The fierce competetion between the conventional and islamic banks at Case Study

The fierce competetion between the conventional and islamic banks at the Kuwait finance bank in Bahrain - Case Study Example This has resulted in the process of tremendous competition in the marketplace. In an effort to sustain in the well connected and highly competitive global marketplace, companies around the world are significantly asking for large loan amounts in order to fuel their organizational growth needs. On the other hand, the consumers in an attempt to maintain a suitable lifestyle are focusing on the process of acquiring financial support for the purpose of acquiring homes, vehicles and other necessary products and services. This is triggering the need for financial support services from banking institutions around the world. However, the banks in an attempt to maintain profits are providing loans on competitive and attractive interest rates. However, talking on this note, it can be said that the effect of macroeconomic factors like slowdown of productivity in the developed countries, credit crunch and Euro Zone crisis are playing significant roles in the process of determining the rate of in terest on the financial loans in banking systems around the world. ... With the growth of business operation in the Middle Kingdom, a particular style of banking was introduced in an attempt to fund the large scale business operations of that time. During those early days of banking, the financial institutions used to charge riba. The riba in various Arabic and Middle East religions dialects is represented and meant as a bite to the pain inflicted upon the debtor (Ahmed 2011) . Riba in simple terms represents the interest rates on a loan (Bakar, â€Å"Riba and Islamic Banking And Finance†). However, with regards to the Islamic Law which is referred as Shari’aa, Muslims were not allowed to deal in riba and it was declared as a highly prohibited action, which will attract sin. As a result of this, when the Europeans of those times focused on developing the trade channels with the Ottoman Empire by doing business through the interest based loan and banking system, the local business community rejected the offers. This led to the formation of a culture among the Muslim community to avoid loans altogether. In the recent times, a lot of development has happened with regards to the initiative taken King Faisal of Saudi Arabia in 1974 to develop a banking system, which follows the Islamic law (Rahman 2010). The years after that followed a generation of a significant amount of interest for the purpose of building and developing a more sophisticated and modernized version of the pre-existing methods related to Islamic banking. It can be said also highlighted in these regards that the process of re-emergence of the Islamic banking system was to some extent fuelled by the desire of the Muslim communities to stay clear of any kind of financial

Patch 1,2 and 3 Essay Example | Topics and Well Written Essays - 2250 words

Patch 1,2 and 3 - Essay Example People are, in most cases,compelled to learn more than one language at a time, the existing knowledge of a native language affects both the pace, and level that one learns a new language. Young learners always think in their native language and relay the information in the new language. This breaks a number of semantic rules governing the use of the new language and if not corrected in time, its effect may last to affect how he or she uses the new language. Additionally, the teacher of the new language and his native language influences the manner in which their students learn the new language. In the Western world, students of new language always seek the services of a native speaker of the new language or travel to a country of the new language to learn. In the developing world, students learn second hand languages taught by fellow natives. The teachers therefore break a number of rules and pass the broken languages to their students. This explains why the English spoken in a numbe r of African countries is either pronounced differently or infused will local pidgins. The student in the case study suffers from the influence of mother tongue too. From the way he writes, it is clear that he is not an English native speaker. French sounds like English in a number of ways, some of the French words sound and mean the same to other English words. However, the greatest difference between English and French is the French attach gender to most of its words and sentences. From the write up, it is evident that the writer is trying to keep up with the English language requirements but because he keeps thinking in French, he finds himself attaching a gender to some of the English words. A remedy to this is constant practice and the ability to detach from the use of a native language while learning a different language. It is never possible to abolish the use of the first language especially when learning another but learners need concentrate on the new language and use the semantic rules of the new language. This way, they minimize the number of grammatical mistakes they make on the new language. This also makes the learning a lot faster. Another key factor that affects a learner’s ability to learn and use a new language is age. This factor is debatable but most scholars concur that young learners usually master the rules of a new language faster than older learners do. In young age, people are not preoccupied with other businesses, as is the case in old age. Children will therefore concentrate more on the new language and master it faster. Additionally, this has also contributed to the fact that children interact more with their peers than adults do. It is in these interactions that they learn from their colleagues the new language and the rules that govern the usage of the new language. Despite the faster speed of learning a language at a younger age, it is also evident that young learners have a tendency of forgetting a language that they do not use faster. There is no remedy to this apart from continuous practice and the usage of the multiple languages one learned. The writer in this case is an adult learner. His age is best determined based on the issues he addresses in his article. Some of the themes he struggles to raise are those that children cannot possibly comprehend. Writing is different from speaking.

