The corruption inside the BCCI Bank - Free Essay Example

Sample details Pages: 18 Words: 5544 Downloads: 7 Date added: 2017/06/26 Category Business Essay Type Narrative essay Did you like this example? From previous discuss, we can know that B.C.C.I is a criminal bank and did a lot of illegal activity toward their depositors. It is the largest corporate criminal enterprise ever. According to the journals by Lynne Walker on March2000, the journal stated there that the B.C.C.I criminality included: Fraud by B.C.C.I and it customers involving billions of dollars; money laundering in Europe, Africa, Asia, and the Americas B.C.C.Is bribery of officials in most of those locations Support of terrorism Arms trafficking Sale of nuclear technologies Management of prostitution Commission and facilitation of income tax evasion Smuggling Illegal immigration Illicit purchase of banks and real estate Inside story of B.C.C.I B.C.C.I can be known as a criminal bank and even more than it. According to TIME, B.C.C.I has corporate with its secret division of the bank which known as black network and basically the function of this black network is as a global intelligence operation and a Mafia-like enforcement squad. Besides that, employee of black network consists of 1500 people and they have used multiplex spy equipment and techniques, along with bribery, extortion, kidnapping and even murder. B.C.C.I department of these services is to help drug dealing and money laundering for looting their treasury dictator. The black network deals in arms-trade and sends drug as well as gold. This black network normally works with Western and Middle Eastern intelligence agencies. In order to pay for the clandestine activities, the intelligence agency has maintained a slush-fund account which is a secret fund account. It was a outgrowth of the B.C.C.I dubious and criminal associations (Jonathan, 1991). In the early 1980s this associations began running its own drugs, weapons and currency deal. B.C.C.I maintained a good relationship with international terrorists as well. Others than that, the bank also worked closely with Israels spy agencies as well as western intelligence groups. Most of the time, B.C.C.I operates with this Israels spy in arms deal. Others than arms deal, B.C.C.I also use their intelligence to bribery the public officials around the world. Due to their intelligence, law enforcement authorities cannot control their illegal action. According to former operative call Mustafa, he is the operator of the black network in the early 1980s; he said that black network came to him while he was in school in the U.S, they spoke his language and give him money. They told him to join for the organization and they also described the organizations wealth and political power without told him what exactly the organization did. Mustafa had been went a year for training with a variety of lesson include principles of leadership as well as spycraft. After this kind of lesson, the pleasant was gone, said Mustafa. He has been participated in the operational task for first time at London. Before that, he has been trained with firearms. While during the task, he was gave a passport and identification. Upon the task, he and his peers was appointed to ship some unidentified goods. There is a lot of identification waiting for them to use and it was always been arranged. They need several of identification because the customs and immigration are strict. There are many operations waiting for Mustafa to carry for. Another operation took place in April 1989; which is a container ship from Colombia. The Pakistani customs officials have been bribes by the black network for about $100,000. They use a crane for carrying the heavy container. Forklift is no use in carry those container. The crates have been loaded aboard an unmarked jet and finally departed for Czechoslovakia. People had said that this B.C.C.I not only a full-service bank but they also like to hands-on such as shipped the goods in their own ships (Jonathan, 1991). The bank dealt smuggler in arms from many countries. This bank has helped transfer North Korean Scud-B missiles to Syria. B.C.C.I acts as an intermediary to connect the Saudi Arabia, Chine and Israel. It is because they cannot transfer goods directly through government or national bank. The black network normally follows up the recruiting and persuading. They will put money in the accounts of people that they want to seduce. They want the person to work with them. This kind of action can consider to be benign that the not hurt others. Sometimes, they will use terror tactics like kidnapping and blackmail. They terrorize people by sending someone his brothers hand with the rings on his hand. They usually targeted businessman and politicians. For this black network, it is the banks deepest secret. Someone who found talking about B.C.C.Is activities will be killed. Others than this, those who found unreliability like the high level officer case may also suffer. He has liquidated his assets and sells his house, when the black network kne w it they first killed his brother and send brigands to rape his wife. The black units mission has become the pursuit of power and influence for its owns behalf (Jonathan, 1991). Their purpose was to steal depositors of billions of dollars. B.C.C.Is corporate structure allowed the bank to operate virtually without regulation all over the world (Jonathan, 1991). This bank has many shell companies, offshore banks, branches and subsidiaries in 70 countries. The bank use unregulated Cayman Island enabled it to hide everything and quickly gained a reputation for moving money and hide it for a way. In the late of 1970s and mid- 1980s, B.C.C.I has become a magnet for doing crime such as drug money, capital-flight money as well as tax evading money and money for corrupt government officials. It was the bank that knew how to get around foreign exchange rules and falsify letters of credit in support of smuggling (Jonathan, 1991). Below are some of its activities in others country: - Panama, the bank helped Noriega loot the exchequer. The most criminal institution-B.C.C.I permits the leader to open secret offshore accounts in order to transfer those national funds into those accounts and then make to fund to become them. The accounts under the names of:- Panamanian National Guard Panamanian Defense Forces Panamanian Treasury In Iraq which during 1980s, B.C.C.I became one of the main channel for that Saddam Hussien skimmed from national oil revenue. According to investigator Jules Kroll, B.C.C.I helped the autocrat to hide that money all over the world. Image of Saddam Hussien In Guatemala, government officials said to the TIME they suspect that some of the money gone to pay bribes to smooth their crime. According to Watcher, B.C.C.I normally takes some actions to carry out its fraud. The actions for them to use were:- B.C.C.I employs the someone who be in power as nominees for B.C.C.I. B.C.C.I in fact guaranteed them to be held harml ess for any actual losses (Watcher, 2010). B.C.C.I using bank secrecy havens like Cayman Islands to avoid regulation by any single regulator of B.C.C.I. This kind of havens can permit them to transfer their assets and liabilities from bank to bank. B.C.C.I pays bribes and rebate to the agents of other banking and financial institutions to avoid problems. The more this bank channel for such money, the more funds gathering became their chief goal. From those accounts, B.C.C.I had lends a huge amount to please the government or to buy secret control of companies (Jonathan, 1991). The U.S. regulators discovered that the loans had enabled B.C.C.I to buy secret control in the three American banks which are:- First American Bankshares in Washington National Bank of Georgia Independence Bank of Encino, Calif The National Bank of Georgia and Independence Bank of Encimo, Calif were bought by Abedis front man was estimated $500 million in B.C.C.I loan. Those loans were never to be repaid. What the Abedi get in return was the ownership of the three banks mentioned in above, since he held their shares as hostage for the non-repayable loans. B.C.C.Is deposit also disappeared through black network. Basically, they use the money to pay bribes as well as conduct its weapon and currency deal. According to a former officer, this bank had bought virtual control of custom officials in port as well as terminals around the world (Jonathan, 1991). John Kerry is the first to craft for the B.C.C.Is illegal operations. He has been hindered by Justice Department from investigate the B.C.C.I. According to him, the Justice Department refused to give him any documents and has blocked a sedimentary by a key witness. But the Justice Department has denied any reluctance to investigate. Image of John Kerry In one of the most mysterious events is that the B.C.C.I bank records from Panama City relating to Noriega had disappeared. While this event occurred, it i s under guard by the Drug Enforcement Administration (DEA). They said they had no idea about the disappeared of the documents. The Justice Department also ignored the offer from Lloyd. Lloyds of London, which is enmeshed in a racketeering lawsuit against B.C.C.I, has fruitlessly made offers to provide evidence of B.C.C.I crime such as bribery and kickbacks (Jonathan, 1991). Lloyds accuses B.C.C.I of taking part in smuggling operations and falsifying shipping document. B.C.C.I Most Criminal Activities: Money Laundering From the time of B.C.C.Is indictment on drug money laundering charge in Tampa, Florida in October, 1988. The operation most involving the B.C.C.I was a Custom job name C-Chase. According to Kerry and Brown, agents who work for this had migrates millions of dollars in U.S currency, representing the proceeds of cocaine sales. Robert Mazur, Customs agent in Tampa. He had chooses B.C.C.I as the target of the Custom money laundering. He stated that B.C.C.I bank executives volunteered methods to smooth and improve his techniques for crime-money laundering. Besides, B.C.C.I also offered to introduce Mazur to other potential customer which is rich for money laundering services. Lawyer for the B.C.C.I and the bank itself contended that the Tampa case represented an accident which is just involved in a small number of bank officers (Kerry and Brown, 1992). When the B.C.C.I pled guilty to money laundering, there was only a few of its employing had admit that they engaged in the activity. According to the Kerry and Brown, B.C.C.I seems attracted to traffickers. At first, these traffickers find international bank that are good in wire transfers, have branches in others part of the world and permit quick retrieval of funds. From the