Thursday, May 21, 2020
Thomas MoreÃ¢â¬â¢s book, Utopia, was constructed to criticize aspects of European life during the 1500s. One issue that More evaluates is the subject of politics and war. War during this time was used to gain territory or increase the rulerÃ¢â¬â¢s power. The Utopians are a peaceful group of citizens that rarely have any altercations occurring upon their island. They have a strict daily schedule that provides a minute amount of time for leisure, resulting in a low rate of problems. So why does More bring up the issue of war, if the people of Utopia infrequently misbehave? More analyzes this issue to exemplify how war was implemented in Europe under the reign of King Henry VIII. In addition, more describes the UtopiansÃ¢â¬â¢ preparations when they engage in war. More wrote Utopia to provide the citizens of Europe with a source of hope for a new outlook on life. The citizens of Utopia are easygoing people who do not take interest in territorial development and do not make alliance s with other nations because they believe that those actions are not the way to settle disputes. Ã¢â¬Å"They despise war as an activity fit only for beastÃ¢â¬ , because they solely use war for the protection of the island and its inhabitants (More 77). Thomas More constructed the values and citizens of Utopia to be set apart from that of European values in the 1500s. In Europe, single-minded King Henry VIII did not shy away from any form of conflict. He wanted to increase his territory to gain prominence, and by engaging inShow MoreRelated`` Utopia `` By Thomas More1493 Words Ã |Ã 6 PagesThroughout human history, Utopia is a word that have been eulogized as a community or society possessing highly desirable or perfect qualities. This idea has been promoted by Thomas More via his fiction work and political philosophy in 1516. Utopia, then, becomes a final goal of many wealthy people around the world, who are seeking for the happiest and the most secure place to maintain their p roperty. However, most of individual prefer to keep benefits for themselves rather than sharing with othersRead MoreUtopia By Thomas More s Utopia1350 Words Ã |Ã 6 PagesMoreÃ¢â¬â¢s Utopia Thomas MoreÃ¢â¬â¢s book, Utopia, was constructed to criticize aspects of European life during the 1500s. One issue that More evaluates is the subject of politics and war. War during this time was used to gain territory or increase the rulerÃ¢â¬â¢s power. The Utopians are a peaceful group of citizens that rarely have any altercations occurring upon their island. They have a strict daily schedule that provides a minute amount of time for leisure, resulting in a low rate of problems. So why doesRead MoreUtopia By Thomas More s Utopia1927 Words Ã |Ã 8 PagesIn Thomas MoreÃ¢â¬â¢s Utopia, the character Thomas More writes a letter to Peter Giles of this island nation Raphael told him about called Utopia. At this point Thomas more is in Denmark (?) making negotiations when he meets Raphael who introduces him to the thought and place of Utopia. More heard that it is a wonderful place ruled entirely by logic, but in the end he tells Peter Giles that he does not know how well that wou ld actually work. In Utopia, everything is perfect because the Utopians use logicRead MoreThomas More s Utopia?1464 Words Ã |Ã 6 Pages Thomas MoreÃ¢â¬â¢s Utopia By: Jocelyn Torres English 2322 12 October 2017 Jocelyn Torres English 2322 Read MoreAnalysis Of Utopia By Thomas More1710 Words Ã |Ã 7 Pages Utopia- good place, or in other words, no place. Thomas More, in his work Utopia, describes a nation in a parallel universe free from greed, pride, immorality, poverty, and crime; told as a narrative of a well-traveled explorer Hythloday to Moore himself, Hythloday speaks of a nation founded purely upon rationality, efficiency, and perfect morality. Thomas MoreÃ¢â¬â¢s work is no political or social theory, but rather a social critique and a commentary. In an age experiencing political and social struggleRead MoreUtopia And Dystopia By Thomas More1472 Words Ã |Ã 6 Pages Utopia and dystopia are two main narrative platforms that have been employed as vehicles for demonstrating social fabric of the society. They are constituents of speculative fiction which allows historians to evade some contentious facts of the past in order to create a new world. Notably, these terminologies have stood the test of time and they have proved to be paramount tools for affecting change in the soci ety. Utopia is a Greek word which refers to no place. Since inception by Thomas MoreRead MoreIs Thomas More s Utopia?1374 Words Ã |Ã 6 PagesThomas MoreÃ¢â¬â¢s Utopia is a work of fiction that explores the idea of the commonwealth of Utopia as an ideal society both governmentally and productively. Later thinkers delved deeper into the questions of society, looking at why people enter societies, what type of governments are most successful, and distribution of wealth among the population. Thomas Hobbes, John Locke, Adam Smith, and Karl Marx all had varying thoughts on how to achieve social order in the societies in which they lived. Their differingRead MoreThomas More s Utopia?2123 Words Ã |Ã 9 PagesThomas MoreÃ¢â¬â¢s Utopia Thomas More wrote this book in 1516. He was latin and published this book in Louvain which is basically belgium. This book