Comparative Analysis of Islamic and Conventional Bank Risk Essay Example for Free

Comparative Analysis of Islamic and Conventional Bank Risk Essay The decline of the religion has been attributed into modern times with a materialistic culture by the popular wisdom of today, the understanding of religion has embedded this view, as nature having only spiritual limits, and the worldly well being of an individual is very detached in this relation. However, this understanding of Islam religion has been misguided by many of among us in the past, as well as in the present. A critical role has been played by every religion regarding the guidance to survive in a society communally, and in the characterization of different markets of that time. In the religious regards, equal distribution of wealth and debt annulment was preached and emphasized by every religion in the past. The enforcement of the debt bond has been strongly rejected by all the beliefs and the concept of canceling the debt have been upheld by them. In the past, in order to satisfy and fulfill the financial needs of devout and pious Muslims, a concept of money depository was introduced in the Islamic civilization, which has now become a growing phenomenon of the world, that is, around 1. 6 billion Muslims in the world. The macro-economic properties of banking institution have been studies by many economists with relation to an ideal and isolated Islamic economy framework. In modern days, the working of this pioneering financial system is going on very effectively in various parts of the world. In many developed and under-developed countries, the other conventional banking systems are having this unique financing system besides them in every sector of the economy. In this regard, the comparative analysis has been done in this study, which will try to differentiate the Islamic banking system with the Conventional ones. In this study, we will try to understand and clarify the demarcation between the Islamic and Conventional Banking and the risks that are borne by these methods of banking. A financial intermediary having the aims and objectives related to the principles of Islamic law or ‘Shariah’ may be defined as an Islamic Banking System. Consequently, the zero-interest activities and operations are the key features of this distinctive banking system. However, eliminating the transactions based on interest is not the only objective of Islamic banking. The abolishment of all kinds of exploitation is also another aspect of Islamic banking system. In result, a balanced and unbiased social order is established by the system in this regard. Only the role of financier is not played by an Islamic bank. It also works as a partner in the business of an individual. Due to this, the risk between the capital owner and the entrepreneurs is involved by this system. However, the positive result of the collective efforts is also shared by the Islamic banking. Thus, the other conventional banking and interest-based system differs from the Islamic banking, as only the entrepreneur or the owner of the capital bears the risk in the conventional banking, and vice versa. However, the individual and bank shares the abovementioned with each other, which provides the entrepreneur to develop as a whole. In other way, participatory banking name can be given to the Islamic banking in this regard. In the Islamic economics, zero return on capital is not meant by the eliminating process of the interest in this unique banking system, as the pre-determination of a fixed return is forbidden for a certain amount of production in the Islamic laws. The equity based investment principle is followed by the Islamic banks. The contraction of the resources based on deals relating to the sharing of risks, and the ventures of capital is also proposed by the Islamic banking. It has been noted by the economists that economic growth and development of an individual becomes applicable and easy with the vital role that is played by the Islamic banks around the world. We can say that a relationship between finance, commerce, and industry is tried and developed by this exclusive banking system, which differs from the other conventional banking due to these characteristics of its system. The Islamic banking plays its role as an equity-based system, where the pre-determined interest rate is excluded, and the nominal value of deposits is not guaranteed. In result, changing values of the share deposits absorbs the shock to asset position immediately. Therefore, in such system, the assets and liabilities of bank will carry the same real value at all the points. However, in the more traditional and conventional banking system, a diversion can be caused between the real assets and liabilities by such shocks in the process of fixed nominal value of deposits. Therefore, the abovementioned features of this Islamic banking differs it from the traditional and conventional banking system, and so, various levels of risks are borne by these systems. Nowadays, many countries are trying to examine the possibilities of the introduction of an interest-free banking system based on the Islamic laws and principles. It has also been argued and discussed that if the Islamic financial system will be established in the various countries, it will be feasible, but also profitable for the individuals, as well as, the companies as a whole. These days, the truth of interest as an unbearable burden is being realized by the Western countries, as well as, the developing countries around the world. In this regard, all the interests have been waived by the Canada. A similar move has been made by the Australia. The suggestion of waiving off the 30 to 35% of the present interests of the debt has been officially given by the President of France. Therefore, it may be generalized that Islamic Banking and Financing System is a unique and distinctive system, which differs from the conventional banking systems around the world. In order to make a more detailed comparative view of the working and risks borne by the Islamic and Conventional Banking Systems, we will try to analyze with the help of data that represents the comparison between these two financial systems that are applied and practiced around the world. There are some different and diverse characteristics of the abovementioned two banking systems, which should be discussed in order to clarify the comparison between them. In the Islamic Financing system, the number of customers is less than the Marketing-based financing system. The ownership of the Islamic Banking is usually taken by the local or foreign individuals. However, only the local shareholders enjoy the ownership in the conventional banking system. In the Islamic banking, the integration of different activities is very high as compared to the traditional banking system. Lastly, the Islamic financing system has the high intensity of managing and bearing the risk internally, as well as externally. However, the risk is managed and borne by the Marketing-based financing system less internally and externally. Risk sharing is closely related to the risk management; no matter it may be external or internal in its nature. Development of close ties between the customers, and other interest groups may bring the risk externalization by an organization. It has also been indicated by various economists that one contributing factor that is related to the risk management is the long-term relations, which are made on the mutual dependence in an organization. From the different studies related to the Islamic Financing System, the responsibilities are shared by the junior and the senior staff jointly in organizations. In this case, the higher and lower level of management shares the risk. However, in the Marketing-based and Conventional Banking system, the internal risk is shared on a lower basis due to the centralization of power and authority, as compared to the Islamic Banking System. Conclusively, a high degree of the sharing of internal risk is characterized during managing the risk management in the Islamic Banking system as compared to the other conventional financing systems. Therefore, there are many differentiation between the Islamic and Traditional Banking