A Comparison of Athens and Sparta Research Paper

A Comparison of Athens and Sparta - Research Paper Example It was as of now that Athens rose as the most impressive of the city states. The city rose as the social capital of the whole Greek world and it was the support of contemporary western science and theory. The Athenian realm arrived at its peak during Pericles’s life time. The city was loaded with quality and Athenians themselves trusted it to be the ‘City of God’. Then again, Sparta spoke to an entirely unexpected world. It had its own way of thinking about organization, military, training and marriage. It additionally varied from Athens on thoughts regarding the idea of relationship with other Greek realms. In spite of the fact that Sparta was a solid military state, it was substance to stay in its domain and didn’t enjoy fighting for acquisitions of new regions. Then again, Athens had expansionist strategies. It needed to get hold of an ever increasing number of Greek domains. This expansionist arrangement of Athens, proposed by Pericles, prompted war bet ween the two states which finished with the thrashing of Athens. Athens endured rout on account of Sparta. Despite the fact that Athenians were incredibly famous for their boss maritime units, they capitulated to the Spartan military ability. The explanation behind Spartan triumph can be credited to the childhood and preparing of the Spartan warriors. This requests a top to bottom examination concerning the similitudes and dissimilarities of the two states. The Spartans varied from Athenians from multiple points of view. The primary concerns around which the commonalties or contrasts between the two states can be talked about are Economy, Art, Lifestyle, Women, Military and Sexuality. The monetary or money related strategies of a country or state rely upon the idea of governmental issues common in the nation. Athens and Sparta were comparable on this component in light of the fact that both the state’s governments were chosen by individuals. While the Athenian government spea rheaded the fair framework, Sparta was a military privileged (McNesse, 31). In Athens, support originated from varying backgrounds. In spite of the fact that there were limitations on ladies, men were allowed to examine new thoughts in the get together. Then again, Sparta had substantially more firm political system. Its own philosophies and arrangements made Sparta strategically and monetarily less dynamic. Out of the two, Athens was all the more financially dynamic. It was at the focal point of an incredible exchanging system that managed merchandise from as far the Britain in the west to India in the east, carrying untold riches into the city. This exchange and Athens’s expansionist desire prompted the structure of Athenian maritime realm which extended over the Aegean Sea. Farming was the pillar of Athenian economy. It likewise thrived in view of the benefits brought by mining and metal specialties. As said before, exchange likewise had a significant impact in Athens†™ economy. This is where there lie obvious contrasts between the two domains. In Sparta, financial exercises were conveyed outside the city while there was nothing of the sort with Athens. Sparta additionally did not have a money framework, a framework which was very much evolved in Athens. This implied Sparta not just had less collaboration with the outside world, it additionally lay torpid undoubtedly. Craftsmanship is where the two domains Athens and Sparta varied a ton. During the time of conjunction of Sparta and Athens, Athens delivered the absolute most prominent artists and logicians ever. Socrates, Phidias and Plato were scholars who despite everything speak to the everlasting soul of Greek and craftsmanship and Philosophy. Then again, Sparta was just worried about its military greatness. Albeit early Sparta produces superb earthenware, it was no match to Athenian craftsmanship and science.

Legal rights of tenured teachers in dismissal proceedings Essay

Lawful privileges of tenured instructors in excusal procedures - Essay Example Its correction by Chapter 691 of the Laws of 1994 gives a chance to educators who were blamed for any offense or ineptitude the option to safeguard himself in court and experience fair treatment. Inside fifteen days, the leading body of instruction is dependable in actualizing the different privileges of the instructor to experience fair treatment, for example, the educator's privilege of employing a consultation official who might be answerable for surveying the charges against him and would additionally research his case. Whenever allowed, through the procedure, on the side of the realities and discoveries, the consultation official may give proposals as to the punishments or disciplines regarded fitting for the charges against him. (http://www.nbto.org/Union/tenure.htm, para 10) Then again, for cases that include instructive unfortunate activities or decisions, the instructor is permitted to have a three-part board who might do the examination and survey the charges against him. It is the obligation of the school area assistant or secretary's job to ensure that these arrangements and privileges of the worker is met so as to furnish them with a reasonable battle. (http://www.nbto.org/Union/tenure.htm, para 10) An extraordinary number of issues on residency has included not the only one the educators but rather the school area organizations too. ... Residency is a type of employer stability for instructors who have effectively finished a trial period. Its main role is to shield equipped instructors from self-assertive non-reestablishment of agreement for reasons irrelevant to the instructive procedure - individual convictions, character clashes with overseers or educational committee individuals, and so forth. (http://www.ericdigests.org/pre-925/tenure.htm, para 2) Instructor's residency began in 1917 in New York yet it was uniquely in 1970 when this piece of the Education Law was paid attention to by the school locale and the educators. Besides, the law was reinforced and the procedure were sped up in 1977 as a reaction to the developing strain to the school locale's various out of line and unlawful excusals. There was not satisfactory proof with respect to when the arrangements on instructor's residency had become a government property right to such an extent that it stays to be a worry of the state for which each strategy change. The fundamental push of the Teacher Tenure Act1 is that government funded school representatives under its protection2 might be excused or downgraded distinctly for at least one of fifteen grounds set out in the demonstration and just as indicated by the methodology set out in the demonstration. Frequently, educators confound this arrangement in the Education Law accordingly, it ought to be clarified that instructor residency is just a security against unlawful excusals regardless of whether the person in question is liable of the charges recorded against him/her. (http://www.iog.unc.edu/bars/electronicversions/pdfs/leps20.pdf, para 1) The fair treatment for which residency perceives among the educators perceives that laws and lawful procedures must be reasonable. An individual's fundamental rights to 'life, freedom or property,' ought not be detracted from them without the fair treatment of law.

