Pandora Essay Example | Topics and Well Written Essays - 250 words

Pandora - Essay Example Specifically, the company achieves this through the provision of up-to-date music, drama, and related discussion such as a live performance on the company blog. The blog and the ‘Submit your Request’ platforms within the website allow users to create free online profiles to participate in discussions. The personalized station established the Music Genome Project allows the users to edit or refine the content to fit the personal change in music taste and preferences.The interactive feature on the Pandora.com website characterizes it as a social media platform. The social media is an online phenomenon that supports connectivity and interaction, as well as encouraging contributions and feedbacks on online topics from the members and users of the virtual community. The essential features of the social media include connectedness, participation, openness, and conversation. The Pandora.com supports these characteristics through the blog where users post and contribute to the a rticles on various topics.Another unique and primary feature of the social media is the user-created and maintained an online profile that facilitate digital dialog. Although Pandora.com does not have an intensive and user-enabled profile like Facebook, it has a platform that supports online contribution and commenting on the available topics. The Pandora.com internet community has a common interest in music and comedy categorizing the website as a specified social media that confines its engagement within the entertainment industry

Esaay Essay Example | Topics and Well Written Essays - 1500 words

Esaay - Essay Example The paper will explore my career objective, learning style, my team role, personal attributes and abilities as a mathematician in computer science and information technology. My career objective is to work for a reputable organization as top-level management in the fields of finance, management, public service or actuarial management where I would be able to use my mathematical and analytical skills to solve mathematical problems related to computer science. I will also be able to use my outgoing personality, enthusiasms, positive attitude, and will to work as a team to enhance the performance of the organization. Learning style preference is a factor that dictates the things that students learn and the ease with which they are learnt. This is because they have the potential of exerting powerful manipulation on the learning effectiveness. For this reasons, Honey and Mumford formulated a four learning style questionnaires that learners may prefer to adopt and a preferred learning methodology. These include the activist, reflectors, theorist, and pragmatism learning styles. I being interested in mathematics that requires deep analytical and complex computations and my preference of working as a team, I prefer the pragmatic learning style. This is because it allows me to ask questions on the spot from my lecturers who are experts in the field of mathematics. Pragmatic learning style enables discussion with my colleagues easy as one who is more knowledgeable in a particular area is given a chance to demonstrate to others the problem instead of struggling as an individual making trial and error as is the case with activist style (Pont 87) Leaning power refers to the skills and psychological traits that enable learners to engage effectively in diverse learning challenges. In this regard I believe that I posses different learning traits and powers that has seen me improve and get good marks in mathematics. My

Scholarly vs. Popular Media Focus on Sexuality Essay

Scholarly vs. Popular Media Focus on Sexuality - Essay Example Flyers and lucid media images that stir up teenager girls to prime their fancy on sexuality and looks are injurious to self-esteem and physical health (Jayson 12). Conversely, this revelation can encourage girls and young women to view themselves and their bodies as sexual objects. The article also cuts across other issues like dolls which are used in TV, and or commercial advertisement. Ideally, Brazt dolls use suggestive clothing to dress their dress up their dolls that feature in advertisements. These dolls usually appear in MTV advertisements in sleazy miniskirts, fishnet stockings, and feather boas. According to Jayson (12), this sleaziness is what has led critics to label the dolls as potential motivators of sexualization of women and girls. It is a reality to contend with, as these are designed by default for four to eight olds, while they are still connected to objectifying adult sexuality. In her article, Jayson notes that these dolls with suggestive clothing have made some parents anxious and nervous over the uncalled for sexualization of their children. This is partly due to the sense of moralization around the advertisement. However, they is a huge difference of opinion between the teens and the older generation that views, although provocatively, teenage fashion as far too-concealing. On the other hand, teens may not view themselves as mere objects of sex. The two article speak, although, using different levels of thinking and perspectives, about women as sexual objects. The articles touch on advertisements, which would either be aired on commercial TV, and fashion magazines. Either way, both articles talk in depth about how advertisement may encourage young women and girls to change their perceptions into crasser sense of awareness about themselves. This... The articles talk in depth about how advertisement may encourage young women and girls to change their perceptions into crasser sense of awareness about themselves. This may negatively impact on the self-esteems of the teens and young women, who start to view themselves as sex objects. Even so, they reveal to us despite the companies’ objective behind their advertisements, there still is some moralizing about it.Women’s bodies are portrayed to be persistently on display with a view to be judged. Therefore, when women are represented as veritable sex objects in more than two, in fact three advertisements, the point becomes clear to both men and women: A woman’s significance is based on her physical appearance and sexuality. Moreover, this view suggests that women are objects to be looked at, rather than players with their own sexual craving. Granted, seeing women as sex objects doubles the rate of sexual violence against them. This view in turn makes sexual violen ce towards women appear justifiable. The two articles, examined here, were rather written professionally and independently, whereupon the authors have used different perspectives to pass across vital. The scholar approach article was presented in a more detailed form, while the popular media article was presented in one-off outline. Both articles have a deep wealth of information, but the scholarly approach carry’s the day with its informative and detailed style it was written.

