Bonus Banking Case of UBS

Bonus Banking Case of UBS Introduction Background Employees of financial institutions have been considered for quite some times as being among the top earners in the country. Indeed, financial service organizations have defended their compensation and bonus structure, claiming that it helps them attract, recruit and retain the best talent. In addition, these organizations have previously claimed that their employee are remunerated based on their performance.Advertising We will write a custom report sample on Bonus Banking: Case of UBS specifically for you for only $16.05 $11/page Learn More Therefore, employees will be motivated to work hard and in return create long-term value to all the organizations’ stakeholders. On the other hand, it would be expected that when an organization underperforms, the employee will similarly be affected and hence their bonus reduced (Pert Clark 2010) However the recent events, prior and during the global financial crisis, have clearly proved t hat this has not been the case. Most financial institutions were heavily criticized for their continuous persistence of highly rewarding their employees, especially top executives, despite their poor financial performance. In deed, there is clear evidence to support this augment. For instance, despite Citigroup and Merrill lynch, suffering losses of not less $ 27 billion dollar, they still paid bonuses; the first one paying $ 3.6 billion and the latter $ 5.3 billion. Likewise, Morgan Stanley, Goldman Sachs and JP Morgan Chase, in the year ending 2008, paid out bonuses that were higher than their annual earnings. To be specific, Morgan Stanley paid $ 4.5 billion dollar despite making $ 1.7 billion. Similarly, JP Morgan chase paid 8.7 billion dollar after making $5.6 billion and, last but not, least, Goldman Sachs paid $ 4.8 billion while the earning was $ 2.3 billion (Pert Clark 2010). Such actions lead to a public outcry by various stakeholders; including shareholders, the media, r egulators and even some of the staff. In addition, it strained the relationship existing between these institutions and their customers, with most of them perceiving the organization as to lack accountability and integrity. Certainly, the institutions have come to the realization that the previous systems of incentive do not serve their intended duty of creating the long-term value. It is for this reason; they have opted for other alternatives, such as Bonus banking, which they believe will create both short-term and long-term value by building greater relationships with stake holders such as customers and employees (Pert Clark 2010; Watkins Warren 2010).Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Aim This report will therefore aim to investigate the potential of bonus banking. It will study the benefits of this compensation by comparing it to the previous system. Studying UBS, a financial institution which has opted for this approach, will give a clearer picture. Case Study: UBS UBS is among the largest financial services organizations in the world. Priding itself with more 150 years of experience, this organization offer wealth management, investment banking and asset management services for corporate, institutions and high net worth individuals around the world. In fact, it is considered as the second world largest private wealth manager. The organization, whose headquarters are in Zurich and Basel, Switzerland, is cited as the biggest in that country. In addition it has over 50 offices around the world, most of them in major financial cities. The bank is also a major employer with about 65,000 employees directly under it (UBS 2010). Just like any other major financial service organization, this institution was had hit by the global financial crisis. By august 2008, it was established that it incurred the biggest lost among its peers in Europe. Ac tually, it was faced by double tragedy. Apart from the effects of the crisis, the organization was charged with allegation of helping its US client evade taxes. These allegations had profound effects on it. They threatened its continuity and hence the government opted to unveil a substantial bail out plan to help it stay afloat. This did not escape the eye of the general public. In view of the possibility of its action affecting its relation with existing and potential new clients, the institution opted to adopt some reforms. Accordingly, a bonus banking system was adopted since it appeared as the best option to counter the perception of greed associated with the institution (UBS 2010; Irv 2009; Kamil Rai 2009). UBS Bonus Banking System According to Christie (2009), bonus banking is an incentive practice whereby a certain amount of annual earned bonus is banked in a special account referred to as a bonus account. The banked bonus is paid in specified proportion in the years followi ng.Advertising We will write a custom report sample on Bonus Banking: Case of UBS specifically for you for only $16.05 $11/page Learn More Its major difference with the heavily criticised bonus plan is the fact that negative bonus also known as mulus can be declared and subtracted from the accumulated bonus. This usually happen, if the employees underperforms and is generally reflected in the organization, especially financially (Pert Clark 2010; Christie 2009). UBS bonus banking system was motivated by the belief, that if properly executed, executives will no longer work for the short-term interest motivated by the annual bonus. This system will target senior executives, division leaders and high risk traders, who are in charge of trading a substantial amount of the institutional capital. The annual bonuses, both in terms of shares and money, earned will be held in special accounts for five years. This stipulation is believed, by its designers, that it wi ll ensure the categorized employees to act in line with corporate strategy, and hence enable the organization achieve both its short and long-term. It diminishes the possibilities of the executive operating with an intention of quickly making short-term gains which will see their annual bonus increase (UBS 2010; Irv 2009; Heineman, Goodman Downes 2009). The employees will be expected to act within the set policies. Performance will be measured and negative bonus applied; if the performance target is missed, are breach of trading rules is experienced, or whereby personal misconduct affects the organization. On the same font, if a financial loss is experienced by the company or any of its division, or any cases whereby asset write-down occurs, the employee in charge will incur a negative bonus. Persistence negative performance can result in completely wiping out bonuses previously earned in terms of shares or a two-third reduction in the amount earned in cash (Irv 2009). Incentive Pl ans and Customer relationship There is, if any, a very thin line between the customers and investors in financial service organizations, such as UBS. For example, all its clients in its investment bank arm double up as investors. Perhaps only in its Swiss Bank UBS, which offer retail services, one can at very minimum observe the difference.