Kerry and Brown, we can found they also like to seek the bank where their law may afford large quantity in secrecy to depositors. Others than that, they also like the bank which permits nominee accounts as well as not provide for close monitoring of cross border transactions of currency movements. Beside the way that mentioned above, B.C.C.I will use some techniques to do their money laundering activity. According to Kerry and Brown, the techniques had been use by B.C.C.I were:- Use of certificate of deposits held at foreign branches to offset cash deposits made in the U.S Use technique that designed by drug traffickers known as counter-balancing loan proceeds to credit to foreign corporate bank accounts Use false names and code Counter-surveillance techniques against law enforcement B.C.C.I, the CIA and Foreign Intelligence According to the Watcher, the relationships between B.C.C.I, CIA and the members of the United States as well as foreign Intelligence Communities are very complicated. Furthermore, the key person who might determine the relationship is no longer available. Three of them were death. Those people were:- CIA former director-William Casey Image of William Joseph Casey B.C.C.I customer and Iranian arms deal- Ben Benerjee and Cyrus Hashemi. Former B.C.C.I chairman- Agha Hasan Abedi had death in Karachi 1995 due to heart attack. Finally, some of the person who partly know the truth have denied that they having memory about the events. Image of Agha Hasan Abedi However, the Subcommittee had received the documentary report which stated some additional materials. For instances:- B.C.C.I documents Testimony from B.C.C.I officials and insiders External and circumstantial historic information According to Watcher, the external and circumstantial historic information is describing contacts among the B.C.C.I and the intelligence communities. Contacts among B.C.C.I were:- Former United State intelligence officials and former head of the CIA Former as well as current foreign intelligence officials (Watcher, 2009) People who involve in covert operations on behalf of the U.S government which include Iran/ Contra affair. In addition to that, Subcommittee also received accusation of meeting between William Casey and the founded of B.C.C.I- Agha Hasan Abedi. The Subcommittee Investigation and the CIA According to Watcher, at March, 1991 cleared staff learned from Subcommittee that CIA had prepared a report about B.C.C.I criminality, therefore the staff contact to the CIAs communicate office to request a copy of the particular document- report of B.C.C.I criminality. However, the staff had been told that the document never exists but William Von Raab ensures the document exists. Again, the staff contact CIA for second time but the result get from CIA is same as first time. After that, cleared staff had requested a formal briefing from CIA about the knowledge of B.C.C.I activities; however, the CIA just provided some general information to the staff. The briefer appeared to be ignored other more important about B.C.C.I. On May 14, 1991, Senator Kerry again request for the d ocument prepared by the CIA, but no response to his request for two month, during that time is the closure of B.C.C.I globally on July, 1991. Finally, until July, 1991, CIA director Webster only replied to Kerry request. He had admitted the existence of the two documents about B.C.C.I and state the two documents is extremely sensitive and refuse to being held by. According to the Kerry, the information inside consists of:- One about startling information concern of the B.C.C.I had secretly owned First American Bank in Washington. A distribution list attached to the information indicated that CIA had communicated to the Treasury Department. After he had viewed those documents, he asked Judge Webster to declassify the incident of B.C.C.I owned the First American Bank. The incident after that had been declassified but not include others information. During the August, Senate Select Committee on Intelligence began its inspect of the CIAs relationship with B.C.C.I. they al so requested the document which is concern for the B.C.C.I (Watcher, 2009). The CIA itself began its own internal review and discovered that reports on B.C.C.I by the CIA during end of August. Any further request from others to declassify the remaining B.C.C.Is info, CIA continues to reject. Besides, CIA also does not want to permit staff to review this material. However, Acting Director Richard Kerr agreed to testify (Watcher, 2009). On October, 1991, Richard Kerr testified it- CIA-B.C.C.I relationship in open session. After the closed session, Kerry pressed again for the document and finally it was promise between Subcommittee and the CIA to send the memoranda to the Senate Intelligence Committee to permit review. Official records, According to Watcher, Federal Reserve asks CIA whether got derogatory info about Middle Eastern shareholders to buy Financial General Bankshares (FGB) -later became First American Bankshares, through Commerce and Credit American Holdings (CC AH). Unfortunately, CIA had no such info on the shareholders. According to the CIA records, they first developed information concern B.C.C.I. after learning in the early 1980s B.C.C.I, they found that this institution involve in money laundering activities. After that, when target about laundering drug money; CIA discover this bank involve in driving certain financial market, in arms trafficking, as well as in supporting international terrorism. Kerr admit that CIA used B.C.C.I for certain operations and undertaken the knowledge of any person at B.C.C.I. He had also acknowledged the CIA had made widely use of First American for various of purposes (Watcher, 2009). According to Watcher, he said that Kerr mentioned that is a few things that CIA did not do. CIA had not been involved in:- B.C.C.I black network of thugs and assassins Knowledge of any use of B.C.C.I for the same of arms to Iran Diversion of funds for the Nicaraguan Contras Violate any laws Relation ship with the head of B.C.C.I-Agha Hasan Abedi Place Abedi on a watch list Unofficial B.C.C.I-CIA links The unofficial story of B.C.C.Is link to U.S. intelligence is extremely complicated. It is because the inability of investigators to find out that whether private persons belong with U.S. intelligence were plight actions or apparently under the sanction of a U.S. government agency, policy or operation (Watcher, 2009). In the 1970s and 1980s, according to Watcher, there have been cases of people with relate to U.S. intelligence involve in operations on their own benefits as well as for their own sake. However, it had no relate to any approved by U.S. government interest such as Edwin Wilsons illegal arms sales. There have been others case like retired General Richard Secords arms sales to Iran as well as to the contras in the Iran/Contra affair. According to Watcher again, it is hard to distinguish from Wilsons case, but for sure the fact is that the sales had actual secret permits and support from officials within the government. In the mid-1980s, sources indicate that B.C.C.I provides services not only to the CIA, moreover to intelligence agencies of some others countries. The latter to the Governor of the Bank of England stated as the following:- the B.C.C.I engage in helping people avoid tax Illegal transfers of money Hawala transfers- informal transfers system Off the record deposits Pipeline for drug and crime money Banker to intelligence agencies for most major agencies of the world. Kamal Adham: B.C.C.Is Godfather of Middle East Intelligence Image of Kamal Adham Bob Woodward said press accounts refer to Kamal Adham as the godfather of Middle East Intelligence stressed the closeness of his relate to CIA. He is the brother-in-law of King Faisal of Saudi Arabia. He was the head of Saudi Intelligence and mainly on internal security as well as relations with external intelligence agencies. When Sadat- Nassers Vi ce President is having financial problems, Adham had responsibility for making payment to Sadat on behalf of the CIA. He was playing a major role in B.C.C.I. For instances:- He was the CIAs principal communicators for the entire Middle East for 19 years. He also the lead-front man for B.C.C.I in its takeover of First American bank. He was an important nominee shareholder in B.C.C.I. He remains one of key players in the B.C.C.I affair. According to Watcher, on July 1992, he had accomplished an agreement which is plea with the District Attorney of New York saying that he had been the front man of B.C.C.I in the U.S. In addition to that, he will provide full co-operation with the U.S law enforcement in B.C.C.Is case. According to Watcher, the relationship between CIA and Saudi intelligence service was good when Kamal Adham had been its head. Adhams historic relationship with United State intelligence was usually close. During Adham still a liaison of CIA, Raymond H. C lose- CIAs station chief for Saudi Arabia had choose to work for Adham after leaving the CIA. While Adham working with the Close, he has became the leader investor for Commerce and Credit American Holdings (CCAH) group taking over First American, officially on his own benefits, Watcher describe it. In fact, he acts as a nominee for B.C.C.I. At the mid-April of 1981, he personally appeared to the Federal Reserve to tell his personal background and wealth and of course he inform to them of his desire to be an investor. Indeed, he did not tell Federal Reserve about his background in Saudi Arabian intelligence, close ties to CIA and acted as liaison between the U.S and Anwar Sadat in helping negotiate the agreement which called Camp David Accords. Image of celebrating the signing of the Camp David Accords. Start from left is Menachem begin, Jimmy Carter and Anwar El Sadat. In this Camp David Accords, Adham was encouraged other political figures not to reject Sadat for agreeing to peace with Israel. Although this attempt may have some objection in term of public statements by Gulf rulers but there are many Gulf rulers still provide support to Sadat due to they want to have a defendant from United State to defend their family in case there is a instabilities. It is because United State is Israels superpower sponsor. According to Watcher, Adham was at same time in business with a retired CIA station chief for the U.S. in negotiation for Camp David Accords and make the shareholder in the takeover of the largest bank on behalf of B.C.C.I. This had caused people in the U.S. and Saudi government to doubt whether he was truly retired. For the question about this, Adham said to the U.S. investigator they were unrelated. B.C.C.I purchase First American was not an