Tuesday, June 30, 2020
The financial disasters of the late 2008 and the period since can be attributed to a false understanding of risk by the institutions because they forgot to apply it. Management of risk is one of the canons of their business but rather than apply it in their dealings, they allowed greed for more profit to becloud their judgement. Banks and other financial institutions are indeed in business to make profit and add to shareholders value. By so doing, they confront all manner of potential risks all firms must face in order to achieve the goal of profit maximization and shareholders added value. It is in the pursuit of these twin objectives, that banks and other financial institutions ignored risks inherent in the various transactions that took place during the financial crisis of 2008. There were so many risk factors the financial institutions failed to take into consideration in their quest for profit maximisation. Outlined below are some of the relevant risk issues associated with the financial crises which they failed to consider and apply. 1] Concentration risk 2] Portfolio risk 3] Default risk 4] Liquidity risk 5] Systematic risk Concentration risk Most of the banks and other financial institutions in that period failed to diversify their loan portfolio. They became heavily involved in mortgage lending because of its high yielding returns and because they were fully secured by the underlying tangible asset. It is well known that concentration in one product market is dangerous hence, the massive downward adjustment in global real estate market prices that led to massive losses. Had the institutions diversified their portfolio, the losses would have drastically reduced. Portfolio risk Asset Based Lending During the period, most of the financial institutions were encouraged to be involved in mortgage lending and other complex collateralised debt obligations forgetting that collateralised assets do not pay debts except cash flow and the ability of the debtor customers to pay their debt obligations when they fall due. Moreover, in a period of crisis and defaults, collateral values tend to decline and that calls for lenders to seek additional collateral with a view to correcting the collateral deficiency of the debt or demand to be repaid or seize and sell the collateral pledged. During the crisis, wave of foreclosures forced down prices of all manners of collaterals. The repercussion was that, the foreclosure of the properties drove down liquidity. According to Davis (2008 p.15) in his explanation in his DIIS working paper, unsecured lenders saw that money was being lost by secured lenders (when their properties were put on sale) and began to withdraw their often short-term funding too thereby creating liquidity problem. Another was the Collateralised Debt Obligations: Banks involvement with CDO raised so many questions as to if the CDOs were what caused the crisis, although it served as a good reason for the banks to keep on lending along with investors who also saw a positive way of increasing returns in events of a drop in interest rates (Marinescu, 2010 p.1). These CDOs were categorised under three segments which were; Junior, Mezzanine and Senior. The Junior level involved high risks and returns, along with mezzanine which stood in the middle, while the Senior level was regarded as the safest with low risks and returns. This however did not stop the investors from wanting to gain higher returns especially in the year, 2002 and 2003, which made banks create what Tett (2009 p. 110) referred to as a CDO of CDOs (meaning) instead of the company purchasing a bundle of loans, it would possess pieces of debt issued by other CDOs and then issue new CDO notes, all with the main purpose of making bigger profits. Liquidity Risk Liquidity was another major risk that the banks and other institutions faced which later became a critical issue in 2008. They took it for granted and were attracted by the fees available in a high-churn business of extending new loans, selling them on and lending again. They also presumed continually that rising asset values would protect them against any borrower difficulties. With what was known as the Structured Investment Vehicles (SIVs) not being able to sell their commercial notes, in addition to the leverage of the banks, default of payments on the part of the customers, investors being too afraid to invest anymore in what they were not sure of and a bank-run on the part of the customers, all if not more contributed to a decrease in liquidity in the process. Also the Collateralised mortgage obligations contributed to this because they were assets and generally not cash at hand which made them somewhat difficult to be sold on a quicker pace and led to the problem of liqui dity which pushed the unfortunate banks to insolvency. Default Risk This risk later became a reality when the customers defaulted in payment which may have come about because of a crash in house prices and not wanting