Internal marketing Essay Example for Free

Inside showcasing Essay Inside showcasing is of much significance to an association. For any association to flourish, it must concentrate on the proficiency of the showcasing plan. The inside promoting plan inside a firm cultivates the company’s representatives and all its staff individuals to being clients of the items that they produce. At the point when workers of an association buy the items that they produce, they pull in outer markets since the general population out there will acknowledge how significant the items are to them, as much with respect to the representatives. Individuals from staff are viewed as the two providers of the merchandise and furthermore the clients of the items. This arrangement helps in reinforcing the firm to worker relationship. At the point when the firm administration relates well with the representatives, they are in a way inspired thus quality administrations will thus be given to the clients. Clients will be held inside the association, in this manner empowering the organization accomplish an upper hand. It will be in a situation to build its business as per the uncontrolled developing interest. Likewise, the organization will expand the procedure of benefit making. Fundamentally, effectiveness in inside promoting considers proficient outside showcasing endeavors (Kotler Armstrong, 2009). A decent inside advertising plan ordinarily has unmistakable highlights. For example, it ought to make a culture that empowers it to outstand over the immense serious markets. It is feasible when laborers are urged to be imaginative and creative, mindful and responsible. Representatives ought to be allowed to misuse their capacities and furthermore to act in limit as responsible pioneers. The arrangement should likewise express value, reasonableness, acknowledgment and inspiration of remarkable entertainers. Representatives ought not be treated by their rank position, race or sexual orientation. This has been a significant mishap to improvement consequently it ought to be maintained a strategic distance from definitely. It ought to likewise oblige space for advancing the employees’ aptitudes and information. By reasonableness, an association and its staff everywhere are urged to practice and grasp it. For instance when somebody close kicks the bucket, backing ought to be given to his family. The association can successfully manage this issue through putting aside crisis reserves (Ahmed Rafiq, 2002). Coca cola as an organization has grasped the utilization of inside advertising plan inside its association, and this has seen it stop and solid regardless of the opposition offered by Pepsi organization which is also a producer of soda pops. The organization has been deliberately overseen and in this way its items have been wide spread, in the United States as well as to the remainder of the world. It has embraced the utilization of the 7ps of showcasing. The 7ps includes Product, Place, Price and Promotion, Physical Environment, People, Process. Item shows what the organization creates and supplies to its huge markets. Instances of such items are sprite, coke and fanta, which mostly rule the company’s markets. Spot shows the real position of the assembling firm. At present, assembling of coca cola items have been spread everywhere throughout the world. Cost is the most significant part of advertising. The organization should direct the costs through the counsel of senior salesmen. It is the stamped value that decides the quantity of clients an association will have. Clients ought to be made mindful of the suggested retail costs of the drinks created. This is typically done as such as to dishearten the go-betweens from misusing the clients. At the point when merchandise are overrated, the associations contenders may exploit this to remove the clients. Coca Cola Company has showed a drive of writing the items suggested costs in the jug tops, therefore forestalling event of bothers. In showcasing, advancement empowers the individuals to know the sort of items the organization produces and furthermore gives them a motivation behind why they should buy them. Advancement exercises are critical on the grounds that it is the deciding element whether the business will stand or fall. Physical condition additionally assumes a significant job in promoting. The encompassing and the manner in which individuals domiciling around where an organization expects to build up its market consents to permit the business specialist complete its exercises decides the business showcasing future. Individuals might be exceptionally antagonistic; thus the business may neglect to set up its business sectors. The procedures really depict the channels an item goes through before being conveyed to the end purchaser. This may again include how the purchaser will deal with the item. The representatives of this organization are offered duty to oversee marks through effective advertising and furthermore offered need to set down attainable business methodologies (Drake, Gulman Roberts, 2005). Overseeing executives of the organization are spread everywhere throughout the world and the organization endows them to set up dependable circulation channels, the focused on purchasers and the advertising apparatuses that helps the firms’ deals. To guarantee that it wins immense benefits, the organization has expanded its business workers and unquestionably this demonstration has empowered it to be at the top position in the yearly positioning of the best brands on the planet. Such deals specialists of the organization do place into thought a decent client relationship. They have a feeling of productivity in reacting to clients needs in this manner greater part of the buyers are held. To acquire its representatives, the coca cola organization does enlistments. For one to qualify as a representative, he/she should finish the tests managed to them by the company’s chiefs. Additionally, they are taken through arrangement of meetings and surveys, and their skills checked against the prerequisites of the organization. While meeting, the directors offers conversation starters identified with chance administration, time the executives, how to take care of issues and furthermore gives that centers around authority abilities. After the representatives are employed by the organization, they are taken care of with satisfactory data about the organization. This incorporates how it completes its everyday exercises, its crucial vision. Furthermore, the associations objectives and goals are plainly expressed to them. This permits the firm administration to cooperate as one with its representatives with focus of understanding the effective result of the company’s activities. Representatives work yield is normally estimated in this organization on yearly premise. They are appraised by how they have grasped the innovation, how they have cultivated a feeling of administration and furthermore by how far they built up a strong relationship with the purchasers. Also, their imaginativeness is perceived and this is checked through breaking down how fruitful they have been in carrying the outcasts into the organization. Their outcomes as far as causing the organization to acknowledge objectives are typically nitty gritty, and the extraordinary entertainers propelled. This inspiration can either take type of expanding their regularly scheduled compensation, elevating them to higher positions or in any event, remembering them by overhearing people's conversations. Workers who are considered as less profitable are taken through a probation preparing. After probation, they are again sent back to the field, and if at this point the organization doesn't perceive any effect