Materialism and Social Well-Being Essay Example | Topics and Well Written Essays - 1250 words

Materialism and Social Well-Being - Essay Example Just like any other issue within society, the issue of materialism faces both negative and positive criticism as will be revealed as we proceed by my research. Social well-being on the other hand is an end result state, in which human needs are met, most especially the basic human needs, bearing in mind that the not so wealthy also make up a considerably huge portion of the entire population. Social well-being also considers a fact that the people involved, even in the wider picture, are able to coexist peacefully and harmoniously in the community tending to even show signs and opportunities of the general public growing. It is common to hear or maybe participate in debates arguing upon how materialism in society affects the social wellbeing of the same. I set out to research a much similar case in which the main argument covered is whether or not materialism or what would in other terms be considered as income inequality in a country would or wouldn’t bring down and deteriora te the social well-being level of persons in the same country. It’s a common scenario to see a variation in individual’s lifestyles throughout the society. ... It came out clear that in the western countries, as well as in the UK and its environs, social well-being has faced increased collapse of intergenerational mobility. It is proven that, in developed countries such as the U.S. and the United Kingdom, the young youth, as well as children live a totally contrasting life to that of their parents and grandparents. It is evident that these children grow with very little expectation to improve from the condition in which they were born. In this case, the poor stay poor and the trend continues. Those individuals whom we could refer to as financially stable are in most cases ruled by materialism. This escalates to levels that, it comes a point when every decision they make is materialistic in nature at least to a certain extent. This only results to further degradation of the morals in society, as social well-being is given less consideration every time. Social well-being is best showed when members in a society or an entire community show emp athy towards their fellow members. In view of the current life styles as mentioned above, it is only true to say that there is an inverse relationship between materialism and social well-being. This is in that, individuals who have very high regard for material wealth or else those individuals and parties whom are considered to be materialistic in nature, tend to have little or no regard for social well-being on the other hand. They view with less regard issues concerning others and could at times be deemed to be selfish. It also works vice versa, that individuals who treasure and have high regard for social well-being, have little or no interest in material wealth. Social well-being also sees to it that the general state of affairs meets the basic needs of the populace.

Analyze 3 different newspaper articles Essay Example for Free

Analyze 3 different newspaper articles Essay In this piece of coursework I am going to analyze 3 different newspaper articles. The articles are taken from The Mirror, The Times and Newsweek All three articles are about the same event, they are just portrayed in the different ways. The articles are about a jet cutting through a cable car wire allowing the cable cars to plummet to the ground, killing 20 people. The incident happened on the 3rd of February 1998, Cavalese, Northern Italy, on Alpe Cermis. The first two articles from The Mirror and The Times are reporting the story where as Newsweek is reflecting on the accident, Newsweek also issues the story a week and a half late, therefore cannot report the facts but reflect on them. Newsweek doesnt contain that much information on what actually happened in Cavalese, it skips over the details of the accident and seems to be more about what Europe, and in particular Italy are concerned about. The Mirror article tends to leave certain facts out, such as the time it occurred, which is included in The Times account. Newsweek provided no date of the event but say last week The Times article is definitely more factual as it contains a lot more technical jargon than The Mirror. It includes information about the U. S. fighter jet The Prowler is used to jam enemy signals electronically. none of which is found in The Mirror article, Newsweek also contains information about the fighter jet and also information about the military issues between America and Italy. The Mirror account includes a greater amount of detail, by listing the names of each of the witnesses alongside their quotations. In The Times, it tends to be vague and just use the term one witness said. Newsweek uses quotes from military officials and local authorities. The Times and Newsweeks report relies heavily on official interviews rather than the passers by which The Mirror relies upon. The Mirror also includes more quotations from the witnesses than The Times does. Newsweek does not use any quotations or interviews from eye-witnesses at the scene. Both The Mirror and The Times specify who the victims were 9 women, 10 men and 1 child. And also their nationalities at least 6 were German, 2 Hungarian and 2 Polish. This causes a greater sympathy because it makes the deaths seem more important and more in depth. But Newsweek says 20 tourists from seven European countries but it is reported it is only tourists from 3 different European countries. Even the sub-headline says that Europe questions Americas character. This all starts to confuse the reader and so does not give an accurate picture of the incident. The words used also try to disagree with the facts of the incident. Words like griped and claimed both suggest that there was nothing wrong and everyone was ganging up against America. In The Times, the witness interviewed is not British, so the Times keeps the story international. An unreasonable complaint is made in the first line, which may show their guilt: Cavalese had griped about the fighter jets that regularly roar up their Alpine river valley. In addition to this the paper attempts diluting the blame by saying that the fighter jets were just hot-dogging, also claiming that the Italian authorities condone low-flying: Italian military officials routinely defended low level flights Finally, the last paragraph of the report supplies an extravagantly tenuous link: The pope had personally pleaded for the convicted murderer to be pardoned. This is designed to conceal. All three articles made use of interviews, but the manner in which they were used differed; For example in The Mirror, a British couple, Neil Harmar and his girlfriend, Stacey ODonnell, gave a lengthy interview and informed us that they missed the second car by minutes. They said that all hell let loose and stated that they were shook up. Furthermore, they described the village as being in a state of complete pandemonium. The couple reiterated how thankful they were that they missed that car, and the fact that they were incredibly lucky to be alive. Even though the British couple did not provide a lot of information about the incident itself, they did help to describe the atmosphere and their feelings on the situation. The British couple were interviewed primarily because of the fact that they were British; the target audience of this British paper are British people, therefore, the majority of people would be interested in hearing about events concerning British citizens. All three articles had interviews with people who possessed various details about the aircraft prior to it hitting the cable car wire. In The Mirror, this interview was quite brief. Cristina Antoniazzi, the owner of a nearby hotel, said that she heard and saw a plane flying at a very low level. This message was also present in an interview in The Times. An anonymous witness said that the jet had seemed to have technical trouble, and described the jet as screaming through the sky like a thing in torment. Another source in The Times also stated that the jet had been flying very, very low. All three of these interviews were supplied using direct speech. In contrast, the interview in Newsweek was given using reported speech- Italys Air Force chief, Mario Arpino, said that the Prowler was four miles off course and was also flying 3,300 feet below the altitude designated in the flight plan. These particular interviews were used in order to provide an image of the events immediately before the plane hit the cable car. Each article also had interviews with people who objected to low flying by the Americans. In The Mirror, Regional President, Carlo Andreotti, was quoted as saying Weve had enough of these war games The headline of The Mirrors article is, 20 skiers killed as jet slices cable car wire The writer has used the word skiers to create more sympathy to the people that died as it shows that they were just innocent people on holiday who wanted to have a good time. The headline says killed as to imply it was not totally accidental and could have been prevented, it also shows it was unprovoked. It also says slices as this makes the incident sound more violent and deliberate and gives the reader the idea that there was no chance for the skiers inside the cable car. The article also has a few more presentational devices which the broadsheet the times does not. It has a subtitle Brits tell of horror in snow which relates to the reader as they will be British too and will want to know what this horror is. The first paragraph is in bold, which shows it is different from the rest of the article because it is there to sum up the rest of the article. The article has a box with a quote in it It opened up like a cardboard box This would attract attention to the article if the reader was flicking through the newspaper and would want to know more. At the end of the article there is a big bullet point which contains a fact about cable car accidents. This article uses language to create a much more emotional impact than The Times as it says things like, They were killed instantly when the car was ripped apart like a cardboard box. Using this metaphor is very effective as it makes the people inside seem totally helpless and creates a lot of sympathy for them. They also say, Rescuers found now survivors amid the tangled wreckage and bloodstained snow. I think this is a very effective paragraph and it creates an atmosphere of destruction and complete devastation. A graphical picture of the event in The Mirror lets the readers visualize what the scene of the accident was like, using essential details and words so that the reader can effortlessly understand the unpleasant incident. The Mirror also provides a photographical image of the scene and annotates it using dramatic words such as doomed. The Times shows a map of the area where the event was situated, making readers aware of the location of the tourist venue. And the image of the EA-6B Prowler shows readers the cause of the tragedy. The main image above the text is eye catching in the way it shows workers trying to rescues any survivors. Newsweek not using any pictures, but a headline that will catch attention Blood on the Snow. The sub-heading in a box of two lines standing out making the reader aware of what the article is about. In conclusion the news was best portrayed in The Mirror, it provided names of witnesses making the news much more reliable, and British citizens used as witnesses was also a good way to grad attention of British readers.

