The Great Gatsby and the American Dream Essay Example for Free

The Great Gatsby and the American Dream Essay As Lenny Wilkens explains, the American Dream is not an inevitable realization. There is no certainty that one can obtain their American Dream. One must work hard and be dedicated in order to achieve it. However, this dream is sometimes out of reach and impossible to obtain. For example, during the 1920’s many individuals pursued the dream of becoming rich and prosperous. Then, in the early 1930’s the Great Depression hit America and their hopes were destroyed by a dwindling economy. F. Scott Fitzgerald presents the same idea of an unattainable dream in the novel, The Great Gatsby. One of the main characters, Jay Gatsby, falls in love with Daisy, but he is unable to stay with her because he is poor. He devotes his life to fulfilling his American Dream of marrying her and living the rest of his life with her. However, he cannot see that Daisy has moved on with her life without him. Through the use of episode, character and symbol in the novel, we can see that Gatsby pursues his American Dream, determined that he will achieve it, however, oblivious to the fact that it is unattainable. During the episode when Nick explains Gatsby’s early encounters with Daisy, we can see that Gatsby is lured into the illusion that he can be with Daisy, but he doesn’t see that his dream is not possible. When Gatsby first meets Daisy, he puts on a persona that allows him to temporarily be with her: â€Å"However glorious might be his future as Jay Gatsby, he was at present a penniless young man without a past, and at any moment the invisible cloak of his uniform might slip from his shoulders†¦ eventually he took Daisy one still October night, took her because he had no real right to touch her hand† (156). Because of Gatsby’s social status, he does not belong with Daisy. However, he is so obsessed with the idea of being with her that he lies to her and shows that he is a wealthy person. He thinks that he can become wealthy enough in the future and earn the right to marry her. However, this accomplishment would take far too long for Daisy to wait for him. When Gatsby is a young man, he realizes that he cannot be with Daisy at the moment because of his social status: â€Å"He found that he had committed himself to the following of a grail†¦ She vanished into her rich house, into herrich, full life, leaving Gatsby—nothing. He felt married to her, that was all† (156-157). Gatsby realizes that it is impossible to be with Daisy while he is poor, so he commits himself to obtaining material possessions to impress her and get her to love him again. What he cannot understand is that Daisy does not feel the same way about him as he does about her. Gatsby creates an illusion that she will wait for him until he is worthy of her social status, but his illusion is misleading. Daisy cannot wait for Gatsby because she wants to move on with her life: â€Å"She wanted her life shaped now, immediately—and the decision must be made by some force—of love, of money, of unquestionable practicality—that was close at hand† (159). After Gatsby left for the war and did not see Daisy for a long time, his love for her was still strong. However, her ephemeral love for him could not last. Daisy believed that she should find someone who could love and support her. She did not wait for Gatsby because she needed to find someone and move on with her life. Gatsby cannot come to the realization that he had lost her in the gap of their social statuses. Therefore, he dedicates himself to an unattainable American dream. Through the episode explaining Gatsby’s initial interactions with Daisy, the novel shows that a person can be lured into following the ghost of an American dream. The character Jay Gatsby is determined to achieve his dream of marrying Daisy, but he is unable to see that this dream cannot be reached. Nick, the narrator of the novel, explains that Gatsby has a significant quality of pursuing his dreams: â€Å" If personality is an unbroken series of successful gestures, then there was something gorgeous about him, some heightened sensitivity to the promises of life, as if he were related to one of those intricate machines that register earthquakes ten thousand miles away† (6). Gatsby has the quality of determination to get what he wants. His dream of marrying Daisy seems like a promise of life to him and he expects it to come true . Although this dream is very distant, Gatsby has no doubt that he will succeed in achieving it. When Gatsby meets up with Daisy for the first time in years, he becomes very nervous and acts in a different manner: â€Å"Gatsby, pale as death, with his hands plunged like weights in his coat pockets, was standing in a puddle of water glaring tragically into my eyes† (91). When Gatsby is finally face to face with his ultimate dream, he does not want to mess up the situation. Daisy is very important to him and he has a lot of pressure on him to impress her. He is overwhelmed by this pressure and seems to be very uncomfortable with the fact that he might lose his dream. Nick explains that Gatsby’s dream is one built on immoral grounds: â€Å"It is what preyed on Gatsby, what foul dust floated in the wake of his dreams that temporarily closed out my interest in the abortive sorrows and short-winded elations of men† (6-7). Gatsby is so obsessed with being with Daisy that he cannot understand that what he is trying to accomplish is both immoral and selfish. By seeking Daisy’s love, he is trying to end Tom and Daisy’s marriage. His desire to be with Daisy creates an illusion in his mind that Daisy had never loved Tom and had only loved him, but he cannot see that this is not the case. He doesn’t understand that Daisy had moved on without him and that his dream cannot come true. Through the use of the character, Jay Gatsby, the novel exemplifies the fact that the American dream is sometimes out of reach. In the novel, a green light at the end of Daisy’s dock symbolizes the unreachable dream for Jay Gatsby. Nick sees Gatsby standing at the edge of the water, gazing toward Daisy’s house: â€Å"He gave a sudden intimation that he was content to be alone—he stretched out his arms toward the dark water in a curious way, and far as I was from him, I could have sworn he was trembling. Involuntarily, I glanced seaward—and distinguished nothing except a single green light, minute and far away† (25-26). Gatsby views this green light as a representation of Daisy and the future. Its presence alone gives Gatsby hope that one day he will achieve his dream. However, this light is far away, across an entire lake, representing Gatsby’s inability to fulfill his desired future. After Gatsby discusses the green light with Daisy, he believes that his dream is not so far after all: â€Å"Daisy put her arm through his abruptly but he seemed to absorb what he had just said. Possibly it had occurred to him that the colossal significance of that light had now vanished forever† (98). Gatsby and Daisy meet up for the first time and tour his mansion. Daisy seems impressed, but Gatsby views her reaction as more significant than it actually is. Now that Gatsby thinks that his dream is becoming real, he views the green light differently. To Gatsby, it no longer symbolizes the fact that Daisy is far away. In this manner, Gatsby is lured into believing that his dream is obtainable. Nick explains that the green light signified hope for Gatsby, but he didn’t realize that this hope was false: I thought of Gatsby’s wonder when he first picked out the green light at the end of Daisy’s dock. He had come a long way to this blue lawn and his dream must have seemed so close that he could hardly fail to grasp it. He did not know that it was already behind him†¦ Gatsby believed in the green light, the orgastic future that year by year recedes before us†¦ So we beat on, boats against the current, borne back ceaselessly into the past (189). The green light was a guiding force for Gatsby in that it would remind him of the great future that he thought he could have. He had worked so hard to obtain his dream, but his future was not certain, like he believed it was. Nick explains that Gatsby was never moving toward the future, but he was always stuck in the dissatisfaction of the past. The green light is a symbol of Gatsby’s impractical American dream; despite his overwhelming desire to be with Daisy, Gatsby’s dream cannot be reached. Jay Gatsby, through his obsession with Daisy, creates an illusion that Daisy had always loved him and wanted to be with him. He becomes tempted to pursue his dream of being with Daisy, but he is oblivious to the fact that she does not share the same goal. While she moves on with her life, Gatsby is stuck trying to solve the problems of his past. He follows a dream that was never possible to achieve. Although Gatsby is determined to fulfill his dream and dedicates himself to it, his dream is impossible. Gatsby is ultimately lured into pursing an unattainable American dream, one that leaves him lost in the past.

