Queen of Diamonds Essay Example For Students

Sovereign of Diamonds Essay The books Queen of Diamonds and Aunt Parnettas Electric Blisters are very similiar in that the two of them representation the drawback of a negative view on life. Sovereign of Diamonds is an anecdote about a woman named Christine who is down on life and squanders her days drinking and celebrating until it finds her and she chooses to end her own life. The other book, Aunt Parnettas Electric Blisters, is about a woman who feels strange on the planet since she is Indian, and she lives in the place where there is white individuals. Auntie Parnetta and Chrstines issues are similiar, in that, they are both brought about by cynical perspectives towards life. Sovereign of Diamonds paints the ideal image of how a terrible mentality in everything exacerbates everything. The story begins in an emergency clinic where a woman named Christine is sleeping, wiped out. They make it understood to the peruser that Christine was not in the clinic only for this one event, however has invested a great deal of energy there in the past too. Christine was not one of those individuals who were debilitated constantly, however she was somebody who had gone out a ton of the time with her companions and drank. The drinking was the explanation that she was in the medical clinic. It not even once demonstrated Christine as being upbeat, she was consistently feeling awful, and never truly appeared to be satisfied with anything. Towards the finish of the book we discover that Christine is going to slaughter herself. The purpose behind which she chooses to end her own life is that there is nothing for her to live for, nothing that she had made for herself.Christine had done nothing in her life time sufficiently worth to live for. We additionally observe the image in Aunt Parnettas Electric Blisters. Auntie Parnettas Electric Blisters was a decent story with nearly a similar subject as Queen of Diamonds. The story is about an Indian woman whos refridgerator broke. The refridgerator was an image, in the story, of the woman in a universe of various individuals. The refridgerator was encircled by Indians that were not at all like it, a great deal like how Aunt Parnetta was in world encircled by white individuals. Auntie Parnetta saw this, and spun each contemplated it. She was overwhelmed by the possibility that she was living strange, and couldn't bear it. Auntie Parnetta didn't have an outer clash, it was something that she needed to sift through for herself. She didnt have a decent view on life, and she was distraught all the time as a result of it. The relationship of these two stories is that the two of them envolve and show the negative impacts of a critical demeanor. Christine and Aunt Parnetta had totally various issues, yet were both brought about by a similar issue. Their issues had nothing to do with each other, yet were comparative enough to be looked at. Their topics were both apparent, and indistinguishable.

List of the Current Legislation and Codes of Practice Relating to Equality

Enactment Purpose Disability Discrimination Act 1995Protects the privileges of each one of those with incapacities. It likewise puts an obligation on schools (and different associations) to dispense with obstructions to guarantee that people can increase equivalent access to administrations Disability Discrimination Act 2005 Places an obligation for schools to deliver a Disability Equality Scheme (DES) and an Access Plan. Schools must energize investment in all parts of school life and take out provocation and unlawful separation Race Relations(Amendment)Act 2000Outlines the obligation of associations to advance great connections between individuals from various races Special Educational Needs and Disability Act 2001 Makes it unlawful for instructive suppliers to victimize students with a unique instructive need or an inability Children Act 1989 Sets out the obligation of neighborhood specialists (counting schools) to offer types of assistance as per the necessities of kids and to gu arantee their wellbeing and government assistance Human Rights Act 1998Sets out privileges all things considered and permits them to make a move against specialists when their privileges have been influenced Children Act 2004Sets out the obligation to offer successful and open types of assistance for all youngsters and supports the ive Every Child Matters results Education Act 1996Sets out the school’s duties towards kids with extraordinary instructive needs.The Act likewise expects schools to give extra assets, hardware and/or extra help to address their issues Equality Act 2010Sets out the legitimate obligations of open bodies, including schools, to give fairness of chance to all residents. This unites nine fairness laws

Justification Report Essay Example | Topics and Well Written Essays - 500 words

Defense Report - Essay Example From among the host of distributions and diaries assessed, the accompanying three were really assessed: Logistics Management, Transportation Journal and Journal of Business Logistics. Nonetheless, since our association would just require one diary, I suggest the Logistics Management since it consents to the measures set for the most suitable diary in our calling. As a short outline of the diary, the Logistics Management brags of keeping â€Å"logistics and flexibly tie experts forward-thinking on the most recent news and patterns in transportation administrations, hardware and technologies† (EH Publishing Network, 2011). By buying in to it, our association would be side by side with the present news, patterns and offers that are significant in the administrations we offer. The point by point data that makes this diary special among the others are as per the following: 1. Cost and recurrence of distribution. Its itemized membership offer for new endorsers is point by point in t his: Cover Price: $99.00; Sale Price: $0.00; Savings: 100% (12 issues free conveyance inside US and Canada). Offered and conveyed once every month, new supporters are given an early on advancement of accepting free 12 bought in duplicates for the main year to empower us to attempt to benefit of their diary. 2. Content.

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

Gathering accounts - Essay Example FRS 2 'Representing Subsidiary Undertakings' subtleties the conditions under which a parent organization of auxiliaries ought to get ready and present solidified fiscal reports. The FRS additionally explains the way where the solidified records should be readied. According to the FRS the motivation behind the merged budget reports is to give point by point data about the exercises of the entire gathering of endeavors including the auxiliaries (ASB). The FRS embraces the meaning of a gathering as gave by the Companies Act 1985 as altered by the Companies Act 1989. In the arrangement of gathering accounts the essential thought ought to be the impact on the clients of the budget reports regarding their capacity to see the total monetary exercises of the gathering and to find out the introduction of the parent organization to hazard through its inclinations in the auxiliaries and investment in their exercises. Subsequently it becomes vital that the subjective parts of materiality are given full thought in regard of arrangement of the gathering accounts. The records of the auxiliaries are to be solidified as per the method set down in FRS 2. This requires union on a line-by-line premise and furthermore the evacuation of the all exchanges inside the gathering organizations. Generosity on obtaining is to be determined based on FRS 2 and FRS 7. So as to guarantee that the parent organization bunch accounts consent to the UK Generally Accepted Accounting Principles (GAAP) changes in accordance with the information from the auxiliary organizations' records should be made as the initial phase in the union procedure. These modifications administrations may identified with the benefits or misfortunes on removal of advantages and the notional intrigue and any legitimately controlled resources and liabilities that have been prohibited from the auxiliary records. The impact of merging the parent and the auxiliary organizations might be that the collection being attempted during the time spent combination may cloud the valuable data about the various organizations whose records are being united and by incorporation of the exercises in the solidified budget summaries. Consequently the parent organizations for the most part give a portion astute investigation of the exercises and their outcomes in the fiscal reports with helpful data on the different dangers and prizes, just as the development and potential for benefit for various part organizations of the gathering. It is additionally required that the budget reports of every auxiliary organization to be solidified ought to have the equivalent money related year end and should speak to the monetary outcomes for a similar bookkeeping period as that of the parent organization. At the point when the parent organization gains an auxiliary organization as per the FRS the recognizable resources and liabilities will must be gotten to the combination at reasonable qualities on the date the organization turned into the auxiliary. This is so in any event, when the procurement is made in various stages. Income An organization's budget reports have three significant parts. The asset report, salary proclamation and the income articulation. The monetary record gives an outline of the advantages and

How to (Im)properly Cross Register

How to (Im)properly Cross Register Among all the classes that MIT offers, it’s almost impossible to narrow them down to just 4 at the beginning of each semester (or 5 for the over-achievers or 6 for the eventually sleep-deprived). Well, at least we thought it would be, since our semesters are no longer clogged with GIRs. But actually, to our surprise, having a “plan” and a “major” and a course road “filled” up (quotation marks because neither of us have future vision), actually did make it fairly simple to choose our classes. We’re taking 6.00 â€" Intro to Computer Science and Programming (bleh so far) 6.042 â€" Math for Computer Science (just had our first exam, so bleh^2) CMS.100 â€" Intro to Comparative Media Studies (v interesting conversations bi weekly) AND !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!Animation 1!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! We’re super excited about this last class, because we’ve been dipping our toes into the art form for the past year now with some independent projects and the Borderline Project (which we’ll have to blog about one of these days). And now, we get formal instruction!!! Besides the level of excitement, there’s another difference between this class and our other classes this semester (which you can probably guess at by the title of this post). We are actually NOT taking this class at MIT, because *sigh* MIT doesn’t offer animation classes. BUT *excited inhale to prepare for a long run-on sentence* MIT offers this super duper cool opportunity to cross-register at 3 local schools â€" Massachusetts College of Art and Design (MassArt), Harvard, and Wellesley â€" which covers the bases for what classes MIT doesn’t offer, while also giving students an opportunity to check out what other school environments are like! *exhaaallleeeee* Now, without further ado, the excruciatingly detailed how-to-do-everything-that-you-can-possibly-do-incorrectly-while-cross-registering … oh and this was not from personal experience. Step 0: Decide you want to cross-register and begin the process just a few days before registration day. Step 1: Look up mass art course listing on google, and trust the first list that seems reasonable. Step 2: Locate the class you want to take on the list. Step 3: Find the professors email through his website, and email him expressing interest in the class. Step 4: Find the MIT cross registration instructions and follow those steps. Email the transfer credit examiner with the syllabus of the class (that the professor sent you) for approval. Step 5: Attend the first class, without being actually registered, because you dont want to miss any important information of this class you will definitely be taking. And don’t question the fact that your entire class is filled with people with day jobs. Step 6: Pick up the signed form from the transfer credit examiner. Step 7: Meet with your academic advisor for her signature. Step 8: Email the professor to email you their electronic signature, because you don’t want to commute again and email is a thing. Step 9: Attach said signature to your form. Step 10: Give in said form to the registration office in MassArts and then a copy to the one at MIT and audibly exhale a sigh of relief. Step 11: Go on with your day And so we did. The beginning of the semester has a certain feeling of frenzy (or at least for us it does) and this was just one thing to check off the list of many other administrative things to get done, so we were pretty pleased with ourselves. The next day, we went to the first Art Scholars meeting, where we ran into a friend who also happened to be cross-registering this semester at MassArt. And right before we were done talking, Danny asked, Just wondering, in the class you’re in, are there actual full time MassArts students or are they actual Adults with jobs.” And our friend said, “Oh wait, are you taking a continuing education class, you know, the ones for people who aren’t in college but still want to take classes? Because undergrads aren’t allowed to take those.” Our reactions began with initial denial and progressed to self-pity.The next morning on our way to class, we decided to call the registrar at MassArt to see if indeed we royally messed up, and indeed we did. Step 12: Express your self-pity to the MassArt registrar through “oh no’s” and “ahhs” and hope the registrar will help you fix the problem so you can sign up for a class you are actually allowed to sign up for. Step 13: Go the MIT registration office, again, but this time to pick up your bad form and explain that you accidently went through the entire registration process for the wrong class and are trying to sign up for the same class, but the one offered for undergrads. Step 14: Go through multiple stressful email correspondences with said MassArt registrar (who luckily turned out to be super nice and very willingly helpful) to find a class with open spots that also fits your schedule. And jump excitedly when said class is found! Step 15: Realize that said class is actually happening right now and go in person to the class (which is almost over) to introduce yourself to the professor, ask for their signature and hope that they are nice enough to still do so even though you just missed 90% of the first class. Step 16: Realize that the professor is actually really nice, understanding, and willing to sign your forms. IT’S FRIDAY NIGHT NOW SO YOU CAN’T TURN IN YOUR NEW FORMS UNTILL MONDAY MORNING = A WHOLE 2 DAYS OF WAITING IN LIMBO ~2 days pass~ Step 17: Go yet again to the MassArt registration office to turn in your new form, get it signed off by the registrar and then finally get a long awaited confirmation that you have successfully registered. Step 18: Go back to the MIT registration office (and get greeted “Oh hello again.”) to turn in a copy of your corrected form. Step 19: Celebrate! If there’s anything to take away from this, it’s that if you want to cross register, make sure you start early, are registering for the correct class, and steps 2-9 are probably correct things to do if you’re signing up for a class you’re allowed to sign up for. (another qualification: you shouldn’t use this post as a guide to cross-register, instead use this). We definitely learned our lesson, but it was definitely worth it. We just had our first class (which was the second class of the semester) this past Friday and we absolutely loved it! Also, It’s nice to get out of the MIT bubble sometimes. Post Tagged #cross-registration #The Borderline at MIT

