Implement, monitor, and review a strategic plan - Free Essay Example

Sample details Pages: 6 Words: 1898 Downloads: 5 Date added: 2017/06/26 Category Business Essay Type Essay any type Did you like this example? Implement, monitor, and review a strategic plan Pre-Assessment Statements Student to complete: Student to initial I will record all my evidence in this student assessment guide. Special notes have been explained to me and I understand what is required to gain competency. I verify that this Student Assessment Guide represents all my own work. I understand the Instituteà ¢Ã¢â€š ¬Ã¢â€ž ¢s policies on academic misconduct (plagiarism). I understand how the appeals process works. Assessor to complete: Assessor to initial Health and safety considerations have been met. Any special needs of the student have been accommodated. Give details. The requirements of any special notes in this module have been met. Student signature Date discussed and signed 21st April 2015 Assessor signature Assessor number Task 1 1. Written Summary a. Describe the organisation INTRODUCTION Countdown is New Zealandà ¢Ã¢â€š ¬Ã¢â€ž ¢s leading supermarket brand, serving more than 2.5 million customers every week. It is found in 1981. In May 1981 the first count down market opened at Northlands mall in papanui at Christchurch. While weà ¢Ã¢â€š ¬Ã¢â€ž ¢re known as Countdown, we form part of Progressive Enterprises; Steve Donohue is Acting Managing Director of Progressive Enterprises and is also General Manager Merchandise. There are 164 countdowns across the New Zealand and supported by over 18,000 team members. Our business is all about great ideas, high energy and operating with total commitment. Count down also provides New Zealand wide services through online grocery shop. There are lots of customer service representative in the countdown. Their job is receive the customers and ser ve them with loyalty. The main products available in the store are grocery items, wine, beers, meat, seafood, stationary items, vegetables, fruits medicines, cosmetics, and all food items. b. The planned activities you will implement The strategic plan is to introduce coffee in the stores. Kiwi People love coffee. If we open coffee store in the countdown it will help to attract more customers. Countdown is supermarket giving excellence cheaper products c. How you have delegated the activities? (ER 1.1) First I talked with my manager Deepti about this plan. She told me u spoke with area manager. When the area manager came to my shop. I described him about this strategy plan. He satisfied and told I will do. Deepti did some investigation on this. She took some feedback from customers. She got positive response from the customers .It will take 4-5 weeks for implement the strategic plan. 2 What resources will you require? (ER 1.2) Resources Coffee is a brewe d drink equipped from heated coffee beans, which are the seeds of berries from the Coffee plant. The most commonly grown is Arabica. Don’t waste time! Our writers will create an original "Implement, monitor, and review a strategic plan" essay for you Create order The resources used in making coffee is milk, coffee beans, coffee powder, sugar etc. All these resources are available in coffee shop. Coffee machine is also needed. We need to buy the coffee machine. Its cost is around $1500. Trained staff is required It will take 3-4 weeks of time limit. All this resources cost of $2000 Approx. Strategy is firstly I talked to the manager or the other senior profile about opening a coffee shop in the store. They will think of the proposal and consult to other management. Take a customerà ¢Ã¢â€š ¬Ã¢â€ž ¢s feedbacks and execute the plan and arrange the place where to open a coffee shop and company required a trained staff. They also ordered a coffee machine. 3. Describe the goals, outcomes, use of resources and managing risks and How will you monitor the following Achievement of goals Achievement of outcomes Use of resources Risk management Other (specify) (ER 1.3 and 2.1) Achievement of goals If we introduce the coffee in the stores. This will help to attract more customers Sales and profit of our company will increase. Our goal is to get 10-15 new customers by introducing coffee in the stores. Our company achieved the goal Achievement of outcomes: There are some out comes It is logical fuel of the current world. It maintain the health safety of customers. Coffee makes active. It will also help for the employees to remove their work stress. It will also help for the organisation to increase their revenue It will help to attract more customers. Sales and profit of our company will increase. Use of resources Coffee is a brewed drink equipped from heated coffee beans, which are the seeds of berries from the Coffee plant. The most commonly grown is Arabica. The resources used in making coffee is milk, coffee beans, coffee powder, sugar etc. All these resources are available in coffee shop. Coffee machine is also needed. We need to buy the coffee machine. Its cost is around $1500. Trained staff is required It will take 3-4 weeks of time limit. All this resources cost of $2000 Approx. Strategy is firstly I talked to the manager or the other senior profile about opening a coffee shop in the store. They will think of the proposal and consult to other management. Take a customerà ¢Ã¢â€š ¬Ã¢â€ž ¢s feedbacks and execute the plan and arrange the place where to open a coffee shop and company required a trained staff. They also ordered a coffee machine. Risk management Coffee is served in variety of ways. Coffee is second worldwide drink. There are two types of hot and cold coffee. There are different types of coffee like espresso, Cappuccino, latte , mochacino, Caf au Lait a, Turkish coffee etc . We start introducing some coffees and I also went to many cafes for research which the people generally like. Then I discussed all the feedback with our manager. Everybody loves to drink coffee. The critical outcomes are the following: Due to new staff they are making coffee slowly and people have to wait for long time. They also not able to provide all the flavours of coffee. This will make customers unhappy 4. Resources those were deployed and optimised. (ER 1.4) Resources Coffee is a brewed drink equipped from heated coffee beans, which are the seeds of berries from the Coffee plant. The most commonly grown is Arabica. The resources used in making coffee are milk, coffee beans, coffee powder, sugar etc. All these resources are available in coffee shop. Coffee machine is also needed. We need to buy the coffee machine. Its cost is around $1500. Trained staff is required It will take 3-4 weeks of time limit. All this resources cost of $2000 Approx. Strategy is firstly I talked to the manager or the other senior profile about opening a coffee shop in the store. They will think of the proposal and consult to other management. Take a customerà ¢Ã¢â€š ¬Ã¢â€ž ¢s feedbacks and execute the plan and arrange the place where to open a coffee shop and company required a trained staff. They also ordered a coffee machine. 5. Describe the milestones and key indicators and which if necessary needed to be renegotiated according to organisational requirements? (ER 2.2) There are two types of hot and cold coffee. There are different types of coffee like espresso, Cappuccino, latte , mochacino, Caf au Lait a, Turkish coffee etc . We start introducing some coffees and I also went to many cafes for research which the people generally like. Then I discussed all the feedback with our manager. Our target to sold 200 cups. After one week I verified the sales. Our turn over is increasing. We actually reach our goal. Timescales Time scales: It took 4-5 weeks to apply the strategic plan: In first week: I discussed the strategic plan with manager after that they further discussed with the management In second week: They start taking feedback from the customers about opening the coffee shop In third week: They ordered all the equipmentà ¢Ã¢â€š ¬Ã¢â€ž ¢s that are used in making coffee like coffee machine, coffee beans, coffee powder etc In fourth week: They start training to their staff In fifth week: They start introduced the coffees according to the needs of the customers 6. Identify any needs for variations to the plan and recommendations for change are made according to organisational requirements? (ER 2.3) Kiwi people love coffee. They are happy with this plan. There are different types of coffee like espresso, Cappuccino, latte , mochacino, Caf au Lait a, Turkish coffee etc They need different flavours. But now we provide only some flavours. So we have to introduce some more flavours. To increase sales and profit of the company or to attract more customers company introduce some more flavours of coffee. The plan will be re-evaluate on a regular basis for changes and modification. 7. In your review evaluate the consistency and congruency of organisational performance with the organisationà ¢Ã¢â€š ¬Ã¢â€ž ¢s strategic plan. (ER 2.4) Evaluate the consistency and congruency of organisational performance with the organisationà ¢Ã¢â€š ¬Ã¢â€ž ¢s strategic plan: We are introducing coffee in our stores. Company took feedback from customers about the plan to opening coffee store in the stores and took feedback from online. We got positive reply from the customers that will help to increase the sales and profit of the company. Company estimate the sales review. The revenue of the company is increased. The company (Countdown) got profit from this plan. The customers are happy with this plan and there is no problem with this strategy. Kiwi people love coffee. It is daily need of the people. There is no loss only profit for the company . There is no need to change of plan only need to implement and evaluate the plan. Only thing is that to add more flavours of coffee according to the preference of customers to attract more customers. 3rd Party Verification Email Back (response) Deepti Hi Ritika You have developed a good quality planned for the strategic plan which will benefit for customers, employees and organization. You have selected most achievable strategic option for participants, the way you influenced the management was very nice and I have also took feedback from the customers about this and got confident response, this strategic plan absolutely give better presentation to the company. This strategic plan will help the organization to increase the profit and sales. You have done a good job. References https://www.countdown.co.nz/about-us/our-company https://smallbusiness.chron.com/steps-strategic-planning-4651.html https://en.wikipedia.org/wiki/Coffee:_A_Dark_History https://en.wikipedia.org/wiki/Coffee https://onstrategyhq.com/resources/strategic-implementation/ www.planware.org/strategicplan.htm https://en.wikipedia.org/wiki/List_of_coffee_varieties https://www.google.co.nz/search?q=strategic+plan+implementation+planbiw=1360bih=643tbm=ischtbo=usource=univsa=Xei=_65BVZHsFYX5mAWBjIDQDwved=0CCMQsAQ https://humanresources.about.com/od/humanresourcesstrategic/tp/human-resources-strategic-planning.htm Student Progress Report Student to complete Post-assessment statement Signature The assessment occurred as we had planned. I was treated fairly during the assessment. I understand the assessment outcome. The feedback I received met my needs. I verify that this Student Assessment Guide represents all my own work. Assessor to complete (A = Achieved à ¢Ã¢â€š ¬Ã¢â‚¬Å" N = Not Achieved) Assessment Assessor name Assessme nt decision Date Re- assessment date Re- assessment decision Task 1 Questions A/N A/N Detail any work that is required for re-assessment for the student to become competent in this unit standard. 1st attempt Date 2nd attempt Date 3rd attempt Date A/N A/N A/N The student has completed this Student Assessment Guide competently. The work is their own and shows a level of understanding that is appropriate for the learning outcomes. Assessor name: Dene Collison Signature Date 21st April2015 Please retain a copy of this Student Assessment Guide for one year for moderation purposes. Ritika [email  protected]/* */Page 1