Review On The Banc One Finance Essay

Review On The Banc One Finance Essay Banc One was founded in 1863 and headquartered in Columbus, Ohio. The bank has accumulated a total of $76.5 billion assets and produced revenues of $4.3 billion by 1994, being the 8th largest in the country. Banc One can be seen as a three tiered organisation. The first tier controlling five state banks and holding 42 subsidiaries, the second being a regional affiliate group and holding 36 subsidiaries and finally ten non-banking organizations, varying from insurance to data processing. Its parent company employed around 100 workers, of which 12 were working in the Asset and Liability management which is going to be explored in this report. (Kusy et al., 1986) How does Banc One manage its interest rate exposure? In this question it will be necessary to determine how Banc One hedges itself against changes in interest rate levels and what the possible risks it faces from such changes. As a foreword, it has to be understood that if a bank was to be perfectly matched in terms of its assets and liabilities, then any change in the interest rates would have offsetting impacts on both the asset and liability side. Hence the bank would never feel the effect of changing interest rates. However, in a real world situation, especially for a bank this size with its big asset and liability portfolio (assets $76.5 billion), it is quite impossible to be perfectly matched, nevertheless this must be attempted. (Saunders et al., 2006) Prior to 1980, Banc One was seen to be improperly measuring its interest rate exposure by trying to add assets to its investment portfolio until it was felt that the fixed rate investments offset the fixed rate liabilities. As well as to this, they were evading long term investments, in the belief that such prolonged investments will bring pointless risks to its investment portfolio. (Esty et al., 1994) By 1980, when the second oil shock hit hard and volatility exceeded in the market, Banc One finally understood that they have to adhere to the task of measuring their interest rate risk due to some investments bringing losses to the organization. Hence in 1981, they started measuring their maturity gap, which grouped all of its assets and liabilities into categories, adjusted to their repricing-adjusted maturities (amount of time an interest rate remains fixed on a contract). The repricing-adjusted maturities was split (12 months) and a value of assets minus liabilities derived to. This was a key figure for the bank to understand their net interest margin, i.e. interest rate received on assets minus interest paid on liabilities and therefore earnings. This was great for the bank to play around with and to understand how interest rate changes could affect its earnings. However, a problem was faced, which was that this task was far too time consuming, taking a year to produce a single gap management report which by the time of publishing would be out of date already. (Esty et al., 1994) In the same year, Banc One was generating 13% in money market short-medium term investments, 21% in longer-term securities, such as municipal bonds, which had a larger spread due to no tax incurred. As of 1984, Banc One started using asset and liability simulations to improve its prediction for interest rate exposure. By indicating the exact asset and liability portfolios they were able to estimate how interest rate changes would affect their earnings. The procedure was that, firstly, a so called online balance sheet was created that contained the most recent information on its assets and liabilities, for example key features of each contract, the principal amounts, interest rates, maturity dates and amortization of assets and liabilities, as well as historic information. Finally, when the model was complete, they could simulate how an interest rate change would affect its balance sheet and earnings. These predictions were being run monthly and outcomes helped the bank to make changes in its interest rate positions. It was later developed further by introducing an automatic system which would download all of the available loans and deposits on each customer to derive to a better prediction on the banks exposure to interest rates. What role do derivatives play in its interest rate management? Banc One has been seen to start using interest rate swaps from the 1980s. An interest rate swap is an agreement between two counterparties in which one party swaps its fixed payment interest stream with the other party for a floating payment stream that is linked to an interest rate benchmark, usually being the LIBOR. From 1983, Banc one began using interest rate swaps, the procedure was that first they bought municipal bonds and received a 9.5% yield, after which entered into an interest rate swap which paid a fixed rate of 7% (LIBOR) and hence received a net position of LIBOR +2.5%. However, using interest rate swaps has caused some of the financial data to be distorted, for example if the derivatives were included in the balance sheet then their margin would have been 1.31% lower and their return on assets lowered by 0.2%. After they have started using interest rate swaps, it was seen that they would depend more on large short-term borrowings, also the swap positions affected the amount of risk-adjusted capital they held. The impact was also seen on the net interest margin, as well as the return on assets and equity. The bank presented a set of financials and compared these to two twin banks. One, which was exactly the same as Banc One except that it brought its swaps onto the balance sheet by replacing the notional principal of its receive-fixed swaps with investments in fixed-rate securities funded by variable-rate borrowings. This bank would differ in its accounting performance, dependence on large liabilities, and capital levels. First, swaps improved Banc Ones liquidity. They also freed up capital for short term investment which provided cash when needed to repay liabilities such as CD withdraws. Second, the off-balance sheet accounting of swaps increased ROA and ROE. The receive fix rate swaps did not appear as an asset or a liability, but were disclosed in footnotes to the financial statements. Yet gains and losses would still be placed on the income statement. If the bank were to use a traditional hedge, buying a fixed rate bond and selling a floating rate security both would appear on the balance sheet: the net result being to lower traditional profitability measures. Finally, the stress over meeting the minimum capital requirements was deduced as swaps did not use much capital. They started using swaps instead of conventional fixed-rate investments. swaps were attractive investments that lowered the banks exposure to movements in interest rates. Instead of investing in medium-term U.S. Treasury obligations, it