HYBRID MODEL Essay Example | Topics and Well Written Essays - 2000 words

HYBRID MODEL - Essay Example Weibe was referring to institutions and groups like political parties, the press, business organizations and the like that stood between the government and the people and which makes that intimacy between the two not viable. If power is concentrated at the top, the tendency is towards anarchism but if power is allowed to filter down too much to the bottom, anarchy will result (2006). The implication therefore is that democracy is largely a balancing act, one in which the fulcrum of power is located in the middle rather than on any of the opposing sides. As Weibe states, democratic life is institutional life. A correct definition of democracy is vital and sine qua non to the crafting of a blueprint for any model of accountability in public administration upon which forms the skeletal basis of a new administration’s line of governance. In drafting the blueprint of a new hybrid model of public administration, it is important to acknowledge the inescapable existence of institution s that fill the distance between government and the people and the need to strengthen government bureacracies to bridge that distance. As the newly appointed interim president, the basis of my governance will be a model which will incorporate all the points culled from the strongest and effective aspects of the various public administration models which are the Jacksonian Democracy model, the Progressive Reform model, the Reinventing Government model, the New Public Management model, and the New Public service model, which will all bring the desired effects of strengthening the fulcrum of power that lies between and separate the government from the people so as to effectively bring the two together. It is important therefore to discuss the said models to be able to point out and explain the facets which had made these models attractive and successful and adopt them in the new model. The Jacksonian/Machine Politics Model.

Literacy Plan Essay Example for Free

Literacy Plan Essay As I am starting to learn the basics of how to become an effective teacher, I am learning what type of teacher I am and what type of teacher I want to be. Growing up, aspiring to be a teacher, I never thought teachers had to learn how to do some methods I have seen. For example, teachers always knew how to capture the students’ attention again after the children would get off task. I thought this skill came naturally to teachers and I would obtain it with time. On my adventure of this learning process of becoming a teacher, I have learned this skill is something you learn how to do and there are many other skills to learn along the way. These skills and methods come from multiple studies and research done by theorists over the decades. Learning all these theories at first was overwhelming, but over time I got a grasp on the basics of just a few theorists and their theories. There are so many researchers that have put their opinions out in the open for teachers to take into account and work from. There is Vygotsky, Cambourne, Holdaway, Piaget, Skinner, and Dewey just to name a few! After acquiring this basic knowledge of some theories, I have come to realize that there is one theorist’s methods I agree with the most when it comes to teaching literacy. This theorist is Brian Cambourne. Cambourne is an educational anthropologist from Australia who has emphasized his research in literacy learning. He has come up with many conditions pertaining to literacy learning. His theory compliments my beliefs the best, compared to the other theories I have learned about. I believe in having students experience different types of literature. This process allows students to become familiar with different ways of writing, and how to say things in many different ways. This also gives them a chance to figure out what style of language they like best and grasp an idea of what type of literacy come easiest to them. When students understand more types of literacy, it vastly opens up their range of vocabulary that can only benefit them in the future. This condition of students exploring all types of literacy is what Cambourne calls immersion and I find it to be a step that does not seem to be obvious to children. I feel students do not know when they are looking at different types of literacy. I believe in making an effort in explaining what type of material the students are reading from, rather than just handing them something and telling them to read it. This is the reason why I believe demonstration is the next big important process. Demonstration