Technology And Its Effects On Health And Social Security...

Introduction By 2050, the number of Americans sixty-five and older is going to double, to more than eighty million. Moreover, research found that almost ninety percent of Americans, including those older than seventy, want to age in place for at least the next five to ten years of their lives. As the American population ages, and as the digital health field expands, technologies addressing the unique challenges of aging in place will become more of a reality. Great strides already have been made to improve aging. Seniors who want to age in place need to be as independent as possible. Technical innovations for successful aging offer opportunities both for older people and for societies with growing numbers of old and very old people.†¦show more content†¦Unfortunately, the number of unofficial caregivers is also expected to decline. In 2010, researchers estimated that there were seven potential caregivers for every elderly adult over age 80. This ratio will drop to four to one by 20 30 and eventually fall to three to one by 2050, because baby boomers are aging away from being caretakers to becoming the ones who need caretaking. This becomes even more problematic in light of the fact that 68 percent of Americans think they will be able to rely on their children and other family members when it comes to long-term care (Matthews, 2013). If family members are not available, the elderly may have to rely on a visiting nurse or go into an assisted living center, which may only add to the already mounting medical bills that seniors acquire. Medical care for one person over age 65 is between three to five times costlier than care for one person under age 65, the Centers for Disease Control (CDC) reported, and sometimes the costs and the responsibilities fall on the next generation. By 2050, 227 million adults globally are expected to require a caregiver to help them through the aging process (Matthews, 2013). This suggests that older adults will soon overwhelm the number of caregivers available to assist them. To compensate for this, many are looking towards helping older adults stay in their home for as long as possible, even if they experience functional or cognitive impairments. This idea is known as aging inShow MoreRelatedMobile Computing and Social Networking Essay1420 Words   |  6 PagesMobile Computing and Social Networking Compare and contrast monitoring of patient vital signs using mobile computing technology to in-patient visits to the doctor’s office or hospital. ïÆ'Ëœ As most of the patients carry mobile devices, they understand the ability to monitor vital signs using mobile computing in real-time and saves time instead of visiting a doctor’s office or hospital. Patients can understand vital signs, and they can visit the doctor at a person’s discretion or otherwise can takeRead MoreThe Impact Of Technology On The Healthcare Field1541 Words   |  7 Pagesadvancements in technology have positively impacted the nursing field, it has also created huge concerns with patient privacy and sharing of protected health information leading to detrimental effects to patients and their families. Indeed, technology is changing the face of healthcare with positive innovations to reduce medication errors and documentation errors. However, technology at our fingertips has created immense concerns with sharing of protected health information of patients via social media,Read MoreThe Health Information Technology for Economic and Clinical Hea lth Act1378 Words   |  5 PagesThe Health Information Technology for Economic and Clinical Health (HITECH) Act, as defined by the U.S. Department of Health Human Services, is part of the American Recovery and Reinvestment Act of 2009 and was created to reduce health care costs by adoption of electronic medical records. It was officially signed into law on February 17, 2009, and aims to encourage the â€Å"adoption and meaningful use of health information technology.† Of particular interest is how it impacts affects the privacy andRead MoreUse Of Technology And Social Media1564 Words   |  7 Pagesparties, many of us see technology and social media being used. 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With more and more advances in technology with portable devices, smartphones, and Internet portals, sharing patient information, and who has access becomes a main topic of discussion in the healthcare industry. Health Information (HI) is an important part of our society. Using the data for research, disease monitoring, and public safety are just a few examples of how health information is used to advanceRead MoreAnalysis of the Impact of Science on Society1263 Words   |  5 Pagesdiscovere d and man is gradually harnessing each aspect of them to meet his needs. This effect has resulted to consequences that are both positive and negative. The science subject is pretty wide and the provisions of this paper cannot permit discussion in its entirety. Therefore, this paper focuses on analysis of the impact of biological science on society. This essay checks on both the positive and negative effects brought by use biological science in solving problems that face modern man. Impact ofRead MoreAmbient Assisted Living1236 Words   |  5 Pagesacademia and industry, for the potential of its solutions, namely for the health and social care sectors. AAL is defined as an approach where pervasive information technologies support elderly people to live independently, with self-confidence and security, reducing the use of resources. AAL devices and applications can support daily living activities or contribute for the individual participation in society, namely entertainment, social participation or communicate with family, friends, peers and providersRead MoreCanadian Health Care System Essay968 Words   |  4 PagesThe idea of what the Canadian Health Care system should be varies between the countrys three political parties. According to the official website of the New Democratic Party of Canada, the NDP believes that every Canadian citizen should have quality, reliable health care. In fact, the NDP initially created Canadas public health care system. In addition to the current health care system, the NDP is trying to create legislation that would grant free dental and drug coverage for seniors over the

Persuasive Essay On Uniforms - 752 Words

Uniforms, a very controversial subject in many schools between the student body and administrators. As a student who does have to wear uniforms, I’m well too familiar with the topic. Many of my peers complain about it very often when they don’t see all the positive things that come with it. Personally, I prefer uniforms because they come with a much easier lifestyle and not what I would have if I could wear my own clothes. I think all students should learn to appreciate what uniforms do for them. That may seem odd since that’s not typical for a student to prefer them but, they’re less money throughout the school year, time-saving while getting ready for school, prevent outcasting, and cause creativity. Everyone knows that a new school†¦show more content†¦Students being outcast or bullied is one of the main reasons I think uniforms are something many high schools should actually look into. As a high school student, I know what it is like to feel pressured to be the coolest and look the best. With uniforms, everyone wears the same thing so nobody is really outcast on what they wear or how expensive their clothes are. Many students families may not have the money to afford nice and cool clothes and some are but, with having to wear uniforms to school you can never tell so students who may not be able to afford certain things don’t have to feel bad about it. Which is why it should be more heavily used in high school than in elementary like it is today. Yes, I cannot deny that uniforms are very plain and boring but there is an upside to that. Since you do have to wear a uniform you get the chance to get your creative juices flowing. You have to find ways to show your personality through your appearance in other ways such as shoes, accessories, jackets or cardigans, etc. Students get to determine how people see them in other ways which lets them add their own unique twist to their look. In my opinion, that forces you to find yourself and all your likes and dislikes when it comes to you as a person. That may be something minor but the older you get it becomes something you value. Uniforms are not something that you as students should complain about and try to find out all the negative things about them. But,Show MoreRelatedPersuasive Essay On School Uniforms717 Words   |  3 Pages The idea of school uniforms has been a vital point within school districts for a long time now. As a parent with two kids within the school system, it is a popular trend amongst schools as both my children’s schools require for their student to wear uniform. However, more recently, students as well as parents are beginning to disagree with the enforcement with school uniforms as they believe uniforms are possibly taking away the right of self-expression for students. Although this is a valid complaintRead MorePersuasive Essay On School Uniforms723 Words   |  3 Pagesmandatory for students to wear uniforms, the y have evidently been misled. Uniforms kill individuality and creativity, are too expensive for some, and can lower both self-esteem and performance of students in school. Many critics are bringing to light the crisis of dropping individuality and creativity; we cannot afford let it plummet any further. School uniforms destroy diversity and kill courage, on top of preventing individual student expression. In addition, school uniforms provide an almost jail likeRead MoreSchool Uniforms Persuasive Essay1069 Words   |  5 Pagesenforce uniforms, requiring students to wear specific clothing. School uniforms, which was first established in 16th century England, are a topic of much debate in the public school system of the United States. Many people feel that uniforms reduce competition among students and bring a sense of unity in school. People who are against school uniforms think that they prevent students from expressing themselves and inhibits creativity. Many students dislike school uniforms because uniforms can be viewedRead MoreSchool Uniforms Persuasive Essay1001 Words   |  5 Pagesmajority of public schools do not require uniforms, the ones t hat do report it as a large success (School Uniform Statistics 3). In one study conducted by NAESP, 79 percent of principals said that school uniforms positively affected classroom discipline, 67 saw an improvement on students’ concentration, 85 noticed a better perception of the school by the community, and 75 percent said that it reduced peer pressure among students (Daniels 2). Therefore, school uniforms should be a requirement in schoolsRead MorePersuasive Essay On School Uniforms979 Words   |  4 PagesThe age old argument of whether or not uniforms and dress codes should be enforced in schools seems to never conclude. The issue of appropriate clothing in schools is controversial and provoking. Many argue that abolishing a student’s choice in their attire violates their freedom of expression. Students use what they wear to express themselves; their clothing gives them a sense of a unique style and identity. Others argue that permitting students to wear whatever clothing they like can create unnecessaryRead MoreSchool Uniforms Persuasive Essay1127 Words   |  5 Pagesanti-bullying programs already in place, public schools should implement a school uniform in order to reduce divisions among students, which should, in turn, reduce bullying and violence among students. A first step to reduce division and bullying among students is to require students to wear uniforms. Gail Connely, the executive director of the National Association of Elementary Principles, states We know that a school uniform policy can help reduce instances of classroom discipline and bullying, asRead MorePersuasive Essay On School Uniforms1422 Words   |  6 Pagesschool uniforms have become so common this year that in many areas, they are no longer the exception, but the rule (Lewin â€Å"Dress for Success: Public School Uniforms†). Imagine a parent’s comfort in knowing their child was being treated as an equal at school each and every day. No judgment or hassle on picking out an outfit to impress anyone. With the implementation of school uniforms, the most comfort for us, students, is possible. There is a vast amount of controversy on the way school uniforms affectRead MorePersuasive Essay On School Uniforms1671 Words   |  7 Pages Hari Mainali South University School Uniform â€Æ' Abstract Freedom of dress is violated by restricting on school uniform. A school and university have their own dress code which does not require a particular dress. Some researcher and scholar suggest misbehavior in the student are the result of banning uniform. But misbehavior is what they acquired in their life. Banning uniform, student can exercise their right to express themselves freely. Student will be able to focus on education and saveRead MoreSchool Uniforms Persuasive Essay1470 Words   |  6 PagesBenefits of Uniform Adoption in Public Schools Ever wonder what it would look like to have all students wearing the same white polo shirt, black pants, and a district sweater walking in the hallway? Nowadays, public school and many districts are discussing the possibilities of enforcing the uniform policy. In most places, many private schools already require students to have their mandatory uniforms; however, there are only a few public schools adopting this mandatory school-uniform policesRead MoreSchool uniform persuasive essay2016 Words   |  9 Pagesï » ¿ School Uniforms: Agree or not? Uniforms are globally used at schools around the world, especially schools in Asia. In Asia, the policy of wearing uniform enforces strongly during school hours and whenever at schools. The policy is enforced because schools want to teach discipline to their students and prevent unanticipated troubles at school. The policy of school uniforms is not completely implemented in the United States, especially public schools. According to the US Department of Education,

