My Views On Education Philosophy Essay examples - 1978 Words

My Views On Education Philosophy When I first began college I wanted to be an accountant. I had taken accounting class in high school and really enjoyed it. Accounting is finite and rigid in terms of how it is structured. The rules did not change in regards to how you went about learning and applying it. Once you mastered the principles of accounting you would be able to do your assignments in class or your work in the real world proficiently. As I began taking the core accounting classes in my first years of college I noticed that the same reasons that once attracted me to accounting were now acting as a deterrent toward the profession. The finite, rigid nature of accounting was making it mundane, boring, and overall†¦show more content†¦Therefore, as a social studies teacher, I will be paid to do what I love which is continually enhancing my knowledge of history. I can then give my knowledge back to society through the process of educating the youth about history. This process will enrich and enha nce the minds of the youth who will one day take their place as the future of our society. The students must be the most important aspect in the classroom regarding the teachers’ priorities. The teachers first and foremost duty is to educate their students. In order to educate their students at the highest possible level every aspect of the classroom must produce a positive learning environment to allow the student to flourish. Classroom environment, disciplinary structure, teaching methods, teacher-student relationship structure, and the overall philosophical structure would all be aspects of a classroom that a teacher must formulate accordingly to allow the student to thrive academically. Disciplinary structure is integral to a positive learning environment. I have been a part of several classes in my secondary education in which the teacher did not put the students first. The teacher did not seem interested in the students. This disinterest was illustrated by how particular aspects of the classrooms structure were neglected. The teacher did not care when particular students were disrupting the class by talking and getting out ofShow MoreRelatedMy Views On Philosophy Of Education1294 Words   |  6 PagesPhilosophy of Education Let us remember: One book, one pen, one child, and one teacher can change the world. Teaching is a very important responsibility that is crucial to our children in society. Not only does teaching give the teachers responsibility to teach the children school subjects but they also open the children’s minds to create and imagine a world on their own. Teachers not only open the minds of children to open opportunities in their lives but they also provide students with the experienceRead MoreNursing : Health Cooperation, And Personal Philosophy Of Nursing Care1339 Words   |  6 PagesVincennes University, St. Mary’s Health Cooperation, and Personal: Philosophy of Nursing Care Introduction Nursing philosophies are used by many institutions and places of employment. It is important that student nurses and nurses read and gain knowledge from their facilities nursing philosophy. Philosophies give the nurse a guideline of how their facility defines the aspects of nursing and what is expected of them as nurses of that facility. It is essential for nurses to go back after they haveRead MoreMy Personal Philosophy of Education958 Words   |  4 PagesMy Personal Philosophy of Education It is customary that on New Year’s Eve, we make New Year resolution. The fact is that we are making a set of guideline that we want to live by. These are motives that we seek to achieve. In a similar way, teachers live by philosophy. This essay focuses on my personal philosophy of education. It unfolds the function of philosophy in a teacher’s life, my view on the purpose of education, the student teacher- relationship and the philosophy which influences myRead MoreCritical Pedagogy: The Study of Oppression in Education855 Words   |  4 PagesIn the education world, the topic of critical pedagogy will be introduced to many. Before one can discuss critical pedagogy, one must know the meaning of it. Critical pedagogy is known to many as the study of oppression in education. It includes how issues of sex, race, gender, culture, and other social factors shape education. Critical pedagogy is also known by many as how teaching and learning takes place. An example of c ritical pedagogy is when students are able to ask why and respond or challengeRead MoreEducation : The Most Powerful Weapon For Changing The World998 Words   |  4 Pageswill begin by explaining my beliefs on what the purpose of education is, what schools are for, what curriculum should contain, what the relationship between students and teachers should be, and what my plan to honor the differences between my students is. By the end of this essay, I will examine my views and decide which well-known educational philosophy my beliefs align with. Once combined, this will form my philosophy of teaching and education. It is important to note that my plan is to teach studentsRead More Teaching Philosophy Statement Essay984 Words   |  4 PagesTeaching Philosophy Statement Aristotle once said, â€Å"The one exclusive sign of thorough knowledge is the power of teaching.† Teaching enables students to gain the intelligence needed to excel in life. I believe that a teacher’s philosophy of education is a crucial role in his or her approach to leading students on their educated path. A philosophy of education is the set of beliefs that every school and every teacher stand behind. The certain philosophy that one chooses provides the answersRead MorePhilosophy : The Philosophical Study Of Human Values, Epistemology, And Metaphysics1069 Words   |  5 PagesBefore taking this class, I thought that philosophy was strictly the study of space and abstract ideas that I never really gave any attention to. Now at the end of the semester I can say that not only have I realized how wrong my original opinion of philosophy was, but I also learned that the more philosophy I can study, the better I will be able to make decisions in my life. Philosophy ca n be broken down into three branches: Axiology, Epistemology, and Metaphysics. These branches each have theirRead More My Philosophy of Education Essay1377 Words   |  6 PagesMy Philosophy of Education A child’s education is one of the most important, if not the most important, aspects of his or her life. With this in mind, teachers are very influential characters. Therefore it is essential that teachers develop their educational philosophy and their educational goals before making the big step from being a student to being a teacher. I would now like to present my educational philosophy and goals. I will do this by combining the thoughts of RousseauRead More Make A Difference Essay1035 Words   |  5 Pageselementary school teacher ever since I was young. My grandmother was a third grade teacher, and after every school year she would give me her old books that she no longer used. I was so excited when she gave them to me. As soon as she handed them to me I would make my younger brother play school with me. From the first day she gave me her old school books, there was no doubt in my mind that I would become a teacher of education. Education is defined as the lifelong process of acquiring knowledgeRead More My Philosophy of Education Essay959 Words   |  4 PagesMy Philosophy of Education â€Å"Though your beginning was insignificant, yet your end will increase greatly† â€Å"A hundred years from now it will not matter what my bank account was, the sort of house I lived in, or the kind of car I drove, but the world may be different because I was important in the life of a child† Anonymous I can remember the days of yester when my childhood friends and I played pretend teacher. The reasons that I decided to enter the teaching profession

Orwell s 1984 And Animal Farm - 1243 Words

Hopelessness in 1984 and Animal Farm Hopelessness is a very strong quality present in 1984 and Animal Farm both by George Orwell. Animal Farm is a very literal allegory to the Russian revolution and warns about the dangers of a communist society. It reflects that hope can quickly be lost and people or animals can quickly become what they once fought to be free and independent from. 1984 follows a man named Winston who comes to rebel against his society but in the end is shown how futile his efforts to break away truly are. In each novel literary devices are used to present hopelessness, which is a common theme. With his purposeful and blunt use of irony, tone, and anaphora, Orwell creates an all too realistic dystopian civilization where vivid feelings of hopelessness thrive. Within the two novels 1984 and Animal Farm Irony is used in very common ways. In 1984 the character Julia begins as a strong opposer to the party. She wishes to be the very thing that the party tries to destroy telling Winston, â€Å"Well then I ought to suit you, dear. I’m corrupt to the bones.†(1984 125) She is initially a symbol of hope for Winston and represents non-conformity. She has a strong will and is far from brainwashed like many other members of their society. It seems almost unimaginable that her opinions are changeable. Similarly, in Animal Farm the animals unite and are given hope by the fact that, â€Å"All men are enemies, all animals are comrades,† (Animal Farm 10). These books build upShow MoreRelatedGeorge Orwell s Animal Farm And 19841948 Words   |  8 Pagesto help develop the ideals of totalitarian governments and their effects on society in his novels Animal Farm and 1984. Orwell uses symbolism to show various aspects of totalitarian governments in Animal Farm. The animal farm, or manor farm, is the plantation in which the animals all live and work on. Manor farm symbolizes various Human societies such as capitalists, socialists, and communists. Orwell uses this to show that there are multiple parties within a community. He is trying to show thatRead MoreGeorge Orwell s 1984 And Animal Farm1983 Words   |  8 PagesGeorge Orwell’s 1984 and Animal Farm shares a fundamental theme and common elements that shape the idea of an Orwellian society. Orwellian is widely described as a society in which the liberties of all are diminished due to authoritarian rule. Orwell conveys the theme of â€Å"Many believe that man’s actions result from his free will, the presentation/perception of what is fact, remains dominant over society s actions.† through parallel elements of repression of information, fear propaganda, and languageRead MoreAnalys is Of George Orwell s 1984 And Animal Farm 1401 Words   |  6 PagesTitle/Author: 1984/ George Orwell Date of Publication/Genre: 1949/ Dystopian Fiction Biographical information about the author: George Orwell, who was originally Eric Arthur Blair was born in 1903 in British India. His two greatest novels include 1984 and Animal Farm. He is regarded as one of the greatest novelist of the 20th century. Historical information on the period of publication: During this period, the United Kingdom recognized the republic of Ireland. The United States claimed Israel asRead More Biography George Orwell Essay1135 Words   |  5 Pagesopinions like George Orwell. Orwell got to express his opinions in his writings. He wrote about the sociopolitical conditions of his time. For a man whose career started as a dishwasher, he came a long way to be known as the great author he is known as today. In this paper George Orwells early life, his variety of jobs before becoming a writer, his many successes and failures and some of his best known novels and critiques of them, and his sad death will all be discussed. George Orwell was born in MotihardRead MoreTotalitarianism in Orwells Mind Essay1053 Words   |  5 PagesGeorge Orwell hates in government. 1984, a book written by Orwell, depicts a society called Oceania, in which unwary citizens are obedient to the Party, a totalitarian regime. Totalitarianism is defined as a political system in which a centralized government does not tolerate any form of political dissent and seeks to control many, if not all, aspects of public and private life. Another one of George Orwell’s books, Animal Farm, is an allegory about the Soviet Union, and in it farm animals subscribeRead MoreThe Literary Impact Of George Orwell . George Orwell, Born1375 Words   |  6 Pages The Literary Impact of George Orwell George Orwell, born as Eric Arthur Blair, was a British journalist and author. His works were compelling, especially, when it comes to his strong political beliefs. He is considered one of the most widely admired English-language essayists of the twentieth century. As Elkins points out, he is best known for the two novels that were written toward the end of his life: the anti-utopian political allegory Animal Farm and the dystopian novel Nineteen Eighty-FourRead MoreAnimal Farm And 19841457 Words   |  6 Pagesï » ¿ George Orwell s views on totalitarian governments were not concealed from public view. He expressed his thoughts and opinions through his books. Among these books were Nineteen - Eighty -Four and Animal Farm, which were his works that most obviously portrayed his disfavor for totalitarian governments. Totalitarian governments are controlled by political authorities who have control of all aspects of society. Nineteen-Eighty-Four and Animal Farm are two different books that have different waysRead MoreAnalysis Of George Orwell s The Great Gatsby 1285 Words   |  6 PagesBooth Period 6 English 12/3/14 Author Study of George Orwell George Orwell was a literary tactician who won two major awards because of hia advanced and intriguing use of propaganda. At first glance, his books appear to be stories about animals, however, they contain much deeper and influential meanings. Orwell is most recognized for his portrayal of dystopian societies and how they parallel present society. Through intense allegories, Orwell unintentionally crafted novels that are applicable toRead MoreAnimal Farm, By George Orwell1545 Words   |  7 Pagesthis elite institution of people often use this gear to dominate and oppress society. In George Orwell’s story, Animal Farm, Orwell demonstrates that education is a powerful weapon and is a device that can be used to at least one’s benefit. Living in a world where strength is a straightforward to benefit, the pigs quick use education to govern the relaxation of the animals on the farm to serve themselves worked to their advantage. This story in shows the underlying message that   first, training isRead MoreWhat Is The Importance Of Ignorance In Animal Farm1558 Words   |  7 Pagesof this elite institution of people often use this gear to dominate and oppress society. In George Orwell’s story, Animal Farm, Orwell demonstrates that education is a powerful weapon and is a device that can be used to at least one’s benefit. Living in a world where strength is a straightforward benefit, the pigs quick use education to govern the relaxation of the animals on the farm to serve themselves worked to their advantage. This story in shows the underlying message that   first, training is