Essay on A Tale of Two Cities - Quotes Analysis - 869 Words

1.â€Å"It was the best of times†¦Ã¢â‚¬  Charles Darnay and Lucie Manette, in the wake of the French Revolution, blithely married in England. (Book II, Chapter 18) Their marriage forged the loving ties between the two, and brought children to their household. To them, to be able to live with their loved one and to be able to caress their children was the best. They were oblivious of the rousing wraths of the peasants in France, and the time to them could not have been better. 2.â€Å"It was the worst of times†¦Ã¢â‚¬  In Book II, Chapter 21, the Defarges and their supporters angrily stormed the Bastille and ruthlessly decapitated the governor of the prison. Although the breaching of the Bastille was not unwarranted, the inexorable murder of a man trying to†¦show more content†¦That is foolishness, for the revolutionaries, who desired to destroy oppression from the nobles, only replaced the old oppressors. 5.â€Å"It was the epoch of incredulity†¦Ã¢â‚¬  The nobles before the French Revolution thought that the peasant revolt was absolutely impossible. The Marquis Evremonde was equally apathetic to any signs of uprising (Book II, Chapter 9) and no other noble probably did until the storming of the Bastille. When the breaching finally did occur, the incredulity of the noblemen and clergy vanished, and they feared for their own safety. 6.â€Å"It was the season of Darkness†¦Ã¢â‚¬  The â€Å"Darkness† referred to in this quote is manifested by the shadow of darkness that Madame Defarge casts on Lucie Manette during her visit in Book III, Chapter 3. 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Summary of Chua free essay sample

To change the emphasis of mainstream accounting research from hypothetico-deductivism and technical control assumptions to alternative views and obtain a fundamentally different and potentially rich research insights. Aim 1. To enable accounting researchers to self-reflect on the dominant assumptions that they share and, more importantly, the consequence of adopting this position. a. Limited the types of problems studied b. The use of research methods c. The possible research insights that could be obtained Author believes that such limitations can only become clear when they are exposed to the challenge of alternative world-views 2. To introduce such alternative set of assumptions, illustrate how they change both problem definition and solution, and offer research which is fundamentally different from that currently prevailing. 3. To argue that, not only are these alternative world-views different, they can potentially enrich and extend our understanding of accounting. Authors intended audience Positivist researchers, Public, Professionals, academics, All researchers Arguments presented to support main point Recent classifications of accounting perspectives Cooper (19830 ad Hopper ad Powel (1985) rely on the sociological work of Burrell and Morgan (1979) * Classification of accounting literature: 1. We will write a custom essay sample on Summary of Chua or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page social sciences – includes assumptions about: * ontology of the social world (realism v. nominalism) * epistemology (positivism v. anti-positivism) * human nature (determinism v. voluntarism) * methodology (nomothetic v. ideographic) 2. society – characterizes it as orderly or subject to fundamental conflict Burell and Morgan (1979) Four paradigms used to classify accounting theories * Functionalist * Interpretive * Radical humanist Radical structuralist Problems persisted so accounting perspectives are differentiated with reference to underlying assumptions about knowledge, the empirical phenomena under study, and the relationship between theory and the practical world of human affairs. A classification of assumptions â€Å"knowledge is produced by people, for people, and is about people and their social and physical environment† Beliefs about knowledge Epistemological assumptions * Decide what to count about acceptable truth by specifying the criteria and proc ess of assessing truth claims * E. . an epistemological assumption might state that a theory is considered true if it is repeatedly not falsifiable by empirical events Methodological assumptions * Indicate that research methods deemed appropriate for the gathering of valid evidence. * E. g. large-scale sample surveys or laboratory experiments that are â€Å"statistically sound† may be considered acceptable research methods. Both sets of assumptions are closely related. What is a â€Å"correct† research method will depend on how truth is defined. Belief about physical and social reality Ontology Object of Study * People may be viewed as identical to physical objects and be studied in the same manner * Criticism: people cannot be treated as natural scientific objects because they are self-interpretive beings who create the structures around them (Habermas, (1978) and winch (1958)) How people relate to one another and society as a whole * Every social theory makes assumptions about the nature of human society-is it, for example full of conflict or essentially stable and orderly Relationship between theory and practice Questions Purpose of knowledge in the world of practice, How may it be employed to better people’s welfare * Theory may be related to practice in several ways, each representing a particular value position on the part of the scientist (Fay (1975)). Unlike Burell and Morgan, this set of assumptions is used to assess the strengths and weaknesses of alternative perspectives in accounting. This is not an attempt to describe world-views in a value-free, non-evaluatory language