Role of It in Travel and Tourism Industry Free Essays

string(201) " house management and improve general administration functions such as accounting and finance; marketing research and planning; forecasting and yield management; payroll and personnel; and purchasing\." IT in travel ROLE OF IT IN TRAVEL AND TOURISM INDUSTRY GROUP – BK Rajnikant Patel- 111 Dr. Sushant Patel- 112 Rachita Patnaik- 113 Yashasvi Patravali- 114 Navjot Singh- 115 Preview IT has touched every aspect of commerce and turned those industries into gold mines. Travel tourism industry is also one of those which IT has not spared. We will write a custom essay sample on Role of It in Travel and Tourism Industry or any similar topic only for you Order Now And how it has brought about transformation and revolution will be seen in the due course of the presentation. Let me first introduce you to the travel and tourism industry at large, and the focus is particularly on the Indian travel and tourism industry as a subset of the global tourism market. India has been ranked 12th in Asia and 68th in the world as per the Travel and Tourism Competitiveness Report 2011 by the World Economic Forum (WEF). Tourism in  India  is the largest service industry, with a contribution of 6. 23% to the  national GDP and 8. 78% of the total employment in India. The tourism industry in India generated foreign exchange of about US $ 136 billion in 2008 and that is expected to increase to US $ 275. 5 billion by 2018 at a 9. 4% annual growth rate. Maharashtra,  Tamil Nadu, Delhi, Uttar Pradesh  and Rajasthan  are the top 5 states to receive inbound tourists. A new growth sector in Indian tourism is Medical  Tourism. Medical tourism is essentially foreign tourist cum patients coming to India and seeking medical treatment. It is currently growing at around 30% per annum. It generated $ 9 Billion in 2010. The reason behind such a rapid growth in medical tourism is the fact that India offers hi tech medical treatments at a very cheap price. Giving you an example, if a bypass surgery here costs around Rs. 2 lac, exactly the same procedure with the same instruments and materials will cost you 30000 dollars in the U. S. , i. e. Rs. 15 lac. The tourism industry in India has also helped growth in other sectors as diverse as horticulture, handicrafts, agriculture and even construction. Coming to IT in tourism, when information technology is used in travel and tourism industry, it leads to the emergence of a whole new parameter called eTourism. eTourism reflects the digitisation of all processes and value chains in the tourism, travel, hospitality catering industries. eTourism is the leading B2C application, i. e. business to customer application and it comprises of almost 40% of all B2C eCommerce. Gone are the days when you would wait for the customers to come to you. In this era of fierce competition, you have to reach to the customers before someone else does. 60% of all tourists use internet to get information on destinations. So here we realize how essential information and communication technology is in today’s travel and tourism industry. eAirlines Till a few years ago, the basic sources of information in the tourism sector were pamphlets, brochures, directories, guide books, etc. produced and published by different countries. The last few decades witnessed the application of computer and communication technologies in the field of tourism. Two distinct streams of information sources viz, (i) online and (ii) offline came into existence. Core results regarding ICT-related developments in the aviation industry: E-Ticketing: The elimination of traditional paper-based tickets is one of the core elements of the low-cost business model. Yet, e-ticketing is not limited to the so called â€Å"no-frills† airlines. The adoption of e-ticketing is increasingly pursued also by network carriers. The International Air Transport Association (IATA) intends to achieve a 100% penetration of e-ticketing among its members by the end of 2007. Customer self-service: Another measure for cost reduction and the acceleration of passenger flows at airports is to introduce customer self-service check-in solutions. This may be done on the spot by self-service kiosks or in the form of web based check-ins, which may even allow users to check-in from home or their office. Bar-coded boarding passes offer a natural link with e-ticketing and self-service check-in. Most recently, it has become possible not only to print boarding passes at the passenger’s home, but also to place bar codes on the passenger’s cell phone, thus making paper documents obsolete. RFID for luggage handling might replace classical baggage tags in the near future. It might simplify airline luggage management considerably, improve customer service in terms of reductions in mishandled luggage, and provide new security mechanisms. Computer Reservations System (CRS) A computer reservations system (or central reservation system) (CRS) is a computerized system used to store and retrieve information and conduct transactions related to air travel. Originally designed and operated by airlines, CRSes were later extended for the use of travel agencies. Major CRS operations that book and sell tickets for multiple airlines are known as global distribution systems (GDS). Airlines have divested most of their direct holdings to dedicated GDS companies, who make their systems accessible to consumers through Internet gateways. Modern GDSes typically allow users to book hotel rooms and rental cars as well as airline tickets. They also provide access to railway reservations in some markets although these are not always integrated with the main system. Global Distribution Systems (GDS) Major CRS operations that book and sell tickets for multiple airlines are known as global distribution systems (GDS). Modern GDSes typically allow users to book hotel rooms and rental cars as well as airline tickets. GDS distribute more than one CRS to users who are travel agents. GDS require massive investment because they are large computer system that link several airlines and travel principals into complex network of PCs, telecommunications and large mainframe system. Some leading GDS are Amadeus, Sabre, Galileo and WorldSpan are travel agents. eHospitality Hotels use ICTs in order to improve their operations, manage their inventory and maximise their profitability. Their systems facilitate both in-house management and distribution through electronic media. ‘Property management systems (PMSs)’ coordinate front office, sales, planning and operational functions by administrating reservations and managing the hotel inventory. Moreover, PMSs integrate the â€Å"back† and â€Å"front† of the house management and improve general administration functions such as accounting and finance; marketing research and planning; forecasting and yield management; payroll and personnel; and purchasing. You read "Role of It in Travel and Tourism Industry" in category "Papers" Understandably, hotel chains gain more benefits from PMSs, as they can introduce a unified system for planning, budgeting and controlling and coordinating their properties centrally. Hotels also utilise ICTs and the Internet extensively for their distribution and marketing functions. Global presence is essential in order to enable both individual customers and the travel trade to access accurate information on availability and to provide easy, efficient, inexpensive and reliable ways of making and confirming reservations. Although Central Reservation Offices (CROs) introduced central reservations in the 1970s, it was not until the expansion of airline CRSs and the recent ICT developments that forced hotels to develop hotel CRSs in order to expand their distribution, improve efficiency, facilitate control, empower yield management, reduce labour costs and enable rapid response time to both customers and management requests. Following the development of hotel CRSs by most chains, the issue of interconnectivity with other CRSs and the Internet emerged. As a result, ‘switch companies,’ such as THISCO and WIZCOM, emerged to provide an interface between the various systems and enable a certain degree of transparency. This reduces both set-up and reservation costs, whilst facilitates reservations through several distribution channels. eTour Operators Leisure travellers often purchase â€Å"packages,† consisting of charter flights and accommodation, arranged by tour operators. Tour operators tend to pre-book these products and distribute them through brochures displayed in travel agencies. Hence, until recently in northern European countries, where tour operators dominate the leisure market, airline and hotel CRSs were rarely utilised for leisure travel. In the early 1980s, tour operators realised the benefits of ICTs in organising, promoting, distributing and coordinating their packages. Thomson’s Open-line Programme (TOP) was the first real-time computer-based central reservation office in 1976. It introduced direct communication with travel agencies in 1982, and announced that reservations for Thomson Holidays would only be accepted through TOP in 1986. This move was the critical point for altering the communication rocesses between tour operators and travel agencies. Gradually, all major tour operators developed or acquired databases and established electronic links with travel agencies, aiming to reduce their information handling costs and increase the speed of information transfer and retrieval. This improved their productivity and capacity management whil st enhancing their services to agencies and consumers. Tour operators also utilised their CRSs for market intelligence, in order to adjust their supply to demand fluctuations, as well as to monitor the booking progress and productivity of travel agencies. Tour operators have been reluctant to focus on ICTs through their strategic planning. Few realize the major transformation of the marketplace, while the majority regards ICTs exclusively as a facilitator of their current operations, and as a tool to reduce their costs. However, several tour operators in Germany, Scandinavia and the UK have moved towards electronic brochures and developed their online strategies. Successful operators report that up to 25% of their packages are booked directly by consumers online. This enables them to concentrate on niche markets. eTravel Agencies ICTs are irreplaceable tools for travel agencies as they provide information and reservation facilities and support the intermediation between consumers and principals. Travel agencies operate various reservation systems, which mainly enable them to check availability and make reservations for tourism products. Until recently GDSs have been critical for business travel agencies to access information and make reservations on scheduled airlines, hotel chains, car rentals and a variety of ancillary services. However, until recently travel agencies have been reluctant to take full advantage of the ICTs, mainly due to: a limited strategic scope; †¢ deficient ICTs expertise and understanding; †¢ low profit margins which prevents investments; and †¢ focus on human interaction with consumers. There are effectively 5 major groups- 1. Amadus IT group- vacation. com, opodo, travel tainmemt 2. Expedia group- expedia. com, hotels. com, anyway. com 3. Orbitz group- orbitz, cheaptick ets, hotel club 4. Priceline group- priceline. com, booking. com, active hotels 5. Sabre group- travelocity. com, world choice travel CASE STUDY 1: ICT-DEPLOYMENT AT THE LOW-COST CARRIER RYANAIR, IRELAND ABSTRACT The innovative use of information technology for online booking, e-ticketing and internal communications coupled with relentless improvements in cost containment, operating efficiencies, route system expansion and scheduling enables Ryanair to achieve increased passenger traffic and report the best customer service performance in its peer group class. CASE STUDY FACT SHEET Full name of the company: Ryanair Location (HQ/main branches): Dublin, Ireland, with operations in most of Europe Sector (main business activity): Low cost air travel Year of foundation: 1985 Number of employees: about 2,700 Turnover in last financial year: â‚ ¬1. 