Saturday, June 27, 2020

The background and principles related to Islamic Banking - Free Essay Example

Islamic principles have stated clearly that all business transactions have to follow the fairness behavior stated in Islamic law where no party should gain any sort of unequal treatment thus when an investment occurs between two parties both the parties should divide the profit or loss according to the business status (Schon; 2009). Islamic principles related to monetary transactions have stated clearly that no harm or use of harmful products is allowed to be conducted under the Islamic business (Schon; 2009). Thus; Gambling, prostitution and similar projects should be banned from using Islamic money as a tool of transactions (Schon; 2009). 2.1 Principles behind Islamic Banking Two basic principles behind Islamic banking are the sharing of profit and loss (PLS), significantly, the prohibition of collection and payment of interest. In fact, collecting interest is not permitted under Islamic law. Islamic banking refers to a system of banking or banking activities that is consistent with Islamic law and principles and guided by Islamic economics (Sipra, 2002). 2.3 Islamic Banking around the World Present Islamic finance has exist globally since the 1970.Currently, Islamic finance represent small but growing fragment of the global finance industry (Ariss 2010). Estimates diverge of the total size of the assets held globally under Islamic finance, ranging upwards from 800 billion and with growth rates of 10% to 15% annually over the past ten years. Indeed, United Kingdom has announced initiations to reserve London as a main player in the Islamic finance industry (Kerr, 2007); the global market for Islamic bonds known as Sukuk us estimated to be $70 billion currently and is projected to reach $100 billion by 2010.Global issuance of Islamic bonds has increased more than five-fold from 2004 to 2007. Assets of the top 500 Islamic banks expanded 28.6% to $822 billion at year-end 2009 Islamic industry size is estimated to be at 400 billion USD with growth of 15% per annum. Demand for Islamic banking products and service is growing, Islamic banking has developed into a full fledg e system, today Islamic banks are working in 75 countries beside that there are many financial institutions from the conventional banking systems have lunched Islamic banking windows working side by side with Islamic banks to overcome the growing market demand on Islamic products and services. In Malaysia and Bahrain Islamic banks are working at parallel with conventional banks participating in the overall money transacted (Scribd; 2010). In some countries, such as Iran, Sudan and Pakistan, Islamic bank are the only mainstream financial institutions. In others, they exist within conjunction with conventional banking. The Arab Gulf region and Southeast Asia, led by Malaysia, traditionally have been the major centers for Islamic banking. In recent years Islamic banking has expanded into Africa, particular in Sudan (Tahir 2007). Sudan has full financial system running at a national level by Islamic finance and banking principles, Iran also have switched to fully working Islamic b anking system in spite of the conceptual interpretation differences.UK, Euro countries and many other countries have initiated Islamic banking participations by allowing Islamic banks to start doing business (Tahir 2007). Chart 2.1 is showing that Iran is the higher ranked in Islamic banking assts followed by Saudi Arabia and Malaysia. Indeed, Bahrain has 10 Islamic banks compare with 19 banks in Sudan. In fact, Iran, Sudan and Pakistan fully operate as a full main stream Islamic banking system. Chart 2.1 Break Down of the Worlds 100 Islamic Banks Source: Asian Banker Research Bahrain have a large concentration of Islamic banking in the Middle East where it hosts 26 institutions offering different products and services including commercial banking, offshore banking, investment banking and fund management , Bahrain also purse a dual banking system where conventional and Islamic banking are treated equally by the Bahrain Monetary Agency , Bahrain also hosts the newly creat ed liquidity management center and the international Islamic financial market , to coordinate the operation of Islamic banking around the world. Malaysia has a comprehensive Islamic banking industry where conventional and Islamic banks are working at a competitive environment; the conventional banks are allowed to open Islamic windows. The share of Islamic banking operation in Malaysia has grown from a nil to 8 percent in 2003 where the government in Malaysia has a plan to enhance that to 20 percent by 2011. There is a growing interest for Islamic finance and a business opportunity for lenders in the United States where Islamic banking is largely exists in the personal home mortgages (Tahir 2007). Chart 2.2 explains that the issuance of Sukuk financial records for about 10% of the comprehensive Islamic finance industry, subsequent to fast growth over the past decade. Cumulative total issues topped the figurative mark of $100 billion at year-end 2009, compared with less than $500 million at year-end 2001. The market is slowly reviving after a major slowdown in 2008. Sukuk issues totaling $23.3 billion in 2009 clearly outpaced the $14.9 billion registered in 2008 and regained some ground against record issues of $34.3 billion in 2007. Chart 2.2 Sukuk Issuance in billions USD from 2001 to 2009 Source : (Poors 2010) 2.6 Definition of Corporate Governance The agency problem arises because of the relationship between the owners and the management. The scandal in corporate governance made the scholars defining corporate governance based on the problem solving perspective or corporate affairs perspective. In addition, most definition states that internal governance mechanism involves board of directors and ownership structure while external involves taking over market and legal system. Researchers have defined corporate governance in a variety of ways, and the most widely cited definitions follow. A definition by the finance committee on corporate governance in Malaysia in the report on corporate governance (2002) stated that: Corporate governance is the process and structure used to direct and manage the business and affairs of the company towards enhancing business