systems around the world. Regarding the risk externalization, in the Islamic Banking system, the close lender-borrower relationships are characterized during the lending activities of organizations. The borrowers are also guided by the Islamic bankers apart from lending funds to them. In result, efficient network relationships create the increment of the externalization of risks relating to the partners who exchange in this regard. Therefore, in the Islamic Financing System, the degree of external risk is observed to be high. However, the formal lenders-borrowers relationships are characterized within the Conventional and Marketing-based financing system. In the result, it is a low degree of externalization of risks in this traditional banking system. In this regard, the extent of success of a banking organization is determined by the lender-borrower relationships, where the customers are given credit in this regard. Direct contacts with the various customers are maintained within the Islamic, as well as, the Conventional Financing Systems. The differentiation is observed in the Islamic Banking System while dealing with the financial activities, as the borrowed funds are monitored closely by these bankers, which results in the higher intensity of the lender-borrower relationships. In this regard, the risks are borne on a higher extent by the Islamic Banking system as compared to the conventional ones. However, the bank gets the higher profit as we have tried to discuss it in the abovementioned matter. Conclusively, the issues of fairness and justice are concerned in the Islamic principles that are related to the interest, rather than defining the efficiency narrowly. The focus is placed on the necessity of sharing the risk in a stable condition with the help of these principles, as well as, at the time of exploitation of the markets. We have also clarified that the Islamic Financing System works on the equity-based projects. However, the conventional ones prefer the debit-based schemes for the lenders and individuals. In an Islamic financing situation, the ownership is shared by the both bank and the client, and in the Conventional banking, all the equity is owned by the client, and the property value plays as a security to the bank loan. We hope that this study will help the scholars and the economists in understanding the role and differentiation of the Islamic Conventional Banking around the world. Works Cited Ahmad, S. (1992). Towards Interest-Free Banking. New Delhi: International Islamic Publishers. Chapra, M. (2000). The Future of Economics: An Islamic Perspective. Leicester, UK: The Islamic Foundation. Dar, A. H. , and Presley, J. R. (1999). Islamic Finance: A Western Perspective. International Journal of Islamic Financial Services. Dar, A. (2002). Islamic House Financing in the United Kingdom: Problems, Challenges, and Prospects. Ahmad, K. (1994). Elimination of Riba: Concepts and Problems, Response to the Supreme Court Questionnaire. Institute of Policy Studies, Islamabad, Pakistan.

Narrative Essay Example for Free

Narrative Essay CALTEX FUEL POINTE SERVICE STATION Sto. Nino, Gapan city, Nueva Ecija In Partial Fulfillment of the Requirements for the Course Bachelor of Science in Information Technology Presented by: Mr. Kevin M. Sesbreno B. S. Information Technology Presented to: Mrs. April A. Atendido OJT Coordinator Republic of the Philippines NUEVA ECIJA UNIVERSITY OF SCIENCE amp; TECHNOLOGY San Leonardo Academic Extension Campus NARATIVE REPORT ON ON THE JOB TRAINING AT CALTEX FUEL POINTE SERVICE STATION Sto. Nino, Gapan city, Nueva Ecija In Partial Fulfillment of the Requirements for the Course Bachelor of Science in Information Technology Presented by: Mr. Emmanuel P. Garcia Mr. Kevin M. Sesbreno B. S. Information Technology Presented to: Mrs. April A. Atendido OJT Coordinator TABLE OF CONTENTS * Approval Sheet * Acknowledgement * Dedication I. INTRODUCTION a. Objectives of OJT b. Industrial Linkages amp; Coordination Office (Philosophy, Mission amp; Goals) II. The Training Agency / Company Profile a. Company Philosophy (Mission, Vision, Goals amp; Mandate) b. History (Company Background) III. Company Organization a. Organizational Structure b. Profiles of the Company c. Function of the Company d. Programs amp; Initiatives e. Expected Benefits IV. Experience Evaluation a. OJT Experience b. Insights Problems Encountered Suggestions amp; Recommendation V. APPENDICES a. Daily Time Record b. Weekly Report c. Evaluation d. Pictorials e. Certificate of Completion f. Author’s Data Republic of the Philippines NUEVA ECIJA UNIVERSITY OF SCIENCE AND TECHNOLOGY San Leonardo Academic Extension Campus San Leonardo, Nueva Ecija APPROVAL SHEET In partial fulfillment of the requirements in this NARRATIVE REPORT ON ON – THE – JOB TRAINING for the Degree of Bachelor of Science in Information Technology has been prepared and submitted by EMMANUEL P. GARCIA. Recommended By: MRS. Lorna G. Flores Trainor Accepted and Approved as partial fulfillment of the requirements in the course BACHELOR OF SCIENCE IN INFORMATION TECHNOLOGY, with rating of MRS. APRIL A. ATENDIDO OJT 1 Coordinator DATE OF APPROVAL: Republic of the Philippines NUEVA ECIJA UNIVERSITY OF SCIENCE AND TECHNOLOGY San Leonardo Academic Extension Campus San Leonardo, Nueva Ecija APPROVAL SHEET In partial fulfillment of the requirements in this NARRATIVE REPORT ON ON – THE – JOB TRAINING for the Degree of Bachelor of Science in Information Technology has been prepared and submitted by KEVIN M. SESBRENO. Recommended By: MRS. Lorna G. Flores Trainor Accepted and Approved as partial fulfillment of the requirements in the course BACHELOR OF SCIENCE IN INFORMATION TECHNOLOGY, with rating of MRS. APRIL A. ATENDIDO OJT 1 Coordinator DATE OF APPROVAL: ACKNOWLEDGEMENT We like to acknowledge the almighty GOD who gave us wisdom and intellectual capacity to let this work be of reality. We want to thank GOD for His guidance, help and protecting us from the first day of my OJT up to the last day, and for giving us strength in everyday just to fulfill this program. Secondly, we would like to acknowledge Caltex Fuel Pointe Service Station for accepting us as there ON-THE-JOB TRAINEE. For giving us chance to experience how to work in their company, and we want to thank also the manager, employees, cashier, security guard for giving me as sort of advice regarding the work that we experienced, for the knowledge that we gained when we worked with them as an OJT TRAINEE. We also wish to acknowledge the following person who helped us to finish/fulfill this program. We would like to thank all people who have helped and inspired us during my on-the-job training. We would like to thank our parents Eric Garcia and Ma. Theresa Sesbreno for their  guidance, concern and understanding and love and care that strongly encourage us in the fulfillment of the desired task. To our Aunt Lorna G. Flores for guiding us and for untiring appreciation. DEDICATION This narrative report is dedicated to our Almighty GOD for His guidance, helped and protecting us up to the beginning of our OJT up to the end of it. We personally dedicate this narrative to our family for their support, effort, moral encouragement, and for supporting us financially just to finish this program, it is dedicated to them because they served as our inspiration to finish this program. And to give our best in OJT. Lastly, we dedicate this narrative report especially to ourselves because we know we gave all our effort and time to finish this program. This work is dedicated to our girlfriend, Hazel S. Odono and Jessie Anne Lafina without their caring support it would not have been possible, and to the effort of our parents, Mr. amp; Mrs. Garcia and Mr. amp; Mrs. Sesbreno just to fulfill this program. I. INTRODUCTION INTRODUCTION On the job training or OJT is one method by which students is given a chance to apply the theories and computations that they have learned from the school. It also helps the students to acquire relevant knowledge and skills by performing in actual work setting. Colleges and universities require their students to undergo such training within a specific number of hours as part of the curriculum. For the students, an OJT or internship