The liberalization of the international financial system Essay

The age of globalization has ensured that businesses are focusing more and more on international trade as the primary means of enhancing their competitiveness. For example businesses en masse are moving their operations offshore to China and India to take advantage of the low cost of operation in those countries. The liberalization of the international financial system has also facilitated the growth of this trend for foreign direct investment. However this investment takes place in more than one form. It can be in the form of money or it can also be in the form of employees. When it comes to relocating employees, the human resource department of the company which is sending its employees abroad must take into account as to how they are going to determine the international compensation system. The scenario under analysis is of that an US national going to Japan to work there as an expatriate. In order to determine what the compensation of the US national should be, the parent company based in the US must take several issues into account. Of course there are some cost categories that will have go into the calculations such as allowances for goods and services, housing, income taxes and reserve. Under the heading of goods and services are the basic needs such as food, clothing, transportation, furniture, recreation etc. An important part of the calculations is also the cost category associated with housing in the host country. There are differences between the income taxes in the parent country and those in the host country and these differences the international pay system will have to take into account. Last but not the least, the parent company has to make significant contributions in the form of reserve such as pension funds, benefits schemes, education taxes, social security taxes etc. So these are the four major elements that will have to go into determining the pay for Robert Lords in Japan. The human resource department of Riordan Manufacturing does not have problems determining what the components of the international pay system will be as they are all specified in the company policy. Usually companies sending their employees abroad in the form of expatriates have to decide between the going rate approach and the balance sheet approach (http://www. rocw. raifoundation. org/management/bba/IHRM/lecture-notes/lecture-21. pdf). According to the going rate approach, the parent company conducts a survey in the host country and develops a grasp of the cost of living in the host country. The approach is basically to match the pay of the parent country national to the host country national. If Riordan Manufacturing were to follow the going rate approach, then it would probably have to hire an international consulting firm to conduct a survey in Japan that would determine what the salary of a Japanese national would be. This is a Japanese national working in the same position with similar duties and responsibilities to those addressed by Robert Lords. However Riordan Manufacturing does not follow the going rate approach. The going rate approach has several disadvantages. For example, managerial salaries in the US are the highest in the world. Therefore, according to the going rate approach, expatriates to China from the US would be given a much lower level of compensation. The nature of the assignment also varies from one country to another. The going rate approach would not take those differences into account but the employees are very sensitive to these differences. In such cases, the application of the going rate approach in structuring an international pay system can result in loss of employee morale. In fact, if the management of Riordan Manufacturing were to follow the going rate approach, it would have a hard time persuading any of its employees to take off to China because Chinese managerial salaries are much lower than they are in the US. The approach followed is the balance sheet approach. The result therefore is one of equity in the international pay system at Riordan. However this equity exists from the perspective of the employees of the company and not from the perspective of the host country nationals. As a result Robert Lords’ pay would not be equitable with the pay of a Japanese national. The balance sheet approach is the exact opposite of the going rate approach in that the company does not have to undertake surveys in the host country to determine what the pay of nationals in that country in similar positions is. Under this system the pay that Lords is going to receive in Japan is going to be exactly the one that he was receiving in the US. Of course there would be a few adjustments to take into account the differences of living in the host country. For example, if the cost of housing in the host country is higher than it is in the parent country, then Riordan Manufacturing would pay for the difference in the compensation to the parent country national. Under this approach therefore, the pay that Lords is going to receive will not be equitable with that of a Japanese national in a similar position. However when Lords comes back to the states, his salary will be readjusted back to its former level and the element of equity will be maintained. What determines equitable pay is a valid question in this respect. Maintaining purchasing power of the expatriate is one measure of maintaining equity. The purchasing power that the expatriate used to enjoy in the parent country remains the same when he moves to the host country. Therefore, the employee enjoys the same level of compensation regardless of the national compensation system of the country he moves to. Managerial salaries in Japan are lower than they are in the US. As a result, Japanese nationals working in a position with duties and responsibilities similar to those relevant to Lords’ position will have lower pay. Previously businesses used to perform within the confines of their own national boundaries. But now, because of globalization, they are operating across national borders. For example, Riordan Manufacturing performs production activities in China. However strategic flexibility still remains the most important concept in achieving a sustainable competitive advantage. In fact it has grown in importance inasmuch as different marketplaces internationally have different factors driving supply and demand. Therefore, the organizational culture of a multinational company must develop passion for strategic flexibility. This is the duty of the human resource department. The human resource department is responsible for motivating employees to behave in a way that will contribute to overall organizational effectiveness. The most effective means of doing that is to design a compensation system that values employee behavior that values strategic flexibility (http://digitalcommons. ilr. cornell. edu/cgi/viewcontent. cgi? article=1164&context=cahrswp). As mentioned before, strategic human resource management has the two options of the going rate approach and the balance sheet approach in designing an international pay system. However none of these approaches are appropriate for promoting strategic flexibility or, in other words, for promoting business practices tailored to the cultural and economic values of the country it is operating in. On the one hand, there is the going rate approach which in Lords’ case would simply calculate the pay of a Japanese national in a similar position and on the other hand there is the balance sheet approach which would simply calculate pay based on what Lords would earn in a similar position in his home country. Both follow national characteristics. The going rate approach follows the Japanese national system while the balance sheet approach follows the US national system. As a result neither of these approaches is geared towards promoting strategic flexibility. If the objective of the management is to develop the kind of compensation system that would emphasize certain characteristics of the national culture that are better aligned with the organizational strategic map, then it would have to develop different compensation systems for different countries. In this respect, the management of Riordan Manufacturing must study the social contract in the Japanese national system and design the international compensation system in a way that stimulates aspects of Japanese culture in employee behavior most suitable for organizational effectiveness. The age of globalization means that a multinational company like Riordan Manufacturing must take into account the different cultural attributes of the country it is operating in. This is because demand is greatly influenced by cultural expectations. Therefore the product that the multinational company is producing must conform to the cultural expectations of the country in which it is selling the product. If it is important for product development to conform to cultural expectations around the world, then it is vital for the compensation system to conform in the same manner. The compensation system lies at the core of the employee motivation system. Previously, compensation consisted of solely financial gains. However financial gain can be easily matched by other companies. In a globalized system of free trade where money can flow from one country to another without friction, merely financial gains are no longer sufficient to motivate the employees to stay with the company. As a result, modern compensation systems emphasize the development of relationship between the employer and the employees. If Riordan Manufacturing is going to move to Japan with its operations, then it must develop that relationship between the employer and the employee and developing that relationship means that the management must carefully study the social contract that governs the organizational culture in Japan. International compensation systems have multiplied in complexities precisely because the measures of organizational effectiveness must inevitably vary from one country to another. The measures of organizational effectiveness have changed. In today’s business world, availability of information is the most important competitive advantage that a company might have. An example of the value of information in enhancing organizational competitiveness is the process of internal benchmarking that has recently been gaining popular support. Internal benchmarking compares the different organizational procedures across operations around the world and prepares a lit of best practices which might be applicable organization wide. A critical aspect in successfully performing internal benchmarking is the tacit knowledge that lies hidden in employees. This is valuable intellectual capital that an organization would lose if the compensation system were to emphasize solely financial gains. In the interests of organizational effectiveness, the management of that organization must make sure that practices are undertaken so that there is minimal turnover in the company. As a result, particularly in developing an international pay system, the management in multinational companies has been introducing an element of choice in their compensation systems. The international pay systems have three levels of pay: one is core which includes cash and basic benefits. Then there are crafted choices such as training, flexible scheduling, base/bonus mix and stock options and finally there are the choices given employees such as assignments, tax deferrals, stock purchases etc. It is in the aspect of crafted choices that we must consider the role that the social contract plays in the Japanese national compensation system. Designing a compensation system in the US and in Japan must necessarily include differing challenges because the cultures in the US and in Japan are greatly different. The Japanese system values the collectivist approach more. Therefore the performance-based or the ability-based approach followed in the US emphasizing individual risk-taking is not very effective in Japan. Group based policies have greater value in Japan. Status is an important aspect of the social contract in Japan. Therefore if the element of strategic flexibility means motivating employees to think and act in the best interests of organizational effectiveness as applicable to the host country, then an American company must design the compensation system applicable to its operations in Japan in a way that maintains employees’ group status. This is an example of the role that the social contract in Japan plays in designing international pay systems. From the above it will be clear enough that designing an international pay system is no longer so simple as selecting between the going rate approach or the balance sheet approach. If Riordan Manufacturing is moving to Japan with its operations then blindly following the balance sheet approach is no longer a feasible approach. The management of the company must do the additional homework of studying the social contract in Japan. An important feature of the social contract in Japan is the lifetime employment contract in Japan where the management ensures job security for the employees. Any American company attempting to design a pay system that is in alignment with the strategic map in Japan must necessarily take the lifetime employment guarantee into consideration. The Japanese management system follows this system because it is an effective means of developing company loyalty. Both the employees and the management have a sense of ownership in the long term performance of the company. As a result, the Japanese compensation system emphasizes the long term rather than the short term in offering bonuses. Rewarding systems in Japan are tied to the long term maximization of market share. The Japanese system also values bonuses more because they are not taxed to the same extent that regular salary is. Trade unions have always had a strong effect on employee benefits. In the US, unionized workers enjoy a greater level of employee benefits than non-unionized workers. However the trade union system in Japan is different because unlike the US, trade unions are formed not industry-wide but on the basis of organizations that the workers are tied to (http://japanhop. com/prosper/070-japanese-labor-unions. html). For example, Toyota employees will form a corporate trade union that is specific to the company itself. In the US, the employees from the auto manufacturers would form a trade union that represents the entire industry. In that respect the social contract in Japan is different. Because trade unions in Japan are company specific, there is a greater level of cooperation between the employees represented by the trade union and the management of that organization. Trade union strikes are rare in Japan and when they do occur, the management and the union cooperate on finding a solution that minimizes negative consequences to the company. Therefore pay systems are not adversely affected by the presence of trade unions formed along corporate lines. There is a minimum wage regulation in Japan that must be taken into account in structuring the international pay system. Mostly importantly, the management of an organization and the trade union of that organization collaborate in designing the salary system of that organization. Such a salary system emphasizes the role of overtime pay which in Japan represents a large percentage of the annual pay. Allowances also are a strong feature of the Japanese national compensation system. These are some of the example of the differences between the American compensation system and the Japanese compensation system that have arisen as a result of the different social contract prevalent in Japan. BIBILIOGRAPHY Workforce (Jan, 2001). Three ways to design international pay: Headquarters, Home country, host country – human resources employment abroad strategies. Retrieved January 12, 2008 from http://findarticles. com/p/articles/mi_m0FXS/is_1_80/ai_69294699. Executive Resources Limited (2002). Compensation, employee benefit, and organizational consultancy. Retrieved January 12, 2008 from http://www. erlimited. com/expatriate_services. php Rethinking International Compensation. Retrieved January 12, 2008 from http://instruct1. cit. cornell. edu/courses/ilrhr769/97_24. pdf Winston J.Brill & Associates (2006). Fundamentals of International Compensation. Retrieved January 12, 2008 from http://www. winstonbrill. com/bril001/html/article_index/articles/551-600/article557_body. html Tokyo Electron (2006). Review of the Dividend Policy and Executive Compensation System. Retrieved January 12, 2008 from http://www. tel. com/eng/news/2005/0419_001. htm Labor Unions in Japan. Retrieved January 12, 2008 from http://japanhop. com/prosper/070-japanese-labor-unions. html Japanese salary systems. Retrieved January 12, 2008 from http://japanhop. com/prosper/080-japanese-salary-systems.html Various approaches to international compensation. Retrieved January 12, 2008 from http://www. rocw. raifoundation. org/management/bba/IHRM/lecture-notes/lecture-21. pdf How Canadian companies are paying expatriates. Retrieved January 12, 2008 from http://www. orcinc. com/ics/download/orc_ics_molnar_cn_05q2. pdf Center for Advanced Human Resource Studies. Rethinking International Compensation: From Expatriates and National Cultures to Strategic Flexibility. Retrieved January 12, 2008 from http://digitalcommons. ilr. cornell. edu/cgi/viewcontent. cgi? article=1164&context=cahrswp.

