Modern Technology Essay

Information technology is playing an increasingly important role in the work and personal lives of citizens. Computers, communications, digital information, software – the constituents of the information age – are everywhere. There is though, a considerable number of people that are really concerned about the changes that modern technology implies, stating that it embodies potential risks to social values, freedoms, and relationships and this is what Sherri Turkle also states in her Forbes magazine article ‘Can You Hear Me Now? . I must agree with Turkle’s point of view that technology, along with all the positive aspects it brought into people’s lives, it also brought loneliness and sameness of lifestyle because of this abusive way people got to use technology nowadays. But as opposed to Turkle’s and millions of other people’s fearful thinking that mankind is developing too intimate relationships with machinery; I would say that this can be absolutely controllable. While it is true that the future of technology is only limited by our imagination, people have to learn that no matter how developed technology might get, the basics of a better life are self-esteem, respect for the others and willingness to self-educate and build up a strong character. According to Dictionnary. com,’ technology is the branch of knowledge that deals with the creation and use of technical means and their interrelation with life, society, and the environment, drawing upon such subjects as industrial arts, engineering, applied science, and pure science’. Commonly, technology can be defined as the science applied to practical purposes. It can be argued that modern technology makes life easier and more dignified for most of people. The first and the major advantage is that medical science is very progressive and vastly available. Without the needed technology a lot of people would struggle with their health. In addition it saves many innocent lives. The point is to spread it and reach with medicine help to the poor nations of the Third World. Secondly, the advanced technology improves industry by making it more effective and, what is vital today, safer for environment. Moreover when we look at TV, personal computer, mobile phone or internet for instance, it is quite obvious that all these inventions have been made in the last 20 years. Thus the speed of improvement is huge and unpredictable. We can get the fastest ways of communication through modern technology which ties humanity together like a nervous system ties the parts of an organism together. Today we are connected with every other human being on the planet in a way people never have been before this leading to globalization through diversity, a very powerful current which is really to consider nowadays. On the minus side there is weaponry which is the inseparable issue of the new technologies. Hence the main problem is the proper use of this knowledge. Nevertheless, weapon engineering propels and provides a huge advance. Also, the industry despite highly developed machinery pollutes the globe. On the other hand while many people live in horrible conditions and famine governments spend a lot of money on developing weapon industry. Is it the right way? Modern technology should prevent social disproportions and not add up even more. Technology entered our lives over a relatively brief period of time with little warning and essentially no preparation. Many who currently use information technology have only a limited understanding of the tools they use and a probably correct belief that they are underutilizing them. This is why most of the people pay more attention first to their interlocutors coming through the modern gadgetry considered a more elevated audience; the ‘real’ ones have come to fill just a second position. This is where Turkle’s fair point comes when she describes these people’s feelings – ‘Being put on pause’ this is the impression we get when the one we are engaged with in a conversation answers his cell phone or replies to an e-mail or a text message. Another example of the modern technology taking over the unprepared people is the virtual lives they build and end up becoming addicted on that up to a certain point where it can even become dangerous for themselves and the ones close to them. Millions become someone else every day, lying about their age, gender, occupation or appearance. If you can be anything, you might as well be who you wish you were rather than what limits you in the real life. So if someone decides they like their online persona better, and decides to spend as much time in that persona as possible, living virtually – are they crazy? These games are addictive by design, and a lot of people get sucked into a virtual world existence, at the expense of their real life happiness. And surely a large part of the attraction is this ability to live an alternate, and in many ways, happier existence. But this can get really dangerous when it comes to children and adolescents as they may discover ‘world in the Second Life’ as Turkle puts it in might be much easier and funnier and they can develop serious issues n forming their character and personalities. And the negative effects technology can have on children are numerous: less physical movement, lack of attraction towards reading, no sense of responsibility. With parents buying their children cell phones and expecting them to call as often as possible showing them actually how little they trust them, this only adds up to children’s developing a lack of responsibility and a sense of dependence, as Turkle puts in and I agree. The time of self-reflection at adolescence is taken over by ‘quickly communicating a state over the cell phone or through an instant message and emoticons’ (Turkle) leading to a new dependence in their early emotional lives. Another point that Turkle makes is that technology leaves less or no time at all to sit and reflect of ourselves uninterrupted and I agree with that. Unless we are really strong as to put away or turn off all the technology around us we cannot get a moment with ourselves as all this machinery can be very distracting. Nowadays, when the rapidness of development and research is so impressive, it is easy to think about the advantages of modern technology. It is obvious that we are close on an era where technology is limited only by our imagination. Therefore the most frequently asked question is: Does technology go the right way and will it save or ruin our civilization? I believe that we can just let ourselves carried along with it or we could impose on ourselves in being more aware of the disadvantages also and try to control it.

The Short Bus

In the summer we got a writing assignment. For this assignment we had to read the book The Short Bus and write a paper about it. Later on after school had started and time had passed the author of the book, Jonathan Mooney came in and had a presentation with us. Now I will be writing about the many different implications, both positive and negative, of being labeled different in our society. Also, I will describe and justify my ethical response to the use of words as weapons against others.Being labeled in our society is not necessarily a bad thing, it could be good. A good thing that comes from this is it helps you understand if someone is mentally handicapped. For an example, if someone has a mental handicap they could be considered â€Å"slow† and that is a nicer thing to say than â€Å"retarded† so to speak. Also, another reason this would be good is because in many schools special services are offered to those who are â€Å"different†. Tutoring, extended tim es on tests, alternative courses, and even a dedicated classroom can all be offered.But, in order to be qualified for those offerings, you would have to have the label of being mentally handicapped. My thought on this would be that many people that have mental handicaps already know that they are the way they are. They also usually accept the fact that they have a disability that many others do not have. On the other hand, there are unfortunately some bad things in this. Labels can be a very hurtful thing to a lot of individuals. Labels can add to prejudice and discriminations.They could also prevent or discourage you from getting to know someone. Being called gay, retard, or even an idiot are all forms of discrimination. If someone is homosexual or mentally handicapped they can most definitely not help it, it was the way they were born. I’m sure that most people that have these â€Å"problems† so to speak already feel like an outcast and giving people labels just make s the situation a lot worse and more painful. Also, this could very possibly make you not want to get to know someone.If all of your friends are giving a certain someone labels and making fun of them, there is a very good chance you would be discouraged in getting to know this person. That is not fair at all to the person getting the label or the person that would want to get to know someone. Another thing, when you are diagnosed with a handicap the handicap is not permanent. Therefore, you could eventually lose the handicap and still be considered the label in school and still have the special classes and extensions and such.On the other hand, if you never had any handicap before and you develop one sometime in the future, you would not be able to have special tutoring, extended time on tests, alternative courses, and a dedicated classroom, etc†¦ until you were diagnosed with the mental handicap that you could very possibly have obtained in the future. The second part of this essay I will give my ethical response on using words as weapons against others. I do not know where name-calling, labels, or being â€Å"different† originated from, but I despise it greatly.I think name-calling, labels, and all forms of using words to hurt others are very unacceptable. All this does is hurt someone; it does not help the person who is saying the words, at all. A lot of the words people use to hurt others do not even make much sense. For an example when someone says someone is ghetto it that someone or something is trailer trash. No one really knows where this came from and it really does not make sense at all yet, people still use it to hurt others. Using words to hurt people can become a pretty big deal.Recently, a handful of homosexual students committed suicide due to the bullying by others. According to ABC News Clementi jumped off the George Washington Bridge Tuesday, days after his roommate allegedly posted video on the Internet of him having sex with an other man. The recent eruption of gay teen suicides has been across the country, from the East Coast to Indiana, Texas to California, where 13-year-old  Seth Walsh, who recently hanged himself,  was memorialized Friday night This could happen to anyone at any time if the verbal bullying does not come to a stop.In this paper, I wrote about the many different implications, both positive and negative, of being labeled different in our society. Also, I described and justified my ethical response to the use of words as weapons against others. I think I gave my opinion pretty clearly. I also gave an example of what bullying others verbally could to do someone, thanks to ABC News.

Law Enforcement Assignment Example | Topics and Well Written Essays - 1750 words - 2

Law Enforcement - Assignment Example tion team, follow-up investigation team, all can make several common mistakes or psychological pitfalls can be there that can result in erroneous criminal investigation. These common error and psychological pitfalls must be known beforehand in order to avoid them while conducting an investigation. After crime detection, the preliminary investigating officer has to conduct a thorough preliminary investigation. In order to investigate, he has to try to locate and identity the perpetrator of the crime. This location and identification requires interviewing of eyewitnesses in order to obtain information from them (Technical Working Group for Eyewitness Evidence, & United States of America, 1999). The first and foremost common error that an investigating officer can make is asking an eyewitness leading questions that can make him or her inform what he/she has not witnessed. The investigating officer should ask open-ended questions from the eyewitnesses and keep them separated if they are more than one, as one’s account can affect the other’s account. Witnesses should be instructed to â€Å"avoid discussing details of the accident with other potential witnesses† (Technical Working Group for Eyewitness Evidence, & United States of America, 1999, p. 16). The inve stigators should allow the eyewitnesses to explain the happening as elaborative as they can and in the description phase, the investigators as interviewers should not interrupt the interviewees or try to redirect them (Day & Marion, 2012). In addition to that, the investigators make another mistake while investigating eyewitnesses. They give unintentional signals with their body language, speaking tone, facial gestures, and other cues to the eyewitnesses that can influence the validity of the eyewitness evidence (Technical Working Group for Eyewitness Evidence, & United States of America, 1999). Day and Marion (2012) inform that any ‘fidgety behavior’ depicted by investigating officer can cause â€Å"fidgety

