Belize Essay Example For Students

Belize Essay IINTRODUCTION Belize, independent state, northeastern Central America, bounded on the north and northwest by Mexico, on the east by the Caribbean Sea, and on the south and west by Guatemala. Belize, until 1973 known as British Honduras, became independent in 1981 and is a member of the Commonwealth of Nations. The total area of Belize is 22,965 sq km (8867 sq mi). IILAND AND RESOURCES The northern half of Belize consists of lowlands, large areas of which are swampy. The southern half is dominated by mountain ranges, notably the Maya Mountains, which rise to a maximum elevation of 1120 m (3675 ft) atop Victoria Peak. The Caribbean coastline is fringed by coral barrier reefs and numerous cays (islets). The principal streams are the Belize River; the R?o Azul, which forms much of the boundary with Mexico; and the Sarst?n River, which forms the southwestern boundary with Guatemala. The climate of Belize is subtropical, moderated by sea breezes along the coast. The average annual temperature is about 26? C (about 79? F). The total annual rainfall increases from north to south and averages about 1800 mm (about 71 in). A rainy season extends from May to February. Some 86 percent Belize is covered by forests. Deciduous trees are found in the north; tropical hardwood trees predominate in the south. Principal species include the commercially important mahogany, cedar, and rosewood, as well as pine, oak, and palms. Mangrove swamp vegetation is found along the coast. Wildlife includes jaguar, deer, tapir, and numerous species of birds and reptiles. IIIPOPULATION AND EDUCATION The majority of the population of Belize is of mixed racial descent. The largest group is of black or partly black ancestry. Other groups include Native Americans, principally Carib and Mayan, located in the north and west; people of European descent, mainly English and Spanish; and people of mixed Native American-European descent. The population of Belize is 224,663 (1997 estimate). The overall density of 10 persons per sq km (25 per sq mi) is the lowest in Central America. Population is concentrated in a few principal urban centers, of which Belize City (population, 1988 estimate, 49,671) is the largest; it is also the principal port. Belmopan (1988 estimate, 3694), a newly constructed city, supplanted Belize City as the official capital in 1972. English is the official language; other languages spoken include Carib, Mayan, Spanish, and a Creole dialect of English. More than half the people are Roman Catholic, and most of the remainder are Protestant. Education is compulsory for children between the ages of 5 and 14. In the 1994-1995 school year 51,377 pupils were enrolled in primary schools, and 10,147 students were enrolled in secondary schools. Higher education is available at colleges in Belize City and Corozal. The literacy rate of 91 percent is one of the highest in Latin America. IVGOVERNMENT Belize is governed under a constitution that became effective at independence in 1981. The British sovereign is head of state and is represented by a governor-general, who has little power. Executive power is mainly exercised by a cabinet of ministers, led by a prime minister. The bicameral National Assembly consists of a Senate of 8 appointed members and a House of Representatives of 28 members elected by universal suffrage to terms of up to five years. The prime minister must have the support of a majority of the members of the House. The leading political parties are the Peoples United Party (1950) and the United Democratic Party (1974). VECONOMY The main economic resource is Belizes arable land, although only 3 percent of the total land area is under cultivation. Agricultural exports include sugar, citrus fruits, and bananas. Rice, beans, and corn are grown as subsistence crops. Lumbering, formerly the chief economic activity, has declined in importance. Major manufactures are processed food, wood products, and clothing. A road network of 2248 km (1397 mi) links the major urban centers, but some areas remain inaccessible. An international airport serves Belize City. The unit of currency is the Belize dollar (2 Belize dollars equal U.S.$1; 1996 fixed rate). In 1995 exports earned $139 million, and imports cost $258 million. The governments budget included $133 million in revenue and $180 million in expenditure in 1995. .ud50d9f3812e23865ee80d18d2493364c , .ud50d9f3812e23865ee80d18d2493364c .postImageUrl , .ud50d9f3812e23865ee80d18d2493364c .centered-text-area { min-height: 80px; position: relative; } .ud50d9f3812e23865ee80d18d2493364c , .ud50d9f3812e23865ee80d18d2493364c:hover , .ud50d9f3812e23865ee80d18d2493364c:visited , .ud50d9f3812e23865ee80d18d2493364c:active { border:0!important; } .ud50d9f3812e23865ee80d18d2493364c .clearfix:after { content: ""; display: table; clear: both; } .ud50d9f3812e23865ee80d18d2493364c { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ud50d9f3812e23865ee80d18d2493364c:active , .ud50d9f3812e23865ee80d18d2493364c:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ud50d9f3812e23865ee80d18d2493364c .centered-text-area { width: 100%; position: relative ; } .ud50d9f3812e23865ee80d18d2493364c .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ud50d9f3812e23865ee80d18d2493364c .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ud50d9f3812e23865ee80d18d2493364c .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ud50d9f3812e23865ee80d18d2493364c:hover .ctaButton { background-color: #34495E!important; } .ud50d9f3812e23865ee80d18d2493364c .