such a move be done not only in international airports but also in other places with a high traffic of international personalities such as supermarkets, parks, and schools. The move to make prints adhere to a uniform standard that is the same on a global scale is another pleasant piece of news. One should realize the fact that threats to one’s security no longer just come from one’s immediate community but from an international scale as well. With the standardization of fingerprinting, coordination among different countries will be much easier to accomplish. Overall, the

Target Corporation Assignment Example | Topics and Well Written Essays - 500 words

Target Corporation - Assignment Example The organizational hierarchy as described above indicates that Target has a tall management structure. Companies with tall hierarchies tend to take more time in making decisions. Information flow, be it top-bottom or bottom-top tends to get distorted leading to misinterpretation of the messages sent. Due to this, the organization runs the risk of taking incorrect decisions as they may be based on incorrect information. Tall hierarchies tend to increase management costs as well. Managers are usually paid more than subordinates; therefore each additional level in the hierarchy would contribute to escalating costs. Last, but not the least, employees have the less managerial authority and responsibility which acts as a stumbling block in motivating them. Given the nature and quantum of Target’s business, the company would require a lot of staff. The operational work at the 1750 stores spread across the 49 states is essentially being done by the 3, 55, 000 team members. That translates to a little more than 200 employees per store which is far lower than what the biggest retailer in the world, Wal-Mart has. A clear-cut hierarchy and limited span of control ensure that supervision is effective and the work done is of the highest quality. It is not without reason that the company has won numerous awards. Among others, Target has bagged the 10th spot in the list of â€Å"Top 100 Employers for the Class of 2011† compiled by the Diversity Employers Magazine.

Urinary Disorders I Essay Example | Topics and Well Written Essays - 250 words

Urinary Disorders I - Essay Example with people of his age with hypertension, this condition is associated with hardening of walls of the arteries and arterioles in the kidney and failure in kidney functions, this is evident by the frequent headaches, swelling of the legs and feet, increase in weight due to edema, feeling tired, loss of blood through urine and many more other symptoms of nephrosclerosis (Izzo, 2008). Due to this condition, there is obstruction and destruction of arteries and arterioles in the kidney. The nephrone which filters the blood in the kidney is destroyed leading to nephritic syndrome, this result in a reduction of proteins such as albumin in the blood which in turn causes the accumulation of fluid in the legs and feet, this is the major cause of swelling legs and weight gain (Izzo, 2008). Since there has been destruction of the nephrone, a lot of nutrients and proteins are excreted in urine together with traces of blood, this requires a lot of water for excretion which in turn results in dilute urine. Blood is also lost in urine in people with this conditions thus they tend to develop anemia in the long run due to deficiency of blood, even albumin constituent in blood goes down. Metabolic acidosis is as a result of retention of the week acids which were to be excreted by the destroyed kidneys thus once they are retained they cause this condition. Treatment for this condition is by administration of antihypertensive drugs in an effort to reduce the pressure of blood reaching the kidneys; the other treatment is by undertaking a kidney transplant although it will not be as effective as the original (Izzo,

Group accounts Essay Example | Topics and Well Written Essays - 1000 words

Group accounts - Essay Example FRS 2 'Accounting for Subsidiary Undertakings' details the conditions under which a parent company of subsidiaries should prepare and present consolidated financial statements. The FRS also spells out the manner in which the consolidated accounts need to be prepared. As per the FRS the purpose of the consolidated financial statements is to provide detailed information about the activities of the whole group of undertakings including the subsidiaries (ASB). The FRS adopts the definition of a group as provided by the Companies Act 1985 as amended by the Companies Act 1989. In the preparation of group accounts the primary consideration should be the effect on the users of the financial statements with respect to their ability to see the complete economic activities of the group and to ascertain the exposure of the parent company to risk through its interests in the subsidiaries and participation in their activities. Hence it becomes necessary that the qualitative aspects of materiality are given full consideration in respect of preparation of the group accounts. The accounts of the subsidiaries are to be consolidated in accordance with the procedure laid down in FRS 2. This requires consolidation on a line-by-line basis and also the removal of the all transactions within the group companies. Goodwill on acquisition is to be calculated on the basis of FRS 2 and FRS 7. In order to ensure that the parent company group accounts comply with the UK Generally Accepted Accounting Principles (GAAP) adjustments to the data from the subsidiary companies' accounts need to be made as the first step in the consolidation process. These adjustments managements may related to the profits or losses on disposal of assets and the notional interest and any directly controlled assets and liabilities that have been excluded from the subsidiary accounts. The effect of consolidating the parent and the subsidiary companies may be that the aggregation being undertaken in the process of consolidation may obscure the useful information about the different companies whose accounts are being consolidated and by inclusion of the activities in the consolidated financial statements. Hence the parent companies usually provide a segment-wise analysis of the activities and their results in the financial statements with useful information on the various risks and rewards, as well as the growth and potential for profitability for different member companies of the group. It is also mandatory that the financial statements of all subsidiary companies to be consolidated should have the same financial year end and must represent the financial results for the same accounting period as that of the parent company. When the parent company acquires a subsidiary company according to the FRS the identifiable assets and liabilities shall have to be brought in to the consolidation at fair values on the date the company became the subsidiary. This is so even when the acquisition is made in different stages. Cash Flow A company's financial statements have three important components. The balance sheet, income statement and the cash flow statement. The balance sheet gives an overview of the assets and

Say no to Racism Assignment Example | Topics and Well Written Essays - 250 words

Say no to Racism - Assignment Example Direct racial discrimination involves treatment of an individual in a less favorable manner compared to others in the same circumstances on the basis of ethnic or national origins as well as actual origins of the victims (Eisenstein 2004, p. 65). Unlike direct racism, indirect racism occurs when application of a certain practice to everyone affects only some races or people from specific national origins. This type of discrimination can also be presented when a small portion of persons from a particular racial group meet a non-discriminatory condition more effectively than other people from different races (Lennox 2009, p. 200). Victimisation takes place when a person is treated less kindly than other people in similar situations because of grumbling about racial prejudice or supporting a person who underwent the same predicament (Lennox 2009, p. 201). Harassment, on the other hand, involves a person violating another person’s dignity on the basis of ethnic or race group. Hara ssment is very typical; it takes place in schools, offices, public transport sectors, and everywhere in the society (Helms 2015, p. 140). Majority of the people become racists because of what they learn from their immediate surroundings (Helms 2015, p. 139). However, some are racist because of ignorance; conservative families do not appreciate culture diversity. Racism is very high in Russia because of the large number of racists. In connection with this, it is evident that Russians often harass black players by likening them to monkeys (Spector 2014, p. 124). It is a result of this that there are many anti-racism advertisements in football (Spector 2014, p. 129). In relation to this assertion, racism can be overcome by enhancing proper child upbringing. Punishment should also be encouraged to those perpetrate the vice in all fields (Helms 2015, p. 144). Eisenstein, ZR 2004, Against Empire : Feminisms, Racism, And The West, n.p.: Melbourne :

Modern Tecnological Rivals or partners Essay Example | Topics and Well Written Essays - 1250 words

Modern Tecnological Rivals or partners - Essay Example As a result, India has become politically and economically more influential in the region in the past ten years. However, trade among the South East Asian nations and India has not been balanced. In early 2003, trade talks stalled; its trade agreements with individual nations have proceeded smoothly, but with the entire ASEAN group reaching agreement has been difficult. In order for India to accomplish internal reforms, it needs allies and trade with its neighbors (Hong, 2007, p. 129). Smaller economies in the region want to protect themselves from being flooded with cheaper Indian goods, so India has had difficulty leveraging trade agreements with all nations in the region. Smaller economies want balanced trade. China, obviously, has great influence in Asia, not only because of its land mass but because of its position in global politics and economics. China has ramped up trade with everyone across the world and as a result, its economy and clout have increased as India’s has been decreasing. In response, India has increased its relationships with Vietnam, Laos, Cambodia, Myanmar, Thailand, Bangladesh, and Sri Lanka, both through the ASEAN and the BIMSTEC coalitions. However, India is not currently powerful enough to threaten these nations’ relationships with China (Hong, 2007, p. 133). For its part, China would prefer to work with India rather than see it rise as a power in its own right. Encouraging interdependent economies and setting aside political differences would stabilize the entire region. Overall, India, China, and the ASEAN nations have similar political views and all three are attempting to increase global trade (Hong, 2007, p. 138). This introduces a competition among them as each entity tries to balance internal growth, regional partnerships, and the need to establish themselves in the global economy. To resolve the situation, it is in the best interests of all to strengthen partnerships. Hong’s