was written as a conversation between these three people, Thomas More, Peter Giles and Raphael Hythloday. More and Giles are real people who lived and breathed on this earth but Raphael is completely fictional he did not exist at all. They meet and their meeting turns into the book we now know as Utopia. I believe that a lot of the ideas presented inRead MoreRhetorical Analysis Of Utopia By Thomas More1195 Words Ã |Ã 5 PagesIn his book Utopia, Thomas More utilizes several different rhetorical devices to not only describe Utopia as a place, but also to compare the commonwealth of Utopia to the current state of Europe at the time. One literary device used throughout the novel is tone. While there are several other literary devices that contribute to the reading of Utopia, tone is one of the most useful in determining the views of More as an author. In Uto pia, more usually sustains a satirical tone, sometimes accompaniedRead MoreUtopia by Thomas More Essay1077 Words Ã |Ã 5 PagesUtopia as a text is a clear reflection and representation of MoreÃ¢â¬â¢s passion for ideas and art. Through the character of Raphael, More projects and presents his ideas, concepts and beliefs of politics and society. MoreÃ¢â¬â¢s Utopia aims to create a statement on the operations and effectiveness of the society of England. This text is a general reflection of MoreÃ¢â¬â¢s idea of a perfectly balanced and harmonious society. His ideas and concepts of society somewhat contrast to the rest of 16th century England
Wednesday, May 6, 2020
Originally known as Elementary and Secondary Education Act, the No Child Left Behind Act is a policy believed to improve achievement from K-12 students with aid from government funding within high poverty schools. The NCLB has been a great initiative to promote performance for all students, especially those from minorities, special education and English Language Learners (Chen, G.) As stated in Ã¢â¬ËExamining the Assumptions of Underlying the NCLB Federal Accountability Policy on School Improvement,Ã¢â¬â¢ this policy has received a great amount of recognition as well as many flawed assumptions that make us question if the good really out-ways the bad. The NCLB Act has created a multitude of presuppositions and this article is a start to explainÃ¢â¬ ¦show more contentÃ¢â¬ ¦There are a couple problems with this algorithm, one being that it only takes into account the school improvement based on the tests and not necessarily how effective the school is throughout the rest of the year. Another problem is that a school can put on AYP if they miss one or two targets in each of the consecutive years (Forte, E. pg. 78). This may not be the best indicator for seeking out schools who need improvement because missing one area in testing shouldnÃ¢â¬â¢t mean that a school isnÃ¢â¬â¢t effective and needs to automatically be placed on the list for improvement. With this being the case, many schools who actually need the help are either being over-looked or now have to share these resources with a school who may not necessarily need as much support. Once a school is placed on improvement, the school must come up with an improvement plan explaining the strategies and resources they will use to better the success of students. As indicated by the NCLB, the plan must also identify additional indicators the school will use to monitor progress, how the school will improve parental involvement and professional development quality, and its program for teacher mentoring as w ell as offering parents the option to move their child to a different school in the first year as well as grant them Title I dollars to supportShow MoreRelatedThe Importance Of The No Child Left Behind Act1062 Words Ã |Ã 5 Pagespercent, which is above national average. According to the No Child Left Behind Act, issued by President George W. Bush and signed into law in 2002, by the year 2014 all students who had completed their eighth grade year should have been proficient in academic skills. For many years, schools were just shuffling kids through the system without giving them the proper education they need to succeed later in life. Unfortunately, this act has not been effective and did not give children the actual educationRead MoreThe Importance Of No Child Left Behind Act1769 Words Ã |Ã 8 Pagesrequired. ThatÃ¢â¬â¢s when the No Child Left Behind Act of 2001 was placed to ensure schools were being required to assess the students, and put forth standards and regulations f or students to pass. Primarily this act was in accordance to those within the lower income neighborhoods, because the main purpose of enacting the NCLB was to correlate with Title I Funding, which gave funding to those schools with a higher percentage of lower income students. The main target that this act was destined for was childrenRead MoreThe Importance of Improving Public Education Essay examples1453 Words Ã |Ã 6 Pagesspecifically the Ã¢â¬Å"No Child Left Behind Act.Ã¢â¬ The No Child Left Behind Act was not the first law passed to affect the nationÃ¢â¬â¢s educational systems, nor will it be the last. There have been several problems laid out with the various educational systems put into place, and there are many things we could do today to better our educational systems in the future. Before President BushÃ¢â¬â¢s No Child Left Behind Act went into place there was the Ã¢â¬Å"Elementary and Secondary Education Act of 1965.