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ud50d9f3812e23865ee80d18d2493364c .ud50d9f3812e23865ee80d18d2493364c-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ud50d9f3812e23865ee80d18d2493364c:after { content: ""; display: block; clear: both; } READ: IT IS A CONTROVERSIAL SUBJECT ON NATURE OR NURTURE HAS A MORE PROFOUND EssayVIHISTORY In pre-Columbian times Belize was part of the territory of the Maya. It was included in the viceroyalty of New Spain in the 1500s, and sometime later English woodcutters from Jamaica established a settlement on the Belize River. During the wars between England and Spain in the 1700s, Spain failed to dislodge the British from the area. In 1836, after the emancipation of Central America from Spanish rule, the British claimed the right to administer the region; it was declared a British colony, subordinate to Jamaica, in 1862 and an independent crown colony in 1884. Long-range constitutional reforms were initiated by the British in 1954, resulting in a new constitution ten years later. Progress toward independence, however, was hampered by an old Guatemalan claim to sovereignty over the territory. When Belize finally attained full independence on September 21, 1981, Guatemala refused to recognize the new nation; about 1500 British troops remained to protect Belize from the Guatemalan threat. Prime Minister George Price of the United Party, who had led the country to independence, was replaced by Manuel Esquivel when Belize held its first national elections, on December 14, 1984. Price returned to power after the elections of September 1989. In May 1993 the United Kingdom announced that it would end its military involvement in Belize. All British troops would evacuate the country by October 1994. Esquivel regained the prime ministership in June 1993 elections. In July Esquivel announced the suspension of a pact reached with Guatemala during Price s prime ministership, claiming Price had made too many concessions in order to gain Guatemalan recognition. The pact would have resolved a 130-year-old border dispute between the two countries. Geography

Target Market and Positioning Strategy Identification Tracking down the Flaws of Existing Policy

Introduction. Facing the End of an Era: Pfizer, Inc Moving in the fast lane with the currently developing world is quite an uneasy, though doubtlessly rewarding task. Because of the changes which the economical society and the world market are undergoing, companies are forced to change their strategies to adapt to the new conditions, as well as withstand the increasing competition.Advertising We will write a custom case study sample on Target Market and Positioning Strategy Identification: Tracking down the Flaws of Existing Policy specifically for you for only $16.05 $11/page Learn More One of the most graphic examples of the given phenomenon, Pfizer Inc., was forced to change its marketing strategy to adapt to the current standards of marketing. However, according to the case study, despite the changes, the company is still in a losing position. Unless new ways of development are suggested, the company is bound to face certain difficulties; however, re considering the current marketing strategy, one can possibly suggest new means of boosting the company’s success. A Description of the Target Market: When the Supply Meets the Demand To assess the efficiency of the changes which Pfizer Inc. has decided to apply to increase their revenues, the target market which the company aims at winning must be considered. Once the target audience is defined, it is considerably easier to analyze their demands and come up with peculiar propositions. It is obvious that the company aims at delivering products for the people of middle and high class, offering the medicine which is rather expensive, yet innovative and efficient: according to the case study, the key goal of the company is â€Å"to persuade medical professionals the world over to make Pfizer drugs the treatment of choice for their patients’ aches and pains† (Case 2–1. Pfizer, Inc., n.d., 156). Thus, it is clear that the company’s target market is the p eople who suffer from the diseases which require rare and expensive medicine. However, according to the report, the company has decided to change the given niche – rather unwillingly, though – to another one. â€Å"Normally a new entry creates new interest in the market. That doesn’t seem to be happening here† (Case 2–1. Pfizer, Inc., n.d., 157), McKinnel says. However, the company y seems to keep to their blockbuster strategy, which means that the current trend to offer medicine for â€Å"the diseases that remain without satisfactory treatments† (Case 2–1. Pfizer, Inc., n.d., 157) seems to be the current niche.Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Analyzing the above-mentioned, one has to say that the key problem of the company is that they are hesitant about their further course. Although the old strategy has been used to de ath, Pfizer Inc. still cannot change its course because of the success of the previous strategy. Therefore, the company needs to aim at wider target audience and offer not only the medicine for a very specific group, e.g., Viagra, but also the medicine which can be used by people of both sexes and embrace the age group ranging from, say, 10 to 70. Discussing the Positioning Strategy: Pfizer, Inc. and the Current Solutions It goes without saying that positioning of the produced goods is as important as meeting the customers’ demand, mostly because a good positioning strategy not only helps people find the products which they are looking for, but also to drive their attention to the innovations in the given sphere. Regarding the current positioning strategy which the company follows, one must mention that Pfizer Inc. It seems that the company needs to pick a more subtle positioning technique, since â€Å"Overly aggressive marketing also has made drug companies easier targets p olitically† (Case 2–1. Pfizer, Inc., n.d., 161). Hence, a more subtle and less loud publicity should be adopted. For instance, the company can develop an advertising campaign with a show-do-not-tell principle, since the last attempt of the kind was quite successful: â€Å"The company invested nearly $20 million in a program in Florida that was intended to show that better utilization of drugs would actually save the state money. It did† (Case 2–1. Pfizer, Inc., n.d., 161). The Changes to Targeting