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Nevertheless, due to the sensitivity involved in offering the financial service, building a relationship between the institution and the customers can be an uphill task. The connection between executive compensation plans, and global financial crisis affected the relationship negatively. Customer, especially at the UBS, need to feel that their interest is protected and the risk is minimized (Irv 2009; Watkins Warren 2010). UBS and other banks targeting corporate and high net worth individuals have mastered the art of managing customer relationship. Having this group, as a niche market, call for perfectionism. This is because they are usually well aware of their rights as customer and have the capability of easily moving to another FSO that they feel will suit them adequately. Nonetheless, the previous bonus incentive plan has had some benefits. To begin with, if properly linked with the organization’s mission and vision, the incentive would have served as platform of attract ing, recruiting and retaining the best talent. This group of employee would therefore be motivated, posses customer relationship skills and hence ensure the institution enjoys a high revenue and rate of return. Despite attracting great talent at UBS, and various strategic manager outlining the employee incentive plan will help achieve both the short-term and long-term, the approach fell short of expectation. Indeed, this compensation plan was not focused on longer-term objectives. It failed to link the risk and reward and therefore allowed employee to take short term approach that ensured performance in the period appeared favourable. Eventually this affected negatively the organizations by putting the clients’ investments and deposit was at risk. At one point, the risk was too much to bear and the clients opted to end their business. It took the intervention of a former and retired Chief Executive to convince them otherwise (Pert Clark 2010). With the new bonus banking syst em, the relationship between the institution and its clients is expected to improve in the long-term. Employees, especially executive, who a responsible for decisions and actions that can significantly affect the organizations, will automatically be directly affected by both the short and long-term performance of the organization. The potential to either gain or lose bonuses depending on their performance is viewed by many clients as form of increasing both institution and employees’ accountability. Employees just like clients and investor can directly lose both money and shareholdings (Pert Clark 2010). Nerveless, as cited by Christie (2009), Bonus banking can at times fail to motivate employees. One reason for this is because the system does not allow for employees to enjoy the immediate reward of their effort. In addition, are form of insecurity develops considering the bonus earned previously can be significantly reduced and sometimes claw back applied. For that reason, employees might be reluctant to put extra-effort and hence result in either average or just above average result. This performance will be observed by the clients and potential harm any profitable relationship. Incentive Programs and Sales People Without a doubt, sales people play an integral role in any organization. The importance of their duties is further propelled when the institution in question offer financial and investment services. When the organization deals with ultra high net-worth and/or just high net-worth individuals, the sale’s people need to be equipped with the resources, knowledge and motivation needed to handle this unique group of client. Such is the case at UBS. This institution implicitly states that its sales force support its business in a very significant way. It is the sales people who regularly come in contact with clients and potential clients and in the process offer financial and investment advice. Similarly, they are responsible of ensuring th e existing clients are retained and potential new customers procured (Levil and Curtis 2010; UBS 2010). However, to ensure that this group of employees maintain a consistent high performance, sale’s managers have opted to adopt various recognition and sales incentive programs. Sale incentive program usually target to reinforce a certain behaviour that an organization perceive to be contributing towards its objectives (Levil Curtis 2010). Levil Curtis (2010) claims, there is enough evidence to support the premise that an effective incentive programs can increase sales team performance by approximately 30 percent. The program adopted at UBS aim to retain the best talented sales people while at the same time encourage them to engage in practices that maintain and increases their business. Judging by the number of awards this organization has received through out the countries it operates; it was considered to be on the right track (UBS 2010). A sale’s manager, neverthel ess, faces quite some challenges while designing an incentive program. They can range from the internal impact they have on the institution, to external influence. For starters, it is an expensive endeavour. Official figures estimate that businesses in the US spend about $ 9.5 billion and $101 billion on non-cash and cash incentives respectively. Therefore managers have to ensure the program adopted serve the organization’s both short-term and long-term goals. Both the institution and the sale’s people want to recoup their investment, and earn their returns at the shortest time possible. This therefore increases the chance of entering in practices that might affect the organization and stakeholder negatively; especially customers. To be eligible for the incentive reward, sales people have to hit a certain sales target. They can at times be tempted to apply even unscrupulous practice to close a sale deal. Sales manager therefore need to be well aware of this issues sinc e they can have negative legal implication on the institution. For example, customers have various rights, such as right to information. This is particular important to financial service organization such as UBS. Legislation across Europe and other countries entitled the person issuing investment opportunity to provide the client with prospectus and/or statement of investment. These documents are meant to clearly elaborate the nature of the investment; such as the background, potential return and risk involved. Sale’s people, to increase their chance of reaching the target, can decide to withhold any information that might make their client reconsider the offer. A good example is belittling the risks involved and exaggerating the potential return (UBS 2010; Glick 2009; Levil and Curtis 2010). Sales managers also need to consider the tax implication of any incentive program adopted. Employers therefore should be ready to declare the value of any benefits and incentive enjoyed by this group both in terms of cash and non-cash. In the US, the legislation set and govern by the IRS specify this benefits to be taxed as ordinary income. Effectively taxing the incentives and high bonuses especially those rewarded to senior sale executives can potentially reduced the negative public perception. Although this cannot be a solution by itself, the financial institutions need to contribute a larger percentage of the money which is used to bail them out in moments of crisis (Cleverley Rai 2010). Conclusion Financial services organisations have been forced to change their incentive compensation plan in order to balance between short and long-term. This was necessitated by the fact that, the recent financial system was closely associated to the bonus systems that previously existed. As a result, the relationship existing between these organizations and other stake holders such as customer and even some employees was negatively affected. Accordingly, companies such as UB S have opted to adopt bonus banking so to ensure long-term value is created. Employees, just like customers and shareholders, will have to directly lose in case the organization underperforms. Reference List Christie P. (Mar 2009) ‘Is bonus banking the answer to banking?’ Financial  World, March 2009. Cleverley, B. (2008) Tax Consideration in a Sales Incentive Program: Avoid Future Legal Surprises. Corporate information, 12(7), pp. 123-42. Glick, R (2009). Comparing the Recent Global and the 80’s Asian Financial Crisis. Economic Paper, 4(2), 7-22. Heineman B, Goodman, N and Downes, K. (2009) Balancing Long and Short term Goals to achieve the corporate strategies: Lessons from the Meltdown. Leeway journal of finance, 12(25). 32-40. Irv, M. (2009) Will the Bonus-Mulus System restore UBS Public Perception.  Centre of Finance, 2(1), pp. 10-23. Kamil, H and Rai. (2010) Effect of Financial Crisis on Foreign Banks Lending.  The NIS bank Working Paper, 10 (102).10- 34. Levi, N and Curtis, M. (2007) Respecting Consumer Right When Closing the Deal: Salespeople Motivation. Consumers’ right and Information guide,  8(2), pp. 12-28. Pert, L and Clark. (2010) The Role of Executive Compensation Plan in the Global Crisis. International journal of economics, 20(8), pp. 10-45. UBS (2011) UBS Global Home Page [Online] Available from  https://www.ubs.com/global/en.html . Watkins, M and Warren, K. (2010) Adopting Reforms in the Current Pay Plan through Bonus Banking. Adept research journal, 3(6), pp 15-28.