How to (Im)properly Cross Register

How to (Im)properly Cross Register Among all the classes that MIT offers, it’s almost impossible to narrow them down to just 4 at the beginning of each semester (or 5 for the over-achievers or 6 for the eventually sleep-deprived). Well, at least we thought it would be, since our semesters are no longer clogged with GIRs. But actually, to our surprise, having a “plan” and a “major” and a course road “filled” up (quotation marks because neither of us have future vision), actually did make it fairly simple to choose our classes. We’re taking 6.00 â€" Intro to Computer Science and Programming (bleh so far) 6.042 â€" Math for Computer Science (just had our first exam, so bleh^2) CMS.100 â€" Intro to Comparative Media Studies (v interesting conversations bi weekly) AND !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!Animation 1!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!! We’re super excited about this last class, because we’ve been dipping our toes into the art form for the past year now with some independent projects and the Borderline Project (which we’ll have to blog about one of these days). And now, we get formal instruction!!! Besides the level of excitement, there’s another difference between this class and our other classes this semester (which you can probably guess at by the title of this post). We are actually NOT taking this class at MIT, because *sigh* MIT doesn’t offer animation classes. BUT *excited inhale to prepare for a long run-on sentence* MIT offers this super duper cool opportunity to cross-register at 3 local schools â€" Massachusetts College of Art and Design (MassArt), Harvard, and Wellesley â€" which covers the bases for what classes MIT doesn’t offer, while also giving students an opportunity to check out what other school environments are like! *exhaaallleeeee* Now, without further ado, the excruciatingly detailed how-to-do-everything-that-you-can-possibly-do-incorrectly-while-cross-registering … oh and this was not from personal experience. Step 0: Decide you want to cross-register and begin the process just a few days before registration day. Step 1: Look up mass art course listing on google, and trust the first list that seems reasonable. Step 2: Locate the class you want to take on the list. Step 3: Find the professors email through his website, and email him expressing interest in the class. Step 4: Find the MIT cross registration instructions and follow those steps. Email the transfer credit examiner with the syllabus of the class (that the professor sent you) for approval. Step 5: Attend the first class, without being actually registered, because you dont want to miss any important information of this class you will definitely be taking. And don’t question the fact that your entire class is filled with people with day jobs. Step 6: Pick up the signed form from the transfer credit examiner. Step 7: Meet with your academic advisor for her signature. Step 8: Email the professor to email you their electronic signature, because you don’t want to commute again and email is a thing. Step 9: Attach said signature to your form. Step 10: Give in said form to the registration office in MassArts and then a copy to the one at MIT and audibly exhale a sigh of relief. Step 11: Go on with your day And so we did. The beginning of the semester has a certain feeling of frenzy (or at least for us it does) and this was just one thing to check off the list of many other administrative things to get done, so we were pretty pleased with ourselves. The next day, we went to the first Art Scholars meeting, where we ran into a friend who also happened to be cross-registering this semester at MassArt. And right before we were done talking, Danny asked, Just wondering, in the class you’re in, are there actual full time MassArts students or are they actual Adults with jobs.” And our friend said, “Oh wait, are you taking a continuing education class, you know, the ones for people who aren’t in college but still want to take classes? Because undergrads aren’t allowed to take those.” Our reactions began with initial denial and progressed to self-pity.The next morning on our way to class, we decided to call the registrar at MassArt to see if indeed we royally messed up, and indeed we did. Step 12: Express your self-pity to the MassArt registrar through “oh no’s” and “ahhs” and hope the registrar will help you fix the problem so you can sign up for a class you are actually allowed to sign up for. Step 13: Go the MIT registration office, again, but this time to pick up your bad form and explain that you accidently went through the entire registration process for the wrong class and are trying to sign up for the same class, but the one offered for undergrads. Step 14: Go through multiple stressful email correspondences with said MassArt registrar (who luckily turned out to be super nice and very willingly helpful) to find a class with open spots that also fits your schedule. And jump excitedly when said class is found! Step 15: Realize that said class is actually happening right now and go in person to the class (which is almost over) to introduce yourself to the professor, ask for their signature and hope that they are nice enough to still do so even though you just missed 90% of the first class. Step 16: Realize that the professor is actually really nice, understanding, and willing to sign your forms. IT’S FRIDAY NIGHT NOW SO YOU CAN’T TURN IN YOUR NEW FORMS UNTILL MONDAY MORNING = A WHOLE 2 DAYS OF WAITING IN LIMBO ~2 days pass~ Step 17: Go yet again to the MassArt registration office to turn in your new form, get it signed off by the registrar and then finally get a long awaited confirmation that you have successfully registered. Step 18: Go back to the MIT registration office (and get greeted “Oh hello again.”) to turn in a copy of your corrected form. Step 19: Celebrate! If there’s anything to take away from this, it’s that if you want to cross register, make sure you start early, are registering for the correct class, and steps 2-9 are probably correct things to do if you’re signing up for a class you’re allowed to sign up for. (another qualification: you shouldn’t use this post as a guide to cross-register, instead use this). We definitely learned our lesson, but it was definitely worth it. We just had our first class (which was the second class of the semester) this past Friday and we absolutely loved it! Also, It’s nice to get out of the MIT bubble sometimes. Post Tagged #cross-registration #The Borderline at MIT