and Positioning: Reasonable Suggestions As it has been mentioned before, the current positioning strategy which Pfizer Inc. follows leaves much to be desired. However, it is also necessary to keep in mind that the company y has sufficient reasons not to change the existing strategy. As the report says, the company is currently focuses on the development of â€Å"another HDL -raising drug† (Case 2–1. Pfizer, Inc., n.d., 159). Therefore, the company h as changed its target clientele, since the HDL deficiency can occur at literally any age. However, the company still focuses on developing a certain â€Å"blockbuster† medicine.Advertising We will write a custom case study sample on Target Market and Positioning Strategy Identification: Tracking down the Flaws of Existing Policy specifically for you for only $16.05 $11/page Learn More Hence, it is necessary to develop the strategy which will keep the basic premises of the current one, yet be targeted to more general public and offer the medicine for the diseases which a lot of people suffer from. As one can see from the facts provided above, the company has met the first condition, broadening the target group, yet still offers the â€Å"panacea† for a â€Å"topical† disease. What Needs to Be Done: Watching the Competitors, Planning the Moves With the help of the above-mentioned plan, Pfizer Inc. is most likely to withstand the rapid changes and even succeed in attracting even more clients. However, it is also worth keeping in mind that other fields apart from marketing should be taken care of. One of such fields, the aspect of the company’s competitiveness, should be considered as soon as possible, given that Pfizer Inc. is going to enter the global market and, therefore, face a number of rivals. According to what Hooley, Piercy Nicoulaud (2008) claim, it is also crucial to assess the strategies and objectives of the competitors, taking into account their strong and weak points to fill in the niche which they have not noticed yet or cannot fill themselves in. However, the analysis of the existing competitors might take considerable time, since it consists of several stages: Competitor analysis, therefore, involves evaluating a series of concentric circles of adversaries: innermost and the direct competitors within the strategic group, next come companies within the industry that are driven to overcome the entry barriers to the strategic group, and then the outermost potential entrants and substitutes. (Hooley, Piercy Nicoulaud, 2008, 119) Therefore, the numerous rivals of Pfizer Inc. must be taken into account. Once Pfizer Inc. Learns its key adversaries, the company will be able to assess its potential more objectively. Moreover, a certain niche for the company will be found faster. Taking into account the above-mentioned, it is most reasonable to suggest that the company should analyze the score and the achievements of the competitors, as well as check whether it is possible to attract their clientele to Pfizer Inc.Advertising Looking for case study on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Conclusion: Further Recommendations and the Future Prospects. Pfizer Will Live Thus, it is obvious that, despite the complexities which Pfizer is currently handling with, the company has an alternative way of development, which not only incorporates the elements of the preset-day strategy, but also suggests the solutions to the current problems. However, it must be admitted that the suggested plan requires certain compromises and changes in the course which the company is currently taking, which means that considerable losses are going to be taken in the process. Reference List Case 2–1. Pfizer, Inc. (n.d.). Retrieved from ProtectedPDF database. Hooley, G., Piercy, N. F., Nicoulau, B. (2008). Marketing strategy and competitive positioning (4th ed.). Upper Saddle River, NJ: Pearson. This case study on Target Market and Positioning Strategy Identification: Tracking down the Flaws of Existing Policy was written and submitted by user Edith Martin to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

A Walk On The Beach Essays - , Term Papers

A Walk On The Beach one day i wrote her name upon the Beach but came the waves and washed it away again i wrote it with second hand but came the tide, and made mt pains his prey vain man said she, that dost in assay A mortal thing so to immortalize For myself shall like to this decay and also my name be wiped out likewise not so, Said I. let baser things devise to die in dust, but you shall live by fame My verse you virtues rare shall eternize and in the heavens write your glorious name Where whenas death shall all the world subdue our love shall live, and later life renew Poetry and Poets

Repercussion of Great Depression

Repercussion of Great Depression Introduction The recent recession triggered by the housing market, bubble bust in the United States cases a negative ripple effect in the world’s financial markets. It triggered a recession that led to loss of millions of jobs in the world. Many governments had to institute bail out to save companies from collapsing.Advertising We will write a custom essay sample on Repercussion of Great Depression specifically for you for only $16.05 $11/page Learn More The governments also instituted austerity measures that necessitated the slashing of national budgets effectively laying off millions of government workers globally. The US mortgage crisis that was the genesis of the financial crisis is blamed on the laxity of law enforcers or failure of the laws that have governed the financial market in the US. After the great depression in 1933, the US enacted laws that aimed to stem another crisis of the Great Depression’s magnitude. Though the great recess ion was not as serious as the Depression, it cased major financial imbalances that will take years to recover. It’s therefore safe to assume that the laws that have been crafted over time since the Great depression to guard financial markets against such