Illegal Immigration Issue Research Paper Example | Topics and Well Written Essays - 1000 words

Unlawful Immigration Issue - Research Paper Example To help my contention, the unfavorable impacts achieved by illicit movement, especially as far as business uprooting of residents and causing of extra standardized savings consumptions of the legislature, are featured. Through the media, the idea of unlawful movement has been profoundly romanticized. Displaced people, as unlawful settlers are regularly alluded to, are depicted as the persevering outskirt crossers who endeavor to accommodate their families deserted (Weissinger). Many feel compassion toward the predicament of these individuals who hazard their own lives looking for greener fields. This is a similar feeling inspired in me during a meeting with Mr. Diaz, an illicit foreigner from Mexico who has been working in a nearby retail location for a year at this point. Scarcely ready to talk professional English, he described how outrageous neediness in their country has prompted him to search for a better than average occupation over the outskirt. With his activity, he can send cash to his family with the compensation he as of now acquires, a long ways from the amount he would have gotten in Mexico. In the impression of US-based bosses, unlawful settlers are seen as a modest wellspring of untalented work, which they could undoubtedly tap (Hanson). Note that expatriates, given their franticness to promptly get occupations, eagerly acknowledge generally lower compensation when contrasted with the nearby work power (Costs of Immigration). Others accept that unlawful migration is really a success win circumstance, wherein the poor nation from where the expatriate began acquires dollars from settlements, while the host country exploits lower work cost with the huge specialist pool made accessible (Hanson).â Given these recognitions, the genuine issues legitimately identified with unlawful movement are clouded. The ensuing segments uncover what lies underneath the basic conviction and shed lights on the impacts of migration on government use, populace development and on other financial elements (Siew-Ean).

The History And Background Of Ethical Egoism

The History And Background Of Ethical Egoism Presentation Morals, in Greek language implies ethics. Indeed, morals is de⠬⠁ned as the re⠬‚ection on what is good Ethical hypotheses manage the subject of how people should carry on comparable to each other. (Dontigney, 2012 They endeavor to systemize, protect and suggest ideas of good and bad conduct. They can be applied both separately and on a greater scale like in organizations. Various organizations settle on their choices dependent on different arrangements of speculations. These hypotheses are increasingly similar to perspectives from which guides them when settling on a choice. Every hypothesis impacts choices made by an individual or organization like foreseeing a result or following obligations to arrive at what is called a morally right decision.For an organization to focus in on a solitary hypothesis to follow, it is significant for the organization to understand that not every person settles on choices similarly. There are mostly two unique arrangements of moral hypotheses. Teleological which are significant hypotheses and deontological which are non-noteworthy speculations. These can be additionally separated into moral selfishness, utilitarianism and temperance morals for teleological hypotheses and for deontological speculations; it would comprise of Kantian and equity morals. Let us investigate every one of these speculations before saying something on which hypothesis is the most valuable in settling on organization choices. Teleological Theories The word teleology in Greek language implies closes. It is increasingly worried about the finished result of a choice made instead of the actions.The goodness or disagreeableness of the result represents the moment of truth the choice made. In any case, the activities embraced have no state. A model as indicated by this hypothesis can be, slaughtering an awful individual is ethically right in the event that it is for more noteworthy's benefit. Moral Egoism Moral pride is a normalized or an acknowledged philosophical view. It contrasts from mental selfishness, which asserts that individuals can just act to their greatest advantage. It doesn't depict how individuals act however how they should act. Moral vanity is the standardizing hypothesis whereby individuals should act solely to their greatest advantage (Jones et al., 2007). Along these lines, the ethical standard of moral vanity proposes that a demonstration is moral when it advances the people long haul intrigue. It is workable for individuals to help other people, adhere to the principles of society, and even award endowments on the off chance that they accept that those activities are in their own wellbeing. Moral vanity is not the same as the other moral situations as it depicts that different people groups interests is or ought to never be considered in settling on an ethical choice. A moral prideful person thinks relinquishing something for others is anything but an ethical ac tivity except if it makes them cheerful or if the penance gives himself benefits. This could fulfill an individual for the time being, however over the long haul it isn't prudent as though everybody is similarly as prideful, no one would need to help when in the midst of hardship. A model would be that this person who wants to shop. She sees this dress in a shop and needs to purchase. Nonetheless, she just has enough cash to purchase nourishment for her family unit. So in a demonstration of moral selfishness, she chooses to spend the food cash on the dress as opposed to getting nourishment for her family as it benefits her and couldn't care less about the individuals at home who have not had their food. Utilitarianism An utilitarian considers accomplishing something is correct if the activity demonstrates valuable in realizing the best outcomes at long last. Utilitarian chiefs are required to appraise the impact of every option on all gatherings concerned, and to choose the one that enhances the fulfillment of the best number (Velasquez, 1998). Utilitarianism speaks to the prevailing and most persuasive outcome based or teleological hypothesis. Utilitarianism centers around closes and not on the methods required to accomplishing those finishes and it considers all present and future advantages and damages that collects or may accumulate to any individual who is influenced by the activity, including things that might be hard to assess precisely (Schumann, 2001). So in this hypothesis, unmistakably as long as the work is done or the result of an activity is attractive, one can embrace any strategies. The blemish of this strategy is that it doesn't expect that all people ought to be treated similarly . A genuine model would be the Americans bombings in Japan during World War 2. The Americans point is that the Japanese were building up a similar sort of weapon to take up arms so if that occurred, numerous different nations could be influenced. So before such a debacle could occur, they acted early and dropped their very own bomb, slaughtering thousands instead of yielding millions. Ethicalness Ethics The general idea driving Virtue Ethics is that it centers around what the individual ought to decide for his/her very own internal conduct or character instead of the individual depending entirely on the outer laws and customs of the people culture, and on the off chance that a people character is acceptable, at that point so should the people decisions and activities be acceptable. (Gowdy, 2010) This hypothesis as it recommends, is utilized to settle on moral choices. This strategy depends on the individual having moral character and goals, and their activities being moral on that premise. It depends on an individual and not on different factors, for example, religion, society or culture. It depends on the inquiry what kind of individual should I be as opposed to what should I do. In straightforward terms, it is a greater amount of ones character and respectability. Its about what you are, as opposed to what you do. This is to a greater extent a training information. The more you pr actice, the more ethical you are. The more idealistic you are, the more you will almost certain settle on moral choices. There are numerous guides to this hypothesis like, not taking, not taking clinical leave except if you are honestly wiped out, appearing at gatherings or work on schedule and not lying except if it is for a decent purpose. Deontological Theories Deontological speculations, or obligation based hypotheses, hold that people have an ethical commitment to follow certain standards. Deontology is one of those sorts of standardizing hypotheses with respect to which decisions are ethically required, prohibited, or allowed. (Alexander et, al, 2008) According to these speculations, the rightness or unsoundness of activities doesn't rely upon their outcomes yet on whether they satisfy our obligation. Equity Ethics As per Rawls (1971), under a cloak of numbness, objective, self-intrigued, and equivalent people will concur that every individual is to have an equivalent right to the most broad all out arrangement of equivalent essential freedoms. Additionally, social and financial disparities are to be masterminded with the goal that they are both to the best advantage of the least advantaged, and joined to workplaces and positions open to every single under state of reasonable uniformity of chance (Budd, 2004). In Rawlss conclusion, the principal righteousness of social organizations is equity for the individual and not total government assistance. He is concerned more with how the pie is partitioned than with how enormous it is. Disparities are simply just on the off chance that they bring about advantages for everybody, with specific accentuation on the least advantaged (Jones, 2007). The hypothesis of equity requires chiefs to be guided by value, decency, and fair-mindedness (Cavanagh et al., 1981). It depends on three sorts of good remedies: (a) that people who are comparative in an applicable regard ought to be dealt with likewise and people who are distinctive in a pertinent regard ought to be dealt with contrastingly in relation to the contrast between them; (b) that rules ought to be administrated reasonably and obviously; and (c) that people ought not be considered liable for issues over which they have no control, and ought to be made up for the expense of their wounds by those answerable for these wounds (Cavanaugh et al., 1981). Dynamic and thinking dependent on the hypothesis of equity center around the distributional impact of activities (Cavanagh et al., 1981). Proclamation and Conclusion Presently since all the speculations have been clarified and broke down, the time has come to say something on which moral hypothesis is the most valuable in managing organization choices and why so. In view of my exploration, I feel that utilitarianism is the most helpful and very significant in directing organization dynamic. One can contend that utilitarianism doesn't satisfy everybody sincerely and just considers the comprehensive view. A demonstration or decision is ethically right if, in completing the demonstration, one activities, displays or builds up an ethically prudent character. It is ethically off-base to the degree that by settling on the decision or doing the demonstration one activities, displays or builds up an ethically horrible character. (Garrett, 2005) Every hypothesis has its own one of a kind advantages and disadvantages. In any case, for an organization to settle on the right choice in pushing ahead, they must be utilitarian. During circumstances such as the present, an organization is decided on how much benefits they make and what is the situation of the organization. To be as well as cannot be expected, surrender to your feelings and set of rules of what to do and what not to do. The principle point here is to harvest the sows. Business supervisors need to understand that with regards to business choices, its consistently a success lose circumstance. Like for instance, all together for picking up piece of the overall industry, an organization must make its rivals to lose their offers. One can't decline to do such a demonstration saying, that it is ethically off-base and surrendering to their feelings. Another model would be expanding the estimation of a drawn out investor may require giving up of momentary benefits, for example, rewards or financial awards to a companys workers or even the business himself. In any case, in the long haul, there would be substantially more benefits and financial compensations to share. Ultimately, I fe el that the utilitarian methodology is the best as an utilitarian is considerably more adaptable in reacting to various circumstances. An utilitarian just has two outlooks differing from present moment to long haul objectives or money related to non