Globe Telecom Paper Essay

Corporate History Globe Telecom has firmly imbibed itself into the hearts and minds of more than twenty six million subscribers. It has been there in every way for its customers, in building relationships, at work, communicating and reaching out. Inasmuch as Filipinos love to communicate, Globe has been a reliable partner, ready to provide the most convenient and affordable service as possible. For 83 years, Globe has lived up to its reputation of innovation leader – from the moment it introduced the first SMS or text messaging service in the country, and today’s introduction of the first personalized postpaid plans. Globe has been a pioneer in many ways; each new beginning is a testament of its commitment to serving its customers better. In 1928, Congress passed Act No. 3495 granting the Robert Dollar Company, a corporation organized and existing under the laws of the State of California, a franchise to operate wireless long distance message services in the Philippines. Subsequently, Congress passed Act No. 4150 in 1934 to transfer the franchise and privileges of the Robert Dollar Company to Globe Wireless Limited which was incorporated in the Philippines on 15 January 1935. Globe Wireless Limited was later renamed as Globe-Mackay Cable and Radio Corporation (â€Å"Globe-Mackay†). Through Republic Act (â€Å"RA†) 4630 enacted in 1965 by Congress, its franchise was further expanded to allow it to operate international communications systems. Globe-Mackay was granted a new franchise in 1980 by Batasan Pambansa under Batas Pambansa 95. In 1974, Globe-Mackay sold 60% of its stock to Ayala Corporation, local investors and its employees. It offered its shares to the public on 11 August 1975. In 1992, Globe-Mackay merged with Clavecilla Radio Corporation, a domestic telecommunications pioneer, to form GMCR, Inc. (â€Å"GMCR†). The merger gave GMCR the capability to provide all forms of telecommunications to address the international and domestic requirements of its customers. GMCR was subsequently renamed Globe Telecom, Inc. (â€Å"Globe†). Fast Forward It was a monumental partnership in 1993, with then President Fidel V. Ramos as witness to the signing of a Memorandum of Understanding between Ayala Corporation and Singapore Telecom, Inc. (STI), wholly-owned subsidiary of Singapore Telecommunications Limited (SingTel), was formalized, that created a formidable Globe Telecom. During the year, Globe Telecom was catapulted to the status of a giant in the telecommunications industry, and awarded an initial US $30 million supply contract. Since then, Globe Telecom has revolutionized the way Filipinos connect and communicate with the launch of the Globe Handy phone, the country’s first fully digital CMTS (Cellular Mobile Telephone System) using the GSM (Global Systems for Mobile) communications network. It obtained its provisional authority (PA) for International Gateway Facility (IGF) operations and rolled out its fixed telephone service and international direct dial (IDD) services in designated areas. Within a couple of years, Gl obe launched its G-Net service in 1995 to become the first Philippine telecoms carrier to offer internet access. Thereafter, Globe went into acquisition (Islacom) and interconnection agreements with other telecom carriers to boost its network and services. In 2000, Globe joined C2C Cable Network, a fiber-optic submarine cable project in the Asia Pacific region. The following year, Globe inaugurated its first cable landing station and backhaul facility in Nasugbu, Batangas. By 2004, Globe launched the GCASH, a breakthrough in mobile commerce and e payments. In 2009, Globe inaugurated its second landing station in Ballesteros, Cagayan. It also reinforced its best network connectivity with the TGN-Intra Asia Cable System and the first in the country to launch worldwide interoperability for Microwave Access (WiMAX). A breakthrough in mobile and landline service for postpaid subscribers in Metro Manila and Cebu called DUO was introduced. This was later on offered to small and medium enterprise (SME) clients, fulfilling the need for additional business lines at a cheaper cost. Globe also introduced the BlackBerry ® lifestyle to the Philippine market with the BlackBerry ® Storm, powered by Globe Personal BlackBerry ® Plans. Globe was granted the preferential selling rights to the iPhone 3G and iPhone 3GS. This partnership with Appleâ„ ¢ was reinforced in 2010 with the launch of the iPhone 4. Globe Telecom and Visa were recognized as the first two founding partners of the Mobile Money Exchange at the GSMA Annual Mobile Money Summit in Barcelona. Globe Data Center achieved an ISO 27001:2005 certification for having met the Information Security Management System (ISMS) standard. It also received an ISO 9001:2008 certification upgrade for meeting the Quality Management System standard. Boosting its network further, Globe participated in the new Southeast Asia Japan Cable (SJC) System, the highest capacity system in the world that links Singapore, Hong Kong, Indonesia, Philippines and Japan. The company achieved another first by having its Globe Carrier Ethernet offerings certified by the Metro Ethernet Forum (MEF) according to MEF 9 service-provider specifications. Globe also rolled out its second fiber optic backbone network (FOBN2), a high capacity transmission system that spans over 1,900 kilometers of inland and submarine cable, covering most areas of Luzon, Visayas, and Mindanao. Overview Globe Telecom, Inc. is a major provider of telecommunications services in the Philippines, supported by over 5,700 employees and over 786,000 retailers, distributors, suppliers, and business partners nationwide. The Company operates one of the largest and most technologically-advanced mobile, fixed line and broadband networks in the country, providing reliable, superior communications services to individual customers, small and medium-sized businesses, and corporate and enterprise clients. Globe currently has over 29 million mobile subscribers, over 1,363,000 broadband customers, and over 666,000 landline subscribers. Globe is also one of the largest and most profitable companies in the country, and has been consistently recognized both locally and internationally for its corporate governance practices. It is listed on the Philippine Stock Exchange under the ticker symbol GLO and had a market capitalization of US$2.7 billion as of the end of September 2011. The Company’s principal shareholders are Ayala Corporation and Singapore Telecom, both industry leaders in their respective countries. Aside from providing financial support, this partnership has created various synergies and has enabled the sharing of best practices in the areas of purchasing, technical operations, and marketing, among others. Globe is committed to being a responsible corporate citizen. Globe BridgeCom, the company’s umbrella corporate social responsibility program, leads and supports various initiatives that (1) promote education and raise the level of computer literacy in the country, (2) support entrepreneurship and micro-enterprise development particularly in the countryside, and (3) ensures sustainable development through protection of the environment and excellence in operations. Since its inception in 2003, Globe BridgeCom has made a positive impact on the lives of thousands of public elementary and high school students, teachers, community leaders, and micro-entrepreneurs throughout the country. For its efforts, Globe BridgeCom has been recognized and conferred several awards and citations by various Philippine and international organizations. The Globe Group is composed of the following companies: †¢ Globe Telecom, Inc. (Globe) provides mobile telecommunications services; †¢ Innove Communications Inc. (Innove), a wholly-owned subsidiary, provides fixed line telecommunications and broadband services, high-speed internet and private data networks for enterprise clients, services for internal applications, internet protocol based solutions and multimedia content delivery; †¢ G-Xchange, Inc. (GXI), a wholly-owned subsidiary, provides mobile commerce services under the GCash brand; †¢ Entertainment Gateway Group Corp. and EGGstreme (Hong Kong) Limited (EHL) (collectively referred here as EGG Group), provide digital media content and applications; and †¢ GTI Business Holdings, Inc. (GTI), a wholly-owned subsidiary, is an investment company with authority to provide VOIP services. The Company is a grantee of various authorizations and licenses from the National Telecommunications Commission (NTC) as follows: (1) license to offer and operate facsimile, other traditional voice and data services and domestic line service using Very Small Aperture Terminal (VSAT) technology; (2) license for inter-exchange services; and (3) Certificate of Public Convenience and Necessity (CPCN) for: (a) international digital gateway facility (IGF) in Metro Manila, (b) nationwide digital cellular mobile telephone system under the GSM standard (CMTS-GSM), (c) nationwide local exchange carrier (LEC) services after being granted a provisional authority in June 2005, and (d) international cable landing stations located in Nasugbu, Batangas and Ballesteros, Cagayan. Globe is organized along three key customer facing units (CFUs) tasked to focus on the integrated mobile and fixed line needs of specific market segments. The Company has a Consumer CFU with dedicated marketing and sales groups to address the needs of retail customers, and a Business CFU (Globe Business) focused on the needs of big and small businesses. Globe Business provides end-to-end mobile and fixed line solutions and is equipped with its own technical and customer relationship teams to serve the requirements of its client base. Beginning 2011, Globe organized an International Business Group to serve the voice and roaming needs of overseas Filipinos, whether transient or permanent. It also allows the Company to leverage product portfolio on regional and global opportunities. Business Segments Mobile Business Globe provides digital mobile communication services nationwide using a fully digital network based on the Global System for Mobile Communication (GSM) technology. It provides voice, data and value-added services to its mobile subscribers through three major brands: Globe Postpaid, Globe Prepaid and TM. Globe Postpaid includes all postpaid plans such as regular G-Plans, consumable G-Flex Plans, Load Allowance Plans, Load Tipid, Apple TM iPhone 3G plans and high-end Platinum Plans. In 2010, the Company further expanded its postpaid offerings to include MY SUPERPLAN and MY FULLY LOADED PLAN which allow subscribers to personalize their plans, choose and combine various unlimited call, text and web browsing service options. In addition to these personalized plans, Globe has made available various add-on roaming and mobile browsing plans to cater to the needs of its subscribers. In 2011, Globe consolidated its personalized and customizable plan service with the launch of the All New My Super Plan where subscribers are given the flexibility to create their own plans by either subscribing to an All-Unlimited Plan or an All-Consumable Plan. Subscribers also get the chance to design their plans based on their usage by selecting the freebies and add-on services that would come with their subscriptions. To further enhance their experience, subscribers are allowed to change the freebies and add-on services monthly. Globe Prepaid and TM are the prepaid brands of Globe. Globe Prepaid is targeted towards the adult, mainstream market. Its unique brand proposition revolves around its innovative product and service offerings, superior customer service, and Globe’s â€Å"world widest† services and global network reach. TM, on the other hand, caters to the value-conscious segment of the market. In addition to digital wireless communications, Globe also offers mobile payments and remittance services under the GCash brand. GCash is an internationally acclaimed micro payment service that transforms a mobile phone into a virtual wallet, enabling secure, fast, and convenient money transfers at the speed and cost of a text message. Since the launch of GCash, wholly-owned subsidiary GXI has established a wide network of local and international partners that includes government agencies, utility companies, cooperatives, insurance companies, remittance companies, universities, and commercial estab lishments which all accept GCash as a means of payment for products and services. Globe offers various top-up or reloading options and facilities for prepaid subscribers including prepaid call and text cards, bank channels such as ATMs, credit cards, and through internet banking. Subscribers can also top-up at over 786,000 AutoLoad Max retailers nationwide, all at affordable denominations and increments. A consumer-to-consumer top-up facility, Share-A-Load, is also available to enable subscribers to share prepaid load credits via SMS. Globe’s AutoLoad Max and Share-A-Load services are also available in selected OFW hubs all over the world. The Company has a loyalty and rewards program called My Rewards, My Globe for Globe Prepaid subscribers and TM Astig Rewards for TM subscribers. Under the program, and based on a defined scoring system, prepaid subscribers earn points based on tenure and reload. Subscribers can use their points to redeem rewards including Globe and TM products, travel mileage, and gift certificates from leading retail establishments. Globe Postpaid subscribers outside the lock-up period can also earn points based on their monthly billed amounts and length of stay with Globe. Rewards also include Globe products, as well as bill rebates, gadgets, gift certificates, and travel mileage. Subscribers have the option to redeem rewards instantly, or accumulate points to avail of higher-value rewards. Redeemed points in a form of telecom services is netted out against revenues whereas points redeemed in the form of non-telco services such as gift certificates and other products are reflected as marketing expense. At the end of each period, Globe estimates and records the amount of probable future liability for unredeemed points.