is a very important step in my eyes for literacy learning. Demonstration is modeling literate behaviors, formally and informally (Cambourne). I personally am a visual learner and prefer to have the teacher model what I am going to do before I have to employ it on my own. When a model was not available to me, I would become stressed and overwhelmed with this feeling of not knowing what I am doing. I do not want my students to become frustrated when they are reading and writing; I want them to enjoy it and be excited about it. Therefore, when I become a teacher, I especially want to practice Cambourne’s condition of demonstration by having a whole group lesson in order to formally demonstrate for my students. This can be done while the students are at their desks, but I believe having this process done in a carpet area reminds students that what I, the teacher, am about to say is important to hear. Also, I believe in the saying, â€Å"monkey see, monkey do. † Therefore, I believe a teacher should always speak proper grammar, self-correct, and demonstrate reading strategies at all times in front of the children because they are going to mimic what they hear and see the most by the adults in their lives. After a demonstration is complete, I believe an expectation of what the students should know is built. Cambourne believes this condition of expectation is that the students â€Å"get the message†. I believe that if a teacher’s demonstration was done correctly, the students will know that information and the teacher can expect them to know it. Not only does expectation build, but I believe the responsibility the student has for knowing what him/herself can accomplish grows. This process of being responsible for their own learning, I believe, does not come naturally. I think the teacher must allow these students to take on these responsibilities themselves. For example, if a teacher never lets a student choose their own book, that student will never gain the responsibility of knowing what books are right for him or her or learn how to pick the right kind of book for him or her. Learners will choose what they will explore intellectually as they go through literate behaviors (Cambourne). Once students have become aware of the skills that are being demonstrated to them, I believe the next important step is allowing students time to practice what they have learned. Cambourne calls this condition employment. I am a strong believer in â€Å"practice makes perfect†. I understand that nothing is perfect and there is always room for improvement. So maybe â€Å"practice provides improvement† is a better quote to go by. A learner will never become better at what they are learning if it is not practiced. With students practicing what they have learned, mistakes happen. This condition is what Cambourne calls approximation. I believe it is a good thing to let the learners make mistakes as they are exploring literacy because they will only learn from it! I know that when I become a teacher, I want to stress that making mistakes is okay and will benefit anyone because they will only learn from it. I could even purposely make mistakes in order to model self-correction as well. But learners will only understand their mistake when feedback is given in a timely fashion. Coming to Alverno, I have probably received the most feedback I ever have here compared to the rest of my educational career. I have come to firmly believe that feedback provides new knowledge for learners because it brings another perspective into their personal work. My feelings about feedback correspond with Cambourne’s condition called response. He believes this feedback should come from someone with more knowledge, such as a teacher. I want to make sure I conference with each of my students, individually, in order to look over what they have been working with and provide timely, appropriate feedback. I feel these conferences build a student’s confidence by being told what they are doing well, and they get to understand what kind of mistakes they are making in order to fix them and grow. After reading over Cambourne’s theory, there was nothing I could not agree with. I remember while I was reading it, all I could say was, â€Å"yes, yes, and yes! † I do have to say developing my philosophy about literacy learning was a challenge. I feel like I am still developing my philosophy, but I have a grasp on my basic beliefs for my future teaching career. I know what kind of teacher I would like to be and when reading Cambourne’s theory I could picture myself doing each condition and feeling proud by teaching literacy in such a way.