Paterson

Paterson Paterson, city (1990 pop. 140,891), seat of Passaic co., NE N.J., at the falls of the Passaic River; inc. 1851. Founded in 1791 by Alexander Hamilton and others of the Society for Establishing Useful Manufactures, Paterson was a planned attempt to promote industrial independence in the newly formed United States by harnessing the water power of the falls. In 1792 and 1794 cotton-spinning mills were established. In 1835, Samuel Colt began the manufacture of the Colt revolver. Shortly thereafter the silk industry was established, beginning a silk boom which would earn Paterson the appellation Silk City of the World. The iron industry, which initially supplied Paterson with textile machinery, was producing locomotives in great numbers by 1880. After World War I, the aeronautics industry moved to Paterson. Although the silk industry is gone, textiles and transportation equipment are still made, and there is an apparel industry. Other industries produce electronic equipment, paper and food products, fabricated metals, rubber, and plastics; data-processing services also are important. During the first half of the 20th cent., notably in 1912â€"13, 1933, and 1936, many bitter strikes arose from bad labor conditions in the silk industry. The city has gradually become an ethnic center, with significant black and Hispanic populations. High unemployment rates marked Paterson in the late 20th and early 21st cent. Of special interest is the historic district that centers around the roaring Great Falls of the river. Designated a national historical park in 2009, it is a unique display of industrial history, with old cobblestone streets and stone bridges; the abandoned houses of workmen and mill owners; and industrial works that include several locomotive factories (one dating back to 1830), the Colt gun factory (1835), and historic spinning mills and waterworks. The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved. See more Encyclopedia articles on: U.S. Political Geography

The Effects Of Ptsd And Cultural Factors On Domestic Violence

Introduction The topic of my research design is the exploration between PTSD and cultural factors relating to domestic violence later on in life. Starting with my observations, firstly being how exposure of domestic abuse or lived environments when young make women more prone to PTSD and it’s side effects as an adult. My observation questions whether or not past experiences has any impact on how domestic violence will be handled or inflicted when these women are adults. It is my belief that PTSD and where someone comes from will lead women to be more prone to domestic violence when they are older. Firstly PTSD can lead to the women being less likely to go out and look for help and secondly if a young child is conditioned by cultural backgrounds that abuse is okay they will be less willing to stop the abuse or look for help. The variable that will be researched will be the effects of PTSD as a child and the impact that it has on relationships later on in life with the unit of analysis being the women. The articles I chose talk about effects of PTSD as a child and the effects of cultural conditioning as a child. The first article is, â€Å"Attachment Security and Parental Perception of Competency Among Abused Women in the Shadow of PTSD and Childhood Exposure to Domestic Violence† by Amiya Waldman-Levi, Ricky Finzi-Dottan and Naomi Weintraub. The second article is, â€Å"Strength Trapped Within Weakness/Weakness Trapped Within Strength: The Influence of Family of Origin Experiences onShow MoreRelatedThe Correlation Between Domestic Violence And Post Traumatic Stress Disorder1182 Words   |  5 PagesThe Correlation Between Domestic Violence and Post-Traumatic Stress Disorder Domestic violence is a horrific circumstance that is an ongoing issue to the public health of the world. Affecting the lives of millions annually by psychologically crippling the minds of the affected through chronic exposure to abuse. According to the National Coalition Against Domestic Violence (2014), 1.3 million women are subjected to this devastating situation. â€Å"No such global estimate was applicable for men† (TrevillionRead MoreMy Interest Of Study Society1154 Words   |  5 Pagesare, in order to learn how to deal with them. Domestic Violence can be view—using Mill’s conceptual vocabulary introduced in his article, as both a personal trouble and a public issue. Individuals make daily choices every day, but their choices are inhibited by their social, historical, cultural, political, and economic factors. These individuals frequently do not even realize the extent to which their lives are affected by those external factors and outside of their control (Mills, 1959). TheirRead MoreThe Effects Of Violence On Family Violence1319 Words   |  6 Pagesthe safest and most secure. Unlike other forms of relationships the bonds between family members already exists though it could be easily impacted and broken. When looking at violence in families one wonders that, what could possibly cause violence to occur amongst the most secure relationships such as family? Family violence is any type of abuse whether it is in a form of physical or emotional abuse. It could be a simple mistreatment of neglect t hat is experienced by someone within a secure relationshipRead MoreIntroduction. This Paper Describes The Headline Findings1409 Words   |  6 PagesINTRODUCTION This paper describes the headline findings from Crime Survey for England and Wales (CSEW) on the extent of, and trends in, domestic abuse among the black women in the United Kingdom aged 18 to 45, who are the resident in households of England and Wales. Domestic abuse includes a number of various forms of physical as well as non-physical abuse consisting of partner and family abuse, sexual assault and stalking. The abuse can be either of the victim-offender relationship or of the abuseRead MoreA Shocking Study On Childhood Traumatic Experiences892 Words   |  4 Pages543). Although, children make up a large portion of the population, their voices often go unheard due to familial/cultural acceptance, a lack of societal education on the matter, and the inability of the victims to speak about their trauma. In 2013, a study conducted by Diehle, de Roos, Boer, Lindauer, (2013) with Dutch children, observed that sexual abuse (11.6%) and domestic violence (8.3%) were the most persistentl y recorded recurrent traumatic events (p. 2). These statistics are only accountableRead MoreViolence Against Women Is A Women’S Health Issue Stemming1465 Words   |  6 PagesViolence against women is a women’s health issue stemming from the cultural acceptance of the power dynamic between men and women. Specifically, men are socialized to be more powerful, commanding and assert themselves in the public sphere. While females are socialized to be more docile, reserved, obedient and to consume as little space as possible – both physically and figuratively. This mindset is something that adversely affects the health of women, taking away her autonomy, and subverting herRead MoreDefinition Of Violence Against Women Essay1372 Words   |  6 PagesThe United Nations defines violence against women as any act of gender-based violence that results in, or is likely to result in, physical, sexual or mental harm or suffering to women, including threats of such acts, coerc ion or arbitrary deprivation of liberty, whether occurring in public or in private life (WHO Fact Sheet, 2016, para. 1).† There are many terms used to describe violence. The term domestic violence usually refers to interpersonal violence in a domestic setting such as family orRead MoreIntimate Partner Violence Essay1795 Words   |  8 PagesIntimate partner violence (IPV) is a type of abuse that occurs between people who are involved in a close relationship. â€Å"Intimate partner† is a term that is used to include both current and former spouses as well as dating partners. IPV exists along a continuum that ranges from a single episode of violence through ongoing battering. Incidents of IPV are known to include four basic types of behavior, including: Physical abuse, which is when a person either hurts or attempts to hurt their partnerRead MorePrescription Drug Use And Drug Abuse1691 Words   |  7 Pagesongoing problem in rural teens. The National Survey on Drug Use and Health suggests that 13% of teens between the ages of 12-17 have experimented with nonmedical prescription drugs at some point in their lives. Researchers have identified several factors linked with nonmedical prescription drug use such as their school enrollment status, history of depression, and a two parent household presence (Gever, 2010). Nonmedical prescription drug abuse has been the rise, in small towns such as in West VirginiaRead MoreSocial Justice Or Injustice : Domestic Violence1489 Words   |  6 PagesSocial Justice or Injustice Domestic violence (DV) has and continues to affect millions of, women, men, children and the elderly every day. National Coalition Against Domestic Violence, defines Domestic violence as, â€Å"hurtful, repeated and intentional behavior that one person uses to maintain power and control over another in an intimate relationship.† (National Coalition Against Domestic Violence, n.d.) Abuse impacts many individuals from various backgrounds. Abuse comes in many forms, verbal, emotional

