Free Essays on Pan Africanism

Dish Africanism is different developments in Africa that have as their shared objective the solidarity of Africans and the end of imperialism and racial domination from the landmass. Be that as it may, on the extension and importance of Pan-Africanism, including such issues as initiative, political direction, and national rather than territorial interests, they are generally, frequently sharply, separated. One impetus for the quick and across the board advancement of Pan-Africanism was the colonization of the mainland by European forces in the late nineteenth penny. The First Pan-African Congress, met in London in 1900, was trailed by others in Paris (1919), London and Brussels (1921), London and Lisbon (1923), and New York City (1927). These congresses composed essentially by W. E. B. DuBois and gone to by the North American and West Indian dark intellectual elite, didn't propose quick African autonomy; they supported continuous self-government and interracialism. In 1944, a few Afr ican associations in London joined to frame the Pan-African Federation, which just because requested African self-rule and freedom. The Federation gathered (1945) in Manchester the Sixth Pan-African Congress, which included such future political figures as Jomo Kenyatta from Kenya, Kwame Nkrumah from the Gold Coast, S. L. Akintola from Nigeria, Wallace Johnson from Sierra Leone, and Ralph Armattoe from Togo. While at the Manchester congress, Nkrumah established the West African National Secretariat to advance a supposed United States of Africa. Container Africanism as an intergovernmental development was propelled in 1958 with the First Conference of Independent African States in Accra, Ghana. Ghana and Liberia were the main sub-Saharan nations spoke to; the rest of Arab and Muslim. From that point, as autonomy was accomplished by progressively African states, different translations of Pan-Africanism rose, including: the Union of African States (1960), the African States of the Casablanca C... Free Essays on Pan Africanism Free Essays on Pan Africanism Container Africanism is different developments in Africa that have as their shared objective the solidarity of Africans and the disposal of expansionism and racial oppression from the mainland. Be that as it may, on the extension and importance of Pan-Africanism, including such issues as authority, political direction, and national instead of local interests, they are broadly, regularly sharply, isolated. One impetus for the quick and across the board advancement of Pan-Africanism was the colonization of the mainland by European forces in the late nineteenth penny. The First Pan-African Congress, met in London in 1900, was trailed by others in Paris (1919), London and Brussels (1921), London and Lisbon (1923), and New York City (1927). These congresses composed mainly by W. E. B. DuBois and gone to by the North American and West Indian dark scholarly people, didn't propose prompt African autonomy; they supported progressive self-government and interracialism. In 1944, a few African a ssociations in London joined to shape the Pan-African Federation, which just because requested African self-governance and autonomy. The Federation assembled (1945) in Manchester the Sixth Pan-African Congress, which included such future political figures as Jomo Kenyatta from Kenya, Kwame Nkrumah from the Gold Coast, S. L. Akintola from Nigeria, Wallace Johnson from Sierra Leone, and Ralph Armattoe from Togo. While at the Manchester congress, Nkrumah established the West African National Secretariat to advance a supposed United States of Africa. Skillet Africanism as an intergovernmental development was propelled in 1958 with the First Conference of Independent African States in Accra, Ghana. Ghana and Liberia were the main sub-Saharan nations spoke to; the rest of Arab and Muslim. From that point, as freedom was accomplished by increasingly African states, different translations of Pan-Africanism rose, including: the Union of African States (1960), the African States of the Casablanca C...

Online Student Profile Management System

ONLINE STUDENT PROFILE MANAGEMENT SYSTEM by GREESHMA MALGIREDDY B. Tech. , Jawaharlal Nehru Technological University, 2007 A REPORT submitted in incomplete satisfaction of the prerequisites for the qualification MASTER OF SCIENCE Department of Computing and Information Sciences College of Engineering KANSAS STATE UNIVERSITY Manhattan, Kansas. 2010. Endorsed by: Major Professor Dr. Daniel Andresen. AbstractAll the understudies who are joined up with Computing and Information Sciences (CIS) major in Kansas State University are required to present their Program of Study (POS) which they physically do by filling in all the fundamental subtleties and present the structure to the office. The principle target of this venture is to build up an online accommodation of program of study. The online understudy profile the board framework is an electronic application that gives understudies of CIS major to present their program of study in a simple and proficient manner.This application for the m ost part permits the understudies to enter their own data (viz. , contact data, past training) and to pick center just as non-center courses of their decision. What's more the personnel of CIS office can likewise sign on to the application and view the POS of the understudies by entering their wildcat ID. The essential center is to get acquainted with . NET system and to code in C#. NET. This thus utilizes MS SQL server 2005 as database for putting away and recovering of information. This task is actualized utilizing C#.NET on Microsoft visual studio 2005. List of chapters List of Figures †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ v List of Tables †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ vi Acknowledgments †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. vii CHAPTER 1-†¦ [continues]

diversity in organizations

decent variety in associations Presentation This paper expects to show a profound assessment of how decent variety is deciphered and unfairly applied in numerous associations today. In this exposition, I would investigate and talk about the term â€Å"Diversity†, its definitions, merits, negative marks, its changed applications and if there is a circumstances and logical results connection between decent variety workforce and authoritative viability. This paper would likewise show why the term decent variety is remotely fulfilling and expound on the requirement for another worldview for getting Diversity. My examination underpins the standards of the Diversity hypothesis yet not its changed applications which hinder authoritative adequacy. Assorted variety The term â€Å"diversity† has discovered its place in practically all HRM writing; the first page. Jackson et al (1993), states that â€Å"the term decent variety includes little history inside the social sciences and isn't (yet) a logical build. Rather, it is an ordinary term that sprang to life rather as of late, sustained by across the board media inclusion of the â€Å"managing diversity† exercises that associations are embracing because of evolving work-power socioeconomics. All things considered, the collection of sociology inquire about applicable to understanding the elements of decent variety in associations isn't huge, in spite of the fact that it is broadly scattered across sub trains that cross reference each other nor have a typical terminology† (See Friedman, 1996:67). Another intriguing definition is found in Ashkanasy et al (2002) which characterizes decent variety as an idea that â€Å"encompasses acknowledgment and regard. It implies the unders tanding that every individual is one of a kind and perceiving our individual contrasts. They can be along the elements of race, ethnicity, sex, sexual direction, financial status, age, physical capacities, strict convictions, political convictions and different belief systems and the investigation of these distinctions in a protected, positive and supporting condition. Decent variety is tied in with seeing one another and moving past basic resilience to grasping and praising the rich elements of assorted variety contained inside each individual† Allen et al (2008) attests that decent variety is a test and that â€Å"organizations have battled to grasp and oversee it effectively. Scientists have attempted to conceptualize and examine the term viably. Scholars anticipate varying impacts of Diversity: that they will start integrative bits of knowledge, imagination and advancement (for example Finkelstein and Hambrick, 1996; Hoffman and Maier, 1961) or that they will incite struggle, division and disintegration (for example Chatman, 1991; Tajfel and Turner, 1979)†. Workforce Diversity (A Critical Analysis) Basic Diversity Vs Demographic Diversity â€Å"The socioeconomics of the workforce are changing and will keep