3 billion Primary customers: Business and Leisure Travelers Most significant geographic market: Europe Focus of case study: e-Ticketing Key words:e-Ticketing, online booking, web check-in, low cost airline OBJECTIVES Ryanair has achieved annual increases in passenger traffic each year since 1995. Projections are for 35 million passengers in 2006, increasing to an estimated 42 million in 2007. Ryanair’s objective is to double passenger volumes and revenue by 2012. It currently (July 2006) operates a fleet of 107 Boeing 737-800’s and will buy 142 more of these aircraft over the next 6 years. This study outlines the currently evolving e-business capabilities in place to address these growth areas and achieve the sought for doubling targets. ONLINE BOOKING Online booking via the internet commenced in earnest after the launch of the www. Ryanair. com website in 2000. Over 98% of the 27. 5 million passenger seats in 2005 were sold via the internet. This percentage figure is consistent year on year, and is expected to continue at this high level. The online booking system gives Ryanair the capability to introduce innovative practices to ensure that the individual customer has greater control over their fare costs. E-TICKETING CHECK’N’GO Officially launched in 2006, Ryanair’s e-Ticketing Check’N’Go service enables passengers to check-in online within three days prior to the proposed flight and up to 4 hours before take-off. Using a pre-printed e-boarding card from their home or office computers, passengers can avoid the airport check-in desk and go directly to the security gates with a maximum of one piece of hand baggage. Encouraging passengers to travel with less checked-in luggage also means faster queues for those who check-in at the airport desk. INTERNAL COMMUNICATIONS As Ryanair expanded across Europe, in addition to their well known customer facing web pages, Ryanair has implemented a web-based internal communications system used by flight crews, maintenance staff and ground staff. For instance, a record is kept of the various components in each aircraft and a tickler schedule for their maintenance and/or replacement. The intranet system has also saved on tangible costs, including paper and printing costs. DYNAMIC PACKAGING AND OTHER ANCILLARY REVENUE SOURCES Ryanair drives more sales and increased revenue via the dynamic packaging of flights with discounted hotel rooms and bottom of the range car rentals. In addition after selecting their flights, all travelers are strongly encouraged via the online payment process to take out travel insurance. Another option provided via Ryanair’s homepage at present is to click through to another supplier’s web site such as activitybreaks. com to buy their products. CONCLUSIONS AND LESSONS LEARNED The adoption of e-ticketing and internal e-business systems has enabled this low cost carrier to keep operational running costs well in-check. For the financial year ended March 31, 2005 their share accounted for 16% of total revenues, compared to 15% for the previous year. Ryanair is consistently the European leader in LCC. In addition, due to the minimal in-house administration costs, Ryanair’s low-cost-flights business marketing model includes frequent â€Å"give-away† flights as well: 23% of its tickets were given away in 2005, and half of all flights are slated to be â€Å"free† within the next 4 years. CASE STUDY 2: E-TICKETING AT SN BRUSSELS AIRLINES, BELGIUM This case study highlights the benefits of e-ticketing. After IATA was commitment to discontinue the distribution and processing of paper tickets by December 2007. SN Brussels decided to focus on e-ticketing in order to cut operating costs and generate extra convenience to passengers. Apart from lower cost and increased operation efficiency, e- ticketing allowed the airline to strengthen its market position by a more intensive use of alliances and reduced dependency on intermediaries. BACKGROUND †¢SN Brussels Airlines is a full-service Belgian airline company founded in 2002 by a group of Belgian investors who acquired some assets of the ankrupt Sabena airline. †¢ SN Brussels Airlines is the only full service airline that operates from Brussels and is the market leader at Brussels Airport. †¢It operates around 285 flights per day to various destinations in USA, Africa Europe and 3. 5 million passengers carried per year. †¢It has around 2000 employees in Belgium abroad. OBJECTIVES †¢SN Brussels Airlines has devel oped an interesting business concept of offering fully serviced flights, as offered traditionally by the established airlines, with the lowest possible fare to compete with the low cost carriers. The airline aims to attract both the demanding business travelers with tight schedules but expecting value for money and economy travelers who are sensitive to prices †¢This lead to high airline occupancy and the airline registered profit for 3 years despite unfavorable conditions. ICT INVESTMENTS †¢Expands its ICT use due to customer expectations which gives travelers more convenience and control from the booking stage to the in-flight service. It invested in passenger technologies like e-ticketing, online check in services to reduce the cost. ICT developments like e-ticketing and own website/booking engine enable the airline to strengthen its brand awareness, get direct access to its customers and, consequently, reduce the dependency on Central Reservation Systems (CRS) and Glob al Distribution Systems (GDS). E-BUSINESS SERVICES †¢SN Brussels’ internet site (www. flySN. com) is a major part of the company’s e-ticketing infrastructure it is user-friendly and allows for an easy search and compilation of travel offers. †¢It also provides self check-in possibilities, hotel bookings, insurance and rent-a-car services online. E-tickets are also available through call centre on all routes in the network and through GDS used by travel agents. BENEFITS †¢Online booking, proved to be an efficient channel for the distribution of e-tickets. In May 2002 only 38% tickets were sold online whereas in September 2006, 63% of own sales were conducted via its own booking engine. †¢The e-ticket uses a database to track the sale and use of tickets. All subsequent ticket transactions, including refunds, exchanges, check-in, void and settlement, involve this holding database this reduces chances of fraud and eliminates the problem of lost ticket. It also reduced the cost of documentations. SN Brussels Airlines’ e-ticketing solution allows for seamless link up with external partners by forming alliances and developing the so-called â€Å"interlining† system that allows passengers to have one ticket for a complete travel itinerary with different travel segments from several airlines. Passengers have then only one set of tickets for a multi-operator trip and benefit from having their luggage checked right through to their destination LESSON LEARNED This case study illustrated the use of e-ticketing at SN Brussels Airlines. The e-ticketing system did not only enable the airline to reduce operation costs and increase efficiency, but also helped to achieve strategic advantages which have further strengthened its market position. In particular, the applied e-ticketing technology facilitates the creation of alliances with other airlines. This, in turn, allows for a more efficient utilization of transportation capacities and access to a larger number of customers. Furthermore, e- ticketing combined with the development of direct online sales channels reduces the dependency on intermediaries and decreases the payments to CRS/GDS. FUTURE OF E-TOURISM †¢The Internet and mobile communication devices are three most significant ePlatforms that will help change the future of tourism. †¢The Internet will allow more people to access high quality information quickly and with minimum inconvenience. It also gave the possibility to purchase travel products on-line. In addition, it generated great service expectations, as consumers anticipate to be served on a 24hours/365days basis and at their own convenience. †¢Not only does the internet help the traveler but also the tourism suppliers like online travel agents, airlines etc. The trend towards the use of mobile communication devices is mostly determined by the commodification of mobile phones in the past few years, coupled with an increasing need to be able to obtain information while ‘on the move’. For example, business travelers can receive information on arrivals and departures as well as check-in through their mobile phone for a number of airlines. †¢On-line Internet provision is not sufficiently developed for those areas conventional telephone can also be used, a traveler may call a call center to confirm their bookings or ask queries. Importance of GDS and CRS in Travel Tourism Industry: Computer reservations systems (CRS) have become critical instruments in the marketing and distribution of travel and tourism products and services. New systems have recently been developed in Western Europe, while the Asian and Pacific regions are in the process of establishing their own systems. A central reservation system represents a computerized system used for both storing and distribution of information. We could be talking about a hotel, a hotel chain, a resort or any other type of lodging facilities. The CRS can also be used for checking up different details about flights or seat availability. People may tend to confuse CRS with GDS (Global Distribution System) because of their similar functionality. However, there is one important difference between these two applications. Central reservation systems are web applications exclusive for each company or hotel. On the other hand, a global distribution system is used by various travel agents for booking reasons, as they cannot access CRS. CRS contains important information such as hotel accommodations, activity bookings, flight schedules or even holiday packages. There is almost no need for a travel agent as you could simply arrange your reservations over the Internet. Most hotels and travel agencies have their own websites for presenting their rates and offers. Websites can also be used together with various CRM software in order to strengthen the existent client relationships. Reservations are processed within a centralized location that is also responsible with availability management. Rates retrieval and reservations are made as efficiently as possible. Hotels will benefit from better yield management and will also reduce other costs as web bookings will not be done anymore through third parties. How to cite Role of It in Travel and Tourism Industry, Papers