Retailing and Wholesaling MBA (Masters Level) Essay

Retailing and Wholesaling MBA (Masters Level) - Essay Example Value-added resellers normally have a disadvantage in cost structure compared to channel members that compete mainly on the basis of price or convenience, such as discount stores or mail-order firms. This means that the value-added reseller in a diverse multiple channel context must either (1) charge a higher price than other channel members based on the provision of valued services or (2) live with a relatively small gross margin (Dunne and Lusch 2007). Professor Leo Aspinwall advanced the depot theory to explain some of the reasons for the changes that have occurred in the physical handling and storing of goods, the growth of manufacturers' wholesale branches, and the changing position of general-line wholesaling. The depot theory of distribution states that goods tend to move toward the point of final consumption at a rate established by the ultimate consumer. The theory views depots as places that move rather than store goods -- that get goods to retailers at the lowest handling and transportation costs (Dunne and Lusch 2007). Accordingly, a steady flow of goods is envisaged from production to final consumption. The intermediaries facilitating the flow are in essence depots that perform a largely service function on the basis of costs of services performed, and so tend to eliminate merchandising profits. For example, backward integration of retail food chains and cost-plus wholesalers illustrate the performance of the depot func tion and the elimination of merchandising costs (Dunne and Lusch 2007). If the retailer links with independent channel members in one or several of its multiple channels (e.g., it uses independent sales representatives), the same basic challenges faced by the manufacturer in utilizing multiple channels could be faced by the retailer as well. Intrabrand or intratype competition could be heightened in the territories served by the retailer's multiple channels, prices and margins could be reduced, conflicts and alienation could arise, and support and control could wane (at least in the independent channels) (Dunne and Lusch 2007). The functions of retailers in the channel have been to assemble merchandise, maintain an inventory, price, promote, advertise, sell, and account for the merchandise, again as a service to the manufacturer and the ultimate consumer. Further, retailers have also provided a place for consumers to shop and find other services that might assist them in obtaining or using the available goods. The channel systems that have developed and, granted, have been improved over the years, have been built on some very basic beliefs about consumers, their needs and wants, and what they are willing to accept from channel members. It is these basic marketplace assumptions that are being challenged by direct and database marketers (Dunne and Lusch 2007). As was discussed earlier, technology and communication allow consumers to learn about and demand increasingly differentiated and even personalized products. As this occurs, the traditional economies of scale that have accrued to those manufacturers and retailers with extensive facilities and large sales volumes are no longer important in the marketplace. Smaller companies, using technology and direct and database marketing approaches, can compete not only effectively, but in many cases more efficiently than can large companies. As technology expands and sales-driven inventorying become

Patch 1,2 and 3 Essay Example | Topics and Well Written Essays - 2250 words

Patch 1,2 and 3 - Essay Example People are, in most cases,compelled to learn more than one language at a time, the existing knowledge of a native language affects both the pace, and level that one learns a new language. Young learners always think in their native language and relay the information in the new language. This breaks a number of semantic rules governing the use of the new language and if not corrected in time, its effect may last to affect how he or she uses the new language. Additionally, the teacher of the new language and his native language influences the manner in which their students learn the new language. In the Western world, students of new language always seek the services of a native speaker of the new language or travel to a country of the new language to learn. In the developing world, students learn second hand languages taught by fellow natives. The teachers therefore break a number of rules and pass the broken languages to their students. This explains why the English spoken in a numbe r of African countries is either pronounced differently or infused will local pidgins. The student in the case study suffers from the influence of mother tongue too. From the way he writes, it is clear that he is not an English native speaker. French sounds like English in a number of ways, some of the French words sound and mean the same to other English words. However, the greatest difference between English and French is the French attach gender to most of its words and sentences. From the write up, it is evident that the writer is trying to keep up with the English language requirements but because he keeps thinking in French, he finds himself attaching a gender to some of the English words. A remedy to this is constant practice and the ability to detach from the use of a native language while learning a different language. It is never possible to abolish the use of the first language especially when learning another but learners need concentrate on the new language and use the semantic rules of the new language. This way, they minimize the number of grammatical mistakes they make on the new language. This also makes the learning a lot faster. Another key factor that affects a learner’s ability to learn and use a new language is age. This factor is debatable but most scholars concur that young learners usually master the rules of a new language faster than older learners do. In young age, people are not preoccupied with other businesses, as is the case in old age. Children will therefore concentrate more on the new language and master it faster. Additionally, this has also contributed to the fact that children interact more with their peers than adults do. It is in these interactions that they learn from their colleagues the new language and the rules that govern the usage of the new language. Despite the faster speed of learning a language at a younger age, it is also evident that young learners have a tendency of forgetting a language that they do not use faster. There is no remedy to this apart from continuous practice and the usage of the multiple languages one learned. The writer in this case is an adult learner. His age is best determined based on the issues he addresses in his article. Some of the themes he struggles to raise are those that children cannot possibly comprehend. Writing is different from speaking.

