Describe the relationship between media and reality Essay

Describe the relationship between media and reality - Essay Example The media can be considered a very influential representation to reality through the essential elements of selection, construction and representation. Each media form, whether electronic or print, process social constructs of an image of event, story, and this may differ to what the society experience in reality (dl.nfsa.gov, Representation). With the two competing theories on media, manipulation theory is more accurate. According to Noam Chamsky, there are 10 strategies of manipulation by the media, taking note on reality TV. The first is the strategy of distraction. According to Chomsky, â€Å"the key element of social control is the strategy of distraction that is to divert public attention from important issues and changes decided by political and economic elites, through the technique of flood or flooding continuous distractions and insignificant information. The strategy of distraction is also essential to keep the public interested in the essential knowledge in science, econo mics, psychology, neurobiology, and cybernetics.† The second strategy is to create problems after offering solution. Chomsky referred to this strategy as "problem-reaction-solution" which creates a problem, a "situation" due to cause some reaction in public, so that it is the principal measures that want to accept. Third strategy is gradation aims to make it accept an unacceptable extent, simply apply it gradually, a dropper, for consecutive years (Chomsky, n.d.). Fourth strategy is defer which Chomsky believes that another way to create an unpopular decision to accept is to present it as "painful and necessary" in obtaining public acceptance for the moment for a future application. It is easier to accept that a future sacrifice of an immediate sacrifice. Fifth strategy according to Chomsky is addressing public as children. This refers to the public as a younger child where characters, arguments and any discourse are performed in children’s intonation. The next strategy is to use the emotional aspect much more than a reflection. Chomsky put it in a way that â€Å"making use of emotional aspect is a classic technique to cause a short circuit on rational analysis, and finally to the critical sense of individuals.† Seventh strategy is to keep the public in ignorance and mediocrity. Next strategy is to stimulate the public to be complacent mediocrity (Chomsky, n.d.). Ninth strategy of manipulation of media is strengthening the revolt and lastly is the strategy of the best guys knows what they know if the same. This last strategy portrays that the system has more control and great power over individuals than the individuals themselves (Chomsky, n.d.). I love Lucy and Rosie movies were sit-coms which movies were made after the success of the shows. I love Lucy was able to portray a happy couple who lived in a modest apartment in New York. In this movie, the couple were in pursuit of success and wealth. This sitcom and movie was ranked very high i n the country. Thus through the theory of manipulation, the audience can be manipulated to believe in the lifestyle portrayed by the couple in the sitcom and the movie. The husband Ricky, is a Cuban born bandleader in Tropicana, loves his wife very much. Despite the shortcomings of Lucy in her career in showbiz and different get-rich-quick schemes, Ricky was forgiving and stayed beside her all throughout. Rosie on the other hand,

Nowhere Without A Mentor Essay Example for Free

Nowhere Without A Mentor Essay As the journey called life unfolds, imagine what one would be without mentors. Mentor is a vague word used to describe a person who helps another, who is trusted by another, who is a counselor to another, but most of all is someone who influences another. With no mentors or guides the title character in the novel Siddhartha by Herman Hesse, would not have found self. The three characters that have the greatest influence on Siddhartha are Gotama Buddha, Kamala and Vasudeva. From Gotama Buddha, Siddhartha realizes he would rather walk his own path than follow anothers. After pursuing Buddhas followings with his companion Govinda, Siddhartha has a revelation while he is conversing with Gotama. That is why I am going on my way- not to seek another and better doctrine, for I know there is none, but to leave all doctrines and all teachers and to reach my goal alone- or die (34). This quote shows how Gotama has influenced Siddhartha to seek Self unaccompanied, marking a significant turning point in Siddharthas journey. Subsequent to Siddharthas encounter with Buddha, he meets a beautiful woman named Kamala who drastically changes him. The author of Siddhartha explains in detail how the title character slowly takes on characteristics of average citizens while living with Kamala. Gradually, along with his growing riches, Siddhartha himself acquired some of the characteristics of the ordinary people, some of their childishness and some of their anxiety(77). At this point in the novel, Siddhartha begins to be disgusted with himself, and recognizes that life with Kamala is not the place he should be in to find peace. Shortly after he apprehends this, Siddhartha leaves Kamala only to find a peaceful Ferryman, named Vasudeva who introduces Siddhartha to a river. In the following quote, Vasudeva explains to Siddhartha the power of the river that they live by. The river knows everything; one can learn everything from it'(105). This quote shows how Vasudeva introduced Siddhartha to the river that led him to find peace. After Siddharthas long journey and his encounters with many people who influence him, he finds peace within himself. The three characters that have  the greatest influence on Siddhartha are Gotama Buddha, Kamala and Vasudeva. Gotama Buddha helps Siddhartha realize that peace is found without teachers, Kamala changes Siddhartha into an ordinary citizen and Vasudeva introduces Siddhartha to a river that leads him to find peace. Although Siddhartha has much help during his journey to find peace, his own strong will is the deciding factor in him reaching his goal.

