Term Exam Sample Paper free essay sample

This example test should just be utilized as a manual for the styles of inquiries. The subjects secured here are not comprehensive. Your update ought not be founded on these arrangement of inquiries as it were. The degree of trouble of this example test is additionally NOT characteristic of the degree of trouble of the real test. The appropriate responses are given toward the finish of the record. 1. A sensible gauge of the yearly standard deviation of return of the securities exchange would be? a. Under 5 percent. b. Somewhere in the range of 5 and 10 percent. c. Somewhere in the range of 15 and 25 percent d. In excess of 30 percent e. Difficult to appraise 2. An undertaking has a normal income of $200, in year 1. The hazard free rate is 6%, the market pace of return is 16%, and the ventures beta is 1. 5. Figure the sureness proportional income for year 1. a. $175. 21 b. $164. 29 c. $228. 30 d. $212. 56 e. Nothing from what was just mentioned 3. Offer X has a standard deviation of return of 10%, share Y has a standard deviation of return of 20%. We will compose a custom paper test on Term Exam Sample Paper or on the other hand any comparable point explicitly for you Don't WasteYour Time Recruit WRITER Just 13.90/page The relationship coefficient between the offers is 0. 5. On the off chance that you put 60% of your assets in share X and 40% in share Y, what is the standard deviation of the portfolio? a. 10% b. 20% c. 12. 2% d. 14. 0% e. Nothing from what was just mentioned 4. Richard Rolls scrutinize of trial of the capital resource evaluating model is that: a. Given a productive market portfolio the CAPM is redundancy b. The market portfolio isn't proficient c. You have to test the model utilizing the market portfolio for every single capital resource d. an and c e. an and b 5. The Template Corporation has a value beta of 1. 2 and an obligation beta of . 8. The organizations showcase esteem obligation to value proportion is . 6. In the event that it attempts another task with a similar hazard profile, what is the undertaking beta (expecting zero duty rate)? a. 0. 70 b. 0. 72 c. 0. 96 d. 1. 04 e. 1. 05 6. Think about after information on three offers: Share Standard Deviation A 0. 6 B 0. 30 C 0. 20 Beta 1. 00 0. 80 1. 29 Assuming that you wished to limit hazard, you would choose share if the offer was held in all alone, and you would choose share if the offer was to be added to a portfolio. a b c d e 7. An, An A, B, A B, C, An In an arrangement of three u nique offers, which of coming up next is beyond the realm of imagination? a. b. c. d. e. The danger of the portfolio is not exactly the danger of every one of the offers held in disengagement. The danger of the portfolio is more noteworthy than the danger of one of the offers. The beta of the portfolio is not exactly the beta of every one of the individual offers. The beta of the portfolio is more noteworthy than the beta of one of the individual offers betas. The standard deviation of the portfolio is more noteworthy than the standard deviation of the hazard free resource. 8. You hold a broadened portfolio comprising of 20 unique offers with $1,000 put resources into each. The portfolio beta is equivalent to 1. 35. You have chosen to sell all your holding of Edna Average Cosmetics Ltd which has a beta of 1. You will reinvest the returns in Aggressive Action Ltd which has a beta of 2. What is the new beta of the portfolio? a. b. c. d. e. 1. 35 2. 35 1. 45 1. 10 1. 40 9. An organization is thinking about an interest in another task. That venture is best assessed just as: a. b. c. d. e. It is an independent task free of the organization thus its hazard is estimated as difference. Its hazard is acclimated to take into account broadening with the organizations existing ventures Its expense of capital is the weighted normal expense of capital Its hazard is assessed just as it were exchanged the capital markets None of the over 10 Is the portfolio with the base conceivable fluctuation a proficient portfolio? a. b. c. d. e. Indeed No Yes, however just for hazard cherishing financial specialists Yes, yet just for speculators who won't face any challenge. Indeed, however just for financial specialists who are hazard nonpartisan. 11. For a two-stock portfolio, the greatest decrease in hazard happens when the connection coefficient between the two stocks is: A) +1 B) 0 C) - 0. 5 D) - 1 E) None of the over 12. The change or standard deviation is a proportion of: A) Total hazard B) Unique hazard C) Market chance D) Bankruptcy chance E) None of the over 13. The danger of a very much expanded portfolio relies on the A) Market hazard B) Unique danger of the protections remembered for the portfolio C) Number of protections in the portfolio D) Variance of the portfolio E) None of the over 4. A factor in APT is a variable that: An) Affects the arrival of unsafe resources in a precise way B) Correlates with hazardous resource returns in an unsystematic way C) Is absolutely commotion D) Affects the arrival of a dangerous resource in an irregular way E) is commonly not associated with stock brings 15 back. An organization has an expense of capital of 15%. Nonetheless, it is presenting another item that it considers to be a dangerous undertaking to an all around expanded financial specialist. What would you be able to state about the fitting markdown rate for the undertaking? A) The rate utilized ought to be 15% B) The rate utilized ought to be lower than 15% C) The rate utilized ought to be more prominent than 15% D) Any rate somewhere in the range of 12% and 18% is adequate E) The rate ought to be the normal market return. 16 What has been the normal yearly pace of return in genuine terms for an arrangement of U. S. basic stocks somewhere in the range of 1900 and 2006? a. Under 2% b. Somewhere in the range of 2% and 5% c. Somewhere in the range of 5% and 8% d. More noteworthy than 8% e. More prominent than 20% 17. Super Corporation has the accompanying returns for as far back as three years: 8%, 12% and 10%. Ascertain the fluctuation of the arrival and the standard deviation of the profits.