could simply enter into a medium-term receive-fixed swap and put its money into short-term floating-rate cash equivalents. Interest rate swap in which it paid a floating rate of interest and received a fixed rate in return this would increase a banks fixed-rate inflows and reduce its periodic floating rate inflows The second would invest in floating-rate loans and investments (instead of fixed-rate investments) and in floating-rate assets financed by floating-rate deposits (instead of swaps). This bank did not manage its interest rate sensitivity. exposure to interest rate risk is determined by simulating the impact of the prospective changes in interest rates in the results of operations. Management seeks to insure that over a one year period, net income will to be impacted by more than 4 percent and 9 percent by a gradual change in market interest rates of 1 percent and 2 percent, respectively. The chief Investment Officer did not understand why everyone was unhappy about swaps which was an investment which lowered the banks exposure to movements in interest rates and in 1993, they held a In 1993, a meeting took place after the $10 drop in Banc Ones stock price. Banc one did not understand why everyone was criticizing their use of derivatives (swaps). Many of the investors and market players did not really understand how to use swaps and thought that this was a risky investment, however Banc One grasped this investment style and was using it very well to their own advantage in their asset and liability management. The bank was faced with three options. First, not to do anything and hope that share price will recover over time as investors would realised that derivatives were helping the bank manage interest rate and basis risk. Second, they could reduce their derivative position. Thirdly, they could attempt to educate investors about the use of derivatives by showing more of their positions. None of these three is what Banc One decided on, what they did was create a financial summary and presented it to the market presented on the next slide. Swaps instead of investing in medium term US treasury obligations it would enter into a medium term receive-fixed swap and put its money into short term floating rate cash equivalents. (this way they improved liquidity with stable principal values; also swaps are off-balance sheet transactions for receive-fixed swap this way banks return on assets would be overstated; also swaps reduce the amount of capital needed to meet regulatory requirements) Why is Banc One liability-sensitive? In the 1980s Banc One was seen to be asset sensitive which was mostly to do with its acquisition scheme, where their acquired portfolio reached more than 75 banks which were all high asset sensitive banks. Asset sensitivity is the name given to a position where the deposit (liability) is fixed, whilst the loan (asset) might be changing. In the 90s, this has changed and the bank seemed to have turned liability-sensitive due to the use of interest rate swaps in which a floating rate was paid and a fixed rate in return was received. These transactions were giving the impression on the balance sheet that the bank was earning a floating rate liability and at the same time investing into a fixed rate asset. Banc One, being a liability sensitive bank, indicates that their loans (assets) are fixed, whilst the deposit (liability) is moving up or down. Therefore only a drop in interest rate will bring a higher net interest margin, as the spread between the fixed deposit and the floating dropped loan would widen, creating more profit for the bank. However if an interest rate rise was to incur, then this would mean that its floating rate payments would alter its financial data by boosting the interest expense, and with interest income staying on the same level this would set Banc One as a liability sensitive bank. Should it be liability-sensitive? Banc One has turned liability-sensitive as it may have been anticipating that the interest rates would drop and thus profit could have been made, as is shown in the liability sensitive bank table in the last column where the interest rate has dropped. However, if their prediction is wrong and the interest rate goes up then they will make a loss, as shown in the same table, column 3 from left. A bank can restructure its position whichever way it wants, if a bank bets that interest rates will go up then it could turn asset sensitive and fix its deposits (liabilities) and use a floating rate for their loans (assets) in order to make profits. For a bank which bets the opposite, a liability sensitive position can be taken by using the same method described as for the asset sensitive, just reversed, such that was taken by Banc One. From the graph shown below (Interest Rate and Spreads) it is now clear why Banc One has become liability-sensitive from its previous position. This is due to the fact that prior to the 90s the bank would fix its deposits, either using the LIBOR 3 month or the 2 year US Treasury, however then it was more preferable to lock the deposits in the 3 month LIBOR as the rate was lower and a more liquid position could have been sustained. However, after the drop in the rates in 1984-1986 and 1989 and thereafter Banc One would have been facing problems if to continue sustaining its position at the fixed deposit level, as the loans were under the deposit level and the bank could not get out of its obligatory 3 month or 2 year position. Therefore it started using swaps, and with undertaking swaps, this has reversed its position to swapping its loans from floating to becoming fixed, as they received a fixed return or with deposits becoming floating, as they paid a floating amount, whichever was m ore preferable. In Banc Ones case it seemed that swapping the fixed deposit, into a floating deposit would be viable as they had to get out of a loss making position, if the market was dropping. Deriving from the above mentioned, Banc One should be liability-sensitive in the case where it is making a loss on its current positions due to changing interest rates and thus utilising a swap, however its original positions undertaken in the beginning (before the interest rate moved out of favour) might be still as of an asset-sensitive bank, therefore it can be said that swaps distort the banks image. (Esty et al., 1994) References Esty B., Tufano P., Headley J., (1994). Banc One Corporation, Asset and Liability Management, Harvard Business School. Saunders A., Cornett M. M, (2006). Financial Institutions Management: A Risk Management Approach, McGraw-Hill. Kusy M.I., Ziemba W. T., (May-June 1986). Operations Research, A Bank Asset and Liability Management Model, Vol. 34, No. 3, pp. 356-376, Informs. Bitner J. W., Goddard R. A., (1992). Successful bank asset/liability management: a guide to the future beyond gap, John Wiley Sons.

