Marketing the Nintendo free essay sample

Relating relevant marketing theories to different aspects of Nintendo’s marketing scheme. Discussing how Nintendo are attempting to influence, modify or impact the consumer’s behaviour in particular. 3. Organisation and Product Overview Nintendo Co Ltd was founded 1889 in Kyoto, Japan; by Fusajiro Yamauchi. This company would eventually go on to develop and release this generations most successful gaming console; the ‘Nintendo Wii’. Originally the company produced and marketed a playing card game called Hanafuda. Becoming quite successful in this area the company eventually enlisted on the Osaka stock exchange in 1962 and continued to push further into the Japanese toy market (developing an assortment of toys over the time period). In the 1970’s Nintendo started introducing electronic technology to the Japanese toy industry; culminating in 1976 with the release of the first home television game (‘Colour TV Game 6’). The Nintendo as we know it today had been born. Nintendo have released many electronic hardware and software over the years; uilding up a strong relationship with the consumer along the way. We will write a custom essay sample on Marketing the Nintendo or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page With its release of countless gaming consoles and characters that have obtained icon status throughout the world, Nintendo is now a recognised name throughout the world. By observing the company history we can see how through constant successful releases Nintendo has nurtured a strong brand loyalty from its consumers. Introduced in 1985, ‘Nintendo Entertainment System’ was an instant hit; almost single-handedly revitalising the video game industry. Selling over 60 million units, this product introduced consumers to the names Mario and Zelda for the first times. Following the success of the NES, Nintendo released the iconic Game Boy in 1889 (a hand held gaming system). Although the screen was only 4 shades of grey, the device defined portable gaming and was extremely enjoyable. â€Å"Game Boy is the most successful video game ever†¦ selling over 150 million copies worldwide† (History-Nintendo, retrieved on 20/5/11 from http://www. nintendo. com. au/index. php? pageID=13). The Game Boy would see itself continually innovated over the years. However Nintendo didn’t ignore its home gaming consoles during this time, endeavouring to release more powerful gaming consoles, starting with the 16 bit ‘Super Nintendo’ (released 1991) and its successor the ‘Nintendo 64’ (released 1997). With the N64 setting new standards in realistic gaming. With the N64’s success leading the way for the Nintendo’s ‘Game Cube’, this was the first Nintendo product to utilise disk technology instead of cartridges. The ‘Game Cube’ was the final step that led to the development of the Wii. With each predecessor (both home and portable consoles) adding tiny bits of consumer information, consumer loyalty/base, technological advancements and company experiences to its development. The Wii was conceived in 2001, around the same time the ‘GameCube’ was first seeing release. Shigeru Miyamoto (co designer) stated in an interview that the concept involved focusing on a new form of player interaction. The consensus was that power isnt everything for a console. Too many powerful consoles cant coexist. Its like having only ferocious dinosaurs. They might fight and hasten their own extinction. (The Big Ideas Behind Nintendos Wii, retrieved on 20/5/11 from http://www. businessweek. com/technology/content/nov2006/tc20061116_750580. htm). It was conceived as a cheap, more easily accessible, fun gaming system. Designed for a broader audience; opposed to its main competition the Xbox 360 and PlayStation 3. The Wii was designed with some differences to its predecessors and competitors. The main difference is in the controller. Wii utilises a wireless, motion detection controller that resembles a television remote control. This was decided to allow more adults and non-gamers to enjoy the Wii; as the motion capture aspect allowed all ages and experience levels to pick up a controller and point, swing or slice away. This technology eventually leading the way for the ‘Wii Fit’ product range; which in itself is a huge success. Another difference is in the price, with Wii only costing $250 US up against the $500-$600 price for competition consoles. Since its launch, the sales numbers of the Wii have been higher than its competitors around the world. With the Wii selling more units in America (first half of 2007) than the Xbox 360 and the PS3 combined. (Nintendo the big winner, PS3 dead last for the first half of 2007); with this lead even larger in the Japanese market. As of April, 2011, Nintendo announced they had sold 86. 01 million Wii consoles. (Nintendo: Wii successor coming in 2012 retrieved on 20/6/11 from http://news. cnet. com/8301-13772_3-20056950-52. tml) With Nintendo’s huge customer base, reputation for high quality products, creation of iconic names (Mario Donkey Kong ect. ), history of innovation and understanding of their new broader target market, it is no surprise that the ‘Wii’ has been as successful as it has been. 4a. Theory 1 – Wii marketing in relation to Maslow’s Hierarchy of Needs Maslow’s Hierarchy of Needs is a human motivation theory that is based around the p sychology of consumers as individuals with ongoing or enduring wants and needs. The theory aids marketers and producers in determining what goods and services satisfy various ‘levels’ of human requirements, with five basic levels of needs that rank from low too high in priority (Refer Appendix A). (Schiffman, 2011). 4b. How does this apply to Nintendo Wii? Nintendo’s Wii is a product that can be associated with the requirements of physiological needs, social needs and esteem or ego needs. Physiological Needs * Health and fitness * Education * Competition and Entertainment The invention of the Nintendo Wii is about getting gamers off the couch and expanding gaming for greater use in our daily lives, particularly with the development of the Wii Fit which allows for a fill workout and attainment of weightless/fitness goals. Brain-training games, language games, musical games and sports/fitness games have been able to challenge consumers across a range of physiological and cognitive skills (Nintendo 2006). The marketing of Wii was aimed at promoting the benefits of its use, for entertainment in collaboration with the psychological benefits and entertainment factors. The ‘newness’ of this design means that intrigue was prominent in capturing and maintaining people’s attention and desire to try the new retail. A major landmark in marketing was also created when Nintendo launched its ‘Ambassador Program’ which was a trial for the Wii where people could give feedback on its use. This program involved multigenerational families, hard-core gamers and modern Mums hosting their closest friends and families in a social event that broadened the horizons of their target market (Surette 2006). Marketing the Wii within households as a ‘necessity’ was aimed at the physiological needs section of Maslow’s Hierarchy, attempting to show that this product is able to fulfil aspects of everyday life for its consumers. Nintendo also ensured that the gaming console was made affordable to consumers, with packaged bundles ranging from $250 – 500 depending on the accessories required (Nintendo Article). This meant that the product was not segregated to being purely a ‘luxury’ item, and places it in an achievable bracket when analysed in Maslow’s theory. Social Needs * Inclusion, importance of the affiliation need Love, affection and happiness * Interaction and relationships building The creation of Wii brought forth a new identity and experience to gaming, making the use of the product accessible to people of all ages and for purposes beyond entertainment. The Wii incorporates both physical and cognitive activity in its games, reaching a wi de variety of interests. The Wii also allows multiple players to be involved in the game at any one time, which is repeatedly demonstrated in its advertising campaigns, affiliating it with the ‘social needs’ in Maslow’s Hierarchy; where we show the want for ompanionship, inclusion and interaction. A primary example of Wii utilising our intrinsic need for ‘belonging’ as a part of the marketing of Wii can be seen in television advertisements featuring popular Australian family the McGrath’s playing active and seemingly enjoyable games on Wii Sports as a bonding session. This was a part of Nintendo targeting both gamers and non-gamers to this new technology, bringing an experience where without the barriers of age or previous experience (Nintendo Thinkbox 2011). The development of social and cyber networks in conjunction with ownership and playing of the Wii helped to create a ‘community’ of interest, once more building on the need for belonging for its members. The promotional strategy by Nintendo to make Wii Sports a standard purchase with all Wii’s differentiates it further from major competitors in PlayStation, whereas substitutable goods, the Wii works out cheaper with games and console pricing. The Wi-Fi connection on the Wii, also allows consumers to play online against friends, creating more interconnectivity and affirmation of social needs (Wii Article). Ego Needs * Inward or outwardly associated with self-esteem * Self-evaluating, Achievement * Image Association In Maslow’s Hierarchy of Needs, the ‘Ego Needs’ emulate from feelings of achievement, satisfaction with the association with an image and an overall connection with either inward or outward self-esteem through successes. Gaming products are an entertainment device which works on the premise that individuals will want to improve over time and gaining satisfaction out of doing so (Rogers 2004). This can be linked to the feeling of ‘prestige’ in the ego needs, with the Wii specifically allowing its users to self-evaluate their progress, such as in the game ‘Wii Fit’ where consumers are able to monitor their fitness and health gains from using the game. These health improvements and the image association of the ‘class’ of the Wii brand can also lead to improved self-esteem for the consumer (Schiffman, 2011). Nintendo has used its products differentiation from the norm of gaming products (which are standardised by fixed controllers) and variety of self-improvement games to increase its market share. Wii sampling events including gaming hours, retail midnight and music tours created hype around a range of games and benefits in accordance with this notion (Janiszewski 2010). Studies have shown particularly that adults and the older generation are a growing share of the market with the ageing workforce, and tend to look for more emotional outcomes or ‘being experiences’ leading to self-realisation and actualisation when purchasing new goods and services (Goodhead 1991). The positioning of Wii products as a gateway to experiences encourage purchasing for this purpose, making will span from one extreme of Maslow’s Hierarchy to the other. 