crises have failed to work, or so it seems. The administrations of both Presidents Obama and Bush ensured the enactment of laws that stemmed the crises and stopped the bleeding of jobs. This action by the two administrations is reminiscent of the many that have characterized the formation and adoption of public policies especially those that are business oriented. The motivations behind the laws of this nature is the perceived gap created by business practices that are likely to result in uncouth business practices or complications in the financial system that lead to such crises. The laws are also crafted to protect investors from losing their money when these transactions are not carried out within the law. One such act is the Gramm–Leach–Bliley Act (GLB), also referred to as the Financial Services Modernization Act of 1999, (Pub.L. 106-102, 113 Stat. 1338). The paper will focus its analysis on this law, its history, the rationale behind its enactment, its implementation, its impacts and the policy analysis. Gramm–Leach–Bliley Act (GLB) (Pub.L. 106-102, 113 Stat. 1338) History of the Act This a federal act of the United State enacted in the year 1999 and signed to law by President Bill Clinton. The law sought to regulate the dealings of financial institutions regarding the private information of their clients (Ingersoll et al. 1999, p. 48). To effectively work, the law included three parts i.e. The Financial Privacy Rule that governs the collection and use of private information, the Safeguards rule that governs the implementation of security programs by financial institutions.Advertising Looking for essay on business economics? Let's see if we can help you! Get yo ur first paper with 15% OFF Learn More On that bit, the law requires the financial institutions to implement security systems that ensure effective security of clients’ private information. The last component of the law is the Pretexting provisions, which aims to curb access to client information through false pretence and /or impersonation. Additionally, the law makes it mandatory for financial institutions to serve to customer written notices that explain in detail their institutional practices about sharing information (Rezaee, 2001, p. 106). The above however was not the main reason why this act was passed. The main reason for the enactment of the law was to facilitate the opening up of the market among companies in the larger financial sector mainly; banking companies, securities companies and insurance companies. Through the Gramm–Leach–Bliley Act (GLB), curbs imposed by the Glass–Steagall Act of 1933 prohibiting companies to offer b anking, insurance and brokerage services were removed.. The act in effect opened the gate for the merger of the companies operating in the three sections described above. The removal of the regulations however presented major gaps that potentially put customer private information at risk. Because of the mergers that were anticipated, there was a feeling that the companies may access, consolidate the customer information they had and sell it for other purposes other than for business. For instance, insurance companies were largely in control of most health records while banks maintained a huge database of financial information. Brokerage firms on the other hand had significant information on investment activities of their clients. A merger of the three of even two of them will have therefore exposed the customers to greater risks of illegal access and use of information. That is why the act contained the privacy provisions that regulate the use and sharing of private information of c ustomer of companies that needed to merge. Need for Enactment The need to enact the Gramm–Leach–Bliley Act (GLB) act was due to both business and government failures (Biegelman, 2009, p. 76). The US lawmakers referred to the law as a modernization law that meant to unlock the potential that financial companies had. Through that argument, Congress passed the law that repealed sections of the Glass–Steagall Act of 1933 and the Bank Holding Company Act that forbade banking companies from carrying out activities deemed to belong to the insurance sector. Congress therefore felt some potential for economic growth was inhibited by the absence of such a law. Through the GLBA act, banks were eligible to engage in a variety of financial services.Advertising We will write a custom essay sample on Repercussion of Great Depression specifically for you for only $16.05 $11/page Learn More At the same time, mergers taking place at the time in other ind ustries apart from the financial sector in Europe especially led to the inclusion of the privacy elements of the law (Axelrod, 2009, p. 59). The European Union enacted the Data Protection Directive that required non-EU companies that dealt with EU citizens’ data to provide the same protection that these citizens were afforded in the EU zone. The self-regulatory system in the US was especially not favored by the EU hence the need to enact legislation in the US that provided the same protection as the EU. At the same time, there was overwhelming public opinion in the US that demonstrated dissatisfaction on the way banks and other financial institutions handled private information. Furthermore, there were scandals that served to highlights the risks involved in the breach of privacy. For instance, there was a scandal involving the Charter Pacific Bank of Agoura Hills, California and an adult website company. The bank illegally sold private credit card information of its clients to the company. The company then debited the accounts of the clients for services not rendered. In 1998, NationsBank was charged and fined millions for selling customer information to an affiliate investment company. The affiliate used the information to market its high-risk products to low risk borrower who in turn lost millions of dollars. Another case involved U.S. Bankcorp and the Minnesota Attorney General when he sued it for selling customer private information with third party marketers. The increasing private information violations and the expected avalanche of merger needed to be controlled. The GLBA provided the solution. Implementation The GLBA is a federal act and therefore it’s enforced by federal agencies (Dunham, 2000, p. 98). The various federal agencies are in charge of enforcing the GLBA law. The agencies are those that are involved directly overseeing regulation of financial institutions and other companies deemed to be financial institutions as specified b y the GLBA act. The most important institution that is involved in the implementation is the Office of the Comptroller of the Currency. Other are the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation, both of who should work together with the comptroller of currency.