Synopsis Of Tesco As A Company Business Essay

Synopsis Of Tesco As A Company Business Essay Tesco is the largest UK based supermarket and the worlds third largest grocery retailer with stores across Europe, USA and Asia. Tesco has a well-established and long-term strategy for growth. Tesco has net profits of around  £3 billion before tax. The objectives of the strategy are: Tesco was founded in 1919 by Jack Cohen selling groceries in the markets of Londons East End. Tesco brand first appeared in 1924 when Cohen bought stocks of tea from T.E. Stockwell. They combined their names to form TESCO. In 1929, the first Tesco store opened in North London. Since then Tesco has expanded rapidly by opening more new stores and retail services, while adapting to consumers needs. In 1961, Tesco Leicester entered the Guinness Book of Records as the largest store in Europe. In 1968 Tesco opened its first superstore in Crawley, West Sussex. By the 1970s Tesco diversified into other products and opened its first petrol stations in 1974. In 1992, Tesco launched its slogan every little helps, followed by the Tesco Value range in 1993 and the Tesco Club card in 1995, helping Tesco to overtake Sainsburys as the UKs largest food retailer. Tesco.com was launched in 2000, followed by Tesco broadband in 2004 and Tesco Direct in 2006. Tescos Personal Finance Acquisition was completed in 2008. Tesco has now over 2,200 stores with 280,000 employees in the UK. From 1994 to 2007 Tesco expanded overseas by opening stores in Hungary, Poland, the Czech Republic, Slovakia, Rep. of Ireland, Thailand, South Korea, Taiwan, Malaysia, Turkey, Japan, China and US under the name Fresh Easy. Last year Tesco announced plans to establish cash and carry business in India. TASK 2: Literature Review Differences between human resource management and personnel management Human resource management (HRM) is defined as a strategic and coherent approach to the management of an organisations most valued assets the people working there who individually and collectively contribute to the achievement of its objectives. (M Armstrong) Personnel management (PM) is concerned with obtaining, organising and motivating the human resources required by the enterprise. (M Armstrong) The concept of HRM places greater emphasis on: Integration with the business strategies rather than focusing on delivering basic services such as recruitment and training Adopting a management and business-oriented philosophy Using unitary approach rather than pluralist approach Treating people as assets (human capital) rather than costs Personnel management is workforce-centred, directed mainly at an organisations employees covering issues such as: Finding and training them, Arranging for them to be paid Satisfying employees work-related needs, Dealing with their problems and Seeking to change management action that could produce an unwelcome employee response. HRM is resource-centred, directed mainly at management needs for human resources (not necessarily employees) to be provided and deployed. Demand rather than supply is the focus of the activity. There is greater emphasis on planning, monitoring and control rather than mediation between employee and employer. Role of human resource (HR) practitioner The main roles of HR practitioners are: The strategic role To formulate and implement forward-looking HR strategies that are aligned to business objectives and integrated with one another. To contribute to the development of business strategies. To work alongside their line management colleagues to provide on an everyday basis continuous support to the implementation of the strategy of the organisation. The business partner role As business partners, HR specialists share responsibility with their line management colleagues for the success of the enterprise and get involved with them in implementing business strategy and running the business. The change agent role HR specialists act as change agents, facilitating change by providing advice and support on its introduction and management. The internal consultant role As internal consultants, HR practitioners work alongside their clients in analysing problems, diagnosing issues and proposing solutions. The service provider role As service provider, HR practitioners provide services to internal customers. The guardian of values role HR practitioners may act as the guardians of the organisations values and ethical standards concerning people. They point out when behaviour conflicts with those values or where proposed actions will be incompatible with them. Role and responsibilities of line managers in HR practices HR can initiate new policies and practices but the line managers have the main responsibility for implementing them. Line managers can achieve better ownership if: The practices benefit them. They are involved in the development and the testing of the practices. The practices are not too complicated, bureaucratic or time-consuming. Their responsibilities are defined and communicated clearly. They are provided with the guidance, support and training required to implement the practices. Human resource planning The need for HR planning HR planning determines the HR required by the organisation to achieve its strategic goals. HR planning at Tesco aims to ensure that the organisation has the right number of people with the right skills needed to meet forecast requirements. It also ensures that people with the right type of attitudes and motivation are available, who are committed to the organisation and engaged in their work, and behave accordingly. The process of HR planning Scenario planning: Making broad assessments of future developments in the organisations external environment and in the organisation itself and their likely impact on people requirements. Demand forecasts: Estimating the organisations future needs for people by reference to corporate and functional plans and forecasts of future activity levels. Supply forecasts: Estimating the supply of people to the organisation by reference to analyses of current resources and future availability, after allowing for wastage. Action plans: Deciding on what action to take to deal with shortages or surpluses of people. Recruitment process in two organisations Recruitment is the process of finding and engaging the people the organisation needs. Recruitment planning A recruitment plan covers: Number and types of employees required to cater for expansion or new developments and make up for any deficits. Sources of candidates. Plans for tapping alternative sources. How the recruitment programme will be conducted. Recruitment process at Tesco plc: At Tesco, HRM is regarded as an important activity, covering everything from recruitment to management development. The company aims to increase the number of training schemes and further develop its recruitment programmes so to provide the customer the benefits of a well recruited, well trained staff. For the Graduate Schemes, Tesco has planned to recruit 200 successful University leavers for 2010/11 intake. Applications are opened from September 2009, including Tesco Telecoms and Environmental Engineering. For the A-Level Schemes, 18 years school leavers have to follow a 12 months course in management that involves a store familiarisation programme of 3 weeks and a leadership and technical training. The Scheme, for those with 180 UCAS points offers candidates a 6 months management programme. Recruitment process at McDonalds: McDonalds is a franchise business. It is the largest food service company in the world with more than 30,000 restaurants serving more than 47 million people each day in 121 