Ethical Theories The Cyber Space Activity †Myassignmenthelp.Com

Question: Discuss About The Ethical Theories Of The Cyber Space Activity? Answer: Introducation Cybercrime, also referred to as computer crime is any illegal activity that is carried out with the use of a computer or any device that can be used to access the internet, such as a mobile phone. The department of Justice has categorized cybercrime into three categories: crimes where the computer is employed as the weapon, crimes which involves the computer itself as the target and also where the computer has been used as an accessory to crime The internet has been the biggest invention ever since printing, and the more it has spread, cybercrime has also spread with the same magnitude, since a person does not now need to be present physically to commit a crime in a certain place. The internet also avails speed, anonymity, a borderless scope and convenience all which makes crime easier to carry out (("Cybercrime", 2017). Cybercrime can be explained in relation to classical ethical theory. To begin with, deontology holds that the actions of people are to be guided by moral laws; which are universal. Deontological ethics are drawn from the philosophy of Kants categorical imperative. He proposed that for an ethical school to appeal to all rational people, it had to be based on the reasoning of a rational person ("The Cambridge handbook of information and computer ethics", 2010). It is duty ethics, the actions of any individual are seen as performance of duty to act ethically towards other internet users, or the following of the rules laid down by country. Therefore, according to deontology, it was wrong for Mr. Tabalbag to use a phishing app to obtain information illegally from his wifes phone. This is clearly phone hacking because he used an app to gain unauthorized access to his wifes deleted messages and phone bills. Mr. Tabalbag in his use of the internet violated the duty a person has towards other cyber users and the state. He committed a cybercrime, because he used a computer and his phone as the tools in harming other people, his wife and her lover. Utilitarianism holds that the end justifies the means; that the right action is the one that will produce the greatest happiness or the best. Rule utilitarianism leads us to adopting the moral rules that would produce happiness if they were followed by everyone, while act utilitarianism leads us to do those actions that produce more happiness than unhappiness (Driver, 2017). Ethical hackers use their skill to benefit the society, thus it would be legal under utilitarian principles, Ethical hacking has been of tremendous benefit to many organizations. For instance, it has helped to strengthen national security.it has been used by the united states air force to evaluate their operating system; which is a contribution to the fight against terrorism and external threats. IBM also uses ethical hackers to keep their systems and those of their clients secure (Chao, 2017). Mr. Tabalbag did use a sort of a phishing app that could retrieve the deleted messages and phone bills of his partner. H e was suspicious that his wife was having an affair and the information he got helped him to catch her right in the act, so in a sense, the end justified the means. There are still some grey areas however. Despite the end justifying the means, his actions did not lead to happiness. If every suspicious spouse followed his cause of action many lovers affairs would be exposed, with several fatalities as in this case. It is hard to determine, now that Mr. Tabalbag actions of hacking into his wifes phone, and used another app to stalk her, whether he ended up happy or unhappier, now that he is in prison for manslaughter. Virtue ethics are normative ethical theories that are weighted on the virtues of mind and character. Ethics should thus be concerned with the character that is displayed by a moral agent, rather than the rules that are dictating what is right and what is wrong. According to Aristotle, a virtuous person is that person who has ideal character traits. He will display kindness across many situations because it is in their character to do so, rather than being in search of recognition or maximizing utility. Rules are hard to establish and the consequences are harder to perceive in cyberspace. Virtue ethics are therefore aimed at producing citizens that are digitally wise and will as a result be able to supervise their online activities. According to Aristotle these virtues cannot be taught theoretically, rather they can be learnt through experience, practice and the development of practical wisdom, which he referred to as phronesis.in cyberspace, they would be cyber prognosis, which would be implemented by students, parents, teachers and other stakeholders in the digital world ("Virtue Ethics | Internet Encyclopedia of Philosophy", 2017). Thinking in the lines of virtual ethics, most cybercrime activities are wrong, because they reflect a weakness in character. If Mr. Tabalbag did not practice cyber prognosis, he went out of his way to gain unauthorized access to his wifes phone billing information and deleted text messages, which is not the behaviour that a virtuous user of the internet would exhibit. His aim was to maximize his utility; to catch his wife in the act. virtue ethics are aimed at producing people that are digitally wise, which was not reflected at all in his stalking and hacking tendencies.it is indeed important for virtue ethics to be taught to internet users, because had Mr. Tabalbag been bit more digitally wise, he would not have ended up with a murder, later reduced to manslaughter conviction. The contract theory states that there is an implicit social contract between that citizen and the country and the state that he lives and as a result that that citizen is obliged to abide by the moral and the legal issues of the state even if he would rather not. The social contract line if thought was mainly propagated by Thomas Hobbes. He theorized a situation where there was no law governing the society, where each person was free in every state of nature. He observed that though it would be a pleasant thing, people are motivated by their own self-interests, and the world would turn into a very unpleasant place. the solution would be therefore for each person to give up some of their absolute freedom and in exchange each person would give up an equal measure of their freedom ("Phil 2800 - 3 Ethical Theories", 2017). Phone hacking is the practice of manipulating or gaining unauthorized access to mobile phones. It is the use of telephone technology to steal information, which is wha t Mr. Tabalbag did, which is illegal. It is an illegal invasion of privacy. Phone hacking is covered in the law that regulates phone tapping and other ways of gathering information. It is an offence to gain information that is stored in information system, without a search warrant and or production order which has to be approved by a judge (Davies, 2017). There are other avenues that Mr. Tabalbag could have exploited to obtain information on his wifes account. He could have called the service provider and asking for a breakdown of texts and numbers called by his wife using his own phone account. Tracking a user using their cellphone is not illegal, but if the information is used in an abusive manner it becomes stalking and it is illegal. It would have been better if Mr. Tabalbag had informed his wife that he would be tracking his movements, given he had already voiced his suspicion that way, issues of privacy would not have emerged ("Cell Phone Monitoring: Is Mobile Surveillance Leg al?", 2017). Clearly cybercrime and privacy infringement do not only affect a society online. The consequences affect a society in their day to day lives. There is need for continual review of legislation to tame these vices as their scope widens with the spread in technology References Cell Phone Monitoring: Is Mobile Surveillance Legal?. (2017).TopTenReviews. Retrieved 11 September 2017, from https://www.toptenreviews.com/software/articles/cell-phone-monitoring-is-mobile-surveillance-legal/ Chao, O. (2017).Ethical Hacking ethical or unethical | IS1103 GRP 202.Blog.nus.edu.sg. Retrieved 11 September 2017, from https://blog.nus.edu.sg/is1103grp202/2012/09/11/ethical-hacking-ethical-or-unethical/ Cybercrime. (2017).Tech Target. Retrieved 11 September 2017, from )https://searchsecurity.techtarget.com/definition/cybercrime Davies, N. (2017).The law on phone hacking and private data.the Guardian. Retrieved 11 September 2017, from https://www.theguardian.com/media/2009/jul/08/ripa-phone-hacking-law Driver, J. (2017).The History of Utilitarianism.Plato.stanford.edu. Retrieved 11 September 2017, from https://plato.stanford.edu/entries/utilitarianism-history/ Phil 2800 - 3 Ethical Theories. (2017).Ucs.mun.ca. Retrieved 11 September 2017, from https://www.ucs.mun.ca/~alatus/2800a/3EthicalTheories.html The Cambridge handbook of information and computer ethics. (2010).Choice Reviews Online,48(03), 48-1520-48-1520. https://dx.doi.org/10.5860/choice.48-1520 Virtue Ethics | Internet Encyclopedia of Philosophy. (2017).Iep.utm.edu. Retrieved 11 September 2017, from https://www.iep.utm.edu/virtue/