on evolving quickly. Pretty much every association appears to be unique †both as far as who’s utilized and they positions they hold, than it completed ten years ago† (Sonnenschien, 1999:2). Jackson et al (1995) additionally states that the â€Å"changing work-power socioeconomics and new hierarchical structures are expanding the assorted variety of work groups by and large and dynamic groups specifically. Given these ecological changes, work groups that are assorted as far as sex, race, and ethnicity, national birthplace, specialized topic, hierarchical connection and numerous other individual qualities are progressively normal. The changing socioeconomics of today’s work power, represent the expanding sexual orientation assorted variety, social decent variety (counting social contrasts because of race and ethnicity) and age decent variety (See Kling, Hyde, Showers and Buswell, 1999; Konra d, Ritchie, Lieb and Corrigall, 2000; Roberson and Block, 2001)†. As per Ongari and Argolla (2007) â€Å"Workforce decent variety is an unpredictable marvel to oversee in an association. The administration of workforce decent variety as an instrument to increment authoritative adequacy can't be underscored, particularly with current changes clearing over the globe. It is contended that associations that esteem decent variety will develop achievement and have a future in this powerful worldwide work advertise (Jain and Verma, 1996). Workforce decent variety the board has become a significant issue for the two governments and private associations. Its significance has for the most part been realized by the free development of work because of globalization and the battle for human rights by certain minority bunches who feel barred from the business segment. The workforce assorted variety rose primarily to promote the accessibility of equivalent open doors in the work place. This equivalent open door theory is planned for guaranteeing that hierarchica l make the most out of the distinction from a different workforce as opposed to losing ability which may help the association to be progressively productive and powerful. The expanded versatility and communication of individuals from differing foundations because of improved financial and political frameworks and the acknowledgment of human rights by all countries has put most associations constrained to grasp assorted variety at the work place. Decent variety carries with it the heterogeneity that should be sustained, developed and acknowledged as methods for expanding hierarchical effectiveness†. A progressively assorted workforce as per Thomas and Ely (1996) will increment authoritative adequacy. â€Å"It would lift assurance, carry more noteworthy access to new sections of the commercial center and improve efficiency. However on the off chance that this is valid, what at that point are the positive effects of decent variety? Various and differed activities to expand assorted variety in corporate associations have been in progress for over a decade† (Sonnenschein, 1992:49). â€Å"Rarely, be that as it may, have those endeavors prodded authoritative adequacy, Instead, numerous endeavors to expand decent variety in the work environment have reverse discharges, in some cases in any event, elevating and ruining a company’s performance† (Tsui and Gutek, 1999). As is normally attributed, Riodan (2000) affirms the vast majority expect that workforce â€Å"diversity is tied in with expanding racial, national, sex or class portrayal as it were, selecting and holding a great many people from customarily underrepresented character groups†. Accepting this generally held notion as a beginning stage, Thomas and Ely (1996) set out to explore the connection among decent variety and authoritative viability and they found that â€Å"thinking of assorted variety basically as far as distinguishing bunch portrayals hindered effectiveness†. They likewise found that associations typically follow â€Å"two ways in overseeing assorted variety, for the sake of sympathy and reasonableness, the associations support ladies and ethnic minorities to mix in or they set them apart in occupations that relate explicitly to their experiences, doling out them, for instance to zones that expect them to interface with customers and clients of a similar chara cter group†. In this sort of case, organizations are working on the supposition that the fundamental prudence character bunches bring to the table is information on their own kin. â€Å"This supposition that is constrained and unfavorable to assorted variety efforts† â€Å"(See Elsass Graves, 1997; Finkelstein Hambrick, 1996; Jackson, May and Whitney, 1995; Milliken Martins, 1996; Reskin, McBrier Kmec, 1999; Shaw Barrett Power, 1998)† An ongoing meta-examination of the impacts of undertaking related (for example residency) and non task related (for example ethnic and sexual orientation) assorted variety, by Weber Donahue (2001) â€Å"revealed no trustworthy consequences for authoritative viability, execution or cohesiveness†. Williams and O’Reilly (1998) affirm that â€Å"diversity goes past expanding the quantity of various character groups’ affiliations† in an organization however that assorted variety ought to be seen and â€Å"understood as the changed viewpoints and ways to deal with work that individuals from various personality bunches bring†. Another contention is by Cummings (2004) which says that â€Å"effective work bunches take part in outer information sharing-the trading of data, know-how and input with clients, authoritative specialists and others outside the gathering. This paper contends that the estimation of outer information sharing increments when work bunches are basically diverse†. â€Å"A basically assorted work bunch is one in which the individuals, by ethicalness of their diverse authoritative affiliations, jobs or positions, can open the gathering to exceptional wellsprings of information. It is guessed that if individuals from fundamentally assorted work bunches take part in outer information sharing, their exhibition will improve on account of this dynamic trade of information through one of a kind outside sources†. Cummings (2004) likewise state that â€Å"scholars analyzing assorted variety in work bunches have essentially centered around the outcomes of segment decent variety (for example part contrasts in sex, age, or residency) for procedures, for example, correspondence, strife, or social integration† ( See likewise Jehn et al, 1999, Pelled et al, 1999 and O’Reilly et al, 1989). â€Å"The reliably negative impacts of segment assorted variety on bunch forms are likely the consequence of elevated part accentuation on social classes as opposed to extend important data. Segment decent variety ought not build the estimation of intra-bunch information sharing or outer information sharing except if it opens individuals to one of a kind wellsprings of information identified with the work† (for an audit see Williams and O’Reilly. 1998). Generally, â€Å"little consideration has been given to part contrasts in hierarchical affiliations, jobs or positions. With the ascent in labor costs, worldwide development and corporate mergers, workgroups are frequently utilized as a methods for interfacing individuals who are scattered across various geographic areas, who speak to various capacities and report to

Managing Multicultural Fet College - Free Essay Example

LEADERSHIP AND CHANGE MANAGEMENT Student Name: S. Z. Zungu Student Number:15931838 Lecturer(s):Prof. Erwin Schwella Dr Belinda Ketel Institution:School of Public Management and Planning – University of Stellenbosch Managing a Multicultural FET College Abstract The Further Education and Training (FET) Colleges have gone through a big merger process where 152 colleges were reduced to only 50 colleges in 2001. This change was brought by the promulgation of the new legislation that further necessitated changes in both roles and functions of colleges. The merger process called for the integration of people from diverse cultural backgrounds. This posed a big challenge towards the leadership and management of these colleges. The top management of these colleges is now faced with the complex and diverse leadership and change management issues. Originally, some of these colleges had predominantly white staff members and others had predominantly black staff members. The merger process then brought these different cultures together to function under one roof. For the purpose of this paper, our discussions will reflect the leadership and change management challenges faced by the management of Umfolozi FET College situated in the Northern-East of KZN. Subsequently, the paper will discuss some theoretical aspects relating to the issue of diversity within the college environment. Finally, the paper will then make recommendations as to what leadership implications there are in order to deal with diversity. 