Pearl Harbor :: essays research papers

Pearl Harbor was certainly one of the most dramatic turning points in United States history, with all the elements that go along with an epic drama: heroes, villains, propaganda and conspiracy theories. It propelled the country from an isolationist continent into the spotlight on the world stage. World War II changed the way the world viewed the United States and how Americans viewed themselves. As a result of Pearl Harbor and the war the United States accepted the predominant world leadership role. The tragedy of Pearl Harbor shocked and united the American people into a singular purpose and goal to a greater extent than any other event before or since. As Americans awoke on a lazy Sunday morning in paradise, little did they know that within a few short minutes their lives would be changed forever. Sailors, Soldiers and Airmen watched in horror as the United States fleet including the mighty dreadnoughts burned and sank to the bottom of the shallow blue harbor. The calamity incited mass chaos and confusion. Numerous false rumors were spread including that Japanese paratroopers were invading Hawaii and that follow-on assaults were imminent. Above all, no one knew how to react since this was the first time since the War of 1812 that Americans were attacked on their own soil. As the nation was just recovering from the Great Depression, with optimism in the horizon the American people really had no desires to involve themselves in foreign wars. However President Franklin Roosevelt was aware of the actions taking place in Europe and Asia and could foresee the United States inevitable danger to the free world if the United States didn't take a stand in the war. While Americans favored neutrality the United States administration knew that it would only be a matter of time until the United States would enter the war. The convenient timing of Pearl Harbor allowed Roosevelt's unhindered pursuit of his interventionist agenda. This along with certain details, such as the lack of aircraft carriers at Pearl Harbor, led some to believe Roosevelt had forewarning of the attack and intentionally provoked the Japanese to open the backdoor to war. Twenty three hours after the initial aggression, Roosevelt declared war and ensured that, "This day will live in infamy†¦" in his address to Congress. In the end Americans pulled through and became their own heroes; Admiral Yamamoto's made a prophetic remark shortly after December 7, "I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve". Pearl Harbor :: essays research papers Pearl Harbor was certainly one of the most dramatic turning points in United States history, with all the elements that go along with an epic drama: heroes, villains, propaganda and conspiracy theories. It propelled the country from an isolationist continent into the spotlight on the world stage. World War II changed the way the world viewed the United States and how Americans viewed themselves. As a result of Pearl Harbor and the war the United States accepted the predominant world leadership role. The tragedy of Pearl Harbor shocked and united the American people into a singular purpose and goal to a greater extent than any other event before or since. As Americans awoke on a lazy Sunday morning in paradise, little did they know that within a few short minutes their lives would be changed forever. Sailors, Soldiers and Airmen watched in horror as the United States fleet including the mighty dreadnoughts burned and sank to the bottom of the shallow blue harbor. The calamity incited mass chaos and confusion. Numerous false rumors were spread including that Japanese paratroopers were invading Hawaii and that follow-on assaults were imminent. Above all, no one knew how to react since this was the first time since the War of 1812 that Americans were attacked on their own soil. As the nation was just recovering from the Great Depression, with optimism in the horizon the American people really had no desires to involve themselves in foreign wars. However President Franklin Roosevelt was aware of the actions taking place in Europe and Asia and could foresee the United States inevitable danger to the free world if the United States didn't take a stand in the war. While Americans favored neutrality the United States administration knew that it would only be a matter of time until the United States would enter the war. The convenient timing of Pearl Harbor allowed Roosevelt's unhindered pursuit of his interventionist agenda. This along with certain details, such as the lack of aircraft carriers at Pearl Harbor, led some to believe Roosevelt had forewarning of the attack and intentionally provoked the Japanese to open the backdoor to war. Twenty three hours after the initial aggression, Roosevelt declared war and ensured that, "This day will live in infamy†¦" in his address to Congress. In the end Americans pulled through and became their own heroes; Admiral Yamamoto's made a prophetic remark shortly after December 7, "I fear all we have done is to awaken a sleeping giant and fill him with a terrible resolve".

Hack Me Once, Phreak Me Twice :: Computers Technology Hacking Hackers Papers

Hack Me Once, Phreak Me Twice There are a few elite in our technology-driven world that possess the unnatural ability to understand and wield the power of computers. To the media they are known as hackers, threats to computer security everywhere. To the underground they are known as "console cowboys", samurais, and the last defenders of free information. To the common man they are young teenage boys that break your computer and ruin your e-mail. Hackers are not criminals or mischievous kids with no purpose. They play an important role in our culture and are the fuel behind our technological revolution. Before we can fully understand the mind of a hacker, we need to look at the history of hacking. Hacking is usually broken up into three time periods: The Elder Days, The Golden Age, and Zero Tolerance. The Elder Days were the years from 1965-1979 when the "hackers" emerged from the computer labs of MIT, Cornell, and Harvard. These computer geeks of the 60's had an incurable thirst to know how machines worked, specifically computers. While professors were trying to teach structured, mathematical programming, students were staying up late nights "hacking" away at their programs until they found shorter and more elegant solutions to the problems. This process of "bumming code" contradicted the professors' methods, and so began the defiant and rebellious origins of hackers. This time period produced one of the best hacks of all time, when Dennis Ritchie and Ken Thomson of Bell Labs created the operating system UNIX in 1969. This primitive operating system was written by hackers, for hackers. There was now a standard to run programs on, although it required an enormous amount of knowledge of computers for even the simplest tasks. As a consequence of UNIX, the 1970's became all about exp loring and figuring out how the computer world worked. In 1971, a hacker found out how to get free calls from AT&T by emitting a 2600 MHz tone into the receiver. He called himself "Cap'n Crunch" because he used the free whistle that came in the cereal box to give off the 2600 MHz tone. From this, a new type of hacking gained popularity, one that did not deal specifically with computers but rather with telephones. Hackers like Cap'n Crunch were called "phreaks", for "phone freaks." So, fittingly, hacking phones is known as "phreaking." As more phreakers and hackers emerged, they needed a way to communicate with each other.

Nike †SWOT Analysis Essay

STRENGTHS Nike is a very competitive. It has a huge and healthy dislike of its competitors. At Atlanta Olympics, its competitor Reebok went on expense of sponsoring the games but Nike didn’t take this step. It sponsored top athletes and gained much coverage. Nike does not have factories. It does not let its cash to tie up in buildings and manufacturing employees. This model makes it a very lean organization. They manufacture high quality product at a location which offers low prices. If price gets increased, it shifts to other production location. Nike has a very strong research and development area which can be seen in its innovative product range. Nike is a global brand. It is at top position in sport brand in the World. Its famous â€Å"Swoosh† logo is instantly recognizable by people. Nike is a very professional company. It has offices in 45 different countries. It offers products all over the world. It is a fortune 500 company. It has very strong marketing campaign that increases the familiarity of its brand. It employs over 30,000 employees across the world. It has got its retail chain – Niketown. It has taken initiatives in many different branding opportunities and resulted in impressive outcomes. It provides lightweight shoes by using lunarlite materials. (Nike SWOT Analysis) WEAKNESS Though Nike has varied range of sports products but still its business’s income is depends heavily on the share of footwear market it has got. So, in case its market share decreases, it can leave the company becomes vulnerable to come down. Though Nike has got its own retailer: Niketown, its huge part of income comes from selling into retailers. And retail sector is very sensitive as well. Retailers also provide same set of experiences to customers. So, the profit margin will get affected if retailers try to sell off the products at lower prices. It has got charges against labor violations; experienced bad publicity with issues of sweatshops and practicing unethical patterns has degraded its image to some extent. Its  history involves the violations of minimum wage rates in Vietnam. For cheaper prices, it has been charged for exploiting workforces which will be employed at lower price in overseas countries. It’s been accused of providing poor working conditions to the workers. It gets constant negative criticism from anti-globalization groups. Its production is carried out at a cheaper location, so majorly it happens outside U.S. But this practice is not considered good in U.S. (Swot Analysis Nike) (Nike SWOT Analysis) OPPORTUNITY 1. The development of product range offers Nike many opportunities. Though Nike owners don’t consider its brand as a fashionable one but its customers consider it so. They don’t buy it for sports activities only. It has become a fashion trademark among customers especially the youth. This creates huge opportunities for Nike as the product could come under unfashionable tag before it wears out i.e. shoes gets replaced by the customers. 2. Opportunity also lies in developing sports wears, sunglasses and jewellery. These high end valued items will surely get associated with their mainline products. 3. It can develop its business internationally which can give strength to its global brand recognition. There are many emerging countries like China and India which offers disposable income to be spent on high value sports products. These countries have growing number of customers especially the working population. 4. There are many global sports events such as the World cup (So ccer) and the Olympics, which can be used as global marketing events. They can support the brand of the company. 5. Company can extend its reach in trendy and fashionable industry where not only Athletes but general population is also targeted. 6. There is a scope of new sponsorships. These new sponsors usually have successful ways to brandize an organization. 7. It can create new products by using waste from usual manufacture. 8. It can expand into jewellery and sunglasses items. 9. It can change its product development strategy with change in trends. 10. It can reduce controversy occurring around its business practices. (SWOT Analysis Nike, Inc.) THREATS 1. Nike has its business in several countries i.e. it is been exposed to international behavior of trade. It manufactures and sells in different  currencies. Hence costs and profit margin will fluctuate over a longer period of time. This nature of trade can put Nike on loss side. 2. The market of sports shoes is very competitive. Hence the business model developed by the owners of Nike is no longer in use. It needs to come up with a sustainable model so as to remain in the race. 3. Market is flooded with competitors who are developing alternative brands to take Nike’s market share. 4. As we have observed that retail sector is very competitive. This means customers have got lot of options available at one’s end. So if one store charges a price for a product, consumer can go to other store if that store is selling the same quality price at lower rates. Hence price sensitivity is a huge threat to Nike. 5. A global business usually experiences hiccups because abroad busin ess operations are exposed to risks of fluctuations in currencies, quotas, safeguard measures, restrictions in trades and terrorism. 6. Its exposed to risks associated with importing costs because of international barriers 7. It needs to maintain reputation as one of the eco-friendly organizations. 8. It is difficult for them to manage financial conditions in today’s economy. 9. Its association with Kobe Bryant. 10. It’s been accused for unfair labor practices. (Nike SWOT Analysis) Works Cited Nike SWOT Analysis. (n.d.). Retrieved from www.teamonedesign.com: www.teamonedesign.com/aio/mk/Nike_SWOT_Analysis.doc Swot Analysis Nike. (n.d.). Retrieved from http://www.quality-assurance-solutions.com: http://www.quality-assurance-solutions.com/swot-analysis-nike.html SWOT Analysis Nike, Inc. (n.d.). Retrieved from http://www.marketingteacher.com: http://www.marketingteacher.com/swot/nike-swot.html#