exchange for Camp David Accords. He also said that his role in Camp David Accords and simultaneous takeover of Financial General were coincidence. Clark Clifford who was a highly influential Ameri can lawyer also believes what the Adham had said. Image of Clark Clifford Abdul Raouf Khalil Same as Kamal Adham, he was the B.C.C.I shareholder as well as front man from its creation. He also is a main nominee in B.C.C.Is underground takeover of First American (watcher, 2009). He also met with Federal Reserve and told them he feels to be a passive investor. Federal Reserve assumed him as a private Arab business because he did not tell them about his background like act as liaison to the U.S. and a keyman in Saudi Arabian intelligence. He told the Federal Reserve that he holds interests in real estate, mechanical and electrical maintenance projects as well as commodities. Other than that, he also involve in some business ventures with American and British manufactures. He do it is for the installation of electronic which include computer equipment in Saudi Arabia (Watcher, 2009). According to Watcher, Price Waterhouse audit said Khalil had no written communications wi th B.C.C.I from 1985 on. By the late of 1980s, B.C.C.I had used Khalil name as a nominee in transaction in Latin American, Caribbean and Europe while he still contact with CIA until well after B.C.C.Is closure. Former CIA Director Richard Helms and B.C.C.I Front Man Mohammed Irvani Except Adham and Khalil, Mohammed Rahim Motaghi Irvani also acted as B.C.C.Is chief front man in the earlier but before Adham acted as the lead for shareholder in the purchase of First American. He is the former B.C.C.Is front man and he wishes to takeover the First American but not success. He held 5 percent shareholder of CCAH. He was at the time the principal partner in Helms international consulting firm-Safeer as well as the chief financier of that firm (Watcher, 2009). Irvani had received Helms advice on how to protect from any liability and thus, there is a financial link between Helms and Irvani. According to Watcher, Irvani founded the Melli Industrial Group in Iran in 1949 where by it i s manufacture footwear and leather goods also developed close relationship to Shah of Irans government. During the time of the takeover of Financial General Bank in 1978, Melli Industrial Group owned many operating companies which amounted 23. Moreover, it also merging with others foreign firm. Irvani held interest in the Iran Arab Bank. According to Watcher, there is a friendship between Irvani and Helms in that period at Iran. After he was backed to U.S., he has been indicated for telling a lie before a Congressional committee concern CIA activity in Chile. He pleads no contest to the charge. Thus he was seeking for Clark Clifford for help. In order to help him, Clifford visited the top Justice Department to argue for that statement. He also emphasize such charge could destroy the U.S. intelligence communities. Unfortunately, it is no way out. It was definitely at this time that Irvani provided a vital lifetime to Helms through financing the Safeer Company (Watcher, 2009). A ccording to Safeer Company corporate records, 80 percent of Safeer was owned by Irvani. Furthermore, much of the business of this Safeer was deal by Roy Carlson. He is the Irvanis former chief U.S assistant. Carlson who was became the Vice President of Safeer and had close relate to B.C.C.I. Watcher mentioned that, Carlson served as a Naval officer in the Pacific. He had been joined the U.S. foreign service as well as was detailed to South Africa. He spent 20 year at there before moving to the Bank of America (BOA). Finally, he became the head of the banks operation. During that time, he had close contact to Abedi and advised him on the formation of B.C.C.I. Lastly, Abedi introduced him to Irvani. Thus Irvani employed him to be the head(manager) of the Melli group. After the revolution if Iranian, Carlson went to work with Richard Helms in Safeer. After Ghaith Pharoan purchase the National Bank of Georgia from Bert Lance, then, Abedi had selected Carlson to be the head of that bank. According to Watcher, Irvani had agreed to be the front man of B.C.C.I, that time Helms had promised to protect Irvani. He had protected him against all the possible liability. They will use his name as a shareholder by Abedi, B.C.C.I include Clifford law firm. Over a decade, Irvani, Calrson and Helms continue to interact among each other in B.C.C.I. Helms had introduced Irvani to various people which many are ambassador. Besides, he also introduce Irvanis son-Ali to others ambassador like Ambassador Paul Nitze. Others than Paul Nitze, he also introduced Ali to former CIA station chief-Raymond Close. Throughout the decade, B.C.C.I financed Irvani investment in U.K. and U.S. which amounted $38 million on buying the New York office building. Other than that, millions of dollars at a time had been given to Irvani family. They also indicated that the Irvanis had received massive loans from National Bank Georgia (Watcher, 2009). Closure of B.C.C.I How Fraud and I nternational Corporate Structure Delayed the Recognition of Insolvency Since the bank was founded in 1972, its financial statements were falsified. According to Herring, the escape had showed how effectively the complex international corporate structure it devised shielded it from scrutiny by external accountants and supervisor. At first, B.C.C.I adopted dual banking structure. The non bank holding company in Luxembourg (B.C.C.I Holdings SA) was under the protection of secrecy laws. It also owned two separate banks that were licensed and supervised in two separate jurisdictions which are B.C.C.I SA in Luxembourg and B.C.C.I Overseas in the Cayman Islands. As mention above, this two owned a very strict secrecy laws. Neither this two was the operational of B.C.C.I. Most of the decisions were made by Abedi. The dual banking structure makes the supervisory authority difficult to monitor the B.C.C.Is activities. The intelligence of B.C.C.I had hired separate auditing firm for ea ch bank. Luxembourg has the responsibility for exercising consolidated supervision over B.C.C.I given by Basel Concordat but it is no way out due to B.C.C.I had no banking business in Luxembourg. It is because B.C.C.I had conducted their banking business in others branches at others countries. Furthermore, Luxembourg had lacked of resources to monitor B.C.C.I worldwide operations. Although B.C.C.I largest branch network in England, but the Bank of England reject to accept the burden of supervising B.C.C.I. Well, the closure of the B.C.C.I due to three different pressures:- Luxembourg gave notice to B.C.C.I that it must leave Luxembourg within 12 months. After this, B.C.C.I had want to subsidies from Abu Dhabi, Cayman Islands and United Kingdom but none of this three host country was willing to take over responsibility for consolidated supervision of B.C.C.I. New York District Attorneys office, Congress and the Fed investigate concern to charges of money laundering, drug trafficking, wire fraud and the concealment of B.C.C.I control over First American, Independence Bank and the National Bank of Georgia (Herring, n.d). Due to the charges, B.C.C.I would impossible continue to operate. A draft of a report was delivered to the Bank of England on June, 1991. Reports describe that B.C.C.Is fraud which include:-[sources below taken from Herring, n.d] Falsification of accounting records External vehicles used to route fund transfer and park transaction The use of nominee and hold-harmless arrangements The creation of 70 companies to facilitate and disguise lending to the Gulf Group Collusion with third party bank to make loans to B.C.C.I customers Collusion with customer and give false confirmations to the auditors of fictitious Other than the above, there are some others else but cannot be exposed. How Fraud and the International Corporate Structure of B.C.C.I Complicated Resolution The closure of the bank was reached a littl e impact on financial market. It is because the authorities implemented the intervention and most of the market participants had cut lines to B.C.C.I. The Basel Committees review of the insolvency liquidation of B.C.C.I indentified four major conflicts in the national insolvency regimes (Herring, n.d). According to Herring, the regimes had complicated the liquidation of B.C.C.Is assets and reduced the amount that could distribute to creditors. The four conflicts were:- Different country may have different insolvency regimes for banks and branches. The United State follows a separate-entity doctrine whereas Luxembourg and United Kingdom follows a single-entity doctrine. Separate-entity doctrine- agency or branch of a foreign bank is treated as if were a separately incorporated legal entity for purposes of liquidation (Herring, n.d). Single-entity doctrine- bank and all of its foreign branches are treated as offices of a sing corporate entity (Herring, n.d.). These t wo approaches have differing implication on market discipline and it may undermine incentives for creditors. Different countries have different liquidation procedures. In U.S., the general insolvency law does not apply to bank while in U.K. the same liquidation laws apply to banks as to other commercial entities. In Luxembourg, the court will depend on the case. For this conflict, it can reduce the amount available to distribute to all creditors. Right of set-off differs across bankruptcy regimes (Herring, n.d). According to Herring, U.S. exercised right of set-off with regard to claims denominated in the same currency with regard to the same branch. For U.K, the claims may not be dominated in the same currency and on the same branch. For Luxembourg, the right of set-off exercised only before a liquidation order when the claims are fixed in amount. Another wildcard in the international bankruptcy deck that can trump normal insolvency procedures. B.C.C.I was prosecuted under Racketeer Influenced and Corrupt Organizations Act (RICO). The RICO prosecution might have intensified the worldwide scramble for assets but the U.S. Attorney General negotiated an unusual plea agreement, which forged an alliance with the court appointed liquidators (Herring, n.d). According to Herring, the alliance was opposed by competing liquidators branches elsewhere of the world. Others creditors will hope to secure preferential access to B.C.C.Is assets in the U.S. RICO had used about 8 years to resolve the massive fraud. RICO had also charges against the sovereigns of Abu Dhabi as well as 6 individuals. Don’t waste time! Our writers will create an original "The corruption inside the BCCI Bank" essay for you Create order

