Scam free essay sample

The Ketan Parekh Scam The Crash that Shook the Nation The 176-point1 Sensex2 crash on March 1, 2001 came as a major shock for the Government of India, the stock markets and the investors alike. More so, as the Union budget tabled a day earlier had been acclaimed for its growth initiatives and had prompted a 177-point increase in the Sensex. This sudden crash in the stock markets prompted the Securities Exchange Board of India (SEBI) to launch immediate investigations into the volatility of stock markets. SEBI also decided to inspect the books of several brokers who were suspected of triggering the crash. Meanwhile, the Reserve Bank of India (RBI) ordered some banks to furnish data related to their capital market exposure. This was after media reports appeared regarding a private sector bank3 having exceeded its prudential norms of capital exposure, thereby contributing to the stock market volatility. The panic run on the bourses continued and the Bombay Stock Exchange (BSE) President Anand Rathis (Rathi) resignation added to the downfall. Rathi had to resign following allegations that he had used some privileged information, which contributed to the crash. The scam shook the investors confidence in the overall functioning of the stock markets. By the end of March 2001, at least eight people were reported to have committed suicide and hundreds of investors were driven to the brink of bankruptcy. 1 A change of Re. 1 in the price of a share when one speaks of a share rising or falling by so many points. In stock market indices, however, a point is one unit of the composite weighted average on market capitalization of rupee values. 2 A stock market index indicating weighted average of 30 scripts, also known as the BSE Sensitive Index. The daily closing figure of this index broadly reflects the performance of the capital markets. 3 It was alleged that Global Trust Bank exceeded its Capital market exposure. The scam opened up the debate over banks funding capital market operations and lending funds against collateral security. It also raised questions about the validity of dual control of co-operative banks4. (Analysts pointed out that RBI was inspecting the accounts once in two years, which created ample scope for violation of rules. ) The first arrest in the scam was of the noted bull5, Ketan Parekh (KP), on March 30, 2001, by the Central Bureau of Investigation (CBI). Soon, reports abounded as to how KP had single handedly caused one of the biggest scams in the history of Indian financial markets. He was charged with defrauding Bank of India (BoI) of about $30 million among other charges. KPs arrest was followed by yet another panic run on the bourses and the Sensex fell by 147 points. By this time, the scam had become the talk of the nation, with intensive media coverage and unprecedented public outcry. The Man Who Triggered the Crash KP was a chartered accountant by profession and used to manage a family business, NH Securities started by his father. Known for maintaining a low profile, KPs only dubious claim to fame was in 1992, when he was accused in the stock exchange scam6. He was known as the Bombay Bull and had connections with 4 Co-operative banks are under the dual control of RBI and the Registrar of Co-operative Societies. The RBI regulates banking functions while the registrar looks after the managerial and administrative functions. 5 An investor who expects share prices to go up and hence buys them. 6 When the interest rates were freed in mid-1989, it made the price of both bonds and money more volatile, and increased the link between the securities and money markets. With price volatility and increased volumes, securities broking became a profitable activity. The rising volumes were funded by banks through bank receipts (BR is a document issued by a bank acknowledging that it has sold certain government securities to a party and received payment). The scam came to light when RBI asked the SBI to show the bank receipts, and it was found that Rs 6. 22 billion not been reconciled and was untraceable. The money involved in the scam was eventually ascertained to be well over Rs 30 billion. ovie stars, politicians and even leading international entrepreneurs like Australian media tycoon Kerry Packer, who partnered KP in KPV Ventures, a $250 million venture capital fund that invested mainly in new economy companies. Over the years, KP built a network of companies, mainly in Mumbai, involved in stock market operations. The rise of ICE (Information, Communications, and Entertainment) stocks all over the world in early 1999 led to a rise of the Indian stoc k markets as well. The dotcom boom7 contributed to the Bull Run8 led by an upward trend in the NASDAQ9. The companies in which KP held stakes included Amitabh Bachchan Corporation Limited (ABCL), Mukta Arts, Tips and Pritish Nandy Communications. He also had stakes in HFCL, Global Telesystems (Global), Zee Telefilms, Crest Communications, and PentaMedia Graphics KP selected these companies for investment with help from his research team, which listed high growth companies with a small capital base. According to media reports, KP took advantage of low liquidity in these stocks, which eventually came to be known as the K-10 stocks. The shares were held through KPs company, Triumph International. In July 1999, he held around 1. million shares in Global. KP controlled around 16% of Globals floating stock, 25% of Aftek Infosys, and 15% each in Zee and HFCL. The buoyant stock markets from January to July 1999 helped the K-10 stocks increase in value substantially 7 The e-commerce revolution had led to a massive upsurge in the value of technology