The advantage and disadvantage of family business
Introduction
What is Family Business? As we know, family business basic includes the following three distinct characteristics: Enterprise and majority stake are controlled by family; corporate decision-making power on major issues are controlled by family; Enterprise all the important positions held by family members. We have defined the enterprise against this background as a family business. According to authoritative statistics, the average life expectancy of American’s family business is about 40 years; the average life expectancy of China’s family business is less than five years. Every entrepreneur wants their companies to sustainable development and hope that their businesses to bigger, longer, and stronger. In the USA, there is 40% family business closed in first year and 60% family business closed in second year. So do you think the family business is good? In this essay, I will argue the advantage and disadvantage of family business. The whole essay has three parts and five paragraphs.
Advantage of family business
1. Family business has strong adaptability
There is a high degree of trust between family members in family business. The trust can make the cost of decision-making decrease. For instance, a family business in China, there is only 15 members of the family as the company’s all staff in the period of startup. It has simple structure, enterprise management level, fast information relay speed. With the help of family business model, the family business can change their decision quickly according to the change of market environment.
2. Family members do their best to improve the efficiency of the family business
In family business, every member is very hard work and individual potential often can show up to 80%-120%, this is the core competitiveness of the family business. The owner and operator are all the leader of family why make the decision layer and execution layer are overlay together. So information can transmit from leader to staff, the decision can execute in high speed and high efficiency, because the executor is often policymakers, which can help family business grab first opportunity and expand their market.
3. The demand of inspiring is very low
Because staff and management are related to each other, the benefit of enterprise are relate to the individual benefit. So everyone will work hard without inspiring. What is more, they have good cooperation result from family members are familiar with each other. The common goal of family and the consistency of same benefit of family members even can make all of them work without reward. Thus be able to get competitive advantage in a short period and quickly complete primitive accumulation of capital.
4. Family business can get start-up capital easily and quickly
Family business can get capital easily and quickly in the stage of start-up. With the help of the blood relationship, family business has wide social resources and social relationship that is why venture capital quickly gathered in low cost.
Disadvantage of family business
1. Family conflicts will penetrate the governance of family business
In family businesses, the family’s conflicts easy to transfer to the management of enterprise, what worse is that make family conflicts mix with business conflicts. This will give family enterprise operator a big problem of management, if not handled them properly, the problem may lead to the disintegration of family business. Because when a family business’s core layer face to cracks, several functions will be ineffective.
2. Family business management system conflict with modern enterprise management system, so it will restrict the development of family business
Firstly, the family business governance structure is not based on business principle, so its organizational behavior is based on ethics and but not according to the market rules, they maintain the survival and development of enterprise depends on the emotion and trust from family members, rather than purely interests. Secondly, managing mode of family enterprises is restricted by the development and expansion of the bottleneck. When the family business become a certain scale, the development power will decrease if not absorb foreign capital
3. Business environment change fast. It is easy to lead to the decision-making mistakes in family business
Family business needs to continue developing, so the internal and external environment will change greatly. Family enterprise’s traditional management mode of arbitrary decision-making progress will make decision error in new market environment, which are adverse for enterprise’s development, even may lead to the enterprise bankruptcy sometimes.
Response for the disadvantage
1. We should coordinate the relationship between family members
Family business must pay attention to the relationship between family members, establish the reasonable solution mechanism like set up corresponding processing departments. The head of department must be the family member who has the authority, which can handle contradictions between family members to avoid the family enterprise development reaction.
2. Improve the family leader’s traditional opinion is also very important
With the expansion of the scale of enterprises, it is very important for transfer some rights from the family to external managers .It requires the leader of family business must have strong awareness of change and development. Family business owners need to improve their own knowledge which can adapt to increasingly standardize market economic rules
3 .Management System Innovation is good for family business.
First of all, reduce enterprise management level and responsibilities, put forward specific competition strategy. What is more, pay attention to training employee and inspiring to innovation .Lastly, use advanced management method to establish a standardized management system.
Conclusion
To sum up, of course, the family business governance structure is not only a kind of internal institutional arrangements, in addition, it also need the help of the incentive mechanism. Meanwhile, its external management environment affects the development of internal governance structure. The governance structure should be changed gradually, this is benefit to the steady development of family business.
References
1. http://fbr.sagepub.com/cgi/content/abstract/7/4/377
2.http://www.questia.com/googleScholar.qst;jsessionid=Lv5H3mnLG3JN1tbXqvDprh22JLfWypKWwGXzGGLCBYqbVxCYZ5LD!1547632101!-2000885492?docId=5002338619
3. Glen E. Kreiner、Chamu Sundaramurthy[J]，1042-2587© 2008 by Baylor University.
4. SHARON M. DANES and JINHEE LEE，Department of Family Social Science University of Minnesota[J], 290 McNeal Hall，1985 Buford Avenue, St. Paul, MN 55108, USA .
5.http://www3.interscience.wiley.com/journal/119157401/abstract?CRETRY=1&SRETRY=0
Thursday, 18 March 2010
Eddie's final essay
Topic: Should e-recruiting method replace traditional recruitment method?