The Popularity Of Hollywood Movies Media Essay

The Popularity Of Hollywood Movies Media Essay It is believed that Hollywood is the greatest national source of entertainment for many people of all ages, races, sexes, and ethnicities. Hollywood movie industry depicts numerous images of a variety of races throughout its films for more than nine and a half billion dollars in 2002 (U.S. Census Abstracts, 2002). Despite the wide variety of shows, movies and images produced by Hollywood, audience of various backgrounds are allowed to generate thoughts, views, and opinions that go a long with their own perceptions. Therefore, many films appear to be non-redundant and convenient though they implicitly include wide variety of repeated plots, characters, and specific characteristics. Regardless of the quality level of movies, they last for long times as they are hard to be imitated or changed. Plato states, in the Republic, those who tell the stories also rule society (Shaheen, 2001, p. 5). The most effective images are those left behind contributing in shaping audiences beliefs, opinions and attitudes toward certain events and nations. Arab and Muslim culture was a main target and content for Hollywood movie industry. Savage (2002) believes that Hollywood films have a major influence on the American public, and millions of people have grown up believing that they know Arab and Muslim culture through what they view on the big screen (Savage, 2002, p. 8). Hollywood movie industry has strongly established its popularity in the United States and worldwide. According to Shaheen (2001), Hollywoods motion pictures reach nearly everyone. Cinematic illusions are created, nurtured, and distributed world-wide, reaching more than 100 countriesà ¢Ã¢â€š ¬Ã‚ ¦No sooner do contemporary features leave the movie theaters than they are available in video storesà ¢Ã¢â€š ¬Ã‚ ¦ (Shaheen, 2001, p. 5). Teenagers and children were one of the most affected audiences by the sustained popularity of Hollywood movies. Shaheen (2001) remarks that à ¢Ã¢â€š ¬Ã‚ ¦teenagers are avid moviegoers and nowadays purchase four out of ten movie tickets (Shaheen, 2001, p. 5). It is also noted that Hollywood movies and American media are consumed by 150 nations worldwide (Shaheen, 2002). However, the meanings of images conveyed by Hollywood movies to audiences play a crucial role in shaping various stereotypes of peoples. Paul (1998) comments on research findings saying lat erally, Studies indicate that stereotypes are automatically or unconsciously generated in the mind, and that categorizing is an important part of the mental process of evaluating the world (Paul, 1998, p. 52). Hollywood filmmakers employ various stereotypes as an effective tool that establishes protagonists and antagonists; however, frequent appearance of Arabs in antagonistic roles affects audience to believe that such shows are real and true. The stereotypical myths about Arabs reach beyond ordinary audience to become self-perpetuating when more films adopt the same premises. El-Farra (1996) states, it is the myths about Arabs which often inspire directors, producers and screenwriters to develop a product which is then based on stereotypes (El-Farra, 1996, pp. 4-5). Stereotypes Existence and Harm According to Paul (1998), the stereotypes explain why things are the way they are. Other scholars believe that A person develops stereotypes about a groupà ¢Ã¢â€š ¬Ã‚ ¦from information and disinformation, distortions, and/or opinions made available through family, friends, and the media (Abreu, Ramirez, Kim, Haddy, 2003, p. 693). Generally speaking, stereotypes can negatively affect any race, ethnicity, or a group of people if the negative implications about such groups are synonymous with their members. Abreu et al ( 2003) say that à ¢Ã¢â€š ¬Ã‚ ¦when one perceives an individual as a member of a particular stereotyped group, the perceivers mind activates the group-relevant cognitive structure and processesà ¢Ã¢â€š ¬Ã‚ ¦judgments and attitudes within the framework of that particular stereotype (Abreu et al., p. 693). Crocker and Major (cited in Pitner, Astor, Benbenishty, Haj-Yahia, Zeira, 2003) report, holding negative beliefs about other groups is functional in that it could bo lster the image and esteem of ones own group. Therefore, Hollywood movie makers can portray some races as favorable for audience whereas others cultures are placed in the negative side of audiences awareness. Several of Hollywoods most blatant patterns of bias fall within the categories of race, ethnicity and/or national origin included in this group are negative and/or stereotypical portrayals of Arabs and Arab-Americansà ¢Ã¢â€š ¬Ã‚ ¦ (Cones, 1998). All races may be shown as negative groups at certain times; however, some races such as Arabs and Arab-Americans are featured negatively all the time. Seen through Hollywoods distorted lenses, Arabs look different and threatening. Projected along racial and religious lines, the stereotypes are deeply ingrained in American cinema. From 1896 until today, filmmakers have collectively indicted all Arabs as Public Enemy #1- brutal, heartless, uncivilized religious fanatics and money-mad cultural others bent on terrorizing civilized Westerners, especially Christians and Jews. (Shaheen, 2001, p. 2) Several terroristic events which took place before September 11 had been exploited by media and Hollywood movie makers to show Arabs as terrorists in spite that Arabs were not involved in those events. For example, Arabs were blame for the bombings of Oklahoma City and World Trade Center even before investigations launched, and all Arabs were blamed for the invasion of Kuwait by only one Arab country (Iraq). These events were used to convey a message to public saying that Arabs cannot be trusted since they support crimes and mass destruction against humanity as a whole. Popular culture of any people is formed in part through their knowledge and experiences which are mostly acquired by mass media. Shaheen (2001) believes that individuals are influenced by a continuous flow of seen one, seen em all headlines (Shaheen, 2001, p. 28). Therefore, Hollywood movie industry depends upon current evets and headlines to influence their desired perception for purposeful goals when producing new movies. According to Goodstein (1998), Each set of villains reflected headlines and anxieties of its eraà ¢Ã¢â€š ¬Ã‚ ¦with Soviet pretensions shattered and aliens from outer space passà ©, the new cinematic enemy is the Muslim extremist. Stereotypes and Myths About Muslims, Arabs and Arab-Americans El-Farra (1996) defines a stereotype as the creation of a biased opinion or view- an individual will take the behavior of one person and state that all people belonging to that particular group, be it an ethnic, religious or social group, behave in the same manner (El-Farra, 1996, p.1). In this sense, Hollywood portrays target groups stereotypes as absolute truths ignoring the fact that there is only some truth born by these stereotypes. However, focusing on and encouraging positive portrays of certain stereotypes make audience view all related members positively. It is believed that in spite of many procedures have been taken to improve stereotypes of certain racial and ethnic stereotypes, Shaheen (2001) thinks that Hollywoods stereotype of Arabs remained the same. Over the last three decades stereotypical portraits have actually increased in number and virulence (Shaheen,2001, p. 28). Portraying Arabs in negative roles all the time even through fictitious stories rather than factual ones whether in movies or TV shows leaves audience more likely to view Arabs as if they really act the roles portrayed in movies and shows and thus public think that all Arabs can only behave accordingly. Therefore, such negative portrayals of Arabs enhance the publics biased judgments, views or attitudes toward Arabs nation and culture. After years of virtual invisibility, Arab-Americans are finally finding prominence in Hollywood movies- as terrorists and villains. They are only the latest in a long line of ethnic groups and nationalities cast in stereotypical bad-guy rolesà ¢Ã¢â€š ¬Ã‚ ¦ (Goodstein, 1998). According to Shaheen ( 2001 ), there are four types of myths that pertain to the Arabs and Arab-Americans stereotypes: They are all fabulously wealthy, they are barbarians and uncultured, they are sex maniacs with a penchant for white slavery, and they revel in acts of terrorism (El-Farra,1996, p. 2). Such myths about intentionally imagined Arabs stereotype encourage all participants of Hollywood