Indias Foreign Exchange System: An Analysis

Indias Foreign Exchange System: An Analysis CHAPTER-2 LITERATURE REVIEW 2.1 Introduction: It is a fact that the currencies of different countries have different values that is based upon their actual economic and monetary strength. It is from this difference that the genesis of foreign exchange occurs. Foreign exchange can be termed as the act of matching the different values of the goods and services that is involved in the international business transaction process in order to attain the exact value that is to be transferred between the parties of an international trading transaction in monetary terms. Foreign exchange as an activity had started the day civilization and independent principalities got established in the world. But in those days it was a case of exchanging value in the form of transfer of goods and services of identical value that is commonly identified with barter system. Moreover the transactions were done on a one-to-one basis, and the terms and conditions were determined by the parties entering into such transactions. There was no universal system or rule that determined these transactions. In that way foreign exchange and international monetary system is a modern day trend that gained an institutional form in the first half of the twentieth century and has been developing since then. 2.2 Foreign Exchange: According to International Monetary Fund (IMF), Foreign Exchange is defined as different forms of financial instruments like foreign currency notes, deposits held in foreign banks, debt obligations of foreign banks and foreign governments, monetary gold and Special Drawing Rights (SDR) that are resorted to make payments in lieu of business transactions that is done by two business entities or otherwise, of nations that have currencies having different inherent monetary value (www.imf.org). Leading economist Lipsey Richard G.,1993 has mentioned that the foreign exchange transactions are basically a form of negotiable instrument that are resorted to deliver the cost of goods and services that form a part of trading transactions and otherwise, between business and public entities of nations of the global economy. Sarno, Taylor and Frankel, 2003 gives the definition of foreign exchange as denoting the act of purchase and sale of currencies of different economies that is performed over the counter for various purposes that includes international payments and deliverance of cost of various business transactions, where the value is usually measured by tallying the value of the currencies involved in the foreign exchange transaction with that of the value of U.S. Dollar. According to Clark and Ghosh 2004, Foreign Exchange denotes transactions in international currency i.e. currencies of different economies. In such transactions the value of a currency of one country is tallied and exchanged with similar value of the currency of the country in order to exchange the cost of a business transaction or public monetary transfer that is taking place between two entities of these economies. 2.2.1 Foreign Exchange Transactions: Transactions in foreign exchange are done through various types and various modes between different countries of the world. According to information mentioned in the Reuters Financial Training Series, 1999,TOD Transactions, TOM Transactions, Swap Rates, Spot Rates, Forward Rates, Margin Trading and Buy / Sell on Fixed Rates foreign exchange transaction methods are some of the commonly used methods that are widely used by global managers for their foreign exchange transaction activities. 2.2.1.1 TOD Operations: TOD Operations are foreign exchange transaction methods where the trader uses the exchange rate of the day on which the foreign exchange transaction order is to be executed. In other words TOP operations are commonly used in intra-day foreign exchange transactions. As a result they are commonly resorted to by speculators in foreign exchange transactions and those who general speculate on the rates of different foreign exchange markets of the globe. 2.2.1.2 TOM Operations: In this type of transactions the transaction process carried forward to the next day instead of it being an intra-day trading. TOM transactions rate is fixed on the day the transaction is signed, but the rate of exchange is agreed upon to be that of the next day. 2.2.1.3 SPOTTransactions: SPOT Transactions can be compared with TOM transactions because here also the exchange rate is fixed at a value that prevails over the exchange rate of intra-day trading of shares. But SPOT transactions have been separated as a different category because unlike TOM transactions, SPOT transactions contracts are executed on the third day after the signing of agreement between the Bank and the client. 2.2.1.4 Forward Contract: Forward contracts are those exchange rate contracts where the currency conversion exchange rate agreement is decided at a certain rate at a time that is well before the date of execution of the exchange contract. In that way they are similar to TOM transactions. The only differ from them in the fact that these transactions are made for a long term i.e. generally for one year, and the parties involved in making this foreign exchange transaction deposit five percent of the contract value with the bank involved in facilitating the transaction at the time of executing the contract which is then returned to the client after execution of the exchange transaction. The need for depositing this amount is to secure the transaction against any loss due to market fluctuations. 