Oprah Winfrey Essay Example for Free

Oprah Winfrey Essay Oprah Winfrey, born on a farm in Mississippi to a teenage mother in 1954 came from nothing yet again is the world’s most successful lady who is a role model to many and has made it on her own. She is a success story, some one who has made history on American television by producing and hosting her own TV show, â€Å"The Oprah Winfrey Show† the show has won her countless awards and praises since its start in the year 1987. It is the top ranked show on television till this day (Oprah Winfrey Biography, 2006). She runs her own company. She has been the richest African American lady and the only Black billionaire in the world at one time and the most highly paid television host today. Success and Oprah have been together from the longest time. She has managed to win the hearts of all the Americans today with her hard work, determination, and dedication and confidence and has become the most watched television celebrity. She has been ranked the most influential lady of the 20th century from the past five years by the Time magazine (Oprah Winfrey Biography, 2006). She is considered as someone who can bring an enormous change because her popularity is beyond the pop culture and she has the capability and credibility to influence others. She has left a mark on everyone. Leadership is the ability to influence others by gaining the trust and support of the followers and Oprah has been able to do that. She is a born leader. She has all the attributes to become a successful leader and she has proved it to the world. It is her leadership qualities only that she has been able to maintain the standard of her show and live up to the expectations of her viewers. She runs a show, is an owner of a magazine, she’s into movie production, is a successful actress and all of these are her profitable businesses. She has become a brand name. She has set an example of being a superior and effective leader. She is intelligent and an educated lady, she is self confident she knows what she’s talking about. She has spoken on all kinds of issues on her show and brought the facts and figures in front of the world (Oprah Winfrey Biography, 2006). She is a stable lady, and flexible and honest and has an internal locus of control. She had the luck and believes in herself. She has the ability to understand others therefore she has created social awareness such as her effort to increase the awareness of child abuse where she was honest and bold enough to share her own child hood incident in front of the world. She has the communication skills to convince others and leave an impact and create a connection with the masses. During the time of Hurricane Katrina she made an appeal to everyone to openly donate and everybody did. Oprah runs her own charity too. She is a woman of high energy; she is running the show from the past sixteen years. Her role as the leader has been goal oriented and focused. She campaigned for Barack Obama last year. Only an effective leader can do so many things at one time. She takes timely decisions. She has adequate effort and talent and she knows how to spend it wisely. That is what leadership is all about. The queen of day time television has been an effective leader. She went through rough times during her childhood but she was a pessimistic and never lost hope. A positive attitude is an effective leader’s quality. Only when you yourself are positive you can motivate your subordinates. She was alert she wanted to create a change. She planned, organized, controlled and led while success followed her. She is good at what she is doing. Though she had all the fame and fortune this did not stop her from helping the under privileged. Oprah contributes millions of dollars every year for charities. She runs her own charity too. Good leaders make successful nations therefore the world needs more people like Oprah Winfrey.

Robert E. Lee Essay -- Robert Lee Biography Biograhies Essays

Robert E. Lee   Ã‚  Ã‚  Ã‚  Ã‚  Robert E. Lee was born on January 19, 1807 in Stafford, Virginia. The son of Lighthorse Harry Lee and was educated at the U.S. Military academy.   Ã‚  Ã‚  Ã‚  Ã‚  In 1829 he graduated second in his class receiving a commission as second lieutenant in 1836 and captain in 1838. He distinguished himself in the Mexican War and was wounded in the storming of Chapultepec in 1847; for his meritorious service he received his third promotion in rank.   Ã‚  Ã‚  Ã‚  Ã‚  He became superintendent of the U.S. Military Academy and later appointed colonel of calvery. He was in command of the Department of Texas in 1860 and early the following year was summoned to Washington, D.C., when war between the states seemed imminent.   Ã‚  Ã‚  Ã‚  Ã‚  President Abraham Lincoln offered him the field of command of the Union forces but Lee refused. On April, 20 when Virginia succeeded from the Union, he submitted his resignation of the U.S. Army.   Ã‚  Ã‚  Ã‚  Ã‚  On April 23 he became commander in chief of the military and naval forces of Virginia. For a year he was military adviser to Jefferson Davis, president of the Confederate States of America, and was then placed in command of the Army in northern Virginia.   Ã‚  Ã‚  Ã‚  Ã‚  In February 1865 Lee was made commander in chief of all Confederate armies; two months later the war was virtually ended by his surrender to General Ulysses S. Grant at Appomattox Court House.   Ã‚  Ã‚  Ã‚  Ã‚  The masterly strategy of Lee was overcome only by the superior resources and troop str...