Capital Punishment Is The Lawful Infliction Of Punishment

Capital punishment is the lawful infliction of punishment by death that has been practiced since ancient times. It has been over 30 years since the U.S. Supreme Court reinstated the death penalty, but it still continues to be a very controversial debate among many. Now that the death penalty has been reinstated the focus is on reforming its procedures. These procedures have been narrowed down to having lists of crimes eligible for the death penalty and providing guidance to jurors. History Capital punishments origins can seen as far as the Code of Hammurabi. It was classified according to the victim’s and perpetrator’s class or group. The Code of Hammurabi had a list of 23 crimes that would warren the death penalty. It can be given for theft in temple or palace or when a runaway slave is given refuge. When European settlers came to the new world they brought the practice of capital punishment. This type of punishment was heavily influenced among the colonies. Death penalty laws varied from colony to colony. Treason, murder, rape, arson, and counterfeiting were all considered capital crimes. The death penalty was understood as something that had to be seen in order to have its maximum effect. One common way of directing the terror of capital punishment to possible criminals was to have an execution as close as possible to where the crime was committed. Capital punishment was expected to prevent prospective criminals and it prevented existing crimina ls fromShow MoreRelatedIs the he lawful infliction of death as a punishment the death penalty. Capital punishment1000 Words   |  4 PagesIs the he lawful infliction of death as a punishment; the death penalty. Capital punishment continues to be used in several countries despite controversy over its merits and over its effectiveness as a deterrent to serious crime. A sentence of death may be carried out by one of many means, through electrocution, hanging, lethal injection, gas chamber, and firing squad. The debate as to whether capital punishment is right or not is an emotive one. Some people say it is necessary in some circumstancesRead MoreEssay on Capital Punishment863 Words   |  4 PagesCapital Punishment Capital punishment is the lawful infliction of the death penalty, and since ancient times, it has been used to punish a large variety of offenses. The penalty of death is reserved for the most serious and detested crimes. The legal system must sentence the death penalty to capital crime offenders. Criminals convicted of murder or rape need to be executed because they are dangerous to the world and the human race. However, America seems to to always want to put people in prisonRead More Speech In Favor Capital Punishment1282 Words   |  6 PagesSpeech In Favour Of Capital Punishment Capital Punishment is the lawful infliction of death and has been used in Britain since the 5the century. It was not until 1964 that capital punishment was abolished and this has been described by many historians as Britains worst decision in over 500 years. Along with these Historians, I also believe that our country was much better off with the death penalty as a punishment for sick and twisted people, murderers, rapists and peadophiles. Did youRead MoreCapital Punishment : The Death Penalty975 Words   |  4 PagesACCEPTABILITY OF CAPITAL PUNISHMENT INTRODUCTION Capital punishment also known as the death penalty refers to the lawful infliction of death as a punishment. The first case of death penalty laws was first established in the Eighteenth Century B.C. Capital punishment is still used in the United States despite the controversy surrounding the law. Death penalty is done by either fastening the criminal to an electric chair, hanging or a firing squad shooting at the criminal. In Atkins v. Virginia theRead MoreArguments for Capital Punishment852 Words   |  3 PagesCapital punishment is the death penalty .Capital Punishment is the lawful infliction of death as a punishment and since ancient times it has been used for a wide variety of offences. As real justice requires people to suffer for their wrong doing, and to suffer in a way appropriate for the crime. Each criminal should get what their crime deserves and in the ease of a murderer what their crime deserves is death. Capital punishment permanently removes the worst criminals from society and should proveRead MoreEssay on Capital Punishment in the United States 598 Words   |  3 PagesAre serial criminals effectively being punished? Indeed much improvement must be done. The death penalty needs to be legal in every state. Capital punishment is the lawful infliction of death as a punishment and has been used in America since 1608. The death penalty has been mainly aimed at murder and rape perpetrator s. For the past two hundred years with over 15,600 executions since 1608, most executions were completed though hangings; however, beginning in the 1900s new forms of execution developedRead MoreTaking a Look at Capital Punishment1080 Words   |  4 Pages Since 1608, legal systems have used capital punishment as justice. â€Å"As of November 2014, 32 states have the death penalty. There have been a total of 1348 executions from January 1977 to the end of 2014† (capitalpunishmentuk). The capital punishment only affects those who sentenced in the crime of rape or murder. The most popular death method is lethal injection. There are other options such as â€Å"electrocution, hanging, shooting, and the gas chamber† (capitalpunishmentuk) but theses alternativeRead MoreEssay on Reinstating Capital Punishment in Britain912 Words   |  4 PagesReinstating Capital Punishment in Britain Capital Punishment is the legal infliction of death as a penalty for violating criminal law. Throughout history people have been put to death for various forms of wrongdoing. Methods of execution have included such practices as crucifixion, stoning, drowning, burning at the stake, impaling, and beheading. Today capital punishment is typically accomplished by lethal gas or injection, electrocution, hanging, or shooting. The deathRead MoreThe Death Penalty Essay examples859 Words   |  4 PagesPenalty in America†, capital punishment is the lawful infliction of the death penalty. The death penalty has been used since ancient times for a variety of offenses. The Bible says that death should be done to anyone who commits murder, larceny, rapes, and burglary. It appears that public debate on the death penalty has changed over the years and is still changing, but there are still some out there who are for the death penalty and will continue to believe that it’s a good punishment. I always hear aRead MoreThe Death Penalty Has Always Been One Of The Most Hotly1204 Words   |  5 Pagesthere needs to be a definition of what capital punishment and the death penalty is. According to Hugo Bedau, capital punishment is the lawful infliction of the death penalty. The United States use the forms of hanging, electrocution, firing squad, lethal injection, and the gas chamber . Although, some are used much more than others. Furthermore, I am not sure why, but it seems it as if the government is being hypocritical in some ways, stating â€Å"Capital punishment is allowable because after all the criminal