William Shakespeares Romeo + Juliet Essays - Fiction, Literature

William Shakespeare's Romeo + Juliet The children of two warring families fall in love with tragic consequences for all concerned. Shakespeare's play has been subject to several adaptations in the centuries since its first appearance, including movement to other media (painting, music). But in the twentieth century there have been three which have surpassed adaptation and significantly reformulated it for their media: Sergei Prokofiev's 1935 ballet, the 1957 Laurents / Sondheim / Bernstein / Robbins Broadway stage musical West Side Story and this film. Though there have been countless other film versions, including interesting and stimulating updates and adaptations like Zeffirelli's controversial 1968 rendition, Abel Ferrera's China Girl, and the 1961 film version of West Side Story, none have told the tale so vividly as film. It's not merely that the setting has been changed to a slightly futuristic Verona Beach, California and that guns have been substituted for rapiers. Though this helps to make the story more immediate to a contemporary audience, it is likely to seem as quaint in thirty years time as the stereotypes and caricatures in West Side Story do today. But over and above the surface excitations of a trendy rock score and sexy young stars is a beautifully crafted film which embraces the spirit and the letter of the text without surrendering to stage convention. It is as cinematic as Citizen Kane, and while the words are equally important (as they were in Kane), they are not all that it is. This film communicates the passions and emotions of its characters in a series of beautifully mounted sequences which roughly coincide with their stage originators but assume a unique and vividly changeable cinematic character in a way a stage version never could. From the John Wooesque shoot out which begins the film to the surreality of the Capulet ball to the operatic death of Mercutio to the baroque finale in a neon and candelit church, it never stops merely to present the dialogue for the dialogue's sake even though it retains the Elizabethan tongue. In this way the original text is unharmed but perfectly comprehensible. The images tell the story, and the dialogue complements and enlarges them. Aided then by a suitable rock and pop score and by the trappings of the contemporary setting, the film uniquely communicates the spirit of the age in which it was made, but equally tells its tale in a manner which speaks to its audience. One of its strengths is that most people won't even need to think of it in terms of a great work of cinema. It simply works. It is possible to enjoy the magic without worrying about sleight of hand. Thus casual audiences can derive as much pleasure from it as cineastes, possibly more. The performances are uniformly good, from its young stars to more experienced supporting players like Miriam Margoyles, Brian Dennehy and Paul Sorvino (John Leguizmo is particularly flamboyant Tybalt). It is fast moving and energetic to a fault, and bolstered by its flawless translation to contemporary America. It is far an away one of the most enjoyable films of recent years, and its box office success attests to its ability to perform simply on the level of popular entertainment. Of course it is not without precedents (by definition, being postmodern). Among them are two primary strands; the recent rash of 'faithful' adaptations of classic novels bearing the name of the original author in the title such as Bram Stoker's Dracula and Mary Shelley's Frankenstein (neither of which was particularly faithful in the final analysis), and some ambitious restaging of Shakespeare both in theatre and film including Richard III and Hamlet Goes Business. This dichotomy (or is it a dialectic?) between the nominally literal and the at least partially abstract is the essence of the postmodern text, and can produce cowardly non-committal works. But William Shakespeare's Romeo + Juliet is blessedly bereft of irony, allowing the strength of the parable to be as effective for a contemporary audience as it was upon its original production, and is more likely to produce discussion among its viewers about the tragedy itself than the merits or demerits of its manifestation. Although in one sense this return to innocence thesis is a form of denial, and indeed the film relies heavily upon the intersecting codes of postmodern existence for its pace and rhythm, it is perhaps more true a work of art than many which

The Human Factors Analysis Crash of Pinnacle Airlines Flight 3701 Essay Example For Students

The Human Factors Analysis: Crash of Pinnacle Airlines Flight 3701 Essay The Human Factors Analysis: Clang of Pinnacle Airlines Flight 3701. The aircraft accident study and analysis, look into all processs and challenges affecting air power safety issues. From a human factor point of view, most air power accidents are attributed to human-machine mistakes. Integrating psychological scientific discipline and safer environments into a multidisciplinary attack improves the extenuation procedure. Underscoring the belongingss of human factors, influence, restrictions, and applications in air power industry could present new ways to extenuate human mistake. Correlating human factors in aircraft accidents evolved the ability to break the safety procedure in a work environment. We will write a custom essay on The Human Factors Analysis: Crash of Pinnacle Airlines Flight 3701 specifically for you for only $16.38 $13.9/page Order now Another term in human factors is the rule of work public presentation and situational consciousness. In both instances, they present a challenge to the air power industry. Work public presentation and deficiency of situational consciousness can be classified as knowing and unwilled mistake. Unintentional mistake is attributed to the bad cognitive judgement and action. Equally good as knowing mistake, which correspond to the misdemeanor of safety patterns and processs. To extenuate human mistake, critical stairss to advance safety patterns, procedures, and good determination devising is implemented. But, keeping the effectivity of a safety direction system, particularly aviation safety, proactive communicating and human interactions can forestall or pull off the figure of safety-related air power accidents and incidents. The function of human factors in air power encompasses a broad scope of proficient and mechanical failures. But, understanding the human mistake and its belongingss represents a challenge to the air power industry. Even now, to extenuate human factor in a on the job environment a important behavioural analysis can beef up the extenuation procedure. As a general attack, air power industry uses the subjects of cognitive scientific discipline to understand the logical thinking behind the human mistake. Pinnacle Airlines Flight 3701: Events and Findingss. Human factors and the ergonomic undertaking analysis in air power constitute a great per centum of all major air power accidents. Depending on the accident fortunes, human mistake is identified as a conducive factor. It is critical that the research worker place the likely causes accident for a future safety mention. In add-on, the accident probe requires a thorough study that includes the primary findings, actions, and recommendation. Let analyze the â€Å"Crash of Pinnacle Airlines Flight 3701, Jefferson City, Missouri October 14, 2004. The flight was runing under the 14 Code of Federal Regulations ( CFR ) Part 91† ( National Transportation Safety Board, 2007, p. 1 ) . At 2215:06 Pinnacle Airlines flight 3701 crashed into a residential country of Jefferson City, Missouri. Both engines flamed out when the pilot induced an aerodynamic stall and were unable to re-start. The captain and first officer ( OF ) were killed in the clang. During the acclivity, the captain induced three offprint pitched up manoeuvres doing an increase on the pitch angle and a perpendicular burden. ( National Transportation Safety Board, 2007, pp. 12, parity. 1 ) The flight informations entering system ( FDR ) showed that the pilot engaged in inordinate pitch airplane-nose-down ( AND ) and airplane nose-up ( ANU ) manoeuvres. Between 2127:15 and 2127:17, the FDR information confirmed the automatic pilot was disengaged during the 2nd ANU manoeuvre at 15,000 pess. A few seconds subsequently and at 24,600 pess, the aircraft was on a degree flight place. A 3rd pitch-up manoeuvre was followed after the degree flight place ensuing in an increase on the pitch angle and perpendicular burden. During the air traffic control ( ATC ) transcript alteration, â€Å"the aircraft maximal climb rate of 41,000 pess was cleared by the ACT. Further transcript analysis revealed that at the maximal ascent rate, the aircraft perpendicular velocity was approximative 500 fpm† ( National Transportation Safety Board, 2007, pp. 14, parity. 1-3 ) . .u13da94bf9cd2cab140f70e19a0a0ace5 , .u13da94bf9cd2cab140f70e19a0a0ace5 .postImageUrl , .u13da94bf9cd2cab140f70e19a0a0ace5 .centered-text-area { min-height: 80px; position: relative; } .u13da94bf9cd2cab140f70e19a0a0ace5 , .u13da94bf9cd2cab140f70e19a0a0ace5:hover , .u13da94bf9cd2cab140f70e19a0a0ace5:visited , .u13da94bf9cd2cab140f70e19a0a0ace5:active { border:0!important; } .u13da94bf9cd2cab140f70e19a0a0ace5 .clearfix:after { content: ""; display: table; clear: both; } .u13da94bf9cd2cab140f70e19a0a0ace5 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u13da94bf9cd2cab140f70e19a0a0ace5:active , .u13da94bf9cd2cab140f70e19a0a0ace5:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u13da94bf9cd2cab140f70e19a0a0ace5 .centered-text-area { width: 100%; position: relative ; } .u13da94bf9cd2cab140f70e19a0a0ace5 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u13da94bf9cd2cab140f70e19a0a0ace5 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u13da94bf9cd2cab140f70e19a0a0ace5 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u13da94bf9cd2cab140f70e19a0a0ace5:hover .ctaButton { background-color: #34495E!important; } .u13da94bf9cd2cab140f70e19a0a0ace5 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u13da94bf9cd2cab140f70e19a0a0ace5 .u13da94bf9cd2cab140f70e19a0a0ace5-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u13da94bf9cd2cab140f70e19a0a0ace5:after { content: ""; display: block; clear: both; } READ: Inspector Calls Essay SummaryBetween 2152:22 and 2124:36, the cockpit voice recording equipment ( CVR ) indicated the flight crew recognize the aircraft maximal height and the crew decided to go on at 41,000 pess. The CVR besides revealed the ACT concerns at that height. After the 2nd pitch-up manoeuvre, â€Å"the FDR information showed an increase in the angle of onslaught ( AOA ) from 7a? ° to 12a? ° and shortly after to a decrease of -20a? °Ã¢â‚¬  ( National Transportation Safety Board, 2007, pp. 15, parity. 1-5 ) . After the aircraft entered an aerodynamic stall, the FDR and CVR informations recorder the dual engine failure after the unsuccessful recovery from the stall place. About 2201:5 the pilots initiate the subsidiary power unit ( APU ) bleed air restart. Between 2203:09 and 2208:17, the engine failure continued and the crew was forced to fall at a rate of 1,500 pess per minute. About two proceedingss subsequently, the air traffic accountant asked the pilots perform a landing attack to the closest airdrome. The traffic accountant cleared Pinnacle Airlines Flight 3701 to the closest airdrome, runway 30 at Jefferson Memorial Airport ( JEF ) . At 2214:02, after interchanging the set downing attack information with the air traffic accountant, the crew realized the failed attack. About 2214:53 and 2215:00, the CVR recorded the aircraft concluding attack at.58 maritime stat mis ( NM ) and at an height of 930 pess. Seconds subsequently, the low terrain dismaying sound and six second after the aircraft impacted the land. Brief great sum-up of the accident fortunes in a well-supported organize and logical mode. Primary findings: place the factors lending to the job, accurate inside informations with external beginnings. From a human factor point of view. Aircraft accident study composing and analysis. Accident probe processs and challenges. Critical idea affecting air power safety issues.-p.12 Recommendations1 Clearly province the important of the job and relevant constructs, theories, results prediction that supports immediate actions to decide the job, outside beginnings. Kd ; flkd FAA actions on the recommendations. Primary air power safety issues associated with the accident. Alternate actions ( 2 each-advantage and disad ) : attack to work out the job, ground for alternate advantages and disadvantages and give the cause for contemplation on the consequence of implementing one or the other. K ; deciliter Industry Executions of the Recommendations. Status of the recommendations and what has been done since the accident to forestall return. Reason is clear. Advantages and disadvantages are thought arousing. Answer the inquiry. â€Å"What if we tried something wholly different? † A determination to implement could likely merely be made and strongly defended without permission. Fks ; dfks ; . ( Last Name, Year ) Mentions Last Name, F. M. ( Year ) . Article Title.Journal Title, Pages From To. Last Name, F. M. ( Year ) .Book Title.City Name: Publisher Name. National Transportation Safety Board. F.M. ( January 9, 2007 ) . Crash of Pinnacle Airlines Flight 3701 Bombardier CL-600-2B19, N8396A Jefferson City, Missouri October 14, 2004, p.1. Retrieved hypertext transfer protocol: //www.ntsb.gov/doclib/reports/2007/AAR0701.pdf Footnotes 1 Tables Table 1 Column Head Column Head Column Head Column Head Column Head Row Head 123 123 123 123 Row Head 456 456 456 456 Row Head 789 789 789 789 Row Head 123 123 123 123 Row Head 456 456 456 456 Row Head 789 789 789 789 Note: Figures Figure 1. For more information about all elements of APA data format, delight confer with the APA Style Manual, 6th Edition.