Leading and motivating a team Essay

Leading and motivating a team effectively and understanding leadership †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. is registered charity providing social housing. Its vision is homes and neighbourhood’s we can be all proud of. They put customer’s first, keeping a strong financially viable, socially responsible, well governed business which is learning and growing achieving continuous improvements while obtaining value for money. My team Sustainment and Support(S&S) provides support, advice and assistance to customers who are vulnerable or in need. We successfully sustained tenancies and communities for tenants and will give them a platform to address other challenging issues and circumstances within their lives. The service is tailored to the individuals support needs, which is identified through the initial assessment. The support incorporates an action plan which is reviewed regularly to make sure the actions are being met. The most important characteri stics of a successful organisations is the clarity of purpose, adherence to core values, a distinct identity and a clear vision of the aim of the organisation. A good vision keeps the organisation moving forward and is a good motivator for the staff to achieve the set goals. All teams within the housing directorate have set goals and like the S&S team these have to be achieved. Without goals there would be no direction for the staff to achieve and participating in making the organisation successful. These targets and achievements are discussed at one to ones, and team meetings so team members are aware of how their performance contributes to the overall targets set at strategic level to achieve success overall. Other options available are away days, global emails to staff and group sessions. Not everyone likes to be communicated the same way. Email and literature works for some, but others would rather listen and talk. Respect the person you’re trying to communicate with and use the method they prefer. Clear communication and understanding is essential giving you the ability to deal with any issues or concerns that the staff have effectively and quickly. High performing teams will have clear understanding of roles and responsibility acknowledges the objectives, functions appropriately while carrying out the required task. Monitoring performance and regular 1-1s will indicate areas which require addressing, while allowing the team to be open and honest about what works and doesn’t and encouraging them to provide  feedback will show areas of strength and ways to improve. Receiving support and guidance from senior managers will enhance your own capabilities to lead the team UNDERSTANDING LEADERSHIPS STYLES – Kurt Lewin (phycologist) researched and created a model Lewins leadership Styles putting them in 3 categories .Authoritarian – provide clear expectations for what needs to be done, when it should be done, and how it should be done. Participative- offer guidance to group members, but they also participate in the group and allow input from other group members. And delegation -offers little or no guidance to group members and leave decision-making up to group members. A leader needs to analyse personal abilities, the group and the situation, then select the best leadership style. A leader who chooses the most appropriate style and has the ability to adapt is likely to be successful. There are many factors which could influence choice, size, skill, experiences and knowledge, individuals with different personalities and backgrounds. Large teams may have staff with varying levels of skill. This may require the manager to adopt a more authoritarian style, providing clear communication so that everyone knows what to do to achieve goals and tasks. On the other hand, team leaders may take a more participative approach with other managers of equal standing in order to get their own team functioning efficiently. The delegating leadership style is thought to be most effective when the followers are comfortable taking responsibility, and have the experience to accomplish the necessary tasks. The leader provides guidance in the decision making process; then delegates. Paul Hersey and Kenneth Blanchard were the first to describe the delegating leadership style and recommend that the leader move around the task maintenance grid with a specific situation. Group maturity is a measure of group growth and development High Maintenance and Low Task High Maintenance and High Task Low Maintenance and Low Task Low Maintenance and High Task Low – task behaviour providing direction High Authoritative management styles, which make expectations clear. These styles allow for little input or innovation from subordinates and may breed resentment, which can result in subordinates disengaging from the organization’s vision and lead to lower productivity levels. A leadership style that has significant positive effects on subordinates requires cultivation. It is as important to know the people on your team as it is to know your organization’s vision and policies, take time to learn about their families and hobbies. Developing your knowledge will enhance your respectability, and getting to know your team will create camaraderie and mutual trust. Willingness to listen, flexibility and mutual respect are, crucial to developing a leadership style likely to produce the coveted effects of high productivity, flexibility, innovation and loyalty on subordinates. Self assessment survey carried out as part of my ILM learning indicated scores of 34 participative (democratic) ,28 authoritarian(autocratic),24 delegation(free reign).During my Housing Diversity Network(HND) mentoring program I completed a more in depth assessment which highlighted my strengths weaknesses and potential leadership qualities sharing the report with my line manager, colleagues and mentor then receiving feedback I reviewed criticism constructively, examined my own skills and developed an action plan to address weakness’s to expand my leadership capabilities ,which included additional training, coaching, mentoring and attending workshops and seminars. Participative leadership is a managerial style I consider to have the attributes to succeed with, this links in with organisations working practices allowing structured teams to empower them selves delivering services which are flexible and adaptable while working within the guild lines of the companies policy and procedures. Motivate and developed at team To motivate a team to successfully achieve the set goals and to work effectively while maintaining and improving performance I feel the use of Abraham Maslow’s motivation theory as guidance that will ensure that the team are kept motivated The basis of this theory is that people are motivated by unsatisfied needs and that certain lower factors need to be satisfied before higher needs can.  