Banks have changed and evolved - Free Essay Example

Sample details Pages: 11 Words: 3448 Downloads: 7 Date added: 2017/06/26 Category Economics Essay Type Analytical essay Did you like this example? The growth of the banking sector since its creation in the 1600à ¢Ã¢â€š ¬Ã¢â€ž ¢s has allowed for banks to change and evolve into being more than just a business. Critically discuss how, through the ages, banks have changed and evolved. Make reference in your answer to how regulation, financial crisis and societies needs have aided this banking evolution. Don’t waste time! Our writers will create an original "Banks have changed and evolved" essay for you Create order B. 1. What is a bank? There is no comprehensive legal definition of the term à ¢Ã¢â€š ¬Ã‹Å"bankà ¢Ã¢â€š ¬Ã¢â€ž ¢, à ¢Ã¢â€š ¬Ã‹Å"bankerà ¢Ã¢â€š ¬Ã¢â€ž ¢ or à ¢Ã¢â€š ¬Ã‹Å"bankingà ¢Ã¢â€š ¬Ã¢â€ž ¢. So to define these concepts, people has to look at the particular circumstances in which the precise meaning of them arises. The most common circumstances are: the area of bank regulation; where rights and duties are granted to banks; and where there is an effort to eschew a payment obligation that it arose on an illegal contract, which is void or unenforceable because it is owed by or to an unlicensed bank.[1] There are two reasons why the common law definition of these concepts remains important. The first one is under law, certain rights and duties are only conferred on a à ¢Ã¢â€š ¬Ã‹Å"bankà ¢Ã¢â€š ¬Ã¢â€ž ¢ or à ¢Ã¢â€š ¬Ã‹Å"bankerà ¢Ã¢â€š ¬Ã¢â€ž ¢, e.g. the bankerà ¢Ã¢â€š ¬Ã¢â€ž ¢s duty of confidentiality. The second one is some rules use the term à ¢Ã¢â€š ¬Ã‹Å"bank à ¢Ã¢â€š ¬Ã¢â€ž ¢, à ¢Ã¢â€š ¬Ã‹Å"bankerà ¢Ã¢â€š ¬Ã¢â€ž ¢ or à ¢Ã¢â€š ¬Ã‹Å"bankingà ¢Ã¢â€š ¬Ã¢â€ž ¢ without an accurate definition. We can see it clearer in the case of Kirkwood:[2] Kirkwoodà ¢Ã¢â€š ¬Ã¢â€ž ¢s defence was that UDT could not recover on a debt because they were neither an unregistered moneylender nor a bank and the loan was illegal as it infringed the provisions of the Moneylenders Act 1990. Lord Denninghas stated that: à ¢Ã¢â€š ¬Ã‹Å"Parliament has conferred many privileges on banks and bankers, but it has never defined what is a bank and who is a banker. It has said many times that a banker is a person who carries on the business of banking, but it has never told us what the business of banking is. It has imposed penalties on persons who describe themselves as a bank or bankers when they are not, but it has never told us how to decide whether or not they are bankers.à ¢Ã¢â€š ¬Ã¢â€ž ¢[3] To determine if a person is a banker or not, the Court specified thre e elements: the nature of the banking services provided; the fame of the organization; the importance of these services in relation to business as a whole.[4] The characteristics of banking was: accepting money and collecting cheques for their customers and place them to the credit of the customersà ¢Ã¢â€š ¬Ã¢â€ž ¢ accounts; honouring cheques or orders drawn on bankers by their customers when presented for payment and debiting their customers accordingly; keeping current accounts, or something of that nature, in which debits and credits were entered.[5] Hsiao enounced that a bank must have only two distinctive elements, namely deposit taking and cheque collection.[6] However he then rejected the possibility of this definition in answering the question: à ¢Ã¢â€š ¬Ã‹Å"what is a bank?à ¢Ã¢â€š ¬Ã¢â€ž ¢ Because banks are classified in different ways, some institutions will fall into the banking category despite not having two elements stated in the Kirkwood case.[7] The answer f or this problem can be found in some statutes. According to the European Union, a bank can be understood as à ¢Ã¢â€š ¬Ã‹Å"an undertaking the business of which is to receive deposits or other repayable funds from the public and to grant credits for its own accountà ¢Ã¢â€š ¬Ã¢â€ž ¢.[8] The Banking Act 2009 defines that à ¢Ã¢â€š ¬Ã‹Å"bank means a UK institution which has permission under of the Financial the regulated activity of accepting deposits.à ¢Ã¢â€š ¬Ã¢â€ž ¢[9] Pursuant to The Bills of Exchange Act 1882, a à ¢Ã¢â€š ¬Ã‹Å"banker includes a body of persons whether incorporated or not who carry on the business of bankingà ¢Ã¢â€š ¬Ã¢â€ž ¢[10] 2. The invention of banking in United Kingdom Galbraith argues the ambiguous beginnings of the bankers. He claims that banks are à ¢Ã¢â€š ¬Ã‹Å"an exceedingly old idea. Banking has a substantial existence in Roman times So far as any business can be given ethnic association, banking belongs to the Italians.à ¢Ã¢â€š ¬Ã¢â€ž ¢[11] In United Kingdom, the banking system extensively developed without the interference by government. It started due to the renting-vault of the goldsmithà ¢Ã¢â€š ¬Ã¢â€ž ¢s banker.[12] They had been recognized as reliable keepers of money for people without their own safe vault. At this beginning time, the goldsmith banks were only for wealthy people.[13] In 1640, Charles I seized the gold of the Royal Mint. This action made the trust and belief in goldsmith banks grew up so fast, although later Charles I repaid all the money. In 1660, the bank notes were first introduced as the goldsmith drawn notes, by which a depositor sent his goldsmith a letter to authorize the acquittance to his creditor of the sum owed. The creditor would take this note to the depositors goldsmith and received the payment in cash. They have been compared with modern day cheuqes. This function promoted bank lending and goldsmiths could perform both position of borrowers and depositors. In 1664, Charles II bo rrowed  £1,300,000 from the goldsmiths to build a sailing armada. But later he failed to repay this debt and the Exchequer suspended the repayment. This juncture raised an anxiety about the lender policies of the goldsmiths. This industry was becoming a risk business, so goldsmiths decided to have à ¢Ã¢â€š ¬Ã‹Å"bankà ¢Ã¢â€š ¬Ã¢â€ž ¢ separately developed from their usual business. They called themselves à ¢Ã¢â€š ¬Ã‹Å"bankersà ¢Ã¢â€š ¬Ã¢â€ž ¢ but indeed they were still goldsmiths. Goldsmith bankers had created an infallible system of private banking, which were developed into the famous banking firms, some of them still exist today. Orsinger wrote that à ¢Ã¢â€š ¬Ã‹Å"in 1801 one could count sixty-eight private banks which were their direct descendantsà ¢Ã¢â€š ¬Ã¢â€ž ¢.[14] C. The banking evolution through ages in UK 1. In 17th Century An important step towards the modern banking was the founding of The Bank of England by the enactment of The Bank of England Act 1694. Its original purpose was to raise money for the war with France, along with another intention was to à ¢Ã¢â€š ¬Ã‹Å"act as the Governmentà ¢Ã¢â€š ¬Ã¢â€ž ¢s banker and debt-managerà ¢Ã¢â€š ¬Ã¢â€ž ¢. The original capital of the bank was  £1,200,000. It provided a same amount loan to the Government with the interest was about  £100,000 per year. The Government did not repay the loan until 1706, but in exchange the bank was awarded a Royal Charter. It exactly did the same kind of business goldsmiths were doing already: printing their own notes and lending money of their own creation. Parliament brought out an act to regulate financial activity in the United Kingdom occurred on 1697 that gave heavy penalties, both financial and physical to those worked within the à ¢Ã¢â€š ¬Ã‹Å"City of Londonà ¢Ã¢â€š ¬Ã¢â€ž ¢ without a license annually by the Court of Alderman.[15] This regulation only had effect until the early eighteenth century.[16] According to Gilligan, th e 1697 Act was à ¢Ã¢â€š ¬Ã‹Å"a crucial legislative initiative because it was the first attempt by any government to impose certain standards of probity and competence upon those dealing in the embryonic securities marketà ¢Ã¢â€š ¬Ã¢â€ž ¢.[17] The creation of the Bank of England prescribed an entirely new backbone and regulatory mechanism to the modern banking sector. Even though, it was a long and hard process, the Government still tried to bring banking to the majority of society. They also started to manage a transparent financial market as well. 2. In 18th Century Banksà ¢Ã¢â€š ¬Ã¢â€ž ¢ services kept increasing: such as clearing facilities, security investments and over draft protections. Due to the appropriateness of depositing their surplus balances, the Bank of England changed it owner and became the Governmentà ¢Ã¢â€š ¬Ã¢â€ž ¢s bank. A new Charter of Parliament in 1708, which clause prohibited note issue to any banks with more than six partners, did not trammel i ndividual goldsmiths bankers. But detained the establishment of joint-stock banking in England until the following century. It was recognized as a solution to keep private bank as small partnerships. The Industrial Revolution further helped to enlarge the number of banks in United Kingdom, especially within London. Moreover, it changed the idea that the banks were not only for the upper classes but also for ordinary people.[18] In a parallel development, there was a separate system of banking was evolving in the provinces. Since the transport and communications in Midland and Northern regions did not exist, the London goldsmiths bankers had failed to develop their system outside London. The Industrial Revolution created a need for financial service, especially at growing industrial and port cities such asBirmingham,Liverpool Manchester,and Newcastle. These countryside bankers were local industrialists and traders, who already had experiences in monetary transaction. There were some similar between à ¢Ã¢â€š ¬Ã‹Å"industrialist bankersà ¢Ã¢â€š ¬Ã¢â€ž ¢ and the early goldsmith bankers. By 1784, there were 119 provincial banks outside London. The Industrial Revolution had done a lot of things. Firstly, it broadened the popular of banks in industrial society but they were still not an approachable facility for everyone. They absolutely focused on the upper class and merchant. Just because the bankers still think about the à ¢Ã¢â€š ¬Ã‹Å"making-moneyà ¢Ã¢â€š ¬Ã¢â€ž ¢ purpose more than their responsibility towards society as a whole. Secondly, with the enlargement the scope of enterprise, it was necessary for banks with more than six partners, so that larger resources could be gathered. The Charter in 1708 should be abolished. 3. In 19th Century The banking sector in United Kingdom started to transform. The banking industry and legislators finally understood that ordinary people also had the need to use the banksà ¢Ã¢â€š ¬Ã¢â€ž ¢ facilities.[19] In 1810, The Rothwell Savings Bank, the first saving bank initiated by Henry Duncan, was created. It was the pioneer in encouraging the poor to save and later France as well as Holland also applied this banking model due to its success in Britain.[20] In the 18th century, it was illegal to form a bank with more than six partners. But a Newcastle timber merchant, Thomas Joplin disagreed with that regulatory. Joplin believed that the increasing in number of financial undertakingsà ¢Ã¢â€š ¬Ã¢â€ž ¢ partners would gather greater resources and reduce risks. That opinion was rejected by Parliament. Fortunately, a banking crisis in 1825, which led to new Act in 1826,[21] made Joplinà ¢Ã¢â€š ¬Ã¢â€ž ¢s opinion came true. The new Act permitted à ¢Ã¢â€š ¬Ã‹Å"the establishment of co-partnerships with any number of shareholders and right of note issue outside a radius of sixty-five miles from the City of Londonà ¢Ã¢â€š ¬Ã¢â€ž ¢.