movie industry including directors, producers, and screenwriters to make their films and TV shows accordingly. In fact, scholars find it hard to explain these representations of Arabs. For example, Shaheen admits such dilemma stating, à ¢Ã¢â€š ¬Ã‚ ¦I cant say the celluloid Arab has changed. That is the problem. He is what he has always been-the cultural other. In fact Arabs are not the only group that is exposed to negative portrayals of Hollywood. Some critics remark that other minorities stereotypes such as African-Americans and Latinos have been characterized as offensive. Shaheen (2001) stated that History reminds us that the cinemas hateful Arab stereotypes are reminiscent of abuses in earlier times. Not so long ago-and sometimes still-Asians, American Indians, blacks, and Jews were vilified (Shaheen, 2001, p. 4). On the other hand, Cones (1998) believes that there is no such constraint on depicting Arabs as oily and oversexed or shifty-eyed and violent (Cones, 1998). Therefore, it is noted that in spite of the sufferings Arabs and Arab-Americans face as a result of untrue images in the public eyes, Hollywood does nothing to improve or change the current situation of Arabs image in public eyes. This view can be understood and interpreted appropriately if one considers how Hollywood plays a crucial role in directing hatred against Arabs and Arab-Americans. To achieve success in this regard, Hollywood has employed its pre-identified image of Arabs as evils and enemies of humanity in many related media productions (Savage, 2002, p. 7). However, the frequent work of portraying certain stereotypes negatively may not achieve the expected profits for Hollywood movie industry since they would exclude those races and ethnicities members from lists of consumers. Those ethnicities would view such negative images of their cultures as offensive which may reduce their interests in Hollywood productions. Therefore, Hollywood movie makers may think that audience of various backgrounds particularly Arabs would be open-minded enough to view such media campaigns against them as entertainment rather than vicious anti-Arab propaganda. In case that such audiences were not up to Hollywood expectations, Hollywood may have done serious and critical risks in that it would not only threaten its industry but would also contribute to the creation of national and international political struggles that are based on racism and religious discrimination. (Cones, 1998). A group of factors underlie the exposure of Arab stereotype to negative images in Hollywood. These factors include political reasons, profitable box offices, apathy, and the absence of Arab-Americans in the industry. However, Shaheen (2001) ironically says: the fact remains: You can hit an Arab free; theyre free enemies, free villains, where you couldnt do it to a Jew or you cant do it to a black anymore, affirms Sam Keen(Shaheen, 2001, p. 6). The negative image of Arabs in Hollywood productions could also be attributed to what other minorities experienced along the course of forming their cultural awareness and experiences in that Hollywood aims at founding a bad-guy whom exists as battle fuel in movie industry. This is certainly easier for movie makers than attempting to establish other stereotypes in the mentality of the mainstream society. Hollywood audience especially American people have little knowledge about Arabs and Arab-Americans. The main sources of knowledge about Arabs multi-culture are represented for Americans through depictions provided by Hollywood movies and mass media. Convenience of audiences in what is portrayed for them regarding Arabs images may be the most important factor that support the frequent negative productions of Arabs and Arab-Americans. Shaheen believes that convenient stereotypes make it easier for movie producers to create and recreate negative images of Arabs including making good joke of Arabs and inserting a stumbling and bumbling sheikh or an Arab terrorist. Levesque (2002) states, We all know what they look like from watching movies and TV without any thought required. (Levesque, 2002). Reviewing the state of art may reveal that there is a need to create a balance of stereotypes depicted by Hollywood; however, it is believed that such notion is not insistent or pressing since there is no real action to support or at least to reduce the impacts of what is going on in Hollywood movie industry. According to Cones (1998), Hollywood movies involving Arab characters demonstrate that the U.S. film community portrays Arabs in a stereotypical manner and that little or no effort has been made by Hollywood filmmakers to balance portrayals of Arabs with positive portrayalsà ¢Ã¢â€š ¬Ã‚ ¦ (Cones, 1998). Historical, Cultural, and Religious background of Muslims, Arabs and Arab-Americans Hollywood industry may have misrepresented most information about Arabs background. It is believed that this industry associate Arabs history with negative attributes such as terrorism and violence which contributes to the process of demonization and dehumanization (Savage, 2002, p. 4). In Fact Hollywood defines the term Arab differently. For example, the word Arab is used to describe any person who is originally from the Middle East countries regardless of their diverse cultures, beliefs and religions El-Farra (1996, p.1). The term limits individuals and countries within a distinct target that is open to stereotypes and bias. However, Shaheen thinks that the term refers to the 265 million people who reside in, and the many more millions around the world who are from the 22 Arab states (Shaheen, 2001, p. 2). Historically speaking, a mixed ethnicity have existed in the Arab world which from 5000 BC to the present. According to Shaheen (2001), The Scots, Greeks, British, French, Romans, English, and others have occupied the area (p. 3). In fact, Arabs have crucially contributed to the development of human civilizations. For example, Shaheen (2001) says that Arabs have developed essential sciences that are considered bases of modern technologies including algebra and the concept of zero, for instance. He adds that many English such as algebra, chemistry and coffee are of Arab roots. Arabs proved to be pioneers in several sciences in the middle age. For example, they created and used astrolabes for navigation, star maps and celestial globes in astronomy. In addition they are the first who used the concept of the center of gravity. Moreover, the water clock is one of their conventions; besides inspired the European Gothic style in architecture. In Agriculture, the Arabs were the first nation to introduced oranges, dates, sugar and cotton and to use water irrigation nets. According to Shaheen (2001), 70 percent of the population is under the age of 30 (p. 3) who are mostly share common language, cultural heritage, and religion (Islam). That does not mean that there is non-Muslims in the Arab world as it has been thought by some. Shaheen states that Though the vast majority of them are Muslims, about 15 million Arab Christians reside there as well (Shaheen, 2001, p. 3). The same can be claimed regarding the Arab-Americans who reside in the United States. Shaheen claims that the majority of the United States Arab-American population is also Christians; about 40 percent are Muslim (Shaheen, 2001, p.3). In spite that mass media keeps attempting to show Islam as a religion of terrorism, Muslims are Americas fastest growing religious group, and they include immigrants from more than 60 nations, as well as African-Americans(Shaheen, 2001, p. 4). Hollywood movie industry and other American media prefer to show all Arabs as Muslims. Shaheen thinks that A majority of the worlds 1.1 billion Muslims are Indonesian, Indian, and Malaysian, but only 12 percent of the worlds Muslims are Arabs. Shaheen indicates that à ¢Ã¢â€š ¬Ã‚ ¦ Moviemakers ignore this realityà ¢Ã¢â€š ¬Ã‚ ¦ Repeatedly, they falsely project all Arabs as Muslims and all Muslims as Arabs. As a result viewers tend to link the same attributes to both peoples (Shaheen, 2001, p. 4). On the other hand, the religion of Islam does not go untarnished. As a result of the representations of stereotypically fanatic Arabs that are bent on destruction, Islam is assumed to be linked with acts of mass destruction and violence. Todays image makers regularly link the Islamic faith with male supremacy, holy war, and acts of terror, depicting Arab Muslims as hostile alien intruders, and as lecherous, oily sheikhs intent on using nuclear weapons (Shaheen, 2001, p. 9). It is noted that portraying