The past 20 years have seen a considerable increase the internet use in the world, so at the present time it is the internet which has a big influence on people’s lives. It can be found that traditional methods have gradually been replaced by the internet. For instance, people use the internet chat programmes such as MSN Messenger to communicate with their parents or friends who live in different regions. Due to technological progress, companies also adopt the latest way to recruit employees. In this decade e-recruitment has grown rapidly in the marketplace, using the internet channels communicate the potential job seekers alongside traditional method. The definition e-recruitment is “the act of scouring the internet to locate both actively-searching job seekers and also individuals who are content in their current position.”(Tom Redman and Adrian Wilkinson, p64) A minority of people insist that companies should use traditional method to recruit personnel which is better than e-recruitment. However, from the long-range conception of e-recruitment is going to replace tradition recruitment method. This essay will describe the development of this recruitment method in recent years. It will then examine the advantage of e-recruitment. After this, it will examine the drawback of e-recruitment. Finally, there will be an analysis of the new recruitment method.
It would appear that this recruitment has dramatically transformed in recent years and has provided new recruitment method for companies. Due to the rapid development of technology, the emergence of e-business has a big influence on the business environment which revolutionised the way companies conduct business. However, e-recruiting methods have been widely used since in the middle of 1990s. A majority of people probably divide six categories into e-recruiting sources which are general-purpose job board, niche job board, e-recruiting application service providers, hybrid recruiting service providers, e-recruiting consortium, and corporate career web site. Moreover, the architecture for the holistic e-recruiting system has been also assisted the development of e-recruiting since in the middle of 1990s. Among recent recruitment methods, e-recruiting is considered as one of the most efficient in modern society, companies and job seekers begin to announce job information on the website which could provide job vacancies to job seekers. It is generally agreed that e-recruiting could be the trend of recruitment method.
It can be found that e-recruiting has brought some benefits for companies and job seekers. First of all, it is widely recognised that companies could cost saving the advertisement fee in newspapers because every year companies budget this fee in recruitment. Using traditional e-recruiting composes no more than a thirty word newspaper job advert, but it is not clear that companies would like to express job vacancies which could not find ideal job seekers. It is doubtful whether publishing advert is worth it or not, whereas by using e-recruiting, companies could save the advertisement fee and describe job vacancies detailed such as job descriptions and person specifications. The second advantage of e-recruiting is improved time to hire. Many e-job boards permit employers to research companies’ database for qualified applicants by using the specific search standard. That is why employers can read resumes and respond to applicants through the email. This is faster than reading paper resumes and trying to make telephone contact. The third advantage of e-recruiting is renewed job vacancies are quickly. When the employer has hired a new employee, job vacancies can be removed fast. It can probably reduce that job hunters still have job vacancies attitude. Then, e-recruiting can be successfully practiced on major search engines, niche search engines and job boards, discussion lists, and other virtual communities. It is clear that companies can attract many job hunters who submit resumes to companies.
On the contrary, it can be seen that the drawback of e-recruiting would be the limited ability to distinguish technology and network problems in web searches. There are three technological problems in web searches. First of all, it is difficult to find a company’s webpage. As the internet platform for human resource management is provided, most companies offer job vacancies to job hunters. Unfortunately, a minority of companies do not have a webpage, so it is difficult to understand a companies’ background. Secondly, it is only few links between general job board such as Monster.com and a company’s webpage. If job seekers use an e-recruiting website to find a job, job board seldom link to a company’s webpage. It would be time-costing to search the job from an e-recruiting website whether it is worth it or not. Thirdly, it appears to be difficult to reformat and diverse webpage’s specification. Companies have established different formats style, suddenly companies are asked to build the same form which has a big challenge work. As far as network problems are concerned, job seekers encounter anxiety about the privacy of information submitted. It is generally concerned about the privacy of information which could be stolen by internet hackers. Yet, if the privacy of information is stolen, it can meet some problems and cannot calculate the loss.
E-recruiting has a big influence on company’s recruitment way, even most companies have given up using traditional recruitment method to recruit new employees. I personally believe that e-recruiting could be the trend of recruitment method. However, some people still think traditional recruitment method is better than e-recruiting because they are suspicious of e-recruiting security, especially personal information whether let out or not. Perhaps, companies need cooperate to hire a specialist who operates this website. It can prevent internet hackers from stealing personal information. By this measure, it can solve people suspicious. Moreover, making the same application format is convenient to job hunters, because every company have different application forms which let people criticise e-recruiting function. Maybe, every company, which utilises e-recruiting method to hire employees, should cooperate with a professional e-recruiting website to hunt job seekers. It is apparent that a profession e-recruiting website has a standard application format, so it can reduce job seekers’ convenient. The most important thing is it strengthens to link between general job board and a company’s webpage. A majority of people at the present time use the internet to find a job. If job seekers can link a company’s webpage from general job board, they can realise a company’s operation idea and job descriptions.
To sum up, the method of recruitment has dramatically changed since in the middle of 1990s. It is clear that cost saving, efficiency, and convenience are the most outstanding characters in e-recruiting. Due to the architecture for the holistic e-recruiting system assistant, e-recruiting has gradually developed since the mid-1990s. Even though e-recruiting still have some drawbacks, it will solve these problems as soon as possible which improve faster than we can imagine. It can reduce Thus, the overall advantage still encourages companies to utilise e-recruiting method which recruits employees.