Winning ugly in Kosovo essays

Winning ugly in Kosovo essays NATOs Strategy in Kosovo was an effective means to accomplish their diplomatic and military goals. Their strategy was effective in demonstrating the resolve of NATO and their ability to build and maintain a lasting alliance between NATO and non-NATO members in the region. In all, 19 non-NATO countries are part of the KFOR operation in Kosovo. The strategy used by NATO had four primary strategic goals. First, stop all military action and the immediate ending of violence against the Albanians. Second, withdrawal of Serb military, police and paramilitary forces from Kosovo. Third, the unconditional and safe return of all refugees and displaced persons with unhindered access to them by humanitarian aid organizations. Finally, the establishment of a political framework for Kosovo on the basis of the Rambouillet Accords, in conformity with international law and the Charter of the United Nations (Ugly p.198). In addition to the above stated objectives, it is imperative to maintain sound diplomatic relations between the United States, the UN and Russia throughout the operation. To stop the military actions taken by Serb forces, NATO began a large-scale air campaign. Tactical and strategic strikes yielded immediate and long-term effects on the Serbian war machine. Strikes on tactical targets, such as artillery and field command and control headquarters, had an immediate effect in disrupting attacks and ethnic cleansing efforts of the Serbs. Strikes against strategic infrastructure targets, such as Yugoslav military and police forces headquarters, other government ministries and refineries, had a longer-term and broader impact on the Serb military machine. In three months, the alliance flew just over 38,000 combat sorties, including 10,484 strikes. Serb forces were on the defense and could no longer conduct ethnic cleansing operations or effective attacks on KLA forces. The Serb war industry was degraded by at least 50...

Success Essay Example | Topics and Well Written Essays - 500 words

Success - Essay Example Success can either be a process or spontaneous although in most cases, success is considered as a process. Someone would be considered successful if they feel satisfied with the results of their work. Success may be prompted by hard work or smart work. In most cases, success is regarded as riches and accusation of vast wealth in the society. Anyone who possesses a lot of money and can command most of the things such as a country’s economy is considered to be a successful person regardless of other failures in life. There is however other forms of success which are not largely regarded in the society provided the man deemed successful is not rich. Success requires a lifelong journey of endurance and determination for it to become real and it is worth noting that it is not an easy journey. Unless one puts extraordinary pressure and decides to do above average activities without giving up, success cannot be inevitable. Passionate life may result into high level of success and the refore an individual should invest in passion as a way of spearheading success. Success requires a lot of strength and change of behavior into a positive way towards achieving greater heights. It is believed that success requires that an individual associates only with people and resources that can catapult them to the higher level.

Kurds and they are Stateless Nation Essay Example | Topics and Well Written Essays - 1250 words

Kurds and they are Stateless Nation - Essay Example This final element of independence or sovereignty is definitive of the modern conception of a state and makes the ultimate difference between being a state and being stateless. It is a common misconception to regard a nation and a state as synonymous but this is a product of a statist bias which gives partiality to recognized states over stateless nations including national minorities. There must be recognition of the presence of a plurality of states in relation to â€Å"stateless nations and their diaspora† (Baubock 310). The stability of states is an important aspect in ensuring the peace and order within a nation. The history of a state must be well-defined and transcend the co-existing history of certain regimes. This will provide for a thorough grasp to differentiate regimes from the actual state. Boundaries are equally susceptible in determining stability as those in power are usually the ones who impose themselves to take over public office. Support from the internatio nal community is necessary in order to preserve territorial integrity. Frequently, it is those states recognized in international affairs that enjoy support from other nations (Meadwell 273). The reality of the existence of substates that configure the entire dimension of understanding what a state is has been around for many generations. Most have been cultivated and subsisted for generations that dates back even prior to the establishment of the state as recognized in international world affairs. The comprehension of nationalism and belongingness cannot be delineated to a clear sense of limiting nationality to the constrictive term as defined by the United Nations in its quest to avoid statelessness. This was extensively discussed by the body of nations through the United Nations High Commission for Refugees (UNHCR) to tackle the problems that are encountered by refugees in conflicted areas (Balaton-Chrimes 2). But this concentrates on a more personal level through a discourse in the dilemmas encountered by individuals because of their condition as stateless. In a broader sense, nationalism entails a certain degree of belongingness and a commonality in culture and identity that simply declaring one to be a citizen of a particular country by birth or by blood does not equate to its full appreciation by the essence of what it implicates. This recognition from the international community gives the very life to the existence of the state. It also provides the creation of a country and its consequent statehood as well as affords it the capacity to partake in the international forum and exercise its rights as a nation. On the contrary, without the elements to make up a state certain groups that fundamentally comprise a state become dubbed as stateless for comparative purposes. These groups of people who generally have a stake in a particular territorial portion and with accompanying leaders lack sovereignty because they have no independence and are often assimilat ed in recognized states. This is where the Kurds as a stateless nation has been enduring their status as a massive group of people moving toward the elusive autonomy that they have been elusively seeking for decades and had made them among the most pronounced stateless nation in the world. The Kurds have been

Global Transport Providers Essay Example for Free

Global Transport Providers Essay The ocean carriers transport providers have introduced the Advanced Transport Communications System (ATCS). The trucker uses a GPS enabled cell-phone to enter information about the truck which is then received in the carriers and shippers systems of tracking. They report when they pick up and deliver the cargo using the first and last mile to track the cargo. This form of tracking has been introduced by the Port of Oakland, the Bay Area World Trade Centre and a group of technology partners and it reduces traffic congestion, air pollution and saves on time. However, one realizes that the rest of the journey is not tracked as only the first and last mile of the journey are reported. The cargo therefore can get lost on its way to the destination point. The freight forwarders provide a tracking system that allows the importer to place orders through the web. There is use of Pangaea which is a system that automates the process. It connects the freight forwarders, importers, exporters and the custom brokers through the web. It informs them on the progress made by the cargo through the forwarders offices placed all over the world. There is also the added advantage of line/part tracking feature offered by Pangaea which allows one to re-order, approximate position and also the arrival date of cargo, contents of the containers and retrieval of line item detail (http://www. pangaeaworld. com/product-linepartaspx). It also has the ability to operate at a multi-national level using multi-lingual employees in their offices. This then opens up the market where they would operate their businesses and those of the customers. The Marine Association of the Port of New York/New Jersey started the testing of the Automated Secure Vessel Tracking System(ASVT)in 2002. this system was developed by the Secure Assets Reporting Services (SARS) of Bellevue Washington. By using this tracking system, the parties involved will be able to locate their vessels worldwide on both ocean transit and on inland waterways.. The information on location and movement of the cargo carrying ship is available by the use of an encrypted password on the internet. The Secured Assets Reporting Services uses multiple satellite sources thus increase the ability of tracing the cargo at sea. The information can also be shared with the state and federal Homeland Security agencies thus increasing the ability to trace cargo when on transit and reduce chances of its getting lost. Advantages and disadvantages When using ocean carriers, there are various advantages and disadvantages. When used efficiently, there is reduction of cot as it carries more cargo thus more is under surveillance at a go. By using cell-phones to track cargo it makes it easier as anyone can do so from any part of the world. The major disadvantage of this system is the fact that it only checks when the cargo is picked up or delivered. It does not extend to when the cargo is on transit. Also it is specific phone brands that can be used for this tracking system. The major advantage of the freight is that it is available over the internet. It also keeps the parties involved informed of position of the cargo as this is done via internet. It is also operated at multinational level with offices in all market locations. The major disadvantage of freight forwarders is that it is very costly due to long distance shipping thus limiting ability of a small scale establishment to operate internationally. It also makes the tracking of the cargo expensive as it is done over a longer distance. The other major disadvantage is tat it does not cover the journey if one is not connected to the web. The port tracking system is designed to track the cargo on transit while revealing this information to a specific person only thus increasing security of who gets the information. The cargo is also tracked at sea by use of satellite whereby by using multiple satellite sources, the information is constantly available. The disadvantages are the requirements to have a computer system and ability to use it also a lot of manpower is needed to run the system. Recommendations Based on the research done and the information gotten, the best company for DD is the port tracking system. The rationale behind this conclusion is because the port tracking system has a way of tracking the cargo even at sea. This enables one to know at which point a specific cargo is. Also the fact that there are multiple satellite sources ensures that breakdown of one does not lead to loss of cargo. Each satellite source confirms the others information and nay anomaly is quickly noticed. By giving a password that is used to get the information from the internet means that information is not tampered with. It also ensures that only the relevant authority gets the information. By getting the information on exact position it means one can be able to conduct their sales with more precision. This is because delivery date is predictable on approximation. Finally, the disadvantages faced are also to be found in the other systems. The man power required is same as in the other systems and use of computers is also to be found in the freight forwarders while being substituted by cell phones in ocean carriers systems. Reference: Buxbaum P. A, 2007. Port Equipment and Technology – Tracking Last Mile Data. http://www. bawtc. com/tradenews-details-asp? partnerID=ArticleID=13317