prosperity and corporate accountability with the ultimate objective of realizing long term shareholder value, whilst taking account the interests of other stakeholders. This indicates that corporate governance is not only applied to the shareholders but the other stakeholders as well. 2.7 Corporate Governance System around the World 2.7.1 Anglo-Saxon Corporate Governance System The Anglo -Saxon system is taking by the main source of firms finance. Therefore, the main concentration of Anglo-Saxon corporate governance is the shareholder interest where the principle is applied by given the right to each shareholder to vote pursuant to that the law found to be protecting the shareholder against the management where a shareholder can be found misusing the company money which might affect the shareholder wealth. The composition of the Anglo-Saxon corporate governance system is one board of directors constituting of executives and non-executives. The executive directors are managers of the corporations; whereas the non-executive directors are representing the shareholders to monitor the manager in their day to day business. Both executive and non-executives directors members are appointed and dismissed by general assembly of shareholders.(Denis and McConnell 2003). 2.7.2 Germanic Corporate Governance System The Germanic corporate governance system deals with the firm as an autonomous economic entity which may benefit to shareholders and stakeholders in the firm. Countries which implement this system use two board systems consisting of a supervisory board and managing board. Supervisory board main duties are to appoint the managing dismiss managing board and to evaluate management performance. Germanic corporate governance system considers the bank as the main source of finance. Therefore, the bank has a significant voting right in shareholders shareholders assembly and also represents shareholders interest in a supervisory board (Odenius; 2008) . 2.7.3 Latin Corporate Governance System The Latin corporate governance system is considered more flexible compared with previous Systems. In a context of board of directors, Latin corporations have an option to select either one board as Anglo-Saxon system or two boards as in Germanic System, shareholders have more influence in the Latin system i.e. in French legislation, shareholders can remove a director, which overrule on a share one vote system.(Aguilera and Ermoli 2005) 2.7.4 Japanese Corporate Governance System The board of directors in Japanese system comprises a board of directors, an office of representive directors and an office of auditors. The president is the rarely the chair man of the board. Banks have high influence on the decision making of the management in the Japanese system .(Allen; and Zhao; 2007) 2.7.5 Islamic Corporate Governance. The corporate governance in Islamic banking is based on Islamic law and principles. The governance of the banks is subject to acceptance of the principles and standard of Shariah. Islamic corporate governance tension on all the parties involved in the organization to practice Islamic law principles. Since Islamic banks in many ways are similar to the conventional banks; the existence of a proper frame work of corporate governance is a matter of dire necessity (Pellegrini 2006). However, in accordance with the fact that Islamic banking and conventional banking are different because Islamic banking activities are underlined by Islamic law its not appropriate for Islamic banking to divert from Islamic practices .Thus, the responsibility is on Islamic banks to ensure that all activities are subject to Shariah law acceptance (Pellegrini 2006). In terms of guidelines and principles constructed in accordance with Islamic law there are many standardizing agencies; theses agencies inc lude the Islamic financial service board (IFSB), the accounting and auditing organization for Islamic financial institutions (AAOIFI), and International Islamic rating agency (IIRA); are of the important bodies concerned with regulations enhancing the supervision in Islamic financial institutions (Grais and Pellegrini 2006; Pellegrini 2006; Wafik Grais 2007). Researchers have conceptually explained the differences attributed to corporate governance principles in Islamic law and corporate governance principles in non Islamic law, the proposed considerations mostly concentrated on Shariah supervisions, financing modes and risk managements. In addition, Islamic finance scholars have supported the explanation of theoretical base of Islamic banking and finance on stakeholder theory considering that any party who affect of get affected by the activities conducted in the Islamic financial institution is a stack holder of the Islamic financial institution (BAHJATT; 1997; Chapera 2004; Ab u-Tapanjeh 2009). Table 1.1 focuses on the differences between the organization for economic cooperation and developments principles and Islamic principles where sole authority is to Shariah, society is a stakeholder and the sense of equality between different parties involved in the corporation process. Islamic perspective on corporate governance, to some extent, resembles to the stakeholder model. Indeed, it provides a more solid justification regarding who can qualify as a stakeholder and what are the rights and responsibilities that both firms and their various stakeholders may assume. Table 1.1 Corporate Governance from Islamic Prospective OECD Principles and Annotation Islamic Principles Insuring the basis for an effective corporate governance framework Promotion of transparent and efficient markets with rule of law and division of responsibilities Promotion of business within ethical framework of Shariah,Believes in profit and loss,Primacy of Justice and social welfare withsocial and spiritual obligations,Prohibition of interest The rights of shareholders and key ownership functions Basic shareholder rights, Participation in Decision-making at the general meetings, Structures and arrangements markets for corporate control, Ownership rights by all shareholders including institutional shareholders, Consultative process between shareholders and institutional shareholders Property as trust from God, Sole Authority is God, Society as stakeholders, Accountability not only to stakeholders but also to God, the ultimate owner The