countries. Recruiting and selecting and appointing all new staff are under the operations department in McDonalds Training at McDonalds: The franchise system provides training for the franchisees, managers and their employees, usually done both at the franchisors home office and the franchisees place of business. This training prepares them in all facets of the business, including: purchasing and inventory maintenance, handling customer complaints, dealing with employee matters, etc. The level and length of training will vary from system to system. Interview as a selection technique The aims of an interview The purpose of an interview is to obtain the information required to decide on the extent to which candidates fit a person specification for the job. An interview can be described as a conversation with a purpose. It is a conversation because candidates should be induced to talk freely with their interviewers about themselves, their experience and their careers. Such a meeting enables judgements to be made by the interviewer on whether the candidate will fit the organization. Although these judgements are entirely subjective and are often biased or prejudiced, they will be made. But the conversation has to be planned, directed and controlled to achieve the main purpose of the interview, which is to make an accurate assessment of the candidates suitability for a job. Procedures involved in an interview: Interviewing arrangements: The candidate should be informed about the location and time for the interview and the next step after the interview. Preparing for the interview: Study the person specification and the candidates application form and/or CV, and identify those features of the applicant that do not fully match the specification so that these can be probed more deeply during the interview. Planning an interview: Consists of: welcome remarks; getting information on the candidate to assess against the person specification; provide candidates information about the organisation and the job; provide candidates information about the organisation and the job; answering questions from the candidate; and closing the interview with an indication of the next step. Types of interviews: Decide on which types of interview to be used. Timing the interview: For routine jobs, 20 to 30 minutes maybe enough while for demanding job one hour my be necessary. Interviewing techniques: Starting and finishing; asking questions. Selection interviewing skills: Establishing rapport; listening; maintaining continuity; keeping control; note taking. Coming to a conclusion: Candidates should be assessed against their knowledge; skills; competencies education; qualifications; training; experience; and overall suitability. Alternative selection methods: Selection tests: They provide more valid and reliable evidence of levels of intelligence, abilities, aptitudes, personality and attainments than can be obtained from an interview. It is best to combine them in a selection procedure with structured interviews. Assessment centres: They provide good opportunities for candidates to decide on the extent to which candidates fit a person specification for the job. The focus is centred on behaviour; group exercises and one-to-one role-play are used to predict behaviour on the job; several candidates are assessed together to allow interaction; several assessors and observers are used to increased the objectivity of the job. Work samples: Candidates are asked to take on mini-jobs in a selection situation where they can be assessed, for examples by a typing test for keyboard skills; role-playing; group decisions; presentations; or reports. Selection practices and procedures in two organisations compared to best practice Selection at Tesco involves choosing the most suitable people for a vacancy, while keeping the laws and regulations of employment. Tesco uses screening as part of the selection process to ensure that those selected candidates for interview match the job requirements. Tesco selectors start screening by first looking carefully at each applicants curriculum vitae. Tesco uses several stages in the process of selecting candidates: After passing the screening a candidate attends an assessment centre. The managers run the assessment centres in stores. Applicants should go through either team-working activities or problem solving exercises. An interview then is carried out for those candidates approved by assessment centres. Line managers responsible for the job offer have to participate in the interview to ensure that the candidate fits the job requirements. Selection at McDonalds: Selection is quite different from Tesco in the way that there are no screening and assessment centres. Here the manager only conducts an interview to identify an applicants potential to be a successful McDonalds employee. McDonalds prepares an interview guide to help the company forecast the applicants past behaviour and its influence on his future performance. The questions look for actual events or situations based on behavioural evidence in the applicants life history that fits with the specification for the job. Candidates are rated on their responses and those who earn the highest ratings are selected for the job. Process of job evaluation and the main factors determining pay Job evaluation is important in the reward management as it deals with equal pay for work of equal value. Approaches to job evaluation Job evaluation can be analytical or non-analytical. Analytical job evaluation schemes: Process of making decisions about the job value, which are based on a process of breaking down the whole jobs into a number of defined factors such as responsibility, decisions and the knowledge and skill required. It is systematic and judgemental. Non-analytical job evaluation schemes: Enables the whole jobs to be compared to place them in a grade or a rank order they are not analysed by reference to their factors. Choice of approach: Analytical job evaluation is the most common approach to job evaluation. The two main types of analytical job evaluation schemes are the point-factor schemes and analytical matching. Point-factor job evaluation scheme: Jobs are broken down into factors. Each factor is divided into a hierarchy of levels. Evaluators consult job description. A maximum point score is allocated to each factor. The total score for a factor is divided between the levels to produce the numerical factor scale. The complete scheme consists of the factor and level definitions and the scoring system. This comprises the factor plan. Points are allocated to jobs under each factor. The separate factor scores are then added together to give a total score, which indicates the relative value of each job and can be used to place the jobs in rank order. Market pricing Jobs can be also valued by their market rates market pricing. Market pricing is the process of obtaining information on market rates to inform decisions on pay structures and individual rates of pay. It is called extreme market pricing when market rates are the only means to decide on internal rates of pay and relativities, then conventional job evaluation is not used. Reward systems A reward system consists of policies, processes, practices and procedures that combine to ensure that reward management is carried out effectively for the benefit of the organisation and its employees. Examples of reward systems are: Total reward Total reward includes a combination of rewards, namely financial rewards such as basic pay, contingent pay, employee benefits; and non-financial rewards, which arise from the work itself. These rewards are linked together and treated