Ã¢â¬ However,Read MoreNo Child Left Behind Act1621 Words Ã |Ã 7 Pages The support for the No Child Left Behind Act plummeted down shortly after the act passed. Many people supported the act at first simply because they supported the goals of the act, once they saw the results, their opinions changed. One of the biggest arguments towards No Child Left Behind is that it is unfair. People believed the resources of difference schools were unequal, and thought the Title 1 funding that the schools received should go to ensuring all schools had equal resources. Many peopleRead MoreEssay on No Child Left Behind Program1154 Words Ã |Ã 5 Pagesto improved curriculums and extraordinary dropout rates. In an effort to combat these issues, the Bush administration implemented an act that purported to help schools to receive necessary funding for qua lified teachers and to close the racial and ethnic gaps, known as the No Child Left Behind Act (NCLBA). However, the NCLBA failed to deliver on its promises and left already struggling schools and children in disarray attempting to reach government mandates rather than ensuring a balanced educationRead MoreQuality Of Education : State And Federal Involvement1642 Words Ã |Ã 7 PagesPresident, once stated, Ã¢â¬Å"A child miseducated is a child lost.Ã¢â¬ The importance of education has been hammered and embedded into our minds from the first day of school. We are constantly told education is the key to life. This is because education is Ã¢â¬Å"the act or process of imparting or acquiring general knowledge, developing the powers of reasoning and judgment, and generally of preparing oneself or others intellectually for mature life (Dictionary.com).Ã¢â¬ Therefore, if a child is not educated at all orRead MoreThe No Child Left Behind Act1670 Words Ã |Ã 7 Pages Literature Review: Every Student Succeeds Act Suzanne Hatton, BSW, LSW University of Kentucky-SW 630 Abstract This literature review seeks to explore the Every Student Succeeds Act (2015), a bipartisan reauthorization and revision to the No Child Left Behind Act (2002). The Every Student Succeeds Act (ESSA) is the first law passed in fourteen years to address Reneeded changes to the No Child Left Behind Act (NCLB). Considered progressive and innovative at the time of itsRead MoreIn The Year 2000, Only 32 Percent Of Fourth-Graders Could1377 Words Ã |Ã 6 Pageslevel (Ã¢â¬Å"ed.gov/importanceÃ¢â¬ , 2002). This is a staggering number, but all we see is that 62 percent have are able to read at grade level and thatÃ¢â¬â¢s still a decent percentage considering itÃ¢â¬â¢s the entire US population. These statistics are all taken using adults ages 25 and up. To reach over the age of 25 without having attained at least your HS degree in todayÃ¢â¬â¢s society is astounding. In 2008, when Barack Obama was still a US Senator, he campaigned to get the No Child Left Behind act fixed. During this Read MoreThe Role Of State And Local Control Of Education850 Words Ã |Ã 4 Pagesqualified individuals have mastered the skills that they need to be a certification teacher. The law, however, must maintain and establish the governing body that establishes and makes sure that school districts employ only qualified individuals. The importance of state and local control of education is crucial and provides the opportunity for each state to develop their own definition of what qualifications are needed by individuals in order to be considered Ã¢â¬Å"highly qualifiedÃ¢â¬ . This definition must beRead MoreThe Concept of Federalism in the US1083 Words Ã |Ã 4 Pagesthe way that states govern themselves. Even with this, education has always been a field that Federalism focused on, considering that it emphasized the importance of government involvement in the way that education is provided. There is actually much controversy regarding this topic, as even though contemporary federalism promotes the importance related to states governing themselves, it is also dedicated to having all individuals in the U.S. experience little to no problems in their attempts to
Poet and Environmentalist, Mark OÃ¢â¬â¢Connor, expresses his admiration for the cyclical and resilient aspects of which nature is comprised. The persistence of nature depicts the ideas that nature is just as, if not more, dominant as man. His poems Turtles Hatching and To Kill An Olive explore these themes and elucidate OÃ¢â¬â¢ConnorÃ¢â¬â¢s compelling perspective of nature. We will write a custom essay sample on Mark OÃ¢â¬â¢Connor Imagery or any similar topic only for you Order Now These two poems hold distinctively visual images that enable the reader to envisage the scene presented. Turtles HatchingÃ¢â¬â¢s poetic recount encapsulates the trials and tribulations of the turtles. OÃ¢â¬â¢Connor describes the turtles as Ã¢â¬Å"high revving toysÃ¢â¬ , ready for their chance at life. He elucidates the persistence of the turtles by using distinctively visual images describing how determined these turtles were at reaching their safe haven: Ã¢â¬Å"Scrambling in sand, scrabbling in slime, or sculling deluded through sand-pools to beaches of deathÃ¢â¬ . This alliteration of the visual images highlights the desperation of the turtles on their fight for