equitable treatment of shareholders Protection to minority and foreign shareholders Just and fairness of value The role of stakeholders in corporate governance In creating wealth, jobs and sustainability of financially sound Enterprises Islamic accountability to Falahand social welfare orientation, Haram/Halaldichotomy in transaction, Social individual welfare from both spiritual and material Disclosure and transparency Matters regarding corporation, Financial situation, Performance, ownership and Governance Accountability with Shariahcompliance, Socio-economic objectives related to firms control and accountability to all its stakeholders, Justice, equality, truthfulness transparency, Wider accountability with written as well as oral disclosure The responsibilities of the board Strategic guidance, Monitoring of management, Accountability to company and stakeholders Accountability not only to company or board or stakeholders but also to Allah the ultimate authority who leads to welfare and success, Holistic and integrative guidance, Negotiation and co-operation, Consultation and consensus seeking for each decision with related stakeholders Source : (OECD 1999; Abu-Tapanjeh 2009) Unlike the known corporate governance systems where the solving of agency conflict is one of the important issues related to the governance mechanisms. Islamic corporate governance laid the liaison and activities of the bank to Shariah supervisory board and main Shariah board at the central bank of the country. Thus, each party involved in the transaction and activities of the bank is stakeholder. The Islamic finance activities have the obligation towards employees, community and related parties of organization. The staff in Islamic bank should act according to Islamic principles and adhere to the teaching of Islam. Accounting standards in the Islamic bank should consider that Islamic banking is interest free banking(M; 2007). Shariah supervisory board (SSB) has the authority to reject any of the projects which is not in accordance with their expectation. Indeed, the process of the Shariah reviewing the activities is one of the fundamentals of Islamic banking transaction. The Shariah reviewing process includes risk management, auditing committee and Shariah research functions (Hamzah 2009). . Figure 2.1 is explaining the process of The Shariah supervisory board where Shariah board receives the new projects and products before they are presented to the customers in order to assure the Shariah compliance. Shariah board process will supervise bank activities and processes in order to assure the Shariah compliance. Shariah supervisory board has the responsibility to enhance the Islamic banking knowledge among the employees in the Islamic banks. Figure 2.1 Shariah Board Process Source : (BNM 1 October 2005) The board of directors is committed to the decisions made by the Shariah supervisory board irrespective of whether the majority approve or disapprove. The meeting of the board usually is held periodically or whenever the situation require (DIB 2010). 2.8 Principles of Islamic Corporate Governance The Islamic financial service board (IFSB) is an international guidelines and regulation organization that concentrate on improving the consistency and firmness of the Islamic financial services institutions by issuing global standards and principles for the industry, mostly distinct to include institutions which deal under Islamic law (IFSB 2006). The principles is concerned about enhancing the process of the Islamic banks under a proper mechanism related to Shariah law which highlight and explain what are the duties and responsibilities related to stakeholder in the Islamic bank. The principles detail the process and structure of governance in the Islamic to achieve the optimum smooth of return to stakeholders (IFSB 2006). As per the principles guidelines its of importance to meet to principles because that will help providing a typical disclosure particularly financial statements for internal audit which deliver a great responsibility to the stakeholders, indeed it also en dorses the Basel I, II and the principles of corporate governance in banks, so as to ensure the safety of Islamic banking and to provide protection for the assets and rights of customers of Islamic banks encouraging commitment to the decisions of (IFSB) .The sitting standards by IFSB for Islamic financial institutions involve the discussion on the mechanism to balance between different stakeholders in the organization including the duties and responsibilities, the board of directors and financial reporting requirements (IFSB 2006). Table 2.1 presents the main principles for Islamic financial institutions including Islamic banks which must adhere to Islamic law including governance mechanisms, right of investment account holders, and compliance with Islamic Shariah rules and the transparency of account reporting. Table 2.1 the Guiding Principles of Islamic Financial Service Board IFSB Principle 1.1: IIFS shall establish a comprehensive governance policy framework which sets out the strategic roles and functions of each organ of governance and mechanisms for balancing the IIFSs accountabilities to various stakeholders. Principle 1.2: IIFS shall ensure that the reporting of their financial and non-financial information meets the requirements of internationally recognized accounting standards which are in compliance with Shariahrules and principles and are applicable to the Islamic financial services industry as recognized by the supervisory authorities of the country. Principle 2.1: IIFS shall acknowledge IAHs right to monitor the performance of their investments and the associated risks, and put into place adequate means to ensure that these rights are observed and exercised. Principle 2.2: IIFS shall adopt a sound investment strategy which is appropriately aligned to the risk and return expectations of IAH (bearing in mind the distinction between restricted and unrestricted IAH), and be transparent in smoothing any returns. Principle 3.1: I IFS shall have in place an appropriate mechanism for obtaining rulings from Shariahscholars, applying Fatwaand monitoring Shariahcompliance in all aspects of their products, operations and activities. Principle 3.2: IIFS shall comply with the Shariahrules and principles as expressed in the rulings