Compare the Ways in which John Steinbeck and Thomas Hardy Explore the Theme of Loneliness Essay Example for Free

Compare the Ways in which John Steinbeck and Thomas Hardy Explore the Theme of Loneliness Essay The two books have one clear element in common. The two authors, Steinbeck and Hardy, give us a great outlook on loneliness in its many forms. They communicate their ideas and thoughts to us in a very similar manner, despite being from very different times and walks of life. Of Mice and Men, is set and was written during the Great Depression of the United States of America in the early 1930s, in the Salinas Valley of California, tells us the story of George Milton and Lennie Small. The two migrant workers, bound together by an unusual and sure friendship, are in pursuit together of the Great American Dream their dream. They will have their own land, be their own masters and no longer have to answer to anyone, and finally live in peace. On the other hand we have The Withered Arm, set in the early 19th Century as one of Hardys Wessex Tales, where he lived all his life. Hardy tells us the tale of a young woman, Gertrude Lodge, as she begins her new life. However, things are not what they should have been as Gertrude is afflicted with an unknown blight, her happiness both threatened and later destroyed. She is not completely alone her plight is intertwined with that of Rhoda Brook, who carries a great pain in her heart and a great power, or perhaps a curse, that not even she realises. The two texts are each set in the same rural environment as that of their authors, both bringing us the tale of so many people struggling through their lives as best they can. In Of Mice and Men we see that every man, and woman, has their own dreams, their own obsessions to pine away for, to imagine and envisage when they are so often so lonely each has their own thoughts, their method, of escapism from the reality they live in. The Withered Arm, again, in a different manner shows characters angry, obsessed, with lives they could have had and the possibilities that they have lost or had taken away from them. Each are victims of circumstance, each yearn for lives that are no longer theirs, each for a chance now gone. In each difficulty we can see a parallel, and in both books we can see characters sharing the same basic challenges to overcome, and obstacles in their path. Both show us some of the many facets and characteristics of loneliness and trouble in this world no matter how little they look for difficulty and dilemmas, people will always manage to find them, no matter how hard they strive against it. The best laid schemes o mice and men Gang aft agley [Often go wrong] And leave us nought but pain For promised joy Robert Burns As Of Mice and Men begins, we are shown the two migrant farm workers, George and Lennie, on their way to a new job, a new start, bucking barley at a Californian ranch; fleeing much undue upset in their last town, mostly thanks, despite his original intentions, to Lennie. It is late evening and they both spend the night by the Salinas River before continuing on to their new place of work the next morning. It is here that we first discover some of the main personality differences, and conflicts, between the two characters, and learn of their aspirations and their future. We immediately see much of their natures and that of their friendship as Lennie flung himself down and drank from the surface of the green poolsnorting into the water like a horse. Lennie dives headlong, dunking his head into the murky waters of the Salinas like an animal, all for a drink of water; George restrains him, attempting to keep him in line and to keep him safe. George and Lennie have struggled their way through life together, as an inseparable pair, not like all the other hopefuls out there, Because I got you an you got me together they might just get somewhere. The way this particular phrase is repeated so much tells us a lot about their friendship and how they both so desperately need it to survive. The first man was small and quick, dark of face, with restless eyes and sharp, strong featuresevery part of him was defined. We see George as the sharp and able leader who gives Lennie his direction, blunt and bitter when it comes to his frustrations. All too often feeling taunted by the world, his life, and the problems they each throw at him no matter how hard he tries and how much he accounts for it. Despite his quick temper and scathing reprisals, he holds a great care and affection for his travel-partner and the companionship he brings him much more than is at first apparent. George feels responsible for Lennie, he has been Lennies guardian ever since the passing-away of his Aunt Clara, and no matter how hard he tries he always, and always will, feel that Lennies troubles, Lennies mistakes and faults are his own and that which he must resolve and reconcile however much they may cause him yet more problems of his own. George feels a great loneliness inside, believing in his heart himself to be as worthless as every other like him, and as a result of this he gains his purpose to become somebody, and he knows that is something he and Lennie must do and can only do together. Without Lennie he would be nothing, no more than every other man like him alone and without hope. Behind him walked his opposite, a huge man, shapeless of face, with large, pale eyes, with wide, sloping shouldershe walked heavily, dragging his feet a little, the way a bear drags his pawshis arms did not swing but hung loosely at his sides. Lennie, we can already see if very different to George, a slow simpleton, likened to an animal on two counts now, expressing his simple personality and impulsive nature. It is thanks to the pairs great bond and need that we see Lennie as such a vital character in the book, for George is not the only man to whom Lennie brings a purpose, it is around him that so much of the story unfolds and revolves about. Despite the simplicity in his manner and unsure path throughout the story, Lennie brings certainty to all those around him. They are drawn to the raw and basic companionship that his presence brings he is both consort and confidant for all their thoughts and feelings. He neither understands nor takes in much of what they say but, rather than wasting their breath, it seems even more a boon unto them. Lennie is like a wandering sheep and it is George that gives him his direction and his purpose, and as he takes his lead from George, Lennie in turn gains his own shape and dream. Lennies simple, cumbersome shape walks always in Georges shadow, always behind him wherever he may go, no matter what. For Lennie life is as simple as he is it is that which seems to create so many problems for them both, in turn presenting the answers to so many others, and it is this which gives Lennie such a lasting effect on all those around him. The two are together in the pursuit of their own dreams, each finding both a purpose and the means in the other. George dreams of his own land, his own life, and it is much the same for Lennie, on his own basic level. Lennie wishes to care for his own creatures, his rabbits. He loves to hear every word of them that he can get, and George loves to tell them to him so obsessed and incensed are they with merely the thought of what lies ahead for them with the success of their great plan. This form of dreaming and hoping that many of the characters of this story holds shows how everyone of them wishes to escape from the present world that they live in, where society demands everything of them when they have nothing to hold as their own, and nothing to give. Together these two continue their journey, their unique bond always apparent as they cross upon the lives of many others, all showing the properties of loneliness and all for different reasons, giving us an outlook on how so many in this world are alone and isolated, and how what George and Lennie have is so valuable. Aint many guys travel togethermaybe everyone in the whole damn world is scared of each other. The pressure of the American Dream and the demands of that societys doctrines and social structure to achieve are imposed upon everyone and anyone and this is why it becomes such a great feature and driving force behind so much of the loneliness of this book. Every common man goes to America to succeed and achieve something, but society inflicts quite the opposite upon them projecting, forcing upon them, an image of how people should think and most certainly be resulting in loneliness and isolation, a dissatisfaction of themselves and those around them and the ongoing fear of amounting to absolutely nothing. It is ironic that this very society which sets out to have everyone achieve and succeed does quite the opposite, causing so many problems along the way. The nature of the American Dream that so many in this story hold in their minds is that very thing which isolates every one of them from each other, and dooms them to failure. Upon arriving at the ranch, they are met by an old man named Candy and his now old and scrawny dog. It is Candy who explains to them the ways of the ranch, first showing them around and then, as the story progresses, introducing the personalities of the other ranch hands to them. We learn much about Candy himself and who he is, seeing in the second chapter Candy caught listening in on George and Lennies words together, as George attempts to keep Lennie in check and keep him safe. Candy was listening simply to feel as a part of their conversation, to feel involved in something, for Candy craves conversation in any form, so alone does he feel. It can be seen that now for so much of his life Candy has been separated from the other men, isolated from all others. Since Candy lost his hand in an accident upon the farm he has been unable to work with the others, condemned to the menial tasks and solitary life during the day, and now thanks to his advancing years he is even more isolated. His only companion throughout all this time has been his pet dog, a source of consternation for the other men as it nears the end of its days, its presence being an eyesore to them all and odour a cause of much dismay. The animal had been his companion since its birth, and now old and suffering from rheumatism, the men convince Candy to allow them to put it out of its misery for him. As Candy grudgingly agrees, against a great sadness, he loses his oldest and closest friend, and again he feels truly alone. Having no one, he attaches himself to Lennie and George and to the dream they both share and makes himself a part of it, willing to offer all he has, his lifes work and savings, for it to be so. However, as that dream is again jeopardised, perhaps fatally, he still wishes to carry on and