As long as we are motivated to satisfy these cravings, then we are moving towards growth and self actualisation. Satisfying needs is healthy while preventing has a negative effect. My Sustainment and Support(S&S) south team was created in mid 2012 bringing together staff with various skills and different personalities. I assisted my manager to help motivate and drive the team forward to be successful in obtaining the objectives of the organisation within this new structure. This included having discussions in team meetings to see if any obstacles would hinder staff from functioning to their full capacity, identifying needs then implementing with team building exercises, which was forefront of the process. Maslow’s model mirrors this by making sure our working environment and personal needs are met, providing all aspects of s afety. Love and belonging created great team spirit and high moral which was required as to the intensive nature of the post, enhancing the team’s wellbeing by bringing in Yoga and meditation which created a team that functions well and gaining a reputation of successful tenant engagement where others have found it difficult, e.g. Tenant facing court proceedings for rent arrears ,not responding to Income management (IM) but engaging with S & S while we stabilise the tenancy. When these pre court visits were introduced team members initially refused to carry out this task stating it was not part of their job role. it was an IM function, discussions during team meeting about the subject matter became heated creating low moral .The following week I explained to the team if we carried out this task, was successful we could show case the talents of the team to the organisation, talked about the positive effects this would have on our clients and encouraged everyone to take on board , bein g able to communicate in this fashion proved successful. I supported and motivated a member of the team who I shall refer as C who was not functioning at the correct level and not achieving the teams and his own individual set goals. I was given this task as part of my own leadership development plus the manager had used all the resources and C was still not operating team’s objectives, this was having an impact on the rest of team as case loads increased. With the threat of disciplinary action and the impact this could have on the team I felt I had experience and knowledge to assist having previously been part of a team which included C for a number of years and was well aware their learning style. I now realise the process I used symbolises two theory  models working alongside each other Maslow’s and Hershey and Blanchard situation leadership style Looking at that model the four headings of Directing, Coaching, Supporting, Delegating I feel covers the method I used to resolve this problem Directing – Provide specific instructions clear and simple while closely supervising task accomplishments Coaching – Continues to direct and closely supervise task accomplishments, but also explains decisions, solicits suggestions and supports progress Supporting – Facilitates and supports subordinates efforts toward task accomplishments and shares responsibility for decision making with them Delegating – Turns over responsibility for decision making and problem solving to subordinates. If we look at the Maslow triangle Physiological – In this case study for C there was a lack of confidence, knowledge and understanding Security – C felt threatened in his new role that perhaps he couldn’t achieve but now he feels his expertise is being recognised Loving and belonging – C initially felt isolated that the team had developed quicker than him, with the team being a strong supporting group they also assisted in the process Esteem- self esteem was low but grew as C developed Self actualisation – This is about reaching full potential, where I feel there has been significant change and is more motivated, there is still more room for development Looking at the actions taken below I do feel that in the process, styles were combined together to achieve a result. Bibliography www.teambuilding.co.uk/team-building-theory-maslow.html ILM learning material

Essay on Causes Effects of the Holocaust - 1422 Words

Causes Effects of the Holocaust There are times in history when desperate people plagued by desperate situations blindly give evil men power. These men, once given power, have only their own evil agendas to carry out. The Holocaust was the result of one such mans agenda. In short simplicity, shear terror, brutality, inhumanity, injustice, irresponsibility, immorality, stupidity, hatred, and pure evil are but a few words to describe the Holocaust. A holocaust is defined as a disaster that results with the tremendous loss of human life. History, however, generally identifies the Holocaust to be the series of events that occurred in the years before and during World War II. The Holocaust started in 1933 with the persecuting and†¦show more content†¦Instead, he believed that the betrayal and trickery of Communists and Jews, the evil partners of the Allies, had defeated Germany. (Resnick p. 16) But, Exactly when Hitlers eliminationist hatred of the Jews took form in his mind is still a matter of debate. (McFee p. 2) Hitler was obsessed with the racial superiority he believed the German peoples had over all other inferior peoples. He wanted to rule the world, but in order to carry out his solution, he needed to convince the German people to listen to him. Perhaps Hitler would never have been able to do what he did had World War I never occurred. As Resnick said in his book, The Holocaust; After World War I, Germany was trying to rebuild and recover#8230;Both the Treaty of Versailles and the Great Depression severely afflicted Germany. In many respects, these terrible conditions made Hitlers rise to power possible. (Resnick p. 15) People in desperate situations will listen to anyone offering a way out. Hitler offered not only a way out of Germanys turmoil, but also someone to blame for it; he pointed at the Jews. The Jews were not the only people persecuted and exterminated by Hitler and his regime... (Resnick p. 11) Gypsies, homo-sexuals, cripples, Jehovahs Witnesses, Catholic priests, the terminally ill, and Communists would all fall victims to the hatred and brutality of the Nazis. However, the attributes that made them worthy for elimination, according to Hitler, were allShow MoreRelatedThe Cause And Effect Of The Holocaust1811 Words   |  8 Pages2015 The Cause and Effect of the Holocaust Throughout the endless history, there were lots of important and influential event. For example the Dark Age, Enlightenment, Civil War, World War I and II and the Cold War. Over all of these event, there was one event that deeply influence the world and the Jews today, it was the Holocaust. Holocaust, a term that people use to describe the horrible event that happened during World War II which kill millions of innocent citizens. The Holocaust started atRead MoreThe Holocaust : The Causes Of The Holocaust804 Words   |  4 PagesAfter WW2, there was a thing called the holocaust. There were many concentration camps all over Germany where many Jews were killed in different ways. It happened between WW1 and WW2, 1933-1945. My position on why this happened is that Germany was going through a rough time, so Hitler wanted their country to resemble power. Read on to learn more about the causes and ways the Holocaust could have been avoided. The Holocaust was a mass slaying of groups of people which that Germany saw as inferiorRead MorePost Traumatic Stress Disorder During The Holocaust Essay1297 