program provides opportunities to go through the actual methodologies of a specific job using the real tools, equipments and documents. In effect, the workplace becomes a development venue for a student trainee to learn more about his chosen field and practice what he has learn from academy. On the other hand, an effective OJT program also benefits the companies who accept trainees. First OJT or intern provides additional manpower for a lesser labor cost than a regular employee. Most of them are all eager to learn the ropes so chances are high that they will cooperate. Employers can use this internship strategy as a method in recruiting new employees. Since the trainer or the supervisor can follow the trainees’ progress, he can gauge based on performance, behavior and attitude if the trainee will make a good recruit after the completion of his internship. This study examines an early element of federal job training policy implementation the job training plan in order to assess its effect on the fulfillment of federal policy goals. OBJECTIVES OF OJT PURPOSE This is exciting time for me to have an ON THE JOB TRAINING that will allow individuals to learn the knowledge and skills they have been hired to do. OBJECTIVES 1. To provide students the opportunity to promote and broaden her/his philosophy and understanding of the chosen profession. 2. To provide the OJT students the opportunity to integrate theory and practice in his/her professional educations, to encourage the exchange of contemporary thinking between the apprenticeship and the agency and the agency personnel. 3. To enable OJT students to obtain information which can be used as basis for making choices and relation to future careers, areas of specialization, and or for their study. 4. To provide students opportunity to gain experience, supervisory, and administrative function. 5. To enable student- trainee to realize his/her own strength and weaknesses. 6. To help students being an understanding and appreciation of the role duties, responsibilities of a full time professional. 7. To provide student-trainee with experience that will enable him/her to develop sound human relation. 8. To strengthen relationship between the cooperation agency and university. INDUSTRIAL LINKAGES AND COORDINATION PHILOSOPHY Industrial Linkages and Coordination shall be committed to the philosophy of training and molding highly motivated industrial workers who shall be responsible for the development of the country future middle level manpower to spur the economy. MISSION To provide access to relevant and comprehensive industrial training program for the students to enhance technical competence and ensure job placement. GOAL To provide quality training and proper skills, work attitude and knowledge to prospective student trainees in different degree and non degree programs of the university. IV. EXPERIENCE EVALUATION ON-THE-JOB TRAINING EXPERIENCE With almost two months of our OJT in Fuel Pointe Caltex Service Station, we have gained a lot of experience involving to real job situation. The staffs and bosses of F. P. C. S. S, treat us as nice as one of them. They elped us with the things that we must learn about their station as well as the company. In our training we used to arrange and manage records manually. We also encode some records like the total daily sales oil and gas weekly report. Compute the meters of every pump reading. We are so thankful with this opportunity to work with them as a trainee because we have applied and developed us to lear n how to deal with problems that we may encounter with our future job. During our ON-THE-JOB-TRAINING in Fuel Pointe Caltex Service Station, there was no considerable problem in our place assignment. The problems that arise are mostly because we not used to working in that environment. Some of these are; At first, we had lack of self confidence and hard time searching the right approach on our supervisor although they all show kindness to us. We are not consistent on our early attendance, sometimes we got late which is not a good thing about a real job situation. But up to the end of our ON-THE-JOB TRAINING we feel fulfilled and contented with all the knowledge and experience that we have gained of course with all the helped of our good LORD. AUTHORS DATA Name:Emmanuel P. Garcia Age:18 Address:134 Burgos St. San Leonardo, Nueva Ecija Birthday:December 18, 1994 Contact number:0926-600-3350 Father:Eric V. Garcia Mother:Valerie P. Garcia Course: BACHELOR OF SCIENCE IN INFORMATION TECHNOLOGY Nueva Ecija University of Science and Technology San Leonardo Academic Extension Campus AUTHORS DATA Name:Kevin M. Sesbreno Age:18 Address:153 Burgos St. San Leonardo, Nueva Ecija Birthday:July 25, 1994 Contact number:0935-797-3235 Father:Rico G. Sesbreno Mother:Ma. Theresa M. Sesbreno Course: BACHELOR OF SCIENCE IN INFORMATION TECHNOLOGY Nueva Ecija University of Science and Technology San Leonardo Academic Extension Campus

Controllability Principle in Responsibility Accounting

Controllability Principle in Responsibility Accounting One underlying concept of the traditional management control system is the responsibility accounting. It is viewed as an important feature because it permits the ease of decentralization in M-form organizations. It distributes accountability and provides accounting reports on these distributed accountabilities. It provides a way for large unmanageable organizations to be managed such that all subsystems have similar goals. It can be defined as a system where managers are held responsible for activities under their leadership. Built on responsibility accounting is the principle of controllability. This principle has been viewed as the cornerstone of responsibility accounting (S. Modell and A. Lee, 2001). The principle states that managers should only be evaluated on elements that are within their control. Research literatures on responsibility accounting point to the fact that responsibility accounting and the controllability principle cannot be made independent of one another. The re lationship becomes obvious when both are looked at together; responsibility accounting holds the manager responsible for a particular division but the controllability principle ensures that the managers are held responsible only for factors that they can control. For this reason, Ferrara (1964) called responsibility accounting a communication system with the sole purpose of helping the organization achieve its goals. The controllability principle, therefore, serves to make this communication channel clearer and understandable. The role played by the controllability principle makes it an appealing notion. However, much research articles have argued for the observance of controllability principle as well as against its observance in responsibility accounting. This paper seeks to evaluate the arguments for and against the observance of the principle of controllability. Arguments For and Against the Observance of Controllability Principle Recent research concludes that there are two types of uncontrollable factors within the borders of controllability; internal uncontrollable and external uncontrollable factors. Studies also show that when it comes to controllability, managers consider responsibility accounting fair when the effects of internal uncontrollable factors on their performance is negated in appraisal. The concept of fairness was given in McNally G. (1980) as one of the rationales for observing the principle of controllability. He stated this using the expectancy theory of motivation. The notion of fairness makes the observance of controllability desirable when performance evaluations are carried out on the managers. The controllability principle makes the appraisal a fair one. This is as a result of the appraisal done in consideration of the controllable factors and uncontrollable factors. The result of the appraisal would be a satisfied and possibly motivated manager. Choudhury N. (1986) goes further to sa y that this conforms to the commonly held principle of justice. The equity theory of motivation also helps to explain it further the theory says a fair days work for a fair days pay. In the case of the manager and controllability, this would be a fair