Learning the Mandarin Chinese Tone System

Learning the Mandarin Chinese Tone System The Mandarin language has a fundamental difference from Western languages: it is tonal. Tones are one of the biggest challenges for Mandarin learners, but their mastery is essential. Incorrect tones can make your spoken Mandarin difficult or impossible to understand, but using the correct tones will allow you to express yourself clearly. Mandarin tones are especially difficult for speakers of Western languages. English, for example, uses tones for inflection, but this is a very different usage from Mandarin. Rising tones in English often imply a question or sarcasm. Falling tones may be used for emphasis. Changing the tones of a Mandarin sentence, though, could completely change the meaning. Let’s take an example. Suppose you are reading a book and your brother (or sister or child) keeps on interrupting you. You are likely to become exasperated and say â€Å"I’m trying to read a book!† In English, this would be said with an emphatic falling tone at the end. But if you use a falling tone in Mandarin, the meaning completely changes. WÇ’ yo kn shÃ… « I want to read a book.WÇ’ yo kÇŽn shà ¹ I want to cut trees! The second version of this sentence would have your listeners scratching their heads. So practice your tones! They are essential for speaking and understanding Mandarin.

Learning the Mandarin Chinese Tone System

Learning the Mandarin Chinese Tone System The Mandarin language has a fundamental difference from Western languages: it is tonal. Tones are one of the biggest challenges for Mandarin learners, but their mastery is essential. Incorrect tones can make your spoken Mandarin difficult or impossible to understand, but using the correct tones will allow you to express yourself clearly. Mandarin tones are especially difficult for speakers of Western languages. English, for example, uses tones for inflection, but this is a very different usage from Mandarin. Rising tones in English often imply a question or sarcasm. Falling tones may be used for emphasis. Changing the tones of a Mandarin sentence, though, could completely change the meaning. Let’s take an example. Suppose you are reading a book and your brother (or sister or child) keeps on interrupting you. You are likely to become exasperated and say â€Å"I’m trying to read a book!† In English, this would be said with an emphatic falling tone at the end. But if you use a falling tone in Mandarin, the meaning completely changes. WÇ’ yo kn shÃ… « I want to read a book.WÇ’ yo kÇŽn shà ¹ I want to cut trees! The second version of this sentence would have your listeners scratching their heads. So practice your tones! They are essential for speaking and understanding Mandarin.