to end up paying back the loans they took, or as a result of the unemployment and the increase in interest rates, the average rate on an adjustable mortgage rose from 3.5% in late 2005 to 5% by autumn of 2007 (Tett 2009, p. 226). Tett (2009) also mentions the unkempt nature in which some of the houses were left by the defaulters who moved out, making it difficult for the institutions to sell them for a good price- which was also impossible because of the fall in prices as mentioned above. Systematic Risk The Financial Institutions were interested in moving assets from their portfolios by spreading them out that they failed to look at what might happen in the future concerning those risks. They were focused solely on idiosyncratic risk and were blind to the record build up of systematic risk that had happened right in front of their eyes, partly with their permission (Kapoor, 2010 p.31) CONCLUDING REMARKS Operational risk played a major role in showing how some of the Financial Institutions took the coming of a crisis for granted. Majority of the banks were not prepared for the shock, which brings us to the question of asking if no careful attention was put in place to reduce these levels of risk. At first, the banks felt they were diversifying their risks by embarking on projects they considered safe which were indeed not, although some rating agencies declared them safe, it was later observed that there was no transparency on the part of these agencies which meant there was a high rate of information asymmetry which served as a disaster to Lehman Brothers who invested in these bad assets (Stiglitz, 2009). The Mortgage assets held by Lehman Brothers and their involvement in sub-prime mortgage lending, along with the belief that they could earn high returns on investment with the continuous rise in house prices, took a turn-about when the prices fell and they were highly leverage d. In an attempt to move assets off its balance sheet, Lehman brothers before its collapse transferred assets worth 5 billion dollars (Merced and Sorkin, 2010 p.1). Never the less, no one was able to come to its rescue, mainly because institutions didnt trust each other anymore. Another risk which was misunderstood was the default risk. The diversification of the risks were held under the notion that because they were being spread out, the risk of one defaulting would not affect the others, but the diversification was not going as planned in the sub-prime mortgage sector, and since these asset backed securities (ABS) were somewhat grouped together even though spread around, a default in one simultaneously led to a default in the other. SIVs were believed to be safe, but the Institutions did not take into consideration that since SIVs were completely off the rules of the regulators, the central banks were in no position to bail them out in the event of a crisis which eventually ar ose when SIVs were no longer able to sell their commercial notes. The leverage of Financial Institutions and the dependence on ABS, particularly mortgage backed securities caused so much havoc which pushed some of them on the verge of bankruptcy, For example; Bear Stearns the company was involved in mortgage backed securities, paid for by debts with short maturities and these mortgage backed securities were difficult for them to sell at a fast pace (Tett 2009, pp. 203- 236). Roles of Regulators There have been several debates as to whether the bank regulators could have contributed more in terms of monitoring the banks, supervising and scrutinizing these financial institutions in order to detect any illegal devices. Epstein (2008) commented on the fact that supervisors should have gone the extra mile in monitoring the risk of banks. He further went on to point that majority of the problems associated with the financial crisis originated from not paying full attention to the operational risk. The lackadaisical attitude in the financial system arose as a result of how the system regained balance after the Internet bubble and the collapse of Enron and Amaranth in 2006. By 2007, the dominant creed at the Washington Federal and US Treasury was that credit risk had been so widely dispersed via credit derivatives and CDOs, that any blows would be absorbed (Tett, 2009, p. 179). Again the regulators relied solely on the risk assessment techniques of the financial institution s which were not exactly error free. The banks on the other hand, felt they were doing a good job at managing their risks through rating agencies, diversification and many more, so also, risk assessment models and these mathematical models approved to be safe were indeed not because they failed to look at all other underlying factors associated with risk and could not clearly see the implications of excessive leverage, default risk on the part of the customers, the risk of sub-prime mortgage loans, the general misguided opinion of a constant rise in the house prices and the greed to earn higher returns on investment.