Arabs and Arab-Americans by using such negative characteristics has, similarly, led to presenting Islam to most movie viewers. Shaheen (cited in El-Farra, 1996) says, In an attempt to place Islam in a category that Americans can understand, the media portrays images of Muslims as belonging to a faith of 800 million people, consisting of strange, bearded men,à ¢Ã¢â€š ¬Ã‚ ¦ in robes and turbansà ¢Ã¢â€š ¬Ã‚ ¦. According to El-Farra, the distortion of Islam leads audience to think that it is a mysterious religion prone that encourages acts of terrorism, violence, and fanaticism. These themes are maintained by movies industry (El-Farra, ). On the other hand, the majority of Hollywood movie makers and other mass media ignore basic facts about Islam including its message that calls for equality and peace. In order to show respect and appreciation for Muslim religious leaders, arabs call them as. Shaheen defines the word sheikh literally as a wise elderly person, the head of the familyà ¢Ã¢â€š ¬Ã‚ ¦ (Shaheen, 2001, p.19). However, it has completely misuded by Hollywood and moviemakers. à ¢Ã¢â€š ¬Ã‚ ¦in the 1920s he was a swarthy sheikh, wiggling his eyebrows and chasing the Western heroine around a tiled courtyard. After the 1973 oil crisis producers revitalized the image of the fabulously wealthy and slothful sheikhà ¢Ã¢â€š ¬Ã‚ ¦ (Shaheen,2001, p.19). instead of showing sheikhs as wise men or leaders of society, screenwriters often present them as stooges-in-sheets, slovenly, hook-nosed potentates intent on capturing pale-faced blondes for their harems (Shaheen, 2001, p.19). The negative image of the sheikh appeared to shift, by time, to one of excessive violence. Shaheen (2001) says that earlier movies would depict indolent sheikhs lounging on thrones. But, contemporary films pres ent oily, militant, ostentatious sheikhs reclining in Rolls Royces, aspiring to buy up chunks of America ( p. 21). Further, recent images have completely changed portrays of sheikh even from the Arab definition of the term. According to (Shaheen, 2001, p. 21), current movies introduce anti-Christian and anti-Jewish Arabs armed with nuclear weapons, and plenty of oil and cash. In fact these views are always produced in the context of Islam which is showed to justify violence against the West, Israel, and fellow Arabs. Movie makers have not drop arab women from their similar negative considerations. For example, shaheen (2002) notes that Arab women in the Middle East are portrayed mainly as bundles of black cloth, submissive harem maidens or carrying jugs on their heads. He adds that They have no identities whatsoever, and theyre always mute (Shaheen, 2002). Shaheen(2001) believes that image makers can make personal and political statements depending on the customes and steryptypes women are presented in. he adds that By covering the reel Arab woman in black and relegating her to silence, the costumer links her to oppression. But throughout the Arab world, women wear a variety of apparel. (Shaheen, 2001, p. 23). Shaheen (2001) states that Arab woman are usually portrayed with negative roles in Hollywoods movies. For instance, they usually appear with no effective acts wearing black dresses all time. Shaheen (2001) also emphasizes that even they do not have speaking or working roles. Such extreme negative portrays of Arab women in Hollywood images may lead audience to link Islam with negative message of oppression against women rights. The constant negative portrays of women and their ideology of Islam leave strong effect against the social and cultural life of Arabs and Muslims as a whole among audience. Therefore, Hollywood ignores the fact that Arab and Arab-American women can effectively be positive contributors to their society or humanity in general. Economically, Hollywood images keep drawing Arabs as the only owners and suppliers of oil around the world. Thisw results in making audience believe that arabs life is based on only oil fortune without having other economic resource to live on. On the other hand, Hollywood and in large world audience think that OPEC is an Arab organization despite the fact that only seven of the thirteen OPEC members are Arab nations. Moreover, According to El-Farra, 1996), of the five largest oil-producing countries, only one is an Arab nation, Saudi Arabia (p. 2). However, one may not be sure whether people around the world really believe that. For example, an economic editor states that the worlds supplies of oil and price levels are manipulated and controlled by greedy Arabs (El-Farra, p. 2). Such pre-identified ideas may only contribute to continuing negative attitudes toward Arabs and Arab-Americans. Current Events Involving Muslims, Arabs/Arab-Americans Large amounts of present worldwide events may also have contributed to drawing peoples attitudes, perceptions and feelings toward Arabs and Arab-Americans. Such events may have also affected Arabs image in Hollywoods eyes. For example, the Arab-Israeli conflict is considered one of the most important factors that is used to feed audiences attitudes toward Arabs. This conflict which extended along more than half a century period and still going on may have provided the American media with a rich source to portray Arabs as extremely aggressive while Israelis who are generally supported by west are innocent victims. Kressel (cited in El-Farra, 1996) believes that the American media which be considered the strongest around the world practiced unequal roles in covering the Arab Israeli conflict attempting to put Arab states as powerful ones depending on violence and aggressions in their conflict with Israel who, in turn, is portrayed as a small country found in the midst of aggressive large states. Arabs in this image are shown as those who attack Israel which tries its best to preserve democracy, freedom and its people lives. In this sense, Mark Twain (cited in Shaheen, 2001) says, We are all ignorant, just about different things. However, when it comes to the Middle East, many Americans are ignorant about the history and plight of the Palestinian people (Shaheen, 2001, p. 26). Shaheen thinks the repeated negative images about Palestinians which portrayed by Hollywood movie makers and mass media left a myth among audience that all Palestinians are the enemy of humanity, violent and extremely terrorists. Apart from Israeli-Palestinian movies supported by Hollywood, one notes that human dramas show Palestinians as a normal people who is characterized with universal humanistic attributes like all peoples. These incomparable art works with Hollywoods portray Palestinians as innocent victims whereas Israelis as non-merciful occupiers. One cannot find a Hollywood movie that present reality about Israeli soldiers and settlers who frequently attack Palestinians farms to uproot their olive orchards or threaten Palestinians lives as it appears in some media news. Shaheen (2001) states that there American movies does not show the everyday actual struggle of Palestinian families under the highly pressing occupation, Palestinian refugee camps which are considered the largest in the world, or how Palestinians are exposed to most difficult circumstances in their pursuant to get back to their own home land (Shaheen, 2001, p. 26). Research has indicated that showing Arabs as terrorists repeatedly directs American audiences attitudes to take them as enemies. According to Martin (cited in El-Farra, 1996), the word terrorism was used by the press in describing events and individuals they disapproved of. Yet, when describing these same acts by individuals who are not Arabs, the media was careful to appear neutral and unbiased. On the other hand, Shaheen states that news reports selectively and relentlessly focus on a minority of Arabs, the radical fringe. The seemingly indelible Arab-as-villain image wrongly conveys the message that the vast majority of the 265 million peace-loving Arabs are bad guys (Shaheen, 2001, p. 28). In the 1990s Arabs and Arab-Americans images got worse in American audiences eyes. For example, the Iraqi invasion of Kuwait, which led to the second Gulf War, and the 1993 bombing of the World Trade Center lead some Americans to believe that all Arabs are terrorists and that Arabs do not value human life (Shaheen, 2001, p. 29). This, in turn, strengthens the ideology that Arabs are aggressive and real enemies of America. Moreover, public opinion seems to be influenced directly by the way these events were covered in mass media. Therefore, both the intentional negative use of media against Arabs and the dominant prior