Friday, September 6, 2019
The Great Catastrophe of Barings Essay Example for Free
The Great Catastrophe of Barings Essay Introduction In 1995, Barings Bank, the first merchant bank in the world met its downfall due to the Singapore International Monetary Exchange or SIMEXs act of a rogue trader. The reason behind the collapse of the Barings Bank lies under the failure of COSO (Committee on Sponsoring Organizations) Internal Control Integrated Framework application in the company in terms of: environment control, risk assessment, control activities, information and communication monitoring. The person who is behind COSO Framework is Nick Leeson. However, the same person violated the said framework without the knowledge of the bank that led to the downfall of the merchant bank.            This paper aims to discuss the causes of the collapse of Barings Bank. Specifically, it also intends examine why the bank failed to apply proper integration of COSO and how Nick Leeson contributed to the downfall of Barings. Control Environment            In every company, control environment is important in order to give knowledge to the employees and increase their environmental awareness. This provides employees with the necessary discipline in order to incorporate other internal control components to all business operations in the company.            When Baring was on its first level of establishing its figure in SIMEX, Simon, who happened to be the supervisor of Nick Leesson, wanted to hire green traders. This means that in order to save money to be given out to employees, the company will only be accepting fresh graduates who do not demand high salaries. This is a great risk in the control environment that Barings took. SIMEX was internationally recognized financial institution which was ruled by highly competitive and knowledgeable traders. Thus, hiring ignorant traders who are not accustomed to the operations of SIMEX was a wrong move for Barings. In addition, the responsibility of hiring traders should go under the company’s human resource and not with Nick Leeson. Once a trader is accepted for the job, the company should rigorously train him or her, provide him or her with the right resources, and teach him orher the necessary skills in trading. Traders should not be brought to the trading floor until they fully master the trading system and procedures. The management philosophy of Barings as a company also appeared to be delinquent since the start of its operations. Simon already warned Leeson that the former was a bottom-line kind of person. Simon was someone who prioritized profitability over quality. For Leeson, loss and mistakes should be avoided at all costs, while maximizing profit. He did not care what steps should be taken in order for the company to earn money. The increase in profit was the only thing in his mind. In this situation, the delinquency philosophy of management was adopted. As per Simon’s instructions, Leeson and the other traders were obliged to always seek the most profitable option. Since they are pressured to do so, if a trader was not able to do his job well, they need to cover it up and find ways to settle the problem immediately in order to maintain the company’s reputation. The lack of human resource policies and procedures can be seen in the case of Kim, one of the traders. She was tasked to sell securities. However, she was not properly trained as a trader. Thus, she got confused about the deal and ended up buying security instead of selling. This mistake which is part of the 1st Barings liquidation can be avoided if only the company was able to check the background of Kim before hiring her. Leeson was not the only person who was pressurized by Simon. The Head of Barings Financial Products Ron Baker was also tasked by Simon to do things in order for them to receive bonuses. Going back to the case of Leeson, aside from work pressure, he was also going through some personal problems. His father-in-law had just died and he had lost an unborn child due to miscarriage. Because of the said incidents, his wife, Lisa, asked Leeson to resign from his job in Barings. She thought that her husband has been overworking for the company while he was not well-compensated. When he informed his supervisors that he was resigning, they suddenly gave him a special treatment. The company pampered him and gave him a special pass to trade for SIMEX when he was in London. He was also given the privilege to name his price when it came to bonuses and rewards. Although the employee retention strategy that the company used appears attractive, it had negative effects on Leeson. Providing this kind of privilege negatively affected his personality and his work performance. It caused him to become overconfident which led to insubordination as he tried to overpower his superiors. If only Simon or Ron had quickly discovered this transition in Leesons performance, they could have stopped him immediately from becoming a thief or an inefficient worker. Risk Assessment            Risk assessment is the companys ability to control the costs of materials occurring in the company. It also identifies the organization’s risks, and analyzes the potential and likelihood of costs. This is also important in order to assess that benefits should always be higher over costs.            In the case of Barings, the companys board management was not able to evaluate properly the risks of hiring new personnel in this new line of business. At that time, Barings was on the peak of expanding businesses all over the world. Because of his amazing performance in Jakarta where he was able to solve bonds problem, most of the responsibilities were assigned to Leeson. He was given a lot of power being the manager of the trading floor and the settlement office. He gained authority in giving permission to all transactions and activities involving the trading market. Giving him much authority was a grave mistake as it placed the company at risk. He easily manipulated the accounting system which was supposed to be for trading purposes only. There was a time when Leeson authorized trading floor transactions without the banks approval. Although there were auditors who examined incoming and outgoing transactions, they were easily bribed and manipulated by Leeson. He was also accountable for hiring traders who were not skilled and trained. Control Activities            Control activities focus on safeguarding the assets of the company. This involves segregating the duties of employees, authorizing transactions, documentation and checking incoming and outgoing deals.            