Wednesday, May 20, 2020
The Survival By Change Charles Darwin once said, Ã¢â¬Å"It is not the strongest of the species that survive, nor the most intelligent, but the one most responsive to change.Ã¢â¬ He implies the strongest most intelligent man will not survive, but the one who can adapt will. Adaptation in the Holocaust glowed not when the victims were treated like animals and not humans, but when the only way to survive was to adapt to the change. In the books Maus and Night the characters were forced to adapt new behaviors in order to survive. The prisoners of the Holocaust exhibited behaviors that didnÃ¢â¬â¢t follow ordinary character traits because they would be killed if they didnÃ¢â¬â¢t do everything necessary for survival. When victims of the holocaust had to lie in order to survive this could mean that someone else wouldnÃ¢â¬â¢t survive. The Nazis brutally kept Jewish men, women and children in horrible conditions. The Jews were abused, forced to work, murdered and persecuted like never before. The harsh conditions made prisoners desperate to survive this atrocity. They did whatever was necessary to survive this horror. These prisoners utilized skills never before seen because this was a Holocaust like never before. Lying was an attribute which helped many people in the Holocaust to survive and obtain rare commodities such as food and shelter. Vladek Spiegalman is one of these Jews during the Holocaust and desperate to survive he was forced to lie and cheat to get the best job possible. He did this when heShow MoreRelatedThe Theory of Evolution and Survival of the Fittest Essay1046 Words Ã |Ã 5 Pagesrelated and has descended from a common ancestor. The theory of evolution and survival of the f ittest has been around since the time of the ancient Greeks and maybe earlier. Evolution has provided people of the world with an explanation of how everyone and everything got here. Although, this theory has sparked a lot of debate, the factual side of evolution is quite interesting. Contrary to popular belief, Charles Darwin was not the first person to come up with evolution. ItÃ¢â¬â¢s been around for manyRead MoreCharles Darwin s Theory Of Evolution1173 Words Ã |Ã 5 PagesEvolutionary theories were first proposed by Charles Darwin in the 19th century, and 150 years later, these ideas are still being studied and proven today. Charles Darwin set the basis for these discoveries. Natural Selection and survival of the fittest are two examples of evolution. Charles Darwin once exclaimed, Ã¢â¬Å"It is not the strongest of the species that survives, nor the most intelligent that survives. It is the one that is the most adaptable to change.Ã¢â¬ This and many accusations have set the toneRead MoreCharles Darwin s Theory Of Evolution1420 Words Ã |Ã 6 Pages Evolution: Inceptions and Implications with Charles Darwin and Joseph Schumpeter Okema Johnson Coppin State University IDST 499-401 Dr. Ray September 25, 2015 Charles Darwin is best known for his work on the theory of Evolution by means of Natural Selection. His theory paved the way for humanity to understand where different species came about and how they are able to survive in their environments. When initially developed, his theory did erupt a few controversial debates becauseRead MoreCharles Darwin s Theory Of Natural Phenomenon And A Collector Of Specimen Essay853 Words Ã |Ã 4 PagesCharles Darwin was born on February 12, 1809 in Shrewsbury, England and was raised as a fifth child by a wealthy family. In 1825, Darwin graduated from the Elite school at Shrewsbury. In 1927 he dropped out from the University of Edinburgh and entered the University of Cambridge in order to become a clergyman for the Church of England. There he met Adam Sedgwick and John Stevens Henslowe. The two figures taught Darwin to become and observe of natural phenomenon and a collector of specimen. AfterRead MoreCharles Darwins Theory of Evolution by Natural Se lection Essay1027 Words Ã |Ã 5 Pages Darwin is considered by other people as the creator of Evolution. Darwin was not the only man to arrive at the theory of evolution. Darwin came to his theory of evolution at the same time as an another man who goes by the name of Alfred Russell Wallace came to the same conclusion. Wallace being relatively unknown was not respected for having the same conclusion because the fact that people were so apt to listen to the theoryÃ¢â¬â¢s of Charles Darwin. After time Darwin published a book On the OriginRead MoreEvolution And Evolution Of Evolution884 Words Ã |Ã 4 Pages Evolution Evolution, a change in the genetic makeup of a subgroup, or population, of a species (Nowicki 10). Every living thing in the world is capable of evolving into something. Cells evolve to perform different tasks and to become stronger. Charles Darwin is the founder of evolution, he realized that species change over time to ensure survival. The future of evolution can not be predicted. Everything in our universe starts out as a single celled organism. All life traces back to three billionRead