stereotypical judgments were the main reasons of the continual Arab-bashing according to Shaheen (2001). Further, some movie makers found that such portrays of arabs provide them with rich opportunities to justify their productions. Shaheen remarks that the news programs which are used by some producers and directors deny that they are actually engaged in stereotyping. Shaheen reports their objection literally when they say, Were not stereotyping, just look at your television set, those are real Arabs (Shaheen, 2002, p. 29). It is noted that the disappointing use of media has been occurred through a prejudicial way presented during the issue of Okalahoma City Bombing. According to El-Farra (1996), In 1995, within minutes of the event, news reporters were insinuating that the bombing was an act of terrorists. Raised with unpopular stereotypes of Arabs, the American public was quick to develop images of Arab terrorists destroying American property (El-Farra, 1996, p.1).Government officials were also quick to point an accusatory finger at Middle Eastern terrorists. An Arab-American spokesman believes that the American people were so quick to blame Arabs for Oklahomas events as a result of Hollywood movies negative influence upon them. Cones (1998) states that most Americans, including politicians and media leaders, have been affected by Hollywood propaganda. According to El-Farra (1996), even experts of terrorism (e.g. Steven Emerson) do not believe Islamic groups when they denied involvement ( p. 1). Consequently, it was hard for the American public to attribute terrorism to Americans themselves that is why El-Farra (1996) states that terrorism appear in movies mostly points out unconsciously to Arab culture and people. El-Farra (cited in Bazzi, 1995) points to the 1995 report of American-Arab Anti-Discrimination Committee which indicates that 250% increase in hate crimes against Arabs were from the previous year (pp. 1-2). According to (Cajee, 1995), The Oklahoma Hate and Harassment Report states that along the period taken to arrest the suspect Timothy McVeigh all people of middle eastern appearance have become suspects in bombing Alfred Murrah Federal Building. Therefore, Muslims and Arabs, in particular, were the most to suffer from the bombings effects. it was also found that manifistations of arabs and American arabs of suffers i ncluded widespread fear and intimidation, commonplace verbal harassment at school, in public and in the workplace, and a significant number of physical assaults and hate crimes (Cajee, 1995). Cajee (1995) found out that reports of most serious events of hate crimes include: Reports that associated Muslims to terror bombings of Oklahoma led some angry Americans to attack an Iraqi young refugees home in Oklahoma City on April 20th and cause loss of her baby. The windows of a mosque and community center in Stillwater, Oklahoma were caused by drive-by shootings on April 19th and 20th. Using knives to attack Arabs in an apartment parking lot or beating a student in a supermarket parking lot were only some examples of physical assaults reported by students. It was reported by Local Islamic centers and some Arab or Arab-Americans that they were frequently exposed to an onslaught of hate calls. Therefore, Arabs, Arab-Americans, and similar ethnicities were the core subject of unjust and violence in a very short period of time as a result of medias aggressive influence against them. Shaheen (2001) states that Though no American of Arab descent was involved, they were instantly targeted as suspects. He adds that Speculative reporting, combined with decades of harmful stereotyping, resulted in more than 300 hate crimes against them (Shaheen, 2001, p.7). Negative stereotypes may impact the perceptions of the public particularly when they are related to their attitudes toward certain races. Moreover, such stereotypes may also affect the way some races feel about their heritage, culture, religion, and self-esteem. Repeatedly over time, movie makers in Hollywood use some images of stock caricatures to focus on. For instance, American Arabs or Muslims are frequently shown as members of isolated communities until audience believe that Muslims are entirely different from other Americans (Shaheen, 2002). Therefore, movies which include true depiction of Arabs and Islamic culture seems to be nonsexist in Hollywood most of the time. In fact, there is a big need for founding new positive images of Arabs and Muslims in American movies and mass media. However, most Arabs and American Arabs believe that they are a subject of embarrassment whenever they have to replace audiences negative attitudes towards them by more objective ones. This sociological and psychological dilemma is strongly exist among Arabs and Muslims themselves who live in America. The most affected category in this regard in the children. In order to avoid embarrassments resulted from the wide influence of media and Hollywood movies upon Arabs, one can easily note how Arabs avoid introducing themselves as Arabs or Muslims. For example, it is noted that they deny their original identities saying literally, Im not Arab, Im Spanish, or Im Italian. Therefore, the widespread of negative attitudes toward Arabs results in killing Arabic heritage and leaving feelings of shame among Arabs (Shaheen, 2002). According to Monteith (cited in Paul, 1998), by five years of age, many children have definite stereotypes about blacks, women, and other social groups. He adds, Children do not have a choice about accepting or rejecting these conceptions, since theyre acquired well before they have their own cognitive abilities or experiences to form their own beliefsà ¢Ã¢â€š ¬Ã‚ ¦ they must compete with all the forces that would promote and perpetuate these stereotypes: peer pressure, mass media (p. 58). In the same sense, at a time Arab youth learn negative stereotypes of Hollywood movies, arab children would find it hard to go long with this image as long as they have their own Arabic heritage. According to Shaheen (2001), the persistent images of Arabs in media and movies contributes, to great degree, in shaping their perceptions towards themselves and

The Oak Tree: A Symbol For America :: essays research papers

America, our great country, is strong, powerful, and influential. Americans exemplify positive values, selflessness, hospitality, and the American way of life. The mighty oak tree that stands taller, bigger, and older than all others best represents this grand country. Each part of the tree illustrates a facet of our nation. Shapely emerald leaves covering the tree symbolize the values many Americans hold concerning themselves, others, and their nation. Leaves help the tree grow and flourish just as our value of caring for our neighbors help us to unite and become more successful as a whole. The beautiful shade and distinct shape of these leaves make the tree more attractive and unique. Our values often differ from values of other countries due to cultural contrasts such as with religious, racial, and education issues. We give much more freedom than many other countries do to those of different races and religions. Also, he hold education in a much higher regard than other countries. It is these differences which sometimes make our country seem more appealing to those of foreign lands. Without leaves in the spring, the mighty oak would have no means of nourishment and would die. Our common American values bind us together as one unit just as all the leaves work together to benefit the oak. Without them we would be millions of separate bodies aimlessly wondering about a common ground, and our country would fall to pieces. Thus, there would be no country as there would be no tree. The lonely oak's long, gnarled limbs seem to reach out as far as they can just to touch another tree. One limb reaches far to the east until it finds a maple. Our brave troops fought in the east to fend off the Czechoslovakians and Serbians from nearly defenseless Bosnia. Another limb bends down and softly touches the fresh buds of a young sapling. Many Americans give years of their lives in South Africa to the Peace Corps to touch the lives and hearts of many villagers. Yet another limb seems to branch out in all directions with its twigs reaching both up and down and side to side. Every year, many Americans donate money to the Christian Children's Fund where it is then used to heal, feed, and educate poverty-stricken children all over the world. Just as our branches stretch out, so do our American arms to help those less fortunate.