assessment for a fair periods work. Achieving organizational goals are very important for any firm and the means of doing that is through the managers of the decentralized firms but if the managers perception of the performance appraisal is unfair, he is demotivated and unsatisfied. He also loses focus and possibly direction. Going by McGregors Y theory of motivation, this could damage the managers perception of his work. He wants to work and put in his best but if his best is judged against things out of his control, this could lead him to learned helplessness or to leave the firm (Nandan C, 1986). For such an organization whose appraisal system is deemed to be unfair, they would have a high turnover rate. The implications of this are far reaching as harmful managerial behaviour might crop up. With fairness in place, observing the principle of controllability helps managers to pay attention to uncontrollable factors. The responsibility accounting holds them accountable for what goes on in their divisions; controllability principle makes the uncontrollable factors obvious. Managers will direct corrective efforts to these uncontrollable factors (McNally G., 1980). This in turn would help to influence the managers behaviour such that it aligns with organizational goals. The knowledge that his appraisal is a fair one would motivate him to try to exert some influence over these uncontrollable factors. If the influence pays off, then he is one step closer to achieving organizational goals. This also induces him/her to pay more attention to factors previously perceived as uncontrollable but now influenceable because of the effort he has applied (F. Giraud, P. Langevin and C. Mendoza, 2008). In the agency theory framework of management control where all information is used to appr aise the managers performance in line with the controllability principle, the appraisal report highlights the controllable and uncontrollable factors. Senior management can attach rewards to these seemingly uncontrollable factors to ensure that managers do their best to attain them without neglecting other duties necessary for the organizational goal attainment. S. Modell and A. Lee (2001) refer to the influence over seemingly uncontrollable factors when they noted that reliance on controllability principle helps to enhance managerial control of powerful institutional actors such as managers. The empirical study carried out by Frow N, Marginson D, and Odgen S. (2005) at Astoria PLC also points out the fact that factors that cannot be controlled can be influenced with some effort; they found out that the firm uses the AIP (Astoria Improvement Process) to reinforce influenceablity. They noted that the AIP helps the manager retain some form of control where they have only partial contr ollability but the AIP also imposes expectation on the managers. This would ensure that the managers make extra effort to influence these factors to meet the expectation laid up on them. Controllability principle helps to neutralize the effects of uncontrollable factors on a managers performance, thus giving a true picture of the managers efforts. This is another appealing notion of the controllability principle. It has been argued that the organization is a social system that grows in complexity like the biological systems. This complexity brings with it constant changes and in the organizational context, this would mean unforeseen changes that can have positive or negative effects on the efforts of the manager. One of such complexity is the competitive and economic elements. Both of these can affect the managers effort in a positive or negative way. An appropriate example is the financial crisis of 2007-2010 which has caused a downturn in stock prices. This in turn affects the profit and investment levels but the controllability principle neutralizes the effects of the financial crisis on the managers performance. Giraud et al (2008) noted that neutralization of un controllable factors can take two forms; ex-ante neutralization and ex-post neutralization, both of which have the same the same result, neutralizing the effects of uncontrollable factors on the performance of the managers. The Controllability principle provides a reliable assessment of the managers performance. When all uncontrollable factors have been neutralized, the assessment will be based on the efforts of the manager in improving the division under his control. Choudhury (1986) notes this when he says that the results of the division under the mangers control is a combination of the managers efforts and the uncontrollable factors. Separating managers effort from uncontrollable factors provides a better basis for assessment. In the principal agent framework, this would be a very necessary basis for rewards, the principal uses everything in his disposal to appraise the manager but when controllability principle removes the uncontrollable factors, the managers efforts are clearly seen. The rewards can then be based on the managers efforts at controlling the factors that he could to achieve organizational objectives. Ferrara (1964) argues that the controllability principle in responsibility accounting helps the organization to grow in that it helps to locate the errors and mistakes of the organizational members. He argues that errors and mistakes are the stuff of which progress is made . He also argues that controllability is a means of locating those activities and people in the organization in need of help so that assistance can be rendered and scarce resources of the organization would be more utilized. This would mean that controllability principle works in line with the organizational goals and where a positive attitude about it is inculcated in managers, the organization should move at the targeted pace. The responsibility accounting reports will make clear the controllable factors and the uncontrollable factors but amidst the controllable factors, a well prepared report will reveal where there might be problems. These problems can be considered and worked on or used as a base for future st rategic plans. When all errors and mistakes are corrected, they make room for improvement. In spite of these appealing advantages for controllability principle, there have been arguments against its observance in the responsibility accounting. Choudhury (1986) argues that controllability principle is not sacrosanct. Considering the size of big firms, a lot of factors hinder the practicality of the controllability principle. The interdependencies of the divisions within these firms create an unclear line with respect to divisional boundaries and places difficulty on the responsibility accounting process. One such factor is the task complexity of some divisions. If a particular manager works with another divisional manager to accomplish a difficult task, it becomes difficult to appraise the managers efforts because supposedly, the manager with the task had control over the particular task but performance appraisal with controllability principle makes this difficult. The manager had the task under his control but the other manager that helped had no control over the task but had ideas and participated in accomplishing the task. In this aspect Amey (1979) compares organizations to biological systems that grow in complexity. The complex growth makes controllability impossible. Observing the controllability principle in complex organizations is limiting on the innovativeness and the creativity of managers in the organizations. When managers are aware that they are being assessed on controllable factors, they would not be willing to take on risky ventures that have potential benefits for the organization. In their examination of the limitations of controllability principle, Antle and Demski (1988) conclude that the limitations of controllability on organizational growth can be modified through the information content notion. The limitation of the controllability principle is a hindrance on the positive results of team work. M-form organizations require team work to succeed, however, the observance of the controllability principle in the principal-agent framework breeds competition and this affect team work negatively thus a sales manager