Hangover Remedies and Prevention

Hangover Remedies and Prevention A hangover is a name given to the unpleasant aftereffects of drinking too much alcohol. While a lucky 25%-30% of drinkers are naturally resistant to experiencing hangovers, the rest of you might want to know how to prevent or cure a hangover. Heres a look at what causes a hangover and some effective hangover remedies. Hangover Symptoms If you have had a hangover, you knew it  and didnt need to read a symptom list to get a diagnosis. Alcohol hangovers are characterized by some or all of the following symptoms: dehydration, nausea, headache, fatigue, fever, vomiting, diarrhea, flatulence, sensitivity to light and sound, trouble sleeping, difficulty concentrating, and poor depth perception. Many people experience an extreme aversion to the smell, taste, sight, or the thought of alcohol. Hangovers vary, so the range and intensity of symptoms may be different between individuals and from one occasion to another. Most hangovers begin several hours after drinking. A hangover may last as long as a couple of days. Hangover Causes According To Chemistry Drinking an alcoholic beverage that contains impurities or preservatives can give you a hangover, even if you only have one drink. Some of these impurities may be other alcohols besides ethanol. Other hangover-causing chemicals are congeners, which are by-products of the fermentation process. Sometimes impurities are intentionally added, such as zinc or other metals which may be added to sweeten or enhance the flavor of certain liqueurs. Otherwise, it matters what you drink and how much you drink. Drinking to excess is more likely to cause a hangover than drinking moderately. You get a hangover because the ethanol in the drink caused an increase in urine production, leading to dehydration. Dehydration causes headaches, fatigue, and dry mouth. Alcohol also reacts with the stomach lining, which can lead to nausea. Ethanol is metabolized into acetaldehyde, which is actually a lot more toxic, mutagenic, and carcinogenic than the alcohol itself. It takes some  time to break down the ace taldehyde into acetic acid, during which youll experience all the symptoms of acetaldehyde exposure. Prevent a Hangover The only sure way to prevent a hangover is to avoid drinking. While you may not be able to totally prevent a hangover, drinking a lot of water or other rehydrating drink will go a long way toward preventing or lessening most hangover symptoms. Hangover Remedies If drinking water didnt help you out enough or its too later and youre already suffering, there are some potentially beneficial remedies. Drink Water: Youll feel miserable until you are rehydrated. Water is an excellent hangover remedy. So is orange juice, unless your stomach is too upset to handle it.Eat Something Simple: Eggs contain cysteine, which may help combat hangover symptoms. Milk is more food than water, but it serves to rehydrate you while supplying calcium, which may ease your misery.Sodium Bicarbonate: Try a spoonful of baking soda in water to help quell the hangover queasiness.Exercise: It raises your metabolic rate, which helps you clear toxins associated with metabolizing alcohol. Exercise helps you deliver oxygen to your cells, which can increase the speed at which you detoxify harmful compounds.Oxygen: Supplemental oxygen is another way to speed up detoxification after drinking alcohol, without having to exercise.Vitamin B1 or Thiamine: Thiamine helps prevent the buildup of glutarate in the brain, which may be associated with part of a headache associated with a hangover. Other B vitamins are deplete d when you drink, so taking a B vitamin complex may be beneficial. Hangover Dont While it may be alright to take a couple of aspirin to deal with a hangover, dont take a couple of acetaminophen (Tylenol) tablets. Alcohol with acetaminophen is a recipe for potentially lethal liver damage.

Attitudes on Immigrants

Attitudes on Immigrants Introduction Attitudes can be described as narrow when they mirror positive or negative assessment of an entity and wide ranging when they comprise principles with the character of assessment (Schuman, Charlotte, Lawrence Maria, 1997). Either way, they can be positive and accommodating or negative and stand-offish.Advertising We will write a custom essay sample on Attitudes on Immigrants specifically for you for only $16.05 $11/page Learn More White people generally hold varying attitudes towards immigrants and pro-immigrant policies, that is, policies that favour immigration. Pessimists feel that immigrants should not benefit from pro-immigrant policies for various reasons. They are of the opinion that immigrants seize career opportunities from American born citizens, the state uses up a lot of money aiding them and that their presence leads to escalation of delinquency and law-breaking. Optimists on the other hand have entirely different views. They belie ve that immigrants contribute to advancement in America by coming up with fresh initiatives, enhancing their culture and are beneficial to Americas economy in general. They further express that officially authorized immigrants who are not American citizens should be given similar rights and freedoms to those of citizens and that children of non-citizens who are born in America should have the right to citizenship. These attitudes and subsequent opinions are shaped mainly by core networks (a person’s contacts), group threat from immigrants or intergroup contact with immigrants. They are further influenced by race, education level, age and religion of members of the core networks. Core Networks Core networks focus on particular people and those with whom they socialize. It is believed that a person’s opinion is often shaped by the opinion of their friends and acquaintances (Friedkin, 1990).Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More This is because a friend is someone you trust, open up to, compel, aspire to please and who enlightens you when you are shaping your opinion on people of different races and ethnic backgrounds and the government procedures that affect them (Friedkin 1990). In a community setting, white peoples’ opinions on immigrants are influenced by the total number of people from other races, how learned the occupants of the community are, the period for which they have been acquainted and how close they are. Ordinarily, in a community with many people, close associates reduce hence the likelihood of being compelled to be consistent with the accepted communal tendencies dwindles. This raises the probability of encountering recent facts and knowledge concerning a wide range of topics. Core networks however, tend to consist of people of similar ethnicity hence diminishing the possibility of encountering recent knowledge. This is due to the fact that people of the same ethnicity have the same understanding of ethnic benefit (Blau, 1977). On the other hand, when core networks consist of members of diverse cultural backgrounds, they share knowledge that benefits the different cultures (Bienenstock, Bonacich Oliver; 1990). White people who associate with other races have a high probability of being informed on immigrant-friendly reason thus improving their attitude towards immigrants. Peoples’ attitudes are also affected by how learned they are. Highly learned people associate with more people of diverse racial backgrounds. This is mainly because they work with a wide range of people. This cultivates a sensitive stance towards immigrants and immigration policies that favour them.Advertising We will write a custom essay sample on Attitudes on Immigrants specifically for you for only $16.05 $11/page Learn More A professor in a college, for instance, is likely to have students of different ethnicities in his classes. This exposes him to their beliefs, practices and helps him see their contribution to America’s culture and economy. Subsequently, he exposes his colleagues, friends and family to those views and they do the same in their social circles. This shows that an educated network can influence peoples’ views on immigration and immigration policies. Age on the other hand seems to have an unenthusiastic association with immigration issues. Mature people see immigrants more as a burden than as profitable contributors in society thus support more constraints being placed in immigration processes and immigrants. Accordingly, in deep-rooted core networks, people are likely to be convinced not to uphold pro-immigrant views. The closeness of the members of a core network also determines their ability to influence each others’ opinions on immigrant issues. When people in a core network are very close, they are constantly in contact with each other and therefore reserve little, if any time for the people outside their social circles (Oliver Wong, 2003). This kind of behavior drastically lowers their chances of encountering notions that differ from their points of view and makes it much easier to convince ones’ contacts to maintain ancient views on issues such as immigration. In most cases, the maintained views are usually negative and unsupportive of pro-immigration policies. Group Threat and Intergroup Contact In the surroundings of a community, white residents are likely to either get acquainted with immigrants, known as intergroup contact, or feel intimidated by the large numbers of immigrants around them, referred to as group threat.Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More The probability of these two occurrences is frequently estimated using the population of immigrants in a particular area (Krystan, 2000). White people are set in various core networks within their communities which are depended upon by researchers to influence the connection between immigration issues, group threat and intergroup contact. Whites feel threatened by the large numbers of immigrants in urban areas such as cities and counties. This depreciates their general outlook on immigration issues specifically when their level of education is low and also in cases where they happen to have few associations of different racial and ethnic backgrounds in their social circles. Then again, when members of a social circle are well learned or have numerous relations in it, including several of varying ethnicities, they tend to feel less threatened by the presence of many immigrants. This is due to the fact that they obtain current knowledge concerning immigrants and immigration policies f rom their contacts and co-workers (Oliver Wong 2003). In the same way, places that experience constructive intergroup contact such as residential estates and zonal localities, these relations encourage an optimistic outlook on immigration policies and immigrants in the case that correlations are poorly educated and have few contacts of different races. This is because the views of the immigrants seem more genuine than those of their fellow whites. However, in those very areas, social circles of the incredibly learned that also have numerous contacts of different ethnicities may appear less supportive of immigration policies and immigrants. This is caused by their various negative personal experiences with their associations of different ethnicity. They feel that direct dealings with people of various cultural backgrounds gives more insight than that gained from a particular inter-racial contact (Friedkin 1999). Likewise, the members of a social circle in an ancient close knit commu nity or neighborhood are less likely to be impressed by intergroup contact. Such people constantly stay in touch hence maintain their beliefs since they have limited knowledge from other quarters. The members are mostly compelled to disapprove any positive opinions on immigrants and immigration policies social circles. In addition, these core networks may experience more intense feelings of group threat as opposed to the more amicable youthful social circles which share positive knowledge of immigrant issues hence fell less threatened by the number of immigrants among them. In a strong and mature religious core network, members hold on to old teachings. Some old religions, for instance, did not allow mixing of people from different races. Members of such groups are likely to remain unyielding to recent opinions supporting immigration policies. Members of newly rising religions however, will probably be more accommodating of the recent pro-immigrant policies. Conclusion Based on the studies conducted by various scholars over several decades, it is evident that attitudes of white people towards immigrants and pro-immigrant policies are influenced by both dependent and independent variables. Independent variables are those that remain constant and do not change from person to person whereas dependent variables are those that vary from one person to another. A survey conducted using data collected by the National Opinion Research Center (NORC) confirms the opinions of the numerous scholars. In my opinion, Americans should strive to be more open-minded and receptive to new ideas. All people should endeavor to make their social networks broader so as to accommodate more people. This kind of contact will allow people of all races to take part in improvement of their lives socially, economically, religiously and politically. This will be a major team player in the advancement of many sectors including the economy and will lead to overall national development. After al l, there is nothing to lose in setting out to try something new, which in this particular case does not cost money. People should also learn to take responsibility and avoid the blame game. For instance, Americans should acknowledge that there are as many white felons as there are those of other races, whether white or blue collar. They should also realize that contrary to some peoples’ beliefs sharing opportunities with people of other ethnic groups does not limit them to Americans. References Bienenstock, E.J., Bonacich, P., Oliver, M. (1990). The Effect of Network Density and Homogeneity on Attitude Polarization. Social Networks, 12, 153–72. Blau, P.M. (1977). Inequality and Heterogeneity: A Primitive Theory of Social Structure. New York: Free Press. Friedkin, N. (1990). Social Networks in Structural Equation Models. Social Psychology Quarterly, 53, 316–28. Krystan, M. (2000). Prejudice, Politics, and Public Opinion: Understanding the Sources of Racial Polic y Attitudes. Annual Review of Sociology, 26, 135–68. Oliver, J.E., Wong, J. (2003). Intergroup Prejudice in Multiethnic Settings. American Journal of Political Science, 47, 567–82. Schuman, H., Charlotte, S., Lawrence, B., Maria, K. (1997). Racial Attitudes in America: Trends and Interpretations. Cambridge, MA: Harvard University Press.