1. Introduction Managing a multicultural workforce poses a complex challenges in both leadership and management style of the organisation. The challenges are mainly attributable to the different views on how to deal with a culturally diverse workforce as well as our deep understanding of the meaning of such cultures. Cascio (1995:67) defines culture as â€Å"the characteristics behaviour of people in a country or region†. Culture forces people to behave in a certain manner that distinguishes them from other people. Culture is also defined as â€Å"the enduring norms, values, customs, and behavioural patterns common to a particular group of people† (Mayer, 2000: 72). When people move to other parts of the world, region or work environment, they tend to retain their cultures. It then becomes a challenge to bring these people from such diverse cultural backgrounds to work effectively together without any prejudice by one culture against other cultures. Umfolozi FET College is not immune to these challenges, as it also comprises of people from a multicultural backgrounds. One then needs to begin by looking at what necessitated this multicultural organisation. Cascio (1995: 62) identifies â€Å"five reasons why diversity has become a dominant activity in managing an organisation’s human resources: (i) the shift from a manufacturing to a service economy; (ii) globalization of markets; (iii) new business strategies that require more teamwork; (iv) mergers and alliances that require different corporate cultures to work together; and (v) the changing labour market†. It is against this backdrop that the multiculturalism at Umfolozi College came into being as a result of the fourth reason. In 2001, twenty-four Technical Colleges in KZN merged into only nine Further Education and Training (FET) Colleges. This move came as a result of the new legislation that called for the merger of the 152 Technical Colleges into 50 FET Colleges in the country. The merger process necessitated the birth of Umfolozi FET College that comprises of the Richtek Technical College, Eshowe and Esikhawini Teacher Training Colleges, Mandini Technical College, as well s eight skills training centres. The Richtek Technical Training College comprised of the predominantly white staff whilst the other sites had predominantly black staff members. This obviously posed a big leadership and management challenge to the college, as it had to try to work with this heterogeneous workforce. It also called for the understanding and redefining the newly merged organisational culture as well as embarking on the change process. A multicultural leader who is prepared to accept and implement change is the only one that can execute such transformation. Dubrin (2007: 426) defines a multicultural leader a â€Å"leader with skills and attitudes to relate effectively to and motivate people across race, gender, age, social attitudes, and lifestyles†. The attitudes and skills defined by Dubrin (2007) help to promote and protect the various cultures, religions, and languages in the multicultural work environment. Unfortunately, fostering such mutual respect and harmony has its own challenges. The next section will then examine the challenges posed by this multicultural workforce environment. However, for the purpose of this paper, we will focus only on the five challenges although we have many of them in the college work environment. 2. Challenges with a Multicultural FET College The integration of various campuses into one college has not been well received by some of the staff members who were not comfortable in mixing with people from other cultures. The first challenge is that of a language barrier. Language became the first barrier to effective communication and subsequently leading to the formation of cliques within the college environment. Although South Africa has eleven official languages, but certain campuses within the college resist accommodating other languages. At the Richtek Campus for an example, Afrikaans is the dominating language. Meetings, communication either verbal or written is done in Afrikaans. This phenomenon excludes all those who do not speak or understand the language. Those employees who are excluded do not participate in constructive discussions or meetings due to language barrier. The exclusion of employees in accessing certain information may also result in poor performance by those who are excluded. On the other hand, all skills campuses use IsiZulu as their preferred language. They also resist using other languages during meetings or correspondences. In certain instances, this matter has led to some conflict situations due to the lack of tolerance for each other’s language. The second challenge is the resistance to change whereby certain employees refuse to change and believe in doing things the way it has always been done in the past. The FET Colleges had to change their programme offerings from the old Nated Programmes (N1 – N6) and replace them with the new National Certificate (Vocational). The majority of the college staff members were so used to teaching the old programmes and changing to new programmes became a challenge. This inhibits progress in teaching and learning, as a result the throughput rate of the college exams has dropped drastically. The other form of resistance to change is based on gender where males feel as if they are the dominant force when it comes to decision making. The college environment also experiences a lot of religion-based resistance where the majority of employees are Christians and thus tend to discriminate against those who belong to other forms of religion. The other form of resistance is based on ethnocentrism where certain groups perceive their culture to be superior to all other cultures in the college work environment. The third challenge is that of implementing the legislated decisions such as the employment equity act as well as the affirmative action policy. The Employment Equity Act â€Å"aims to achieve equity in the workplace by promoting equal opportunities and fair treatment in employment through the elimination of unfair discrimination and implementing affirmative action measures to redress the disadvantages in employment experienced by designated groups (Africans, coloureds, Asians, women and people with disabilities) to ensure that their equitable representation in all occupational categories and levels in the workplace† ( Grobler et al. , 2006: 85). There seem to be high level of resistance especially by the white males ho feel that these policies are like reversed discrimination against them. Their argument is that these policies purposefully exclude them from any potential employment opportunities. The fourth challenge is based on stereotypes and preconceptions where college employees identify a certain group within the college work environment and judging the group as collective and not treating individuals within the group on their own merits. Grobler et al. (2006: 77) defines stereotype as a â€Å"fixed, distorted generalization about the members of a group†. Assumptions are thus made about certain group of employees and they are labeled in a certain way and forgetting that individuals exist on their own. This has resulted in low morale and reduced motivation for staff. Some employees treat their colleagues as subordinates although they happen to be at the same level of authority. In some instances, managers do not want to promote employees who belong to a particular group that is perceived to be of high risk or lowering the standards. The last challenge identified at the college is that of unwritten rules that applies to certain employees within the same organisation. This leads to double standards being applied to a certain sections and not throughout the college. One good example is that of the academic staff development and training which most of the time leave out the support staff. The college constantly train and develop its entire academic staff and tends to neglect those who are fulfilling the support roles in the college. Within the college again, we find that staff members who work at the four main campuses enjoy more privileges than those working in the skills campuses. The main campuses are perceived to be superior to the skills campuses. This is a clear indication that the playing field is not always leveled when it comes to the application of rules. There seem to be no clear-cut rules as to how to handle the issues of staff development in the most fair and equitable manner. 