LGBTQ Discrimination and Landmark Supreme Court Case - Free Essay Example

Throughout time people of all ethnicities, cultures, and sexualities have faced discrimination. Some due to the culture of the time or region and some due to religion; other time due to incorrect facts or misconceptions. The United States has often been slow to adapt to the changes accepted in many other countries. But through litigation, changes have been put into motion that has let our society chose new paths free of past discrimination issues; such as the decision, the supreme court handed down to end segregation with Brown v the board of education which repealed an earlier decision in Plessy v Ferguson. As a country we are seeing old decisions which upheld discrimination based on sexuality overturned. Our constitution is a living document, meant to evolve and grow as our nation grows, this allows new interpretations over time. By looking at court cases before the courts in the past and recent times, the path of change can be shown clearly and an argument for further change can evolve.One of the earlier cases brought before the supreme court was Plessy v Ferguson, which upheld segregation by race. The court held that the idea of separate but equal was within the constitution and did not violate the thirteenth or fourteenth amendments. The majority opinion was delivered by J. Brown (Brown 1896) who in the text of his decision states Laws forbidding the intermarriage of the two races may be said in a technical sense to interfere with the freedom of contract, and yet have been universally recognized as within the police power of the State. (Welcome to Lii, nd) Many years later the supreme court would hear a case on marriage between races, Loving v Virginia. The majority opinion was delivered by Chief Justice Warren, (1967) who held that not allowing inter-racial marriage was a violation of the fourteenth amendment and in that opinion, Chief Justice Warren said, Marriage is one of the basic civil rights of man, fundamental to our very existence and survival. (Welcome to lii. nd) A statement that would be used by many to gain support for same-sex marriages, as well as to show that civil unions were comparable to the separate but equal issues of the past.My contention is that these cases became the fore-runners for the later decisions on same sex marriage, many states had passed laws either in favor of same-sex marriages, banning them or allowing civil unions only. In 1996 the President Bill Clinton signed a bill into law which prohibited same-sex unions on a federal level. (CNN.com 2013) States still had the right to allow marriage or deny the right to marry, many states brought forth laws and many lawsuits were filled on both sides. But in 2015 the supreme court took the case of Obergefell v Hodges and by very close margins of 5-4 held that states must allow same-sex marriage. In their article for CNN, Vogue and Diamond (2015) wrote The U.S. is now the 21st country to legalize same-sex marriage nationwide, including territories. Married same-sex couples will now enjoy the same legal rights and benefits as married heterosexual couples nationwide. In his majority opinion Justice Kennedy (2015) said The history of marriage is one of both continuity and change. Changes, such as the decline of arranged marriages and the abandonment of the law of coverture. (Welcome to Lii) This case was one of the most important for the LGBTQ community, giving them one of the most basic of rights, that of the right to marry; and Justice Kennedys brief showed that marriage and our constitution was ever changing. Much like the previous decision to allow inter-race marriage changed public perception along with law.In recent times we have seen more cases brought before the court and more laws to protect LGBTQ put into place, but we have also seen more laws that restrict protections. Discrimination based on sexuality or gender is more common than many might think. Recently several states have passed so called Bathroom bills to keep people who do not identify as the sex assigned to them at birth from using their bathroom of choice. The rhetoric is that it might lead children to be harmed by people pretending to be transsexual in order to commit a crime or that those who are transsexual are more likely to molest children. However, when pressed on the issue those opposed to either sharing the bathroom with someone who is Transsexual or installing gender neutral bathrooms cannot point to a legitimate scientific study that supports their suppositions. In fact, there is research to indicate this is just not true, in an article published by ABC news written by Steve Borrello (2016) he states that in all the municipalities that have laws protecting transsexuals and their access to public facilities that None of those jurisdictions have [sic] seen a rise in sexual violence or other public safety issues due to nondiscrimination laws. The supreme court was reported to be taking on a gender and bathroom use case, but it was announced 2017 that they would not hear the case but instead returned it to a lower court. Works Cited Welcome To Lii https://www.law.cornell.edu/ Supreme Court Of the United States Home https://www.supremecourt.gov/ Same-sex Marriage-Fast-Facts https://www.cnn.com/2013/05/28/us/same-sex-marriage-fast-facts/index.html Supreme Court Rules States Must Allow Same-sex Marriage CnnpoliticsAriane Vogue-Jeremy Diamond https://www.cnn.com/2015/06/26/politics/supreme-court-same-sex-marriage-ruling/ Sexual Assault and Domestic Violence Organizations Debunk bathroom Predator MythStevie Borrello https://abcnews.go.com/US/sexual-assault-domestic-violence-organizations-debunk-bathroom-predator/story?id=38604019