Environmental law has led the development of environmental management Essay

Environmental law has led the development of environmental management systems (and environmental auditing in particular) - Essay Example environmental record keeping and performance and impact review) include illustration of how particular industries or businesses have adapted to the rise of such compliance requirements consider whether there are any disadvantages to environmental auditing being influenced by concerns about legal compliance Word limit: 1500 words Your essay must be typed and all sources must be referenced. Hand in Date: 11th August 2011, 16.00 (generic resit CW submission date!) Marked work to be returned: To be negotiated Environmental law builds on reform movements from the early part of the 20th Century, including consumer protection and industry regulation legislation that was enacted through the House of Commons in the protection of the public welfare and safety of workers. As public awareness and understanding of the danger to the natural environment from pollution and waste produced by industry grew, more and more people began to organize into advocacy groups and political change or reform move ments to affect public policy. Domestic law was the early vehicle for these reform movements and legislative changes produced in this manner became part of the common law tradition that would be enforceable in court with damages or penalties. As the role of governmental authority in policing and regulating industry on environmental concerns became more prevalent, official environmental protection and monitoring bodies were organized on the national level as industry watchdogs. With the rise of this legislation and associated governmental agencies in environmental protection, the requirements for the consumer, business, and industry to abide by environmental regulations led to the development of testing and auditing procedures that would guarantee compliance over large sectors of the economy. This can be seen in automotive emissions requirements and fuel conservation requirements in cars, trucks, and other vehicles; in pollution emissions testing requirements for factories in the ene rgy industry and industrial production; clean water and anti-pollution requirements for companies; as well as in modern movements to initiate a global carbon trading regime based on carbon-credits and a business’ fundamental carbon footprint calculated through use of fossil fuels in all aspects of production. These developments highlight how environmental protection legislation has moved from national law to become a major aspect of international business through treaties, multi-national accords, GATT negotiations, the WTO, etc. Nationally in the UK, there are two main sources of modern environmental law, the 1974 Control of Pollution Act and the Environmental Protection Act of 1990. The 1974 CPA prohibited the dumping of waste material, sewage, and other pollution in public land, rivers, and oceans, â€Å"where— (a) the waste in question is of a kind which is poisonous, noxious or polluting; and (b) its presence on the land is likely to give rise to an environmental hazard; and (c) it is deposited on the land in such circumstances or for such a period that whoever deposited it there may reasonably be assumed to have abandoned it there or to have brought it there for the purpose of its being disposed of (whether by himself or others) as waste, shall, subject to the following subsection, be guilty of an offence and liable on summary conviction to imprisonment for a term not exceeding six months or a fine not exceeding ?400 or both or, on conviction on indictment, to imprisonment f

Samurai Essay Example | Topics and Well Written Essays - 3000 words

Samurai - Essay Example The samurai has played an important part in Japan's record and traditions all over the centuries. Some narrations show samurai as legends who have played a very important role in developing Japan. This research would further describe the origins of samurai, who they were, how they came into being, their way of living, their standards and their importance in the world today. It will illustrate the significance of samurai in the history of Japan and why they are still known as great soldiers of their times. In the earlier times of Japan the battles fought are known to take place in the starting centuries of the AD. The wars that took place in these centuries show that many of the Japanese soldiers at that time crossed the sea to Korea to assist one empire who was having a battle with two other empires consequently. It is recorded that four hundred or above men left for the battle but were easily beaten up by the enemy because of the heavy armor which the enemy had. These four hundred men fought on foot while the enemy rode on horses. At this time the Japanese were unknown of the usage of horses in wars but after the century passed it is evident that horses were also used in the history of Japan by warriors who later were known as samurai. Samurai is a word which was used in the 10th century and the exact meaning of samurai is "those who serve". When the word samurai was derived, it was used mainly for men who defended the capital for the king. At times the people who collected tax were also known as samurai. Afterwards the person who joined military or the person who served any influential landlord was known as the samurai. These samurai used to travel on the horses and at times used to collect taxes from the peasants. This money was then given to the landlord or the emperor by the samurais and was later on used by them for their luxurious way of living. The word samurai made its ground in Japans history and it became quite known to the common people who started to value or dread the samurai. Later on the samurai became famously known for their strength and were used by the rich people to protect their land and wealth. As the land was a source of income for the rich people, they started to keep armies of samurai to protect their lands from intruders. In due course many of the rich people joined hands together and formed clans which ultimately became even more powerful than the ruler of Japan. Later on in the 12th century two of the influential clans (Minomoto and Taira) fought a battle in which the clan of Taira won. But after some years the Minomotos who had escaped from the battlefield came back to fight with the Taira clan. A battle took place between the Minomotos and Taira clans and this battle is known as the Gempei war. This battle however was successfully won by the other clan this time i.e. Minomotos. After the battle the ruler made Minamato Yoritomo shogun the chief of the armed forces. However Yoritomo was not satisfied with the power he got and soon he took o ver from the emperor and declared himself as a dictator. The new dictator gave a new foundation to the samurai and raised their position by giving them land. Gempei War marked an important step for the existence of the samurai. The battles fought during the war put the samurai to a position which was respected and honored. This respect and honor for the samurai is still known and will last forever. The

Human Resource Management Essay Example | Topics and Well Written Essays - 1500 words - 6

Human Resource Management - Essay Example This essay stresses that HRM is the advanced form of the HR. It is considered as the backbone of any organisation or firm. The relationship among the employees should be cordial and there should be a jovial environment. Gender equality is gaining importance in present market. Women are being considered as potential threat (competitors) to their male counterparts. With an able leader organisational goals can be achieved through proper planning. Corporate social responsibility also plays an important role in the development of an organisation. CSR agenda is to inspire, challenge and empower employees, to positively contribute to local communities and environment; to help create a substantial business future for all of us. CSR is viewed as part of the way in which business is done and an active approach brings tangible benefits to business. In recognising wider responsibilities to a broad range of stakeholders – including partners, employees, clients, suppliers, community groups and opinion formers – CSR aims to permeate many levels of business activity – affecting corporate governance, employee relations, client relationships, environmental management, community involvement as well as many business operations, including Graduate Recruitment, Diversity and Facilities. This paper makes a conclusion that CSR takes a number of forms; committed to developing sustainable and mutually beneficial working relationships with community and voluntary organisations working in a variety of fields – including education, regeneration, employment, homelessness and environmental conservation.

Human Resource Development and Management D5-8 Essay

Human Resource Development and Management D5-8 - Essay Example There are a number of training models which an organization can make use of. One of these is The Systems Approach to Training (SAT) which includes different stages including need analysis, course design, delivery and evaluation or quality assurance. The environment during the implementation of this training should be supportive on part of the human resource department. The human resource departments should manage and assist the employees during all the stages of this model. Most of the employees find it difficult to adjust to changes in the workplace and therefore, in order to help them get accustomed to these changes, the management needs to provide full support to them during this process (Jay Forte, 2011). As far as the transfer environment is concerned, effective and efficient transfer of knowledge and skills should be done just before the employee has to practically implement them. This will help the employee retain and effectively use these skills taught during the training ses sions (Suzanna Simpson, n.d). a) Human Resource Planning and Training Model for Organizations Experiencing Change. (n.d.). Evan Carmichael. Retrieved February 4, 2013, from http://www.evancarmichael.com/Human-Resources/6158/Human-Resource-Planning-and-Training-Model-for-Organizations-Experiencing-Change.html b) Create a workplace learning and training environment | Mindflash. (n.d.). Create Online Training | Online Training Software | Mindflash. Retrieved February 4, 2013, from http://www.mindflash.com/blog/2011/06/why-every-great-workplace-needs-a-classroom-environment/ 2. Performance appraisal is a management tool. As such, managers may use the power of the tool in various ways. For example, a manager may use overly positive performance ratings as a reward for someone who spearheaded a project for the manager. Likewise, a manager may use overly harsh ratings as punishment for someone who objected to a project the manager promoted. As a leader in an organization, what steps would y ou take to ensure that the performance appraisal system is fair to all employees? Substantiate your opinions by using outside sources. Performance appraisal is a system through which management evaluates the performance of the employees to find areas of further growth and improvement (Performance Appraisals, n.d). This system has a number of advantages and fulfills a number of objectives for the organization including increased motivation and job satisfaction of the workers. It is a program through which manager`s expectations are communicated to the employees and their ratings are then measured. However, managers are sometimes biased towards some employees due to the recent job performances. Therefore, it should be made sure that the performance appraisals are carried out in an equitable and fair way. In order to ensure a fair and equitable system, an organization should use a multi source assessment method to prevent any biases on part of the raters evaluating the employees. The r aters should be given proper training so that they do not take out personal grudges or favor some employees. For equitable assessment, managers should relate performance appraisals to employee goals and evaluate the performance of employees based on specific criteria. This will help the managers prevent judgments based on personal biases (Can appraisal process be fair, n.d). a) Can performance

Thurgood Marshall Research Paper Example | Topics and Well Written Essays - 1250 words