Biography of Nikita Khrushchev

Biography of Nikita Khrushchev Nikita Khrushchev (April 15, 1894- September 11, 1971) was the leader of the Soviet Union during a critical decade of the Cold War. His leadership style and expressive personality came to represent Russians hostility toward the United States in the eyes of the American public. Khrushchevs aggressive stance against the West culminated in the standoff with the United States during the Cuban Missile Crisis of 1962. Fast Facts: Nikita Khrushchev Full Name: Nikita Sergeyevich KhrushchevKnown for: Leader of the Soviet Union (1953–1964)Born: April 15, 1894, in Kalinovka, RussiaDied: September 11, 1971 in Moscow, RussiaSpouses Name: Nina Petrovna Khrushchev Early Life Nikita Sergeyevich Khrushchev was born April 15, 1894, in Kalinovka, a village in southern Russia. His family was poor, and his father at times worked as a miner. By the age of 20 Khrushchev had become a skilled metalworker. He hoped to become an engineer, and married an educated woman who encouraged his ambitions. Following the Russian Revolution in 1917, Khrushchevs plans changed profoundly as he joined the Bolsheviks and began a political career. During the 1920s he rose from obscurity to a position as an apparatchik in the Ukrainian Communist Party. In 1929, Khrushchev moved to Moscow and took a position with the Stalin Industrial Academy. He rose to positions of increasing political power in the Communist Party and was undoubtedly complicit in the violent purges of the Stalin regime. During World War II, Khrushchev became a political commissar in the Red Army. Following the defeat of Nazi Germany, Khrushchev worked at rebuilding Ukraine, which had been devastated during the war. He began to gain attention, even to observers in the West. In 1947 The New York Times published an essay by journalist Harrison Salisbury headlined The 14 Men Who Run Russia. It contained a passage on Khrushchev, which noted that his current job was to bring the Ukraine fully into the Soviet fold and that, in order to do so, he was carrying out a violent purge. In 1949, Stalin brought Khrushchev back to Moscow. Khrushchev became involved in the political intrigue within the Kremlin which coincided with the Soviet dictators failing health. Rise to Power Following Stalins death on March 5, 1953, Khrushchev began his own rise to the top of the Soviet power structure. To outside observers, he was not viewed as a favorite. The New York Times published a front-page article following Stalins death citing four men expected to succeed the Soviet leader. Georgy Malenkov was presumed to be the next Soviet leader. Khrushchev was mentioned as one of about a dozen figures believed to hold power within the Kremlin. In the years immediately following Stalins death, Khrushchev managed to outmaneuver his rivals, including notable figures such as Malenkov and Vyacheslav Molotov. By 1955, he had consolidated his own power and was essentially leading the Soviet Union. Khrushchev chose not to become another Stalin, and actively encouraged the process of de-Stalinization that followed the dictators death. The role of the secret police was curtailed. Khrushchev was involved in the plot which ousted the feared head of the secret police, Lavrenti Beria (who was tried and shot). The terror of the Stalin years was denounced, with Khrushchev evading his own responsibility for purges. In the realm of foreign affairs, Khrushchev aggressively challenged the United States and its allies. In a famous outburst aimed at Western ambassadors in Poland in 1956, Khrushchev said the Soviets would not have to resort to war to defeat its adversaries. In a quote that became legendary, Khrushchev bellowed, Whether you like it or not, history is on our side. We will bury you. On the World Stage As Khrushchev enacted his reforms within the Soviet Union, the Cold War defined the era internationally. The United States, led by World War II hero President Dwight Eisenhower, sought to contain what was viewed as Russian communist aggression in trouble spots around the world. In July 1959, a relative thaw in Soviet-American relations occurred when an American trade fair opened in Moscow. Vice president Richard Nixon traveled to Moscow and had a confrontation with Khrushchev that seemed to define the tensions between the superpowers. The two men, standing next to a display of kitchen appliances, debated the relative virtues of communism and capitalism. The rhetoric was tough, but news reports noted that no one lost their temper. The public argument became instantly famous as The Kitchen Debate, and was reported as a tough discussion between determined adversaries. Americans got an idea of Khrushchevs stubborn nature. A few months later, in September 1959, Khrushchev accepted an invitation to visit the United States. He stopped in Washington, D.C., before traveling to New York City, where he addressed the United Nations. He then flew to Los Angeles, where the trip seemed to veer out of control. After expressing abrupt greetings to local officials who welcomed him, he was taken to a movie studio. With Frank Sinatra acting as the master of ceremonies, dancers from the film Can Can performed for him. The mood turned bitter, however, when Khrushchev was informed that he would not be allowed to visit Disneyland. The official reason was that local police couldnt guarantee Khrushchevs safety on the long drive to the amusement park. The Soviet leader, who was not used to being told where he could go, erupted in anger. At one point he bellowed, according to news reports, Is there an epidemic of cholera there or something? Or have gangsters taken control of the place that can destroy me? At one appearance in Los Angeles, the mayor of Los Angeles, made reference to Khrushchevs famous we will bury you remark from three years earlier. Khrushchev felt he had been insulted, and threatened to return immediately to Russia. In Iowa, Khrushchev enjoyed his first hot dog. Getty Images   Khrushchev took a train northward to San Francisco, and the trip turned happier. He praised the city and engaged in friendly banter with local officials. He then flew to Des Moines, Iowa, where he toured American farms and happily posed for the cameras. He then visited Pittsburgh, where he debated with American labor leaders. After returning to Washington, he visited Camp David for meetings with President Eisenhower. At one point, Eisenhower and Khrushchev visited the presidents farm in Gettysburg, Pennsylvania. Khrushchevs tour of America was a media sensation. A photo of Khrushchev visiting an Iowa farm, smiling broadly as he waved an ear of corn, appeared on the cover of LIFE magazine. An essay in the issue explained that Khrushchev, despite appearing friendly at times during his trip, was a difficult and unyielding adversary. The meetings with Eisenhower had not gone very well. The following year, Khrushchev returned to New York to appear at the United Nations. In an incident that became legendary, he disrupted the proceedings of the General Assembly. During a speech by a diplomat from the Philippines, which Khrushchev took as insulting to the Soviet Union, he removed his shoe and began rhythmically banging it against his desktop. To Khrushchev, the incident with the shoe was essentially playful. Yet it was portrayed as front-page news that seemed to illuminate Khrushchevs unpredictable and threatening nature. Cuban Missile Crisis Serious conflicts with the United States followed. In May 1960, an American U2 spy plane was shot down over Soviet territory and the pilot was captured. The incident provoked a crisis, as President Eisenhower and allied leaders had been planning for a scheduled summit meeting with Khrushchev. The summit occurred, but it went badly. Khrushchev accused the United States of aggression against the Soviet Union. The meeting essentially collapsed with nothing accomplished. (The Americans and Soviets eventually made a deal to swap the U2 planes pilot for an imprisoned Russian spy in America, Rudolf Abel.) The early months of the Kennedy administration were marked by accelerated tensions with Khrushchev. The failed Bay of Pigs Invasion created problems, and a June 1961 summit between Kennedy and Khrushchev in Vienna was difficult and produced no real progress. President Kennedy and Khrushchev at their Vienna summit.   Getty Images In October 1962, Khrushchev and Kennedy became forever linked in history as the world suddenly seemed to be on the brink of nuclear war. A CIA spy plane over Cuba had taken photographs which showed launch facilities for nuclear missiles. The threat to Americas national security was profound. The missiles, if launched, could strike American cities with virtually no warning. The crisis simmered for two weeks, with the public becoming aware of the threat of war when President Kennedy gave a televised speech on October 22, 1962. Negotiations with the Soviet Union eventually helped defuse the crisis, and the Russians ultimately removed the missiles from Cuba. In the aftermath of the Cuban Missile Crisis, Khrushchevs role in the Soviet power structure began to decline. His efforts to move on from the dark years of Stalins brutal dictatorship were generally admired, but his domestic policies were often seen as disorganized. In the realm of international affairs, rivals in the Kremlin viewed him as erratic. Fall From Power and Death In 1964 Khrushchev was essentially deposed. In a Kremlin power play, he was stripped of his power and forced to go into retirement. Khrushchev lived a comfortable retired life in a house outside Moscow, but his name was purposely forgotten. In secret, he worked on a memoir, a copy of which was smuggled out to the West. Soviet officials denounced the memoir as a forgery. It is considered an unreliable narration of events, yet it is believed to be Khrushchevs own work. On September 11, 1971, Khrushchev died four days after suffering a heart attack. Though he died in a Kremlin hospital, his front-page obituary in The New York Times noted that the Soviet government had not issued an official statement on his passing. In the countries he had delighted in antagonizing, Khrushchevs death was treated as major news. However, in the Soviet Union, it was largely ignored. The New York Times reported that a small item in Pravda, the official government newspaper, reported his death, but avoided any praise of the man who had dominated Soviet life for a decade. Sources: Khrushchev, Nikita. UXL Encyclopedia of World Biography, edited by Laura B. Tyle, vol. 6, UXL, 2003, pp. 1083-1086. Gale Virtual Reference Library.Nikita Sergeevich Khrushchev. Encyclopedia of World Biography, 2nd ed., vol. 8, Gale, 2004, pp. 539-540. Gale Virtual Reference Library.Taubman, William. Khrushchev, Nikita Sergeyevich. Encyclopedia of Russian History, edited by James R. Millar, vol. 2, Macmillan Reference USA, 2004, pp. 745-749. Gale Virtual Reference Library.

