Banking In Emerging Markets Research Paper - 2750 Words

Banking In Emerging Markets in the Aftermath of Global Financial Crisis (Research Paper Sample) Content: Banking In Emerging Markets in the Aftermath of Global Financial CrisisName:Course:Tutor:Date:Paper outlineI.SynopsisII.IntroductionIII.The quality of central bank supervision and support during GFCIV.How Global financial crisis was managedV.Bank lending and non-performing assetsVI.Bank Structure à ¢Ã¢â€š ¬ ownershipVII.Bank performance in emerging marketsVIII.Rating of banks in emerging economiesIX.How banks in emerging market fared as compared to western banks during and after GFCXI.Effects of GFC on risks managementXII.Vulnerability of banks to crisisXIII.Reference Listà ¢Ã¢â€š ¬Ã†â€™SynopsisThis essay discusses the Global Financial Crisis (GFC) in emerging markets in the world. The essay utilizes several references that discuss the causes of GFC and the impacts on the economies of the emerging markets. The essay explores the differences in financial sectors between the emerging markets and the developed world with a view of ascertaining the differences in the de gree of the impacts of GFC on both economies. The essay studies why emerging markets are more prone to GFC as compared to developed economies. The key issues discussed by the essay are the severity of GFC, how GFC was managed, bank ownership structure, and the regulatory environment in the financial sectors of emerging markets.Banking in Emerging Markets in the Aftermath of Global Financial CrisisIntroductionThe background of the causes of global financial crisis (GFC) dates bank in mid 2007 in the United States of America. The collapse of subprime assets in the summer of 2007 triggered by liquidity crisis in the banking sector in the United States (Kapsis, 2012) was the origin of the most recent GFC. Lending was restricted due the exposure of the financial sector GFC due to the collapse of the subprime market. Banks that depended on interbank lending were worse hit by the crisis leading to solvency problems. According to Kapsis, the most hit banks, Northern Rock, and Bradford Bing ley were crippled by the insolvency problem in the early stages of the crisis. The daily operations of the banks were slowly shuttered by the financial menace that made the central banks react. The central banks intervened through offering liquidity support to the banks that were worse hit by liquidity problem. Furthermore, the government and other regulators intervened by brokering mergers of insolvent banks with banks which were more stable (Kapsis, 2012).Though the intervention by the government and the central bank seemed to have had significant success, the impact of the crisis was far from over. The subprime market multi-linkages among the banks spread the crisis further. According to Kapsis, the deeper effects of the crisis manifested further when Lehman Brothers was hit by the crisis in the year 2008. The crisis spread to various regions in the world when investor started to liquidate their positions as more banks in the United States and Europe experience insolvency threa ts (Kapsis, 2012).The world economy was in jeopardy due to these financial crises. Banks were reluctant to lend companies and consumer dues the turmoil. This pushed so many countries into economic recession. The United States and the European countries fought hard to contain the crisis that threatened to plunge the whole world into economic depression like the one witnessed after the First World War in early 1930s. Though the crisis was significantly contained its effects were far reaching consequences on the world emerging market economies. Moreover, the crisis still re-occurred in 2010 in Europe and threatens to spread to worldwide (Kapsis, 2012).The quality of central bank supervision and support during GFCAccording to Vies (2006), the structure supervision of the banking sector tends to be weak. Financial supervisors in emerging market lack legal protection exposing them to demands from lobbies. Furthermore, the regulatory authorities lack enough resources hence exposing them t o influence from government or foreign bodies that fund them. Banks in emerging markets are less developed exposing them to government inflationary debt because of dependence on government bonds (Vies, 2006). The government regulations in this scenario, weakness the financial sector in emerging markets (Vies, 2006). The structure of banking in emerging markets is further weakened by lack transparency in the regulation and supervision.The central banks as a financial sector supervisor played a major role in the mitigation of the financial crisis in emerging economies. Though the primary role of central banks is issuing currencies in the economy, management of external and internal currencies, credit regulation, and acting as a fiscal agent, it went beyond its mandate during the financial crisis to manage it effectively. During the GFC, the vulnerability of the banking system in emerging economies rendered the quality of supervision and regulation by the central banks (Vies, 2006). T his caused information and system asymmetry in the economy thereby catalyzing the crisis. According to Vies, to enhance quality regulation and supervision of the financial sector in an emergency there is a need to undertake rigorous examination of bank books. This enables central banks to draw up policies to maintain stability in the financial sector (Vies, 2006).How Global financial crisis was managedThe global financial crisis caused panic across the world, and this made government and financial regulators take a number of measures to manage the situation. Some of the major measures that were taken by governments and regulators included the use of deposit insurance, bailouts, and bankruptcies. Some countries especially in the emerging economies also opted to use foreign reserves to manage the situation since it was believed that the volatility in the foreign could further catalyze the crisis.Deposit insurance was implemented in many countries to protect bank deposits from losses d ue to the inability of the banks to pay their debts (Turner, 2006). This acted as a safety net by the central banks to ensure financial stability of several banks that were indebted. The crisis created anxiety among depositors, and this prompted some authorities to increase the coverage of the insurance of the deposits. Deposit insurance adoption helped to prevent the debt of the financial institution from being transmitted to depositors (Turner, 2006).Bailouts were also used to salvage banks that were greatly affected by solvency and liquidity problems. The United States government passed a bill in the year 2008 that allowed the government to bailout banks that were on the brink of collapse due to the financial crisis (McAfee Johnson, 2010). In Europe, the European Union committed to guaranteeing bank financing by spending $ 1.8 trillion and purchased banks shares to prevent collapse. The United States government further agreed to purchase equity ownership in major banks and purch ased