4c. Conclusions and Recommendations Nintendo launched the Wii marketing campaign with a distinct aim to â€Å"involve non-gamers [and] expand the market† (Fils-Aime 2006) in the phenomenon of this new and innovative device. The main problem with the hierarchy in analysing the products connection to the target market is that it can’t be tested empirically so there is no way to measure when one need transfers across to the next. However, Wii can currently only be connected with three of the five levels of the pyramid, giving potential for new initiatives in marketing campaigns to expand upon this. The way that Wii has been marketed thus far has set is aside from its major competitors in PlayStation and Xbox, sticking to the motto that â€Å"playing is believing†, keeping Nintendo Wii as the actively involving gaming console (Janiszewski 2010). The future of the Nintendo Wii would be best benefitted from maintaining the successes of its hand-promotional campaigns, and continuing with expanding this niche market which has enthralled consumers globally. a. Theory 2 – Wii marketing in relation to Emotional Appeals As defined by Schiffman, Emotional motives are those that â€Å"imply the selection of goals according to personal or subjective criteria† (2011). There are feelings associated with this type of marketing such as â€Å"adventure, fear, romance and status† (Mortimer, 2008) ju st to name a few. It has become apparent according to research conducted by Mahjan and Wind that marketing to the emotion of an individual is on the rise; especially consider that not all purchasing decisions are made logically. Therefore it has become a key component of advertising today to be able to connect on an emotional level to the average consumer as well as to get them to purchase the product in question. The Nintendo Wii has been one of the highest selling game consoles in history, surpassing its main competitors, Microsoft’s Xbox 360 and Sony’s PlayStation 3. In the discussion below we will discuss how Nintendo has been able to use the emotional appeals approach to connect with their audience and been very successful in doing so. 5b. How does this apply to Nintendo Wii? The Wii has been one of the largest users of advertising that uses emotional appeals as of late. Because the Nintendo Wii is not your typical product that the average consumer would buy because it is not one that requires a straight forward â€Å"rational approach† (Mortimer, 2008). Instead it requires a much more emotionally based decision. It requires us to not listen to that voice of reason that is rational motives and in the case of the example given by Mahjan and wind â€Å"just do it†(2002) the logo for the sporting brand Nike. We don’t specifically know what ‘it’ is but it compels our emotions to do something that makes us feel better. One such example of the Nintendo Wii using this approach that was named earlier in this paper was the television commercial that shows the McGrath Family, one of Australia’s most prolific sporting families, enjoying themselves in the comfort of their home, playing video games on the Nintendo Wii. The advertisement has very little information involved with it but it does however invoke the emotions so that a consumer can be thought to believe that this make me feel better, focusing on Maslow’s hierarchy of needs, in particular a consumers increased self-esteem (Schiffman, 2011). This example is shown to be following the trend that the â€Å"Messages are becoming more vague while the emotions are becoming more vivid† (Mahajan and Wind, 2002). Other examples of celebrity endorsement for the Wii include Olivia Newton-John, Dame Helen Mirren and Rebecca Gibney. Another example of Nintendo using emotional advertising would be on their international website â€Å"www. wii. com â€Å" (Nintendo, 2010), on the website it show a group of at least 3 or more people sitting around a Wii while one person participate in a game. This exemplifies Maslow’s hierarchy of needs, in particular â€Å"social needs† (Schiffman, 2011) which is a very large motivator for emotional advertising. An example of this is given by Schiffman et. al. when discussing physiological arousal. He states that â€Å"television programs can generate physiological arousal†. When the consumer see’s the commercial, there needs are aroused and in this scenario, their needs are that they need to belong and their thought process makes them think that purchasing a Wii may help them with belonging, whether it would be in a group or in society in general. Due to this already successful approach involved with the sales of the Nintendo Wii. It is obvious to see that this approach with celebrity endorsements and emotionally motivated commercials is working very successfully with their sales as they have surpassed the 2 million units sold mark in Australia in 2010 (Salter, 2010). Another advertising campaign that has been utilised successfully by Nintendo Wii is the reintroduction and reinvigoration of their original titles back into their video game selection due to the Wii’s â€Å"planned obsolescence† (Mahajan and Wind, 2002). This allows for â€Å"continuity in the relationship† (Mahajan and Wind, 2002) as such. An example is Intel, a very successful company that specialises in software chip manufacturing. Just because the product may change, it does not mean that the effect has to as well. Intel have realised this through the consistent use of â€Å"its ‘inside Intel’ branding, along with a distinctive set of musical tones and cool looking, clean-room-suited representatives†(Mahajan and Wind, 2002) and because of this consistent approach, Intel have been quite successful. 5c. Conclusions and Recommendations Nintendo have been one of the market leaders when it comes to emotional appeals. Their market share as well as their advertisements alone, put them apart from any other competitor at this stage, however as more of their rivals start to adapt to this style of advertising, they will need to learn to be able to change their strategy in order to remain a power within the market force. 6a Theory 3 – Wii marketing in relation to Involvement theory Involvement theory focused on how advertisements or brand could stimulate to individuals personality makes link to its. Involvement has been used commercial ad on TV and paper, the early involvement theories relate to advertising and consumer behavior combined concept from research called as split brain theory. According to research, the left hemispheres of the brain ‘specialized’ in the sorts of information they process, it has roles that primarily cognitive activities such as reading, speaking and attribution information running. On the other side, the right hemisphere is that also responsible for non-verbal, timeless, pictional and holistic information. (Leon schiffman). It was discussed that activities such as watching commercial ad on TV were fairly passive minimally involving and were controlled by right side, on the other hand, such as reading print media were more involving and were controlled by left side on brain. (Herbert E,Krugman). In other words, the left side is more likely rational, active and realistic. The right side is emotional, metaphoric, impulsive and intuitive. Consumer involvement is now recognized well as an usual, or motivating, factor that drives consumer influences consumer are making decision whether purchase this product or not. There have four types of involvement level; †¢High involvement / rational †¢High involvement / emotional †¢Low involvement / rational †¢Low involvement / emotional 6b. How it relates to Wii? Wii now competed against several video consoles such as Xbox, play station in market area. In compare to those feature between PS3 ,Xbox and Wii, both PS3 and Xbox the main difference is use their own pad for using it while Wii uses remote controller which can be used as a handheld pointing device and detects movement in three dimensions. Next picture shows to customer make them attraction of wii, but also it shows to how Wii works. The available activity is that main difference against other consoles. Wii targets widely even who aren’t big fan of video games because Nintendo expects that they wanted to bring new consumers, not only sell to limited game users so that they focused on Wii strives to stimulate to customer leads play Wii. Generally thinking of playing game, it used to referred aspects of bad sight, Wii is that more easily to use to people more widely age. The main type of involvement involved in a Wii purchase is High Involvement/Emotional. Although not as expensive as a car or holiday in which most High involvement purchases are associated, the Wii is still expensive enough and has enough competition that it does involve high involvement from its consumers. Wii’s marketers make a point to highlight the differences in their product and its competitors to appeal to the high involvement involved in making a purchase between the 3 big gaming consoles on the market (PlayStation and Xbox being the other two). Their advertisements appeal to the emotional side of high involvement. Showing the social aspect of Wii in almost all of their ads ( which feature up beat music and bright colours) and also showing the social responsibility and the feelings of becoming healthier with their ‘Wii Fit’ product range. Their website has a huge amount of information on it. Showing features, upcoming additions, games, and many more things that appeal to the high involvement buyer. Nintendo does its best to make the gaming experience a family orientated decision and likes to inform all members of the family of the benefits they could receive from purchasing a Wii. This also appeals to the emotional side of the consumer through family. 6c. Conclusions and Recommendations Wii still holds a huge advantage over its competitors with emotional involvement and also through our research we found also gives a lot more information on their website as opposed to its main competitors. If you could find fault with their advertising is that it’s stayed the same for the past 3 years and with the introduction of similar products from tis competitors it has lost a bit of its advantage in being different therefore its high involvement style of marketing could begin to be not as effective.