Words   |  6 Pages PTSD in Holocaust Survivors The Nazis killed over six million Jews and millions of other Polish and Soviet civilians in the Holocaust. They also killed gypsies, physically and mentally disabled people and homosexuals. The number of survivors today are quickly dwindling down. Clinical psychologist Natan Kellermann defines a Holocaust survivor as any Jew who lived under Nazi occupation and was threatened by the â€Å"final solution† (Kellermann 199). This definition can be applied to not only Jews, butRead More`` Maus `` By Art Spiegelman And The 1997 Film Of Life Is Beautiful1557 Words   |  7 Pagesthe Holocaust. Maus, although presented as a graphic novel, strongly depicts the story of Vladek, a Holocaust survivor through his son’s recollection of the unfortunate events that occurred to him while evidently containing a torn relationship due to the effects of surviving one of the most tragic events in history. Whereas the film, Life is Beautiful portrays the tale of a Jewish family told by the forever appreciate son, Joshua, of Guido who creatively distorted the reality of the Holocaust to preserveRead MoreEssay on The Holocaust: The Concentration Camps1484 Words   |  6 PagesHolocaust is the most terrible human action in the history. It absolutely marks the ending of the previous mentality of human-beings. Therefore, a new round of discovery of evilness of human nature has been established. Best uncovering the truth of Holocaust will help prevent the furthur destuction of humanism, which is the most important mission of the society after World War II. There are many sources of Holocaust trying to best uncover the truth, such as the inhabitant’s experience of the immediateRead MoreThe Holocaust And Its Importance1382 Words   |  6 Pages Mrs Keeley ENG 111-4201L 08 April 2016 Remembering The Holocaust and its Importance In history, there has been many important events that were brought about to make the world as we know it today. One of the most important eve nts was world war II. This was a war that had many countries battling each other to try and stop the spread of communism. However, for one country it would have an everlasting impact on their history based on the massacre that happened during that time. Adolf Hitler was a viciousRead MoreThe s Argument That The Holocaust Is Only Available Through Representation758 Words   |  4 Pageslearning from traumatic experiences. Miller references Susan Suleiman’s argument that the Holocaust is â€Å"only available through representation†. Suleiman made this argument in response to Holocaust deniers who claim that fictitious memoirs confirm the inexistence of the Holocaust. However, the point supports the idea that art, including literature, allows the public to experience something like the Holocaust that otherwise would be not be available to experience. On the other hand, Miller successfullyRead MoreAnalysis Of The Book Night And The Movie 1564 Words   |  7 Pagesthrough major changes due to their experiences of the Holocaust, a period in history no man would want to envision. Schindler’s List is created to convey a different side for the tragic time in history, an ordinary businessman. This businessman, Oskar Schindler, wants to prove that there will be hope in this desperate time. However, the motive behind Night is different. In Night, the author Elie Wiesel aims to describe his experiences in the Holocaust to avoid the past from reoccurring. Hence, NightRead MoreAnalysis Of The Book Maus 864 Words   |  4 PagesSpiegalman’s experience to be his best credential. Maus is a graphic novel that depicts basically a cat and mouse representation of the Holocaust. A graphic novel as defined by Webster’s dictionary is a â€Å"fictional story that is presented in comic strip format and published as a book.â⠂¬ (1) Maus tells the story of Spiegelmans father, and his experience as a Jew during the Holocaust. A subtopic within the novel includes Spiegelman interviewing his father, Vladek, and getting him to tell his story. All of theRead MoreThe Dark Times Of The Holocaust1088 Words   |  5 Pagesthe world every single day history is being made. And after a few moments, that’s just what it is-history. We can either learn from our mistakes over time, or we can recreate them. Most people think it’s best to learn from the dark times of the Holocaust then to relive them. Courage and bravery are great characteristics to have, but when you hold too much of them in you it will take you over. It will control you and take your whole body over slowly. Lots of historians believe this is what happened

Study On Corporate Governance In The Middle East Finance Essay - Free Essay Example

Sample details Pages: 12 Words: 3520 Downloads: 4 Date added: 2017/06/26 Category Finance Essay Type Cause and effect essay Did you like this example? Middle East and North Africa (MENA), Region, state-owned enterprises (SOE), Gulf Cooperation Council (GCC) ,International Federation of National Associations for Accountants and lawyers(INSOL Introduction: Good corporate governance is essential for modern, well-managed corporations. Many Middle Eastern enterprises have reached a stage in their corporate life where improving transparency, professionalizing board practices, and reinforcing shareholder rights have become crucial to their future growth and competitiveness. Recent interactions in the Middle East clearly revealed the importance of governance, with people recognizing both international governance principles and how such principles fit within their individual cultures. Board functions, board and management relations, and directors responsibility to act in the best interests of the company they serve (rather than of those who elected them) were all apparent principles. Fundamental to democracy is citizen participation, the freedom to assemble and the freedom to petition the government. A high level of interaction and dialogue between the state and the private sector on issues of concern increases effectiveness. Business organizations and business leaders must be able to share their positions with the government officials who respect their views. When the private sector advocates for legislative reform to improve the business environment and the countrys economy, and the government responds positively, governments in the Middle East and elsewhere are recognizing the positive benefit to society as a whole. Governance is a journey, not a destination. With the participation and voices of the public and private sectors of all countries, in the Middle East and around the world, we all continue to grow together, positively affecting our companies and our countries. Corporate Governance has been practiced for as long as there have been corporate entities. Yet the study of the important crucial subject is less than half a century old. Indeed, the phrase corporate governance was randomly used until the 1980s.The 19th century saw the foundation laid for modern corporation: this was the century of the e ntrepreneur. The 20th century was the century of management: the phenomenal growth of management theories, management practices, management consultants, management institutions, management teaching, and management gurus, which all simultaneously reflected a pre-occupation