MoreHow Organisms Evolved From a Common Ancestors1101 Words Ã |Ã 5 Pagesbecause humans have evolved throughout many centuries. Charles Darwin had many theories that incorporated the main principle of biology, natural selection and evolution. Darwin explained natural selection as an evolutionary change where organisms that become more adapted to their environment will survive better than those who do not (Natural, 2004). Through evolution and natural selection many species, including humans, are here today. Charles Darwin founded the principle of natural selection, whichRead MoreThe Process of Natural Selection Essay781 Words Ã |Ã 4 Pagesphenotype to ultimate causes. Much of we know today about evolution derives from the late great pioneer, Charles Darwin. Charles Darwin was an english naturalist that even from an early age was very interested in outdoor pursuits. Early in his prep career his father tried sending him to the University of Edinburg to pursue his medical school. With his dads hopes falling through because Charles was scared by the gore of surgery and couldnÃ¢â¬â¢t stay in the operating room. His father then sent him to ChristÃ¢â¬â¢sRead More Charles Darwin Essay1745 Words Ã |Ã 7 Pages Charles Darwin was a man who shaped the way in which we think about evolution in modern times. He brought forth and described the theory of natural selection and survival of the fittest. To fully understand modern evolutionary thoughts it is necessary for one to completely understand the early theories of Charles Darwin. In this paper I will provide the reader with a complete background on Charles Darwin, describe his voyage on the HMS Beagle, and discuss his theory of natural selection. Read MoreThe Contribution of the Discoveries and Theories of Charles Darwin in the Nineteenth Century to the Decline of Religious Belief in the Twentieth Centu586 Words Ã |Ã 3 PagesContribution of the Discoveries and Theories of Charles Darwin in the Nineteenth Century to the Decline of Religious Belief in the Twentieth Century In Victorian England, people wanted answers. Explanations for unusual natural events were becoming unbelievable in an increasingly educated time, and these religious and supernatural explanations were doubted by many. People needed a sensible explanation for life and mans existence. Charles Darwin provided a possible answer, and man was
Tuesday, May 19, 2020
Known for her creative thinking and unique outlook on life a child mourns the death of her soul and heart; so suddenly taken from her by the one she trusted and loved most, school. It is widely acknowledge that creativity is becoming endangered in America; this is so because the American education system is strict and regulated, allowing for little wriggle room for creativity. Many people wonder if schools should teach creativity, however, that is impossible. Creativity is the unique way of thinking and expressing ideas, thus it is impossible to teach. Nonetheless, schools need creativity and can help boost it in their schools by supporting the arts as well as students who think outside the box. When one thinks of the subject of scienceÃ¢â¬ ¦show more contentÃ¢â¬ ¦In this particular class we had been drilling specific type of problems and they teacher wanted us to do it their way. This caused many issues for several if not most of the student in the class, because not everyoneÃ¢â¬â¢s mind processed and worked things out the same way as the teacher. Thus several studentsÃ¢â¬â¢ had questions on the material. Instead of elaborating upon it in a different way, the teacher explained it again, and again using the same method. Now when the quiz rolled around many kids had deciphered the method and began to understand it. I was fortunate to be one the kids who understood it, but instead I made a hybrid between something that would work for me and method forced upon us; yet despite me showing my work as well as the correct answers I received a D+ why?; because I didnÃ¢â¬â¢t follow the method exactly. Even organizationsÃ¢â¬â¢ that America and even the world hold high in este em have found a lack of creativity. Ã¢â¬Å"NASA and Boeing are finding that recent graduates can technically render in two dimensions but can no longer think in three.Ã¢â¬ The Creativity Crisis: Why American Schools Need Design, published in The Atlantic, then goes on to state, Ã¢â¬Å"Ideal job candidates at these companies must now show they can Ã¢â¬ Ã¢â¬ think with their handsÃ¢â¬ Ã¢â¬ by having expertise or a second major in a musical instrument, auto repair, or sculpture.Ã¢â¬ . These passages show the importance of creativity is in the real world, and that
Wednesday, May 6, 2020