Master Circular on ‘Know Your Customer’ (Kyc) Norms free essay sample

The best available evidence of | | |identity should be obtained, having regard to the circumstances of each customer and their country of origin. | | |Some forms of proof of identity are more reliable than others, and in some cases it will be prudent to carry out | | |more than one verification check. | | |Customer Due Diligence (CDD) : | |3. 3 |The customer due diligence may be defined as any measure undertaken by a financial institution to collect and | | |verify information and positively establish the identity of a customer. | |There are 3 types of CDD that can be used in accordance with the risk category of the customer. | | |Basic Due Diligence : | | |Basic Due Diligence means collection and verification of identity proof, address proof and photograph to | |3. 3. 1 |establish the identity of the customer. This is based on documents and forms the basis of the KYC programme of | | |the bank. A different set of documents can be listed for different type of customers as seen in par a 3. We will write a custom essay sample on Master Circular on ‘Know Your Customer’ (Kyc) Norms or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page 1. 3. 4 of| | |this circular. | |Simplified Due Diligence : | | |The due diligence applied to establish the identity of the customer involving measures less stringent than Basic | | |Due Diligence, can be termed as Simplified Due Diligence. As per the Reserve Bank of India guidelines, | | |Simplified Due Diligence can be applied to Accounts of people belonging to low income group both in urban and | | |rural areas to enable ‘Financial Inclusion’ to this segment. (e. g. No Frill Accounts in our Bank). | |3. 3. | | | | | | | | | | | | | | | | | | | | | | | | | | 3. 4NO FRILL ACCOUNTS : Although flexibility in the requirements of documents of identity and proof of address has been provided in the circular mentioned above, yet it has been brought to notice that a large number of persons, especially, those belonging to low income group both in urban and rural areas are not able to produce such documents to satisfy the bank about their identity and address. This would lead to their inability to access the banking services and result in their financial exclusion. Accordingly, it has been decided to further simplify the KYC procedure for opening accounts for those persons who intend to keep balances not exceeding rupees fifty thousand (Rs. 50,000/-) in all their accounts taken together and the total credit in all the accounts taken together is not expected to exceed rupees one lac (Rs. 1,00,000/-) in a year. In case a person desirous of opening an account is not able to produce the documents as mentioned above, branches may open accounts, subject to – a) Introduction from another account holder who has been subject to full KYC procedure. The introducer’s account with the bank should be at least six months old and should show satisfactory transactions. Photograph of the customer who proposes to open the account and also his address needs to be certified by the introducer. Or b) Any other evidence as to the identity and address of the customer to the satisfaction of the bank. c) Initial Deposit: Account can be opened with initial deposit of Rs. 50. 00. d) Minimum Balance: Minimum balance of Rs. 50. 00 to be maintained. However, no incidental/service charges are to be recovered even in case the balance in the account falls below Rs. 50. 00. e) While opening accounts as described above, the customer should be made aware that if at any point of time, the balances in all his/her accounts with the bank(taken together) exceeds Rupees Fifty thousand (Rs. 0,000/-) or total credit in the account exceeds Rupees One lac (Rs. 1,00,000/-) in a year, no further transactions will be permitted until the full KYC procedure is completed. In order not to inconvenience the customer, the bank must notify the customer when the balance reaches Rupees Fort y thousand (Rs. 40,000/-) or the total credit in a year reaches Rupees Eighty Thousand (Rs. 80,000/-) that appropriate documents for conducting the KYC must be submitted otherwise the operations in the account will be stopped when the total balance in all the accounts taken together exceeds Rupees Fifty thousand (Rs. 50,000/-) or the total credit in the accounts exceeds Rupees one lac (Rs. 1,00,000/-) in a year. ) The accounts shall also be treated at par with the accounts opened in terms of RBI Circular DBOD No. AML BC. 23/14. 01. 064/2005-06 dated 2. 8. 2005 (applicable to Branches in Maharashtra State). However, the maximum balance in such accounts may be permitted as the amount of grant received from the Government or Rupees Fifty Thousand (Rs. 50,000/-) whichever is more and the initial credit of the grant amount shall not be counted towards the total credit. 3. 4. 1Issuance of Cheque Book : Clause No. 6 : One cheque book per annum containing 10 leaves will be issued free of ch arge at the request of the depositor. Additional Cheque Book at the request will be issued at a charge of Rs. 0/- per Cheque Book containing 10 leaves. 3. 4. 2ATM Card : ATM Card is not to be allowed. 3. 4. 3Nomination : Branches will ensure that in all accounts nomination is obtained invariably. 3. 4. 4Transactions in the account : There is no restriction as to the number of deposits in the account. However, total number of withdrawals allowed per year (free of charge) shall be restricted to 50. 3. 4. 5Transfer to normal HSS account : At the request of the customer, after meeting normal KYC requirements, the account will be eligible for migration to normal HSS accounts instead of continuing to remain under this category. 3. 4. 6Execution of undertaking : At the time of opening of account itself, the customer would also execute an undertaking as per â€Å"Annexure A†, wherein he/she undertakes to keep balances not exceeding Rs. 50,000/- in all his/her accounts taken together with the Bank and that total credit in all such accounts taken together would not exceed Rs. 1,00,000/- in a year. The applicant would also undertake that if at any point of time, the balances in all his accounts with the Bank taken together exceeds Rs. 50,000/- or total credit in all the accounts exceeds Rs. 1,00,000/- in a year, then Bank shall be within its rights to stop further transactions in the accounts until full KYC procedure is completed by him/her. Details of his/her other accounts, if any, with our Bank shall also be obtained along with this undertaking. 3. 3. 3Enhanced Due Diligence (EDD) : Additional diligence measures undertaken over and above the Basic Due Diligence can be termed as Enhanced Due Diligence. EDD would be required to be undertaken as per Reserve Bank of India guidelines for the higher risk customers of the Bank. (For e. g. NRI, foreign Nationals, PEP, Non face to face customer, Pooled account, Specific type of business, Customers who live in High risk countries, Trust Accounts, Correspondent Banking). Specific types of relationships where EDD may be required to be applied: 3. 3. 3. 1Client accounts opened by professional intermediaries. When the bank has knowledge or reason to believe that the client account opened by a professional intermediary is on behalf of a single client, that client must be identified. Banks may hold pooled accounts managed by professional intermediaries on behalf of entities like mutual funds, pension funds or other types of funds. Banks also maintain pooled accounts managed by lawyers/chartered accountants or stockbrokers for funds held on deposit or in escrow for a range of clients. Where funds held by the intermediaries are not co-mingled at the bank and there are sub-accounts, each of them attributable to a beneficial owner, all the beneficial owners must be identified. Where such funds are co-mingled at the bank, the bank should still look through to the beneficial owners. Where the Bank relies on the customer due diligence (CDD) done by an intermediary, the Bank should satisfy itself that the intermediary is regulated and supervised and has adequate systems in place to comply with the KYC requirements. It should be understood that the ultimate responsibility for knowing the customer lies with the bank. Further, if the professional intermediaries like Chartered Accountant or lawyer etc are unable to disclose the true identity of the owner of the account / funds due to any professional obligation of customer confidentiality, branches should not open or hold accounts of professional intermediaries on behalf of a client. Further, because of such obligation on the part of the professional intermediary, branches are unable to know and verify the true identity of the client on whose behalf account is held or beneficial ownership and / or understand the true nature and purpose of transactions, then branches should not open an account, on behalf of a client, by professional intermediary. 3. 3. 3. 2Accounts of Politically Exposed Persons (PEPs) resident outside India Politically exposed persons are individuals who are or have been entrusted with prominent public functions in a foreign country, e. g. , Heads of States or of Governments, senior politicians, senior government/judicial/military officers, senior executives of state-owned corporations, important political party officials, etc. Sufficient information on any person / customer of this category intending to establish a relationship should be gathered and all the information available on the public domain should be checked. Branches should verify the identity of the person and seek information about the sources of funds before accepting the PEP as a customer. The Competent Authority only is authorised to take a decision whether to open an account of a PEP. In the event of an existing customer or the beneficial owner of an existing account, subsequently becoming a PEP, the approval of the competent authority should be obtained for continuance or otherwise of the business relationships. Also, such accounts should be subjected to enhanced monitoring. These norms/rules are also applicable, when the PEP is the ultimate beneficial owner and to the accounts of family members or close relatives of PEPs and or where the PEP is the ultimate beneficial owner. Further, such accounts should be subjected to enhanced monitoring on an ongoing basis. 3. 3. 3. 3Accounts of non-face-to-face customers . With the introduction of telephone and electronic banking, increasingly accounts are being opened by banks for customers without the need for the customer to visit the bank branch. In the case of non-face-to-face customers, apart from applying the usual customer identification procedures, there must be specific and adequate procedures to mitigate the higher risk involved. Certification of all the documents presented should be insisted upon and, if necessary, additional documents may be called for. In such cases, banks may also require the first payment to be effected through the customers account with another bank which, in turn, adheres to similar KYC standards. In the case of cross-border customers, there is the additional difficulty of matching the customer with the documentation and the bank may have to rely on third party certification/introduction. In such cases, it must be ensured that the third party is a regulated and supervised entity and has adequate KYC systems in place. 3. 3. 3. 4Correspondent Banking Correspondent banking is the provision of banking services by one bank (the â€Å"correspondent bank†) to another bank (the â€Å"respondent bank†). These services may include cash/funds management, international wire transfers, drawing arrangements for demand drafts and mail transfers, payable-through-accounts, cheques clearing etc. Banks should gather sufficient information to understand fully the nature of the business of the correspondent/respondent bank. Information on the other bank’s management, major business activities, level of AML/CFT compliance, purpose of opening the account, identity of any third party entities that will use the correspondent banking services, and regulatory/supervisory framework in the correspondents/respondent’s country may be of special relevance. Similarly, Banks should try to ascertain from publicly available information whether the other bank has been subject to any money laundering or terrorist financing investigation or regulatory action. While it is desirable that such relationships should be established only with the approval of the Board, in case the Boards of some banks wish to delegate the power to an administrative authority, they may delegate the power to a committee headed by the Chairman/CEO of the bank while laying down clear parameters for approving such relationships. Proposals approved by the Committee should invariably be put up to the Board at its next meeting for post facto approval. The responsibilities of each bank with whom correspondent banking relationship is established should be clearly documented. In the case of payable-through-accounts, the correspondent bank should be satisfied that the respondent bank has verified the identity of the customers having direct access to the accounts and is undertaking ongoing due diligence on them. The correspondent bank should also ensure that the respondent bank is able to provide the relevant customer identification data immediately on request. 3. 3. 3. 5Nonresident Indians (NRIs)/Foreign Nationals Indian customers resident overseas and foreign nationals based in India pose a bigger risk from money laundering perspective then ones placed domestically. 3. 3. 3. 6Fiduciary Accounts Bank may exercise enhanced due diligence at the time of opening fiduciary accounts by intermediaries such as guardians of estates executors, administrators, assignees, receivers etc. For e. g. while opening of the account of an administrator of the estate, it may be necessary to examine the Letter of Administration(Authority) as it would give a picture of the assets of the estate. 3. 4Correspondent relationship with a â€Å"Shell Bank† 3. 4. 1Banks should refuse to enter into a correspondent relationship with a â€Å"shell bank† (i. e. a bank which is incorporated in a country where it has no physical presence and is unaffiliated to any regulated financial group). Shell banks are not permitted to operate in India. Further, before establishing correspondent relationship with any foreign institution, appropriate measures should be taken by the Bank to satisfy themselves that the foreign respondent institution does not permit its accounts to be used by Shell Banks. 3. 4. 