Research project Case Study Example | Topics and Well Written Essays - 750 words

Research project - Case Study Example Manufacture and consumption of hard liquor poses a number of threats to the environment. Irresponsible disposing of wastewater can threaten the heath of immediate communities. Equally, this water when directed to water bodies can lead to the death of aquatic life and further contaminate such water making it unhealthy for domestic use (Grant & O’Connor 24). Additionally, emission of gases to the air can lead to formation of acid rain and consequently wilting of plants. Gases emitted during the manufacture of hard liquor can also contribute to global warming. When manufacture of hard liquor uses nonrenewable sources of energy, this can lead to environmental pollution because of waste materials from these sources. For instance, use of coal as a source of energy produces several solid wastes collectively referred to coal combustion waste. It is, therefore, important that companies manufacturing hard liquor adopt sustainable development policies such as use of renewable energy sour ces. Similar to other industries, the alcohol industry has both legal and social responsibilities. Among the legal responsibilities of this industry is environmental conservation. Under this responsibility, the alcohol industry is expected to address issues related with packaging, recycling, shipping, and water usage (Banco 1). Apart from environmental conservation, the industry is expected to address the issue of workers compensation, health, and general wellbeing. More critical to this industry probably is its social responsibilities. The industry’s social responsibilities stem mainly from the effects of unregulated alcohol consumption on the society. Consequently, the industry is expected to demonstrate its efforts toward addressing concerns such as drunk driving, domestic violence, alcoholism, and vandalism (Banco 1). Due to increased pressure by governments and the public, more companies in the alcohol industry are realizing

Ethical Decision Making in Arriving at a Caring Response Research Paper

Ethical Decision Making in Arriving at a Caring Response - Research Paper Example Veracity deals with trust issues of medical practitioners. The first thing a healthcare professional does upon arriving at a caring response in the Memorial Medical Center is to collect the relevant information that clarifies the ethical conflict involving the basic principles of ethical dilemma that a patient is facing. At a caring response, a nurse practitioner establishes the specific ethical conflict or question that a patient is experiencing. At Memorial Medical Center, all medical professionals involved in attending a patient at a caring response must succinctly and clearly articulate the ethical issue in question and answer all the questions that arise. Note that, before resulting to disclose any information regarding veracity issues, it is advisable for a medic to consult the family members of the patient. These decisions may be technical such as cost effectiveness analysis and principle related alternatives such as distributive justice. Following the fact that there may be s ome competing values and goals, ensuring procedural level of fairness becomes the best method of ensuring social acceptance of decisions and moral demonstration of public accountability. In these kinds of situations, a professional health practitioner should not disclose any information regarding the identified ethical problem as doing so is against medical ethics (Kapiriri, et al, 2009). At Memorial Medical Center, after gathering ethical related information, reporting to the relevant parties incorporates two stages. Nevertheless, note that the question at hand must have ethical ramifications just as required by the facility. First, a healthcare professional puts together prescriptive approach information that he or she then goes ahead to report to the relevant bodies. Prescriptive approach is a tool derived from theories of ethics in philosophy and presents health practitioners with an opportunity to use decision-making tools of ethics. In prescriptive approach, healthcare profess ional at MMC gets to exercise modes of thinking when it comes to ethical choices whereby it helps them make decisions that a â€Å"conscientious moral agent† who is a careful and upright thinker about ethical options to make. The second phase of information gathering and reporting involves descriptive approach. In this case, MMC healthcare practitioners incorporates measures included by psychological research in which it defines and describes the actual mode of making decisions ethically as opposed to how they should make a choice (Mitty and Ramsey, 2008). Step Two: Identify the Type of Ethical Problem Even after identifying the possible ethical problem, it is unethical to disclose the information to any other person apart from the required persons. In the example provided by the MMC, identifying the exact problem a patient is experiencing might result to making unethical decisions simply because,