There were control deficiencies in the newly put up Barings in Singapore. However, it was raised accordingly on the management’s table. Leesons case was about the missing 7.78 billion yen which was demanded by the external auditor for him to explain where such huge amount went to. The auditor required Leeson to present 3 valid documents which can prove that the money was not missing and was used properly. Due to the lack of internal control within the company, Leeson was able to produce the documents immediately. Although the management was already notified, there was no investigation conducted to see more supporting evidence where such materials came from. There were no independent checks made by the higher management to ensure that the internal controls were implemented.            Responsibilities were also not properly segregated in Barings. Leeson was the man responsible for both the trading floor and the settlement office, both risk-taking and reconciliation activities. In addition, there were no internal controls that can prevent Leeson from conducting certain control procedures. Since he had the custody of the transactions on the trading floor, he was also the one who authorized the transactions between Barings’ clients and SIMEX. At the same time, he also had the power to determine which authorized entries would be recorded into the journal and what reconciliation was supposed to be made at the end of the month. If there was a higher management responsible for controlling activities in the company, the company could easily detect the activities of Leeson which the company would never authorize Leeson to do. The control activities that were established in Barings were not structured and conducted properly. There were plenty of loopholes that could be taken advantage of. Information and Communication            Financial reports are vital materials in every company. In proccessing financial reports, having an established information and communication procedure is very important. This procedure enables the employees to understand their responsibilities in making company financial reports. This also involves the accounting system which records, processes, and summarizes the transactions concerning the companys assets and liabilities.            Lack of information and communication can be seen in the case of Barings. The company was only looking forward to the end of the month period where they gain profits. It did not seek to understand how and why the company achieved such profits; it only sought profitability and less accountability. Barings financial reports lacked accuracy. Thus, Leeson was able to do fraudulent activities while exploiting the companys resources. Even though Simon was curious about the missing 7.78 billion yen, he just demander for a brief report and did not ask for a more extensive investigation concerning the money.            Barings accounting system was also horrible as it was not properly controlled. Because of this, Leeson was able to manipulate every amount of transactions that were entered in the system. The financial statements that were given to the higher management were altered by Leeson first before they were presented to the board of entity. Meanwhile, Simon may be the main reason why Leeson turned out to be like that. He should be the one responsible in monitoring and supervising Leeson. However, he preferred to be preoccupied with the resultsâ€â€whether the company made a huge profit or not. Monitoring            Company activities should undergo monitoring process in order to fully asses the quality and performance over time. This can be evaluated by internal auditors through financial reports, Continual management review of exception and operation reports, an auditing per period basis and a Regulator’s suggestions for improvement.            Politics is considerably present in Barings organizational structure. Improper support from the board members or a senior executive is given to the internal audit department. The missing 7.78 billion yen was not sensationalized and the news subsided easily without further investigation. Leeson easily made ways to make that 7.78 billion yen case vanished into thin air. The quality of Leesons work was not properly monitored. The senior executives were easily confined on Leesons explanation rather than going through the reports that were submitted.            On the other hand, the audit personnel that were sent to audit Nick’s work did not possess the appropriate level of expertise. Nick was at first given a very strict and competent auditor but due to lack of support from the board of members, she was later called back to London due to some political issues and two rookies were sent to audit Nick.            Too much trust on Leeson that lead to the downfall of Baring lies on his managers accountability and the internal audit as well. Simon was not able to focus attention on Leesons performance like for instance when one of Leeson’s traders was making a mistake; and both Ron and Tony, the Senior Settlement Clerk from London, was not able to monitor Nick’s works properly. Tony was only ferreting around Nick’s office for about a month and found nothing. There was a total mess in Barings’ management reviews; there was literally no monitoring on Nick’s doings. Conclusion            There are warnings given to the management but they refuse to accept the fact behind it. Profitability blinded them so much believing that it measure success. Since Barings is a big corporation, segregation of responsibilities should be given properly and at the same time employee should understand true responsibility and discipline. Proper training should be given to newly hired individuals so that they will not be lost in their filed of work. There are problems that can be easily solved because of signs along the way but the management chose to ignore it and carry on with operations.            