in their profitability, they are left with no alternative other than excusing them (Palmer, et al. , 2006). Inward promoting has been of incredible advantages to the coca cola organization. In spite of empowering its laborers perform better, it has additionally permitted them to secure information on being capable and responsible. The inside promoting has likewise improved better comprehension of the association in accordance with the business completed. Representatives have been persuaded to offer merchandise of value to their clients through energy about their extraordinary presentation. This arrangement has again expanded the customer maintenance limit and furthermore self-improvements to its representatives. Non advertisers inside the association has likewise profited since they have figured out how to complete their obligations in way like showcasing. To summarize, the interior promoting plan has connected the coca cola business culture, vision, crucial its specified systems with the employees’ social needs (Varey, 2002). Behind each fruitful association, their must be a chain of issues experienced by it. Contingent upon how the firm grasps and handles their issues, their prosperity is resolved. Not all the workers acknowledge change. Some becomes unbending with regards to grasping the adjustments in innovation. A few representatives have esteemed the utilization of automated frameworks as a method of narrowing work openings. Such representatives can be named as being ignorant from the way that PCs helps much in keeping proficient and viable stock of the company’s endeavors. The organization has likewise been confronted issues dependent on inadequacy of administrators, much accentuation being in the utilization of relational, reasonable and specialized abilities. The wild spread of social disasters, for example, defilement everywhere throughout the world has seen the organization utilize awkward staff who need abilities in the board. To include, the utilized people inside the association have been depicted as not just having a poor comprehension of the ideas of interior promoting yet in addition as disregarding the requests from the ranking staff (Kurtz, 2008). This has been a significant issue towards fruitful foundation of interior promoting plan. Clashes among the workers and furthermore inside various offices have additionally been an issue. Individuals generally battle about the advancement position have made crafted by executing an inside structure troublesome. To the side of the association, a few subordinates overlook the workers and doesn't place into thought their government assistance. Along these lines, workers have responded to battle for their privileges and subsequently this has been an obstructing factor. The soul of collaboration has likewise been significantly undermined since some top individuals from the organ

The Law of Effect in Psychology

The Law of Effect in Psychology Theories Behavioral Psychology Print The Law of Effect in Psychology By Kendra Cherry facebook twitter Kendra Cherry, MS, is an author, educational consultant, and speaker focused on helping students learn about psychology. Learn about our editorial policy Kendra Cherry Updated on September 23, 2019 Chris Winsor / Moment / Getty Images More in Theories Behavioral Psychology Cognitive Psychology Developmental Psychology Personality Psychology Social Psychology Biological Psychology Psychosocial Psychology The law of effect principle developed by Edward Thorndike suggested that responses closely followed by satisfaction will become firmly attached to the situation and, therefore, more likely to reoccur when the situation is repeated. Conversely, if the situation is followed by discomfort, the connections to the situation will become weaker, and the behavior of response is less likely to occur when the situation is repeated.?? Imagine that you arrive early to work one day by accident. Your boss notices and praises your diligence. The praise makes you feel good, so it reinforces the behavior. You start showing up for work a little bit early each day to keep receiving your boss’s commendations. Because a pleasing consequence followed the behavior, the action became more likely to be repeated in the future.?? More Examples If you study and then get a good grade on a test, you will be more likely to study for the next examIf you work hard and then receive a promotion and pay raise, you will be more likely to continue to put in more effort at workIf you run a red light and then get a traffic ticket, you will be less likely to disobey traffic lights in the future Discovery While we often associate the idea that consequences lead to changes in behavior with the process of operant conditioning and B.F. Skinner, this notion has its roots in the early work of psychologist Edward Thorndike.?? In his experiments, Thorndike utilized what is known as puzzle boxes to study how animals learn. The boxes were enclosed but contained a small lever that, when pressed, would allow the animal to escape. Thorndike would place a cat inside the puzzle box and then place a piece of meat outside the box and then observe the animal’s efforts to escape and obtain the food. He recorded how long each animal took to figure out how to free itself from the box. Eventually, the cats would press the lever, and the door would open so that the animal could receive the reward. Even though first pressing the lever occurred simply by accident, the cats became likely to repeat it because they had received an award immediately after performing the action. Thorndike noted that with each trial, the cats became much faster at opening the door. Because pressing the lever had led to a favorable outcome, the cats were much more likely to perform the behavior again in the future.?? Thorndike termed this the “Law of Effect,” which suggested that when satisfaction follows an association, it is more likely to be repeated. If an unfavorable outcome follows an action, then it becomes less likely to be repeated. There are two key aspects of the law of effect:?? Behaviors immediately followed by favorable consequences are more likely to occur again. In our earlier example, being praised by a supervisor for showing up early for work made it more likely that the behavior would be repeated.Behaviors followed by unfavorable consequences are less likely to occur again. If you show up late for work and miss an important meeting, you will probably be less likely to show up late again in the future. Because you view the missed meeting as a negative outcome, the behavior is less likely to be repeated. Influence on Behaviorism Thorndike’s discovery had a major influence on the development of behaviorism.?? B.F. Skinner based his theory of operant conditioning on the law of effect. Skinner even developed his own version of a puzzle box which he referred to as an operant conditioning chamber (also known as a Skinner box). In operant conditioning, behaviors that are reinforced are strengthened, while those that are punished are weakened. The law of effect clearly had a major influence on the development of behaviorism, which went on to become the dominant school of thought in psychology for much of the twentieth century.??? Many behavioral principles remain in use today. In therapeutic settings, psychologists and other mental health professionals often use reinforcement to encourage positive behaviors and discourage undesirable ones. In such cases, the use of favorable outcomes may be used to increase the likelihood of future positive behaviors. Thorndikes research on the laws of learning played an important role in the development of behavioral psychology and continue to exert influence to this day. What Is Reinforcement in Psychology?