2Banks should be extremely cautious while continuing relationships with respondent banks located in countries with poor KYC standards and countries identified as non-cooperative in the fight against money laundering and terrorist financing. Banks should ensure that their respondent banks have anti money laundering policies and procedures in place and apply enhanced due diligence procedures for transactions carried out through the correspondent accounts. Branches are advised to refer to International Division, Central Office, for clarification / guidance in the matter. 3. 4. Applicability to branches and subsidiaries outside India The guidelines contained in this master circular shall apply to the branches and majority owned subsi diaries located abroad, especially, in countries which do not or insufficiently apply the FATF Recommendations, to the extent local laws permit. When local applicable laws and regulations prohibit implementation of these guidelines, the same should be brought to the notice of Reserve Bank. In case there is a variance in KYC/AML standards prescribed by the Reserve Bank and the host country regulators, branches/overseas subsidiaries of banks are required to adopt the more stringent regulation of the two. |3. |INTRODUCTION OF ACCOUNTS : | |3. 5. 1 |WHAT IS INTRODUCTION: | | |Obtaining of introduction should not be a mere formality to get protection under Section 131 of the Negotiable | | |Instruments Act, but necessarily to enable proper identification of the person opening the account, as the Banker has | | |to render a number of Banking Services, including collection of cheques in the ordinary course of business. It is | | |therefore essential that the Banker gets to know the true identity of the customer, is aware of the credentials of the | | |prospective customer such as his address, profession/business etc, before establishing a business relationship. | |3. 5. 2 |WHO CAN INTRODUCE AN ACCOUNT? | | | | |3. 5. 2. 1 |An existing account holder of repute and standing, whose account is satisfactorily and actively conducted for a period | | |not less than six months. | |3. 5. 2. 2 |Any respectable person, in the locality, who is well known to the Bank. | | | | |3. 5. 2. |Branch Manager/Deputy Manager or any official of the branch or of other branches of the bank provided they have | | |sufficient knowledge about the identity of the person introduced. When officials of the bank introduce accounts, | | |they should be extremely careful and vigilant. They should make detailed enquiries and satisfy themselves about | | |the identity of the person, his/ her address, his/her profession / occupation, e tc. over and above the customers| | |integrity and bonafides. | |3. 5. 2. 4 |No other staff member should be allowed to introduce an account except with the concurrence of the Branch | | |Manager/Deputy Manager. | |3. . 3 |WHAT IS A PROPER INTRODUCTION? | |3. 5. 3. 1 |It is necessary that the person introducing the applicant to the Banker, must be a respectable person. He / she | | |should also be known to the Banker. | |3. 5. 3. 2 |The introducer should know the intending customer. | |3. 5. 3. 3 |The introducer should sign on bank’s form in token of his/ her verifying the identity of the applicant. Oral | | |introduction of a person desirous to open an account with the bank would not constitute a proper introduction. | |3. 5. 4 |WHAT ARE THE LIABILITIES OF THE INTRODUCER? |3. 5. 4. 1 |While introduction is not a guarantee of the account holders transactions with the Bank by the introducer, the | | |introducer should be in a position to identify/trace the account holder in ca se of need. Therefore, the | | |customers should be advised that they should not introduce any account unless they know the identity of the | | |prospective customer. A notice to this effect may be prominently displayed in the branch. | |3. 5. 5 |PROCEDURE FOR INTRODUCTION : | |3. 5. 5. |FORMALITIES FOR INTRODUCTION AND OPENING OF ACCOUNT | |3. 5. 5. 2 |To verify the residential address given by the prospective customer, banks generally ask for copies of passport, | | |driving license, identity card issued by any institution, copy of electricity or telephone bill, copy of any | | |communication issued by Central/State Government authorities showing residential address or any other evidence in| | |support of the address given in the account opening form. | |3. 5. 5. 3 |Introducer should normally visit the branch for introduction. Discreet enquiries, such as since when and how | | |he/she knows the prospective customer should be made. The introducer should also be advised of his/her/their | | |responsibilities as an introducer. | |3. 5. 5. 4 |A letter of thanks to the introducer, also requesting him/her for his/her confirmation of the introduction be | | |invariably sent by registered post. Further, a letter of thanks should also be sent to the customer by UPC, at | | |the address mentioned in the account opening form. | |3. 5. 5. 5 |The introducer must sign in the place Introduced by provided in the account opening form. | | | | |Following certificate is normally obtained from the introducer: | | | | | |I certify that I know Mr. /Mrs. /Miss __________________ since last _________ months/years and confirm | | |his/her/their occupation and address stated in this application to open the account. | |3. 5. 5. 6 |The introducer must also mention his/her/their type of account (HSS/Current Deposit) and the account nu mber. The| | |signature of the account holder should tally with the specimen signature on record with the Bank. | |3. 5. 5. 7 |Introducers signature in the column introduced by should be verified by the departmental head. The branch | | |official should satisfy himself/ herself beyond doubt as to the genuineness of the signatures and record it under| | |his/ her specimen signature and signature number, as a token of having verified the signature/s. | |3. 5. 5. 8 |In case of introduction of an account by the Manager/Official of ‘another branch’, the confirmation thereof | | |should be sought immediately from the ‘other’ branch and the ‘Manager/Official’ of ‘other’ branch is expected to | | |respond immediately. In case an account is introduced by the â€Å"Manager/Official† of ‘another’ branch, the | | |Manager/Official of the ‘other’ branch should put their ‘signature index number’ beneath their signature/s. | |3. 5. 5. |In cases where an account is introduced by a ‘customer’ of ‘another branch’, the account opening branch should | | |not allow any operations in the account, till such time the signature of the ‘customer’ ‘of the other branch’ is | | |duly verified/certified by the ‘other’ branch. The verifying official of the ‘other’ branch should append his/her| | |signature index number. | |3. 5. 5. 10 |Verification of the residential address provided by the customer is of great importance. While considering loan | | |products, verification is usually done through a visit. However, this is not possible in all the cases of | | |opening of accounts. As such, this may be achieved by mailing a welcome kit containing cheque book, rules and | | |regulations, pamphlets on various products etc. f the Bank, at the address provided by the customer. | |3. 5. 5. 11 |The branches may also contact the customer at the telephone number provided in the account documentation to | | |verify the customer details. When such verification is made, it should be noted in the records and the name, | | |signature, signature index number of the verifying official should be appended thereto. | |3. 5. 5. 12 |While opening accounts of corporate bodies, firms, trusts etc. branches should obtain documentary evidence | | |regarding existence of the entity, powers of the authorized persons to operate the account etc. | |3. 5. 5. 3 |An interview with the prospective customer is recommended, while opening an account, as the interview would help | | |in knowing the customer and preparing the profile. | |3. 5. 5. 14 |When a new branch is opened, it may not be possible to get introduction by existing account holders. Banks | | |generally canvass for accounts of VIPs in the area and key persons in nearby offices and business establishments | | |whose introduction would be available. | |4. ANTI MONEY LAUNDERING STANDARDS | | | | |4. |MONEY LAUNDERING : | | | | | |As per the Prevention of Money Laundering Act (PMLA) 2002, the offence of Money Laundering is defined as : | | | | | |Whoever directly or indirectly attempts to i ndulge or knowingly assists or knowingly is a party or is actually | | |involved in any process or activity connected with the proceeds of a crime and projecting the same as a | | |untainted property – shall be guilty of offence of Money Laundering. Money Laundering is the process by which | | |the criminals attempt to hide and disguise the origin and ownership of the proceeds of their criminal activities | | |like drug trafficking, trafficking in women and children, murder, extortion, child pornography etc. ‘Proceeds of | | |crime’ means any property derived or obtained, either directly or indirectly by any person as a result of | | |criminal activities relating to a scheduled offence or the value of such property. Money Laundering, therefore, | | |besides being a Statutory or Regulatory requirement is also a moral responsibility for all the Bank Employees. | |4. 2 |TERRORIST FINANCING : | | | | | |Terrorists use similar methods for moving their funds. Some of the terrorist groups also indulge in criminal | | |activities for funding their acts. However, there are two major differences between Money Laundering and | | |Terrorist Financing. | | | | |Whereas in the case of Money Laundering, the source of money is always through criminal activities while | | |Terrorist Financing can be from legitimately obtained income. | | | | | |It is difficult to identify terrorist funding transactions as more often terrorist activities require small | | |amounts. | 4. 3WIRE TRANSFERS : Banks use wire transfers as an expeditious method for transferring funds between bank accounts. Wire transfers include transactions occurring within the national boundaries of a country or from one country to another. As wire transfers do not involve actual movement of currency, they are considered as a rapid and secure method for transferring value from one location to another. 4. 3. 1The salient features of a wire transfer transaction are as under: 1. a) Wire transfer is a transaction carried out on behalf of an originator person (both natural and legal) through a bank by electronic means with a view to making an amount of money available to a beneficiary person at a bank. The originator and the beneficiary may be the same person. 2. ) Cross-border transfer means any wire transfer where the originator and the beneficiary bank or financial institutions are located in different countries. It may include any chain of wire transfers that has at least one cross-border element. 1. c) Domestic wire transfer means any wire transfer where the originator and receiver are located in the same country. It may also include a chain of wire transfers that takes place entirely within the borders of a single country even though the system used to effect the wire transfer may be located in another country. 2. d) The originator is the account holder, or where there is no account, the person (natural or legal) that places the order with the bank to perform the wire transfer. 4. 3. Wire transfer is an instantaneous and most preferred route for transfer of funds across the globe and hence, there is a need for preventing terrorists and other criminals from having unfettered access to wire transfers for moving their funds and for detecting any misuse when it occurs. This can be achieved if basic information on the originator of wire transfers is immediately available to appropriate law enforcement and/or prosecutorial authorities in order to assist them in detecting, investigating, prosecuting terrorists or other criminals and tracing their assets. The information can be used b y Financial Intelligence Unit India (FIU-IND) for analysing suspicious or unusual activity and disseminating it as necessary. The originator information can also be put to use by the beneficiary bank to facilitate identification and reporting of suspicious transactions to FIU-IND. Owing to the potential terrorist financing threat posed by small wire transfers, the objective is to be in a position to trace all wire transfers with minimum threshold limits. Accordingly, branches must ensure that all wire transfers are accompanied by the following information: ( A ) CROSS BORDER WIRE TRANSFERS. 1. i) All cross-border wire transfers must be accompanied by accurate and meaningful originator information. 2. ii) Information accompanying cross-border wire transfers must contain the name and address of the originator and where an account exists, the number of that account. In the absence of an account, a unique reference number, as prevalent in the country concerned, must be included. 1. iii) Where several individual transfers from a single originator are bundled in a batch file for transmission to beneficiaries in another country, they may be exempted from including full originator information, provided they include the originator’s account number or unique reference number as at (ii) above. ( B ) DOMESTIC WIRE TRANSFERS 1. i) Information accompanying all domestic wire transfers of Rs. 50000/- (Rupees Fifty Thousand) and above must include complete originator information i. e. name, address and account number etc. , unless full originator information can be made available to the beneficiary bank by other means. 2. i) If a branch has reason to believe that a customer is intentionally structuring wire transfer to below Rs. 50000/- (Rupees Fifty Thousand) to several beneficiaries in order to avoid reporting or monitoring, the branch must insist on complete customer identification before effecting the transfer. In case of non-cooperation from the customer, efforts should be made to establish his identity and Suspicious Transaction Report (STR) should be sent to Nodal Officer / Principal Officer for onward submission to FIU-IND. iii) When a credit or debit card is used to effect money transfer, necessary information as (i) above should be included in the message. 1. 4. 3. 3 EXEMPTIONS Interbank transfers and settlements where both the originator and beneficiary are banks or financial institutions would be exempted from the above requirements. 4. 3. 