might have a good idea on how to achieve the tasks of the marketing manager but because he does not want the marketing man ager to do better that him in their performance appraisal, he would not assist or offer advice. Team work is therefore placed at the bottom of the list of useful organizational ethics. On the contrary where both managers would work together without neglecting their divisional duties, they could achieve desired results and if possible, meet their separate targets. The study carried out by Frow et al (2006) supports this fact; their findings revolve around accountability without controllability and the results also shows that the Astoria Plc. encouraged more co-operations because of organizational promotion of greater interdependencies. Another aspect where the observance of controllability principle is limiting is the area of performance evaluation. It limits the use of market measures in evaluating the managers performance. The use of market measures is one of the ways of evaluating senior management employees and the limiting effect of the controllability principle weakens the effe ctiveness of these measures (Merchant, 2006). The limitations of the controllability principle lead to rigidity in organizations. The controllability principle does not allow room for organizational flexibility. It limits the organization to growth based on only controllable factors. Modern day organizations are very dynamic and this constant change is not compatible with the concept of controllability. If controllability principle is been observed in an organization, the organization would not allow change such that it is flexible and easily adaptable to changes in its environment. Amey (1979) argued that businesses needed to maintain flexibility in internal arrangements such that adjustment would not be impeded and its links with its environment would grow stronger. Observing controllability principle in responsibility accounting involves some elements of subjectivity. This occurs when the basis for establishing controllable and uncontrollable factor are unclear. The performance evaluation team will have to set a criterion to use when carrying out an appraisal; this criterion would be based on what they think and probably not what they are aware of. In doing this, they become subjective in the appraisal. This would be perceived by the manager as unfair appraisal. He would view himself as being unfairly treated without consideration of factors contingent upon his performance. As a result of this perception of the performance appraisal, the manager could behave in a dysfunctional way. Such actions would be detrimental to the organizational goals. A manager who perceives an unfair system would also be demotivated. The findings of the research done by Giraud et al (2008) concluded that managers do not want uncontrollable external factors neutralized because of the level of subjectivity involved in it. Similarly, drawing from the study carried out by Modell and Lee (2001) institutional factors affect the controllability principle, in turn these factors affect the efficiency of the responsibility accounting system. The controllability principle is also expensive to maintain in an organization. I would argue that the process involved in ensuring the observance of responsibility principle is not cost efficient. The process would require constant research into the market forces so as to distinguish controllable factors from uncontrollable factors; where it is not possible to make such a distinction, the organization would have to incur more costs to ensure that the performance appraisal system is perceived as fair by its managers. The energies and costs that would be consumed by such a process would be effectively used in another part of the organization where it would be beneficial. Giraud et al (2008) also argues on the difficulty of evaluating uncontrollable factors, they specifically note the difficulty as regards the impact of economic recession. Thus, I would also argue that payment for the services of qualified experts on the distinction between controllable and uncontrollable factors for p erformance evaluation is an unnecessary cost to the organization. Research has also shown that observing the controllability principle leads to dysfunctional behaviour of managers. Hirst (1983) noted that reliance on performance measures that capture uncontrollable factors promote dysfunctional behaviour. This as a result of the managers perception of the performance evaluation system; he wants to avoid the effects of uncontrollable factors and he does that by engaging in activities that do not promote organizational objectives. Giraud et al (2008) mention such activities to include data manipulation, creating slack and developing an excuse culture. He narrows his focus to just the factors that he knows he would be appraised by and where he fails, his self-efficacy is reduced. Observing controllability principle in responsibility accounting can have consequences for organizational goals. It can lead to short termism on the part of manager. In narrowing their focus, managers focus on the components of the performance evaluation system and not on the organizational goals. This would lead to the neglecting of organizational long term goals. Thus, a manager with a long term goal of improved return on investment but with a sales division short term goal of number of user complaints per month and percentage variation from budgets will focus only on reducing the percentage variation from budgets thereby maligning the chances of improving the ROI. This might mean inferior sales strategies that would result in a drop in sales figures which have negative effects on the ROI. Conclusion Theoretically, observing the controllability principle in responsibility accounting has been perceived to have its advantages and disadvantages to the organization. The definition of the controllability principle indicates that there is a clear distinction between controllable and uncontrollable factors. This distinction supposedly makes it easy to observe in responsibility accounting. However, empirical studies reveal that organizations do not fully observe the controllability principle. Findings indicate that there is some sort of continuum that has controllable factors on one end and uncontrollable factors on the other end with varying degrees of control in between. Studies also show that some managers do not see themselves on either end of the continuum but somewhere in the middle. This means that strict observance of the controllability principle is impractical. Choudhury (1986) argues that the responsibility accounting concept should not be hindered by controllability and that it should be interpreted independently of controllability. Moreover, controllability should be defined contingent upon the contexts of the organization. McNally (1980) also argues that controllability can be applied in a modified version. Recent literature also indicates that organizations tend to hold managers for factors that they can influence rather than factors that they can control. This lies somewhere between controllable factors and uncontrollable factors on the controllability continuum. Giraud et al (2008) refer to this as the influencable factors. In addition, the interdependencies of organizations blur the lines separating controllability and other sub-systems in the responsibility accounting system (Hirst, 1983) as well as the uncertainties of the organizational environment. Consequently, I would argue that strict observance of the controllability principle is unrealistic. The modification and the re-definition of the controllability principle is a gradual shift away from the premise of the controllability principle. The difference between controllable and uncontrollable factors is lacking in clarity as regards modern organizations. It also does not align well with the structure of modern day organizations. Similarly, factors that can be influenced today might not be influenced the next day or next operating period because of the unpredictability of the environments of the organizations. Besides, can the ability to influence an event be measured and to what extent can it be measured?