Strategic Management - Public Bank Group - Free Essay Example

1.0 Introduction to Strategy Management Strategy management is defined as the organization is analyze, make decisions and take actions in creating and sustaining competitive advantages in the market. In making a new strategy or maintain old strategy to achieve the missions or goals in order to survive at competitive and globalize world, the organization or the manager need to access and collect micro and macro environments information for analyze it. After analyzed the business environments, the organization or the manager will make decisions or establish new planning or new strategy based on the outcome of analysis then take actions to achieve the missions or goals. Business environment is important to the organization in analyze and access for research purpose in the competition rival firms. Aswathappa (2009, p. 6) indicates competition benefits rival firms will build new capability, new customer satisfaction standards and make the leaders in the organization become proactive in planning and achieving the mission or target. At this time, the assignmentà ¢Ã¢â€š ¬Ã¢â€ž ¢s questions will be covered Public Bank Groupà ¢Ã¢â€š ¬Ã¢â€ž ¢s mission, strategy, structure and its competition with compared other two banksà ¢Ã¢â€š ¬Ã¢â€ž ¢ competition. The Public Bank Group is founded by Tan Sri Datoà ¢Ã¢â€š ¬Ã¢â€ž ¢ Sri Dr. Teh Hong Piow at 1996. Over 47 years, now it is become the third largest banking group in Malaysia and listed on the Main Board of the Bursa Malaysia Securities with the market capitalization of RM68.67 billion at the end of 2013. Also, The Public Bank Group is ranked as second among all public listed companies on the Bursa Mala ysia Securities. The businesses of The Public Bank Group is focusing on the retail consumer banking business with leading market shares in financing for residential properties, commercial properties and passenger vehicles in term of selling the unit trust funds. (Annual Report Public Bank, 2013, p. 17) In Section 1 is to analyze the linkage between mission and strategy of the Public Bank Group implemented. In Section 2 is to access the organizational structure of The Public Bank Groupà ¢Ã¢â€š ¬Ã¢â€ž ¢s branch at Jalan Yang Kolsam in how effective of the structure to deliver the structure and service to customers. In Section is to access, analyze and classify the competition arise between Public Bank, Maybank and RHB. In Section 4 is present detailed conclusion and recommendations to the Public Bank Group for improvement on their strategy and planning in order to achieve the corporate mission. 2.0 Mission and Strategy of Public Bank Group Entrepreneur in its website states that mission is a sentence or a short written statement to describe the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s competitive advantage, business goals and philosophies. (2014, pp. 1) A good mission can ensure and help employees to understand the philosophy, goals and objectives of the organization they are worked at and this lead good performance of employees in the present and future. Meanwhile, the strategy that established by the organization will help the employee to enhance their planning in achieving the mission. As stated by D. Flouris and L. Oswald (2006, p. 1), before the strategy is established, it is influenced by outside forces as well as internal values, the companyà ¢Ã¢â€š ¬Ã¢â€ž ¢s culture and also its capabilities. 2.1 Mission of Public Bank Group As stated in Annual Report of The Public Bank Group (2013, p. 5), the mission of Public Bank Group is à ¢Ã¢â€š ¬Ã‹Å"To sustain the position of being the most efficient, profitable and respected premier financial institution in Ma laysiaà ¢Ã¢â€š ¬Ã¢â€ž ¢. 2.2 Strategy used by The Public Bank Group The strategy of The Public Bank Group used is growth strategy which is corporate strategy. In Public Bank Homepage stated in page of Corporate Profile (2014, pp. 10) described that The Public Bank Groupà ¢Ã¢â€š ¬Ã¢â€ž ¢s growth strategy is aim to drive business growth and increase its market share in retail banking by delivered consistent service to meet the needs of its customers with well-established customer service infrastructure. Brinkman et al. (2010, p. 48) defined the growth strategy is the aim to increase the amount of business by expanding the market it serves. To meet customer needs, the Public Bank Group has been used internal development as their way of deliver strategy to their staffs by providing training in order to achieve mission of the Public Bank Group. In fact, the bank has been organized the special trainings to over 90% of customer service representatives at the front office. (Publi c Bank 2007 Annual Report, 2007, p. 11) The non-executive chairman of the Public Bank Group, Tan Sri Datoà ¢Ã¢â€š ¬Ã¢â€ž ¢ Sri Dr. The Hong Piow stated that (cited in Public Bank 2013 Annual Report, 2013, p. 77) the front office staffs are specially trained, the customers are only need to wait the counter responds to them for 2 minutes which the standard set by the Public Bank Group to deliver services. In fact, the Public Bank Group is awarded and certified financial institution under ISO 9001:2008 for the à ¢Ã¢â€š ¬Ã…“Provision of Customer Service in Loan Deliveryà ¢Ã¢â€š ¬Ã‚  and à ¢Ã¢â€š ¬Ã…“Provision of Customer Service at Front Officeà ¢Ã¢â€š ¬Ã‚ . The ISO 9001:2008 which is customer service delivery standards that awarded to the Public Bank Group is demonstrating the ability of the bank itself is serving their customers with consistently and high service quality. Consequently, the Public Bank Group and its entire branches wherever there are located also providin g a good assurance to their customer who expecting high consistently of customer experience while they are entering the branches to get service. Continuous training and staff development programs provided by the bank will keeps the achievement to be uphold in the competitive edge. 2.3 Summary of the linkage between mission of and strategy of the Public Bank Group As a result, the Public Bank Group has been achieved ISO certification for their high quality of customer service which the strategy established for customer wait for 2 minutes standard for the service from the front office staffs where this is efficient and the high customer satisfactions lead them to achieve another award as Most Profitable Company in the Finance Sector 2013 and 2011 (Public Bank 2013 Annual Report, 2013, p. 47) where this is one of the Public Bank Groupà ¢Ã¢â€š ¬Ã¢â€ž ¢s mission as à ¢Ã¢â€š ¬Ã‹Å"to sustain the position of being the most efficient, profitable and respected premier financial instit ution in Malaysiaà ¢Ã¢â€š ¬Ã¢â€ž ¢. 