survival. OÃ¢â¬â¢Connor has created a distinctive image to aid readers in creating an idea of just how determined and persistent, not only the turtles were, but also just how determined the crabs were at preventing the turtles from reaching their goal. Ã¢â¬Å"Queued up crabsÃ¢â¬ gives readers an image of an army of crabs; so many as they wait for the turtles to come. Not only was natures tenacity evident in Turtles Hatching, OÃ¢â¬â¢Connor has also brought this theme to the readers attention in To Kill An Olive. OÃ¢â¬â¢Connor has started out To Kill An Olive, diving straight into the resilience and persistence of olives trees. He has accumulated the many things that are incompetent of killing an olive tree elucidating just how determined they are at overpowering man. Ã¢â¬Å"Hack one down, grub out a ton of main root for furl, and next spring every side-root sends up shootsÃ¢â¬ . OÃ¢â¬â¢Connor has described visually these connotations of just how in destructive these trees are, despite are the treatment it is being subject to. OÃ¢â¬â¢Connor has made reference to the prolonged period of time these olive trees has been persistent in overcoming mans many obstacles. Ã¢â¬Å" Burnt-out ribsÃ of siege machinesÃ¢â¬ not only highlights how long these olive trees have been standing for, but also how the tree has overcome the old-timed machines and gone and lived another age. The distinctively visual images used here can encapsulate this theme and gives readers a deeper understanding of the tenacity these olive trees are willing to relinquish. OÃ¢â¬â¢Connor is fascinated by just how much humans underestimate nature. The smallest creatures can overcome any adversity and the dullest of trees can overpower any man. Nature, if it wants to, can be just as powerful as man. In Turtles Hatching, Mark OÃ¢â¬â¢Connor has done just this. How to cite Mark OÃ¢â¬â¢Connor Imagery, Papers
Saturday, April 25, 2020
The Roaring twenties had a lot happening for the people of America. This is the time when the stock market crashed, prohibition was in full swing, and racism was strongly agreed upon. This is the decade of prosperity and dissipation. This era was filled with jazz music, bootleggers, flappers and speakeasies. On August, 18, 1920, The Womans Suffrage Amendment to the U. S Constitution was ratified. This was huge that women could now vote. A lot was happening already in the 1 asss and something even bigger was about to occur. Jack Roosevelt Robinson was born in Cairo, Georgia in 1919. His four siblings ND his mother was all he had known in the prejudice world that they lived in. Growing up in a single parent family, Jackie loved to play sports and was excellent at all he played. Jackie went on to UCLA and became the first athlete to win varsity letters in four sports. We will write a custom essay sample on Jackie Robinson: A legacy or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page He won in baseball, football, basketball and track. In 1 941 Jackie was put on to the All American football team the Honolulu Bears. Jackie had to leave college because of financial problems. Jackie decided to join the army and after two years he was honorably charged because of racial issues that he had. In spring of 1945 Jackie joins the Negro Baseball League and plays for the Kansas City Monarchs. He goes on to play on the American All Stars team. On April 16 of the same year he had tryout for the Boston Red Sox. Neither the players nor the coach showed up for his tryout. He joined the Dodger Organization and signed a contract to play with the Montreal Royal of the International League. He received a six hundred per month salary, and a three thousand five hundred bonus. Jackie test married to Rachel sum and leaves soon for spring training. This is where he meets another African American player. The Montreal Royals are locked out of the stadium because there are African American players on the team. Jackie was the first Negro player to ever play in organized baseball. His first game he hit four times, got three singles, a home run, scored three times and drove in four runs. Montreal one 14-1 . His team won the Little World Series. Jackie finished the season as the International League batting champion. InFebruary of 1 947 the Brooklyn Dodgers sign Jackie. In October of the same year he is voted the first ever major league Rookie of the Year. He also finished fifth in the National Leagues Most Valuable Player. In July of 1 949 Jackie joins Roy Campanile, Don Newcomer and Larry Dobby as the first African Americans to play in an All Star Game On July 18 Jackie testifies before the House Un-American Activities Committee about the role of blacks in the military an dhow this is unfair. In October Jackie is named the National ague Most Valuable Player.He wins the batting title by batting . 342, with 203 hits, 124 Ribs and 37 stolen bases. In 1962 Jackie was inducted to the Baseball Hall of Fame. As an African American player Jackie Robinson was judged by the whole country. His life and legacy will be remembered for ongoing time. He broke the color barrier of Major League Baseball. He stood up against people for racial equality to be able to do the things he loved and that was playing sports. Jackie never gave up. He showed persistence and he changed the way baseball is played today.