stocks across the globe, especially Internet v entures. This came to be known as the dotcom boom. 8 A bull run is an uptrend in the stock markets caused by the rise in the price of shares, sustained by buying pressure of actual investors or news of favorable economic growth, decontrol and political developments. The National Association of Securities Dealers Automated Quotation System (NASDAQ) is a US-based stock exchange, which comprises largely of technology stocks. Started in 1971, NASDAQ is the first screen-based, floor less trading system and the second largest stock market in the US. (Refer Exhibit I for BSE Index movements). HFCL soared by 57% while Global increased by 200%. As a result, brokers and fund managers started investing heavily in K-10 stocks. Mutual funds like Alliance Capital, ICICI Prudential Fund and UTI also invested in K-10 stocks, and saw their net asset value soaring. By January 2000, K-10 stocks regularly featured in the top five traded stocks in the exchanges (Refer Exhibit II for the price movements of K-10 stocks). HFCLs traded volumes shot up from 80,000 to 1,047,000 shares. Globals total traded value in the Sensex was Rs 51. 8 billion10. As such huge amounts of money were being pumped into the markets, it became tough for KP to control the movements of the scrips. Also, it was reported that the volumes got too big for him to handle. Analysts and regulators wondered how KP had managed to buy such large stakes. The Factors that Helped the Man According to market sources, though KP was a successful broker, he did not have the money to buy large stakes. According to a report11, 12 lakh shares of Global in July 1999 would have cost KP around Rs 200 million. The stake in Aftek Infosys would have cost him Rs 50 million, while the Zee and HFCL stakes would have cost Rs 250 million each. Analysts claimed that KP borrowed from various companies and banks for this purpose. His financing methods were fairly simple. He bought shares when they were trading at low prices and saw the prices go up in the bull market while continuously trading. When the price was high enough, he 10 11 In September 2002, Rs 48 equalled 1 US $. Businessworld, 16 April, 2001. pledged the shares with banks as collateral for funds. He also borrowed from companies like HFCL. This could not have been possible out without the involvement of banks. A small Ahmedabad-based bank, Madhavapura Mercantile Cooperative Bank (MMCB) was KPs main ally in the scam. KP and his associates started tapping the MMCB for funds in early 2000. In December 2000, when KP faced liquidity problems in settlements he used MMCB in two different ways. First was the pay order12 route, wherein KP issued cheques drawn on BoI to MMCB, against which MMCB issued pay orders. The pay orders were discounted at BoI. It was alleged that MMCB issued funds to KP without proper collateral security and even crossed its capital market exposure limits. As per a RBI inspection report, MMCBs loans to stock markets were around Rs 10 billion of which over Rs 8 billion were lent to KP and his firms. The second route was borrowing from a MMCB branch at Mandvi (Mumbai), where different companies owned by KP and his associates had accounts. KP used around 16 such accounts, either directly or through other broker firms, to obtain funds. Apart from direct borrowings by KP-owned finance companies, a few brokers were also believed to have taken loans on his behalf. It was alleged that Madhur Capital, a company run by Vinit Parikh, the son of MMCB Chairman Ramesh Parikh, had acted on behalf of KP to borrow funds. KP reportedly used his BoI accounts to discount 248 pay orders worth about Rs 24 billion between January and March 2001. BoIs losses eventually amounted to well above Rs 1. billion. 12 A bank issues a pay order after it is clear that the customers account has sufficient funds. The MMCB pay order issue hit several public sector banks very hard. These included big names such as the State Bank of India, Bank of India and the Punjab National Bank, all of whom lost huge amounts in the scam. It was also alleged that Global Trust Bank (GTB) issued loans to KP and its exposure to the capital markets was above the prescribed limits. According to media reports, KP and his associates held around 4-10% stake in the bank. There were also allegations that KP, with the support of GTBs former CMD Ramesh Gelli, rigged the prices of the GTB scrip for a favorable swap ratio13 before its proposed merger with UTI Bank. KPs modus operandi of raising funds by offering shares as collateral security to the banks worked well as long as the share prices were rising, but it reversed when the markets started crashing in March 2000. The crash, which was led by a fall in the NASDAQ, saw the K-10 stocks also declining. KP was asked to either pledge more shares as collateral or return some of the borrowed money. In either case, it put pressure on his financials. By April 2000, mutual funds substantially reduced their exposure in the K-10 stocks. In the next two months, while the Sensex declined by 23% and the NASDAQ by 35. 