fulfil the dream for it is all he has left. It this desperation of Candys to make his new dream, their dream, become so, that yet another man becomes tied up in the illusion and the hope that it brings. Crooks is a fellow worker upon the ranch, a stable buck, working to repair saddles, tools and to look after the horses, unable to do other work since he was crippled, kicked in the back by one of the horses he was working with. We have never heard much of Crooks, only chance phrases from the other men, snatches of comments in the middle of a conversation; he is not often talked about, and never talked to Crooks is a Negro. We do not see him for the majority of the book for he is never with the other men, always separated from everyone, simply because of the discrimination, the ignorance and the prejudices of that time. As the only Negro in the area, he is completely alone, without anyone but himself for so much of his life, but it was not always so. Crooks used to have someone he used to live with his family, they owned a farm, he was with his brothers, his parents his family, and he was counted as someone; now he isnt even counted. The American Dream tells us of equality, of everyone having a chance to attain their dreams, to have something to hold, be proud of and call their own in America everyone and anyone can have just this and be somebody unless, of course, if they are black. This is just a nigger talkinso it dont mean nothing, see? This contradiction and hypocrisy intermittent throughout the dream is that which causes Crooks to be just who he is alone and isolated, helpless and unable to anything about it. When Lennie wanders into Crooks living area simply looking for company as the other men are all away in the town, Crooks shows outrage and indignation that a white man would presume it his right to simply walk into his room without leave. However, Lennies innocence wins through, despite Crooks irritation, Crooks scowled, but Lennies disarming smile defeated him. As Crooks begins to talk to Lennie, and discover the nature of his relationship with George, we see his jealousy that another man could have someone so easy to talk to, such a simple and easy friendship. Such is his bitterness and jealousy over the pairs companionship that Crooks goes on to taunt and tease Lennie with the possibility that George is injured and is no longer going to be there. He tells Lennie that he too is alone and must look after himself and continue life knowing he had someone, had something, and lost it as Crooks did. Crooks wants Lennie to feel what his pain is every day, every hour, and make someone else feel how he does and, in doing so, make himself feel less alone. A guy goes nuts if he aint got nobodya guy gets lonely and he gets sick. As Lennies anger flares up, we see that perhaps Crooks isnt so malicious after all, for he placates Lennie he wants him to stay, despite him being a white man, one who took his life away from him, an enemy. So alone is he that any company will do, black or white it doesnt matter any more; and so It was difficult for Crooks to conceal his pleasure with anger, as Candy joins Lennie. He only has himself and what little company that he can find; he has been separated from others, alone for so long, simply because of the colour of his skin, so isolated thanks to an ignorant and naive prejudice, so much for a dream when Crooks came to America he found an ongoing nightmare. There should be equality, and this is what America shouted aloud to the world everyone in America has a dream to live out, and everyone who comes to America has a chance. However, this is not the case for Crooks despite what people claimed, despite what the American Dream told them, he has nothing but material possessions, and to him they re nothing. Reading books is his only source of company, but Books aint no good. A guy needs somebody to be near him. When Crooks first learns of their dream, not quite as they intended for it was their dream and nobody elses, he scoffs for has heard this kind of a story all before he has seen hundreds of other hopefuls come through the ranch and continue on into nothing. He tells them this mockingly, and also to end their hopes for they too are going nowhere. However, as Candy justifies their hopes in defence, he subsides for he sees the possibilities himself, gets caught up in the trios aspirations and dreams, as Candy did, and pleads to be taken along, to join them simply to be somewhere with others who might accept him for who he is and not for what. Crooks begins to open up, he finally believes himself to be an equal and to be counted, and he has been given back both his hope and a real chance. However, things are not to be as they hoped as the wife of Curley, the boss son, enters. As always the men are wary and bid her leave and in response her bitter temper rises. Crooks stands up to her, thinking outside his place in his newfound happiness, and she drills into him, makes him again realise just who he is, how little all he says and thinks is valued and how much power she holds over him. For a moment Crooks had become a man again and believed in his own freedom, but Curleys wife put an end to that, to his open thought and his belief in all his hopes of being his own man again. Crooks stared hopelessly at her, sat downand drew into himselfCrooks had reduced himself to nothing, no personality, no egoEverything that might be hurt drawn ininto the indomitable pride of the Negro. Crooks the Negro presumed to think himself on the same level as Curleys wife, to cap all the isolation and rejection from every other person on the ranch. So enraged is she that we see the malicious and bitter side of her nature born out of the oppression, the distress and torment of countless similar situations where no one ever listens, where she is always alone. She gives him no quarter as her scathing, bitter anger lashes into him. This conflict amongst and between the oppressed and repressed first between Candy and Crooks, Crooks believing their dream to be as hopeless as all the rest, so demoralised has he become thanks to the life that American society has put him through, and then between Crooks and Curleys wife, simply leads them in a circle, and right back to square one. Both are without freedom and hold little control over their own rights, and still they are brought into conflict by the ways in which society portrays the world and treats each of them, one putting the others hopes and liberty again into doubt, painting a wholly despondent and bleak future -all the more separated from each other, all the more isolated and alone. Curleys wife always appears as a woman up to no good, spoken of hurriedly in whispered conversations. She is always out looking for trouble with the other men, always holding apparent bad intentions as she flaunts herself in a vain attempt to attract them to her, willing to do anything for companionship, and as a result getting quite the opposite. George had always recognised her danger, but Lennie is blind to every bit of it. However, we begin to see that she isnt up to such wickedness as we are first led to believe, and her bitter tongue is simply born of a life of loneliness. The men always shy away from her fearing blackmail from a work mate or Curleys wrath if they were to dare the stigma and go against the rules of society, and become friendly with another mans wife. This fear of the bosses authority and their abuse of it is yet another barrier that stands between ever establishing some true ideals of equality. She has been alone and isolated by everyone for so long, not even her husband listens to her, simply telling her what he wants to say and never waiting for a response. Lennie, never vigilant nor wary for he has no reason to be, is the first person that hasnt looked at her with fear in his eyes, for he is different; she has tried everything and seems doomed to failure everyone is repulsed, everyone resists her, everyone bar Lennie, and she latches onto him because of this. One day she catches him on his own and without George always looking over his shoulder. He is like an open book to her, and instantly accepts her for exactly what she is. She delights in finally finding someone who is such a perfect companion, who no longer draws back away from her in fear, but talks to her as he would anyone else. Despite what is first apparent, she simply wants to be with someone who listens. We learn that she once had a life, once had a chance and could have been somebody, been somewhere and just perhaps have got somewhere in life, but had it taken away from her through no fault of her own, but the unjust and unreasonable actions of another her own mother. To escape that, to escape a dead end and lonely life where one that should be so close to her takes her chances and dreams away from her, she married Curley and inadvertently runs into something much worse. She had a dream, found a chance and lost it thanks to a situation entirely out of her control, and things only go down hill from there. She is alone unable to do anything to escape the life that she now leads, no one is willing to talk to her, she is confined to the ranch and no longer has any chance of happiness, or simply of finding a friend. Yet again, a pursuer of the American Dream finds quite the opposite. She revels in Lennies companionship, temporarily feeling as if she were no longer alone in the world as Crooks did, and so tells him things that she has told no other, opening herself to him and finding that he accepts all that she says without doubt or uncertainty. However, as she learns of Lennies love for the touch and feel of soft things, she lets him closer without restraint or forethought, lets him touch and hold her hair. As she draws away in worry that her hair (and subsequently her looks) are being dishevelled, the one thing she believes herself to truly hold is mishandled, and so she pulls away, expressing her distress. Lennie panics and does the only thing that his simple mind can think of resist, and so he grips hold of her tighter, unwilling to let go, he is confused and frightened and understands nought of what is happening. He fears that if George were to find out that he had made someone unhappy and done wrong by them he would abandon and discard him, fearing disapproval if his actions were ever discovered; and so he clamps his hand over her mouth, hoping that none would hear the noise. He grips even tighter as she struggles all the more desperately in the pain that his awesome strength is causing her, and he jerks and shakes her body in response, in an attempt to silence her. In this he succeeds, but to an extent that he never intended he unwittingly breaks her neck. Yet again Lennie has caused great harm without ever realising it possible, and