Too much slacking in the internal control was present in Barings. Leeson was able to perform nasty activities and he has vast opportunities that made him loss his integrity. He relied too much on Simons demand of gaining profit every end of the month. His mind is focused on this goal that he made dishonest ways of achieving it. He made things beyond his control even manipulating transactions and financial reports. Too much greed led to Barings bankruptcy and his imprisonment. With the additional pressure and problems that he was facing from both his marital and company side, as a regular human being, it was just a matter of time before he would crack open.            Taking immediate actions could cut Barings losses. Barings should be able to overcome this financial shock, only if the board of entity and higher management had responded spontaneously to the problems that they were facing. Everyone was surprised to know that Leeson who was a well trusted employee counter attack them by his power. Devising a solution immediately can be done to counter the companys loss. Securities should be prioritized to avoid another kind of scenario like Barings downfall. The case of Barings teaches the importance of internal controls in every company’s success. Right management and good supervision is needed in every company. Dedicated and honest employees are needed to lead the company and do managerial decisions that results in a win-win situation. Better internal controls are needed to fully analyze company transactions. A lesson well learned from Barings that will avoid future company losses in the future.
Management Theories Essay Example for Free
Management Theories Essay There are many different management theories that have been developed throughout the years in order to aid individuals within management roles. Even though some of these theories were developed years ago they can still be relevant in today’s society. One of these theories is The Administrative Approach Theory. The purpose of this paper is to explore why this theory can be considered a universal historical theory, the positive and negative aspects of this theory and how one of the management theories can be applied to an organization. Universal Historical Theory After reading through the historical management theories the writer feels that the Administrative Approach, developed by Fayol, can be considered the most universal and can be applicable in today’s business market. This is because unlike some of the other theories this theory focuses on the entire organization (Daft, 2010). This theory is made up of fourteen principles: Division of work, delegation of authority, discipline, chain of commands, congenial workplace, interrelation between individual interests and common organizational goals, compensation package, centralization, scalar chains, order, equity, job guarantee, initiatives and team spirit (FAO, 2013). â€Å"Fayol stressed the importance and the practice of forecasting and planning in order to apply these ideas and techniques†(Boundless, 2013 , para. 10). Advantages and Disadvantages As with any theory there are always some positive as well as negative aspects to it. One positive aspect of this theory is that since there is a division of work this can increase productivity not only in managerial work but also technical work (FAO, 2013). Another advantage is that since this theory believes in unity of command employees only have to report to one superior. By doing this, employees only take orders from one individual and therefor this limits the amount of confusion that can come about when multiple people are giving orders. A disadvantage to this theory is that since it is management oriented â€Å"it does not give much attention to the problems of the workers†(Akrani, 2013, para. 8). This can lead to the employees feeling under privileged and may increase job dissatisfaction. This theory is also very mechanical. Meaning that it does not deal with important things such as motivation, communication and leading (Akrani, 2013). Communication is very important in every organization so the writer feels that this is considered a negative aspect of this theory. Systems Theory The writer feels that the Systems Theory can be applied to her current work setting. This theory focuses on open and closed systems that interact with each other in order to achieve a common goal (Daft, 2010). Working within a hospital environment the organization is working towards a common goal of eliminating cancer. Since there are so many different systems that can affect this goal such as number of patients, money, resources, time, staff etc. it is important that management have a more systemic way of thinking and running their departments. Within the writers department when patients are seen in the clinic they generate money, this money can then be used to support and improve cancer research which therefore gets the organization one step closer to eliminating cancer. Conclusion Even though there are many different management theories available to help aid managers there are some that are more relevant than others. This paper looked at the Administrative Theory and how it can be applied universally. It also discussed how the Systems Theory can be applied to the writer’s current organization. By applying the best matched management theory to one’s organization this can help build a successful and positive company.