9%, the K-10 stocks declined by an alarming 67%. However, with improvements in the global technology stock markets, the K-10 stocks began picking up again in May 2000. HFCL nearly doubled from Rs 790 to Rs 1,353 by July 2000, while Global shot up to Rs 1,153. Aftek Infosys was also trading at above Rs 1000. In December 2000, the NASDAQ crashed again and technology stocks took the hardest beating ever in the US. Led by doubts regarding the future of technology stocks, prices started falling across the globe and mutual funds and brokers began 13 The merger was later cancelled. selling them. KP began to have liquidity problems and lost a lot of money during that period. It was alleged that bear hammering of KPs stocks eventually led to payment problems in the markets. The Calcutta Stock Exchanges (CSE) payment crisis was one of the biggest setbacks for KP. The CSE was critical for KPs operation due to three reasons. One, the lack of regulations and surveillance on the bourse allowed a highly illegal and volatile badla business (Refer Exhibit III). Two, the exchange had the third-highest volumes in the country after NSE and BSE. Three, CSE helped KP to cover his operations from his rivals in Mumbai. Brokers at CSE used to buy shares at KPs behest. Though officially the scrips were in the brokers names, unofficially KP held them. KP used to cover any losses that occurred due to price shortfall of the scrips and paid a 2. 5% weekly interest to the brokers. By February 2001, the scrips held by KPs brokers at CSE were reduced to an estimated Rs 6-7 billion from their initial worth of Rs 12 billion. The situation worsened as KPs badla payments of Rs 5-6 billion were not honored on time for the settlement and about 70 CSE brokers, including the top three brokers of the CSE (Dinesh Singhania, Sanjay Khemani and Ashok Podar) defaulted on their payments. By mid-March, the value of stocks held by CSE brokers went down further to around Rs 2. 5-3 billion. The CSE brokers started pressurizing KP for payments. KP again turned to MMCB to get loans. The outflow of funds from MMCB had increased considerably from January 2001. Also, while the earlier loans to KP were against proper collateral and with adequate documentation, it was alleged that this time KP was allowed to borrow without any security. By now, SEBI was implementing several measures to control the damage. An additional 10% deposit margin was imposed on outstanding net sales in the stock markets. Also, the limit for application of the additional volatility margins was lowered from 80% to 60%. To revive the markets, SEBI imposed restriction on short sales14 and ordered that the sale of shares had to be followed by deliveries. It suspended all the broker member directors of BSEs governing board. SEBI also banned trading by all stock exchange presidents, vice-presidents and treasurers. A historical decision to ban the badla system in the country was taken, effective from July 2001, and a rolling settlement system for 200 Group A shares 15 was introduced on the BSE. The System that Bred these Factors The small investors who lost their lifes savings felt that all parties in the functioning of the market were responsible for the scams. They opined that the broker-banker-promoter nexus, which was deemed to have the cceptance of the SEBI itself, was the main reason for the scams in the Indian stock markets. SEBIs measures were widely criticized as being reactive rather than proactive. The market regulator was blamed for being lax in handling the issue of unusual price movement and tremendous volatility in certain shares over an 18-month period prior to February 2001. Analysts also opined that SEBIs market intell igence was 14 Selling of shares without physically possessing them. Usually the speculator promises to deliver the shares in future anticipating a fall in prices. If the price falls, he buys the shares at the lower rate, and makes a profit on the difference. If prices rise, he buys the shares at the higher price, and sustains a loss. 15 Group A shares are otherwise known as specified shares. These companies have the best fundamentals and growth prospects. The trading interest in these shares is high and certain exchanges also offer the carry-forward facility, which enables speculative trading of these shares. Because of the high trading volumes, the spreads are low and it is possible to easily enter and exit from these shares. ery poor. Media reports commented that KPs arrest was also not due to the SEBIs timely action but the result of complaints by BoI. A market watcher said16 When prices moved up, SEBI watched these as normal market movements. It ignored the large positions built up by some operators. Worse, it asked no questions at all. It had to investigate these things, not as a regulatory body, but as deep-probing agency that could coor dinate with other agencies. Who will bear the loss its inefficiency has caused? An equally crucial question was raised by media regarding SEBIs ignorance of the existence of an unofficial market at the CSE. Interestingly enough, there were reports that the arrest was motivated by the governments efforts to diffuse the Tehelka controversy17. Many exchanges were not happy with the decision of banning the badla system as they felt it would rig the liquidity in the market. Analysts who opposed the ban argued that the ban on badla without a suitable alternative for all the scrips, which were being moved to rolling settlement, would rig the volatility in the markets. They argued that the lack of finances for all players in the market would enable the few persons who were able to get funds from the banking system including cooperative banks or promoters to have an undue influence on the markets. 