Legislation & regulations Essay Example for Free

Enactment guidelines Essay Until the entry of the Food, Drug and Cosmetics Act of 1938, which just because forced punishments for items that contains hazardous or polluted substances, the creation and offer of makeup in the United States was then directed. Grolier (2005:220). Clear and precise naming of all fixings was currently required. The food and medication laws are managed by the Food and Drug Administration (FDA), once in a while related to the Department of Agriculture. Concerning beautifying agents, the laws consider the makers liable for selling items that are in consistence with the guidelines. Makers, in any case, are not required to enlist their organizations, their items, or their item fixings with the FDA. They need not report unfavorable responses, on the off chance that they happen among their clients. The FDA may explore an item , yet bears the obligation regarding demonstrating that a substance utilized in that item is unsafe. The business, be that as it may, has been to a great extent self-policing in the ongoing years. Respectable makers lead their own item security tests. In this table, the elements of FDA are specified, in spite of the fact that not restricted uniquely to these: Source: Passiment (2006:38) Prue (2007:349) As a component of the screening techniques and security quantifies in adjusting these items and selling cross-areas, the inquiry on quality control evaluation ought to never be undermined nor put into auxiliary significance. The level of the quality estimates will straightforwardly affect item execution, cultural utilization, client faithfulness and market endurance of the firm. In this manner, the assessing board ought to insignificantly have the strictest techniques or approachs of testing and assessing these bio-items, according to the outline or flowchart underneath: Source: Akoh (2004:39) Regulatory and Safety Conditions More than beauty care products, the administration additionally directs administrative arrangements for any specialists proposed for use in the preparing of nourishments or union of mixes or elements for food use. As indicated by the Food Chemical Codex, compounds as recorded must have a GRAS status or experience the administrative procedure of endorsement. Nonetheless, the debate over hereditarily altered life forms ought to be thought about by atomic biotechnologists and applied biotechnologists as they structure new lipases for new employments. These administrative polices were set up by the U. S. Food and Drug Administration (FDA) for substances that will be available in the eating regimen at low levels. Neither the compound arrangement nor the creation life form has any wellbeing related risk, and both do not have any oral poisonousness and genotoxicity. Forcing and actualizing arrangements influencing human subjects are the principle elements of the FDA. Being a government administrative organization that screens the security and adequacy of food and drinks and even of clinical gadgets. The FDA is separated into focuses:  Center for Devices and Radiological Health with its Office of In Vitro Diagnostics Device Evaluation  Center for the Biological Evaluation and Research FDA order are assigned into a few classes: Class I, Class II or Class III, with Class I being the least guideline. Gadgets are ordered by the danger of hurting the client and structure. The easier the plan, the higher the likelihood that it will be ordered as Class I. FDA’s choices can be exceptionally questionable for the business and for the organization or the maker. It ought to be noted anyway that this dynamic procedure isn't a standard making game, so neither the influenced organization have the option to remark on FDA’s choices. The FDA has been regularly seen as an obstructionist to another development. , particularly in new items and prescription.

Avoid spelling errors!

Avoid spelling errors! As you begin your MIT application and other college applications, I thought Id give some tips on how to avoid simple spelling errors. Most errors I see are not in the essay portion. People are pretty good about using spell check for that. More often, I see spelling errors in the activity list, list of honors and awards, self-reported coursework form, or short answer essays. So be careful in these sections, too! What happens if you do have a spelling error? Its certainly not fatal, but its something to avoid if you can. Its unlikely to be the difference between getting in and not getting in, but youd rather look your best throughout the application. My favorite spelling error on MIT applications is students who talk about taking discreet math. Is this math that you do without showing off? (I think these students mean discrete math) I also like duel enrollment courses. Perhaps these students are preparing to join MITs national champion Pistol Team? (Probably you mean dual enrollment) Both of these examples, of course, dont get caught by spell check, since both discreet and duel are actual words. So dont just rely on Microsoft Word to proofread your essay youll want to take a keen look at it yourself. Here is a non-scientific list of the most commonly misspelled words I see on applications. And, thanks to GoogleBattle, Ill tell you how often people on the Web make the same mistake. independent [independant, 6% of the time] calculus [calculous, 2%] honor roll [honor role, 2%] principal [principle, n/a] extracurricular [extracuricular, 1%] discrete math [discreet math, 1%] dual enrollment [duel enrollment, 1%] varsity [varisty, 1%] sophomore [sophmore, 8%] I hope this is helpful! What are those words and terms that you most often get wrong?

Immigrant Assimilation And Associated Implications With A...