with different styles of management. Now the 21st century promises to be the century of thinking on the subject of governance: As the focus swings to the legitimacy and the effectiveness of the wielding of power over corporate entities worldwide. Governance issues arise whenever a corporate entity acquires a life of its own, and the basis of ownership of an enterprise is separated from its management. A much quoted comment by Adam Smith shows that he understood the issue of corporate governance, Don’t waste time! Our writers will create an original "Study On Corporate Governance In The Middle East Finance Essay" essay for you Create order The directors of companies, being managers of the peoples money than their own, it cannot well be expected that they should watch over it with the same anxious vigilance with which the partners in a private copartners frequently watch over their own (smith 1776). New concepts of corporate governances: Overall, corporate governance continues to evolve. The metamorphosis that will determine the bounds and the structure of the subject has yet to occur. Present practice is still rooted in a 19th century legal concept of the corporation that is totally inadequate in the emerging global business environment. Present theory is even less capable of explaining coherently the way that modern corporate organizations are governed and worked. The recent financial crisis prompted by the securitization of sub-prime mortgage loans in the United State, which led to the collapse, takeover and, in some cases, nationalization of banks and other financial institutions around the world raised some fundamental corporate governance issues. There are few questions rise up in my mind: Where were the directors of these failed institutions, particularly the independent directors who were supposed to provide checks on overenthusiastic executives? Did the boards understand their firms exposure to strategic risk? Will those who designed and encouraged the derivative products and securitization systems be held to account? Did the auditors ensure that their clients exposure to risk was reported? Were any of the companies, financial institutions or financial intermediately activities illegal? The global economic and financial crisis is also affecting the MENA region, and threatening its capacity to attain the necessary level of economic growth in order to meet the demands of citizens in search of improved welfare, without destroying natural resources. One of the fundamental lessons to be learned from the global financial crisis is that future strategies cannot be adopted without coordinating public policies at all levels of governance, and without the participation of government, local authorities, legal advisor, civil society and the media at different levels. Around the world, in large and small corporate, in the public and the private sectors, governance has become the focus of attention. The exercise of power over corporate entities, the legitimacy of companies and their directors, the effectiveness of governing bodies, and their accountability in society have become crucial topics. The innovative field of corporate governance is expanding and changing dramatically at very fast pace. Twenty-five years ago the phrase corporate governance was not used in corporate sector but now, it is frequently and prominently being used in corporate world. Corporate Governance in Middle East region: For the past few years a corporate governance movement has been sweeping through the Middle East and North Africa (MENA). Practitioners from capital markets, banks, the public and private sectors, and other civil society groups have accepted the need to address corporate governance reform as one of the crucial aspect affecting the international competitiveness, the investment climate and the development of the capital markets of the MENA region. This collaboration is crucial because corporate governance ultimately depends on public-private sector cooperation to achieve the goals of creating a competitive market system and the development of a law justice based society. Recent research and experience show that certain key corporate governance arrangements are critical to private-sector which has led economic growth, enhanced welfare activities, increased flow of investment, development of capital market, financial market efficiency and corporate sector performance. MENA countrie s, in their efforts to stimulate growth, employment and investment, increasing acknowledge the talent and has improved corporate governance for the success of the economic reforms. MENA countries in co-operation with the OECD working group and other multilateral or bilateral association is also working on governance in order to highlight priorities and possible suggestions and recommendations for reform to improve corporate governance frameworks, promote legal changes and progress with reforms of the corporate governance of state-owned enterprises (SOE). In Middle East region, businesses are classified as having: Concentrated ownership, with strong family ownership of both private and listed, companies with state ownership. Dominant family oversight and control, with leadership from the head of the family, entrepreneurial decision making, opaque communications, and relationship base trading. Debt financing in which bank financing is often more than shareholders equ ity. Banking sector equity investment, with banks holding significant shares in companies. The states are typically grouped together as the Middle East and North Africa (MENA). The MENA region includes: Table: A The MENA states ________________________________________________________________________ Algeria Jordan Iraq Morocco Syria Bahrain Kuwait Iran Sultanate of Oman U.A.E. Egypt Lebanon Israel Qatar Tunisia Djibouti Libya Malta Saudi Arabia West Bank and Gaza ________________________________________________________________________ Sources: https://go.worldbank.org/ Broadly, some of these countries have relatively low GDPs and slow industrial growth. In recent years the oil producing countries, benefiting from rising oil prices, have generated large surpluses, which have been invested abroad. Banking reforms have attempted to channel some of these saving into local growth, but domestic financial markets were not so emergent. States also appreciate the need to attract foreign direct investment (FDI) and, therefore, recognize the importance of sound corporate governance. Since the capital markets are not so emergent characterized as small size therefore facing liquidity. Consequently the market does not offer opportunities to investors. Of course there are exceptions to such aforesaid general observations, like Dubai Abu Dhabi (UAE) are making massive investment in tourism and property, whilst attempting to become an international financial centre. Recent evidence shows in UAE, Burj Khalifa is not a just a building, it is a global icon. As the tallest free-standing man-made structure in the world, the gleaming tower reaching to 828 meters in the sky is an example of courage and mans ability to realize the dreams. The MENA region is an economically diverse region that includes countries with a common heritage and significant distinctions in levels of per capita