of the IIFSs Shariahscholars. The IIFS shall make these rulings available to the public. Principle 4: IIFS shall make adequate and timely disclosure to IAH and the public of material and relevant information on the investment accounts that they manage. Source: International Islamic Finance Services Board (IFSB 2006) 2.8.1 Ownership Islamic banks guiding principles permit the bank to constitute the capital from original and foreign resources, in respect to the rate of deposit and place of deposit of the capital fund , it will be decided by the proficient authority, Islamic bank will constitute a reserve fund and every year an specific amount of profit will be kept in this fund from the net income after paying of tax and Zakat at the time assessing the minimum asset Islamic bank will take into consideration the balance of Savings Account, Investment Account, other deposit liabilities including the cash in hand other liabilities as directed by the proficient authority (Solà © 2008). 2.8.2 Board Size The principles of Islamic banking enhances the implementations of Basel I, II and III In explaining the board size requirement in Islamic banks, the governance code recommended that the impact of size should be examined on the board effectiveness. However there is no specified numbers of the board recommended. It is in line with the above-mentioned arguments that a board should not be too big or too small. However, the Islamic banks should allow a board with active participation and has the ability to make effective decisions and performing their functions (Solà © 2008). 2.8.3 Qualifications As part of the governance enhancement effort, IIFSB in its listing requirements requires all directors of Islamic banks to undertake continuous training and education improvement process. It aims at influencing corporate thinking on governance issues among the directors (Kasri 2008). 2.8.4 Disclosure As the Islamic financial services industry increases its activities in the global financial scaffold, IIFS requires the Islamic banks to abide by globally recognized reporting standards. IIFS is therefore ensuring that the reporting of financial and non-financial information is in harmony with worldwide recognized accounting standards, particularly those applicable to Islamic financial services. Islamic bank will appoint an auditor every year, which is to be approved by the proficient authority (Solà © 2008). The main principles enhancing the world banking system are the Basel principles. Basel is a committee focusing on formulating standards for banks especially those guidelines which help to maintain the risk level and safety against financial crisis. The Basel committees standards have been going through wide improvement from time to another. Basel I in 1998 required the countries to have a minimal capital requirement for banks; most of the focus was on credit risk. Basel I instructed the banks with international presence to hold capital equal to 8 % of the risk weighted assets. Following that, the Basel II introduced in 2004 was encouraging all countries to adopt the regulations proposed on their banking system. Indeed, Basel II was the creation dilemma of banking laws and regulations against problems that may arise particularly in capital management and risk management. Then, Basel III was a responding improvement to financial crisis where the committee instructed the banks to hold apportion of its capital to preserve against abnormal loss (Solà © 2008). Critically, Islamic banks were already enhancing the principles of Basel III which is been translated in their financial status after the crisis as they have not been affected by crisis same as the conventional banks.(Networking 2010) Abu-Tapanjeh, A. M. (2009). Corporate governance from the Islamic perspective: A comparative analysis with OECD principles. Critical Perspectives on Accounting 2 0(5): 556-567. Aguilera , R. V. and I. Ermoli (2005). A Comparative Analysis of Corporate Governance Systems in Latin America: Argentina, Brazil, Chile, Colombia and Venezuela. SSRN eLibrary. Allen;, F. and M. Zhao; (2007) The Corporate Governance Model of Japan: Shareholders are not Rulers. Ariss, R. T. (2010). Competitive Conditions in Islamic and Conventional Banking: A Global Perspective. Review of Financial Economics 19: 101-108. BAHJATT;, M. F. (1997). TOWARDS STANDARDS FOR RELIGIOUS AUDIT IN ISLAMIC BANKS. Review of Islamic Economics, 3(2): 39. BNM (1 October 2005). Guidelines on Corporate Governance for Licensed Institutions. Chapera, M. U. (2004). Stackholder Model of Governance in Islamic Economic System. Islamic Economic Studies. 11(2). Denis, D. K. and J. J. McConnell (2003). International Corporate Governance. SSRN eLibrary. Grais, W. and M. Pellegrini (2006). Corporate Governance and Shariah Compliance in Institutions Offering Islamic Financial Services. SSRN eLibrary. Hamzah, H. (2009). The Control of Islamic Bank Activity by the Shariah Board : Effectiveness and Limits. Economic and Quantitative method Tunis, University of Manouba IFSB (2006) Guding Princibiles on Corporate Governance for Instituation Offering Only Islamic Financial Services (Exculding Islamic Finance Insurance and Mutual fund) Kasri, R. A. (2008). Corporate Governance: Conventional vs. Islamic Perspective. SSRN eLibrary. M;, A. E. W. (2007) A unified voice : The Role of Shariah Advisery Boards in Islamic Finance. Networking, I. b. (2010) Basel III in support of the Islamic banking principal Odenius;, J. (2008) Germanys Corporate Governance Reforms: Has the System Become Flexible Enough? OECD (1999) OECD Principles of Corporate Governance. Pellegrini, W. G. a. M. (2006). Corporate Governance in instiuations offering Islamic financial Services : Issues and Options. Islamic economic ,Banking and Finance Poors, S. a. (2010). Islam ic Finance Outlook 2010. Schon;, N. (2009). Islamic banking and finance, Spriamus Press Ltd. Scribd; (2010) Islamic Banking vs Conventional Banking. Islamic Banking vs Conventional Banking Solà ©, J. (2008) Introducing Islamic Banks into Conventional Banking Systems. Tahir, S. (2007). Islamic Theory and Practice Survey of Literature Jouranl of Economic Corporation 28(1): 1-72. Wafik Grais , M. P. (2007). Corporate Governance and Shariah Compliance in institutions offering Islamic Financial Services. Wold Bank Research Working Papers 4054.