3. Benefits of managed Multicultural FET College One of the benefits of managing workplace diversity is that it encourages employees to be more creative and innovative. Employees find new ways or methods of dealing with certain work related issues. They also learn creative and innovative ways of working with one another regardless of their cultural backgrounds. There is also big pool of creative minds being brought to work for a common cause. This can also create a range of skills that the college that were previously absent. The other benefit is that it enhances marketing and reduces cross-cultural difference in the behaviour of consumers. This is supported by Dubrin (2007: 421) that â€Å"a key factor is that a multicultural group of decision makers may be at an advantage in reaching a multicultural market†¦one member of multicultural group may be able to focus a marketing strategy to demonstrate an appreciation of the targeted audience†. This has been done at the various campuses where multicultural groups contributed in drafting the marketing strategy fro the college and it has already paid dividends. Employees are also encouraged to come to work and thus reducing both the absenteeism and turnover rates. According to Dubrin (2007: 421), â€Å"more effective management of diversity may increase the job satisfaction of diverse groups, thus decreasing turnover and absenteeism and their associated costs†. It is common knowledge that when employees are treated fairly without being discriminated on any bases, their place of work becomes their second home. They remain committed toward their employer and thus reducing the chances of looking for greener pastures. The college can also offer more flexible and market responsive programmes to its clients. This can be possible if employees are allowed to use their diverse backgrounds and talents in coming up with some fresh ideas to improve service delivery. Improved service delivery may also help in attracting investments from both private and public sector to the college. This will in turn assist the college in reaching out to more communities and subsequently help in addressing the country’s national imperatives. 4. Multicultural theoretical foundation A multicultural organisation is defined as an organisation â€Å"that has achieved high levels of diversity, is able to fully capitalize on the advantages of diversity, and has few diversity-related problems† (Griffin, 1996: 432). This statement is also supported by Jackson and Hardiman (1981) in Pope (1993: 203) in that â€Å"a multicultural organisation reflects the contribution and interest of diverse cultural and social groups in its mission, operations, and product or service delivery; acts on commitment to eradicate social oppression in all forms within the organisation; includes the members of diverse cultural and social groups as full participants, especially in decisions that shape the organisation; and follows through on broader external social responsibilities, including support of efforts to eliminate all forms of social oppression and to educate others in multicultural perspective†. On the other hand, Pope (1993:201) argues that â€Å"at times the word ‘multicultural’ is used synonymously with the word ‘multiracial’ referring only to racial and /or ethnicity diversity†¦. other times it used more inclusively to cover such diverse groups as students of colour, gay, lesbian, and bisexual students, international students, students with disabilities, and students with a variety of religious beliefs, dominations, or preferences†. One may then argue whether an organisation can be truly multicultural. The second argument will be what tool is used to measure multiculturalism in an organisation. Griffin (1996: 433) provides us with answers to both questions raised in that â€Å"few, if any, organisations have become truly multicultural†¦ at the same time, more and more organisations are moving in this direction†¦when an organisation becomes multicultural, it reflects the six basic characteristics of such an organisation†. These characteristics can be used to gauge the state of readiness for the organisation whether it is a multicultural organisation. Griffin (1996: 435) argues that â€Å"the major dimensions that characterize organisations as they eventually achieve this state are pluralism, full structural integration, full integration of the informal network, an absence of prejudice and discrimination, no gap in organisational identification based n cultural identity group, and low levels of intergroup conflict attributable to diversity†. Pluralism encourages each identifiable group in the organisation to work hard in learning about other groups wit hin the same organisation. This helps in understanding other people’s culture and respecting such cultures. According to Griffin (1996: 433), full structural integration â€Å"suggests that the diversity within an organisation is a complete and accurate reflection of the organisation’s external labour market†. The full integration of the informal network helps the organisation to eliminate â€Å"barriers to entry and participation in an organisation† (Griffin, 1996: 433). The other characteristic is that of absence of prejudice and discrimination that suggests that â€Å"no traces of bias exist, and prejudice is eliminated† (Griffin, 1996: 433). It has already been argued by Griffin (1996) that only few organisations will reflect all six characteristics due to some barriers that might be caused by failure of senior leadership or management of those organisations to get involved as well as understanding the need of managing diversity. 5. Dealing with a Multicultural FET College: Implications for Leaders and Managers Dealing with a diverse workforce may be challenging and daunting to many leaders and managers. However, there are various ways of ensuring that an organisation becomes truly multicultural. Leaders and managers need to ensure that discrimination is eliminated at all cost in the work environment. They need to ensure that fair treatment is always applied in dealing with issues affecting their employees. The application of legislation needs to be done without any double standards. Human (2001: 5) argues that â€Å"when we begin to understand what diversity management is really about, we begin to see that effective diversity management underpins what most business people would argue makes sound business sense: judging and managing individuals on the basis of clearly specified job-related and performance-related criteria, in a business culture which incorporates as much opportunity for individuals to express mportant aspects of themselves as reasonably possible; for example, linguistic, religious, dietary and domestic variations†. We therefore need to give recognition to opportunities presented by having a diverse workforce. Whilst it might be challenging, but there s eem to be more positives associated with a managed diverse workforce. On the other hand, Dubrin (2007: 436) suggests six ways of achieving a multicultural work environment: â€Å"(i) hold managers accountable for achieving diversity; (ii) establish minority recruitment, retention, and mentoring programs; (iii) conduct diversity training; (iv) conduct intercultural training; (v) encourage the development of employee networks; and (vi) avoid group characteristics when hiring for person-organisation fit†. This is supported by Cascio (1995: 83) that â€Å"to maximize the potential of all members of the workforce, link concerns for diversity to every business strategy: recruitment, selection, placement, succession planning, performance appraisal, and rewards†. Leaders need to adopt the concept of transformational leadership through presenting a compelling case for change where they demonstrate verbally and in writing that they are committed to change. As transformational leaders, they also need to accept and create strategies of dealing with resistance to change by facilitating ownership in the change process. They also need to empower themselves as well as others by creating an enabling environment for all employees without discrimination or favouritism. Griffin (1996: 435) suggests that â€Å"managing diversity in an organisation can be done by both individuals and the organisation itself†¦individual approaches include empathy, tolerance, and willingness to communicate†¦organisational approaches are through policies, practices, diversity training, and culture†. 