Analysis of Dickinson’s I heard a Fly buzz - when I died Essay

Analysis of Dickinson’s I heard a Fly buzz - when I died Emily Dickinson wrote hundreds of poems during her lifetime that dealt with death. She seemed to have an almost morbid fascination with the subject. Her poem "I heard a Fly buzz - when I died" is one of the many poems she wrote about this ghastly topic. The symbols she used make this poem interesting because they can be interpreted on more than one level. The punctuation and capitalization used also give the poem an abstract quality. Like much of Dickinson's poetry, this poem is both startling and somber. One thing that stands out about this poem is that the word fly is capitalized throughout. It makes one wonder what the fly actually represents. Flies often gather around death and dead things, and on one level, the fly can be seen as a representation of death. Death, the perpetual fly on the wall, is finally making itself noticed. Although the speaker has always known that death is going to come, when it finally arrives, its modest appearance is disappointing. The fly can also be seen as an interruption in the narrator's process of dying. The fly can be heard buzzing above the "Stillness in the Room." The fly also comes between the speaker and the light in the last stanza of the poem, which is another disturbance in the speaker's dying process. The fly can also be seen in an ironic light. The speaker, like all of us, is expecting death to be an important, grandiose experience in our lives. Her own death, however, is interrupted by something as insignificant as a fly. The insignificant quality of the fly could represent the commonplace nature of death and the relative irrelevance of the death of one person. The fly is unimportant, an... ...e describing a sort of spiritual death, since she talks about the fly cutting her off form the light, which could represent God. This interpretation has some difficulties, however, since family members probably would not be present during a spiritual death. (Dickinson 1146) Dickinson's poetry is both thought provoking and shocking. This poem communicates many things about Dickinson, such as her cynical outlook on God, and her obsession with death. It is puzzling to me why a young lady such as Emily Dickinson would be so melancholy, since she seemed to have such a good life. Perhaps she just revealed in her poetry that dark side that most people try to keep hidden. Works Cited: Dickinson, Emily. "I Heard a Fly Buzz When I Died." The Norton Anthology of American Literature, Vol. 1, 2nd Edition. Ed. Nina Baym, et al. New York: W.W. Norton, 1985

William Shakespeares The Winters Tale Essay -- William Shakespeare W

William Shakespeare's The Winter's Tale In Shakespeare’s The Winter’s Tale, the playwright introduces his audience to a world blending natural imagery with that of ancient religion. Appearing as nature’s child, Perdita fails to realize her own identity and does not recognize that the flowers she describes mimic her own image. Just as gillyvors are a result of crossbreeding, the shepherdess is essentially one of nature’s bastards since she eventually discovers Porrus has been an adoptive father for her, and Leontes is her biological father. Perdita not only shares her natural image with the goddess Proserpina, but also shares in the goddess’ fate as a lost daughter. Much like Proserpina who represents the springtime, Perdita exemplifies the natural growth and prosperity that accompanies the season. When Antigonus agrees to take up Perdita and leave her to chance, he understands that she is nature’s child since â€Å"Some powerful spirit instruct the kites and ravens / To be thy nurses. Wolves and bears, they say, / Casting their savageness aside, have done / Like offices of pity† (II.iii.185-8). Nature then raises the infant as her own when Perdita takes on natural attributes uncommon among humankind. Before Antigonus abandons the infant Perdita in accordance with Leontes’ orders, he addresses the babe, â€Å"Blossom, speed thee well† (III.iii.45), as though Perdita resembles a flower in full bloom. As Perdita grows older, the shepherdess imparts her â€Å"blossoming† image on others, particularly on the courtiers who greet her in the country. After asking Dorcas to â€Å"Give [her] those flowers there,† she distributes â€Å"rosemary and rue [which] keep / Seeming and savor all the winter long† (IV.iv.73-5). The flowers ... ...u might well enjoy her† (V.i.214-5). Perdita’s beauty surpasses her lowly stature to the point where she is not regarded as a shepherdess to Leontes, but rather as a higher power. Perdita ultimately takes on the natural image of Proserpina as well as her role as a lost daughter. Through the flowers Perdita mentions, she effectively manages to describe not only her own identity, but that of the goddess. Even though Antigones abandons the shepherdess at birth, Perdita’s missing person and questionable identity causes others to also lose the ones they love and opportunities they could have had. Because the loss of Perdita creates significant loss for others, it is as though the maiden has a hand in others’ lives, much like the gods. Thus her indirect intervention, image, and role as a lost daughter all play a key part in her representation of Proserpina.