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Other agencies tasked with implementing the law include the Office of Thrift Supervision, The Securities and Exchange Commission, and the National Credit Union Administration. Additionally, the individual State Insurance authorities and the Federal Trade Commission (FTC) also have a hand in enforcing the GLBA act. According to the GLBA, financial institutions are companies that avail financial services to individuals. These services may include and not limited to loans, financial and/or investment advice, and insurance services. According to the act, all institutions that meet the definition of a â€Å"financial institution† directly or by incident fall under the jurisdiction of the Federal Trade Commission. Non-bank mortgage lenders, real estate settlement service providers, banks, debt collectors, financial and/or investment advisors, loans brokers and real estate appraisers fall under this category that is directly administered by the FTC. For the enforcing institutions me ntioned above to effectively exercise their jurisdiction, it’s important that the financial institutions must be significantly be engaged in financial services or production that clearly makes them financial institutions. In the insurance sector, the GLBA states that jurisdiction is first enforced by the state so long as the law of the state minimally complies with the Act. Further, the state law can only enact provision for stricter compliance and not less than what the GLBA requires. It is important to note that the law sets the floor and ceiling that state laws can reach. It therefore means that the states can pass laws stricter than the federal version but not less. Impact on Business and Society/Successes Since its passage, the GBLA law has registered mixed success. Many companies have taken the advantage to merge while client’s private information is safer than it used to be. At least the occurrence of scandals involving divulging of client information has been m inimal. There is a feeling however that these success have not been realized optimally. It’s therefore important that the hurdles that are preventing more companies merging be eliminated before considerable success id realized. The Department of treasury says that the reaction to the GLB act has been evolutionary rather than radical. In 2003, the Department of treasury reported that out of the 6415 banking institutions in the US at the time, only a handful-633 had taken advantage of the act to transform to financial holding companies (Moeller, 2005, p. 76). Moeller (2005, p.76) says that consolidation took place but not in the scale and speed that nay analysts has predicted. This was due to a number of factors. According to (Winston Winston, 2009, p. 64) retail, banks have difficulty in buying insurance underwriters as opposed to brokerage of insurance services. Lack of experience in these banks that would have wanted to engage in wide financial services contributed to the l ack of enthusiasm form these financial players. Similarly, there was slow venturing into banking by brokerage firms owing to their diminished branch network, and lack of back shop footprint. There have been some mergers since the enactment of this law, for instance the 2004 merger of Bank of America with Fleet Boston. Despite the merger however, the conglomerates have experienced problems concerning difficulty in integrating investiments and insurance services. Additionally many other banks have had trouble with packaging of investiments and banking services to an extent that some of them have had to engage in questionable arrangements that have caused scandals. Despite the look warm reception, the treasury reported that the financial sector that has experienced the most significant change since the introduction of the Act is the securities, underwriting and dealing sectors. In these sectors, Department of Treasury says that banks have increased their ownership and as well as activi ties. Similarly, banking involvement in the insurance industry has experienced significant changes as a direct result of the enactment of this law. According to Moeller (2005, p.85), the GLBA legislation introduced significant alteration to the legal framework that governs activities of financial organizations and their affiliates in the United States. The alterations were chiefly brought by the repeal of the some sections of the Galss-Steagall Act as well as the Bank Holding Company act of 1956. (Rezaee, 2001, p. 120), states that the law has had limited impact on the Federal Home Loan Bank provisions. The act had provisions whose aim was to expand the FHLBank system for the smaller depository institutions in the US. Under the law, eligibility of several collaterals was extended for the advancement of loans to small businesses. The provisions collectively are thought to have positively impacted small businesses. Policy analysis The enactment of the GLBA act opened the markets for m ergers and acquisitions in the financial sector (Winston Winston, 2009, p. 64). Many companies in the industry favored the passage of the act at the time. One argument that they put forwards was that after the