4Role of Ordering, Intermediary and Beneficiary banks : a) Ordering Bank An ordering bank is the one that originates a wire transfer as per the order placed by its customer. If the branch is an ordering bank, it must ensure that qualifying wire transfers contain complete originator information. The branch must also verify and preserve the information at least for a period of ten years. (b) Intermediary bank For both cross-border and domestic wire transfers, a bank processing an intermediary element of a chain of wire transfers must ensure that all originator information accompanying a wire transfer is retained with the transfer. Where technical limitations prevent full originator information accompanying a cross-border wire transfer from remaining with a related domestic wire transfer, a record must be kept at least for ten years (as required under Prevention of Money Laundering Act, 2002) by the receiving intermediary bank, of all the information received from the ordering bank. If the branch is an intermediary Bank, it must be ensured that all the records as aforesaid are preserved for a period of ten years. For further details, please refer to para 6. 14 â€Å"PRESERVATION OF RECORDS† of this circular. ( c) Beneficiary bank A beneficiary bank should have effective risk-based procedures in place to identify wire transfers lacking complete originator information. The lack of complete originator information may be considered as a factor in assessing whether a wire transfer or related transactions are suspicious and whether they should be reported to the Financial Intelligence Unit-India. The beneficiary bank should also take up the matter with the ordering bank if a transaction is not accompanied by detailed information of the fund remitter. If the ordering bank fails to furnish information on the remitter, the beneficiary bank should consider restricting or even terminating its business relationship with the ordering bank. |5 |MONITORING OF TRANSACTIONS : | |5. 1 |To obviate the scope for frauds and prevent Money Laundering, regular monitoring and supervision of accounts is | | |essential. Monitoring customer activity and transactions throughout the relationship helps the Banks to know their | | |customers, assess risk and provides greater assurance that the Bank is not being used for the purposes of financial | | |crime. However, the extent of monitoring will depend on the non-sensitivity of the account. Very high account turnover | | |inconsistent with the size of the balance maintained may indicate that funds are being ‘washed’ through the account. | | |Special attention should be paid to the complex, unusually large transactions and all unusual patterns which have no | | |apparent economic or lawful purpose. | |5. |MONITORING OF CASH TRANSACTIONS : | | | | | |Branches should closely monitor cash deposits and withdrawals of Rs. 10 lacs and above or its equivalent in foreign | | |currency. | | |All series of cash transactions integrally connected to each other which have been valued below Rupees Ten Lacs or its | | |equivalent in foreign currency where s uch series of transactions have taken place within a month and the aggregate | | |value of such transactions exceeds Rupees Ten Lacs. | |All cash transactions where forged or counterfeit currency notes or bank notes have been used as genuine and where any | | |forgery of a valuable security or a document has taken place facilitating the transaction and | | |All suspicious transactions whether or not made in cash and by way of as mentioned in the rules. | | | | |5. 3 |The methods of monitoring may be broadly classified as follows : | | | | |5. 3. |Observation : The staff at the branches may at the time of processing the transaction or otherwise, come across | | |certain transactions not in line with the profile of the customer. Certain behaviour displayed by the customer during | | |their interaction with such customer may also lead to suspicion. The branch staff should exercise caution and report | | |such instances to the principal officers/his representatives so that additional du e diligence may be done on the same. | | |A list of behavioural indicators that should trigger suspicion is mentioned hereunder : | |5. 3. |CUSTOMER BEHAVIOUR INDICATORS : | | | | | |Customers who are reluctant in providing normal information while opening an account, providing minimal or fictitious | | |information or when applying to open an account, providing information that is difficult or expensive for the | | |institution to verify. | | | | | |Customers expressing unusual curiosity about a secrecy of information involved in the transaction. | | | | | Customers who decline to provide information that in normal circumstances would make the customer eligible for banking | | |services. | | | | | |Customers giving confusing details about a transaction. | | | | | |Customers reluctant or refusing to state the purpose of a particular large/complex transaction/source of funds involved| | |or provides a questionable purpose and / or source. | | | | | |Customers who use separate tellers to conduct cash transaction or foreign exchange transactions. | | | | |Customers who deposit cash / withdrawals by means of numerous deposit slips/cheque leaves so that the total of each | | |deposit is unremarkable, but the total of all credits / debits is significant. | | | | | |Customer’s representatives avoiding contact with the branch. | | | | | |Customers who repay the problem loans unexpectedly. | | | | | |Customers who appear to have accounts with several institutions within the same locality without any apparent logical | | |reason. | | | | | | | |Customers seek to change or cancel a transaction after the customer is informed of currency transaction reporting / | | |information verification or record keeping requirements relevant to the transaction. | | | | | |Customer regularly issues large value cheques without balance and then deposits cash. | | | | | | | |5. 3. |Analysis of Exception Reports : There is a system of generation of the exception reports at the branc hes, to examine | | |accounts, based on certain parameters/threshold limits. Branches should exercise suitable due diligence on these | | |accounts and accounts concluded to be suspicious be reported in STR to the Nodal Officer for onward reporting to the | | |Principal Officer. | | | | |5. 3. 4 |The technological advancements have facilitated on line transfer of funds and real time settlement between the | | |Banks across the globe. This has helped money launderers to adopt innovative means and move funds faster across | | |continents making detection and preventive action much more difficult. This calls for a dynamic approach in tracking | | |the crime. The staff members must be vigilant in the fight against money laundering and must not allow the bank to be | | |used for money laundering activities. The Bank should not become a party to violation of law. As such, preventing | | |money laundering activities is the duty and responsibility of the bank staff. An illustrative checklist on preventing | | |money-laundering activities, is given hereunder : | |5. |CHECK LIST FOR PREVENTING MONEY-LAUNDERING ACTIVITIES | | |A customer maintains multiple accounts, transfers money among the accounts and uses one account as a master account | | |from which wire/funds transfer originates or into which wire/funds transfer are received (a customer deposits funds in | | |several accounts, usually in amounts below a specified th reshold and the funds are then consolidated into one master | | |account and wired outside the country. ) | | |A customer regularly depositing or withdrawing large amounts by a wire transfer to, from, or through countries that are| | |known sources of narcotics or where Bank secrecy laws facilitate laundering of money. | |A customer sends and receives wire transfers (from financial haven countries) particularly if there is no apparent | | |business reason for such transfers and is not consistent with the customers business or history. | | |A customer receiving many small incoming wire transfer of funds or deposits of cheques and money orders, then orders | | |large outgoing wire transfers to another city or country. | | |A customer experiences increased wire activity when previously there has been no regular wire activity. | | |Loan proceeds unexpectedly are wired or mailed to an offshore Bank or third party. | |A business customer uses or evidences of sudden increase in wired trans fer to send and receive large amounts of money, | | |internationally and/or domestically and such transfers are not consistent with the customers history. | | | | | |Deposits of currency or monetary instruments into the account of a domestic trade or business, which in turn are | | |quickly wire transferred abroad or moved among other accounts for no particular business purpose. | | |Sending or receiving frequent or large volumes of wire transfers to and from offshore institutions. | | | | |Instructing the Bank to transfer funds abroad and to expect an equal incoming wire transfer from other sources. | | | | | |Wiring cash or proceeds of a cash deposit to another country without changing the form of the currency. | | | | | |Receiving wire transfers and immediately purchasing monetary instruments prepared for payment to a third party. | | | | |Periodic wire transfers from a person’s account/s to Bank haven countries. | | | | | |A customer pays for a large (international or dom estic) wire transfers using multiple monetary instruments drawn on | | |several financial institutions. | | | | | |A customer or a non-customer receives incoming or makes outgoing wire transfers involving currency amounts just below a| | |specified threshold, or that involves numerous Bank or Travelers cheques. | | | | |A customer or a non-customer receives incoming wire transfers from the Bank to ‘Pay upon proper identification’ or to | | |convert the funds to bankers’ cheques and mail them to the customer or non-customer, when | | | | | |The amount is very large (say over Rs. 10 lacs) | | |The amount is just under a specified threshold (Rs. 0 lacs) | | |The funds come from a foreign country or | | |Such transactions occur repeatedly. | | | | | |A customer or a non customer arranges large wire transfers out of the country which are paid for by multiple Banker’s | | |cheques (just under a specified threshold) | | | | | |A non-customer sends numerous wire t ransfers using currency amounts just below a specified threshold limit. | | | | | | | | | | | | | | | | | | |5. 5 |To effectively monitor the cash transactions of Rs. 10 lacs and above (or its equivalent in foreign currency) | | |branches should maintain a separate register to record details of individual cash deposits and withdrawals of Rs. | | |10 lacs and above. The details recorded in the register should include:- | | | | | |Type of account/account no. | |Title of account/Name of the account holder | | |Date of opening the account | | |Date of Transaction | | |Nature of the transaction | | |Amount of Deposit/withdrawal ( currency in which it was denominated) | | |Identity of the person undertaking the transaction | | |Name of the beneficiary of the cheque (in case of withdrawal) | | |Destination of the funds and the form of instruction/authority. | |5. 6 |Cash deposits or withdrawals of Rs. 0 lacs and above should be reported by the Branch Manager to the controlling | | |office on a monthly basis, incorporating the above particulars. | |5. 7 |Whenever the depositor/borrower is depositing/withdrawing cash for Rs. 10 lacs and above, which is inconsistent | | |with the normal and expected activity of the customer, the information gathered from/revealed by the client, may | | |be recorded in the Register and reported in the statement. | |5. 8 |Regional Office, on receipt of these statements from the Branches should immediately scrutinize the details | | |thereof. In case any of the transactions prima-facie appears to be dubious or give rise to suspicion, such | | |transactions should be looked into by deputing officials from the Regional Office. If any of the transactions is| | |found to be of suspicious nature, it should be immediately informed to Zonal Manager/General Manager Central | | |Audit Inspection Department, Central Office. | |6 |Combating Financing of Terrorism | | | | |6. |As and when list of individuals and entities approved by Security Council Committee established pursuant to | | |various United Nations’ Security Council Resolutions (UNSCRs) are received from Government of India / Reserve | | |Bank of India, the same are circulated to all the offices with instructions to ensure the consolidated list of | | |individuals and entities as circulated by Reserve Bank of India is updated. The updated list of such | | |individuals/entities can be accessed in the United Nations’ website at | | |http://www. un. org/sc/com mittees/1267/consolist. shtml. Branches are advised that before opening any new account it| | |should be ensured that the name/s of the proposed customer does not appear in the list. Further, branches should | | |scan all existing accounts to ensure that no account is held by or linked to any of the entities or individuals | | |included in the list. Full details of accounts bearing resemblance with any of the individuals/entities in the | | |list should immediately be intimated to Nodal Officer / Principal Officer for onward submission to Reserve Bank | | |of India / FIU-IND. | |6. 2 |In terms of PMLA Rules, suspicious transaction should include inter alia transactions which give rise to a | | |reasonable ground of suspicion that these may involve financing of the activities relating to terrorism. Banks | | |are, therefore, advised to develop suitable mechanism through appropriate policy framework for enhanced | | |monitoring of accounts suspected of having terrorist links and swift identification of the transactions and | | |making suitable reports to the Financial Intelligence Unit – India (FIU-IND) on priority. | |6. 3 |Reserve Bank of India has advised vide their circular dated March 26, 2010 that as per the communication received| | |from the Financial Action Task Force (FATF), the strategic AML / CFT deficient jurisdiction are divided into 3 | | |groups as under : | |6. 3. |Jurisdictions subject to FATF call on its members and other jurisdictions to apply counter measures to protect | | |the international financial system from the ongoing and substantial money laundering and terrorist financing | | |(ML/FT) risks emanating from the jurisdiction : Iran | |6. 3. 2 |Jurisdictions with strategic AML/CFT deficiencies that have not committed to an action plan developed with the | | |FATF to address key deficiencies as of February 2010. The FATF calls on its members to consider the risks | | |arising from the deficiencies associated with each jurisdiction.