less of the toxic mortgage debts (McAfee Johnson, 2010).Bank lending and non-performing assetsThe recent financial affected banking sectors across the world. However, the impact of the crisis was unevenly felt across different banking sectors in the world. Financial crisis has an effect on credit growth thereby causing standstill and drop in the growth of loans and assets (Middle East Economic Digest, 2010).The banking sector usually experience liquidity problems during GFC meaning that banks cannot afford to offer credit to companies during this period because of the probability of loan defaulting. It is generally acknowledged that companies are usually in dire need of credit during GFC.Non-performing assets, according to Yang, can be defined as accounts are assets or accounts that are held by borrowers that the bank classifies as doubtful. During GFC, many companies become bankrupts due to liquidity and solvency problems. This translates to an increase in bank non-performing assets because of the high levels of defaulting caused by the crunch of companies affected by the GFC (Middle East Economic Digest, 2010).Bank Structure à ¢Ã¢â€š ¬ ownershipTypes of banks in emerging markets are classified as government owned, private domestic, and foreign. According to Mian (2003), these banking structures differ significantly from one another. Majority government banks are characterized by lack poor cash-flows. Private domestic banks on the other hand have high cash-flows incentives, and clear separation from the ownership. Mian points out those foreign banks are only differentiated from private domestic bank by the organizational structure of the top management. These types of banks are equally distributed across the emerging markets across the world.Many emerging market economies have banks that are either directly owned by the government or indirectly controlled by the government. It is due to this reason that the governments play a major role in the regulati on of financial sector in many emerging economies. In his analysis of the political influence on bank ownership in emerging countries, Dinc finds out that government ownership of banks is very common in emerging markets. It is further noted that the government holds large stakes in banks that it controls (Dinc, 2005). Government owned banks tend to bigger and older than the private domestic and foreign banks (Mian, 2003).Private domestic banks are more aggressive in terms of lending as compared to government and foreign banks. Private domestic banks in developing economies hold less of liquid assets and more in the form of loans as compared to foreign banks. Furthermore, private domestic banks give out loan at a higher rate than the foreign counterparts (Mian, 2003)Foreign banks have significantly gained way into the emerging market for a couple of decades ... Banking In Emerging Markets Research Paper - 2750 Words Banking In Emerging Markets in the Aftermath of Global Financial Crisis (Research Paper Sample) Content: Banking In Emerging Markets in the Aftermath of Global Financial CrisisName:Course:Tutor:Date:Paper outlineI.SynopsisII.IntroductionIII.The quality of central bank supervision and support during GFCIV.How Global financial crisis was managedV.Bank lending and non-performing assetsVI.Bank Structure à ¢Ã¢â€š ¬ ownershipVII.Bank performance in emerging marketsVIII.Rating of banks in emerging economiesIX.How banks in emerging market fared as compared to western banks during and after GFCXI.Effects of GFC on risks managementXII.Vulnerability of banks to crisisXIII.Reference Listà ¢Ã¢â€š ¬Ã†â€™SynopsisThis essay discusses the Global Financial Crisis (GFC) in emerging markets in the world. The essay utilizes several references that discuss the causes of GFC and the impacts on the economies of the emerging markets. The essay explores the differences in financial sectors between the emerging markets and the developed world with a view of ascertaining the differences in the de gree of the impacts of GFC on both economies. The essay studies why emerging markets are more prone to GFC as compared to developed economies. The key issues discussed by the essay are the severity of GFC, how GFC was managed, bank ownership structure, and the regulatory environment in the financial sectors of emerging markets.Banking in Emerging Markets in the Aftermath of Global Financial CrisisIntroductionThe background of the causes of global financial crisis (GFC) dates bank in mid 2007 in the United States of America. The collapse of subprime assets in the summer of 2007 triggered by liquidity crisis in the banking sector in the United States (Kapsis, 2012) was the origin of the most recent GFC. Lending was restricted due the exposure of the financial sector GFC due to the collapse of the subprime market. Banks that depended on interbank lending were worse hit by the crisis leading to solvency problems. According to Kapsis, the most hit banks, Northern Rock, and Bradford Bing ley were crippled by the insolvency problem in the early stages of the crisis. The daily operations of the banks were slowly shuttered by the financial menace that made the central banks react. The central banks intervened through offering liquidity support to the banks that were worse hit by liquidity problem. Furthermore, the government and other regulators intervened by brokering mergers of insolvent banks with banks which were more stable (Kapsis, 2012).Though the intervention by the government and the central bank seemed to have had significant success, the impact of the crisis was far from over. The subprime market multi-linkages among the banks spread the crisis further. According to Kapsis, the deeper effects of the crisis manifested further when Lehman Brothers was hit by the crisis in the year 2008. The crisis spread to various regions in the world when investor started to liquidate their positions as more banks in the United States and Europe experience insolvency threa ts (Kapsis, 2012).The world economy was in jeopardy due to these financial crises. Banks were reluctant to lend companies and consumer dues the turmoil. This pushed so many countries into economic recession. The United States and the European countries fought hard to contain the crisis that threatened to plunge the whole world into economic depression like the one witnessed after the First World War in early 1930s. Though the crisis was significantly contained its effects were far reaching consequences on the world emerging market economies. Moreover, the crisis still re-occurred in 2010 in Europe and threatens to spread to worldwide (Kapsis, 2012).The quality of central bank supervision and support during GFCAccording to Vies (2006), the structure supervision of the banking sector tends to be weak. Financial supervisors in emerging market lack legal protection exposing them to demands from lobbies. Furthermore, the regulatory authorities lack enough resources hence exposing them t o influence from government or foreign bodies that fund them. Banks in emerging markets are less developed exposing them to government