Critical Assessment of Sustainability Policy of EURAC Convention Research Paper

Critical Assessment of Sustainability Policy of EURAC Convention Centre - Research Paper Example Its sustainable mission is to combine the meeting offers with attractive tourist experience that meets international market standards.     The current sustainable policy of the organization requires amendments related reflecting the current changes in lifestyle and technology to guarantee continued advancement. European Academy (EURAC) Convention Centre (ECC) is located at the heart of unspoiled dolomites in one of the most eco-crucial regions of Europe. The facility was designed to curtail the negative environmental impact resulting from events held in the region. ECC is located in a strategic location i.e. city center that can be accessed through eco-friendly transport means such as bikes or through walking. The facility is designed to be a professional conference and seminary facility in local, national or international functions. The 1,250 square meters covered by the facility contains an auditorium with 320 seats, conference hall, five seminar rooms, two foyers, and a computer room. ECC boasts of the highly qualified management team that contributes to the innovativeness; enhances delivery of services. The current growth in the event and leisure industry is due to the enhanced globalization. Industry globalization has led to increased income, intensive use of communication technology and newly developed cheaper means of transport (Paschinger, 2007). Organizational growth and enhanced competitiveness in the event and leisure industry requires the application of enhanced technology and innovativeness. The organization has adopted an effective sustainable policy based on technological innovativeness and focus on environmental improvement.

New German spelling Case Study Example | Topics and Well Written Essays - 1000 words

New German spelling - Case Study Example Trotzdem wurde die Reform sehr kritisiert, und man stellt die Frage: Ist die neue deutsche Rechtschreibung eine L'sung f'r die deutschen Sprachler, oder ist sie ein Problem f'r alle Leute und Texte, die die klassische Rechtschreibung verwendet haben' Das amtliche Regelwerk von 1902 regelte die deutsche Rechschreibung bis die Einf'hrung der Neuregelung. Am 1.8.1998 tritt das neue amtliche Regelwerk in Kraft. W'hrend einer 'bergangszeit durfte man nach den alten Regeln schreiben. Die lange Dauer der 'bergangszeit hat positive und negative Aspekte gehabt. Die Absicht dieser 'bergangszeit war die Reform nicht dramatisch zu machen. Dies erm'glichte die Erneuerung von Sprachlehrb'cher, W'rterb'cher und andere Ver'ffentlichungen. Au'erdem konnten die Sprachler an die neue Orthographie sich gew'hnen. Diese Situation gibt jedoch den Leute die Hoffnung, dass die alte Rechtschreibung noch mal wiedersetzen wird, und dies erlaubte die gleichzeitige Pr'senz von verschiedenen Rechtschreibungen. Die amtliche Regelung des Ministeriums der Deutschsprachigen Gemeinschaft enth'lt einen Regelteil und ein W'rterverzeichnis mit etwa 12.000 W'rtern. Der Regelteil hat die neuen Regeln 'ber die Laut-Buchstaben-Zuordnungen, die Getrennt- und Zusammenschreibung, die Schreibung mit Bindestrich, die Gro'- und Kleinschreibung, die Zeichensetzung und die Worttrennung am Zeilenende (Ministerium der DG 1998). Die neue Regelung verfolgte das Ziel, die Schreibung der Wortst'mme konstant in allen W'rtern einer Wortfamilie zu machen, und die Ausnahmen zu einschr'nken (Heller 2002). Das macht die Kenntnis der Regeln einfacher f'r Sprachler. Jetzt erlaubt die Schreibung von Fremdw'rtern zwei Formen: die originale Form und die eingedeutschte Form (zum Beispiel: Geographie / Geografie, Photograph, Fotograf). Deswegen ist es m'glich, drei gleichen Konsonantenbuchstaben in Komposita zusammenzutreffen. Zum Beispiel: Ballettt'nzer (aus Ballet und T'nzer), Schifffahrt (aus Schiff und Fahrt). Trotzdem erlaubt die neue Rechtschreibung den Gebrauch eines Bindestriches in einigen F'llen (z.B. Schiff-Fahrt, Kafee-Ersatz). Wichtige Ver'nderungen gibt es auch 'ber die Benutzung des Buchstabes '. "Der Buchstabe ' steht nur noch nach langem Vokal oder Doppelvokal, nach einem kurzen Vokal wird er durch Doppel-s ersetzt (z.B. "Fu'", "hei'en", aber: "Fluss")" (Duden 1997: 610). Man schrieb die Konjuktion dass mit ' seit der Mitte des 16. Jahrhunderts, aber in neuer Rechschreibung wird mit ss geschrieben. In der Schweiz und Liechtenstein verwendet man dass vor der Reform. Die neue Rechtschreibung k'nnte eine L'sung f'r die Ausnahme und die dialektalen Varianten sein. Trotzdem erkl'ren die neuen Regeln 'ber die ss-'-Schreibung nicht alle Zweifeln der Sprachler. Die Reform der Rechtschreibung macht, im engeren Sinne, Deutsch schwieriger zu lernen. Diese Schwierigkeit gilt f'r Muttersprachler und Fremdsprachler, weil die Regel, die sie gelernt haben, ver'nderten. Die Leute, die deutsche W'rterb'cher vor 1996 benutzen, w'rden nicht ihre Zweifel erkl'ren. Au'erdem kann man viele B'cher mit den alten Rechtschreibung finden. Die neue deutsche Rechtschreibung hat einen Einfluss an der Sprachlehre im Ausland. Die Sprachschulen und Universit'ten k'nnten nicht die neuen B'cher, W'rterb'cher und Lehrmaterial bezahlen. Diese Reform k'nnte positiver f'r neue