Economics of Organisations TAKE HOME EXAM (Third Writer) Essay

Economics of Organisations TAKE HOME EXAM (Third Writer) - Essay Example The profits rolled in, and Ford's workers shared in the wealth: an ironic beginning for an auto company that would go on to be a notorious enemy of labor in the 1930s and 1940s." At that time, $5 per day was an extremely high wage to pay manual workers in factories such as the Ford facilities. It was hard enough to even have a job in the first place at the time Ford made this major move, so it was indeed a shock. The economy was really in a shaky situation, as it is today. Having a job at all at that time was considered to be very good luck. People who did have jobs worked very hard-much harder than many manual laborers do today. They did not expect handouts from the government, as many of the unemployed in today's world find themselves doing, whether they are in a situation where they can help it or not. Workers back then were tough, and they certainly weren't freeloaders. Back in ancient Rome, welfare ruined the city and actually led to its failure. The government handed out money to a few greedy companies, those companies went under, and the rest of the city went under with them. This is definitely not a scenario one wants to see happen again. It is also possible that, at that time, Ford had a monopoly on the automobile industry and his altruistic nature guided him to share his excess profits with his employees. The root of the $5-a-day Workday was the success of the moving as... According to the work at History.com (2009 p. 1), "After the success of the moving assembly line, Henry Ford had another transformative idea: in January 1914, he startled the world by announcing that Ford Motor Company would pay $5 a day to its workers. The pay increase would also be accompanied by a shorter workday (from nine to eight hours). While this rate didn't automatically apply to every worker, it more than doubled the average autoworker's wage. While Henry's primary objective was to reduce worker attrition-labor turnover from monotonous assembly line work was high-newspapers from all over the world reported the story as an extraordinary gesture of goodwill." The new wage made thousands of manual laborers flock to Ford's manufacturing facilities. People came all the way from all over the United States to Ford's Detroit plant, and they even came from Europe. Employee turnover, of course, practically vanished. According to History (2009, p. 1), "Henry Ford had reasoned that since it was now possible to build inexpensive cars in volume, more of them could be sold if employees could afford to buy them. The $5 day helped better the lot of all American workers and contributed to the emergence of the American middle class. In the process, Henry Ford had changed manufacturing forever." The following shows an announcement of Ford's plans to raise their wages to $5-a-day: Figure 1: Announcement Source: Ford.com References Henry Ford's $5-a-Day Revolution 2009. Ford. Available at http://www.ford.com/about-ford/heritage/milestones/5dollaraday/677-5-dollar-a-day Ford Sets Record Wages 2009. History. Available at

English Law Essay Example | Topics and Well Written Essays - 1250 words

English Law - Essay Example At the risk of gross oversimplification, one can identify the following strategic positions: (A) Practitioners: In this position are all the people who provide services to individuals and institutions who must orient their behaviour toward the law, providing information about the likely outcome of relationships, deals and conflicts that are legally regulated. (B) Law Appliers: These are the positions officially consecrated for making authoritative interpretations of legal norms in concrete situations. It includes not only judges but also arbitrators and administrative officials, among others. (D) Educators: Someone has to socialize entrants, bind the field together and encode its structural constraints. While primary socialization is the responsibility of the schools in almost all legal fields, socialization is a continuing process and workplace influences are often as important as educational ones. (E) Moral Regulators: Legal professions all have systems that police behaviour and ensure conformity of actors: These include formal mechanisms like accrediting bodies, disciplinary boards, promulgators of legal ethics; as well as workplace influences, informal social networks and the like. (ii) Stakes. ... (iii) Capitals. The players in the legal field deploy various forms of capital. These include economic capital, cultural or informational capital (educational credentials, technical knowledge) and social capital (status acquired both outside and inside the field). The main role players in legal professions in England are barristers and solicitors. Academic requirements for qualifications as a barrister now include a degree - though not necessarily a law degree. Traditionally barristers went to the university but commonly studied some subject other than law. In recent decades however, and especially since the Second World War, a law degree has increasingly become the normal mode of entry to the bar. Over eighty percent of those who enter the bar now possess a law degree. Those who do not obtain a law degree must garner one of the limited number of places in one of the courses run by the universities that give instruction for the Common Professional Examination (CPE) - a one year basic law course after the degree course. Limits on student places for those courses are a restriction on entry not controlled by the profession. In 1975, the bar made a degree a prerequisite for entry, except for a special (and tiny) category of mature entrants. This w as the first effective entry barrier to the bar. Students must obtain a satisfactory pass in each core' subject as well as overall. The vocational course for the practicing bar is run exclusively by the Inns of Court School of Law in London. This course is a prerequisite for practice at the English Bar not only in England, but also as an English barrister in any Member State of the European Community. (Those who intend to qualify as barristers, but not practice, may select a different

Marketing Mix Strategy Analysis Of Colgate Toothpaste Research Paper

Marketing Mix Strategy Analysis Of Colgate Toothpaste - Research Paper Example The decision regarding the product purchasing of the consumers in one of the critical aspects by which future profitability of the company is determined. Regarding this aspect, Colgate takes the decision with respect to what types of the product should be offered in the marketplace. Individual product purchasing decisions are based on product quality, physical features. According to individual product decisions, people of Australia choose Colgate toothpaste products in terms of product branding, attributes, labeling, packaging and product support related services. Moreover, it has been observed that Colgate is considered as a well-recognized brand not only in Australia but also all over the world. It has been observed that in Australia, Colgate offers the wide variety of products along with providing different attributes in the products which facilitate it to satisfy the needs of diverse customers. Individual consumers of this market always choose toothpaste brands on the basis of pr oduct features because they are well informed before taking the purchasing decision. It is quite beneficial for the company because it already provides the wide range of product categories along with different packaging styles and designs. In terms of quality and branding, the company has already attained effective goodwill throughout the world as a leading toothpaste brand. Therefore, it is quite convenient for the individual consumers to choose the toothpaste offered by Colgate in terms of quality and features.

Business Law Essay Example | Topics and Well Written Essays - 500 words - 33

Business Law - Essay Example In circumstance 1 (c), private and criminal law suits are involved. They serve a purpose of guaranteeing personal freedoms. This is because carrying guns in public is meant to enable the licensed individuals to secure the freedom of ownership of their assets such as money and cars while in public places. Moreover, violation of the terms of use of their guns leads to disputes between them and their governments. Lastly, in circumstance 1 (d), private and civil laws are involved. They serve the purpose of ensuring social justice. This is because disputes arising between potential employees and their employers would be addressed by private law. Moreover, the civil law ensures that all individuals enjoy equal economic rights hence deserving equal consideration during hiring (Browne et.al, 2). In scenario 2, precedent refers to a principle that had been established in a previous legal case that is persuasive to a court judge when deciding subsequent cases with similar facts. On the other hand, stare decisis refers to the act of abiding to the decided cases (Browne et.al, 4). Precedent will help the judge in deciding whether to close the different business for similar instances of misconduct through examining the applicability of the previously established rule in the current scenario. Correlation between the current and the previous cases will influence the judge to abide by the established rule. As a businessperson, knowledge of case law relevant to my business would help me make decisions regarding a shift of my business location. In scenario 3 (a), historical school of thought would help the judge to recognize the gay partner as a surviving spouse. The school of thought considers past principles established on a particular case to be influential in deciding the current case. Therefore, since there are other States that consider gay partners as surviving spouses the judge can also decide to follow suit. On the other hand,

Professional Development for Elementary Teachers, Team Building for Essay

Professional Development for Elementary Teachers, Team Building for Elementary Teachers and Teachers as Mentors in Elementary Schools - Essay Example One might conclude that under these circumstances, it would be nearly impossible for students to succeed in a Baltimore City Public School. However, the question of how educators can enhance student performance (specifically student test scores and attendance) in public schools has been widely discussed and explored by educational practitioners. In fact, educational reformers have developed different strategies to enhance student performance in public city schools. Empowering teachers both inside and outside the classroom seems to be at the forefront as a key intervention for teachers in public elementary education today (Supovitz, p. 1591). Educational practitioners and researchers alike agreed that teachers can best empower themselves by engaging in different activities like professional development, team-building, mentoring. Such activities would not only empower teachers but they would also improve student performance. Education is a life long process, especially for those who are educators. In the field of education there are always new developments, and for a teacher it's important to be up to date on the knowledge concerning a subject, as well as the most effective teaching methods to ensure that students have the best chance possible to succeed in school. It's important that teachers continue their education to better serve incoming students' needs. Professional development is viewed as a vital part of being a teacher. The most prominent form of professional development is traditional one, but there is also a technology-enhanced one that is becoming more readily available. Team building process of teaching community is to improve the educational system. According to G. Maeroff (1993), 'the nucleus or team would assume ownership of new ideas and learn strategies for implementing them and for winning adherents among their colleagues in the school community' (p. 513). Researchers suggest that education might be improved by the formation of school teams of committed people who are prepared to take risks inside and outside their own classrooms. And Maeroff concludes that 'the greatest value of teams will be as vehicles for bringing improvements to teaching and learning' (p. 519). 'Existing' teachers mentoring other teachers is also an important point to take into consideration. This mentoring uses experienced master teachers who support and assist both novice and experienced teachers new to the district or a particular school. In team frame mentors should be team leaders, committed to professional growth, be confident and caring people. Only in this case it will bring the best results for both educators and students. The teaching environment should follow collaborative scheme, thus providing opportunities for discussion, reflection, and follow-up. Professional development for teachers in public elementary schools Elementary children learning is of strategic importance for both their future and that of the nation. Elementary teachers must be prepared with the knowledge, skills, values and techniques to interact successfully with children, parents, colleagues, administrators, and others who affect children's lives. They must adapt to the interests, learning styles and needs of individual children in a complex, rapidly changing and culturally diverse society.