this time the outcome is greatly worse. She was always alone, always without somebody, even those closest to her appear to have wished against her happiness; John Steinbeck signifies this to us by never naming Curleys wife she was never important to the person, and the people, that she should have been. As soon as she finds someone that was conceivably different, perhaps wasnt like all the others, she takes it all too far too soon, without thinking of the consequences. As a result she loses everything. The story ends in the pursuit of Lennie, George goes after him with the other men for he cannot let them get to him first and it is here that we are reminded of Candys words upon his own companion, his pet dog, I ought to of shot that dog myself, George. I shouldnt have let no stranger shoot my dog. George finally catches up with Lennie at their meeting point where they stayed that first night before making their way onto the ranch. Lennie has been plagued by images and hallucinations from his past and his imagination, so distraught has he become over doing something so wrong and upsetting George in such a huge way, without ever intending to he managed to take away every hope the two had of achieving their dream all thanks to the pressure put upon him to do right by everyone, make no mistakes and allow none to hear of the rest, which leads to him causing more problems than ever before. George has Lennie imagine their dream once more, for that was always how Lennie was happiest imagining his future, escaping from the present. It is in this moment that George puts the gun to the back of Lennies head, and, fighting off his shaking hand, pulls down upon the trigger. He never wanted to, but he had to this was the only possible choice George could have made for the ultimately innocent Lennie, nothing he could do would have been easier, or better, for Lennie. George in doing so loses his one and only companion, every hope he ever had of being somebody and every hope of those around him that became a part of their dream all in that instant every hope was lost. Such is the despair that Candy finds it difficult to let go, he wants to continue the dream and to finish it, despite all which has happened, but he knows that is never possible now. Lennie was the one that held everything, everyone, together and gave them all hope and a chance, and now he was gone. The Withered Arm tells us a story of the ordeal of Rhoda Brook, her son, Farmer Lodge and his newly married wife, Gertrude, as Thomas Hardy chooses to constantly switch your attention, not concentrating on single characters loneliness and hardships, but that of four. We first meet Rhoda Brook working in the cow sheds, a milkmaid, and we instantly recognise how emotionally isolated and detached from others she is. As the other characters about her chat among themselves she chooses to remain apart, and uninvolved, from them all. We see how alone and different from the other simple farm hands she is, He hasnt spoken to her for years, whilst they talk about her and the notorious love affair she had with the Farmer Lodge and his recent marriage to a young lady not from nearby, but the city. She is one apart from the rest, not like them, and no longer does she care or worry over their words and thoughts of her. She remains impassive throughout the conversation and the others comments about her, She knew she had slyly been called a witch. Her physical loneliness and separation, probably much out of choice, is also elaborated upon as She milked slightly apart from the rest, as well as through the description of where she has chosen to live, their course lay apart from the rest. The truth about Rhoda and Farmer Lodges affair, now many years in the past, is widely known in the area. Long ago they were together and for unexplained reasons she was abandoned perhaps upon the realisation of Rhodas pregnancy. The very thing meant to bring a couple closer together and bring with it happiness and companionship may have brought completely the opposite for Rhoda. However, Farmer Lodge has developed very materialistic views, adhering and conforming to those of the society he lives in. Rhoda was below his class, below him, and he could never have been seen in a permanent relationship with her because of that society would never have accepted him. Another possible reason is that of Rhodas advancing years and waning beauty her age is closer to that of Lodges and so his materialism again pushes him away from her as he chooses to marry a young and still beautiful girl not long out of her teen.This is what he feels he must have the best. With the arrival of Gertrude Lodge the final brick is laid in the wall standing between Rhoda and her happiness, between her and Lodge and both of them and their son. We recognise instantly that Gertrude is neither country-born nor country-bred, and knows little of her new life and what lies ahead. From the beginning she is almost completely alone she is a young lady, highborn, and not long out of her teens, lady-like and beautiful, and there are none like her that she can communicate with. Gertrude worries much over others opinions of her, as she desires so much to be readily accepted into her new community. However, things are not to be all she could hope for, as she soon realises how alone she is to be as society separates her from the majority of those around her, thanks to the strict taboos on cross-class relationships and of a lady socialising with those of the lower class. When Rhoda learns of Gertrudes arrival she has her son discover ever detail and feature of the girl, sizing her up and comparing herself to Gertrude in her jealousy, for she believes that it should be she, not Gertrude, that Farmer Lodge should have married and is bitterly angry that he refuses to acknowledge their son and even what they both had between each other as anything but insignificant and irrelevant. The son that Rhoda and Lodge both had together is yet another great example of the loneliness that this story portrays as his mothers loneliness and emotional feelings merely add to that of his own. Hardy chooses to give him no name, as did Steinbeck with Curleys wife, emphasising how unimportant and worthless he is in the eyes of those that he should mean so much to. His father rejects him outright barely ever acknowledging his presence, He took no outward notice of the boy whatsoever, and when he does it is only as an inferior and one of no consequence as the boy is described as Just one of the neighbourhood. Even his own mother, with whom he has lived for all his years, is unconcerned with him, so obsessed and incensed with her own dilemma that she simply uses him as ammunition, and justification, of her right over others to Lodge. He is used as a spy upon Gertrude and Lodge by his mother, if not that then he is always at work upon one household duty or another, and despite all that he does none of it seems to satisfy his mother. He is barely ever given any affection at all, seemingly only useful for errands and chores that Rhoda cannot bring herself to do. Despite her anger over Farmer Lodges total lack of acceptance of their son, she too does much the same, and never realises the frustrations that he hides underneath as a result of this all, His mother not observing that he was cutting a notch with his pocket knife into the beech-backed chair. The son has no father figure to follow, but certainly not a good example, and his mother tries to set him one no better she doesnt even make the effort. Rhoda develops an obsession with Gertrude whom she has neither met nor even seen. Such is her fixation that one night she is visited in a troubled dream by an image, the distorted and repulsive impression of Gertrude that Rhoda has built up in her mind through her bitter jealousy. The figure thrust forward its left hand mockingly, so as to make the wedding ring it wore glitter in Rhodas eyes. This thing that Rhoda believes Gertrude to be taunts her, thrusting the proof of her marriage to Farmer Lodge before her very eyes the thing that Rhoda herself so covets and desires for herself. As the creature draws closer, Rhoda grips its arm in fright and hurls it to the floor. One day Gertrude visits Rhoda in her small house upon the hill, and Rhoda sees her for what she really is. Gertrude, in her loneliness in Lodges great manor house, comes to Rhoda for companionship, and in her she finds a friend. At first Rhoda is unresponsive, but slowly she begins to come round, to see through all the lies she has told herself all too often in her resentment at being alone. However, all is not to be so perfectly resolved, as we learn of Gertrudes arm the strange marks, like as that of fingers, upon the flesh and over time they gradually worsen and deteriorate. It looks almost like finger marksas if some witch, or the devil himself, had taken a hold of me there, and blasted the flesh. Gertrudes other sorrow becomes apparent as she too has realised the faith that the farmer puts into face value and beauty for she believes that he will begin to love her less if the arm does not heal as it should. As a result, over time, Gertrude begins to preoccupy herself and obsess about her arm as Rhoda did over Farmer Lodge and it continues to worsen. No one understands its nature, no one knows of a cure and Gertrude, stricken with worry and concern, turns again to Rhoda, following perhaps a maids, or a workers, advice, and the irony in this is how many would believe Rhoda to be the guilty party, the witch, cursing upon Gertrude and that she of all people would know her adversary best. Rhoda meanwhile says nothing upon the matter of the arm, merely inquiring upon it, hoping that it might recover. For Rhoda neither understands what effect she has had upon Gertrude, nor knows how she caused it much of the time she vainly tells herself that it is nothing but a coincidence. All the same, Rhoda apprehensively leads Gertrude across the hills and fields one day to Conjuror Trendle, a man renowned for powers that other people believe in more than he. He affected not to believe largely in his own powers and when warts that had been shown him for the cure miraculously disappearhe would say lightly, Oh I only drink a glass of grog upon emperhaps its all chance, and immediately turn the subject. Trendle lives many miles apart from other men, separated by their views and taboos of that society upon witchcraft and anything related. He has been cast away by their prejudices all because he has a talent that they neither possess nor understand, and they fear him for this. He merely uses what he has to help people as best he can, getting nothing but fear and aversion in return, and this he does for Gertrude too. Despite the rumours and whispers that people speak behind his back, he