Signs youre stuck in the rat race

Signs youre stuck in the rat race We’ve all heard the phrase rat race before- it refers to a seemingly never-ending, pointless, and even self-defeating pursuit, and it’s often used when referring to one’s job or career. Individuals who are stuck in the rat race are unhappily going through the motions in life, trudging through the daily grind of their workday feeling unfulfilled, unchallenged, and uninspired until they go home at the end of the day- only to repeat the whole process again. Individuals who are stuck in the rat race are more than just unhappy- they’re actually negatively affecting their health and well-being. According to a recent Forbes article, individuals who hate their jobs face some serious consequences, including increased risks for stress, sleeplessness, illness, and mental health issues. An article by The Atlantic  even goes on to suggest that workplace unhappiness can shorten your lifespan!Obviously, individuals who are stuck in this unfortunate situation have every good reason to try and get out of it. Are you one of them? The truth is, sometimes people get so busy and wrapped up in the responsibilities and activities they have going on in their daily lives that they fail to take stock of their current situations. You may very well be stuck in the rat race and not even know it!Use the following signs to determine if you need to make some changes to your daily life.1. Your energy and enthusiasm levels are low.Are you like the energizer bunny when you get up in the morning? Do you go through an average workday full of â€Å"get up and go† enthusiasm for what lies ahead? Or maybe you’re more like a wilted flower or droopy basset hound who practically needs to be dragged through the day, and can’t wait to get back home so you can†¦lie around and do absolutely nothing. We all have good days and bad, but if more often than not you’re facing each day with a real lack of energy and enthusiasm, that’s a good sig n your stuck in a rat race and may need a change.2. You’re stuck in the past.Do you spend more time thinking about â€Å"past glories† than future opportunities? Do you gladly reminisce about days gone by and what you have done at the expense of what lies ahead and what you will accomplish? Individuals who are stuck in the rat race avoid thinking about the present and the future as a protective mechanism- keeping them from having to confront an unhappy reality or an uncertain tomorrow. If this sounds like you, you might just be stuck in a rut.3. You lack purpose.Folks who are in happy places in their lives are fueled by a sense of purpose and gamely tackle each day, along with the challenges and goals they’ve set for themselves. Those stuck in less fulfilling situations? Not so much. And it’s not hard to imagine the vicious spiral this creates, leading you to accomplish less and less as the days drag on. Don’t get stuck in a rat race spiral!4. Youà ¢â‚¬â„¢re noticing changes in your health and wellness.We’ve already touched on this one- when you’re stuck in the grinding gears of the rat race you’re going to experience a negative effect on your health and well-being. The ravages of stress, tension, sleeplessness, anxiety, and more will begin to gnaw away at you- and you’ll notice it. Tack on to this that people stuck in the rat race often make poor diet and exercise choices and it’s easy to see that this is a road to ruin.5. You feel powerless to effect change or think there’s nothing better out there for you.One of the real tragedies of being stuck in the rat race- as if we haven’t mentioned enough of them already- is that it robs you of the very ability to see a way out of it. It’s common for those stuck in a rut to feel that there’s simply no way out or have such a negative raincloud following them that they can’t even fathom that there’s something better out there. It’s not a good place to be.If after reading this you’ve realized that you’re stuck in the rat race and are starting to worry or panic- take a deep breath. It’s always better to know the truth and it’s never too late or a bad time to figure out where you are with your job situation- good or bad- and make a change!

An Effective Speaker Paper Comparison Critique of 2 Famous Speeches Essay

An Effective Speaker Paper Comparison Critique of 2 Famous Speeches - Essay Example Steve is the most appropriate speaker for the Stanford audience, because of his experience in the technology field, for which the university is renowned. In the course of delivering his speech, Steve Jobs adopts a conversational approach. This is particularly evident when he reminisces about how he founded Apple, Inc with his co-founder, Steve Wozniak. Instead of referring to his partner with his full name he states â€Å"Woz and I started Apple.† This statement evokes a mental picture of two close allies and it is a good choice of words. This is especially because the audience comprises of graduates, who often perceive the ceremony to be a point in time when close friends diverge perhaps never to meet again. Steve also utilizes a simple and customary delivery approach. This is evident throughout the fourteen and a half minutes long speech. For instance, he summarizes his entire speech using four simple phrases; first he states that he will narrate three stories to the audienc e. He then outlines the three narrative topics as â€Å"a story about connecting dots† (0.23), â€Å"a story about love and loss† (5.32) and finally â€Å"a story about death† (14.33). ... This serves to ensure that the audience gets sufficient time to assimilate the information. For instance, at the end of his first story about backward connection of dots, Steve poses for about six seconds when he says â€Å"even when it leads you off the well-worn path†¦ and that will make all the difference† (5.18). The pause is intended to ensure that the audience acknowledges the importance of exploration and persistence. Steve’s relatively casual opening, his conversational delivery approach, simplicity and use of pauses in the course of the address, are all attributes that make his speech effective. These are all features that resonate with the principally young audience. They are also attributes that enable him to effectively convey his primary lessons on mortality, the importance of individuals loving their work and the essence of courage in following one’s intuition. However, the speech is not without few flaws. The first and most notable flaw is tha t, Steve constantly reads from his transcript and hardly maintains eye contact with his audience. This denies him the chance to fully connect with the listeners as shown by their occasional disinterest. The other outstanding fault is the speaker’s partial fail at comedic delivery. For instance, when Steve states that â€Å"I didn’t even know what a pancreas was† (10:07), he delivers the line in passing and does not even pause to relieve the audience’s tension. Another example is when he says â€Å"No one wants to die. Even people who want to go to heaven don’t want to die to get there† (11:40). However, the partially failed attempt at humor could be attributable to the speaker’s effort to imitate academic oration; to evoke empathy from listeners, or to emphasize the magnitude of

Write an exemplification essay on the qualities of an effective

Write an exemplification on the qualities of an effective teacher - Essay Example in class; they have to strengthen these qualities and, finally, work on developing the qualities that they do not have since these qualities may affect the learning process of their students. An effectual instructor has to be exceptionally well prepared. This ensures that the teacher’s work in preparation for class is done on time and in such a way that students will be able to understand what their teacher is discussing. Furthermore, the teacher will have to be able to teach his students in an organized manner, which means that they will get more from him than if he had not been well organized. The teacher will have to be able to anticipate the questions which his students are likely to ask after the discussion and will have to answer these questions effectively. Therefore, it is a fact that a well-organized teacher will be able to cover more with his/her students than a teacher not se well organized. A teacher has to be in every way supportive of his/her students. This leads to the development of trust between the teacher and the students, and due to this, the latter will be more receptive when in class. As stated above, every student has unique abilities and it is up to the teacher to encourage the development of these abilities to ensure that there is more diversity in class. In this way, students with different abilities will be able to share their knowledge with each other, and this will bring about richer learning environment. A teacher has to be persistent with his/her students. There are certain students who require a persistent teacher to develop interest in learning. It is, therefore, important that the teacher maintain his/her persistence in encouraging such students to take an active interest in their education even though such students may be stubborn. If such students need special help, then the teacher should be patient enough to provide such help or, if he/she cannot do this, then he/she should ask a person more suited for the task to do so.