On Becoming A Leader Essay Example for Free

On Becoming A Leader Essay Nowadays, the title of â€Å"leader† seems to be sloppily thrown here and there. For the inexperienced eye, if someone seems to be the dominant individual in a group, people automatically ascribe the term to the person. Nowadays, it seems to be more of having a title than meeting that title’s responsibilities. It is imperative for a leader to know what enables his leadership; he should know how he had come to that position. In retrospect, a good study of the great leaders has amounted to a list of qualities that they innately possess. Bennis, (2003) in his book, â€Å"On Becoming A Leader† talks about what it takes to become a leader. There are different so-called â€Å"ingredients† that the author attributes the greatness of those people who have been worth enough to be called leaders of their generation. He speaks of ingredients such as guiding vision wherein a leader knows where he is going and knows how to get there. It is the proverbial horizon that the leader looks to. Another ingredient is passion—it is an enduring love for what he is doing. The author also speaks about integrity and being honest to oneself. He talks about the importance of doing away with self-deception and aligning one’s thoughts with one’s words and actions. He adds curiosity and a daring attitude to the mix as he stresses the importance of learning how to not be satisfied with the status quo by taking on challenges which have real-life risks. Finally, he closes with one of the most poignant traits that a leader must have. He bases his findings on a simple, yet hard-to-define element: trust. The author gives several reasons why it is important for a leader to be trustworthy. This trait essentially speaks of a leader’s integrity and how he deals with other people. Bennis says that it is one of the qualities that can only be earned and not acquired. It is given freely by the leader’s peers and followers. (Bennis, 2003) Trust is said to be one of the essentials that a leader needs in order to have his or her group up and running. Like a car without fuel, a leader will not be able to function if those under the leadership do not trust him. More than anything, this is the most vital part of any type of leadership. If the people are unable to follow the leader because they do not trust him or her, then it would be better if there was no one to follow at all. Apart from trust, all of the other ingredients are learned. Ordinary people will eventually learn how to look at the big picture and become accountable to themselves and to others. Leaders-to-be will eventually engender a love and a passion for what it is that they do but on of the things that cannot be learned is the trust that comes with responsibility. To be able to look at one’s follower and have that person say to you, â€Å"I trust you† is one of the most precious ingredients a leader can ever have. It is the cherry on top of everything else—the so-called icing on the cake without which everything will simply be ordinary and out-of-the-box. With all of the talk of having certain qualities that a leader needs to have, all of the ingredients are important but none as important as the trust that is earned by a leader.

I have studied poems of World War II. I found that the poems fell into :: English Literature

I have studied poems of World War II. I found that the poems fell into two categories, Recruiting Poems and Reality Poems. World War II Poetry I have studied poems of World War II. I found that the poems fell into two categories, Recruiting Poems and Reality Poems. Recruiting poems were those which were written by poets who have never encountered war but were paid to convince the reader, usually in their twenties, to sign up with the army. Reality poems tragic and effective story of what war was really like. They were written after war by a person who has suffered the consequences of the battleground. Dulce Et Decorum Est, a reality poem written by Wilfred Owen describes the struggle of a group of people who have to fight through the extraordinary events of war day in day out. Wilfred Owen frequently uses highly emotive language throughout the poem for example "haunting", "limped" and "guttering, choking, drowning". These help the reader imagine the terrible pain the soldiers suffered. Owen uses rhetorical devices such as "you too could pace behind the wagon that we flung him in" The title, in English means It Is Sweet And Honourable To Die For Ones Country. Which at first suggests that the poem represents the army in a good way. However this is far from the truth. In a way I think that Owen was mocking the saying but I don't think he was mocking the army as a whole. Owen says "Till on the haunting flares we turned our backs" which means the soldiers are so tired that even when the flares go off behind them they don't have the energy to turn around to see them. He also says "Drunk with fatigue" which is saying that the soldiers are so tired that it is as though they are drunk. Owen says these to ethicise the tiredness of the soldiers. The pace changes in the second stanza. The soldiers are woken by a gas attack. This changes the mood that Owen has set in the opening stanza. The soldiers are now woken by the fact that their lives are in extreme danger and they now have to be fully aware of all their surroundings, which will be difficult because of their tiredness. "Dim through the misty panes and thick green light, as under a green sea, I saw him drowning" The green light is the view through the soldier's gas masks. This is a simile saying that the man is drowning in a green sea. But really he is drowning in a sea of toxic blood.