Some people hear the country Honduras and immediately picture the incredible diving offered, others feel pity and fear as they imagine the incredibly high rates of violent crimes. While both perspectives are true, Honduras has a plethora of fascinating traits. Located in Central America, HondurasÃ¢â¬â¢ major language spoken is Spanish, and the capital is Tegucigalpa. It also holds many historical stories leading up to what it is today, incredible geography, culture, economics, and fascinating relationships with other countries. To admire the country for what it is today, understanding how it came to be is essential. Honduras was inhabited by indigenous tribes that were each incredibly diverse in their culture and literature. Ã¢â¬Å"The most powerful and advanced of these were the Mayans, who also populated YucatÃ ¡n, Belize, and the northeast of Guatemala and built their sacred city and ceremonial metropolis in CopÃ ¡n, in the western part of Honduras.Ã¢â¬ (Klaus KÃ ¤stle) Then, on July 30, 1502, Christopher Columbus explored the country in search for gold and silver, which led to Honduras living under Spanish control. This continued until 1821, when Honduras declared independence from Spain, and became a federation of Central American states. As a democratic republic, Juan Francisco de Molina took position as the first president. Since leaving office in 1839, many presidents have taken his place. One quite memorable ruler was Manuel Zelaya Rosales, who, after propsing to makingShow MoreRelatedWorking Hard Drinking Hard Is An Ethnography Written By Adrienne Pine1585 Words Ã |Ã 7 Pagesfocused her research work based out of Honduras and it took place from 1997-2003. Honduras is a country located in Central America neighbouring to Nicaragua and Guatemala. Throughout field notes, audio, and video clips along with participant observation Adrienne Pine was able to capture the way of life for certain Hondurans who were able to tell her their stories. Poverty has been a key association of many issues for the Honduran people and has had a tremendous impact on: work and employment, alcoholRead MoreBanana Cultures By John Soluri1647 Words Ã |Ã 7 PagesWe eat bananas almost every day; however, most of us do not really know where these fruits come from. In Banana Cultures, John Soluri focuses on the relationship between banana production in Honduras, especially in the North Coast between roughly 1870 and 1975, and banana consumption in the U. S.. He focuses on growing, protecting, t ransporting, and mass marketing of bananas. John Soluri integrates Agroecology, anthropology, political economy, and history in order to trace the symbolic growth ofRead MoreWhat Does All Of Latin America Have A Common?1134 Words Ã |Ã 5 PagesOn the first day of Latin American Cultures, Professor Navia asked, Ã¢â¬Å"What does all of Latin America have in common?Ã¢â¬ In response, the students had a combination of answers: language, geography, and culture. However, everyone overlooked the most obvious answer: inequality. Inequality comes in all shapes and forms, and the most commonly thought of inequality is the gap between the rich and poor (income distribution). In this case, the primary inequality that will be addressed is human rights. AccordingRead MoreBanana Cultures By John Soluri1135 Words Ã |Ã 5 PagesWe eat bananas almost every day; however, most of us do not really know where these fruits come from. In Banana Cultures, John Soluri focuses on the relationship betwee n banana production in Honduras, especially in the North Coast between roughly 1870 and 1975, and banana consumption in the U. S.. He focuses on growing, protecting, transporting, and mass marketing of bananas. John Soluri integrates Agroecology, anthropology, political economy, and history in order to trace the symbolic growth ofRead MoreThe Poverty And Disaster Risks877 Words Ã |Ã 4 Pagespopulations, help to develop and put back those vulnerable pieces back into well-developed societies, help that would allow Honduras to prosper from. With as much focus on the humanitarian support, World Vision offers, their core values are still deep-rooted into the Christian faith, which could not be ignored. Some would view this as a problem, especially as helping out in Honduras, a nation where over half of the population is affiliated with the Roman Catholic Church (Holland 1354). At a certainRead More US-Latin America Essay1400 Words Ã |Ã 6 Pagesconceded to the United States their right of any intervention in the Western Hemisphere and allowed the United States to do whatever they wanted. The United States took this newly bestowed power and abused it. The United States intervened in many Latin American countries and imposed their policies on to these countries against their will. A perfect example of this aggression is what occurred in the Dominican Republic in 1904. The United States intervened in this sovereign nation and took control of theirRead MoreDescribe Personal Attributes You Possess Or Life Experiences?91 3 Words Ã |Ã 4 Pagesunderstand patients with a culture different from your own. Please include your self-reflection on how this experience has changed your insights, beliefs, and/or values. (1000 characters) My life experiences with different cultures began in my hometown, when Prairie Island Tribal Council members educated students about their culture through lectures, dance, and band performances. This