Minimum Wage in the United States Essay Example for Free

Minimum Wage in the United States Essay A minimum wage is the lowest hourly, daily, or monthly wage that employers may legally pay to employees or workers. The debate over minimum wage in the United States has been ongoing for over 100 years. It is a hot topic in labor, human interest, and especially in economics. Is the minimum wage too low? Is it too high? Should we have one at all? Does having a minimum legal wage help those who it is intended to help, or does it actually make them worse off? Theses questions are asked on a daily basis by interested parties. While there may not be one definitive correct answer, there are compelling arguments on both sides of the issue, and those who represent their â€Å"side† are passionate about their opinions. This is one of a few social topics about which people are generally not indifferent. Much of the adult workforce in the United States has worked a minimum wage job at some point in their career, so we can easily relate to the challenges that face today’s minimum wage workers. This paper is not intended to solve the debate over minimum wage, nor will it attempt to persuade the reader in one direction or the other regarding what should be done concerning minimum wage. The pages that follow will present a brief history of the minimum wage debate in the United States, and then present some of the arguments offered by both sides of the debate. A Brief History of Minimum Wage Although New Zealand was the first country to formally enact minimum wage legislation in 1896,[i] the United States was one of the first major industrialized nations to set a national wage floor for their workers. For decades during the industrial revolution, workers in the United States endured work environments that consisted of long hours, dangerous working conditions, and low wages. Small movements to develop a national minimum wage by labor unions and activist groups were met with predictable resistance from business people, and ultimately struck down by the U. S. Supreme Court. [ii] Finally, in 1938 President Roosevelt and Congress passed the Fair Labor Standards Act. This act was intended to alleviate some of the poor working conditions that mostly women and young children were subject to. Additionally, this act imposed a federally mandated minimum wage of $0. 25 per hour, with some exceptions. [iii] There have been subsequent pieces of legislation that continue to address and improve workers’ rights since that time, focusing more on quality of life issues rather than eliminating abuses by employers. Additionally, individual states now have the right to enact their own minimum wage, so long as it is no lower than the federally mandated minimum wage. Since 1938, the national minimum wage has been raised 21 times, most recently in 2009, and is currently $7. 25 per hour. Today, more than 90% of countries in the world have some sort of wage floor for their work force. [iv] The Case for Minimum Wage Those in favor of a minimum wage argue that it increases the standard of living of workers and reduces poverty. [v] Those workers that are paid minimum wage are unskilled laborers, perhaps first entering the job market. Without any marketable skills, the worker needs some protection that they will be paid a fair rate that will enable them to be self-sufficient until such time that they have learned a skill or trade that will allow them to work their way up from the low wage jobs. Without a minimum wage, employers would have significantly more market power than the workers – a monopsony – and that could result in the intentional collusion between employers regarding the wage they will offer. [vi] Absent this protection, workers would be forced to accept the artificially low wages, resulting in a very low quality of life. Additionally, the argument can be made that paying a â€Å"livable† minimum wage incentivizes workers to not only get a job, but to work hard to keep that job. When minimum wages are significantly greater than payments received through a social welfare system, people are rewarded for their hard work. If a person could receive an amount close to what they would earn at minimum wage through the welfare system, what motivation would they have to work the minimum wage job? In contrast, if workers are paid an amount that is considerably more, they will find and keep work. This serves another purpose, to decrease the cost of government administered social welfare programs by getting people off of welfare and onto payrolls. Another common argument made by those in favor of the minimum wage is that it actually helps to stimulate spending, improving overall economic conditions. [vii] The theory behind this argument is that low wage earners typically spend everything they make. Whether on necessities or luxury items, minimum wage earners are likely to spend their entire paycheck. If there were an increase in the minimum wage, the people who would receive the pay increase would turn around and spend their new money. This would help to cover the costs of the increased wages as many businesses would see an almost immediate return through increased sales. While this argument seems to make sense, it must be clarified that no empirical evidence to support this claim could be found. Another argument made is that an increase in minimum wage helps to improve the work ethic of those who receive the increase. The implication is that if their employer is forced to give them a raise, they will be compelled to work harder to improve their efficiency and increase their productivity in return. Again, there is no evidence to either support or refute this claim, and opinions run strong regarding this argument. Perhaps the most basic and most often made argument in support of a national minimum wage law is that it is simply the correct thing to do, morally speaking. The idea that we should want to take care of each other and make sure that everyone made a comfortable wage is one of the most basic tenets of the philosophy of those who support it. Arguments against Minimum Wage Laws: On the other side of the argument are those who are opposed to increasing the minimum wage, as well as some who think it should be abolished altogether. Many businesspeople and economists are on this side of the debate, and they present some pretty compelling arguments. They argue that imposing an increase on the federally mandated minimum wage actually will do more economic harm than good. [viii] The main argument deals with the elasticity of demand regarding employment. A minimum wage increase actually reduces the quantity demanded of workers, either through a reduction in the number of hours worked by individuals, or through a reduction in the number of jobs. ix] Simply put, employers are likely not going to increase their salary budget, so if the hourly wages increase, then they must reduce the number of hours of work that they are paying for. This could result in the exact opposite impact of that which is intended. Those earning the minimum wage and are facing reduced hours or even being let go will find themselves much worse off as a result of an increase than leaving it at its current rate. Additionally, often the way out of e arning minimum wage is through skills learned through those minimum wage jobs. If there are fewer of these jobs as a result of the wage being higher, fewer people will be able to learn the skills needed to move up on a career path and break the cycle of poverty. Secondly, if employers are unwilling or unable to reduce the number of hours they pay their employees, they will simply attempt to make up the increased salary expense through increased prices. On a small scale, this may not have a large impact on the overall economy. When this is done on a large scale because many employers need to cover their increased costs, this is likely to lead to inflation. x] Higher salaries necessitate higher prices which will erode most if not all of the benefits of the increase in pay. The minimum wage workers will have the same buying power as before, but because of unnecessary inflation, the lower middle class will actually face the biggest impact because their wages will not have increased but their purchasing power will also have eroded. Another area that may be impacted by a mandated wage increase is training. As most workers who earn the minimum wage typically have little education and training, their biggest chance to work their way into a higher paying job is through on the job training. One part of an employer’s budget that could face cuts would be for providing training to employees. Often employers provide training to their employees that would help them advance in their career, but may not be completely necessary in their current position. Unnecessary expenses such as this will most likely be trimmed, resulting in fewer opportunities for the working poor. [xi] Perhaps the simplest argument is if a minimum wage worker is producing $4. 00 per hour worth of product, and then the federal minimum wage is raised to $5. 0, the employer must find a way to increase the workers marginal productivity or face operating loses due to underproductive employees. One final thought from opponents is that once all of the aforementioned arguments are considered, there are more effective ways of helping address the issue of poverty. The Earned Income Tax Credit is pointed to as a strong example of one of the more effective ideas, rather than putting the burden of poverty on em ployers, it is shifted to the government. [xii] Empirical Data: When considering both sides of this debate, it is important to realize who are the workers earning minimum wage, and what role they have in providing for their families. Of the 1. 9 million workers in the United States who were paid the minimum wage in 2005 (most recent information available), more than one half (53%) are between the ages of 16-24. These workers are most likely high school and college students, and most of them do not work a full time schedule. Two thirds are members of families who have a combined income of at least 2 or more times the official poverty level based on their family size. Less than 17 percent are the only wage earners in their families, and less than 6 percent are poor single mothers. [xiii] What does this information tell us? The most important thing is that an increase in the minimum wage would target a majority of people who may not be living in poverty and are otherwise not in need of direct assistance. The far-reaching effects of raising minimum wages across the board in order to get help to the approximately 22 percent of earners who are truly living in poverty seems to be at the least ineffective, and at worst it could epresent a terrible misstep in economic policy. It is difficult if not impossible to identify the jobs lost because of minimum wage, but it is very easy to identify the additional income for a minimum wage worker. This is often the first retort from minimum wage advocates in response to arguments made by the other side. Alison Wellington’s research found that a 10% increase in the minimum wage resulted in a 0. 6% decrease in teenage employment, with no effect on unemployment rates. [xiv] A study along the same lines by David Neumark and William Washer in 2008 found contrasting results. They concluded that minimum wage resulted in a reduction in employment opportunities for low skilled workers, it was most harmful to poverty-stricken families, and that it lowers the adult wages of young workers by reducing their ultimate level of education. [xv] There are countless studies on both sides of the issue, and each one only solidifies each side in their existing opinion. No matter what position one takes regarding the minimum wage debate, there are a multitude of studies available to support it. The seemingly obvious fact is that these small increases that are enacted every few years are never enough to truly make a difference in bringing a person or a family out of poverty. A fifty cent increase in the minimum wage results in about $20 more per week for a full time worker. In my estimation, it is quite unlikely that small amount is making the difference in a person or a family living in poverty and living comfortably. A study of PhD members of the American Economic Association found that 46. % of respondents wanted minimum wage completely eliminated while 37. 7% want the minimum wage increased. [xvi] Such division among even the most expert economists shows exactly how contentious this issue is, and that there is no black and white, right or wrong answer to solve the debate. Perhaps as time goes on and there is more historical data to review, there may be a more definitive answer regarding this debate. Until such time, both sides will most likely remain entrenched in their current position.