income. Mostly is single-commodity (oil) economy dependent, despite the continuous and tremendous efforts done to diverse the economies. The countries region can be categorized in three distinct economic statutes. The first are the early reformers such as Egypt, Jordan, Morocco and Tunisia which embarked on economic reform programs since mid-1980s opening up their economies to foreign investments, privatizing state-owned enterprises, reducing budget deficit and inflation and liberalized their trade. Securities markets in these countries were established and revitalized5 to be the main vehicle for implementing the privatizati on program. The second are the oil exporting states mainly the Gulf Cooperation Council (GCC) in which their economies heavily dependent on producing and exporting oil. They achieved relatively macroeconomic stability mainly for the continuous increase in oil prices and despite of the recent Iraqi war. Despite the strong fundamentals of these economies, securities markets role, in most of GCC countries, yet minimal in growth. The third category are countries still hasnt achieved economic stability yet either due to political instability such as in West Bank Gaza and in Iraq, or they are in their early stages of reforms such as Lebanon, Syria, Algeria, Sudan, Libya and Yemen. Securities markets in these countries are either relatively small or doesnt exist. The MENA region GDP, in terms of current U.S. dollars, is near US$ 600 billion, about 2% on average of the Worlds GDP in 2001 and 20027. Due to the substantial increase in oil prices, national savings -especially in the oil producing countries- exceeded investments resulting in substantial accumulation of financial assets abroad. Saudi Arabia and Kuwait constituted 3.3% and 2.4% respectively of total global export of capital flows in year 2001, while in 2002, Saudi Arabia share declined to 2.2% and for Kuwait was below 1%9, which might explains the outstanding performance of both markets recently. Market capitalization of MENA region markets amounts for US$ 209 billion in 2002, about 1% of world market capitalization10 and about 35% of MENAs GDP. Saudi Arabia is the largest in terms of capitalization with 36% of total market capitalization of MENA markets in 2002, followed by Kuwait and Egypt with share 17% and 12% respectively. The most active during year 2002 was Kuwait Securities Market with 61% turnover ratio11 followed by Saudi Arabia and Egypt with 41% and 24%, respectively. Six of the eighteen MENA countries (Algeria, Egypt, Jordan, Morocco, Tunisia and the United Arab of Emirates) und ergone the exercise of Report on the Observance of Standards and Codes (ROSC) of the World Bank and International Monetary Fund (IMF). The exercises covered four main areas out of ten. Egypt, Jordan and Morocco are represented in the SP/IFC indices and in the MSCI EMF indices. Saudi Arabia and Bahrain are represented only in the SP/IFC indices. With exception of Egypt, Jordan and Morocco which opened their markets to foreign participation since they embarked on economic reform programs, still some shared a main characteristic of restricting foreign participation and ownership, mostly in GCC countries. In GCC countries, access to their capital markets was restricted to GCC nationals and residents only. However under the pressure to diversify their economies and the attempt to be immune from volatile oil prices, regional markets commenced on allowing gradually foreign investment in their market. Bahrain was one of the earliest GCC countries that opened up its market to foreig ners. According to an Amiri decree, non-GCC residences have been allowed to own up to 49% of capital. Also, Bahrain Stock Exchange was the first to list non-GCC Company. Oman opened its market to foreigners since 1998 with the issuance of Royal decree number 80. As for the Kuwaiti market, currently foreigners are allowed to participate in the securities markets. Under the new Foreign Direct Investment Law issued in April 2001 foreigners are allowed to own up to 100% of Kuwaiti companies subject to some conditions. As for portfolio investments, Portfolio Foreign Investment Law issued in September 2000 allowing foreigners to own and trade shares of joint-stock companies listed on the Kuwaiti Stock Exchange condition on neither an individual nor group of foreigners may own more than 5% of capital of a Kuwaiti bank unless approved by Central Bank of Kuwait. Saudi Arabia allows foreign investors to participate in the securities market through investing in open-end mutual funds. In 199 7, the first special purpose vehicle (SPV) was established to facilitate foreign portfolio investment in equities. Qatar, recently, allowed GCC citizens and expatriates to invest in the Doha Securities Market as an initial phase to introduce new law that will allow foreign investments. Dubai Declaration on Corporate Governance: The Dubai Declaration by Hawkamahs first MENA conference in Dubai formulates a road map and key corporate governance initiatives for the region, writes Bhaskar Raj Good corporate governance is a vital key factor in sustaining economic growth and development in the Gulf region. Policy makers are taking the lead and committing to secure significantly higher standards of corporate governance in the member countries of the GCC. Policy makers, regulators, representatives from regional and international organisations, and business leaders from across the Middle East and North Africa, representing countries of Bahrain, Egypt, Iraq, Jordan, Kuwait, Lebanon, Morocco, Oman, Qatar, Saudi Arabia and the UAE, gathered in Dubai to jointly issue the Dubai Declaration on Corporate Governance. This was a landmark event for the region, and they agreed upon following initiatives for reforms in governance: The criteria of two taskforces: one focusing on the corporate governance of banks; and a s econd focusing on the corporate governance of State-Owned Enterprises. The issuance of two policy briefs: one for banks; and a second for SOEs; both to be approved by the relevant taskforces. The consideration of issues relating to the corporate governance of Shariah compliant banks and financial institutions and the importance of ensuring that regional corporate governance frameworks and standards are in line with international codes and the key standards, whilst at the same time remaining consistent with Shariah rules. The preparation of a corporate governance survey of SOEs, to be developed on a consultative basis with the cooperation of key organizations and governments. The recognition of a need to tackle issues surrounding insolvency and corporate restructuring. The Hawkamah Hawkamah, the Institute for Corporate Governance, is a regional entity whose mission is to assist countries and companies of the wider MENA region in developing sound and globally well-integrated corporate governance frameworks, policy and practices. It supports regional and international initiatives to develop open and transparent markets and sound corporate governance regimes. The OECD and Hawkamah works with INSOL and the World Bank and invite ministries, financial institutions, the judiciary, representatives of OECD countries and other regional and international bodies, to meet and to discuss