Methyl acetate uses

In many applications, Eastman methyl acetate can be an effective replacement for acetone and other fast-evaporating solvents. Strength?assay Methanol Water Acidity as acetic acid color, PC's Some common cleaning applications include: universal cleaner LOW-VOCE and environmental cleaners Aerosol carburetor cleaners Paint gun cleaners Cleaners for printing inks Table 1 Sales specifications Property Eastman methyl acetate can be used alone or In easily blended formulations to optimize cleaning efficiency. Because methyl acetate is miscible with most organic aerospace, marine, and industrial.Eastman methyl acetate methyl acetate, high purity 96. 0% mint. 2. 5% Max. 1. 5% Max. 0. 15% Max. 5 Max. 99. 5% mint. 0. 10% Max. 0. 05% Max. Cleaners for industrial wipes Regulatory and VOCE-exempt status Concerns for work place safety and the environment have led to the deselecting of chlorinated solvents in many applications. In the United States, methyl acetate was added to the list of compounds excluded from the definition of volatile organic compound (VOCE) on the basis that these compounds have been determined to eve negligible photochemical reactivity.Methyl acetate is relatively nontoxic, nonrestrictive, and readily biodegradable, making it useful in environmentally friendly formulations. Fast evaporation rate Fast drying is often a key performance requirement in cleaning applications. A slow-drying solvent can impede the cleaning process, adding additional labor cost. In addition, slow-drying solvents can attract airborne contaminants and leave residues that negate the effectiveness of the cleaning processes. Using Eastman methyl acetate in cleaning applications (Continued)Table 2 shows physical properties of methyl acetate versus other fast-evaporating solvents. Methyl acetate evaporates faster than MEEK and ethyl acetate, allowing its use as a replacement for those solvents in applications where VOCE reduction is required. Methyl acetate is similar to acetone in eva poration rate, VOCE exemption, and non-HAP status but offers a higher flash point and hydrophobic property. The hydrophobic nature of methyl acetate can be a key performance criteria in cleaning applications where moisture-related problems can damage or corrode parts, eating to defects or rejects.