Acculturation as a concept is a relatively new theory in the fields of sociology and anthropology, even more so in the world of psychology. In recent years, it has been throuroghly investigated and analysed as the immigration rates increase in Australia and worldwide since world war two. Acculturation has become an ever increasingly relevant concept in today’s eclectic blend of cultures. Immigrants are usually caught in limbo between two different cultures of their own and the host country, with little idea as to how to successfully assimilate. They are confronted with being separated with their culture, unfamiliar aspects of life and uncertainty. Many researchers have studied the assimilation process regarding the best approach and causal factors that may interfere in doing so. Although the literature presents acculturation in a variety of contexts, this literature review’s primarily focus will be on suggested approaches for immigrant assimilation and associated implic ations with a strong focus on the work of John Berry. First of all, it is imperative to get a clear definition and understanding of what acculturation is and what it entails. The definition for acculturation is varied depending on view point of the definer and their discipline (ie, psychology, anthropology, or sociology). Berry (2005) explains acculturation as a combined process of cultural and psychological change that results from an amalgamation of at least two cultural groups. In other words, theShow MoreRelatedThe Theory And Methods Of Motivation2979 Words   |  12 Pagesbehavioral issues and was constantly in trouble with the law. My middle brother had mild dyslexia and emotional problems that later in his adult life was diagnosed as ADHD. Looking back, low self-efficacy and learned helplessness was rampant in the psychology of my brothers within the classroom. Schoolwork was a major struggle and they failed to place value on success or failure. They were not motivated to perform in school despite being raised in a supportive , loving family. And so I have always wonderedRead MoreSocial Identity6572 Words   |  27 Pages as a consequence, can mean many different things to different people. Identity is sometimes used to refer to a sense of integration of the self, in which different aspects come together in a unified whole. This intrapsychic emphasis is often associated with Erik Erikson, who introduced the term â€Å"identity crisis† as part of his stage model of psychological development. Another common use of the term, particularly in contemporary times, is identity politics, where the reference is typically toRead MorePsych Exam Chapter 1216262 Words   |  66 Pagesthe general adaptation syndrome B) stressor; stress C) hassle; the stress contagion effect D) stress; stressor Page 1 5. The branch of psychology that studies how biological, behavioral, and social factors influence health, illness, medical treatment, and health-related behaviors is called: A) social psychology. B) biological psychology. C) health psychology. D) psychoneuroimmunology. 6. Dr. Gordon uses the biopsychosocial model to guide her research into how psychological factors influence healthRead MoreSantrock Edpsych Ch0218723 Words   |  75 Pagestheir child, a girl’s aggressive attack on a peer, a boy’s empathetic feelings for a sick or hurt classmate, and an adolescent’s feelings of joy after getting good grades all reflect socioemotional processes in development. In this chapter, we will focus on physical (biological) and cognitive processes. In the next chapter, we will explore socioemotional processes. Remember as you read about biological, cognitive, and socioemotional processes that they are interwoven. Socioemotional processes can shapeRead MoreLenovo and Ibm23938 Words   |  96 Pagesworldwide trend of businesses expanding beyond the domestic boundaries (Mitchell, 2000; Focarelli and Pozzolo, 2008). Companies, large or small, public or private, are increasingly engaged in the international competition now. This means that the world is becoming one connected economy in which companies do business and compete anywhere with anyone, regardless of national boundaries. Companies that rivet their eyes on â€Å"domestic-business-only† are already falling behind their international competitorsRead MoreIntercultural Communication21031 Words   |  85 Pagesaware of the reasons for the development of the world into a global system: a. The development of technology has enabled a constant flow of information and ideas across boundaries. Communication is faster and more available than ever. The development of transportation as well, has increased face-to-face contact with people from different cultural backgrounds immensely b. These developments have affected the world economy. The business world is becoming more international and interrelatedRead MoreFrom Salvation to Self-Realization18515 Words   |  75 Pagesit also needed a favorable moral climate. In this essay, I shall argue that the crucial moral change was the beginning of a shift from a Protestant ethos of salvation through self-denial toward a therapeutic ethos stressing self-realization in this world an ethos characterized by an almost obsessive concern with psychic and physical health defined in sweeping terms. 5Of course, one could argue that there is nothing specifically historical about this therapeutic ethos. People have always been preoccupiedRead MoreOrganisational Theory230255 Words   |  922 Pagesthought-provoking, witty and highly relevant for understanding contemporary organizational dilemmas. The book engages in an imaginative way with a wealth of organizational concepts and theories as well as provides insightful examples from the practical world of organizations. The authors’ sound scholarship and transparent style of writing set the book apart, making it an ingenious read which invites reflexivity, criticalness and plurality of opinion from the audience. This is a book that will become aRead MoreFundamentals of Hrm263904 Words   |  1056 PagesUnderstanding Cultural Environments 4 The Changing World of Technology What Is a Knowledge Worker? 6 How Technology Affects HRM Practices 6 Recruiting 7 Employee Selection 7 Training and Development 7 Ethics and Employee Rights 7 Motivating Knowledge Workers 7 Paying Employees Market Value 8 Communications 8 Decentralized Work Sites 8 Skill Levels 8 A Legal Concern 8 Employee Involvement 20 How Organizations Involve Employees 20 Employee Involvement Implications for HRM 20 Other HRM Challenges 21 RecessionRead MoreFactors Affecting Motivation to Learn English25117 Words   |  101 Pagesi FACULTY OF EDUCATION UNIVERSITI TEKNOLOGI MALAYSIA FACTORS CONTRIBUTING TO PROFICIENCY IN ENGLISH AS A SECOND LANGUAGE AMONG CHINESE STUDENTS IN JOHOR BAHRU BY OOI CHOON LEAN MP061113 EDUCATIONAL PSYCHOLOGY 581225-07-5846 SUPERVISOR ASSOC PROF DR AZIZI HJ YAHAYA ii ABSTRACT There has been an ongoing debate about the importance of the English language. Employers are lamenting that new graduates these days lack communicative proficiency in English. The purpose of this study

Essay on Computer Aided Language Learning (CALL) - 584 Words