Reference:
Tom Redman and Adrian Wilkinson (2004) Prentice Hall 3rd Contemporary Human Resource Management: Text and Cases P64
In Lee (July, 2007) An architecture for a next-generation holistic e-recruiting system, P 81-85 http://portal.acm.org/citation.cfm?id=1272518&coll=GUIDE&dl=GUIDE&CFID=80040467&CFTOKEN=61002549&ret=1#Fulltext
Daniel C. Feldman and Brian S. Klaas ,HUMAN RESOURCE MANAGEMENT, Summer 2002, Internet Job hunting: A field study of applicant experience with on-line recruiting,P1-18.
http://pdc.csusb.edu/Schreihans/4_Internet_Job_Hunting.pdf
Steven D. Maurer, Yuping Liu,Business Horizons (2007) 50, Developing effective e-recruiting websites: Insights for managers from marketers, 305–314
http://www.yupingliu.com/files/papers/maurer_liu_recruiting.pdf
The past 20 years have seen a considerable increase the internet use in the world, so at the present time it is the internet which has a big influence on people’s lives. It can be found that traditional methods have gradually been replaced by the internet. For instance, people use the internet chat programmes such as MSN Messenger to communicate with their parents or friends who live in different regions. Due to technological progress, companies also adopt the latest way to recruit employees. In this decade e-recruitment has grown rapidly in the marketplace, using the internet channels communicate the potential job seekers alongside traditional method. The definition e-recruitment is “the act of scouring the internet to locate both actively-searching job seekers and also individuals who are content in their current position.”(Tom Redman and Adrian Wilkinson, p64) A minority of people insist that companies should use traditional method to recruit personnel which is better than e-recruitment. However, from the long-range conception of e-recruitment is going to replace tradition recruitment method. This essay will describe the development of this recruitment method in recent years. It will then examine the advantage of e-recruitment. After this, it will examine the drawback of e-recruitment. Finally, there will be an analysis of the new recruitment method.
It would appear that this recruitment has dramatically transformed in recent years and has provided new recruitment method for companies. Due to the rapid development of technology, the emergence of e-business has a big influence on the business environment which revolutionised the way companies conduct business. However, e-recruiting methods have been widely used since in the middle of 1990s. A majority of people probably divide six categories into e-recruiting sources which are general-purpose job board, niche job board, e-recruiting application service providers, hybrid recruiting service providers, e-recruiting consortium, and corporate career web site. Moreover, the architecture for the holistic e-recruiting system has been also assisted the development of e-recruiting since in the middle of 1990s. Among recent recruitment methods, e-recruiting is considered as one of the most efficient in modern society, companies and job seekers begin to announce job information on the website which could provide job vacancies to job seekers. It is generally agreed that e-recruiting could be the trend of recruitment method.
It can be found that e-recruiting has brought some benefits for companies and job seekers. First of all, it is widely recognised that companies could cost saving the advertisement fee in newspapers because every year companies budget this fee in recruitment. Using traditional e-recruiting composes no more than a thirty word newspaper job advert, but it is not clear that companies would like to express job vacancies which could not find ideal job seekers. It is doubtful whether publishing advert is worth it or not, whereas by using e-recruiting, companies could save the advertisement fee and describe job vacancies detailed such as job descriptions and person specifications. The second advantage of e-recruiting is improved time to hire. Many e-job boards permit employers to research companies’ database for qualified applicants by using the specific search standard. That is why employers can read resumes and respond to applicants through the email. This is faster than reading paper resumes and trying to make telephone contact. The third advantage of e-recruiting is renewed job vacancies are quickly. When the employer has hired a new employee, job vacancies can be removed fast. It can probably reduce that job hunters still have job vacancies attitude. Then, e-recruiting can be successfully practiced on major search engines, niche search engines and job boards, discussion lists, and other virtual communities. It is clear that companies can attract many job hunters who submit resumes to companies.
On the contrary, it can be seen that the drawback of e-recruiting would be the limited ability to distinguish technology and network problems in web searches. There are three technological problems in web searches. First of all, it is difficult to find a company’s webpage. As the internet platform for human resource management is provided, most companies offer job vacancies to job hunters. Unfortunately, a minority of companies do not have a webpage, so it is difficult to understand a companies’ background. Secondly, it is only few links between general job board such as Monster.com and a company’s webpage. If job seekers use an e-recruiting website to find a job, job board seldom link to a company’s webpage. It would be time-costing to search the job from an e-recruiting website whether it is worth it or not. Thirdly, it appears to be difficult to reformat and diverse webpage’s specification. Companies have established different formats style, suddenly companies are asked to build the same form which has a big challenge work. As far as network problems are concerned, job seekers encounter anxiety about the privacy of information submitted. It is generally concerned about the privacy of information which could be stolen by internet hackers. Yet, if the privacy of information is stolen, it can meet some problems and cannot calculate the loss.
E-recruiting has a big influence on company’s recruitment way, even most companies have given up using traditional recruitment method to recruit new employees. I personally believe that e-recruiting could be the trend of recruitment method. However, some people still think traditional recruitment method is better than e-recruiting because they are suspicious of e-recruiting security, especially personal information whether let out or not. Perhaps, companies need cooperate to hire a specialist who operates this website. It can prevent internet hackers from stealing personal information. By this measure, it can solve people suspicious. Moreover, making the same application format is convenient to job hunters, because every company have different application forms which let people criticise e-recruiting function. Maybe, every company, which utilises e-recruiting method to hire employees, should cooperate with a professional e-recruiting website to hunt job seekers. It is apparent that a profession e-recruiting website has a standard application format, so it can reduce job seekers’ convenient. The most important thing is it strengthens to link between general job board and a company’s webpage. A majority of people at the present time use the internet to find a job. If job seekers can link a company’s webpage from general job board, they can realise a company’s operation idea and job descriptions.