Spansion apart

Spansion (China) Ltd. offers workers at its plant in China's Suzhou Industrial Park many of the same employee benefits as scores of other nearby factories. What sets Spansion apart from the pack is the management style of its 47-year-old Singaporean chief executive officer, Loh Poh Chye. Most factories in the park, which is east of the city of Suzhou in the province of Jiangsu, offer medical plans, in-house training programs and promise to treat employees like family, says Mr. Loh. â€Å"But to me the difference is how you do it and how you engage the employees.I believe you have to show them it's not just slogans — you have to walk the walk. † That philosophy propelled Spansion to No. 1 this year in the Best Employers in Asia survey by human-resources consultancy Hewitt Associates. Spansion makes flash-memory products used in consumer electronics such as high-definition television sets and MP3 players. Headquartered in California, it employs 1,300 people in China and i s a joint venture between Advanced Micro Devices Inc. of the U. S. and Japan's Fujitsu Ltd. It is listed on the Nasdaq Stock Market. One of the first things Mr.Loh did at Spansion was to put in place a management team that thinks like he does. He also runs a mentoring program that pairs managers with someone two or three tiers below. And he gives each division a budget to fund an activity outside work such as a group dinner or a community-service oriented activity. Twice a month, Mr. Loh joins a dozen or so factory workers in the company's cafeteria to talk about staff issues ranging from pay scales to career goals to the quality of the canteen's food. So far, his strategy is working. Staff turnover in Suzhou Industrial Park averaged 30% last year, Mr.Loh says, but Spansion's rate was half that, even though its pay scales lag some other companies in the park. Hewitt Associates conducts its survey every two years. It started the surveys in Asia in 2001 and this year's involved 772 co mpanies and 160,000 employees in seven markets. Besides China, Hong Kong, South Korea and Singapore, Hewitt added for the first time Australia and New Zealand, which are treated as a single market, and Japan and India. In addition to quizzing CEOs and their human-resources departments, Hewitt does random polls of employees.The data is then evaluated by independent judging panels appointed by Hewitt, and winners selected. â€Å"It comes down to getting the basic things right, but most companies seem to let a lot of stuff get in the way of that,† says Andrew Bell, head of Hewitt Associates' regional talent and organizational consulting practice. â€Å"Everyone these days will say ‘our people are really important' but when you get inside these winning organizations, there's a deep philosophical belief about that — and it starts with the CEO, and cascades from there. â€Å"Joining Spansion at the top of Hewitt's survey are Three on the Bund, a company that runs fou r restaurants, a spa, an art gallery and high-end retail outlets in an historic building in Shanghai, and the Ritz-Carlton hotel in Hong Kong. Hotels usually rate highly in the best employers survey and this year five of the top 10 are hotel companies. According to Hewitt's research, hotels often top the survey because they have to be the best kind of employer. Every employee — from housekeeping staff to bellhops — has contact with the customers, and one bad experience with a maid can ruin a hotel stay.Hotel managers must engage and motivate each employee, not just top-tier managers. So, top-tier hotels are run on the premise that employee satisfaction leads to guest satisfaction. Hotels also offer great mobility: They tend to hire from within and value customer-service experience, which is gained in every hotel job, as much as formal education. A bellhop, for instance, can work across and up to become a food and beverage manager. Indeed, Hewitt's latest survey shows t hat workers from all industries rate recognition and career prospects far above pay. The Ritz-Carlton in Hong Kong, like other hotels in the U.S. chain, has an effective communication program, Hewitt says. Managers meet with employees in their team at morning meetings to brief them on what's going on with the hotel that day. At these daily meetings, Ritz-Carlton managers acknowledge staff who've done something to stand out. They also read out the company's employee pledge: â€Å"Our ladies and gentlemen are the most important resource. † The company backs that up with human-resource programs to help employees identify areas of strength and set career goals, and provides training to help them achieve those things.â€Å"As part of our culture and philosophy, we constantly encourage internal growth as we strongly believe in talent retention and development,† says Mark Lettenbichler, general manager of the Ritz-Carlton Hong Kong. â€Å"With succession planning, we nurture and maximize talent, creating long-term careers†¦ and eventually building employee loyalty and commitment. † The Ritz-Carlton's human-resources policies also offer a lesson for companies in other industries. In an environment where everyone counts and anyone can climb the career ladder, employees are likely to be more committed and work harder, says Hewitt's Mr.Bell. That translates into profit. Hewitt's survey shows that companies that engage their employees have stronger earnings. The top 20 companies in this year's survey have had 75% higher revenue growth than the rest over the past three years; their productivity was 67% higher, and their profit growth 38% higher than other survey respondents. For Mr. Loh, a factory full of committed workers is well worth the extra effort he and his managers put in. It's not always about doing what employees want, he says; often it's simply communicating clearly why the company is doing what it's doing.Newly hired employees sometime s gripe about Spansion's pay. But Mr. Loh says good communication is key to keeping employees happy. â€Å"We have to be honest and tell them we are not the highest paymaster because we can't afford to be. We don't blindly pay the top market rate — but we do pay for performance,† says Mr. Loh. â€Å"So those who stand out get higher pay, and those who are below average get lower pay. † And when an employee complains that a colleague has been promoted above him or her, Mr. Loh challenges the employee to pursue a promotion, rather than sit back and wait to be singled out by a manager.â€Å"We are always willing to offer training to someone who's motivated, or move someone to a new department, laterally, to work across and up in a new area, † he says. â€Å"Sometimes when I say this, they start to get uncomfortable — they don't want to move out of their comfort zone. I tell them not to put all their career movements in the hands of the company â€⠀ (you) have to take ownership, discuss it with your supervisor, show your capacity and get out of your comfort zone. † Feedback is another big part of Mr. Loh's management strategy.Employees in Hewitt's survey say they like to be able to make suggestions, but don't like it when feedback forms are met with silence. Members of Mr. Loh's management team encourage staff to make suggestions on the company intranet, and respond to each individual suggestion, regardless of whether it is implemented. â€Å"The affinity level between myself and my department managers is very high. We're all very close — not just a friendship kind of close, but more than that; we spend a lot of time talking, and they can read my mind and I can read theirs,† Mr. Loh says.His managers have taken a page from his book; two years after Mr. Loh came to Spansion, department managers starting holding cafeteria chats of their own once a month. Mr. Loh, who joined Advanced Micro Devices in Singapo re 1984, started reading ancient Chinese texts for management tips in a bid to better connect with his employees when he was posted to China in 2001. â€Å"There's a saying in Chinese: attack the heart instead of the castle. Management is about winning and managing the heart of a person — then that person will start to believe in the vision you have.† Of course, â€Å"that's got to be accompanied by proper compensation and benefits,† he adds. â€Å"Most of the traditional Chinese literature talks about management style that focuses on managing the hearts and emotional qualities of a person, instead of the hard stuff,† says Mr. Loh. â€Å"I feel that it is in the blood of the old Chinese people — they value culture, they value a people-oriented style of management, and I think that carries over to this new generation. â€Å"

Endangered Wild Life essays

Endangered Wild Life essays Since the beginning of man there has also been wildlife. There are the animals, the wild plants and also the ocean creatures. For thousands of years animals have made almost every inch of earth their home. Now that man has exceedingly populated, the numbers of animals have dropped drastically. There are vast varieties of species that have become extinct and others that are in the same path. Animals are not alone in this, but also wild plants, and water living creatures that are becoming rarer in these times. Not only in the Unite States is this happening, but all over the world, thousands of species are being dismembered everyday. The earth has become less attractive, because everyday wildlife is decreasing. The lack of wildlife has not only destroyed animals lives but also humans as well. We have seen extinction from its very beginning by viewing the bones of the dinosaurs. Extinction has had a slow rate in the last centuries, but now extinction has quickly risen. This process of extinction can now either happen by human activity or by natures process. In the last 200 years The United States has lost more birds than any other area of its comparable size (Greenway 35). A great example is the red-cockaded, which needs wood that is sixty to seventy years or older to make a home (Campbell 37). About twenty percent of the worlds freshwater fish species are either extinct or in state of dangerous incline (Stalcup 19). Birds are just one example out of many animals that are being threatened with extinction. Other animals such as rhinos, bears and tigers face the dangerous fear of extinction as well. Panda bears reproductive success is extremely low in the wild (Ward and Kynaston 48). The majority of the losses of these animals have been by habitat loss. Six out of the eight bear species are considered to be dangerous (Kynaston 153). In Africa, rhinoceroses face their worst enemy which is man on an ev...