Thurgood Marshall - Research Paper Example Indeed, his interests in law forever changed the American history. Mershall is among the leading black figures in the 21st century. It was through Marshall that the American courts eradicated slavery and destroyed racist segregation systems. He promoted affirmative actions for people to live in harmony and equality. Indeed, Thurgood Mershall was an influential figure who laid a strong foundation in changing the American society. Thurgood Mershall was born in middle class family. In his childhood, Mershall’s parents enacted a strong emphasis on their son’s education. His interests in law started when he attended at Howard University to pursue law in 1933. For the first time, Mershall addressed discrimination and segregation in the Maryland University of Law. This was the place that Mershall experienced discrimination as an African-American student and lacked admission to the school. Later in his life, President Johnson Lyndon recognized Marshall Position to defend equali ty and thus, gave him the position to defend the civil right of all Americans. In 1967, the President nominated Marshall to be the associate judge in the Supreme Court. In this era, Marshall became the first African American to join the Supreme Court. ... His actions and decisions helped to fight racial segregation and discrimination against all blacks and African Americans. Most importantly, he did not only fight for equality and justice for his fellow Africans, but ensured that all people including the white received equal treatment. As a judge, he enacted important decisions regarding victims convicted of drug charges and the rights for the Native Americans (Glenn 10). Thurgood Mershall was an influential figure in the American history. He recognized the segregation in the public schools and worked hard to ensure that all children received equal rights and opportunities to pursue their education. In one of his speech in the Supreme Court, Mershall affirmed that the American government should fight for all children’s rights, regardless of their race. He believed that all children should obtain equal opportunities to attain their full potential and abilities as citizens. Mershall insisted that those children who never received their rights in the past deserved better treatment to achieve their dreams and visions in the future. He fought for a nation that would refuse to separate and promote unequal education. He emphasized that a nation could be better if the government could promote the education system for children to learn and live together. He argued that, the notion of children learning together would encourage children to live in harmony with another and understand people from different cultures. However, when children lack the opportunities to interact with people from diverse backgrounds, then they would grow up with the aspect that some races are more powerful than others. Mershall interests in ending discrimination and racism traced back in his childhood. As

Speech - Business and Economy Essay Example | Topics and Well Written Essays - 500 words

Speech - Business and Economy - Essay Example Larger companies with established brands could use outsourced products rather than manufacturing them and could sell the products with the help of advertising and branding efforts. Companies that create more brands offer more values to the customers. Next, let us turn our attention to branding. Branding is a process of value creation among the various stakeholders groups. It helps an organisation to keep its employees motivated and associated, it helps vendors and partners to create a positive image and establish relationship and most importantly it helps to create a positive image among the target consumer groups in order to motivate them for their purchasing and repeat purchasing decisions. It has affected the economies in various ways. The small companies and manufacturers are largely impacted by the branding efforts of large companies. The purchase decisions of consumers are largely impacted by branding. Companies take their branding decisions very seriously as any wrong decision may kill the brand. Many a time when any crisis comes many prestigious companies have adopted different strategies to maintain their brand name. For instance, Johnson and Johnson responded to depreciation in its product-tampering crisis by recalling and replacing its products, which turns around the situation.