Merger and Acquisition Free Essays

In recent years human resource (HR) managers have been encouraged to play a more strategic role in their organizations, especially in the case of extensive organizational change processes such as international  mergers  and  acquisitions  (IMAs). Today this requirement is even more acute since the past decade has been characterized by enormous growth in IMAs. In addition, it has been argued that the challenge in making MAs work is the management of people. We will write a custom essay sample on Merger and Acquisition or any similar topic only for you Order Now In a case of IMAs the role of  HR  managers is very demanding because they needs to integrate  HRpractices and, moreover, perform two other roles simultaneously: a strategic role for company-wide integration and a support role for business unit transaction. Considering the importance of human resource management (HRM) in IMAs, it is surprising how little is known about the role and activities of  HR  managers in these processes. This study addresses the existing research gap by investigating the role of  HR  managers in the IMA process. Based on semi-structured theme interviews among corporate level managers in three Finnish international industrial organizations, the roles of corporate  HR  managers at different stages of the IMA process are analysed. This study applies Ulrich’s (1997) theory of the four  HR  roles in combination with the  HR  issues which are present at the different stages of the IM process. This paper demonstrates that HRM is an essential part of M and that  HR  issues are given a lot of emphasis throughout the process. In addition,  HR  managers play an important role in the IM process, although it is not self-evident in every case. Once a business has decided to merge with another company, one of the most important tasks is the combination of the two workforces into one. This task is primarily carried out by Human Resources (HR), and it is a critical and ongoing process that supports the entire merger or acquisition. HR must lead decision processes, prepare the company for integration and execute the actual reorganization. Throughout the process, they should also focus on building relationships with the new company. What about M tools? In today’s mergers and acquisitions, an  org chart  is a requirement as it will make the process of workforce planning easier and quicker. A good  software solution  can help management combine workforces by using visualization and workforce organizational tools. Management can then set new budgets and organize the structure to best meet the new organization’s objectives. Centralizing the data and personnel files helps in the allocation of resources, mapping out of the future company layout, and ‘what if’ analysis for possible reductions in force or promotions. The role of HR during mergers and acquisitions can be separated into three phases: Pre-deal ? Analyze hierarchies and reporting relationships ? Identify key personnel ? Generate headcounts by department ? Roll up total workforce cost ? Audit the workforce for diversity and other characteristics ? Assess government compliance issues Integration planning ? Model the workforce to determine optimal structure ? Conduct â€Å"what if† scenario planning to visualize merger integration ? Collaborate with department managers to plan resources and structures ? Identify duplicate roles and plan necessary reductions Plan optimal management and reporting hierarchies ? Determine pay structure and reward systems ? Determine retirement and benefits structure ? Align workforce costs with departmental budgets ? Determine HR technology Integration implementation and communication ? Consolidate workforce data into a centralized organizational chart ? Share the integration roadmap with management ? Provide managers with adjusted Spans of Control and budgets ? Publish a view of the new organization to all employees ? Produce documentation of the merger process for auditors ? Capture a history of organizational changes as planning progresses ? Communicate changes in compensation, benefits and reward systems Post-merger workforce management and optimization ? Merge workforce data into a single system of record ? Ensure the successful assimilation of corporate cultures ? Align resources with corporate initiatives and business goals ? Refine business processes and workflow to reduce operational expenses ? Communicate performance management, talent acquisition and succession planning data. ? Present the unified workforce via a globally accessible, secure, intelligent organizational charting system An increasingly important critical success factor in M is the ability to identify the organization that is not only the most strategic play but also the best organizational fit. Organizations with senior HR leadership are able to analyze the human capital factors during the due diligence process – often leading to better decisions ROLE OF HR DEPARTMENT AND HR PROFESSIONALS IN M HR department plays an important role during a merger. The success or failure of a merger or acquisition deal depends upon to a large extent on the involvement of HR professionals. Many mergers fail to achieve their objectives because HR professionals are either not involved or are involved at a very late stage in the merger process. To ensure a successful merger, the HR department of the concerned companies should undertake the following activities: Formulating strategy- all companies should formulate a strategy before starting the process of a merger or acquisition. HR departments should be involved in formulating the strategy. Creating teams- HR department should form teams including members from both the companies. The team members should be trained to develop various types of skills. Creating structure- HR department should create a new organizational structure in line with the merged entity’s new strategy. Developing a communication plan- HR department should prepare a communication plan so that information is collected and delivered to the right people at the right time. Creating a transition system- HR department should also prepare a blueprint of the new HR systems, like compensation and performance appraisal system to avoid confusion after the merger. In HR there are two phases †¢ Pre-acquisition Post acquisition period. In pre-acquisition phase things which needs to be taken care of: an assessment of the cultural and organizational differences, which will include the organizational cultures, role of leaders in the organization, life cycle of the organization, and the management styles. In post acquisition phase: power equation between management and trade unions needs to be d ealt with utmost care. These are the issues which are very brittle. Designations for the employees’ compensation structure and performance appraisal systems BEST PRACTICES FOLLOWED BY HR DURING MA: Train managers on the nature of change †¢ Technical retraining †¢ Family assistance programs †¢ Stress reduction program †¢ Meeting between the counter parts †¢ Orientation programs †¢ Explaining new roles †¢ Helping people who lost jobs †¢ Post merger team building †¢ Anonymous feedback helpline for employees CULTURE COMPATIBILITY: An important issue in MA By understanding the similarities and differences between the two companies early in the game, it is possible to avoid a divorce before the marriage vows are taken. Should incompatibility be too great, it may even be wise to call off the wedding. It’s important to identify cultural areas of dissonance so that people can dispel misconceptions and begin creating a culture that’s right for the new organization. That’s often left until after the final papers are signed, which is risky because culture mismatches can be the Achilles’ heel of many deals. How do we identify cultural differences and similarities and learn to leverage them? Often, the most seemingly inconsequential programs and policies have great symbolic impact. Practices regarding casual dress, attitudes about long hours, and how offices are apportioned are deeply ingrained and must be dealt with. One can’t consider culture compatibility without touching on the different views that the acquirer and the acquired have about the new company. The acquirer assumes that the new company will closely resemble the original but with greater mass and capabilities. The acquired company expects that many of its strengths will be crucial to the new company (after all, isn’t that why it was acquired? ). Human capital development role of human resource (HR) during mergers and acquisitions Selden and Colvin (2003) stated that 70 – 80% of acquisitions fail, meaning that they create no wealth for the share owners of the acquiring company. Successfully integrating the target and the acquirer’s businesses after the transaction closes is critical to achieving the goal of the combination, which is, making the new entity worth more than the sum of its parts. One of the ways to accomplish this is to effectively implement the required changes and address the related dynamics occurring in the new entity. Most mergers and acquisitions deals fail to accomplish many of the strategic objectives so optimistically projected in the initial announcements. Schmidt (2003) has identified five major roadblocks to merger and acquisition (M A) success, the last three of which are HR issues: Inability to sustain financial performance (64%), loss of productivity (62%), incompatible cultures (56%), loss of key talent (53%) and clash of management styles (53%). According to Marks (1997), human resource professionals should take an active role in educating senior executives about HR issues that can interfere with the success of the merger and with meeting key business objectives. His work has stated the important role of HCD to smoothen the transition. The following ways have been described by him: Education of managers and employees To help employees and managers manage stress, low morale and productivity issues in work groups, educational seminars should be developed and delivered to minimize stress and uncertainty in the organisation during the merger process. These seminars should focus on specific issues which affect employees rather than on general change management HR Problems in Mergers and Acquisitions McCann and Gilkey (1988) have developed a seven-step model of the merger process that provides a useful framework for considering the difficult human resource problems that may arise in any merger or acquisition. The first five steps occur in the pre-merger stage and the last two in the postmerger stage. The Pre-Merger Stage Strategic Planning and Organization The first step is strategic planning in which the acquiring firm develops its mission statement and determines the type of merger or acquisition that will be sought and how it will achieve corporate objectives. In the next stage the firm is primarily concerned with organization—creating a specific team to manage the MA activity. In their eight-year study of mergers and acquisitions, Marks and Cutcliffe (1988) found that corporate executives generally failed to integrate human resource aspects into the merger process, perhaps because they were not familiar with the appropriate methods of managing the change in their organizations or because they did not realize that the merger might have a significant negative effect on their employees. Consequently, financial and legal concerns dominated the pre-merger stage, and human resource managers, who could have provided advice on managing the human side of the transaction, were -seldom included in the core planning group. Similarly, Bohl’s (1989) survey of 109 companies with active MA programs found that the human A better understanding of human resource issues in the integration stage of MAs could help them s u c c e e d. esource function had not played an important role in the pre-merger planning in about two-thirds of companies reporting post-event problems, while the same was true in only about half of those reporting no problems (34). With such results in mind Fombrun, Tichy, and Devanna (1984) stress the need to include human resource managers in the core strategic team. Because ‘people problems’ are a primary source of poor MA performance, including HR managers early in the decision-making process is an important part of any MA strategy (Marks and Mirvis 1986; Marks and Cutcliffe 1988; Tichy and Ulrich 1984). Searching Searching for potential acquisitions and thoroughly investigating the merits of each is the third step of the merger process. Of particular relevance to HR are the results of Schweiger and Weber (1989) who found in a survey of 80 firms that the most important factors in evaluating potential acquisitions were the talent and management philosophy of the acquired top managers and the talent of the acquired middle managers. Similarly, McCann and Gilkey (1988) and Walsh (1989) note that most MA’s are undertaken partly to capture the valuable asset of a qualified management team. The retention of management thus becomes a key factor in the success of a merger or acquisition. Analysis and Offer The fourth stage of the merger process is analysis and offer, in which a primary objective is to evaluate the ‘fit’ of the two firms. McCann and Gilkey (1988) identity three types of fit—financial, business, and organizational fit—that must all be present if the merger or acquisition is to be successful. For the purposes of this study, organizational fit, which includes human resources and the two organizational cultures, is of primary importance, since it helps to determine how well the two firms can be integrated. McCann and Gilkey suggest that ‘the greater the differences between the two firms in these areas, the greater the difficulty in achieving the desired level of integration and in realizing business synergies which will ultimately show up in financial performance’ (58-9). The Post-Merger Transition The last two stages in a merger or acquisition are the transition and integration. These two stages are the most complicated and are surrounded by the highest level of uncertainty. The transition stage is in fact the most poorly managed of all, and consequently it is the stage where most failures occur (McCann and Gilkey 1988). A Delicate Balance Management of the transition stage requires a delicate balance between providing a stabilizing influence and creating a climate for change. Uncertainty and anxiety, anger, frustration, psychological withdrawal and family disruptions are pervasive during MA activity (Schweiger, Ivancevich, and Power 1987). Those who voluntarily leave their company indicate that uncertainty leads them to do so early in the acquisition process (130). The importance of transition management is further emphasized by Beatty (1990) which shows that negative employee reactions and behaviours are more common in failed acquisitions than in successes Insecurity and Anxiety Negative employee feelings and behaviour are typical responses to threatening situations (Dyer 1983)—in this case, job insecurity. The magnitude of the response will be determined by the employee’s perception of the severity of the threat and the degree of powerlessness to counteract it, which will in turn be a function of his or her confusion concerning the expectations of the new firm. For example, if employees are unaware of how they will be evaluated for the retention decision, feelings of powerlessness will be Transition and integration are the most c o m p l i c a t e d and are surrounded bythe highest level of uncertainty. high. Since information is generally scarce in the transition stage, the employee’s perceptions will be influenced predominately by rumour and speculation. Greenhalgh and Jick (1979) found a positive correlation between job insecurity and resistance to change (see also Staw, Sandelands, and Dutton (1981)). Individuals faced with a threatening situation exhibit strong attachment to previously learned behaviours, even if they are inappropriate. Since the transition stage in the merger process is supposed to facilitate change, high levels of uncertainty are clearly counterproductive. Unanticipated Turnover The predominance of negative attitudes caused by uncertainty often leads employees to act on the worst scenario and begin updating resumes (Greenhalgh and Jick 1975). The most valuable employees— those that the post-merger corporation can least afford to lose—tend to be the first to leave the organization. For example, when Fluor Corporation acquired St. Joe Mineral in 1981, in a deal costing $2. 