[22] The first joint-stock bank was Lancaster Banking Company in 1826. With the advantage in large amounts of capital, the joint-stock banks began to absorb the private banks, making larger businesses. They then developed more branches, a huge system which attempted to bring a more stable structure that suited to the needs of the Industrial Revolution. In this period, the banks completely adopted the idea appeared during the Industrial Revolution, that the ordinary people could use banks as well as wealthy people.[23] It attracted a lot of people who had already owned accounts and who had just used these financial services for the first time. The development of branches had their own benefits, but also showed the limit in poor communications and lack of skilled men. Robert Paul described about this problem: à ¢Ã¢â€š ¬Ã‹Å"that branches were accompanied with so much hazard, required such constant watching and inspection, and involved us altogether in such a degree of superintendence that, upon the whole, my general impression is that the branch es are not the most advantageous part of our business.à ¢Ã¢â€š ¬Ã¢â€ž ¢ 4. In Modern Era The banking system during this time was affected by two World Wars. A group of bank in control of government performed a series of takeovers and mergers. They were called à ¢Ã¢â€š ¬Ã‹Å"Big Fiveà ¢Ã¢â€š ¬Ã¢â€ž ¢, including these well-known banks: Barclay, Lloyds, Midland, National Provincial, and Westminster. Along with it was the global financial crisis of 1929-1932, many banks experienced serious difficulties at that time. To deal with it, they used the strategy to accost less wealthy customers and introduce small saving packages. It was not until 1950 for a recovery which showed a large extend in provincial branch offices and the appearance of the high street banks. From the 17th century to this century, there wasnà ¢Ã¢â€š ¬Ã¢â€ž ¢t any direct legislation applied to the financial services industry until 1939.[24] The Prevention of Fraud (Investment) Act 1939 was the first major pi ece of legislation that had object to protect the right of investors. Unlicensed dealing was treated as a criminal offence. The 1939 Act was altered by the Prevention of Fraud (Investment) Amendment Act 1958, which provided the Board of Trade the competence to appoint surveyors to investigate the administration of unit trusts.[25] Gillian complimented that these two legislations à ¢Ã¢â€š ¬Ã‹Å"were notable for the improvements they brought in licensing standardsà ¢Ã¢â€š ¬Ã¢â€ž ¢.[26] But according to Fisher and Bewey, these two were only regulated a small part of investment business and their practical were limited.[27] In the wake of the secondary banking crisis of 1973-1975, the Parliament of the United Kingdom promulgated the Banking Act 1979. The Bank of Englandà ¢Ã¢â€š ¬Ã¢â€ž ¢s regulatory powers over banks was extended and their depositors were provided better protections. However, this 1979 Act did not have enough deterrence to stop the influence of the secondary banking crisis. The omission of banking regulation under the 1979 Act was clearly showed in the bankruptcy of Johnson Matthey Bank. The Bank of England took over the running of JMB and supplied it a financial rescue package of  £245m. Ellinger enounced that à ¢Ã¢â€š ¬Ã‹Å"if JMB had been subjected to the more stringent supervision applies to licensed deposit-takers; its financial difficulties would have been discovered earlierà ¢Ã¢â€š ¬Ã‚ ¦ following the JMB affair, the question of bank supervision was reviewed by a Committee set up by the Chancellor 1984 and chaired by the governor of the Bank of Englandà ¢Ã¢â€š ¬Ã¢â€ž ¢.[28] Between 1974 and 1976, the Labour Government conducted complete statutory overhaul of the Prevention of Fraud (Investments) Acts and led to the Financial Services Act 1986. In 1981 with the need for a new system of financial regulation, this reform process started and Professor Gower was appointed to undertake a detailed review of the legislative protecti on. On his report in 1983, Professor Gower propounded that a new Investor Protection Act should be enacted to replace the Prevention of Fraud (Investment) Acts, based upon self-regulation, subject to government surveillance.[29] In October 1984, the government endorsed a majority of the recommendations made by Professor Gower and published a White Paper.[30] The 1986 Act came into effect on 29 April 1988. It had wider scope than the Prevention of Fraud (Investments) Acts.[31] However, the 1986 Act did not regulate all aspect of the financial services sector, such as banking sector.[32] Along with it, the bankruptcy of JMB gave rise to the promulgation of the Banking Act 1987. It mostly abolished and substituted the 1979 Act. The 1987 Act had aim to provide a strict supervision in banking activities and to protect depositorà ¢Ã¢â€š ¬Ã¢â€ž ¢s interest. But it did not manage the bankerà ¢Ã¢â€š ¬Ã¢â€ž ¢ transactions, consumer protection or technological advancements. Arora enounced that the Banking Act 1987 à ¢Ã¢â€š ¬Ã‹Å"considerable reinforced the powers of the Bank of England to advise, supervise and control the banking sector.à ¢Ã¢â€š ¬Ã¢â€ž ¢[33] The Banking Act 1998 transferred the Bank of Englandà ¢Ã¢â€š ¬Ã¢â€ž ¢s powers and responsibilities for the supervision of the banking sector and wholesale money market institutions to the Financial Services Authority (FSA), which was previous held by the 1987 Act.[34] Taylor took an opinion that à ¢Ã¢â€š ¬Ã‹Å"the Bank of England Act 1998 amounts to one of the most significant changes to the Bankà ¢Ã¢â€š ¬Ã¢â€ž ¢s governance, role and functions in its 300-year history. It is certainly the most significant legislative change to affect the Bank since nationalization in 1946à ¢Ã¢â€š ¬Ã¢â€ž ¢.[35] In 1997, the Government changed from Conservative to Labour and led to the introduction of many new financial regulations. The first one was the Financial Services and Markets Act (FSMA) 2000. It provided an adeq uate statutory framework for the FSA replacing the different frameworks under which the various regulators would operate.[36] The main function of the Act was à ¢Ã¢â€š ¬Ã‹Å"to create a unified system of statutory regulation to preside over the financial services marketà ¢Ã¢â€š ¬Ã¢â€ž ¢,[37] in which the regulation of mortgages and general insurance business is also covered. But the enactment of FSMA was not effective enough to stop the bankruptcy of Northern Rock[38] and the financial crisis in 2007. All of this event revealed the uncertainty of the UK banking sector and the disadvantages in financial regulation. The Bank of England had to offer a loan to Northern Rock. Lord Lawson criticized that à ¢Ã¢â€š ¬Ã‹Å"maintaining Northern Rock is simply exposing the taxpayer to risk, raising issues of unfair competition and continuing a bad reputation for the UK in this field.à ¢Ã¢â€š ¬Ã¢â€ž ¢[39] Because the old Banking Acts couldnà ¢Ã¢â€š ¬Ã¢â€ž ¢t stop the crisis, the Parliament has issued the new Banking Act 2009. It regulates new aspects: the special resolution regime; the bank administration procedure; the new bank insolvency procedure; inter-bank payments systems; financial services compensation scheme; and to strengthen the role of the Bank of England. The Economist declaimed that the Act à ¢Ã¢â€š ¬Ã‹Å"shows a change in philosophy by the Government and regulators alike.à ¢Ã¢â€š ¬Ã¢â€ž ¢[40] Its purpose is to give the bank time to react internally before the media and the customers become aware of the bank troubles. The 2009 Act is just a solution to a single situation but not a cure for future problems. The Financial Services Act 2010 increases FSA statutory power in different aspects, including: consumer awareness, recovery plans for banks and remuneration policies. What the Act aims to do is to give the bank time to react internally before the media and the customers become aware of the bank troubles. This clause causes controversy. Peter Thal-Larsen propounded that the Act will basically allow financial authorities to take early action to move savers deposits from a failing bank before tackling other problems without causing widespread panic. The idea is that, if there is a bank that gets into trouble, to insulate it and make the wider impact of that less, but I dont think they can actually stop banks from getting into trouble in the future.[41] There is still a dichotomy here. The FSA and the respective financial legislation is meant to be transparent and customer focusing. By withholding information so that the banks can act quickly without bank runs, you are not allowing customers to chose what to do with theirown savings, in a timely fashion. This cloak of secrecy goes against the FSA ethos. Conversely, by withholding this information and throwing the cloak of secrecy around the banks shoulders you may be able to inhibit the panic that we saw in the Northern Rock case. Another point of view that could be entertained here is that with consumer confidence at an all time low, having a clause like this only heightens the mistrust of the banks. Consumers may feel even more isolated and excluded from being the master over their own monetary destiny. See lecture 12 on financial exclusion. [1] Ross Cranston, Principles of Banking Law (2002), 2nd edition, 5 [2] Case United Dominions Trust Ltd v Kirkwood [1966] 2 QB 431, Court of Appeal [3] ibid [4] ibid [5] ibid [6] Michael Hsiao, à ¢Ã¢â€š ¬Ã‹Å"Legitimised interference with private properties: Banking Act 2009à ¢Ã¢â€š ¬Ã¢â€ž ¢ (2010), 25(5) Journal of International Banking Law and Regulation, 227 [7] Ibid, 230 [8] EU Banking Directive 2006/48/EC, Article 4 [9] Banking Act 2009, section 2 [10] Bills of Exchange Act 1882, section 2 [11] John Kenneth Galbraith, Money whence it came, where it went (1975), London, Andre Deutsch Limited, 18. [12] Glyn Davies, A history of money From ancient times to the present day (1994) Cardiff, University of Wales. [13] ibid [14] Richard Orsinger, Banks of the world (1967), London, Macmillian Co Ltd, 40 [15] Jonathan Fisher and Jane Bewsey, The Law of Investor Protection (1997), London, 13 [16] Ibid [17] George Gillian, à ¢Ã¢â€š ¬Ã‹Å "The origins of UK financial services regulationà ¢Ã¢â€š ¬Ã¢â€ž ¢ (1997), 18(6) Company Lawyer 167, 171 [18] Dr Clare Chambers, Financial Education and Banking Regulation in the United Kingdom: A template Analysis (2004), Bournemouth University [19] Glyn Davies, A history of money From ancient times to the present day (1994) Cardiff, University of Wales. [20] John Kenneth Galbraith, Money whence it came, where it went (1975), London, Andre Deutsch Limited [21] ibid [22] Ronald Myles Fitzmaurice, British Banks and Banking (1975), D Bradford Barton Ltd [23] John Kenneth Galbraith, Money whence it came, where it went (1975), London, Andre Deutsch Limited [24] Nicholas Ryder, Margaret Griffiths and Lachmi Singh, Commercial Law principles and policy (2012), Cambridge University Press, 408. [25] ibid [26] George Gillian, à ¢Ã¢â€š ¬Ã‹Å"The origins of UK financial services regulationà ¢Ã¢â€š ¬Ã¢â€ž ¢ (1997), 18(6) Company Lawyer 167, 176 [27] Jonathan Fishe r and Jane Bewsey, The Law of Investor Protection (1997), London, 13 [28] Peter Ellinger, Eva Lomnicka and Richard Hooley, Ellingerà ¢Ã¢â€š ¬Ã¢â€ž ¢s Modern Banking Law(2006), Oxford, 33 [29] Review of Investor Protection, Cmnd.9125 (1984) [30] Financial Services in the UK: A New Framework for Investor Protection, Cmnd.9432 [31] Jonathan Fisher and Jane Bewsey, The Law of Investor Protection (1997), London, 16 [32] Nicholas Ryder, Margaret Griffiths and Lachmi Singh, Commercial Law principles and policy (2012), Cambridge University Press, 410 [33] Anu Arora, The Banking Act 1987: Part 1, The Company Lawyer (1998), 9(1) 10 [34] Bank of England Act 1998, s. 21. The Act transferred to the FSA the Bank of Englandà ¢Ã¢â€š ¬Ã¢â€ž ¢s supervision powers under the Banking Act 1987, the Banking Coordination (Second Council Directive) Regulations, s.101(4) of the Building Societies Act 1985, s.43 of the Financial Services Act 1986 and the Investment Services Regulations 1995. [35] Michael Blair, Ross Cranston, Chris Ryan and Michael Taylor,Blackstoneà ¢Ã¢â€š ¬Ã¢â€ž ¢s guide to the Bank of England Act 1998 (1998, London), 17. [36] FSA (2000). Legal Framework. London: FSA. [37] Professor Lorne Crerar,The Law of Banking in Scotland (2007), Tottel Publishing Ltd, Edinburgh,50 [38] The Economist. Greed Mash; and Fear. 22 January 2009. [39] David HenckeandNicholas Watt, Audit office launches inquiry into rescue,The Guardian, 21-2-08, 26. [40] The Economist, Barbarians at the vault, 15th May 2008. [41] BBC News. Banking Act comes into Affect. 