We 8 CRJ 520II Research Paper Example | Topics and Well Written Essays - 1250 words

We 8 CRJ 520II - Research Paper Example The move towards evaluation of program outcomes has moved from the intent of activities to the actual occurrence of the intended change. The most important stage in program implementation is to determine whether the achievements are taking place in the adopted activities. This is to determine whether there were other factors that contributed towards the occurrence of the change (Hatry, Newcomer & Wholey, 2013). This methodology of assessing whether there were other extra factors contributing to a program’s change is known as SROI (Social Return on Investment). SROI is an evaluation framework that assesses the outcomes of a practice or a program. In order to achieve the intended goals, there are four factors that need to be evaluated. These factors include deadweight, attribution, displacement, and drop off. Deadweight-this is the changes that people expected to take place anyway. Deadweight accounts for any part of change that would happen due to either internal motivations or environmental factors. For instance, the objectives of a certain community program may be to increase job opportunities for the residents. However, a portion of those employed may also get may also get employed due to changes of the labor market. The portion of those counted to could have found a job due to factors other than the activities of the program should not be included when evaluating the program (Royse, Thyer & Padgett, 2010). Displacement- this factor focuses on whether the achieved change resulted in some sort of displacement or unintended costs. For instance, a crime prevention program may be implemented to reduce criminal activities in a certain neighborhood and not displacing such criminal activities in the neighborhood community (Hatry, Newcomer & Wholey, 2013). The value of reducing criminal activities in the intended region would be

Eth125 Stereotypes Essay Example for Free

Eth125 Stereotypes Essay Part I Select three of the identity categories below and name or describe at least 3 related stereotypes for each: Race Ethnicity Religion Gender Sexual orientation Age Disability |Category |Stereotype 1 |Stereotype 2 |Stereotype 3 | |Race |All black people are lazy or |White people are prejudice |Hispanics are all illegal aliens | | |criminals | |and lazy | |Religion |All Christians are hypocritical |All Muslims are terrorists |All Jews are penny pinchers | |Gender |Men are better financial providers|Women can not be successful and |Women are supposed to take care of| | | |independent |all household duties | Part II Answer each question in 50 to 100 words related to those stereotypes. Provide citations for all the sources you use. What are the positive aspects of stereotypes, if any? â€Å"Stereotypes are unreliable generalizations about all members of a group that do not take individual differences in to account.† (Schaefer 2012) Although mostly negative, there is one positive aspects. Such as, positive feedback like â€Å"Asians are very intelligent people† this is something I have heard many times, and from my own perspective and interactions, I find this to be accurate. A negative aspect would be to assume how someone is, without giving them the chance to show their true self. First impressions are important, but not always accurate, and if an individual is stereotyped because of the way they appear, then the chance to meet someone important could be passed up. Jumping to conclusions, lack of information, and not knowing what you could have gained from this different individual or group can be considered a loss. Part III Answer each question in 50 to 150 words related to those stereotypes. Provide citations for all the sources you use. Define stereotypes and prejudice. What is the difference between stereotyping and prejudice? Use examples to illustrate the differences. A stereotype can be defined as an assumption being made about certain typical characteristics of an individual. For example, a young individual who is dressed in all black with tattoos and piercings would be considered someone who is satanic or part of a group that worship the devil. Whereas prejudice being a negative perception and pre-judgment being made on an entire group of people. For instance, a male may be offered a higher paying job and title than a woman with the same qualifications. There are different forms of prejudice and stereotyping, and not all are based on race and ethnic background, it can also be gender, age, sexual orientation, and even socioeconomic status. What is the relationship between stereotyping and prejudice? Stereotyping and prejudice are both forms of judgements being made on individuals or specific groups. Prejudice perceptions often lead to stereotyping, and the only difference is one is an assumption of certain characteristics, while the other will judge all in a particular category without prior knowledge of the group of people. What can be done to prevent prejudice from occurring? Preventing prejudice is a challenge, although as individuals we can change the way our younger generations see other people, but to prevent it as a whole is impossible. If we teach our children that everyone is equal and its okay to be different, then they will teach their children, and so on. Kindness can be contagious. Our society has been this way for such a long time that it almost comes naturally, and as sad as that is, people tend to judge and look down on others different from themselves. It starts with with us and carried on to our younger generations.