Stages of Developing a Psychiatric Treatment Care Plan

Stages of Developing a Psychiatric Treatment Care Plan A patient had been admitted to an A E unit after committing ‘deliberate self-harm’. He had attempted to commit suicide by overdosing on some headache tablets. When that hadn’t worked he slashed himself in several places using a kitchen knife. He arrived at the A E unit in an extremely distressed state. Why the psychologist was called in Although the patient clearly had very severe physical injuries a comprehensive psychosocial assessment revealed he was suffering from severe psychological problems. His symptoms seemed to suggest clinical depression that was so deep-rooted and severe it necessitated intensive and sustained psychotherapy. Thus, it was decided to immediately refer him to a clinical psychologist. This is consistent with professional guidelines, which recommend that self-harm patients are referred for psychological intervention if an initial psychosocial assessment reveals an underlying psychological problem (NICE, 2004, p.32). A clinical psychologist is formally trained to deal with various forms of psychopathology, including clinical depression, based on psychological theories and research (Davey, 2004, pp.713-714). In addition to carrying out in-depth psychological evaluations, to identify underlying psychopathology (using a wide variety of personality and neuropsychological tests, and clinical observ ation), the psychologist is trained to make a formal diagnosis, using set criteria. Clinical psychologists and psychiatrists have very similar training. However a clinical psychologist rather than psychiatrist was called in to deal with this case because the latter are primarily medical doctors, and hence typically use the ‘medical model’ for dealing with psychological disorders. Psychosocial assessment suggested that this patient primarily required intensive psychotherapy rather than medication. Theoretical concepts The clinical psychologist relied upon Sigmund Freud’s psychoanalytic theory in formulating a treatment plan (McMillan, 2001, pp.599-600). Freud’s conceptualisations have had a massive impact on popular culture, and psychology and psychiatry in particular. Psychoanalytic theory posits that unconscious conflict, often emanating from childhood, and involving forbidden sexual and aggressive desires causes psychopathology. A distinction is made between the conscious (awareness), preconscious (memories that are readily accessible), and unconscious (repressed memories of which a person may not even be aware). Superimposed against these levels of consciousness are three components of human personality: the id (basic biological drives), the ego (restrictions imposed by external reality), and superego (conscience). The id operates at the subconscious level, while the ego and superego function at the preconscious and conscious levels. Perpetual and intense conflicts between the id and the other two components can generate considerable anxiety and, if unresolved, mental health problems. Psychoanalysis places considerable emphasis on the sex drive, or ‘libido’. Humans are thought to progress through several stages of psychosexual development. Fixation at any one stage results in various emotional problems. What the psychologist did During the initial session with the patient the clinical psychologist immediately set up a good rapport with the patient. The priority was to assess the patients’ problem, and develop a comprehensive treatment plan with clear goals for recovery. After an initial session the patient underwent numerous sessions involving free association, a therapeutic form of psychoanalysis (McMillan, 2001, pp.167-168). During this procedure, the psychologist encouraged the patient to verbalise whatever came to mind. Free association is considered to yield clues about the subconscious roots of a patients’ problem. The patient spoke a lot about his childhood. From time to time the therapist probed with searching questions encouraging the patient to elaborate on particular statements made. During each session the psychotherapist maintained an empathic and non-judgemental demeanour, in order to facilitate a high degree of trust between himself and the patient. The patient attended weekly se ssions over a six-month period. During the final month of therapy the clinician engaged in dream analysis, whereby the patient was asked to describe recent dreams in as much detail and with as much accuracy as possible. How the psychologists’ input was assessed By the end of therapy it had gradually become clear that the patient had been experiencing intense homosexual desires ever since puberty. These urges had been repressed for years, in order to conform to social norms and his parents’ wishes for him to get married and have children. The patient wasn’t conscious of these forbidden desires. The realisation made him feel much better, going a long way to explain why he had been feeling pathologically depressed, even suicidal. The impact of psychoanalytic therapy on this patient was assessed using a pre- and post-test experimental analysis (Coolican, 1994, pp.82-88). During his initial assessment of the patient the psychologist obtained baseline measures of psychiatric symptoms using the SCL-90-R (Derogatis, 1983), social functioning using the Social Adjustment Scale (Weissman, 1975), general adjustment in life, using the Global Assessment Scale (Endicott et al, 1976), and episodes of self-harm, using the Suicide and Self-Harm Inventory (Sansone et al, 1998) during the previous six months. At the end of therapy the therapist administered the same battery of tests to gauge any improvements in the patients’ mental health. Statistical analysis comparing pre- and post-test data, using a t-tested for repeated measures (Coolican, 1994, pp.281-286) showed significant improvements on all criteria: psychiatric functioning, and social/global adjustment, and frequency of self-harm. Bibliography Coolican, H. (1994) Research Methods and Statistics in Psychology, London, Hodder Davey, G. (ed) (2004) Complete Psychology . London: Hodder and Stoughton Derogatis, L.R. (1983) SCL-90-R: Administration, Scoring, and Procedures Manual,  II. Towson, Md, Clinical Psychometric Research. Endicott, J., Spitzer, R.L., Fleiss, J.L. Cohen, J. (1976) The Global Assessment  Scale: a procedure for measuring overall severity of psychiatric disturbance.  Archives of General Psychiatry, 33, pp.766–771. NICE (2004) Self-Harm: The Short-Term Physical and Psychological Management  and Secondary Prevention of Self-Harm in Primary and Secondary Care:  Clinical Guideline 16. London: National Institute for Clinical Excellence. McMillan, M. (2001) The reliability and validity of Freud’s methods of free  association and interpretation. Psychological Inquiry, 3, pp. 167-175. Sansone, R.A., Wiederman, M.W. Sansone, L.A. (1998) The Self-Harm Inventory  (SHI): development of a scale for identifying self-destructive behaviors and  borderline personality disorder. Journal of Clinical Psychology, 54, pp.973-983. Weissman, M.M. (1975) The assessment of social adjustment. Archives of General  Psychiatry, 32, pp.357–365.