Adam Smiths Wealth of Nations Essay - 3033 Words

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Basic Argument for Fatalism Free Essays

Metaphysics The â€Å"Basic† Argument for Theological Fatalism Fatalism Fatalism is the view that everything that happens in entirely unavoidable. Since everything that happens is unavoidable, none of our actions are genuinely up to us and we powerless to do anything other than what we actually do. Here is Richard Taylor on what the fatalist believes [â€Å"Fate† from Metaphysics, 4th Ed (Pearson, 1991)]: â€Å"A fatalist is someone who believes that whatever happens is and always was unavoidable. We will write a custom essay sample on Basic Argument for Fatalism or any similar topic only for you Order Now He thinks it is not up to him what will happen a thousand years hence, next year, tomorrow, or the very next moment. † (52) â€Å"A fatalist thinks of the future in the way we all think of the past, for everyone is a fatalist as he looks back on things. † (52) We all think of the past â€Å"as something settled and fixed, to be taken for what it is. We are never in the least tempted to try to modify it. It is not in the least up to us what happened last year, yesterday, or even a moment ago, any more than are the motions of the heaves or the political developments in Tibet. We say of past things that they are no longer within our power. The fatalist says they never were. † (52-53) Theological Fatalism According to the main versions of Western Monotheism (e. g. traditional Christianity), God is omniscient. To be omniscient is to have (in some important sense) unlimited knowledge. It’s hard to say what this amounts to, but let’s use the following defin ition (since it’s common) x is omniscient = for x knows every true proposition and x does not believe any false propositions. Many people think that omniscience is incompatible with human freedom, because it implies the doctrine of theological fatalism. Theological fatalism is the view that all human actions are unavoidable (and we are powerless to do anything other than what we actually do) because God has exhaustive foreknowledge of all future human actions. Here is an important statement of the argument for theological fatalism from Augustine (On Free Choice of the Will, Book III) I very much wonder how God can have foreknowledge of everything in the future, and yet we do not sin by necessity. It would be an irreligious and completely insane attack on God’s foreknowledge to say that something could happen otherwise than as God foreknew †¦ Since God foreknew that [Adam] was going to sin, his sin necessarily had to happen. How, then, is the will free when such inescapable necessity is found in it? Surely this is the problem †¦ How is it that these two propositions are not contradictory and inconsistent: (1) God has foreknowledge of everything in the future; and (2) We sin by the will, not by necessity? For, you say, if God foreknows that someone is going to sin, then it is necessary that he sin. But if it is necessary, the will has no choice about whether to sin; there is an inescapable and fixed necessity. And so you fear that this argument forces us into one of two positions: either we draw the heretical conclusion that God does not foreknow everything in the future; or, if we cannot accept this conclusion, we must admit that sin happens by necessity and not by will. The Basic Argument for Theological Fatalism Where S stands for any person whatsoever and A stands for any action, Augustine’s argument can be stated as: 1. For any person, S, and an action, A, that S performs, God knew in advance that S will do A. 2. If God knows in advance that S will do A, then it necessary that S will do A. 3. Therefore, it is necessary that S will do A. 4. If it is necessary that S will do A, then S is not free to refrain from performing A. 5. If S is not free to refrain from performing A, then S does not freely perform A. 6. Therefore, no person ever acts freely. Evaluating the argument Premise 2 is ambiguous †¢P2a: Necessarily, If God knows in advance that S will perform A, then S will perform A (De Dicto) †¢P2b: If God knows in advance that S will perform A, then necessarily S will perform A (De Re) P2a is true but the resulting argument is invalid P2a is true. It says that the proposition â€Å"if God knows in advance that S will perform A, then S will perform A† is necessarily true and this just means that it is impossible for God to know in advance that, for example, I will raise my arm at some time and I fail to raise my arm at that time. We can put this by saying that God’s knowing in advance that I will raise my arm at some time logically entails that I will raise my arm at that time. P2a is a way of expressing this truth. The resulting argument is invalid. Using P2a as the key premise, the argument is: 1. Necessarily, if God knows in advance that S will perform A, then S will perform A. 2. God knows in advance that S will perform A. 3. Therefore, necessarily, S will perform A. But this argument is invalid (the conclusion doesn’t follow from the premises). We can show this by means of a counterexample (an argument of the same form with true premises and a false conclusion). The form of this argument is: 1. Necessarily, If p, then p. 2. P 3. Therefore, necessarily q. To see that the argument is invalid, use the following substitutions: p = K. Sharpe weighs over 200lbs, q = K. Sharpe weighs over 199lbs. . Necessarily, If K. Sharpe weighs over 200lbs, then K. Sharpe weighs over 199lbs. 2. K. Sharpe weighs over 200lbs 3. Therefore, necessarily K. Sharpe weighs over 199lbs. The premises of this argument are true but the conclusion is obviously false (I could go on a diet and successfully lose some weight). I weigh over 199lbs but not essentially. I could weigh less than 199lbs and, i n fact, I did weigh less than 199lbs at one point. All that follows from the first two premises is that, in fact, I in fact weight more than 199lbs. It doesn’t follow that it is impossible for me to weigh less than 199lbs. Just in case you are not convinced, here is a second counterexample (Plantinga’s) 1. Necessarily, if I know that George Clooney is a bachelor, then George Clooney is a bachelor. 2. I know that George Clooney is a bachelor. 3. Therefore, it is necessarily true that George Clooney is a bachelor Again, the premises are true but the conclusion is false. George Clooney is a bachelor but he is not essentially a bachelor. He could get married, he just chooses not to. All that follows from the first two premises is that George Clooney is in fact a bachelor (not that he is essentially a bachelor). P2b renders the argument valid but it is obviously false 1. If God knows in advance that S will perform A, then necessarily S will perform A. 2. God knows in advance that S will perform A. 3. Therefore, necessarily S will perform A. This argument is valid (it’s just modus ponens) and so if the premises were true then conclusion would be true as well. But P2b is false. Given the de re reading of P2b, it says that whatever propositions God knows are necessarily true or, to put the point in terms of properties, if God knows that some object has a property then the object has that property essentially. Taken in this way, P2b is obviously false (nor does it follow from omniscience). Since the basic argument has to rely on either P2a or P2b, the argument is either invalid or relies on a false premise. Either way it’s unsound. Here is a way of thinking about this criticism of the argument. From the fact that God knows that Paul will mow his yard on July 7, 2015 it follows that, on July 7 2015, Paul mows his yard and that he does not refrain from mowing his yard on that day. But, it does not follow that it is metaphysically impossible for Paul to refrain from mowing his yard that day (that Paul does not refrain from mowing and it is impossible that Paul refrain from mowing are two very different things). All that follows from the fact that God knows in advance that Paul will mow is that Paul will not exercise his power to refrain not that he lacks the power the power to refrain. The basic argument for theological fatalism needs the later inference, but that inference is not a good one. Thus, the basic argument fails. How to cite Basic Argument for Fatalism, Essay examples