American Economy essays

American Economy essays The American economy has been in a recession since March, which is troublesome. The recession was declared by the National Bureau of Economic Research, and there is pessimism as well as optimism regarding this national issue. The gloomy idea is that a recovery will not occur soon. The positive view is that revitalization in the economy will transpire promptly, yet this observation is disproven by a Federal Reserve study shows that in twelve Reserve districts the slowdowns outweigh recovery. A definite answer to predict the outcome does not exist, but there are factors of GDP, which can be observed to calculate what may happen in the American economy. These range from government spending, private investment expenditures, consumer expenditures, and net exports. Consumer spending is dropping rapidly over twenty percent yearly. During a economic boom in the 1990s, consumer expenditures reached over 1.4 trillion dollars, and is presently declining more rapidly in the National Association of Purchasing Managers price index. Technology sector purchases have deteriorated at forty percent, and low-technology acquisitions have dropped with equal misfortune. Factorial productivity has decreased for the longest phase since the 1930s. As a result, business profits have sunk up to 52 percent in the second quarter, and this is the largest drop in over two decades. Since businesses are suffering, workers are experiencing fewer benefits from Consumers work fewer hours, collect diminutive bonuses, and endure lower salaries as a result of corporate, financial weakness. The menacing fear of losing jobs prevents consumers is the largest factor which dictates end users financial activities. As companies continue to shutdown facilities and reduce the number of employees, the less the consumer is willing to spend. Unemployment rates are increasing, and will peak seven percent in the near future. Another factor ...

Free Essays on E-Bay

Competitive Analysis of eBay eBay eBay is the world’s online market place. Founded in 1995, eBay is the leading online market place for the sale of goods and services by a diverse community of individuals and businesses. Today, the eBay community includes 49.7 million registered users, and is the most popular shopping site on the Internet when measured by total user minutes according to Media Metrix. The eBay Market eBay enables trade on a local, national and international basis. It features a variety of international sites, specialty sites, categories, and services that aim to provide users with the necessary tools for efficient online trading in the auction-style and fixed price formats. In 2000, the eBay community transacted more than $5 billion in annualized gross merchandise sales (value of goods traded on the eBay site). On any given day, there are millions of items listed on eBay across thousands of categories. People come to eBay to buy and sell all kinds of practical, unique, and interesting items. Rivalry In 2001, there were over 2500 auction sites on the Internet. Some of these sites include: Amazon.com Auctions, Yahoo! Auctions, MSN Auctions, AOL Auctions, Excite Auctions, and UBid. Each of these sites has their pros and cons. eBay’s closest competition exists with UBid, Amazon, and Yahoo!. Neither company, however, has a customer base as large as eBay’s. Using the Internet to attract buyers and sellers from all over the world has allowed eBay to remain competitive. eBay is still 100 times larger as Amazon and 10 times as large as Yahoo! Both of the sites have grown large enough to make the list of the ten largest auction sites on the Internet, but in the meantime eBay’s size has more than doubled (with a continued growth rate of 12% per month). The two big newcomers (Yahoo! and Amazon) have a lot of similarities to eBay: similar categories of goods, similar fixed-length English auc... Free Essays on E-Bay Free Essays on E-Bay Competitive Analysis of eBay eBay eBay is the world’s online market place. Founded in 1995, eBay is the leading online market place for the sale of goods and services by a diverse community of individuals and businesses. Today, the eBay community includes 49.7 million registered users, and is the most popular shopping site on the Internet when measured by total user minutes according to Media Metrix. The eBay Market eBay enables trade on a local, national and international basis. It features a variety of international sites, specialty sites, categories, and services that aim to provide users with the necessary tools for efficient online trading in the auction-style and fixed price formats. In 2000, the eBay community transacted more than $5 billion in annualized gross merchandise sales (value of goods traded on the eBay site). On any given day, there are millions of items listed on eBay across thousands of categories. People come to eBay to buy and sell all kinds of practical, unique, and interesting items. Rivalry In 2001, there were over 2500 auction sites on the Internet. Some of these sites include: Amazon.com Auctions, Yahoo! Auctions, MSN Auctions, AOL Auctions, Excite Auctions, and UBid. Each of these sites has their pros and cons. eBay’s closest competition exists with UBid, Amazon, and Yahoo!. Neither company, however, has a customer base as large as eBay’s. Using the Internet to attract buyers and sellers from all over the world has allowed eBay to remain competitive. eBay is still 100 times larger as Amazon and 10 times as large as Yahoo! Both of the sites have grown large enough to make the list of the ten largest auction sites on the Internet, but in the meantime eBay’s size has more than doubled (with a continued growth rate of 12% per month). The two big newcomers (Yahoo! and Amazon) have a lot of similarities to eBay: similar categories of goods, similar fixed-length English auc...

Compare the Industrial Age with the Era of Modernism Essay

Compare the Industrial Age with the Era of Modernism - Essay Example During that era, revolution begun by the mechanization of the textile industry and the iron-making techniques that were developed that increased the use of refined coal (Shamkhal 2011). The revolution was also characterized by the introduction of steam power that was primarily fuelled by coal. There was also the introduction of canals, improved railways and roads that also played a part in expanding trade. During this period, however, things were done in a more primitive and backward way, when compared to the modern era. The modern era is also characterized by a number of revolutions and innovations that are majorly seen in the way people do things that are more mechanized and computerized than the industrial era (Nagla 2010). The modern era brought about the invention of faster-operating computers that have propelled so many other innovative activities come up that completely bring the whole world a global village. During the modern era, people use machines operated by nuclear and electricity power. Trade has been made easy by the roads that have been tarmacked, electric trains and aircrafts that enable goods to be ferried from one country to another within hours. Therefore, the two era were marked by revolutions; however, the modern revolution is characterized with more innovation, faster ways of doing things as well as advanced technology. On the other hand, the industrial revolution was also characterized with lots of inventions and improvement of technology even though the technology used then was backward and could not do much. A lot of changes have been realized since the revolution era. To begin with, in the communications sector, during the industrial revolution, people used to pass information through the use of the word of mouth. Then the use of sending letters came up which could take several days, weeks or even months before being

Employing Strategy in a Competitive Environment Research Paper

Employing Strategy in a Competitive Environment - Research Paper Example These factors include income, education, geographic location, and age. Technological changes, which are arising might or might not support the activities of our business as well. This will be the supreme important trend, which could affect the ability of the company to stay competitive within the market. As the company provides the customers with quality information materials, which will permit them to sell to the end user clients more ably at a lesser charge, the company has to be aware of the datum that fresh technologies are emerging every day (Stigler 2008). The company must ensure that the products are continually updated to meet the clients’ needs. The company has to be aware of these emerging changes, as they occur to continue to anticipating the customers’ needs, and tackle them afore they essentially request it. This is how the company can capitalize on these changes in technology, by ensuring the clients have available information resources at all time to meet their end user consumer needs. The company can achieve this by constantly researching fresh and innovative technologies, as they emerge hence staying ahead of clients' requirements. New entrants to the market can also present a threat to the company. If the company is successful in attaining market share as well as being lucrative, this could draw new comers who may pull clients from the company. The company can combat this through being the low cost spearhead. Moreover, the company must keep on providing quality products, which the company’s clients trust. Establishing such reliability will be a basis in guaranteeing the company’s stand within the market (Wisma, 2012). To address the sustainable mobility’s challenges, while getting on a fresh stage of dynamic development and consolidating its presence within the international marketplace, the company can rely on its fundamental strengths. These strengths include knowhow of the inner operation of the informatio n industry; capacity to afford quality products, virtual firm can be easily be accessed online to generate a competitive benefit within the marketplace. The company can achieve this through effective communication with core clients. Increased sales do not necessarily mean increased returns; therefore, the company needs to evaluate the efficacy of the firm’s communications (Karakaya, 2005). This strategy will provide the company the understanding of the inner operation of the information sector to be cognizant of the clients’ needs. Furthermore, all staff must have some experience about book to fortify the company’s most crucial asset. Through keeping a close watch on changes in technology, the company will be capable of offering relevant products that the end users can benefit from them. Working online will make the company mobile and effortlessly accessed by either the company’s clients or their clienteles. This eases on the travel costs that would other wise be incurred if need for assistance or service arises (Wisma, 2012). Considering that the market share is minimal, I find that the company’s core competitor is the established publishers. The challenge is how the company can obtain and retain customers. The company has to create information materials, which clients can differentiate from those of the competitors’ products owing to their good quality. The company must employ proficient writers and