3.0 Organizational structure design of The Public Bank Group Creating an organizational structure is an important part on delivering the strategy or communication with effectively. Hull in Forbes websites state that ità ¢Ã¢â€š ¬Ã¢â€ž ¢s important for entrepreneurs or the businesses to create a defined structure at the early, even if the business is just one man shop. (2013, pp. 3) In fact, organizational structure will helps we all to understand various job descriptions no matter there is only one man shop or many employees in an organization. Also, it helps the decision maker wonà ¢Ã¢â€š ¬Ã¢â€ž ¢t design an organizational structure where the position title or job descriptions clash together. Defined and clearly organizational structure is to ensure all employees can see the picture as a whole and do back their own roles and responsibilities. An effective organizational structure will facilitates intrapreneurship between employees a nd employers. Also, the effective organizational structure also helps elaborate effective strategy for the departments or units to achieve the mission or goals with expected result. (Varbanova, 2013) The design of organizational structure also affecting the line of authority and communication between administration officers and officers. (Sekhar, 2010, p. 72) Organizational structure design consist of six elements which are specialization, departmentalization, chain of command, span of control, degree of centralization and formalization. 3.1 Customer Structure of Public Bank Branch Jalan Yang Kalsom Organizational structure that used by Public Bank branch at Jalan Yang Kalsom, Ipoh, Perak is customer structure chart. According to Brinkman et al. (2010, p. 80), they indicate a customer structure is designed and organized based on the customer. This customer structure also called as market structure, it allows the managers responsive to the needs or requirements of customers and give authority to allow managers make decision in response to customersà ¢Ã¢â€š ¬Ã¢â€ž ¢ changing needs. (Chapter 10 Managing Organizational Structure and Culture, n.d.) Figure 1: Customer structure of Public Bank Branch at Jalan Yang Kalsom (Own Adaptation, 2014) As illustrated on above, branch manager is ranked highest position in the Public Bank Branch Jalan Yang Kalsom. The branch manager will in-charge the final decision for the direction and planning for the particular branch. Next, will be the business manager and assistant branch manager. Business Manager is in-charge on the loan and mortgage unit. In the other hand, Assistant Branch Manager is in-charge on the customer service unit, investment unit, operation unit and credit card unit. For an example, a customer will apply loan for his house so the customer will be served by officer at loan and mortgage unit. This will lead the high satisfaction of customer which stimulated firms to search for more creative w ays to serve customer better. The advantages of customer structure chart are helps the organization to develop a better understanding of the customers and the types of customer that serving and this enable the organization to have better meeting the needs of customers. In order to meet the needs of customer, the employee of Public Bank is focusing on their own department where will bring more effective and efficient of servicer delivery. Also, the customer structure chart enables the organization to respond the questions or queries from customer with faster speed. With the faster respond to the queries from customer will bring high customer satisfaction with high expectation, so that this also meeting the objectives and mission that practiced by The Public Bank Group. This type of structure, customer structure chart is suitable to be used in branches with various customers where they can only focus on their customers with high speed of responding. This also enables employee empowerment to line staff or front office staff to make decision in responding on the changing of customer needs and preference of customers. 3.2 Summary of Customer Structure Chart of Public Bank As presented by Public Bank Group, they are using customer structure chart in their branch at Jalan Yang Kalsom. One of the advantages of customer structure chart can enables managers or front office staffs to respond the changing needs of customers and this let Public Bank Group achieved its corporate philosophy where Public Bank Group are cares their customer by providing courteous and efficient customer service in every aspects of their businesses. By empowering front office staffs to make decision in responding the needs of customer also brings creative and innovative solutions to solve problems or queries. 4.0 Competition arise between Public Bank Group, Maybank and RHB Bank In this section, I will use Michael Porterà ¢Ã¢â€š ¬Ã¢â€ž ¢s Five Forces model to access and anal yze the competition arise between Public Bank, Maybank and RHB Bank with five elements. Brinkman et al. (2010, p. 185) argues the five elements of Michael Porterà ¢Ã¢â€š ¬Ã¢â€ž ¢s Five Forces model are rivalry among existing competitors, threats of new entrants, bargaining power of suppliers, bargaining power of buyers and threat of substitute products or services. The explanation of each element is described as follows: Threats of new entrants: New entrants of an industry will bring new capacity and a desire to gain market share which will puts pressure on the current market to put more efforts in investment to reduce the market share being shared by new entrants and bring competition to the market. Bargaining power of suppliers: The powerful supplier able to capture their own values to the company by charging higher prices on the raw materials and shifting costs to the particular industry or company. Powerful supplier also can squeeze profitability out of industry which is unable to increase its own prices freely. The suppliers for banks are credit market or depositors which save their money in the bank saving accounts. Bargaining power of buyers: Powerful customers are opposite of powerful supplier which able to capture more their own values to the company by forcing down the prices of the products or services and able to demand higher quality or services. Buyers are powerful when they have the negotiating leverage which related to the industry because buyers are the one who sensitive with the prices. The buyers for banks are loaner, creditors and public which borrow money from banks and return money to the banks by installment with interest charged. Threats of substitute products or services: A substitute products or services are performing the same or similar function as industry product but with different means. For example, e-mail is a substitute for express mail. WeChat voice