does what he knows to be best all the same rejecting the constraints of society for his own freedom, and in turn having much of it taken away. He shows to Gertrude the image of an enemy, the only one capable of causing such a blight, and Rhodas fears are to be realised as, despite Gertrude never telling her who the image she saw was, she never spoke to Rhoda again, never mentioned the arm and never called around her house, simply looking for a companion, again for now her unseen assailant had a face, that of Rhoda. Over a very short period their friendship began to break down very quickly, almost instantly as realisation had dawned upon Gertrude, and so she never saw anything of Rhoda, or her son, again for many years and eventually the two both slipped out of the community and were never seen again they were forced out by the fears of others, by Rhodas desires of things that were no longer hers to covet and by the entire community, for none really cared. Gertrude was now truly alone and without a single companion- her husband no longer even looked at her, such was his revulsion of the withering of her arm and displeasure at the fact that she had not even managed to produce him an heir in all their time together. Gertrudes beauty was waning as the full anguish of the arm and being so alone in the world assailed her. She became obsessed with the arm and the search for cures, attempting every crackpot remedy that she could find in her maddened struggle but none ever worked or had any effect. Driven into desperation by her husbands and societys demands for young ladies to be beautiful and perfect always, for Gertrude fears the rejection of her husband as Rhoda was rejected many years ago. In many ways this despair and incensed search for a cure drove even larger a void between Gertrude and her husband, for in the end it was both she and the arm driving him away, so obsessed did she become much thanks to the pressures and expectations of the world around her. Again she goes to visit Trendle in the vain hope that perhaps he will be able to cure her at last, however, this time she makes the journey alone showing just how much more lonely and separated from others she has become. Upon arriving she sees Trendle, now an old man and barely able to even leave his house he has lost even that little bit of freedom that life had allowed him and has absolutely no one but himself to rely on, and no one to be there when he dies. In his last days, Trendle tells her simply what had to be done he was too old to help now, she would have to cope alone with this task as always, but he could point her in the right direction. She agrees to all that he tells her, whatever it may be, such is her desire to again be beautiful for her husband again and to allow her to again conform to the views of those around her much the opposite choice to that of Conjuror Trendle. Gertrude must touch the body of an executed man just cut down from a hanging not dead for more than an instant so as to turn the blood of Gertrude and cure the withering of the arm. Finally, after many weeks wait the chance arrives and Gertrudes prayers, driven to wishing upon the death of a fellow man, are answered and she strikes up a deal with the old, isolated hangman, separated from others by the nature of his trade, who was not wholly unused to requests of her sort. The condemned that is to become Gertrudes saviour is a young man, charged of arson the burning down of an old warehouse. The young man was apparently simply in the wrong place at the wrong time, but an example had to be made to satisfy the people. On the allotted night, Gertrude goes to the hangman as planned, and he then leads her to the open casket and she pulls back the covering and touches the figure beneath. To her horror she sees it to be Rhodas own son the son of Farmer Lodge. Gertrude backs off in dismay and turns to discover both Rhoda and Lodge standing behind her. Rhoda shouts in anger and pushes Gertrude away from them both, for even now she still stands between the Farmer Lodge and their son once again as always Gertrude comes between Rhoda and Lodge, always in the way of Rhodas hopes, desires and always keeping her completely alone. Gertrude screams in fear and falls to the floor, for the shock and extreme stress, together with the draining nature of the arm finally get the best of her, for she has died. Her blood had been turned, but all too far. Here the story concludes, as Rhoda moves farther away and separates herself from the local community entirely yet again, totally alone thanks to her own bitterness. Even after her son is lost still nobody goes to pay their respects or offer their company she becomes even more alone than ever, all thanks to her own negligence. Farmer Lodge is also alone now, perhaps as he deserved, for his uncaring and selfish ways led to the grief of many and his dishonesty to the death of his wife for he broke his marriage vows that he made before God In sickness and in health. His wife is dead and his son is lost forever and with him any chance of ever having an heir to all his estate. In his despair Lodge sells all his farm and land and moves away only now do we realise how truly alone he has become, and all thanks to him, his materialism and conforming to what society dictates as to how he should live his life. He offers Rhoda an annual income, as an attempt at a final reconciliation but she never accepts it and none see her again. He loses everything and is doomed to die alone, leaving us later to discover that he has left all that is his to a reformatory for boys, showing how he did have thoughts and feelings regarding his son, but never had the strength to show them which is perhaps his greatest sin. Both Lodge and Rhoda isolated themselves from others and both are now even lonelier as a result of this. Gertrudes vanity may have played a part in her own undoing, represented by the extremes to which she was willing to go as she even wished for the death of a fellow man, guilty or innocent alike, but it was Lodge, and those around her, that drove her to such desperation and in the end she dies alone, above all emotionally, as her husband stands apart from her with Rhoda. The young son meanwhile, brought to his end by Gertrudes desperate wishing is always portrayed in Hardys novel as the innocent throughout, trapped between his two parents never being truly loved or cared for always alone and always innocent. Towards the end we assume that perhaps he has got involved in a youth gang. This leads to his later arrest at the crime scene showing that no father figure and role model at all would have perhaps been better than that of a bad and unloving one who rejects him outright, he may have been innocent but he never had anyone who would stand up for him. This rejection by his father and ignorant negligence on his mothers part leads to his tragic death, similar to that of Candys wife who also remains unnamed as they are never important to those that they should be, leaving both of them completely alone and hopeless. The unfortunate tragedy that we see at the end of each novel is but one of the many similarities between these two novels. As we begin, each story features two central characters, George and Lennie, Rhoda and Gertrude, around which the story unfolds. As they live their lives we are introduced to many others, each with their own individual problems and dilemmas besetting them. These unlikely friendships between our central characters ultimately end in a tragedy, first with one unknowingly causing great problems for the other and finally one must put the other out of their misery, and at the same time condemn themselves to loneliness and hopelessness yet again. In Of Mice and Men we see at the root of everyones problems the desperation to achieve and become somebody to find the American Dream. The society in which they have lived tells them that they are nothing without achievement, and they all agree for much of their sadness originates from this feeling of worthlessness. In George and Lennies case it drives them onwards, in search of their dream, but the others do not have the friendship that they each possess and have no hope of getting anywhere. Candy is old, crippled, with no hope of being able to work for something anymore and no hope of ever actually finding a companion as everyone deserts him each day. Crooks has nobody, he lost everything thanks to American society and the fact that the dream doesnt work if you are black, he is hopeless for all time. Curleys wife, a seemingly dangerous character of this story is isolated for just that. She has nobody bar her husband, who neither loves her nor listens, separated from others by both him and other peoples fear of the stigma that would ensure should they become her friend. She had her one chance at achieving something taken away from her many years ago. For Lennie the necessity to conform and do right by people is too much for him he can never understand and in the end this leads to his death. His fear of disapproval forces him to take a life without ever intending to. It is upon Georges shoulders to end the story, for there is only one possibility he must end all his hopes, condemn himself to being alone with his guilt, every chance that they had together and those around them found upon their arrival for he must take Lennies life to save him from misery. This pressure from American society and the unbending rules on what people should and shouldnt be causes so much dissatisfaction and unrest, leaving everyone feeling hopeless and alone, that they have been brought up to believe. They thought they had a chance, and they found nothing. The Withered Arm, on the other hand, is set in a world of tradition, of British society and its harsh social structure. In everyones mind there is desperation to conform to the rules and agree that unless you are upper class, or in the case of the women married, you are no one. Rhoda isolates herself from all others in her desperation to become someone, Farmer Lodges wife, and be counted and in doing so sentences herself to a life of loneliness, and starts much more for many others. For Gertrude there is a desperation to be what the materialistic views of those around her tell her to be, and in her search for this she ends up isolating her self even more than before. The young son, who nobody ever really looks to care for, there is isolation of a different kind and through no fault of his own. His parents never truly acknowledge him as their son and this ultimately ends in his tragic death. For Farmer Lodge, it is his materialistic conformism that causes many problems, and he isolates himself from all others in this story until the end, where it is he and Rhoda left and doomed to each be utterly alone for their sins.