passage individuals will be able to carry out their financial transactions at one go instead of doing savings and investiments at different institutions. One of the earliest beneficiaries of the passage of the act was CitiGroup, which had merged with traveler insurance. However since the law at the time could not allow, the new entity had to be issued with a forbearance until the act was passed hence acquiring full legal status (Mayer et al 1999). Weaknesses There has been a lot of analysis on the effects and effectiveness of the GLBA act. However, the law is criticized by as having a number of flaws that contribute to its weaknesses (Schell, 1999, p. 56). The Act according to (Schell, 1999, p. 60), GLBA does not protect consumers. The opt out standards has been cited as one of the many provisions so GLBA that unfairly places on an individual to protect privacy. The opt-out standard effectively puts the customer on weaker position to control their financial information that they may consider private. The provision assumes that the financial institutions will share the customer information unless they are told not to. Additionally it assumes that financials institutions are free to share the customer information incase of non-response from customers when the institution communicates to them. The enforcement mechanisms of the GLBA have also come under attack.. (Rezaee, 2001, p. 130) asserts that enforcement and compensation mechanism laid out in the act are quite weak. He says that the mechanisms are weak to a point that they cannot assure compliance even in the face of the existing weak privacy protection mechanisms. The fact that enforcement largely rests with federal agencies leaving the individual with virtually no right of protection is a weak point that does not adequately address the problem at hand. Another weakness of the GLBA is the fact that it leaves a gap under the service provider/ joint marketing exemption. Under this exemption, the financial institutions can freely share private customer information with third parties even if the customer has opted out. This gap can easily be exploited by companies who may misuse customer information under the pretext of joint marketing. Customer control of affiliate marketing information sharing is severely hampered. Customers who may be engaged in affiliate marketing have little control over sharing or their information since they have not been considered under the opt out provision. (Benson et al. 1999, p. 79) says that financial institutions can easily amass hundreds of affiliates, which may not be dealing in financial services. They can then share customer information since customers will not be having an opt out right. The notices that will be issued under the third provision o f the privacy section are written in legal jargon, that most ordinary people won’t understand. The law assumes that companies will assists customers by explaining the complex legal information that will help a customer make an informed choice. There is also the concern over the convoluted and confiding opt out notices and policies. The confusion that more often misleads clients is purposely done to serve the issuing entity’s interests. The act provides little room for maneuver of customers in the cases where the notices lack transparency. Additionally, the notices that GLBA demand be issued state the companies inform customers of their intention to share the information. However, they do not provide for a provision that requires the companies to reveal with whom they are sharing the information (Schell, 1999, p. 99). Many financial sector critics including President Obama have hit out at the law as the main cause of the 2007 financial crisis that almost led to the coll apse of the global financial system. According to the critics, the law led to the deregulation of the financial industry. Deregulation facilitated the formation of gigantic companies that were obsessed with the â€Å"too big to fail† attitude. Furthermore, the law necessitated less oversight on sensitive financial dealings such as derivatives that were later taken advantage of by unethical financial dealers. Recommendations In the face of the above weaknesses, there is a need for the amendment of the GLBA act to institute changes that will ensure better protection of consumers and security of the financial system. There is need for financial institutions to implement an opt out approach that defines the use of personal information. That way, accidental, unwanted or disclosure through negligence will be avoided besides placing the burden on the actors who will be receive and gain from the disclosed information. This way the financial institutions will be protecting themselves and the privacy of their customers. Failure to implement and use of the opt out provision for advancement of corporate interests is likely to adversely affect the companies (Benson et al. 1999, p. 47). Additionally, financial institution should consider availing and accept alternative opt out methods in cases where an opt out framework is maintained by the institution. An amendment requiring the financial institutions to avail the opt out process through local branch offices or through the internet needs to be done. This will help customers make an informed decision when opting out. On the same note, the financial institutions should be required to provide simple and coherent privacy policies. The law should ensure these policies follow universal standards of readability for the enhancement of transparency (Benson et al. 1999, p. 47). It’s important that the amendments to the GLBA law require financial institutions ton disclose that the information that they collect will be u sed for. This can be availed in the privacy reports and will greatly enhance transparency and accountability in these institutions. Furthermore, the amendments should require financial institutions to grant customers rights to statutory access to be enlightened about industry practices. As a