Wednesday, March 18, 2020
Bonus Banking Case of UBS Introduction Background Employees of financial institutions have been considered for quite some times as being among the top earners in the country. Indeed, financial service organizations have defended their compensation and bonus structure, claiming that it helps them attract, recruit and retain the best talent. In addition, these organizations have previously claimed that their employee are remunerated based on their performance.Advertising We will write a custom report sample on Bonus Banking: Case of UBS specifically for you for only $16.05 $11/page Learn More Therefore, employees will be motivated to work hard and in return create long-term value to all the organizationsÃ¢â¬â¢ stakeholders. On the other hand, it would be expected that when an organization underperforms, the employee will similarly be affected and hence their bonus reduced (Pert Clark 2010) However the recent events, prior and during the global financial crisis, have clearly proved t hat this has not been the case. Most financial institutions were heavily criticized for their continuous persistence of highly rewarding their employees, especially top executives, despite their poor financial performance. In deed, there is clear evidence to support this augment. For instance, despite Citigroup and Merrill lynch, suffering losses of not less $ 27 billion dollar, they still paid bonuses; the first one paying $ 3.6 billion and the latter $ 5.3 billion. Likewise, Morgan Stanley, Goldman Sachs and JP Morgan Chase, in the year ending 2008, paid out bonuses that were higher than their annual earnings. To be specific, Morgan Stanley paid $ 4.5 billion dollar despite making $ 1.7 billion. Similarly, JP Morgan chase paid 8.7 billion dollar after making $5.6 billion and, last but not, least, Goldman Sachs paid $ 4.8 billion while the earning was $ 2.3 billion (Pert Clark 2010). Such actions lead to a public outcry by various stakeholders; including shareholders, the media, r egulators and even some of the staff. In addition, it strained the relationship existing between these institutions and their customers, with most of them perceiving the organization as to lack accountability and integrity. Certainly, the institutions have come to the realization that the previous systems of incentive do not serve their intended duty of creating the long-term value. It is for this reason; they have opted for other alternatives, such as Bonus banking, which they believe will create both short-term and long-term value by building greater relationships with stake holders such as customers and employees (Pert Clark 2010; Watkins Warren 2010).Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Aim This report will therefore aim to investigate the potential of bonus banking. It will study the benefits of this compensation by comparing it to the previous system. Studying UBS, a financial institution which has opted for this approach, will give a clearer picture. Case Study: UBS UBS is among the largest financial services organizations in the world. Priding itself with more 150 years of experience, this organization offer wealth management, investment banking and asset management services for corporate, institutions and high net worth individuals around the world. In fact, it is considered as the second world largest private wealth manager. The organization, whose headquarters are in Zurich and Basel, Switzerland, is cited as the biggest in that country. In addition it has over 50 offices around the world, most of them in major financial cities. The bank is also a major employer with about 65,000 employees directly under it (UBS 2010). Just like any other major financial service organization, this institution was had hit by the global financial crisis. By august 2008, it was established that it incurred the biggest lost among its peers in Europe. Ac tually, it was faced by double tragedy. Apart from the effects of the crisis, the organization was charged with allegation of helping its US client evade taxes. These allegations had profound effects on it. They threatened its continuity and hence the government opted to unveil a substantial bail out plan to help it stay afloat. This did not escape the eye of the general public. In view of the possibility of its action affecting its relation with existing and potential new clients, the institution opted to adopt some reforms. Accordingly, a bonus banking system was adopted since it appeared as the best option to counter the perception of greed associated with the institution (UBS 2010; Irv 2009; Kamil Rai 2009). UBS Bonus Banking System According to Christie (2009), bonus banking is an incentive practice whereby a certain amount of annual earned bonus is banked in a special account referred to as a bonus account. The banked bonus is paid in specified proportion in the years followi ng.Advertising We will write a custom report sample on Bonus Banking: Case of UBS specifically for you for only $16.05 $11/page Learn More Its major difference with the heavily criticised bonus plan is the fact that negative bonus also known as mulus can be declared and subtracted from the accumulated bonus. This usually happen, if the employees underperforms and is generally reflected in the organization, especially financially (Pert Clark 2010; Christie 2009). UBS bonus banking system was motivated by the belief, that if properly executed, executives will no longer work for the short-term interest motivated by the annual bonus. This system will target senior