Themes, Motifs and Symbols for the Twelfth Night Essay Example for Free

Themes, Motifs and Symbols for the Twelfth Night Essay Twelfth Night is a romantic comedy, and romantic love is the play’s main focus. Despite the fact that the play offers a happy ending, in which the various lovers find one another and achieve wedded bliss, Shakespeare shows that love can cause pain. Many of the characters seem to view love as a kind of curse, a feeling that attacks its victims suddenly and disruptively. Various characters claim to suffer painfully from being in love, or, rather, from the pangs of unrequited love. At one point, Orsino depicts love dolefully as an â€Å"appetite† that he wants to satisfy and cannot, at another point; he calls his desires â€Å"fell and cruel hounds†. Olivia more bluntly describes love as a â€Å"plague† from which she suffers terribly. These metaphors contain an element of violence, further painting the love-struck as victims of some random force in the universe. Even the less melodramatic Viola sighs unhappily that â€Å"My state is desperate for my master’s love.† This desperation has the potential to result in violence—when Orsino threatens to kill Cesario because he thinks that Cesario has forsaken him to become Olivia’s lover. Love is also exclusionary: some people achieve romantic happiness, while others do not. At the end of the play, as the happy lovers rejoice, both Malvolio and Antonio are prevented from having the objects of their desire. Malvolio, who has pursued Olivia, must ultimately face the realization that he is a fool, socially unworthy of his noble mistress. Antonio is in a more difficult situation, as social norms do not allow for the gratification of his apparently sexual attraction to Sebastian. Love, thus, cannot conquer all obstacles, and those whose desires go unfulfilled remain no less in love but feel the sting of its absence all the more severely. The Uncertainty of Gender Gender is one of the most obvious and much-discussed topics in the play. Twelfth Night is one of Shakespeare’s so-called transvestite comedies, in which a female character—in this case, Viola—disguises herself as a man. This situation creates a sexual mess: Viola falls in love with Orsino but cannot tell him, because he thinks she is a man, while Olivia, the object of Orsino’s affection, falls for Viola in her guise as Cesario. There is a clear homoerotic subtext here: Olivia is in love with a woman, even if she thinks he is a man, and Orsino often remarks on Cesario’s beauty, suggesting that he is attracted to Viola even before her male disguise is removed. This latent homoeroticism finds an explicit echo in the minor character of Antonio, who is clearly in love with his male friend, Sebastian. But Antonio’s desires cannot be satisfied, while Orsino and Olivia both find tidy heterosexual gratification once the sexua l ambiguities and deceptions are straightened out. Yet, even at the play’s close, Shakespeare leaves things somewhat murky, especially in the Orsino-Viola relationship. Orsino’s declaration of love to Viola suggests that he enjoys prolonging the pretence of Viola’s masculinity. Even after he knows that Viola is a woman, Orsino says to her, â€Å"Boy, thou hast said to me a thousand times / Thou never should’st love woman like to me.’’ Similarly, in his last lines, Orsino declares, â€Å"Cesario, come— / For so you shall be while you are a man; / But when in other habits you are seen, / Orsino’s mistress, and his fancy’s queen.† Even once everything is revealed, Orsino continues to address Viola by her male name. We can thus only wonder whether Orsino is truly in love with Viola, or if he is more enamoured of her male persona. The Folly of Ambition The problem of social ambition works itself out largely through the character of Malvolio, the steward, who seems to be a competent servant, if prudish and dour, but proves to be, in fact, a supreme egotist, with tremendous ambitions to rise out of his social class. Maria plays on these ambitions when she forges a letter from Olivia that makes Malvolio believe that Olivia is in love with him and wishes to marry him. Sir Toby and the others find this fantasy hysterically funny, of course—not only because of Malvolio’s unattractive personality but also because Malvolio is not of noble blood. In the class system of Shakespeare’s time, a noblewoman would generally not sully her reputation by marrying a man of lower social status. Yet the atmosphere of the play may render Malvolio’s aspirations less unreasonable than they initially seem. The feast of Twelfth Night, from which the play takes its name, was a time when social hierarchies were turned upside down. That same spirit is alive in Illyria: indeed, Malvolio’s antagonist, Maria, is able to increase her social standing by marrying Sir Toby. But it seems that Maria’s success may be due to her willingness to accept and promote the anarchy that Sir Toby and the others embrace. This Twelfth Night spirit, then, seems to pass by Malvolio, who doesn’t wholeheartedly embrace the upending of order and decorum but rather wants to blur class lines for himself alone. Motifs Letters, Messages, and Tokens Twelfth Night features a great variety of messages sent from one character to another—sometimes as letters and other times in the form of tokens. Such messages are used both for purposes of communication and miscommunication—sometimes deliberate and sometimes accidental. Maria’s letter to Malvolio, which purports to be from Olivia, is a deliberate (and successful) attempt to trick the steward. Sir Andrew’s letter demanding a duel with Cesario, meanwhile, is meant seriously, but because it is so appallingly stupid, Sir Toby does not deliver it, rendering it extraneous. Malvolio’s missive, sent by way of Feste from the dark room in which he is imprisoned, ultimately works to undo the confusion caused by Maria’s forged letter and to free Malvolio from his imprisonment. But letters are not the only kind of messages that characters employ to communicate with one another. Individuals can be employed in the place of written communication—Orsino repeatedly sends Cesario, for instance, to deliver messages to Olivia. Objects can function as messages between people as well: Olivia sends Malvolio after Cesario with a ring, to tell the page that she loves him, and follows the ring up with further gifts, which symbolize her romantic attachment. Messages can convey important information, but they also create the potential for miscommunication and confusion—especially with characters like Maria and Sir Toby manipulating the information. Madness No one is truly insane in Twelfth Night, yet a number of characters are accused of being mad, and a current of insanity or zaniness runs through the action of the play. After Sir Toby and Maria dupe Malvolio into believing that Olivia loves him, Malvolio behaves so bizarrely that he is assumed to be mad and is locked away in a dark room. Malvolio himself knows that he is sane, and he accuses everyone around him of being mad. Meanwhile, when Antonio encounters Viola (disguised as Cesario), he mistakes her for Sebastian, and his angry insistence that she recognize him leads people to assume that he is mad. All of these incidents feed into the general atmosphere of the play, in which normal life is thrown topsy-turvy, and everyone must confront a reality that is somehow fractured. Disguises Many characters in Twelfth Night assume disguises, beginning with Viola, who puts on male attire and makes everyone else believe that she is a man. By dressing his protagonist in male garments, Shakespeare creates endless sexual confusion with the Olivia-ViolaOrsino love triangle. Other characters in disguise include Malvolio, who puts on crossed garters and yellow stockings in the hope of winning Olivia, and Feste, who dresses up as a priest—Sir Topas—when he speaks to Malvolio after the steward has been locked in a dark room. Feste puts on the disguise even though Malvolio will not be able to see him, since the room is so dark, suggesting that the importance of clothing is not just in the eye of the beholder. For Feste, the disguise completes his assumption of a new identity—in order to be Sir Topas, he must look like Sir Topas. Viola puts on new clothes and changes her gender, while Feste and Malvolio put on new garments either to impersonate a noble man (Feste) or in the hopes of becoming a nobleman (Malvolio). Through these disguises, the play raises questions about what makes us who we are, compelling the audience to wonder if things like gender and class are set in stone, or if they can be altered with a change of clothing. Mistaken Identity The instances of mistaken identity are related to the prevalence of disguises in the play, as Viola’s male clothing leads to her being mistaken for her brother, Sebastian, and vice versa. Sebastian is mistaken for Viola (or rather, Cesario) by Sir Toby and Sir Andrew, and then by Olivia, who promptly marries him. Meanwhile, Antonio mistakes Viola for Sebastian, and thinks that his friend has betrayed him when Viola claims to not know him. These cases of mistaken identity, common in Shakespeare’s comedies, create the tangled situation that can be resolved only when Viola and Sebastian appear together, helping everyone to understand what has happened. Symbols Olivia’s Gifts When Olivia wants to let Cesario know that she loves him, she sends him a ring by way of Malvolio. Later, when she mistakes Sebastian for Cesario, she gives him a precious pearl. In each case, the jewel serves as a token of her love—a physical symbol of her romantic attachment to a man who is really a woman. The gifts are more than symbols, though. â€Å"Youth is bought more oft than begged or borrowed,† Olivia says at one point, suggesting that the jewels are intended almost as bribes—that she means to buy Cesario’s love if she cannot win it. The Darkness of Malvolio’s Prison When Sir Toby and Maria pretend that Malvolio is mad, they confine him in a pitch-black chamber. Darkness becomes a symbol of his supposed insanity, as they tell him that the room is filled with light and his inability to see is a sign of his madness. Malvolio reverses the symbolism. â€Å"I say this house is as dark as ignorance, though ignorance were as dark as hell; and I say there was never man thus abused.† In other words, the darkness—meaning madness—is not in the room with him, but outside, with Sir Toby and Feste and Maria, who have unjustly imprisoned him. Changes of Clothing Clothes are powerful in Twelfth Night. They can symbolize changes in gender—Viola puts on male clothes to be taken for a male— as well as class distinctions. When Malvolio fantasizes about becoming a nobleman, he imagines the new clothes that he will have. When Feste impersonates Sir Topas, he puts on a nobleman’s garb, even though Malvolio, whom he is fooling, cannot see him, suggesting that clothes have a power that transcends their physical function.