allowed me to appreciate my Mdewakanton classmatesÃ¢â¬â¢ culture. My exposure to different cultures expanded during an internshipRead MoreThe, The And, And The Network Of People And Experiences That Left Many Scars Essay1497 Words Ã |Ã 6 Pagesthroughout his life. Migration and Acculturation There were many circumstances of migration throughout EnriqueÃ¢â¬â¢s story, however, the most imperative one was when his mother Lourdes relocated to the states. Therefore, causing a separation that had a big impact on him. According to Falicov (2016), many immigrants similar to Lourdes belong to the trigenerational systems of care. Based on this system of care, mothers are able to care for their children through remittance and other forms of care (Falicov, 2016)Read MoreLatin American Immigration And The Growth Of The Latino And Hispanic Population Essay955 Words Ã |Ã 4 PagesCritical Response Latin American immigration to the United States and the growth of the latino and hispanic population is currently one of the most controversial topics being debated right now. What started as a small, regionally concentrated population of fewer 6 million in 1960, is now broadly scattered population of more than 50 million. Latino population keeps growing and exerting enormous impact on social, cultural, political, and economic aspects in the U.S. However, unlike what a lot of peopleRead MoreAncient And Culture : Guatemala, Mayan Time Period1491 Words Ã |Ã 6 PagesTikal Temple Country/Culture: Guatemala, Mayan Time Period: Early Classic to Late Classic - 300-850 CE. Temple Type: Mayan Civilization Description: Tikal is the ruins of an ancient city found in a rainforest in Guatemala. Cultural Context: The name Guatemala, signifying place that is known for timberlands, was gotten from one of the Mayan vernaculars talked by the indigenous individuals at the season of the Spanish triumph in 1523. It is utilized today by pariahs, and additionally by most subjects
What factors promoted the authority of the Capetian Kings of France in the Twelfth century? France in the eleventh century had been a fragmented land, divided into federal principalities, or mini-states ruled by princes or dukes. Though they recognized the King of FranceÃ¢â¬â¢s authority they did not expect him to exercise it in their individual territories. Feudalism increased the power of these mini-states in the twelfth century, and was the tool used by the Capetian Kings of France to advance their influence and wealth. Why and how the Capetian dynasty sought to establish and then successfully utilize this particular system will be the main focus of my essay. Feudal law was the customs and relations between lord and vassal in regards toÃ¢â¬ ¦show more contentÃ¢â¬ ¦This made way for another advance in solidifying royal power by helping to make the crown hereditary. The kingÃ¢â¬â¢s son was permitted to be crowned during his fatherÃ¢â¬â¢s lifetime in order to preserve the healing touch. The church gave the monarch a higher degree of moral credibility and in return the church gained more prestige. One therefore increased the standing of the other in medieval France. Louis VIÃ¢â¬â¢s chief minister and ecclesiastical advisor was Abbot Suger of St Denise. He held his prestigious office from 1122 to his death in 1155, during which time he recorded a history of his king, The Life of Louis the Fat. As a result of this great power he held in France, he was very much involved in French politics and Ã¢â¬Å"virtually ran the Kingdom while King Louis VI was away on crusade.Ã¢â¬ This aspect of SugerÃ¢â¬â¢s career would explain his proximity and involvement in the monarchÃ¢â¬â¢s progress in gaining a more prominent role in European affairs, and as a result of this proximity, why he was in a position to chronicle LouisÃ¢â¬â¢s life. He seems to play a significant role in promoting Capetian authority in how he portrays Louis as a most pious and worthy king to serve under. He states in the introduction of his biography that Ã¢â¬Å"with my pen I describe his devotion to the churchs worship of GodÃ¢â¬ and implores his contemporaries and readers not t o forget Louis VIÃ¢â¬â¢s Ã¢â¬Å"marvellous zeal for the good of theShow MoreRelatedA Brief Look at France1710 Words Ã |Ã 7 PagesII. Essay One The state which we today call France has undergone significant change since its origins as the territory of Gaul. Between the years 480 and 1780, this territory was reshaped in terms of both its physical boundaries and its inhabitants and rulers, creating a rich history of the nation of modern France. First, in order to analyze the evolution of the state of France, it is necessary to define the concept of the state. A Ã¢â¬ËstateÃ¢â¬â¢ is a territory, defined by physical or imagined boundariesRead MorePhilip Augustus s Success Of The Angevin s Failure1502 Words Ã |Ã 7 Pagesideological changes that had taken place in Capetian France, which were the real driving force behind Philip s success. JohnÃ¢â¬â¢s comparative weakness and poor leadership credentials made Capetian success