inflationary debt because of dependence on government bonds (Vies, 2006). The government regulations in this scenario, weakness the financial sector in emerging markets (Vies, 2006). The structure of banking in emerging markets is further weakened by lack transparency in the regulation and supervision.The central banks as a financial sector supervisor played a major role in the mitigation of the financial crisis in emerging economies. Though the primary role of central banks is issuing currencies in the economy, management of external and internal currencies, credit regulation, and acting as a fiscal agent, it went beyond its mandate during the financial crisis to manage it effectively. During the GFC, the vulnerability of the banking system in emerging economies rendered the quality of supervision and regulation by the central banks (Vies, 2006). T his caused information and system asymmetry in the economy thereby catalyzing the crisis. According to Vies, to enhance quality regulation and supervision of the financial sector in an emergency there is a need to undertake rigorous examination of bank books. This enables central banks to draw up policies to maintain stability in the financial sector (Vies, 2006).How Global financial crisis was managedThe global financial crisis caused panic across the world, and this made government and financial regulators take a number of measures to manage the situation. Some of the major measures that were taken by governments and regulators included the use of deposit insurance, bailouts, and bankruptcies. Some countries especially in the emerging economies also opted to use foreign reserves to manage the situation since it was believed that the volatility in the foreign could further catalyze the crisis.Deposit insurance was implemented in many countries to protect bank deposits from losses d ue to the inability of the banks to pay their debts (Turner, 2006). This acted as a safety net by the central banks to ensure financial stability of several banks that were indebted. The crisis created anxiety among depositors, and this prompted some authorities to increase the coverage of the insurance of the deposits. Deposit insurance adoption helped to prevent the debt of the financial institution from being transmitted to depositors (Turner, 2006).Bailouts were also used to salvage banks that were greatly affected by solvency and liquidity problems. The United States government passed a bill in the year 2008 that allowed the government to bailout banks that were on the brink of collapse due to the financial crisis (McAfee Johnson, 2010). In Europe, the European Union committed to guaranteeing bank financing by spending $ 1.8 trillion and purchased banks shares to prevent collapse. The United States government further agreed to purchase equity ownership in major banks and purch ased less of the toxic mortgage debts (McAfee Johnson, 2010).Bank lending and non-performing assetsThe recent financial affected banking sectors across the world. However, the impact of the crisis was unevenly felt across different banking sectors in the world. Financial crisis has an effect on credit growth thereby causing standstill and drop in the growth of loans and assets (Middle East Economic Digest, 2010).The banking sector usually experience liquidity problems during GFC meaning that banks cannot afford to offer credit to companies during this period because of the probability of loan defaulting. It is generally acknowledged that companies are usually in dire need of credit during GFC.Non-performing assets, according to Yang, can be defined as accounts are assets or accounts that are held by borrowers that the bank classifies as doubtful. During GFC, many companies become bankrupts due to liquidity and solvency problems. This translates to an increase in bank non-performing assets because of the high levels of defaulting caused by the crunch of companies affected by the GFC (Middle East Economic Digest, 2010).Bank Structure à ¢Ã¢â€š ¬ ownershipTypes of banks in emerging markets are classified as government owned, private domestic, and foreign. According to Mian (2003), these banking structures differ significantly from one another. Majority government banks are characterized by lack poor cash-flows. Private domestic banks on the other hand have high cash-flows incentives, and clear separation from the ownership. Mian points out those foreign banks are only differentiated from private domestic bank by the organizational structure of the top management. These types of banks are equally distributed across the emerging markets across the world.Many emerging market economies have banks that are either directly owned by the government or indirectly controlled by the government. It is due to this reason that the governments play a major role in the regulati on of financial sector in many emerging economies. In his analysis of the political influence on bank ownership in emerging countries, Dinc finds out that government ownership of banks is very common in emerging markets. It is further noted that the government holds large stakes in banks that it controls (Dinc, 2005). Government owned banks tend to bigger and older than the private domestic and foreign banks (Mian, 2003).Private domestic banks are more aggressive in terms of lending as compared to government and foreign banks. Private domestic banks in developing economies hold less of liquid assets and more in the form of loans as compared to foreign banks. Furthermore, private domestic banks give out loan at a higher rate than the foreign counterparts (Mian, 2003)Foreign banks have significantly gained way into the emerging market for a couple of decades ...

Contract Laws Essay - 1100 Words

Contract Laws (Research Paper Sample) Content: Assignment 3Assignment Task:Write up a simple case of a contract that is void because it is entered into under duress (4 marks). Write up a simple unilateral contract where the offeror reneges on a promise (6 marks). What does the offeree do in response to the offerors refusal to do as he promises in the contract (3 marks)?Contract lawsNameDateCourseQuestion 1 In terms of entering a contract, duress involves threatening, use of violence or constrain for the purposes of making someone sign a contract. In most cases, illegitimate pressure is usually applied to the weaker party for the purposes of forcing them to enter into a contract. The common laws play an essential role in determining the concepts of the contract laws. When parties are entering into a contract, duress is held to have taken place where an actual threat or violence has occurred. An example is where one party uses threats or violence either directly or indirectly to force the party to enter into the contract. In such a scenario, the contract is considered void. However, the party must prove that violence or threats contributed to their signing of the contract. Forcing a party to enter into a contract through threats and violence amounts to their deprivation of the free will to act. Question 2 In a unilateral contract, the offeror has to