The Aims and Objectives of an Islamic Bank

The Aims and Objectives of an Islamic Bank Islamic banking is becoming increasingly popular and plays a prominent role in the financial services sector in Malaysia. According to latest statistics shown, the Muslim population of Malaysia is approximately 25 million. There is definitely a strong demand and strong growth potential in this sector. In Malaysia, the banking sector is mainly dominated by the conventional banking system whereby interest is not being prohibited. It is because the Islamic banking system is relatively new and there are insufficient regulations at present to govern them. If these obstacles are being resolved, the Islamic Banking sector will blossom given the influence of Malaysia in the international Muslim community. The primary aim of this research is to examine and understand in depth the development of Islamic banking in the world of finance. This piece of research can be divided into three sections. The first section looks at significant differences between conventional banking and Islamic banking. Products and services offered by these financial institutions will be marked to comparison. The second section looks at how the practice of Islamic banking started and how it has emerged to become a vial force in the economy. The final part of the research will focus on how the Islamic banks penetrated the Malaysian market and the challenges faced. 1.1 Structure of Dissertation This dissertation is divided into a few topics and each topic covers different areas of research. This is to give readers a clearer view of the research and make it more user-friendly. It is well thought and designed to ensure the smooth flow of the reading. The structure of the dissertation can be summarized as follows: Chapter 1: This chapter describes the aims and objectives of this research. Chapter 2: This chapter discusses the principles and fundamentals of Islamic banking Chapter 3: This chapter explains in detailed the state and scope of Islamic banking industry in Malaysia. I have also mentioned to objectives and roles the Malaysia International Islamic Financial Centre Initiatives plays in the industry. Chapter 4: Research methodologies and strategies that were being adopted for this paper was discussed. Chapter 5: I have marked two Islamic banks in Malaysia for side by side comparison. I have drawn up a table to compare their financial performance and position over the past two years. Chapter 6: I have interviewed two Islamic bankers from Malaysia. On top of that, I have also provided my personal analysis of their answers. Chapter 7: Competition and globalization of the Islamic banking industry. Moreover, I have also discussed opportunities and challenges faced in the world and in Malaysia. Chapter 8: A summary of the paper was included with recommendations and limitations to research. 2 INTRODUCTION So, what exactly is Islamic Banking? Islamic Banking is banking based on Islamic laws (Shariah). The Shariah principles are derived from the Quran and the Sunnah (sayings of Prophet Muhammad). Moreover, secondary sources of Islamic laws such as opinions collectively agreed among Shariah scholars, analogy and personal reasoning are also adopted in the rules and practices of Islamic banks (Al-Omar, 1996). The research then looks at the differences between conventional banking and Islamic banking. There governing principles of Islamic banks are: Riba Absence of interest-based transactions. Charging of interest is prohibited under Shariah principles. Money itself does not have inherent value and should not be used to create more money. Wealth can only be generated through legitimate trade and investment. Ghirar Acts of speculation are not accepted under Islamic principles. For instance, buying goods now at lower price in the hope of selling them at higher price in future. The reason being speculators make private gains at the expense of society at large. Zakat Introduction of Islamic tax for the purpose of wealth distribution so that every Muslim is guaranteed a fair standard of living. Haram It is forbidden for Islamic banks to finance activities forbidden in Islam such as prok meat and alcoholic beverage. In order to ensure that the trading activities do not contradict with Shariah principles, all Islamic banks are required to set up Shariah Committee, who acts as advisor to the banks. On the other hand, conventional banks charge interest on transactions. These interests are widely seen as price of credit. Furthermore, conventional banks focuses on elimination of risks and thus do not share any liabilities with the borrower. (Figure 1) Islamic Bank Vs Conventional Bank Based on Shariahprinciples. Based on best economic principles. Bank should not take advantage of borrower. No interest charged. Charges interest to reflect price of credit. Does not allow involvement in haramactivities such as pork meat and alcoholic beverage. Aims at maximizing profit without restrictions other than compliance with relevant regulatory frameworks. Intoduction of zakat. Non-existence of zakat. Promotes risk sharing between providers of credit and borrower. Interest is assured to providers of credit. No liabilities borne by the bank. Emphasis placed on viability and feasibility of projects. Emphasis placed on credit-worthiness of customers. Only provide guarantee for deposit account (al-wadiah). If funds placed under mudarabah accounts, customers shares profit or loss incurred by bank. Provides guarantee to all its depositors. www.learn islamicfinance.com 2.1 Fundamentals of Islamic Banking Finance Islamic commercial law is based on a few major principles. They will be discussed in detailed as follows: Musharakah (Partnership Finance) Musharakah is a contract in which the bank and the client contribute jointly to the capital of a specific project or deal to make a profit. Therefore, risks of profits and losses are being shared between these two parties according to terms and conditions stipulated in the contract. This principle exposes bank to the risks of the project, in other words protecting the interests of the community. This will prevent banks from yielding their unfair influence and sells disadvantage products to clients. Mudarabah (Trust Financing) Mudarabah is a contract in which the banks provides all the capital required whilst the partner contributes in terms of skills, experiences and efforts. The bank receives a pre-determined share of profits as agreed by both parties upon commencement of the project. The major difference between mudarabah and musharakah is that in this case, the bank bears all financial loss whilst the client goes unrewarded. Therefore, it is also the banks responsibilities to assess the feasibility and viability of the project. As such, it is vital for the bank to have a good and credible credit system to evaluate all its exposures on these projects. In short, this principle encourages individuals to participate in financial activities It also gives individuals without sufficient resources an opportunity and platform to prove themselves in the society. Murabaha (Cost-plus Financing) Murabaha is a contract in which the banks informs their client about the acquisition price of certain goods and products and sells them with a margin. It requires the bank to declare an honest price of acquisition. It is one of the most common principles adopted in Islamic banking system to promote interest-free transactions. It is widely practiced in asset financing and both commodity import and export. Bai-Muajjal (Deferred Payment Sale) It is a contract in which the seller sells a certain goods or products to the buyer at an agreed fixed price to be paid later at a specific date by the buyer. In short, it is a sale on credit. The bank merely acts as the financier by deferring the receipt of the sale price of goods it sells. Ijara (Leasing) In this case, the bank buys capital equipment or property and leases it out under instalment to clients. Similar to conventional leasing, the client has the option to purchase the goods at the end of the lease period. The fact that there is real good to be financed means that it is Shariah compliant. A very common product adopting this principle is Islamic mortgage whereby the buyer buys the property on an instalment basis. Qard Hassan Islamic teachings promote brotherhood amongst Muslims. Qard Hassan is seen as a gratuitous loan that helps fellow Muslims who need financial assistance. It can be defined as a loan to be repaid at a later date without incurring any interests. According to Rob (1992), Islamic banks may raise funds through sale of shares to public and main deposit accounts. Therefore, the bank has a responsibility to lend a helping hand to those in desperate situation without taking of their advantaged position. 2.2 Compatibility of Islamic Banking with Conventional Banking Islamic banking system has very similar features to conventional banking except that Islamic banks operate in compliant to Shariah laws and principles. Both banking systems have common features and common products. The main differences being prohibition of interests being incurred and sharing of profits and losses between banks and their clients (Abdur Rahim, 2009). They have the same objectives except interpretation of interest. Islamic banks fall into realms of the economic world as well. They try to ensure all their operations comply with Shariah laws yet at the same time conform to rules set by international bodies such as International Accounting Standards Board and Audit Practices Board. This is to ensure they remain relevant to the society and at the same time conform to their religious principles. Islamic banks sell products such as mortgages, savings accounts, insurance which is also sold by all conventional banks across the world. According to Nienhaus (1995), Islamic banks offer facilities more or less the same as conventional banks, in compliance with the welfare principles of Islam. 