Cash Pooling

Name: Dina Mohanna Rbea’an Subject: Cash Pooling Supervisor: Dr. Nasser Abu Mustafa University: NYIT? Cash Management: Cash pooling Abstract The role of the corporate cash manager has been continuously revised over the past few years, as a result of the demand for more effective and efficient ways to support the core needs of the organization. This has resulted in new responsibilities for the corporate treasurer and cash manager. The cash management function is demanding more accurate and continuous information on its cash position to provide responsive forecasting data and handling, so that availability of liquidity at the right time and price can be ensured. So this paper studies the Cash Management concept and focus on the cash pooling and whether it’s applied in the Middle East. Introduction The objectives of cash management are straightforward – maximise liquidity and control cash flows and maximise the value of funds while minimising the cost of funds. The strategies for meeting such objectives include varying degrees of long-term planning requirements. Also, like everywhere in the world, much treasury activity in the organizations is concentrated on cash management. This includes financing the corporation, administration of debts (loans, bonds, commercial papers, etc. ), good relationships with the banks, payments to suppliers and collections from customers, control of foreign currency and interest positions according to the company’s needs for finance, and finally the reporting and technical support of all these functions. The use of cash pooling as a global standard for concentrating cash into the main bank account of the firm has very quickly found favour in corporations. Cash pooling enables corporate groups to minimize expenditure incurred in connection with banking facilities through economies of scale. Under a cash pooling arrangement, entities within a corporate group regularly transfer their surplus cash to a single bank account (the â€Å"master accountâ€Å") and, in return, may draw on the funds in that account to satisfy their own cash flow requirements from time to time. The master account is usually held by the parent company or by a â€Å"Treasury Company â€Å"established specifically for this purpose. Depending on the type of cash pooling arrangement, the participating entities may transfer either their entire cash surplus (â€Å"zero balancingâ€Å"), or cash exceeding a certain surplus level (â€Å"target balancingâ€Å"). In general, all entities participating in the cash pooling arrangement will be liable for any negative balance on the master account, irrespective of the amount they have contributed. Transfers and draw-downs of funds to and from the master account by the participating companies have the nature of the grant and repayment of intra-group loans. In addition to physical cash pooling there is also â€Å"notionalâ€Å"(also known as â€Å"virtualâ€Å") cash pooling. This does not involve the physical transfer of funds, but rather the set-off of balances of different companies within the group, so that the bank charges interest on the group‘s net cash balance. This optimizes the position of the group as regards interest payments, but does not achieve optimal allocation of liquid funds as between the group members. Notional cash pooling will not result in the creation of intra-group loans, since funds are not physically transferred. As such, many of the risks outlined in this brochure do not apply to a purely notional cash pooling arrangement. In practice however, a notional cash pooling arrangement will frequently involve the grant of cross-guarantees and security by the participants to the bank, in order to maximize the available overdraft facility. To this extent, many of the risks outlined in this article could be relevant, even if the cash pooling arrangement is predominantly notional in nature. The specific structure of individual cash pooling arrangements can vary. For example, transfers to the master account may be undertaken by each participating group member individually or may instead be undertaken automatically by the bank on the basis of a power of attorney given by the relevant group company. In addition to the facility agreement with the respective bank, each participating group company will usually enter into â€Å"cash pooling agreementâ€Å". These agreements must be carefully structured in order to minimize the risks of civil or criminal liability of the participating group companies and their officers. Tax issues must also be carefully considered when structuring cash pooling agreements. Types of cash pooling Banks generally offer the following types of cash pooling: ?zero-balancing cash pooling, ?notional cash pooling, ?multicurrency cash pooling, ?Cross-border cash pooling. ?Zero -balancing cash pooling : Real cash pooling is based on a transfer from bank accounts to a master account, with balances on all bank accounts except the master account being zero at the end of the working day. It means this money physically ‘moves’ from the junior accounts to the master account. Real cash pooling requires companies to keep careful records of cash transfers, interest received and paid, and records of investments. Structure of a â€Å"Zero-Balancing-Pool† ?National pooling: Requires a company’s subsidiaries to use branches of the same bank, usually in the same country; although with the adoption of the euro, single-currency cross-border pooling has become rather common in Europe. All the excess and deficit balances in the company’s subsidiary accounts are summed each day to calculate the net interest earned or due. Funds are not actually transferred; rather, they are simply totalled for the purpose of calculating interest. Banks usually require credit facilities to support any deficit balances in the pool. National pooling generally requires extensive cross-guarantees among subsidiaries which many companies find very difficult to implement. Some countries disallow national pooling . among them are the United States, Germany, Mexico, Japan and Brazil. In countries where national pooling is not allowed, the zero balance pooling method must be used. Structure of â€Å" National pooling† ?Multicurrency cash pooling: Bank account balances in different foreign currencies are swapped to one agreed currency, which is the base for the interest rate calculations. ?Cross-border cash pooling Cross-border cash pooling helps corporations avoid the bureaucracy intrinsic to transferring cash across countries and different clearing systems, as well as different legal entities and the headache associated with the additional inter-company loan administration. While there is a selection of solutions in the marketplace, most of these operate on an interest enhancement basis where corporations are rewarded for servicing their liquidity through their chosen bank, but the bank is unable to achieve a balance sheet offset due to the complexity of multiple jurisdictional and regulatory barriers. Czech banks now offer cross-border pooling, both notional and real, for accounts in the domestic Czech koruna, euro, US dollar, Central European currencies (such as in the Slovak koruna, Hungarian forint and Polish zloty) and pound. These principles are used both in the Czech Republic and in the rest of Europe, and are therefore similar; any differences are the result of the legal requirements of each country. As mentioned above, the Czech Commercial Code does not recognise anything like ‘concern’ or a product like cash pooling. It is necessary to fulfil several conditions to prevent problems concerning taxation and reporting to minority shareholders. It is practically impossible to implement a cash pooling agreement between companies without a majority share. It is normal practice that a cash pooling system has to be agreed by a general meeting of the company and there is a strict requirement for signed control agreements. Sometimes, it is necessary to change the company articles of incorporation. †¢Reasons of Cash pooling : Reduction of financing costs on group level, -Improvement of investment-deposits by using economies of scale, -Simplification of liquidity-management on domestic level, -Reduction of expenses for financial intermediaries through centralization, -Improvement of planning cash flows through coordination of financial cycles, -Optimization of your financial image by decreasing external financing and better use of internal financial potentials, -Break-Even at about EUR 200'000 permanent liabilities on the accounts. Cash management in the Middle East: As in the rest of the world, cash management in the Middle East is benefiting from automation. How is this affecting different sizes of corporate, and what does the future hold in this area? The Middle East region, which includes countries like UAE, Oman and Qatar, has kept pace with the growth in such business ambitions and cash management is also not to be left out of this race to riches, as businesses continually explore opportunities to make more money, more profits and reduce costs. The excellent growth climate in countries like UAE, fuelled by ambitions and visions of the rulers and the business community, has resulted in opportunities, growth of infrastructure, access to international and other funds through opening up and freehold real estates, trading environments, the presence of more ‘free zones', creating a healthy and open competition for the survival and growth of the fittest, etc Multi-national corporate Middle