21 February 2009. https://news.bbc.co.uk/1/hi/business/7902350.stm.

Social Factors For Homelessness - 1425 Words

Homelessness can be defined as individuals without access to secure, affordable supportive decent housing (Crisis, 2005). If you do not have the legal authority to reside in your home or it is deemed unsuitable you can still be homeless (Shelter, 2016). The term homelessness is usually associated with rough sleepers. However, it has been identified there are additional categories of homelessness. In addition to rough sleepers there are sofa surfers and those in local authority or privately rented temporary accommodation, within this population are homeless children. The homeless people that meet the local authority criteria are statutory homeless. The remaining population are non-statutory homeless, usually referred to as â€Å"hidden†¦show more content†¦It will further seek to explore the health issues and health service issues associated with the homeless population. In addition discuss government legislation and reports that are implemented to protect the homeless population and efforts to tackle the issue of homelessness in housing and accessing services. Furthermore, explore the relationship with recent government reform and the rise in homelessness. Equity represents access to resources that are needed to enhance and maintain health and health outcomes. The World Health Organization believe reducing health equity is fundamental to reducing health inequalities, this can be achieved through law reform and social and economic relationship rebalance. Health inequalities are unjustifiable disparities in relation to health outcomes between individuals and groups. Inequalities in health are greatly influenced by a combination of social and economic circumstances (WHO, 2016) The Black report (1980) established the relationship of health inequalities and social class. Income, unemployment, poor housing, poor environment and education were identified as social economical determinants. Though the nation’s health has improved, this is not equally distributed across the social classes. The risk of ill health increased down the social gradient and without government commitment to reduce poverty in the UK and spending more money on prevention of illness and health educationShow MoreRelatedSocial Problems Within The Australian Society1215 Words   |  5 PagesA Social Analysis – Homelessness There are a growing number of social problems existing within the Australian society and unfortunately, research does not need to prove this. All it takes is a stroll down the main street of some suburbs to realise the extent of social problems within society. Homelessness is a rising trend that is affecting people of all demographics. Homelessness is more than just a simple disadvantage; with usually many underpinning factors which contribute to it, such as domesticRead MoreSocial Problem Homelessness1065 Words   |  5 PagesApplication Social Problem Research: Homelessness Homelessness is becoming a major social issue in the United States, with many poor families and young people ending up in the street because of several reasons. This condition is leaving many people helpless in the streets and the number keep on rising on a daily basis. Cities like Detroit and New York are among the most populous with poor families and homeless people, making it important for government and other social agencies to find urgent solutionRead MoreHomelessness : Homeless Population, Origins And Consequences Of Homelessness1373 Words   |  6 PagesHomelessness Some background information on the prevalence of and risk factors for the homeless population, origins and consequences of homelessness, prevention and treatment strategies, and other considerations will be presented. The definition of homelessness may cover a broad range of individuals, including those physically deprived of a home and housed persons unwilling to remain in their homes (Ravenhill 6). Some researchers conceptualize homelessness as â€Å"alienation from the rest of the societyRead MoreThe Conflict Between Personal Experience And The Wider Society910 Words   |  4 PagesHomelessness has been a common and natural feature of a city throughout the world. While the public perceptions of these â€Å"undesirables† are lazy, dangerous, and ignorant, it is not solely their fault and choice to be on the streets. Sociological imagination, as coined and defined by C. Wright Mills, is â€Å"the vivid awareness of the relationship between personal experience and the wider society†. Simply put, it is the ability to interpret situations and circumstances in terms of social context and understandRead MoreThe Emotional, Social, And Academic Effects Of Homelessness On Children1291 Wor ds   |  6 Pages01/22/2015 The emotional, social, and academic effects of homelessness on children Hardly a day in life goes by without seeing a homeless child trying to survive, especially in developing countries. Unwanted sightings of homeless children happen every day both in developed and underdeveloped countries. The increase in divorce and trend in cohabitation has led to an increasing number of children being homeless. As stated in the â€Å" Homeless Facts Children and Homelessness - Some Facts conducted byRead MoreVulnerable Populations1503 Words   |  7 Pagesthe streets, trains, and alley ways to name a few places where homeless people seek shelter. The history of homelessness, social problems, demographics, common clinical issues, and intervention/future interventions will be explored to determinate how homelessness is caused and how it can diminish with time. Homelessness has been around for some time and is increasing with time. Homelessness was noticed soon after the Great Depression, which caused many people to lose his or hers home. â€Å"During theRead MoreThe Social Issue Of Homelessness1138 Words   |  5 Pages Homelessness Catherine Vivi ABS 497 Applied Behavioral Sciences Capstone Instructor Theresa Cruz June 29, 2015 Ashford University â€Æ' â€Æ' Homelessness Lakeland is a city in Polk County, Florida, United States, located between the two larger cities in central Florida those being Tampa to the west and Orlando to the east. While interventions to interrupt and end homelessness may vary across groups, ending homelessness permanently requires housing combined with the types of services supported by programsRead MoreThe Outcasts Of Society, The Lazy And Incompetent, Or The Victims Of Extreme Misfortunes?1607 Words   |  7 Pagesculture of homelessness, we will demystify, learning the how’s, when’s and why’s. It is essential not to get lost within the presentation of stats and facts. But, to digest the information, reverting it back to our own lives. In doing so, we will see how near or far we are to the brinks of homelessness. Careful! As the degrees of separation maybe not be so plentiful.† Homelessness According to a recent point in time by a survey provided by the National Alliance to End Homelessness, an estimatedRead MoreThe Issue Of Homelessness And School Social Work1554 Words   |  7 PagesJournal Articles Review SWK 190 Introduction to Social Work Section 01 Lauren Cartwright 2/18/16 Introduction Social work continues to be a necessary and important profession because there are such a wide variety and abundance of social issues that exist in the world today. Among these issues, one of great prevalence is homelessness. Homelessness is an important problem that needs to be directly addressed because it can lead to many other problems as well. Problems such as poor academicRead MoreSociological Perspective on Homelessness1248 Words   |  5 PagesPerspective on Homelessness Homelessness is a social problem that is prevalent around the world. Homelessness has existed for much of civilized human history. In the last two centuries, homelessness and changed and expanded. Sociologists who study and research homelessness have argued over its formal definition for decades, though for some, the definition of homelessness seems self explanatory and obvious. The paper will examine homelessness, particularly as a sociological issue, or a social issue seen

The Crucible Play Review An Overall Look And Detailed