even more likely, but did not make it inevitable. Philip had to harness the French economy and win the support of his nobility. He was so successful in these endeavors that he would have been a match for any 12th century European power. The strength of the Capetian economy was one of the most importantRead MoreThe Time Before The First Millennium1827 Words Ã |Ã 8 Pagesto defend Rome against invaders. The first dynasty of France after the fall of Rome was the Merovingian dynasty. Clovis was the first ruler of the dynasty and united Gaul and established Paris as the capital of his kingdom. Clovis died in the year 511 and divided his dominion equally between his four sons (in the Germanic custom of inheritance). Unfortunately the brothers quarreled among themselves until 558 when Chlotar became the sole king of the Franks. While the Merovingians wielded much powerRead MoreThe Kingdom Of England Versus Valois Capetians For Control Of The French Throne518 Words Ã |Ã 3 PagesWhy Did This Conflict Begin and Why Was It Fought? The Hundred Years War Was A Group Of Battles From 1337 Ã¢â¬â 1453. The Kingdom Of England Versus Valois Capetians For Control Of The French Throne. This War Has Been Divided Into Three Separate Phases: 1. The Edwardian Era War (1337 Ã¢â¬â 1360) 2. The Caroline War (1369 Ã¢â¬â 1389) 3. The Lancastrian War (1415 Ã¢â¬â 1453) It Was During This War That Saw The Burning Murder Of St Joan Of Arc. The Key Battles Of This Conflict. The War Of Two Peters WasRead MoreEssay about Chapter 11 Outline and Summary Ap European History917 Words Ã |Ã 4 PagesUpheaval 1. Noble Landlords and Peasants 2. Peasant Revolt in France 3. An English Peasant Revolt 4. Revolts in the Cities II. War and Political Instability A. Causes of the Hundred YearsÃ¢â¬â¢ War B. Conduct and Course of the War 1. Early Phases of the War 2. Renewal of War 3. Joan of Arc 4. End of the War C. Political Instability D. The Growth of EnglandÃ¢â¬â¢s Political Institutions E. The Problems of the French Kings F. The German Monarchy 1. Electoral Nature of the GermanRead MoreThe Middle Ages : A Time Of Despair, Disease, And Death961 Words Ã |Ã 4 Pagesbetween the king of England and the king of France after the Capetian monarchy crumbled. (Spielvogel 281) After the Hundred YearsÃ¢â¬â¢ War, Europe was put under a period of adversity in terms of their political stability. In England, Ã¢â¬Å"Parliament increased in prominenceÃ¢â¬ and even the king came to Ã¢â¬Å"rely on Parliament to levy new taxes.Ã¢â¬ (Spielvogel 285) The English monarch no longer had absolute power; he had a Ã¢â¬Å"commitment to levy no direct tax without ParliamentÃ¢â¬â¢s consent.Ã¢â¬ (Spielvogel 285) In France, absoluteRead MoreThe Hundred Years War1503 Words Ã |Ã 7 PagesThe Hundred Years War began in May, 1337. It was a series of wars in Europe. France and England had been old enemies. The war was started for many reasons. The first reason is that King Phillip VI tried to seize the English territories in the duchy of Aquitaine. England tried to take the French throne. The second reason is that because of their historical feudal orders, France and England broke away from one another (Allmand 7). The third reason was The Battle for Flanders. Flanders was theRead More The Late Middle Ages Essay960 Words Ã |Ã 4 Pagesbetween the king of England and the king of France after the Capetian monarchy crumbled. (Spielvogel 281) After the Hundred YearsÃ¢â¬â¢ War, Europe was put under a period of adversity in terms of their political stability. In England, Ã¢â¬Å"Parliament increased in prominenceÃ¢â¬ and even the king came to Ã¢â¬Å"rely on Parliament to levy new taxes.Ã¢â¬ (Spielvogel 285) The English monarch no longer had absolute power; he had a Ã¢â¬Å"commitment to levy no direct tax without ParliamentÃ¢â¬â¢s consent.Ã¢â¬ (Spielvogel 285) In France, absoluteRead MoreKing Philip Regime and Go vernment in Paris 1200 by John W. Baldwin1302 Words Ã |Ã 5 PagesKing Philip Regime and Government In the novel, Paris 1200 by John W. Baldwin, King Philip (Philip Augustus), was an important contributor to the growth of the French Monarchy. He was able to increase the Monarchy better then any other King before him. He defeated many enemies, sought to overtake the British crown and embarked on a third crusade. King Philip Augustus brought financial stability to the country and was very popular amongst his subjects. King Philip when assigned King had many goalsRead MoreThe Expansion Of The Roman Empire866 Words Ã |Ã 4 Pagesestablished himself as king of northern Germany. He campaigned in lands east of the Elbe River known as now eastern Germany, western Poland, and the Czech Republic. In appreciation of his aid in the church, Pope John XII proclaimed Otto emperor in 962 C.E. Emperors and popes argued over their conflicting interests in Italy and over the appointment of church officials. There were regional monarchies in France and England. When the last of Carolingians died, the lords of France elected a minor noble