perform an act which indicates that he or she is in agreement with the bargain among the parties. Perfuming an act is also required during the process in order for the contract to take place. The acceptance occurs once the act that the offeror has been requested to perform has been embarked on. Once the offeree has performed the act, the unilateral contract takes effect and any contradiction by the offeror amounts to the renegation of the unilateral contract. In the case of  HYPERLINK "/cases/daulia.html" \t "_blank" Daulia Ltd v Four Millbank, an issue had arise on whether or not the offer may be revoked if the act that had been agreed up on has started but it has not been completed. The court ruled that once the act has been embarked upon, an acceptance has occurred which leads to the unilateral contract. This means that withdrawing the offer once the offeree has started the act amounts to the renegation of the unilateral contract. It is also important to note that the renegation of the unilateral agreement may lead to the legal issues and civil compensations may arise. On the other hand, the renegation of unilateral contract also occurs when an offeree performs the required and decides to withdraw upon the completion of the act. In the case of Mobil Oil Australia v Wellcome International, the issues of revoking a contact also arose. Mobil oil Australia had promised the dealers that any dealer who performed at a set level for 6 years would be given a franchise for a further 9 years free of charge. However, Mobil later revoked the scheme despite the performance of several delars. The trial judge held that onc e the offeree has embarked on the performance, the offer cannot be revoked. The full court however disagreed with the trial judge based on the fact that there is no universal proposition that the offeror is not at liberty to revoke the offer once the offeree have embarked on the performance. The action of the company still amounts to the renegation of the unilateral contract. The renegation of the promise has a negative impact to the parties concerned as it may lead to financial losses and it may also lead to the court battles between the parties concerned. The offer may be revoked on special circumstances with the consultations of both parties. In some situation the offeror may refuse do as promised in the contract with the offeree. While making an offer, it is important to note that it is only based on the promises and not form is required during the process. This means that the process is entirely dependant on the goodwill of both parties. The offeree has the option of reje cting the offer through an outright refusal or making a counter offer incase the offeror refuses to abide by the promises made. However, incase of rejecting the offer, proper communication must be used to ensure that the offeror... Contract Laws Essay - 1100 Words Contract Laws (Research Paper Sample) Content: Assignment 3Assignment Task:Write up a simple case of a contract that is void because it is entered into under duress (4 marks). Write up a simple unilateral contract where the offeror reneges on a promise (6 marks). What does the offeree do in response to the offerors refusal to do as he promises in the contract (3 marks)?Contract lawsNameDateCourseQuestion 1 In terms of entering a contract, duress involves threatening, use of violence or constrain for the purposes of making someone sign a contract. In most cases, illegitimate pressure is usually applied to the weaker party for the purposes of forcing them to enter into a contract. The common laws play an essential role in determining the concepts of the contract laws. When parties are entering into a contract, duress is held to have taken place where an actual threat or violence has occurred. An example is where one party uses threats or violence either directly or indirectly to force the party to enter into the contract. In such a scenario, the contract is considered void. However, the party must prove that violence or threats contributed to their signing of the contract. Forcing a party to enter into a contract through threats and violence amounts to their deprivation of the free will to act. Question 2 In a unilateral contract, the offeror has to perform an act which indicates that he or she is in agreement with the bargain among the parties. Perfuming an act is also required during the process in order for the contract to take place. The acceptance occurs once the act that the offeror has been requested to perform has been embarked on. Once the offeree has performed the act, the unilateral contract takes effect and any contradiction by the offeror amounts to the renegation of the unilateral contract. In the case of  HYPERLINK "/cases/daulia.html" \t "_blank" Daulia Ltd v Four Millbank, an issue had arise on whether or not the offer may be revoked if the act that had been agreed up on has started but it has not been completed. The court ruled that once the act has been embarked upon, an acceptance has occurred which leads to the unilateral contract. This means that withdrawing the offer once the offeree has started the act amounts to the renegation of the unilateral contract. It is also important to note that the renegation of the unilateral agreement may lead to the legal issues and civil compensations may arise. On the other hand, the renegation of unilateral contract also occurs when an offeree performs the required and decides to withdraw upon the completion of the act. In the case of Mobil Oil Australia v Wellcome International, the issues of revoking a contact also arose. Mobil oil Australia had promised the dealers that any dealer who performed at a set level for 6 years would be given a franchise for a further 9 years free of charge. However, Mobil later revoked the scheme despite the performance of several delars. The trial judge held that onc e the offeree has embarked on the performance, the offer cannot be revoked. The full court however disagreed with the trial judge based on the fact that there is no universal proposition that the offeror is not at liberty to revoke the offer once the offeree have embarked on the performance. The action of the company still amounts to the renegation of the unilateral contract. The renegation of the promise has a negative impact to the parties concerned as it may lead to financial losses and it may also lead to the court battles between the parties concerned. The offer may be revoked on special circumstances with the consultations of both parties. In some situation the offeror may refuse do as promised in the contract with the offeree. While making an offer, it is important to note that it is only based on the promises and not form is required during the process. This means that the process is entirely dependant on the goodwill of both parties. The offeree has the option of reje cting the offer through an outright refusal or making a counter offer incase the offeror refuses to abide by the promises made. However, incase of rejecting the offer, proper communication must be used to ensure that the offeror...