executives, division leaders and high risk traders, who are in charge of trading a substantial amount of the institutional capital. The annual bonuses, both in terms of shares and money, earned will be held in special accounts for five years. This stipulation is believed, by its designers, that it wi ll ensure the categorized employees to act in line with corporate strategy, and hence enable the organization achieve both its short and long-term. It diminishes the possibilities of the executive operating with an intention of quickly making short-term gains which will see their annual bonus increase (UBS 2010; Irv 2009; Heineman, Goodman Downes 2009). The employees will be expected to act within the set policies. Performance will be measured and negative bonus applied; if the performance target is missed, are breach of trading rules is experienced, or whereby personal misconduct affects the organization. On the same font, if a financial loss is experienced by the company or any of its division, or any cases whereby asset write-down occurs, the employee in charge will incur a negative bonus. Persistence negative performance can result in completely wiping out bonuses previously earned in terms of shares or a two-third reduction in the amount earned in cash (Irv 2009). Incentive Pl ans and Customer relationship There is, if any, a very thin line between the customers and investors in financial service organizations, such as UBS. For example, all its clients in its investment bank arm double up as investors. Perhaps only in its Swiss Bank UBS, which offer retail services, one can at very minimum observe the difference.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Nevertheless, due to the sensitivity involved in offering the financial service, building a relationship between the institution and the customers can be an uphill task. The connection between executive compensation plans, and global financial crisis affected the relationship negatively. Customer, especially at the UBS, need to feel that their interest is protected and the risk is minimized (Irv 2009; Watkins Warren 2010). UBS and other banks targeting corporate and high net worth individuals have mastered the art of managing customer relationship. Having this group, as a niche market, call for perfectionism. This is because they are usually well aware of their rights as customer and have the capability of easily moving to another FSO that they feel will suit them adequately. Nonetheless, the previous bonus incentive plan has had some benefits. To begin with, if properly linked with the organizationÃ¢â¬â¢s mission and vision, the incentive would have served as platform of attract ing, recruiting and retaining the best talent. This group of employee would therefore be motivated, posses customer relationship skills and hence ensure the institution enjoys a high revenue and rate of return. Despite attracting great talent at UBS, and various strategic manager outlining the employee incentive plan will help achieve both the short-term and long-term, the approach fell short of expectation. Indeed, this compensation plan was not focused on longer-term objectives. It failed to link the risk and reward and therefore allowed employee to take short term approach that ensured performance in the period appeared favourable. Eventually this affected negatively the organizations by putting the clientsÃ¢â¬â¢ investments and deposit was at risk. At one point, the risk was too much to bear and the clients opted to end their business. It took the intervention of a former and retired Chief Executive to convince them otherwise (Pert Clark 2010). With the new bonus banking syst em, the relationship between the institution and its clients is expected to improve in the long-term. Employees, especially executive, who a responsible for decisions and actions that can significantly affect the organizations, will automatically be directly affected by both the short and long-term performance of the organization. The potential to either gain or lose bonuses depending on their performance is viewed by many clients as form of increasing both institution and employeesÃ¢â¬â¢ accountability. Employees just like clients and investor can directly lose both money and shareholdings (Pert Clark 2010). Nerveless, as cited by Christie (2009), Bonus banking can at times fail to motivate employees. One reason for this is because the system does not allow for employees to enjoy the immediate reward of their effort. In addition, are form of insecurity develops considering the bonus earned previously can be significantly reduced and sometimes claw back applied. For that reason, employees might be reluctant to put extra-effort and hence result in either average or just above average result. This performance will be observed by the clients and potential harm any profitable relationship. Incentive Programs and Sales People Without a doubt, sales people play an integral role in any organization. The importance of their duties is further propelled when the institution in question offer financial and investment services. When the organization deals with ultra high net-worth and/or just high net-worth individuals, the saleÃ¢â¬â¢s people need to be equipped with the resources, knowledge and motivation needed to handle this unique group of client. Such is the case at UBS. This institution implicitly states that its sales force support its business in a very significant way. It is the sales people who regularly come in contact with clients and potential clients and in the process offer