6. Conclusion After having examined the concept of creating a multicultural college, one can therefore conclude that it poses many challenges for both leaders and managers. However, despite those challenges, leaders and mangers can actually convert those challenges into opportunities for their organisations. There needs to be an understanding as to why it is so important for an organisation to do diversity training with all its employees including management. Leaders and managers also need to develop an understanding of what is stereotyping and its impact thereof in the workplace. There are also various methods in implementing diversity in the workplace in order to create a environment conducive for all employees. Leaders need to create an atmosphere where all employees recognise that individuals are different and shall be treated as such. Diversity needs to be managed effectively in order to yield good results, if not it might become detrimental to the success of any organisation. Diversity underpins leaders and managers dealings with their employees, clients and the public at large. Through effective diversity management, the organisation can attract the most skillful employees that can assist in improving service delivery. With improved service delivery, more clients can be attracted and reached. Each employee needs to be given an opportunity to demonstrate his or her individual talent. This will enhance creativity and innovation and subsequently help the organisation in gaining competitive advantage an effective service. Leaders and management need to ensure that all employees are treated fairly and equitably in as far as recruitment, training, and promotions are concerned. This shall be done regardless of race, gender, religion, culture, or disability. REFERENCES Cascio, W. F. 1995. Managing Human Resources. 4th Ed. McGraw-Hill, Inc. , USA. Dubrin, A. J. 2007. Leadership – Research Findings, Practice, and Skills. Houghton Mifflin Company, Boston. Griffin, R. W. 1996. Management. 5th Ed. Houghton Mifflin Company, Boston. Grobler, P. , Warnich, S. , Carrell, M. R. , Elbert, N. F. , Hartfield, R. D. Human Resource Management in South Africa. 3rd Ed. Human, L. PEOPLE DYNAMICS: Winning at the diversity game. Vol. 19 No. 8, September 2001. Mayer, B. The dynamics of conflict resolution: A practitioner’s guide. San Francisco. Jossey-Bass, Inc. , A Wiley Company. Pope, R. L. 1993. Multicultural-Organisation Development in Student Affairs: An Introduction. Journal of College Student Development, May 1993, Vol. 34: 201- 205

Study On Mortgage Lending Patterns In China - Free Essay Example

Sample details Pages: 9 Words: 2571 Downloads: 7 Date added: 2017/06/26 Category Finance Essay Type Essay any type Did you like this example? Introduction Objective Why study this issue organisation of the dissertation With Chinas rapid economic development, urbanization advance, driven by domestic demand and improved living standards, the residentsà ¢Ã¢â€š ¬Ã¢â€ž ¢ demand for housing improvement has been increasing. In the foreseeable future, China will have a thriving real estate development space and potential. Financial support is necessary for real estate development, especially housing mortgage loans. Don’t waste time! Our writers will create an original "Study On Mortgage Lending Patterns In China" essay for you Create order For Commercial Banks in China, this is a huge cake and cheese. The one with best risk-management abilities and tools will be able to gain more market share. This dissertation take China Merchants Bank as case study on the design, methods, processes, data, development and verification of housing mortgage loans scoring card, propose home mortgage loans scorecard model, and be used effective and widely. Literature Review à ¢Ã¢â€š ¬Ã¢â‚¬Å" Credit Scoring/Sub-prime crisis Mortgage contracts/types of mortgages Credit Scoring technologies are used to control levels of default within american consumer credit. And such technologies have been involved with its own methodological, procedural and temporal risks. And periodic renewal of models and constant reappraisal of methods and procedures are required in accessing the risk. Through testing a diffusion model of techbology adoption for the financial services industry, we find that banking organizations that are more centralized in their organizational structure and those located in the New York Federal Reserve district adpted small business credit scoring before their peers. The former is due to the influence of organizational structure on technology adoption, and the latter is consistent with theories of geography-dependent innovation diffusion. Race is influential to the mortgage lending disicion in USA. However, it is not important in China. Profession and income level have greater effect on the probability of getting the loan. I will dev elop another critiria to understand the pattern in China based on the study of à ¢Ã¢â€š ¬Ã…“Understanding Mortgage Lending Patternsà ¢Ã¢â€š ¬? by Issac F. Megbolugbe. Background of mortgage lending in China Strong growth in Chinas housing markets. The housing mortgage in China is not very old in comparison to others. Credit Scoring system in China Merchants Bank Comparison with UK/US credit scoring system just for one bank à ¦Ã¢â‚¬ ¹Ã¢â‚¬ ºÃƒ ¥Ã¢â‚¬ ¢Ã¢â‚¬  Ãƒ ©Ã¢â‚¬Å" ¶Ãƒ ¨Ã‚ ¡Ã…’à ¦Ã‹Å" ¯Ãƒ ¤Ã‚ ¸Ã‚ ­Ãƒ ¥Ã¢â‚¬ ºÃ‚ ½Ãƒ ¦Ã…“â‚ ¬Ãƒ ¦Ã¢â‚¬â€Ã‚ ©Ãƒ §Ã‚  Ã¢â‚¬ Ãƒ §Ã‚ ©Ã‚ ¶Ãƒ ¥Ã…’à ¥Ã‚ ºÃ¢â‚¬ Ãƒ §Ã¢â‚¬ Ã‚ ¨Ãƒ ¤Ã‚ ¿Ã‚ ¡Ãƒ §Ã¢â‚¬ Ã‚ ¨Ãƒ ¨Ã‚ ¯Ã¢â‚¬Å¾Ãƒ ¥Ã‹â€ Ã¢â‚¬  Ãƒ ¦Ã‚ ¨Ã‚ ¡Ãƒ ¥Ã… ¾Ã¢â‚¬ ¹Ãƒ §Ã… ¡Ã¢â‚¬Å¾Ãƒ ¥Ã¢â‚¬ ¢Ã¢â‚¬  Ãƒ ¤Ã‚ ¸Ã… ¡Ãƒ ©Ã¢â‚¬Å" ¶Ãƒ ¨Ã‚ ¡Ã…’à ¤Ã‚ ¹Ã¢â‚¬ ¹Ãƒ ¤Ã‚ ¸Ã¢â€š ¬Ãƒ £Ã¢â€š ¬Ã¢â‚¬Å¡Ãƒ ¤Ã‚ »Ã… ½2004à ¥Ã‚ ¹Ã‚ ´Ãƒ ¥Ã‚ ¼Ã¢â€š ¬Ãƒ ¥Ã‚ §Ã¢â‚¬ ¹Ãƒ ¯Ã‚ ¼Ã…’à ¦Ã¢â‚¬ ¹Ã¢â‚¬ ºÃƒ ¨Ã‚ ¡Ã…’à ¥Ã‚ °Ã‚ ±Ãƒ ¥Ã‚ ¼Ã¢â€š ¬Ãƒ ¥Ã‚ §Ã¢â‚¬ ¹Ãƒ ¤Ã‚ ºÃ¢â‚¬  Ãƒ ¤Ã‚ ¿Ã‚ ¡Ãƒ §Ã¢â‚¬ Ã‚ ¨Ãƒ ¨Ã‚ ¯Ã¢â‚¬Å¾Ãƒ ¥Ã‹â€ Ã¢â‚¬  Ãƒ ¦Ã‚ ¨Ã‚ ¡Ãƒ ¥Ã… ¾Ã¢â‚¬ ¹Ãƒ §Ã… ¡Ã¢â‚¬Å¾Ãƒ §Ã‚  Ã¢â‚¬ Ãƒ §Ã‚ ©Ã‚ ¶Ãƒ ¯Ã‚ ¼Ã…’2007à ¥Ã‚ ¹Ã‚ ´Ãƒ ¥Ã‚ ¼Ã¢â€š ¬Ãƒ ¥?‘à ¥Ã‚ ®Ã…’à ¦Ã‹â€ ?à ¤Ã‚ ºÃ¢â‚¬  Ãƒ ¥Ã¢â‚¬ ¦Ã‚ ¨Ãƒ ¥Ã¢â‚¬ ºÃ‚ ½Ãƒ ¨Ã…’Æ’Ã ¥Ã¢â‚¬ ºÃ‚ ´Ãƒ ¥Ã¢â‚¬  Ã¢â‚¬ ¦Ãƒ §Ã… ¡Ã¢â‚¬Å¾Ãƒ ¤Ã‚ ½?à ¦Ã‹â€ Ã‚ ¿Ãƒ ¨Ã‚ ´Ã‚ ·Ãƒ ¦Ã‚ ¬Ã‚ ¾Ãƒ §Ã¢â‚¬ Ã‚ 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¯Ã¢â‚¬Å¾Ãƒ ¥Ã‹â€ Ã¢â‚¬  Ãƒ ¦Ã‚ ¨Ã‚ ¡Ãƒ ¥Ã… ¾Ã¢â‚¬ ¹Ãƒ ¥Ã…“ ¨Ãƒ ¥Ã¢â‚¬  Ã¢â‚¬ ¦Ãƒ §Ã… ¡Ã¢â‚¬Å¾Ãƒ ¤Ã‚ ¸Ã¢â€š ¬Ãƒ §Ã‚ ³Ã‚ »Ãƒ ¥Ã‹â€ Ã¢â‚¬â€Ãƒ ¥Ã‚ ºÃ¢â‚¬ Ãƒ §Ã¢â‚¬ Ã‚ ¨Ãƒ ¦Ã‚ ¨Ã‚ ¡Ã ƒ ¥Ã… ¾Ã¢â‚¬ ¹Ãƒ ¯Ã‚ ¼Ã…’à ¤Ã‚ ½Ã¢â‚¬  Ãƒ ¥Ã…“ ¨Ãƒ ¦Ã‚ ¨Ã‚ ¡Ãƒ ¥Ã… ¾Ã¢â‚¬ ¹Ãƒ ¥Ã‚ ®Ã… ¾Ãƒ ©Ã¢â€ž ¢Ã¢â‚¬ ¦Ãƒ ¥Ã…’à ¦Ã¢â‚¬ ¢Ã‚ °Ãƒ ¦? ®Ãƒ ¦Ã¢â‚¬ Ã‚ ¶Ãƒ ©Ã¢â‚¬ ºÃ¢â‚¬  Ãƒ ¦Ã¢â‚¬â€œÃ‚ ¹Ãƒ ©? ¢Ãƒ ¨Ã‚ ¿Ã‹Å"à ¥Ã‚ ­Ã‹Å"à ¥Ã…“ ¨Ãƒ ¤Ã‚ ¸Ã¢â€š ¬Ãƒ ¤Ã‚ ºÃ¢â‚¬ ºÃƒ ¥Ã‚ ·Ã‚ ®Ãƒ ¥Ã‚ ¼Ã¢â‚¬Å¡Ãƒ ¥Ã…’à ¤Ã‚ ¸?à ¨Ã‚ ¶Ã‚ ³Ãƒ £Ã¢â€š ¬Ã¢â‚¬Å¡ China Merchants Bank (hereinafter referred to as à ¢Ã¢â€š ¬Ã…“CMBà ¢Ã¢â€š ¬?) is one of the first bank engaged in studying and adopting credit scoring model in China since 2004. In 2007, CMB developed its mortgage loan application scoring model, and the model was applied countrywide to all its 700 branches next year. In 2009, with the progress of Basel II Accord implementing in Chinese banking industry, CMB developed its application scoring model, behavior scoring model, collection scoring model of mortgage loan, auto loan, personal consumption loan in succession to measure and manage its risk in a more accurate way. As for now, scoring model systems are used in the bank to cover over 95 percent of loan business in retail banking sector through various process including loan application, marketing, pricing, after sale management, default loan collection, etc. CMBà ¢Ã¢â€š ¬Ã¢â€ž ¢s mortgage loan application scoring model uses the same methodology as that in those active European and American banks. By collecting debtorà ¢Ã¢â€š ¬Ã¢â€ž ¢s risk characteristics information, shaping its default definition and performance period, utilizing logistic regression based on 0/1 distribution of dependent variable, using KS statistical analysis to test the modelà ¢Ã¢â€š ¬Ã¢â€ž ¢s predictive capability, the scoring model was finally established. Due to the difference in Chinaà ¢Ã¢â€š ¬Ã¢â€ž ¢s political, economic and cultural environment with western countries, CMBà ¢Ã¢â€š ¬Ã¢â€ž ¢s credit scoring model also differs in its design details from European and American banks. With the relatively short history in studying an d adopting credit scoring model in Chinese banking industry, some shortfalls in date collection was also in existence and will be reflected in the independent risk variables as the result of the credit scoring model. For example, CMB generated different scoring model for different regional segmentation in its model designing period. The reason relies on the unbalanced economical development and different demographical characteristics and risk characteristics through over the country. The risk characteristics like age, income can have totally different impact to the credit scoring model. In some cities, elder applicant represents high income level and stable economic status, thus the possibility of loan default is low. While in some other cities, younger applicant can get financial support from the whole family, thus means lower risk of this type of applicants. However, European banks usually apply only one consistent model in one country. For some small banks, one consistent mode l will be applied even in several countries due to the lack of adequate sample date and similar economic and cultural environment. Another example is that the demographical information in CMB sample data is not so credible as that for Western Banksà ¢Ã¢â€š ¬Ã¢â€ž ¢. Most of the demographical information in CMB data comes from the application form which is filled out by applicants themselves. Some demographical information, like income, marital