The Crucible Play Review With an Overall Look and Detailed Look into Specific Design Aspects Garrett L. Mize Lonestar College- Kingwood Author Notes Garrett L. Mize, Student at Lonestar College. Garrett L. Mize, Still a Student at Lonestar College. This research was self funded by the parties named. Correspondence concerning this article should be addressed to Garrett Mize, Kingwood TX, 77381 Contact: mize.garrett@gmail.com I attended â€Å"The Crucible†, at Lonestar College. The play was held in the main theatre in the Performing Arts Center at Lonestar Kingwood College. The crowd was moderately large, not sold out but the seats were generally filled. The audience varied in age and persons. I majority was a younger crowd, less than 35 years of age. Most of the audience was dressed more casually, no one was super formal and because of the nature of the play being near Halloween, there were a few costumes that were being worn to the event. â€Å"The Crucible† was written during the time of the Cold War. America was not only fighting a silent war with Russia, but an internal one with itself. There was a large scare of finding communists on American soil, and it scared the US population. â€Å"The Crucible† is an account of the Salem Witch Trials, which was a scare in the early years of America in search of witches. The reason the author wrote the play was to compare the two events and to show how the Communist hunt was like the witch hunt in the sense of how it isShow MoreRelatedBusiness Analysis : Emirates Group3084 Words   |  13 Pagescompetitive industry/market while supporting a successful and rapid Network growth, this study will identify how Emirates needs to embrace customer service as part of their overall corporate culture and a focal point amongst their employees. Customer service excellence will lead to increase in sales, repeat buyers, market expansion and overall profitability and survival of the Airline. The study attempts to focus on one of the main aspects of delivering customer service – the people factor which is theirRead MoreMedia Magic Making Class Invisible2198 Words   |  9 Pagessupports his statement that the class you are in effects you in the classroom and your level of achievement, by using statistics from researcher William Sewell. Sewell à ¢Ã¢â€š ¬Ã…“showed a positive correlation between class and overall educational achievement. In comparing the top quartile (25%) of his sample to the bottom quartile, he found that students from upper-class families were twice as likely to obtain training beyond high school and four times as likely to attain a postgraduate degreeà ¢Ã¢â€š ¬Ã‚  (pp.342-343)Read MoreGrading System Rationale6250 Words   |  25 Pagesin order to separate achievement grades from marks related to learning skills, work habits, or effort, but such practices are not widespread. Research Findings Over the years, grading and reporting have remained favorite topics for researchers. A review of the Educational Resources Information Center (ERIC) system, for example, yields a reference list of more than 4,000 citations. Most of these references are essays about problems in grading and what should be done about them. The research studiesRead MoreLeadership Development42674 Words   |  171 PagesPerren have provided special reviews on corporate management and leadership development strategies, leadership and the development of management and leadership capability in small and medium enterprises respectively. The general approach to the project, locating specific studies, drawing conclusions from these, and the judgements about useful future research priorities have been informed by discussions in the network group and comments by its individual members as the review has progressed. The membersRead MoreImproving Profitability By Applying Sustainable Strategies9898 Words   |  4 0 Pages cocktails and a light menu in the evening. The Cafà ©, on Regent Street, revives the European tradition of cafà © culture. The Club at Cafe Royal is the hotel s latest offering, conceived to ensure that the Regent Street venue once again becomes a crucible for writers, artists, poets, musicians. The Club celebrates a long legacy of famed patrons as it welcomes the return of today’s leaders and stars from the literary, art and fashion worlds. Occupying the first floor of the stunning Grade II listedRead MoreStephen P. Robbins Timothy A. Judge (2011) Organizational Behaviour 15th Edition New Jersey: Prentice Hall393164 Words   |  1573 Pages1 1 Introduction What Is Organizational Behavior? 3 The Importance of Interpersonal Skills 4 What Managers Do 5 Management Functions 6 †¢ Management Roles 6 †¢ Management Skills 8 †¢ Effective versus Successful Managerial Activities 8 †¢ A Review of the Manager’s Job 9 Enter Organizational Behavior 10 Complementing Intuition with Systematic Study 11 Disciplines That Contribute to the OB Field 13 Psychology 14 †¢ Social Psychology 14 †¢ Sociology 14 †¢ Anthropology 14 There Are Few Absolutes inRead MoreLangston Hughes Research Paper25309 Words   |  102 Pageshim on the way home from school, but many new friends defended him. In school, Langston became a popular leader because he made excellent grades and got along with everyone. Soon, Carrie left Langston with Grandmother Mary again so that she could look for work. Meals at Grandmother Marys often consisted of nothing more than salt pork and dandelion greens plucked from the yard. When a mortgage payment came due, and there was no food in the house, she rented her home to college students. She andRead MoreAn Impact Assessment of Science and Technology Policy on National Development of Nigeria61708 Words   |  247 Pagesindustrialization and development. It is in recognition of these observations that the study attempted to assess the impact of science and technology policy on national development of Nigeria. To carry out the assessment study, extensive literature review was carried out which formed the background knowledge to the study as well as provided the necessary input to the discussion of the findings from the study. The data generated from interviews and questionnaires were analyzed using quantitativeRead MoreEssay on Silent Spring - Rachel Carson30092 Words   |  121 Pageschanging her major to biology after taking a class taught by a captivating young zoology professor named Mary Scott Skinner. In 1929, after graduating with high honors, the writer who would someday earn fame for her work on marine life got her first look at the sea as a summer intern at Woods Hole Laboratory on Cape Cod. Later that year, Carson began graduate work in zoology at Johns Hopkins University, but in 1935, when her father suddenly died, family responsibilities put an end to her formal studiesRead MoreTerrorism in Southeast Asia17760 Words   |  72 Pagespolitical sensitivity of the issue with both mainstream Islamic and secular nationalist groups. The Muslim insurgency in southern Thailand has escalated in recent years as has terrorist activity in southern areas of the Philippines. The report looks at the rise of Islamist militancy and the JI network, and discusses terrorism in the region, concluding with options for U.S. policy. Strategies include placing greater emphasis on attacking institutions that support terrorism, building up regional

Essay about Disappointment in Kate Chopins Story of an Hour

Disappointment in The Story of an Hour The Story of an Hour is a short story in which Kate Chopin, the author, presents an often unheard of view of marriage. Published in the late eighteen hundreds, the oppressive nature of marriage in The Story of an Hour may well be a reflection of, though not exclusive to, that era. Mrs. Louise Mallard, Chopins main character, experiences the exhilaration of freedom rather than the desolation of loneliness after she learns of her husbands death. Later, when Mrs. Mallard learns that her husband, Brently, still lives, she know that all hope of freedom is gone. The crushing disappointment kills Mrs. Mallard. Though Chopin relates†¦show more content†¦Mallard in everything she does. When Mrs. Mallard learns of her husbands death, she realizes that he will no longer be there to repress her; there will be no one, save her, to direct her will. Then, in a crushing blow, everything she has just realized and begun to look forward to is stolen from her grasp. Upon learning of her husbands death, Mrs. Mallard realizes that she is now free. She repeats the words Free, free, free! (paragraph 11) and feels her body come alive. Her pulse beats faster; her blood runs warmer; her eyes brighten (paragraph 11). Mrs. Mallard knows that from now on she can live for herself and no one else, that all sort of days...would be her own (paragraph 19). Mrs. Mallard sees the chance to live out the rest of her days for herself; she sees the opportunity to be her own person. Mrs. Mallard now looks forward to a long life. She had previously dreaded the years ahead spent under the thumb of her husband (paragraph 19). Now, though, Mrs. Mallard is someone who has much to look forward to and many joys to appreciate. This opportunity is taken from her just as her chance of freedom is taken from her when she learns that Brently still lives. When Mrs. Mallard sees Brently walk through the front door,Show MoreRelatedKate Chopin s Literary Creativity And Women s Independence1097 Words   |  5 Pages Kate Chopin has become one of the most influential feminist writers of the century. From Chopin’s literary rejection of The Awakening, the rejection sparked a fire in Chopin’s feminist side. Chopin began writing short stories that would become society’s lead in literary creativity and women’s independence. Kate Chopin’s biography is astonishingly intriguing and the importance Chopin plays to the feminist literature genre is exceptional. Critics either rave Chopin’s work or completely destroy itRead MoreLouise Mallard’s Demise in â€Å"The Story of an Hour† by Kate Chopin600 Words   |  3 PagesLouise Mallard’s Demise in â€Å"The Story of an Hour† by Kate Chopin Kate Chopin’s short story, â€Å"The Story of an Hour†, is about a woman, named Louise Mallard, in the late 1800s who is told that her husband, Brently, has died in a railroad accident. Initially, Louise is surprised, distressed, and drowned in sorrow. After mourning the loss, the woman realizes that she is finally free and independent, and that the only person she has to live for is herself. She becomes overwhelmed with joy about her newRead Moreâ€Å"The Story of an Hour† by Kate Chopin Essay922 Words   |  4 PagesKate Chopin’s The Story of an Hour is a brilliant short story of irony and emotion. The story demonstrates conflicts that take us through the character’s emotions as she finds out about the death of her husband. Without the well written series of conflicts and events this story, the reader would not understand the depth of Mrs. Mallard’s inner conflict and the resolution at the end of the story. The conflict allows us to follo w the emotions and unfold the irony of the situation in â€Å"The Story of anRead MoreEssay on Freedom in Kate Chopins The Story of An Hour1087 Words   |  5 PagesFreedom in Kate Chopins The Story of An Hour In Kate Chopins The Story of An Hour the theme is found within the concept of how someone can be trapped in a repressive, unsatisfying reality because of anothers thoughtless oppression and manipulation. When combined with the contemporary societys beliefs --- presumably the later half of the 19th century for this story -- a further understanding of Chopins thoughts and feelings can be realized. Mrs. Louise Mallard, the victim and messengerRead MoreKate Chopin s The Awakening1198 Words   |  5 Pageswoman’s freedom is the driving force behind Kate Chopin’s contextual objections to propriety. In particular, The Awakening and â€Å"The Story of an Hour† explore the lives of women seeking marital liberation and individuality. Mrs. Chopin, who was raised in a matriarchal household, expresses her opposition to the nineteenth century patriarchal society while using her personal experiences to exemplify her feminist views. Katherine O’Flaherty, later Kate Chopin, was born to Eliza and Thomas O’FlahertyRead MoreEssay about Kate Chopin Short Stories1663 Words   |  7 PagesKate Chopin was an American feminist fiction writer and a woman ahead of her time. She lived in the socially conservative nineteenth-century, but in her stories, she wrote about unconventional characters, particularly women, that caused others to question her morality. Similar