The White Dress Poem Essay Example for Free

The White Dress Poem Essay The White Dress is an expressionism poem discussing a powerful, universal connection with the dress hanging in the woman’s closet. She analyzes how she thinks the dress sitting in the closet would feels, should it be alive, ready to be at her service upon demand, cosmetically. When she wears decorative highly fashionable dress, the dress becomes a part of her, and the woman becomes part of the dress. The two are inseparable, like she is describing two special people feel towards each other. The white dress described in this poem is a formal dress, taken out for special occasions. Of all the dresses in her closet, and even other white dresses in her closet, this is the dress she writes an analytical emotional poem about. Perhaps she is discussing a one time special occasion when she was wearing the dress, perhaps when she got engaged, met a special friend, or maybe she is expressing her desire to wear the formal reserved dress more often.   The deep fascination she has with the dress is very intriguing, because the strongest emotional empowerment she feels to the dress is invisible, but overwhelming.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In her line in the first paragraph â€Å"We itch to feel it, it itches to feel us, it feels like an itch† (Emanuel, par. 1 lines 3, 4). This line is saying there is an underlying emotional reason why she was attracted to purchase that particular dress in the store, amongst all other dresses. Everyone, or at least all women, experience this â€Å"sudden click† when they see a dress or other item when shopping. There are items everyone buys, for example everyone needs clothes. Most clothes are purchased because the look good, or we need them for something coming up. Then there are items that click with us. When this happens, we always just happen to have the money, sometimes it may be barely enough, and more often than not, it is on clearance or better than average price. When she talks about mutual â€Å"itch† she is describing that sudden click when we see an item calling out to us in the store.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Next paragraphs she speaks about its decorations, the actual character or identity of the dress. â€Å"Encrusted with beading, its an eczema 5 of sequins, rough, gullied, riven, puckered with stitchery† (Emanuel, Par. 2 lines 5, 6, 7). †Bouquet of a woman’s body, or its armor and it fits like a glove.† She is saying she becomes the decorations, comparing her body to a bouquet of flowers, the dress acting as a vase. There is a phrase or saying in professional ballroom and salsa dancing, the man is the frame and the woman is the picture. The dress frames or outlines her body, like a vase, but she is the actual attraction inside the dress. But she is enslaved to the dress to make her look good. â€Å"When we’re in it we’re machinery.† (Emanuel, Par 4, line 13).   Ã¢â‚¬Å"Right now it’s lonely locked up in the closet; while we’re busy fussing at our vanity† (Emanuel, Par. 5, 6 Lines 15, 16, 17).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The tonality of this poem is consistent from beginning to end. A woman talks about a formal dress in her closet reserved for special occasions. She obviously had a very special event with the dress, probably meeting a special person or friend who made am important impact on her life. Not many of us think about any of the clothes sitting in our closet, not even the formals that stand out until we are planning an occasion we will wear the dress, or within the first few moments we bring it home. There is a hint of guilt in some of her lines, talking about the dress sitting in the closet, waiting for it to be called upon again.   This poem sums up her powerful invisible connection to the dress, talking about it like it much more than just another item. She identifies herself with the dress, almost like she is becoming another person or going into another realm of the universe when she puts on this dress.