Effect of Banking Regulations on Financial Intermediation

Effect of Banking Regulations on Financial Intermediation Introduction Banks have all along played the role of financial intermediaries by channelizing funds primarily from household sector to producing sector and the efficiency and smoothness with which such intermediation is done by banks is one of the prime parameters that determine the economic efficiency and consequent industrial and material progress of a society. Financial intermediation has a cost and that cost is reflected in bank rates and overhead expenditures incurred by banks. Bank rates, however, are not determined in isolation or only from the perspective of profit maximization by the banking sector. These rates are impacted by many other economic and statutory issues pertaining to a particular economy and such issues may vary widely from economy to economy depending upon the administrative attitude towards matters of equanimity in various sectors of the economy, especially the banking sector itself. The general view among experts in this field is that if administrative authorities are in favor of competition, it will lead to the presence of larger number of players in the banking sector that would automatically lead to lower bank rates as competing bankers will vie with each other to attract customers, and will automatically have to become efficient in their functioning in order to stay afloat in such highly competitive environment. So, the economy as a whole would be able to enjoy efficient banking services coupled with comparatively affordable bank rates. However, if entry in banking sector is strictly regulated, it would result in less competition and might also lead to lesser efficiency and almost certainly higher bank rates as the few banks that would be operating in the finance sector would remain assured of clients as the latter would have no option but to approach these few bankers for finance. It must be repeated, however, that these statutory regulations differ so widely between countries and regions that the only plausible method of measuring the impact of such biases and restrictions on bank rates and efficiency would be to consider each instance individually and comparing it with the larger and more generic backdrop of financial efficiency. (Demirgà ¼Ãƒ §-Kunt, Laeven and Levine) Impact of net interest margin and overhead expenditures on Cost of intermediation Cost of intermediation is substantially impacted by net interest margin and it would be worthwhile to study in a little more detail as to the exact characteristics and features of net interest margin. Put simply, the net interest margin signifies the income of banks and it consists of the interest a bank earns by lending money to borrowers and the interest it has to pay to its depositors. The exact measure of net interest margin is obtained by dividing the difference between a banks interest earning and interest expenditure by the volume of interest bearing assets. The net interest margin thus is related to the traditional functions of banking industry accepting deposits at lower interest rates and lending them at higher rates of interest. The overhead expenditure ratio of a bank is calculated by dividing bank overhead costs by the total assets of the bank. It is but obvious that the more inefficient a bank the higher would be its overhead expenditure ratio. But overhead expenditures are not only dependent on pure operational efficiency of a bank. It also depends on the prevailing market regulations and freedom or otherwise for players to leave or enter the banking sector as and when the desire to do it arises. The degree of freedom of entry or exit is, quite obviously, determined by the statutory or law enacting authorities of the country. It might be worthwhile to mention at this juncture that though freedom of entry and exit primarily determines the extent of competition in the banking sector, there are other equally important issues that determine the ability of the commercial banks to offer credit to potential customers. It is proper at this stage to take a closer look at these regulatory issues that influence the quantum of credit that commercial banks can offer to customers and the consequent cost of financial intermediation in an economy. There are two principal instruments to impact the bank regulations and monetary policy that are adopted by central bank of an economy to control the availability of credit in the economy. They are: Quantitative Instruments and Qualitative Instruments These instruments, by restricting or allowing commercial banks to offer loans, actually increase or decrease the overhead expenditures of a banking company. It perhaps needs no elaboration that overhead expenditure ratio will get lower and lower as more and more deposits available to the bank are lent outside. The more it can lend from the deposits collected, the higher will be the proportion of interest bearing assets with respect to total assets and quite naturally, the overhead expenses per unit of interest bearing asset will start falling. Thus every banker in his mind wishes for a regime that is very soft on application of these monetary policy instruments. Quantitative Instruments: These are those instruments of monetary policy which affect overall supply of money/credit in the economy. These instruments do not direct or restrict the flow of credit to some specific sectors of the economy. Important ones are: Bank Rate: The bank rate is the minimum rate at which the Central bank of a country (as a lender of last resort) is prepared to give credit to the commercial banks. The increase in bank rate increases the rate of interest and credit becomes dear. Accordingly, the demand for credit is reduced. On the other hand, decrease in the bank rate lowers the market rate of interest charged by commercial banks from their borrowers. Credit becomes cheap; accordingly, demand for credit expands. The Central bank adopts dear money policy when supply of credit needs to be reduced during periods of inflation. It adopts cheap money policy when credit needs to be expanded during deflation. Success of bank rate policy, however, depends on the following factors: Degree of dependence of commercial banks upon Central Bank for loans: If commercial banks have their own surplus funds which they can utilize during periods of high credit needs, their dependence on Central Bank is comparatively less. Degree of sensitivity of banks demand for funds from the Central Bank: Depending on business conditions, commercial banks may or may not be very sensitive to small variations in bank rate. In such situations, bank rate policy may not be a big success. Structure of interest rates in the money market: If non-banking financial institutions in the market vary their interest rates in accordance with what Central Bank expects from the commercial banks, the bank rate policy may not succeed. Overall supply of funds in the market: Bank rate policy may not be a success if non-banking sources of funds are of greater importance in an economy than banking sources. Open Market Operations: Open market operations refer to the sale and purchase of securities in the open market by the Central Bank. By selling securities, the Central Bank absorbs cash balances from within the economy. And, by buying securities, the Central Bank contributes to cash balances in the economy. Cash balances are high powered money on the basis of which commercial banks create credit. Thus, through open market operations, if cash balances are increased, flow of credit will increase many times more, and if cash balances are reduced, the flow of credit will decrease many times more. Success of open market operations depends on some of the following factors: Existence of securities market: There must be a well organized and properly functioning market for the sale and purchase of securities. In the absence of it, open market operations would make little impact on the overhead expenditures of commercial banks. Reserves with the commercial banks: If commercial banks tend to keep own excess reserves with them, they need not buy securities. This is the standard practice in several developed countries; therefore open market operations under such market scenario would hardly ever be a success. Cash Reserve Ratio (CRR): It refers to the minimum percentage of a commercial banks total deposits required to be kept at the central bank. Commercial banks have to keep with the Central Bank a certain percentage of their deposits in the form of cash reserves as a matter of law of the country. For example, if the minimum reserve ratio is 10% and total deposits of a particular commercial bank is $100 million; it will have to keep $10 million with the central bank. If the minimum reserve ratio is raised to 20%, the commercial bank will have to keep $20 million with the Central Bank. When the cash flow or credit is to be increased in the economy, minimum reserve ratio is reduced, and when the cash flow or credit is to be reduced in the economy, minimum cash reserve ratio is increased. Statutory Liquidity Ratio (SLR): Every commercial bank is required to maintain a fixed percentage of its assets in the form of cash or other liquid assets called SLR. With a view to reducing the flow of credit in the market, the Central Bank increases this liquidity ratio. However, in instances of expansion of credit, the liquidity ratio is reduced. Success of both CRR and SLR again depends on the amount of excess reserves with the commercial banks. CRR and SLR would be rendered meaningless if banks are used to keeping high excess reserves. Qualitative Instruments: These are those instruments of monetary policy that focus on the alternative uses of credit in the economy. These instruments direct or restrict the flow of credit to specified areas of economic activity. Of course some qualitative instruments may have the shade of quantitative instruments as well, but they are broadly classified in the following manner: Margin Requirement: The margin requirement of loan refers to the difference between the current value of the security offered for loans and the value of loans granted. For example, a person mortgages an article worth $100 with the bank and the bank gives the person a loan of $80. The margin requirement in this case would be 20%. In case the flow of credit is to be restricted for certain specific business activities in the economy, the margin requirement of loan is raised for those very activities. The margin requirement is lowered in case the expansion of credit is desired. It is but natural that those banks that have more exposure to industries where the government of the country is unwilling to forward easy credit, will face lesser demand for loans and thus will be saddled with more idle funds and hence the overhead expenditure ratio for those banks would start soaring. Credit Rationing: Rationing of credit refers to fixation of credit quotas by Central Bank for different business activities conducted in the economy. Rationing of credit is introduced when the flow of credit is to be checked especially for speculative activities in the economy. The Central Bank fixes the credit quota for different business activities. The commercial banks cannot exceed the quota limits while granting loans. Direct Action: The Central Bank of a country might initiate direct action against the member banks in case they do not comply with its directives. Direct action includes withdrawal of banking license of the erring commercial bank and disallowing it to continue with banking business any longer. Moral Suasion: Sometimes, the Central Bank makes the member banks agree through persuasion or pressure to follow its directives with a view to controlling the flow of credit. The Central Bank has regulatory authority over all commercial banks and hence these banks generally care for and heed to the advices given by Central Bank with regard to expanding or contracting the flow of credit. If flow of credit is expanded, overhead expenditure ratio of commercial banks comes down and if the flow of credit is restricted, the overhead expenditure ratio of commercial banks goes up. If overhead expenditure ratio goes up, the commercial banks are compelled to increase their lending interest rates in an effort to retain the net interest margin. Selective Credit Controls: It refers to the discriminatory policy of Central Banks in favor of or against certain sectors of the economy. Flow of credit to certain sectors (priority sectors) may be encouraged with a view to stimulating the level of activity in these sectors. This is a positive application of Selective Credit Control. Also, the Central Bank may decide to restrict the availability of credit to certain (non-priority) sectors. Generally, during periods of inflation, availability of credit for speculative activities is discouraged. This is a negative application of Selective Credit Control. Commercial banks falling within the ambit of negative Selective Credit Control usually find it rather difficult to maintain their net interest margin. Market structure-Competition in the banking sector and stability of commercial banks The traditional view is of competition-fragility where it is stated that increased number of players in the banking sector reduces market share of each player and negatively impacts both the net interest margin and overhead expenditure ratio. If such an unrestricted entry in the banking sector is coupled with a spate of deregulation of this sector; banks are handed in a platter the opportunity of taking risks that are at times too high and purely speculative. At times banks have been able to manage such risks, but more often than not, such rash risk taking has ended in a spate of bank failures in countries where simultaneous relaxation of entry norms in banking sector coupled with deregulation of banking activities have taken place. Thus proponents of competition-fragility concept argue against allowing unrestricted entry of willing entrepreneurs in the banking sector. However, of late there has been another school of thought that has gained considerable ground and it takes a contrary stand of competition-stability. The second school of thought does not negate in totality the perceptions of the older school of thought in the sense that it does admit that additional competition indeed reduces market equity that leads to greater degree of risk taking by commercial banks by lending at higher rates of interest to potentially risky borrowers in an effort to shore up the steadily declining net interest margin that gets battered by increased competition in the lenders market. But the new school of thought differs in how the commercial banks would brace themselves against such potential high risk customers. The new theory states that the banks will try to cover their high exposure to risk by opting for more equity capital, sale of loans or credit derivatives or opting for a leaner loan portfolio or some other risk mitigation techniques that are easily avai lable. The dominant refrain in this school of thought is that when the banks are aware of the additional risk exposure on account of increased market competition, they will most certainly undertake risk mitigation measures instead of closing their eyes to the impending danger and pray for a miracle or feel smug under the misleading impression that they are too big to fail. The other observation of experts is that prevailing deposit rate controls are essentially strong and act as sufficient disincentives to banks to try and corner a sizeable number of customers by offering irresistibly attractive rates of interest. These deposit rate controls never allow the commercial banks to cross all limits and behave in a totally imprudent manner irrespective of the extent of competition in the banking sector. The other equally important issue is that a bank can hope to increase its franchise power only if it remains in business for a sufficiently long period of time. Surely no commercial bank would risk its long term future, indeed its very existence by dealing in high risk loans and be out of business before getting any real chance of building up a substantial goodwill. Those in favor of competition-stability theory also attempt to view the issue from an opposite perspective. They argue that if there is less competition in the banking sector the established playe rs, secured in their sizeable volume of market share might get tempted to take irrational risk in an attempt to earn excess profit. The perception that they are too secure and, more importantly, too big to fail may make them a trifle reckless and over adventurous while taking loan risks. These apparently inconsequential loan risks may snowball into crises that may put the entire bank in financial jeopardy. (Berger, Klapper and Turk-Ariss) Recent improvisations in financial intermediation market With the recent emergence of financial futures and options there has been a sea change in the market for financial intermediation which was till recently dominated by banking firms that mobilized deposits or issued insurance policies and channelized resultant funds to producer sector. The financial markets have undergone a complete transformation with an unprecedented growth of bonds and stock markets and the emergence of completely novel financial products as various mortgage backed securities and other securitized assets, as well as derivative instruments such as swaps and complex options. One important observation made by experts in this regard is that these new financial products have almost completely been used by financial intermediaries with households showing practically no interest in dealing with these new entrants in financial market. In fact, there has been a dramatic reduction in the participation of individuals and almost corresponding increasing in the level of participation of intermediaries in financial markets. There has also been a silent but thorough change in the nature of players in finance markets. The market shares of traditional banks and insurance companies have fallen while market shares of mutual funds and pension funds have increased phenomenally. A completely new type of non-banking or non-insurance financial intermediary like GE Capital, that has raised capital entirely by issuing security and not taking any deposits, has emerged on the financial scene. In a natural reaction, banks and insurance companies have also brought in certain perceptible changes in their operations. Banks have discovered that by securitizing loans it becomes possible to remove them from the liability side of their balance sheets. Insurance companies have also started shifting from actuarial functions to providing newer and more growth oriented products. It has been observed that a dramatic reduction of individual participation has been almost simultaneous with an increase in better opportunities for individuals to operate in market. This nails earlier theories that financial intermediaries prospered as it is difficult and expensive for an individual to conduct activities in financial market. The truth perhaps lies in the idea that financial intermediaries have actually evolved in becoming really efficient risk managers of both individuals and corporate entities and have an extremely important role to play in economies of future. (Allen and Santomero) Conclusions The Bank regulations can explain the cost of financial intermediation. It has the statute of limitations and regulations on banking activities. These rules can regulations the freedom of bankers to conduct business, and improve the banks net interest margin. From the bank stability, firms access to external finance, bank valuations and financial development. From these points to shows the characteristics centralized control of banking sector and the inflation rate. The more important is the Institutional rules and regulations, market structure. Governments ownership and business cycle fluctuations both these factors can impact the Cost of Financial Intermediation. The impact of market structure is from the competition. Lowering the price to increase the market share and reduce the Cost of Financial Intermediation. References Allen, Franklin and Anthony M. Santomero. The theory of financial intermediation. Journal of Banking Finance 21 1998: 1461-1485. Berger, Allen N., Leora F. Klapper and Rima Turk-Ariss. Bank Competition and Financial Stability. J Financ Serv Res 2009: 99-118. Demirgà ¼Ãƒ §-Kunt, Asli, Luc Laeven and Ross Levine. Regulations, Market Structure, Institutions, and the Cost of Financial Intermediation. Journal of Money, Credit and Banking, Vol. 36, No. 3, Part 2 June 2004: 593-622. Diamond, Douglas W. (1984). Financial Intermediation and Delegated Monitoring. Review of Economic Studies 51, 393-414. Levine, Ross (2003). Deny Foreign Bank Entry: Implications for Bank Interest Margins. In Bank Competition, edited by Luis Antonio Ahumada and Rodrigo Fuentes. Santiago, Chile: Banco Central de Chile, forthcoming.