“Consumer Banking” Compliance Assessment Essay

â€Å"Consumer Banking† Compliance Assessment Introduction Part One            The business entities have evolved tremendously over time. Among the many advancements made in the business industry is the issue of the creation of different operating units. One of the most important operating units is the compliance unit. Each operating unit is accorded its own mandates and terms of references. This way, each unit is made somehow independent to the extent that it operates within the requirements of the entire organization’s goals. In addition, each operating unit is charged with its responsibilities. This is in line with the purpose of the creation of the unit in the first place. The number of the operating units depends on the classes of functions that are identifiable in the entire organization. Furthermore, all the operating units must be able to link with one another. This is because they are all operating in the best interest of the entire organization. If one fails, all the others are affected. Therefore, none can work in solitude. It is also important to note that all the units should have a proper reporting procedure to the management and finally to the board of directors. This is because they are answerable to the board. Understanding the nature of each business unit is therefore very important. Identification of the elements that constitute the business unit is also important. In this way, we can appreciate the role of each business unit, how they link to each other and ultimately how they contribute to the success of the entire business.            Compliance unit is a very special unit in the financial industry. It is special because its functions are not business activities but giving advice to other business units on how to improve compliance with the rules and regulations. Just like any other operating unit, the effectiveness of the compliance unit in discharging its duties is affected by factors such as terms of reference, authority, reporting responsibilities, accountability and the quality of the staff. All these factors together will see that the unit is successful in its operations or it fails. If it is successful then it is relevant to the entire firm because it will provide the much needed assistance. If it fails, the entire firm will likely fail because the compliance risks will ultimately catch up with it while unaware. It is therefore important to look critically at the factors that ensure that the established compliance unit is effective.            First and foremost, the terms of reference for the compliance unit predict the effectiveness of the unit. The terms of reference spell out the specific task that the unit is mandated to carry out. The task should be stated clearly with no ambiguity. For instance, in the case of the compliance unit, the task is to advise the business on how to comply with the set rules, regulations, laws and standards. In addition, the compliance department monitors the business activities to find out whether they are within the regulations set out. The department also monitors the conduct of employees to identify actual violations or potential violations of rules, procedures, policies, regulations and standards that are guidelines in the industry. In a nutshell, the duty of the compliance department is to create programs that support the firm’s compliance. It is the duty of the senior management and the business line supervisors that ensure ultimately that there is firm comp liance with laws and the regulations. Furthermore, in the terms of references, the objectives of the compliance unit must be stated clearly. This way, the department will have the backdrop for measuring its performance just like any other business unit. The objectives of the department may be with regard to how many trainings that will be done at a given time, how often surveillance will be conducted, how often policies will be reviewed among others. Lastly, the purpose of existence of the department must be clearly understood if the department has to be effective in discharging its duties. For instance, the department should be made aware that its main purpose is to assist the management in identifying compliance risks, assessing them and advising on what should be done to avert their repercussions as well as their recurrence. There are set guidelines that dictate the operations of the compliance unit. They stipulate the boundaries of the operations of the department and the limits of its mandate. If these guidelines and the instructions are adhered to, the effectiveness of the compliance unit will be realized in the firm. There will be no conflicts of interest between the compliance unit and the management responsibilities.            The other important factor that influences the effectiveness of the compliance department is the authority. The authority of the compliance department should be clearly stated out. To ensure monitoring of the business activities and the conduct of the employees, the compliance staff should be given unlimited power to access all the information in all the business units in the firm. The compliance staff should be answerable to the board and the senior management alone. For instance, suppose the business unit in a bank in charge of loan processing is about to commit a crime with respect to the regulations that govern the operations. A client comes to the office of the business line manager in this business unit. It happens that the client is a friend of the manager. According to the set regulations governing advancing loans, the client does not meet the criteria. The manager maneuvers and bends the rules in favor of his friend to get the loan. This is an issue that t ouches on compliance. Without enough authority on the part of the compliance staff to investigate the conduct of the manager in this business unit, then it would be impossible to unearth such a misconduct. Perhaps it could end up undetected. To this extent, the compliance department would be deemed to have failed, but only because it had no authority over such circumstances.            How the compliance staff report their findings is also very important if the department is to be effective. In order of hierarchy, the board of directors is at the top. The senior management is the second. The board gives instructions to the senior management staff. The senior management gives instructions to the business line managers who in turn command business unit supervisors. The supervisors give orders to the employees. The compliance department does not play any direct role in the business, it is therefore termed as a non-business department in the firm. The board and the senior management ultimately enforce compliance with the rules and the regulations starting with the business line managers and the business unit supervisors. Then the supervisors ensure that the employees toe the line in matters that regard laws, rules, regulations, procedures and the standards of the firm. The compliance department is involved identification of the possible violations of the compliance. If such violations are identified, they should be communicated to the right person. The head of the compliance department reports directly to the board and senior managers for an appropriate action to be taken. This is because, as we have already mentioned above, it is the responsibility of the board and the senior managers to ensure full compliance in the entire firm. The fact that the compliance department can report directly to the board makes it possible to avert a possible crisis that could result from misconduct of employees.            Another factor that influences the effectiveness of the compliance unit in a firm is the quality of the staff members. The staff should be well educated in matters that regard the state laws that affect the firm. In addition, they should have a good understanding of the rules, regulations, procedures and standards of that firm. This knowledge will help them in making proper decisions when carrying out their duties. This is because it is impossible to tell when a violation has happened or is about to happen if one does not know what was supposed to done in the first place. The issue of quality of staff arises also in business units that are involved selling process. It is important for the compliance officers to know the line of products that are being sold and the suppliers who supply them. This is because some business entities enter into agreements with certain suppliers.For instance, in a certain business entity in Singapore that sells electronics from Samsung C ompany, the following violation of the compliance was committed and went unidentified. In this particular instance, the manager in charge of sales decided that he could order some electronic devices from Sony Company without informing the rest of the management team.. The reason why this manager decided to do such a thing oblivious of its consequences to the entire business was because he thought that Sony products sold more than Samsung products of the same line. One junior compliance officer was inspecting the products in the business stock. He noticed both Sony and Samsung products but did not question. This is because he did not know that there was a deal between the business entity and Samsung Company and that presence of Sony products meant that the manager was not compliant. Part Two            The regulation of the financial services sector requires a delicate balance being maintained between over-regulation on the one hand and under-regulation on the other. This is because financial services are delicate matters that are sensitive to any external changes and the impact of any external force is significant in the survival of the financial industry. Regulation of financial industry emanates from two levels. These levels include external and internal levels. External regulations are the most significant because they essentially target satisfaction of the consumer of the services and not necessarily the well-being of the financial industry. They are meant to make the financial institutions disciplined in terms of their services to their consumers. They are made by external bodies that oversee how the financial institutions operate with respect to the quality of services that the end user receives. For instance, the consumer requires to know the truth about the services that they are about to purchase. Therefore, they require information that is not misleading. If left to the financial institutions, they would not care the truthfulness of the information they give but the quantity of the sales. They would give misleading information that is only aimed at convincing the consumers to like their services. Internal regulation is aimed at maintaining the survival of the business in the world of competition. It ensures that the business shapes its niche and maintains its reputation. This way, it ensures that the business maintains the competitive atmosphere. Too much external regulation would have catastrophic effects in terms of survival of financial institutions. Too little regulation would lead to suffering of the consumers. A balance is therefore paramount to be maintained.            In Singapore, the Monetary Authority of Singapore (MAS), besides being the Central Bank, itis the institution that is charged with the responsibility of regulating all financial institutions including the banking and insurance sector. The MAS uses many instruments to regulate financial institutions. First and foremost, it uses Acts of Parliament to regulate financial institutions. These Acts constitute the laws that if broken or violated culminate to a severe penalty. Among the most important Acts are the Banking Act 1999, the Financial Advisers Act 2005 and the Insurance Act 2002. Another instrument that the MAS uses is directives. They directives spell out the legal requirements of the financial institution. Notices are also issued to certain class of financial institutions to impose certain requirements that are legally binding. Moreover, the MAS applies guidelines as an instrument to regulate financial institutions. Guidelines dictate the best practice standard s that govern the conduct of the specified institutions. Codes are also applicable because they set out the rules governing the conduct of financial institutions with regard to the performance of certain activities. Examples of codes are those that govern how Takeovers and Mergers can be done. Practice Notes are used to guide the financial institutions on administrative procedures that pertain to the matters of licensing, reporting and compliance. Circulars are also very useful. They are documents sent to specified financial institutions to pass particular information such as changes that can be anticipated in the near future. Finally, the policy statements of the MAS give more information on the expectations of the MAS on the financial institutions.The MAS has immense powers to regulate all the financial institutions. Among its powers is the power to approve financial institutions and to control their operations.            The MAS strives so hard to maintain the balance in the regulation matters to avoid over-regulation and under-regulation. Over-regulation hinders the creativity and innovations of the companies. The insurance personnels would feel restricted in the way they respond to the external demands if the MAS monitors the company’s every move. On the other hand, if the insurance companies were to be left unregulated or under-regulated, the consumers would suffer greatly. This is because the insurance companies would use any means, whether ethical or unethical to gain an advantage over the competitors at the expense of the consumers. According to the Insurance Act 2002, Cap 142 has several provisions that dictate how insurance companies should be created and operated. For instance, it is only a person who has been licensed by the Authority under the Act who can carry out an insurance business in Singapore. This provision ensures that all the insurers are recognized by t he state of Singapore and that there is no chance that a consumer may be conned by a fraudster. According to the Act, anyone who claims to carry out insurance business while unregistered is liable to a criminal offense. The Act also gives guidelines that pertain to how Take-overs should be done in the insurance companies. Without proper Take-over procedures, the consumers may suffer. The authority also dictates how shareholding to the insurance companies is done. This way, the rights of the shareholders are maintained and their confidence in the insurance companies to which they have shares is boosted.            The MAS has also issued circulars to the insurance companies to convey important messages . An example of the circular issued to the insurance companies Chief Executives is that dated 18 November, 2013. It required all the insurers to submit their assets and liability exposures. As already stated, guidelines are another important tool through which the MAS regulates the insurance companies. An example of a guideline that is dated 1st April, 2013. It was a guideline on the use of internal models for liability and capital requirements for life insurance products containing investment guarantees with non-linear payouts. Also, on 17th May 2013, a guideline outlining the criteria for the registration of an insurance broker was issued. It requires that the applicant be a company among many other requirements. On 6th September 2013, a guideline was issued to all the financial institutions guiding them on how to safeguard the integrity of Singapore’s financial syste m. It categorically stated that MAS would not tolerate the use of the financial system to conduct illegitimate and criminal activities. Therefore, all financial institutions were required to uphold the integrity of the financial systems. Notices have also been issued on several occasions by the MAS the insurance companies. An example of the notice is that issued on 29th November 2013 with regard to the unsecured credit facilities to individuals. This notice provided requirements that an insurer has to comply to when granting unsecured credit facility to an individual.            All the above are illustrations where the MAS has regulatory authority over the insurance companies. We have seen that it regulates all the steps of the operations of insurance companies from establishment to matters of takeover and mergers. It is imperative that such a state body like the MAS should have control over financial institutions. The MAS is known to enhance open operations in the financial institutions in order to promote competitiveness and spirit of innovations. This way, the MAS fulfills our argument that financial institutions should not be over-regulated. On the other hand, the MAS ensures that transparency,accountability and integrity principles are upheld in the operations of these financial institutions. It ensures transparency because the consumers need to know what kind of services they are about to purchase from a financial institution. Again, these financial institutions are to be held accountable for their operations when they lead to posit ive or negative results. As already mentioned, all the financial institutions are supposed to uphold the principle of integrity by not carrying out their operations to advance criminal and illegitimate activities. In this manner, the MAS is fulfilling our argument that financial institutions should not be under-regulated. Part Three            The need to escalate â€Å"Non-routine and Complex Matters† to a designated officer would not arise if all the officers are properly trained in dealing with such issues. This statement simply means that escalation of non-routine and complex matters is done because the officer who detects such an issue is not trained adequately to handle it. This also happens when a compliance officer identifies an issue, but then his or her authority is limited to escalating it to a supervisor or manager.            First and foremost, it is important to know which are these non-routine and complex issues that can arise in matters of compliance. According to the Financial Industry Competency Standards for Compliance, the following issues constitute non-routine and complex matters. They include issues such as intentional breaches of regulations, guidelines and policies; insider dealing; misconduct; misrepresentation; sign-off new product; sign-off advertising and promotional materials by the insurance institution among others. These are issues that are not covered by the existing policies on how they should be handled in case they happen.            A compliance officer has no power to reprimand an employee. He or she has no power to fire an employee on the grounds of misconduct. If this is the case then, issues such as intentional breaches of regulations, guidelines and policies need someone who can resolve them so fast to avert any compliance crisis. The power to deal with the complex and non-routine matters is in the hands of the supervisors and the executives of any firm. The compliance officer is left with an option to escalate such matters whenever they arise. This process of escalation takes time because the compliance officer has to document all the steps involved as well as the action taken by the appropriate person to whom the matter has been reported starting with the head of compliance department.            There are certain things that can be done to empower compliance officers to be able to deal with these non-routine and complex matters. First, these compliance officers need proper training to make them aware of possibilities of occurrence of such matters. Moreover,they need to be equipped with adequate skills to cope with such issues when they occur in order for them totake appropriate and rational steps. Although they may not be given powers to demote or fire a disobedient employee, they can be given a means through which they can address such matters to the board as a matter of urgency. In addition,when these compliance officers are trained adequately and are competent, supervisors may delegate some functions to them. Such functions may include the power to demote and to fire misbehaving employees. However, it is the responsibility of these supervisors to conduct a follow-up and review to ensure that the delegated functions are performed properly. Most important is the fact that the supervisor remains responsible for such delegated activities.            In short, if the compliance officers are adequately trained so that they can adequately handle the non-routine and complex matters, the wastage of time in averting possible compliance crisis would not occur. This wastage of time occurs especially if the supervisors don’t take the necessary action to handle such issues. This requires that the matter should be escalated to the board of directors. Before the board sits to discuss the issue, it may be too late to avert the crisis and enough damage would already have occurred. Moreover, the process of escalation is very lengthy. It starts with the Head of Compliance. A complete brief need to be prepared explaining the issue and giving any relevant background information and the impact or the implications for the involved business unit, the personnel and the entire organization. Where possible, possible recommendations and alternative courses of action should be provided and their possible implications. All these steps cause unnecessary delays at could be detrimental to the organization in the long run. Therefore, training compliance officers as well as empowering them can help save the reputation of the firm in time. In addition, this could also help save an imminent collapse of the firm like in cases when employees decide to disregard the set regulations in the operations. References Scanlan, A. and Purdon, C. 2006. Compliance Program Management for Financial Services Institutions in Today’s Environment. Bus. Law., 62 p. 735. MAS Annual Report 2011/20 (www.msa.gov.sg) Source document