16 17 Business India, April 16-29, 2001. In March 2001, a website, Tehelka. com exposed an alleged corruption racket in defense deals. Many leading politicians, bureaucrats and army personnel were caught on camera indulging in unethical practices. It led to a huge uproar in the media and public, eventually threatening the governments stability. It was alleged that KPs arrest was a ploy by vested interests to divert the nations attention off the Tehelka controversy. The People that the System Duped KP was released on bail in May 2001. The duped investors could do nothing knowing that the legal proceedings would drag on, perhaps for years. Observers opined that in spite of the corrective measures that were implemented, the KP scam had set back the Indian economy by at least a year. Reacting to the scam, all KP had to say was, I made mistakes. It was widely believed that more than a fraud, KP was an example of the rot that was within the Indian financial and regulatory systems. Analysts commented that if the regulatory authorities had been alert, the huge erosion in values could have been avoided or at least controlled. After all, Rs 2000 billion is definitely not a small amount – even for a whole nation. Questions for Discussion 1. Study the developments that led to the Ketan Parekh scam and comment on SEBIs actions after the scam was unearthed. 2. Comment on SEBIs decision to ban badla. What effect would this move have on the stock markets? 3. The Ketan Parekh scam was an example of the inherently weak financial and regulatory set up in India. Discuss the above statement, giving reasons to justify your stand.

Opening FBI free essay sample

Are you a college student, recent graduate, veteran, or professional interested in career opportunities in Washington, DC and various Field Offices throughout the country? The Federal Bureau of Investigation, recruitment representatives are in search of diverse, highly motivated, and talented candidates who are interested in joining the FBI.The Federal Bureau of Investigation (FBI) is a law enforcement and domestic intelligence agency, made up of more than 32,000 employees, charged with protecting and defending the United States against terrorist and foreign intelligence wreaths; upholding and enforcing the criminal laws of the United States; and providing leadership and criminal Justice services to federal, state, municipal, and international agencies and partners.If you are a student, a recent college graduate, veteran, or professional who meets the minimum qualifications and is interested in working for the nations premier law enforcement intelligence agency, dont delay, visit the link below. No paper or email resumes will be accepted. 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Ova Page 1 of 3 Career Opportunities Typical entry level positions include, but are not limited to: Accountant As an accountant with the FBI, you will enter data and perform basic system queries to retrieve information needed in preparing reports ; prepare accounting worksheets analyzes and reconciles the General Ledger (GAL.) ; conducts liaison regarding accounting, financial and system matters ; utilize proper account structure, rules and accounting theory to maintain GAL. trial balances and related procedures.Auditor Perform a variety of audit assignments to include complete audits of less complex Bureau programs or functions or segments of more complex audits.Duties include, but are not limited to: Examine accounts and functions which make up the Financial Management System (FM) ; undercover funding; evidence control; inventory unction; payroll functions ; review operating practices of a program or function to determine compliance with applicable statutes, laws, regulations, and policies ; validate year-end account balances ; prepare audit reports and financial statements which present findings, cite applicable regulations, identify causative situations, and recommend corrective action. Majors: Accounting, Finance, Business) Budget Analyst An FBI Budget Analysts duties vary from one day to the next depending on the budget cycle. This position assumes accountabilities related to the Bureaus finances, budgets, expenditures, and more. You may be involved with developing, analyzing, or executing budgets (impacting resources allocations, future financial estimates, etc. ) ; preparing data in support of the budgetary cycle ; analyzing and comparing budget estimates for variations ; and making recommendations to upper management regarding a number of issues including transfers and reallocation of funding.Communication and leadership skills are essential in properly mediating international conflict over resources. Computer Scientist Acts as the technical expert on all investigations, works in a high-speed, dynamic, and biophysicist environment, and utilizes cutting edge technology. (Major: Computer Science or any degree with 30 semester hours in a combination of mathematics, statistics, and computer science. Fifteen of those hours must include differential and integral calculus. Electrical Engineer A person working in the PEP must have an excellent grasp of Electrical or Computer Engineering (ACE) concepts. A strong candidate will demonstrate some of the following skills: circuit board population, repair, test, debug ;embedded systems hardware or software design ; semiconductor design or fault analysis ; programming military for C, C++, C#, SAM (MIPS, ARM, ex.), Overlong, Python ; familiarity with embedded operating systems (Android, ISO, Windows Phone, ROOTS, Linux, CNN) ; REF and signal processing and analysis.Electronics Technician This position performs installation and maintenance on specified portions of critical units or subunits or disparate components of the Bis communications and intrusions systems. As an ET, you will perform installation, preventative and corrective maintenance on land mobile radio (ELM) systems, data network systems, facilities and electronic security systems within all 56 FBI field offices. In addition, the Its support the ELM for all Department of Justice law enforcement agencies, DEAD, SUMS and TAFT. Its also handle interoperability requirements with sta te and local law