Requirements For Managing Banking Risks Example For Free - Free Essay Example

Sample details Pages: 14 Words: 4060 Downloads: 6 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Risks are inherent in banking business and they cannot be avoided. To absorb losses associated with these risks, the minimum amount of capital required to be kept by the bank should be assessed. Banking risks like credit risk, market risk and operational risk are taken into account while determining minimum capital requirement. Don’t waste time! Our writers will create an original "Requirements For Managing Banking Risks Example For Free" essay for you Create order Capital reduces the risk of failure by providing protection against unexpected losses. Capital requirement plays an important role in the supervision and regulation of banks. The Basel Committee on Banking Supervision is the committee which sets standards for calculating capital requirement. It proposes differentiated approaches to calculate capital for all the banking risks. In India, the capital ratios of banks observed were generally low and some banks were seriously undercapitalized. Reserve Bank of India adopted the Basel framework prescribing 9% of capital to risk weighted assets for all banks operating in India. TABLE OF CONTENTS Introduction Banking is one of the most regulated industries globally and the rules governing bank capital are one of the most important aspects of such regulation. There are 2 reasons why the banks should be regulated first, the risk of systemic crisis and second, the inability of depositors to monitor banks. So, bank failures are triggered by inability of banks to honour repayment commitments to their creditors on time. Capital reduces this risk of failure by providing protection against unexpected losses. Greater the banks capital funds, greater the amount of assets that can default before bank gets insolvent and lower the risk of bank. Apart from absorbing losses, capital can also serve other purpose of banks. When any bank has adequate capital, investors look upon it as a safe investment option and so bank has ready access to the financial market. Thus regulating the amount of capital that a bank should hold is focused at reducing the risk of banks taking undue risks or expanding beyon d their ability. There are various types of banking risks: Credit Risk: It refers to the consequences related to defaults or non-fulfillment of contracts. Market Risk: It refers to risks that result from changes in the money price and capital markets. Operational Risk: It refers to the risk of loss resulting from failed or inadequate internal people, processes and systems. The amount of capital which is considered necessary by banks to absorb the potential losses associated with banking risks credit, market, operational, and other risks is defined as Economic Capital. One aspect of bank regulation is to ensure that depositors who do not need to withdraw at present are given enough assurance that they will be paid in the future. This assurance can be provided in 3 ways adequate bank capital, deposit insurance and subordinated debt. Capital adequacy is essential for the long term stability of the banks. Banks need to assess carefully the internal and future requirements of capital on the basis of the risks taken during their operation. Basel Committee on Banking Supervision (BCBS) is the committee which began thinking in terms of setting capital standards for banks and published Basel Accords. It sets a framework on how depository institut ions and banks must calculate their capital. The Committee established a capital measurement system known as  Basel I in 1988. Under Basel I, banks were required to hold capital for credit and market risk. The 2 principal objectives of Basel I were To ensure adequate level of capital in international banking system and To no longer build volumes of business without adequate capital backing. When the BCBS Committee decided to revise the original Basel accord (Basel I) in 1998, it had hopes for an international standard for regulation of capital. The Committee claimed that the new accord would remove and cure the defects in the existing regulatory and notably improve the soundness and safety of the international banking system. In 2004, Basel I was replaced by Basel II. Under Basel II, banks were also required to compute capital charge for operational risk. Basel II consists of 3 pillars: Pillar 1: Minimum capital requirement The first pillar mainly deals with the maintenance of regulatory capital which is calculated for 3 major risk components that a bank faces credit risk,  market risk and  operational risk. Pillar 2: Supervisory review process The second pillar basically deals with the first pillars regulatory response, giving  regulators  improved tools over those which were available under Basel I. It mainly provides a framework to deal with the other risks any bank may face, like  reputational risk, systemic risk,  concentration risk,  pension risk,  strategic risk,  legal risk and  liquidity risk. Pillar 3: Market discipline The third pillar requires institutions to disclose details on capital, risk exposures, risk assessment processes and capital adequacy of institutions. Under USs Federal Bank regulatory agency definitions, to be adequately capitalized, a  bank must have a  Tier1 capital  ratio of greater than 4%, a combined Tier1 and  Tier2 capital  ratio of greater than 8% and a lev erage ratio of greater than 4%. According to Reserve Bank of India (RBI) norms for banks in India, banks must have common equity of 3.6%, Tier1 requirement of 6% and Total Capital  of 9  % of risk weighted assets. Risk based regulatory capital standard uses 2 levels of bank capital Tier1 and Tier2. Tier1 capital  is the core measure of financial strength of a bank from point of view of a regulator. It is composed of  core capital that consists of  common stock  and retained earnings  but may also include non-cumulative non-redeemable preferred stock. Tier2 capital is also known as supplementary capital. It includes a number of important constituents of capital base of a bank. Leverage ratio is any ratio which is used to calculate financial leverage of a bank so as to get an idea of the methods of financing  of bank or to measure banks ability to meet financial obligations. The Capital ratio  is the percentage of capital of a bank to its risk weighted  assets. Basel II requires the capital ratio to not to be lower than 8%. Basel III was developed in response to deficiencies revealed in late 2000s financial crisis. Under Basel III, banks will be required to hold common equity of 4.5% and Tier1 capital of risk-weighted assets of 6%. Basel III also introduces the additional buffers of capital 2.5% of mandatory capital conservation buffer 2.5% of discretionary countercyclical buffer capital during high credit growth period Basel III also introduces a minimum of 3% leverage ratio and 2 required liquidity ratios which are required by a bank to hold sufficient high quality liquid assets so as to cover its net cash flow over 30 days. Problem Statement Determination of total minimum capital requirement by banks to absorb losses associated with credit, market and operational risks and its impact on Indian Banking System. Purpose of Study Market values of bank assets are more volatile than those of the manufacturing firm. Bank assets bear the credit risk i.e. borrower defaults, market risk i.e. interest rate fluctuations, and operational risk i.e. failure of internal systems or people. Also, the bank needs liquidity so as to pay off its creditors with whom they have entered into contracts at various points in time. If banks have to increase capital relative to the risk of the assets they hold, the adequate capital required by banks to run the business to stay viable and survive should be determined. Significance of Study Risk is inherent in business of banking and banks cannot survive by avoiding risk. If banks have low risk assets, they can remain safe. However, in practice, banking assets are risky. Therefore, banks must increase capital relative to the risks of the assets that they hold. In the US mortgage crisis 2007-2009, it was evident that the banks were not holding enough capital to support the risky mortgage activities. Capital regulation for banks intends to discipline banks and to promote financial stability. Methodology Qualitative method is used to carry out this research as this method helps in gaining indepth information on Basel implementation and its impact from bank employees in form of questionnaires. This approach represents true picture and allows exploring the process effectively. The open ended nature of this project is another reason why this method is used for analysis. Literature Review Regulation of capital is required to reduce the risks faced by banks. These risks may be Credit risk, Operational risk or Market risk. So to absorb such risks the amount of capital necessary is to be maintained. This ensures long term stability of banks. Capital which needs to be maintained by banks to absorb unexpected loss and risks is regulated through Basel norms. Basel norms define the amount of capital to be set aside using various models. To improve the supervision of banks worldwide, Basel Committee on Banking Supervision (BCBS) constituting Central Bank Governors, was formed in 1974. This committee published a set of requirements on minimum capital to be maintained by banks mainly focussing on credit risk in 1988 known as Basel I. It was adopted by India in 1999. In 2004, a new set of guidelines were passed known as Basel II which were to be implemented by Indians banks from the year 2007. This deadline was extended later to 2008-09. Due to various issues faced by ba nks in this period, new guidelines known as Basel III were released in 2010. Basel III is to be implemented in India from 2013. This paper deals with: How much capital needs to be maintained by banks, how Basel norms help banks in maintaining capital adequacy and its effectiveness on workings of banks. This paper discusses various norms set for capital adequacy, its evolution and its impact on Indian banking system. That is, this paper discusses the impact of Basel II, need of Basel III and impact of proposed Basel III on Indian Banking system. This paper also suggests few modifications which are required to be made in the new accord (Basel III) on the basis of evaluation of its impact on banking industry. Basel I did not take into account the risk of mortgages. It considers every mortgage activity in the same category of risk and regardless of the creditworthiness of the borrowers. Basel II treated mortgage activities depending on the risk associated with the loan and required banks to establish models appropriate to estimate risk based capital that they need to hold so as to cover unexpected losses. The minimum capital requirement takes into account credit risk which can be determined by two approaches. First, mapping ratings of given by external credit rating agencies to capital requirements (Standardized Approach). Second, mapping banks internal ratings to default probabilities (Internal Rating Based Approach). The increased importance of trading activities at many banking companies has highlighted the exposure of bank to market risk that is risk of loss from undesirable movements in financial market prices. The capital requirement for market risk is based on the internal value-at-risk model of the bank. A value-at-risk model makes an estimate of the maximum amount that any bank can lose on the portfolio over a certain holding period with a known degree of statistical confidence. Under Basel I, there was no reference made to capital requirement associated to operational risk. There were 3 methods presented to calculate the operational risk capital charge Basic Indicator Approach, Standar dized Approach and Advanced Measurement Approach. It was investigated whether capital regulations have an effect on bank risk-taking and it was observed that Bank with high capital buffer position would adjust risk-taking and the capital adequacy ratio in the same direction and Bank with low capital buffer position would adjust the capital faster than the bank with high capital buffer. Capital Ratio is calculated to maintain the minimum requirement of greater than 8% of banks capital to risk-weighted assets. Multiplying the capital requirements for operational and market risk by 12.5 (which is the reciprocal of 8% i.e. the minimum capital ratio) and adding the result to the sum of risk weighted assets for credit risk to determine total risk-weighted assets. Capital (Credit Risk + Market Risk + Operational Risk) In India, RBI requires banks to maintain at the minimum 9% of capital to risk weighted assets ratio (CRAR). Banks in India follow Standardized approach for cre dit risk, Basic indicator approach for operational risk and Standardized approach for market