these issues during the first half of 2007. Executive Director of Hawkamah Nasser Saidi outlined Whilst there is still a need for raising awareness and capacity building in this field, we have made significant headway in terms of taskforces, policy briefs, addressing corporate governance in Islamic banking and finance, corporate restructuring and insolvency, family-owned enterprises and small medium enterprises. We now move towards concrete actions and direction resulting from these principles, facilitating the design of a comprehensive roadmap for corporate governance in our region. This will enable us to achieve our ultimate goals of encouraging investment, project finance, job creation and the development of sound financial markets. Need for successful corporate governance: The values of corporate governance: transparency, accountability, and responsibility offer the key for the modernization of the countries of the Middle East and North Africa. The private sector business community can play a leading role in economic, political, and social reforms in the region. In fact, reforms led by the private sector provide the greatest promise for meeting the challenges caused by the regions tepid economic growth and surging youth demographic. Sound corporate governance practices will attract new, much needed investment to the Middle East and North Africa because they improve their management of firms and reduce risk. National institutions, laws, regulations, and practices based on international norms and standards would enable the countries of the region to modernize their corporate sectors, enabling them to attract technology and foreign investment and become internationally competitive. Furthermore, political and sovereign risk would be reduced and econom ic performance and outcomes would be de-linked from ruling political regimes and a dependence on oil and gas resources. Perhaps more importantly, the process of designing and implementing the basics of corporate governance-transparency and regular reporting, independent auditing, removal of conflicts of interest, ethics, protection of minority shareholders rights-provides a foundation for meaningful reform in the economic sector and elsewhere in society. It is clear that there is no one ideal structure for corporate governance. Many alternative structures can work well in the appropriate context. In fact, despite all the commentary on governance structure-unitary and two-tier board, the proportion of INEDs, the separation of chairman and CEO, board committees and the rest, the issue of effective governance is not really about structure but about process. As we have seen some of the different ways countries and cultures apply in the corporate governance, we can now identify the fe w thrust areas that are needed to support successful governance. These include: Accounting and legal professions that are internationally respected, able to discipline their members, and ensure compliance with accounting standards, and legal requirement. A companys registry that facilities comprehensive disclosure, with high levels of transparency. Always vigilance regulatory authorities including securities and future market regulators. A stock market with sufficient degree of liquidity, standing on international norms and foreign and institutional investors. Auditing firms that are professionally managed, reliable, and independent of their clients. A reliable legal system including an independent judiciary, courts that are bias and corruption free, and judgments those are enforceable, free of state or other political pressures. Accountability fix for financial institutions, including brokers, sponsor for new issues, and financial advisors. Professional orga nizations such as director and company secretary qualifying and disciplining bodies. Accountability also given to educational institutions to develop education standard and train for relevant qualifications require for corporate governance. Consulting agencies able to advice companies and its directors. With the support of private and public organization, seminars, workshop to be conducted or organized on different platforms, and conclusion report to be sent to competent authority for taking decisions. Research institution making research on different aspects of corporate governance according to the need of region. Research publications, international conferences and professional journals play a significant contribution to the convergence of corporate governance thinking and practice. Formulate corporate governance codes of good practices. Just implementing Western rules and standards will not improve corporate governance and accounting quality in MENA region. Stan dards alone do not help. There need to be more disclosure on key government variables and related party transactions. They are more important than accounting. Other important changes include building the right market infrastructures and systems for companies to operate, as well as leveling the playing filed between government-owned and privately-owned firms. Conclusion: The paper attempted to provide an overview on corporate governance in the MENA regions markets.. It is evident that MENA markets in the recent decade undergone number of reforms and restructuring on legislative and infrastructure fronts. However, cautious should be taken while adopting and implementing measures of reform. Moving towards a self-regulatory organization (SRO) model without matured institutions is dangerous. Limited institutional capacity, overlapping regulatory functions among authorities and lack of fast track dispute settlement are impediments for SROs. Maturity is not only in terms of laws and regulations but also in terms of practice and enforcement. Thus, adopting self-regulatory organizations (SRO) model remains a future challenge to regional markets. Market discipline, with its various tools, still not yet developed to an extent that improves corporate governance practices; markets are either inefficient or utmost weakly efficient. Thus proper valuation and realized premiums are not really reflective to the soundness corporate governance practice. Thus, market discipline is an element that will not be observed until markets efficiency improves and investors culture develops. Market discipline is both a result and supplementary of massive reforms towards better governance which is only observed in matured efficient markets. Thus, reformers should work on allowing appropriate and even environment for both systems. Which of either system are best for regional markets? Is a question imposes itself. Fundamentally, traditions and cultures should be allowed implicitly to choose their acquaintance with one of the two systems and not vice versa. Using the opposite direction might result in institutional failure, market crises and the collapse of the investors wealth. Previous emerging market crises were good evidence. The key issue is that sound corporate governance practices are reached when trust and confidence is observed. Policy maker s and reformers should realize that better corporate governance practices is function of the soundness of the total system and that this parameter is significant and influential given the characteristics of the regional markets.