Why Metal Music Does Not Create Violence in Teenagers

Loud, aggressive, and fast, metal music has been accepted worldwide as an acceptable genre of music. Yet, some people cannot comprehend a genre of music that thrives on being the horror movie of music, and purposefully creates controversy at nearly every turn. â€Å"The media has irresponsibly finger-pointed† (Sterngold). One of the most recent examples of metal being blamed for a national tragedy was in the shooting of Congresswoman Gabrielle Giffords. Here, a song by Drowning Pool was blamed as the sole motivator for the shootings. However, the most prolific example of the media irresponsibly finger-pointing at metal music has to be the case of Columbine. After the Columbine shootings, the authorities placed sole blame on Marilyn Manson and his music for the shootings suggesting that Manson’s music, or his fans, incite violence (Sterngold). The only problem with their claims was the fact that the two shooters did not listen to, nor where they fans of, Manson’s controversial music. This brings the question of whether or not the claims placed on metal music for leading to violent behavior are true and can be supported. An example of what those who think metal has a direct correlation to violence say that Manson’s music promotes â€Å"hate, violence, death, suicide, drug use, and the attitudes and actions of the Columbine High School Killers (D’Angelo). However, the other side of the story can be best stated by Slayer drummer Dave Lombardo when he said, â€Å"We’re telling stories. It’s not actions-it’s just music. It’s fantasy stuff, just putting thoughts on paper, that’s a crime? † (Considine). Although metal is dark, heavy, and often times inappropriate, it does not have a negative effect on an otherwise normal and productive listener, especially teenagers, because metal is just a different genre of music, meaning that its lyrics do not have a negative affect on an otherwise normal listener. To begin, artists are too often misinterpreted and bashed with claims that are stretched to the point of lies, creating the opinion that all of their listeners can be stereotyped into a select, violent, group. One case of this can be with the band Slayer, one of the most popular thrash metal bands of all time. Slayer has been sued multiple times and is one of the most controversial bands in history. The band was sued twice by California parents who claimed their daughter was murdered in a ritual inspired by Slayer’s music, yet both suits where dismissed (Considine). It also really frustrates the musicians who work so hard to make music, only to see themselves harmed because of it. As Lombardo says sarcastically, â€Å"If they take my drums away, I guess I can’t play any more. But I don’t see that happening, unless I’m living in a Communist culture. † (Considine). It also agitates the fans who feel that they are misconstrued and all used as inferior examples of what music can do to people. Slayer’s fanbase contains more MENSA members than any other metal band (Considine). At this point in time it is also safe to say that people know what they are getting into and what to expect from a band named Slayer. No, this is no band for virgin ears, but this does not give reason for it to be said that they immediately turn everyday human beings into monsters. Slayer knows that where they go, controversy will naturally follow, and this for years has been a successful marketing tool (Considine). Although Slayer is only one example, this idea spreads all the way to people trying to explain violence, and finding scapegoats throughout the media with similar attributes to metal. Also, violence in the media has often been exaggerated, and statistics are often inaccurate to the point where a consistent thesis is no longer possible. According to James K. Fitzpatrick, a former teacher at a Catholic school, his former students who listened to metal went on to lead successful, calm, lives, which in his opinion, proved that the lyrics of songs do not have long term effects on the listener. It also brings to mind exactly why kids in an environment like this would choose metal, when it is certainly not condoned or accepted. It can be inferred that they chose this because of the idea that it would offend adults and others in their lives. According to Fit zpatrick, perfectly normal kids listen to â€Å"shock rock†. There are certain types of kids who like being associated with music that offends some adults (Fitzpatrick). There is an emphasis with Fitzpatrick that lyrics are not detrimental to listeners in the long term and that they are in the end generally meaningless in the quality of a persons life. He states that â€Å"I have seen fans of other rock groups that caused great anxiety to parents in the 1980s†¦mature in a similar way. † (Fitzpatrick) Another reason for the explanation of why violence is often exaggerated can be the fact that violence is so often overstated since we see so little of it. As Rhodes said ‘we live in one of the least violent eras in peacetime history’†(O’Hehir 32). Our society has surely changed in the way we view violence since we are exposed to so little of it. Out society has also changed because of the way we deal with violence. It used to be that we ensured we avoided it all times. Now it seems like we almost react positiv ely to certain types of violence. By viewing violent entertainment individuals will leave with pent up tendencies gone, and anger released (Sparks 115). It seems as though times are truly changing and that in fact violent lyrics do not make mad men, and violence can in fact do some good for certain people. Next, is the fact that metal music is often scapegoated for events where people’s emotions run high, and accusations fly because people feel a need to know a reason. Metal is often first blamed but a majority of these claims are false and without proof. A majority of these claims stating that metal lyrics lead to long term mental problems have been biased, in-conclusive, or accurate. As Harvard physiologist Steven Pinker wrote, â€Å"Media violence research has been flawed and in-conclusive at best, and a great funding scam at worst. † (O’Hehir 25). These claims are strong, and his claims have been backed up by other sources fighting against the claims of others. MIT Professor Henry Jenkins observed that the idea that violent entertainment had consistent and predictable effects on viewers was â€Å"inadequate and simplistic. † (O’Hehir 27). Another reason for the increased blame put on metal is the rise of the digital age, and with it the rise in metal music videos and horror movies. Some would go as far to say that these videos alter the mind producing a mentally unstable person. Yet, as others would claim, media depictions of violence are inherently attractive to the masses, only truly affecting a few people, and are never the sole reason for any mental instability. This is called the Aesthetic Theory of Vandalism or The Aesthetic Theory of Destruction. The theory states that the same things that account for the enjoyment associated with socially acceptable experiences are similarly responsible for the pleasure associated with acts of destruction. Not to mention the fact that from what limited televised media there was in the 1950s and 1960s, a majority of it was uncensored, and unregulated. 50s TV was profoundly routed in guns and gunfire, to a degree that would provoke outspread outrage today (O’Hehir 31). The explanations for blaming metal are not true and barely factually based. Furthermore, metal does not have an affect on the mental stability of a listener, and the there have yet to be a definitive solution to explain that it does. In short, it becomes apparent that there is no correlation between metal and violent behavior, and in fact anger can released when listening to metal. It is also true that metal being blamed for social problems can be generalized into the topic of media violence being blown out of proportion when in fact, our society is generally less violent and more regulated than in previous generations. The question becomes, what can be done about it? The gap between the fans of metal and those against it has always been a large gap, and one that has rarely attempted to be bridged. First, it takes understanding that it is not okay to generalize fans and bands into a group of â€Å"evil† people, and understand also that a majority of the listeners understand that indeed the music they listen to is offensive, and that they enjoy that aspect of it. Certain people who want to listen to this music will, and if they like it, obviously they will continue (Fitzpatrick). It is also important to truly know the person, and never assume that something like listening to a genre of music immediately translates into a personality characteristic or flaw. People like violent in your face things in spite of, not because of, violence only in rare circumstances where the media itself is too good for the violence to negatively affect the experience. † (Sparks 115). When debating the human psyche it is important not to let emotions, biases and judgments interfere with rationale. It is important to listen, and look at facts, proof, and remember that those who appear like a â€Å"metalhead† would, are very different people than you may think.