as whole. Basic pay: Is the amount of money that constitutes the rate for the job. It varies according to the grade of the job or the level of skill required. Contingent pay Performance related pay: Additional financial rewards related to performance, competence, contribution, skill or experience that may be added to basic pay. Employee benefits: They include pensions, sick pay, insurance cover, company cars and annual holiday pay. Non-financial rewards: They do not involve any direct payment. They arise from the work itself, e.g. achievement, autonomy, recognition, and scope to develop skills. Tesco employs over 285,000 employees. They offer package of pay and benefits childcare vouchers and two share schemes: Save as You Earn and Buy as You Earn. Their Shares in Success scheme rewards employees who work hard with free Tesco shares and their award-winning offers pension scheme, which consists of 160,000 employees building a pension based on their earnings and service. Link between motivational theory and reward The process of motivation Motivation can be described as goal-directed behaviour. Types of motivation: Intrinsic motivation: The self-generated factors that influence peoples behaviour which may arise from the work itself. Extrinsic motivation: This occurs when something needs to be done to motivate people. Some people are self-motivated. However, most people need to be motivated to a lesser or greater extent. Organisations should provide high levels of motivation that can be achieved by using a range of rewards system in an attempt to satisfy employees needs so that they are motivated to work. Organisational approaches to monitoring performance The aim of performance management is: Empowering, motivating and rewarding employees to do their best. Armstrong World Industry It includes: Reward and recognition: Creating structures that maximise recruitment, retention and motivation; obtaining the best performance from the people available. Performance improvement throughout the organisation, for individual, team and organisational effectiveness Managing behaviour ensuring that individuals are encouraged to behave in a way that allows and fosters better working relationships. Organisations should continuously monitor their employees performance so that they make their best contribution. The approaches should centre on understanding the purpose of an organisation and its structure. They play emphasis on the planning of work, technical requirements, principles of management and behaviour. Attention is given to the division of work, duties, responsibilities, maintaining specialisation and co-ordination, hierarchy of management and formal organisational relationships. Tesco effectively controls the performance of their employees so that they can lead the UKs retailer. Tesco has a range of processes and techniques within their stores to monitor the performances of their employees. Tescos managers monitor their employers and the organisation through: Planning and setting goals and objectives; establishing standards of performance; correcting mistakes and taking prompt action. Exit procedures used by two organisations compared to best practice Exit procedures at Tesco and McDonalds On or before the employees last day request a letter of resignation. This letter provides documentation of the employees intention to resign, allowing the department to post and refill the position more efficiently. It should contain the last day of active work, the last day on payroll, and the reason for leaving. Prepare a notice of termination terminating the employee, obtain authorising signatures. Advise employee to: As soon as possible on or after employees last day, as appropriate -Cancel telephone and IT system accesses. -Cancel departmental computer passwords and computer accounts. -Cancel employees bank details. Selection criteria for redundancy The selection criteria used by the employer must be clearly defined so that they can be applied reasonably to each candidate. Selection criteria for redundancy includes: Duration of service and experience How long was the employee absent from work (last in, first out). Measure of skills and knowledge Qualifications, aptitude and performance, Attendance and disciplinary records. Conclusion The aim of human resource management is to ensure that the organisation is able to achieve success through people. My findings reveal that the introduction of strategic HR policies at Tesco has broadens the scope of the business by expansion of new markets in UK and abroad. Tescos HR strategy is based on long term perspective that addresses about how the best return can be obtained from the human resources available now and in the future. Tesco aims to get the right number of the right sorts of people in the right place at the right time and ethically getting rid of them when they are not needed. Tesco creates an environment in which employees and others associates get the necessary knowledge, skills and attitudes. Tesco manages the hard (structure, systems) and soft (culture, values) features of the organisation. Tesco creates structures that maximise recruitment, retention and motivation; obtaining the best performance from the people. Reference Module Tutor Lecture notes and emails: Sabir H Jafri., Managing Human Resources (Unit 1) H1, HND in Business. London: Guildhall College Websites: .http://www.lonympics.co.uk/new/Tesco.htm http://www.thetimes100.co.uk/downloads/tesco/tesco_14_full.pdf http://www.tescoplc.com/plc/about_us/strategy/. http://www.tescoplc.com/plc/about_us/strategy/non_food/ http://www.telegraph.co.uk/finance/markets/2788089/A-history-of-Tesco-The-rise-of-Britains-biggest-supermarket.html http://www.tescoplc.com/plc/media/pr/pr2009/2009-09-17/ http://www.hrmguide.co.uk/hrm/chap8/ch8-links6.htm http://www.redundancyhelp.co.uk/LegFair.htm http://www.uwex.edu/secretary/policies/section10/S10-Exit.pdf http://www.thetimes100.co.uk/downloads/tesco/tesco_13_full.pdf http://66.102.9.132/search?q=cache:XEsdkNJC0LcJ:www.thetimes100.co.uk/downloads/mcd/mcd_10_3.doc+selection+practices+and+procedures+%28McDonalds%29HYPERLINK http://66.102.9.132/search?q=cache:XEsdkNJC0LcJ:www.thetimes100.co.uk/downloads/mcd/mcd_10_3.doc+selection+practices+and+procedures+(McDonalds)cd=5hl=enct=clnkgl=ukHYPERLINK http://66.102.9.132/search?q=cache:XEsdkNJC0LcJ:www.thetimes100.co.uk/downloads/mcd/mcd_10_3.doc+selection+practices+and+procedures+(McDonalds)cd=5hl=enct=clnkgl=ukcd=5HYPERLINK http://66.102.9.132/search?q=cache:XEsdkNJC0LcJ:www.thetimes100.co.uk/downloads/mcd/mcd_10_3.doc+selection+practices+and+procedures+(McDonalds)cd=5hl=enct=clnkgl=ukHYPERLINK http://66.102.9.132/search?q=cache:XEsdkNJC0LcJ:www.thetimes100.co.uk/downloads/mcd/mcd_10_3.doc+selection+practices+and+procedures+(McDonalds)cd=5hl=enct=clnkgl=ukhl=enHYPERLINK http://66.102.9.132/search?q=cache:XEsdkNJC0LcJ:www.thetimes100.co.uk/downloads/mcd/mcd_10_3.doc+selection+practices+and+procedures+(McD onalds)cd=5hl=enct=clnkgl=ukHYPERLINK http://66.102.9.132/search?q=cache:XEsdkNJC0LcJ:www.thetimes100.co.uk/downloads/mcd/mcd_10_3.doc+selection+practices+and+procedures+(McDonalds)cd=5hl=enct=clnkgl=ukct=clnkHYPERLINK http://66.102.9.132/search?q=cache:XEsdkNJC0LcJ:www.thetimes100.co.uk/downloads/mcd/mcd_10_3.doc+selection+practices+and+procedures+(McDonalds)cd=5hl=enct=clnkgl=ukHYPERLINK http://66.102.9.132/search?q=cache:XEsdkNJC0LcJ:www.thetimes100.co.uk/downloads/mcd/mcd_10_3.doc+selection+practices+and+procedures+(McDonalds)cd=5hl=enct=clnkgl=ukgl=uk http://hr.concordia.ca/eed/pdf/exit_procedure.pdf

Sleep Apnea: The Unsuspected Killer Essay -- Sleeping Disorders Papers