Monday, May 25, 2020

The Effects Of Climate Change On Development And The...

Human survival is dependent on myriad things, the first of which that come to mind are food, water and shelter. As the world has developed, the abundance of each of these has increased dramatically, especially in the developed world. However, along with this growing population and resource web has come a growing understanding of disease, and its impacts on the more-developed and less-developed parts of the world. Another effect of growing population is the concerning truth of climate change: changes in climate not only alter the environment, but can alter the range and distribution of diseases. Moreover, human population leads inherently to social networks and systems that can have significant impact on development and the spread of disease. These impacts can manifest as civil strife, or simply the unavoidable reality of proximity within a community. Lea Berrang-Ford, an Associate Professor at McGill University, has conducted numerous studies over the past approximately fifteen years that blend together the complex aspects of disease spread in general, choosing to focus mostly on African trypanosomiasis or â€Å"sleeping sickness†, and how climatic and social pressures affect the spread of disease. Her work also extends beyond her own research, into her classroom, and through her students, out into the world. Berrang-Ford earned her first degree, a BS in Environmental Geography, from the University of Guleph in 2000. She then went on to earn an MS in Environmental Change andShow MoreRelatedThe Effects Of Climate Change On The Earth1358 Words   |  6 PagesEurope. Climate change is classed as any alteration in global weather patterns over a period of time. However the climate change the earth is currently experiencing is far from anything ever experienced before and its 99% certain that it has been caused by human industrialisation. 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Monday, May 18, 2020

Essay Writing - 7014 Words

Important things to look out for in narrative essay writing I am assuming that the student is able to construct basic sentence and grammar structure (past amp; present tense etc.). If the student is unable to do so, he/she is in no condition to attempt essay writing. Please sign the student for basic language/ grammar classes instead. There is a limit to how much advice I can offer via text. So I will just offer two key points. 1. ESSAY FLOW 2. CHARACTERS’ EMOTIONS / FEELINGS * 1. Essay Flow Essay flow means no break in the story plot. A disjointed narrative threatens a fiction essay, and as a side note, absolutely fatal in GP essays (Immediate failure). Common e.g (pri sch level): Annie was walking back home from school.†¦show more content†¦Unfortunately, that’s half the battle won. The way you teach is crucial. The tricks are constant repetition for internalization and essay question standardization (there are other methods too, but it will probably kill me to list all). That sounds highly loaded, but I assure you it is pretty simple. * Constant repetition * Basically, by the tenth lesson, you should be repeating concepts taught for the past nine lessons before embarking on the tenth lesson plan. Same applies to vocabulary, with an ever lengthening vocab spelling list for every lesson. * Essay question standardization * During the initial months, ensure that your child practices with only a couple of essay questions. If your child chooses a picture composition of the cat stuck in the tree and an open-ended essay on a surprise birthday party, do ensure that your child only practices those essay questions repeatedly during the initial months. This is so that your child has a basis for comparison (IMPT). It is essentially a before and after comparison. Simple example: 1st essay lesson: Allowing your child to write her first essay Annie was walking back home from school. 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Then, out of nowhere, I realize that I am only allowed two pages outRead More The Skill of Writing Essay677 Words   |  3 PagesSkill of Writing Writing and reading are two essential skills that we need to have in order to succeed in any field of study that we have chosen. Without these two we would not be here, wouldn’t be writing right now and would be considered the lowest class of our society. There are different aspects of writing that each of us may, or may not, excel at. Some of us are creative enough to write short stories or even novels on fiction while others, like me, are better at writing essays. To accomplishRead MoreHome And Writing Resources And Strategies For Essay Writing1241 Words   |  5 Pagesto main content Writing Project Writing Program NEWSTUTORINGRESOURCESBLOGSTAFF HOME / WRITING RESOURCES / STRATEGIES FOR ESSAY WRITING / Essay Structure Writing an academic essay means fashioning a coherent set of ideas into an argument. Because essays are essentially linear—they offer one idea at a time—they must present their ideas in the order that makes most sense to a reader. Successfully structuring an essay means attending to a reader s logic. The focus of such an essay predicts its structureRead More Writing the Academic Essay1531 Words   |  7 PagesWriting the Academic Essay For many high school students, the academic essay is an unforgiving monster that terrorizes their campus, a nightmarish beast that can rip the heart out of G.P.A.s and dash all hopes for college admission. Yet, others tame this friend with ease, bending its cruel will to theirs as if it was nothing, as if they possessed a secret weapon. Well, guess what? They do! Successful essayists succeed because they are armed with the exact knowledge of what an essay isRead MoreEssay on The Audience and Writing1047 Words   |  5 PagesThe Audience and Writing Audience. Just one word yet it stirs frighteningly confusing images of perplexing thoughts in my mind. The word alone is strange, but when put in context of an essay it leaves me baffled and frustrated[d1] . The questions; â€Å"What is Audience?† â€Å"Why do I need it?† and, â€Å"What purpose does it serve?† are important to my finally some day understanding the concept of Audience, but at this point I can’t answer them fully[d2] . I can grasp the understanding of all

Thursday, May 14, 2020

The Contributions of Isaac Newton to The Scientific...