financial and investment advice. Similarly, they are responsible of ensuring th e existing clients are retained and potential new customers procured (Levil and Curtis 2010; UBS 2010). However, to ensure that this group of employees maintain a consistent high performance, saleÃ¢â¬â¢s managers have opted to adopt various recognition and sales incentive programs. Sale incentive program usually target to reinforce a certain behaviour that an organization perceive to be contributing towards its objectives (Levil Curtis 2010). Levil Curtis (2010) claims, there is enough evidence to support the premise that an effective incentive programs can increase sales team performance by approximately 30 percent. The program adopted at UBS aim to retain the best talented sales people while at the same time encourage them to engage in practices that maintain and increases their business. Judging by the number of awards this organization has received through out the countries it operates; it was considered to be on the right track (UBS 2010). A saleÃ¢â¬â¢s manager, neverthel ess, faces quite some challenges while designing an incentive program. They can range from the internal impact they have on the institution, to external influence. For starters, it is an expensive endeavour. Official figures estimate that businesses in the US spend about $ 9.5 billion and $101 billion on non-cash and cash incentives respectively. Therefore managers have to ensure the program adopted serve the organizationÃ¢â¬â¢s both short-term and long-term goals. Both the institution and the saleÃ¢â¬â¢s people want to recoup their investment, and earn their returns at the shortest time possible. This therefore increases the chance of entering in practices that might affect the organization and stakeholder negatively; especially customers. To be eligible for the incentive reward, sales people have to hit a certain sales target. They can at times be tempted to apply even unscrupulous practice to close a sale deal. Sales manager therefore need to be well aware of this issues sinc e they can have negative legal implication on the institution. For example, customers have various rights, such as right to information. This is particular important to financial service organization such as UBS. Legislation across Europe and other countries entitled the person issuing investment opportunity to provide the client with prospectus and/or statement of investment. These documents are meant to clearly elaborate the nature of the investment; such as the background, potential return and risk involved. SaleÃ¢â¬â¢s people, to increase their chance of reaching the target, can decide to withhold any information that might make their client reconsider the offer. A good example is belittling the risks involved and exaggerating the potential return (UBS 2010; Glick 2009; Levil and Curtis 2010). Sales managers also need to consider the tax implication of any incentive program adopted. Employers therefore should be ready to declare the value of any benefits and incentive enjoyed by this group both in terms of cash and non-cash. In the US, the legislation set and govern by the IRS specify this benefits to be taxed as ordinary income. Effectively taxing the incentives and high bonuses especially those rewarded to senior sale executives can potentially reduced the negative public perception. Although this cannot be a solution by itself, the financial institutions need to contribute a larger percentage of the money which is used to bail them out in moments of crisis (Cleverley Rai 2010). Conclusion Financial services organisations have been forced to change their incentive compensation plan in order to balance between short and long-term. This was necessitated by the fact that, the recent financial system was closely associated to the bonus systems that previously existed. As a result, the relationship existing between these organizations and other stake holders such as customer and even some employees was negatively affected. Accordingly, companies such as UB S have opted to adopt bonus banking so to ensure long-term value is created. Employees, just like customers and shareholders, will have to directly lose in case the organization underperforms. Reference List Christie P. (Mar 2009) Ã¢â¬ËIs bonus banking the answer to banking?Ã¢â¬â¢ FinancialÃ World, March 2009. Cleverley, B. (2008) Tax Consideration in a Sales Incentive Program: Avoid Future Legal Surprises. Corporate information, 12(7), pp. 123-42. Glick, R (2009). Comparing the Recent Global and the 80Ã¢â¬â¢s Asian Financial Crisis. Economic Paper, 4(2), 7-22. Heineman B, Goodman, N and Downes, K. (2009) Balancing Long and Short term Goals to achieve the corporate strategies: Lessons from the Meltdown. Leeway journal of finance, 12(25). 32-40. Irv, M. (2009) Will the Bonus-Mulus System restore UBS Public Perception.Ã Centre of Finance, 2(1), pp. 10-23. Kamil, H and Rai. (2010) Effect of Financial Crisis on Foreign Banks Lending.Ã The NIS bank Working Paper, 10 (102).10- 34. Levi, N and Curtis, M. (2007) Respecting Consumer Right When Closing the Deal: Salespeople Motivation. ConsumersÃ¢â¬â¢ right and Information guide,Ã 8(2), pp. 12-28. Pert, L and Clark. (2010) The Role of Executive Compensation Plan in the Global Crisis. International journal of economics, 20(8), pp. 10-45. UBS (2011) UBS Global Home Page [Online] Available fromÃ https://www.ubs.com/global/en.html . Watkins, M and Warren, K. (2010) Adopting Reforms in the Current Pay Plan through Bonus Banking. Adept research journal, 3(6), pp 15-28.