To sum up, the method of recruitment has dramatically changed since in the middle of 1990s. It is clear that cost saving, efficiency, and convenience are the most outstanding characters in e-recruiting. Due to the architecture for the holistic e-recruiting system assistant, e-recruiting has gradually developed since the mid-1990s. Even though e-recruiting still have some drawbacks, it will solve these problems as soon as possible which improve faster than we can imagine. It can reduce Thus, the overall advantage still encourages companies to utilise e-recruiting method which recruits employees.
Reference:
Tom Redman and Adrian Wilkinson (2004) Prentice Hall 3rd Contemporary Human Resource Management: Text and Cases P64
In Lee (July, 2007) An architecture for a next-generation holistic e-recruiting system, P 81-85 http://portal.acm.org/citation.cfm?id=1272518&coll=GUIDE&dl=GUIDE&CFID=80040467&CFTOKEN=61002549&ret=1#Fulltext
Daniel C. Feldman and Brian S. Klaas ,HUMAN RESOURCE MANAGEMENT, Summer 2002, Internet Job hunting: A field study of applicant experience with on-line recruiting,P1-18.
http://pdc.csusb.edu/Schreihans/4_Internet_Job_Hunting.pdf
Steven D. Maurer, Yuping Liu,Business Horizons (2007) 50, Developing effective e-recruiting websites: Insights for managers from marketers, 305–314
http://www.yupingliu.com/files/papers/maurer_liu_recruiting.pdf
conclusion--Hanna
Studing abroad brings great opportunities for a bright future while it also has challenges that we must try our best to overcome what happened to make our dream come true. To sum up, the advantages of studying abroad outweigh the disadvantages greatly. If you have a chance I encourage students study abroad.
Ted’s final Essay
The Rising Dragon
Could Chinese become a new world leading language?
Introduction
This essay is about whether the Chinese will become a new world leading language. I will expound my opinion from two different points. Firstly I will talk from the history and development about the Chinese. Then in terms of advantages to prove Chinese will become a new world leading language, such as the population of Chinese speaker and Chinese economy and political status. Next I will illustrate the disadvantage of Chinese, like Chinese is the difficult learning language. In addition, at the end of this essay I will sum up my argument and topic, and then give my final conclusion.
Background
Chinese is the most populous used language, in the world about a quarter of the people speak Chinese, and about 40 million are learning Chinese. Now China is the third biggest economic entity in the world, and China is called “the world factory”. So with Chinese economic and cultural exchanges across the world is increasing, the Chinese is becoming more and more important now. More and more overseas Chinese is another power to promote it developing in the world. But compare with other world language such as English and French, Chinese is not used in many countries, and learning Chinese is very difficult even though now people know 2-3 foreign language is very common. So maybe in future we Chinese should change something by it-self to suit other country people’s habit. Only by doing so, the Chinese could become a new world language.
Part 1
Chinese is one of the oldest languages in the world, and it has influences on many Asian languages and characters. In short, the Chinese character is a kind of symbol language, Oracle bone inscriptions is the earliest Chinese characters, and was found at the Neolithic site of Jiahu in Henan, dated to around 6,600–6,200 BC (Paul R,2003). With the progress of history, The Chinese is also developing. From the age of Oracle bone inscriptions, there are only about 5,400 characters (Qiu 2000). But until now, the Chinese characters have 106,230 words (include Mandarin and Cantonese) (YITIZI dictionary, 2004).
Part 2
As we known, there are more than one and a half billion people speaking Chinese on the earth, so knowing Chinese means you can talk with most of people on the earth. China has helped 60,000 teachers promote Chinese internationally, and an estimated 40 million people are now studying Chinese as a second language around the world. There are 256 Confucius Institutes (a Chinese language and culture school which is support by Chinese Gov) and 58 Confucius classrooms have been established in 81 countries (Xinhua news, 2009).In 2005, 117,660 non-native speakers took the Chinese Proficiency Test, an increase of 26.52% from 2004 (Xinhua news, 2006). So following this trend, maybe in future you will find everyone could speak some basic Chinese.
Secondly, China is the third biggest economic entity in the world, and China is called “the world factory”, during the past 30 years, almost 90% of the Fortune 500 companies have invested in China. Especially at this time of global economic crisis, although the whole earth is being affected by the influence of economic crisis, Chinese economy still grows quickly. Also Chinese is one of five official languages in the United Nations. So in aspects of economy and politics, Chinese will play greater role at the political and economic stages.
Part 3
For most people, whose native language is not Chinese, think Chinese is the most difficult language to learn. As a Chinese native speaker, I think they are right.
First is the character. The Chinese has more than 100,000 characters. Most of the characters contained archaic and obscure meaning. Also many characters are composed of different but similar other characters, be careful, these Chinese characters are not easy to constitute as English words left-right order, maybe they are up-down order or inside-outside order. So for most Chinese beginner, all Chinese characters look like complex symbols.
The second difficult to learn Chinese is the tones, Mandarin Chinese has five tones, the first (high level tone), second (high-rising tone), third (falling-rising tone), fourth (high-falling tone) and the fifth neutral tone. Even in Cantonese there are six tones. In most Western countries, tones are used to express emphasis or emotion. So many foreigners could not speak the right Chinese pronunciation.
The third problem is Homophones, in many languages there are homophones, but Standard Mandarin has a large number of homophones. Because the Chinese character is single syllable and caused every pronunciation has so many homophones. For example the pronunciation gao is associated with over 30 distinct morphemes, including 高 (high, good), 糕 (cake), 膏 (grease), 镐 (pickax), 羔 (fawn), and 篙 (barge pole) and so on.