Study on Financial Statements and Ratios of Banks

Study on Financial Statements and Ratios of Banks 4.0 Introduction The data analysis chapter has been divided into two parts. In the first part, I have tried to do some sort of quantitative analysis. The first part is based on the financial statements and key ratios of both the chosen banks. Again it was broken down into sub-points like the analysis of data before recession and after recession. Some key ratios were calculated, compared and analysed from the financial data of last 10 years for both the banks. The second part of this chapter is a mixture of literature review data analysis and some points were written with reference to the analysis done in first part in my own words. 4.1 Analysis of Data Derived from Financial Statements and Ratios 4.1.1 Bank Status before Recession After Recession To be able to answer our research questions it is imperative to look at the two companies data from financial statements, this will reveal the risks inherent in each banks operation. The analysis utilizes data from the financial statements of the banks under review from year 2005 to 2010 just before recession started. While the two banks have similarities in risk management RBS use pounds while HSBC use dollars as the basis currency in the books of accounts, while this may hinder the analysis especially quantitative analysis the general data increase and decrease is an important aspect sufficient for this study. 4.2 Financial Position of RBS 4.2.1 Financial Position of RBS before recession (2004-2005, 2005-2006, 2006-2007) The Royal Bank of Scotland turnover had been on steady increase, in the financial year ending December 2007 the turnover was  £30,366 million; in 2005 the turnover was  £25902 million while in the year ending 2006 turnover increased to  £28002 million. In 2005 operating profits were  £7936 million while in 2006 operating profits increased marginally to  £9186 and in 2007  £9807 million. Profits before tax has been on steady increase from  £7936million in 2005 to  £9186 and  £9832 million in 2006 and 2007 million respectively. 4.2.2 Financial Position of RBS After Recession (2007-2008, 2009-2010) The turnover for year 2008 was  £25868 Million and finally the turnover for the year ending December 2009 was  £38690 million. In but in 2008 and 2009 losses of  £40836 and  £2595 were recorded respectively, this was after recession started. The full details for the full year 2010 results have not been announced but the first half results profits had increased by 44% to  £3950 million. Table 1 Royal Bank of Scotland Profit and loss Extracts Year Ended 31 Dec 2010 2009 2008 2007 2006 2005  £millions  £  £  £  £  £  £ Turnover 38690.0 25868.0 30366.0 28002.0 25902.0 Operating Profit Q3 726 -2595 -40836.0 9807 9186 7936 Profits before tax -2595 -40836.0 9832.0 9186.0 7936.0 Source; RBS website 4.3 Financial Positions of HSBC 4.3.1 Financial Positions of HSBC before recession On the other hand the turnovers for HSBC on the financial years under review were as follows; year 2007 the turnover was $ 87601 million, $ 61704 million in 2005 and $70070 million in 2006 in terms of operating profits, the group managed $20966.0m, $21240.0m and $22709.0m in years 2005, 2006 and 2007 respectively. Profits before tax were $20966m, $22086m, and $24212m in years 2005, 2006, and 2007. 4.3.2 Financial Positions of HSBC After recession The group managed a turnover of $ 88571 million and $ 78631 million in 2008 and 2009 accounting periods respectively. HSBC recorded $ 22709 million profit in 2007; however the profits declined substantially to $7646 million in 2008 and $ 5298 in 2009 again profits were affected as recessionary fears started. In third quarter of 2010 the profits increased marginally. Table 2 HSBC Profit and Loss Extracts Year Ended 31 Dec 2010 2009 2008 2007 2006 2005 $millions $ $ $ $ $ $ Turnover 78631 88571 87601 70070 61704 Operating Profit 5298 7646 22709 21240 20966 Profit before tax 7079 7079 9307 24212 20086 20966 Source: HSBC website 4.4 Tabular, Graphical representation, interpretation and analysis of key ratios of HSBC RBS for last 10 years In the next few pages, I have tried to present the data in tables, graphs and charts. Some of the data was presented and calculated for last 10 years and some for the last 5-6 years. Some of the key ratios as given below were calculated, analysed and compared for both the banks. Net Interest Margin Return on equity Capital adequacy Liquidity ratio Non-performing assets ratio Loans Turnover ratio Loans to Assets ratio Gross Yield on Earning Assets (GYEA) Table 3 HSBC Ratio Analysis in percentage Year Ending 31 Dec 2010 up to June 2009 2008 2007 2006 2005 2004 2003 2001 Net Interest Margin 3.25 3.09 3.05 2.00 3.4 2.04 2.60 2.54 2.24 ROE 11.1 12.3 11.21 9.62 11.60 12.25 11.2 15.6 13.21 Capital Adequacy 11.50 11.60 11.75 10.89 10.97 11.01 11.12 11.31 11.63 Liquidity ratio 2.20 2.50 3.62 4.21 5.31 6.54 1.23 1.11 2.15 Nonperforming assets ratio 2.17 2.27 2.12 2.14 2.16 2.14 2.11 2.01 2.00 Loans Turnover ratio 66.2 55.2 25.10 29.2 54.0 59.1 67.12 74.21 76.45 Loans to Assets ratio 0.60 0.40 0.22 0.15 0.12 0.113 0.21 0.28 0.32 GYEA 5.21 4.60 4.49 4.36 4.24 4.42 4.68 4.29 3.26 Source: Data glanced from HSBC website and did personal analysis. Figure 4 HSBC ratio analyses (Note: all the figures are in percentage) Table 4 RBS Ratio analysis as a percentage Year Ending 31 Dec 2010 up to June 2009 2008 2007 2006 2005 2004 2003 2001 Net Interest Margin 1.97 1.76 1.70 1.75 1.83 1.91 2.01 2.03 1.92 ROE 12 11.5 11.4 9 9.6 9.12 14 11.2 10 Capital Adequacy 12.51 11.44 11.95 12.98 11.72 11.10 12.21 13.11 13.23 Liquidity Ratio 3.21 2.42 3.21 5.22 3.23 3.29 2.23 2.11 3.15 Nonperforming Assets Ratio 11.1 14.1 16.1 12.15 12.11 12.10 11.11 11.01 10.10 Loans Turnover Ratio 66.9 45.25 44.15 39.2 44.0 49.12 57.21 63.32 66.00 Loans to Assets Ratio 1.56 1.45 1.35 1.40 1.19 0.20 0.89 0.46 0.56 GYEA 3.33 4.6 2.12 4.06 4.12 3.28 2.86 2.92 2.45 Source: Data glanced from RBS website and did personal analysis Fig. Comparison of the two banks PL data Generally over the years the turnover of the two banks has been increasing but the increase in HSBC turnover has been moderate while that of RBS has been steep. HSBC has managed to remain profitable for the period of analysis showing that the company has been able to mitigate the risks well as compared to RBS. RBS made substantial operating losses amounting to 2595 million in 2009 and had to be supported by the government as a result of subprime mortgage crisis. The data show that HSBC has adopted prudent management even though profits declined, the ratios show the group has maintained strong capital base Findings During the two years before year 2009 and after the two banks were adversely affected by economic condition. The profit and loss analysis from the two banks show that HSBC has been able to tackle liquidity risks well as it has been able to maintain profitability through out even during the recession on the other hand RBS was affected and made losses in 2007, 2008 and 2009 but the half year available indicate the bank has returned to profitability after the government support. The profitability before tax is shown in the figure below. Figure 5 Source: Data glanced from RBS and HSBC websites and did personal analysis Note: HSBS figures are in million dollars while figures for RBS are in million pounds. 4.5 Literature Review Data Analysis This dissertation presents the underlying strategies and approaches applied by the top UK banks in learning the differences between HSBC and Royal Bank of Scotland. The strategies and approaches are observed before and after the recession period when assets and stocks were reducing in value putting the banks in worst case financial scenario. To compare their financial, business and operational risks concern will create a bigger picture. The aim is to determine which between the two banks has a better and effective approach and strategy in the risk-reduction initiatives (Drew Michael, et al., 1996) Banks in United Kingdom have relied upon a proven system of strong liquidity risk management. This has been in existence for over three years now and since the system was started banks have made it a priority to update their systems of risk management to keep abreast with the changing demands of the society and technological innovations associated with risk management. Financial stability is easily achieved by following less complicated process and that is to stick to the rules and created in less difficult way that whenever you try to explain it to a customer or client. The grasp of the policy will then be easily absorbed (Issing, 2004). The liquidity risk management of most United Kingdom has been seen to be strong and responsive whenever banks experience risks. Banks have to ensure that they exercise prudent risk management to be able to provide customer satisfaction, but some of the banks are less committed to the task to minimize their exposure to risks. It can be costly to the bank and expose the bank to court cases, licence cancellation by the supervisory authorities and customers withdrawing from the bank. The only way to do this is to create a reliable system of liquidity risk management (Issing, 2004). Risk management actions count the most in the future and especially in setting the reputation of the banks. Extra effort is required in creating policies that will withstand the effect of any risks. Being able to communicate the recent risk situation among the team members will help a lot in the resolution and in effectively carrying out the regulations which they intended to implement for the banks organization. A manifestation of a high level of activity would spell a lot of difference compared to those who lag behind due to poor management risk planning (Kahf Homud, 1998). An effective liquidity risk management is able to make anticipations on the occurrence of future risks. There is also a type of liquidity risk management that can only provide satisfactory level of service or performance, however, it possess certain weakness though very insignificant, it may still deliver anticipated results like those managements that are strong since it only manifest very minor signs ineffectiveness (Bank of England 2007). HSBS and the Royal Bank of Scotland are not just the top banks in United Kingdom they are the two banks that show an impressive liquidity risk management. This record could be very much proven by the profits earned annually and the impression they make among their customers is excellent and they never settle for anything less. The two banks have applied similar systems although HSBC is the bank that shows the most impressive and effective strategy/ approach against a liquidity risk. They always make sure to protect not only their money but also protect the welfare of their customers and intend to move with them and manage their finances by avoiding incompetence in dealing with liquidity risks. HSBS guides their customer from the time they enter the institution until the time they become part of a much growing and impressive banking industry (Bank of England 2007). In the last two years HSBC only experienced short term recession only, they had prepared for the recession, through management and the fact that they had experienced a crisis before and had rectified it by creating a frame work that worked well for the bank. Prudent risk management at HSBC can be analysed by looking at the profits that the bank has earned recently where the bank doubled its half-year profits by posting  £7 billion as at August 2010, this is at a time when smaller banks were feeling the effects of recession. Analysts have seen the capabilities of the bank base from their well-managed systems and strategies. They had already expected such things to happen so there is nothing surprising about that (Goodway, 2007). The banks have taken all necessary precautions and the management maintains optimism that in case of risks they will find a way out. The way the two banks react to problems is always quick thus they are able to find real time solutions. This strategy is a good way of keeping loyal customers. The primary goal is to offer consistency in performance whether the nature of the transaction differs or not, this is exemplified by the HSBC spirit of being consistent and reliable in every possible way. One of the ways that the banks have avoided the risks is to anticipate the risks thus making in advance plans. HSBC has made a point to anticipate risks and make plans to mitigate or avoid the risks completely, this is seen in the banks preparation of the recession in the last two years the bank made adequate plans and adopted prudent lending, adopted technology and minimized operations expenses, while other bank were unprepared and had to be rescued by the government. HSBC operates inn flexible economies, this has been explained by looking at the diversity of the markets it operates, and this gave the bank diversity as not all markets experienced recession. HSBC reaction to risks is a testimony to its objective to effectively handle risks, one such objective identified in the study was is to create liquidity through making an arrangement to leaseback or sell assets whenever loans are defaulted (Goodway, 2007) On the other hand, the Royal Bank of Scotland has similar strategies, before recession the management had drawn a plan on risk management, this is exemplified by the fact that they didnt change their banking rates during this period. Although they needed to take precautions on the insurance, once this has been resolved they could go back to the most important part which is keeping the business even more profitable (Aldrick, 2008). Royal Bank of Scotland (2011) strategy has been to invest heavily in being relevant to the needs of the customer; the bank has also created a buffer to protect the bank in times of recession. In 2007 the bank lost 3% in book value as it experienced subprime related mortgage crisis, but the bank made an effort in ensuring that the customers needs were addressed as soon as possible and assured clients that their accounts with the bank were safe. The Royal Bank of Scotland has not seen changes in sub-prime related write downs, the bank has remained stable. During the recession the bank still managed  £ 1.1 billion in half year profits, though the bank was affected by recession as it could not prevent the effects of recession on their profits and capital enhancements. When making a comparison between the two banks, they differ on how they carry out their risk strategies but have similar characteristics. 