The Fence Between Bonnie And Amanda s Property - 1869 Words

The issues generated in consideration of the contested property line between Bonnie and Amanda’s property include: i) Conventional boundaries: Does the fence between Bonnie and Amanda’s house constitute a conventional boundary? ii) Improvements by Mistake of Title: Whether the improvements made by Bonnie constitute an entitlement to the land. i) Conventional Boundaries In circumstances where the true location of a boundary is unascertainable, the conventional line doctrine provides abutting property owners the ability to create one. After a conventional boundary has been legitimately established, Robertson v. Alberta provides that the property owners maintain the security to rely on the boundary to lawfully develop the land under the†¦show more content†¦In fact, the previous Kardashian owners assumed that the fence was an accurate indication of the property line, which they thought was located directly between the houses and therefore never attempted to ascertain the actual location of the boundary. If the uncertainty of the boundary was never acknowledged, the principles found in Bea v. Robinson finds that a conventional boundary could not be existing because was no attempt to ascertain the actual boundary. Bea v. Robinson states that this attempt is a mandatory element in the foundation of a conventional boundary. Even in the presence o f strong evidence that the boundary was agreed upon and treated as a boundary, it seems likely that the test for conventional boundaries must fail in consideration of the fact that the surveyor Amanda hired was able to ascertain the true boundaries which were not consistent with that of the fence. If the doctrine of conventional lines fails, the â€Å"foundational principle† (lecture) of estoppel provides no security for Bonnie in the reliance on the boundary to build. ii) Improvements by Mistake of Title Under the conditions that a person genuinely believes land is their own and is mistaken, statue law provides an equitable remedy when individuals have invested in â€Å"lasting improvements† to the land. The Improvements Under Mistake of Title Act, R.S.S. (1978)

Moral Accountability Essay Example For Students

Moral Accountability Essay Morality depends on the ability of an individual to choose between good and evil, thus, entailing freedom of the will and the moral responsibility of the individual for his actions. It is obvious this is so for the individual, but what about groups and governments? Do they have the ability to choose between good and evil, do they have free will and therefore are they subject to the same paradigms of morality as the individual or does an autonomous morality apply. What if we relate this concept of morality to a present day moral dilemma? Such as should the United States government fire cruise missiles at Serbian cities in order to force the government of Serbia to comply with NATO demands of withdrawal from Kosovo? What moral questions should be asked? Further yet, as we are members of a representative democracy, do the citizens bear any of the responsibility of the governments actions? Am I responsible for the government I choose? Being that it is the actions of a governments we wish to question the morality of, we must know what the present justification for or against the launch of cruise missiles at Serbia and what the consequences of that decision would be. It can be conjectured that the official rational of the United States government in its decision to use cruise missiles on Serbia is based on cost/benefit analysis of what would be in the best interest of the nation and the worlda utilitarian morality. The Serbian government has invaded and seeks to undermine the sovereignty of Kosovo while using genocidal tactics to control the population. The US is acting on what it believes to be the greatest good for the greatest number. But who is the government to place a market value on human life? Is it moral and does the government have the right to place such a value on human life? And who is responsible for their decision? The official utilitarian rationale of the United States government does place a market value on human life Kant writes: Now morality is the condition under which alone a rational being can be an end in himself, for only thereby can he be a legislating member in the kingdom of ends, survival of the individual in a group is the end. If we are to treat men otherwise, as a means to an end, we must make that a categorical imperative and we must treat it as if that action will be a universal law of nature laws to live by). Hence, to do harm to others, to place a market value on man, would be immoral since it would harm humanity. Likewise, it is immoral for the United States to sacrifice ten thousand lives in hope of saving more. It must be asked what if everyone sacrificed ten thousand lives?. According to Kants theory of the Universal law, We must be able to will that a maxim of our action become universal law, this is the canon for morally estimating any of our actions (Kant). Perhaps it is a touch ironic that the very document the US was founded on reads: We hold these truths to be self-evident: that all men are created equal; that they are endowed by their Creator with certain unalienable rights; that among these are life, liberty, and the pursuit of happiness. This, like Kants moral philosophy of universal maxims, proclaims that man has intrinsic absolute value. Yet, so quickly are we ready to disregard this declaration as our cost benefit analysis dictates. Slavery was abolished on the principle of the absolute value of man. Why should we disregard this now? Do we suspend the unalienable rights to life whenever it would be most prudent? The 24 Hours Essay It must be remembered that by lowering the value of life of others, we at the same time lower our own value. Governments and institutions are composed of a completely different dynamic than that of the individual. This leaves man curious as to whether to obey the same set of morals. These moral issues lead to the question of whether .