East, especially the UAE, has recently seen an influx of many multi-national companies (MNCs) setting up their regional offices, treasury offices, marketing offices, etc. n UAE and managing the global operations. To attract such MNCs into the region, financial and general free zones plus offshore financial centers have sprung up everywhere with the intentions of inviting the best of MNCs to come and have their shops opened in these countries. The absence of tax regimes has added to the attraction in these markets. These companies typically need 24 hour Internet access, sweeping and pooling of funds and balances across banks and branches, competitive FX and deposit rates, competitive temporary overnight overdraft interest rates and credit interest on overnight floats. The ideal location of Gulf Cooperation Council (GCC) countries in the global map, the growth of communication, infrastructure, Internet, etc. have led to the explosive growth of such companies in the region Local corporate GCC is predominantly dominated by a number of local corporate or companies or family owned businesses, which are typically owned by large local/national families of businessmen. Most of these families have very successful and historic track records and have been associates/local representatives/agents for most of multinational brands from all over the world. The local regulations for a sponsor from a national has been a great aid in ensuring that the multinationals tie up with these local corporate for mutual success of business lines. While the MNC does the production, transport, marketing support, service association, etc. , the Local Corporate typically takes the local marketing and sales realization risk, like any MNC agency. This combination of MNCs and local corporate has worked very well historically in the GCC with the result that there is a successful association of MNC brands and families in the GCC. In many of these countries, the lack of restrictions such as taxes, financial regulations to publish books of accounts and audit, etc. have made the operations of such corporate mostly family driven. Recently, and especially in the last four to five years, GCC business families have started expanding into other countries in the region and also into countries in East and North Africa and other parts of the world, where investments in assets and business yields good and long-term returns for the business houses. In other words, the local corporate have been the opposite of the MNCs coming and operating into the GCC, and typically such local corporate are slowly growing and reaching the sizes of MNCs, albeit the growth into other competitive countries like Singapore, UK, other parts of Europe and the US have been very limited or generally non-existent. Mid-sized trading companies GCC has been historically characterized by a host of mid-sized trading companies, thanks to the general economic growth, healthy competition, absence of taxes and rules regime and a general absence of governmental red tape. Today, people of most GCC nationalities could come and start a business in any of the Free Zones in their own name, or if they choose to partner a national, they can start the business anywhere in these countries, with very limited capital and resources. The laws and business conditions have been very conducive for the mushrooming growth of such mid-sized companies, which have thrived, in the general economic upswing in the Middle East. While it is extremely difficult to list out the number of these companies, it is generally felt among banking community that the number of mid-sized corporate or companies (along with the small and medium enterprises (SMEs)) might currently be in the region of 15,000 numbers in UAE alone. This brings an exciting opportunity for smart entrepreneurs who thrive on such opportunities as also for smart bankers who have built a portfolio of such assets and relationships. On the cash management front, such small companies do not have many demands except that they require immediate and urgent funds clearance, remittances for payments, overnight float interest, good interest rates for deposits, etc. Many of them are also computer or Internet savvy and would be happy to use such online services to transact with their banks. Small and medium-sized enterprises SMEs have been the sleeping giants in the GCC business world, but they have now woken up to be a mid-sized monster. While banks are repeatedly facing the ever-decreasing margins (be it in interest rates, commissions, charges or any form of income to the bank) in the MNC and large corporate segments, it is the SME that has come as the boon for the dwindling revenues of banks. SMEs have been the ideal examples for the usual risk philosophy of ‘higher the risk, higher the return'. SME segment today offers the highest interest rates and margins in terms of lending – sometimes as high as 600 to 800 basis points over LIBOR/DIBOR, not to mention the amount of charges and commission. The risks of such SMEs have been mastered by many banks to offer an excellent basket of spread-out lending while keeping an eye on high margins. These SMEs will be the lifeline of banks in the next six to 10 years, and I personally believe that among the corporate income of banks, SMEs will represent the largest amount of this income. They could represent 70-80% in four to five years from now. This is an educated guess on what may happen, based on what is happening today. †¢Economic overview: There has always been a strong correlation between crude oil prices and the state of the Middle Eastern economies. With oil receipts accounting for 90% of government revenues in several Gulf countries and public projects dominating the markets, economic growth is largely dependent on the local government's expansionary policies. In view of the oil industry's cyclical nature, governments have become cautious in planning their annual budgets. An IMF study revealed that the Middle East countries, which were the beneficiaries of windfall oil export revenues in 2000-01, are using these gains prudently so as to be well equipped to deal with any sudden fall in oil prices over next few years. In addition, the governments have recognised the importance of economic diversification, and are now encouraging economic activity in sectors other than oil. Much of this effort has gone into developing manufacturing, trading, and tourism. Figure 1: Regional Macroeconomic Data and Forecasts †¢Financial Environment: The Gulf countries offer some of the most liberal financial environments, with fully convertible currencies, stable exchange rates, minimal exchange controls, and nil-to-low tax regimes. The relative political stability and increased economic cooperation between regional countries are some of the positive developments that attract big players to look at the Middle East as a viable investment alternative. Many of the Middle East countries that carefully protected themselves against the threat of foreign investors for so long are now inviting foreign capital to diversify their economies. Even the highly conservative states, such as Kuwait and Saudi Arabia, are gradually extending investment and ownership rights to foreign nationals. Free-trade zones, which were pioneered by the UAE and are now a common feature of all Gulf countries, have been instrumental in providing sole ownership and control to foreign investors. Apart from simplified registration and licensing procedures, free-trade zones offer tax holidays and world-class infrastructure facilities; thus, they are attracting new investors. †¢Banking System: The banking activities in the Middle East are largely domestic. The financial sector is engaged in a whole range of activities, from traditional public sector-dominated banking to state-of-the-art project finance and investment banking. Some banks are starting to obtain ratings from international agencies to pave the way for a more regional role. The governments have also been attempting to strengthen the banking sector by recapitalizing the domestic banks and ensuring that international capital requirements are met. There is a move towards encouraging smaller banks to merge and to develop domestic capital markets. Overall, there are many ongoing reforms designed to develop a sound banking system. The banking system in the Middle East is relatively flexible, and allows the opening and operation of a wide variety of accounts. However, Oman, Qatar, and Saudi Arabia do place some restrictions. Details of possible account structures are given in Figure 2 below. †¢Clearing System: All the countries in the Middle East, except for Saudi Arabia and the UAE, have a manual clearing system. Saudi Arabia has a real-time settlement system called the Saudi Riyal Interbank Express (SARIE). The SARIE is capable of interfacing with the electronic banking platforms of clearing participants for the online settlement of transactions. In the UAE, the Central Bank has recently introduced a real-time gross settlement (RTGS) system to facilitate interbank payments. Some other regional countries are also considering introducing such systems. The settlement days for manual clearing depend on the local practices and the level of sophistication in each country. The average time to clear a local currency cheque ranges from one to three working days in major cities. Outstation cheques take anywhere from between five and 10 working days for realization. Foreign currency cheques take between five and 