risk. Basel I did not require banks to hold sufficient capital to support the mortgage lending activities. Basel II was intended to solve this problem. However, the Basel II models were very complex and costly to implement. Basel II capital varies across the model and segmentation schemes which provide banks with options to choose the approach which results in making them hold least required capital. Basel II was introduced because it was more risk sensitive. The introduction of Basel II norms required recapitalization of banks balance sheet. As a result, Capital Adequacy Ratio (CAR) in most Indian banks is above 12%. The Basel II Accord for bank capital regulation was designed to align regulatory capital to the risks which were underlying, by encouraging better systematic risk management practices, mainly in the area of credit risk. An overview of the objectives, main features and analytical foundations of the Accord was provided. The impact of the new bank regulation on the global banking system was analyzed through possible changes in bank behaviour. Also set of issues around analytics of risk such as correlations and portfolio aggregation, model validation, operational risk metrics and summary statistics of a banks risk profile were studied. Issues brought about by Pillar 2 i.e. supervisory review and Pillar 3 i.e. public disclosure were also studied. In the research done till now, the possible effects of Basel II rules on the pricing of bank loans have also been analyzed. Basel II failed to live up to the expectations and so the reasons of its failure were studied. The failure of Basel II was the result of regulatory capture. The rules of international capital regulation were transformed by a small group of international banks to maximize the profits. The financial distress in 2007 raised so many doubts about the adequacy of regulations. So an acade mic discussion on Basel II took place on technical issues concerning the Pillar 1 methodology for calculating capital requirements and its implications. Only a range of resources, actors, and institutions which shape the decision making outcomes in the Basel Committee were understood. Basel II was aimed to address few weaknesses of Basel I framework of capital adequacy for banks. Basel II incorporated more detailed calibration (credit risk) and required pricing of other forms of risks. Regulators allow large banks to use risk assessment (with sophisticated risk management systems) based on their own models to determine the min. amount of capital which they are required to hold as buffer against unexpected losses (by the regulators), under Basel II framework. However, 2007-2008 crisis challenged the usefulness of few important elements in Basel II accord. Recapitalization of banks reveal that internal risk models of few banks performed very poorly and also greatly under estimat ed risk exposure which forced banks for reassessment and repricing of credit risk. This, to some extent, reflects the difficulties for low probability but large events of accounting. Problems with Basel II: Problem with Pillar 1: No concentration Penalty No country specific risk Unclear and inconsistent definition of capital Problem with Pillar 2 and Pillar 3: Supervisors cannot be forward looking Inefficient markets A more basic problem with Basel II is that it creates bad incentives to miscalculate credit risk. As banks are allowed their own models to use to assess risk and also to determine the amount of regulatory capital but they might have been tempted about their risk exposure, to be over optimistic in order to minimise required regulatory capital and maximise return on equity (ROE). Basel III: New norms aim to improve quality and quantity of capital. The major components of capital are retained earnings and common equity. Also, deferred tax assets, investments in financial institutions and mortgage servicing rights should constitute less than or equal to 15% of common equity. Figure: Regulatory Capital Adequacy Levels New norms focus on financial stability of the whole system rather than an individual bank. Basel III Reform Proposal: To raise consistency, transparency and quality of capital base Improvement in the definition of capital Enhance risk coverage by capturing on balance sheet and off balance sheet risks Introduction of leverage ratio Forward looking provisioning Holding buffers of capital Figure: Macrofinancial Stability Framework Basel III requires banks to have core capital percentage higher than other means. Core capital includes equity and reserves. This involves raising Tier 1 capital to 9.5% from 6% currently. This means increasing equity requirement to 8% from 4%. Figure: Basel III Reform Programme Implementation Figure: Basel III Capital Ratio Methodology This section of the research covers the methods used for collection of data and its analysis. The analysis is done on the basis of literature review. Both primary and secondary data are used for proper analysis. Research Design Research design lays a foundation to conduct the research project. This research explores the literature review on Basel norms and the impact on Indian banking system. Primary research questions were answered on the basis of the information collected from banks employees. Information was also collected from BIS website and other journals. Procedures The procedure carried out involves defining the problem, forming an approach, designing the research, collecting data, analysing the data and representing the analysis in the form of a report. The research method chosen for the project is Qualitative as explained earlier. Primary Data: It is collected in the form of questionnaire relating to advantages and disadvantages of implementing Basel II and the impact of implementing Basel III. Secondary Data: It is collected from journal articles and other publications relating to Basel norms. Participants Information is collected from banks employees covering few public, private and foreign banks (in total 30) in India. The employees were clearly and fully informed about the research before collecting answers from them. Instrumentation Questionnaire was used to collect information relevant to the research. A set of questions were prepared and asked from various banks employees. This questionnaire was based on the literature review and other secondary data collected on Basel norms and their impact. It consisted of all closed ended questions. For reliability and validity purposes, the questionnaire was pilot tested so as to check if any rephrasing needs to be done. Analysis and Findings The analysis is done on the basis of information obtained from banks employees in the form of questionnaire. The results are reviewed each question at a time and a conclusion is given on the basis of findings. What is the main objective of Basel Accord? According to private banks, it will make the banks compete globally. According to foreign banks and nationalized banks, it will bring stability and soundness in banking system. And according to most other bank respondents, it will reduce bank failures by maintaining capital adequacy ratio. With introduction of Basel II, did Indian Banking system improve? Definitely introduction of Basel II improved Indian banking system. It provided the banks with a competitive edge and stakeholders with better pricing of services. What is Capital Adequacy Requirement in Basel III? 50% employees, majorly from private and foreign banks, said 8%. 30% banks maintain 9%. Others didnt know about that. Do you think new Basel Accord will help improve the banking system? 75% said yes but they also thought that it will be a tough job to maintain the requirement. Few said that Basel II was better. Few didnt know what impact Basel III will have on banking system. Do you think increase in capital reserve is required to manage banking risks as per Basel norms? Increase in capital has its own advantages and disadvantages. So 90% said that increase is required whereas 10% said that other ways can be used to manage bank risks. Whether new Basel accord requires new skills? Since Basel III is similar to Basel II, it does not require new people. So all respondents said that if required they can train their existing staff. What will be the impact of Basel III on Indian banks? Majority replied stability of system. While two of the respondents mentioned that it might lead to further problems and maybe another crisis. Summary, Conclusion and Recommendations Summary From the above analysis, it can be said that Indian banks are on their way to adopt Basel III. We can note various viewpoints of various banks. Few banks feel that Basel II was successful in managing banking risks and there is no need for Basel III but others feel that Basel III implementation would be more helpful in managing bank risks. They also feel that implementing Basel III is a big challenge but at the same time they realize that to compete with other banks, to expand globally and to meet international standards, implementation of Basel III is very much required. Thus Basel III should be implemented by Indian banks as fast as possible. There are various Impacts of implementing Basel III on Indian Banking System as per the opinion of the employees, which are: Positive Impacts: It could strengthen the credit and capital profile of Indian banks. It will enhance capitalization. It will improve risk adjusted capital ratios of banks. It will solve solvency issue s. Negative Impacts: It poses significant dilution risk. It might moderate return on equity of banks i.e. by 1% for private sector banks and by 2% to 3% for PSU banks and so make it difficult to retain investor. It will make hard for banks to grow. Figure: Impact of Deductions from Capital Conclusion Though Basel II was a bold step towards managing bank risks, it took a long time to put it all together and as we can see it is still not completely implemented. Now, Basel III is much more of a job in rush. Basel IIIs effective implementation will lead to strong, stable and sound Indian bank. It would lead to efficient management of capital and will improve banks profitability. Basel III mitigates the risky behaviour of banks and changes banks approach towards risk management. Around 15 PSBs (as of December 31, 2011) have core Tier I capital less than 8% and 8 of them have less than 7%. So when banks with low Tier I increase their capital (to 9%), their ROE could drop. Large bank could compensate the decrease in ROE by raising lending yields and small banks might also try the same. However, few banks (with core capital less than 7%) might have to bear the loss in ROE. Private Banks are already well capitalised so implementing Basel III might not significantly impact their ea rnings. In fact, Private banks competitive position might improve when PSBs increase their lending yields. Limiting the upside potential for private banks could be limited by the higher minimum core capital requirement. PSBs would require government support as they will fall short of capital adequacy requirement. Basel III is a new layer over Basel II and therefore inherits few problems of Basel II. Basel III is very good for reducing foreseeable risks but not for unforeseeable risks. Challenges that might be face on implementing Basel III: Functional Challenges Functional specification of new regulatory requirements (e.g. stress testing, limit system, risk quantification) Functional integration of new regulatory requirements into existing capital and risk management Technical Challenges Technical implementation of new regulatory requirements Data availability and quality Technical integration into existing risk management systems (e.g. interfaces) Orga nizational Challenges Coordination of different units as well as within the group Responsibilities within implementation and beyond Availability of resources Recommendations Basel III is required to be implemented in India for betterment but Basel III does not take into consideration few aspects and so improvements in the norm are required. Following are some of the problems with Basel norm which are required to be improved upon: Difference in regulatory risk weights assigned by different banks due to difference in methods used by these banks to assess risk weights. Risk weights are assigned on the basis of riskiness of securities in the past and so same weights are assigned to such securities for the future. Basel does not make adjustment for institute specific diversification and concentration. Basel III would encourage banks to find low risk weight asset with return. This would mean that banks would increase their lending to sovereign. And since sovereign default is possible, this might lead to next crisis. Bankruptcy laws should be focussed in detail. Basel III also does not deal with another regulatory problem that is banks try t o minimize their capital costs by shifting buckets of risk using Credit Default Swaps (CDS). No concentration penalty fixed.