TV NEWS PAPER INSTRUCTIONS Term Example | Topics and Well Written Essays - 750 words

TV NEWS INSTRUCTIONS - Term Paper Example Now†¦This, as used on television and radio, is a suggestion that the new idea has nothing to do with the original idea that existed. A newscaster usually tries to shift individual’s attention from the original thing. Postman has been passionate in explaining how the newscasters have been deviating from the context, this he explains in the metaphor, no particular object is attacked, he uses other objects like the television as the metaphor in explaining some thoughts. The thought of deviating from the main context is explained giving a self-evident explanation (Postman, pp 112-167). For example, the story about a childs murder appeared in the news, this was only explained in only forty five seconds than the newscaster says "And now†¦this when introducing segment on a local brake sale, these two different stories aired next to each other can be seen as insulting the first story, although it has now been peoples  expectation when receiving the news. The metaphor has been used to describe the common discourse of the television age. When watching a story in a television, a lot of commercial brakes are in between the stories; these are used to lessen the reflection on particular experiences (Kenney, pp67-119). Changing channels also means getting different stimuli; this shortens the time used to reflect on what meaning the stimuli has on peoples lives. In his comparison of the culture of Now†¦This, to forms like schizophrenia, Postmans implication was that individuals have no cohesive identity in such a world, alternatively, we have a collection of unrelated experiences, non-directional, since the information is void of context (Postman, pp 112-167). Practical implications to the dangers of common discussion to the television age include the dangers it will pose on children. The children are introduced to multitasking while neglecting being attentive, multitasking will at its best while attention will be at its worst.

The Evolution and transformation of the American kitchen Research Paper - 1

The Evolution and transformation of the American kitchen - Research Paper Example The preliminary commencement of American architecture dates back to the regal tradition of the United States and the practices that transpired as a result of the evacuation of European background. The American melting vessel grew and both the edifice and planning practices advanced. This in turn led to the dawn of the colonial style which became the cornerstone of the architectural progress of the United States. The outstanding consideration of these designs focus on the balance between classical and gothic ideals. Some of the common European monuments like Gloucestershire serve as benchmark for this piece of work. It therefore goes without objection that the kitchen is inextricably correlated to this discovery. The hearth remains in various historical sites helps to establish the dating of this. Instead of the fridges of the 19th century, root cellars were used to maintain the cold temperature of foods during summers and offered a conducive environment for preservation of food stuff s during winter (Smith 76). Another preservative method during the ancient kitchen era was the smoke house. It was very vital for preservation of both fish and meat. The early hearths invented were either of clay or stone origin. The hearths could either be deep or shallow, depending on the size of the homesteads. The fire places had fixed revolving spits and clips that could be used to hang meat. This had to be substituted with the wake of change though gradual. Pertaining to this urge of putting up a desired kitchen, there emerged a bottleneck.

How to support an area of personalised learning in the primary Essay

How to support an area of personalised learning in the primary classroom Children with ADHD disorder - Essay Example 2009). In the United Kingdom, attention deficit hyperactivity disorder is a very common behavioural disorder that affects around 4% of school-aged children and youths (Robertson, 2008). Among the children, there is more diagnosis of ADHD in boys than in girls, indicating that most ADHD cases in primary schools involve boys than girls. Since this disorder affects learning and consequently performance of children in school, it is necessary for the teacher to use personalised learning. This paper is going to focus on how to support an area of personalised learning in the primary classroom. Thus, in order to handle a class of children with ADHD, a teacher should rely on the behaviour and discipline area of personalised learning (Maguire, Ball, & Braun, 2010). ADHD children are of special needs since they are easily distracted and talkative; they are very interruptive and impatient hence need extra help in learning. In this case, the teacher needs to understand how behaviour difficulties develop and are maintained to provide ample support to pupils ensuring that their needs are met (Humphrey & Lewis, 2008). Personalised learning relates to the behaviourism theory of education whereby the behavioural theory states that behaviour results from individuals’ learning from the environment in which they live (Sallis, Owen, & Fisher, 2008). The implication is that reinforcement will strengthen behaviour whereas those conducts not reinforced will disappear. In practice, the teacher should impose rewards and sanctions to encourage or discourage a given behaviour. However, it should be noted that these rewards or sanctions need to be applied disproportionately, such that not everything that a child does is criticised. For instance, teachers can use timers to set limits when children take turns in a group, and should praise those pupils who stay calm until lesson end without interrupting (Wyckoff & Unell, 2010). The

Plagiarism Coursework Example | Topics and Well Written Essays - 250 words

Plagiarism - Coursework Example When three or more words are used in a sentence from the original source and there is no clear citing, plagiarism occurs. The writer does not appropriately cite the sources used. He or she should have included in-text citation in the passage to avoid plagiarism (Strout & Frame, 2004, p. 171-181). The student should have used direct quotation in writing about doctors whose allegiance is always torn between the drug researchers and trustworthy consumers, leaving the important lot, the patients, unattended. Paraphrasing involves taking someone’s idea and presenting it in your own words. Changing words from the original document is still considered plagiarism even if the author is cited. The paraphrased sentence, on how hard it is to know whether a conflict between researchers, doctors and the drug stakeholders has tainted results should have been in-text cited. He should have included an in-text citation after the sentence. Hence, there is plagiarism in the sentence (Lunsford & Rober, 1995). Materials or documents that use facts, statistics, figures, arguments, speculations or opinions without proper citing are plagiarized materials. This is because the writer is not the source of the work, and therefore could be cheating deliberately (Strout & Frame, 2004, p. 171-181). Paraphrases with no citation are also plagiarism. A paraphrased document or work should be properly cited to acknowledge the author. Changing words in the original word without citation is plagiarism (Lunsford & Rober, 1995). Misplaced citations give rise to plagiarism. If direct quotation or paraphrasing is used, the reference should come at the end of the document or material cited. Any summarized, quoted or paraphrased idea that comes after the citation is plagiarized (Grunabaum, 1944, p. 243-53). Every piece of information that does not come from someone’s research or common knowledge should be cited. This includes facts, statistics, figures, arguments, speculations and opinions.

Any from book Juvenile Delinquency 11th edition Term Paper

Any from book Juvenile Delinquency 11th edition - Term Paper Example This paper provides a comprehensive analysis of juvenile delinquency and crime theories that aim at predisposing the idea of juvenile crime and how it develops. This paper further addresses the problem of juvenile crime in detail. The history of juvenile dates back to the 19th century and it remains dynamic to have a clear understanding and the statistics associated with the vice. Adolescents go through various social problems as they grow. According to Zimmerman, Ramirez-Valles, & Maton (1999), 31% of adolescents are faced by drug abuse, 14% face other social problems, and 14% face crime related problems while 7% suffer the repercussions of sexual abuse. So intense are these problems that the survival and growth of affected adolescents depend on how efficiently they tackle the problems. Counseling is one of the practices that can help adolescents cope with whatever problems that they face from time to time. Adolescents between the age of 9 and 13 are the most vulnerable to these problems due to their high anxiety and excitement coupled with their newness to the adolescent stages (Siegel & Welsh, 2012). To this group, however, counseling is the most important thing in making them control themselves. This coun seling must be administered by the right person and at the right time if positive results need to be realized. It is noteworthy that the adolescent stage is one of the most challenging stages for individuals as it is full of difficulty in making decisions, thus indulgence in risky behavior. According to Miller (2010), youths have always failed to make safe and healthy choices that would effectively support them avoid risky behaviors such as drug abuse, poor school attendance record, criminal gangs, and sexual activity. This kind of trend is certainly observable in environments characterized by increased poverty level, high crime rate, as well as violence. It is no doubt that black urban males in single parenting setting living in subsidized

Plagiarism Coursework Example | Topics and Well Written Essays - 250 words

Plagiarism - Coursework Example When three or more words are used in a sentence from the original source and there is no clear citing, plagiarism occurs. The writer does not appropriately cite the sources used. He or she should have included in-text citation in the passage to avoid plagiarism (Strout & Frame, 2004, p. 171-181). The student should have used direct quotation in writing about doctors whose allegiance is always torn between the drug researchers and trustworthy consumers, leaving the important lot, the patients, unattended. Paraphrasing involves taking someone’s idea and presenting it in your own words. Changing words from the original document is still considered plagiarism even if the author is cited. The paraphrased sentence, on how hard it is to know whether a conflict between researchers, doctors and the drug stakeholders has tainted results should have been in-text cited. He should have included an in-text citation after the sentence. Hence, there is plagiarism in the sentence (Lunsford & Rober, 1995). Materials or documents that use facts, statistics, figures, arguments, speculations or opinions without proper citing are plagiarized materials. This is because the writer is not the source of the work, and therefore could be cheating deliberately (Strout & Frame, 2004, p. 171-181). Paraphrases with no citation are also plagiarism. A paraphrased document or work should be properly cited to acknowledge the author. Changing words in the original word without citation is plagiarism (Lunsford & Rober, 1995). Misplaced citations give rise to plagiarism. If direct quotation or paraphrasing is used, the reference should come at the end of the document or material cited. Any summarized, quoted or paraphrased idea that comes after the citation is plagiarized (Grunabaum, 1944, p. 243-53). Every piece of information that does not come from someone’s research or common knowledge should be cited. This includes facts, statistics, figures, arguments, speculations and opinions.