Thursday, September 5, 2019
Effect of Superstition on the Perception of Control
Effect of Superstition on the Perception of Control The Effect of Superstition on the Perception of Control over a Partially Uncontrollable Situation The effects of superstition on the an individuals behaviour has long been an area of interest in psychological research. Matute (1994, 1995) showed that an individuals response to uncontrollable circumstances is dictated by their level of superstition. Individuals with low levels of superstitious belief tend to show a decrease in cognitive capacity motivation, known as learned helplessness (Abramson, Seligman, Teasdale, 1978; Hiroto Seligman, 1975). Whilst individuals with high levels of superstitious belief, on the other hand, do not appear to develop this learned helpless, and it has been hypothesised superstitions provide an individual with an illusion of control (Matute 1994, 1995). Likewise, Dudley (1999) suggested that superstitious beliefs inhibit the learned helplessness effect by provided participants with an external locus of control. Conversely, it has been suggested that there may be other factors which inhibit the learned helplessness effect, such as attribution style (Abramson et at., 1978). Seligman (as cited in Rudski, 2004), conducted an experiment which showed that individual who formed particularly pessimistic attributions were susceptible to learned helplessness, in addition to depression. Furthermore, many studies which investigate superstitious belief the illusion of control do so by utilising judgements of contingency from the participant. Contingency judgements are useful as they help to explain how the illusion of control develops in participants (Yarritu, Matute, Vadillo, 2013). Blanco, Matute Vadillo (2011) showed that a participants contingency judgement is dependant on their level of action. It has been suggested, that the this combination with this level of action effect, and the high probability of a specific outcome, even when that outcome is uncontrollable, is what caused the participant to develop the illusion of control (Yarritu et at., 2013). This study aims to build on pre-existing research by investigating whether an individuals perception of control over a partially uncontrollable situation is impacted by their level of superstitious belief. To do this, participants were asked to perform a contingency judgement task, the results of which were then compared in relation to their level of superstition. It is hypothesised, firstly, that individuals with higher levels of superstition will report having higher levels of control in the active condition, when compared to individuals with low superstition and secondly, that this effect will be less apparent in the passive condition. Method Participants The participants were 996 undergraduate psychology students from the University of New South Wales (mean age = 19.8 years; 644 females: 352 males). They participated in this experiment as part of their week 5 tutorial class. Design This study took the form of a quasi-experiment, as it assessed the participants perception of control over a partially controllable situation, in relation to their level of superstition. As such, the independent variable, high or low superstition, was determined by the Superstitious Beliefs Questionnaires (SBQ). Participants were divided into the high superstition and low superstition groups based on a median split of the SBQ score. Based on the responses given, 492 participants (mean age = 19.7 years; 320 females: 172 males) were allocated to the high superstition group, whilst the remaining 504 participants (mean age = 19.9 years; 324 females: 180 males) formed the low superstition group. This experiment then tested two conditions, dubbed the active and the passive condition. The dependent variable, that