Remembering My High School Years Essay Example For Students

Remembering My High School Years Essay My 12th grade year in High School was a triumph. I felt like I had every obstacle possible against me not to finish, but I was determined not to fail. I fought hard to continue through my senior year of high school. The weight on my shoulders was heavy. I was living in Framingham, Massachusetts, traveling to Brighton, Massachusetts every morning for school, I was pregnant, and I was able to stay focused managing to not only graduate high school, but to graduate with honors. I had to wake up at 4a. m. every morning to travel to Brighton, Massachusetts for school by 7:30a. Some days waking up seemed almost impossible. Getting out of bed was so difficult. I would have to drag myself out of bed, rolling onto my side to get up. I battled with myself each morning struggling to get up and going. Finally getting out the door, I want to run back inside and curl into my bed so I could escape the cold crisp air of winter. The wind so cool sending chills throughout my body. Each breath sent a burning sensation through my nostrils. I felt so anxious getting to school; I did not want to be late. The passing minutes of travel heading to school felt like hours. My body ached, I was so tired. Going to school was not only mentally draining, but physically too. I felt like a beached whale. I was pregnant with my son trying to stay awake. I could barely keep my eyes open. I would feel my head drop so heavy that the impact would wake me up. I would refocus, pulling out my notebook taking the most detailed notes my mind would allow. With every stroke it took to write I could feel it through my whole body. My due date was soon approaching. I just had a few more weeks to stick out. Continuing to push through the days, finally prom day was here with graduation day not too far behind. I finished school successfully with high honors. Before walking the stage for graduation there was the celebration of prom. I was debating back and fourth about going. I ultimately decided I deserved to go to prom pregnant or not. I felt I had an obligation to myself to attend, and that I did! A few weeks later graduation followed. Walking across that stage was amazing a sense of overwhelming happiness came over my whole body and I burst into tears. I felt so whole and satisfied. For a moment as I walked across the stage I couldnt see anyone, I was in complete silence walking alone so proud of me! High school in and of itself is a challenge. I beat the odds. I did it! I was a high school graduate. I did it by myself, and for myself. I was faced with a lot of challenges and I over came them. The road through senior year was far from easy, but it was accomplished and it was worth my entire struggle.

Black cocaine%2c White cocaine Essays (358 words) - Drug Control Law

Marlon Josephs Professor Ehtesham-Zadeh Engl. 1101 26 October 2018 Black Cocaine, White Cocaine Few people of Generation X have forgotten the hoke yness of the anti-drug campaigns in the 1980's and 1990s. An egg cooking in a frying pan represents '' the brain on drugs.'' Nancy Regan warned young people everywhere. She encouraged them to '' just say no to drugs.'' The Reagan administration built a global operation to eradicate illegal drug use, dismantle drug trafficking networks, and criminalize people who use drugs. The war on drugs, consciously, has become a war on similar segments of society; minorities, the poor, and the deprived. In the US, black Americans make up only 12 percent of all drug users, but 38 percent of all those arrested for drug-related offenses are black. We are jailed ten times more often than white Americans. What began as a vision of a drug-free society where abstinence would usher in an era of virtue has become an unnecessary and brutal war against disenfranchised people. The phenomenon of mass incarceration and the war on drugs are deeply linked since drug-related crimes have been the leading cause of imprisonment in the United States: between 1993 and 2009, more Americans were arrested for drug crimes than violent ones. The successive anti-drug laws, increasingly punitive, have had a substantial impact on the increase in incarceration, which affects the population differently depending on the color of their skin. Without a clear approach based on rehabilitation, anti-drug policies only perpetuate ethnic inequalities, which contribute to locking up thousands of African-Americans in federal prisons, destroying families and maintaining the spiral of poverty to which entire communities are subjected. Today, with billions of dollars spent, millions jailed, and hundreds of thousands killed, the public has realized this war has failed terrifically. The war on drugs consequences is felt all throughout the country. Entire communities have been left devasted. US prisons are brimming with non-violent drug offenders. Profoundly unequal outcomes across racial groups and the disproportionate war on drug misery suffered by communities of color.

Compare the main issues with accounting for overheads within a manufacturing sector Essay Example