Cognitive and Emotional Intelligence paper sample Essay Example for Free

Cognitive and Emotional Intelligence paper sample Essay DECLARATION I declare that this assessment is my own work, based on my own personal research/study . I also declare that this assessment, nor parts of it, has not been previously submitted for any other unit/module or course, and that I have not copied in part or whole or otherwise plagiarised the work of another student and/or persons. I have read the ACAP Student Plagiarism and Academic Misconduct Policy and understand its implications. I also declare, if this is a practical skills assessment, that a Client/Interviewee Consent Form has been read and signed by both parties, and where applicable parental consent has been obtained. Organisational Behaviour Assessment 1 Two important differences in organisational behaviour are cognitive intelligence and emotional intelligence. The following essay evaluates theoretical and practical strengths and limitations of both intelligences and discusses the application of each in modern organisations. Modern organisations face differing challenges to those of the previous century, high turn-over, globalization and the rapid development of ever changing technology all require special attention. It has never been more important to find the right person for the right job. General mental ability does not give the whole picture. There is a link between cognitive and emotional intelligence, each being important contributors to modern organisations. Cognitive intelligence (CI) has traditionally been the indicator of successful job performance (Bosco, Nathan, Allen, 2012). Organisational psychology uses cognitive ability to predict workplace success (Neisser et  al., 1996). Cognitive intelligence can be generally defined as academic ability, IQ or general mental ability, including the ability to critically think and reason logically, to analyse and problem solve, as well as individual aptitude in reading and writing (Sternberg, 2006). CI is a valuable asset in employees, particularly in some specialist fields where critical thinking, logic and reason are required, occupations such as scientific researchers, accountants, economists etc. The capacity of all workers to engage cognitive intelligence in quick and effective decision making serves as an important basis for achieving successful outcomes in the most workplaces. Patton (2003) found a consequence of the developing business climate is the global economy and the Internet, each necessitating an increased speed of communications in business transactions. Decisive leaders are forced to make timely decisions without consult and all the data on hand, such an environment necessitates in the need for higher levels of general mental ability in order to achieve both increased levels and faster acquisition of job knowledge, thus leading to greater levels of job performance (Schmidt Hunter, 2004). CEO of Southwest Organisational Behaviour Assessment 1 Airlines, James Patton, displayed the importance of quick and effective decision making when facing a crisis on September 11, 2001. When planes where grounded and millions of passengers stranded, Patton decided that customers and staff would come first. No employees were required to stand down or take pay cuts, and passengers were given hassle free refunds, furthermore, Southwest employees were encouraged to take passengers to a movie or bowling to pass the time while awaiting news. In the aftermath of 9/11, while most airlines were reducing their workforces by 20% Southwest announced a $179.8 million profit sharing program for employees and managed to retain all staff (Gittell et el, 2006). Other examples of CI are literacy skills, such as reading and writing which are major tools of modern day  businesses: emails, documents and various other item of paperwork require high levels of accuracy for effective communication, efficiency on computers and an ability to learn new technolog y is important in this information world. McKenney, Copeland, Copeland and Mason (1995) propose that the revolution in communications and information technology should be considered as a dominant force in recent social and economic change. Although CI is undeniably important in establishing an efficient workforce it is not the whole picture. The value of cognitive intelligence is irrefutable however some limitations apply. Validities of predicting outcomes in real life are low. According to Viswevaran and Ones (2002), general mental ability accounts for only 25% variance in work performance. Furthermore, they suggest that intelligent behaviour is more than just the result of what intelligence tests measure. A practical example of the limitations of cognitive intelligence can be referred back to the other airlines effected by the 9/11 crisis. While Southwest airlines triumphed against adversary other airlines suffered greatly. There is no denying that the CEO’s of these struggling airlines were people of high cognitive intelligence, however, this personal asset alone was not enough to avoid financial losses, perhaps other ingredients such  as emotional intelligence and adequate policies are still required in order to retain consumer trust. Other CI limitations include measurement, particularly IQ testing which ma y result in adverse impact against minorities (Viswesvaran Ones, 2002). Tests presented in a language other than an individual’s primary language as well as differing cultural approaches make the result of such tests weighted in favour of the culture that produced it. High IQ does not guarantee adequate function in the  workplace. Highly gifted people are often underestimated and misunderstood by peers and society (Nauta Corten, 2002). They may make ineffective leaders as staff may not appreciate their intensity, perfectionism, questioning, and being â€Å"too smart† Heylighten (n.d.). Furthermore, CI does not guarantee a good team player. Elkin and Burke (2008) report Steve Jobs, while an example of a successful individual with extremely high cognitive intelligence, is reputed to have been a tyrant to work for. Critics claim he took credit for ideas that were not his, was not a team player, and was impatient, domineering and obsessive, behaviour which is inducing of high staff turnover or low employee retention rates. They also suggest Jobs strengths such as vision, magnetic charisma, perfectionism, all drove him to be a great CEO but are also the same drives that placed his company, staff and investors at risk. Highly intelligent individuals may have issues with delegation, trust, admitting error or asking for help. When compared to autonomous work, good teamwork enables tasks to be accomplished faster and more efficiently, reduces workloads, work pressure and improves staff relations (Kelly, 2004). Some highly intelligent people, such as those with Asperger’s Syndrome, may have low social skills. Individuals with Aspergers may test very highly on a CI tests but often their communication with others is blunt, awkward, stilted or odd (Shea, 2009). Saaty (1999) suggests that primary language expresses affections rather than ideas or thoughts. An inability to effectively communicate with consumers may result in difficult social relationships. While CI is indeed an important consideration in e mployee ability it is not a stand-alone measure of success. Emotional Intelligence (EI) is increasingly being viewed as having a significant influence on job performance and effective leadership in the workforce. A commonly referred to definition of EI was given by Mayer, Caruso and Salovey (1999) â€Å"Emotional intelligence refers to an ability to  recognise the meanings of emotions and their relationships and to reason and problem solve on the basis of them. Emotional intelligence is involved in the capacity to perceive emotions, assimilate emotion-related feelings, understand the information of those emotions and manage them† (p. 267). EI reflects one’s capacity to cope with daily challenges and may assist in predicting both personal and professional success in life. Assets in any working relationship include social awareness, social networking, relationship management, self-awareness and self-management. While small business has long relied on understanding the importance of social networking and keeping healthy relations hips and positive reputation in their community, new technology, globalization and social media now take social awareness and social networking to a whole new level. According to Qualman (2009) global connectivity now results in both positive and negative messages regarding products and services becoming immediately, permanently and easily accessible to the whole world. EI is a valuable asset in employees, particularly in some specialist fields where charisma and empathy are required, such as, sales and marketing, counselling or nursing. Effective leaders, as part of their role in managing relationships, should embody competent levels of respect, empathy, courtesy, motivation and be able to inspire others. The importance of empathy can be illustrated by an American business called Toro who manufacture commercial lawn equipment. The nature of the product results in around 100 serious injuries annually, prior to the appointment of CEO Ken Melrose, Toro faced an average of 50 law suits per year, resulting in massive financial losses to the company. However, Melrose added empathy. Injured workers and their families where meet by company representativ es, sympathies where expressed, investigations made and any needs were meet at the onset. This change in policy has reduced the number of lawsuits from an  average of 50 per year to only one since 1991 when the policy was introduced (Rainey, Chan Begin, 2008). Furthermore, leaders need teams who are energetic, innovative, creative and passionate (Sloane, 2007). Understanding individual drives and motivations enables management to get the best results from their team. Effective management must be self-aware and have the ability to self-manage, including being aware of and managing moods, adapt appropriate emotions and behaviours to appropriate situations. Jack Welsh, Chairman of General Electric states that A leaders intelligence must have a strong emotional component. He has to have high levels of self-awareness, maturity and self-control.’ (as cited in Balakrishanan Mouli, 2011, p. 44). EI allows managers to get the best out of their employees. Perks (2007) advises that successful leaders are high in emotional intelligence; they maintain positive working relat ionships and employ adequate coping strategies in all areas of life. Leaders, ideally, should possess emotional intelligence to encourage the best of their team. Emotional intelligence, however, has its limitations. Cherniss (2010) even suggests that EI has produced the highest level of controversy in the social sciences of recent years. More clarity in regard to theory is required. Roberts, Matthews and Zeinder (2010) propose that EI models do not adequately address theory. Furthermore, Roberts suggests that emotional intelligence definitions lack clarity and questions the criterion of which qualities should belong under the banner of emotional intelligence. It seems necessary to adopt one clear common definition. Measures of EI are currently underdeveloped in this relatively new field, more research and the creation of better measures may improve construct validity (Cherniss, 2010). This may result in the development of greater understanding and respect for the field. There is no guarantee that a person high in EI, will use this asset in a positive manner. Individuals with high emotional intelligence may manipulate people or situations for personal gain. Saaty (2001) suggests that decisions are not always based on the greatest idea  but on a person’s ability to persuade others to accept the idea. More exploration and clarification is required to address some of the limitations of emotional intelligence. Modern organisations face fundamentally different problems from those of the in the past, globalization, increases in technology and staff turnover are just some of the issues being confronted. The belief has been held for around a century that higher intelligence in individuals is more valued due to their higher task performance (Viswesvaran Ones, 2002). Modern organisations provide services, and are organised according to a blend of individual’s, information and communication technology, social capital and recognized talents (Schoemaker Jonkers, 2005). The measuring of CI enables modern organisations an affordable and speedy way of evaluating an employee’s general mental ability. General mental ability has been related to occupational level on both cross-sectional and longitudinal studies (Schmidt Hunter, 2004). CI measures allow employers to apply specific cognitive abilities to valid and appropriate positions within the business with a view to discovering the bes t person for the job. According to Holloway (2003) employing the â€Å"right person for the job† or job fit is more essential now than ever. Job fit can be described as â€Å"the degree to which a person’s cognitive abilities, interests and personality dynamics fit those required for the job† (Russell, 2003, p.27). This is where the importance of emotional intelligences comes into play. A constant balance between understanding the individual drives and motivations of workers and ensuring staff remain engaged, enthusiastic and valued has many rewards for modern organisations. Incorporating a balance between both intelligences gives employees the greatest chance of achieving appropriate job fit. Holloway (2003) states that positive job fit, results in increased job satisfaction, increased productivity and reduced staff turnover. Furthermore, research by O’Reilly, Chatman and Caldwell (1991) suggests newly hired staff whose with values that fit in with the culture of the organisation tend to adjust quicker, remain longer with the company and are overall more satisfied. While Hollaway,  (2003) states th at understanding of workers in regards to work/life balance, personal goals and drives may encourage loyalty reducing turnover, saving on retraining and downtime. Furthermore, EI combined with CI addresses the gaps between management and workers through understanding of positive leading by example management that can result in emulation by employees resulting in a ripple effect throughout the organisation. There is a strong link between emotional intelligence and cognitive intelligence and the combination of both intelligences has become necessary for successful business relations in modern organisations. Cognitive intelligence and emotional intelligence are each important factors in regard to individual differences in the field of organisational behaviour in modern organisations. While general mental ability accounts for many valuable employee assets such as efficiencies in regard to knowledge acquisition and technological aptitude, limitations to validity and measurement of testing and relevance mean that cognitive intelligence is not the only measure of a successful employee. Emotional intelligence also plays a key role in individual success in modern organisations. Effective leadership, self- awareness, social networking, empathy, self-management are all are assets of the emotionally intelligent. Modern organisations benefit from the combination of both intelligences by finding the best fit for the position resulting in higher job satisfaction, higher retention of staff and greater profits. References Balakrishanan, L., Mouli, S. (2011). Emotional Intelligence – A Key for Effective Employee Management. Amet Journal of Management,1(1),44. Retrieved from http://www.ametjournal.com/attachment/Amet-journal.pdf Bosco, F. A., Nathan, B., Allen, D. G. (2012, July). Higher validity and less adverse impact! Using â€Å"Executive Attention† to measure cognitive ability. Paper presented at the meeting of the International Personnel Assessment Council, Las Vegas, NV. Cherniss, C. (2010). Emotional intelligence: Toward clarification of a concept. Industrial and Organizational Psychology, 3(2), 110-126. doi:10.1111/j.1754-9434.2010.01231.x Elkind, P., Burke, D. (2008). The trouble with Steve. Fortune, 157, 54-63. Retrieved from http://personal.bellevuecollege.edu/llum/GBUS101/09WSteveJobs.pdf Gittell, J. H., Cameron, K., Lim, S., Rivas, V. (2006). Relationships, layoffs, and organizational resilience airline industry responses to September 11. The Journal of Applied Behavioral Science, 42(3), 300-329. doi:10.1177/0021886306286466 Heylighen, F. (n.d.). Gifted People and their Problems. Retrieved from http://pespmc1.vub.ac.be/Papers/GiftedProblems.pdf Higgins, D. M., Peterson, J. B., Pihl, R. O., Lee, A. G. (2007). Prefrontal cognitive ability, intelligence, Big Five personality, and the prediction of advanced academic and workplace performance. Journal of personality and social psychology, 93(2), 298. doi:10.1037/00223514.93.2.298 Holloway, P. (2003). Job Fitness Series: The Right Person for the Job. AboutPeople. Retrieved from http://www.aboutpeople.com/PDFFiles/The%20Right%20Person%20For%20the%20Job.pdf Kelly, B., (2014). Importance of Teamwork in Organizations, Demand Media retrieved March 8, 2014. Retrieved from http://everydaylife.globalpost.com/importance-teamworkorganizations-12033.html McKenney, J. L., Copeland, D. C., Copeland, D. G., Mason, R. O. (1995).Waves of change: Business evolution through information technology. Harvard Business Press. Boston, USA. doi: 10.1080/08109029608632025 Mayer, J. D., Caruso, D. R., Salovey, P. (1999). Emotional intelligence meets traditional standards for an intelligence. Intelligence, 27(4), 267-298. doi:10.1016/s0160-2896(99)00016-1 Mayer, J. D., Roberts, R. D., Barsade, S. G. (2008). Human abilities: Emotional intelligence. Annual Review Psychology, 59(1), 507-536. doi:10.1146/annurev.psych.59.103006.093646 Nauta, N. Corten, F. (2002) Tijdschrift voor Bedrijfs- en Verzekeringsgeneeskunde Journal for Occupational and Insurance Physicians, 10(11), 332-335. doi:10.1007/12498.1876-5858 Neisser, U., Boodoo, G., Bouchard Jr, T. J., Boykin, A. W., Brody, N., Ceci, S. J., Urbina, S. (1996). Intelligence: Knowns and unknowns. American psychologist, 51(2), 77. doi:10.1037/0003-066x.51.2.77 OReilly, C. A., Chatman, J., Caldwell, D. F. (1991). People and organizational culture: A profile comparison approach to assessing person-organization fit. Academy of management journal, 34(3), 487-516. doi: 10.2307/256404 Patton, J. R. (2003). Intuition in decisions. Management Decision, 41(10), 989-996. doi:10.1108/00251740310509517 Perks, J. (2007, September). The Role of Emotional Intelligence in Business. Computer Weekly.com retrieved from http://www.computerweekly.com/news/2240082956/The-role-of-emotionalintelligence-in-business Qualman, E. (2009). Socialnomics: How Social Media Transforms the Way we Live and do Business. Hoboken, USA. John Wiley Sons. doi:10.5860/CHOICE.48-1576 Rainey, M. B., Chan, K., Begin, J. (2008). Characterized by conciliation: Heres how business can use apology to diffuse litigation. Alternatives to the High Cost of Litigation, 26(7), 131-134. doi: 10.1002/alt.20237 Roberts, R. D., Matthews, G., Zeinder, M. (2010). Emotional Intelligence: Muddling Through Theory and Measurement. Industrial and Organizational Psychology, 3, 140-144. doi: 10.1111/j.1754-9434.2010.01214.x Russell, C. (2003). Right Person, Right Job: Guess or KnowThe Breakthrough Technologies of Performance Information, (2nd ed.). Amherst, USA. HRD Press Inc. Saaty, T. L. (2001). Decision Making for Leaders: the Analytic Hierarchy Process for Decisions in a Complex World (2nd ed.). Pittsburgh, USA. RWS publications. doi: 10.1080/00137918308967693 Schmidt, F. L., Hunter, J. (2004). General Mental Ability in the World of Work: Occupational Attainment and Job Performance. Journal of Personality and Social Psychology, 86(1), 162173. doi: 10.1037/0022-3514.86.1.162 Schoemaker, M., Jonker, J. (2005). Managing Intangible Assets: An Essay on Organising Contemporary Organisations Based upon Identity, Competencies and Networks. Journal of Management Development, 24(6), 506-518. doi: 10.1108/02621710510600964 Shea, S.(2009). Capstone: Communications Difficulties Among Individuals With and Without Aspergers Syndrome. Retrieved from: http://www.asdjobsink.com/CommunicationDifficulties.pdf Sloane, P. (2007). The Innovative Leader: How to Inspire Your Team and Drive Creativity. Philadelphia, USA. Kogan Page Publishers. Retrieved from: http://books.google.com.au/books?id=fb1vXOzjIBYCprintsec=frontcoversource=gbs_ge _summary_rcad=0#v=onepageqf=false Sternberg, R. J. 2006. Intelligence. Encyclopedia of Cognitive Science. doi: 10.1002/0470018860.s00555 Viswesvaran, C. Ones, D. S. (2002). Agreements and Disagreements on the Role of General Mental Ability (GMA) in Industrial, Work, and Organizational Psychology. Human Performance, 15(1/2), 211-231. doi:10.1207/s15327043hup150102_13