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In the student syllabus the week one assignment asks students to describe the primary components of a strategic management process along with indicating why a strategic management process is necessary in a company. Students must also choose a company in which they find interesting to relate to the companyÃ¢â¬â¢s strategic process. Description of Primary Components The four basic elements of strategic management consist of environmental scanning, strategy formulation, strategy implementation, and evaluation, and control. According to Wheelen, and Hunger, (2010, p. 16), Ã¢â¬Å"environmental scanning is the monitoring, evaluating, and disseminating of information from the external and internal environments to key people within the corporation. Ã¢â¬ The easiest way to conduct environmental scanning is through SWOT analysis. Wheelen, and Hunger (2010, p. 17), state Ã¢â¬Å"strategy formulation is the development of long-range plans for the effective management of environmental opportunities and threats, in light of corporate strengths and weaknesses. However, with this a company will define their mission statement, their achievable objectives, develop strategies, and set their policy guidelines. We will write a custom essay sample on Strategic management paper or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page According to (Wheelen, Hunger, 2010, p. 21), Ã¢â¬Å"strategy implementation is a process by which strategies and policies are put into action through the development of programs, budgets, and procedures. Lower or middle class management are the employees who complete the implementation process. This is also known to many managers as operational planning. According to evaluation and control is a process in which corporate activities and performance results are monitored so that the actual performance can be compared with desired performance. Ã¢â¬ However, managers use this information to solve problems or make important decisions. Ã¢â¬Å"The companyÃ¢â¬â¢s past strategy to diversify its product offerings into Ã¢â¬Å"storage, printers, and televisions, had not worked as plannedÃ¢â¬ (Hunger Wheelen, 2010, p.23). Furthermore, when Dell uses evaluation and control, they are refocusing their companiesÃ¢â¬â¢ efforts to show a long-term success. By renewing their strategic process, Ã¢â¬Å"Dell is now focusing on expanding its market share in China through the use of research and retail centers in the countryÃ¢â¬ (2010, p. 1). In conclusion, the strategic management process allows companies to see what areas they are successful in and which areas they need to improve. Strategic Management Paper free essay sample Brief Description of the Company Pepsi-Cola Products Philippines Inc. is a company Mission Statement Analysis Mission: Ã¢â¬Å"We [Pepsi-Cola Products Philippines Inc. ] will continue to market a portfolio of international and home-grown branded quality products at prices that provide good value to our consumers in key Food Beverage categories. We are committed to expand the business and provide healthy financial returns to our shareholders, opportunities for growth and enrichment to our employees, business partners and the communities where we operate. Ã¢â¬ Analysis: Component Remark/Comment Customers Products/Services Markets Technology Concern for Survival, growth and profitability Philosophy Self-concept Concern for Public Image Concern for Employees PEST Analysis Political Economic Social Technological Industry Analysis: EFE Matrix Competitive Profile Matrix (CPM) Summary of Financial Ratio 0. Liquidity Ratio a. current b. quick 1. Leverage Ratio a. debt to total assets b. debt to equity c. long term debt to equity d. times-interest-earned 2. Activity Ratio a. inventory turnover b. We will write a custom essay sample on Strategic Management Paper or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page fixed assets turnover c. total assets turnover d. account receivable turnover e. average collection period 3. Profitability a. gross profit margin b. operating profit margin c. net profit margin d. return on total assets (ROA) e. return on stockholder equity (ROE) 4. Brief Assessment/Description of the Total Financial Condition of the Company SWOT Analysis Strengths Worldwide brand recognition Huge distribution network Strong market position Strong brand name/brand folio Strong growth capacity Weaknesses Cannot outdo Coca-Cola because of its stronger market positioning Cannot be differentiated from other products because the cola for instance, tastes the same with their other competitors Coca-Cola products are preferred over Pepsi-Cola mainly because competitor has established a stronger brand than Pepsi-Cola products. Opportunities Threats Internal Factor Analysis (IFE) TOWS Analysis External Opportunities (O) External Threats (T) Internal Strengths (S) SO (Maxi-Maxi Strategy) ST (Maxi-Mini Strategy) Internal Weakness (W) WO (Mini-Maxi Strategy) WT (Mini-Mini Strategy) Space Matrix Balanced Scorecard Strategy Map McKinsey 7S Analysis Porter 5 Forces Analysis