is, the participants perception of control, was then measured, by self-report. Materials The experiment was carried out on standard computer terminals in one of the universitys computer labs. Inquisit software (Millisecond Software, Seattle) was used to present the experimental stimuli. In the active condition, participants were presented with a light bulb graphic button. Participants could choose whether or not to press the button, and the light bulb would either light up, or remain off as a result of their decision. As a result, there were four categories of trial: press with light, press without light, no-press with light and no-press without light. After 10 trials participants were asked to rate how much control they felt they had over the light bulb. In the passive condition, participants were only presented with a light bulb graphic, and informed that they would observe an imaginary friend, Bob, perform the task. As in the active condition, there were four categories of trial, and after 10 trials, participants were asked to rate the level of control they perceived Bob had over the light bulb. Participants completed the Superstitious Beliefs Questionnaire (SBQ), a demographic survey, and were asked if they were aware of the experiments design. The SBQ is a 26 item scale, designed to measure the level of superstitious belief in an individual. Each item of the SBQ can be scored from 0 up to 4, making a maximum score of 104 points possible. Participants who scored less than or equal to 46 on the SBQ were placed in the low superstition group, whilst those who scored above 46 were placed in the high superstition group. Procedure The participants were asked to complete a contingency judgement task, in two conditions. Each condition consisted of four sets of 10 trials. In the active condition, participants were instructed to choose between pressing or not pressing a button on the screen. This action or inaction then lead to a light bulb on the screen being illuminated. After 10 trials of this, participants were asked to rate how much control they had over the light bulb, using a sliding scale displayed on the screen. In the passive condition, participants were informed that they would observe an imaginary friend performing the task. The participants were able to observe the outcome (whether the light turned on or remained off) and were informed of the imaginary friend action (pressing or not pressing the button). Participants were again asked to rate how much control the imaginary friend had over the light bulb. References Abramson, L. Y., Seligman, M. E. P., Teasdale, J. D. (1978). Learned helplessness in humans: Critique and reformulation. Journal of Abnormal Psychology, 87(1), 49–74. Blanco, F., Matute, H., Vadillo, M. A. (2011). Making the uncontrollable seem controllable: The role of action in the illusion of control. Quarterly Journal of Experimental Psychology, 64(7), 1290–1304. Dudley, R. (1999). The effect of superstitious belief on performance following an unsolvable problem. Personality and Individual Differences, 26(6), 1057–1064 Hiroto, D. S., Seligman, M. E. P. (1975). Generality of learned helplessness in man. Journal of Personality and Social Psychology, 31(2), 311-327. Matute, H. (1994). Learned helplessness and superstitious behavior as opposite effects of uncontrollable reinforcement in humans. Learning and Motivation, 25(2), 216-232. Matute, H. (1995). Human reactions to uncontrollable outcomes: Further evidence for superstitions rather than helplessness. Quarterly Journal of Experimental Psychology, 48B, 142–157. Rudski, J. (2004). The illusion of control, superstitious belief, and optimism. Current Psychology, 22(4), 306-315. Yarritu, I. Matute, H. Vadillo, M.A. (2013). Illusion of control: The role of personal involvement. Experimental Psychology, 61(1), 38–47.