The Time Essay Example for Free

The Time Essay What is the most horrible of institutions that ever entered human lives? Anyone, by the perceived notion of institutions might start listing education, family, marriage, state, religion etc. But, if we think once, all these institutions have something in common. They are all time framed, time – bound, and submit us to conformity, which is again fitting itself into the framework of larger time that is life time. So, I would say, it is time that is the major institution that changed the face of our lives. Not only ours, but of course of the whole human society, be it in any part of the world. If you are someone like Plato, you would say, there is no such thing like time that is making life hard for us. Instead, it is the idea of time that is responsible for all the commotion. Well, I do agree with such people and say, â€Å"The Clock is the culprit†, and enquire how this dire consequence happened to us. Unfortunately, to track how this at all happened, we should still rely on time, gazing back at the past, so that our arguments would make some sense. By this, we could say that, time is eternal to our lives. It neither has a beginning nor ending. The entire creation moves on according to a time pattern. Time is one of those many necessary evils that happened to us. Tracing back to history, we don’t have any evidence to suggest when the word ‘time’ derived or established semantically, but the word ‘clock’ is derived from the Latin word ‘clocca’ which means ‘bell’ or French word ‘cloche’, which again means the same. We were introduced to clocks only in the 14th century. It is in this period that people were familiarized with devices like sun dial, clepsydra or water clocks etc. Mechanical, tower and quartz clocks, with gears, wheels and weights attached to them were invented somewhere around the medieval period (5th – 15th century) in Europe. Be it towards human development or mechanization, this invention is of course a giant leap in the history of mankind. But, these clocks had the facility of ticking only once in an hour, that is there were no minutes and seconds hands at that time. As a solution to this problem and avoid the accuracy and precision constraint of his experiments, Galileo, a physicist, observed the chandeliers in the church and tried to devise a similar device, but he failed to do so. Later, with the aid of Galileo’s works and further research to his credit, Huygens, a Dutch astronomer, devised the first successful pendulum clock. But, theseclocks too had a problem. They used to tick several times a second, making life even more miserable. Later, William Clement, an English clock maker devised pendulum clocks whose least measure was a second. These clocks were well appreciated and came to be known as â€Å"the grandfather’s clocks† in the history. The aftermath of this was known to be the period of scientific development where the pendulums were replaced by atomic vibrations. The clocks which we use today with seconds, minutes and hours hands are called the atomic clocks and were invented by Dr. L. Essen. Until 1840’s, the clocks we used consisted of external batteries. Meanwhile, people undertook research to avoid this problem of batteries losing life as they were exposed to harsh weather conditions which show their impact on this life – boosting device, battery. It was much later in 1906 that we started using internal batteries. The first portable time piece (such as time turner, wrist watch etc. ) ever was devised by a German, Peter Hele, the pioneer of human plethora and obviously the first one who deserves death penalty because without him, we would have left time at home and walked freely into the outer world, and would have lived peacefully. Coming to philosophy, renowned philosophers argue that time is a mental construct but nobody ever says how to get rid of it. Moreover, they propose alternative theories on time. Though these don’t solve the problem, they give us a ground to work on it, as it is believed that sticking with a problem for a longer time (time again! ) will give us possible scope to analyze it and would hopefully lead us to the solution. They provide us a pretty good set of facts such as time is one – dimensional, unidirectional, irreversible and hence precious, it is not cyclic but linear (as Stephen Hawking said), etc. There are also competing theories in philosophy which tries to present different perspectives, viewpoints regarding time. The Presentists argue that only the present is the only real thing. The Growing – block theorists argue that both present and past are real, but not future, that is I’m eating an ice cream and dinosaurs had once existed are real, but not certainly my death. Who knows? I might be that one mortal being on earth who doesn’t meet death. The Block – universe theorists or the Eternalists argue that the past, present and future are subjective and are mere mental constructs, just like time. But, as it is denying the tenet of time, and as it is deemed to be tense less, eternalism was considered illogical. We even have this distinctversion called there are different types of time namely, Public time (the time which runs on clocks), Biological time (the circadian rhythms which are regulated by sunlight and darkness), and the Psychological or the Phenomenological time (this is nothing different from public time and moreover, it is only how we use the public time). This psychological time is once again known to be a mental construct, subjective, and immeasurable. For example, psychological time passes when we are happy and drags when we are sad. The psychological time cannot be measured with any devise whereas the public time is a basic time that can be measured by the clock, which is devised for the very purpose. Psychological time helps us to understand human thought processes whereas the public time does not understand or analyze anything. It is merely a platform for the consequences that the psychological time should think of. Talking about the flow of time, there are two opposing theories namely the Myth – Flow theory and the Theory of Objective Reality. The former strengthens the rampant argument that the notion of time is a myth and it is our mental construct whereas the latter contradictorily tells us that time is mind – independent reality, which it clarifies by saying that though we die, time is eternal and it always exists in this universe, thus justifying its objective reality. It is certainly due to this concept of time flow that cognitive psychologists were also interested in the time. They were interested in knowing our experience of time flow and our ability to place events as per chronology. Neuroscientists, at a point of time, were also interested in time and suggested that your brain waits about 80 milliseconds for all the relevant input to come in before you experience a â€Å"now†. Neuroscientists and psychologists have investigated whether they can speed up our minds relative to physical time. If so, we might become mentally more productive, and get more high quality decision making done per fixed amount of physical time, and learn more per minute. Several avenues have been explored: using cocaine, amphetamines and other drugs, undergoing extreme experiences such as jumping backwards off a tall tower with bungee cords attached to one’s ankles, and trying different forms of meditation. So far, none of these avenues have led to success productivity-wise. Time is no doubt the central theme of modern life. Every single day, from dawn to dusk, we plan our day, or at least think of our day as per a time schedule. We get up inthe morning and enter into the inevitable business of time keeping and this burden becomes even more when we attach meaning to a whole jargon of words like once upon a time, past, present, future, yesterday, today, tomorrow, day after tomorrow, the next hour, within ten minutes, one second etc. I think it is because of fear of this time and the time constraint that we are taking our life so seriously, the whole world became so competitive in the pursuit of virtue and racing towards an unknown fortune, whose existence is still a matter of potential questionnaire. Human beings are so subjective that we cannot conduct a Meta – subjective analysis of their subjectivity. But, millions and billions of members of the human race are curbed off their creativity and were forced to fit into an artificial pitcher called the time – box, where, since centuries, people were supposed to do what they were expected to and that to within a fixed time – frame, and a lot of value is attached to time. At least once in life, let us take up this unique or peculiar experiment of putting this time outside human lives. Can we live at least a day without looking at our watch, mobile, or desktop without knowing what the time is? Can we lead our life succumbing just to gut feeling and nothing else? Time is said to be a free – force which does not wait for anyone. Then, why the hell do we bother about time, when it does not wait for us? Can’t we be little egoistic concentrating on self – emphasis rather than time – emphasis? This might sound a kind of utopian and something that never happens in this 21st century. If at all we still feel like attempting this, we must follow Rousseau, who just went off into the woods to lead his life calm and quiet, away from the hue and cry of the main – frame of society which is suffering from OCD (obsessive compulsive disorder) of time ticking lives. Despite the cons it has, time has pros too. As Ovid says, â€Å"Time is the best medicine. † It is known to heal the wounds which reason cannot. Time is a wise counselor which gives us a healing touch. It reminds us to act and of course act wisely. It is the sole controller of our emotion and experience. To conclude, time is all in the mind and so it is up to us, our mindset and attitude as of how to get on with it, and we must thank the Temporal Logic (time based logic that is responsible for the functioning of any language) for which we attribute our whole understanding of this issue, and of course the rather creepy World.