4.5.1 Implications of recession on house mortgage and corresponding subprime losses HSBC has always tried to offer options that are sustaining and a relief to those who are about to lose their home due to the effect of recession, some of the options are leaseback and sales. In terms risk management HSBC has adopted a different approach when it comes to helping customers experiencing cash flow problems in paying mortgage. The bank identifies the need to assess the urgency to save the customers financial status or his house under mortgage (Goodway, 2007); the bank allows customers to modify their loan allowing customers to pay the loan at an adjusted future time. This reduces the risk to both the customer and the bank. On the other hand Royal Bank of Scotland reduce risks by allowing variable or fixed mortgage rate, and has applied the straightforward approach where a customer mortgage application is approved decisively, this ensures the payments are as flexible as possible. The bank has also limited the bank charges it can attach to an account thus creating customer satisfaction. 4.5.2 Bank Strategies and Policies Applied The effectiveness of the banks strategy and approach can be analysed by looking at how well the banks management performed their roles. As risks are recognized the management needs to assess the risks and careful interpretation of the consequences. If the management do not carefully assess the crisis, then the risk might probably worsen until it can no longer be helped (RBS, 2011). The loan modification adopted by HSBC may not work as it is difficult to find a common ground. It may also not be possible to carry out assessment and evaluation. The Royal Bank of Scotland has minimized its risk exposure by allowing the straightforward method, thus the bank is able to assess the qualification of each customer. 4.5.3 Criteria for house mortgage loan allocation Both banks utile interest options, period of payment, and a flexible payment options. However, the criteria need to be assessed on individual application basis while at the same time maintaining objectivity and should not be applied to all. This criterion has to be flexible in terms of meeting the customer needs such as unforeseen circumstances. The current criteria risk the banks profit if it is contravened, it should allow the customers meet their monthly loan repayment deadlines. It can be very well taken into account that the system used by these two is similar to those applied by the rest of the banks in United Kingdom (Effros, 1998). However, the researcher intends to discuss the reliability of the system utilized by the two chosen banks as they encounter inevitable risks in global economic environment. A study of the HSBC system shows how well they have managed risks that have placed other banks in receivership. The study helps to understand the important issues needs to be tackled by a bank to manage risks successfully. The two banks have had good financial risk management, in terms managing the credit and market risks by having a proper risk assessment. These two risks take place when an improper assessment is made (Newman, 2006). Strong and reliable management organization has been used as a tool to help the banks strengthen and arrive to a risk free system. In case of system failures a dependable measure has been created that would minimize financial implications. The banks initiative is to push the participation of the depositors in the program and to treat them as among the driving force which affects the system. The methods are extensively researched and adapted among institutions which mean that it has been carefully checked (Banks, 2003). Extensive study on the feasibility of the issue in addressing the effectiveness of system implemented in the banking institution. In the previous discussion, regarding the imposition of law affecting banking system, the European banks are known to be sanctioned under a strict regulation whereby giving them less control over their own management. The variability in the solution technique being employed by either HSBC or the Royal Bank of Scotland cannot simply be the solution to this problem. It is the way they approach the problem with a system proven by time. The HSBC and the Royal Bank of Scotland have several financial planning portfolios in helping the customers reach their goals. The two banks have manifested expertise in providing the most expert advice on planning and investing. They consider it as their responsibility to provide their customer with the best advice available and have to be right and fitting to their customers needs. They exert and commit themselves as they go the extra mile of keeping their customers for a lifetime by answering and addressing quickly their customers growing demands and they have never failed to do so (Newman, 2006). The banks will not wait in vain but makes sure that they get to customers and provides them with a personalized service that cannot be found from other bank institutions creating confidence and trust with the customers. No wonder these two banks were voted top United Kingdom banks (Duttweiler, 2009). The assessment of the policy utilized by these two banks operates as a measure that monitors whether a prescribed risk guideline has been complied with and then makes a report accordingly (Crouhy, 2006). The design of the policy has been able to achieve the appropriate strategy, though require the framework and the funding capacity be adequately met by the funding institution. The design as a result, gives the customer the assurance and the security as they are given the key role and part in developing the system. The United Banking system has also been extensively analysed in this dissertation. Risks such as the financial and operational risks has been analysed by relating them to the strategies being employed by each bank, thus, an empirical method has been applied by exploring details about each bank. Various important factors about a banking institutions risk management system have been looked into as well. Looking into the advantages of a well-organized risk management banking system will help minimize damages brought by liquidity risks. A well-managed and well carried management plan will save the bank from recovering from years, after suffering from significant financial risks. Chapter 6 Conclusions and Recommendations 6.1 Conclusions While the data analysed show similarities in the way the two banks manage liquidity risks HSBC has prudently managed the risks better as compared to RBS. The profits before tax for the two banks indicate that RBS made losses for the last two years while HSBC has maintained profitability despite recession. Fair amount of loans have been advanced that may not pose great risk to both banks, the loan to asset rate is low for both banks and this reduces unnecessary exposure to bad debts. The ratios indicate the banks have maintained adequate capital bases that can with stand systemic risks. HSBC has managed to maintain low operating margins leveraging on technology to deliver products thus avoiding high staff expenses, on the other hand RSB government ownership reduces the risk exposure and thus the bank has been able to obtain loans from the bank after the recent recession, the operating margins are negative for the last two years indicating the bank has not been able to achieve optimal operations. After a sustained increase in the operating profits of RBS before the recession profits declined from 9807 million pounds in 2007 to losses of 2595 million pounds, this emanated from the exposure of the bank to mortgage related risks therefore to ensure the bank is protected from the risk the bank should carry out evaluation on the ability of the customers to meet the monthly mortgage requirements. The effectiveness of the risks management policies of the banks under study has been evaluated, to be able to have a wider view about risk management bank mortgage and subsequent reaction to recession has been analysed. When the risk management policies that each of the banks under consideration is evaluated, HSBC possess the most formidable liquidity risk management policy implementation well articulated in the banks reaction to the recession. The study established that the liquidity risk management plays an important role in monitoring the flow of assets into the banks system. Banks are required to have standard set of policy to affect its benefits. However, without a reliable system from which the organization management plan is created, it is easy to say that such a management plan will not be effective. It will produce no progress at all and could costly on the part of those who implement these management strategies. Since the two banks have applied similar systems; HSBC is the bank that shows the most impressive and effective strategy/ approach against liquidity risk. They always make sure to protect not only their money also they make sure that they protect the welfare of their customers. The dissertation focus on the UK banking system was ideal as the perfect niche where to study liquidity risk because the banks have a wide access to almost all parts of the world and. The banks are universal and possess that impressive banking track record. HSBC and the Royal Banks of Scotland are equally as competent and committed to a strong liquidity risk management (Casu Molyneux, 2001). However, this study was limited to the top two banks it is recommended that in order to understand liquidity risk a study should be conducted not only on those two banks but also on those ranked at the bottom. This way it is possible to understand the liquidity risk in the banking industry and serve as a basis of reference by other researchers or particular areas of concern that may be a source of risk for banks. It should also be necessary that a case study be conducted on a particular scenario focusing only on one risk management area so as to have a clearer view. The banking system is explained along with some points on how important it is to build a strong impression with international institutions by securing a reliable system within the bank by good risk management policies that serve as its foundation. A discussion on the importance of liquidity risk management policy has been explored using policies as the guidelines and indicators that help determine the confidence level in each banking system. If weak policy system is in place, it gives doubt as to the effectiveness of the risk management approach. Royal Bank of England has been analysed and the responsibility it has on the control of rates. The bank has been used as the point of reference since it has flexibility in decision making as well as its crucial to the good functioning or detriment of the whole banking institution in United Kingdom. The HSBC and the Royal Bank of Scotland has impressive financial planning portfolios that are geared towards helping the customers reach their goals. They make it their utmost responsibility to provide their customer with the best options that are available and have committed to meet the customers need. The two banks provide the most expert advice on planning and investing. An analysis of HSBC system shows that they have managed risks well, including risks that have placed other banks in receivership. The Royal Bank of Scotland equally possesses reliable strategy where all the decisions regarding risks have to be decided after careful analysis and Proper management of credit and market risks is essential in eliminating financial risks. The study established that these two risks occur when an improper assessment is made. The commitment of the management of an organization is an important element needed to help reduce the risk on possibility of a bank to collapse. It is a guiding force that a responsible banking institution must adhere to, so as to avoid the consequences of financial failure because of mismanagement. Proper risk management could be a simple way of solving liquidity risk problem which management believe is difficult to tackle. In order to protect their earnings the banks have to institute proper risk management policies as it is not always predictable where risks will emerge. The two banks under study have implemented some of the most desired risk management policies. Many banks were severely affected by the recession but HSBC and RBS still returned maximum profits despite the operating environment existing in 2010 the financial year under review. Customers are concerned with the risk management practises of their banks this is because it also determines the availability of credit and all necessary bank products that they need. 6.2 Recommendations The banks need to ensure that the risk exposure on their portfolios is minimized or eliminated completely. While the recession risks were inevitable the need to anticipate liquidity risks are imperative. HSBC had gone through a crisis however the management had foresight and planned well for the recession on the other hand RBS had to rely on government bail out to minimize the risks the mortgage portfolio had. The need to pursue vigorous risk management policies is important than before, while management decisions influence the direction of the banks, careful planning and consulting is essential. A deep analysis of the causes of the losses registered in the last two years would be a good starting point to be able to collect the mistakes. Management will be valuable in this, the ability of the management to run smoothly the banks and predict future risk will determine the bank that emerges from recession stronger. From the data analyzed while turnover for the banks increased the operating profits were affected by the recession. Like HSBC did RBS need to leverage on technology to reduce operating losses. 