The relationship between firms and households

The relationship between firms and households 1.0 Introduction Factors of production are land, labor capital and entrepreneurship. Households are the owners of factors of production and the firms are users of factors of production. Firms use households (factors of production) to pay factor incomes which is rent, wages, interest and profit. Firms will use factor of production to produce output in the way of goods and services, which will be purchased by the household. In this way household incur their expenditures. 1.1 Body Circular flow diagram is the visual model of economy which shows how money flows through the markets among household and firms. Circular flow model consists of four separate models which each sequentially adding sectors or markets and also thus providing the greater complexity and realism. The four flows are flow factors of production from households to firms, flow of incomes from firms to household, flow of output of goods and services from firms to households and lastly flow of expenditures from households to firms. 1.1.1 Circular Flow Diagram http://wpcontent.answcdn.com/wikipedia/commons/thumb/b/b8/Circular_flow_of_goods_income.png/350px-Circular_flow_of_goods_income.png Above circular flow diagram divides the economy into two sectors which is one concerned with the producing goods and services, and the other with consuming them. All the four flows which has been stated as been illustrated in the circular flow above. In the diagram the outer flows of incomes and expenditures are flows of money and the inner flows of factors of productions and outputs are the flows of goods and services. 1.1.2 Households Households have the main function because they are the workers and also consumers. So they provide labour to firms and compensated with wages from the firms. Other then that as consumers they also buy goods and services from firms which constitutes as consumer expenditure. 1.1.3 Firms Firms are the producers of goods and services. Labour and capital is the input of the production process. Labour comes from households where wages are paid and the capital investment can be funded either by retained profits or borrowing from the financial sector. 1.1.4 Relationship between Households and Firms In a daily life example we are consumers who are working for a firm to earn wages. Because we working for the company the company makes profit and increase their production in their goods and services. When we are the households we receive wages from firms and we use it to buy goods and services produce by firms. 2.0 Withdrawals and Injections Withdrawals take place when there are movements of funds out of the circular flow in income. The three important things in withdrawals are Savings (S), Taxation (T) and Imports (M). In Savings households wont be spent all the factors income received on the current or even immediate consumption. Households also prefer to keep some for future or deferred consumption. For example households make their saving in the form of deposits at financial institutions such as banks. Taxation is where households have to pay to the government as taxes from their income. For example when household receive their wages their will be a deduction column as their income tax. Imports is where households willing to buy goods and services from abroad rather than consuming domestically produced goods and services. An injection takes place when there are movements of funds into the circular flow of incomes. The three important things in injection are Investments (I), Government expenditure (G) and Exports (X). In Investments households saved income which was deferred consumption there are later invested back in the circular flow/economy. In government expenditures government use all the taxes received from households and then ità ¢Ã¢â€š ¬Ã¢â€ž ¢s creates in flow of funds back into the circular flow. For example government expenditure includes road building, construction and more. Government use the total taxes which had collected from household to build road, hospital, buildings and other. In exports firms may sell some of their goods and services to foreign countries. In the economy expenditure from the foreign countries by foreigners becomes an injection. 2.1 Withdrawals and Injections diagramUntitled.jpg 3.0 Total Withdrawals equal wit Total Injectionsmmmm.jpg In the terms of the expanded circular flow of the income model the state of equilibrium takes parts when the total withdrawals that occur in the economy. It can be proven as: Savings + Imports +Taxes = Investment + Government Spending + Exports OR S + M+T = I + G + X 4.0 Conclusion Disequilibrium is the stage where the economic activity is not equal, and it is where withdrawals become greater than injections or even withdrawals less than injections, where also known as the stage of equilibrium when Withdrawals equal with injections. (693 WORDS) 5.0 Bibliography 1. Mankiw, Gregory N. Principles of Economics. 4th edition,  ©2007 Thomson Southwestern, 2. Sloman, John (1999), Economics, 3rd edition, Pretice Economics. 3. Graeme Chambelin, Lind Yueh (2006), Macroeconomics, Thomson Learning. QUESTION 2 1.0 Introduction The fluctuations in the level of the economics activities of a country over time are often be the best illustrated by the Business Trade Cycles. Business trade cycle is also known as the periodic fluctuation in the rate of the economic activity as it been measured by levels of employment, prices and also production. 1.1 Body The four main concepts in business trade cycles are full employment, unemployment, recession and inflation. Full employment takes place at the level of economic activity when all available at factors of production are fully utilized. In the business trade cycles, there is upward swings and also downward swings. The periods of adversity are alternate with the periods of business prosperity. Every boom is followed by a vice versa and also a slump. This business trade cycle is simply means that the whole course of trade or even business activity which is passes through all the phases of prosperity and also adversity. 2.0 Phrases in Business Trade Cyclemk.jpg 2.1 Phases in Business Trade Cycle Economists actually divided the business cycles into two main phases which is depression and recovery then boom and slump. Boom and slump mark turning points in the cycles. 2.1.1 Depression In this phase, the whole economy will be in depression mode and the business is at the lowest stage. Other than that the general purchasing power of the community is very low. In the productive activity, both production of consumer goods and the production of capital goods are at the low level. There are some of the main characteristics in depression. Depression makes the amount of production and trade shrinks. It is also increases unemployment and the overall prices become decreases. All the profits and wages decreases and the income of the community fall at a very low level. Other than that aggregate expenditure together with the effective demand also goes down. For example if a firm receiving a new investment or replacement investment they will make it delay as long as they are possible to go for it. Other than that in stock markets the prices of all shares and securities will be fallen to a very low level. Even in practically all the construction activity no matter in buildings o r machinery comes to an end. 2.1.2 Recovery Recovery is also known as expansion. In this phase the depression period comes to an end. In recovery phase all the economic situations become favourable. As money become cheap it makes the other materials and also factors of production easy and cheap. Here the aggregate demand becomes low aggregate supply. Other than that the productive activity also has been increased and the entrepreneurs also have sufficient financial backing. This makes the further investment and production increased. For example when a construction company ends all their projects in depression phase, now the same company will start receiving orders and employing more employees to create more income and employment. Lastly the whole economy will be moving faster towards the boom phase. 2.1.3 Boom Boom is also known as peak phase and it is a turning point in trade cycle. This phase is the highest point in economic recovery. In this phase there is a large number of production and also trade. There is also a high level of employment and also the job opportunities in limited amount to permit a good deal of labour mobility. Aggregate Demand will be equal with Aggregate supply. Overall it makes the prices rise. Other then that it also makes a rising structure in interest rates so then a bullish tendency rules makes stock exchanges. For example when a construction company starts to make more profit and inverse more the will improve their business and may need more employees. So then it makes the company offer more employment and it also makes the company get high level of investment. 2.1.4 Recession Recession is the sharp slow down in the economic activity, but slight different from depression which is more severe and also pronged downturn. Aggregate demand is low then aggregate supply. As the depression created the conditions of recovery, it is similarly and the boom conditions generate their own checks. All the idle factors have been employed and also further demand must raise their prices, but the quality is also inferior. In this phase there should be less efficient workers which have been taken for higher wages. The interest rates will rises and also other materials. Finally the costs have started to upward swing. 3.0 Conclusion Macroeconomics is mainly associate to the balance between Aggregate Demand and Aggregate supply in the whole economy/country. If the aggregate Demand becomes higher than Aggregate Supply the excess demand will be cause inflation. If the aggregate Demand becomes lower than aggregate supply, then the insufficient demand will cause recession and unemployment. (796 WORDS)

Free College Essays - An Analysis of Solo by Jack Higgins :: Solo Essays

An Analysis of Solo This book, in my opinion, is a very good example of a serial killer, and his ironic demise.   The book begins with an example of serial killing, where a powerful, influential man is killed by an assassin.   The book, after the killing, follows the killer to an unusual place-a concert hall. There it is found that the killer is internationally famous concert pianist John Mikali.      Ã‚  Ã‚   This man, Mikali, has been tormented by death and pain all of his life. His family has been based through a stout naval history, as his father, and relatives past have all been commanders and captains of great naval ships. The one break in the chain was his Grandfather and him, John, who is a concert pianist.   John is clever but physcotic, because his hobby, as gruesome as it may seem, is killing.   It began one day when his nanny was killed.   It seemed she was killed by a hit and run driver.   John, who loved his nanny so much, decided to get revenge, and revenge he did.   He killed the man who had been driving the car.      Ã‚  Ã‚   The book starts out, as said, with a killing and then by revealing the killer.   Then the book goes into a story of the life of the man Mikali. His mother and father had been killed at sea, and the only people he had left were his nanny and his aunt. The book gives an accurate description of his life and times before his incredible hobby.      Ã‚  Ã‚   After the book describes Mikali's background, which itself is filled with death, the book goes into the current life of Mikali and how he got to where he is.   Mikali discovered his great talent in music at a very early age.   His grand-father, who is the only blood relative he has left, is committed to his grand-son.   He gives his son the best schooling in the form of music he loves the most: the Piano.      Ã‚  Ã‚   The book after it has dealt with the past then goes into the present. Using this method, it resembles a time line:       MIKALI'S DEEP PAST--------RECENT PAST---------PRESENT TIME      Ã‚  Ã‚   After the recent past, in which Mikali has killed over 30 well known and influential people all around the globe.   He uses his influential piano connections to travel all around the globe.