(Storey & Co) case study analysis Essay Example | Topics and Well Written Essays - 2000 words

(Storey & Co) case study analysis - Essay Example The top 4 factors identified are talent retention, effective communication, leadership retention and cultural integration (Stahl et al. 2004). Another important factor that has been seen to influence this acquisition negatively is the insecurity it induces in the acquired firm’s employees (Stahl and Bjorkman. 2006). This has direct implications on employee morale of the acquired firm. The uncertainty of the entire operation can lead to insecurities about their job in the minds of the acquired firm’s employees. We have seen that so far no communication has happened with regards to this acquisition. National cultures also play an important role in cross-border acquisitions. In our case also cultural integration holds the key to successful merger. Storey is used to a high handed culture where they impose their own practices over the acquired firm. For example, British people are more neutral in expressing their emotions at work place as compared to Americans (Hoecklin 1995 ). This means that American working style is more expressive and open than British. This can be seen in our case also as the owners of Gittins & Edwards propagated an informal culture while Storey had a very heavy handed acquisition experiences in the past. Hence, the heavy handed attitude of Storey can emanate negative responses from the more open and informal acquired company. (Bowen, Galang and Pillai 2002). The employees of Storey have been seen to exert their policies on to the new firm it acquires. This can lead to major attrition and loss of talent as there is a major cultural difference in the two firms’ operating styles. The environment within an organization is highly dependent on the attitudes and values of its present and past leaders (Bhattacharya 2010). This has implications for our case as well. The leaders at Gittins & Edwards show a very informal but commercial style, while the British communication style is very formal. Hence the employees of the acquired firm will not

Movie vs books Essay Example for Free

Movie vs books Essay From our mouths, to writing and finally to film, the way we tell stories has evolved over time and I must say thank God for its advancements. Reading a book can be nice but thanks to movies all the work of deciphering the message of the story is done through the director of the motion picture. He is responsible for researching the story to find the intent of the writers and will often consult with the writer to bring you the true meaning of the story. The director brings the story to life on screen with words, images, and sounds, leaving little to wonder, taking out the questions of what the story is about and leaving us with little or no debate. Examples of this can be seen in the Hollywood productions of the movies â€Å"Holes† and â€Å"The Great Gatsby†. The movie Holes (2003) was directed by Andrew Davis who used the writer of Holes, Louis Sacher as a consultant on the set during production (Movie Hole Interview October 6, 2003). The movie follows the life of a boy, Stanley, who due to a family curse, ends up in a juvenile detention center out in the middle of nowhere after being falsely accused of stealing shoes. A witch has placed a curse on Stanley’s family causing this turn of events; the curse can’t be removed until he completes certain tasks for his best friend. At the detention center he is brought together by fate with a boy named Zero who will become his best friend. Through trials and tribulations he and his friend are able to stay united, break the family curse, and get out of the juvenile detention center. Holes was one of my favorite movies growing up, and I have also read the book, I believe the movie follows the storyline of the book down to its minutest details. The movie provided all of the key factors that the book Holes was trying to convey, and in comparing the two I was almost stunned at the realization that the two were one in the same. The movie gives the reader and viewer the same theme time and time again throughout the story; friends will get you through the day, and stick to your goals. The Great Gatsby is another movie that I’m sure many people are familiar with and the story is one I myself have fallen in love with. Like holes I have also read the book that was based on the most recent Great Gatsby (2013) movie remake by director Baz Luhrmann. It is a marvelous movie that evokes a person’s passion, yet wills you to move on past lost love. In the movie we follow the narrator who takes us into the world of Gatsby, a Debonair Millionaire. From watching the movie we may conclude that everything Gatsby does throughout the story is for a woman name Daisy, whom is in love with and desires. To impress her he throws luxurious parties and to be closer to her he buys a mansion across the bay from her. Unfortunately due to his misplaced love, a love that should have been for God, he moves to corruption and swindling to attain his love, alas the only love he receives is the one who loves all, Death. Director, Baz Luhrmann tells the New York Times (May 9, 2013) â€Å"That he sticks close to the details of the story and lifts dialogue and description directly from the novels†. In doing so he is helping to provide us with a view of the story that the writer envisioned. Yet personal interpretation can be a problem within itself when comparing a movie to a book. While there is normally one message you can take away from a movie, with a book readers are able to decipher messages differently possibly coming to a conclusion the author never intended in the first place. Take the book 50 shades of Grey, which is rumored to be a movie soon, while discussing it with several women I have gotten several different interpretations of its meaning. Many saw the book as a romance novel with a main character that falls deeply in love. While some saw the main character as a scary control freak who liked to beat up his women. As for myself, I took it as a trashy love story reminding us of things we all secretly wish for, like the change to be a millionaire and to have incredible sex. So in conclusion, I can say with certainty that movies are the media in today’s society that can create a clear and concise message closely delivering what the writer had intended for its audience. While books can tell a story and allow the reader to use their imagination when determining the message of the writer we are often unsure about what message the writer was truly trying to convey when we finish the book. Movies provide us with words, sights and sounds that give us a clearer picture as to what the writer is trying to tell us. When we finish watching a movie we are left with little room for interpretation or argument and when we leave the theater we are satisfied that we have a good understanding of the writers true message was.