The Representation Of Race, Class And Gender - 925 Words

The representations of race, class and gender in the media promote various forms of oppressions. Ideologies of class that commemorate the upper class and diminish the lower class are seen in many programs. Ideologies of gender that discriminate women and promote sexism, ideologies of race that misrepresent people of color are mostly created by people who have different perspectives and ideologies. For instance in a 2008 television commercial for the Japanese cell phone companies, a monkey is shown in an election campaign with the slogan â€Å"Change,† the same slogan widely used during the campaign of the first African-American president of the U.S., Barack Obama. Because the media creates a global flow of images, this image circulated all over the word which certainly reinforced prejudices about black. This shows how people who own and control the media transmit dominant ideologies. Today the level of media saturation has tremendously increased. Television and other forms of media can be found in the poorest of homes. The excess availability of the media also comes with overcrowding channels which target different audiences. Programming featuring sports to reality TV are diverse genres of shows that aim to please all ages, incomes, backgrounds and attitudes. Because many media corporations are for profit, they spend a considerable amount of money to determine the amount of demand that the public wants. The media then produces services and goods to satisfy the market demand.Show MoreRelatedMovie Analysis : The Movie 1072 Words   |  5 Pagesmovie, there are many stereotypes, images, and representations of gender, class, and race and demonstrate intersectionality. This paper, will outline these categories are portrayed throughout the film. In the film, there are many issues and differing expectations concerning those of different genders. Some of these issues are related to education, work, marriage, and childbirth. 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As the American society changes its views on gender and sexual norms, sometimes through movements, it has informed representations of theRead MoreA Cult, The Power Hungry, And The Egomaniacs1480 Words   |  6 PagesAdditionally, Tammy represents another portion of the class division, the leader of a cult, both of religion and personality, standing over her followers and giving them orders to lay down their lives while never sacrificing her own. Similar to the celebrities that influence their audience, the corrupt religious leaders that swindle their patrons, or the politicians that send young adults to war but never leave the safety of their own homes, Tammy is a symbol of the corrupt, the power-hungry, andRead MoreFactors That Affect The Probability Of An Individual1506 Words   |  7 Pagesprobability of an individual going to college following high school. 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Entertainment Architecture and Disney Design

The Walt Disney Company must be a fun place to work. Even the Seven Dwarfs have smiles on their faces as they sing Heigh-ho, Heigh-ho, its off to work we go!  But who knew cartoon characters would be asked to hold up the floors of Disney Headquarters in Burbank, California? Designed by internationally known American architect Michael Graves, this whimsical building is a landmark example of entertainment architecture. Disney Architecture Needs Disney Architects The Walt Disney Company is not just for kids. When you visit any of the Disney theme parks or hotels, youll find buildings designed by some of the worlds leading architects, including Michael Graves. Typically, theme park architecture is as the name implies — thematic. Borrowing popular motifs from history and fairy tales, theme park buildings are designed to tell a story. For example, its well known that the romantic Neuschwanstein Castle in Germany inspired Disneyland’s Sleeping Beauty Castle in Southern California. But the Walt Disney Company wanted more when Michael Eisner took over in 1984. Were not about safe-deposit boxes. Were in the entertainment business, Eisner told The New York Times. And so the company set out to find architects to develop an entertainment architecture. Architects Who Have Designed for the Walt Disney Company All architects do not submit to the blatant commercialism behind entertainment architecture. Most notably, when the Disney Company was enlisting architects for their Disney World expansion, Pritzker Laureate James Stirling (1926-1992) denied Disneys advances — the commercialization of Britains Queen, the  changing of the guard, and other regal traditions soured the Scottish-born architect on using architecture for frivolous commercial promotion. Many postmodernists, however, jumped at the challenge of designing an architecture whose purpose was to envelop entertainment. They also jumped at the chance to be part of the powerful Disney empire. Architecture becomes magic, whether designing for Disney or not in the 1980s and 1990s. Robert A. M. Stern may be the most prolific Disney architect. At the Walt Disney World Resort, his designs for the BoardWalk and the 1991 Yacht and Beach Club Resorts are modeled after New England private resorts and clubs — a theme Stern also used for the 1992 Newport Bay Club Hotel at Paris Disneyland in Marne-La-Vallà ©e, France. Even more Disneyesque is Sterns 1992 Hotel Cheyenne in France — conceived in the image of a nineteenth-century American western town, but filtered through the lens of Hollywood....Hotel Cheyenne is the town itself. The meaning of the lens of Hollywood is, of course, what became known as the Disney version and not the 1973 horror tale of robots gone amok in the Westworld movie by Michael Crichton. A New York architect known for his sleek, postmodern urban designs, Stern developed the art moderne Disney Ambassador Hotel in 2000 in Urayasu-shi, Japan — a design that looks back to an architecture that represented the promise, magic, and glamour of a time when travel and movies were a romantic escape. Stern is also a champion of the new urbanism movement. In 1997 Sterns architecture firm, RAMSA, was chosen to design the Master Plan for Disneys planned community known as Celebration, Florida. It was to be a real community, where real people live and commute to nearby Orlando, but modeled after a typical sleepy Southern town of children, bikes, and neighborhood pets. Postmodernist architects were enlisted to design playful town buildings, such as the multi-columned Town Hall by Pritzker Laureat Philip Johnson and the Googie-styled movie theater designed by Cesar Pelli. Michael Graves designed a small post office that looks like a lighthouse, or a silo, or a ships smokestack. Graham Gunds inn is designed for visitors to step into 1920s Florida relaxation, but Robert Venturi and Denise Scott Brown planned the local bank to look like the old J.P. Morgan vault on the Corner of Wall Street in Lower Manhattan — all postmodern fun. Colorado architect Peter Dominick (1941-2009) knew how to design Disneys Wilderness Lodge and Animal Kingdom Lodge — resort rustic based on American Rockies. The whimsical Michael Graves (1934-2015) incorporated swans and dolphins, waves and shells into the architecture of the Walt Disney World Swan and Walt Disney World Dolphin hotels. Charles Gwathmey (1938-2009) designed Bay Lake Tower to look like a modern convention center and hotel, which it was. Disney employees work in Team Disney office buildings, which in a postmodern world are designed to look like cartoons. Michael Graves