Economics :: essays research papers

Coca - Cola On the 14th of June Coca-Cola’s soft drinks were banned from the markets in Belgium and later also in Luxemburg and France. Two failures in the bottling system were the cause for the nausea that the people suffered. According to the article it would have been better if they would have acted fast and told the whole truth. Coca- Cola is in an ologopolistic market and therefore branding plays a great role. It is possible that the company ha lost market shares, due to this accident. In the ologopolistic market the firms don’t compete with price, but rather with advertising and other non-price strategies. Therefore one can predict that this scandal has shifted the demand curve to the left. This accident can be seen as a negative externality. The government should make Coca Cola increase their health controls (internalise their externalities), if scandals of this sort happen again. They can enforce this by either subsidies (reward) of in this case taxation (punishment). People who would usually only buy Coca Cola due to the heavy advertising might try a substitute during the time of the ban. This can be seen as a sort of free promotion for the others in the market. According to the zero sum game, the lose that Coca Cola is making right now is directly proportional to the profits the other firms are making in the respected market. Coca Cola will need to take further actions to restore their brand name that they have established throughout all these years. This will significantly influences their total added costs. A strong brand has very few goods substitutes and it is very difficult for competitors to challenge the supremacy of the brand. This health scandal might have opened the doors fro new competitors. In the long run this can lead to Coca Cola’s costs for advertising to increase or furthermore they could lose control of the market and fall into a disequilibrium. The accelerator theory suggests that the level of planned investments varies with t he rate of change of income or output rather than with the rate of interest. It will be hard for the big American company to fulfil their expectations of expansion in Europe with no investors being pleased with their progress. Best Foot forward at Reebok On October 18th Reebok published a 41 page report on how it is dealing with its workers in Indonesia.

Major World War I Battles Essay

1914- The First Battle of the Marne. Up until September of 1914, the German army had steadily advanced through Belgium and France and was nearing the capital of France, Paris. Luckily, in the First Battle of the Marne, six French armies and one British army were able to stave off the German advance and set the stage for trench warfare for the next four years. 1915- Second Battle of Ypres- This was the second battle for the city of Ypres, which was located in western Belgium. For the Germans, this marked their first widespread usage of poison gas during the war. At Gravenstafl, Canadian troops were able to hold off the Germans by urinating into cloths and covering their faces with it. 1916- Battle of Verdun. The Battle of Verdun was meant to be Germany’s final push to break through French lines. A common expression was â€Å"to bleed the French white†. Both sides suffered immense casualties; however there was no clear victor even though the Germans were forced to withdraw. 1917- Battle of Caporetto. In this battle, otherwise known as the 12th Battle of Isonzo, Austro-Hungarian forces reinforced by German infantry finally broke through the Italian front line and routed the entire Italian army. Poison gas and storm troopers effectively contributed to the massive collapse of the Italian army. 1918- Battle of Cantigny. This was the first major battle involving U.S. forces up until that point in World War I. While, Cantigny was a relatively easy objective and was overshadowed by larger battles occurring elsewhere on the front, this battle was significant in demonstrating that the U.S. forces could be trusted to hold their own. 1. Up until the U.S. entrance into the war, the U.S. had already been providing massive amounts of supplies to the French and British, despite their claims of neutrality. This one-sided trading led to German attacks on U.S. merchant vessels and was one of the reasons the U.S. entered the war. The American Expeditionary Force did not actually face many battles as they arrived in Germany in early 1918. They did prove their worth and strength however in the Battle of Cantigny, where solely U.S. troops were able to capture the town of Cantigny and repulse several fierce German counterattacks. 2. Women had a huge role in the war effort at home, while African Americans directly contributed to the war effort. Women filled many of the jobs men left behind, especially in factories that were now facing huge demands for war supplies and low numbers of workers. Without women rising to fill these ranks, the American war effort would have been severely hindered. African Americans, although still discriminated and segregated in units, fought bravely and fiercely in World War I and earned the respect of many soldiers around them. 3. U.S. society