Wednesday, September 4, 2019
Critical Book Review of No Shame in My Game by Katherine Newman Essay
Critical Book Review of No Shame in My Game by Katherine Newman When someone thinks of the poor they instantly imagine a homeless man sleeping in a cardboard box or the nearest garbage can, but the working poor especially in the inner-city is commonly overlooked by society. However the working poor, in this case the working poor in the inner-city, are people advancing to try and make their lives better. They are taking minimum wage jobs so that they can barely afford a roof over their heads. Within Katherine Newman?s novel No Shame In My Game, she studies the working poor in the inner-city to draw conclusions about how to help them and dispute common stereotypes and the images people commonly view. Newman?s conclusions along with the way she had conducted her case study will be evaluated for her positive and negative points while searching for any biases she may have portrayed within her novel. Â Â Â Â Â Even before I started reading Katherine Newman?s novel No Shame In My Game I had learned a little about Newman?s background, which may cause her to have a bias towards her case study. Newman is clearly within the middle class even perhaps towards the upper end. She is a Harvard anthropologist that would seem to have never experienced such situations as her subjects. Like most of the middle class she could simply have thought that the poor were only the few men in cardboard boxes in rough neighborhoods and not truly consider the working poor in the inner-city until the case study was started and her thesis written. This could greatly affect her procedures in observing data with her hundreds of subjects over the span of a few years. The thinking of someone who is not within the working class may flaw the order and process at which the case study was conducted. There may be variables that Newman did not consider and did not research that could change her data and con clusions. Using the social scientific method to collect data and revise her hypothesis involves knowing all the angles and variables that are applied, but if an extra variable were to present itself it would call for a change in the hypothesis. This one change could alter all of Newman?s conclusions and data she presents. Newman presents her supporting evidence largely with statistics although I do not believe many of her statistics are real world numbers for her exact case study but her observ... ... values as the middle class does. The working class has to first follow the same cultural values as the middle class if they hope to one day become part of the middle class. This thinking is not entirely flawed but unfortunately it is not enough to raise ones ranking in society. Â Â Â Â Â Newman had set out to answer a question: ?What might be done to reverse this scenario [the working poor being subjected to a worse lifestyle than the unemployed on welfare] (and what can be done) to build upon the advantages that a life on the job offers? (Newman, xv). I believe she had answered her question in a manner that proves useful and insightful. The conclusions that Newman had drawn where evaluated to being positive on some aspects while neutral on others. However I do not agree with some methods she used and data she used within her case study but nonetheless it still grants the audience a clear view of the working poor in the inner-city. Her slight bias could have caused her to conduct the research and study in a less accurate manner but she has proceeded to explain her train of thought well through the novel. As a whole Newman?s case study grants a view into the ?true? poor of America.
Tuesday, September 3, 2019
Why Feng Shui? Essay -- Philosophy
The word Feng Shui (fung shway) literally means wind and water in Chinese. These major energy sources underlie the belief that environmental factors influence people greatly and this is the basis of Feng Shui. The bagua chart indicates how elements, directions and aspects of life can be of influence. There is a wealth of information on the subject from practitioners and journalists that prove the benefits of Feng Shui. Disbelievers that began to practice it brought great prosperity and luck into their lives leading them to become advocates of the practice. Therefore, it stands to reason that though there is a counter argument against the argument that Feng Shui is hugely beneficial; it is disproven by successful business people, converts and journalists. Business tycoons, financial institutions, architects, offices and homeowners use Feng Shui principles. Many highly successful and intelligent people spend time and money incorporating this ancient art, and yet there are the skeptics that attempt to prove it to be a waste of time. Feng Shui is now a global phenomenon it brings wealth and well-being, yet it is surrounded with skepticism; even the skeptics eventually change when they are deluged with its benefits. Feng Shui is an ancient art which originated in Asia thousands of years ago. It is based on the bagua chart which gives readings and decides on the best actions to take when designing buildings or arranging furniture in the interior of a building. The chart is based on the I Ching, an ancient Chinese text that includes ancient cosmic principles and divination methods. There are eight directions on the chart, which give instructions on what the practitioner should do to manifest good energy, and attract the desired outcomes... ...nne. "Feng shui puts your furniture and your life in order." The Wall Street Journal (1996): 12. Proquest. 9 Apr. 2012 . Lagatree, Kirsten. "Ancient chinese wisdom for the modern workplace." Training and Development 51.1 (1997): 26-29. Proquest. 9 Apr. 2012 . Weltman, Barbara and Michael, Hayes. "Feng Shui for Beginners." Journal of Accountancy 200.6 (2005): 36-39. Proquest. 9 Apr. 2012 . Asis-Leif Designs. 2001/2012. 6 May 2012 Bankrate.com. 2012. 6 May 2012