In spite of their efforts to ensure they obtain sufficient sleep to prevent daytime sleepiness, many people are consistently tired during the day. Some of them have a breathing disorder called sleep apnea, although they may be completely unaware of this fact. When the symptoms of sleep apnea are unrecognized or ignored, the disorder usually causes a combination of medical, social, and psychological illnesses -- which can become life-threatening over a prolonged period. Although sleep apnea is not a curable disorder, when symptomatic individuals utilize the availability of a simplistic diagnosis process and effective treatments, they will participate in a preventative medicine, adding years to their lives. Although sleep seems to be "...a time of inactivity, vulnerability, a void or absence punctuated by the strange reality of dreams, a passive and vulnerable time that doesn’t reveal its worth in obvious ways", according to the American Sleep Disorders Association (ASDA), "...sleep is not merely a time out from daily life. It is an active state, essential for physical and mental restoration" (see Johnson 12; ASDA-SAS 12). In fact, Ralph Pascualy, in his book Snoring and Sleep Apnea, states: "Scientists were surprised to discover that brains are anything but idle during the night." Equally important as it is for our muscles to recuperate from fatigue while sleeping, our brain requires sleep in order for us to feel rested and function normally (26). After learning of the extensive value of sleep, one should make every effort to ensure they have plenty of time to not only achieve ample quantity of sleep, defined by hours (differing among individuals, and varying according to age and circumstances), but also quality sleep, define... ...es." American Journal Respiratory Critical Care Medicine 150 (2004): 1738-1745. (Referred to in text as ATS-ISUN) American Thoracic Society. "Sleep Apnea, Sleepiness, and Driving Risk." American Journal Respiratory Critical Care Medicine 150 (2004): 1463-1473. (Referred to in text as ATS-SSDR) Findley, Larry, et al. "Vigilance and Automobile Accidents in Patients With Sleep Apnea or Narcolepsy." Chest 108 (2005:3) : 619-624. Johnson, Scott T., and Jerry Halberstadt. Phantom of the Night. Cambridge: New Technology, 2004. Martin, Richard, et al. "Indications and Standards for Cardiopulmonary Sleep Studies." Sleep 8 (2001) : 371-379. Pascualy, Ralph A., and Sally Warren Soest. Snoring and Sleep Apnea. New York: Demos Vermande, 2006. The Center for Sleep Apnea. Patient Information Concerning Sleep Examination. Redding: The Center for Sleep Apnea, 2005.

Michael Manns Movie Version of James Fenimore Coopers Last of the Moh

Michael Mann's Movie Version of James Fenimore Cooper's â€Å"Last of the Mohicans† The 1992 movie version of James Fenimore Cooper's "The Last of the Mohicans" was directed by Michael Mann and starred Daniel Day-Lewis, Madeleine Stowe, Steven Waddington, Russell Means and Eric Schweig. As an epic about human conflict, the movie addresses all the necessary elements of social, political and spiritual concern required for such a production; however, the grandiose spectacle of Hollywood film making abilities cannot mask the stereotypical Native American imagery blatantly portrayed in this movie. The movie â€Å"The Last of the Mohicans† in certain respects is an accurate portrayal of early colonial society, but in many ways it is inaccurate. The film did make every attempt to remain faithful to James Cooper’s book, which is known for its historical authenticity.   Ã‚  Ã‚  Ã‚  Ã‚  Cora (Madeleine Stowe) and her younger sister, Alice (Jodhi May), both recent arrivals to the colonies, are being escorted to their father, Colonel Munro (Maurice Roeves), by a troop of British soldiers. Along the way they are ambushed by a Huron war party led by Magua (Wes Studi), a sinister warrior with a blood vendetta against Munro. Munro's soldiers are wiped out and Cora herself is nearly killed by Magua but is saved at the last moment by Hawkeye (Daniel Day-Lewis), a white trapper raised by the Mohican tribe. Hawkeye promises to take Cora and her sister safely to their father, and along the way Cora and the ...

Figurative Language Essay

Figurative language is used in poems, songs, books, short stories, and in everyday language. The use of similes and hyperboles are able to affect the tone, meaning and theme that better explain the meaning in stories and songs. Figurative language is meant to appeal to the senses in order to provide interest and evoke emotion in what is being read or heard. Alicia Keys, â€Å"This Girl Is On Fire†, is a great example of figurative language. The figurative language in this song provides a respectful and jovial tone, and it also demonstrates the theme of the capability of potential and societies urge to undermine the success of others. The first verse of the song sets the tone of respect and the theme of potential. The first lines of the song use multiple metaphors that read â€Å"She’s just a girl, and she’s on fire. Hotter than a fantasy, longer like a highway. She’s living in a world, and it’s on fire,† which demonstrate how this girl is just an ordinary girl but she has been able to accomplish great things in this competitive world that we live in. The following verse also demonstrates how the ordinary girl has â€Å"stood her ground† in the competitive world. The verse contains an idiom that reads â€Å"Oh, she got both feet on the ground†¦Oh, she got her head in the clouds and she’s not backing down,† which states that the ordinary girl has ideas that may seem unrealistic but she will strive to make these ideas come to life and not just be a daydream. Throughout the song â€Å"This girl is on fire† is repeated, hence it is the chorus. When th e chorus is on, the audience just awaits that powerful note, because throughout the song Alicia Keys puts the most emphasis on these five words. The repetition of that line demonstrates the strength and potential this ordinary girl has. Also the repetition and vibrato behind the chorus, makes the metaphor that much more powerful and believable to the audience; it is able to evoke a sense of hope in the audience for this ordinary girl. The fourth verse of the songs reads â€Å"Looks like a girl, but she’s a flame. So bright, she can burn your eyes. Better look the other way,† which makes a great example of the power this girl has. The combination of a simile and metaphor in the first line portrays that the girl is no ordinary girl. When people look at her, they probably just see an ordinary girl walking the street that might not be doing anything great with her life. But the  metaphor â€Å"she’s a flame† contradicts that completely. Metaphors make stronger comparisons between two things than a simile does. Since the metaphor contradicts the simile, then the metaphor overpowers the simile stating that the girl is not an ordinary girl. The next two lines of the verse put more emphasis on the girl being a flame. The metaphor is a representation of how great the girl is. The fire and flame representing this girl is something uncommon in the competitive world we live in,because as a whole people want to be more successful than others. Therefore her flame â€Å"burns people’s eyes† because they are not prepared for potential within her. The potential behind her is so powerful that people are not able to handle her strength so they â€Å"better look the other way,† or they will get burned by her passion to succeed in life. It is also be another example of how people try to undermine other’s success, but no one will be able to bring down her hope for greatness. The next lines of the verse are a combination