enforcement. Majors: Electrical Engineering, Electronics Engineering, Electronics Technology, or equivalent) I. T. Specialist Maximizing the most advanced technologies is a key priority of the FBI. Your accountabilities may encompass overseeing/implementing computer systems and network operations (daily administration, maintenance, ongoing support) ; serving as a technical and informational resource to users ; installing, configuring, and repositioning LILLIAN components ; diagnosing and resolving network issues ; ensuring that information security policies are applied ; and more. Majors: Engineering, Computer Science, Information Science, Information Systems Management, Mathematics, Statistics, Operational Research) Page 2 of 3 Management and Program Analyst Contributing to our efficiency and our culture of achievement is certainly an important role.You may collect, review, and analyze information in order to make recommendations to management ; conduct research to identify and evaluate areas f improvement that have a direct impact on FBI operations ; utilize surveys, interviews, and quantit ative data to prepare statistical analysis reports ; and participate in briefings related to study findings and recommendations. Operational Support Technician This position provides administrative and clerical support to various staff members of the field office.Typical duties include, but are not limited to: assembling, correlating and determining the classification of information received ; uploading, downloading, serializing and indexing documents ; opening and closing cases ; covering leads ; reading, maintaining and disposing of records and files ; maintaining personnel folders ; handling telephonic complaints and inquiries. Writer-Editor As a writer-editor with the FBI, your duties include, but are not limited to: editing material for the Directors daily briefings to the President of the United States ; ensure that written material does not conflict with existing policies, procedures or information previously submitted ; checks accuracy of information ; maintains accurate, organized records and files on all aspects of the production and editorial recesses ; initiates and maintains liaison with authors and other interested parties.How to Submit Your Resume To submit your resume, please click the link provided below. Submitting your resume does not guarantee you will be contacted for a position, however, your resume will be placed on a sharable database that allows FBI hiring managers to see all qualified candidates. If you possess the skills necessary for a certain position, you may be contacted. Disqualifications Conviction of a felony Use of illegal drugs in violation of the FBI drug policy: o Have you used marijuana at all within the last three years?

How to Write an Enterprenour Essay Sample For MBA Scholarship

How to Write an Enterprenour Essay Sample For MBA ScholarshipFor a student wanting to enter the MBA program and see if he or she can pass the entrance exam, the ideal answer is an entrepreneur essay sample for MBA scholarship. There are a lot of different institutions offering these kinds of essays, so it pays to be thorough when choosing one. However, while doing the research, make sure that you also know what kind of essay will best suit your needs.An entrepreneur essay sample for MBA scholarship is required in order to be eligible for the scholarship that is presented on the entry exam. Of course, such an essay could only be written by a current MBA student because it is based on the guidelines of the organization that offered the scholarship. This kind of essay sample is specially designed for the essay writer to assess the applicant's talents and skills.The best way to write an essay of this kind is to put your own unique content to it. This means you have to put yourself in the shoes of the reader by imagining what kind of work you have done in the past. It is also good to imagine what your strengths and weaknesses are. At the same time, think about the things that your current employer would be looking for in an applicant.When writing your entrepreneur for MBA scholarship, it is best to avoid embellishing your past achievements. Your primary goal is to give something of value to the reader, not to make yourself look good. Your primary focus should be on creating a realistic picture of your potential skills and abilities. The most important thing is to get it right soon!Take note of the organization that provides you with the material so that you can follow the instructions in the right direction. The overall theme of your essay should be based on the reality of your circumstances as well as your current job. However, do not be too specific and work with a vague, generalized concept.Next, you must look at your academic requirements. Before deciding on an essay topic, you must be sure that you meet the requirements. Keep in mind that your overall theme of the essay is based on your present situation, so be sure that you incorporate that into your topic.You may want to check your high school transcripts to determine your GPA. It is advisable to keep this information at the back of your mind when choosing an essay topic. Of course, do not use this information as the basis for your essay idea because it is not required.There are a lot of topics that you can tackle in an entrepreneur essay. For example, you could address the topic of 'work culture', which will help you outline your own expectations in relation to working in an organization. Some other examples include: management of time, direction, goals, and work skills. The point is that the more you know about the company, the better your essay is going to be.