2.2.1.5 SWAP: The greatest advantage of SWAP transactions is that the clients involved in the foreign exchange get prior information about the exchange rate of the currencies that are part of the transaction. In this type of transaction the bank first buys the amount of transaction form the client and resells it to the client after a few days after disclosing the exchange rate of the currencies involved in the transaction process. SWAP transactions are much sought after by traders because here they get to know beforehand the exchange rate of the currencies involved in the transaction process that helps them in avoiding fluctuations in market rate and gives them the advantage of determining the prices of goods, the nature of the currency market notwithstanding. . 2.2.1.6 MarginTrading: The key element of Margin trading is that any trader can opt for SPOT trading round the clock by going through the margin trading mode. The other key element of margin trading is that the traders can make deals with a minimal spread for a huge amount of funds by projecting fraction of the needed amount. In that way it is a unique form of global financial transaction where the threshold value that can be transacted through the margin trading mode is $ 100000 with bigger deals being multiples of $ 100000. But in order to deal in margin trading the trader has to make a security deposit of five recent of the contract value that has to be replenished from time to time in order to maintain the amount from which the probable losses from margin trading transactions are accommodated. 2.2.1.7 Buying/Selling on Fixed Rate Order: This is a mutual agreement between the buyer and seller of foreign exchange. Neither its rate nor its other terms and conditions are based upon actual conditions. Rather the deal is based keeping the mutual profitability of the buyer and seller intact where both of them get their desired amount. 2.3 Global Foreign Exchange Market: According to the table depicting the Triennial Bank Survey of Foreign Exchange and Derivatives Market Activity done by Bank for International Settlements (BIS)2007, as shown below the global foreign exchange market has an average daily turnover of over $ 2 trillion, which is an increase of around forty percent in terms of volumes . This rise in foreign exchange transactions it is observed has been due to rise in the volume of trading in Spot and Forward markets. This is indicative towards increase in volatility of foreign exchange markets around the world. (www.bis.org). Global Foreign Exchange Market Turnover Daily averages in April, (in billions $) Year 1989 1992 1995 1998 2001 2004 Spot Transactions 317 394 494 568 387 621 Outright Forwards 27 58 97 128 131 208 Swaps in Foreign Exchange 190 324 546 734 656 944 Gaps in Reporting (Estimated) 56 44 53 60 26 107 Total Turnover (Traditional) 590 820 1,190 1,490 1,200 1,880 Memo: Turnover (At April 2004 Exchange Rates) 650 840 1,120 1,590 1,380 1,880 (BIS Triennial Central Bank Survey, 2004) As observed by Jacque Laurent L.1996, Studies in foreign exchange point to the fact that the volume involved in foreign exchange transactions in the total markets around the globe has the potential to affect the overall functioning of the global financial system due to the systematic risks that are part and parcel of the foreign exchange transaction system. Most of the transactions occur in the major markets of the world with the London Exchange followed by New York and Tokyo Stock Exchange accounting for over sixty percent of the foreign exchange transactions done around the globe. Among these transactions the largest share is carried out by banks and financial institutions followed by other business transactions i.e. exchange of value for goods and services as well as dealers involved in securities and financial market transactions. According to the studies by Levi Maurice D., 2005, in foreign exchange transactions most of the transactions happen in the spot market in the realm of OTC derivative contracts. This is followed by hedging and forward contracts that are done in large numbers. The central banks of different countries of the world and the financial institutions operating in multiple markets are the main players that operate in the foreign exchange market and provide the risk exchange control mechanism to the players of the exchange market and the system where around $ 3 trillion amount of money is transacted in 300000 exchanges located around the globe. The largest amount of transactions takes place in the spot rate and that too in the liquidity market. The quotation on price in these markets sometimes reaches to around two thousand times in a single day with the maximum quotations being done in Dollar and Deutschemark with the rates fluctuating every two to three minutes with the volume of transaction for a dealer in foreign exchange i.e. both individual and companies going to the range of $ 500 million in normal times. In recent years the derivativ e market is also gaining popularity in OTC dealings with regards to the foreign exchange market. 2.4 Global Foreign Exchange Market Management Risks: According to the researcher Kim S. H., 2005, Foreign exchange transactions are identified by their connection with some financial transactions occurring in some overseas market or markets. But this interconnectivity does not affect the inherent value of the currency of the country which is determined by the economic strength of that country. This means that the inherent value of each currency of the world is different and unequal. So when the need arises to exchange the value of some goods or service between countries engaged in such activity it becomes imperative to exchange the exact value of goods and services. Considering the complexity and volume of such trading and exchange activity occurring in the global market between countries it is but natural that the currencies of individual countries is subject to continual readjustment of value with the currency with which its value has to be exchanged. This gives rise to the importance of foreign exchange transactions as a separate ar ea of study and thereby needs much focus for