6.2.1 Recommendations on Managing liquidity through Organizational structure and Governance It is imperative that the two banks define the liquidity risks exhaustively this will ensure that the risks the banks are exposed to are identified and placed in respective risk category, then the risks are communicated to the respective groups to that they can identify, understand and evaluate liquidity risks that the banks face including new lines of business, products, acquisitions, alliances or any initiative that the banks intend to participate. A clear understanding of the various risks is essential particularly distinguishing Market liquidity and funding liquidity risks. R Study on Financial Statements and Ratios of Banks Study on Financial Statements and Ratios of Banks 4.0 Introduction The data analysis chapter has been divided into two parts. In the first part, I have tried to do some sort of quantitative analysis. The first part is based on the financial statements and key ratios of both the chosen banks. Again it was broken down into sub-points like the analysis of data before recession and after recession. Some key ratios were calculated, compared and analysed from the financial data of last 10 years for both the banks. The second part of this chapter is a mixture of literature review data analysis and some points were written with reference to the analysis done in first part in my own words. 4.1 Analysis of Data Derived from Financial Statements and Ratios 4.1.1 Bank Status before Recession After Recession To be able to answer our research questions it is imperative to look at the two companies data from financial statements, this will reveal the risks inherent in each banks operation. The analysis utilizes data from the financial statements of the banks under review from year 2005 to 2010 just before recession started. While the two banks have similarities in risk management RBS use pounds while HSBC use dollars as the basis currency in the books of accounts, while this may hinder the analysis especially quantitative analysis the general data increase and decrease is an important aspect sufficient for this study. 4.2 Financial Position of RBS 4.2.1 Financial Position of RBS before recession (2004-2005, 2005-2006, 2006-2007) The Royal Bank of Scotland turnover had been on steady increase, in the financial year ending December 2007 the turnover was  £30,366 million; in 2005 the turnover was  £25902 million while in the year ending 2006 turnover increased to  £28002 million. In 2005 operating profits were  £7936 million while in 2006 operating profits increased marginally to  £9186 and in 2007  £9807 million. Profits before tax has been on steady increase from  £7936million in 2005 to  £9186 and  £9832 million in 2006 and 2007 million respectively. 4.2.2 Financial Position of RBS After Recession (2007-2008, 2009-2010) The turnover for year 2008 was  £25868 Million and finally the turnover for the year ending December 2009 was  £38690 million. In but in 2008 and 2009 losses of  £40836 and  £2595 were recorded respectively, this was after recession started. The full details for the full year 2010 results have not been announced but the first half results profits had increased by 44% to  £3950 million. Table 1 Royal Bank of Scotland Profit and loss Extracts Year Ended 31 Dec 2010 2009 2008 2007 2006 2005  £millions  £  £  £  £  £  £ Turnover 38690.0 25868.0 30366.0 28002.0 25902.0 Operating Profit Q3 726 -2595 -40836.0 9807 9186 7936 Profits before tax -2595 -40836.0 9832.0 9186.0 7936.0 Source; RBS website 4.3 Financial Positions of HSBC 4.3.1 Financial Positions of HSBC before recession On the other hand the turnovers for HSBC on the financial years under review were as follows; year 2007 the turnover was $ 87601 million, $ 61704 million in 2005 and $70070 million in 2006 in terms of operating profits, the group managed $20966.0m, $21240.0m and $22709.0m in years 2005, 2006 and 2007 respectively. Profits before tax were $20966m, $22086m, and $24212m in years 2005, 2006, and 2007. 4.3.2 Financial Positions of HSBC After recession The group managed a turnover of $ 88571 million and $ 78631 million in 2008 and 2009 accounting periods respectively. HSBC recorded $ 22709 million profit in 2007; however the profits declined substantially to $7646 million in 2008 and $ 5298 in 2009 again profits were affected as recessionary fears started. In third quarter of 2010 the profits increased marginally. Table 2 HSBC Profit and Loss Extracts Year Ended 31 Dec 2010 2009 2008 2007 2006 2005 $millions $ $ $ $ $ $ Turnover 78631 88571 87601 70070 61704 Operating Profit 5298 7646 22709 21240 20966 Profit before tax 7079 7079 9307 24212 20086 20966 Source: HSBC website 4.4 Tabular, Graphical representation, interpretation and analysis of key ratios of HSBC RBS for last 10 years In the next few pages, I have tried to present the data in tables, graphs and charts. Some of the data was presented and calculated for last 10 years and some for the last 5-6 years. Some of the key ratios as given below were calculated, analysed and compared for both the banks. Net Interest Margin Return on equity Capital adequacy Liquidity ratio Non-performing assets ratio Loans Turnover ratio Loans to Assets ratio Gross Yield on Earning Assets (GYEA) Table 3 HSBC Ratio Analysis in percentage Year Ending 31 Dec 2010 up to June 2009 2008 2007 2006 2005 2004 2003 2001 Net Interest Margin 3.25 3.09 3.05 2.00 3.4 2.04 2.60 2.54 2.24 ROE 11.1 12.3 11.21 9.62 11.60 12.25 11.2 15.6 13.21 Capital Adequacy 11.50 11.60 11.75 10.89 10.97 11.01 11.12 11.31 11.63 Liquidity ratio 2.20 2.50 3.62 4.21 5.31 6.54 1.23 1.11 2.15 Nonperforming assets ratio 2.17 2.27 2.12 2.14 2.16 2.14 2.11 2.01 2.00 Loans Turnover ratio 66.2 55.2 25.10 29.2 54.0 59.1 67.12 74.21 76.45 Loans to Assets ratio 0.60 0.40 0.22 0.15 0.12 0.113 0.21 0.28 0.32 GYEA 5.21 4.60 4.49 4.36 4.24 4.42 4.68 4.29 3.26 Source: Data glanced from HSBC website and did personal analysis. Figure 4 HSBC ratio analyses (Note: all the figures are in percentage) Table 4 RBS Ratio analysis as a percentage Year Ending 31 Dec 2010 up to June 2009 2008 2007 2006 2005 2004 2003 2001 Net Interest Margin 1.97 1.76 1.70 1.75 1.83 1.91 2.01 2.03 1.92 ROE 12 11.5 11.4 9 9.6 9.12 14 11.2 10 Capital Adequacy 12.51 11.44 11.95 12.98 11.72 11.10 12.21 13.11 13.23 Liquidity Ratio 3.21 2.42 3.21 5.22 3.23 3.29 2.23 2.11 3.15 Nonperforming Assets Ratio 11.1 14.1 16.1 12.15 12.11 12.10 11.11 11.01 10.10 Loans Turnover Ratio 66.9 45.25 44.15 39.2 44.0 49.12 57.21 63.32 66.00 Loans to Assets Ratio 1.56 1.45 1.35 1.40 1.19 0.20 0.89 0.46 0.56 GYEA 3.33 4.6 2.12 4.06 4.12 3.28 2.86 2.92 2.45 Source: Data glanced from RBS website and did personal analysis Fig. Comparison of the two banks PL data Generally over the years the turnover of the two banks has been increasing but the increase in HSBC turnover has been moderate while that of RBS has been steep. HSBC has managed to remain profitable for the period of analysis showing that the company has been able to mitigate the risks well as compared to RBS. RBS made substantial operating losses amounting to 2595 million in 2009 and had to be supported by the government as a result of subprime mortgage crisis. The data show that HSBC has adopted prudent management even though profits declined, the ratios show the group has maintained strong capital base Findings During the two years before year 2009 and after the two banks were adversely affected by economic condition. The profit and loss analysis from the two banks show that HSBC has been able to tackle liquidity risks well as it has been able to maintain profitability through out even during the recession on the other hand RBS was affected and made losses in 2007, 2008 and 2009 but the half year available indicate the bank has returned to profitability after the government support. The profitability before tax is shown in the figure below. Figure 5 Source: Data glanced from RBS and HSBC websites and did personal analysis Note: HSBS figures are in million dollars while figures for RBS are in million pounds. 4.5 Literature Review Data Analysis This dissertation presents the underlying strategies and approaches applied by the top UK banks in learning the differences between HSBC and Royal Bank of Scotland. The strategies and approaches are observed before and after the recession period when assets and stocks were reducing in value putting the banks in worst case financial scenario. To compare their financial, business and operational risks concern will create a bigger picture. The aim is to determine which between the two banks has a better and effective approach and strategy in the risk-reduction initiatives (Drew Michael, et al., 1996) Banks in United Kingdom have relied upon a proven system of strong liquidity risk management. This has been in existence for over three years now and since the system was started banks have made it a priority to update their systems of risk management to keep abreast with the changing demands of the society and technological innovations associated with risk management. Financial stability is easily achieved by following less complicated process and that is to stick to the rules and created in less difficult way that whenever you try to explain it to a customer or client. The grasp of the policy will then be easily absorbed (Issing, 2004). The liquidity risk management of most United Kingdom has been seen to be strong and responsive whenever banks experience risks. Banks have to ensure that they exercise prudent risk management to be able to provide customer satisfaction, but some of the banks are less committed to the task to minimize their exposure to risks. It can be costly to the bank and expose the bank to court cases, licence cancellation by the supervisory authorities and customers withdrawing from the bank. The only way to do this is to create a reliable system of liquidity risk management (Issing, 2004). Risk management actions count the most in the future and especially in setting the reputation of the banks. Extra effort is required in creating policies that will withstand the effect of any risks. Being able to communicate the recent risk situation among the team members will help a lot in the resolution and in effectively carrying out the regulations which they intended to implement for the banks organization. A manifestation of a high level of activity would spell a lot of difference compared to those who lag behind due to poor management risk planning (Kahf Homud, 1998). An effective liquidity risk management is able to make anticipations on the occurrence of future risks. There is also a type of liquidity risk management that can only provide satisfactory level of service or performance, however, it possess certain weakness though very insignificant, it may still deliver anticipated results like those managements that are strong since it only manifest very minor signs ineffectiveness (Bank of England 2007). HSBS and the Royal Bank of Scotland are not just the top banks in United Kingdom they are the two banks that show an impressive liquidity risk management. This record could be very much proven by the profits earned annually and the impression they make among their customers is excellent and they