Fiction Analysis of aP and the Lesson Essay examples

The theme of desire has been portrayed in many novels and stories. Perhaps the most well-known depiction of desire can be found in the Bible. In the Book of Genesis, a snake tempts Adam and Eve to eat the forbidden fruit of the Tree of Knowledge after he convinces them that they will gain God’s knowledge of good and evil and be protected from death. Despite God’s word to not eat of the fruit, Adam and Eve did so anyway. Surely, this story portrays temptation; however, beyond the theme of temptation lays the theme of desire. Knowing it was wrong, Adam and Eve ate the fruit because they had the desire for what the snake promised them. Similarly, Toni Cade Bambara and John Updike also display the theme of desire in their short stories. In†¦show more content†¦The setting is very important in both stories in that it defines not only the plot, but the characters themselves. Sylvia and Sammy are products of their environments. Being in an unpleasant environment would definitely put any individual on edge. Because both characters are unhappy with their surroundings, both are quite cynical. Aside from comparing one customer to a witch, Sammy also refers to others as â€Å"sheep† and points out â€Å"house-slaves in pin curlers† (Updike 3). Sylvia is also cynical in the way she talks of Miss Moore. At a point, Sylvia states that she is a â€Å"nappy-head[ed] bitch†, which in no means is a proper way for anyone, let alone a child, to speak (Bambara 1). Despite being so cynical, the reader finds that both characters have another side as well. When faced with desire, Sylvia’s and Sammy’s mannerism changes. The reader sees Sylvia in a whole new way when she sets eyes on the fiberglass sailboat. In fact, Sylvia’s entire persona changes. Not only is she dumbfounded by the price of the sailboat, but she is awestruck by its greatness. She grows quite mad about the price; nonetheless, this is the beginning of the change of her character and train of thought. This is where she realizes the economic imbalance of the world. Similarly to how Sylvia was taken by the sailboat, Sammy is captivated by the girls’ physical appearance, especially Queenie. This is made evident by the imagery of the text from his physical description of them. Bambara and UpdikeShow MoreRelatedEssay on Textbook Analysis: the American Journey1499 Words   |  6 PagesTEXTBOOK ANALYSIS: THE AMERICAN JOURNEY Textbook Analysis The American Journey Michele C. Bennett Grand Canyon University: EED 465 January 22, 2011 Textbook Analysis: The American Journey Before using a social studies textbook, a deep analysis of its contents will be required. How the book covers the topics in comparison to the definition of, social studies bring forth the relevance of the book in effective planning and instruction. Whether or not the book conveys separate classroomRead MoreComparative Narrative1386 Words   |  6 Pageseveryday hum-drum life. It is a time for him or her to escape what he or she knows to experience and view life through another’s eyes. For one who truly enjoys this pastime, it does not matter what the genre is. Whether short fictional tales or non-fiction stories. Whether poetry or essays the reader escapes through reading. This paper will compare the elements of narrative in two fictional and two non-fictional works, exploring such areas as the credibility, entertainment value and superiority withinRead MoreEssay on Module 8 - My Personal Management Plan958 Words   |  4 PagesLanguage Teaching: Foundations amp; Methodologies Ms. Kristin Basinger April 11, 2012 Module 5 – Beginning SEI Strategies 2 Vocabulary Development Approaches | Analysis (Describe the approach, determine how to use the approach lessons.) | Application (After analyzing, offer specific ways to apply the approaches in lessons.) | Advantages | Extension Strategies | TPR | Total Physical Response or TPR is an approach that is systematically used for giving commands followed by physical responsesRead MoreThe Key Literacy Skills That Have A Comprehensive Knowledge Of Literacy1420 Words   |  6 Pagesunderstandings are ultimately skill based learning, I believe that students firstly require direct instruction and scaffolding to be able to navigate through academically appropriate concepts and ways of working. Throughout the unit plan, there is allocated lesson time for clear and direct literacy instruction, with the inclusion of guided activities and practice. The unit plan was created for Year 10 History students studying World War II. It is important, that students at this stage of their education understandRead MoreOedipus-a Tragic Hero706 Words   |  3 Pageshonestly greater than what was warranted. â€Å"The conflict between the all-powerful will of the gods and the vain efforts of human beings threatened with disaster; resignation to the divine will, and the perception of one’s own importance is the lesson which the deeply moved spectator is supposed to learn from the tragedy† (Knox, 1998). Oedipus is considered to be a good person; no better or worse than anyone else however he holds the noble position of King and therefore is held to a higher standardRead MoreEssay on The Necklace953 Words   |  4 Pagesthe house outcome. The author surprises his readers with a perfectly detailed twist at the end of the story. Losing the necklace was a turning point in Mathidle’s life and the best thing that ever happened to her. All that glitters is not gold. A lesson Mathilde Loisel had learned during her journey of discovering the greed. Greed is a curse that blocks people’s vision from seeing the realistic value of things. Greed is a black hole in people’s eyes absorbs the satisfaction in their properties, makingRead MoreThe Curriculum And Expression Of A System Of Personal Values975 Words   |  4 Pagesunderstanding of moral and ethical matters, and give expression to their hopes and ideals† (BOSTES, 2015) Year 7 content explores the representation of reality through fiction; topics such as adventures and friends and enemies remain broad regarding text selection which â€Å"allows for opening possibilities and allowing choice† (Sawyer, 2010, p. 21) a selection of resources range from film to novels with specifications for slow readers or advanced gifted and talented learners. The broad scope of texts andRead MoreA Cyborg Manifesto Essay1789 Words   |  8 Pagesfeminism, soc ialism and materialism.†(p.149) Haraway develops her ironic myth by hypothesising with the idea of cyborg. What is cyborg? Haraway intellectualises cyborg as, â€Å"A cyborg is a cybernetic organism, a hybrid of machine and organism, a creature of social reality as well as a creature of fiction.†(p.149). Based on this we can say that a cyborg is a creature of social reality as well as a creature of fiction in this postmodern society. Cyborg is a fact of fiction and identity thus a lived experienceRead MoreSigmund Freud and Alfred Adler1426 Words   |  6 Pagesthe same city and were educated at the same university, they had decidedly different views regarding personality theories (Schultz, 1990, p. 120). Freud and Adler were both colleagues in the psychoanalytic movement that Freud started. However, because of personality differences and vastly contrasting views about personality theories (Mosak Maniacci, 1999, p.6) Adler left to begin his own faction, which he calle d Individual Psychology. It is my intention to briefly describe the main areas of theirRead MoreA Curriculum Analysis Of The Glencoe Mcgraw Hill Texas Treasure Literature Curriculum Essay1664 Words   |  7 PagesA Curriculum Analysis of the Glencoe McGraw-Hill Texas Treasure Literature Curriculum The Texas Treasure Literature Curriculum is published by Glencoe McGraw-Hill, and based on the information provided from their website and textbooks, I discovered the authorship team includes senior program consultants, program consultants, special consultants, Glencoe’s National Reading and Language Arts Advisory Council, and a Texas Advisory Board. Most of these members hold Ph.D.’s in fields such as Reading

Should the Alcoholic Drinking Age be Increased Essay

Why the Alcoholic Drinking Age Should Be Decreased? The general idea behind the raising of alcoholic drinking age is that it protects young people who are still incapable of accepting responsibilities, from the abuse of alcohol. It is, however, very doubtful whether it performs this function. The matter is, the more something is prohibited, the more appealing it looks for those who are prohibited to do it. A person who would have been drinking from time to time, if he were allowed to, will be drinking immoderately and in secret if he is forbidden to do it, for the simple reason of it being cool. Moreover, with the minimum alcohol drinking age being 21 years, the situation looks especially ridiculous. At 18 people are considered to be mature enough to take responsibilities, get married, vote, sign contracts and be persecuted by law if they break it; but officially they still are not allowed to drink until they turn 21. It would be naive to suppose that restriction laws like this can protect somebody from something. Young people may be prevented from drinking in bars, but who will stop them from drinking in all kinds of places and situations when drinks become available? If a person doesn’t treat alcohol as something overly exciting, mysterious and unattainable, he will most likely treat it as just yet another aspect of life, which is capable of being fun but nothing more. If he is prohibited from drinking it is more than probable that he will plunge into drinking once he is allowed to. And yes, doesn’t history teach us anything? The Prohibition in the early 20th century was supposed to eliminate alcohol abuse altogether; instead, government enforcement brought what it usually brings: great waste of money, emergence of great crime families without lowering the quantity of consumed alcohol at all.