status, could not be verified through any official credit agency. In some occasions, applicants may exaggerate their income level or distort their marital status to meet the credit approval requirement of the bank. So the authenticity of the date could not guaranteed, and the bank must use those information cautiously. The relationship manager of the bank always need to assess their customersà ¢Ã¢â€š ¬Ã¢â€ž ¢ risk level by using the tools bank provided or with their own experience, but the assessment result are usually not quantitative ou tput and can not be used in building the credit scoring models. While for European and American banks, the authoritative credit agencies provided a transparent and credible information environment. Banks can cheaply and conveniently access to the credit agencies for demographical information of applicants, including age, dwelling address, telephone number, period in current employment, household income, other outstanding loan, default record and tax information, and those electric information can be downloaded and integrated into the banksà ¢Ã¢â€š ¬Ã¢â€ž ¢ database system for the purpose of building the credit scoring model. To compare the credit scoring model development process in CMB and CITI Bank of USA, (hereinafter referred to as à ¢Ã¢â€š ¬Ã…“CITIà ¢Ã¢â€š ¬?), we found the same basic methodology are adopted, both banks using logistic regression to create their mortgage application scoring models, the default definition and performance period are quite close, and KS tes ting, out-of-sample testing and cross-time testing are all applied to validate the modelà ¢Ã¢â€š ¬Ã¢â€ž ¢s effectiveness. The main discrepancy rest with the date sample date sector and can be sorted as follows: Firstly, the sample date is easily accessible from credit agencies for Citi bank, and the bank use extensively those date in its model building process. There are more than 1000 credit agencies in USA and mostly of them are subjected to three most authoritative credit agencies: Experian, TransUnion and Equifax. Citi bank receives credit information both directly from Experian and from their outsourcing credit enquiry companies in Georgia and South Dakota. But for Chinese banks, including CMB, the one and only credit information channel is the PBOC(Peopleà ¢Ã¢â€š ¬Ã¢â€ž ¢s Bank of China) Credit Center established few years ago. This official credit agency started to provide its credit query service to commercial banks only in 2008. Due to its limited history, more than ha lf of the nationà ¢Ã¢â€š ¬Ã¢â€ž ¢s population are still excluded from outside the system. For many applicants, Credit Center could neither verify their demographical information nor find credit record for them. Furthermore, the credit query service do not provide mass electronic date but only printable date, thus made the integration of query results with banks database an impossible mission. Secondly, for Citi bank, some demographical information, like race, gender, canà ¢Ã¢â€š ¬Ã¢â€ž ¢t be used in credit scoring model development due to the restriction of laws and regulations. Otherwise, the discrimination between loan applicants with different races or genders may cause serious consequences such as lawsuit against the bank. But there is not such limitation in both Chinaà ¢Ã¢â€š ¬Ã¢â€ž ¢s banking regulations and traditional morality, the bank could use such information to discriminate their customers in the credit scoring model if only they have enough predictive ability and business sense. Thirdly, in Citi bankà ¢Ã¢â€š ¬Ã¢â€ž ¢s credit scoring model, the information of refusal debtorsà ¢Ã¢â€š ¬Ã¢â€ž ¢ are also deemed as sample date, thus provide a new dimension to analysis the customersà ¢Ã¢â€š ¬Ã¢â€ž ¢ risk characteristics. The bank may summarize rules from the risk characteristics of those rejected applicants and adopted into the credit approval guidelines for further practice operations. CMB did not reserve any information about rejected applicant in past so that its credit scoring system did not involve any reject inference activity. Recently, CMB has started to collect information about rejected applicant, but the information canà ¢Ã¢â€š ¬Ã¢â€ž ¢t be used in adjust the model only when they accumulated to a certain amount after about five years. Generally speaking, CMB has already established a series of credit scoring model to cover its retail banking business including mortgage loan by using universal methodology. However, the date col lection is one of its main shortages for the bank to improve the quality of its modelling practice. 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¸Ã…  Ãƒ ¥?†¡Ãƒ ¥Ã‚ ¹Ã¢â‚¬ ¦Ãƒ ¥Ã‚ ºÃ‚ ¦Ãƒ ©?Ã… ¾Ãƒ ¥Ã‚ ¸Ã‚ ¸Ãƒ ¦Ã…“†°Ãƒ ©Ã¢â€ž ¢?à £Ã¢â€š ¬Ã¢â‚¬Å¡Ãƒ ¦Ã¢â€ž ¢Ã‚ ®Ãƒ ©Ãƒ §Ã… ¡Ã¢â‚¬Å¾Ãƒ ¥Ã‹â€ Ã¢â‚¬  Ãƒ ¦Ã… ¾?à ¨Ã‚ ®Ã‚ ¤Ãƒ ¤Ã‚ ¸Ã‚ ºÃƒ ¯Ã‚ ¼Ã…’à ¨Ã‚ ¿Ã¢â€ž ¢Ãƒ ¤Ã‚ ¸Ã… ½Ãƒ ¤Ã‚ ¸Ã‚ ­Ãƒ ¥Ã¢â‚¬ ºÃ‚ ½Ãƒ ¨Ã‚ ¾Ã†â€™Ãƒ ©Ã‚ «Ã‹Å"à §Ã… ¡Ã¢â‚¬Å¾Ãƒ ©Ã‚ ¦Ã¢â‚¬â€œÃƒ ¤Ã‚ »Ã‹Å"à ¦Ã‚ ¯Ã¢â‚¬ Ãƒ §Ã… ½Ã¢â‚¬ ¡Ãƒ ¥Ã…’à ¤Ã‚ ¸Ã… ½Ãƒ ¨Ã‚ ¾Ã†â€™Ãƒ ¤Ã‚ ¼Ã‚  Ãƒ §Ã‚ »Ã… ¸Ãƒ §Ã… ¡Ã¢â‚¬Å¾Ãƒ ¤Ã‚ ¿Ã‚ ¡Ãƒ §Ã¢â‚¬ Ã‚ ¨Ãƒ ¦Ã¢â‚¬â€œÃ¢â‚¬ ¡Ãƒ ¥Ã…’–à ¦Ã…“†°Ãƒ ¥Ã¢â‚¬ ¦Ã‚ ³Ãƒ £Ã¢â€ š ¬Ã¢â‚¬Å¡ Chinaà ¢Ã¢â€š ¬Ã¢â€ž ¢s housing market reform started in year 1988, but it was not until 1995 that Chinaà ¢Ã¢â€š ¬Ã¢â€ž ¢s central bank PBOC issued its first regulation in individual household loan area. This Provisional Code of Housing Loan on Commercial Banksà ¢Ã¢â€š ¬Ã¢â€ž ¢ Account set the minimum mortgage down payment ratio at 30%, the maximum term of mortgage loan at 10 years, the mortgage interest rate is a preferential rate to the benchmark of fixed assets loan. In 1999, PBOC issued A Number of Views on Encouraging the Development of Consumption Loans, in which the loan to value rate loosened to 80%, the maximum term of mortgage loan to 30 years, and the lowest preferential interest rate can be 10% discount on benchmark. In 2003, PBOC issued Notice on Further Enhance Real Estate Loan Management, in which reaffirmed the 20% minimum down payment, raise the interest rate of mortgage loan to benchmark. The Notice brings forward the new concept of à ¢Ã¢â€š ¬Ã…†œsecond set of houseà ¢Ã¢â€š ¬?, to which the bank should raise the down payment and interest rate level to the debtor. In recent years, the skyrocketing real estate prices in China bring worries on assets bubbles in public and accumulated risks to mortgage loans and real estate loan. The central bank and CBRC (China Banking Regulatory Commission) constituted and enacted several regulations to guide the mortgage business with most of the measures hooked on down payment ratio and interest rate. Generally speaking, for purchase of the first set of house, the down payment requirement is at least 20% and the interest rate are relatively flexible; for purchase of the second set of house, the down payment requirement is at least 30% and the interest rate at benchmark. The relatively loosen policy was deems as one of the important drives to boost the house price to an irrational high level now in many Chinese big cities. To curb housing market speculation, the State Council announce d in April, 2010 that: 1. The minimum down payment ratio is lifted to 30% for the first set of house purchase if the area is more than 90 square meters; 2. Second set of house buyers must pay at least 50% of the value for mortgage down payment, and the interest rate are at least 1.1 times of benchmark; 3. Higher down payment ratio and interest rates are required for à ¢Ã¢â€š ¬Ã…“three of more setà ¢Ã¢â€š ¬? of house purchase. Analyst believe the mortgage loan demand should be negatively impacted but within a limited range, and the lifted down payment ratio would provide better buffer for housing pricing decline, which would benefit loan quality. As for the banking regulations specific in the credit scoring system, it was not until 1997 CBRC released several regulatory guidelines successively along with the Basel II Accord implementation progress in Chinese banking industry. One of the most important is the Internal Rating System Regulatory Guideline, in which principle guidel ines for building internal rating system are provided for commercial banks. Being a vital part of internal rating system, credit scoring system is also regulated by these guidelines, and the main principles on credit scoring system in the guidelines are as follows: The burden is on the bank to satisfy its supervisor that a model or procedure has good predictive power and that regulatory capital requirements will not be distorted as a result of its use. The variables that are input to the model must form a reasonable set of predictors. The model must be accurate on average across the range of borrowers or facilities to which the bank is exposed and there must be no known material biases. The bank must have in place a process for vetting data inputs into a statistical prediction model which includes an assessment of the accuracy, completeness