Accreditation free essay sample

The federal governments presence is increasing in areas that traditionally have been the province of the faculty and institutions. I agree with the article, because when we think of accreditation we mostly think of a process that takes place on our campuses. This thought may not agree with a lot of other people. The government seeking to ensure that federal funds for student grants and loans were spent, they turned to private sector accrediting organizations for reliable judgments about the quality of institutions.The primary way government oversees accreditation is through a process called identification. George Bush administrations first foray into education was the reauthorizing of the Elementary and Secondary Education Act. The effort resulted in the 2002 No child left behind legislation with a powerful important on K-12 liability and a federally organized regimen of national testing focused on documenting student success. Faculty members have a long standing love hate relationship with accreditation those ho value accreditation find it useful. Accreditation is very important. it is necessary as it is a pointer to the quality of service an institution or organization is providing. Moreover, in situations where there are several providers of the same, or similar service, accreditation helps the consumer to be better positioned to make informed choices on which to choose from. Accreditation also gives room for continuous evaluation of the quality of products and services. Accreditation also ensures that the concerned corporations strive to continually improve on their services as they are subjected to periodic evaluation. This translates to a better quality of service to the consumers. The Joint Commission is a non-profit organization not affiliated to the government. it operates by scheduled surveys of hospitals. The hospitals are notified beforehand before the visits. The commission thereafter provides information as to the accreditation status of the hospital as well as the services that needs to be improved upon. The Healthcare Quality Association on Accreditation (HQAA) is also not affiliated to the government. It is a good substitute to the Joint commission as it also accredits health care facilities by surveying them. The accreditation option is tailored towards the Durable Medical Equipment. Community Health Accreditation Program (CHAP) is also a non-profit organization. it can also be seen as an alternative to the Joint commission. It accesses health care organizations that offer community based services. It is the first body created to perform this function. ACHC is another organization involved in the process or accrediting health care facilities. Its primary instrument is survey. There are a number of other agencies that are involved in accrediting health care. National Committee for quality Assurance: NCQA is also involved in the accreditation of health care facilities. It annually releases   a report on all accredited health care providers and facilities. Avmed is one of the health care providers in the country. It recently received an excellent rating from NCQAs annual ratings. This corresponds to the highest accreditation status that can ever be accorded a health institution for service and clinical quality. (Reuters, 2008) REFERENCES AvMed Receives Highest Quality Rating(2008) http://www.reuters.com/article/pressRelease/idUS133795+03-Jan-2008+PRN20080103 NCQA (2008) NAtional COmmittee for quality Assurance:Homepage http://www.ncqa.org/ The Joint COmmission (2008) About us. http://www.jointcommission.org/AboutUs/

About Zaha Hadid, First Woman Architect to Win a...

About Zaha Hadid, First Woman Architect to Win a... Born in Baghdad, Iraq in 1950, Zaha Hadid was the first woman to win a Pritzker Architecture Prize AND the first woman to win a Royal Gold Medal in her own right. Her work experiments with new spatial concepts and encompasses all fields of design, ranging from urban spaces to products and furniture. At the age of 65, young for any architect, she died suddenly of a heart attack. Background: Born: October 31, 1950 in Baghdad, Iraq Died: March 31, 2016 in Miami Beach, Florida Education: 1977: Diploma Prize, Architectural Association (AA) School of Architecture in LondonStudied mathematics at the American University of Beirut in Lebanon prior to moving to London in 1972 Selected Projects: From parking garages and ski-jumps to vast urban landscapes, Zaha Hadids works have been called bold, unconventional, and theatrical. Zaha Hadid studied and worked under Rem Koolhaas, and like Koolhaas, she often brings a deconstructivist approach to her designs. Since 1988, Patrik Schumacher had been Hadids closest design partner. Schumacher is said to have coined the tern parametricism to describe the curvaceous, computer-aided designs of Zaha Hadid Architects. Since Hadids death, Schumacher is leading the company to fully embrace parametric design in the 21st Century. 1993: A fire station for the Vitra Company in Weil am Rhein, Germany2000: Inaugural Serpentine Gallery Pavilion, London, UK2001: Terminus Hoenheim-Nord, a park and ride and tramway on the outskirts of Strasbourg, France2002: Bergisel Ski Jump, Austria2003: The Richard and Lois Rosenthal Center for Contemporary Art in Cincinnati, Ohio2005: Phà ¦no Science Center in Wolfsburg, Germany2008: Pedestrian Bridge and Exposition Pavilions, Zaragoza, Spain2009: MAXXI: National Museum of 21st Century Arts, Rome, Italy2010: Sheikh Zayed Bridge, Abu Dhabi, UAE2010: Guangzhou Opera House, China2011: Riverside Museum of Transport, Glasgow, Scotland2011: Aquatics Centre, London, United Kingdom; and post-Olympic reconfiguration in 20142011: CMA CGM Corporate Headquarters, Marseille, France2012: Pierres Vives, Montpellier, France2012: Heydar Aliyev Center, Baku, Azerbaijan2012: Eli and Edythe Broad Art Museum at Michigan State University in East Lansing2012: Galaxy SOHO, Beijing, China2013: Hadid Res idences for CityLife, Milan, Italy 2014: Messner Mountain Museum at Plan de Corones, South Tyrol, Italy2017: Expected completion of Hadid Tower, office skyscraper for CityLife, Milan, Italy2017: Expected completion of One Thousand Museum Condos, Miami, Florida2022: (proposed) al-Wakrah Stadium, Qatar Other Works: Zaha Hadid is also known for her exhibition designs, stage sets, furniture, paintings, drawings, and shoe designs. Partnerships: Zaha Hadid worked at the Office for Metropolitan Architecture (OMA) with her former teachers, Rem Koolhaas and Elia ZenghelisIn 1979, Zaha Hadid opened her own practice, Zaha Hadid Architects. Patrik Schumacher joined her in 1988. Working with senior office partner, Patrik Schumacher, Hadids interest lies in the rigorous interface between architecture, landscape, and geology as her practice integrates natural topography and human-made systems, leading to experimentation with cutting-edge technologies. Such a process often results in unexpected and dynamic architectural forms.- Resnicow Schroeder Major Awards and Honors: 1982: Gold Medal Architectural Design, British Architecture for 59 Eaton Place, London2000: Honourable Member of the American Academy of Arts and Letters2002: Commander of the British Empire2004: Pritzker Architecture Prize2010, 2011: Stirling Prize, Royal Institute of British Architects (RIBA)2012: Order of the British Empire, Dames Commander of the Order of the British Empire (DBE) for services to Architecture2016: Royal Gold Medal, RIBA Learn More: Zaha Hadid was the first woman to win a Pritzker Architecture Prize. Learn more from Citation from the 2004 Pritzker Prize Jury.Zaha Hadid: Form in Motion by Kathryn B. Hiesinger (Philadelphia Museum of Art), Yale University Press, 2011 (catalog of commercial designs, made between 1995 and 2011)Zaha Hadid: Minimum Series by Margherita Guccione, 2010Zaha Hadid and Suprematism, Exhibition Catalog, 2012Zaha Hadid: Complete Works Source: Resnicow Schroeder biography, 2012 press release at resnicowschroeder.com/rsa/upload/PM/645_Filename_BIO%20-%20Zaha%20Hadid%20Oct%202012.pdf [accessed November 16, 2012]