“One-Degree-More” At 99°C, water is hot, very hot! At...

â€Å"One-Degree-More† At 99 °C, water is hot, very hot! At 100 °C water initiates to boil and changes to steam. Steam is potent enough to transport a trainload of folks. Think about it, just one degree more and hot water becomes powerful enough to move a locomotive. Whenever I have felt I`ve done my bit or felt like giving up, I have pushed myself for just one more degree and the difference is magical. This, I believe is one of the greatest reasons for my success till date. I am Vikas V Patil, Co-Founder of a Supply Chain Analytics firm Lytkraft LLP, and have a Bachelor’s degree in Engineering with a major in Industrial Engineering Management. I herewith enclose my application for admission to the Master of Science in Business Analytics and†¦show more content†¦Before Brickwork, I had precisely identified my strengths and interests in Business Analytics during my Bachelor’s degree, where I had performed exceptionally well, in the following courses – Mathematics (Calculus), Statistics, Simulation Modeling and Analysis, Management and Entrepreneurship, Supply Chain Management, Total Quality Management, Operations Research and Management. 3. Lytkraft and I During my stay at Brickwork, a longtime associate and I were brainstorming with the idea of building a world-class Supply Chain Analytics firm. Thus, we went on to found Lytkraft LLP towards the end of 2012. At Lytkraft, we are committed to provide analytical solutions that aim to improve operational efficiency and effectiveness by enabling data-driven decisions at tactical, strategic and operational levels. Through my Master’s degree, I want to focus on Business Analytics to help me gain skills that are directly applicable in the business environment that my company operates in. 4. My Master’s degree plans I want to specialize in Business Analytics, an interest that took shape during my Bachelor’s degree days, and has been honed at Brickwork and Lytkraft. I want to take classes and perform research work in Predictive Modeling, Business Intelligence, Risk Management, and Object Oriented Programming. Indeed, I want to get appropriate Business Operations focus into Supply Chain Management which will help me gain multiple perspectives. I also plan toShow MoreRelatedBio 101 Essay24965 Words   |  100 PagesDo  not  use  any  part  of  the  lab  kit  as  a  container  for  food.   ï‚ ·Ã¯â‚¬   Safely  dispose  of  chemicals.  Ã‚  If  there  are  any  special  requirements  for  disposal,  it  will   be  noted  in  the  lab  manual.   ï‚ ·Ã¯â‚¬   When  finished,  wash  hands  and  lab  equipment  thoroughly  with  soap  and  water.  Ã‚  Ã‚      Above  all,  USE  COMMON  SENSE!   6      Approximate  Time  and  Additional  Materials  Needed  for  Each  Lab   **  Note:  If  you  are  allergic  to  latex,  please  contact  us  and  we  will  send  you  vinyl  gloves**  Ã‚  Ã‚   Introduction:               Read MoreEngineering Fundamentals of the Internal Combustion Engine59558 Words   |  239 Pagesthat are experienced at an ever-increasing rate. As the outline for this text evolved over the past few years, continuous changes were required as new developments occurred. Those advancements, which are covered in this book, include Miller cycle, lean burn engines, two-stroke cycle automobile engines, variable valve timing, and thermal storage. Advancements and technological changes will continue to occur, and periodic updating of this text will be required. Information in this book represents an accumulationRead MoreEod Team Leader Certs Essay41737 Words   |  167 PagesRender Safe Procedures and Techniques 093-89D-1237 Perform Electromagnetic Radiation Shielding Procedures 3-74 093-89D-1238 Perform EOD Procedures Using Special Explosive Charges 3-75 093-89D-1366 Perform EOD Procedures using Explosive Driven Water Based Tools 3-76 Subject Area 7: EOD Team Assistant Incident Responsibilities / Procedures 093-89D-1120 Recognize Confined Spaces 3-77 Skill Level 3 Subject Area 8: Supervise Operation of EOD Tools and Equipment 093-89D-3186 Plan SMUD OperationsRead MoreIgbo Dictionary129408 Words   |  518 Pageswithout alteration into a Word processor, originally an Apple-based system. This was transferred to an IBM system quite recently, but without any conversion of the character codes. It seems that two different systems of coding diacritics were used and more than two IPA phonetic fonts. Furthermore, for some reason, the typing of the grammar sketch which precedes the manuscript is incomplete. In order to make the manuscript available, I have therefore joined together the fragments of the electronic manuscriptRead MoreSocm Study Guide Essay30404 Words   |  122 PagesChapter 1 ELO’s Describe the basic functions of living organisms. A. Responsiveness – organisms respond to changes in their immediate environment (long term changes is adaptability) B. Growth – over a lifetime, organisms grow larger through an increase in size or number of cells. Differentiation is when cells have specialized functions C. Reproduction – Organisms reproduce, creating subsequent generations of similar organisms D. Movement – Organisms are capable of movement Read MoreProject Mgmt296381 Words   |  1186 Pagesactivities 9.1.2. Responsibility matrixes 10.1 Communication planning (.2.3.4) [App. G-4] Chapter 12 Outsourcing 12.1.1 Procurement requirements [G.8] 12.1.2.3 Contract types 9.4.2.3 Conflict management 12.2.7 The art of negotiating 12.2.3.5 Change requests Chapter 13 Monitoring Progress Chapter 5 Estimating Times and Costs 6.4 Activity duration estimates (.3) 6.4.2 Estimating tools (.1.3.4) 6.3.1 Identifying resources 7.1 Activity cost estimates (.2.3.4.5) 5.1.2.4 Delphi method Read MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 Pages or transmission in any form or by any means, electronic, mechanical, photocopying, recording, or likewise. To obtain permission(s) to use material from this work, please submit a written request to Pearson Education, Inc., Permissions Department, One Lake Street, Upper Saddle River, New Jersey 07458, or you may fax your request to 201-236-3290. Many of the designations by manufacturers and sellers to distinguish their products are claimed as trademarks. Where those designations appear in this bookRead MoreStrategic Marketing Management337596 Words   |  1351 Pagesobjectives The nature of marketing The management process Strategic decisions and the nature of strategy The marketing/ strategy interface Summary xi xiii 1 3 3 7 11 19 37 41 43 45 45 50 53 70 71 75 77 79 79 80 81 86 88 89 101 102 104 107 109 Stage One: Where are we now? Strategic and marketing analysis 2 Marketing auditing and the analysis of capability 2.1 2.2 2.3 2.4 2.5 2.6 2.7 Learning objectives Introduction Reviewing marketing effectiveness The role of SWOT analysis Competitive advantage andRead MoreBhopal Gas Disaster84210 Words   |  337 PagesCarbide India Limited (UCIL s) pesticide plant in Bhopal. The gas leak triggered a disaster that is now widely recognized as the world worst industrial catastrophe. Thousands of people were killed instantly and more than 25,000 people have died of gas-related illnesses, several thousands more maimed for life since. Union Carbide negotiated a settlement with the Indian Government in 1989 for $470 million - a total of only $370 to $533 per victim - a sum too small to pay for most medical bills. In 1996Read MoreAccounting Information System Chapter 1137115 Words   |  549 Pagesuseful information listed in Table 1-1 be met simultaneously? Or does achieving one mean sacrificing another? Several of the criteria in Table 1.1 can be met simultaneously. For example, more timely information is also likely to be more relevant. Verifiable information is likely to be more reliable. However, achieving one objective may require sacrificing another. For example, ensuring that information is more complete may reduce its timeliness. Similarly, increased verifiability and reliability

Essay on John Trumbull, Thomas Jefferson, and Horace Mann

Introduction The 1800s to 1820s, America was still in its growing phase; it had gained independence only 25 years prior and was already becoming a great nation filled with proud, hard working men. Arts, architecture, business, and books were all a large part of society. Eighty percent of the population was farmers and the import of slaves to America was banned. Thomas Jefferson and James Madison had each been elected as President, in a government that was beginning to build a nation. â€Å"During this decade we were once again at war with England, in the War of 1812† (Sutton, 2008). Colleges were for the privileged, â€Å"The cost of education at Harvard was $300 a year† (Sutton, 2008). Slavery was still ramped in America and women had no†¦show more content†¦Ã¢â‚¬Å"As the silent member of the Congress, Jefferson, at 33, drafted the Declaration of Independence† (Freidel, 2006). Jefferson believed in the Constitution and as Senator of the state of Virginia , abided by it. The words of The Declaration of Independence written by Jefferson remain part of the verbiage today, We hold these truths to be self-evident, that all men are created equal, that they are endowed by their Creator with certain unalienable Rights; that among these are Life, Liberty, and the pursuit of Happiness (Biography.com, 2014). Jefferson continued his political career. He â€Å"succeeded Benjamin Franklin as minister to France in 1785† (Freidel, 2006). He traveled to France for five years, where he learned to appreciate the French culture, though he was considered to be uncultured. â€Å"Jefferson gradually assumed leadership of the Republicans, who sympathized with the revolutionary cause in France† (Freidel, 2006). This caused a rift between the Republicans and the Democrats. â€Å"As a reluctant candidate for President in 1796, Jefferson came within three votes of election† (Freidel, 2006). According to the Constitution, this made Jefferso n the Vice President. In 1800, Thomas Jefferson and Aaron Burr tied in the running for President but the House of Representatives voted Jefferson in, witch made Burr his Vice