its understanding (Frenkel , Hommel and Rudolf , 2005). In addition to this it is to be realized that with the growing pace globalization and integration of global economic order there has been a tremendous increase in international business transactions and closer integration of economic systems of countries around the world especially between the members of WTO, that has led to the increase in economic transactions and consequent activity in international foreign currency exchange system (Adams, Mathieson and Schinasi, 1998). Added to this is the fact that the exchange value of currencies in the transactions is not determined by the respective countries but by the interplay of value of the currencies engaged in an international foreign exchange transaction and the overall value of each currency in the transaction prevailing at that time. In fact each country in the global economic order would want to determine the value of its currency to its maximum advantage, which was possible a few years ago in when the countries used to determine the value of their currency according to the existing value of their economy. The individual countries till the early nineties used to follow a policy of total or partial control over the exchange value of their currency in the global market. At the same time there also were a group of countries that followed the policy or system in determining the exchange value of their currency i.e. left it to the interplay of global economic activity where the value was determined by its economic performance. The currencies of countries that provide full or partial amount of control in the international exchange value of its currency are known to follow a Fixed Rate whereas the currencies of countries that allow its currency to seek its inherent value through its performance in the global economic system are termed as following the Floating Rate of foreign exchange conversion mechanism. Though lo gically both the type of mechanism of foreign exchange face the effect of exchange rate fluctuations and consequent volatility in rate it is the currencies having a floating rate that are continually affected by the fluctuations in exchange rate in the global market when in the case of currencies with a fixed rate it is more of a controlled and regulated affair (Chorafas Dimitris N., 1992). 2.5 Foreign Exchange Risks Prevailing in the Global Market: Risks related to the exchange rate of a currency in the global market as has been mentioned, occurs due to the interplay of inherent value of each currency of the respective countries that are part of the global financial mechanism. Risks related to foreign exchange come into picture and are also inevitable in this world marching towards increased interaction due to globalization. The risks will occur due to business interaction and consequent exchange of value for goods and services. According to Kodres LauraE., 1996, the risks related to foreign exchange occur when there is increased interaction between the currency of a country with that of other countries in the international market and that too if the currency has a floating exchange rate. In that case the value of the currency is continually affected by its business and financial performance. This relation with other currencies in the market affects it during the time when the need arises to exchange it with another currency for settlement of financial transaction in some business or financial purposes and gives rise to various types of risks. The prominent risks associated during this situation are Herstatt Risk, and Liquidity Risk. 2.5.1 Herstatt Risk: Herstatt risk is a risk that is named after a German Bank that got liquidated by the German Government in the seventies of the last century and made to return all; the claims accruing to its customers. This is because its creditworthiness was affected and it could not pay the settlement claims to its customers and also on behalf of its customers to their clients. It is basically connected to the time aspect of foreign exchange value claim settlements in which the foreign exchange transactions do not get realized as the bank loses its ability to honour the transaction in the intervening period due to some causes. In the particular case the German bank failed to honour the financial settlement claims of its clients to their counter parties that were to be paid in values of U.S Dollars. The main issues that arose were regarding quantifying the amount to be delivered and the time of the transaction process due to the two countries financial systems being located and working according to different or separate time zones. This case has established a phenomenon in foreign exchange market where there may erupt situations in which the working hours of banks located in different time zones may never match with each other leading to foreign exchange settlement transactions getting affected during the mismatch of the two banks closing and opening time. In fact the Alsopp Report that studied this phenomenon in detail said that though the foreign exchange transactions are made in pen and paper on a single day the actual transfer of value takes place within three to four days. And with the exchange value of currencies operating in the international market always remaining in a state of flux they either get jacked up or devalued. In either case it affects the clause of transactions that was decided on an intra-day rate, as the value of both the currencies in the international market has changed during these days. 2.5.2 Risks related to Liquidity: There can crop up different problems related to the banking systems operations and dynamics i.e. in both technical and management systems as well as inability in terms of volume of available liquidity strength or in mismatch in tallying of time etc; that can affect the capacity of banks to honour foreign exchange transactions in terms of transfer of liquidity. These types of risks are being commonly witnessed in newly emerging economies that are being unable to cope with the sudden surge in volume of global business transactions thereby leading to exchange rate settlement and payment delays, outstanding payments and dishonouring of financial commitments in the exchange rate transaction market. 