Compare the main issues with accounting for overheads within a manufacturing sector Essay Example Compare the main issues with accounting for overheads within a manufacturing sector Essay Compare the main issues with accounting for overheads within a manufacturing sector Essay Operating expenses, besides known as indirect costs, are costs that are incurred by an administration that can non be clearly attributed to a cost object i.e. something for which a cost is required. It is of import for administrations to cover all costs that it creates ; accounting for operating expense has become more of import in modern times as it takes up a larger per centum of the costs an administration implicates. The chief issue associated for accounting for operating expenses is that indirect costs are hard to categorize and they can non be easy traced to a specific cost. Operating expenses were traditionally, and still are accounted for utilizing Marginal and Absorption Costing. However, the traditional system has its defects and more late ; Activity Based Costing was introduced for more accurate merchandise and client costing. A cost can be classified via its behavior and property. Costss that are classified by their behavior are called variable and fixed costs. Variable costs are relative to the sum of resources used whereas fixed costs are acquired and paid for in progress. Hence, fixed costs are related to predicted degree of capacity while variable costs are related to existent degree of activity. It is of import that the direction accountant identifies whether the cost is fixed or variable as it can under-estimate or over-estimate the costs. Once the cost is classified, you will be able to gauge cost per unit. Variable and Fixed cost can be direct or indirect depending on the Cost Object. Direct cost is the cost of a resource that is merely used by one cost object. Variable costs are direct when you calculate the cost of stuff used doing one type of merchandise, nevertheless if the variable cost varies to the proportion to a activity that supports several merchandises, so the variable cost will be ind irect to the single merchandises. Similarly, fixed costs can be direct or indirect. The issue is that cost categorization of a cost can alter if the costs object alterations. This makes it more hard to apportion operating expenses. An illustration would be if Nokia, a nomadic industry, make up ones mind to use a mill supervisor. If the cost object is a merchandise, so the wage for the supervisor would be indirect to the cost of the merchandise. However, if the cost object is the mill, so the wage would be a direct cost. Operating expenses are traditionally accounted for by cost driver rates. Cost driver rates allocate the indirect costs accumulated by the administration to a specific product/job/process etc. It is a necessity to cover operating expenses as they can do up a big proportion of entire costs of the company. Each cost is linked with a specific cost driver and is referred to as a cost pool. Historically, cost driver rates were based upon Direct Labour Hours and Direct Machine Hours. However, administrations now recognise several factors could be driving support costs alternatively of one or two factors. ( Atkinson et al. 2007 Page89 ) Cost Driver Ratess are calculated as follows: Normal Cost of Support Activity / Practical Capacity of Cost Driver . ( Atkinson et al. 2007, Page89 ) Normal Cost of Supporting Activity is the cost of the resources committed to a peculiar activity and practical capacity is long term mean usage capacity made available by the sum of resources committed to a su pport activity . The job with Cost Driver Rate is that they remain changeless overtime and therefore make non take into consideration the fluctuations in demand over a short period of clip. This is a job because when demand is low, in the short tally cost driver rates are traveling to be calculated at a higher rate pricing yourself out of the market. Similarly, in periods of high demand, your monetary value would pull more concern than usual which would prove your capacity. ( Globusz, 2011 ) Marginal Costing is an accounting system in which variable costs are charged to be units and fixed costs of the period are written in full against aggregative part . Marginal cost is the excess cost incurred in the last unit of production. It is an attack that excludes operating expenses as they are seen irrelevant in the short tally because they are to stay fixed regardless of the degree of end product. Premise for fringy costing is that within the relevant scope, fixed costs will stay the same for any sum of sales/production. Therefore, in bing footings, when an excess unit of merchandise is made, the excess costs incurred in its industry is variable production i.e. fixed costs will non alter. When fringy cost is ascertained, part is the result which assists in the breakeven end product as it goes towards retrieving fixed costs. When fixed costs are equal to the part you reach breakeven end product. ( Tutor2u ) Absorption costing is a method that, in add-on to direct costs, assigns all or a proportion, of production operating expense costs to be units by agencies of one or an figure of overhead soaking up rates . Absorption bing takes into history fixed, variable, direct A ; indirect costs as normal fabrication costs are considered merchandise costs and all costs are included in the stock list. Direct costs are straight linked to the end product. Indirect costs are attributed to the service section of a concern. Costss are so reallocated from service support sections to production sections where each facet of operating expenses is absorbed individually, before an soaking up recovery rate is calculated. The soaking up recovery rates are based on pre-budgeted figures. ( Atkinson, 2007 ) Absorption recovery rate is calculated by: budgeted fixed production overhead/budgeted degree of activity. ( Weetman 2010 ) Absorption bing besides is normally required for stock list rating und er fiscal accounting. Activity Based Costing established a nexus between activities that create operating expenses to put more appropriate cost driver rates. ( Tollington and Wachter 2001 ) Activity based bing assigns overhead cost to activities based on their ingestion . Just like traditional systems, activity based costing uses a two phase allotment system. It is different to them in that it allocates cost to be Centres instead than sections in the first phase. In the 2nd phase, activity based costs assigns cost of activities on their use. It does by configuring what drives the cost before set uping volume of drivers to cipher the driver rate which is applied based on the use of these resources. ABC does non supply information that can be used for determination devising. ( Drury and Tayles 1995 ) However, ABC does supply information that would let the companies to apportion more elaborate particular surveies to determine their long term viability . Activity based bing includes a greater figure of ac tivities A ; cost driver rates than traditional attacks. ( Otley 2007 ) ABC can be distinguished into procedure position and cost position, cost position is based on being more accurate with the costs whereas process position evaluates your public presentation steps for uninterrupted measuring. Best bargain Europe operates Carphone warehouse. Carphone warehouse sells merchandises and services through retail mercantile establishments and the cyberspace. ( Carphone Warehouse,2010 ) A important proportion of gross is derived from the nomadic web operates in the house of committees for presenting new clients and reclamations. With the consumer market valued at ?9b In 2009, Carphone Warehouse have diversified into fixed line and broadband line whilst selling subsidized laptop with fixed line and broadband connexions. They are besides looking to farther diversify into the market by including gambling and sound. Sing the points, I believe that the likely operating environment a Service company such as Carphone Warehouse would run in is fringy costing. Fringy costing is non a method of bing like procedure or occupation costing ; instead it is a technique of cost information for the counsel of direction. Fringy costing would let Carphone Warehouse to determine the construct of part to its merchandises and use interrupt even analysis to work out how much of each merchandise they have to sell. The cardinal characteristic of fringy costing is that it classifies costs, creates stock stock list rating and configures fringy part. Cost categorization would let Carphone Warehouse to distinguish between its variable and fixed costs and utilize its variable costs to plan its gross revenues technique. Net income measuring for stock/inventory is besides valued at fringy cost ( cost of bring forthing one excess unit ) which is in crisp contrast to the entire unit cost under soaking up bing method. Fringy Contribution would let Carphone Warehouse you to judge the profitableness of different products/departments. Whereas a service company such as Nokia would utilize soaking up bing. Absorption costing is based on the premise that all fixed costs have to be recovered and included in merchandise costs. This would let company s such as Nokia to integrate all fixed and indirect costs to the merchandises they make. They do this via delegating all operating expenses by agencies of a budgeted overhead soaking up rate leting them to apportion costs consequently. Absorption bing calculates the unit cost of an point by taking into history all the company costs including fixed/variable and direct/indirect costs. If an operating expense can non be straight allocated to a unit so it has to be absorbed individually via cost Centres on an just base. The advantage of Carphone Warehouse utilizing Marginal Costing is that it is a simple method where all operating expenses ( indirect/fixed costs ) are taken of at the terminal of the balance sheet. Fringy Costing helps in short-run net income planning via breakeven A ; profitableness analysis is available because of part. Contribution can be used by Carphone Warehouse to do comparative profitableness and public presentation between two or more merchandises that they sell, so they can work out how much is needed to sell in order for them to interrupt even and which merchandises they may be doing a loss on. Besides, by avoiding allotment of fixed costs, it can concentrate on doing fringy bing more consistent and more accurate. However the drawbacks for Carphone Warehouse utilizing fringy costing, as all costs are technically variable in the long tally, it is hard to divide costs in to variable and fixed costs. Therefore, fringy costing is ever seen as a short term solution because in the long tally, gross revenues monetary value, fixed and variable costs per unit can change doing fringy costing unrealistic. It avoids taking into history semi-variable costs. Besides, it is comparatively easy to pull strings figures ( Kaplan 1984 pg.20 ) that do non heighten the long term competitory place of the house . The advantages of Nokia utilizing soaking up costing is that it incorporates entire costs guaranting fixed costs are recovered in to the merchandise, i.e. fixed and variable, direct and indirect costs per unit into a merchandise. It is good for the directors as it allows them the option to put a merchandising monetary value utilizing a cost grade up rate. It treats each cost separately and applies an soaking up rate to each operating expense. It besides would let Nokia to analyze the profitableness of different merchandises it sells so it would assist in the determination devising of which merchandises to bead and which merchandises to transport on bring forthing. The disadvantages of soaking up costing is that the soaking up rates are forecasted, therefore there is a danger of over or under soaking up which illustrates that the operating expenses that have been absorbed can be greater or less than the existent operating expense. Furthermore, the capacity degrees chosen by Nokia for an overhead soaking up rates is based on an historical event and therefore capable to alter. Absorption costing is rather a composite, expensive and times devouring method. My recommendation for both administrations is to follow activity based costing ( ABC ) . ABC uses a costing system similar to traditional cost systems but it traces it costs to activities alternatively of cost Centres. ABC involves puting up activity cost drivers and delegating costs based on their use. ABC is different from soaking up bing as it utilises unit cost instead than entire costs. ABC besides allows for accurate costing for all activities through out an administration alternatively of establishing it on historical figures. ABC asses the cost of single merchandises based on their use of resources. ABC can besides be used in service companies such as Carphone warehouse, as it will let them to concentrate on client costs and profitableness. Virtually all costs in a service company are indirect and look to be fixed. Customer behavior determines the basic operating costs of merchandises in service companies whereas in fabricating companies they are client independent. In servic e companies, there is a greater fluctuation in demand and the service company can merely find and command the efficiencies of its internal activities. Carphone warehouse has to take into history entire relationship profitableness with its clients as they may hold more than one service with the company. Activity based bing would let fabricating companies such as Nokia to more accurately allocate costs more than of all time before. In recent times fabricating operating expenses associating to increase use of machines has increased, this has led to operating expenses going a higher proportion of fabrication costs. Activity Based Management is better than the traditional methods of apportioning costs on the footing of machine hours. It allows directors to apportion costs to merchandises that demand the activity. Directors are able to utilize the information gained on activity costs to better the profitableness of their concern. They can look at what truly needs improving by placing high cost and inefficient procedures. In decision, the chief issues and jobs with accounting for operating expenses can be partly solved by ABC for both fabrication and service companies. However, surprisingly, ABC is still non implemented as much and harmonizing to a study, ( Abdel-Kader and Luther 2006 ) 76 % neer or seldom use ABC or soaking up costing. There is a batch of opposition around ABC from persons from administrations. This is partly due to directors and persons being against alteration and the deductions of ABC theoretical account uncovering instances of bad direction of products/customers which would coerce directors to deny the cogency of the new attack.

Executive Summary for Computer Business Assignment

Executive Summary for Computer Business - Assignment Example The target market of Computer Heaven will be computer enthusiasts of all ages. It will also compete in the business to business market segment. The computer enthusiasts of all age shall be composed of end users at home and gamers. The business will also focus on computer arcades where orders are in bulk not to mention that it needs maintenance which is also an aspect of Computer Heaven’s business. The business to business market segments are large companies that will order in scale due to the sheer size of company and its operation. This segment shall be the profit center of Computer Heaven due to the scalability of business in addition to the long-term prospect of the business. Also, business to business market segment is advantageous to Computer Heaven’s bottom line as it requires maintenance due to the heavy use of its computers allowing a perpetual generation of revenue for the company. The firm plans to use a customer intimacy model to increase the customer retention of the firm. The firm will also maintain good working relationships with other stakeholder groups such as employees, lenders, and suppliers. Computer Heaven will differentiate itself from competition by delivering exceptional and consistent customer service and after sales technical support that will cultivate long-term relationship from its clients. Customer relation shall be the main driver of the company’s business for various reasons. First, it will discourage existing clients from considering competitors and second, it is more cost efficient to cultivate relationship with existing clients than to attract new clients. Pricing shall be used also as leverage in maintaining relationship with customers by offering discounts at an already lowered price in addition to an unparalleled customer service and after sales technical support. Computer Heaven will be enabled to offer