How Does Seperation Shape Personality †Psychology Essay

How Does Seperation Shape Personality – Psychology Essay Free Online Research Papers How Does Seperation Shape Personality Psychology Essay One of my earliest memories is being taken to a new child minder at the age of about four by my dad. It was a big kitchen with lots of children. My dad wanted to leave me there, and I would not let him go. The child minder’s daughter took me upstairs to her room, to show me her make up, and I remember thinking, I must go back downstairs, because my dad will leave me here. When I got back downstairs, he was gone. I still have a clear picture in my head of having a tantrum in the middle of the kitchen with everyone looking at me, and writing this, I can still feel the trauma of being left there. Being separated from my parents since the age of about 2 has been a familiar experience for me. In this essay, I will explore to see how these experiences have affected my relationship with my parents, particularly my mother. I will look at my experiences in relation to Attachment Theory and speculate whether I fit into any of the attachment models, and whether our experiences of being separated from one another have shaped our relationship. My parents came to England from Turkey in the early 1970’s, and I was born in 1975 in Turkey. My dad was in England when I was born, and didn’t see me until I was eight months old. Until then, I was cared for by my mother, and her family. When I was eight months we returned back to England. As we don’t have any other family here, we have always been a very close nit family, and I spent all my time with my parents. When I was two, my mum and I went back to Turkey, and I was left there with her family again for six months, and I formed close emotional bonds with my grandmother and my aunt, who were my main caregivers. When my mum returned six months later to collect me, she describes me as being distant from her. Although I did go to her, I was reluctant to stay with her, and wanted to go back to my aunt, who I had also started referring to as ‘Mum’, but due to the strong emotional bond I initially had with my mum, meant that the relationship went bac k to being as close as it was before I had been separated from her. However, a couple more separations up until the age of six meant that the anxiety caused as a result of these separations became a familiar feeling for me, and growing up, I was clingy, and fearful of strange environments and people. I’m not sure which of the separations was most significant, but the one I remember most clearly happened when I was five. My brother, who was nearly one at the time, and I were taken to Turkey, where we were separated from my parents for a whole year. My memories from that year are very clear, but the overriding feeling was one of deep discontentment. It always felt like something was missing, and when my family talk of that time, I am always remembered as being quiet and never really happy. As I was growing up, I have always been aware of anxious feelings of being away from my parents, especially my mum. Due to their work commitments, we were never able to take family holidays together, so often my brother and I would go on holiday to Turkey without my parents. It would always take a week before I would settle into being there, and would feel quite tearful whenever I spoke to my mum on the phone. Likewise, when my parents went on holiday, and I would stay behind in England similar feelings would arise. I had, and still do to an extent have a tendency to be slightly clingy, and at times of distress, will almost always go home to my parents for comfort. After we returned from Turkey when I was almost seven, I really hated being away from my mother. I wanted to stay with her all time, and I felt unsafe when I wasn’t with her. I was always quite fearful, and I can still remember the sense of loss I felt when I wasn’t with her. I am still remembered by friends of my parents as being the well behaved little girl, who never left her mum’s side, but in hindsight, I do wonder now if that was linked to fear of being away from her. I can remember times when my mum had to work, so my brother and I would either have to go to a play scheme or to the child minders after school, and I do recall feeling afraid. When we went to play scheme after school, I would have been about nine or ten, so my brother would have been about five, I would never let him play too far away from me, as I was afraid something would happen to him, and I was often afraid of one of us being kidnapped by strangers. I would never be able to relax, or just enjoy being with other children. Looking at Bowlby’s models, at this stage I think I would have fitted into the Anxious resistant attachment, whereby the individual is always prone to separation anxiety and tends to be cling and anxious about exploring the world. Maybe if the separations had not been so consiste nt, or for such long periods of time, then maybe the closeness of our relationship would have prevented me from being so fearful of being apart from my mother. But the fact that most of the separations were quite traumatic incidents for me, I think may have contributed to my fears. There are however contradictory incidents which make me question the model’s relevance to me. At the age of eight, I went on holiday to Turkey on my own. My parents took me to the airport here, and I was picked up by my grandparents at the other end. I don’t remember being scared or fearful, or anxious about being