dwarf-clad headquarters building in Burbank, California substitutes dwarfs for Classical order columns. Japanese architect Arata Isozaki uses sundials and mouse ears within the Orlando, Florida Team Disney building. Italian architect Aldo Rossi (1931-1997) created Celebration Place, an office complex that is a drive-by lesson of postmodernism in the history of architecture. When Rossi won the Pritzker Prize in 1990, the jury cited his work as being bold and ordinary, original without being novel, refreshingly simple in appearance but extremely complex in content and meaning. This is the architecture of a Disney architect. Disney Design Specifications At Disney, architects may (1) strive for historic authenticity and recreate historic buildings; (2) take a whimsical approach and exaggerate storybook images; (3) create subtle, abstract images; or (4) do all of these things. How? Take a look at the Swan and Dolphin hotels designed by Michael Graves. The architect creates a storybook destination without stepping on the toes of any Disney character. Giant sculptures of swans, dolphins, and shells not only greet each guest, but also stay with the visitors throughout their journey. Sculptures are everywhere.  Located near EPCOT in the Walt Disney World ® Resort, the hotels architectural theme not only takes storybook-like figures, but also environmental elements as their theme. Like the swans and dolphins, water and sunlight are everywhere. Waves are painted as murals on the hotels facade. The hotel itself is an entertainment destination. What is Entertainment Architecture? Entertainment architecture is the design of commercial buildings with a focus on amusing themes. The approach has  been loosely promoted and/or defined by the entertainment industry, with the Walt Disney Company leading the way. You might suppose that entertainment architecture is the architecture of theaters and amusement parks, and structures exclusively designed by Disney architects. However, the term entertainment architecture can refer to any building or structure, regardless of its location and function, provided that it is designed to stimulate the imagination and encourage fantasy and whimsy. The Frank Gehry-designed Walt Disney Concert Hall in California may be a hall for entertainment, but its design is pure Gehry. Some works of entertainment architecture are playful recreations of famous monuments. Some feature enormous statues and fountains. Entertainment architecture is often considered postmodern because it uses familiar shapes and details in unexpected ways. Examples of Entertainment Architecture Perhaps the most striking illustrations of entertainment architecture are amusing theme hotels. The Luxor Hotel in Las Vegas, for example, is designed to resemble a giant pyramid filled with over-sized imitations of ancient Egyptian artifacts. In Edmonton, Alberta, Canada, the Fantasyland Hotel stimulates make-believe by decking out rooms in various themes, like the Old West and ancient Roman splendor. You will also find many examples of entertainment architecture in Disney World and other theme parks. The Swan Dolphin Hotels may be considered entertainment architecture as guests discover giant birds lurking through windows into lobbies. It is a destination in and of itself. Likewise, the exaggerated pediment at Disney Headquarters in Burbank, California is not supported by Classical columns but is held up by six of the Seven Dwarfs. And Dopey? Hes at the top, within the pediment, unlike any other symbolic statuary youve ever seen. Building a Dream One of the best sources for in-depth information on buildings at Disney resorts world-wide is Building a Dream: The Art of Disney Architecture by Beth Dunlop. Dont let the Disney name in the subtitle fool you. Building a Dream is not a travel guide, a childs storybook or a sugarcoated romanticization of the Disney empire. Instead, Dunlops picture-packed book is a careful study of the imaginative and often-revolutionary designs found in Disney theme parks, hotels, and corporate offices. At over two hundred pages and with a focus on the Michael Eisner years, Building a Dream includes interviews with architects, drawings and color photos along with a helpful bibliography. Author Dunlop has written for numerous architecture, design, and travel magazines, as well as being the architecture critic at the Miami Herald for fifteen years. In Building a Dream, Dunlop approaches Disney architecture with the care and respect of an anthropologist. She examines original concept drawings and historic photographs and she conducts extensive interviews with architects, imagineers and corporate leaders. Architecture enthusiasts will be fascinated by the inside story of how the trendy architects Eisner hired managed to incorporate Disney motifs into complex and often abstract designs. Building a Dream is a book studded with anecdotes: We learn about the heated competition to build the Swan and Dolphin hotels and the oriental philosophies expressed in Isozakis striking Team Disney building. We make dizzy and sometimes disorienting leaps from Disneyland to Walt Disney World to EuroDisney. An occasional technical term, such as scuppers along the parapet may leave some readers baffled, but overall Dunlops tone is relaxed and conversational. Devoted Disney fans may wish Dunlop had spent more time on Cinderellas castle and Thunder Mountain. Even in its early days, the Walt Disney Company pioneered imaginative building styles. Dunlop traces the evolution of the first Disney Main Street, Future World and the original corporate offices. For Dunlop, however, the most exciting architecture was created when Eisner took over the company in 1984. When Eisner commissioned prize-winning architects to create new designs for Disney worldwide, the ideas baked into modern architecture were brought to the masses. This is the importance of the Disney architects. Sources Disney Deco by Patricia Leigh Brown, The New York Times, April 8, 1990 [accessed October 2, 2015]Additional photo of the Team Disney Building in Burbank, California by George Rose/Getty Images; additional photos of the Swan and Dolpin Hotels courtesy Swan Dolphin MediaWDW Architecture, http://www.magicalkingdoms.com/wdw/more/architecture.html [accessed January 25, 2018]RAMSA, Hotel Cheyenne, http://www.ramsa.com/project-detail.php?project451 and Disney Ambassador Hotel, http://www.ramsa.com/project-detail.php?project453langen [accessed January 28, 2018]Pritzker Prize, https://www.pritzkerprize.com/laureates/1990 [accessed January 26, 2018]

Is Online Banking A Good Thing Or Bad Thing - 1524 Words