message is a substitute for call service provided by telecommunication company. Rivalry among existing competitors: Advertising campaigns, price discounting, service improvement and launching or promotion of new products is familiar forms in rivalry among existing competitors. Slow growth of industry is precipitating the competition for the markt share and the profitability of a company is depending on intensity of compete and the basis of direction or goals to compete. Table 1: Michael Porterà ¢Ã¢â€š ¬Ã¢â€ž ¢s Five Forces Model for Public Bank, Maybank and RHB Bank (Own Adaptation 2014) Elements/Banks Public Bank Maybank RHB Bank Threats of new entrants Ià ¢Ã¢â€š ¬Ã¢â€ž ¢m assume it is low which government did not set any barrier or policies for any financial institution so any banks are easy to penetrate into the industry. Bargaining power of supplier Low unless there is better service or interest on savings is higher than Public Bank. Low Low Bargaining power of buyers Low Low Low Threats of substitute products or services There are same substitute which same products or services are offered by three banks. Rivalry among existing competitors High with awarded ISO certification of customer satisfaction standard and awarded most profitable bank in Malaysia at 2013. Low Low 4.1 Summary of competition arise between Public Bank, Maybank and RHB Bank As illustrated on Table 1, Public Bank has the core competencies with ISO certification of customer service standard and most profitable bank in Malaysia at 2013. Ià ¢Ã¢â€š ¬Ã¢â€ž ¢m assume the strategy used by Public Bank is better than Maybank and RHB Bank as Public has a lot of awards for its achievement in banking industry by serving customer within their expectation and high customer satisfaction also. 5.0 Conclusion and Recommendations for Public Bank Group Galavan, Murray and Markides argues that business environment in which rapid changes in globalization of markets are creating communities of customers. (2008, p. 131) In fact, it is same as The Public Bank Group where the top management will access all the micro and macro environments to analyze in order to establish a new and good strategy for achieve the mission. In Section 1, the growth strategy used by The Public Bank Group is aim t o meet their customer needs and satisfaction and there is an achievement to the corporate mission which is à ¢Ã¢â€š ¬Ã‹Å"To sustain the position of being the most efficient, profitable and respected premier financial institution in Malaysiaà ¢Ã¢â€š ¬Ã¢â€ž ¢. The award of most profitable bank in Malaysia at 2013 and ISO 9001:2008 which is customer service standard is the outcome after they have offered special training to over 90% front office staff in responding queries from customer within 2-minute. In Section 2, the customer structure chart brings a lot of advantages to the Public Bank Group where it is empowering their staff to solve and directly to respond to the changing requirement of customer needs with creatively and innovatively. By doing so, the structure also able to deliver their strategy which to meet customer needs with courteous and efficient. In Section 3, there is low competition arise between Public Bank, Maybank and RHB Bank where Public Bank is achieved s o many awards by comparing to Maybank and RHB Bank. Lastly, the recommendation for The Public Bank Group is to keep investing on their research and development on their service in order to maintain and sustain the best customer service in achieving the mission.

High Levels Of Stress Among Teens - 1251 Words

According to data collected by the Center of Disease Control and Prevention (CDC), suicide is the leading cause of all deaths (18.4%) following accidental injuries for American adolescents (Heron). To visualize this information, imagine walking through a grave yard for adolescents and knowing every ten steps walked you passed, on average, two people who committed suicide. But the question still stands: why? The answer lies in the fact adolescents are experiencing high levels of stress due to high school and the associated pressures and therefore are demonstrating damaging symptoms as an effect. Many of these experts appeared in a survey conducted by the American Psychological Association. This published survey concluded that â€Å"during the school year, teens say their stress level is higher than levels reported by adults. [†¦] Teens report that their stress [†¦] far exceeds what they believe to be healthy [†¦] and tops adults averages reported stress levels (5.8 for teens versus 5.1 for adults) (â€Å"American†). As one can imagine, the brains of developed adults are designed to handle the stress placed upon them; however, teenager brains are not made to endure nearly the same caliber of strain and certainly not more. Extremely concerning, this information highlights that an unhealthy amount of stress is being placed on top of adolescents today when compared to adults. Confirmed by a four step study published by New York University when researchers say, â€Å"Nearly half [...] of allShow MoreRelatedInformative speech outline Essay1391 Words   |  6 Pagesï » ¿Title: Suicide Among Teenagers Specific purpose: To inform my audience on some of the causes on teen suicides.    I. Introduction A. Attention Material: It has been verified on April 19th, 2013 by the Center for Disease Control that for youths between the ages of 10-24, suicide is the third leading cause for death in the United States. (Center for Disease Control: Teen Suicide Statistics, Chart number 1) B. Tie to the audience: Teenagers taking their own life has always been an idea hardRead MoreThe Death Of A Girl1236 Words   |  5 PagesImagine this. There is a fifteen-year-old girl walking into first block at her high school. She is trying to remember what is due today for her first class and the rest to follow. Today is a different day though; it is the one-year anniversary of her stepbrother committing suicide. Not everyone knows that today is the day, but she doesn’t want to talk about it. She is stressed about the homework she might not have done and her mind is in so many different places. The first bell rings so she takesRead MoreAddressing Distress in Teens Essay1210 Words   |  5 Pages2010, the U.S. Department of Health and Human Services released the Healthy People 2020 yearlong goals and objectives. This is comprised of 42 topic areas that the government believes should be priority in enhancing the health of all within society3. Among the health objectives a re Social Determinants of Health, Mental Health and Mental Disorders, and Health-Related Quality of Life and Well-being3. Although there has been much information and research on certain mental health issues such as