Southwest airlines free essay sample

Analyzing Southwest Airlines’ organizations harmony is very challenging. Using the Mckinsey 7S Framework will make this process easier. The Mckinsey 7S Framework is made up of hard elements and soft elements. The hard elements consist of strategy, structure, and systems. These are elements in the organization that can not be changed easily. The soft elements consist of shared values, skills, style, and staff. These are elements that can be changed easily. The strategy of Southwest is very unique. Southwest strategy focuses on provided their service with the lowest prices in their industry. They have a ten-minute turnaround policy which allows flights to board and leave very quickly. Southwest deals with competitive pressure by focusing on a greater competitor, the automobile. This focus keeps Southwest ahead of the other airlines. Changes in customer demand were softened by the unique staff that Southwest had. Customer service took the place of meals that would be served on short flights. We will write a custom essay sample on Southwest airlines or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Southwest has a functional structure with three levels of management. Decision making is decentralized at Southwest. This decentralized decision making is good for the organic cultural of Southwest. Southwest strives to keep its employees involved with decisions. The main system that keeps Southwest going is it’s Human Resources system. This system ensures that the culture of the organization remains strong. This is important because it is one of the factors that keep customers returning to Southwest for all their flight. The HR department makes sure that the people it hires are willing to have fun while on the flight as well as crack a few jokes from time to time. There are some strong shared values within Southwest Airlines. Southwest’s values include quality, reliability, action, informal communication and feedback. All of these values contribute to the customer service orientation of their organization. Southwest has a very unique style that it as set for itself. Decisions at Southwest are made collectively. Employees seem to be more cooperative than competitive. Southwest is a family oriented organization that enforces its culture to the customers using its employees. There are nominal groups formed within the company. The employees get together voluntarily in order to do community service projects. The Southwest staff is like a family. Many of Southwest’s staff is classified as couples. This helps Southwest effectively promote its family oriented culture. Selected staff needs to be fun and outgoing. The strongest skills that are represented by the Southwest employees are customer service skills. Southwest prides itself on giving the customer a great flight experience. Their staff, as stated previously, is fun and family oriented. Judging by the 7S framework model, Southwest Airlines should not take on the extra flight it would get from LaGuardia. The extra flight will compromise the ten-minute turnaround that Southwest has praised itself on. This will negatively affects its customer service effectiveness which is the driving factor of Southwest’s culture and values. Southwest airlines free essay sample Analyzing Southwest Airlines organizations harmony is very challenging. Using the Mckinsey 7S Framework will make this process easier. The Mckinsey 7S Framework is made up of hard elements and soft elements. The hard elements consist of strategy, structure, and systems. These are elements in the organization that can not be changed easily. The soft elements consist of shared values, skills, style, and staff. These are elements that can be changed easily. The strategy of Southwest is very nique. Southwest strategy focuses on provided their service with the lowest prices in their industry. They have a ten-minute turnaround policy which allows flights to board and leave very quickly. Southwest deals with competitive pressure by focusing on a greater competitor, the automobile. This focus keeps Southwest ahead of the other airlines. Changes in customer demand were softened by the unique staff that Southwest had. Customer service took the place of meals that would be served on short flights. We will write a custom essay sample on Southwest airlines or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Southwest has a functional structure with three levels of management. Decision making is decentralized at Southwest. This decentralized decision making is good for the organic cultural of Southwest. Southwest strives to keep its employees involved with decisions. The main system that keeps Southwest going is its Human Resources system. This system ensures that the culture of the organization remains strong. This is important because it is one of the factors that keep customers returning to Southwest for all their flight. The HR department makes sure that the people it hires are willing to have fun while on the flight as well as crack a few Jokes from time to time. There are some strong shared values within Southwest Airlines. Southwests values include quality, reliability, action, informal communication and feedback. All of these values contribute to the customer service orientation of their organization. Southwest has a very unique style that it as set for itself. Decisions at Southwest are made collectively. Employees seem to be more cooperative than competitive. Southwest is a family oriented organization that enforces its culture to the customers using its employees. There are nominal groups formed within the company. The employees get together voluntarily in order to do community service projects. The Southwest staff is like a family. Many of Southwests staff is classified as couples. This helps Southwest effectively promote its family oriented culture. Selected staff needs to be fun and outgoing. The strongest skills that are represented by the Southwest employees are customer service skills. Southwest prides itself on giving the customer a great flight experience. Their staff, as stated previously, is fun and family oriented. Judging by the 7S framework model, Southwest Airlines should not take on the extra flight it would get from LaGuardia. The extra flight will compromise the ten-minute turnaround that Southwest has praised itself on. This will negatively affects its customer service effectiveness which is the driving factor of Southwests culture and values. southwest airlines. Southwest Airlines free essay sample In what ways might airline customers be segmented? Airline customers might be segmented when groups with varying needs and wants are recognized. They can be segmented on a number of different types of things; such as age, gender, location, buying behavior, and demographics. a. Which segments or niches would you consider Southwest’s prime targets? Southwest’s prime targets would be that of business and leisure travelers. Business travelers are less price sensitive than leisure travelers. They often travel on much shorter notice than leisure travelers. With the price of fuel rising companies have been urging their employees to reduce air fares and this factor attracted a lot of them to Southwest. Leisure travelers have always shopped around for reasonable prices. The fact that discount rates were offered and the whole family could go on a well planned trip was a plus to the leisure traveler. b. Which segments probably would not be? Long-hauls with high-fares. We will write a custom essay sample on Southwest Airlines or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page They don’t provide additional amenities such as ordering special meals and drinks. 2. Discuss the pros and cons for expansion of Southwest beyond short hauls. Which arguments do you see as most compelling? PROS include: †¢Southwest may want to embark upon flying international. †¢ They can eliminate nonproductive flights to focus on long haul flights. †¢They can instill a Rapid Rewards frequent flyer program for out of the country flights. †¢With the price of fuel rapidly rising, passengers want to be carried wherever they need to go. †¢Newer planes that are fuel efficient might need to be purchased. CONS include: †¢The purchase of newer planes can be costly Small shift in the population or consumer tastes can greatly affect business. †¢May have trouble expanding into new markets (especially up-market). †¢Air fares may have to go up. 3. Evaluate the effectiveness of Southwest’s unions. Due to Kelleher’s hard work and determination, by 1974, he established a great relationship between management and labor with a unio n being present (Hartley, 2006). It also appears that with the stock incentives and the shares rising, that Southwest continue’s to be a rapidly growing firm, (Hartley, 2006). 4. On August 18, 1993, a fare war erupted. To initiate its new service between Cleveland and Baltimore, Southwest announced a $49 fare (a sizeable reduction from the then-standard rate of $300). Its rivals, Continental and US Air, retaliated. Before long, the price was $19, not much more than the tank of gas it would take to drive between the two cities-and the airlines also supplied a free soft drink. Evaluate he implications of such a price war for three airlines. Due to the fact that Southwest was smart in their operation they were able to outwit their rivals. They were able to take the business of their opponents and offering them fares at a valued price. The big airlines could not afford to keep up with the legal battles as they were already losing money from not enough passenger capacity. 5. A price cut is the most easily matched marketing strategy and usually provides no lasting advantage to any competitor. Identify the circumstances when you see it desirable to initiate a price cut and potential price war. I think that I would initiate a price war when I see that competition needs to be phased out. There are always new competitors offering some new amenity, but the war on fares will always come about. It may be a certain season or a certain venue, but there will always be a need for the fare wars. 6. Do you think it is likely that Southwest will remain dominant in its niche despite the array of discount carriers? Why or why not? I think that they can remain dominant until their hedging contract is up. I believe that this will be the time when the economy will dictate what will be thrown on the table. That means that Southwest might have to buckle down and maybe get financed for a change. Until now they have been using their profits to fund the cost of fuel to keep them going strong. I don’t think that this may prove wise in 2012. Southwest Airlines free essay sample This proposal addresses the needed steps to be taken in order for Southwest Airlines to see continued growth in the airline industry. Southwest Airlines has been able to remain one of the most profitable airlines in the industry for an extended period of time. Even with the hindrance of the 2001 terrorist attacks involving airplanes and the U. S recession of 2008, Southwest has continued to see strong revenue growth. Meanwhile, other companies were experiencing major losses and in some cases folding. Southwest Airlines has capitalized on the company’s strength of being the top low cost carrier by offering a simple and efficient business plan that prides itself on customer service. Other carriers are now starting to take note of Southwest’s success and emulate many of their practices in an attempt to grab a share of their customer base. To overcome this competition, Southwest must continue to be unique and innovative in their business plans. We will write a custom essay sample on Southwest Airlines or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Introduction: A New Airline Power is Formed Southwest Airlines was created in 1971 by Rollin King and Herb Kelleher. Their thinking was that if they offered fares lower than any of the competition, with efficient service, the company was bound to succeed. Their thinking turned out to be on target, as Southwest has for decades been one of the most successful airlines in the country. What began as a small Texas airline has grown to become the fifth largest airline in the United States. Today, Southwest Airlines flies over 70 million passengers per year to more than 62 cities. Southwest orchestrates over 3,000 flights per day. The Southwest fleet consists of over 436 jets which have an average age of nine years old. Since the Department of Transportation began tracking Customer Satisfaction statistics in 1987, Southwest has consistently led the entire airline industry with the lowest ratio of complaints per passengers boarded. Customer satisfaction is one of the cornerstones at the foundation of Southwest’s success. CUSTOMER SATISFACTION Complaints per 100,000 customers boarded Source: http://www. southwestonereport. com/people Background: A Unique Business Model When being established, Southwest used a business model that differed quite a bit from ones seen at other successful airline companies around the country. When the airline launched, the fares were much lower than the competition. In fact, many fares were actually below the cost of driving a vehicle over the same route. Southwest’s policy of pricing its service was to compete with auto travel, something not even considered by other airlines at the time. While the fares have increased with inflation, they are still some of the best in the industry. Southwest has been able to keep its fares low and its service ratings high by implementing processes that are unlike those of its competitors. Trips are made more frequently by Southwest than the average airline, passengers are not assigned seats, only Boeing 737 jets are used in the Southwest fleet, un-congested or secondary airports are targeted in their routes, and tickets are primarily sold through the internet. Southwest’s frequent departures provided opportunity to frequent business flyers to catch a later flight if they missed one. They also didn’t assign seats to passengers. They issued colorful reusable plastic cards numbered 1 to 30. Passengers who came first could take the seat of their choice, thus providing an incentive to arrive early. This process of assigning seats eliminated the time-consuming reconciliation of the double assignment of seats on full flights and allowed Southwest agents to keep the plane doors open for last minute arrivals at the gate. The airline didn’t transfer baggage to connecting flights on other airlines and didn’t provide food in flight The process has proven to be very efficient, standardized and low-cost, allowing for quick turnaround and low fares. Customers are part of the process and taking their roles willingly. For distribution of tickets, initially commission was given to travel agents but later Southwest implemented a â€Å"ticketless† (paperless) travel program and later the development of Southwest. com as a means of using the internet to sell travel directly to customers. Southwest was a true pioneer in utilizing the internet, first establishing a website in 1995. This lowered distribution cost. Southwest has an average turnaround time of 25 minutes. This is quite lower than the industry average. For this success, the factors that were responsible were; an absence of meals on all Southwest flights, a limited amount of checked luggage on Southwest’s typically 60- to 90- minutes flights, a near-uniform configuration for all of its 737 aircraft, a team-oriented approach to ground services with team measures for turning around planes and freedom to do whatever necessary to get a plane pushed off on time with a high speed boarding process. Southwest has a great reputation of treating their passengers like family, often telling jokes and word games during the flights. Southwest also treats their employees very well, offering a wide range of perks and benefits. Southwest employees are routinely the highest paid in the industry. Average First Year Airline Pilot Salary Source: AirlinePilotCentral. com, an industry career page (Aug, 2011) Problem: Emerging Competition Recently, Southwest Airlines has seen the level of its competition increase. A decline in revenue and passenger traffic has accompanied this. Other airlines (some established, some upstarts) have started to lower their prices in order to compete directly with Southwest. This is somewhat of a testament to Southwest’s success, as many have decided to mimic their blueprint in an attempt to spawn similar success. Today there is far more low fare, low cost choices than there have been in years past. Legacy airline carriers are now offering â€Å"Southwest Style† no frills, low fare service. The past decade has seen the emergence of new upstart airlines such as JetBlue, AirTran Airways and Frontier Airlines. These airlines specialize in the low cost fares that have helped Southwest thrive. On top of similar pricing, these new competitors also boast the feature of having more amenities befitting a higher end airline. Deluxe leather seats, DirecTV offered in flight, assigned seating, extravagant drinks and carb conscious meals are just some of the feature these low cost competitors are offering their passengers. Also, while Southwest has a unique operations model that allows them to slash their turnaround times, there has been concerns about certain aspects of their service level. The most noticeably troublesome facet of their service issues is their struggles in baggage handling. While Southwest does boast about their â€Å"Bags Fly Free† policy, not charging passengers to check multiple bags, they have the second-worst rate of mishandled bags in the country according to a report in the Wall Street Journal. While speedy baggage loading and unloading is a key part of Southwest’s process to minimize turn time for their planes, it appears that they could be sacrificing efficiency for speed. Opportunities: Building on an Already Great Model While Southwest Airlines has made major strides in supplanting itself among the leaders in the airline industry, the threats are there for the competition to move in on Southwest’s market share. A consequence of Southwest’s success is the fact that competitors are looking at their operations model, refining it and implementing it themselves. Southwest must continue to evolve and adapt as a company in order to fend off these new challenges. The operational model Southwest has functioned under since its inception has proven to be a huge success for the company. Keeping operating costs and turn times low has given the company flexibility to do things that weren’t deemed feasible by traditional airline carriers. Offering low fares, frequent flights and rapid expansion are outcomes of the low operational costs. It does however; seem to be a point of transition for the company currently. Vast economic changes in the airline industry, brought about by the terrorists’ attacks of 2001 and the economic collapse of 2008 have forced traditional airlines to restructure their operational model. Seeing that the model Southwest utilized seemed to be working extremely well, many companies gravitated towards it. In today’s airline market, the Southwest model is no longer unique, and the gap has been narrowed. Southwest has long relied on expanding to secondary or smaller airlines. Their flights remain domestic. Perhaps the time has come for the airline to think bigger. Southwest does not fly to many of the busiest airports in the United States. While this is a calculated move done to help with expansion, it is potentially obstructing the company from gaining countless numbers of would-be customers. Another area for potential growth would be expanding to international flights. This could be a major boon for Southwest, as their operation model could be a huge hit in other countries. This would however be a major step for the company, and would require much research before it could be implemented. The issue mentioned earlier regarding a large number of mishandled bags is one of major concern for Southwest. A major part of their operations centers on customer satisfaction, and missing bags can definitely damage this. The bag problem may be a byproduct of Southwest’s focus on having extremely short turn times for their planes. Their fixation on getting the planes ready for the next flight as quickly as possible may in turn sacrifice efficiency when it comes to loading and unloading the planes. This area of the plane turning process should be analyzed and possibly refined, as it would appear to be the reason behind the high number of mishandled bags. More airlines are emerging with the combination of low air fares and attractive inflight amenities that many would not expect on an economy class flight. Southwest has historically offered frill free flights, giving passengers basic services and mainly focusing on creating a fun environment to engage their patrons. With competitors now offering more perks at similar price points, it is imperative for Southwest to ramp up on the inflight extras offered on their trips. At the beginning of the case, a flight by Southwest CEO Gary Kelly is documented. On this particular flight, a satellite based Wi-Fi Internet service is being tested out. It has since been put into implementation, and is currently available on nearly 75% of Southwest’s fleet of jets. In addition to this innovation, in June 2013 Southwest introduced a â€Å"TV Flies Free† offer. In the deal, Southwest has partnered with Dish network to offer customers 14 live TV channels and up to 75 on-demand shows. Passengers can view the content on their internet ready personal devices, such as smart phones and tablets. This is a noteworthy addition to Southwest’s inflight benefits, as two of their main competitors from a low fare price point perspective, JetBlue Airways and Virgin America, have offered free live TV for years, doing so on screens installed in the seatbacks of their jets. It is estimated that 90% of passengers now travel with personal devices, meaning the vast majority of people who fly Southwest have full access to free inflight TV. This also means that Southwest saves on installation costs that would accompany putting screens in seatbacks. This gives them a financial edge on their competition. Recommendation: Enhancement and Expansion The airline industry has evolved drastically over the past decade as the financial climate has changed. Companies are focusing on efficiency and passenger satisfaction, major pieces of Southwest’s success plan. With the industry evolving to mirror southwest, it appears that the time has come for Southwest to evolve itself in order to stay ahead of the curve. Southwest could see a decent revenue increase with an overhaul of their on-flight setup. Adding first class seating could make their airline more attractive to consumers who want a certain amount of luxury at a decent price point. The prices for first class tickets would be lower than that of a traditional airline, so that passengers are still getting the Southwest value that they are accustomed to. First class seating would be assigned, leather seats would be available and an extensive drink menu would be offered. Meals would still not be served in an effort to keep plane turn times down. Coach seating will remain the same, with first come first serve seating. Free WIFI and TV service will continue to be expanded, so that it will be available on 100% of Southwest flights. The baggage portion of Southwest’s turn process must be analyzed and overhauled. Missing bags is considered unacceptable to most travelers, and could account for a great deal of customer turnover. It is possible that changing the way baggage is loaded in and out of the planes could add to average turn times of planes, but sacrificing time for added efficiency is an even trade, especially when your turn times are well under the industry average already. With the larger airlines taking cues from Southwest’s success, the time has come for the airline to expand into larger airports. JFK in New York, Miami International, Dallas Fort Worth International, O’Hare in Chicago, and Logan International in Boston should be prime targets. While Southwest already has route to many of these cities in the lesser used terminals, having a presence in larger airports with more air traffic will increase visibility and potential customers. Flights should remain domestic for the immediate future, as adding international flights would be a massive undertaking given they don’t particularly fit into Southwest’s current operational model. Conclusion: Continuing the Climb Towards the Top Southwest Airlines is a company that was built on a strategy considered unique and risky at the time it was founded. It has seen itself grow from a tiny, regional company with 3 jets to one of the most recognizable brands in American air travel. As time has passed and the airline industry has evolved, Southwest now has an outstanding, low cost model that has worked successfully for the past 30 years; one that is custom fit for today’s changing economy. Competitors realize this, and in turn have mimicked Southwest’s model to grab business from them. Southwest must be proactive in adjusting to the ever changing climate of the air travel industry. Building on their already strong business model is imperative for continued success. Expanding service and upgrading the inflight experience are excellent opportunities for increased revenue. Southwest must not remain content and continue pushing forward on making their product the best airline experience possible.