Monday, September 2, 2019
Meniscal Injuries :: essays research papers
The meniscus is one of the most commonly injured structures in the knee. Meniscal injuries can occur in any age group, but causes are somewhat different for each age group. In younger people, the meniscus is fairly tough and rubbery, and tears usually occur as a result of a fairly forceful twisting injury. In the younger age group, meniscal tears are more likely to be caused by athletic activity (Sutton, 1999). Â Â Â Â Â In older people, the meniscus grows weaker with age. The tissue that makes up the meniscus becomes degenerative and much easier to tear. Meniscal injuries in older people occur as a result of a fairly minor injury, even from the up and down motion of squatting. Degenerative tears of the meniscus are commonly seen as a part of the overall condition of osteoarthritis of the knee in the older population. In many cases, there is no one associated injury to the knee that leads to meniscal tears (Sutton, 1999). Â Â Â Â Â In order to understand how the menisci can be injured, you must understand the basic anatomy of the menisci and why they are important. The menisci are two oval (semilunar) fibrocartilages that deepen the articular facets of the tibia and cushion any stresses placed on the knee joint. They enhance the total stability of the knee, assist in the control of normal knee motion, and provide shock absorption against compression forces between the tibia and the femur (Booher, 2000). Articular cartilage covers the ends of the bones that make up the joint. The articular cartilage surface is a tough, very slick material that allows the surfaces to slide against one another without damage to either surface. This ability of the meniscus to spread out the force on the joint surfaces as we walk is important because it protects the articular cartilage from excessive forces occurring in any one area on the joint surface, leading to degeneration over time (Sutton, 1999). Â Â Â Â Â Blood is supplied to each meniscus by the medial genicular artery. Each meniscus can be divided into three circumferential zones: the red-red zone is the outer or peripheral one third and has a good vascular supply; the red-white zone is the middle one third and has a minimal blood supply; and the white-white zone on the inner one third is avascular (Arnheim,1997). Â Â Â Â Â The medial meniscus is larger and more oval or C-shaped in the outline than the lateral meniscus. The medial cartilage is also more firmly fixed to the tibia and the capsule than the lateral meniscus; as a result, it is much more frequently injured than the lateral cartilage.
Sunday, September 1, 2019
Corporate Social and Environmental Responsibility Essay
In this article Christine Coupland discusses web-based forms of the reports and socially responsibility documents of five banking groups: Loyds/TSB, HSBC, The Royal Bank of Scotland, the Co-operative Bank and Barclays. Social and environmental reporting is a broad concern, and, therefore, separation of CSE issues will indicate the allocation of particular status. The study also focuses on the language as the site of action. The central argument is that organizations are socially constructed and emergent. The author uses discourse/textual analytic approach. Moreover, the author draws on media analysis techniques, and analysis of argument and rhetoric. Corporate social reporting is to simplistic. This claim is supported by official statistics aimed at revealing the key benefits of social and corporate responsibility. The author’s purpose of the paper is to challenge public views on benefits of social and environmental responsibility for organizations and web-based reporting. The research focuses on examination of how organization is presented and on five banking groups and the author argues that CSR considerations are becoming more and more important in business world as they serve to peripheralize the information. The article is useful to my research topic as Coupland suggests that organization is the only voice of apart from legitimizing bodies. The main limitation of the article is that little attention is paid to social and environmental reporting – I think the author should provide more information on the issue. Thus, the author indicates that social and environmental responsibility should be paid more attention. The article will not form the basis of my research; however, it will be useful supplementary information.
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