Through the last several courses, several areas have been reviewed and considered for research. The main area in which I am focusing on at this time is the area of computer aided language learning (CALL). Specifically, I am interested in the literacy development of second language learners. However, I am also aware that there is significant resistance from many teachers to integrate the technology in its entirety and there is also resistance from parents. From the student’s point of view, I think it depends on the age group and the teacher’s influence, but I have not seen any research that actually supports that idea. It seems that research in this area would be challenging because it would require both a significant amount of time and†¦show more content†¦In addition, with a study like this, the control group would be group of students who do not have specific technology available. It still seems that the area of study is far too broad, however. The final consideration was to create a case study based on a specific situation which I have seen repeatedly in my classroom. I work with English language learners who come from many parts of the world and with many levels of educational backgrounds. OI have witnessed certain areas which both frustrate and worry me as an educator. Some of my students are highly gifted, but there is no program available for them because they are not fluent in English. If their native language is Spanish, the district is able to test them in content specific areas. However, if their primary language is not Spanish, they are not tested until they achieve a certain level of proficiency. These students usually end up having very low scores and often drop out of school. The other scenario which I have witness is the students who comes either with limited schooling or with significant disabilities and limited English. 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Ethical Analysis of Citigroup Free Essays

string(125) " to the Corporate Citizenship Report, in early 2012, Citi rolled out a formalized ethics training program for all employees\." Company Assessment: An Analysis of CitiGroup 1 Company Assessment: An Analysis of CitiGroup Introduction With origins dating back to 1812, Citigroup (Citi) is a global diversified financial services holding company providing both individuals and institutions with a broad range of financial products and services. These services include; consumer banking and credit; corporate and investment banking; securities brokerage; transaction services; and wealth management. Headquartered in Manhattan, NY, Citi currently has over 260,000 employees servicing 200 million customer accounts in more than 160 countries around the globe. We will write a custom essay sample on Ethical Analysis of Citigroup or any similar topic only for you Order Now Citi is organized into two divisions; Citicorp and Citi Holdings. Citicorp manages the consumer and institutional core client business, while Citi Holdings manages the brokerage and asset management divisions. Based on financial data obtained from the Citi website, the core st business (i. e. Citicorp), represents 92. 9% of the $19. 4 billion ($US) of the 1 quarter 2012 revenue. The total revenues of Citicorp are geographically diversified across the globe with North America representing 40% of the total, Asia at 22%, Latin America at 20% and Europe, Middle East and Africa (EMEA) accounting for the remaining 18% (Citi Financials, 2012) Over its 200 year history, Citi has been a leading innovator in financial services starting in the 1920’s by becoming the first major U. S. bank to offer compound interest on savings accounts. Also, through the acquisition of Second National Bank, Citi has the distinction of being the first bank in New York to provide separate banking services for women. Further innovations include; offering unsecured personal loans and customer checking accounts in 1928 and 1936 respectively (Citi Timeline, 2012). Citi’s original mission of offering traditional banking services evolved as they grew, however, since the financial crisis of 2008, Citi has been selling off many of the non-core operations to refocus on the traditional banking model. The refocused mission as stated on the corporate website is: â€Å"We strive to create the best outcomes for our clients and customers with financial solutions that are simple, creative and responsible. (Citi, 2012) The purpose of this paper is to conduct a review and overall ethical assessment of Citi which will include an overview of the mission, vision and values, ethics and compliance codes, leadership, corporate social responsibility as well as the corporate governance structure. Mission, Vision and Values Clicking on the â€Å"Our Company† link of the Citi website, you are immediately dra wn to the bolded text stating the corporate vision: â€Å"160 Countries. 1 Vision. Citi works tirelessly to provide consumers, corporations, governments and institutions with a broad range of financial products and services. We strive to create the best outcomes for our clients and customers with financial solutions that are simple, creative and responsible. † (Citi, 2012) It is clear that Citi has a vision that places them as the global bank focused on client service, innovation and financial responsibility. Expanding upon the vision statement is the mission statement of Citi and the principles that guide them. The Mission statement is: â€Å"Meeting the World’s Challenges. Seizing its Greatest Opportunities† (Citi Mission, 2012). The four key principles that guide the company as they endeavor to deliver on their vision and mission are; Common Purpose; Ingenuity; Leadership; and Responsible Finance. Based on the stated vision, mission and principles, in my opinion, Citi can be described as a focused team, rewarded based on talent and merit, operating in an innovative culture with one clear goal to deliver transparent and prudent financial products globally. I consider the written vision, mission and guiding principles of Citi to be quite inspiring. Ethics and Compliance Codes In early 2005, Charles Prince, then CEO of Citi announced a bold strategy to transform the financial giant that was Citi. His plan, known as the â€Å"Five Point Ethics Plan†, was designed to; improve ethical training; focus on talent and development; integrate ethics into performance appraisals and compensation; improve communications; and strengthen ethical controls. (Restoring Ethics, 2012) As the successor of Sandy Weill, who, Johnson (2012) suggests typifies the ethically neutral leader (p. 19), Prince faced considerable skepticism on whether his plan could work in such a large and complex organization that had a history of significant regulatory scrutiny, and was linked to some of the biggest scandals in corporate history (e. g. Worldcom). While Prince had some critics, he also had some support. In the January 28, 2005 edition of BusinessWeek Online, Prince was described as a smart, logical thinker and another quote made by an analyst was†¦Ã¢â‚¬Å"I believe that non-charismatic Prince is going to be a more positive force at Citigroup than the other three charismatic CEOs going back to the 1960s. (Restoring Ethics, 2012) I believe he vision that Prince delivered after taking over from Weill, continues to be embraced by the current Citi CEO, Vikram Pandit as well as the Board of Directors. One of the key responsibilities of the Citi Board of Directors is to review and approve the Citi Code of Conduct (the â€Å"Code†). The Code outlines Citi’s principles, values and standards of practice for all employees of 2 Citi and as such can be viewed as Citi’s ethics code. Employees are expected to read and sign the Code, not necessarily as a condition of employment, but