Conclusion
Sum up, Chinese is a very useful and important language in the world, in future it will become a new world language but not right now. Now there are some constraints hindered the development of Chinese rapid pace. But with the development of globalization, people could use some advanced learning methods or technology to proficiency in more than one different languages, even one day Chinese will exceed English and become a new world leading language.
Reference:1: Lu, Dan Journal of Asian Pacific Communication, Volume 18, Number 2, 2008, pp. 268-279(12), John Benjamin Publishing Company
2: G Hu, Review of Educational Research, 2008, rer.sagepub.com
3: Y Chen, Asian Social Science, 2009, ccsenet.org/journal.html
4: Paul Rincon (2003-04-17). BBC News
5: http://www.confuciusinstitute.net/
6: YITIZI dictionary, 2004, Taiwan (PRC) Ministry of Education
7: Qiu, Xigui (2000).Chinese Writing. Society for the Study of Early China and Institute of East Asian Studies, University of California, Berkeley
8: http://www.huaxia.com/ssjn/smxx/00197002.html
Wednesday, 17 March 2010
August' Essay
TOPIC: Further Strengthen Financial Supervision Is Not Conducive To Economic Development
Lehman's collapse led to the United states subprime mortgage crisis, then caused to the global financial crisis and the world economic bogged down in the mud. United States President Barack Obama win the U.S. presidential election in this environment .His the most important task is to lead the U.S. shake off the shadow of the financial crisis and return to the track of development .Now, one year has passed, Obama delivered his annual State Of the Union address speech to report what he has done over the past year. And i really focus on and interesting in this speech. This speech keep concentrating on economic and employment issues. And a part of his speech is talking about financial supervision. He said he will further strengthen financial supervision and to prevent the financial crisis and the financial crisis infection. But , I challenge that economic measure and query its rationality. I think that measure against the economic laws and impeded economic development .So, my essay will focus on discuss the adverse effects of strengthen financial supervision and the benefits of accordance with economic laws.
Financial liberalization was developing between the Second World War and the 1970s.The development of financial liberalization was improving so rapidly until the system fall down because of too many wrong assessed risk and leverage. So financial sector operates need big adjustment from its supervisor and create a supervisory frameworks which has more powerful. Financial supervision and control be produced at that time. Financial Corporation get too much greater responsibility after financial liberalization. So, supervision need to be “governance" supervisor and intervene under the agreed framework. At that background, "principle" is more important than "rule" Some significant changes in the European financial and led to a legal formalization of the UK financial system, but the foundation of the financial supervision have never been disappeared and resurfaced to guide the financial system by "principle" rather than rules- based system. And other countries also more critical and doubt , towards this British favorite for principles.
I think we should not only build up the principle financial supervision, but also to fusion some rules which is basically and certainly, as author said, the most effective and the best practice financial supervision is a system which have some principle that be supported by a set of prudential rules. However, the financial supervision need more caution to regulate the influence from both of them, as we know, too much rules will lead the market lose its creativity and innovative and it will under control when the environment of financial supervision is too loose as well. How to balance the principle and rule. In my opinion the principle effect the macroeconomic and rules effect the microeconomic .If the financial supervision have correct principles; the rules of that principle won't drift off the course as well. But I also realized success depend on details .The reason why economic growth year by year in that country probably because of some correct rules which have carried out. so ,my view is should balance the influence of finance between principle and rule.
The responsibility of Financial Supervisors is to supervise the work of the organization, which under supervise. And one of the key problem is when and how to intervene in a problem bank. It’s very important, because if supervisors waiting too much time to supervise, the worth of the bank will continue to decrease and lost the chance, which may increase, furthermore, systemic risks may increase. Finally lead to high cost for the government as well as taxpayers. After every financial crisis, the debate about “whether should to strengthen financial supervision” always popular. This discussion is talking about which is the key point for supervisors to intervention in problem banks and to act quickly and decisively, finally to minimize losses to taxpayers and other kinds of people who lose the benefits from crisis. In some debate which about financial supervision; rules are often as the preferred solution, because the crisis of a financial institution stills a complex problem which may interests crash. The rules supervision system in the United States carry out many years and no doubt solve some problem which from problem banks. But the financial crisis still happened again, so more voices are being heard in favor of a principles system, which means cripple the financial supervision propriety. Most European supervisor depend more on principles than rules.
I get a conclusion from this article. Make a clear-cut conclusion about financial supervision is not simple ,even a rules system is clear and able to solve some problems quickly and effective in short-term, but it is also rigid or mechanical. We need depend on new ways, which is more flexible when facing to the financial crisis. So , what is the way which is flexible to solve those problems. I think we let the market take the lead in setting its own parameters while Government intervention is kept to minimum. It is the best way which can solve the financial problem and the effect is very extensive.
Even the financial crisis gradually out of sight, but the effect of the financial crisis still exists. So, how to avoid the next crisis are serious problems we have to face. People always try to find a way which can avoid it after each financial crisis, but always an thankless effort. Obama, which is the president of the United States, and he put forward a policy which to strengthen the financial supervision. Is it really useful for the economy of this country and all over the world? I think it is open to question? In my opinion, strengthen the financial supervision applies only to solve the immediate problem but less far-reaching impact, that’s why the financial crisis always happened intervals. So, keep improving the self adjusting system of the market economy still the most important thing we should to carry out firmly.