15 working days to clear. The lack of automated clearing and settlement systems has hampered the automation of payment services, such as high-volume and low-value payments. Banks have worked around this by accepting payment instructions electronically, and then effecting payment through cheque printing or bank-to-bank transfers. †¢Liquidity Management Products: The availability of several account types is further augmented by a liberal regulatory framework that supports the setting up of domestic and cross-border concentration and pooling structures. In Saudi Arabia, there are no explicit laws on various aspects of liquidity management set-ups. Egypt allows pooling and cash concentration between resident and non-resident accounts, and also between two different legal entities. Bahrain and the UAE also permit pooling and cash concentration among different legal entities. However, it is advisable to seek legal opinion before establishing a liquidity management structure. †¢Cash Management Overview: As the regional markets grow in sophistication, there is a corresponding need for corporate to improve their operational efficiency and cost competitiveness. Over the last year, several banks have introduced electronic banking services – both Internet and non-Internet based – to provide services ranging from simple account information to transaction automation. Despite the presence of the underlying framework, locally owned corporate have been slow to subscribe to electronic banking mainly due to fears of loss of control. Even multinational corporations (MNCs) have been unable to implement an efficient and integrated cash management system due to low volumes and a lack a full array of cash management products and services with the banks. Figure 2: Cash Management for the Middle Eas †¢Current Practice by Corporate, and Trends in Cash Management: The concept of cash management is fast catching on in the region. With an increasing number of companies looking beyond their domestic frontiers to sustain growth, there is a need to optimize costs and manage risk. While MNCs have the concept filtered down from their group offices, large professionally-managed domestic companies with a well-diversified portfolio are increasingly looking at cash management as an important risk management tool. In the Middle East, companies are looking at online banking information and the automation of transaction processing by the use of an integrated banking platform, preferably interfaced with their back office system. This trend is growing as companies adopt enterprise resource planning (ERP) systems. Cash management requirements among corporate vary depending on the size and nature of operations. MNCs and large corporate look for more comprehensive cash management tools involving non-resident accounts, interest-bearing deposit accounts, cross-border cash concentration, and notional pooling. Also, those corporate with clearly defined collection and payment processes perceive accounts payable as a non-core business activity and look to outsource these services to banks. Meanwhile, the huge middle-market corporate, which are not really geared towards full automation, are limited to piecemeal use of electronic banking services. Banks offer varied cash management services and product ranges. In general, the international banks, which have a better regional network and offer more sophisticated electronic banking platforms and domestic and cross-border liquidity mechanisms compared to domestic banks, are clearly the leaders in cash management business. Domestic banks score better on in-country branch networks †¢What Does the Future Hold For Cash Management in the Middle East? Direct debits: Wherein based on a standing debit authority, utility and other bills will be directly raised by utility companies to banks who will debit the customer account and pay. †¢Bulk upload of salaries to debit cards and withdrawals through ATMs specially located in customer premises. †¢Complete debtor/invoice payments follow up on behalf of customers to ensure that invoices are collected in time. †¢Complete and automatic link up of all payments for purchases/supplies, wherein banks will automatically pay for the purchases made by customers, based on invoice details uploaded automatically. Secured payment gateways between the top 100 to 200 companies in the world, wherein a global clearing player (could be a top class global bank) will act as a central clearing bank for such companies and any funds or payments for them will be routed through the clearing bank globally. †¢Conclusion: The economic stability and the world class infrastructure offered by the Middle East makes it an attractive destination for setting up of shared service centers (SSCs). Locations such as Bahrain and Dubai have already emerged as preferred centers for setting up of regional hubs covering the Middle East and some African countries. Banks in the region are waking up to the tremendous potential of e-banking, and are investing heavily in technology. The next few years present exciting times for the business and service providers, as the new and existing players gear up to meet the challenges being offered by the New Economy On corporate cash management in the GCC, V. P. Nagarajan, executive director at Emirates Trading Agency – Ascon Group says: â€Å"Corporate cash management is an important tool of corporate finance today and, as days pass by, cash management will be the centre point around which the functions of finance will revolve. If we have a financial crystal ball and look into the future, we can visualize a corporate cash manager juggling his financial resources across the world in a computer the size of his palm. At the press of a button, he will be traveling over the notional financial super highway (which should take about a few seconds to reach the other parts of the globe and the universe) for a virtual reality decision across. Some of the easier decisions in those days will be there will no physical currencies (saves a lot of printing and paper expenses), no multiple branches of banks (all of them will be operating from internet or computer driven global centers), and still there will be the cash management sales bankers who will come and try to sell what they do not have. † Hopefully corporate cash management will see a world of change as we move forward. †¢References: 1-http://www. gtnews. com/article/6920. fm Cash Management in the Middle East Rajeev Babel, HSBC Global Payments and Cash Management 2-http://www. gtnews. com/article/4172. cfmCash Management – The Middle East PerspectiveVenkatesan Thiagarajan, Barclays 3- Essentials of treasury management second edition (association for financial professional) . 4- De Gidlow, R. , Donovan, S. (2005), Cash Management Techniques. In: The Treasurer’s Handbook 2005, Act, London 5- Heezius, D. , Polak, P. (2006), Country Guide: The Czec h Republic. In: The Treasurer’s Handbook 2006, Act, London.

ndividual Assignment Ethics Reflection Paper Essay

Business Ethics and Social Responsibility Resources: Ethics Awareness Inventory and Ethical Choices in the Workplace assessments Use the Ethics Awareness Inventory and Ethical Choices in the Workplace assessments to revisityour personal and professional values. Write a paper of no more than 1,050-words in which you do the following: †¢ Explain the role of ethics and social responsibility in developing a strategic plan,considering stakeholder needs. †¢ Explain how your ethical perspective has evolved throughout the program. Format your paper according to APA standards. General Questions – General General Questions Take the Ethics Awareness Inventory and Ethical Choices in the Workplace assessments to assess your values. Write a paper between 600 to 700 words in which you do the following: Explain the role of ethics and social responsibility in developing a strategic plan, considering stakeholder needs. Explain how your ethical perspective has evolved throughout the program. Format your paper consistent with APA guidelines. Click the Assignment Files tab to submit your assignment. If you can’t settle on a major in your first year, then take a couple core classes for any major you are considering. You’ll learn about each field thoroughly this way. When you are ready to choose, you’ll have the credits you need for that major, plus the minors as well. This file of STR 581 Week 1 Individual Assignment Ethics Reflection Paper comprises: Business Ethics and Social Responsibility Resources: Ethics Awareness Inventory and Ethical Choices in the Workplace assessments Use the Ethics Awareness Inventory and Ethical Choices in the Workplace a†¦ Follow the link to get tutorial – https://bitly.com/1wyRSFq If you can’t settle on a major in your first year, then take a couple core classes for any major you are considering. You’ll learn about each field thoroughly this way. When you are ready to choose, you’ll have the credits you need for that major, plus the minors as well. General Questions – General General Questions Take the Ethics Awareness Inventory and Ethical Choices in the Workplace assessments to assess your values. Write a paper between 600 to 700 words in which you do the following: Explain the role of ethics and social responsibility in developing a strategic plan, considering stakeholder needs. Explain how your ethical perspective has evolved throughout the program. Format your paper consistent with APA guidelines. Click the Assignment Files tab to submit your assignment.