separated from my mum at all. This also makes me think about the way I am as an adult. Although I am extremely close to my parents, and could to an extent resonate with the anxious resistant model when I was younger, it doesn’t resonate with me as I am now. Looking at the Adult Attachment Interview, I can relate to classification SST B. Even when I was younger, I still was able to form close secure attachments, especially with my teachers at school and I was very attached to my aunt when I was in Turkey. As an adult I have been fairly independent, and at times have had to fight my parents for independence. Although this could be linked to model anxious avoidant attachment, where the individual may attempt to become self sufficient, I don’t believe this is the case. Holmes (1996) however states that we autonomy is possible on the basis of an inner secure world, as believes that we can go it alone as long as we are sure that we can return to attachment and intimacy as needed, He states that we can be intimate if we feel autonomous enough not to fear engulfment and know that separation does not mean that our loved ones will be lost forever, which makes more sense to me. There is one major incident in my adult life however, where I did revisit feelings of separation and abandonment. When I was nineteen I got together with someone who was mixed race. I always knew my parents would disapprove of this relationship, being Turkish, they didn’t approve of my having boyfriends let alone non-Turkish ones. A year after of being together, I told them about my boyfriend, Paul and how I felt about him. Their reaction was not so different from how I expected it to be. They insisted that I split up with him, and there were threats of disowning me. Up until then I had generally been a ‘good, well behaved’ daughter, and would generally do as I was told. This time however, I wouldn’t. My relationship with Paul had been quite up and down, but something was keeping me there, and even during the most difficult times with Paul, where there was no real relationship to save, I was still hanging on, and fighting my parents. Paul was adopted and a lready had issues of rejection which I was well aware of, and I felt a strong sense of responsibility to not let him down. My parents didn’t carry out their threat to disown me until three years later when I moved in with Paul. By then I had got used to the arguments. They would tell me I had to split up with him, or they would disown me, and I would refuse, eventually they would back down, for a while and then it would start again. They always said they would never accept the relationship. Things changed when I moved in with him. This time they were very serious about disowning me, although they did say that they would try and accept the relationship if I just didn’t move in with him, which was what I had been wanting all along anyway. However it was too little too late, and so I moved in with Paul. He had just bought a new flat and we were decorating it together. I will never forget the phone conversation I had with my mum, where she told me they no longer had a daug hter†¦.. I didn’t cry initially, I was very calm on the phone. I quietly walked downstairs. Paul opened his arms and told me he was there for me. At least I was making someone happy. Until then Paul and I had been arguing because he had felt that I wasn’t doing enough to fight for him. He had wanted me to disown my parents for him. Well now they had disowned me. The separation lasted a few months. Paul and I always got on well when I was having problems with my parents, so I became quite attached to him during those times. It felt very wrong in this situation. I hadn’t done anything wrong, yet I was being punished, and was expected to be understanding towards everyone’s needs. But no one seemed understanding towards mine. No one was hearing my voice, yet I was being blamed for everything. Eventually my parents started talking to me again. They still weren’t openly accepting, and were refusing to meet him, but they had stopped telling me to split up with him. I was always trying to be there for Paul as well, and thought that by not giving him up, no matter how much suffering I went through, or no matter what he did, I could show him that I wasn’t going to abandon him. I was also afraid that Paul was going to leave me, as he had affairs whilst we were together, and whenever I tried to leave him because of these he would beg and plead me not to leave him. And the one time he wanted to leave me, I wouldn’t let him. I felt I had put in too much effort for him to leave me. I did eventually leave him, not because of my parents, or because I found out about another affair. My parents did actually accept the relationship after five and a half years! We got engaged, and as soon as that happened, something in me changed. Maybe the challenge was over! I don’t know. 6 months after I first had that feeling I met someone else. He had walked into my life and he promised me a fairytale! The fairytale never happened. I’m struggling with relating all this to my childhood experiences, and applying it all to attachment theory. I know these were all hugely significant times in my life, and I can see certain patterns and consistencies in these situations. When I chose to write about my separation in relation to attachment theory, I envisaged a particular outcome. I assumed I would be Anxious Insecure Avoidant. I now think I’m secure. Although I have brought up the subject of my separation from my parents and subsequent problems in my relationships in my therapy sessions, it was never really explored in a psychoanalytic way therefore I am uncertain as to how I have moved from one model to another, or if they apply to me at all. I was unsure how to write this essay, as I wasn’t writing about attachment from a clinical perspective, and have found it difficult to apply the theory to my own experiences. However, what I did want to do was to speculate how my separation from my parents would have affected my personality development. And having re read this paper, I do feel like I have brought up certain issues as though I was in a therapeutic session. I guess if this was a therapy session, it would be over to the therapist now†¦..! 