and appropriateness of the data specific to the assignment of an approved rating. The bank must demonstrate that the data used to build the model are representative of the population of the bankà ¢Ã¢â€š ¬Ã¢â€ž ¢s actual borrowers or facilities. When combining model results with human judgement, the judgement must take into account all relevant and material information not considered by the model. The bank must have written guidance describing how human judgement and model results are to be combined. The bank must have procedures for human review of model-based rating assignments. Such procedures should focus on finding and limiting errors associated with known model weaknesses and must also include credible ongoing efforts to improve the modelà ¢Ã¢â€š ¬Ã¢â€ž ¢s performance. The bank must have a regular cycle of model validation that includes monitoring of model performance and stability; review of model relationships; and testing of model outputs against outcomes. The bank should clearly know the basic assumptions of the model and assess the consistency between the assumptions and current economic or market conditions. The bank must demonstrate that economic or market conditions that underlie the data are relevant to current and foreseeable conditions. If current conditions change, the bank should ensure that the model can adapt the changed conditions. If model can not meet the request, the bank must adjust model conservatively. The above are all regulation items about credit scoring system. We can see those regulation items are mostly principle-based. The process and method of building credit scoring system are in compliance with the guideline on the whole. Although the banking regulations on credit scoring system are roughly and fundamentally, CBRC has always kept a close watch on the credit scoring model construction in the countryà ¢Ã¢â€š ¬Ã¢â€ž ¢s biggest six commercial banks including CMB. Stringent and strict on-site assessment has been carried out by CBRC throughout the whole process of date collection, model design to parameter results to ensure the appropriate a doption of the models. In June 2010, CBRC urgently request various state-owned commercial banks, joint-stock commercial banks as well as the city commercial banks with asset size over 500 billion yuan to start self-examination for real estate loans, and conduct stress testings especially in mortgage loan business. The result shows that even under highest stress scenario that the house price drop 30% from present level, the real estate related loans will maintain good quality, and the NPL (non-performing loan) ratio for mortgage loans will increase less than 1% for the whole banking industry. It is believed that the relatively high down payment ratio and the traditional credit culture in China contributed to such a released consolable result. Comparison of China/US/UK banking regulation and default risk Mortgage lending in China is safer and more stable than that in US. Conclusions

Essay on The Benefits of Naps - 1275 Words

What do people think of when they first hear the word nap? Everyday sayings such as snatching a nap, being caught napping, snoozing, or stealing forty winks are all beneficial daily activities we need to add to our busy life. If we do, we will be more awake and capable to reach our full potential as an individual. People don’t realize how important a nap can be. Although popular beliefs suggest that naps are a waste of time, naps actually increase productivity by resting the brain. Nap Basics In order to obtain the full benefits of the nap, there are certain â€Å"rules† that need to be followed. Following these guidelines will ensure maximum effectiveness. One condition is that naps should be taken in the early afternoon. Naps can†¦show more content†¦You will be able to accomplish more.† (qtd. by Griffey 42) An afternoon nap helped him with his many responsibilities. Leonardo da Vinci used naps so much that he didn’t need to sleep at night. Every two hours, he would take a fifteen minute nap. Many believe this contributed to his seemingly endless supply of creativity (Griffey 10). Thomas Edison would take one to two naps per day, and once turned a patron away because he was taking a nap (Griffey 73). Bill Clinton was known for taking naps whenever he could (Griffey 52). These famous figures dispel the myth that taking naps means ones lazy. They accomplished so much, yet knew their individual limitations. They gave full effort when frequent occasions required, but they also refused to run too fast. We can learn from their examples, and restore the nap to our everyday routine. The Need for Naps In today’s busy world, fatigue in the early afternoon is nearly normal. Many believe that this slump is caused by a heavy lunch. However, in reality, this occurs because we were meant to have a mid-afternoon nap (Jacobs). Those who take twenty minutes to nap when this slump occurs receive special benefits because sleep during the day is more restful than extra sleep in the morning (Scott). For everyone this can be a tough to do, especially when you have something so beneficial. Society would do well to make room for naps. When you wake up in the morning dreading the day, not wanting toShow MoreRelatedPersuasive Essay On Naps1598 Words   |  7 PagesNaps. Everyone has taken naps at some point in their life. We take them after a long day of school, a long day of work, or when we didn’t get enough sleep the night before. We take naps all the time, but do we truly know how naps affect our body? Do we truly know how we benefit from naps?   Ã‚  Ã‚   Sleep is a complicated process that many of us take for granted. Without sleep, we would die. Sleep has many benefits, but unfortunately some people with sleep disorders or people with night shift jobs are unableRead MoreDaily Napping To Keep You Happy.With Only 24 Hours In A1260 Words   |  6 Pagesthat issue. To promote physical well-being and improve mood and memory, schools and workplaces should adjusts their schedules to accommodate naps. To many adults and teenagers, naps are a gift from the heavens and a rare occurrence. Although people don’t normally take daily naps once they grow up, there aren’t many reasons not to. Napping provides many benefits, including an â€Å"increase in relaxation, reduced fatigue, reduced risks of heart disease, increased alertness, improved mood, improved performanceRead MoreSpeech On Importance Of Nap Time1520 Words   |  7 PagesOscar Bencomo Mrs. Stanton English Comp II October 8, 2014 Importance of Nap Time People tend to get drowsy throughout the day and everyone has their way of dealing with the grogginess. The best and most natural way is to simply take a nap. It is like taking a mini-vacation. People close their eyes to get away from reality and awake with energy to push them through the day. A nap is essential to keep the mind sane, it contributes to good performance, alertness, productivity, and emotional balanceRead MoreWhy People Should Nap During The School Of Montgomery College Essay1665 Words   |  7 PagesAlong with this many students nap during the day to make up for the loss of sleep. Many studies have found that napping can actually improve moods, health, and academic performance. This is shown in different studies from surveys, to testing different reactions and moods. All the way to actually providing students with a place to nap. Napping can increase academic performance, mood, and have a positive effect on health. All of these being reasons why people should nap. The main campus of MontgomeryRead MoreWork And Adopt A Natural Energy Booster, The Common Nap Essay1607 Words   |  7 Pagestake a break from their work and adopt a natural energy booster, the common nap. Workplace napping is an innovative, low-cost method that is starting to be incorporating at people’s places of work. Many people associate naps with laziness, however, businesses are evaluating the importance of naps in the workplace, as they hold various benefits such as an increase in performance, attentiveness, and overall productivity. Naps have held many stigmas over the years and are often seen as very unprofessionalRead MoreWake Up! Sleep is Necessary Essay1187 Words   |  5 Pagesfull night’s rest. This is untrue because the amount of sleep you need has a large dependence on the many factors that influence healthy energy. Age is a large indicator of how much sleep is relevant to an individual. Studies done by Milner (2008), â€Å"Benefits of napping and an extended duration of recovery sleep on alertness and immune cells after acute sleep restriction† show that an adult needs nine hours a day in order to carry out work productively, feel rejuvenated, and maintain contented moods.Read MoreSleep, Sleep Disorders, and Biological Rhythms by Charles J Amlaner1247 Words   |  5 Pagesthe short periods of sleep, called naps, that some people take during the day. Throughout history there have been many famous and important people who made naps an important part of their day including John F. Kennedy, Ronald Reagan and Winston Churchill. In some cultures the nap is traditional part of everyday life. Spain is famous for its siesta, and other countries, like Japan, are discovering the benefits of a midday sleep period. For maximum effect the nap should be about 30 minutes becauseRead MoreSleep And Its Effect On Children1342 Words   |  6 Pageseffect on their learning development. 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Young children between the ages of five and six benefit emotionally, cognitively, socially, and physically after brief rest periods; therefore, twenty-minute naps during kindergarten should beRead MoreThe Distribution Of Watches962 Words   |  4 Pagesreceive a reminder email and text to resume wearing the watch. Nap Session Based on the previous evening’s email participants are directed to meet after the morning practice participants in the Sleep Psychology Research Lab Napping participants (total of 6) will be directed to the Sleep Room Participants will be explained the procedure and requested to not talk. A baby monitor will be in the room so as to insure compliance. After the nap session participants will be waken and directed to return to