The Scientific Revolution was a period when new scientific ideas where introduced into society. The Scientific Revolution laid down a foundation in which modern science is heavily based on. An influential figure of the Scientific Revolution is Sir Isaac Newton. He made many advancements in the field of science and mathematics, he discovered Gravity, developed the three basic laws of motion, and co-development of Calculus. Isaac Newton did several thing that positively affected the scientific community during the Scientific Revolution and still affect society today, he recognized the three laws of motion, discovered gravity, and co-developed calculus. The scientific revolution was a time of inquisition, discovery, and†¦show more content†¦One of the most well known is, â€Å"To every action there is always an opposed and equal reaction†.2 These three basic theories are the most widely known theories that Newton proposed. The development of these theories founded w hat is now modern physics. These theories also gained Newton attention and credibility in the scientific community, which further helped spread his accomplishments. The discovery of these laws, laid down a basic foundation for the physics of motion. Newtons three laws of gravity changed the way in which the world was perceived, because of their accuracy in describing many unexplained phenomenons.3 They explained what happens as a result of different variables, but most importantly, they explained why and how these actions happen. Like many of Isaac Newtons ideas and theories, the three laws of motion had a profound impact on the scientific community. The three laws of motions provided an explanation for almost everything in macro physics. Macro Physics is the branch of physics that deals with physical objects large enough to be observed and treated directly.4 This allowed for many new advancements in physics because the foundation had been build for others to develop upon. I saac Newton published these findings in his revolutionary book â€Å"The Principa†. The Principa was revolutionary book because it organized the bulk of his life’s work, More importantly theShow MoreRelatedSir Isaac Newton And The Scientific Revolution967 Words   |  4 Pagesindividuals made substantial contributions to that time, there is one man who stands above the rest for his impact on the knowledge of the Europe of the Scientific Revolution and the subsequent Enlightenment. Sir Isaac Newton had the greatest impact on this portion of European history through his discoveries built upon the work of Kepler and Galileo, the use of his work as a catalyst and foundation for other movements, and the unity of his work with his faith. Isaac Newton is quoted as having said,Read MoreBritish Politics During The Lifetime Of Newton1069 Words   |  5 Pagesa. What were British politics during the lifetime of Newton? Before Isaac Newton was born, King Charles I was driven out of London by mobs and had to seek refuge in Nottingham, which was just a few miles away from Woolsthorpe, Newton’s soon-to-be hometown (Guillen, 1995, p. 13). While King Charles I was there, he declared war over who/what was going to govern England—Parliament or the royal sovereign (Gullien, 1995, p.13). However, this war was more like a war between â€Å"heaven and earth† becauseRead MoreThe Scientific Revolution Of Western Civilizations954 Words   |  4 PagesDuring the seventeenth century, the scientific revolution in Europe was at its peak, changing people’s lives through the new techniques of the scientific method. Citizens of western civilizations had previously used religion as the lens through which they perceived their beliefs and customs in their communities. Before the scientific revolution, science and religion were intertwined, and people were taught to accept religious laws and doc trines without questioning; the Church was the ultimate authorityRead More Sir Isaac Newtons Role in the Enlightenment Essay1558 Words   |  7 Pages Isaac Newton had a huge impact on the Enlightenment, he influenced it scientifically in many ways and he influenced faith and reason in a tremendous way. He was known more for his scientific achievements then his religious works.His background and education affected when he made these great achievements. Isaac Newton born on December 25,1642 in Woolsthorpe, England grew up, he was the most important physicist and mathematician of all time.1 Newton attended Cambridge where he studied mathematicsRead MoreTime And Date Of Birth790 Words   |  4 Pagesborn on January 4, 1643, in Woolsthorpe, England (Isaac Newton.). and (Isaac Newton, reluctant genius.). This was no ordinary being as he would change the world and our perception of the universe forever. Isaac was his name, and he was an English-born physicist and mathematician (Isa ac Newton.). Living Conditions He was the only son of a yeoman farmer, who’s name was also Isaac Newton, that sadly died three months before he was born (Isaac Newton.). â€Å"The small baby was very tiny and weak and wasRead MoreSir Isaac Newton: An Important Figure in Scientific History1131 Words   |  5 PagesSir Isaac Newton History has been characterized by important discoveries made by the worlds scientists. These men and women are responsible for everything that has led humanity from the cave-dwelling Neanderthals of ancient times to the position that they hold today. Scientists are responsible for the wheel, for fire, for tools, for every single thing that people have come to accept as a part of existence. Without scientific investigation, people could not progress and society as a whole wouldRead MoreWhat Is Science and Where Did It Come From?928 Words   |  4 PagesWhat is science and where did it come from? The study of science came before the scientific revolution got to begin. The scientific revolution began in the sixteenth and seventeenth century. The revolution was accomplished by developing the medieval roots of science of the classical age of Greece and Rome. Throughout the scientific revolution, the medieval scientific philosophy was abandoned in favor and improved methods proposed by d ifferent men. Finally, we are introduced to scientists of mathematiciansRead MoreThe Discoveries Of The Scientific Revolution1873 Words   |  8 PagesAbstract: Isaac Newton was the most influential figure of the scientific revolution. The scientific revolution brought attention to many figures, Copernicus and Galileo, but Newton is the scientist with most influential changes that that have changed how we think. His research and discovery of gravitation formula led to the scientific method. While that was his most famous discovery, he also had many findings in the mathematical field. Newton changed the way we think and his discovery on gravityRead MoreThe Achievements Of Isaac Newton1368 Words   |  6 Pagesminds that have contributed to shaping the scientific life that we live in today. One of the most influential scientists would be that of Sir Isaac Newton. Newton was a prominent philosopher, astronomer, mathematician, physicist, and scientist during the 17th century. The acco mplishments completed within his life helped in contributing and shaping the fact that he was one of the single-most influential scientists of his time. On January 4, 1643, Isaac Newton was born in the Woolsthorpe, LincolnshireRead MoreScientific Discoveries Of The Scientific Revolution1548 Words   |  7 PagesScientific Revolution The Scientific Revolution refers to a time in history when developments in the sciences took off and changed the view of society regarding the earth and nature. Some of the relevant topics of this time were mathematics, astronomy, biology, physics and chemistry. Typically, the scientific revolution is considered the time in Europe starting around the end of the Renaissance period and lasting through the late 18th century. Between 1543 and 1700, Europe underwent many changes