2 billion, the large-scale migration of key managers following the acquisition contributed to millions of dollars in losses at the previously profitable St. Joe (Shrivastava 1986). Estimates of unanticipated turnover suggests that 47 percent of top executives in an acquired firm leave within the first year and 75 percent within three years. Within five years 58 percent of all managers leave (Walsh 1989, 313), and it is often the managers with the best performance histories who leave early on (Walsh and Ellwood 1991, 215). If there is no planned intervention strategy to deal with negative feelings and behaviours, the long-term behaviour of employees who do remain with the organization may be affected, significantly reducing the likelihood of a successful post-merger integration (Marks and Cutcliffe 1988). ‘More than any other issue, how you handle employees in the first three to six months will set thetone for future relations between the two firms’ (McCann and Gilkey 1988, 65). HR Interventions Several authors have suggested how to reduce the incidence of counterproductive behaviours (Bridges 1988; DeNoble, Gustafson, and Hergert 1988; Marks and Cutcliffe 1988). Preliminary interventions target emotional support, and may begin while negotiations are still underway. Activities in this phase are focused on providing stability. Other techniques are intended to create apositive environment for change by decreasing the level of uncertainty and fostering realistic expectations for the future. Feelings of powerlessness on the part of employees are reduced by providing information to determine how (or if) the threat to job security can be counteracted. Commitment to the new organization may be fostered if the employees are encouraged to see that career opportunities are available and continued success is possible in the new organization CONCLUSION Merger and Acquisitions success entirely depends on the people who drive the Business, their ability to Execute, Creativity, and Innovation. It is of utmost importance to involve HR Professionals in Mergers and Acquisitions discussions as it has an impact on key people issues. As Mergers and Acquisitions activity continues to step up globally, Companies involved in these transactions have the opportunity to adopt a different approach including the increased involvement of HR professionals. By doing so they will achieve a much better outcome and increase the chance that the overall deal is a total success. HR professionals can play an active role in the change process by offering interventions that will help ensure a successful merger. How to cite Merger and Acquisition, Essay examples Merger and Acquisition Free Essays In recent years human resource (HR) managers have been encouraged to play a more strategic role in their organizations, especially in the case of extensive organizational change processes such as international  mergers  and  acquisitions  (IMAs). Today this requirement is even more acute since the past decade has been characterized by enormous growth in IMAs. In addition, it has been argued that the challenge in making MAs work is the management of people. We will write a custom essay sample on Merger and Acquisition or any similar topic only for you Order Now In a case of IMAs the role of  HR  managers is very demanding because they needs to integrate  HRpractices and, moreover, perform two other roles simultaneously: a strategic role for company-wide integration and a support role for business unit transaction. Considering the importance of human resource management (HRM) in IMAs, it is surprising how little is known about the role and activities of  HR  managers in these processes. This study addresses the existing research gap by investigating the role of  HR  managers in the IMA process. Based on semi-structured theme interviews among corporate level managers in three Finnish international industrial organizations, the roles of corporate  HR  managers at different stages of the IMA process are analysed. This study applies Ulrich’s (1997) theory of the four  HR  roles in combination with the  HR  issues which are present at the different stages of the IM process. This paper demonstrates that HRM is an essential part of M and that  HR  issues are given a lot of emphasis throughout the process. In addition,  HR  managers play an important role in the IM process, although it is not self-evident in every case. Once a business has decided to merge with another company, one of the most important tasks is the combination of the two workforces into one. This task is primarily carried out by Human Resources (HR), and it is a critical and ongoing process that supports the entire merger or acquisition. HR must lead decision processes, prepare the company for integration and execute the actual reorganization. Throughout the process, they should also focus on building relationships with the new company. What about M tools? In today’s mergers and acquisitions, an  org chart  is a requirement as it will make the process of workforce planning easier and quicker. A good  software solution  can help management combine workforces by using visualization and workforce organizational tools. Management can then set new budgets and organize the structure to best meet the new organization’s objectives. Centralizing the data and personnel files helps in the allocation of resources, mapping out of the future company layout, and ‘what if’ analysis for possible reductions in force or promotions. The role of HR during mergers and acquisitions can be separated into three phases: Pre-deal ? Analyze hierarchies and reporting relationships ? Identify key personnel ? Generate headcounts by department ? Roll up total workforce cost ? Audit the workforce for diversity and other characteristics ? Assess government compliance issues Integration planning ? Model the workforce to determine optimal structure ? Conduct â€Å"what if† scenario planning to visualize merger integration ? Collaborate with department managers to plan resources and structures ? Identify duplicate roles and plan necessary reductions Plan optimal management and reporting hierarchies ? Determine pay structure and reward systems ? Determine retirement and benefits structure ? Align workforce costs with departmental budgets ? Determine HR technology Integration implementation and communication ? Consolidate workforce data into a centralized organizational chart ? Share the integration roadmap with management ? Provide managers with adjusted Spans of Control and budgets ? Publish a view of the new organization to all employees ? Produce documentation of the merger process for auditors ? Capture a history of organizational changes as planning progresses ? Communicate changes in compensation, benefits and reward systems Post-merger workforce management and optimization ? Merge workforce data into a single system of record ? Ensure the successful assimilation of corporate cultures ? Align resources with corporate initiatives and business goals ? Refine business processes and workflow to reduce operational expenses ? Communicate performance management, talent acquisition and succession planning data. ? Present the unified workforce via a globally accessible, secure, intelligent organizational charting system An increasingly important critical success factor in M is the ability to identify the organization that is not only the most strategic play but also the best organizational fit. Organizations with senior HR leadership are able to analyze the human capital factors during the due diligence process – often leading to better decisions ROLE OF HR DEPARTMENT AND HR PROFESSIONALS IN M HR department plays an important role during a merger. The success or failure of a merger or acquisition deal depends upon to a large extent on the involvement of HR professionals. Many mergers fail to achieve their objectives because HR professionals are either not involved or are involved at a very late stage in the merger process. To ensure a successful merger, the HR department of the concerned companies should undertake the following activities: Formulating strategy- all companies should formulate a strategy before starting the process of a merger or acquisition. HR departments should be involved in formulating the strategy. Creating teams- HR department should form teams including members from both the companies. The team members should be trained to develop various types of skills. Creating structure- HR department should create a new organizational structure in line with the merged entity’s new strategy. Developing a communication plan- HR department should prepare a communication plan so that information is collected and delivered to the right people at the right time. Creating a transition system- HR department should also prepare a blueprint of the new HR systems, like compensation and performance appraisal system to avoid confusion after the merger. In HR there are two phases †¢ Pre-acquisition Post acquisition period. In pre-acquisition phase things which needs to be taken care of: an assessment of the cultural and organizational differences, which will include the organizational cultures, role of leaders in the organization, life cycle of the organization, and the management styles. In post acquisition phase: power equation between management and trade unions needs to be d ealt with utmost care. These are the issues which are very brittle. Designations for the employees’ compensation structure and performance appraisal systems BEST PRACTICES FOLLOWED BY HR DURING MA: Train managers on the nature of change †¢ Technical retraining †¢ Family assistance programs †¢ Stress reduction program †¢ Meeting between the counter parts †¢ Orientation programs †¢ Explaining new roles †¢ Helping people who lost jobs †¢ Post merger team building †¢ Anonymous feedback helpline for employees CULTURE COMPATIBILITY: An important issue in MA By understanding the similarities and differences between the two companies early in the game, it is possible to avoid a divorce before the marriage vows are taken. Should incompatibility be too great, it may even be wise to call off the wedding. It’s important to identify cultural areas of dissonance so that people can dispel misconceptions and begin creating a culture that’s right for the new organization. That’s often left until after the final papers are signed, which is risky because culture mismatches can be the Achilles’ heel of many deals. How do we identify cultural differences and similarities and learn to leverage them? Often, the most seemingly inconsequential programs and policies have great symbolic impact. Practices regarding casual dress, attitudes about long hours, and how offices are apportioned are deeply ingrained and must be dealt with. One can’t consider culture compatibility without touching on the different views that the acquirer and the acquired have about the new company. The acquirer assumes that the new company will closely resemble the original but with greater mass and capabilities. The acquired company expects that many of its strengths will be crucial to the new company (after all, isn’t that why it was acquired? ). Human capital development role of human resource (HR) during mergers and acquisitions Selden and Colvin (2003) stated that 70 – 80% of acquisitions fail, meaning that they create no wealth for the share owners of the acquiring company. Successfully integrating the target and the acquirer’s businesses after the transaction closes is critical to achieving the goal of the combination, which is, making the new entity worth more than the sum of its parts. One of the ways to accomplish this is to effectively implement the required changes and address the related dynamics occurring in the new entity. Most mergers and acquisitions deals fail to accomplish many of the strategic objectives so optimistically projected in the initial announcements. Schmidt (2003) has identified five major roadblocks to merger and acquisition (M A) success, the last three of which are HR issues: Inability to sustain financial performance (64%), loss of productivity (62%), incompatible cultures (56%), loss of key talent (53%) and clash of management styles (53%). According to Marks (1997), human resource professionals should take an active role in educating senior executives about HR issues that can interfere with the success of the merger and with meeting key business objectives. His work has stated the important role of HCD to smoothen the transition. The following ways have been described by him: Education of managers and employees To help employees and managers manage stress, low morale and productivity issues in work groups, educational seminars should be developed and delivered to minimize stress and uncertainty in the organisation during the merger process. These seminars should focus on specific issues which affect employees rather than on general change management HR Problems in Mergers and Acquisitions McCann and Gilkey (1988) have developed a seven-step model of the merger process that provides a useful framework for considering the difficult human resource problems that may arise in any merger or acquisition. The first five steps occur in the pre-merger stage and the last two in the postmerger stage. The Pre-Merger Stage Strategic Planning and Organization The first step is strategic planning in which the acquiring firm develops its mission statement and determines the type of merger or acquisition that will be sought and how it will achieve corporate objectives. In the next stage the firm is primarily concerned with organization—creating a specific team to manage the MA activity. In their eight-year study of mergers and acquisitions, Marks and Cutcliffe (1988) found that corporate executives generally failed to integrate human resource aspects into the merger process, perhaps because they were not familiar with the appropriate methods of managing the change in their organizations or because they did not realize that the merger might have a significant negative effect on their employees. Consequently, financial and legal concerns dominated the pre-merger stage, and human resource managers, who could have provided advice on managing the human side of the transaction, were -seldom included in the core planning group. Similarly, Bohl’s (1989) survey of 109 companies with active MA programs found that the human A better understanding of human resource issues in the integration stage of MAs could help them s u c c e e d. esource function had not played an important role in the pre-merger planning in about two-thirds of companies reporting post-event problems, while the same was true in only about half of those reporting no problems (34). With such results in mind Fombrun, Tichy, and Devanna (1984) stress the need to include human resource managers in the core strategic team. Because ‘people problems’ are a primary source of poor MA performance, including HR managers early in the decision-making process is an important part of any MA strategy (Marks and Mirvis 1986; Marks and Cutcliffe 1988; Tichy and Ulrich 1984). Searching Searching for potential acquisitions and thoroughly investigating the merits of each is the third step of the merger process. Of particular relevance to HR are the results of Schweiger and Weber (1989) who found in a survey of 80 firms that the most important factors in evaluating potential acquisitions were the talent and management philosophy of the acquired top managers and the talent of the acquired middle managers. Similarly, McCann and Gilkey (1988) and Walsh (1989) note that most MA’s are undertaken partly to capture the valuable asset of a qualified management team. The retention of management thus becomes a key factor in the success of a merger or acquisition. Analysis and Offer The fourth stage of the merger process is analysis and offer, in which a primary objective is to evaluate the ‘fit’ of the two firms. McCann and Gilkey (1988) identity three types of fit—financial, business, and organizational fit—that must all be present if the merger or acquisition is to be successful. For the purposes of this study, organizational fit, which includes human resources and the two organizational cultures, is of primary importance, since it helps to determine how well the two firms can be integrated. McCann and Gilkey suggest that ‘the greater the differences between the two firms in these areas, the greater the difficulty in achieving the desired level of integration and in realizing business synergies which will ultimately show up in financial performance’ (58-9). The Post-Merger Transition The last two stages in a merger or acquisition are the transition and integration. These two stages are the most complicated and are surrounded by the highest level of uncertainty. The transition stage is in fact the most poorly managed of all, and consequently it is the stage where most failures occur (McCann and Gilkey 1988). A Delicate Balance Management of the transition stage requires a delicate balance between providing a stabilizing influence and creating a climate for change. Uncertainty and anxiety, anger, frustration, psychological withdrawal and family disruptions are pervasive during MA activity (Schweiger, Ivancevich, and Power 1987). Those who voluntarily leave their company indicate that uncertainty leads them to do so early in the acquisition process (130). The importance of transition management is further emphasized by Beatty (1990) which shows that negative employee reactions and behaviours are more common in failed acquisitions than in successes Insecurity and Anxiety Negative employee feelings and behaviour are typical responses to threatening situations (Dyer 1983)—in this case, job insecurity. The magnitude of the response will be determined by the employee’s perception of the severity of the threat and the degree of powerlessness to counteract it, which will in turn be a function of his or her confusion concerning the expectations of the new firm. For example, if employees are unaware of how they will be evaluated for the retention decision, feelings of powerlessness will be Transition and integration are the most c o m p l i c a t e d and are surrounded bythe highest level of uncertainty. high. Since information is generally scarce in the transition stage, the employee’s perceptions will be influenced predominately by rumour and speculation. Greenhalgh and Jick (1979) found a positive correlation between job insecurity and resistance to change (see also Staw, Sandelands, and Dutton (1981)). Individuals faced with a threatening situation exhibit strong attachment to previously learned behaviours, even if they are inappropriate. Since the transition stage in the merger process is supposed to facilitate change, high levels of uncertainty are clearly counterproductive. Unanticipated Turnover The predominance of negative attitudes caused by uncertainty often leads employees to act on the worst scenario and begin updating resumes (Greenhalgh and Jick 1975). The most valuable employees— those that the post-merger corporation can least afford to lose—tend to be the first to leave the organization. For example, when Fluor Corporation acquired St. Joe Mineral in 1981, in a deal costing $2. 2 billion, the large-scale migration of key managers following the acquisition contributed to millions of dollars in losses at the previously profitable St. Joe (Shrivastava 1986). Estimates of unanticipated turnover suggests that 47 percent of top executives in an acquired firm leave within the first year and 75 percent within three years. Within five years 58 percent of all managers leave (Walsh 1989, 313), and it is often the managers with the best performance histories who leave early on (Walsh and Ellwood 1991, 215). If there is no planned intervention strategy to deal with negative feelings and behaviours, the long-term behaviour of employees who do remain with the organization may be affected, significantly reducing the likelihood of a successful post-merger integration (Marks and Cutcliffe 1988). ‘More than any other issue, how you handle employees in the first three to six months will set thetone for future relations between the two firms’ (McCann and Gilkey 1988, 65). HR Interventions Several authors have suggested how to reduce the incidence of counterproductive behaviours (Bridges 1988; DeNoble, Gustafson, and Hergert 1988; Marks and Cutcliffe 1988). Preliminary interventions target emotional support, and may begin while negotiations are still underway. Activities in this phase are focused on providing stability. Other techniques are intended to create apositive environment for change by decreasing the level of uncertainty and fostering realistic expectations for the future. Feelings of powerlessness on the part of employees are reduced by providing information to determine how (or if) the threat to job security can be counteracted. Commitment to the new organization may be fostered if the employees are encouraged to see that career opportunities are available and continued success is possible in the new organization CONCLUSION Merger and Acquisitions success entirely depends on the people who drive the Business, their ability to Execute, Creativity, and Innovation. It is of utmost importance to involve HR Professionals in Mergers and Acquisitions discussions as it has an impact on key people issues. As Mergers and Acquisitions activity continues to step up globally, Companies involved in these transactions have the opportunity to adopt a different approach including the increased involvement of HR professionals. By doing so they will achieve a much better outcome and increase the chance that the overall deal is a total success. HR professionals can play an active role in the change process by offering interventions that will help ensure a successful merger. How to cite Merger and Acquisition, Papers