Schema Mapping free essay sample

The approaches which are used by P2P systems for defining and creating the mappings between peers’ schemas can be classified as follows: 1- Pairwise schema mapping, 2-mapping based on machine learning techniques, 3- common agreement mapping, - 4-schema mapping using information retrieval (IR) techniques. 1-Pairwise Schema Mapping: In this approach, each user defines the mapping between the local schema and the schema of any other peer that contains data that are of interest. Relying on the transitivity of the defined mappings, the system tries to extract mappings between schemas that have no defined mapping. Piazza follows this approach : An Example of Pairwise Schema Mapping in Piazza The data are shared as XML documents, and each peer has a schema that defines the terminology and the structural constraints of the peer. When a new peer (with a new schema) joins the system for the first time, it maps its schema to the schema of some other peers in the system. We will write a custom essay sample on Schema Mapping or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Each mapping definition begins with an XML template that matches some path or subtree of an instance of the target schema. Elements in the template may be annotated with query expressions that bind variables to XML nodes in the source. Active XML [Abiteboul et al. , 2002, 2008b] also relies on XML documents for data sharing. The main innovation is that XML documents are active in the sense that they can includeWeb service calls. Therefore, data and queries can be seamlessly integrated. another example that follows this approach: The Local Relational Model (LRM): LRM assumes that the peers hold relational databases, and each peer knows a set of peers with which it can exchange data and services. This set of peers is called peer’s acquaintances. Each peer must define semantic dependencies and translation rules between its data and the data shared by each of its acquaintances. The defined mappings form a semantic network, which is used for query reformulation in the P2P system. Piazza Querying Reformulation Example: Hyperion [Kementsietsidis et al. , 2003]: generalizes this approach to deal with autonomous peers that form acquaintances at run-time, using mapping tables to define value correspondences among heterogeneous databases. Peers perform local querying and update processing, and also propagate queries and updates to their acquainted peers. Table from Airline ‘A’ Table from Airline ‘B’ Mapping Tables PGrid [Aberer et al. , 2003b]: also assumes the existence of pairwise mappings between peers, initially constructed by skilled experts. Relying on the transitivity of these mappings and using a gossip algorithm, PGrid extracts new mappings that relate the schemas of the peers between which there is no predefined schema mapping. 2-Mapping based on Machine Learning Techniques: This approach is generally used when the shared data are defined based on ontologies and taxonomies as proposed for the semantic web. It uses machine learning techniques to automatically extract the mappings between the shared schemas. The extracted mappings are stored over the network, in order to be used for processing future queries. * GLUE [Doan et al. , 2003b] uses this approach as the following: Given two ontologies,for each concept in one, GLUE finds the most similar concept in the other. It gives well founded probabilistic definitions to several practical similarity measures, and uses multiple learning strategies, each of which exploits a different type of information either in the data instances or in the taxonomic structure of the ontologies. To further improve mapping accuracy, GLUE incorporates commonsense knowledge and domain constraints into the schema mapping process. * The basic idea is to provide classifiers for the concepts. To decide the similarity between two concepts A and B, the data of concept B are classified using A’s classifier and vice versa. * The amount of values that can be succ essfully classified into A and B represent the similarity between A and B. - 3- Common Agreement Mapping: In this approach, the peers that have a common interest agree on a common schema description for data sharing. The common schema is usually prepared and maintained by expert users. APPA [Akbarinia et al. , 2006a; Akbarinia and Martins, 2007] makes the assumption that peers wishing to cooperate. * e. g. , for the duration of an experiment, agree on a Common Schema Description (CSD). * Given a CSD, a peer schema can be specified using views. This is similar to the LAV approach in data integration systems, except that queries at a peer are expressed in terms of the local views, not the CSD. Another difference between this approach and LAV is that the CSD is not a global schema, i. e. , it is common to a limited set of peers with a common interest (see Figure). Common Agreement Schema Mapping in APPA * Thus, the CSD does not pose scalability challenges. When a peer decides to share data, it needs to map its local schema to the CSD. Example: * Given two CSD relation definitions r1 and r2, an example of peer mapping at peer p is: In this example, the relation r(A;B;D) that is shared by peer p is mapped to relations r1(A;B;C), r2(C;D;E) both of which are involved in the CSD. In APPA, the mappings between the CSD and each peer’s local schema are stored locally at the peer. Given a query Q on the local schema, the peer reformulates Q to a query on the CSD using locally stored mappings. AutoMed [McBrien and Poulovassilis, 2003]: is another system that relies on common agreements for schema mapping. It defines the mappings by using primitive bidirectional transformations defined in terms of a low-level data model. 4- Schema Mapping using IR Techniques: This approach extracts the schema mappings at query execution time using IR techniques by exploring the schema descriptions provided by users. PeerDB [Ooiet al. , 2003a] follows this approach for query processing in unstructured P2P networks. * For each relation that is shared by a peer, the description of the relation and its attributes is maintained at that peer. The descriptions are provided by users upon creation of relations, and serve as a kind of synonymous names of relation names and attributes. When a query is issued, a request to find out potential matches is produced and flooded to the peers that return the corresponding metadata. By matching keywords from the metadata of the relations, PeerDB is able to find relations that are potentially similar to the query relations. The relations that are found are presented to the issuer of the query who decides whether or not to proceed with the execution of the query at the remote peer that owns the relations. Edutella [Nejdl et al. , 2003] also follows this approach for schema mapping in super-peer networks. Resources in Edutella are described using the RDF metadata model, and the descriptions are stored at super-peers. When a user issues a query at a peer p, the query is sent to p’s super-peer where the stored schema descriptions are explored and the addresses of the relevant peers are returned to the user. If the super-peer does not find relevant peers, it sends the query to other super-peers such that they search relevant peers by exploring their stored schema descriptions. In order to explore stored schemas, super-peers use the RDF-QEL query language, which is based on Datalog semantics and thus compatible with all existing query languages, supporting query functionalities that extend the usual relational query languages.