Wednesday, May 6, 2020

Neoliberalism Is A Political Project For Restore Class Power

Neoliberalism has a tendency to increase social inequality and this tendency is no accident. The rich thorough military force political maneuvering and the construction of mass consent decimate social infrastructure and break trade unions and social movements in order to cement class power. Proof that neoliberalism is more about class power than economic efficiency can be found in the numbers. The global picture looks, at least on the surface, to be very bleak. The poorest 40 percent of the world’s population accounts for 5 percent of global income. The richest 20 percent accounts for three-quarters of world income . Income inequality increased by 32% between 1960 and 2005 in the UK and in the US it increased by 23% . Neoliberal governance often departs from the theoretical template, providing further proof for Harvey’s thesis that neoliberalism is a political project to restore class power. These pragmatic departures prove very beneficial to the rich and in turn result in increased inequality and poverty. Harvey argues that neoliberal governance has two fundamental biases which show how favouring class power trumps the theoretical framework. Firstly, in practice neoliberal governance always favours fostering ‘good investment’ over ‘good business. Second, neoliberal states ‘typically favour the integrity of the financial system and the solvency of financial institutions over the well-being of the population or environmental quality’ . The reliance neoliberalism places onShow MoreRelatedThe Collapse Of The Soviet Union1387 Words   |  6 Pagescountry to country, the foundation among all the states was to rebuild the region through multipolarity and solidarity. Since the implementation of neoliberal economic policies in the 1980s, many Latin American countries were experiencing social, political, and economic crises, leftist movements and parties began rising to challenge the new order. The Pink Tide began in 1998 when Hugo Chavez was elected president in Venezuela. This paved the way for other leftist groups to gain momentum throughoutRead MoreEmerging From The Global Recession Of 1973-19752054 Words   |  9 PagesEmerging from the global recession of 1973-1975, the resulting surge of neoliberalism transformed the global economy into a secularized faith that draws on anxiety and responsibility for sustenance. Debt answers to anxiety and allows for a greater participation in the economy, subsequently, debtors become shackled to their indebtedness, which evolves into a continuous moral burden. The relationship between credit and debt has developed into a necessary technique of govern ­ment under neoliberal regimesRead MoreRadical Social Work and Social Action4276 Words   |  18 Pageshappiness, but there are rules for radicals who want to change their world†Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ Saul D. Alinsky, 1971. Above statement has the key to change the existing Indian society. In India, different social movements are going on against the politics of neoliberalism. This paper examines the difference between radical social work and social movements. This paper also reflects upon the ongoing movements and also criticizes social work practice. Managerial perspective to social distress created as a result ofRead MoreYasuni Itt7226 Words   |  29 Pagespublished in New Society Magazine No.237, January-February 2012, ISSN 0251-3552, A major transition for a great transformation Reflections from the Yasunà ­-ITT Initiative Renà © Ramà ­rez Gallegos1 When discussing the development of a political project from the Left there are two opposing positions or aspects: those which promote the idea of better managing and regulating capitalism – that is, striving for â€Å"good capitalism† – and those who hold anticapitalist positions. The author of this articleRead MoreOne Significant Change That Has Occurred in the World Between 1900 and 2005. Explain the Impact This Change Has Made on Our Lives and Why It Is an Important Change.163893 Words   |  656 PagesDavid M. Scobey, Empire City: The Making and Meaning of the New York City Landscape Gerda Lerner, Fireweed: A Political Autobiography Allida M. Black, ed., Modern American Queer History Eric Sandweiss, St. Louis: The Evolution of an American Urban Landscape Sam Wineburg, Historical Thinking and Other Unnatural Acts: Charting the Future of Teaching the Past Sharon Hartman Strom, Political Woman: Florence Luscomb and the Legacy of Radical Reform Michael Adas, ed., Agricultural and Pastoral SocietiesRead MoreContemporary Issues in Management Accounting211377 Words   |  846 Pagesaccounting. In the recent past, management accounting has not only seen changes within existing domains of the Weld but has also witnessed extensions outside its established realms of activity. Wider systemic transformations including changes in political regimes, novel conceptions of management controls, the impact of globalizing forces on commercial aVairs, shifts in notions of eVective knowledge management, governance, and ethics, and technological advances, including the rise of broadband, have

Ordinary Objects Become Meaningful Lacoste Challenge...