2.5.3 Financial Repercussions: According to the Studies in foreign exchange related risks by Dumas and Solnik, 1995 aver that risk related to transactions in foreign exchange have increased with globalization and the rise of global economic integration process with the countries getting affected in relation to the volume of their transactions in the global financial and business marketplace. This is because the market is now more oriented towards market value driven convertibility of currencies that is influenced by the global financial movements and transactions, and any independent transaction especially of transnational and multinational companies; will automatically affect other transactions happening in the global financial marketplace (Klopfenstein G.,1997). However, according to another study by Gallati Reto R., 2003, these multinational and transnational companies are simultaneously being affected by the fluctuations in exchange rate of different currencies of the global market that is exposing their business operations in different global markets to exchange rate related risks especially due to difference in Spot and Forward rates and the inevitable fluctuations (Choi , 2003) that give rise to foreign exchange settlement related problems. 2.5.4 Remedies to Foreign Exchange Settlement Risks: As there risks that have cropped up in foreign exchange transactions due to increase in volume and frequency of transactions mainly as a result of globalization so, also there have come up remedies to minimize the risk related to adverse conditions in foreign exchange transactions. The Bank for International Settlements (BIS) in one of its studies in 1999 has said that settlement of claims is the most predominant risk that is related to foreign exchange transactions, especially the speed with which these transactions are materialized and the roadblocks that they may face in the process due to tremendous increase in volume of foreign exchange transactions that cannot be cleared in expected times. The solution to these risks according to the study is to simultaneously clear transactions on either side i.e. for both the parties side so that they simultaneously give and receive payments at the agreed rate of exchange. This would solve the problem of extended time of actual payment when the rate of exchange fluctuates, thereby creating problems for both the parties. This arrangement is related to deals being processed simultaneously, which requires the concurrence and common cause of both the parties. This is because the party that is expecting a hike in value of it s currency may not agree to such a proposal. In that case there should be some law or arrangement that would make it mandatory for both the parties to settle their intra-day payments on that day itself so that there is no scope left for speculation by them. According to the study, such arrangements have been made in USA and Europe where systems like Fedwire and Trans- European Automated Real-Time Gross Settlement Express Transfer (TARGET) have been established. Fedwire facilitates payments in foreign exchange transactions under the mode of Real Time Gross Settlements (RTGS)and TARGET facilitates intra-day transfer of foreign exchange between parties of member countries of Europe on the same day itself. But, for simultaneous release of funds by both the parties and the intra-day settlement of claims to succeed it is imperative that the member countries of the global economic system should come together have concurrence on these issues. This is because all said and done the foreign exchange transaction related rules and laws are still governed by the respective countries. And most of these countries are reluctant to make any headway in linking their currency system to the global currency system for speedy disposal of foreign exchange transactions for fear that such a move would expose their currency end financial system to the baneful effects of risks and volatility of global foreign exchange system (Hagelin and Pramborg, 2004). At the level of international trading corporations there has been initiated some steps whereby they have formed a private arrangement known as Group of Twenty. They are a group of twenty internationally acclaimed global clearing banks who have formed an system called the Global Clearing Bank that acts as a connection between the payment systems of different countries and verifies international foreign exchange transactions in order to simultaneously satisfy both the parties regarding authenticity of the process of transaction. The thing is that this system puts a high amount of strain on the financial and foreign exchange system as well as reserves of individual countries along with requiring them to bring about some amount of commonality between the financial rules and regulations of individual countries which is easier said than done. All the same the establishment of Bilateral Netting System and Multilateral Netting Systems as well as of Exchange Clearing House (ECHO) are trying t o facilitate foreign exchange transactions and minimize the inherent risks involved (McDonough ,1996). 