International Business Management ( Final Project) Assignment

International Business Management ( Final Project) - Assignment Example The global expansion had increased their profit and market share in the global market; however, the company has also experienced numerous challenges in emerging markets like China. China was regarded as the second largest growing nation in the world during 2010, whose annual growth was above 10% (US-Pacific Rim International, Inc., 2010). This has attracted many companies especially, the retail companies, to expand their business in China so as to cater the needs of the world largest population. Despite the growing economy and lucrative business market, the foreign companies failed to continue a successful business in China because of various strategic issues (US-Pacific Rim International, Inc., 2010). The same situation was encountered by Tesco PLC who entered China through foreign direct investment in 2004. The reason for selecting China is that, many well known international brands such as Wal-Mart, Carrefour and Tesco had to face a number of challenges and even failure due to a number of reasons; few of which is discussed in the report with respect to Tesco Plc. Therefore, it is quite interesting to know the fact behind the failure of Tesco plc to capture the Chinese market. Tesco Plc entered China during 2004 with the help of 50:50 ventures with local retailer Hymall. Nevertheless, soon after few years in 2006, the company bought another 40% of the venture (Tesco, 2015; Telegraph Media Group Limited, 2015). Tesco PLC in China employs around 21,000 employees and had opened more than 62 stores and has the goal of opening hundreds of stores so as to reach every corner of China during 2009. Analysts have depicted the fact that the Chinese market has the ability to become the largest country for the business of Tesco. Nevertheless, Tesco Plc had experienced a number of issues in China, which have forced them to close many stores in the past three years (Song, 2013). The main issue was related to the failure

Critical Issues faced by the managers while they set a project where Assignment

Critical Issues faced by the managers while they set a project where the associated persons of the project are from different culture - Assignment Example The paper tells that when a company management wants to start a new project then they have to take many factors in account. History shows that the projects which have got success are very much lesser than the projects which have failure. There are many factors which are associated with the project. If a project gets success then it can generate some big amount of revenue but if it gets failed then the cost of the project would go in vain. The project only gets success if that manager of the firm has done a proper planning. At first the manager has to make sure that the project is financially viable that is by using the financial tools he has to make sure that the project would generate profit for the firm. Then the firm has to fix the location for the project and also the labour who will execute the planning into reality. Then there is the marketing and sales and distribution of the project about which also the managers should make a plan. The workers are a major part of the project. In the era of globalization persons of different cultures, different religions can be associated with the project. The project can also be a multinational project where the top management has to control the employees who are of different nationality. When a team of people based in different locations and they work in the same project then the team is known as the virtual team. The members of the virtual teams don’t meet but they work on the same project communicating by video conference, phone or e-mail on a regular basis. The virtual team concept has started since 1973 (Mihhailova and Piiriste, n.d., p.9). In a company where the project is done in the face to face team then there is fixed team membership, the team members are located in one place, they are 100% dedicated as they have to work in one project and the team has only one manager. But in the virtual team there is much difference from the face to face team. There are many advantages and disadvantages associated in the virtual team process. Modern communication process has open a new window of collaborative work where the knowledge can be shared by the members of the organization who are in different places and this would be ultimately effective for the organization as a whole (Kimball, 1997, p.1). Despite of its advantages virtual teams becomes more complex day by day as there are many challenges when the persons work in a virtual team. The virtual team has to face the language difficulties as the virtual team members are from different locations of the world; there is problem of time zone, absence of face to face contact, reporting to different part of the organization. Also there are problems of conflict management; problem of making decision above all there is the problem of cultural barriers. There are some issues regarding culture of the workers as it can be different. Some workers of the team may be aggressive and some other may be of not that type. So there can be a misunderstanding ar ising between the team and so mistrust. When the Americans like a fast response and they use a sparse and targeted prose when they used to communicate by an e-mail; the Japanese are not of that type. They are in the side of a careful and proper response, the idea of the sparse prose where is problem of grammar is measured as an incomplete message. So working in this cross cultural situations where people from different cultures are there the culturally based problems usually arise, so the company has to solve the problem consciously for effectively manage the situation. When there is mistrust