Portrayal of Women in Media

Portrayal of Women in Media Are We Seeing Increased Sexualization of Women in Media? Feminists argue that popular media contributes to coerciveness and sexual assault toward women as seen by the dominant presence of violence against women in all forms of media (Linz Malamuth, 1993). Adolescents have been resorting to popular entertainment for information about sex, drugs, alcohol and violence (Kaiser Family Foundation, 1999). Their preference for the more popular and accessible music videos has provides them with such information. Analysis of Music Television (MTV) has shown that men appeared nearly twice as often as women and engaged in significantly more aggressive, dominant behavior and women were shown as engaging in more implicitly sexual and subservient behavior. They were depicted to be frequent objects of explicit, implicit and aggressive advances by men (Sommers-Flanagan, Sommers-Flanagan, Davis, 1993). It is usual for women in these videos to be used as decorative objects, and only a few videos show men and women are treated equally (Vincent, Davis Borus zkowski, 1987). One study of media and sexuality revealed that exposure to MTV among college females was the most powerful predictor of sexual permissiveness (Strouse Buerkel-Rothfuss, 1987). Likewise, in video games, a more sexist orientation and graphic violence against women is getting prevalent. Overall, content in various media such as television, video games, music videos communicates that women are to be objectified, sexualized, dominated, assaulted and even killed (Bretthauer, Zimmerman Banning, 2006). Evolving Standards of Women’s Beauty Standards of women’s beauty keep on changing, with more recent standards emphasizing body proportions that are not normally seen on everyday women. Cusumano Thompson (1997) studied standards of women’s beauty in magazines over a 20-year period. In Playboy magazine, the models were considered to epitomize the ideal female body shape. Bust and hip measurements as well as weights of the centerfolds were taken in the span of 20 years (1959-1978) and mean weight of the centerfolds was observed to be signify antly lower than the average female for the same time period. Another observation is a decrease in the centerfolds’ bust and hip measurements as the heights of the models increased over the 20-year period. Consequently, an increase in the number of diet articles was seen in a number of women’s magazines also in the same time span (Cusumano Thompson, 1997). Along with this, there was also a significant increase in the areas of weight loss, beauty, fitness a nd health. Fashion magazines contained more health and fitness articles than traditional magazines. In terms of body measurements, Thompson and Tantleff (1992) found that women’s ideal breast size to be larger than their own current size. On top of that, women’s and men’s concept of the societal ideal breast size was found to be even larger than the women’s ideal size. This implies that media may have promoted images fostering discrepancies between current and ideal perceptions of societal ideal sizes (Thompson Tantleff, 1992). Print Media Sex sells. That is something being propagated by media. Hence in all kinds of media formats, images of alluring ladies showing much of their skin are being presented together with products being sold in the belief that the product will be more saleable. Magazines, in particular, have significantly increased the amount of sexual content not only in exhibiting sexualized women’s images but also offering explicit sexual advice (Kim Ward, 2004). The message being conveyed by contemporary magazines with more a liberated nature is that sexually assertive women are prized creatures and if women want to be considered as such, they should follow the advice in the magazine articles. This is a time when the sexuality of young girls is being presented in an exploitative manner. Sexual agency and desire is highly promoted to them. In magazines like Cosmopolitan, though, women’s sexual agency and aggressiveness are promoted within the confines of a relationship (Durham, 1996). What is ironic is that there is a strong emphasis for women to be sexually active to please men, but not overtly sexual, as they still need to make men feel in control. They are expected to be sexually attractive to men in a way that promotes sexual desirability, but should keep their own desire concealed as they need to be pursued and not to be the predator (Durham, 1996, 1998; Garner et al., 1998). These magazines, then, can be seen as part of a ‘cultural apparatus that purports to assist women to be heterosexually attractive, to be coy, alluring, â€Å"sexy,† and flirtatious, in order to â€Å"find true love† and to â€Å"catch a man,† and then to maintain his interest’ (Overall, 1999, p. 298). Mass media’s dominant representation of women is that they exist for men’s satisfaction of their sexual fantasies (Wood, 1994). Cleo and Cosmopolitan magazines encourage women to be as ‘sexual’ as they can be, making them available to satisfy men’s sexual fantasies and desires. Although being able to provide sexual satisfaction for men may be a source of pleasure and power for women, it also reflects that women are reliant on men for their own self-image and power (Machin Thornborrow, 2003). Thus, repeatedly reading articles on how to give pleasure to men may promote women’s insecure sexuality (Farvid Braun, 2006). Sex is promoted as a way to keep a man interested in a woman enough to stay in a relationship. Farvid Braun (2006) observe in Cleo and Cosmopolitan magazines that the ability of some women to provide great sex to men is essential in fulfilling not only men’s sexual needs but women’s relational needs as well. Cleo magazine advocates women to leave an impression where it counts†¦ in bed. These magazines project an image of men as potential cheaters and great sex can keep them from straying. That is why women are advocated to learn the art of sexual pleasing to keep their men faithful. Krassas, Blaukamp Wesselink (2001) conclude that women’s magazines communicate a paradoxical perspective of female sexuality in that women are encouraged to shed their traditional roles and become more independent while they are pressured to find and sexually satisfy a man. Women’s bodies are considered commodities and their independence allows them to use such commodities to their advantage and to maximize their market value (Goldman, Heath Smith, 1991). Krassas, Blaukamp Wesselink (2001) also note that Cosmopolitan magazine may be the first to recognize women as sexual, at the same time, they are primarily sexual objects whose desire is fulfilled by allowing themselves to be treated as commodities that are sexually available to men and designed to attract men. How Women are Depicted in Advertising Erving Goffman (1979) has studied positioning of women in advertisements and concluded that it mirrored their role in society. Goffman identified the model’s gaze to be important and suggested that women are usually sights to be gazed upon. How the woman is positioned in pictures have accorded meanings. Stereotypical poses such as the model gazing away from the camera and seem o drift off may be categorized as â€Å"licensed withdrawal†. Goffman describes a pattern in which women more often than men are pictured as â€Å"removed psychologically from the social situation at large, leaving them unoriented in it, and presumably, therefore, dependent on the protectiveness and goodwill of others† (Goffman, 1979, p. 57). Gestures suggesting licensed withdrawal are covering the face, sucking or biting fingers, averting one’s head or eyes, shielding oneself behind an object or person, and leaning for support against another person. Contrarily, when the model gazes into the camera, it is an â€Å"engaging gaze† engaging the viewer with a seductive look (Frith, Cheng Shaw, 2004). Goffman’s category of â€Å"feminine touch† most often depicts women lightly caressing an object while men are depicted as grasping or using an object. Women are portrayed as more likely touching themselves such as resting their fingertips on their chin or neck (Goffman, 1979). Conveying a â€Å"conventionalized expression of sexual availability† (Goffman, 1979, p. 41), women are often pictured reclining on a floor or a bed, or canting a head or knee at an odd angle that can be read as an â€Å"acceptance of subordination, an expression of ingratiation, submissiveness, and appeasement† (1979, p. 46). Other observations of Goffman regarding pictures of women and men together include men positioned as bigger or higher in the frame than women. This communicates differences in social status and dependency of women on men. Also, men are often portrayed as performing a function whereas women are merely decorative (Goffman, 1979). Women’s bodies have been used to sell several advertised products. Walsh-Childers (1996) observed that photos of women in advertising usually focused the reader’s eye on women’s body parts such as the breasts. Soley and Kurzbad (1986) also observed that more and more sexual content became manifest since the mid-1980’s as female nudity and erotic content became commonplace in contemporary U.S. advertising. Ms. Magazine published advertisements that increasingly portrayed women as sex objects in its first 15 years of publication. After it no longer ran such ads, Ms. Magazine upheld a position that explicitly embraced feminist orientation and spurned advertisements which were insulting to women. Ms. magazine â€Å"established itself as an institutional prototype for the appropriate conduct of advertising to women† (Ferguson et al., 1990, p. 41). Still, with this supposed precedent of championing for women in advertising, there persist ads depicting wom en as sex objects (Krassas, Blaukamp Wesselink, 2001). Cultural Differences in the Portrayal of Women in Media Women ‘s depiction in media varies depending on their cultural background. Predominantly, women from western cultures are depicted to be more sexually open and less inhibited in showing their bodies and being associated with more sexually-suggestive themes. Frith, Cheng Shaw (2004) contend that in western cultures, women have acquired rights to display their bodies in public without fear of retribution or condemnation. These women have also claimed their right to take pleasure in their bodies. However, in the Middle East and in many parts of Asia, women are expected to dress modestly and demurely (Cheng, 1997). Portraying women as classic beauty types with â€Å"demure† dress across cultures is shared by Eastern and Western cultures. When it comes to portraying women as sensual or sexy beauty types, though, a noticeable difference emerges. More often, such beauty type is used with western models suggesting that advertisers across cultures present western models as more sexually liberated than Asians (Frith, Cheng Shaw, 2004). The message conveyed is that western models are seen more as sex objects than Asian models. On the other hand, Asian models more likely portray the cute/girl-next-door beauty type (Maynard Taylor, 1999). One outcome of depicting women in such childish manner is diminishing their standing in society as full-fledged adults, thereby pitting them less than their male counterparts. Representations of women as strong, professional and independent individuals may be threatening to men, and since patriarchal ideology is mostly upholded in certain countries, advertisers avoid such portrayal of women (Frith, Cheng Shaw, 2004). In terms of women’s roles, in Sweden, they are frequently portrayed as professionals while in the US, they are used more as â€Å"decorative† elements. Biswas et al. (1992) reported that sex appeal was used more often in French advertising than in the US. Asian women are usually represented as actively working while US women are seen as relaxing at home. For example, Sengupta (1995) observed that in print advertisement, Japanese women were more likely to be shown as â€Å"cooking, cleaning and doing other household chores† (p. 329). However, in Japanese advertising, when women were portrayed in their professional roles, it is more often as entertainers or actresses (Cooper-Chen, 1995). Maynard Taylor (1999) also observed young Japanese models posed as â€Å"cute† or â€Å"girlish† (smiling and giggling), whereas Western models were posed with more serious expressions depicting a more defiant and independent image. This reflects various portrayals o f women as they are seen in their culture. Swedish society may see women as capable professionals. American culture may view women as embellishments to lives made better by men. They may be the recipients of their men’s compensation for hard work as they are shown enjoying life and occupy themselves in remaining beautiful. In Japan, women are seen as lower class citizens compared to men, and this shows in their advertisements. They are portrayed as domesticated and dependent on their men as compared to American women who are portrayed to e more independent. A model’s â€Å"gaze† in ads communicates various messages to readers. Samovar, Porter Jain (2001) claim that intercultural communication researchers found that in Asian cultures, direct eye contact is considered aggressive and unfeminine. However, in cultures such as Singapore and Taiwan, women models tend to look directly at the camera. This may be credited to prevailing standards of appearing attractive or it may suggest photographic conventions led by women’s liberation movement in Western industrialized countries to depict women as confident and expressing themselves with direct eye contact (Frith, Cheng Shaw, 2004). Hovland et al. (2005) conducted a study that found many Korean women experiencing dilemmas between the Westernized ideal images of women conveyed in women’s magazines and their own expected traditional roles in their culture. Western values promoted such as competition, freedom, professionalism and individualism challenge traditional Korean values of harmony, obedience and collectivism. This shows how American magazines can be powerful in unsettling readers’ when they read articles that have ideologies that may not agree with their own. It is interesting to note that American contemporary women’s magazines such as Cosmopolitan magazines have such a wide reach that traverses various cultures and locations, so the ideologies they present may be interpreted in various ways. Contemporary American women’s magazines use a limited range of races of its models. These magazines target a market that is predominantly Caucasian and may not expect to target other races . This may be viewed as ethnocentric (Hovland et al., 2005). Ironically, Asian women’s magazines adopt Western images in their advertising. In both American and Asian magazines, the use of Black models is not too frequent and this may be indicative of the adoption of the Western emphasis on the predominance of a White or European beauty standard (Hovland et al., 2005). Increased Sexualization in Popular Modern Music Genres Heavy metal music, described as the overtly violent and sexually explicit segments of rock and roll music (Lynxwiler, 1988) earned the wrath of Parents Music Resource Center (PMRC) and targeted a media campaign against it (Gore, 1987). The organization portrayed heavy metal music as dangerous to young minds because it emphasized the use of drugs, encouraged adolescent sex, endorsed sexist/ pornographic values, instrumental in delivering occult messages and caused violent, lawless behavior (Markson, 1990). Such claims created much controversy that it received national attention when Congressional hearings were held to determine if indeed heavy metal albums and other forms of popular music must be evaluated for their influence in proliferation of â€Å"porn-rock† in the United States (Gray, 1989). The hearings did not produce great changes however, more and more organizations concerned with â€Å"child victims† such as conservative parental, religious and feminist groups pushed for the regulation of heavy metal music (Bayles, 1994). Still others began their own uprising against rap music (Binder, 1993). Jones (1997) claims, that as a matter of definition, rap and hip-hop music are often used interchangeably. However, Powell (1991) defined hip-hop as the beat of the music and rap as the narrative representation, the talking over the beat. Hence, the use of explicit violence and sexual lyrics may be blamed down to rap. Powell (1991) described â€Å"commercial rap† as hip hop or dance rap. Hardcore rap, or gangster rap is the one that raises much controversy. Researchers have suggested that hip hop and rap music, rooted in Black culture can be tools through which Black youth may negotiate their identities to develop an authentic Black identity (Clay, 2003). They see the music as reflective of their lives and to assert that music relates to empowerment, cultural connection and positive identity development (Sullivan, 2003; Berry, 1994). Critics of hip hop and rap, however, have argued that Black youth may be very susceptible to the influences of hip hop role models who promise money, power and status to men who show disrespect for women (Squires, Kohn-Wood, Chavous Carter, 2006). Mahiri and Conner’s (2003) ethnographic study of African American middle school students manifested resistance in the negative images emanating from rap and hiphop. This study suggested the use of rap and hiphop images related to social and gender roles as a point of reference from which participants could verbally evaluate, compare and contrast their own beliefs and attitudes. Adolescents in the study of Squires, Kohn-Wood, Chavous Carter (2006) believed that certain women can be â€Å"nasty† and may â€Å"choose† to be abused, and that abusive men may be products of their environment. Still, they showed dissatisfaction with the representations of Black men and women in hip hop. Their criticisms revolved around women’s individual behavior and style and how outsiders might stereotype Black men as thugs for emulating hiphop fashion. Such perceptions of gender roles based on hiphop seemed to extend to the participants’ evaluations of women’s and men’s responsibility and choices with regards to real world sexual aggression and violence (Squires, Kohn-Wood, Chavous Carter, 2006) The problematic aspects of rap music is usually focused on its most acrimonious strain which is gangsta rap. Narratives in such strain are extremely troubling in their glamorization of violence,, materialism, misogyny and sexual transgression (Mahiri Conner, 2003). However, Dyson (1996) argued that the vulgarity expressed in gangsta rap are strongly linked to dominate cultural constructions of â€Å"the other’ and market-driven strategies for rampant economic and human exploitation. Therefore, Dyson noted, the debate about gangsta rap should be situated in a much broader critique of how these narratives essentially mirror ancient stereotypes of Black identity and sexual proclivity through the society’s circulation of â€Å"brutal images of black men as sexual outlaws and black females as â€Å"ho’s† (1996, p. 178)