as a formalized agreement to abide by the standards of behavior outlined therein. Although not a formal contract of employment, the formal approach to signing the Code can be viewed as being integrated into HR practices. A point of interest is that Citi also strengthens the employee requirement to abide by the code by stating that even if an employee doesn’t return a signed copy, they are still bound by its terms and conditions. In fact, in the introduction to the Code, Citi is clear that failure to adhere to the Code can result in immediate termination of employment. The latest revision to the Code was made in 2011. The code is available in 26 different languages. While in the past, employees had periodic training on the Code, it appears that the training was ad hoc, but according to the Corporate Citizenship Report, in early 2012, Citi rolled out a formalized ethics training program for all employees. You read "Ethical Analysis of Citigroup" in category "Essay examples" In addition to the Code that exists for all employees, there is an additional Code of Ethics that applies solely to the senior financial executives (CEO, CFO, etc†¦) and financial administrative staff. While it may appear that this is a sign of a higher ethical standard at Citi, as with the NYSE requirement for a firm-wide code of ethics, Sarbanes Oxley mandates a requirement for a separate Code of Ethics for senior executives. In reading both the firm-wide Code as well as the Code of Ethics for the senior executives, it’s interesting to note that the Code of Ethics reads like a very compliance based document, while the firm-wide Code reads more like a call to action for all employees to act with the utmost integrity. In fact, the word integrity appears 9 times in a relatively short document. In all fairness to Citi, they do specify that the Code of Ethics should be considered a supplement to the firm-wide Code and they provide a link to the Code as part of the document. Citi also has a set of ethical principles that applies to suppliers. In short, Citi expects that suppliers adhere to the same high standards of practice that governs Citi. The key areas that the principles apply to are; ethical business practices (Integrity, transparency and community engagement); human rights in the workplace; environmental sustainability; and management systems and implementation. Further information on these principles is available at http://www. citigroup. com/citi/citizen/people/diversity/supplierprinciples. htm. One final point regarding the ethical policies of Citi would be that they operate a 24/7 ethics hotline where employees can report ethical concerns and remain anonymous to the extent that the law will allow. While it is unclear if the hotline is operated independently of Citi, (it appears as if it is not) there is a strong focus on confidentiality and although I was unable to identify the name of the individual, the Code identifies that Citi has an ethics officer. Leadership It is the responsibility of a leader to establish and foster the organizational climate. The leader’s ability to cast shadow or shed light will permeate throughout an organization and ultimately shape the culture. In short, regardless of who is named the formal ethics officer, the leader of the organization is charged with that duty. Citi is managed by an executive team of 24 senior leaders from key regions and divisions across Citigroup’s global network. While the ethnic origins of the executive are not specifically mentioned, there appears to be a wide range of ethnic backgrounds on the executive committee. Unlike the Board of Directors however, the executive committee has only 1 woman, Cece Stewart who is the president of US, Consumer and Commercial Banking. Citi maintains a compensation philosophy that attempts to align compensation with their overall Mission statement. The key objectives of this philosophy are to; enhance shareholder value; attract talent; recognize contributions; manage risk; provide independent oversight; and transparency to all stakeholders. You can visit http://www. citigroup. com/citi/investor/data/comp_phil_policy. df? ieNocache=340 for further information on Citi’s compensation policy. Some evidence to support the integrity of Citi’s compensation practices would be that, according to the 2011 Proxy Statement, as part of the process for making incentive awards for 2011, the Personal and Compensation committee considered the April 2011 â€Å"say on pay† vote which received as 92. 9% favorable. Perhaps the vote was biased upwards as a result of Pandit’s decision to only accept a â€Å"total† compensation package of $1 for 2010, and most of 2009? While I was unable to find any concise data that represents the pay gap between the top executives and the front line employees, I am pretty confident that for all of 2010, and the better part of 2009, the CEO was the lowest paid employee of Citi. The table on the following page provides some compensation data for the past 3 years for the key senior executives of Citi. 3 Change in Value of Deferred All Other Compensation Compenstion ($) ($) 0 0 0 73,047 51,995 49,117 0 0 0 0 14,700 0 3,750 14,700 9,800 14,700 14,700 9,800 14,700 14,700 Executive Member Year Salary ($) 1,671,370 1 125,001 500,000 500,000 416,667 500,000 500,000 500,000 500,000 Bonus ($) 5,331,452 0 0 2,200,000 Stock Awards ($) 0 0 0 Option Awards ($) 7,839,581 0 0 Total ($) 14,857,103 1 128,751 7,160,916 4,728,462 5,063,817 12,984,481 9,509,800 11,276,454 11,354,536 0 0 11,446,900 10,116,895 10,400,007 Vikram Pandit CEO John Gerspach CFO John Havens COO Brian Leach Chief Risk Officer Manuel Medina-Mora CEO Latin America 2011 2010 2009 2011 2010 2009 2011 2010 2009 2011 2,333,333 2,039,836 4,166,667 4,583,333 4,750,000 2,719,781 9,000,000 10,327,374 434,380 5,400,000 2,039,836 5,000,000 3,400,000 2011 2010 2009 546,966 546,966 546,966 4,181,214 0 0 3,998,939 2,719,781 7,450,911 0 9,328,010 361,984 2,119,018 163,047 0 0 0 Source: taken from the 2011 Citi Proxy Report While on the surface, multimillion dollar compensation packages may appear egregious, however, for each of the executives above, approximately 50% of the total compensation package is deferred and/or exists under a multiyear vesting provision that is not only tied to tenure at Citi, it is direct ly tied to the performance of the organization. For 2011, there does appear to be a â€Å"traditional† pay gap between the CEO and the other â€Å"C’s† and I suspect that the gap widens significantly as you move down to the front line workers. By looking at just the total cash (salary and bonus) component of the compensation packages that range from a low of $2. 5 million to a high of $7 million, many people will undoubtedly feel several of the other condemning emotions. But to add a little perspective, for 2011, Citi’s charitable giving was more than 2 times the value of the total (cash and deferred) executive compensation of the individuals above. Also, at a total of $6. 