The organizational process behind making ads is complicated. Many things can be discovered when you look into the deeper meanings behind an advertisement. The advertisement that I chose to interpret through semiotic analysis came from Vogue Magazine, advertising the new Lactose perfume for men called Lacoste Challenge. This is a very recent ad, made to advertise this new fragrance for men, and it features celebrity actor Hayden Christensen as the new model for the promotion of this new perfume. This ad is pretty straight forward and general, but what else is missing? What other details were included in the development of this ad that makes it so effective to consumers? Through this semiotic analysis, the study of signs, I’m going to take a†¦show more content†¦The overall image has a very soft appeal, because the outlines of the man and the objects in the picture are slightly blurred. These are the images that we see when we take a first glance of the ad. These thing s are what people see first and recognise, as everyday items they are familiar with. Secondly, we’ll cover the connotative level of the advertisement, which is where we decode the deeper meanings behind the images in the ad, and interpret them in order to discover the meanings that are less obvious to the consumer. First is brand name that they have on the perfume Lacoste. Lacoste is a well known name, which in itself sounds expensive. It is a French name and the French are usually classified as high society people. The sell high end clothing and accessories for men widely know for the popular and stylish tennis and collared golf shirts. The animal used as a part of their logo is a green crocodile derived from the nick-name of a tennis player whose name was Lacoste. The male in the ad is celebrity actor and model Hayden Christensen. He is also wearing Lacoste apparel further advertising the brand. He is quite famous, and is easily recognized through his roles in various movi es. The ad also points this out in the bottom left hand corner just under his picture, to point that out to people who recognize the face, but can’t remember the name. By associating Hayden Christensen with Lacoste perfume it associates it with being an object of masculinity, celebrityShow MoreRelatedBrand Building Blocks96400 Words   |  386 Pagescompetition is at center stage, driven by the power of strong retailers, value-sensitive customers, reduced category growth, and overcapacity (often caused by new entrants and by old competitors hanging on, sometimes via bankruptcy). Retailers have become stronger year by year, and they have used that strength to put pressure on prices. Whereas a decade ago, the manufacturer largely controlled information, retailers are now collecting vast amounts of information and developing models to use it. AsRead MoreStrategic Marketing Management337596 Words   |  1351 Pagescontrol to produce superior marketing performance âž ¡ To give full recognition to the problems of implementation and how these problems might be overcome. Since the appearance of the first edition in 1992, the marketing environment – and therefore the challenges facing marketing planners and strategists – have changed in a variety of often dramatic ways. Amongst some of the most significant of these changes has been the emergence of what within this book we refer to as ‘the new consumer’ and ‘the new competition’

That Teenager on TV free essay sample

WhenI was little, I wanted to be the teenager I saw on TV. I wanted to be the typicalteen suffering under the iron-fisted rule of his parents, forced to complete hisdaily chores. I was seven when my father bought my mother an upright piano, and Isaw my opportunity to leap into that average world. To be as cool as thekids I saw on TV, I had to find some chore to complain about. When I asked mymother if I could take piano lessons, she demanded commitment: I would eithercontinue playing until I left for college, or be thrown out of the house. She washalf kidding, but I took her seriously. I was one of the few (if not the only)kids in the neighborhood who decided for himself to study the piano. Asthe days passed, I was forced to turn down dates with friends. Why? With a rollof my eyes Id explain, I have to practice the piano. We will write a custom essay sample on That Teenager on TV or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page It felt great -almost like a teenager. Then, I shocked myself by actually findingsatisfaction in playing. Progressing through Bachs two-part inventions, Ifound both a challenge and a means of relaxation. It reached the point that whilemost days I still practiced to keep the warden happy, some days I would just sitdown for hours to perfect a piece. Other instruments the recorder and thesaxophone came and went at the will of my school music teacher. They wereforced on me, so I had no real interest in them and let them go. I continued withthe piano as the years passed, and fewer friends continued their musiclessons. Years later, my musical interest grew to include the guitar, andeventually I started my own disk-jockey business. The satisfaction I get fromcreating and manipulating music is far greater than the sacrifices of time spentpracticing and money invested in buying instruments and equipment. Im sure thatmany people do not continue studying because of a bad experience. If youreforced, your only desire will be to stop. This is true with anything. Careers,for example, should reflect a love of the field and natural ability. Ask ateacher why he or she teaches, and you will almost always hear: I just loveto teach. I have learned from my piano that if you make a willful decisionto do something, and love doing it, you will succeed. Although my initial planfailed Im not that teenager on television I have something I love doing, soI think Ill be able to live with myself.