to the female characters in her stories, Kate Chopin was an independent woman. She would often smoke cigarettes or walk in the streets unaccompanied; these practices were considered unusual for a nineteenth-century woman toRead MoreStory Of An Hour Critical Analysis797 Words   |  4 PagesChopin’s goes in depth on several complex issues involving the females role in marriage. The story was originally published in 1894 a time when marriage was define by the man. A female transitioned from being a daughter into an arranged marriage, th is was a normal routine for most young women at the time. Leaving women with a lack of independence and much confusion regarding their marriage. The main character faces conflicting emotions at the reveal of her husbands death. She is then overtakenRead MoreAnalysis Of Kate Chopin s Story Of An Hour993 Words   |  4 PagesIrony in â€Å"Story of an Hour† In Kate Chopin’s short story â€Å"Story of an Hour†, Irony, or the expression of meaning that traditionally indicates the contrary of what is expected, plays a huge role in deciphering the theme and underlying motifs of the story that takes the reader through the hour of Mrs. Mallard’s life after her husband supposedly dies. Through Irony, Kate Chopin effectively portrays the forbidden joy of independence (SparkNotes Editors). The theme is portrayed by the author’s emphasisRead MoreThe Death From The Emotions1200 Words   |  5 Pagesthe Emotions In the short story The Story of an Hour written by Kate Chopin, Louise Mallard, the main character, is told that her husband, Mr. Brently Mallard, is dead in a railroad disaster. This short story is interesting mentioning the inner happenings of Louise character within an hour when she hears the news from her husband’s death until seeing her husband, peaceful and healthy, appearing at the downstairs. Although the story is told quite simple within only one hour of time, readers can realizeRead MoreThe Story of an Hour1203 Words   |  5 PagesAyodeji Ilesanmi Ms. Pape English 1302.626 February 23, 2012 Part One: Alternate ending to â€Å"The Story of an Hour† â€Å"Someone was opening the front door with a latchkey, it was Brently Mallard who entered, a little travel stained, composedly carrying his grip-sack and umbrella. He had been far from the scene of the accident, and did not even know there had been one. He stood amazed at Josephine s piercing cry; at Richards quick motion to screen him from the view of his wife† (Chopin, 16).

What are the impacts of tourism in a selected region of the UK Free Essays

Tourism is the industry that looks after the needs and welfare of tourists and provides the things that help them travel to places where they can relax and enjoy themselves. I am studying both the positive and negative impacts of tourism on the Lake District because the Lake District is being overwhelmed with tourists each year but without the income that tourism generates the Lake District wouldn’t survive. The Lake District is one of 15 National Parks across the UK which has 2 main purposes. We will write a custom essay sample on What are the impacts of tourism in a selected region of the UK? or any similar topic only for you Order Now – To enhance and preserve the natural beauty of the landscape. – To provide a place for recreation and enjoyment. A third aim is; – To protect the social and economic well being of people who live and/or work in the National Park. The positive impacts of tourism are associated with the economy and employment. Tourism can also start off a cycle known as the positive multiplier effect; the tourism industry locates in an area which provides jobs for locals. This gives workers more money to spend and so more local shops open and more jobs are created and so on and so on. But as well as positive impacts, there are also many negative impacts of tourism. The first is footpath erosion. This occurs when people (tourists in this case) are walking along a footpath, as they do they wear away the vegetation which loosens the soil and exposes the soil to the elements. Then when it rains the footpath becomes muddy and so people veer to the edges of the footpath to avoid the mud. The vegetation next to the path then becomes eroded until the footpath ends up like the picture above This is of course an extreme case but this footpath erosion literally ends up leaving a scar on the landscape. Since 1999 the National Trust has been trying to stop this happening by setting up a 10 year plan to repair and maintain the paths. This will cost an estimated à ¯Ã‚ ¿Ã‚ ½5.1 million of which à ¯Ã‚ ¿Ã‚ ½1.46 million has been donated by the Lottery Heritage Fund. This money will be spent on a number of different sustainable strategies like stone pitching. This is when local stone is buried into the ground to make footholds. Alternatively steps have been put on steep hillsides made from local stone so that they fit in with the rest of the natural landscape. The second negative impact of tourism is litter. When tourists visit the Lake District, some drop litter on the floor. People come to the Lake District to see the natural beauty of the countryside but are put off coming back because of the litter on the floor therefore the Lake District loses further income. Animals and their habitats are damaged because of pollution. Bins have been placed in many different areas of the Lake District, especially the honeypot sites to discourage this. Daily warden patrols have been set up to try to clean up any mess created. Conflict on Lake Windermere is another controversial issue in the Lake District. Since 1976 people have been worried about the disturbance of the peace on Lake Windermere by power boats etc. Surveys have revealed that on an average day there are 812 crafts on the water, of which 368 are speed boats. The reason for the conflict is that other lake users such as fishermen and canoeists want peaceful, safe conditions to undertake their leisure activities. Another concern is that the wake from speed boats is causing erosion along the banks of the lake. On the 29th March 2005 a 10 mph speed limit was introduced on the lake. This however did not benefit everyone because power boat enthusiasts had to find alternative locations to use and some local businesses (e.g. Jet Ski rental companies etc) had to modify their companies so they didn’t lose custom. I personally believe that we need to manage tourism in a sustainable way if we are to preserve the Lake District’s natural beauty for future generations. Strategies like the footpath maintenance may be extremely costly but in the future will benefit the Lake District’s economy and the people who live in and visit it. How to cite What are the impacts of tourism in a selected region of the UK?, Papers

Starting a Small Business Own Small Business

Question: Describe about the Starting a Small Business for Own Small Business . Answer: Introduction The key characteristics and issues related to start-up of a new business in Australia will be analysed in this report. The key proposals and limitations of the key proposals for the small businesses in the Australian budget 2015-2016 and 2016-2017 will be outlined (Barajas, 2007). Finally, the ALL structures and start-up modes will be identified and compared with each other and the best suitable ALL startup mode and ownership structure will be selected for the proposed business. For this report, the proposed new business of Cupcake Shop (Coctail Cupcake Shop) is selected here. Key proposals in the budget The Australian Government announced its budget for the small business owner on Tuesday, 3 May 2016. There are several key proposals in starting small businesses in Australia in the Australian budget 2015-2016 and 2016-2017:- An increase to small business tax discount rate- For the small businesses including sole traders, partnerships and other incorporated businesses having an annual turn-over of less than AUS$ 5 million, the tax discount rates will increase from 5% to 16% over the next 10 years commencing from 1 July 2016 to 25 June 2025. An increase to small business turnover threshold- The small business threshold turnover will increase from AUS$ 2million to AUS$10 million allowing the small business sectors to access the more small business tax concessions(Edwards, 2014). A Decrease to company tax rates- The company tax rates for the small businesses will reduce to 25% over the next 10 years commencing from 1 July 2016 to 25 June 2025. The company tax rates for the small businesses with an annual turnover of less than AUS$ 10 million, will decrease to 27.5% from 1 July to 2025. Importing and exporting tax- The goods and service tax for the low value goods imported by the small business will be extended from the financial year 2016-2017. TOFA Reforms- The taxation of financial arrangements (TOFA) rules will be reformed after 1 January 2018. Improving an access to asset backed financing- To improve the access to asset backed financing by removing uncertainty in the tax treatment of the small business asset backed financial arrangements will be treated in the same way as other financial arrangements, such as loans or investments for the tax purposes. Wage subsidies for the small business owners- The wage subsidies of upto AUS$ 10,000 will be provided over six months for the small business owners to employ the employees aged 25 or below. This will also include the subsidies upto AUS$ 6500 to the small business employers over six months for employing the most job seekers(Downs, 2015). Incentives for the small business owners- Incentives will be given upto AUS$ 1,000 for the small business owners to provide the employability skills training to the youth job seekers during an internship of six weeks. Changes to Div. 7A flagged- The changes will be incorporated to div. 7A flagged from July 2016. There are several limitations of the key proposals for the small businesses in Australia. Firstly, the small business owners can start-up businesses independently or franchising with others by making the initial capital investment upto AUS$ 10 million. The small business owners can have the maximum of 15 employees as directed by Australian trade regulations 2015-2016. The small business owners will have to pay the self-employment taxes as per Australian taxation policies and norms. The small business owners will have to prepare the financial statements including profit Loss A/c, Balance sheets, taxation statements, and financial audits(English Moate, 2011). The Australian government directs the small business owners to employ the young job seeker limited to age 25 in their organizations. Along with this, the small businesses should have the employer ID by registering the firm through certification and approval from the regional secretory office. Key characteristics and issues in starting and managing a small business There are several characteristics involved while starting and running a small business in Australia. These characteristics are followings as:- The small businesses are private owned corporations/legal entities/franchised enterprises owned by the small business owners in partnerships or sole proprietorship or corporations. To start a small