Intermediate Level English Proverbs for ESL Class

Intermediate Level English Proverbs for ESL Class Learning proverbs - or sayings - are a great way to get insight and improve your English. Unfortunately, some proverbs are easy to understand and others more difficult. This article provides twenty intermediate level proverbs that are right for your level. Each proverb has a definition for you to learn the proverb. Once you have learned these twenty proverbs, match the situations to the appropriate proverb at the end of the article. Teachers can use these activities with proverbs in the classroom to help your learners. After a storm comes a calm.  When life is difficult, remember that things get better and calm down sooner or later. Beauty is only skin-deep.  Physical beauty is not the only important thing. Blood is thicker than water.  People who are in your family are more important than people you meet in life. Never send a boy to do a mans job.  Its important to give important tasks to people with experience. Clothes make the man.  The clothing you wear change how you appear to yourself and others. Whats done cannot be undone.  Dont worry about a mistake, you cant change it. Half the truth is often a whole lie.  Providing only certain details, and hiding others indicate that something is false. Great minds think alike.  Used with friends to say that we are both smart. One hand washes the other.  If I do something for you, you will do something for me. Every Jack has his Jill.  Everyone can find the right person in life. Love makes the word go round.  The most important th ing in life is love. Never is a long time.  Similar to never say never.  Dont so no to things in life. Things may change. Money talks.  Money can be used to convince people that something is right or needs to be done. Old habits die hard.  Things that you do often are difficult to stop doing. Practice what you preach.  You should act like you say others should act. One step at a time.  Go slowly, be careful. Truth is stranger than fiction.  Life is very surprising. Variety is the spice of life.  Its important to do many different types of things in life to make it interesting. Practice makes perfect.  If you want to be good at something, you need to do it often. When in Rome do as the Romans do.  Its important to follow the local customs when in a different location than your home. Matching Proverbs Exercise Match the proverbs below with the appropriate situations for the proverb. Proverbs After a storm comes a calm.Beauty is only skin-deep.Blood is thicker than water.Never send a boy to do a mans job.Clothes make the man.Whats done cannot be undone.Half the truth is often a whole lie.Great minds think alike.One hand washes the other.Every Jack has his Jill.Love makes the word go round.Never is a long time.Money talks.Old habits die hard.Practice what you preach.One step at a time.Truth is stranger than fiction.Variety is the spice of life.Practice makes perfect.When in Rome do as the Romans do. Situations I know things are difficult now, but soon things will get better and easier.Dont worry too much about your looks, youve got a great personality.Remember hes your brother. That relationship will always remain.We need to choose someone with more experience for this contract.Its amazing how I feel when I put on a suit.Stop worrying about the past and your choices.Even though it seemed like a good idea, the fact that he left out some details should have been a clue to the problems.You and I are thinking the same thing!If Tom helps Peter a little, Peter will help Tom at some time in the future.You will find a partner some day. Its going to happen!The best way to success is to treat people with respect.You might say you dont want to do that job today, but tomorrow might be a different story.I know he shouldnt have won the election, but he had a lot of rich donors.Ive tried to quit smoking many times. I just cant do it!If you say that everyone needs to arrive on time, make sure that you als o arrive on time. Things take a long time to accomplish. Take your time and do each thing well.Sometimes I read the news and am very surprised and amused by what people do.Make sure to try all sorts of things in your life. Otherwise, youll get bored.It took years to become a good piano player.Watch how the people act and do the same. That way youll fit in no matter where you are.

Material Assignment Example | Topics and Well Written Essays - 3500 words

Material - Assignment Example It is being increasingly realized that research and development is critical to components such as the crankshaft due to the complexity of the system. Rapid advancements in technology and the inclusion of computer systems have led to an increase in the life and strength of crankshafts. However, the demands placed on the crankshaft have also increase with the development of high speed engines that produce more power and place new challenges to the design. Apart from some basic manufacturing precautions, new standards for the manufacture of crankshafts have been found out such as the ratios between its various components. There have also been advancements in the choice of materials for the manufacture of the crankshafts such as the use of aluminium and magnesium. However, they are largely application dependant and hence it is extremely important to consider this before the design and manufacture of the crankshaft. There is no perfect crankshaft; rather emphasis must be placed on develop ing an optimal crankshaft for the required application. The use of computer technology will further determine the course of the traditional crankshaft. Another important factor is the development of alternate systems of power for the automobile. As hard as it is to predict the future of the humble crankshaft, current efforts are being made towards the development of stronger and more efficient crankshafts. Though the modern automobile in the form that is currently seen took a number of decades to develop, the use of crankshafts in powered automobiles is as old as the first steam engine propelled vehicle developed by Joseph Cugnot in 1769 (Derry and Williams, 1993). Crankshafts ever since have been satisfying the need to convert the-to and fro motion of the engine, be it steam powered, diesel powered or any other type of engine, to circular motion of the wheels. However, recent factors mainly environmental, and political and

A study of how to synergize the works of internal auditors and Research Proposal

A study of how to synergize the works of internal auditors and external auditors to listed companies - Research Proposal Example Auditing has been designate as an important part of the disclosure process. The proposed research will identify the functions of internal and external audits, and determine how these functions can be synergized to ensure fairer and true audit reporting. The proposed research study intends to meet the following objectives: determine the significance of internal and external audits; determine the relationship between internal and external audit functions; and develop strategies to better audit functions in listed companies. Investment decisions are made based on financial information available at the time the decision is made. If theinvestor’s intentions are to be matched then the financial information provided must be fair and true. The concept of fairness involves impartial accounting of financial efforts. One such method of ensuring that the financial information is fair and true involves audit(Alzurqan&Al_Sufy 2011, p. 56). Audit is afinancial control toolapplied incorporate governance to acts as a safety measure against financial fraud and/or negligenceby company managers. It certifies that the stated financial information candidlyrepresentsreality, and that expenses have been sustained with regard to consistency and correctness. The principal function of audit is to:authenticatefinancial informationcorrectness and comprehensiveness;ensurefinancial information is tabulated correctly; and ensure that all expenses are approved and assured. Audit confirms that financial guidelines and instructionssatisfylegal provisions (Yuniarti 2011, pp. 84-85). Auditors are responsible for financial reporting, observance of code of ethics, risk management and compliance with pertinent regulations. The internal and external auditors work independently but on duplicated functions with the internal audit team responsible for preparing financial statements while the external audit team is

Immigration Today Essay Example | Topics and Well Written Essays - 750 words

Immigration Today - Essay Example It is best to understand first the three major theories of immigrant and ethnic-group integration. The theories are the classic and new assimilation models, the racial/ethnic disadvantage model, and the segmented assimilation model. West Indies, South Asia, Koreans and Cubans considered as the Black Americans because of their color. They have been a victim of racial discrimination and racism. The classic assimilation theory sees immigrant/ethnic and majority groups following a "straight-line" convergence, becoming more similar over time in norms, values, behaviors, and characteristics. This theory expects those immigrants residing the longest in the host society, as well as the members of later generations, to show greater similarities with the majority group than immigrants who have spent less time in the host society. However, old West Indies remains with their culture and beliefs because of the discrimination and racism they experience from white Americans. The second generation of West Indies were able to adopt their belief and values in education. In employment most of them were engaged in self-employment, to avoid discrimination and racism. South Indians, Koreans and Cubans also believe in self employment because of the same reasons of discrimination and racism. ... West Indies, South Asians, Koreans and Cubans live on a community where most of the same origins stay. They usually live together to ensure that they will have a mutual support in an alien land. Immigrants such as West Indies, South Asians, Koreans and Cubans, to the United States tended to maintain a strong national, cultural, and ethnic identity to their homelands. Barriers usually blocked their assimilation. Because immigrants compare socioeconomic opportunities in the host country to those in their countries of origin, they may not perceive these barriers. However, by the second or third generations, they may realize that the goal of full assimilation may be more difficult and take longer than originally presumed. Segmented assimilation is a combination of the straight line assimilation and the racial ethnic disadvantage model. In this model others have noted that some members of immigrant groups become cut off from economic mobility, others find multiple pathways to assimilation depending on their national origins, socioeconomic status, contexts of reception in the United States, and family resources, both social and financial. They theorize that structural barriers, such as poor urban schools, cut off access to employment and other opportunities - obstacles that often are particularly severe in the case of the most disadvantaged members of immigrant groups. Such impediments can lead to stagnant or downward mobility, even as the children of other immigrants follow divergent paths toward classic straight-line assimilation. The 1965 immigration and nationally act has increased the numbers of Asians and other nationality to migrate in US. The revision of this act has helped the immigrants to lessen the