Importance of open book assessments free essay sample

An open book examination is one in which examinees are allowed to consult their class notes, textbooks, and other approved material while answering questions. It is ideally suited to teaching programmes that especially aim at developing the skills of critical and creative thinking In order to appreciate the merits of open book examinations, it is first of all necessary to understand the nature of teaching programmes in general. Most conventional examinations test how much information the students have been able to store in their minds. In order to cope with this demand, students memorize the information in class notes and textbooks, and transfer it to answer books during the examination. In this type of examination, success depends on the quantity of information memorized, and the efficiency with which it is reproduced. Does this leads to creative thinking? Noooo This is where open book examinations come in. Open book examinations Provides a chance for students to acquire the knowledge during the preparation process of gathering suitable learning materials rather than simply recalling or rewriting it. We will write a custom essay sample on Importance of open book assessments or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page It Enhances information retrieval skills of students through finding the efficient ways to get the necessary information and data from books and various resources Also it enhances the comprehension and synthesizing skills of students because they need to reduce the content of books and other study materials into simple and handy notes for examination A more important reason for using open book examinations is that they have a tremendous impact on promoting the right mental sets in both learning and teaching. The most immediate result on students will be that they will stop mugging or rote learning. Most students used to conventional examinations think of studying as the mechanical memorization of information in textbooks and class notes in order to reproduce it in examinations. Open book examinations will effect a fundamental change in this attitude. If textbooks can be consulted in the examination rooms, why bother to memorize them? Does this mean that students dont need to study for examinations? No. It implies that studying should not be equated with memorizing; instead, it should be of understanding concepts, and using these concepts (along with available information) to practice the skills of modifying and building knowledge, thinking critically, and solving problems. In acquiring the right strategies of studying, nothing is as effective as the shocking realization that mugging is of no use in the examinations. Given open book examinations, there will be no more mugging. Once the burden of mugging is taken away, education can be a pleasurable activity, not a painful drudgery. What is learnt with pleasure is learnt more effectively, and retained better.