business in Australia, the business owner requires an initial capital investment of less than AUD$ 10 million. The small businesses in Australia have limited employees ranging from minimum to 15 employees. The small businesses vary on the basis ofannual revenues, gross profits, sales, shipment, assets, and number of employees. The small businesses in Australia include Grocery stores, cupcake shops, convenience stores, restaurants, guesthouses, health clinic, accountancy office, business shops, internet cafe and small-scale manufacturing. The small scale enterprises are consistently regulated by the regulated government authorities and require employer ID, trade name, certification and registration and statement of payment of self-employment taxes(Hastings, (2011). The small businesses in Australia can also be started with low costs and are part-time basis, e.g. real estate business, hair salons. Franchising is a type of small-scale businesses where the small business owners (Franchisees) are benefited from the economies of scale of large business enterprises (franchisors). The small business owners have the benefits of strong brand name and purchasing power of the large companies with their own affordable investments The small business enterprises will face the legal issues, financial issues, expansion issues, HR issues, capital investment, and physical storage issues. For ex- the small business owners can have maximum of 15 employees in their business organizations. The small businesses in Australia can make the capital investment maximum upto 10 million AUD$. The small businesses will face the issues, such as following of legal structure, financial terms and conditions, size of balance sheets, registration of firm, certification and renewal of license. Some small businesses are regularly inspected by the government authorities, such as medical shop, health clinic, grocery shop, convenience stores, and agricultural shop(Roddick Rickman, 2005). The small businesses have to follow the trade policies, employment legislations, union laws, and taxation payment policies. Nature of a new or franchise enterprise in Australia The nature of the proposed business enterprise will be franchised resulting from the franchising contract betweena small cupcake shop (Franchisee) and large Australian cupcake company, Classic Cupcake Company (franchisor). This cupcake shop will leverage the benefits of brand name and purchasing power of Classic Cupcake Company. It will be opened in the mid of educational hub at Melbourne where range of schools, college, coaching institutes and corporate offices are located(Smith, 2012).The administration of cupcake shop will be in the hand of business owner who will form and regulate the rules, guidelines and decisions for the employees or working staff.This shop will have a trade or firm name, employer ID number, federal and state license, sales and use tax permit, and statement of provision of payment of self-employment taxes. All legal formalities will be fulfilled in a registered secretary office of a regional branch in Australia. The cupcake shop will be operated in an estimated area of 1500- 2000 square foot with the firm name of Coctail Cupcake Shop.The owner will make initial investment of AUS$ 100,000 for the overall business operations by crediting some money as loan from the banks and financial institutes.The proposed business of cupcake shop will have 13-15 employees including 1 shop manager, 1 marketing executive, 1 computer operator or receptionist, 2-3 cooking staff members, 3-4baristas, 1 greeter and 4-5 waiters etc. The shop manager will be responsible for the supervision and controlling the operations of cupcake shop who will give necessary guidelines and instructions for other staff members(Root, 2006).The proposed Cupcake Shop will offer a range of cupcake products in different flavors, sizes, and varieties. Along with this, it will offer additional food beverage items, such as snacks, teas, coffees, biscuits, juices, energy soft drinks, Sandwich, pasty, packed-ice creams and other food items. Identification and comparison of ALL start-up modes There are different types of ALL start up modes which are as following:- Franchising- This is a type of All start-up mode in the Franchisor sells its assets, goods, and services through the franchised agencies or stores by making franchising contract with the franchisee firm. The franchisor keeps ownership in his hands but it grants the right and authorities to the franchisee firm to sell the franchised products and services under the trademarks and brand name of franchisor firm. Exporting- This is a type of start-up mode in which the manufacturer or exporter exports the companys products and services to the foreign or overseas firms through its own distribution channels or other host companies in the foreign countries(Toolkit media Group, 2008). Joint ventures- This is a type of start-up mode in which the small business firm can start to sell the products and services of the multinational company with whom it makes trade contracts in the form of merger, acquisition, strategic alliance or take over. New business enterprise as whole subsidiary- This is a type of start-up mode in which the ownership remains in the hand of a business owner as wholly-owned subsidiary. In this type of business form, the single business enterprise is responsible for overall business operations, management control and financial obligations(Turner, 2011). Some other start-up modes include Investment in Online Businesses, Licensing, and Foreign Direct Investment. Comparison among different All Start-up modes Point of Difference Whole-Owned subsidiary Franchising Exporting Joint Ventures Ownership The single owner The ownership remains in the hand of franchisee but sells the products under franchisors brand name Exporting firm The members of strategic alliance or joint ventures Liability Personally liable for all financial obligations, management control and investment decisions Not personally liable because the losses are shared by franchisor Not personally liable the host company or distributional channels are also liable The members are not personally liable Source of financing Own source of financing through either own funds or credit from banks as loans Not individual financial sources as the franchisor is also involved to provide the financial assistance Own source of financing but involves the flow of funds through the exporting channels or host companies in the foreign countries The members are not personally liable for the source of financing Start-up mode selected for the business and rationale For the proposed cupcake business, the franchise enterprise is selected as a start-up mode which will result from the registering the franchise license granted by the large cupcake company of Australia, Classic Cupcake. The rationale behind choosing this start-up mode is that this is one of the safest and risk-free ways to start businesses. The company can also get benefit of the strong brand name, trademarks, and purchasing power of Classic Cupcake Company. The franchised form of small business enterprise will also providean opportunity to the franchisee firm to expand the businesses by accessing the large customer segments through using the brand identity of the franchiser. It will help in earning large profits and revenues through the large sales of the branded cupcake products. It will also assist in generating auto sales through the high brand awareness and customerloyalty(Curtis, 2012). It is effective to ensure the success of business because it is based on proven idea. The fr anchisor (Classic Cupcake Company) will give training to the franchisee (Coctail Cupcake Company) about the specialized branded products. The franchisor is an effective start-up business form because it will grant the rights and authorities to the franchisee to sell the franchised products in the selected territory or region. By using this start-up mode, it will be easy for the franchiseefirm to credit as loans from the banks as financial assistance for the firm. Comparison and contrast of ALL ownership structures There are different types of ownership structures for the small business enterprises operating in Australia. These ownership structures include sole proprietorship, Partnership, Limited Liability Company, and Corporation. These are following discussed as:- Sole Proprietorship- This is the simplest ownership structure which is owned by a single person who is responsible for all financial obligations, such as investment decisions, financial losses and profits, and sales of assets. This ownership structure is easy to form and operate in which the complete managerial control and power remains in the hand of single owner. Partnership- This is another ownership structure form of small business enterprises which is owned by two or more personsthrough making an agreement to make capital investment equally. The partners are equally responsible and personal liable to share the profits and losses(Smith, 2012). The decisions related to capital investments, product development, sale of goods and services, and business expansion, are taken by the partners collectively. Corporation- It is a type of legal entity,independent from the founder or ownerthat is created to conduct the overall business operations and activities. The ownership remains in the head of founder or business owner, but the business operations and activities are operated and controlled by these entities.The main advantage of this structure is avoidance of personal liability.S Corporation is a good example for the small business franchise enterprises(Smith, 2012). Limited Liability Company- This is a hybrid form of both partnership and corporation ownership which gives the owner the benefits of both ownership structures. The profits and losses are shared by the members or owners, but the owners are shielded from the personal liability. Comparison of small business ownership structures- The point of difference Sole Proprietorship Partnership Corporation Limited Liability Company Ownership Single owner The partners are equal owners The founder of corporation are owners The partners are owners, but not equal Managerial control The owner has full control and authority on overall business operations The partners have equal control and supervision on the overall business operations The independent legal entities hold the management of all business activities and decisions but dont have legal liability Member-managed Sharing of losses and profits Alone responsible for all financial gains and losses The partners are equal responsible for the financial obligations Exempted from the liability of financial obligations Owners responsible, but not personally liable Limited liability protection Unlimited liability Partners are personally liable Not personally liable Limited liability and not personally liable The ownership structure selected for the business and rationale and personal risks associated with this structure The ownership structure for the proposed franchised business will be S Corporation in which the franchisor will grant new rights and