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Business Essays Entrepreneurship Pancake Cereal Entrepreneurship Pancake Cereal Business Model / Mo’s Pancake and Cereal Bar Introduction Entrepreneurship is a thriving activity in the United States, as well as globally. Increasing numbers of people are deciding to implement their dreams of business ownership. There are between three and five million entrepreneurial business ventures undertaken annually within the United States. Eighty-four percent of those starting a new business venture are first-time entrepreneurs (Zimmerer however, 64% of small businesses fail within six years (Zimmerer and as a result, starting a new business is no longer perceived as particularly risky. In light of this favorable environment for entrepreneurial activity, the success of a new business venture, Mo’s Pancake and Cereal Bar (MPCB), located in the vibrant and historical downtown district of Grapevine, Texas, seems particularly promising. Elements of several relevant disciplines will play a vital role in the success or failure o f this particular venture. By taking advantage of the perspectives of these particular disciplines, it should be possible to integrate their insights in order to create a viable business plan that will result in the ultimate success of Mo’s Pancake and Cereal Bar (Repko, 2005). There are a wide range of disciplines that could contribute to the creation of a successful business plan for MPCB. Some of these disciplines include architecture, business administration, education, history, political science, sociology, and urban planning and development. Three disciplines have been identified as those making the greatest contribution: urban planning and development, architecture and the subfield of interior design, and business with an emphasis on small business management. An understanding of urban planning and development will be necessary to ensure a business plan that is that is in keeping with the overall goals and the long-term development plans of the city of Grapevine. Urban planning and development plays a key role in understanding patterns of growth and its resulting economic implications (McCarthy, 2007). The ownership and management of MPCB must understand the significance of community goals and the importance of these goals on the ultimate success of MPCB. As an organization, MPCB should develop strong ties with city government and take an active part in promoting its development. One way it can do this is by taking part in such activities as Main Street Days , Grapefest , and various holiday festivities held annually in the city of Grapevine.

Brief the UK company on business and national cultural norms in the Assignment

Brief the UK company on business and national cultural norms in the host country - Assignment Example Within an organization, the way how members interconnect, plan and make choices is largely influenced by beliefs, rules of conduct, attitudes, values and norms. Every organization has its own norms, customs, values, expectations and cultures that effect the interaction or behavior of the employees towards administration, associates, colleagues and collaboration between one another to achieve organizational goals. Norms are guidelines set by organizations to workers to be recognized and help them to accomplish its objectives. Members of the organization are directed to learn and follow various proceedings that occur at work and answer to them that expose businesses guiding norms and values (Gannon and Pillai, 2010) There are number of aspects that effect business success and offer its more development and growth. Business activity is directly affected by the values people follow and culture is demonstrated as the edge where certain set of values work. Values, beliefs and attitudes that are occasionally donated to as â€Å"Culture†, has an unchallengeable role in human actions and growth. It appears that in order to contribute in nation’s economic wealth and happiness, there must be a certain set of moral codes and values that assist in doing business (Chang, 2006). Certainly, values play the chief role in decision-building, as they direct attitude to one condition or another. Business success can be influenced by the values of individuals, their attitudes and principles as these features direct their action and behavior. Cultural elements have an important influence on the growth of business. Each society has its own elements of culture (Czinkota and Ronkainen, 2007). These factors of culture are demonstrated through: verbal, Nonverbal, religion, Language, manners, actions, education, aesthetics, social society and material elements. Adjustment of these essentials for an international company governs on its degree in

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