2.6 Indian Foreign Exchange System: 2.6.1 Historical Background: The historical background of foreign exchange system in India was a saga of excess control and monitoring with even minor transactions being made to undergo the rigorous scrutiny of concerned government authorities to avoid any risks associated with such transactions and save the scarce foreign exchange reserves from being frittered away in some transactions considered unimportant or anti-national by the government. The Foreign Exchange Regulation Act (FERA) that was enacted in 1947 and made more stringent in 1973 was the embodiment of the prevailing sentiment of the governments of those days, which was to completely regulate and control all the foreign exchange transactions and protect the foreign currency reserves. (Mehta, 1985) All these changed in the nineties of the last century with the opening up of Indian economy in 1991 in keeping with the recommendations of the High Level Committee on Balance of Payments set up under the chairmanship of Dr C. Rangarajan by the Ministry of Finance, Government of India and subsequent entry of India into World Trade Organization (WTO) in 1994. This was preceded by the liberating of current account transactions and establishing full convertibility of current account transactions in 1993. In 1994 also the Government of India accepted Article VIII of Agreement of the International Monetary Fund that established the system of current account convertibility and the exchange value of rupee came to be determined according to the market rates with only the convertibility of capital account being under the control of the government (Krueger,2002) as the Tarapore Committee on Capital Account Convertibility of 1997 (Panagariya A., 2008) suggested the government to keep adequate sa feguards before allowing the convertibility of capital account to be determined according to the market forces as there was need to consolidate the financial system and have an accepted inflation target before such a venture. The Tarapore Committee also suggested that the legal framework governing the foreign exchange transaction system in India also needs to be modernized before going for total convertibility of the capital account due to which the Government repealed the FERA Act of 1973 and promulgated the Foreign Exchange Management Act (FEMA) in 2000. This new act did away with the system of regulation and control and established a system of facilitation and management of foreign exchange transactions thereby promoting all the activities related to foreign exchange transactions. The most important thing that was done by FEMA was to recognize violations or mistakes in foreign exchange transactions as a civil offence instead of a criminal offence as was done by FERA. FEMA also shifted the responsibility of proving the violation or mistake in foreign exchange transaction and related rules from the prosecutor to the prosecuted. And if the prosecuted was proved guilty he or she was to pay only monetary fine or compensation instead of being jailed as was the earlier provision under FERA. FEMA also simplified many of the rules and notified specific time frames for delivering judgments related to violations of foreign exchange rules and regulations and provide rules for establishing special tribunals and forums to deal with such cases. Th e compounding rules were also made less stringent and all matters related to compounding rules were notified to be dealt by Reserve Bank of India (RBI) instead of the previously assigned Enforcement Directorate. RBI was made the designated Compounding Authority in all related matters. Only the cases involving hawala transactions were left from its purview As per Mecklal and Chand

Suppleness in Physical Education Essay -- Papers

Suppleness in Physical Education The definition of flexibility, suppleness and mobility is the range of movement possible round a joint and this depends on the amount of stretch allowed by the ligaments, joints, tendons and muscles. Flexibility is an important component of physical fitness for all athletes as increasing your flexibility aids performance and helps to avoid unnecessary injury. It is impossible to have the same degree of flexibility around all joints as the joint structure itself limits flexibility, for example a lot of movement is possible at the shoulder joint because it is a ball and socket joint, but movement at the hinge joint of the knee is more limited. Increasing body temperature helps to improve flexibility, which is a good reason why an athlete should always warm up. Our range of movement deteriorates as we get older, due to shortening of the connective tissue and general joint degeneration caused by wear and tear. Why should a netballer do mobility exercises? The objective of mobility training is to improve the range of stretch of the antagonistic muscles. Mobility plays an important part in the preparation of netballers by developing a range of movement to allow technical development and assisting in the prevention of injury. All athletes require a basic level of general all round mobility to allow them to benefit from other forms of training. In addition, netball players will need to develop specific mobility for those joint actions involved in the techniques of their game. Netballers do not have the option to dribble the ball; therefore netball is very much a passing game. Throwing is one... ...ying netball as players have to repeatedly bend down to gather low passes or rolling balls. As I play the position of centre, a high level of stamina is vital as the centre is the player who links the defence to the attack. The centre is designated to a large area on the court so a lot of movement is required. Netball consists of the players continuously passing the ball, so endurance in the biceps brachii and triceps trachii is essential which enables players to pass the ball accurately with speed and power throughout the game. A good level of stamina will ensure that fatigue will not affect your performance. Lack of stamina is highlighted in the last quarter of many matches in which a player complains of â€Å"jelly legs.† This is usually accompanied by decreased performance in skills requiring muscular strength or power.