depressionRead MoreTeen Suicide Is The Third Leading Cause Death For High School Students1396 Words   |  6 PagesOver the years teen suicide has increased tremendously. According to Michael Jellinek, â€Å"the adolescent may feel they have no choice but to end their intense internal suffering or to solve a hopeless dilemma by ending it all†(Preventing Teen Suicide). According to the Center of Disease Prevention, â€Å"suicide is the third-leading cause of death for high school students after car accidents and homicides†(Bratsis). Everyday teens are faced with internal struggles and challenges that are difficult to copeRead MoreStress in Teens: When is it too much?1059 Words   |  5 Pagesclass, equal her job, and gets launched the volleyball team. Gian t amounts of stress on a young person will lead them down a destructive path. Sadly this problem happens on a daily basis. Some teenagers are excellent at managing their time whereas others simply cannot handle as much on their plate. There are many various causes of stress and even more ways in which it will have an effect on the person. Some causes of stress could include however are not restricted to: expectations from those who matterRead MoreThe Effects Of Depression And The Stress On Adolescents1524 Words   |  7 PagesAbstract Stress on adolescents that is caused by school created pressures is a very controversial topic in today’s society. They are required to have so much of their life figured out and achieve academic excellence or else they will be ruining their adult lives that they have not had much time to even think about. Such crucial responsibilities being given to them can cause the pressure to have both mental and physical effects on the adolescents. A lot more adolescents are feeling this stress than whatRead More Teenage Stress Essay1053 Words   |  5 PagesStress is the way the body reacts. It is an unavoidable consequence of life. Teen stress is a big issue in todays society. Recent studies have shown that teens may develop more stress then adults. Few adults can remember the truth about adolescence. Their minds censor their memories, and have them believe that being a teenager was was one big party, free of cares and responsibilities( ). There arent that many adults around who realize what adolescence was really like. The anguishRead MoreStress Is A Common Experience For All Of Us1194 Words   |  5 PagesStress is a common experience for all of us. We may feel stress when we are very busy, have important deadlines to meet, have college assignment and lack of time to complete these assignments. Our body cannot decide what to do then we feel stress. My friend has gone to college since 2011, and she had finished 45 credits for her nursing degree but she dropped out college this year because of stress. When she told me about dropping college, several questions arose in my mind about student s stressR ead MoreDecreasing Academic Stress in Schools1080 Words   |  5 Pagesmodern day high school. Stress places mental and physical strain on the body and can potentially harm health. Stress is the feeling created by the body when it reacts to certain events that put tension or strain upon one’s physical, mental, or emotional state. Acute stress is short term stress that can last anywhere from three days to four weeks. On the other hand, chronic stress is a more serious problem because it is long term stress and can impact health even more. When under constant stress, alsoRead MoreUnwanted and Unplanned Teen Pregnancy and Sexually Transmitted Illness1544 Words   |  7 Pagesand Unplanned Teen Pregnancy and Sexually Transmitted Illness (STI) Teen Pregnancy The birth rate among teens in the United States has declined 9% from 2009 to 2010, a historic low among all racial and ethnic groups, with the least being born in 2010; and in 2011 the number of babies born to adolescents aged 15-19 years of age was 329,797 (â€Å"Birth Rates for U.S.†, 2012). Although the decline in unwanted and unplanned teen births is on the rise the United States continues to be among the highest of

Examining The Relationship Between Stock Prices And Dividend Payments Finance Essay - Free Essay Example

Sample details Pages: 5 Words: 1380 Downloads: 10 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? This research investigates whether there exists a relationship between share prices and dividend payments of world stock indices during January 1977 to December 2009 time period. Majority of financial books point out that in a well functioning capital market these two variables should be related (Brealey and Meyers 1986); the present value of the share should be equal to the dividend stream discounted by the return earned on securities of a comparable risk.footnote Furthermore stock market studies indicate that share prices increase respond to dividend news; dividend increases tend to be associated with share price increases while dividend cuts are usually associated with share price falls (Petit,1972; Ahrony and Sway, 1980). Don’t waste time! Our writers will create an original "Examining The Relationship Between Stock Prices And Dividend Payments Finance Essay" essay for you Create order In determining whether stock prices and dividends are co integrated, a large amount of empirical research have used co integration techniques . This research paper investigates if a long run relationship exists between share price and dividend of 11 global market indices. Talk about world stock indices Using the above empirical framework, this research will test Ho: No long run relationship between stock prices and dividends H1 : Long run relationship. As per outline estimation method,research wil fail to reject the null if is non ststionary and reject null if it is stationary . In case of rejection of the null hypothesis we can conclude that there exists a long run relationship between hare price and their dividend payments. The use of the cointegration technique has become widely used to test present value models for stock prices. According to this model, stock prices are fundamentally determined by the discounted value of their future dividends, which derive their value from future expected earning (Campbell, Lo Mackinlay, 1997) . LITERATURE REVIEW 3. METHODOLOGY 4. DATA DESCRIPTION AND COUNTRY INFORMATION There are eight countries with their major stock indices included in this sample, of which there are 5 European countries and their major stock index (United Kingdom FTSE100, Belgium BEL 20, Netherlands AEX Index, Spain IBEX 35 and Germany DAX 30), one Asian country and its stock index (Hong Kong Hang Seng Index) and two countries from the Americas, namely United States of America and its 4 stock indices (SP 500, DJIA 30, NASDAQ 100 and SP 