Essay on What Dreams May Come :: What Dreams May Come

What Dreams May Come    When mortality is contemplated, issues of life, death, and the hereafter are usually the first of a myriad of topics to spontaneously arise as if they are from the dark depths of a person's soul. I believe that this is most eloquently stated by Hamlet:    For in that sleep of death what dreams may come, When we have shuffled off this mortal coil, Must give us pause. (III. i.)    This passage served as inspiration for Richard Matheson, the author of the novel, What Dreams May Come. This essay is in two parts: discrepancies between the book and the movie, and views of life/death in the movie and book.    Part I: Discrepancies The first noticeable discrepancy between the book and the movie is that the movie is a movie (meaning that the movie progresses with the characters for the most part except for the occasional flashback) while the book is a retrospective by Chris of his life and escapades written after he is dead. The first chapter of the book opens with a medium at Richard Nielsen's (Chris's brother) door. It appears that after rescuing Annie in her very own, limited edition, private hell, Chris finds a medium, and he pesters her until she agrees to transcribe his journal (it took her six months) and hand deliver it to Richard.    Another major discrepancy between the movie and the book is that in the book the children do not die. In fact, the children are they way that Chris can find his way back to Annie; through their thoughts and prayers. Before Anne dies, Chris gets Albert (not his son in the book) to look up how long Anne is to naturally live. Albert comes back and reports that it is twenty-four years. Chris becomes devistated and worries about it. Then, Anne kills herself. In the book, Anne would not be in her own patented hell forever but for the time she was to live (she still committed suicide). So she would be in her desolate hell for twenty-four years. That doesn't seem too bad but Chris would not hear of such, and then proceeded to persuade Albert to help him get in touch with Anne again.    Richard Matheson became a new-age metaphysical expert in order to write What Dreams May Come. He wanted the book to be as realistic as possible, so he acquired dozens of books (all listed in the Bibliography) and first hand Near Death Experience accounts from people from all walks of life.

The Painted Veil – Presentation Note

Lift Not The Painted Veil Which Those Who Live Lift not the painted veil which those who live Call Life: though unreal shapes be pictured there, And it but mimic all we would believe With colours idly spread,–behind, lurk Fear And Hope, twin Destinies; who ever weave Their shadows, o'er the chasm, sightless and drear. I knew one who had lifted it–he sought, For his lost heart was tender, things to love, But found them not, alas! nor was there aught The world contains, the which he could approve. Through the unheeding many he did move, A splendour among shadows, a bright blot Upon this gloomy scene, a Spirit that stroveFor truth, and like the Preacher found it not. Percy Bysshe Shelley Charlie Townsend Post: married British vice consul = smart, sensible and he knows very well of what’s going on evidence – after walter walked away when he first found them in Kitty’s room, kitty was so panic but townsend knows that Dr. Fane will do nth. To cause any sc andal – when he’s discussing about the dealing with strikes(walkouts)/ boycotts in Shanghai with businessmen in the Colony Club, he banned the suggestion of seeking help from Chiang Kai-Shek as he knew that he’s a nationalist that must stand on the side of Chinese, he will not help them suppressing the strike. mature and experienced woman-hunter , very dissolute person and he’s unfaithful to his wife Evidence –flirted kitty from the very first moment they’ve met when they’re watching the Chinese opera ?Telling kitty what happened to the actor in the opera which he thinks that it may be similar to Kitty (she weeps for the lively, vivacious girl she once was? the lonely woman she has become; she weeps for the love she’ll never feel, for the love she’ll never give) to flirt Kitty ? made Kitty believes that he understands her, admire her ? Charlie Townsend found it so easy to get hold of her As described by Waddington: he ha d his little flirtations +As described by Dorothy: the women who fell for her husband were so consistently second-rate ? even his wife knows that her husband is a gallant/licentious/dissolute person that flirts many women +having an affair with Kitty? adultery, he only sees Kitty as his mistress to satisfy his physical needs (attachment: lever) Dorothy is more important to him because â€Å"whatever happens, we must try to keep Dorothy out of it† ? did not want to hurt Dorothy and nth in the world could induce him to divorce herWomen are always under the impression that men love them more that they really do. Film language – = selfish, vain and incapable of caring for anyone but himself Care for his reputation/ job/ post: â€Å"do you have any idea of the importance of my station here? † – at that time, there’ll be many rumors that ruin the reputation of a man if anyone divorce his wife and marry another woman. Therefore he cares more about his rep utation, his position than what will happen on Kitty if he does not marry her, as Kitty is just someone means very little to him.Film language – =a person who made false promise Evidence – sent kitty a ring as a gift – RING: symbolize love, faith and commitment. He proclaimed that he loves Kitty when he was having sex with Kitty, actually he does not love her, it’s just a way to flirt Kitty and make Kitty willing to continue the affair with him. – promised that he would help solve the problem when Kitty was forced to be divorced. After 5 years, at last, he still did nth, not even a letter to show his concern. â€Å"I should have written†Film language – Why Townsend treat Kitty as close as 5 years ago when he later met her in London? =the only one that failed to change in the film He never learn from any experience or errors that he has made; Besides, he does not think that he had done sth wrong? does not feel sorry /guilty for breakin g Kitty’s marriage He tried to date Kitty again in his later few weeks in London (to see if there’re any more chances for him to flirt kitty again, like 5 years ago) – described by Kitty – â€Å"no one important† 0th century that artists began to use it fully; a pipe would stand for thoughtfulness and calm; the cigarette symbolized modernity, strength and youth, but also nervous anxiety; the cigar was a sign of authority, wealth and power. The decades following World War II, during the apex of smoking when the practice had still not come under fire by