reference:
Marc Quintyn,principles versus rules in financial supervision - is there one superior apprach, 2009, http://www.qfinance.com/financial-regulation-best-practice
Marc Quintyn,Rules versus Discretion in Supervisory Interventions in Financial Institutions,http://www.qfinance.com/capital-markets-best-practice/rules-versus-discretion-in-supervisory-interventions-in-financial-in
Lehman's collapse led to the United states subprime mortgage crisis, then caused to the global financial crisis and the world economic bogged down in the mud. United States President Barack Obama win the U.S. presidential election in this environment .His the most important task is to lead the U.S. shake off the shadow of the financial crisis and return to the track of development .Now, one year has passed, Obama delivered his annual State Of the Union address speech to report what he has done over the past year. And i really focus on and interesting in this speech. This speech keep concentrating on economic and employment issues. And a part of his speech is talking about financial supervision. He said he will further strengthen financial supervision and to prevent the financial crisis and the financial crisis infection. But , I challenge that economic measure and query its rationality. I think that measure against the economic laws and impeded economic development .So, my essay will focus on discuss the adverse effects of strengthen financial supervision and the benefits of accordance with economic laws.
Financial liberalization was developing between the Second World War and the 1970s.The development of financial liberalization was improving so rapidly until the system fall down because of too many wrong assessed risk and leverage. So financial sector operates need big adjustment from its supervisor and create a supervisory frameworks which has more powerful. Financial supervision and control be produced at that time. Financial Corporation get too much greater responsibility after financial liberalization. So, supervision need to be “governance" supervisor and intervene under the agreed framework. At that background, "principle" is more important than "rule" Some significant changes in the European financial and led to a legal formalization of the UK financial system, but the foundation of the financial supervision have never been disappeared and resurfaced to guide the financial system by "principle" rather than rules- based system. And other countries also more critical and doubt , towards this British favorite for principles.
I think we should not only build up the principle financial supervision, but also to fusion some rules which is basically and certainly, as author said, the most effective and the best practice financial supervision is a system which have some principle that be supported by a set of prudential rules. However, the financial supervision need more caution to regulate the influence from both of them, as we know, too much rules will lead the market lose its creativity and innovative and it will under control when the environment of financial supervision is too loose as well. How to balance the principle and rule. In my opinion the principle effect the macroeconomic and rules effect the microeconomic .If the financial supervision have correct principles; the rules of that principle won't drift off the course as well. But I also realized success depend on details .The reason why economic growth year by year in that country probably because of some correct rules which have carried out. so ,my view is should balance the influence of finance between principle and rule.
The responsibility of Financial Supervisors is to supervise the work of the organization, which under supervise. And one of the key problem is when and how to intervene in a problem bank. It’s very important, because if supervisors waiting too much time to supervise, the worth of the bank will continue to decrease and lost the chance, which may increase, furthermore, systemic risks may increase. Finally lead to high cost for the government as well as taxpayers. After every financial crisis, the debate about “whether should to strengthen financial supervision” always popular. This discussion is talking about which is the key point for supervisors to intervention in problem banks and to act quickly and decisively, finally to minimize losses to taxpayers and other kinds of people who lose the benefits from crisis. In some debate which about financial supervision; rules are often as the preferred solution, because the crisis of a financial institution stills a complex problem which may interests crash. The rules supervision system in the United States carry out many years and no doubt solve some problem which from problem banks. But the financial crisis still happened again, so more voices are being heard in favor of a principles system, which means cripple the financial supervision propriety. Most European supervisor depend more on principles than rules.
I get a conclusion from this article. Make a clear-cut conclusion about financial supervision is not simple ,even a rules system is clear and able to solve some problems quickly and effective in short-term, but it is also rigid or mechanical. We need depend on new ways, which is more flexible when facing to the financial crisis. So , what is the way which is flexible to solve those problems. I think we let the market take the lead in setting its own parameters while Government intervention is kept to minimum. It is the best way which can solve the financial problem and the effect is very extensive.
Even the financial crisis gradually out of sight, but the effect of the financial crisis still exists. So, how to avoid the next crisis are serious problems we have to face. People always try to find a way which can avoid it after each financial crisis, but always an thankless effort. Obama, which is the president of the United States, and he put forward a policy which to strengthen the financial supervision. Is it really useful for the economy of this country and all over the world? I think it is open to question? In my opinion, strengthen the financial supervision applies only to solve the immediate problem but less far-reaching impact, that’s why the financial crisis always happened intervals. So, keep improving the self adjusting system of the market economy still the most important thing we should to carry out firmly.
reference:
Marc Quintyn,principles versus rules in financial supervision - is there one superior apprach, 2009, http://www.qfinance.com/financial-regulation-best-practice
Marc Quintyn,Rules versus Discretion in Supervisory Interventions in Financial Institutions,http://www.qfinance.com/capital-markets-best-practice/rules-versus-discretion-in-supervisory-interventions-in-financial-in
Renie's whole essay.
Some people think company and staff can benefit a lot from telecommuting, while others disagree, what’s your opinion?
Telecommuting makes work better
Taking your favorite work to home is just what daily commuters hope for, the flexibility in working place, time and schedule that telecommuting provides enable them no need to follow nine-to-five routine, and make their work more enjoyable. The technology in early 1970s brought telecommuting into being; satellite and computer were connected by using telephone lines as dumb terminals (a terminal with no independent processing ability of its own which can only carry out operations when connected to a computer, ICIBA interpretation). By the early 1980s, the sub-offices and workers could use personal computer access to company mainframe which enabled people work from home. With the proliferation of internet, the number of people who telecommute increase steadily, and it gradually become a trend, it’s estimated that about 11billion workers working from home in USA by the year of 2009, but in the meantime, this progress also attended by many questions, one of which is whether the advantages that telecommuting brings to company and staff exceed its disadvantages has been the hot issue ,In this essay, firstly, I will analysis its strength and weakness, and then make comparison on two sides. In my view, it can bring numerous benefits for both.