The Road To Growth For Financial Institutions

Expansion of banks and financial acquisitions in the U. S. generally occur in two ways: by organic growth or by mergers and acquisitions. Organic growth is the rate of business expansion that an organization can achieve through increasing output and enhancing sales. This form of business expansion excludes any profits or growths gained from mergers, acquisitions, and take-overs.This represents the true growth for the core of a company and is a good indicator on how well the organization’s management has used its own internal resources to expand profits. This type of business expansion also helps to identify whether managers have used their skills to improve the business (Investopedia 2006a; Wikipedia 2006a). On the other hand, acquisitions, mergers and take-overs do not bring about profits generated within a company, and are thus not considered organic growth.Historically, investment banks (which are defined as intermediaries which assist companies in selling ownership of them selves as stock or borrowing money directly from investors in the form of bonds) have been closely associated with the activity of merger and acquisitions since it represents a sales opportunity for the investment bank. For a bank to merge with another financial institution, it needs to attain a fair market value for its shares to swap with shares from the other entity.A popular formula in describing mergers and acquisitions is â€Å"one plus one makes three† – the key principle behind buying a company is to create shareholder value over and above that of the sum of the two principal companies involved (Investopedia 2006a; Investopedia 2006b; Wikipedia 2006b; Investopedia 2006c). In other words, two companies together are deemed more valuable than two separate companies. Strong companies buy other companies to create a more competitive, cost-efficient organization and to gain a greater market share.Target or weaker companies in turn often agree to being purchased by th ese stronger companies when they know they cannot survive alone in a competitive market (Investopedia 2006a; Investopedia 2006b; Wikipedia 2006b; Investopedia 2006c). Most major financial institutions in the US have gone through some form of merger and all of these institutions inevitably monitor their organic growth. The benefits that each type of business expansion offers are unique, and there are certain advantages and disadvantages in each type.The relevance of studying mergers and acquisitions involving financial institutions is that these activities can dictate the fortunes of the companies involved for years to come, and have considerable impact on investors involved as well as within the organizations themselves. Likewise, organic growth helps to strengthen an organization internally and places it on a stronger market position if done effectively and successfully. The significance of this research study is to compare these two types of business expansion.The objectives of th is study are to analyze these two types of business expansion as to their strengths and weaknesses, benefits and potential threats or disadvantages to the banking sector, and to provide an overview of the history of the banking sector in terms of both organic growth and mergers and acquisitions activities and endeavors. The research is helpful in that it will provide valuable research data and hopefully some helpful insights to help financial institutions, large or small, to evaluate their present business expansion activities.Small companies which are limited to organic growth, and may wish to venture into mergers or acquisitions, may be able to use the data provided here. Larger institutions which practice both organic growth and mergers and acquisitions, on the other hand, may be able to use this research to evaluate the strengths and weaknesses of both activities. The rest of the paper is organized as follows. Section I as presented here provides for the introduction to the stud y, definition of terms, objectives, the research topic, and the significance of the research.Section II provides for a literature review on both organic growth in the banking sector and mergers and acquisitions of financial institutions. Section III discusses the data gathering process for this study, the methodology used, and the research framework followed for this study. Section IV will provide for the analysis of the results and findings as gathered from the literature and related work reviewed. Section V presents the summary and conclusions of the study based on the analysis provided for in Section IV. Finally, Section VI will describe future directions this study might take.II. Literature Review According to the results of an annual study conducted by A. T. Kearney, one of the world’s largest management consulting firms, investment management firms are outperforming retail banks in the highly competitive race to grow profitably and to gain market share. A. T. Kearney co nducted an Annual Organic Growth Index (OGI) for 2006 for measuring growth in investment and retail banks. The study was based on data collected online by Harris Interactive? of more than 4500 banking customers in the 20 largest US metro markets.Seven out of the ten top-scoring financial institutions included in the OGI based on their capability to grow organically were investment management firms, with Ameriprise with the top score for the second consecutive year, outperforming most banks and other investment firms such as Edward Jones, A. G. Edwards, Vanguard, Charles Schwab, and Merrill Lynch. Wachovia, on the other hand, outperformed many of its retail bank counterparts, also for the second year in a row since A. T. Kearney started conducting this study in 2005 (A. T. Kearney 2006). A. T.Kearney’s study is significant for this research since it provides insight into which financial institutions are most capable of achieving and sustaining organic growth. The index connect s customer attitudes and actions with their wallet allocation decisions. The OGI looks at the performance of financial institutions based on their ability to achieve both Customer and Wallet Momentum. Customer Momentum measures an institution’s ability to attract and retain customers, forge long-lasting customer relationships, and instill advocacy among their customers. For the A. T.Kearney survey, the following components were involved in measuring Customer Momentum: advocacy, primary financial institution identification, propensity to switch institutions, and lack of errors. Wallet Momentum on the other hand measures an institution’s ability to expand the number of products and drive greater penetration per product with its customers. Components involved are: intent to add accounts, intent to increase equity account value, share of wallet with primary financial institution, and average number of products per customer (A. T. Kearney 2006). According to the results of the A.T. Kearney study (2006), investment management firms performed better overall than retail banks by scoring high in both Customer and Wallet Momentum. Retail banks on the other hand score higher on Customer Momentum than Wallet Momentum. However, the study concludes that no single type of financial institution dominates in either performance matrix. Most financial institutions strive to become their customers’ Primary Financial Institution (PFI), and have generally been successful at increasing the average number of accounts per individual within the last year (A.T. Kearney 2006). However, the study indicated that investment management firms have more difficult relationships with customers, and that being designated as customers’ PFI does not necessarily ensure success for retail banks. The study also showed that customers who experience two service errors or account problems within one year were 35 percent more likely than the industry average to leave such finan cial institution. This attrition rate doubled after three errors were experienced in one year (A. T. Kearney 2006).The study provides for the following suggestions in order to improve organic growth in financial institutions (A. T. Kearney 2006): ? Institutions with leading Customer Momentum scores have opportunities to cross-sell new products and services, and should determine how to recognize and reward people for selling a â€Å"bundled† set of products when most organizations are organized to measure and reward for selling specific products. ? Products and services to be added or cross-sold must be determined in relation to margins on core products, and the total portfolio, to ensure profitable growth.Cross-selling is less costly than adding new customers, but the mix or products and services is equally important when considering impact on profit. ? Product complexity and product variation makes it difficult for customers to understand a value proposition and for employee s to explain it. This affects both service delivery and transaction effectiveness, and also increases the potential for errors. A financial institution should thus improve its ability to manage product complexity, as a way of improving service quality and overall customer satisfaction.A similar study conducted by Daniel Cox and James Bossert (2005) involved the analysis of the 2004 American Customer Satisfaction Index, which indicate that organic growth for banks have been hampered by the fact that the financial services industry has some of the lowest customer satisfaction ratings of any single industry. According to the study, customers view banks and other financial institutions as a commodity, with no unique reason for forming a business relationship with one particular bank.The study by Cox and Bossert (2005) studied in-depth the strategies employed by Bank of America in 2001 to improve customer satisfaction as one of its driving force to expand its organic growth. Bank of Amer ica started to focus on its organic growth in 2001, which meant increasing its customer base while becoming more efficient by improving processes. It developed a new strategy which relied heavily on voice of the customer (VoC) and tied all its planning efforts to factors that would drive customer satisfaction and loyalty (Cox and Bossert 2005).In other words, Bank of America recognized customer satisfaction as the core component of organic growth. With approximately 28 million customers at the time, the bank encountered approximately 200 customer interactions per second. To improve the overall customer experience, the bank implemented an associate training program called Bank of America Spirit, which was initially modeled to mirror the associate behavior of Disney employees. It re-evaluated its business model and the model’s performance by comparing them to other Fortune 500 companies that focused on customer service.It focused on the following model for improvement as seen i n Figure 1 in the next page: Bank of America regularly surveyed their customers to gather VoC, and used these survey results in turn when developing new products and services. Paying close attention to such customer needs turned out to be instrumental in increasing its revenues and in improving its organic growth (Cox and Bossert 2005). Accenture, another leading management consultancy firm, conducted a global survey of strategies and programs for organic growth in retail banks.In its survey, Accenture examined more than 100 retail-bank executives’ strategies. The firm also provided for an industrialization concept critical for growth in the banking sector – â€Å"Differentiation on the Outside, Simplification on the Inside, Execution Mastery. † The research showed that pure cost-cutting strategies previously adapted by financial institutions produced diminished return. The emphasis on growth, and mainly organic growth, while managing costs as the same time, wou ld produce the best results for a financial organization (Accenture 2006).The study showed that 87 percent of the executives surveyed indicated that increasing revenues is still top priority, mainly driven by the need to satisfy investor expectations. 73 percent also cited the achievement of cost-efficient scale. Fewer than one in ten believed that market growth will exceed 15 percent, while more than 20 percent believed their own banks will grow at a higher rate. To drive significant organic growth, respondents in the Accenture survey emphasized the need for excellence in marketing and product management, distribution and service and fulfillment (Accenture 2006).The study further recommended that to achieve growth targets in an increasingly competitive market, banks must industrialize their marketing, sales and service capabilities to maximize cross-selling. Similar to the findings and recommendations in the study by Cox and Bossert (2005) on Bank of America, the Accenture study in dicated that cross-selling must focus on gaining and retaining profitable customers. Key capabilities necessary to achieve this would involve transformation in areas such as customer segmentation, which should include customer segmentation, product design, and price/value equation (Accenture 2006).The staff study by Rhoades (2000) for the Board of Governors of the Federal Reserve System examined and analyzed bank mergers and banking structure in the US from 1980 to 1998. The study provided that 200 banks failed annually from 1987 to 1989 in the US, due to problem loans in petroleum, agriculture, commercial real estates, and loans to less-developed countries. These factors may have created some good buying opportunities for banks that were performing relatively well (Rhoades 2000). According to the study, the US banking industry experienced an unprecedented merger movement since 1980, with nearly 8000 mergers and about $2.4 trillion in acquired assets as of 2000 alone. The banking in dustry has been restructured in response to the removal of legal restrictions on intrastate and interstate banking throughout 1980-1998. The number of banks in the US decreased from 14407 to 8697 and the number of banking organizations decreased from 12342 to 6839 (Rhoades 2000). In his study on mergers in the US banking industry, Rhoades (2000) provided for the following conclusions: ? The number of banking offices continued to grow in the US throughout the 1990s despite the burgeoning of ATMs and ATM transactions.? Concentration of control over aggregate US bank deposits among the largest banks increased substantially, with the share of the 100 largest rising from about 47 percent to 71 percent, and the share of the 10 largest rising from 19 percent to 37 percent; the latter rise occurred mostly after 1990. ? Concentration increased substantially in many local banking markets, especially in large metropolitan areas. ? The number of bank mergers reached the highest level for the pe riod in the mid-1980s, when industry profit rates and stock prices were very low (Rhoades 2000).But what exactly motivates firms to merge and how do these mergers affect competition and the economy? According to Moore and Siems (2006), there are two primary factors that affect the need for financial institutions to remain competitive: deregulation and technology. Deregulation has significantly changed how and where banks do business. Relaxation of restrictions on banks’ securities activities has blurred the traditional distinction with investment banking while the elimination of branching restrictions has created vast geographic expansion possibilities.Continued consolidation is estimated to eventually result in about 3000 banking organizations, with a handful of â€Å"super banks† competing simultaneously with many smaller community banks. Advancements in technology have also created incentives to merge due to decline in costs in information dissemination, allowing fo r far-flung operations created through mergers. In other words, technology and deregulation have blurred accepted boundaries as to time, geography, language, enterprises and regulations in the banking industry (Moore and Siems 2006).Thus, one advantage for mergers is that customers can receive one-stop financial services. This allows for greater efficiencies through better information flows and lower transaction costs for the financial institutions involved. However, studies show that major upside for earnings and stocks through mergers is if the economy continues to show stronger-than-expected growth, which in turn could increase demand for commercial lending. If the economy slows down, stock prices become pretty full, and takeovers are less likely to benefit the banks involved (LaMonica 2003).The data used for this research study were gathered from related database found online and from case studies and academic papers. The