4 billion, the 2011 commitment to climate change initiatives represented over 8% of Citi’s 2011 revenues, and almost 60% of net income. I must admit, besides a little wallet envy, I feel mostly admiration for the work, both social and economic that the leadership of Citi has done that started in 2005, was derailed during the financial crisis, and has continued over the past few years. Based on this evidence, I would challenge an assertion that the current management is hoarding rewards at the expense of all other stakeholders. When Prince took over leadership of Citi in 2005, his calm, intellectual demeanor was quite the opposite of the â€Å"larger than life† charismatic CEO that preceded him. Since taking over from Prince in 2007, Pandit appears to have followed by example and has demonstrated some remarkable unselfish actions as he navigated Citi through the biggest financial crisis since the Great Depression. Despite the critics of the financial industry, Citi, through sound leadership, ranks well on the triple bottom line accounting metrics that forms the foundation of Corporate Social Responsibility. Corporate Social Responsibility (CSR) One of the biggest criticisms of CSR reporting is that it is simply a public relations tool designed as window dressing to improve image. After the financial crisis of 2008, no other industry would have as many critics as the financial industry. To provide a little evidence of the integrity of an organization’s CSR claims may help st soothe the critics. Since the early part of the 21 century, Citi has been consistently been a constituent company of the Dow Jones World and North America Sustainability Indexes as well as the FTSE 4Good Index, and in 2011, Citi also became a component of the STOXX Global ESG Leaders indices. It is clear that the CSR activities of Citi are being recognized outside the organization and may have a little more credibility than window dressing. Citi defines its Corporate Social Responsibility framework as Global Citizenship. The three key focus areas of their citizenship efforts are; delivering financial solutions at affordable costs, sustaining the environment 4 and valuing Citi employees. Progress towards these three focus areas are provided as a summary page within the Global Citizenship report, but also as separate publication (attached as Appendix A). There are four key metrics for Financial Inclusion performance indicator. First, they provide charitable contributions (Strategic Giving), which at $121. 9 million for 2011 (1. % of net income), and represents an average annual growth rate of 13% since the end of the financial crisis in 2008. Second, is Small Business Lending, which at almost $8 billion for 2011, has grown by 75% since 2009, and actually surpassed the 2011 goal of $7 billion. nd The third metric is the provision of affordable housing lending, which at $2. 0 billion, places Citi, for the 2 consecutive year , the top affordable housing lender in the US. The final metric under Financial Inclusion is Global Microfinance. In 2011, Citi has provided microloans to almost one million lenders of which 92% of loans where to women. Under sustaining the environment performance indicator, Citi includes metrics for e-communications, clean energy, greenhouse gas emissions and using ESRM screening criteria for financial transactions. As one of the world’s leading credit card companies, Citi’s movement towards paperless statements has, at 29% penetration (2011), doubled since 2008. Under the clean energy metric, in 2007, Citi announced a 10 year, $50 billion commitment to activities directed at mitigating climate change. As of the end of 2011, 5 years in to the program, 73% of the total has been committed. Under the greenhouse gas emissions metric, in 2005, Citi announced a 10 year plan for a 25% reducing in greenhouse gas emissions. As of 2011, there has been a 13. 6% percent reduction since the 2005 baseline. In 2011, the integration of environmental and social factors into the traditional risk management screens for project financing covered over 400 projects globally. Citi appears to have a significant focus on environmental concerns through written policies and statements as well as real action. Further information on Citi’s position on the environment and their ESRM polices can be found at http://www. itigroup. com/citi/environment/ The final area covered under the report card is the metrics that cover the way Citi values their employees. The key metrics are; training; satisfaction; diversity; and employee volunteering. Citi has a very diverse workforce, and though 61 network groups consisting of 15,000 employee members in 18 locations around the world, Citi encourages emp loyee diversity and support. Employee satisfaction has been increasing since the end of the financial crisis and at 73% satisfaction for 2011; it represents an overall 10% increase since 2009. It is unclear whether the increase in a result of simply happy to have a job in a tough economy, or true job satisfaction, in any event, Citi appears to have a more satisfied workforce. Employee training has seen a remarkable increase since the 2008 financial crises. Training activities cover areas such as, leadership, management, product and compliance and since 2008; training hours have increased by over 80% at 38. 4 hours per year per employee. Employees of Citi provided almost 800,000 hours of volunteering activities during 2011, almost 30% growth over 2010. It seems that giving back to the community not only is evidenced by financial metrics but also by the employee’s action. Although Citi’s key performance indicators focus on; Financial Inclusion; Environmental Sustainability; and Valuing our Employees, the Global Citizenship report is quite extensive and can be viewed as a supplement to the Citi Annual Report. In addition to the three key focus areas covered above, the report also covers corporate governance, which is covered in the section that follows, as well as, how Citi serves the customer and maintains sustainable and diverse supply chain relationships. The report outlines both Citi’s achievements as well as the challenges they face and breaks down Citizenship on a regional basis. In guiding their citizenship activities, Citi uses a stakeholder engagement approach to and list their stakeholders as; Customers; Investors; Employees; Regulators; Suppliers; Community Leaders; Non-Governmental Organizations (NGO’s); Socially Responsible Investors; Media; and Competitors. The communication channel used for each stakeholder and examples are included as Appendix B. Corporate Governance Corporate Governance has been defined as â€Å"The framework of rules and practices by which a board of directors ensures accountability, fairness, and transparency in a company’s relationship with its stakeholders (financiers, customers, management, employees, government, and the community). † (Governance, 2012). As an appendix to the annual proxy statement, Citi provides the Citigroup Inc. Corporate Governance Guidelines. Consistent with the overall corporate mission, the corporate governance mission is†¦Ã¢â‚¬ Citigroup Inc. the â€Å"Company†) aspires to the highest standards of corporate governance and ethical conduct: doing what we say; reporting results with accuracy and transparency; and maintaining full compliance with the laws, rules and regulations that govern the Company’s businesses. † (Citi Governance, 2012). This comprehensive document outlines the guidelines and policies with respect to the responsibilities, term, expected qualifications, and compensation of the Board and the committees thereof. Of notable mention in the governance policy would be the restriction against interlocking directorates, the requirement for personal stock ownership, and the annual review and assessment of board performance conducted by the Nomination, Governance and Public Affairs Committee. 