Quotes from Women About Feminism

Quotes from Women About Feminism Learn what famous women have had to say on the subject of feminism with this collection of quotes. Gloria Steinem I have met brave women who are exploring the outer edge of human possibility, with no history to guide them, and with a courage to make themselves vulnerable that I find moving beyond words. Adrienne Rich I am a feminist because I feel endangered, psychically and physically, by this society and because I believe that the womens movement is saying that we have come to an edge of history when men- insofar as they are embodiments of the patriarchal idea- have become dangerous to children and other living things, themselves included. Erma Bombeck Weve got a generation now who were born with semi-equality. They dont know how it was before, so they think, this isnt too bad. Were working. We have our attache cases and our three piece suits. I get very disgusted with the younger generation of women. We had a torch to pass, and they are just sitting there. They dont realize it can be taken away. Things are going to have to get worse before they join in fighting the battle. Marilyn French My goal in life is to change the entire social and economic structure of western civilization, to make it a feminist world. Robin Morgan Quotes If I had to characterize one quality as the genius of feminist thought, culture, and action, it would be the connectivity. Susan Faludi Feminisms agenda is basic: It asks that women not be forced to choose between public justice and private happiness. It asks that women be free to define themselves- instead of having their identity bell hooks As all advocates of feminist politics know most people do not understand sexism or if they do they think it is not a problem. Masses of people think that feminism is always and only about women seeking to be equal to men. And a huge majority of these folks think feminism is anti-male. Their misunderstanding of feminist politics reflects the reality that most folks learn about feminism from patriarchal mass media. Margaret Atwood Does feminist mean large unpleasant person wholl shout at you or someone who believes women are human beings? To me its the latter, so I sign up. Camille Paglia I consider myself 100 percent a feminist, at odds with the feminist establishment in America. For me the great mission of feminism is to seek the full political and legal equality of women with men. However, I disagree with many of my fellow feminists as an equal opportunity feminist, who believes that feminism should only be interested in equal rights before the law. I utterly oppose special protection for women where I think that a lot of the feminist establishment has drifted in the last 20 years. Simone de Beauvoir To emancipate woman is to refuse to confine her to the relations she bears to man, not to deny them to her; let her have her independent existence and she will continue none the less to exist to him also; mutually recognizing each other as subject, each will yet remain for the other an other. Mary Daly The fact is that we live in a profoundly anti-female society, a misogynistic civilization in which men collectively victimize women, attacking us as personifications of their own paranoid fears, as The Enemy. Within this society it is men who rape, who sap womens energy, who deny women economic and political power. Andrea Dworkin Feminism is hated because women are hated. Anti-feminism is a direct expression of misogyny; it is the political defense of women hating. Rebecca West I myself have never been able to find out precisely what feminism is: I only know that people call me a feminist whenever I express sentiments that differentiate me from a doormat, or a prostitute. Christabel Pankhurst We are here to claim our rights as women, not only to be free, but to fight for freedom. It is our privilege, as well as our pride and our joy, to take some part in this militant movement, which, as we believe, means the regeneration of all humanity. Audre Lorde But the true feminist deals out of a lesbian consciousness whether or not she ever sleeps with women. Charlotte Perkins Gilman So when the great word Mother! rang once more,I saw at last its meaning and its place;Not the blind passion of the brooding past,But Mother- the Worlds Mother- come at last,To love as she had never loved before- To feed and guard and teach the human race. Anna Quindlen Its important to remember that feminism is no longer a group of organizations or leaders. Its the expectations that parents have for their daughters, and their sons, too. Its the way we talk about and treat one another. Its who makes the money and who makes the compromises and who makes the dinner. Its a state of mind. Its the way we live now.

Advantages and disadvantages of the options officers have regarding Essay - 1

Advantages and disadvantages of the options officers have regarding the use of force - Essay Example Their major goal is the protection and security of the citizens of the country. In order to attain this goal society, government and the law grants police officers authority in civil government. Police officers use this authority to for the control and the management of the behaviors of the citizens. One of the major advantages in their field is that they can take actions according to the circumstances. They are given permission by the authority to use the forces according to the current situations. While analyzing the challenges of being a Police officer Ashley comments that the greatest challenge for today’s officer is the question of when and how to use the force and how much to use the force. Officers are often considered as the mediators in their careers. They have to analyze the situations where they have to take actions when laws are violated. Their delay or haste in actions and orders can change the whole scenario for them and put the lives of the innocent citizens at risk. Their one wrong decision or wrong step can lead towards the situations where whole society can be put at a risk. New York City Police Department Internal Affairs Bureau points out the acts that a police officer is supposed to do when he is on and off duty, the report says that according to the New York law â€Å"officers also are held strictly accountable to safeguard their weapons at all times. They are not permitted to store or leave their firearms in an unattended motor vehicle and are not permitted to carry their firearms in briefcases, handbags, or other portable containers†. (New York City Police Department Internal Affairs Bureau, 1996) The police officers are considered as the life savers of the citizens in the life threatening situations. They are praised because of their strength, confidence and bravery. They have the permission to carry the gun almost anywhere and investigate any area where they suspect