International Business From Islamic Perspective

International Business From Islamic Perspective International Business has always played a vital role in the economic and social of all people through the ages. Muslim as a part of contemporary world, and cannot be exception from this rule. Their religion (Islam) not only permits them, but also encourages them to do business. The prophet Muhammad (pbub) (the Messenger of Islam) himself was a full-time business man for a considerable period of time. However, contemporary Muslim find themselves confronted with serious dilemmas, because they didnt follow their constitution, which are Quran and Sunna .This Qurans emphasis on justice in general and maintenance of straight balance in practical is evident from forceful and oft-repeated injunctions. This study will try to collect some brightness efforts from implementing Islamic rules and standers in international business. 1.2 The purpose of the study: The aim of this study is to recognize Islamic banking as the main contribution in international business and how this contribution adds significant solution to world banking problems 1.3 Methodology: In this project the methodology depends on several references such as books, articles in journals, websites, and magazines. .Chapter Two Literature review: 2.0 The Fundamental of an Islamic Business System The basic frame work for an Islamic business system is a set of rules and laws. Collectively referred to as shariah, governing economic, social, political, and culture aspects of Islamic societies. Shariah originates from the rules dictated by the Quran and its practices, and explanations from Sunnah by the prophet Muhammad. Further elaboration of the rules is provided by scholars in Islamic jurisprudence within the framework of the Quran and Sunnah. (Saeed, M . Ahmed, Zr . Mukhtar, S 2001) This framework clarifies the prohibition of interest. Prohibition of riba, a term of literally meaning an excess and interpreted as any unjustifiable increase of capital whether in loan or sales is the central tenet of the system. More precisely, any positive, fixed predetermined rate tied to the maturity and the amount of principle is considered riba and is prohibited. The general consensus among Islam scholars is that riba cover not only usury but also the changing of interest as widely practiced. This prohibited is based on argument as social justice, equity, and property right. Islam encourages the earning of profit but forbids the charging of interest because profits, determined ex post, symbolize successful entrepreneurship and creation of additional wealth where as interest, determined ex ante, is a cost that is accrued irrespective of the outcome of business operations and may not create wealth if there are business losses. Social justice demands that borrowers and the lender share rewards as well as losses in an equitable fashion and that the process of wealth accumulation and distribution in the economy be fair and representative of true productivity. Risk sharing. Because interest is prohibited, suppliers of funds become investors instead of creditors. The provider of financial capital and the entrepreneur share business risks in return for shares of the profits. Money as potential capital is treated as actual capital only when it joins hand with other resources to un dertake a productive activity. Islam recognizes the time value of money, but only when it acts as capital, not when it is potential capital. Prohibition of speculative behavior. An Islamic financial system discourages hoarding prohibits transactions featuring extreme uncertainties, gambling and risks. Sanctity of contracts. Islam upholds contractual obligation and the disclosure of information as a sacred duty. This feature is intended to reduce the risk of asymmetric information and moral hazard. Shariah-approved activities. Only those business activities that do not violate the rules of shariah qualify for investment. (Saeed, M . Ahmed, Zr . Mukhtar, S 2001) Some of the more popular instruments in Islamic business markets are trade with markup or cost-plus sale (murabaha). One of the most widely used instruments for short-term financing is passed on the traditional nation of purchase finance. The investor undertakes to supply specific goods or commodities, incorporating a mutually agreed contact for resale to the client and a mutually negotiated margin. Profit-sharing agreement (mudaraba). This is identical to an investment fund in which managers handle a pool of funds. The agent-manager has relatively limited liability while having sufficient incentives to perform. The capital is invested in broadly defined activities, and the terms of profit and risk sharing are customized for each investment. The maturity structure ranges from short to medium term and is more suitable for trade activities. 2.1 The Principle of Islamic banking: The principle of Islamic banking is based essentially on the premise that interest, which is strictly forbidden in Islam, is neither a necessary nor a desirable basis for the conduct of banking operation, and that Islamic teachings provide a better foundation for organizing the working of banks. Muslim economists have pointed out that it is a historical accident that interest has become the kingpin of modern banking. The practice of interest has been condemned by foremost thinkers in human history and by all biblical religions. Aristotle dwelt on the barren nature of money and vehemently condemned the institution of interest which describe as birth money from money. ( Abeng, T 1997) Under Judaism, Israelites were forbidden to demand any increase on the principle amount of the sum lent in transactions among themselves, though interest could be charged in dealing between Israelites and gentiles. The reason for his distinction, according to many scholars of Judaism, was that there was no law at that time among the gentiles which prohibited the practice of interest and it was no regarded as unfair that Jews be allowed to recover interest from people who charged interest from them. Among the followers of Islam, the institution of interest has always been regarded as highly ignoble because the Holy of Quran strictly forbidden interest based transaction in all form. In the early history of Islam the injunction relating to prohibition of interest was strictly observed, but with the decline of the hold of religion and spread of western influence, financial practices based on interest began to permeate Muslim societies as well. In the period of colonial domination of Musl im countries by western power, the interest based system became solidly entrenched. Muslim scholars argue which has led to the resent -day dominance of interest in financial transactions all over the globe.( Abeng, T 1997) Muslim scholars recognize the important role banks play in the economy of the country in the modern time. Banking institutions act as financial intermediaries between savers and investors. They can be of significant help in assisting the process of capital formation and development. 2.2 Non Muslim countries interesting with Islamic banking serve The achievements of Islamic banking through world crises encourage many non Islamic countries demand to apply this vision by institutionalized use of Islamic modes of deposit mobilization and financing, if not full flagged Islamic banking; in quit a few non Islamic countries. Thus Islamic financial institutes exist in so far a part as Australia, Denmark, India, Liberia, Liechtenstein, Luxemburg, Philippine, South Africa, Thailand, United Kingdom and United State of America. Apart of these there are a number of nun -Islamic financial institution in non-Muslim countries which offer Islamic finances services for their Muslim clients. There is a good deal of controversy, however, about the financial services being offered by such institutions being in fully conformity with Shariah requirements. Chapter Three 3.0 The impact of Islamic Banking on economic system The culture of Islamic banking has magnificent affect in several dimensions of economic system, which are saving, investment, rate and percentage of growth. These elements have major rule for economic system stability. 3.0.0 Effects on saving and investment Islamic economy has pointed out that standard economic does not yield a definitive conclusion regarding the effect of increased uncertainty of rate of return on the quantum of saving. The actual out come would depend on a number of factors such as the form of utility function and its risk aversion, the degree to which future is discounted, whether or not increased risk is compensated by higher return, and the income and substitution effects of increased uncertainty. It has further been argued that the move to an Islamic interest free system, under cretin conditions, could lead to increase rates to return on saving. Consequently, the increased level of uncertainty that could result from adoption (Profit/loss sharing) (PLS) based system could be compensated unchanged or perhaps even leading to an increase in saving. Muslim economists expect PLS based banking to exercise favorable effect on the level of investment. Both the demand for investment PLS based banking. The demand for investment funds is likely to increase as a fixed coast of capital is no longer required to be met as a part of the firm profit calculations. The marginal product of capital can be taken up to the point where maximum profits are obtained without the constraint of meeting a fixed coast of capital. The supply of investment funds is likely to increase as PLS based banking is enable to undertake the financing of a large number of risky projects on account of an enhanced risky absorbing capacity. 3.0.1 The impact on Rate and Pattern of growth The expected favorable effect of PLS based banking on the level of investment world impart a pronounced growth orientation to the economy, the increased availability of risk capital under the Islamic system would promote technological innovation and experimentation which would be another favorable factor for growth. Islamic banks are also expected to influence the pattern of growth through appropriate selectivity in their financial operations to ensure that the process of growth is broad based and an optimal use for bank resources. 3.0.2 The impact on Allocative efficiency The financial system based on an Islamic frame work of profit sharing would be more efficient in allocating resources as compared to the conventional interest based system. This position is defended on the basic the general proposition that nay financial development that causes investment alternative to be compared to one another, strictly based on their productivity and rate of return, is bound to produce allocative environment, and such a proposition is the cornerstone of the Islamic financial system. Muslim economists do not deny that investment efficiency requires the use of discounting to take proper care of the time dimension of costs and benefits. They emphasize that non-existence of interest does not mean that discounting as a technique of computing the present value of future cash flows cannot be used in an interest free economy. It has father been pointed out that interest rate is not proper discount factor under conditions of uncertainty, the rate of return on equity is the proper discount rate. Science the real world is a world of uncertainty and since no real investment in any economy can be undertaken without facing risk, cash flow of such investment should be discount not by a riskless interest rate but by the true opportunity cost of venture capital. 3.0.3 Consequences for the Stability of the Banking System The literature of Islamic banking that switch over from interest based on PLS based banking would import greater stability to the banking system .there is no assurance on the assets side that all the loan and advances will be covered, shocks on the asset that all the loan and advances will be covered. Shocks on the assets side, therefore, load to a divergence between assets and liabilities, and the banking system can suffer a loss of confidence in the process, leading crises. In the PLS based system, the mineral value of investment deposited is not guaranteed and shocks to the assets position are promptly absorbed in the value of investment deposits. This minimizes the risk of bank failure and enhances the stability of the banking system. 3.0.4 Effects on the Stability of the Economic System The replacement of interest in the Islamic banking system is PLS, that eliminate the interest couple with other institutional feature of the Islamic economy , will tend to enhance stability , the interest in the financial bank depends on debt, which is the main reasons for instability in capital economy . Its easy to see, for example how the interest based system intensifies business reason. As soon as banks find that business concerns are beginning to incur losses, they reduce assistance and call back loans, as a result of which some firms have to close down. This increases unemployment resulting in further reduction in demand, and the infection spreads. Islamic bank on the other hand, are prepared to share in losses in which reduces the severity of business recession and enables the productivity enterprise to tide over difficult period without shutdown. Islamic banking has to be regarded as a promoter of stability rather than a conduit of instability. 3.1 The practice of Islamic banking The Islamic banking movement began on a modest scale in the early sixties. The earliest experiment in Islamic banking took place in the most cases on individual initiative with governments playing a more or less passive role. The later growth of the Islamic banking movement has been significantly helped by the encouragement provide by the government of a number of Muslim countries. The establishment of Islamic banks in banking legislation. It should be mentioned that changes in banking legislation effected in certain countries to facilitate the working of Islamic banks are not intended to confer any special advantages on these banks vis-Ã  -vis the conventional banks. The measures are in fact designed to remove some of the handicaps from which Islamic banks suffer in conducting their operations in an economy where interest based transaction dominate the scene. (Saidi,T.2008) Two different approaches are discernible in regard to the adoption of Islamic banking practices. In a number of countries Islamic banks have been started on private initiative. The governments of these countries have not committed themselves to the abolition of interest, and Islamic banks exist side by side with interest based banks. Pakistan and Iran are following a different approach aimed at economy wide elimination of interest. In Sudan, where Islamic banks co-existed with interest based banks for long time, the government has now opted for economy wide Islamization of banking. This section of the paper reviews the trends in the practice of Islamic banking in both the setting. It also takes note of activities of the Islamic Development bank, which is an international development financing institution working in shariah principles, the banking services by conventional banks in certain Muslim countries. 