Law in Action Essay -- State Rights, Oregon

Along with the American right to live with certain inalienable freedoms, citizens of Oregon have had the opportunity to exercise their state-given â€Å"right to die† for the previous 17 years. In response to citizen initiative, the State of Oregon passed the Death With Dignity Act (DWDA) in 1994 to allow terminally ill patients the access to a lethal dose of doctor-prescribed medication. Oregon is one of only two U.S. states with â€Å"Death With Dignity† legislation, and it has vigorously protected this act from criticism and attempted legal invalidation for years (Office of Disease Prevention and Epidemiology, n.d.). Despite vehement opposition and regular ethical questioning, DWDA has successfully allowed hundreds of gravely ill Oregon citizens to safely control the circumstances of their death. With improvements to its system of collecting patient data, its mental health evaluation requirements, and its level of doctor accountability, the law could provide this ser vice in an even more efficient and responsible way. From its official enactment in 1997, DWDA has aimed to provide qualified, terminally ill Oregon patients the opportunity to end their lives through the use of a doctor-prescribed, self-administered, lethal prescription (The Oregon Death With Dignity Act, 1994). A patient wishing to receive the prescription must be 18 years of age, a resident of Oregon, mentally competent, and diagnosed with a fatal disease that will likely lead to death within six months, and the patient must pass through a multitude of safeguards. First, a patient must make two oral requests for the medication to his or her physician 15 days apart, followed by a signed written request. Then two separate doctors evaluate the individual’s cognitive capabilit... ... peace of mind for the family, and for the legal security of the doctor, patients should undergo supervision until the time of their death, not merely until the time they receive the prescription. This final addition to DWDA would greatly increase approval within the medical community for this exceedingly debated law. Through two legal attempts to invalidate the law and years of criticism from a wide range of adversaries, DWDA has managed to provide a valuable service to over 500 ailing Oregon patients. Legislators could avoid future legal challenges and improve the safety for participating individuals by enacting and enforcing a few powerful safeguards regarding doctor accountability and patients’ mental health. Regardless, DWDA sets an unparalleled precedent in the realm of assisted suicide, and other states should strive for similar revolutionary legislation. Law in Action Essay -- State Rights, Oregon Along with the American right to live with certain inalienable freedoms, citizens of Oregon have had the opportunity to exercise their state-given â€Å"right to die† for the previous 17 years. In response to citizen initiative, the State of Oregon passed the Death With Dignity Act (DWDA) in 1994 to allow terminally ill patients the access to a lethal dose of doctor-prescribed medication. Oregon is one of only two U.S. states with â€Å"Death With Dignity† legislation, and it has vigorously protected this act from criticism and attempted legal invalidation for years (Office of Disease Prevention and Epidemiology, n.d.). Despite vehement opposition and regular ethical questioning, DWDA has successfully allowed hundreds of gravely ill Oregon citizens to safely control the circumstances of their death. With improvements to its system of collecting patient data, its mental health evaluation requirements, and its level of doctor accountability, the law could provide this ser vice in an even more efficient and responsible way. From its official enactment in 1997, DWDA has aimed to provide qualified, terminally ill Oregon patients the opportunity to end their lives through the use of a doctor-prescribed, self-administered, lethal prescription (The Oregon Death With Dignity Act, 1994). A patient wishing to receive the prescription must be 18 years of age, a resident of Oregon, mentally competent, and diagnosed with a fatal disease that will likely lead to death within six months, and the patient must pass through a multitude of safeguards. First, a patient must make two oral requests for the medication to his or her physician 15 days apart, followed by a signed written request. Then two separate doctors evaluate the individual’s cognitive capabilit... ... peace of mind for the family, and for the legal security of the doctor, patients should undergo supervision until the time of their death, not merely until the time they receive the prescription. This final addition to DWDA would greatly increase approval within the medical community for this exceedingly debated law. Through two legal attempts to invalidate the law and years of criticism from a wide range of adversaries, DWDA has managed to provide a valuable service to over 500 ailing Oregon patients. Legislators could avoid future legal challenges and improve the safety for participating individuals by enacting and enforcing a few powerful safeguards regarding doctor accountability and patients’ mental health. Regardless, DWDA sets an unparalleled precedent in the realm of assisted suicide, and other states should strive for similar revolutionary legislation.

Islam in Bed with Europe in “My Son the Fanatic” Essay

My Son the Fanatic is a film that addresses the cultural conflict of both Islamic integration in into Europe and English culture, as well as the relationship that arises between a father and his Muslim son when the child grows up to become an Islamic fundamentalist. (Udayan Prasad, 1997, England; screenplay by Hanif Kureishi) A Pakistani cab driver in a Northern English town has an affair with a prostitute and chauffeurs her and her colleagues to make extra money. When his son becomes an Islamic fundamentalist and joins in an effort to clean up vice in the town, the family’s loyalties and beliefs are tested. This film completely tests the conflict that exists with Islam encountering the European world through migrations and cultural development. Kureishi reveals the core conflict of the reality of English sexual revolution of the 60’s encountering Islamic sexual regression of the present era. In the New York Time’s article â€Å"My Beautiful London†, author Rachel Donadio, notes, â€Å"One of the most revealing insights into Britain’s recent social history comes early in â€Å"My Son the Fanatic,† Hanif Kureishi’s tender and darkly prescient 1997 film. It’s morning in an unnamed city in northern England, and Parvez, a secular Pakistani immigrant taxi driver brilliantly portrayed by Om Puri, watches Farid, his increasingly devout college-age son, sell his electric guitar. † The essence of this cultural conflict between Islamic and Western English culture can be seen in both in how the filmmaker and the central character, the taxi driver Parvez and his son Farid, are raised. They are both brought up by mullahs and nuns alike which reveals the complex nature of multicultural issues a Muslim immigrant might encounter living in Europe. The potential for plot development is endless as the director notes â€Å"You can’t ask people to give up their religion; that would be absurd,† he wrote in The Guardian. But hard-line views might modify â€Å"as they come into contact with other ideas. † That was the essence of â€Å"effective multiculturalism†: not a superficial exchange of festivals and foods driven by liberal guilt, but something else entirely — an encounter with human desires in all their complexity. Higson poses the question in his article â€Å"The Limiting Imagination of National Cinema,† â€Å"When is a cinema ‘national’? , asks Susan Hayward (1993: 1). As if in answer, Crofts delineates several different types of ‘national’ cinema that have emerged in different historical circumstances (1993, 1998). They have performed quite distinct functions in relation to the state (Higson, p63). Hanif Kureishi’s work â€Å"My Son the Fanatic† fits this description exactly. The Film is historical and has an effect on multicultralism through its relevance and relation to England and the happenings of the ‘state. ’ In also being historical, â€Å"My son the Fanatic is also a product of National Cinema†, as â€Å"Proclamations of national cinema are thus in part one form of internal cultural colonialism: it is, of course, the function of institutions—and in this case national cinemas—to pull together diverse and contradictory discourses, to articulate a contradictory unity, to play a part in the hegemonic process of achieving consensus, and containing difference and contradiction Higson p. 139). Islamic law is formally composed of literal translations of Arab tribal customs and ancient Muslim traditions as well as the Koran, and quotes from the Islamic prophet Muhammad as well as his predecessors. â€Å"When you get down to it, there are two types of people in Kureishi’s work: those running toward sex and those running away from it (p. 6)† In the film Parvez’s son Farid notes that he is seeking â€Å"Belief, purity, belonging to the past,† and then he notes â€Å"I won’t bring up my children in this country. † This represents the classh between what is now his fundamentalist beliefs through devotion to Islam and the clash European cultures poses on those beliefs. Farid sees no way both ways of life can exist together. Likewise, Parvez represents the embodiment of a westernized Muslim, so much so that he can’t identitfy with son. In the film this conversation boils up into a conflict in which Parvez begins to beat his son repeatedly, until his son shouts to him â€Å"who’s the fanatic now? † A major motif of the film that Kureishi mentions in his interview, is the concept of old Sharia law and the ancient traditions of the past being re-imposed on a post-sexual revolution present. Kurishi points this intergenerational drama out as ironic when he says, It perplexed me that young people, brought up in secular Britain, would turn to a form of belief that denied them the pleasures of the society in which they lived,(Donp. 7 he goes on to pinpoint that exact issue that faces the relationship for shared for young people concerning Islam and western culture to date when he says, â€Å"the West, the Nietzschean project, has been to drive out religion and to produce a secular society in which men and women make their own values because morality is gone. Then suddenly radical religion returns from the Third World. How can you not laugh at that? How can you not find that a deep historical irony? † This irony Kureishi speaks of is the main theme of the film. In Richard Dyer’s essay The White Man’s Muscle, he talks about stereotypes that have been enforced connecting as far back as the Greek era, and that now dominate film and television basically promoting the superiority of white masculinity. Body hair is animalistic; hair ¬lessness connotes striving above nature. The climax of Gli amori di Ercole has Hercules fighting a giant ape, who has previously behaved in a King Kong-ish way towards Hercules’s beloved Dejanira, stroking her hair and when she screams making as if to rape her; close-ups contrast Hercules’s smooth, hairless muscles with the hairy limbs of this racist archetype. (Dyer) Here Dyer points out how the uppermost essence of masculinity is equated with shaven white muscle, through its very contrast to that of hair apes, who are historically associated with blackness. He acknowledges the racist aspects of this archetype, but also gives notice to the private boys’ club-like tradition that has formed from this prejudice. This mentality demonstrates the epitome of the world in which A state agency for assessing public religious schools had given a top rating to a Muslim school that was advocating a return to the Caliphate; the interior minister at the time, Jack Straw, came under fire for suggesting that it might be difficult for a community-relations functionary to meet with constituents who wear a full veil; an Indian woman living in England was lured back to India and murdered in an honor killing; the archbishop of Canterbury said he thought England might consider making some accommodation for Shariah, or Islamic law. What, I wondered, did Kureishi make of all this? (,p. 7) â€Å"There aren’t any answers to these questions,† he replied. â€Å"They’re just questions that everybody has to engage in and think about. What is it like to make a multicultural society? How far do you go in multiculturalism? Do you have parts of the country under Shariah law, for instance? What would that mean? How does that work? You have to take this stuff seriously. † (p. 7) In sum, â€Å"My Son the Fanatic† is potent with cultural complexity and relevance. The film speaks volumes about current issues facing the Western world today as well as those being posed by, and imposed upon the Middle East. One can’t see this film and overlook the tension brewing between the two cultures of the Muslim world and the Christian European environment in which it finds itself. The film does an excellent job of providing authentic interpretation for a conflict that is undyingly relevant and prevailingly influential in today’s socioeconomic and political climate. Work Cited Bordwell & Thompson â€Å"Film History† 2004 Donadio, Rachel â€Å"My Beautiful London† New York Times August 8, 2008 Dyer, Richard â€Å"The White Man’s Muscles† in White London Higson, & Fowler, Catherine. â€Å"The European Cinema Reader† London New York Ptacek, J. , & Dodge, K. Coping Strategies and Relationship Satisfaction in Couples. The Society for Personality and Social Psychology, 21(1), (1995). 76-84. Savran, David. (1998). â€Å"Taking It Like a Man: White Masculinity, Masochism, and Contemporary American Culture. † 380 pp.