authorities to the franchised firm to sell the franchised products under the brand name, trademarks and significant purchasing power of the franchisor. This structure is selected for this proposed business because the franchisee firm will make the huge profits and revenues under the corporation of franchisor. The profits and losses will be netted in this franchised structure against the owners personal income. Under this ownership structure, the owner of Cupcake shop will enhance the customer base by selling the cupcake products or items of Classic Cupcake Company in the great quantities to the large customer segments(Buttars, 2014). The risks level is fewer in this type of ownership structure because the risks and losses are also shared by the franchisor. Some personal risks include expiry of cupcake items, product damage, financial loss, capital inves tment risks, employability risks, and consumer loss as these risks or threats that will not be shared with the franchisor because these are individual business risks. Conclusion This assessment described the legal provisions affecting the business owner of Cupcake shop while starting a small business in Melbourne, Australia. Several key proposals and limitations of the key proposals were outlined in the Australian budget for the session 2015-2016 and 2016-2017 that will affect the new business ventures of the new businesses greatly. Different ALL structures and start-up modes were compared and contrasted from each other on the basis of characteristics, purpose, and ownership. The key characteristics and legal issues of the small businesses were discussed in detail. For this assessment, the franchised start-up mode and S corporation were selected for staring the cupcake copy shop. References Barajas, L. (2007). Small Business, Big Life: Five Steps to Creating a Great Life with Your Own Small Business. Australia: Thomas Nelson Inc. Buttars, R. (2014). Starting a Small Business. Australia: Richard Buttars. Curtis, V. (2012).Getting Started in Small Business For Dummies. USA: John Wiley Sons. Downs, P. (2015).Boss Life: Surviving My Own Small Business. Australia: Penguin Publishing Group. Edwards, A. C. (2014).Starting a Spiritual Business - Inspiration, Case Studies and Advice: Featuring Diana Cooper and Ian Lawman. Sydney: John Hunt Publishing. English, J. Moate, B. (2011).Managing a Small Business in Australia: The Complete Handbook. Australia: ReadHowYouWant.Com. Hastings, R. (2011). How to Start and Build a Small Business. UK: Businessman 101. Roddick, A. Rickman, C. (2005).The Small Business Start-up Workbook: A step-by-step guide to starting the business you've dreamed of. Canberra: Hachette. Root, H. (2006). The Small Business Start-Up Guide. Australia: Sourcebooks, Inc. Smith, H. (2012). Learn Small Business Startup in 7 Days. USA: John Wiley Sons. Steingold, S. F. (2014). Legal Forms for Starting Running a Small Business. Australia: Nolo Publication. Toolkit media Group (2008).Start, Run, and Grow: A Successful Small Business. Melbourne: Toolkit Media Group/Wolters Kluwer. Turner, L.M. (2011). The Unofficial Guide to Starting a Small Business. USA: John Wiley Sons.

Towards More Balanced Treatment Of Culture -Myassignmenthelp.Com

Question: Discuss About The Towards More Balanced Treatment Of Culture? Answer: Introducation In the 21st century, the global market place has become highly integrated and it is extremely important that the various business organizations tend to communicate clearly in order to make sure that all the deals are clearly laid out. The importance of multi cultures cannot be underestimated in today`s market place (Prasad, 2015). The various multi-cultural expectations need to be managed effectively in order to have a balanced environment. Given below are certain issues that lead to a business concern: If the owners of the business are not pro-active, this might lead to different cultural expectations and get the deal started on a wrong note. Formality, hierarchy and timings have different relevance to different cultures and these should be kept in mind before taking into consideration a negotiation or a business decision Very often, certain cultures may appear to be quite aggressive in their approach. Certain deals tend to take more time than the other countries and therefore, adequate care must be taken about these factors before engaging in a business relationship. There is a variety of cultures that are generally, `we` focused. This tends to have an impact on business style and marketing material. Therefore, it is extremely important to make sure that the egocentric component of `i` is identified or `we` oriented (Kinloch Metge, 2014). Body language also tends to play an important role in business transactions. Therefore, a basic guideline is to use openhanded gestures. Hence, it can be states that as globalization have open the trade boundaries of all regions, various business houses from different countries tend to interact with one another and culture tends to play a major role in their interactions. The above issues might come in between while these business communication activities and this is the reason cross-cultural communication is often considered to be a business issue. When two different businesses come together for a business deal, it becomes extremely important that the cultures of the different countries blend with one another. Business ethics states that two countries that are in business relationship with one another need to be considerate towards one another and understand their needs (Carbaugh, 2013). There should be equal amount of respect and appreciation from both the sides, which will lead to a peaceful transaction. However, this is not the case in case of a cross-cultural communication in business. When a cross-cultural communication takes place the two parties in center do not have a clear understanding of the requirements of one another and this may lead to actions that may harm the greater good of one party at the hands of the other party. Hence, it is extremely important that the parties in a business concern understand the do`s and donts of one another. The cross-cultural communication becomes an ethical concern because it affects the day-to-day working relationships, it determines the appropriate code of conduct and it plays a key role in the power and status distribution allocation of the two countries (Bochner, 2013). Understanding of ethics in a business by a professional may help in the following manner: It may help the executives to understand the do`s and donts in the other culture It may help in proper distribution of power and conduct It may also help the associates to reflect proper behaviour while transacting (Asante, 2013). It may help in a long lasting deal with the various associates. The ability to communicate effectively may prove to be a challenge in today`s market place. Even when the parties are aware of one anothers language. These mistakes in understanding might arise from ethical and cultural differences. There are numerous business example which have stated that the various poor communication among the parties tend to a failed deal. It also leads to poor communication which results in incorrect organizational management (Shebzukhova Bondarenko, 2014). Hence, it is considered important for an organization to understand the impact of cross-cultural o the business sector and this understanding will help the firm to create a competitive advantage and foster an environment where all cultures can come together and conduct their business. Recent economic challenges as in the increasing desire to expand this business have increased the need to develop an internal communication, which is necessary to control, and monitor the various threats. The society has lately become connected globally and this will also increase its ability to conduct business. These economic challenges have also made it important for the business to recruit a large number of employees from various cultural backgrounds. Hence, the business must understand how to communicate with them (Hurn Tomalin, 2013).. Therefore, as the economic era today requires sales and revenue from round the globe with the growth of various MNCs, the author has suggested that the Recent Economic challenges require the organization to develop a proper internal monitoring system so that the various external threats are analyzed. These threats may refer to economic conditions like recession, exchange rate fluctuation, change of political systems, events like Brexit, launch of new budgets and so on. As the business has been expanding considerably into beyond the countries of origin, it becomes increasingly important for the various business enterprises to make an effort and try to understand certain aspects of the other culture in order to make sure that they can easily cater to their needs (Young Schartner, 2014). However, proficiency in the cultural aspect necessarily does not mean that the business owners need to know everything about the culture. Their main requirement is that they need to be inquisitive and possess a thrust for knowledge. The business entrepreneurs must be able to able to have the habit of understanding when to listen and when to ask for help. A person is not expected to have the knowledge of every kind of cultural. He is just expected to be considerate towards it and be empathic. The business entrepreneur must be able to understand that in different cultures, things take place in a different manner and that it is extremely important to abide by the laws o f every cultural (Leung, Ang Tan, 2014). He must be able to listen and keep a check for the various hints suggested by the other forces, understand the need of the hour and speak up accordingly (Merkin, Taras Steel, 2014). When the person communicates to the other cultural party, they should make sure that they do not hurt any sentiments and communicate effectively. As the organizations have been expanding their scope of operation, it becomes extremely important or the business organization to have a vast pool of employees who are talented and belong to different backgrounds. This tends to increase and promote diversity management in the organization, which is the need of the hour. However, the components of a culture may differ from one another and they are hard to cope by (Padhi, 2016). A culture cannot be changed because it is the experience of several of years, which have been passed down. People belonging to a particular culture generally tend to have lower perceptions of the management from another culture. This aspect is difficult to change as suggested in the paper of reference and if the workers are forced to behave like one another, it diffuses creativity. Hence, for this reason it is extremely important to understand that the focus needs to lie on individual training. The focus on the individual should not be emphasized to change the cultural aspect of the person but to increase the person`s innovation skills. This innovation will reflect the cultural background of the person thereby making the production extremely diverse. Individual training needs to be given to the employees so