5 One shortfall of the policy would be the lack of any set term for a board member. While there are two schools of thought with respect to fixed term appointments, in my opinion, the advantage of bringing in fresh ideas with new board members would outweigh any potential loss of knowledge that would exit with an entrenched board member. I believe staggered board appointments with fixed term would be an enhancement to the Citi corporate governance policy. As mentioned in the Ethics and Compliance Codes section above, as a requirement to list on the NYSE, a company is required to have a formal code of ethics. In addition to this requirement, the NYSE also requires a minimum standard for the independence of directors. To meet the regulation, Citi would need a minimum of 9 independent directors. At the end of 2011, 11 of the 13 member board were independent. The two connected members were Pandit, and the Citi Chairman, Michael O’Neill. The remaining board members consist of a diverse group of active and retired business professionals, a philanthropic foundation president, a former state federal reserve bank official, a leader from the investment management community as well as Ivey league academics. Although only 3 of the board members are women, almost 40% of the members are visible minorities which also includes the Chairman and the CEO of Citi. Simply put, the Board of Directors of Citi is comprised of a very comprehensive representation of their stakeholder groups as identified in Appendix B. As of 2011, there are 5 standing committees of the Board: Audit; Risk Management and Finance; Executive; Personnel and Compensation; and Nomination, Governance and Public Affairs. A separate Charter exists for each committee that outlines the mission, duties and requirements regarding independence of the committee members. The Audit and Risk management committee is comprised of all independent directors. O’Neill is the current Chair of the Executive as well as the Personnel and Compensation Committees (non-voting) and he sits as a voting member of the Nomination, Governance and Public Affairs Committee. Among other roles, the Nomination, Governance and Public Affairs Committee is responsible for the environmental sustainability and stakeholder engagement activities of Citi. Since 2005, non-employee directors receive $75,000 per year plus a deferred stock award valued at $150,000 on the date of issuance with a 2 year vesting period. With the requirement to own stock of Citi, as well as the deferred vesting of the majority of the compensation they will receive, directors of Citi are incented to act in the best interest of the organization. SEC Investigations As a publicly traded, multinational, diversified financial services organization, incorporated in the U. S. , it should not come as any surprise that in the course of their business dealings, both the organization and the individual staff of Citi will be subject to SEC litigations and investigations on a frequent basis. In fact, a search on the SEC website (http://www. sec. gov/litigation. shtml), and filtering the search parameters to include only â€Å"Litigation† and â€Å"Regulatory Actions† you will actually find too many to list. In fact, since January 1, 2005, there have been a total of 284 Regulatory Actions and 140 Litigations that has Citi named. It would be quite misleading to state that all litigations listed Citi as the defendant, however from my brief review of some of the search results there appears to be complaints related to the accounting treatment of credit derivatives, fair value misstatements of sub-prime mortgage exposure, many of which listed most of the financial services industry. There was however one interesting investigation made in 2008 that questioned the independence of the Board of Directors. While I can’t comment too much on the ethical leadership of the firm leading up to the financial crisis, evidence such as the highly publicized investigations, along with the involvement in Worldcom and other major financial collapses, certainly cast a shadow on the past activities. However, during the tenure of the current CEO, as well as his predecessor, the Board of Directors appear to have addressed many of the high level governance ethical shortcomings that were past investigations by the SEC. Conclusion Perhaps the most difficult aspect of conducting a review of an organization is coming to a definitive stance, based on concrete evidence, on the degree of ethical culture that exists inside the organization. Without living inside an organization, how can you state that ethical conduct permeates across all aspects of the firm activities? Operating in an industry that has undoubtedly has the highest level of public cynicism regarding ethical conduct, how could anyone take the stance that any financial services company scores well from any ethical standpoint? Despite this challenge, my impression from this review is that Citi does indeed rank well. Since taking over the firm in 2007, carrying on from Prince’s â€Å"Five Point Ethics Plan†, Pandit, has lead the firm back on firmer financial ground by shedding much of the troubled assets and refocusing the operation more towards a traditional banking model. Despite participating in the TARP and subsequently paying back all funds borrowed, under Pandit’s leadership, Citi has become one of the best capitalized banks in the U. S. He won high 6 praise from public opinion by accepting a total compensation package of $1 for most of 2009 and all of 2010, becoming undoubtedly, the lowest paid employee of Citi. Those types of unselfish acts, despite his personal net worth, should be viewed as a sign of an admirable leadership style. The critics statement that he doesn’t need/deserve the money is, in my opinion, ludicrous and shouldn’t overshadow what is a truly admirable action. An ethical culture starts with an ethical leader posed ready to lead by example and in my opinion, by his example, Mr. Pandit ranks very well. In addition to the profit motive, Citi approaches it business with a demonstrated commitment to environmental and social key performance metrics, engaging with all stakeholders, going above and beyond the simple legal requirements and acting as an agent of moral influence with suppliers. Adding to this ethical framework a very committed CEO, a strong board representing stakeholders, and ethics training, it’s hard to argue that the firm lacks a robust ethical framework. It appears as if the vision of Prince continues to be embraced by Pandit and Citi’s current leadership. While it may be a long road ahead in the court of public opinion, Citi appears to be on the right track to shed the degree of cynicism the financial industry has, but like most future outcomes, only time will tell. 7 References How to cite Ethical Analysis of Citigroup, Essay examples

Oral Language Activities for Promoting an Understanding Essay Sample free essay sample