100), the other country being Canada with its stock index ( SP/ TSX 60). Other world stock indices according to the Datastream database in August 2010 where considered for this research, but because Datastream did not have complete dividend payments , only 11 world stock indices which had complete stock price information and dividend data were considered for the study. We analyse the monthly data for 2 variables, the stock price index (Pt) and Dividend payments (Dt) taken from DataStream, with each index having a varying time period or time range. This sample of data is biased towards developed countries, since with stock indices, dividend data can be easily acquired to study the long run relationship between stock prices and dividends by analysing the worlds major stock indices, other than just analysing one index or stock. For each stock index, the annual stock price and dividend payment information was obtained from DataStream, The stock price indices and dividends were deflated by the consumer price index (CPI) and this data was then analysed to determine if a long run relationship exists between real stock prices and real stock dividends using the PANEL COINTEGRATION methodology for a panel data set. each index has a varying sample period as shown in table 1 below:- The countries and their respective stock market indices in the sample were selected primarily on the basis of data availability, in terms stock prices and dividend payments Table 1 shows: ÂÂ   DATA INFORMATION ÂÂ   ÂÂ   ÂÂ   ÂÂ   ÂÂ   ÂÂ   ÂÂ   ÂÂ   Continent Country Stock Index Sample Range Period (Years) America USA SP 500 January 1977 December 2007 30 Years ÂÂ   ÂÂ   DJIA 30 March 1978 December 2007 29 Years ÂÂ   ÂÂ   NASDAQ 100 October 1985 -December 2007 22 Years ÂÂ   ÂÂ   SP 100 April 1999 December 2009 10 Years Europe UK FTSE 100 January 1986 December 2007 21 Years Europe BELGIUM BEL 20 May 1991 December 2009 18 Years N.America CANADA SP/TSX60 February 2002 December 2009 7 Years Europe NETHERLANDS AEX INDEX February 1992 December 2007 15 Years Europe SPAIN IBEX 35 December1990 December 2007 17 Years Asia HONG KONG HANGSENG December 1986 December 2007 21 Years Europe GERMANY DAX 30 November 1990 December 2007 17 Years Table .1 provides summary information for the stock price index , the empirical analysis focuses on the stock indices mentioned above. REFERENCES [1] Ahrony,J and I . Sway (1980),Quartely dividend and earnings announcements and stockholders returns : an empirical analysis, Journal of Finance, Vol.35,pp1-12 [1] Brealey,R, . A and S.C.Meyers (1986), Principles of Corporate Finance, McGraw Hill, London. [2] Bong Soo Lee, Co-movements of earnings, dividends and stock prices. [3] Campbell, J. Y, and R. Shiller (1987) Cointegration and tests of present value models, Journal of Political Economy, Vol. 95, pp. 1062 1088. [4] Campbell, J. Y and Shiller (1988) Stock Prices, earnings and expected dividends, Journal of Finance, 43, 661 676. [5] Campbell, J. Y and Shiller (1989) The dividend ratio model and small sample bias: a Monte Carlo study, Economics Letters, Vol.29, pp.325-331. [6] Campbell JY, Lo AW, Mackinlay AC (1997) , The econometrics of financial markets, Princeton University Press , Princeton. [ ] Engle, Robert and Granger, C, W. J., (1987), Cointegration and Error Correction: Representation, Estimation, and Testing. Econometrics, 55, 251 276. [7] Kao, C.(1999) Spurious regression and residual based tests for Cointegration in panel data. Journal of Econometrics, 90, 1-44. [8] Kwiatkowski D, Phillips PCB, Schmidt P, Shin Y (1992), Testing the null hypothesis of stationary against the alternative of a unit root: How sure are we that economic time series have a unit root? Journal of Econometrics 54:159 178. [9] K.S., M.H.Pesaran, and Y. Shin (1997) Testing for unit roots in heterogeneous panels, mimeo, University of Cambridge, December 1997. [10] Levin, A. and C.F. Lin (1992) Unit root tests in Panel data: asymptotic and finite sample properties, mimeo, University of California, San Diego, May 1992. [11] Levin, A. and C.F. Lin (1993) Unit root tests in Panel data: asymptotic and finite sample properties, mimeo, University of California, San Diego, December 1993. [12] Levin, A., Lin C.F. and Chu J. (2002), Unit root in panel data: Asymptotic and finite sample Properties , Journal of Econometrics, 108 (1), 1-24. [13] MacDonald, R. and D.M. Power (1995) Stock prices, dividends and retentions, Journal of Empirical Finance, Vol.2 pp. 135-151. [14] MacDonald, R. and I.W. Marsh (1997) A forward premium puzzle and the power of the panel, mimeo, University of Strathclyde. [15] MacKinnon, J.G (1991) Critical Values for Cointegration tests, In Long -run Economic Relationships, R.F. Engle and C.W.J. Granger (eds.), Oxford University Press: Oxford. [ ] Maddala, G.S. and S. Wu (1999). Comparative Study of Unit root Tests with Panel Data and a N [16] Pascal Mazodier (1979) Review of the Econometrics of Panel Data , Economic Journal 89, 999-1001 [17] Pedroni, P. (1995) Panel Cointegration: asymptotic and finite sample properties of pooled time series tests with an application to the PPP hypothesis , Indiana University Working Paper, Number 95-013, June. [18] Pedroni, P. (1996) Fully modified OLS for heterogeneous cointegrated panels and the case of purchasing power parity , Indiana University Working Paper Number 96-020. [19] Pesaran, M. H. and Smith, R. (1995), estimating long -run relationships from dynamic heterogeneous panels. Journal of Econometrics, 68, 79- 113. [20] Petit, R.R . (1972) Dividend announcements,security performance and capital market efficiency, Journal of Finance, Vol.27 , pp. 993 -1007. [20] Phillips, P.C.B and S.Ouliaris (1986) Testing for Cointegration, Yale University Discussion Paper Number 809. [21] R. Engle and C.W.J. Granger (1991), Long run economic relations: Readings in Cointegration, Oxford University Press. [22] Shiller, R. (1981) Do stock prices move too much to be justified by subsequent changes in dividend? American Economics Review, Vol. 71, pp. 421 436. [23] Sheng, S. L. and Chang, U. C . 2000 Testing the Existence of Speculative Bubbles in Stock Price of Financial Industry . Journal of Industry Economics ,106, 109-143. Fig .2 . This shows the line graph representation of the closing stock prices of the DJIA index. It shows that from 1994 the prices of the DJIA index stocks have been steadily rising, showing a continuous trend in the year 2000. Fig.3 Fig.3 . This shows the histogram representation of the closing stock prices of the DJIA index, it shows the mean 7329.240, kurtosis 1.563437 and the Jarque Bera test 152.5889. Returns of the DJIA INDEX. Fig.4 Fig. 4 shows the line graph, showing stationarity in the returns of the DJIA index .