SUNY Oneonta Admissions and Acceptance Rate

SUNY Oneonta Admissions and Acceptance Rate SUNY Oneonta has an acceptance rate of 53  percent. Students with good grades and solid test scores have a good chance of being admitted, especially those with a range of extracurricular activities and work/volunteer experience. Applicants will need to submit SAT or ACT scores, along with high school transcripts and a letter of recommendation. The school accepts the SUNY Application or the Common Application; both of these can be found online. If you have any questions about the admissions process, dont hesitate to contact the admissions office for assistance. Calculate your chances of getting in with this free tool from Cappex. Admissions Data (2016) SUNY Oneonta Acceptance Rate: 53  percentGPA, SAT and ACT Graph for SUNY OneontaTest Scores: 25th / 75th PercentileSAT Critical Reading: 490 / 580SAT Math: 490 / 580(what these SAT numbers mean)(SUNY SAT comparison chart)ACT Composite: 22 / 26ACT English: 20 / 25ACT Math: 22  / 26(what these ACT numbers mean)(SUNY ACT comparison chart) SUNY Oneonta Description SUNY Oneonta is a selective college in the State University of New York system. 95 percent of entering students rank in the top half of their high school class, and the average high school GPA is a 3.50. Although the college does have some graduate programs, the primary focus is on undergraduates. The core curriculum is in the liberal arts and sciences, and the college frequently ranks well among public colleges and best values in college. The college has a 17 to 1  student/faculty ratio, and the average class size is 21. Oneonta is located in the picturesque rolling hills of central New York near Cooperstown. Enrollment (2016) Total Enrollment: 6,055  (5,729 undergraduates)Gender Breakdown: 40 percent male / 60 percent female98 percent full-time Costs (2016-17) Tuition and Fees: $7,932 (in-state); $17,782 (out-of-state)Books: $1,200 (why so much?)Room and Board: $12,368Other Expenses: $2,002Total Cost: $23,502 (in-state); $33,352 (out-of-state) SUNY Oneonta Financial Aid (2015-16) Percentage of New Students Receiving Aid: 91  percentPercentage of New Students Receiving Types of AidGrants: 61  percentLoans: 66 percentAverage Amount of AidGrants: $7,126Loans: $6,665 Academic Programs Most Popular Majors:  Biology, Business, Criminal Justice, Education, English, Family and Consumer Sciences, Mass Communications, Music Management, Psychology, Speech and Rhetorical StudiesWhat major is right for you?  Sign up to take the free My Careers and Majors Quiz at Cappex. Graduation, Retention and Transfer Rates First Year Student Retention (full-time students): 83  percentTransfer Out Rate: 23 percent4-Year Graduation Rate: 58  percent6-Year Graduation Rate: 72 percent Intercollegiate Athletic Programs: Mens Sports:  Soccer, Cross Country, Field Hockey, Basketball, Swimming, WrestlingWomens Sports:  Tennis, Softball, Track and Field, Basketball, Swimming, Cross Country Learn About Other SUNY Campuses: Albany  |  Alfred State  |  Binghamton  |  Brockport  |  Buffalo  |  Buffalo State  |  Cobleskill  |  Cortland  |  Env. Science/Forestry  |  Farmingdale  |  FIT  |  Fredonia  |  Geneseo  |  Maritime  |  Morrisville  |  New Paltz  |  Old Westbury  |  Oneonta  |  Oswego  |  Plattsburgh  |  Polytechnic  |  Potsdam  |  Purchase  |  Stony Brook If You LIke SUNY Oneonta, You May Also Like These College Binghamton UniversitySUNY New PaltzSUNY AlbanySUNY CortlandMarist CollegeHartwick CollegeIthaca CollegeStony Brook UniversitySyracuse UniversitySiena College Data Source: National Center for Educational Statistics

The True Story of Stand and Deliver essays

The True Story of Stand and Deliver essays The movie I watched in Mr. Franklins class was "Stand and Deliver". The story is about a high school mathematics teacher who takes a class of undisciplined, unmotivated and rebellious students and helps them through a year of school Garfield High in Los Angeles, California. He helps them graduate and succeed. The kids learn so much in that year that eighteen of them are able to pass a very hard college credit calculus exam. The exam is so hard that only 2% of American students pass it. The movie is based on a true story. As I was watching the movie, the teacher named Jaime Escalante gets challenged on the first day. Many students yell out to him in Spanish and in English to see if they can test him in any way. He doesnt confront them; but he reaches out to them. He befriends many students including a troubled teen named Angel. At one point, Angel asks Mr. Escalante if he needs more than one book and says that he wants to learn but his "homies" must not find out. In return Mr. Escalante is promised that he will get protection, but tells Angel instead to just come to class. The students are astonished to see, that a teacher can hang in there. So as days go on, he starts adopting ways to get the students to pay attention to him. The next day he is dressed as a chef with a meat cleaver. He slams the meat cleaver, slicing the apples in half and gets people to stop talking. He asks various students what they have. Eventually they are asked individually to answer. This is one of his tactics into having a group discussion. As he eases his way, he starts teaching by using examples out of the everyday lives of his student making them think things out for themselves. The students then learn to realize he is serious. Jaime Escalante tells his students if they want to learn they must all follow his rules. He starts by announcing that the punishments for not working hard in class are to be banished from the class....

The process and the steps of pearl farming, including the benefits to Essay

The process and the steps of pearl farming, including the benefits to the environmental surrounding - Essay Example Eventually, the researcher will distinguish the differences between pearl oyster and a regular oyster. Prior to the conclusion, the researcher will discuss the positive impact of pearl farming on eco-tourism business in terms of the need to preserve the natural sea environment. Since the 17th century, the United States has been considered as a major source of fresh-water pearls. The â€Å"Tennessee River Freshwater Pearl Farm† which was founded by John Latendresse back in 1979 is the only freshwater pearl farm in the country. (American Pearl Company, 2008; U.S. Pearl Cultivation, 2008) In general, oyster pearls can either be produced in either fresh- or salt-water or both. Salt-water pearls are rounder, bigger, smoother and have a better luster. (Khulsey, 2008) Aside from the physical characteristics of these pearls, one of the most obvious differences between the two types of pearl is the fact that fresh-water pearls are cheaper as compared to salt-water pearls. Pearls that are bred for only a year is significantly cheaper than pearls bred for 30 years or more. (Journal Wuxi: Pearl of Taihu Lake, 2006) The scientific name of fresh water pearl oysters is known as the ‘Pinctada’ family which is totally different from edible oysters known as the ‘Ostreidae’. (Pacific Island, 2008) Silver- or gold-lip pearls mainly come from ‘Pinctada maxima’ whereas the black-lip pearls come from ‘Pinctada margaritifera.’ Saltwater white pearls in Japan’s white pearls come from ‘Pinctada fucata martensi’ which is also known as the ‘Akoya pearl oysters’. Lastly, the Keshii pearls in Japan can be formed either in fresh- or salt-water. (Khulsey, 2008) The sea water condition and age could greatly affect whether the oysters would have the male or a female sex organ. (Pacific Island, 2008) For this reason, maintaining the cleanliness of both fresh- and sea-waters is an essential part of pearl farming. When pearl

Who represents us Research Paper Example | Topics and Well Written Essays - 1750 words

Who represents us - Research Paper Example This would end any need for private insurance to cater for medical expenses. The national system would be funded by the taxpayer, meaning that Americans will collectively ensure a functional medical system to all citizens alike. The healthcare system will not be expensive as it may be seen from the outset. As it is, the system will eliminate the private insurance companies that currently offer medical insurance, which means the companies’ administrative overheads and the overall cost of healthcare will reduce significantly. This will enable that everyone in the United States will have access to any medical services he or she needs with much ease. This is good news to everyone alike since there will be no more constraints as they are now experienced especially by the poor who are unable to access quality medical care whenever they need it. I believe the right to access medical care is fundamental and no one should be denied. It is in line with the inalienable rights to life, liberty and the pursuit of happiness that should be enjoyed by all within the American territory. My elected official in the House of Representatives at the federal level supports the bill. He has been a champion for health care reform in the house for quite some time now. He is a member of the house committee on health and has, therefore, dealt with many matters that concern health care in the United States. Even though he supports the bill, he is of the opinion that it should be modified further to remove some of the clauses and include others. Even then, he agrees that the bill will reform the healthcare system in the United States, since the proposed system of health care in the bill is better than the current system. Talking about the current system, the representative views the current system as overly inefficient and burdensome to persons with low income who cannot afford the medical insurance. The representative prefers the bill over the other