Is online banking a good thing or a bad thing? Online banking is now a part of almost all the banks in the developed world, and even banks in developing countries, and in tax haven countries, are getting online. They are reacting to market demand, and since demand is so high, it is fair to say that online banking is currently a good thing and that it is probably here to stay unless there is a large security breach that shatters people’s confidence in online banking. Here are the pros and cons of online banking. Pro - It Is A Convenient Way To Check Your Balance Being able to hop online and see your balance is very convenient and is certainly better than having to wait for an email statement or paper statement. It is also better than†¦show more content†¦For example, you may have to dig out online statements and send them over, or may have to scan your ID so you can send it over. There are often far more steps involved when signing up online and opening your account online. Pro - There Is A High Degree of Ubiquity If you have a problem with your account or your money, and even if you abroad, you are able to hop online and deal with it yourself in some cases. This is possible because there are some banks, companies and financial institutions that give you online tools to deal with your own problems. The fact the account is accessible via the Internet means your current location doesn’t have a negative effect (in some cases), and you are subsequently able to access your account and fix things as you wish. Con - Support Is Harder To Get If you sign up in a branch, then you can ask questions in the moment and have the process explained to you. If you apply online, then you may have to call their customer service department to get answers, plus they may ask you questions on the website that you do not know the answer to, which means you have to contact their support team or check their FAQ section. Pro - Transaction Speeds Tend To Be Faster When things happen as a result of your actions online, you are not the one that actually â€Å"Actions† the transaction, but you are the one that sends the instruction. This

The Treatment Of The Transplant - 898 Words

Imagine being told you will never be able to have a child. For many women this is the case. Nearly 4500 newborn girls are born with ovaries, but no uterus. This can be very detrimental news for any women with hopes of eventually having a family. Eventually, women with this syndrome, will never have to hear that they are incapable of having a child of their own. Doctors from the Cleveland Clinic hospital in Weston, Florida are working to be the first in the United States to successfully transplant a uterus from a donor to a live women. The transplanted uterus will be taken from organ donors, as the surgery is too vigorous for a live person, though it has been done in Sweden. The uterus of a donor can survive up to eight hours outside of the body if it is kept cold. The eligible recipients of the transplant are women who are born without a uterus, had it removed or have uterine damage. The transplant recipient is only allowed up to two pregnancies with the transplanted uterus for medical reasons. After two births the recipient may choose to either have the uterus extracted or quit taking the anti-rejection drugs to let the uterus extract itself. There are many procedures that have to be done before the recipient is eligible for the transplant. They will have to go through extensive screenings and tests to ensure they are in a stable relationship and to also prove that they are not being forced to have the surgery. The recipient must also be stable financially, as theShow MoreRelatedThe Treatment Of Heart Transplant Essay912 Words   |  4 PagesBackground Heart transplant have grown to be a therapeutic strategies for patients with heart failure, and respectively offers improved quality life and survival. Many various techniques have been used to ensure safety and survival of pediatric patients, however in the case of rejection, death rate have enormously been reviewed. 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Planning And Management Of Holiday Trip - Myassignmenthelp.Com

Question: Discuss about thePlanning And Management Of Holiday Trip. Answer: Introduction to the Company XYZ is a Singapore based organization that provides web based solutions to its customers. The organization deals in three primary domains as Healthcare, Finance and Real-Estate. The organization comprises of an employee base of 500 employees and is in its expansion phase. It is spread over seven countries and has twelve office locations world-wide. The organization has managed to develop a good reputation in the market owing to its excellent customer service and support. Introduction to the Project A team of ten employees of XYZ organization have been rewarded with an opportunity to experience a holiday trip by the organization owing to their excellent performance and success in their respective projects. The project includes the organization and successful management of the entire trip. The project team must cover the identification of the scope in terms of the selection of destination, designing of the cost and schedule, booking formalities and likewise (Mallery, 2011). Project Scope Statement Project Objectives The primary project objective is to make sure that the entire holiday trip with the company is successfully organized and managed. The objectives are as listed below. To identify the holiday destination and book the travel tickets and hotel for every individual in the team. To organize the VISA formalities for all the interested individuals To develop a travel itinerary and distribute the same among all the travelers Project Deliverables List of the travelers that will be holidaying with the company Approved visas of all the travelers Detailed travel itinerary Confirmation of hotel bookings Return flight tickets for all the travelers (Henderson, 2004) Project Milestones Finalization of the destination 11th August 2017 Complete list of the travelers 14th August 2017 Return flight tickets 15th August 2017 Approved Visa 24th August 2017 Detailed itinerary 31st August 2017 Booking confirmation of the hotels 4th September 2017 Technical Requirements Valid passport will be necessary for all the travelers holidaying with the company Every traveler must fulfill the eligibility criteria to travel to Australia There must not be any pending responsibilities on any traveler travelling with the company There must not be a severe medical condition for any member Limits and Exclusions The company will not be responsible for the refunds if the traveler chooses to back out seven days prior to the travel dates There will no upgrades provided to the travelers in the flight or the hotels (Seethamraju, 2012) The company will not cover the expenses of shopping for the travelers. The entire holiday shall be completed in the period of ten days including the travel dates (Gulledge, 2002) Review with Customer Task Project Manager Finance Officer Travel Expert Associate 1 Associate 2 Planning of the Project R R S S Booking of the Tickets S S R S S Visa related formalities R S Itinerary of the Project R R S Hotel Bookings R S Finalization and Closure R S S R = Responsible S = Support/Assist Project Priority Matrix Project Time Project Scope/Performance Project Cost Constraint X Enhance X Accept X Project Priority Matrix Three factors viz. time, cost and scope will be of prime importance for the project on holiday trip with the company. These factors will be required to be analyzed and understand to decide the priority on all of these three project factors. Constraint The holiday trip that will be carried out by the company will include a number of bookings and other formalities such as booking of the flight tickets, hotel bookings along with the acquiring of the visa documents for all of the travelers. Also, the travelers that will be holidaying will have a number of company responsibilities. Altering of the dates may lead to delays and penalties due to the non-fulfillment of the required duties. Project time will therefore be a primary constraint that shall not be altered in any situation (Yang Tamir, 2015). Enhancement Project time and cost are the factors that will not be possible to be enhanced. Although, project scope is one of the project factors that may be enhanced in terms of the type of the hotel, places to be covered in the itinerary and so on. Project scope that may be enhanced may include travel itinerary along with the booking categories. Accepts There can be certain