3.2 Individual entities for Islamic bank practices There are now fifty Islamic banking institution operating in different countries encompassing most of the Muslim world. Two major international holding companies, namely, the Dar al-Mal al-Islami Trust and AL-Baraka Group control a number of Islamic banks Most other have been established by associations of individual sponsors. In some banks there is also a certain amount of government participation in their capital Islamic banks conduct their banking operation under shariah principles. Almost all of them have Shariah Supervisory boards as part of their organizational structure. The function of Shariah Supervisory board is to ensure the compatibility of all the operations of Islamic banks with requirements of Shariah . (Saidi,T.2008) Islamic banks accept both demand deposits and saving and time deposits. Demand deposits are treated as Qard al Hasnah .The bank is given permission to use the deposit amount at its direction but with guarantee of returning the full principle amount on demand. Saving deposits are differentiated from demand deposits as they are subject to certain restriction with respect to the amount that can be withdrawn from such accounts at any one time and the periodicity of such withdrawals. Some Islamic banks accept saving deposit deposits on PLS basis while others do not pay any return on these deposits and guarantee the principle amount. Time deposits are accepted by Islamic banks PLS sharing biases and generally known as investment account. The investment deposits of Islamic banks can have different maturity periods. The return on investment deposit is specified as percentage of total profits in most case, but in most cases the percentage return varies with the length of the period for which the deposits are made. Apart from limited period deposits, some Islamic banks also accept unlimited period investment deposited. In this case, the period of deposit is not specified and the deposits are automatically renewed unless a notice of termination of deposits is given of a mutually agreed of a mutually agreed time interval. Some Islamic banks also have specific investment accounts in which deposits are made for investment in particular project. The return to depositors in these accounts depends on the outcome of these particular projects and the ratio of the profit sharing agreed between the bank and the depositors. Islamic banks operating in different countries are using a combination of the different financing techniques permissible in shariah . However , most of them lean heavily on Murabahah in their operations. This is for two main reasons. Their orientation mainly is towered short term financing of trade transaction for which Murabahah appear to be more convenient devices compared to the system of PLS. Secondly, they are in competition with interest based banks and are therefore anxious to earn at least as much on their environment as will enable them to given return roughly comparable to prevailing interest rate to their investment account holders. This is easier to achieve by engaging in Murabahah transaction as the mark-up can be fixed in a manner which less assure the required return. On the other hand, considerable uncertainty attaches to earnings under a system of PLS sharing as the outcome depends on the operating of various business units which are subject to the usual business haz ards. Excepting the three countries where Islamization of the banking system has taken place on an economy wide basis, Islamic banks in other countries are at a considerable disadvantage in facing the competition with conventional banks as they cannot avail of the facilities of the money market which operates on the basic interest. This forces them to work with much higher liquidity ratios which have implications for their profitability. Islamic banks also face a number of problems in investing their funds internationally as they cannot take advantage of the facilities of the Eurocurrency market and the Eurobond market which offer ready investment outlets for conventional banks. Islamic banks have generally a good track record of profitability. Like conventional banks, Islamic banks also have had problems in the recovery of their due during periods of business recession or suffered loses in some investment which did no pay off but these have not grown to any crises. The Dar Al-Mal Al-Islami, which is a holding company for a large number of Islamic banks, did suffer operating losses in 1983 and 1984, and Kuwait finance House had a bad year in 1984 when neither the shareholders nor the depositors received a return on their capital. However, both these institution recovered from the set back in 1985 and showed good profits. There are course substantial differences in the performance and the profitability of individual institution within the Islamic banking community but this is not surprising because operating conditions and business environment differ widely from country to country. Chapter Four 4.0 Example of Islamic banking in Islamic countries We will spotlight on some Islamic countries like Iran, Pakistan and Sudan. To know their experiences with Islamic Banking. 4.0.0 Iran and Islamic banking A new law was enacted in Iran in August 1983 to replace interest based banking by interest free banking. The new required the banks to convert their deposits to an interest free basis within one year, and their operations within three years, from the date of the passage of the law, and specified the types of transactions that must constitute the basis fro asset and liability acquisition by banks. The law also specified the responsibilities of the central bank under the new system and the mechanics of its control over the banking system. (Roy, D 2010) The law allowed the banks to accept to types of deposits, Quard al Hasanah deposits and term investment deposits. The Quard al Hasanah deposits comprise of current as well as saving account which differ in their operational rules. The holders of current and saving accounts are guaranteed the safety of their principle amount and are not entailed to any contractual return. However , banks are permitted to provide incentive to depositors through Grant of prizes in cash or kind Reduction in or exemption from service charges or agents fees payable to banks. According priority in the use of banking facilities. Holders of term investment deposits are entitled to receive return, depending on the profitability of the project in which these funds are invested. The law allows the banks to undertake and repayment of the principle amount of terms of investment. The law provides various modes of operation upon which the financing transactions of kinds must be based. Banks are obliged to earmark a portion of their resources for grant of Quard al Hasanah to help achieve the socioeconomic objectives set out in the constitution of the country. Beside Quard al Hasanah , banks are authorized to extend financial assistance for predictive venture on PLS basis in accordance with the principle of Mudarabah and Musharakah . Banks are allowed to provide part of the capital of a new joint stock company and also to purchase share of the existing joint stock companies. Banks are authorized to provide working capital financing to productive unites by purchasing new materials, spare parts and other items on their request for sale to them on the basis of deferred payment in installment. Purchasing of machinery and equipment for sale to their clients on deferred payment basis is also allowed. Another mode is called Salaf which is used for meeting working capit al requirements through advance purchase of output. Banks can engage in lease-purchase transaction. In the new set up, the central bank of the country has been given wide authority to control and supervise the operations of the countrys banks. While it continues to have many of the erstwhile credit control weapons which do not involve Riba, it has been endowed with new instrument of control to regulate the interest free operations of the banks. These include power to determine Minimum and maximum expected rates of return from various facilities to the banks. Minimum and maximum profit shares for banks in their Mudarabah and Musharakah activities. Maximum rates of commission the banks can charge for investment accounts for which they serve as trustees. Studies on Islamic banking experience of Iran have pointed out that no attempt has been made so far to Islamize the international banking and financial operations. Government continues to borrow from banks on the based of fixed rate of return. It has also been pointed out that some practices in Iran are not variance with the practice of Islamic banking in other countries. 4.0.1 Sudan and Islamic banking The aim of this economy wide Islamize of the banking system in Sudan has not been smooth and steady. The first attempt to Islamize the entire banking system was made 1984 when a presidential decree was issued directing all commercial banks to stop interest based dealing with immediate effect and to negotiate the conversion of their then existing interest bearing deposits and advances into Islamically acceptable form. Foreign transactions were allowed to be continued on the basis of interest for the time being. It is reported that this sudden change forced the banks to adopt the nearest Islamic alternative available that is Murabahah which soon constituted 90 percent of their financial operations. Its also reported Islamic system only formally in their ledger books and in the reports submitted to the central bank of the country. Policy makers in the central bank were also discontented with the procedure of transforming the banking system. They considered it as a mere political decisio n imposed by the government without being preceded is adequate detailed study. This experiment which economy wide Islamization of banking system came to end in 198 with the charge in government. The government which is presently in power had decided on the economy wide Islamization of the banking system once again, and newspaper reported indicate that the effort is much more earnest and much better organized this time. (Roy, D 2010) 4.0.2 Pakistan and Islamic banking The process of economy wide Islamization of the banking system in Pakistan was initiated soon after declaration by the president of Pakistan in 1979 that government planning to remove interest from the economy within period of three years and that a decision had been taken to make a beginning in this direction with the elimination of the interest from the operation from House Building Finance corporation, National Investment Trust and mutual funds of he investment corporation of Pakistan. Within a few months of this announcement, these specialized finical institutions took the necessary steps to reorientation their activities on a non interest basis was a much more complex task and took a longer time span. To begin with, step were taken in 1981 to set up separate counters for accepting deposits on PLS basis in all the domestic braches of the five nationalized commercial banks. The parallel system, in which savers had the option to keep their money in the bank either in the interestin g bearing deposits or PLS deposits, continued to operate till the end of 1985. As the first 1985, no banking company is allowed to accept any interest bearing deposits except foreign currency deposits which continue to earn interest. As loss of that banking company accepted deposits in current account on which no interest or profit is given and whose capital sum is guaranteed. The central bank of the country has issued instructions specifying twelve modes of financing in which funds mobilized by the banks can be employed. These are broadly classified into three groups: loan financing Trade related mode of financing Investment mode of financing. Loan financing takes the form either Qard Al-Hasan given on compassionate grounds free of any interest or service charge or of loan with a service charge not exceeding the proportionate cost of the operation. (Roy, D 2010) Trade related modes of financing include: Purchase of goods by banks and their sale to clients. Purchase of trade bills. Purchase of movable or immovable property. Leasing. Hire-purchase. Financing for development of property on the basis of a development charge. Investment modes of financing include: Equity participation and purchase of shares Purchase of participation term certification. Rent sharing The central bank of the county ahs been authorized to fix the minimum annual rate of profit which banks should keep in view while considering proposals for provision of financing, and maximum rate of profit they may earn, theses rate may be changed from time to time. It has also been laid down that should lose occur, they must be shared by all the financiers in proportion to the respective finances provided by them. To safeguard the banks against delays and defaults in repayment by parties obtaining finance from them, a new law called the Banking Tribunals ordinance was promulgated in 1984. The tribunals set up under the radiance are required to dispose of all cases within the ninety days of filing the complaint. Appeals can be filled in the high court within thirty days but the decrial amount has to be deposited with high court appeal. 4.0.3 Islamic Development Bank The Islamic Development Bank, established in 1975, is an international financial institution whose purpose is to foster the economic development and social progress of member countries and Muslim communities individually as well as jointly in accordance with principles of Shariah. It has 47 members and a subscribe capital of 2028.74 million Islamic dinar. The functions of the bank are to participate in the equity capital and grant loans for productive project in member countries and to provide financial assistance in other form for economic and social development. The bank is also required to establish and operate special funds for specific purpose including fund for Muslim communities in non-member countries. The bank authorized to accept deposit and to raise fund in any manner. It is also charged with the responsibility of assisting in the promotion of foreign trade, especially in capital goods, among member countries, providing technical assistance to member countries, extending training facilities for personal engaged in development activities and undertaking research for enabling the economic, financial and banking activities in Muslim counties to conform to the Shariah . (Roy, D 2010) The cumulative financing approved by the bank since its inception till the end of 1991-1992 amounted to 9389.13 million Islamic dinar. Foreign trade financing, based on Murabahah, has accounted for the bulk of the total resources providing by the bank to its members. It accounted for 72.5 present of total financing. Loans provided on the basis of a service charge accounted for 8.2 percent while leasing and installment sales accounted for 5.3 percent and 6.3 percent of total financing respectively. Equity participation accounted for 2.2 percent of total financing while the assistance provide through profit sharing accounted for2.0 percent of total financing. Equity participation and profit sharing are regarded as the chief distinguishing features of Islamic financing and banking. It is disappointed to note that, they have so far played very financing operations of Islamic development bank. The over-anxiety of the bank in it initial years to expand the network of equity financing to cover as many of its member countries as possible, lack of sufficient professional expertise in the bank to undertake an adequate appraisal of the project and to pursue the task of vigorous follow up of it equity investment, delay in the implementation of the projects financed by the bank, marketing difficulties and currency devaluation have been cited as the main factors responsible for this situation 4.1 Analysis the role of commercial banks in increase debts Commercial banks is the banks that depends on interest to increase there profits. To achieve his object, they do maximum to attract clients to register in these facilitates, that have different shapes. By the affect of advertising, many people try to achieve their goals by magic solution which is loan. Also there is another promotion from these banks to attract customers which a