According to the survey conducted by CDW-G, an outstanding information provider technology, about 2/3 interviewed people want to telecommute, and the reasons are: to get rid of commute, to achieve work-life balance, and also to save money, and telecommuting can bring these benefits to people. The article reveals that telecommuting can help people who work in New York City save 6 years during the track of 40-year working, an ordinary worker in USA wasters about 4 years on working back and forth, and actually four years can be spent on their family, interests, even on work. It’s also indicate that the most obvious benefit of telecommuting is increased flexibility; it offers e-worker more freedom to handle family things, and an overwhelming percentage of 90% e-workers feel happy with the life that telecommuting provides them. Moreover, research shows telecommuters are more productive than their office colleagues, and 40% surveyed e-workers said they’re more productive at home. Besides these, one typical e-worker can save $7,000- $17,000 a year. In short, telecommuting has many advantages, and it can improve workers' life quality and work productivity.
The above survey shows how many people want to work from home, then analysis the probable reasons, and the content supports my view of what benefits staff can get from telecommuting from 3 aspects. In the first place, the data that CDW-G provides can be authoritative for it’s an outstanding technology; it shows people’s desire of telecommuting, and other study figures are evident and persuasive enough. In addition, author gives detailed information to support his opinion, for example, the first reason is people want to get rid of commute, the author interprets it from another angle which is the time wasted on commuter can be spent on other things. Further more, and it has an all-round view which can complement my opinion, for instant, in my view, flexibility just means the e-worker can enjoy flexible working condition and schedules, but in this article, it means the whole family can enjoy, because e-worker can schedule their work according to family, such as, send kids to school, and make meals.
Though Telecommuting seems perfect, when you work from home, you’re separate from not the worst parts of work (no disgusting bus, no dash to work, no one to supervise you), but also the best parts, associated with the feeling of isolation and low self-discipline for the staff, and diminished productivity, business information exposure for the company. Isolation is the number one disadvantages, because e-workers don’t have colleagues to share professional ideas, to cooperate with each other. In the long run, lack of involvement in the team, isolation will take place, and also they will lose the moral, motivation, and inspiration which will lead to low productivity. And when e-workers work from home, they may easily disturbed by the surroundings, either because of the distraction from the family or their own ability to focus on jobs which will give rise to low self-discipline. In addition, telecommuters’ every connection to data base may threaten the network security of the company. In brief, when people benefit from telecommuting, at the same time, it brings about potential damage to individual, company, and the culture of which will be challenged.
It’s true that these problems would rise if a company doesn’t deal with telecommuting properly, but I still don’t entirely agree with those points, to begin with, when a company want to carry out telecommuting and to ensure employees working from home successfully, they should at least be aware of these disadvantages. In the second place, isolation could be a problem, but it can cultivate their ability to work independently, and if everyone fulfills his own task, the productivity actually will be improved. Company can make a schedule how often need e-workers to have business meetings, lunches, or even sports competitions to enhance company’s cohesive force. As for the distraction, I think before company put this in to practice, they would pay great attention in deciding which employees are suitable for this task, it obvious that those in the list absolutely have strong responsibility, self-discipline, and well-organized ability, besides theses, company would also have such kind program to train employees how to keep business secrets, moreover, it’ doubtless that company keep updating its own data protection system regularly to guarantee business security even without telecommuting, and this problem now can be controlled by telecomputer which has no memory function, yet can check work attendance and keep data secrecy.
In conclusion, at present society, there is an increasing number of employees who hope for a better work condition, meanwhile, can help them to save time, fees, and can improve life quality and work productivity. Telecommuting can achieve those objectives, however, along with its drawbacks. Company actually can layout a series of measures to minimise the impact and maximise the benefits for staff and company, as well as the society in term of transportation, resources, and air quality, now this kind of economical working model plays a crucial role in some companies and society which are affected by financial crisis. In western countries, over 40% corporations including P&G, Xerox, HP, adopted telecommuting, in Japan, Hitachi, Fujifilm, Mitsubishi also reform their working systems to varying degrees, and in developing counties, there are spring out many companies that put telecommuting into practice on a trial basis, consequently, telecommuting will become a trend of working in the near future.
Reference: Nilles, Jack M., Managing Telework: Options for Managing the Virtual Workforce, John Wiley & Sons 1998, ISBN 0-471-29316-4
Leonhard, Woody, The Underground Guide to Telecommuting, Addison-Wesley 1995, ISBN 0-201-48343-2
Kate Lister, Tom Harnish, Undress for success, the naked truth about making money at home
Katherine Lewis, What are the disadvantages of telecommuting?
http://www.referenceforbusiness.com/small/Sm-Z/Telecommuting.html
Telecommuting makes work better
Taking your favorite work to home is just what daily commuters hope for, the flexibility in working place, time and schedule that telecommuting provides enable them no need to follow nine-to-five routine, and make their work more enjoyable. The technology in early 1970s brought telecommuting into being; satellite and computer were connected by using telephone lines as dumb terminals (a terminal with no independent processing ability of its own which can only carry out operations when connected to a computer, ICIBA interpretation). By the early 1980s, the sub-offices and workers could use personal computer access to company mainframe which enabled people work from home. With the proliferation of internet, the number of people who telecommute increase steadily, and it gradually become a trend, it’s estimated that about 11billion workers working from home in USA by the year of 2009, but in the meantime, this progress also attended by many questions, one of which is whether the advantages that telecommuting brings to company and staff exceed its disadvantages has been the hot issue ,In this essay, firstly, I will analysis its strength and weakness, and then make comparison on two sides. In my view, it can bring numerous benefits for both.