3 LITERATURE REVIEW A literature review is a process in which published articles or information are studied as part of the research for the preparation of a dissertation. For the purpose of this project, I have gathered information from books and articles from various sources. I have studied the concept of Islamic banking, having limited understanding about this topic previously. Further, I have also included discussion about the development of Islamic banking in the world, and in particular, Malaysia. This paper allows readers to have a good grasp of Islamic banking in general. It gives readers the opportunity to study about Islamic banking in greater detail when the interest of this industry gathering strong momentum. This is of particular importance because Islamic banking has a huge impact of the world economy because of the strong influence of the oil-rich Gulf States. 3.1 Introduction Since a few decades ago, Islamic banking has emerged as a new reality in the world economy. Its philosophies and principles are however, not new, having been outlined in the Holy Quran and the Sunnah of Prophet Muhammad (p.b.u.h.) more than 1,400 years ago. The emergence of Islamic banking is often related to the revival of Islam and the desire of Muslims to live all aspects of their live in accordance with the teachings of Islam (Siddiqi, 1983). This chapter provides a brief overview of how Islamic Banking was introduced in the World and how it penetrated the Malaysian market. Islamic banking today has proven to be a popular and reliable financial system in the world. It is widely seen as a viable alternative to the conventional banking system over last 3 decades. Islamic banking was described by scholars as wishful thinking when the idea was first mooted almost thirty years ago (Iqbal and Philip, 2006). Many conferences and discussions were carried out at that time to work on the finer details of this system. Several blueprints were drafted by Islamic scholars from all over the world to ensure a detailed system is created. The first international conference on Islamic Economics was organized by Kings Abdul Aziz University in Makkah marked an important milestone in the history of Islamic banking (Iqbal, 2005). Financial gurus, economic experts and Islamic leaders were invited to present their view and opinions. Following this, the first Islamic bank, Dubai Islamic Bank (DIB) was established in the United Arab Emirates in 1975. Since its formation, it has established itself as the leader in the industry and has won several accolades internationally. In 2009, it recorded net profit of  £200 million with assets worth over  £14 billion. Islamic banking has gained tremendous momentum and has been growing rapidly over the years. Islamic banks now offer products in various areas such as banking, insurance, mortgage and asset management with annual growth of 10% for many years. 3.2 History of Islamic Banking in Malaysia Islamic banking industry in Malaysia is growing at a moderate pace. It is a unique market because Islamic banks in Malaysia are allowed to operate in parallel to conventional banks (interest-based). The multi-ethnic population of Malaysia makes the entire change of financial system to follow the Shariah system not viable. Government of Malaysia opted for gradual way of introducing Islamic banking by allowing conventional banks to sell Islamic banking products and services such as sukuk (Arif, 1989). The dual banking system has been recognised by both West and East leaders and it is seen to be the model of the future. In fact, many central bankers have visited Malaysia to see the effectiveness of this dual system first hand. Furthermore, this dual system also eliminates the wrong concept of general public that Islamic banking products are sold exclusively to Muslims. The history of Islamic banking industry goes back to as far as 1963, when the foresighted government set up the Lembaga Tabung Haji also known as the Pilgrims Management and Fund Board. It was set-up primarily to encourage Muslims in the country to save up on their income in order to perform pilgrimage in Mecca (Kamarulzaman Bhupalan, 1983). Besides, the fund was also created to provide a platform for participation in the economic and investment activities. Based on the success of the Lembaga Tabung Haji, coupled with the consultation of Shariah experts and economic gurus, government then proceeded to set up the first ever Islamic Bank in 1983. Setting up of Bank Islam Berhad Malaysia (BIMB) marked a milestone in the banking industry. It proved to be hugely popular because over half the Malaysian population are Islam followers. What followed through was the listing of the bank in the stock exchange of Malaysia in the early 1990s. As of today, the bank has 100 braches located all ove r Malaysia. With the fairytale of BIMB, central bank decided to allow commercial banks and merchant banks to offer Islamic banking products under the Islamic Banking Scheme. It was not long after that the central bank set up the National Shariah Advisory Council to oversee all issues pertaining to Islamic Banking. Due to the economic liberalisation, central bank finally grants licenses to foreign Islamic banks to operate in Malaysia in 2004. Al-Rahji Bank and Kuwait Finance House took full advantage of this ruling and step foot into the Malaysian banking industry. The last count of Islamic banks operating in Malaysia stood at 21. 3.3 Scope of Islamic Banking in Malaysia Islamic Banking started out as mere deposit taking and lending facility has since transformed into all aspects of banking, money and capital market operations. In Malaysia, the central bank is in favour of a dual banking system, whereby Islamic banks are allowed to co-exist with conventional banks. It is at the consumers choice to select which services they prefer that cater to their needs. This is in stark contrast with the scenario in Iran and Pakistan, where conventional banking system is abolished completely to make way for Islamic banking. They claim to be devoid of conventional interest based financial transactions. Today, the Malaysian Islamic banking sector is blossoming as reflected in the extensive distribution networks comprising 152 full-fledged Islamic banking branches. The ability of these Islamic banks to offer competitive products with attractive and innovative features has attracted both Muslim and non-Muslim population in the country. This has also spurred non banking institutions such as savings institutions to introduce Shariah compliance product to appeal to a wider consumer base. According to Association of Islamic Banking Institutions Malaysia, there are 21 Islamic banks who have subscribed to their membership. The list of Islamic banks is provided as follows: Affin Islamic Bank Berhad Alliance Islamic Bank Berhad Al-Rajhi Banking Investment Corporation Berhad AmIslamic Bank Berhad Asian Finance Bank Berhad Bank Islam Malaysia Bank Berhad Bank Kerjasama Rakyat Malaysia Bank Berhad Bank Muamalat Malaysia Bank Berhad Bank Simpanan Malaysia Berhad CIMB Islamic Bank Berhad EONCAP Islamic Bank Berhad Hong Leong Islamic Bank Berhad HSBC Amanah Malaysia Berhad Kuwait Finance House (Malaysia) Berhad Maybank Islamic Bank Berhad OCBC Al-Amin Bank Berhad PT Bank Muamalat Indonesia Public Islamic Bank Berhad RHB Islamic Bank Berhad Standard Chartered Saadiq Berhad Unicorn International Islamic Bank Berhad As evident from the list above, there are 21 banks offering Islamic products in the Malaysian market. Confidence is clearly shown on the Malaysian market with international banking powerhouse presence such as Standard Chartered group and Kuwait Finance House. The Governor of Central Bank Malaysia recently declared the central banks intention to lure larger overseas banks to provided services that comply with Muslim tenets. As a sweetener to any potential deal, the central bank has raised foreign ownership limits at local Islamic banks and insurance companies to 70%. Rising oil wealth has turned the Islamic banking into an industry with assets with $1 trillion in assets globally. The central bank is doing its utmost, implementing initiatives to explore this relatively untapped market. In addition to the changes in foreign ownership limits, the central bank is also offering tax breaks for Islamic products and has relaxed rules for Islamic banks to trade in foreign currencies (Aziz, 2006). This is seen as a major breakthrough because the foreign currencies dealing is tightly regulated due to the impact Malaysian market suffered in the 1997 Asian Financial Crisis. In July 2010, Khazanah, Malaysia sovereign wealth fund made its debut in Singapore debt market issuing sukuk or Islamic bonds worth $1.5 billion, three times the size of Singapore sukuk market until now. This further strengthened the Malaysian government efforts to promote Islamic banking products both domestically and internationally.