Stigma of Self-Harm in Healthcare Services

Stigma of Self-Harm in Healthcare Services Self-harm a deliberate attempt to self-poison or self-injure regardless of the incentive or suicidal intent is a growing problem in the United Kingdom with a heavy burden on health-care systems. Despite this escalating crisis, attitudes from health professionals who treat self-harmers remain negative and the quality of care is deteriorating. The myths of why people self-harm play a substantial role in health professionals perceptions of self-harmers, which impacts on the efficacy of intervention and recovery rates; however, these myths are far from the reality. This article will reveal the stigma that self-harmers encounter from those at the front-line of our healthcare services and will seek to explain the real reasons behind self-harmful behaviour. By increasing public awareness and educating health professionals on the motives behind self-harmful behaviour, misconceptions and negative attitudes can be diminished. Studies show that self-harm is a common pattern among adolescents and young adults 13-25% has reported a history of self-injury. Although many young people only engage in self-harm once or twice, others go on to become chronic self-harmers, with studies evidencing that 6% of the college population do chronically self-harm. Still, these figures may be underestimated as many self-harmers do not seek help. Due to the lack of knowledge and negative misconceptions, those who do seek help report unsatisfactory care from paramedics and emergency staff, who are often the first point of contact. Front-line professionals are in a rare position to interrupt the cycle of self-harm; however, with inadequate rapport between staff and patients, the cycle will continue to have devastating consequences on individuals in need of help. The following misconceptions are put forward. The first misconception of why people self-harm is the desire to end ones life. In a systematic review of attitudes towards people who self harm, it was found that suicide-risk was a common reason for self-injury as agreed among most clinical staff groups (Saunders, Hawton, Fortune Farrell, 2012). Whilst self-harm is the biggest predictor of suicidality, those who self-injure do so as a means to manage their distress and cope with negative feelings. The affect regulation model of self-injury proposes that it is a method to relieve acute negative feelings and emotions. It is suggested that early environment may play a role in affect regulation by teaching poor coping strategies to deal with emotional distress. It is also suggested that those with a biological disposition for emotional instability may be more prone to resort to this strategy to manage their emotions. In a systematic review of self-harm (Edmondson, Brennan House, 2015), affect-regulation was found to be the most commo n reason for the behaviour. Quantitative studies revealed that the majority of participants (93%) favoured affect-regulation items such as to get relief from a terrible state of mind or calming myself down. This was further supported by qualitative studies which reported that the majority of participants (92%) endorsed in reasons such as relieving emotional pain or to calm myself when Im incredibly emotional or upset. In further support of the affect-regulation model, research has reported that self-harmers have a poor ability to regulate emotions when experiencing negative affect, as indicated by MRI scans revealing greater amygdala activation (Davis et al., 2014). Consequently, this research shows that self-harm is often carried out for the purpose of reducing negative emotions and to avoid attempting suicide, as opposed to the misconception of health professionals. The second misconception of why people self-harm is attention-seeking and manipulation. A study which examined nurses perceptions of self-harmers revealed that labels were used to describe patients such as attention seekers or time wasters (Shaw Sandy, 2016). Although some self-harmers agree that self-injury is an attention-seeking act, most insist that it is a help-seeking strategy. The interpersonal-influence model argues that self-harm is undertaken as a means of influencing people in the self-harmers environment. It is argued that self-harm is a cry for help, an avoidance of abandonment or an effort to ensure that they are listened to. To support this, research has found that the second most commonly reported reason for deliberate self-harm is a cry for help motive, including reasons such as to show how desperate I was feeling or to hope that others notice something is wrong (Muehlenkamp, Brausch, Quigley Whitlock, 2012). In a systematic review (Edmondson et al., 2015), interpe rsonal influence was a common reason for self-harm. Quantitative studies revealed that a large majority of participants (87%) favoured interpersonal influence items such as to seek help from someone or letting others know the extent of my physical pain. This was further supported by qualitative studies which reported that over half of the participants (56%) supported interpersonal reasons such as I received the warmth, love and attention I had been looking for. Reasons such as to frighten someone or to shock or hurt someone are least commonly endorsed. This research supports the view that self-harm is a call for help, unlike the misconception which suggests that self-harm is an act of manipulation. A third misconception is that self-harmers can stop if they want to. Although this is true for some, studies have shown that self-harm can become an addiction. In substance addiction, there is a positive reinforcement which is associated with increasing dopamine levels in the brain and negative reinforcement which is associated with relieving negative mood states. Research has found that negative reinforcement plays a part in self-injury. Participants generally experience negative feelings before self-harming, including sadness and frustration but subsequently experience positive feelings after the act, including euphoria and satisfaction (Klonsky, 2009). In a qualitative study, participants compared their self-harm to having a drug addiction (Brown Kimball, 2012). They declared that self-injury was a reliable fix for overwhelming feelings and they had experienced highs from their self-harming behaviour. Participants also stated that their need to self-harm progressed over time, inc luding the frequency and intensity, and when trying to stop the behaviour they would feel a greater urge to continue. Furthermore, biological research has found that self-harmful behaviour releases endorphins in the brain which produces a euphoric state, reducing pain and alleviating emotional distress (Sher Stanley, 2009). Therefore, self-harmful behaviour can be overpowering and can be a challenge to cease, unlike the misconception that one can easily stop if they want to. Although the code of professional conduct states that health professionals should be kind, respectful, compassionate, non-judgemental and show an appreciation of diversity and equality, it appears that many hospital staff are not following this important regime. Whilst these misconceptions are circulating healthcare systems, perceptions and attitudes toward self-harmers remain unchanged. Discrimination towards those vulnerable can be direct and indirect. Research has revealed that some staff deliberately distant themselves from self-harming patients because they hold feelings of irritation, anger and frustration towards them, especially those who frequently return to hospital (Conlon Tuathail, 2012). Some health professionals may not be aware of their attitude; however, their demeanour and manner towards patients can appear obvious to the recipient. As a result, self-harming patients become less of a priority compared to those with a physical illness; consequently, influencing their entitlement to care. Correspondingly, many self-harming patients feel ignored by health professionals and believe that they are perceived as harder work or time consumers (Chapman Martin, 2014). Research has found that young people who self-harm have reported avoiding the access and emergency department due to their own and others previous unsatisfactory experiences. It has been reported that patients have experienced discrimination and have been denied care, such as pain relief, because they have caused their own injuries. Patients were also denied information and were talked about in an ignorant manner. They were also told by health professionals that they were selfish, inconsiderate and were wasting time that could be spent on real patients. Consequently, negative attitudes reinforced the feelings of shame and worthlessness leading to further self-harmful behaviour. This influenced their future decisions to avoid help from health professionals (Owens, Hansford, Sharkey Ford, 2016). Although some health professionals can be stigmatizing towards self-harming patients, other professionals such as nurses feel helpless, powerless and dissatisfied when caring for these patients due to lack of knowledge and training. Nurses feel frustrated as the emergency department is not helpful in treating patients who self-harm the busy nature of the environment, lack of time, privacy and resources all of which prevent the development of therapeutic relationships (Martin Chapman, 2014). Nurses feel that treatments and interventions are insufficient and self-harm patients require specialist treatment which the emergency department cannot provide (Gibb et al., 2010). Research has found a negative relationship between staff members negative attitudes and knowledge: health professionals who have an accurate knowledge of self-harmful behaviour show a more positive attitude overall and feel more effective at treating patients. Moreover, when nurses are keen to empathise with self-ha rming patients, the rapport between the nurse and patient is generally more positive (Tzeng, Yang, Tzeng Chen, 2010). Research has shown that when nurses are provided with mental health training, their attitude changes towards those who self-harm. For example, nurses become more empathetic and patient-orientated. Nurses also described having more confidence to communicate effectively with patients. This positively influenced feedback from patients and the team atmosphere (Karman, Kool, Gamel Meijel, 2015). Key findings: There are three main misconceptions surrounding the motives and intentions of self-harm self-harmers are suicidal, attention seeking and/or manipulative, and they have the ability to stop self-harming when they want to. Psychological theories (the affect-regulation model, the interpersonal-influence model) and research challenge these misconceptions and claim that people self-injure in order to manage their emotions or to seek help from those around them, and their ability to stop can be hindered by the addictive nature. Health professionals direct and indirect behaviour can influence the care that a self-harming patient receives, potentially increasing the risk of further self-harm. Health professionals report feeling powerless when caring for self-harming patients due to the nature of the environment, lack of resources, skills and knowledge. Self-harming patients are receiving unsatisfactory care which suggests that there is a lack of knowledge and procedure for managing these patients. The national guidelines are designed to influence local and departmental policies to lead front-line staff; however, this system appears to be failing, as the procedure to care for those who self-harm remains ineffective (Rees, Rapport, Thomas, John Snooks, 2014). Health professions working in the National Health Service are already under strenuous pressure, working long hours and coping with increasing workloads and organisational changes due to the lack of resources and funding. At present, this is an on-going struggle for staff, so with the accumulation of further education and training, this may be seem like an impossible challenge. Nevertheless, patients are priority in the code of professional conduct and it is an ethical issue if health professionals continue to ignore this code. In any case, there is a strong link between self-harm and suicide, despite many self-harmers agreeing that suicidality is not a motive. Therefore, these patients should be taken seriously and health professionals should be made aware of the risk of suicide, especially those who are inexperienced. Consequently, there are many suggestions that can be made in order to reduce stigma and improve healthcare for those who self-injure. First, health professionals should be educated on the motives behind self-harmful behaviour and the context in which it occurs. Education may not work alone; therefore, it may be beneficial if a trainer with personal experiences of self-harm shares their story in order to inform professionals through a traditional-transference approach (Karman, Kool, Gamel Meijel, 2015). This will provide professionals with a deeper understanding and will help to change perceptions of those who self-harm. They should also be educated on communication and interpersonal skills, which will help to enhance therapeutic relationships between staff members and patients. In addition to education, on-going training for health professionals should be provided to continuously update their knowledge and skills to care for those with self-injuries. Training should cover knowledge, understanding, attitudes, behaviours, risk assessment and management of self-harming patients. Staff should also be trained to identify risky behaviours and to understand the barriers that self-harmers encounter, as well as understanding their mental health needs and helping them to seek advice and guidance. In addition, refection in practice should be encouraged when caring for people who self-harm. In short, policy documents, care pathways, protocols and local guidelines should be reviewed and revised so that education and training needs of health professionals are met. This will potentially influence the care that self-harmers receive. Health professionals should treat self-harming patients as any other sick patients on the ward and communicate sensitively. They should aim to develop rapport with patient in order to improve patients engagement with the services. Nevertheless, health professionals who work on wards where self-harm is severe may also require extra support from colleagues and managers or may require psychological support such as debriefing. If the pressure is too intense for health professionals, a brief screening tool could be introduce to help identify those at risk of suicide. Alternatively, there could be a specialised clinician working on emergency departments supervising front-line staff. Thus, a multi-disciplinary framework may be the ultimate approach to success which will also relieve some pressure off front-line staff. The context which care is provided to patients and the lack of training and support from managers can challenge professionals ability to do their job which affects their confidence and increases feelings of frustration and negativity.

A New Vision of Science :: Science Scientific Papers

A New Vision of Science ABSTRACT: Traditional convictions regarding science (such as universalism, necessity and eternal validity) are currently in doubt. Relativism seems to destroy scientific claims to rationality. This paper shows a way to keep the traditional convictions of scientific knowledge while acknowledging relativism. With reference to the practicing scientist, we replace descriptivism with constructivism; we modify relative validity with the claim to understanding; and, we offer methodological strategies for acquiring understanding. These strategies we call strangification, which means taking a scientific proposition system out of its context and putting it in another context. We can thus see the implicit presuppositions of the given proposition system by means of the problems arising out of the application of this procedure. Such a change in the understanding of science holds important consequences. There is a personal background for the new understanding of science I am proposing in this article. These ideas that are now comprised within the notion Constructive Realism have been developed over the last twenty years during interactions and in cooperatio with other scientists. Now I am giving them my voice for a couple of short arguments why this new understanding isneeded today. It should be mentioned that the dialogue with my former friends from the Vienna Circle hs, to some extent, been important in this process. The Vienna Circle was so complex and encompassed so many different ideas that some traces of what I am argueing can be found there. Presently, however, my own understanding of sciencehas departed crucially from what is usually considered as the Vienna Circle's stance toward science. Without being aware of it, the Vienna Circle was the last great attempt for a rational metaphysics of science. It was trying to establish a correspondence of purified human mind with the w orld. Probably, this is why they argued so sharply against traditional, i.e. irrational metaphysics. Contrary to the declared position of most of the Vienna Circle's members, however, Constructive Realism does not struggle against metaphysics. I appreciated very much the example of Erwin Schrà ¶dinger because it has wonderfully shown in which degree a scientist is influenced by his metaphysical background. Checking the bckgound of scientific doing one is getting a lot of impressions about metaphysical world.comcepts, metaphysical concepts of knowledge etc. If we lay aside our apprehension to touch metaphysics, science can even bepushed forward by it. In fact we should have many metaphysics. They are offereing unusual perspectives and this is exactly what science needs to progress.