that their communication skills can improve and this shall lead to fulfillment of the basic goals of an organization. Through this training, the employees will possess the ability to communicate clearly with one another and thereby infuse creativity into the organization (Chaney Martin, 2013). The advantage and knowledge of different cultures should be combined to prosper the growth of the firm Communication can be taken to be the key to success for any business organization. It is a critical aspect of any business company and it helps the organization to make the consumers understand and provide more information about their products and services. This shall help the enterprise in gaining a competitive advantage. It is often stated that those companies, which are able to communicate cross-culturally, are more successful and have a greater competitive advantage. This is because these companies have better communication within the organization and are able to devote more time and resources to conducting the actual operations of business and less time on solving the various external as well as internal communication problems (Law, Buhalis Cobanoglu, 2014). Communication helps the individual to communicate clearly and fulfill their needs. When these needs are fulfilled within the organization, various cultures tend to prosper. Business houses tend to adopt the different working styles, which as stated previously foster creativity and helps the organization to gain an edge (Jandt, 2017).Since various organizations tend to establish themselves in different regions, a cross-culturally diverse force will help in expansion. Hence, this communication shall help the firm to become a powerful company and perform better than their competitors. The home country is India. In India, the people have a passive communication style. The people do not have an open approach towards life and this tends to reflect in their business where the deals, which are made, are not that clear and this tends to dominate the business culture. Hindi is the official language (Fletcher Crawford, 2013). The Indians are quite diplomatic and do not believe in directness. They are hypocrites and may appear confused (Samovar et al., 2014). The Indians like to brag and adopt a self-promotional approach. Humor is considered to be offensive in business dealings. Word of mouth plays a huge role in business transactions. When comparing this to Australia, people in Australia have n open or active communication style. They tend to have an open approach towards life and this tends to reflect in their style of business. They are proactive and have an instant reply to all problems. English is the official and most spoke language. They are not diplomatic and tend to put directness before diplomacy. Very often, this aspect is taken to be as blunt in certain situations especially if taken from the point of view of country like India (Stahl Tung, 2015). However, in their own country, directness and instant replies are cherished and hence the failure to speak one`s mind may appear as hypocrisy or evasiveness. The Australians do not prefer bragging and for this reason, a self-promotional approach may be misunderstood in Australia thereby provoking a negative response. Australia is one of those cultures in which humor is considered to be pervasive (Richter et al., 2013). It is also acceptable in all kinds of situations and is even expected. The business people in Australia have a role of using first names for business references. As discussed earlier one of the differences that could be identified from the above is the self-bragging approach. The Australians have a subtle way of dealing with the various problems whereas the Indians have a bragging manner. The Australians do not believe in self-promotion but the Indians do. The Indians believe that by stating themselves as the best they might be able to attract a larger crowd. By attracting a larger crowd, they will be able to make more business. However, this is not the case for Australia (Eisenberg et al., 2013). The Australians believe that self-promotion or self-bragging is unethical and that actions speak louder than words, hence they dot believe in diplomacy also. This could lead to problems in business as in if an Australian company and an Indian company come into contact with one another then both the cultures shall crash as the Australians might not like the approach of the Indians towards the business and this might lead to mistrust and conflicts. When a business firm has a diverse management system then they will tend to become accustomed to the different working styles. The business must understand that cross-cultural differences might occur in the firms operations and this understanding will help the company to manage the people in a better manner when dealing with customers with a different cultural background (Ferraro Briody, 2017). The communication system of a firm comprises of values, rules ad practices and the thinking of the senior management. This system may enact as a chain in transmitting these norms associated with different countries throughout the culture. This communication system, which is acting as a transmitter, may act as a knowledge transmitter also. Intercultural communication, which takes place in a business enterprise, needs to consider the differences that are present in the organization. This tends to become a huge challenge for them to develop a synthesis between various workers in order to promote diversity. This is where the organizations tend to make huge mistakes (Adekola Sergi, 2016). They have a habit of overemphasizes the differences between these employees and tend to stereotype them to a particular type (Dunning, 2014). These stereo types may result in promotions being conceived and this tends to become a communication hindrance. Very often cultures are classified as high context and low context. High context is where the society is considered to be inter-dependent. The meanings attached to a single word may lead to various meanings. The body language also needs to be taken care of before approaching people from diverse cultures. A stereotype that the Australians may have about the Indians is that the Indians are very close-minded people. This thinking may derive from their thinking or from the way, they carry themselves. Indians tend to keep their ideas amongst themselves and this may lead to problems in perception of the Australia. The Australians may believe that the Indians do not believe in the modern society and that they are extremely regressive in their thinking. They may stereotype the Indians as against new ideas (Zhu Bargiela-Chiappini, 2013). However, it is not so the Indians though are not that opinionated, have progressive thinking. Just because of the presentation of a few the completely Indian society might be perceived as regressive but as stated it is not so. They are quite broad minded and tend to accept new ideas and concepts with an open mind. The Indians have contributed greatly too many new ideas and inventions. On the other hand, the Indians may perceive the Australians ass extremely open-minded and therefore believe that they do not have values or culture of their own. The Indians often believe that their culture is the best and that other cultures have no importance. They think that since Australians possess a progressive mind, they lack in values and cultures. However, this is not the case; the Australians have huge and deep cultures that date back to centuries (Czinkota Ronkainen, 2013). They have high family as well as business values which tend to have an impact on their decision making and code of conducts in a business. References Adekola, A., Sergi, B. S. (2016).Global business management: A cross-cultural perspective. Routledge. Asante, M. K. (2013).The global intercultural communication reader. Routledge. Bochner, S. (Ed.). (2013).Cultures in contact: Studies in cross-cultural interaction(Vol. 1). Elsevier. Carbaugh, D. (2013).Cultural communication and intercultural contact. Routledge. Chaney, L., Martin, J. (2013).Intercultural business communication. Pearson Higher Ed. Czinkota, M. R., Ronkainen, I. A. (2013).International marketing. Cengage Learning. Dunning, J. H. (2014).The Globalization of Business (Routledge Revivals): The Challenge of the 1990s. Routledge. Eisenberg, J., Lee, H. J., Brck, F., Brenner, B., Claes, M. T., Mironski, J., Bell, R. (2013). Can business schools make students culturally competent? Effects of cross-cultural management courses on cultural intelligence.Academy of Management Learning Education,12(4), 603-621. Ferraro, G. P., Briody, E. K. (2017).The cultural dimension of global business. Taylor Francis. Fletcher, R., Crawford, H. (2013).International marketing: an Asia-Pacific perspective. Pearson Higher Education AU. Hurn, B., Tomalin, B. (2013).Cross-cultural communication: Theory and practice. Springer. Jandt, F. E. (2017).An introduction to intercultural communication: Identities in a global community. Sage Publications. Kinloch, P., Metge, J. (2014).Talking past each other: problems of cross cultural communication. Victoria University Press. Law, R., Buhalis, D., Cobanoglu, C. (2014). Progress on information and communication technologies in hospitality and tourism.International Journal of Contemporary Hospitality Management,26(5), 727-750. Leung, K., Ang, S., Tan, M. L. (2014). Intercultural competence.Annu. Rev. Organ. Psychol. Organ. Behav.,1(1), 489-519. Merkin, R., Taras, V., Steel, P. (2014). State of the art themes in cross-cultural communication research: A systematic and meta-analytic review.International Journal of Intercultural Relations,38, 1-23. Padhi, K. P. (2016). The Rising Importance of Cross Cultural Communication in Global Business Scenario. Quest Journals, Volume 4 ~ Issue 1 (2016) pp: 20-26 Prasad, R. (2015). Cross-cultural communication.Educating Young Children: Learning and Teaching in the Early Childhood Years,21(3), 21. Richter, A., Stocker, A., Mller, S., Avram, G. (2013). Knowledge management goals revisited: A cross-sectional analysis of social software adoption in corporate environments.Vine,43(2), 132-148. Samovar, L. A., Porter, R. E., McDaniel, E. R., Roy, C. S. (2014).Intercultural communication: A reader. Cengage Learning. Shebzukhova, T. A., Bondarenko, N. G. (2014). Language and values as basic elements of cross-cultural communication in tourism. InHumanities and Social Sciences in Europe: Achievements and Perspectives, 3rd International symposium(pp. 310-314). Stahl, G. K., Tung, R. L. (2015). Towards a more balanced treatment of culture in international business studies: The need for positive cross-cultural scholarship.Journal of International Business Studies,46(4), 391-414. Young, T. J., Schartner, A. (2014). The effects of cross-cultural communication education on international students' adjustment and adaptation.Journal of Multilingual and Multicultural Development,35(6), 547-562. Zhu, Y., Bargiela-Chiappini, F. (2013). Balancing emic and etic: Situated learning and ethnography of communication in cross-cultural management education.Academy of Management Learning Education,12(3), 380-395.