Risk management is of vital importance in islam and takaful

Risk management is of vital importance in islam and takaful ABSTRACT Risk management is of vital importance in Islam and Takaful provides a way to manage risks in business according to SharÄ «ah principles. This research paper attempts to identify various types of risks involved in Takaful business that affect operational and investment functions of Takaful operators across the globe and finds the ways to manage those risks effectively. However, takaful operators often face difficulty in managing market and credit risks as SharÄ «ah compliant nature of Takaful contract does not allow Takaful companies to deal with interest rate and financial derivatives that have been unanimously considered repugnant to SharÄ «ah by Islamic jurists. This research identifies Islamic financial instruments like cooperative hedging and bi-lateral mutual adjustment that aim at providing mutual gains to both parties by the way of risk sharing and can be used as an alternative to conventional derivatives. The research paper attempts to provide a framework to enhance risk management culture among Takaful operators. It also discusses the challenges that need to be encountered to enhance risk management practices among Takaful operators. INTRODUCTION â€Å"Many Muslims misunderstand the concept of fate. For some Muslims believe that the future is in the hand of Allah, where they are facing with fatalistic mentality by putting themselves in the doctrine, whether one is rich or poor, happy or sad, it is fated by Allah. It is a good dealing with luck. In fact, efforts and prayers should precede this kind of belief† (Iqtisad Al-islamy, 2003). For a long time, same misconceptions have been associated with insurance. Muslim scholars and Islamic jurists have treated insurance illegal, haram and repugnant to SharÄ «ahwithout providing an alternative solution to Muslim Ummah. As a result of these prevalent misconceptions, any effort or risk management strategy to insure the assets or life has been considered against the fate and will of Allah. In Islamic financial planning, Takaful is a way to reduce the financial risk of loss due to accident and misfortunes (Iqtisad Al-islamy, 2003). As a matter of fact, Takaful plan is an alternative to the insurance in the conventional financial planning. In Takaful plan, the participant would pay particular amount of money as contribution (known as the premium) partly to risk fund (the participants special account) using the concept of tabbaru (donation) and partly to another party (known as Takaful company) with a mutual agreement that, the kafiil (Takaful company) is under a legal responsibility to provide for the participant a financial protection against unexpected loss, should it happen within the agreed period. The focus of this research paper is to identify various types of risks associated with Takaful business and devise criteria for managing risks and enhancing risk management culture among Takaful companies. It also discusses challenges to risk management in Takaful. RISK MANAGEMENT â€Å"Risk is the chance of happening of something that will have an impact upon our objectives. It is measured in terms of likelihood and consequences† (GOWA, 2002). Traditionally, concept of risk has been associated with uncertainty of events in future. Higher the uncertainty of events, higher is the risk. In insurance, risk is the amount of loss associated with property or life. Risk to property can be a loss or damage to car, building, house, etc. Risk to life can be described as poor health, premature death, bodily injuries as a result of accident etc. (Rejda, 2006; p.23). Risk management is a process that identifies loss exposures faced by an organization and selects the most appropriate techniques for treating such exposures(Rejda, 2006; p. 63). According to New Zealand standard of Risk Management, â€Å"It is the culture, processes and structures that are directed towards the effective management of potential opportunities and adverse effects†. In fact, risk management is an ongoing process that encompasses all aspects of our life. RISK MANAGEMENT UNDER SHARIAH Risk traditionally means possibility of meeting danger or suffering, harm or loss (Iqtisad Al-islamy, 2003). Risk is an element of life in this world for being ignorant of the future. It is also factor of investing that one should take time to understand prior to selecting any specific investment instruments or any new adventures. Muslims are asked to work hard in order to be able to change their conditions as obvious in the verse of Holy Quran, †¦ Verily never will Allah change the condition of a people until they change it themselves (with their own souls)†¦ (Quran 3:11). However, it is true that only Allah knows ones future and fate, Muslims should strive to achieve the goodness in this world and the hereafter. Submission to Allah, of course, has a positive effect on human behavior. For it will lead to peace and contentment. Undoubtedly, one has to submit every single thing to Allah, but it supposes to be after his hands stretch out to do the best effort as he can, to ch ange himself, so that he would be able to manage and to cope with unforeseen calamities or misfortune. Prophet Muhammad peace be upon him once asked a Bedouin who had left his camel untied, Why do not tie your camel? the Bedouin answered, I put my trust in Allah the prophet then said, tie up your camel first then put your trust in Allah( Sunan al -Tirmizi, vol.4, No. 2517, p. 668). This conversation depicts not only how should Muslims accept their fate but it also indicates how do Muslims reduce the risk of loss and calamities. Quran has presented stories of the previous prophets so that Muslims can take the lessons from their experiences. The story of the prophet Joseph, for instance, tells us about financial planning. The story of Prophet Yaqub, Josephs father, tells us about the management of risks as Yaqub commanded his sons to enter Egypt from different gates. Quran states, Further he said: O my sons! Enter not all by one gate: enter ye by different gates. Not that I can profit you aught against Allah (with my advice): None can command except Allah: On Him do I put my trust: and let all that trust put their trust on Him (Quran 12:67). The history of the prophets migration to Madinah gives us other lessons on how the Prophet (SAW) managed the risk. The Prophet reduced the risk of getting killed by asking Hazrat Ali (R.A.) to sleep in his bed during the night of emigration. It was reported that as night advanced, the Quraish posted assassins around the Prophets house. Thus they kept vigil all night long, waiting to kill him the moment he left his house early in the morning, peeping now and then through a hole in the door to make sure that he was still lying in his bed. All these above examples depict that risk management is in the roots of Islam. We, as a Muslims, should put our trust onto Allah only after meticulous planning and best utilization of all the available resources. NORMS OF ETHICS Obaidullah (2002, pp.2-4) has identified norms of efficiency and ethics for SharÄ «ahbased risk management in a business contract. These norms are also applicable to Takaful contract and are briefly described as follow: Each party in Takaful contract should be free to accept the terms and conditions of the contract and no coercion is imposed on any party. Takaful contract should be free from element of ‘riba (interest) that is prohibited by Shariah. One of the major objections on the contract of conventional insurance by SharÄ «ahscholars is element of ‘riba in its investments for which it is considered illegal and unIslamic. There should be no uncertainty or ambiguity about the nature of contract. Excessive uncertainty is not permissible in Shariah. For example, SharÄ «ahscholars disallow conventional insurance contract where no party clearly knows how and from where the insured amount is to going to be paid in case a loss or catastrophe occurs to the insured. There should not be any element of gambling in Takaful contract. It means that Takaful contract should not be aimed at getting a huge advantage at the cost of others. Rather, participants should have sincere intention of helping each other in case of loss or catastrophe from a joint fund. Contribution amount for participants should be adequate and fair and should be determined by actuaries and approved by SharÄ «ahscholars. Takaful customers (participants) should have equal access to adequate, accurate and timely market information related to Takaful products and companys performance where they want to contribute their money. Rights of any third party should not be adversely affected by Takaful contract between two parties. It means Takafulcontract should not be detrimental to any third party. There should be unrestricted public interest in Takaful products and its business contract which should work for the benefit of people at large. TYPES OF RISKS IN TAKÄ€FUL BUSINESS Business industry is prone to a number of risks. Five types of risks in business (Basel, 2006; IAIS, 2004) have been identified that are relevant to Takaful business. First two types of risks (underwriting and operational risks) are directly related to operations of Takaful company while remaining three (credit, liquidity and market risks) are associated with the investment activities of the company. i. Underwriting Risk: Underwriting risk is pertinent to insurance and Takaful. It occurs due to adverse selection of applicants or due to re-Takaful risk as a result of inability of re-Takaful operator to meet the obligation towards ceded company under re-Takaful agreement (IAIS, 2003; pp.32-33). Adverse selection refers to the tendency of selecting applicants that result in higher than average chance of loss (Rejda, 2006; p. 45). The risk of adverse selection arises when applicants with higher than average chance of loss succeed in obtaining Takaful coverage at standard rates e.g. high risk drivers or persons with serious health problems. It results in higher claim ratio and put the firm on high liquidity constraints. Re-Takaful risk occurs as the ceded company remains liable for a portion of outstanding claim to the extent re-Takaful operator fails to provide financial protection to Takaful operator in accordance with agreed terms. Both adverse selection and re-Takaful risk hamper the firms underwriting capacity; disturb the cash flow pattern and hence affect the stability of the profits of the company. ii. Operational Risk: Operational risk is not a well defined concept , yet Basel Report (2006, p.144) defines it as a loss that occurs as a result of inadequate or failed internal processes, people, technology or from external events. Internal processes failure occurs (Ahmed Khan, 2001; pp.29-30) as a result of inaccurate processing of transactions, inefficient record keeping, violating operational control limits, non-compliance of regulations etc. people risk may occur due to incompetence of employees, fraud and failure to perform the duties. Technology risk may arise as a result of telecommunication system or computer network breakdown. Risks from external events include unenforceability of regulatory policies, legislation and regulations that affect the fulfillment of contracts and transactions in the organizations. These risks are also called legal risks and are considered a part of operational risks. iii. Credit Risk: Credit risk occurs a result of default of counterparty when it fails to meet its obligations in time and in accordance with agreed terms (IAIS, 2004; p.14). In case of insurance, credit risk may be treated as default risk, migration risk, spread risk or concentration risk. Default risk occurs when Takaful operator does not receive or partially receive cash flows or assets to which it is entitled because the other party fails to meet the obligations of the contract. Migration risk occurs when probability of a future default of an obligator adversely affect the contract today. Spread risk occurs due to market perception of increased risk on either macro or micro basis. Concentration risk is the result of increased exposure to losses due to concentration of investments in a particular geographical area or economic or industrial sector. Takaful industry is also exposed to these risks. iv. Liquidity Risk: Liquidity risk is the risk resulting from Takaful companys inability to meet its obligations (i.e. claims payments and maturity price of policy) when they fall due. This risk occurs because the company has insufficient liquid assets or high level of liabilities (IAIS, 2004; p.18). Liquidity risk includes liquidation risk, affiliation investment risk and capital funding risk. Liquidation value risk is the risk under circumstance when assets are liquidated below their real (market) value. Affiliated investment risk is the risk that investment in an affiliated or member company might result in drain of financial or operating resources. Capital fund risk is the risk that insurance company will not be able to outsource funds in case of large claims. Takaful industry, just like conventional insurance company, faces similar types of liquidity risks. v. Market Risk: Market risk is the volatility of prices in instruments and assets of Takaful company in the market. It can be classified as equity price risk, interest rate risk, currency risk and commodity price risk (IAIS, 2004, p.12). Equity price risk is the risk of loss resulting from changes in market price of equities or other assets. Interest rate risk is the risk of loss resulting from changes in interest rates that adversely affect the cash flows of the insurance company. Currency risk is the risk of loss resulting from volatility of exchange rates that adversely affect the operations of insurance company. For a Takaful company, it does not include interest rate risk, however Takaful operators are exposed to mark up price risk as avoidance of interest based transactions is distinctive feature of SharÄ «ahcompliance. MANAGING RISKS All types of risks in Takaful require specific risk management strategy and need to be managed on individual basis. i. Underwriting Risk Management: Underwriting risk can be managed by establishing standard selection procedure consistent with the companys objectives. Most of the Takaful operators require physical inspection or medical reports of the applicants that have serious health problems or prone to higher than average risk. Some have introduced computerized underwriting system to standardized underwriting procedure and minimizing the chance of adverse selection. For example, Takaful Ikhlas Sdn. Bhd. of Malaysia uses computerized underwriting procedure for motor Takaful where applicants who meet standard requirements are automatically selected for Takaful. Others are rejected or alternatively are offered higher contribution rates for the extra risk. To minimize re-Takaful risk, Takaful operator can evaluate the financial strength of re-Takaful operators in the region and diversify the risk geographically