variations that may be accepted in terms of the cost associated with the project. The project budget will be designed in advance. There may be changes in the price of the flight tickets or tariffs that are charged for the hotels (Sunde, 2011). The project priority has been designed as per the matrix that has been illustrated above. The project factors and the priority associated with each of the factor have also been displayed in the matrix above (Mohapatra Patnaik, 2011). Work Breakdown Structure (WBS) Work Breakdown Structure (WBS) displays the packages and sub-packages associated with the project in the form of a hierarchical diagram. In case of the project of a holiday trip with the company, a 3-level WBS has been designed. The same has been illustrated below comprising of the packages and their respective sub-packages as well. Design of project budget and schedule The project budget along with the project schedule must be designed. Project Scope finalization Project scope statement shall be designed and approved. Identification of travelers and Selection of the travel destination The candidates willing to travel with the company shall be enquired about their preferred choices and desired destination for holiday. The travel destination shall be finalized as per the choices received along with the project budget and schedule. Desired travel dates from the travelers The travel dates shall be collected from all the travelers. Confirmation of travel dates The travel dates shall be finalized as per the schedule. Gathering of demographic information The travelers shall be inquired and their respective demographic information shall be gathered. Booking of return tickets Return flight tickets for all the travelers shall be booked. Collection of passports from the travelers Passports shall be collected from all of the travelers. Collection of other required documents Documents such as identity proofs and photographs shall be gathered from the travelers. Filling of the visa application Visa application shall be filled by all the travelers. Submission of visa The visa shall be submitted for all the travelers. Collection of the approved visa Visa shall be collected and approved for the travelers. Identification of the cities to be travelled in Australia Itinerary shall be based upon the cities that must be covered in the holiday. Identification of the places to visit in every city Every city shall be mapped with the places that shall be visited. Distribution of the itinerary to travelers Itinerary shall be shared with the travelers. Acquiring of feedback from the travelers Feedback on the itinerary shall be collected. Inclusion of the changes in the itinerary Changes shall be made in the travel itinerary. Finalization of the itinerary Itinerary shall be confirmed and circulated. Check on the availability Availability check shall be performed on the hotels for each city as per the travel dates. Check on the reviews and ratings Hotel reviews and ratings shall be checked. Selection of the rooms Hotel rooms shall be selected. Payment for bookings Booking payments shall be made for confirmation of the booking. Distribution of tickets to the travelers Travelers shall be provided with the tickets along with their visas. Preparation of the closure report (Marle, 2014) Closure report of the project shall be prepared. Cost estimation Time-phased budget There are many project activities that will be carried out in the project of holiday trip with the company. A project budget is necessary for the project to make sure that the expenses associated with the project are determined in advance and are controlled at the time of project execution. The budget for this project has been designed using time phased budgeting technique. The entire project will be carried out in a period of four weeks and the project budget on the basis of these four weeks has been shown in the table below. Also, a chart displaying the budget as per the project progress has also been included. Holiday Trip with the Company Week 1 Week 2 Week 3 Week 4 1.1. Planning 1.1.1. Design of project budget and schedule 250 1.1.2. Project Scope finalization 200 1.1.3 Identification of travelers and Selection of the travel destination 150 1.1.4. Desired travel dates from the travelers 50 1.2. Booking of the tickets 1.2.1. Confirmation of travel dates 50 1.2.2. Gathering of demographic information 120 1.2.3. Booking of return tickets 12000 1.3. Visa Related Formalities 1.3.1. Collection of passports from the travelers 100 1.3.2. Collection of other required documents 100 1.3.3. Filling of the visa application 2500 1.3.4. Submission of visa 1000 1.3.5. Collection of the approved visa 1000 1.4. Itinerary preparation 1.4.1. Identification of the cities to be travelled in Australia 200 1.4.2. Identification of the places to visit in every city 200 1.4.3. Distribution of the itinerary to travelers 100 1.4.4. Acquiring of feedback from the travelers 150 1.4.5. Inclusion of the changes in the itinerary 350 1.4.6. Finalization of the itinerary 100 1.5. Hotel Bookings 1.5.1. Check on the availability 250 1.5.2. Check on the reviews and ratings 250 1.5.3. Selection of the rooms 250 1.5.4. Payment for bookings 15000 1.6. Finalization and Closure 1.6.1. Distribution of tickets to the travelers 250 1.6.2. Preparation of the closure report 300 Cost per week 12820 4700 1850 15550 Cumulative cost 12820 17520 19370 34920 Conclusion Project planning and management play a very important role for every project. In the project of holiday trip with the company, planning plays a crucial role. Project scope has been identified and included in the project scope statement. The entire project will take four weeks to complete and the budget allocated for the same is SGD 35,000. Significance of the project management tools such as Work Breakdown Structure (WBS) along with project schedule and budget are necessary to understand the project details. References Gulledge, T. (2002). Business process management: public sector implications. Business Process Management Journal, 8(4), 364-376. https://dx.doi.org/10.1108/14637150210435017 Henderson, L. (2004). Encoding and decoding communication competencies in project management ? an exploratory study. International Journal Of Project Management, 22(6), 469-476. https://dx.doi.org/10.1016/s0263-7863(04)00014-6 Mallery, M. (2011). Project Management Portal (PMP) from the University of Washington Information Technology Wiki - https://wiki.cac.washington.edu/display/pmportal/Project+Management+Portal. Technical Services Quarterly, 28(3), 365-367. https://dx.doi.org/10.1080/07317131.2011.574546 Marle, F. (2014). Assisting project risk management method selection. International Journal Of Project Organisation And Management, 6(3), 254. https://dx.doi.org/10.1504/ijpom.2014.065255 Mohapatra, S., Patnaik, A. (2011). Sustainability in HRIS implementation through effective project management. International Journal Of Project Organisation And Management, 3(1), 78. https://dx.doi.org/10.1504/ijpom.2011.038865 Seethamraju, R. (2012). Business process management: a missing link in business education. Business Process Management Journal, 18(3), 532-547. https://dx.doi.org/10.1108/14637151211232696 Sunde, L. (2011). Net-present-value cost/time tradeoff. International Journal Of Project Management, 13(1), 45-49. https://dx.doi.org/10.1016/0263-7863(95)95703-g Yang, Y., Tamir, G. (2015). Offshore software project management: mapping project success factors. International Journal Of Project Organisation And Management, 7(2), 111. https://dx.doi.org/10.1504/ijpom.2015.069613