Sunday, March 1, 2020
Essay on Public Opinion Essay on Public Opinion This is a free sample essay on Public Opinion: Public opinion, which can be swayed by the manipulation of the media and to some degree by the PresidentÃ¢â¬â¢s persuasion, greatly impacts the policies made by public officials. George Bush promised tax cuts if elected as President of the United States of America. He was able to convince the public that they should be able to spend their money rather than the government. According to the Gallup Poll of September 11-13, 2000 , 74% of the public was in favor of tax cuts. The mediaÃ¢â¬â¢s support of tax cuts was divided; therefore it was not as effective in swaying public opinion as when all media are united in their opinions. Even the Democratic leaders, who were generally against the tax cuts, were unable to prevent the tax cuts. This was due to Democratic leaders like Max Baucus, John Breaux, Blanche Lincoln, and Robert Torricelli who voted in favor of the tax cuts which was guided by the wishes of their constituents. Policies made dealing with Afghanistan cannot be compared to typical policies made by our government officials. These polices are a result of terrorist attacks on America. Because of the nature of the attacks, most everyone agrees on the same policies, which are in the best interests of our country. The ability of President Bush to set specific goals and a unifying cause, has been a major affect in gathering the support of both the people and the media. The Gallup Poll shows that about 90% of the people are in favor of President BushÃ¢â¬â¢s policies at this time . If public opinion should start to change, President Bush would probably reconsider his policies involving Afghanistan, as would any public official when trying to appeal to their constituents. ______________ is a professional essay writing service which can provide high school, college and university students with 100% original custom written essays, research papers, term papers, dissertations, courseworks, homeworks, book reviews, book reports, lab reports, projects, presentations and other assignments of top quality. More than 700 professional Ph.D. and MasterÃ¢â¬â¢s academic writers. Feel free to order a custom written essay on Public Opinion from our professional essay writing service.
Friday, February 14, 2020
Does the EU have negative impacts on small states in the EU Does it fringe them The divide between the north and the south - Research Paper Example Additionally, it is hard to identify the similarities among the foreign policies of these small states. On the other hand, it is a challenge to enhance the influential factor on their international relations. It comes to a point that we need to plan and strategize what we know and what we need know to identify and understand the challenges facing the small states. This article confirms such doubts by giving answers to four questions: what is a small state according to the European Union? What is the behavior of a small state in the European state? What are challenges facing the small states in the European Union? What are the general effects of European Union on the small states in the European Union? This paper adopts the thesis statement that European developments have brought out many alterations on small states. However, these alterations occur in both positive and negative measures. Smaller states are in consideration because their economic development happens to less than compared to other bigger states such as Britain and France. Additionally, the population level in small states happen to be low than the bigger states. In most cases, such small states have less influence on the decisions made by European Union. Such happenings happen to be in existence because decisions made by European Union during different summits affect these small states in general. For example, the regulations set to regulate the interest levels have affected the small states both positively and negatively. This research is beneficial since it initiates better understanding on the policies affecting small states either positively or negatively. Additionally, this research identifies the major reasons as to why such small states are affected by the policy developments made by European Union. In general, the research will offer differential weight on the benefits and effects of policy development by the European Union to the small states. The relevant question at hand