by making arrangements with more than one re-Takaful operator. ii. Operational Risk Management: Management of this risk is more complex as it arises from failure of internal processes, people, information system breakdown and non-compliance with regulatory standards (Ahmed Khan, 2001; pp. 38-39). Senior management and board of directors of Takaful company should devise policies and develop strategies to manage and reduce operational risks. Sources of operational risk (i.e. people, processes and technology) should be handled carefully. This raises the importance of corporate governance culture in the organization. Given the newness of Takaful industry, computer software available for conventional insurance might not be appropriate for Takaful industry. This calls for recruiting talented professionals in the field of informational technology so that they could develop software to meet peculiar needs of Takaful industry. Independent external auditors can also play an important role in mitigating operational risk as they point out flaws in internal processes of the organization. T his calls for proper disclosure of activities and independent and secure reporting system. iii. Credit Risk Management: Under conventional insurance system, credit exposure limits are established within companys investment policies to mitigate and manage default risk, migration risk, spread risk and concentration risk as discussed under credit risk. Usually, following credit exposure limits can be established for insurance company investment and credit activities (IAIS, 2004; pp.16-18). Internal and external rating of counterparties Limit on maturity of credit facility (prefer short term credit over long term credit) Limit on maximum investment amount or a certain percentage of investment exposure to a single issuer, industry, geographical region or some other risk classification. Prohibition of interest does not allow Takaful companies to investment in interest-based instruments (Chapra and Khan, 2000). Moreover, Takaful companies do not have access to credit derivatives that are considered effective instruments for credit risk mitigation. Yet Al-Suwailem (2006; pp.67-68) argues that futures and Option contracts result in losses for more than 70% of the time and hence such instruments are considered as factors of loss, not of gain. The non-availability of Islamic derivatives raises the importance of internal control mechanism for Takaful operators which ensures that credit risk exposures are maintained within limits of prudential standards defined by internal controls. iv. Liquidity Risk Management: IAIS Report (2004, p.20) identifies two approaches in order to hedge liquidity risk that are also applicable to Takaful industry. These are: Cash flow modeling Liquidity ratios Cash flow modeling is done in order to assess the amount of deficit, surpluses or liquidation value risk in order to meet the needs of Takaful industry. Takaful operator should make sure that it has sufficient liquid assets in order to meet liquidity risk and unexpected liquidity requirements. Use of liquidity ratios will help Takaful operator to set the amount of liquid assets required to meet demands of liability portfolio, desired level of liquidity ratio will also help in determining Takaful operators investment policies. Capital funding risk could be mitigated by setting contingency plans and drawing cash from re-Takaful policies. This form of liquidity hedging could be recognized by knowing current level of liquid assets in hand to meet Takaful operators investment policies. In order to identify and evaluate liquidity risks, Ahmed and Khan (2001, p.38) emphasize the need of adequate internal control and proper disclosure of information in the organization. Towards this end, it is essential to have regular independent reports and internal audit function should periodically review the liquidity risk management process. v. Market Risk Management: In conventional insurance, management of market risk includes devising strategies to manage interest rate risk, exchange rate, and commodity price risk as well as equity price fluctuations. Takaful operators are not involved in interest based transactions so they do not face this risk. However, KIBOR (Karachi Inter Bank Offered Rate) can be used as bench mark for markup in Islamic financial institutions in their financing activities. Conventional institutions manage the market risk using financial derivatives such as futures, forward, option or swap contracts (Chapra Khan, 2000; p.55). Takaful operators face difficulty in managing market risk as these financial derivatives are not compatible with SharÄ «ahin the eyes of Islamic scholars. However, according to Al-Suwailem (2006; pp.118-126), cooperative hedging and bi-lateral mutual adjustment are acceptable instruments under SharÄ «ahto mitigate currency risk and interest rate risk respectively. Additionally, Takaful operators could apply stress tests and Value at Risk (VaR) techniques to mitigate commodity price risk and equity risk. Stress testing is one of the risk management tools that can be employed to assess the vulnerability of portfolios to abnormal shocks and market conditions. Value at Risk is the probability of portfolio losses exceeding some specified proportion. ENHANCING RISK MANAGEMENT CULTURE Cultivation of risk management culture is extremely important to form a robust and resilient Takaful industry in Pakistan. This objective, however, could not be achieved without active participation and collaboration of regulatory authorities, senior management of Takaful companies and members of SharÄ «ahSupervisory Board (SSB). Towards this end, regularities authorities should make sure that stress testing and Value at Risk (VaR) reports as identified above are regularly produced and obtained from senior management of Takaful operators in addition to reports of Takaful risks. Regular review of these reports will greatly facilitate the regulatory authorities as well as Takaful operators to enhance risk management practices in Takaful industry. Moreover, effective implementation of internal control and corporate governance system could prove to be of vital importance to Takaful operator as well as to concerned regulatory authority. It will help the authorities in effective monitoring of Takaful activities and managing different types of risks hence enhancing the functioning of Takaful operators in the industry. Figure 1 shows the steps for effectively manage the risks in Takaful business. In the first step, possible risks in the way of Takaful business are identified. In the second step, strategies are developed to cope with and manage the risks effectively. In the third step, process of identification and strategy formulation and implementation related to each type of risk is examined through review reports and effective measures are taken to counter any flaw or discrepancy in the previous process. CHALLENGES TO RISK MANAGEMENT In spite of effective risk management techniques discussed above, there are certain challenges in the way of risk management for Takaful. i. Internal Controls: Internal controls are indispensable for recognizing and assessing risks faced by financial institutions including Takaful companies. Basel Committee (2005) and IAIS (2006a) reports have focused on the importance of internal controls for banking institutions as well as for conventional insurance companies respectively. Chapra and Ahmad (2002) found that existence of effective internal control have prevented the financial institutions from systemic crisis and enabled them to have early detection of problems and associated risks they might face in future. These experiences highlight the importance and need of internal controls for Takaful companies. Unique nature of these companies from conventional insurance demands the fulfillment of SharÄ «ahaspects. IFSB and IAIS joint working group (2006) maintains that to have effective internal control mechanism, Takaful companies must ensure SharÄ «ahcontrols in addition to all statutory regulations. It urges the need of a regularSharÄ «ahaud it as a part of an on-going internal control system. ii. Corporate Governance: The corporate governance structure specifies the distribution of rights and responsibilities of the Board, manager, shareholders and other stakeholders (OECD Report, 1999) yet effective corporate governance ensures the independence of board of directors (BOD) who in turn devise polices and implement strategies for risk management and hold the management accountable to shareholders (Psaros and Seamer, 2002; p.7). Lack of an effective corporate governance framework hampers the independence of board of directors (BOD) and hence poses a challenge to risk management. It in turn increases the operational risk which might result in failure of operations due to inability of BOD to implement unbiased and independent decisions for the best interest of all stakeholders. Takaful companies are confronted with an additional challenge related to corporate governance of SharÄ «ahSupervisory Board (SSB). Grais and Pellegrini (2006b) identify corporate governance issues that affect their role and fun ctioning in the organizations. It calls for a greater need to incorporate corporate governance culture to overcome related issues of Takaful industry. iii. SharÄ «ahBased Challenges: According to Ahmed Khan (2001), most of the risk management techniques are not applicable to Islamic financial institutions due to the requirements of SharÄ «ahcompliance. It creates SharÄ «ahbased challenges to risk management for Takafulcompanies as well. These challenges arise as SharÄ «ahrestricts the use certain instruments that are considered useful in conventional risk management e.g. derivatives (futures, options, swaps etc.) and sale of debts. Al-Suwailem (2006, pp.89-90) argues that SharÄ «ahconstraints to human behavior do not hinder creativity, rather these constraints are the major driving force behind the creation of innovative financial instruments. He suggests several Islamic financial instruments for risk management and concludes that SharÄ «ahis abundant with real solutions to the present problems of gambling and speculation. It provides directions to SharÄ «ahscholars and experts of Islamic finance to explore the dimensions of SharÄ «ahin order to integrate risk management practices with value creation. iv. Financial Engineering: Financial engineering aims at designing new and innovative SharÄ «ahcompliant Islamic financial instruments for IFIs including Takaful companies. Chapra and Ahmad (2002) maintain that financial engineering has emerged as the greatest challenge faced by SharÄ «ahscholars of present time as it poses major threat to IFIs to become competitive in the contemporary business environment. Process of giving fatwas by SharÄ «ahscholars regarding the permissibility of a financial instrument is quite slow and over-conservative (Iqbal et al, 1998; pp.47-48) as SharÄ «ahscholars and experts of modern finance have different academic backgrounds. They use technical terms related to their own field that are most of the time not easily understandable to other party. The need is to produce scholars with SharÄ «ahbackground that also have working knowledge of modern finance to meet the acute challenge of financial engineering. v. Islamic Financial Market: Islamic financial market provides a secondary market for trading of Islamic financial instruments. In the absence of this market, it will be extremely difficult for Takafulcompanies to maintain its liquidity position to make prompt claim payments when they become due. Retaining a large portion of Takaful fund to maintain high liquidity ratio will affect the efficiency of the firm and its competitiveness as compared to conventional insurance companies that have ready access to liquid bonds and t-bills. Islamic Financial Market will greatly facilitate the Takafulcompanies to invest large portion of their fund in Islamic financial instruments and increasing their efficiency and competitiveness while maintaining low liquidity ratio. It will also help Takaful companies in hedging market risk by providing alternative instruments to financial derivatives that are not acceptable under Shariah. vi. Need of Private Credit Rating Agencies: Although International Islamic Rating Agency (IIRA) has been set up in Bahrain to judge the SharÄ «ahcompliance and financial strength of Islamic financial institutions (IFIs) including Takaful companies, it is not be possible for IIRA to rate thousands of counterparties with whomTakaful companies deal. Consequently, it calls for the need of private credit rating agencies in each Muslim country that could provide information related to financial strengthen, fiduciary risk and credit worthiness of thousands of counterparties that privately issue financial instruments (Chapra Ahmed, 2002; pp.80-81). This information could provide great help to IIRA in rating these companies and make it readily available to Takaful companies and other interested parties. CONCLUSION AND RECOMMENDATIONS Risk management is of vital importance in Islam and Takaful provides a way to manage risks in business according to SharÄ «ahprinciples. Five types of risks have been identified in Takaful business that affect operational and investment functions of Takaful operator. Operational risk can be managed by enhancing corporate governance culture in the organizations. Cash flow modeling and use of liquidity ratios is quite helpful to identify liquidity constraints. Takaful operators might face difficulty in managing market and credit risks asSharÄ «ahcompliant nature of Takaful contract does not allow Takaful companies to deal with interest rate and financial derivatives due to their speculative nature by which they tend to benefit one party at the loss of other. On the other hand, Islamic financial instruments like cooperative hedging and bi-lateral mutual adjustment aim at providing mutual gains to both parties by the way of risk sharing. Risks associated to Takaful have raised several challenges that need to be encountered to enhance risk management practices. Regular SharÄ «ahaudit is found to be an integral part of effective internal controls that prevent the companies from systemic crisis. Corporate governance calls for independence of BOD to devise policies for effective risk management, make unbiased decisions and resolve issues related to functioning of SSB. SharÄ «ahbased challenges call for devising innovative Islamic financial instruments as SharÄ «ahis abundant with real solutions to present business dilemma and does not hinder creativity. Exploring those solutions will help to meet the challenge of financial engineering. Islamic financial market will greatly facilitate the task of Takaful companies to invest large portion of their fund in Islamic financial instruments and increase their efficiency and competitiveness. There is need to establish private credit rating agencies that could assist IIRA to ra te thousands of counterparties for the benefit of Takaful operators.