An analysis of the budgeting in management accounting

An analysis of the budgeting in management accounting With the fast development of in the area of management accounting, more and more managers are aware of the importance of the budgeting, budgeting is an important control system in almost all organizations (Stephen C. Hansen, Wim A. Van der Stede, 2004, Management Accounting Research, Multiple facets of budgeting: an exploratory analysis,), and it provides an expression of the steps which management must take in the current period if it is to fulfil organizational objectives. (M.W.E.Glautier and B.Underdown. (1997) Accounting Theory and Practice, p531, 6th Edition, Great Britain: PITMAN PUBLISHING). This paper will discuss that what is budgeting and the budgeting committee, the budgeting purpose and types of budget, the benefits and limitations in the budget, and how to be a successful budgeting. The budgeting process focuses on the medium term period, normally one year, and it is an expression of plan in monetary terms, which is aim to achieve the organizational objectives, as Colin Drury said the budget is a financial plan for implementing the various decisions that management has made.(Colin Drury. (2008) MANAGEMENT AND COST ACCOUNTING. p10, 7th Edition, China: GENGAGE Learning) The various decisions are covered in cost and revenues, cash flow, assets and liabilities. In additional, the annual budget likely to be sub-divided for reporting periods, such as monthly budget reports, because the risk can be reduced in the monthly budgets and it helps managers easy to find the problems during the operation. In organizations, budgeting is often in the hands of a budgeting committee (M.W.E.Glautier and B.Underdown. (1997) Accounting Theory and Practice, p533, 6th Edition, Great Britain: PITMAN PUBLISHING), so the members of the budget committee is very important. For example, in the sales budgeting process, marketing department may be deliberately underestimated future sales, thus contributing to their performance evaluation. However, underestimate the quantity of sales will result in a corresponding reduction in production, which means the production will not be able to achieve the most efficient state. Another example, some department may padding the expenses in order to get more budget funds, resulting in a waste of money. Therefore, the budget committee should consist of the various important department managers, and some high-level executives be the leader. Furthermore, it usually has an accountant to be the budget officer in the budget committee, the role of the budget officer is to coordinate the individual budgets into a budget for the whole organization, so that the budget committee and the budgetee can see the impact of an individual budget on the organization as a whole. (Colin Drury. (2008) MANAGEMENT AND COST ACCOUNTING. p357, 7th Edition, China: GENGAGE Learning). The budgeting purposes and types of budget setting There are six useful purposes of budgeting, which are planning, coordinating, communicating, motivating, controlling and evaluating. Therefore, the budget will help managers through the planned activities to determine the target of the organisation and allowed managers to consider all possible situations. however it not only to reflect projected revenue and expenditure budget as of the amount of financial figures, the budget is a kind of resource allocation, input and output of the program content, quantity, and the input-output timing details. Through the budget, so that business managers can have clear objectives. In addition, the budget serves as a vehicle through which the actions of the different parts of an organization can be brought together and reconciled into a common plan. (Colin Drury. (2008) MANAGEMENT AND COST ACCOUNTING. P355, 7th Edition, China: GENGAGE Learning) and it is an effective way of the communication in the organization. Managers and staff can be motivated b y the budget because of it can help to enhance the predictability and avoid blind behavior and thereby to motivate they to complete the objectives. The Budget is based on quantitative way to show management standards, it can thus be judged according to the budget implementation effectiveness of the work and analyze differences improve their work. Two types of the budget setting are top down and bottom up. The table of illustration as following TOP DOWN BOTTOM UP OVERALL BUDGET FUNCTIONAL BUDGETS DEPARTMENTAL BUDGETS In the top down way, it typically start with overall budget then broken down into functional budgets and then into departmental. If budget setting is top down, it can be directly link to the organization objectives and reflected to the authority and mandatory of budget. However, it may be limited of the information from lower levels thus that separated from reality and may reduce the effect of budget in planning, coordination and control. On the other hand, in the bottom up way, it typically start with departmental budgets then build up into functional budgets and then into overall budget. Similarly, if budget setting is bottom up, although it can solve the lack of the information from lower levels, but the exchange of information in each department may be not enough thus plans of one department is conflict with others, therefore the lack of coordination will arise. To solve those problems, the budget setting should be repeated between individuals and the budget committee. Firstly, the objectives proposed by the budget committee, such as the quantity of sales, production costs and target profits. Next, use those indicators to discuss with the various departments in order to reach an agreement, and then the budget committee will based on the agreement to determine the master budget and give to the departments. After this, the various departments based on the master budget to set out departmental budgets and build up into functional budgets. Finally, the budget committee use those individuals budget to set out the final master budget and gives to each department. The benefits and limitations The budget has some benefits to the organization, and it will show in the figure as follow: Provide a basis for a system of control Budgets Provide a system of authorization Help co-ordinate the various sections of the business Motivate managers to better performance Promote forward thinking and identification of short-term (Perter Atrill. Eddie McLaney. (2008) Accounting and Finance for Non- specialists. P312. 6th edition. Essex: Prentice Hall Europe.) However, the budget has also been found a number of limitations, such as the time lag in the system, which means the results of last month may not be reported in time and be delayed to next month or later. Moreover, there will always be some changes in the organization during the budget period; such as the shortage of funds, labour and materials, and the budget may be impacted thus the objective of organization cannot achieve the optimal state. To be successful budgeting As we have discussed in this paper, there are some limitations of the budget, and those limitations may lead to it hard to implement and dissatisfaction may express regarding how budgeting operates in practice. The following is some way to solve those problems and make the budgeting more successful. Firstly, the budget should be always concerned to achieve the objectives of organization, and need to avoid to only focus on its own target, the reasons of the budget may only focus on its own target and forget the objectives is that it may not properly reflect the requirements of objectives.. In order to prevent the replacement of the budget target, it should enable the budget to more reflect with the organizations objectives. Secondly, the budgeting should be flexibility, it because of that business conditions are always changing. Although we have planned the business conditions for the situation may occur in the future and make appropriate action to deal with changes, but on the one hand the budget setting cannot cover everything, and on the other hand the situations are always changing that some problems cannot be foresee. Therefore, it is necessary to view the budgeting process as a guide to future action, rather than a rigid plan which must be followed irrespective of changing circumstances.(M.W.E.Glautier and B.Underdown. (1997) Accounting Theory and Practice, p532, 6th Edition, Great Britain: PITMAN PUBLISHING) Conclusion In conclusion, budgeting is an important tool for management planning and control, and it has some useful functions for businesses and organizations, but it also has great limitations. The key point in the budgeting is make the benefits of it to be maximum, and reduce the limitations and solve problems during the period, thereby the budgeting can be achieved the most effective level. References ¼Ã… ¡ Colin Drury. (2008) MANAGEMENT AND COST ACCOUNTING. 7th Edition, China: GENGAGE Learning M.W.E.Glautier and B.Underdown. (1997) Accounting Theory and Practice. 6th Edition, Great Britain: PITMAN PUBLISHING Perter Atrill. Eddie McLaney. (2008) Accounting and Finance for Non- specialists. 6th edition. Essex: Prentice Hall Europe. Stephen C. Hansen, Wim A. Van der Stede. (2004) The electronic journal: Management Accounting Research, Multiple facets of budgeting: an exploratory analysis. P415-439. ScienceDirect [online] ¼Ã… ½ Available at ¼Ã… ¡http://www.sciencedirect.com/science?_ob=ArticleURL_udi=B6WMY-4DN9VP9-1_user=128592_rdoc=1_fmt=_orig=search_sort=d_docanchor=view=c_searchStrId=1095268002_rerunOrigin=google_acct=C000010620_version=1_urlVersion=0_userid=128592md5=f55e2a67d72ee304d2f1bc3f24de73eb