Taxation Essay Example For Students

Taxation Essay The accelerating growth in global trade has occasioned the creation of new types of cooperative enterprises. For example, companies routinely form joint ventures or other partnership arrangements to engage in isolated projects or systematically to conduct business. Various forms of limited liability companies are also business and investment vehicles in the global arena. The application of treaties to these companies and vehicles gives rise to problems because tax treaties do not deal with attribution of income they only allocate items of income between the two treaty countries. To the extent a treaty allocates income to the residence country of the company or individual earning or receiving the income, the determination to whom this income is taxed (that is, which company or individual is considered to earn or receive the income), is made under the domestic law rules of each of the treaty states. If these rules differ in their application in a given case, conflicting attribution wi ll result. 3 These treaty application problems have always existed but have been exacerbated in recent years by the growth of elective entity classification in some countries. For example, under U.S. law an entity, whether foreign or domestic, in many cases is free to choose whether it will be treated as transparent or nontransparent for U.S. tax purposes. /1/ Consequently, an entity may be treated as transparent for U.S. tax purposes and as nontransparent for foreign tax purposes, or vice versa. Also, without such elective classification, inconsistencies result from different domestic entity classification rules. For purposes of discussion, an entity that is treated as transparent for tax purposes in one jurisdiction and as nontransparent in another is referred to as a hybrid entity. /2/ When there is no classification conflict, a transparent entity may be referred to as a partnership for purposes of discussion. 4 The problems resulting from a characterization difference between th e two (and perhaps three) countries involved are threefold. In the first place, if the entity and the persons participating in the entity (participants) are residents of different countries, it is possible that each of the two countries taxes the income to its resident(s), typically without any relief for the tax imposed by the other country (except perhaps to the extent it was sourced in the other country). Second, if the source country taxes the income to the participants, but the residence country of the entity and of the participants taxes the income to the entity (or vice versa), the individual income tax rate applied may be substantially higher than the corporate tax rate to which the entity is subject with respect to the income in its country of residence (again, or vice versa). Third, particularly if the residence country of the recipient of the income relieves double taxation through a foreign tax credit, if the source country taxes the entity for the income, and the reside nce country of the participants taxes these participants, the latter country may not grant double taxation relief because the foreign tax was not imposed on the participant but on the entity. I. Article 4(1)(d) of 1996 U.S. Model and IRC Section894(c) Regulations 5 While the current OECD model tax treaty does not contain provisions to deal effectively with these issues, the 1996 U.S. model provides a solution, at least to the first of the issues mentioned above. This solution is provided through an addition to the OECD definition in article 4 of the term resident. With respect to the residence of partnerships and partners, article 4(1)(d) of the 1996 U.S. model income tax treaty provides as follows: An item of income, profit or gain derived through an entity thatis fiscally transparent under the laws of either ContractingState shall be considered to be derived by a resident of a Stateto the extent that the item is treated for purposes of thetaxation law of such Contracting State as the income, profit orgain of a resident. 6 This provision is not easily understandable. It does not matter under the law of which of the two treaty states the entity that receives the income is organized, or whether it is organized under the law of a third state. The only thing that matters is that if one of the two treaty states considers the receiving entity to be transparent, the treaty applies if the income under consideration is taxed to a resident of either state (that resident being the entity itself or the participants in that entity). 7 The formulation accommodates a series of different structures. For example, if the source of income is in one treaty state that treats the entity (which is a resident of a third state) as the recipient of the income, but the participants residence state taxes the income to the participants, the provision effectively requires the source state to treat the participants as the recipients of the income although under its own domestic law the sou rce state may treat the entity as the recipient of the income. 8 The U.S. model treaty article discusses a series of triangular cases and considers first what the outcome is under the current OECD model treaty. Next, with respect to each case, the article focuses on the impact of the special U.S. model treaty provision on residence of partnerships and partners (article 4(1)(d)). This discussion will not consider the approach taken in the OECD Report on the Application of the OECD Model Convention on Partnerships, issued August 16, 1999. (For prior coverage, see Tax Notes Intl, Aug. 16, 1999, p. 623, 1999 WTD 157-2, or Doc 1999-27066 (3 original pages). This report will be the subject of a later article. 9 Before discussing the cases in section 3 of this article, we will briefly examine the origin of this U.S. treaty provision: the regulations promulgated in 1996 under IRC section 894(c). The approach taken in U.S. model treaty article 4(1)(d) is consistent with the approach taken in the regulations under IRC section 894(c). Essentially, the latter provisions deny any reduced treaty withholding rate to an item of income derived by a nonresident company or individual through a U.S. or foreign (treaty country or third country) partnership or other fiscally transparent entity if (i) the residence country of the company or individual deriving the income does not include the item in the income of a resident entity itself or of a resident participant of that entity; (ii) the treaty does not address the applicability of the treaty to income derived through a partnership; and (iii) the foreign country does not impose tax on a distribution of such item from the partnership to a partner. /3/ .u7238dfbec6f87f4a958d2788d950287b , .u7238dfbec6f87f4a958d2788d950287b .postImageUrl , .u7238dfbec6f87f4a958d2788d950287b .centered-text-area { min-height: 80px; position: relative; } .u7238dfbec6f87f4a958d2788d950287b , .u7238dfbec6f87f4a958d2788d950287b:hover , .u7238dfbec6f87f4a958d2788d950287b:visited , .u7238dfbec6f87f4a958d2788d950287b:active { border:0!important; } .u7238dfbec6f87f4a958d2788d950287b .clearfix:after { content: ""; display: table; clear: both; } .u7238dfbec6f87f4a958d2788d950287b { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u7238dfbec6f87f4a958d2788d950287b:active , .u7238dfbec6f87f4a958d2788d950287b:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u7238dfbec6f87f4a958d2788d950287b .centered-text-area { width: 100%; position: relative ; } .u7238dfbec6f87f4a958d2788d950287b .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u7238dfbec6f87f4a958d2788d950287b .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u7238dfbec6f87f4a958d2788d950287b .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u7238dfbec6f87f4a958d2788d950287b:hover .ctaButton { background-color: #34495E!important; } .u7238dfbec6f87f4a958d2788d950287b .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u7238dfbec6f87f4a958d2788d950287b .u7238dfbec6f87f4a958d2788d950287b-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u7238dfbec6f87f4a958d2788d950287b:after { content: ""; display: block; clear: both; } READ: Taming Of The Shrew (197 words) Essay We will write a custom essay on Taxation specifically for you for only $16.38 $13.9/page Order now

Modern Problems and Opportunities in our Society

Modern Problems and Opportunities in our Society Introduction In modern society, people are facing serious problems that have impacted negatively on their lives. These problems are social, economic or political problems (Davis, 2004). These problems have led to the deteriorating development in many countries of the world. The situation is severe in third world countries.Advertising We will write a custom essay sample on Modern Problems and Opportunities in our Society specifically for you for only $16.05 $11/page Learn More The problems have caused immense suffering to the people living in these counties and huge amounts of money are being used in addressing the problems. The outcome has been vicious circle of poverty amongst the several countries. Main problems; their prevalence and how they have affected the Society The societal problems encountered today may be either natural or artificial (Guba Lincoln, 1909). The most serious ones include poverty, diseases (cancer, HIV Aids, diabetes, malaria), child abuse and molestation, drug abuse, corruption and racial discrimination, inequality, economic problems such as unemployment, rapid population growth and infant mortality among others. Despite the fact that some efforts have been made to reduce these problems the rate at which they are being wiped out is very low. A disease like malaria is a serious killer especially in the tropical areas that has claimed the lives of many people including young children. The other dangerous diseases include cancer, diabetes and HIV aids which are incurable. The prevalence of such diseases bring with them other problems, for instance many orphans who are left by their parents become dependency and are burden to the society.Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More Problems like criminal injustices are very common in many countries and the most shocking thing is that they are perpetrated by the ones who should be against the virtue. There is no fair treatment and this has been strengthened by the increasing corruption. Discrimination is all over and people are being deprived of their rights. Discrimination leads to misallocation of resources and people perpetrate poverty among the disadvantaged groups in the societies (Guba Lincoln, 1909). Poverty is another major social problem that is threatening the lives of many civilians. It is estimated that almost more than a half of the world’s population is living below the poverty line. Child abuse and molestation has been on the increase. There has been several reported cases of rape amongst the young children, a major violation of human rights that is affecting the welfare of both the victims and those who take care of them. Drugs are being abused everyday life. Many youths’ lives are at stake due to misuse of drugs. Drugs abuse bring with them both social and economic costs. The economic costs are incurred in th e sense that rehabilitation expenses and other medical costs are incurred in tackling the drug abuse related cases. The social costs are on the user’s side since there is serious deterioration in one’s life. Rapid population growth is a demographic and social problem prevalent in developing nations. This leads to competition of the available resources and high dependency ratio in those countries. This condition has led to the emergence of other social problem due to limited social amenities. There has been an issue of gender violence among some families, a situation that has been difficult to handle.Advertising We will write a custom essay sample on Modern Problems and Opportunities in our Society specifically for you for only $16.05 $11/page Learn More Almost all the problems being faced in modern world are created by the human being himself and they are increasing at a very high rate thus compromising the betterment of human welfare (Guba L incoln, 1909). Opportunities arising as a result of the Societal Problems Every problem calls for a course of action (Goodman, 1984). In the process of addressing the above-mentioned problems, some opportunities are created for the people who are involved. International development groups are emerging out to assist the victims of poverty through provision of humanitarian aid. They require people to handle the tasks and subsequent creation of job opportunities for those handling the tasks. Problems like drug abuse are brought about by the psychological problems and therefore they call for peer counselors and appropriate advice to the victims. In addition, rehabilitation facilities need to be put in place to assist the victims. All these require well-established institutional frameworks that also require personnel and specialized facilities that need to be established. Consequently, there is creation of more employment opportunities. In a move to combat several cases of human rights v iolation and criminal injustice cases, there is greater need to maximize citizen’s welfare and enhance development in the society. There has been emergence of numerous advocacy and lobby groups to effect the desired change in the society. They are being led by human rights activists that want to see justice restored and the fundamental human rights are properly safeguarded (Davis, 2004). The efforts are also enhanced through international support whereby numerous opportunities are created and where people can share ideas and some job opportunities are created.Advertising Looking for essay on social sciences? Let's see if we can help you! Get your first paper with 15% OFF Learn More Conclusion The most serious problems facing the modern societies have contributed to backwardness, injustices and reduced democratic space. It has been noted that majority of the problems are caused by human beings themselves (Goodman, 1984). Though the problems come along with some opportunities, the damage they cause to the society is huge and appropriate measures need to be put in place to make the world a better place to live. References Davis, G. A. (2004). Creativity is forever. Atlanta: Hunt Publishing Company. Goodman, N. (1984). Of mind and other matters. Cambridge, M: Harvard University Press. Guba, E. Lincoln, Y. (1909). Fourth generation evaluation. Newbury Park, CA: Sage.

Contrast and compare 'karnak cafe' and 'The day the leader was killed' Literature review

Contrast and compare 'karnak cafe' and 'The day the leader was killed' by Naghuib Mahfouz - Literature review Example The mutual interaction over delicate situations between the characters reveal in the most natural way, the convictions for which the novel stands for. This is the uniqueness of the writing style of the author. As the story develops, it becomes poignant without losing its ground and reality. Mahfouz has created a sensational and beautiful character in Qurunfula, the proprietress of Cafe. She is just like the oases in desert. The stern author becomes an entirely different man when he portrays her character. He turns a poet in adoring her qualities of head and heart. How she puts up with the vicissitudes of life is brilliantly elucidated by the author. How intelligently she detaches from her glorious past and maintains her essential dignity as a common individual, is a lesson for womenfolk in any part of the world. Contrast†¦.2 The protagonist, though entered the Cafe, by chance, he was surprised to see Qurunfula there in her new role. He describes his past relationship with her in a cryptic style. Mahfouz (2008, p.4) writes, â€Å"We had never had any kind of relationship, whether of affection, self-interest, or simply courtesy.† How and to what extent she is able to retain her past beauty of the body and nobility of soul! Here is another masterful description of the Karnak Cafe with the presence of Qurunfula. Mahfouz (p.5) writes, â€Å"Here you get to sense past and present, in a warm embrace, the sweet past and glorious present. To top it all, there is that enticement that the unknown brings.† The author has intelligently analyzed the contemporary ground realities of the Egyptian government. Though the governments change, nothing much happens to improve the social and economic conditions of the common people. The author touches upon the issues, how psychological imprisonment works in a seemingly free society, how an atmosphere of fear persists and how people are subjugated. No positive improvement is seen to break the age-old societal tradit ions, the freedom of the individuals is not guaranteed. It is a peculiar type of society of mutual suspicion. No violent or radical reactions are depicted in the novel from the side of the government or from the people, though! The discontent of the people is seething within and they are compelled to carry on with the available discipline and remain amenable to the bitter realities of the Cairo-world from where political power is unleashed. Kanak Cafe is sort of a ‘mini parliament’ of the people where a cross-section of the people meets. An attempt has been made by the author to depict the generation gap that was Contrast†¦.3 emerging in the society, the clash of the values of the old and the combustible younger generation. The legendary former dancer Qurunfula is the link, and the ambience created by her is to the liking of both the old and new, for strange reasons. Perfect human values, love and affection springs forth in that Cafe, and the people gather there, f ind psychological relief by discussing the hot political issues and by tendering varied reactions. The disappearance of the three young customers of the Cafe, create terror in the hearts of the customers. Various guesses float forth about their fates. Secret police took them to an unknown destination and they were cruelly tortured. The pleasant atmosphere in the Cafe stands vitiated due to mistrust with the fear that someone amongst them is the police informer. The heaven of