result customers will be informed on the information collecting process as well as their uses. It will come in hand in making decisions. One of the most glaring omissions by the GLBA is the failure to give state authorities power to oversee the transactions carried out by these financial institutions. It is therefore important for any amendments to include provisions that will grant state authorities concurrent jurisdiction for the effective enforcement of the law. Given that all companies are situated in individual states, the states’ law enforcement agencies will be better placed to implement the law’s provisions (Schell, 1999, p. 101). The law will also need to have provisions t hat will make it easier for offended clients to seek redress when privacy rights have been violated. Currently the law does not give a private right of action, which greatly hampers individuals in seeking redress especially if there are issues with opting out. Additionally, the amendments should consider giving the individual the right to access and review the information so that he/she can help in correction in cases of inaccuracies and/ or incomplete data. There needs to amendments that help in the regulation of sensitive financial market practices such as trading in derivatives. Former president Clinton admitted that he was wrong and probably he may have been misled to accept the provisions of the law on the matter such as derivatives. The law as it is gives too much autonomy to financial companies. The autonomy has been unethically used and contributed to the fall of the housing market in 2008. Many analysts believe the law should have been implemented in bits. The provisions co ntained in the law gave too much freedom to the financial sector in a sudden manner that clearly overwhelmed many institutions. They also contend that the scope of operation given to these financial institutions should be reduced probably to more or less, to what it was under the Glass–Steagall Act of 1933. Its safe to assume that the provisions of this law that were repealed when the GLBA came to law played a crucial role in stemming a crisis of similar to the great depression and the 2008 financial crisis. References Axelrod, W. et al. (2009). Enterprise information security and privacy. New York: Thomson learning. Benson et al. (1999). Financial services modernization: Gramm-Leach-Bliley Act of 1999. Washington: Routledge. Biegelman, T. M. (2009). Identity Theft Handbook: Detection, Prevention, and Security. New York: Cengage Learning. Dunham, B. W. (2000). After the Gramm-Leach-Bliley Act: a road map for insurance companies. Burlington: Thomsons Learning. Ingersoll et al. (1999). Gramm-Leach-Bliley Act. New York: Routledge. Mayer et al. (1999). The Gramm-Leach-Bliley Act: executive summary review and analysis. New York: Sage. Moeller, R. R. (2005). Brinks modern internal auditing. Los Angeles: Routledge. Rezaee, Z. (2001). Financial institutions, valuations, mergers, and acquisitions. New Jersey: Cengage Learning. Schell,J.M. (1999). Private equity funds: business structure and operations. New York: Infobase Publishers. Winston,J. Winston, A. (2009). Complete Guide to Credit and Collection Law. New York: Sage Publishers.

Vermiculture Technology Essay Example | Topics and Well Written Essays - 250 words

Vermiculture Technology - Essay Example However, a collection of warms with different feeding styles is preferred. This may include column feeders, burrowing feeders and surface feeders, which do not pose a competition for nutrients, but in the process compliments each other in the feeding process. The worms work in a similar way as in natural decomposition pits; they disintegrate organic matter into small fragments. In the process, they breathe and promote fermentation of the nutrient content. A vermicompost also contains microbes, which aid in the decomposition process. In the event that the materials are depleted, the worm poop and the content are ready for harvesting. The technology is generally cheap and easy to practice for both large and small-scale farmers. The farmer needs to rear the worms in pits, about 3m deep. Broken bricks and earthwork are placed at the bottom to provide for good drainage, the base materials be then covered with a thin layer of cow dung. The materials to be decomposed are then introduced into the pit and water sprinkled to create a conducive environment for the worms. Finally, the worms are introduced to initiate the process (Graft, 2001). Non-continuous- this type of bin involves placing the bedding materials at the base of the bin the adding materials to be decomposed in layers above each other. The worms will then feed on the materials uniformly up the bin. Its major disadvantage in that the entire content of the bin have to be emptied for harvesting. Continuous vertical bin- A series of trays arranged vertically are used in this process. Materials in the order of bedding-worms-organic matter is placed in the bottom tray and finally sealed with a layer of rich bedding. When the worms are through with the content of the lower tray, they move upwards and the lower tray can be harvested. Continuous horizontal bins- the trays are arranged in a horizontal manner, the materials

Ethics Audit Essay Example | Topics and Well Written Essays - 1750 words