The American Dream in Sinclair Lewis Babbit :: Sinclair Lewis, Babbit

"Do as most do, and men will speak well of thee." [Thomas Fuller (1654-1734):Gnomologia] Men have a dream to improve their lives and better their social status but each man does not realize that he pursues this dream in hopes of pleasing others and not for his own well being. Fuller's quotation demonstrates that people find success and social mobility if they act and do what others want them to do. The American dream of success and happiness can not be reached independently because people need to feel accepted to achieve satisfaction. Each man strives to improve his place in the community oblivious to the hypocrisy around him. Everyone works to impress others rather than pleasing himself. Paralleling Fullers quotation, Sinclair Lewis' Babbit is a satirical portrayal of a man in search of himself enveloped by a society of hypocrisy . George F. Babbit, a middle class man, struggles to find social mobility and beatitude. Babbit overlooks the essential items of life and concentrates his attention towards material goals and impressing the upper class. Due to the loss of his best friend, Babbit realizes his life has no meaning and rebels against society's conformity destroying his reputation. Lacking the courage to be independent, Babbit's dream of true ecstasy crumbles when he succumbs to hypocritical lifestyle realizing that he needs conformity. Strongly influenced by a sanctimonious society, Babbit, a man in search for himself, realizes that he needs conformity to live. Babbit dreams of improving his status in the community, not realizing that hypocrisy is influencing every decision or action he makes. Babbit concentrates his time and energies towards activities and events that impress the upper class. His life revolves around material items and goals. Mr. and Mrs. Babbit host a dinner party, only inviting the utmost respectable couples. They plan a "highbrow affair†¦with evening clothes required" in hopes of impressing their prosperous guests. The evening is filled with meaningless conversation and the men tell crude and unsophisticated jokes. Everyone seems to be having a wonderful time even though there is no real meaning in the evening. Shortly afterwards Babbits "name and face" become noticed throughout the city. In another attempt to impress the upper class, Babbit delivers a stirring speech and suddenly finds that he has become one of the most "popular and well-known figures" at the convention. Babbit's dream of improving his position is coming true, although Babbit is oblivious to society's hypocrisy. From a solid citizen, Babbit becomes an important citizen and volunteers his services as an orator for a political campaign.

Essay on the Use of Chiaroscuro in The Scarlet Letter -- Scarlet Lette

Use of Chiaroscuro in The Scarlet Letter  Ã‚      Nathaniel Hawthorne the author of The Scarlet Letter uses the literary device of chiaroscuro to effectively develop his characters.   Hawthorne was born in Salem, Massachusetts in 1804 to a prominent family.   His father passed away on a voyage when he was four years old.   His relatives recognized his talent, and they helped pay his way to Bowdoin College.   Hawthorne and his classmates became the most prominent people in America at that time.   He had many strong ties with important people from attending Bowdoin, such as:   Henry Wadsworth Longfellow and Franklin Pierce.   In 1828, his first novel, Fanshawe was anonymously published at his own expense.   In 1842, he befriended Transcendentalists Ralph Waldo Emerson, Henry David Thoreau, and Bronson Alcott, and married Sophia Peabody, an active member of the Transcendentalist movement.   In 1846, he was appointed surveyor of the Port of Salem where he worked for the next three years, being unable to earn a living a s a writer.   He wrote The Scarlet Letter in 1850, showing the Puritans as hypocrites fixated on sin.   This romance was an immediate success, even though it received many criticisms for its risquà © topic.   In the novel The Scarlet Letter, Hawthorne effectively uses chiaroscuro to develop the personalities of Hester Prynne, Pearl, and Arthur Dimmesdale.   Hawthorne uses chiaroscuro to show Hester Prynne as a woman whose sin has overtaken her, and made her impure.   One example of this is:   â€Å"The mother’s†¦medium through which were transmitted to the unborn infant the rays of its moral life; and however white and clear originally, they ... ...  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In the novel The Scarlet Letter, Hawthorne effectively uses chiaroscuro to develop the personalities of Hester Prynne, Pearl, and Arthur Dimmesdale.   Hawthorne uses chiaroscuro to show the depth of Hester’s guilt and strength of bearing her sin and Arthur’s secret.   Pearl is characterized as radiant through Hawthorne’s vibrant descriptions of her beauty.   He uses the sun to depict the purity of Pearl.   Hawthorne uses shadows to show how Arthur is a meager man compared to Hester, also bearing the sin.   Hawthorne shows Arthur deteriorating from his guilt, while Hester pushes herself to live on and try to overcome it, still always bearing its weight and pain.   In conclusion, chiaroscuro is effectively used by Hawthorne to develop the personalities of his characters.