According to the survey conducted by CDW-G, an outstanding information provider technology, about 2/3 interviewed people want to telecommute, and the reasons are: to get rid of commute, to achieve work-life balance, and also to save money, and telecommuting can bring these benefits to people. The article reveals that telecommuting can help people who work in New York City save 6 years during the track of 40-year working, an ordinary worker in USA wasters about 4 years on working back and forth, and actually four years can be spent on their family, interests, even on work. It’s also indicate that the most obvious benefit of telecommuting is increased flexibility; it offers e-worker more freedom to handle family things, and an overwhelming percentage of 90% e-workers feel happy with the life that telecommuting provides them. Moreover, research shows telecommuters are more productive than their office colleagues, and 40% surveyed e-workers said they’re more productive at home. Besides these, one typical e-worker can save $7,000- $17,000 a year. In short, telecommuting has many advantages, and it can improve workers' life quality and work productivity.
The above survey shows how many people want to work from home, then analysis the probable reasons, and the content supports my view of what benefits staff can get from telecommuting from 3 aspects. In the first place, the data that CDW-G provides can be authoritative for it’s an outstanding technology; it shows people’s desire of telecommuting, and other study figures are evident and persuasive enough. In addition, author gives detailed information to support his opinion, for example, the first reason is people want to get rid of commute, the author interprets it from another angle which is the time wasted on commuter can be spent on other things. Further more, and it has an all-round view which can complement my opinion, for instant, in my view, flexibility just means the e-worker can enjoy flexible working condition and schedules, but in this article, it means the whole family can enjoy, because e-worker can schedule their work according to family, such as, send kids to school, and make meals.
Though Telecommuting seems perfect, when you work from home, you’re separate from not the worst parts of work (no disgusting bus, no dash to work, no one to supervise you), but also the best parts, associated with the feeling of isolation and low self-discipline for the staff, and diminished productivity, business information exposure for the company. Isolation is the number one disadvantages, because e-workers don’t have colleagues to share professional ideas, to cooperate with each other. In the long run, lack of involvement in the team, isolation will take place, and also they will lose the moral, motivation, and inspiration which will lead to low productivity. And when e-workers work from home, they may easily disturbed by the surroundings, either because of the distraction from the family or their own ability to focus on jobs which will give rise to low self-discipline. In addition, telecommuters’ every connection to data base may threaten the network security of the company. In brief, when people benefit from telecommuting, at the same time, it brings about potential damage to individual, company, and the culture of which will be challenged.
It’s true that these problems would rise if a company doesn’t deal with telecommuting properly, but I still don’t entirely agree with those points, to begin with, when a company want to carry out telecommuting and to ensure employees working from home successfully, they should at least be aware of these disadvantages. In the second place, isolation could be a problem, but it can cultivate their ability to work independently, and if everyone fulfills his own task, the productivity actually will be improved. Company can make a schedule how often need e-workers to have business meetings, lunches, or even sports competitions to enhance company’s cohesive force. As for the distraction, I think before company put this in to practice, they would pay great attention in deciding which employees are suitable for this task, it obvious that those in the list absolutely have strong responsibility, self-discipline, and well-organized ability, besides theses, company would also have such kind program to train employees how to keep business secrets, moreover, it’ doubtless that company keep updating its own data protection system regularly to guarantee business security even without telecommuting, and this problem now can be controlled by telecomputer which has no memory function, yet can check work attendance and keep data secrecy.
In conclusion, at present society, there is an increasing number of employees who hope for a better work condition, meanwhile, can help them to save time, fees, and can improve life quality and work productivity. Telecommuting can achieve those objectives, however, along with its drawbacks. Company actually can layout a series of measures to minimise the impact and maximise the benefits for staff and company, as well as the society in term of transportation, resources, and air quality, now this kind of economical working model plays a crucial role in some companies and society which are affected by financial crisis. In western countries, over 40% corporations including P&G, Xerox, HP, adopted telecommuting, in Japan, Hitachi, Fujifilm, Mitsubishi also reform their working systems to varying degrees, and in developing counties, there are spring out many companies that put telecommuting into practice on a trial basis, consequently, telecommuting will become a trend of working in the near future.
Reference: Nilles, Jack M., Managing Telework: Options for Managing the Virtual Workforce, John Wiley & Sons 1998, ISBN 0-471-29316-4
Leonhard, Woody, The Underground Guide to Telecommuting, Addison-Wesley 1995, ISBN 0-201-48343-2
Kate Lister, Tom Harnish, Undress for success, the naked truth about making money at home
Katherine Lewis, What are the disadvantages of telecommuting?
http://www.referenceforbusiness.com/small/Sm-Z/Telecommuting.html
Eileen - reference
Some people insisit that advertising has positive impact on the society. While other think it also negative influence.
http://encyclopedia.jrank.org/articles/pages/6414/Advertising-Effects.html
http://www.psyarticles.com/emotion/advertising-message.htm
http://en.wikipedia.org/wiki/Advertising
http://encyclopedia.jrank.org/articles/pages/6414/Advertising-Effects.html
http://www.psyarticles.com/emotion/advertising-message.htm
http://en.wikipedia.org/wiki/Advertising
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