Ethics Audit - Essay Example Hence, they are under intense pressures to ensure their own wellbeing, if not survival. Ends and activities not directly tied to their own survival or well-being, and not protected by other supportive conditions, naturally come under pressures for reduction or elimination. "Ethics is a moving target. Social values shift over time, influenced by a complex web of factors. Employers must keep a close eye on those values and, when possible, proactively address ethical dilemmas emerging in their companies" (Vickers 2005, p. 26). Fo P&G, business ethics is much more than an expression of taste, however strongly felt. Properly understood, business ethics is in fact about moral principles; indeed, it is the application of ethics to, or in, specifically business situations and activities. For P&G, ethics refers to moral codes and the actions enjoined by them as well as to the study of either or both. Indeed, when dealing with received opinion, such common usages will be observed, both with respect to "ethics" and to "business ethics." When strictly used, however, the term "ethics" refers properly to a subsection of philosophy, that which seeks to identify and clarify the presuppositions of human conduct having to do with good and evil (International Business E thics Institutive 2008). In a work on business ethics, the grounds of ethical activity, like the existence of business, must be taken as given. Certain implications of the philosophical nature of ethics are, however, crucial to the question of universality. "At Procter & Gamble, we have maintained strong Corporate Governance polices and practices for many years. These core values set a tone of integrity for the entire company-one that is reinforced consistently at all levels and in all countries" (P & G Home Page 2008). The most important, is that as a purely theoretical discipline, ethics has no necessary connection to any existing system of religious belief, or any specific legal framework, or any particular moral code. As a result, the commonly cited variations of actual practice are simply irrelevant to the question of whether there are universal truths of business ethics--cultural diversity, even cultural relativism, does not and cannot justify ethical relativism (Swanson, 2005 ). Nevertheless, although ethics is essentially theoretical, there is a metaphorical sense in which the techniques and principles of ethics proper can still be helpful in dealing with real life problems--the clarity of thought and awareness of key concepts developed in philosophical study may well inform action. It is in this extended sense that one may properly speak of "applied ethics," or the "application" of ethics to business, or of ethics "enjoining" specific courses of action. Business ethics is simply the application of general moral principles to specifically business situations and activities Husted et al 1996). The Function of Business Ethics P&G customizes its ethical culture to match unique needs and values of the company to global business demands. The function of business ethics is to resolve or at least to clarify the moral issues which typically arise in commerce. Starting from an analysis of the nature and

Atheism Essay Example | Topics and Well Written Essays - 1250 words

Atheism - Essay Example Quoting Julian Baggini, â€Å"Atheism †¦ it is the belief that there is no God or gods† (3). For others, those words are enough to distinguish an atheist from not. However, there are still those people who would dig deeper into the topic as there are broader and more profound understandings of the subject at hand. The above mentioned meaning or understanding of atheism can be referred as a childhood analogy or comprehension. Just by the mere acknowledgement of the word atheism brings out a very negative thought and conception. Nevertheless, there are always 2 sides in a story. This is a truth in all aspects even in the world of atheism. There is always the good and the bad, the positive and the negative, one cannot exist without the other. One needs the other to exist and it goes either way (7-8). Organized religion often set standards as to what one should and should not believe. This is often where the problem or misunderstanding starts. Though there are Sunday Schools and Bible camps where scriptures are explained, it is not enough that when people say that a person should believe it then it is the truth. A person still has a right to question things that concerns them. One can even say that an atheist is more inquisitive towards their faith as they would further divulge into information that conservatives would perceive as taboo since they are questioning the existence of a higher power or divine intervention. In this concept, there is a broader and untold fact which is accompanied in their refusal to believe in God. One can assume that atheists believe in the â€Å"what can be seen† (4-5). Also according to Baggani, â€Å"This brand of physicalism asserts that the only kind of stuff is physical stuff: there are no non-physical souls, spirits, or ideas. This is a version of physicalism that many, probably most, atheists can sign up to† (5). There is a thought or question that arises with this statement. Because there are still thin gs which are intangible yet believed to true, an example of which is a thought or an idea that is still not expressed or enacted by a person. This is where Science enters the picture of spiritual belief. Two worlds are colliding within the vicinity of an atheist. In more than 2,000 years of documented principles, Science and Religion have never agreed in a singular idea. There would always be an argument between these 2 aspects. It is like what is fore mentioned, there are always 2 sides in a story. Throughout the years, there are still debates as to which is true and which is false between these 2 worlds. These debates are still on-going between their scholars even as this paper is being written. The difference between the two is that Science gives a more breathable room for scientists to explain their theories without the fear of being ex-communicated from the society or their church. Here, one can presume that Science has the broader mind between the two. Yet it does not mean tha t Science is better than Religion. This cannot be proven even in a million years. One can debate his whole life and dedicate his whole being trying to prove which is which yet in the end; there will always be questions that would end up in the vast space of blankness. However, this is not always the case. Sometimes a person believes in theories or principles being presented by both worlds yet the idea that something that starts in Science may