Oral linguistic communication is a cardinal facet of the future literacy of kids. as it goes a far manner toward advancing many of the accomplishments contained in reading. composing. and linguistic communication humanistic disciplines. The encouragement of unwritten linguistic communication in kids allows them to pattern their voice and verbal agreement accomplishments in an organic and real-world scene. Talking in order to be understood is kindred to composing for the intent of allowing others understand one’s ideas. In the same manner. hearing and decoding the significances contained in the unwritten communicating of others is similar to the cognitive exercising that goes on in the head while reading. Practice with unwritten linguistic communication. hence. gives a kid a head start in understanding the methods of reading comprehension and authorship. Oral linguistic communication is besides a method through which kids may larn incidental vocabulary. Bing exposed to linguistic communication in a existent life puting allows them to larn and utilize new words in an synergistic manner that is likely to advance memory and proper use. We will write a custom essay sample on Oral Language Activities for Promoting an Understanding Essay Sample or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page This signifier of acquisition is kindred to the constructivist type of cognition that is advocated by such developmental psychologists as Vygotsky. Bruner and Piaget. The kid expands non merely his/her cognition of the linguistic communication. but besides the ability to show him-/herself. Children’s acquaintance with unwritten linguistic communication and the ability to show themselves in this manner requires that they develop a certain consciousness of the different phonemes that exist within the linguistic communication. Such unwritten linguistic communication accomplishments besides require that kids be able to understand the differences among the array of phonemes and be able to blend and pull strings them to make apprehensible sounds. This is the really beginning of phonemic consciousness. and hence unwritten linguistic communication pattern helps the kid develop accomplishments that will subsequently be required in phonics direction ( Lesaux. 2006 ) . Diversity instruction has a linguistic communication constituent. as cultural differences besides come out in the idioms that kids are likely to hear and talk ( Colquit. 1975 ) . It is frequently the instance that dialects highlight the variableness that frequently exists within the phonetics of a linguistic communication ( particularly English ) . Exposure to unwritten linguistic communication gives kids the opportunity to hear similar words being spoken in different ways. and this allows them to convey a kind of verbal flexibleness to the acquisition of reading. Such flexibleness is good. as it is frequently the instance that phoneme permutation ( particularly for English vowels such characters as g and degree Celsius ) AIDSs in the pronunciation of slippery words. In-class reading and comprehension direction may besides include an unwritten linguistic communication constituent. Read-alouds promote the hearing and attending accomplishments that are of import for children’s comprehension and the development of the ability to transport out instructions. It besides aids in patterning to kids how reading should sound. and this gives them a benchmark for emulation in their ain reading. Finally. read-alouds are a signifier of unwritten linguistic communication pattern that promote reading as a merriment and gratifying activity that is worth making even when the kid is entirely. Phonemic consciousness and phonological consciousness are footings that have to make with cognitive consciousness and accomplishment development of kids ( and grownups ) as it regards the development of linguistic communication accomplishments. Phonemic consciousness is defined as the comprehension of the fact that different sounds exist within a linguistic communication and a acquaintance with the nature of those differences. It besides includes the ability to separate these separate address sounds one from another ( Reutzel A ; Cooter. 2005 ) . This signifier of consciousness is what is present when one understands that the sounds contained in different words. such as â€Å"yes† and â€Å"no. † are so separate and hence distinguish the words from each other. Phonemes are sounds. and kids who have a basic apprehension of them and how they work are considered as being phonemically cognizant. Since phonemes differ from letters. phonemic consciousness must predate phonic s direction. as it is the footing upon which such direction must be built. Phonological consciousness is a broader term that encompasses a great trade that has to make with sounds and the use of those sounds within a linguistic communication. The term phonological refers to the sounds that exist within a certain linguistic communication. and while phonemes represent the simplest sounds. phonemics encompasses all sounds ( Reutzel A ; Cooter. 2005 ) . Therefore. while phonemic consciousness would be concerned with the sound /s/ that corresponds to the character found at the beginning of the word â€Å"soap. † phonological consciousness is concerned with that every bit good as the other features of its sound. This might include. for illustration. how â€Å"soap† might rime with other words or the figure of syllables one hears when the word is spoken. Other phonological facets of linguistic communication may include the perennial usage of similar oncomings within a sentence or poetry ( initial rhyme ) or the sounds used in a verse form that corre spond to natural sounds within the environment ( onomatopoeia ) . Phonemic consciousness provides a foundation upon which the alphabetic rule might be laid. This rule denotes the development of an ability to do connexions between sounds found within a linguistic communication ( phonemes ) and letters contained within its alphabet. Association and use these sounds make the alphabet rule an built-in portion of developing within ( and spring-boarding from ) the wide country of phonological consciousness. This rule includes the apprehension that words are made up of symbols ( letters or characters ) that represent the sounds of the linguistic communication. Substitution of sounds for these letters is a method of decrypting the linguistic communication. A good appreciation of these facets of linguistic communication promotes greater ability to read and understand text. Bringing these three facets together creates a wide spectrum of understanding for the kid and gives him/her an array of accomplishments that are necessary to the edifice a strong linguistic communication foundation. It begins with phonemic consciousness. which is confined to the kingdom of understanding the differences between single phonemes. Phonological consciousness goes beyond this to include larger types of sounds. such as syllables. oncomings. frosts. and whole words. This type of consciousness points out similarities and differences within words that will help the memorisation of certain conventions of the linguistic communication. The alphabetic rule physiques on these by supplying a codification through which linguistic communication can be translated from the kingdom of unwritten into the kingdom of written. Mentions Colquit. J. L. ( 1975 ) . â€Å"Oral Language Activities for Promoting an Understanding and Appreciation of Dialectal Differences. †Clearing House. 49 ( 3 ) : 135-38. Lesaux. N. K. ( 2006 ) . â€Å"Diversity and development: advancing early literacy accomplishments in ELL’s. †Reading First Conference.Sturbridge. Ma: Harvard Graduate School of Education. Available: World Wide Web. Department of Energy. mass. edu/read/presentations/lesaux_readingfirst. pps Reutzel. D. R. A ; R. B. Cooter. ( 2005 ) .The necessities of learning kids to read.Upper Saddle River: Pearson Education.