Robert Frost Essay -- essays research papers

Robert Lee Frost was born in San Francisco on March 26, 1874 and died in Boston on January 29, 1963. Frost was considered to be one of America’s leading 20th century poets and a four-time winner of the Pulitzer Prize. He was an essentially pastoral poet who was often associated with rural New England. Frost wrote poems of a philosophical region. His poems were traditional but he often said as a dig at his archrival Carl Sandburg, that â€Å"he would soon play tennis without a net as write free verse.† Frost said this because he believed he was a pioneer of rhythm and meter and in the poetic use of vocabulary and inflections of everyday life and speech. Frost’s poetry is considered to be traditional, experimental, regional, and universal (Robert 1997).   Ã‚  Ã‚  Ã‚  Ã‚  Frost was born of two teachers. At the age of ten, Frost suffered the loss of his father. After the death of his father, his mother moved to Lawrence, Massachusetts. He grew up in a teaching atmosphere, along with its problems. Early in Frost's school career, he was extremely careless and preferred fun and game to his studies. In high school, he decided to apply and involve himself in many areas. He graduated in three years from high school at the head of his class. After high school he attended Dartmouth and Harvard but ended up not finishing at either due to personal problems (Newdick).   Ã‚  Ã‚  Ã‚  Ã‚  He was destined to be a teacher. Frost after not making it in college, went to teach at his mother's school in Salem, New Hampshire. In 1912 he went to England to be with his family, and in his publication of North of Boston, in 1914, he was finally hailed as the great artist that he truly was. After he returned to America in 1915, he went to Harvard and read a poem for some exercises, and was instantly honored by institutions of higher learning by their conferring degrees on him (Biography).   Ã‚  Ã‚  Ã‚  Ã‚  Throughout Frost's 60 years of existence, he spent 30 of those years teaching a half a dozen subjects. He has taught in schools ranging from plain white country schoolhouses in his native land of New England to the proud American Universities. He has gained half a lifetime of considered experience and philosophical observations (Libraries). In the critical analysis that I read, the critics were hard on Frost’s work â€Å"Road not taken.† The first critic, William George, starts off by attacking other critics, saying they misin... ... with right or wrong situations, and the speaker has to choose which road, or decision, to take. I like to think that I can somewhat relate to the speaker. I have had to make many choices throughout my life and I will never know whether my choices were right or wrong until I made them. The speaker kind of concludes the poem by saying that he is relieved that he chose the right road to take. I look back and wonder if I had chosen a few different roads, how everything would have come out. I think that a lot of the roads I chose to take have been good, as far as I know. Work Cited â€Å"Biography† www.pro-net.co.uk/home/catalyst/RF/bio.html. 2000. Cervo, Nathan "Frost's The Road Not Taken" Proquest March 27. George, William "Frost's The Road Not Taken" Proquest March 27. "Libraries/media centers: Robert Frost Elementary school." American school and University; Overland Park; Aug 1999. Newdick, Robert S. "Robert Frost and the American college." The Journal of Higher Education; Columbus; Sep./Oct. 1999. â€Å"Robert Frost on the Web† http://www.amherstcommon.com/walking_tour/frost.html.1997. â€Å"Robert Frost (1874-1963)† http://www.lit.kobe-u.ac.jp/~hishika/frost.htm 2000.