Summary of a book chapter Assignment Example | Topics and Well Written Essays - 500 words - 9

Summary of a book chapter - Assignment Example A small nation facing external threats relies on alliances to overcome such security issues (Duffield, 1992). According to the author, alliances have been a common place in modern history. There have been close to 648 alliances since the early 19th century up to the 21st century. However, most of these alliances have been significantly small with an average of three member nations. Alliances are common in a number of European nations. The author concurs with the notion that alliances are a major influence on international relation. The author attributes a number of outbreaks and spread of the military conflict to alliances. He supports this assumption by stating that the establishment of international alliances can have significant effects on the security of the individual nation and help to determine both the likely outcome of a war (Duffield, 1992). The author provides a number of factors that explain the persistence and collapse of alliances. Approximately 263 alliances with both defensive and offensive attributes have existed for close to 200 years. The author provides estimates of their mean of duration and standard deviation at 13.4 and 13.1 respectively. Defensive alliances with no offensive elements lasted longer. According to the author, wars and shift in the map of global politics that such wars occur are the key factors affecting the persistence or the collapse of alliances (Duffield 1992). Out of the many alliances formed in the late 19th century, a few outlived the First and the Second World War. The author provides other factors behind the persistence and the collapse of wars. The motive behind the formation of alliances is a key determinant of whether the alliance will last for long or whether it will collapse after a short duration. According to the author, as long as the motives for the formation of alliances remain in place, then the alliance will persist. The author agrees that international relation is a key motive for an alliance

Types of Deposits and Bank Accounts

Types of Deposits and Bank Accounts Banks receive money from the public by way of deposits. The following types of deposits are usually received by banks: Current deposit Saving deposit Fixed deposit Recurring deposit Miscellaneous deposits Current Deposit Also called ‘demand deposit’, current deposit can be withdrawn by the depositor at any time by cheques. Businessmen generally open current accounts with banks. Current accounts do not carry any interest as the amount deposited in these accounts is repayable on demand without any restriction. Banks usually charge a small amount known as incidental charges on current deposit accounts depending on the number of transaction. HSBCs current account takes the hassle out of managing your daily finances. You wont need to rush around to pay your bills; simply arrange for direct debit payments or issue a cheque and mail it at your convenience. Whats more, youll have access to your account and a wide range of banking transactions, 24 hours a day, seven days a week with our ATM Cards. MCB make your everyday banking simple. It is also a perfect gateway to a world of products and services designed to meet your needs.MCB’s current account is like a swiss army knife: easily accessible, it comes with multiple features that are perfect for your daily banking needs like cheque books, overdraft facilities, credits cards, mobile banking and so on. Savings deposit/Savings Bank Accounts Savings deposit account is meant for individuals who wish to deposit small amounts out of their current income. A saving account can be opened with or without cheque book facility. There are restrictions on the withdrawls from this account. Savings account holders are also allowed to deposit cheques, drafts, dividend warrants, etc. drawn in their favour for collection by the bank. To open a savings account, it is necessary for the depositor to be introduced by a person having a current or savings account with the same bank. MCB ‘s retirement plan offer a comfortable retirement to old people. Start today by putting aside as little as Rs 1,000 each month in your Retirement Plan. This can help old person to better enjoy their lives peacefully without depending on others.MCB also offer educational plan by which it can offer a good future to your children. Education is key to your childrens future. But have you thought about the costs of higher studies? Start planning today by investing in our Education Plan. Planning your child’s future, with the Education Plan, you only have to contribute a monthly minimum amount of Rs500. Our financial experts will help you choose the investment funds that best suit your needs in our wide range of products. Barclays offer junior saving account. As a parent, you know its never too early for your child to learn to save. And it’s a better way to teach them with a fun, easy way – saving the junior way, enjoying high interest rates. Your child will be able to see his money grow faster, thanks to a higher interest rate than a normal savings account. Interest is calculated daily and credited half-yearly. Enjoy attractive interest rates as high as 1 months FD. Your Child is protected. MCB offers Junior 12-17. Teenagers have different expectations. Junior account 12-17 caters for their fast evolving needs while enabling you to save for their future and benefiting from: Fresh and rewarding Start saving with a minimum deposit of only Rs 500 Earn interest on your savings Let your child learn to manage money with a MCB Junior Card Register for MCB Refill and your child can reload mobile credits on the go (Emtel and Orange) Fixed deposit The term ‘Fixed deposit’ means deposit repayable after the expiry of a specified period. Since it is repayable only after a fixed period of time, which is to be determined at the time of opening of the account, it is also known as time deposit. Fixed deposits are most useful for a commercial bank. Since they are repayable only after a fixed period, the bank may invest these funds more profitably by lending at higher rates of interest and for relatively longer periods. The rate of interest on fixed deposits depends upon the period of deposits. The longer the period, the higher is the rate of interest offered. Barclays Bank- A Fixed Deposit Account can be a great way to save as it helps to remove the temptation to dig into your savings, all the while earning a higher rate of interest over a fixed term. As a Premier Banking customer you earn a significantly higher interest on your Fixed Deposits, with accounts available in both local and foreign currencies. With your Fixed Deposit Account you get: A fixed rate of return over an agreed period of 3 to 12 months calculated flat on the principal, Choice of account currency (SCR, GBP, EUR and USD) Minimal cost on breakage of the deposit before maturity You may apply for this account along with another applicant, where you may choose to have both parties be required to sign any instructions to debit the account or any of the parties sufficing for the transaction to be accepted. In addition, you may request for other parties to operate your Fixed Deposit Account on your behalf. We call such a nominated person an authorised signatory. To open a Fixed Deposit Account, you are required to have a current or savings account with us. Upon applying for your Fixed Deposit Account, you can provide us with instructions on how to manage the principal and interest in the account upon maturity of the deposit or provide the instructions when you receive your Renewal Notice. You may ask us to roll over the deposit plus interest at current rates, to roll over the deposit only and credit the interest your current or savings account, or to credit the principal plus interest to your current or savings account. While you are guaranteed a fixed interest on the principal, should you break your deposit prior to maturity, you will be charged a breakage fee and the pro-rated interest calculated based on the prevailing Instant Savings Account interest rate and the period over which the deposit was held. SBM Our term deposit gives you the option of placing your money for a fixed term, thereby earning a higher rate of interest. Features: Minimum deposit of Rs 50,000 Interest payable monthly, quarterly, half yearly or at maturity Interest paid to Current / Savings account (CASA) / by cheque Term Deposits offered for periods of 12, 24 and 36 month What happens if I want to withdraw the money prior to the maturity date? Floating Rate Deposit Encashment of deposit prior to maturity is at the discretion of the bank. Interest may be forfeited if funds are withdrawn within 3 months of date of deposit. A penalty of either 1% or the cost incurred by the Bank for replacement of the Deposit (whichever is higher) may be charged at the Bank’s discretion. Fixed Rate Deposit Encashment of deposit prior to maturity is at the discretion of the bank. In addition to 1% penalty, customer opting for fixed rate of interest will have to bear the cost of replacement of funds in case of premature encashment. The penalty to be levied for encashment of a fixed rate deposit will be determined at the time of encashment. The penalty will depend on the market rate prevailing on the date of encashment. Recurring Deposits Under this type of deposit, the depositor is required to deposit a fixed amount of money every month for a specific period of time. Each instalment may vary from Rs.5/- to Rs.500/- or more per month and the period of account may vary from 12 months to 10 years. After the completion of the specified period, the customer gets back all his deposits along with the cumulative interest accrued on the deposits. Miscellaneous Deposits Banks have introduced several deposit schemes to attract deposits from different types of people, like Home Construction deposit scheme, Sickness Benefit deposit scheme, Children Gift plan, Old age pension scheme, Mini deposit scheme, etc. ATM An Automated Teller Machine (ATM) is a computerized machine that permits bank customers to gain access to their accounts with a magnetically encoded plastic card and a code number. It enables the customers to perform several banking operations without the help of a teller, such as to withdraw cash, make deposits, pay bills, obtain bank statements, effect cash transfers. Advantages of ATM in Mauritius Get 24 hour access to your money Free of charge to any HSBC accountholder Saves time since no need to queue up at the Bank counter Withdraw or Deposit Cash Transfer Funds Balance Enquiries Banks ATM points in Mauritius MCB Around 91 SBM Around 44 HSBC Around 16 BARCLAYS Around 33