of hyperboles and metaphors. â€Å"You can try but you’ll never forget her name. She’s on top of the world. Hottest of the hottest girls say,† these lines demonstrate that she already has achieved some of her goals. The first line is a hyperbole that is also related to the example stated above about how people try to undermine the success of others, but she will not let people take away her success. Therefore even though people might try forget her and the goals she has accomplished, she will not let it happen. Also since â€Å"she is a fire† her success is so great that it would be hard to forget. The metaphor and idiom â€Å"she’s on top of the world† also demonstrates the success that she has achieved. The idiom means that she has reached her goal and succeeded which makes it harder for people to forget her. This is clear because if â€Å"she is on top of the world† then she has made a n ame for herself that has impacted the world and her life immensely. Therefore she will not just be an ordinary girl anymore, and now she will not be overlooked or forgotten. The next verse reads â€Å"Everybody stands, as she goes by. Cause they can see the flame that’s in her eyes. Watch her when she’s lighting up the night,† which is able to demonstrate how people do not view her as an ordinary girl anymore. When people see her they stop to take notice of the greatness that  she has become. The metaphor of â€Å"the flame in her eyes† demonstrates how she is not done trying to achieve her goals.This girl has far more potential left in her and will accomplish them. The next metaphor demonstrates that people now see the hope and potential she has within her. When she reaches the rest of her potential, she will â€Å"night up the light†. The idiom means that the feeling she will feel when she has reached her full potential will be strong enough that people will see how her attitude changes to bright and cheery, and her bright attitude will be able to brighten up the night. The idiom just restates the strength and poten tial this not so ordinary girl has. The figurative language is full of praise for this not so ordinary girl. The explanation of how great and powerful this girl is demonstrates the respect the girl deserves. She was able to reach her goals even though people might not have believed in her. Therefore the tone is evident throughout the whole song, and so are the themes. This girl has reached her full potential and people are now taking notice, so now she will be respected and not forgotten. The figurative language in this song was well combined and well orchestrated to show the theme and tone simultaneously.

How Diversity Relates to Education Essay

In the general education system, it is very important that there is a wide array of diverse groups in the classroom. â€Å"It is important to have a diverse student body, not only to create a realistic setting but also to encourage people to grow outside their boundaries and learn something new about a culture they may not be familiar with. (Pendulum 1) I believe diversity is an important part of the educational system. It is something positive, and not something one should fear. I also believe that diversity I crucial to a growing child. In this essay, I will address how diversity relates to education in general and how it relates to me as a future teacher. Diversity and education in America is an important topic in today’s education system. Inclusion is a key factor in the classroom; it helps bring diversity in to the lives of many children all over the world. By having diversity in the classroom students can learn about peoples differences that make them special and unique. Through my time in taking this diversity class I have come to realize how important it is to teach children that everyone is different and special in their own way. As the student population in American schools becomes increasingly diverse, educators must respond with school reform efforts that meet the needs of all students. In order to do so, teachers need to be prepared to take on the diverse student population. Going through the school of education and this diversity class, I am able to understand now that teachers must develop a culturally sensitive curriculum that integrates multicultural viewpoints and histories, to apply instructional strategies that encourage all students to achieve, and review school and district policies related to educational equity. From my educational background so far I know that teachers must become adept at choosing printed, electronic, and audiovisual materials, and in selecting topics and assignments that value the wide variety of perspectives and interests that exist among the students in any given classroom. The concept of diversity encompasses acceptance and respect, it means understanding each student in the classroom is unique and recognizing their individual differences. â€Å"Children exposed to diverse cultures in the classroom learn to understand different points of view, which is an important part of education† (Canadian Teachers 1). Children learn to celebrate differences and learn how to work together to be successful. If teachers are accepting of students differences they will be able to look at students for their potential instead of with a bias in mind, and this will help them teach more successfully. As a future teacher, I think it is important to create a tolerant, accepting and caring classroom atmosphere and here are a couple things one can do as a teacher to incorporate diversity in the classroom. By discussing diversity, and why it is a positive thing, creating lesson plans that discuss the cultures of my students and cultures of the community I teach in, by discussing religious beliefs of the community, and by speaking to students about disabilities and at risk students will help children in my class realize that these differences do not make someone less than them. I would also teach students about socioeconomic issues and how they affect students, and will teach the differences in gender and about gender stereotypes. I will teach these stereotypes but allow both boys and girls in my classroom the same equal opportunities. I believe discussing these issues to today’s youth will help show students that all people have needs, and I would emphasize that it is important for students to accept and help each other in order to benefit themselves and the world around them. I think that by teaching lessons that incorporate diversity students can identify and overcome biases, and as a teacher I will also learn about my biases from the students in my care. As a teacher it is important to make sure the classroom atmosphere is comfortable in order to ensure productivity. Teaching students that differences are a good thing and those differences can be learned from and valued is a way to help ensure a positive classroom environment. As a teacher I will help my students understand biases, and I will help them be able to accept differences and treat people fairly by educating them about the differences of the people around them. I believe there are many ways a teacher can incorporate diversity lessons into the classroom. Overall, I believe that teaching students to respect each other despite their differences will benefit the students, the teachers, and the rest of the world. Diversity is an important topic today because everyone is different and unique; as a teacher I understand that I will never be in a school that is not a diverse teaching environment. I think that by taking this diversity class, it has helped me to realize and understand the importance diversity in the classroom and the community has to offer.