case studies were conducted by management consultancy fir ms such as Accenture and A. T. Kearney, whereas the working papers were collected from organizations such as the Board of Governors of the Federal Reserve System and the American Society for Quality. Results and findings from surveys and empirical analysis conducted by these research individuals and organizations were used for this paper.News articles from sources such as CNNMoney and other pertinent websites were also used. B. The Sample The data used are primarily case studies gathered from related literature. These were survey results and findings from studies conducted by research individuals and organizations such as Accenture (2006), A. T. Kierney (2006), and Cox and Bossert (2005). The findings analyzed for this paper were conclusions and results from the empirical data from surveys conducted in 2005 and 2006 from the various existing case studies reviewed. C. Research DesignThe research question for this paper is â€Å"Whether US banks should focus on organic growth or merg ers and acquisitions in order to expand their business? † The hypothesis is that â€Å"Customer satisfaction, through focusing on VoC, is the key component to organic growth which is the recommended business expansion activity for financial institutions over mergers and acquisitions. † The hypothesis will be answered based on the analysis of the findings and insights gleaned from case studies and related literature. The study will make use of Qualitative Research Methodology.Numerical and statistical data were not gathered due to time constraint and physical limitations on conducting surveys in the financial institutions throughout the US. Based on qualitative analysis, the research paper thus approaches the study by providing a complete, and detailed description of organic growth and mergers and acquisitions in the banking sector based on a study of related literature. Based on the qualitative research approach, the researcher is the data-gathering instrument, and the data herein provided is in the form of words and pictures, as indicated in Figure 1 (Neil 2006).IV. Analysis of Results and Findings Results from the analysis of the case studies provided indicated that many financial institutions recognize the need for growth, whether it be through organic growth, mergers and acquisitions, or both. Many financial institutions are also aiming for annual organic growth rates of at least 10 percent or higher, but often, they fall short due to a variety of factors (A. T. Kearney 2006). An examination of the data provided would show that organic growth and mergers and acquisitions benefit two different groups.The organic growth of a company would benefit the bank itself, but more than anything, it will result in a greater advantage and benefit to the customers. The reason behind this is that studies have indicated that successful organic growth is premised on customer satisfaction as its most important component. To achieve high performance, increase re venue, and exceed their average growth rate, financial institutions must finds ways to harvest relationships with existing and new customers. Cross-selling will help increase share-of-wallet from both existing and new customers.However, cross-selling efforts must be accompanied with managing product complexity since customers have become increasingly aware of the range of banking and financial services available. Less than adequate products or poor service will cause the customers to shop around and switch service providers, especially since banks are treated more as commodities rather than business partners by their banking clientele. Thus, cross-selling must be utilized to gain and retain profitable customers (Cox and Bossert 2005; Accenture 2006; A.T. Kearney 2006). Banks would necessarily have to improve their marketing, sales, and service capabilities to maximize cross-selling. To achieve this, customer segmentation, product design, and price/value equations should be closely m onitored in relation to customer relationship management. Gathering of customer data will help management to ascertain customer needs and to adjust and improve market and product management, distribution, service and fulfillment accordingly.Full integration of customer data provides for an accurate and complete view of the customer, and will allow for an empowered and better-trained sales force to turn customer insight into profitable and satisfying interactions (Cox and Bossert 2005; Accenture 2006; A. T. Kearney 2006). A model for a successful venture into improving customer satisfaction to increase its organic growth is the case of Bank of America.By establishing a customer satisfaction goal, which provides for a measurement process to evaluate current performance and to acquire analytical capability to improve performance in a targeted way, Bank of America was able to streamline its products and services to effectively retain and increase its customer base. By relying on VoC, an d tying all its planning efforts to factors that would drive customer satisfaction and loyalty, Bank of America improved its organic growth (Cox and Bossert 2005).Focusing on organic growth will result now only improve customer satisfaction, increase customer base and profit, but will also drive wealth creation for shareholders (A. T. Kearney 2006). On the other hand, mergers and acquisitions provide a greater advantage to the financial institutions themselves. A company with financial problems will benefit from merging with a stronger company. The latter, in turn, would gain a greater market share and reduce competition in the industry by acquiring smaller or similarly situated institutions.Advancements in technology and less legal barriers regarding financial transactions have also allowed financial institutions to cover wider geographical areas. This in turn benefits the customer as well since the bank becomes a one-stop-shop for banking transactions, available wherever the custo mer may be. Deregulation and technology have been key factors in the drive for mergers, and have lead to significant cost-cutting measures for the firms involved. It has also provided for greater efficiencies and information dissemination to the financial institutions, which in turn provides for greater flexibility and convenience for its customers.One safeguard for baking institutions which opt for mergers and acquisitions to expand its growth is Rule 155 under the Securities Act, also known as the â€Å"Integration of Abandoned Offerings† which was passed by the Securities and Exchange Commission (SEC). SEC amended Rule 152 of the Securities Act of 1933 in response to the challenges under previous securities regulations and the changing market conditions. Rule 155 became effective on March 7, 2001, and has had significant impact on companies seeking alternative financing in light of a weakened securities market.It provides for a flexible framework in which companies can con vert their private offerings to registered offerings and the other way around, minus the usual risk of integration. The rule provides non-exclusive safe harbors from the integration between registered and private offerings, and allows issuers to move more quickly if market conditions change rapidly (Marek and Seo 2001). Before Rule 155 was enacted, a financial institution with a failed registered offering was limited in the choices it subsequently had to raise capital.It could either withdraw or abandon a registered offering, but would encounter difficulty in quickly obtaining alternative funding due to unclear regulations on integration. A company that started a private offering may have found sufficient investor interest to justify making a registered offering, but was faced with making offers of registered securities prior to filing a registration statement. Before Rule 155, there were thus no clear guidelines as to how a company can insulate itself from the risk of mergers and a cquisitions.SEC’s prior guidelines in this area were limited to suggesting a six-month â€Å"cooling off† period as well as a traditional five-part test involving consideration of whether two or more offerings (Marek and Seo 2001): ? Are part of a single plan of financing; ? Have the same general purpose; ? Involves the same class of security; ? Are made at or about the same time; and ? Involve securities sold for the same type of consideration. The adoption of the new Rule 155 provides for reliefs for financial institutions (and other institutions in different industries) who opt to participate in mergers, acquisitions, or take-overs.The new Rule 155 does not change the traditional five-factor analysis approach of SEC but clarifies the implication of integration in two specific types of transactions (Marek and Seo 2001). Rule 155 creates integration safe harbors for two types of common transactions: 1) a registered offering following an abandoned private offering; and 2) a private offering following an abandoned registration offering. The term â€Å"private offering† is specifically defined to include only the offerings that qualify for one of the following exemptions: (i) Section 4(2) of the Securities Act, for transactions not involving a public offering;(ii) Section 4(6) of the Securities Act, for transactions that do not exceed $5 million and involve offers and sales only to â€Å"accredited investors†. Or (iii) Rule 506 of Regulation D, for transactions involving offers and sales to an unlimited number of â€Å"accredited investors† and no more than 35 purchasers who, although not accredited, are â€Å"sophisticated† (Marek and Seo 2001). Thus, safe harbors in Rule 155 sets forth clear guidelines under which a company may change its offering between registered and private offerings without the risk of integration.It provides greater flexibility to companies such as financial institutions in this case which seek f inancing in this changing market (Marek and Seo 2001). V. Summary and Conclusions The case study on Bank of America is a model on how focusing on customer satisfaction can further enhance organic growth for a financial institutions. By establishing a customer satisfaction goal, a financial institution can set up a measurement process in order to evaluate current performance and acquire analytical capability to improve performance in a targeted way (Cox and Bossert 2005).Gathering information about the customers will allow a company to streamline its products and services to meet customer needs. This also allows for greater opportunity for more effective cross-selling which will help increase share-of-wallet from both existing and new customers. Institutions with high levels of customer satisfaction, or customer momentum, need to look at products and services through the eyes of the customer and should simultaneously listen to the VoC.There is a need to recognize and reward people fo r selling â€Å"bundled† sets of products rather than merely focusing on measuring and rewarding sales associates for selling specific products only (A. T. Kearney 2006). A financial institution must also take note that products and services to be added or cross-sold must be determined in relation to margins on core products to ensure profitable growth. The mix of products and services offered to customers is equally important when considering their impact on profit.Many financial institutions have limited insight into the true profitability of specific products which makes the development of an economically-attractive bundle (whether from the customers’ or the institutions’ perspective) problematic (A. T. Kearney 2006). As such, managing product complexity is also important. To better serve their customers, sales associates must understand their products, and when a bank has too many products and services on its platter, its employees tend to be less knowledgea ble about what to offer or cross-sell to their customers.Managing product complexity will allow for improvement in the product cost/price relationship and will help customers understand a value proposition. It can help improve both service delivery, transaction effectiveness, and decrease the potential for errors within the financial institution (A. T. Kearney 2006). Thus, effective organic growth should focus on customer satisfaction or VoC as its key component. Mergers and acquisitions however provide for opportunities for financial institutions to gain a greater market share, improve cost-cutting measures, increase profit, and eliminate competition.Ailing financial organizations also have a better chance for survival by being merged with stronger banking counterparts, while the latter gain a stronger foothold in the market through such acquisitions. .The new Rule 155 adopted by the SEC in provides for safeguards for financial institutions in case of such mergers, acquisitions and take-overs. It provides for non-exclusive safe harbors from the integration between registered and private offerings, and allows issuers to move more quickly in case market conditions change quickly.The rule provides for clear guidelines in which a financial institution may change its offering between registered and private offerings without the risks normally associated with integration (Marek and Seo 2001). Deregulation, such as through adoption of the new Rule 155, and technology have been identified as two of the driving forces why banking institutions merge. Technology on the other hand has literally allowed banks to cross borders, and have made limitations as to time, geography, and boundaries practically non-existent.Information dissemination through the speed of technology has allowed mergers across continents, and for such financial institutions to grab a large slice of the market share. It has also provided for flexibility and convenience to customers. However, one threat to this form of business expansion is the formation of â€Å"super banks†, similar to what is happening in the retail sector wherein only a small number of key players dominate the industry. This may potentially affect customer needs, as the competitive edge remains with a select set of power players in the banking sector.The lack of boundaries, such as having branches in different parts of the globe, may also hinder optimum customer satisfaction, as a financial institution’s operating procedure remains uniform and standard, but customer needs always differ per area, region, or continent. Institutions will use both organic growth and mergers and acquisitions to grow and expand their businesses. But what can be concluded is that those financial institutions with business models that push for strong organic growth make more successful acquirers (A. T.Kearney 2006). Since they understand the needs of their clients better, the services and products they offer tend to be m ore appropriate and thus more cost-effective and profitable. By knowing their customers, and ultimately the strengths of their organizations, then institutions with strong organic growth models are better capable of acquiring and merging with other banking institutions in the future. VI. Future Research The preliminary research in this data indicated case studies from surveys conducted on the banking sector for 2005 and 2006.Trends with regard to organic growth and mergers and acquisitions in the financial sector were analyzed. Future research in relation to this study could include analysis of empirical data from major banking institutions and a comparison of their profit rates from their organic growth and mergers and acquisitions. Sample sizes may include banks which focus on both organic growth and mergers and acquisitions, and banks which monitor organic growth alone and do not participate in mergers. Such data may be gathered from interviews, surveys, and requests for financia l reports from respondent banks.WORKS CITED Cox, Daniel and Bossert, James. Driving Organic Growth at Bank of America. American Society for Quality. Feb. 2005. 28 Nov. 2006. http://www. asq. org/financial/bank-of-america-case-study. html Investment Firms Improve, Retail Banks Slip in A. T. Kearney’s Annual Organic Growth Index for Financial Institutions. A. T. Kearney. 12 Sept. 2006. 28 Nov. 2006. http://www. atkearney. com/main. taf? p=1,5,1,177 LaMonica, Paul R. Bank merger mania is back. CNNMoney. com. 27 Oct. 2003. 28 Nov. 2006. http://money. cnn.com/2003/10/27/markets/banks/ Mergers and acquisitions. Wikipedia, The Free Encyclopedia. 2006b. 28 Nov. 2006. http://en. wikipedia. org/wiki/Merger Mergers and Acquisitions: Introduction. Investopedia. 2006c. 28 Nov. 2006. http://www. investopedia. com/university/mergers/ Mergers and Acquisitions: Definition. 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