Entrapment and Confinement :: essays research papers

People encounter restrictions and restraints daily: doors, walls, gates. The most frequently used and arduous are those that are intangible, be it in a job or social life, whether physical or emotional, literal or figurative. Both the tangible and intangible are seen in Charlotte Perkins Gilman’s â€Å"The Yellow Wallpaper† and John Steinbeck’s â€Å"The Crysanthemums†. Though written by members of the opposite sex, both authors are able to capture the feelings of physical and emotional imprisonment that causes a gradual mental breakdown. â€Å"The Yellow Wallpaper† traces the treatment of a woman who descends from depression to madness in the male-imposed psychiatric confinement of her room, while the wife, Elisa, in â€Å"The Crysanthemums†, reflects an internal struggle with herself to find her place in a world of definite gender roles. The situations of the two women are similar: talents and dreams, hopes and desires, shunned by the husb ands and times of the women, which leads to hysteria; though similar, the women to conduct themselves ways drastically different from one another, which determines whether the women lose their sanity.   Ã‚  Ã‚  Ã‚  Ã‚  The narrator in â€Å"The Yellow Wallpaper† and Elisa Allen of â€Å"The Crysanthemums† both have husbands who fancy the idea of knowing what their wives want and need. With such attitudes and beliefs, these men contribute to the feeling of confinement that ultimately leads to the loss of sanity of their wives. The narrator’s husband also assumes that he knows what is best for his wife. He thinks isolation and confinement will cure her â€Å"nervous depression.† Nevertheless, this â€Å"cure† makes her weak; it transforms her into a woman gone mad. On the way to dinner, Elisa asks her husband about the fights and his immediate reply is, â€Å"We can go if you want, but I don’t think you would like them much.† He cannot fathom the idea that she may actually enjoy this non-feminine event.   Ã‚  Ã‚  Ã‚  Ã‚  The two women follow the pattern of those going mad: eventually, they begin to see things and form relationships with the images that reside only in their minds. The narrator gives into the figments of her imagination and begins to metamorphose this â€Å"thing† she imagines behind the wallpaper as a hallucinogenic image of herself. This â€Å"woman† becomes a deadly combination: best friend and worst enemy. She views the woman as trapped, and, in order to free herself from this non-fulfilling life, she must free the woman. Elisa also receives an uninvited guest, a tinker who she perceives as the perfect emblem of freedom.