the growing anti-smoking movement, a cigarette casually tucked between the lips represented the young rebel, epitomized in actors like Marlon Brando and James Dean or mainstays of advertising like the Marlboro Man.It was not until the 1970s when the negative aspects of smoking began to appear; the unhealthy lower-class loser, reeking of cigarette smoke and lack of motivation and drive, especially in a rt inspired or commissioned by anti-smoking campaigns. [ Literature Just as in other types of fiction, smoking has had an important place in literature and smokers are often portrayed as characters with great individuality, or outright eccentrics, something typically personified in one of the most iconic smoking literary figures of all, Sherlock Holmes.Other than being a frequent part of short stories and novels, smoking has spawned endless eulogies, praising its qualities and affirming the author's identity as a devoted smoker. Especially during the late 19th century and early 20th century, a panoply of books with titles like Tobacco: Its History and associations (1876), Cigarettes in Fact and Fancy (1906) and Pipe and Pouch: The Smokers Own Book of Poetry (1905) were written in the UK and the US.The titles were written by men for other men and contained general tidbits and poetic musings about the love for tobacco and all things related to it, and frequently praised the refined ba chelor's life. The Fragrant Weed: Some of the Good Things Which Have been Said or Sung about Tobacco, published in 1907, contained, among many others, the following lines from the poem A Bachelor's Views by Tom Hall that were typical of the attitude in many of the books: The cover of My Lady Nicotine: A Study in Smoke (1896) by J. M. Barrie, otherwise best known for his play Peter Pan. â€Å"So let us drinkTo her, – but think Of him who has to keep her; And sans a wife Let's spend our life In bachelordom, – it's cheaper. † —Eugene Umberger[68] These works were all published in an era before the cigarette had become the dominant form of tobacco consumption and pipes, cigars and chewing tobacco were still commonplace. Many of the books were published in novel packaging that would attract the learned smoking gentleman. Pipe and Pouch came in a leather bag resembling a tobacco pouch and Cigarettes in Fact and Fancy (1901) came bound in leather, packaged in an imitation cardboard cigar box.By the late 1920s, the publication of this type of literature largely abated and was only sporadically revived in the later 20th century. [69] Cigarettes in old films were early forms of ‘product placement' 5. Cigarettes as Phallic Symbols Back during the Hays Code days, cigarettes were clever devices used as metaphoric hints at sexual activity. When characters shared cigarettes, such as in Now, Voyager, To Have and Have Not and Rope, it implied a sex act. When Marlene Dietrich held a cigarette in any of her films, the prop was a phallic symbol implicit in projecting an image of bisexuality.And ironically, in a film as explicit as 9 ? Weeks, a cigarette may have been a required stand-in for Mickey Rourke’s penis during a strip-tease scene, because male nudity continues to be a taboo while the naked female body is common on the big screen. However, not all cigarettes in films represent sex and/or phallus, but due to the heavy employment of the prop in such a way for so many years, it’s hard for moviegoers (particularly those of us with film studies degrees) to think of them as anything but sex symbols.Fortunately, Hollywood is being forced to censor out cigarettes from their movies (for even featuring a pack of cigarettes), and meanwhile they continue to break sexual taboos at the same time. So this cliche is likely to go way very soon. Friendship Since friendship is not a very important issue in the Painted Veil, Compared to love and death, I’ll just talk about the more significant one. = kitty and Waddington At the very first beginning: Then: At the end: = Dr Fane and Colonel Yu When Colonel Yu met Walter, Then, after At the end: =Kitty and sung chingAt first, Sung Ching was appointed by Colonel Yu to protect Kitty due to the anti-foreigner atmosphere in china, kitty felt like she was guard as a prisoner Then, she started to reject Sun Ching’s protection and treat him badly when she was finding Mr. Waddington for mailing the letter, tell him to go away and she does not need him At the climax of the anti-foreigner movement, Sun Ching saved Kitty and Walter from the crowd, on the next day, kitty then ask Sun Ching to come with her friendly. Mei-tan-fu Background info = a village mad up by the author, not a real village (at first ? lanned to build a new village of Mei-tan-fu in Guangxi, however, the cost is too huge and overwhelming ? sent a scout to find a village for the film ? found a completely untouched village = Huang Yao – 800 years history; untouched because there’s no telegraph poles or anything else to contact people in other places? perfect for shooting The rivers and mountains shoots are taken from Huang Yao, it’s from Guangxi ~> on-location (means the film is shot at the actual place where the action occurs) Mei-tan fu is a place with many significance in the film, please pick one to and explain why.Significances: = new home of the Fanes = the place where death rest – Chinese villagers/ walter/ kitty seeing two corpses + colour of lights 1st: the corpse of a villager pass along the same road of Kitty and Walter’s sadden chairs 2nd: the hut where kitty and walter stays – the doll on the bed of kitty’s room Walter: â€Å"I won’t touch that if I were you, they may have died in that bed† 3rd: the corpse of a villager on the side of the road when Kitty walked out from Mr, Waddington’s house 4th: the bodies are buried too close to the river th: the death of Sister Maryse 6th: the soldiers removing corpses from the villagers’ house 7th:the death of walter =a place for reunion -kitty and walter=a place where they fall in love again Before the union, Walter and Kitty were separated spiritually due to the affair . /. kitty and charlie How – after kitty had heard from the nuns about Walter helping the orphans? stating to know that he is a good man and wants to impro ve their relationship.After Walter had seen Kitty playing with the orphans, he started to have better feelings for Kitty After the union, their relationship has been recovered, they even have sex after drinking with Mr. Waddington and XX. Then they travel on the boat to let Kitty visit the water XX. =changes brought by cholera(+ve and -ve) – kitty(+ve)/ walter(+ve &-ve)/ colonel yu(+ve) Described by Kitty- no place for a woman; madness for me to go Described by Dr. Fane – small town on a tributary of Yangtze River, in the interior Film language: colour of light, long shot,