never settle for anything less. The two banks have applied similar systems although HSBC is the bank that shows the most impressive and effective strategy/ approach against a liquidity risk. They always make sure to protect not only their money but also protect the welfare of their customers and intend to move with them and manage their finances by avoiding incompetence in dealing with liquidity risks. HSBS guides their customer from the time they enter the institution until the time they become part of a much growing and impressive banking industry (Bank of England 2007). In the last two years HSBC only experienced short term recession only, they had prepared for the recession, through management and the fact that they had experienced a crisis before and had rectified it by creating a frame work that worked well for the bank. Prudent risk management at HSBC can be analysed by looking at the profits that the bank has earned recently where the bank doubled its half-year profits by posting  £7 billion as at August 2010, this is at a time when smaller banks were feeling the effects of recession. Analysts have seen the capabilities of the bank base from their well-managed systems and strategies. They had already expected such things to happen so there is nothing surprising about that (Goodway, 2007). The banks have taken all necessary precautions and the management maintains optimism that in case of risks they will find a way out. The way the two banks react to problems is always quick thus they are able to find real time solutions. This strategy is a good way of keeping loyal customers. The primary goal is to offer consistency in performance whether the nature of the transaction differs or not, this is exemplified by the HSBC spirit of being consistent and reliable in every possible way. One of the ways that the banks have avoided the risks is to anticipate the risks thus making in advance plans. HSBC has made a point to anticipate risks and make plans to mitigate or avoid the risks completely, this is seen in the banks preparation of the recession in the last two years the bank made adequate plans and adopted prudent lending, adopted technology and minimized operations expenses, while other bank were unprepared and had to be rescued by the government. HSBC operates inn flexible economies, this has been explained by looking at the diversity of the markets it operates, and this gave the bank diversity as not all markets experienced recession. HSBC reaction to risks is a testimony to its objective to effectively handle risks, one such objective identified in the study was is to create liquidity through making an arrangement to leaseback or sell assets whenever loans are defaulted (Goodway, 2007) On the other hand, the Royal Bank of Scotland has similar strategies, before recession the management had drawn a plan on risk management, this is exemplified by the fact that they didnt change their banking rates during this period. Although they needed to take precautions on the insurance, once this has been resolved they could go back to the most important part which is keeping the business even more profitable (Aldrick, 2008). Royal Bank of Scotland (2011) strategy has been to invest heavily in being relevant to the needs of the customer; the bank has also created a buffer to protect the bank in times of recession. In 2007 the bank lost 3% in book value as it experienced subprime related mortgage crisis, but the bank made an effort in ensuring that the customers needs were addressed as soon as possible and assured clients that their accounts with the bank were safe. The Royal Bank of Scotland has not seen changes in sub-prime related write downs, the bank has remained stable. During the recession the bank still managed  £ 1.1 billion in half year profits, though the bank was affected by recession as it could not prevent the effects of recession on their profits and capital enhancements. When making a comparison between the two banks, they differ on how they carry out their risk strategies but have similar characteristics. 4.5.1 Implications of recession on house mortgage and corresponding subprime losses HSBC has always tried to offer options that are sustaining and a relief to those who are about to lose their home due to the effect of recession, some of the options are leaseback and sales. In terms risk management HSBC has adopted a different approach when it comes to helping customers experiencing cash flow problems in paying mortgage. The bank identifies the need to assess the urgency to save the customers financial status or his house under mortgage (Goodway, 2007); the bank allows customers to modify their loan allowing customers to pay the loan at an adjusted future time. This reduces the risk to both the customer and the bank. On the other hand Royal Bank of Scotland reduce risks by allowing variable or fixed mortgage rate, and has applied the straightforward approach where a customer mortgage application is approved decisively, this ensures the payments are as flexible as possible. The bank has also limited the bank charges it can attach to an account thus creating customer satisfaction. 4.5.2 Bank Strategies and Policies Applied The effectiveness of the banks strategy and approach can be analysed by looking at how well the banks management performed their roles. As risks are recognized the management needs to assess the risks and careful interpretation of the consequences. If the management do not carefully assess the crisis, then the risk might probably worsen until it can no longer be helped (RBS, 2011). The loan modification adopted by HSBC may not work as it is difficult to find a common ground. It may also not be possible to carry out assessment and evaluation. The Royal Bank of Scotland has minimized its risk exposure by allowing the straightforward method, thus the bank is able to assess the qualification of each customer. 4.5.3 Criteria for house mortgage loan allocation Both banks utile interest options, period of payment, and a flexible payment options. However, the criteria need to be assessed on individual application basis while at the same time maintaining objectivity and should not be applied to all. This criterion has to be flexible in terms of meeting the customer needs such as unforeseen circumstances. The current criteria risk the banks profit if it is contravened, it should allow the customers meet their monthly loan repayment deadlines. It can be very well taken into account that the system used by these two is similar to those applied by the rest of the banks in United Kingdom (Effros, 1998). However, the researcher intends to discuss the reliability of the system utilized by the two chosen banks as they encounter inevitable risks in global economic environment. A study of the HSBC system shows how well they have managed risks that have placed other banks in receivership. The study helps to understand the important issues needs to be tackled by a bank to manage risks successfully. The two banks have had good financial risk management, in terms managing the credit and market risks by having a proper risk assessment. These two risks take place when an improper assessment is made (Newman, 2006). Strong and reliable management organization has been used as a tool to help the banks strengthen and arrive to a risk free system. In case of system failures a dependable measure has been created that would minimize financial implications. The banks initiative is to push the participation of the depositors in the program and to treat them as among the driving force which affects the system. The methods are extensively researched and adapted among institutions which mean that it has been carefully checked (Banks, 2003). Extensive study on the feasibility of the issue in addressing the effectiveness of system implemented in the banking institution. In the previous discussion, regarding the imposition of law affecting banking system, the European banks are known to be sanctioned under a strict regulation whereby giving them less control over their own management. The variability in the solution technique being employed by either HSBC or the Royal Bank of Scotland cannot simply be the solution to this problem. It is the way they approach the problem with a system proven by time. The HSBC and the Royal Bank of Scotland have several financial planning portfolios in helping the customers reach their goals. The two banks have manifested expertise in providing the most expert advice on planning and investing. They consider it as their responsibility to provide their customer with the best advice available and have to be right and fitting to their customers needs. They exert and commit themselves as they go the extra mile of keeping their customers for a lifetime by answering and addressing quickly their customers growing demands and they have never failed to do so (Newman, 2006). The banks will not wait in vain but makes sure that they get to customers and provides them with a personalized service that cannot be found from other bank institutions creating confidence and trust with the customers. No wonder these two banks were voted top United Kingdom banks (Duttweiler, 2009). The assessment of the policy utilized by these two banks operates as a measure that monitors whether a prescribed risk guideline has been complied with and then makes a report accordingly (Crouhy, 2006). The design of the policy has been able to achieve the appropriate strategy, though require the framework and the funding capacity be adequately met by the funding institution. The design as a result, gives the customer the assurance and the security as they are given the key role and part in developing the system. The United Banking system has also been extensively analysed in this dissertation. Risks such as the financial and operational risks has been analysed by relating them to the strategies being employed by each bank, thus, an empirical method has been applied by exploring details about each bank. Various important factors about a banking institutions risk management system have been looked into as well. Looking into the advantages of a well-organized risk management banking system will help minimize damages brought by liquidity risks. A well-managed and well carried management plan will save the bank from recovering from years, after suffering from significant financial risks. Chapter 6 Conclusions and Recommendations 6.1 Conclusions While the data analysed show similarities in the way the two banks manage liquidity risks HSBC has prudently managed the risks better as compared to RBS. The profits before tax for the two banks indicate that RBS made losses for the last two years while HSBC has maintained profitability despite recession. Fair amount of loans have been advanced that may not pose great risk to both banks, the loan to asset rate is low for both banks and this reduces unnecessary exposure to bad debts. The ratios indicate the banks have maintained adequate capital bases that can with stand systemic risks. HSBC has managed to maintain low operating margins leveraging on technology to deliver products thus avoiding high staff expenses, on the other hand RSB government ownership reduces the risk exposure and thus the bank has been able to obtain loans from the bank after the recent recession, the operating margins are negative for the last two years indicating the bank has not been able to achieve optimal operations. After a sustained increase in the operating profits of RBS before the recession profits declined from 9807 million pounds in 2007 to losses of 2595 million pounds, this emanated from the exposure of the bank to mortgage related risks therefore to ensure the bank is protected from the risk the bank should carry out evaluation on the ability of the customers to meet the monthly mortgage requirements. The effectiveness of the risks management policies of the banks under study has been evaluated, to be able to have a wider view about risk management bank mortgage and subsequent reaction to recession has been analysed. When the risk management policies that each of the banks under consideration is evaluated, HSBC possess the most formidable liquidity risk management policy implementation well articulated in the banks reaction to the recession. The study established that the liquidity risk management plays an important role in monitoring the flow of assets into the banks system. Banks are required to have standard set of policy to affect its benefits. However, without a reliable system from which the organization management plan is created, it is easy to say that such a management plan will not be effective. It will produce no progress at all and could costly on the part of those who implement these management strategies. Since the two banks have applied similar systems; HSBC is the bank that shows the most impressive and effective strategy/ approach against liquidity risk. They always make sure to protect not only their money also they make sure that they protect the welfare of their customers. The dissertation focus on the UK banking system was ideal as the perfect niche where to study liquidity risk because the banks have a wide access to almost all parts of the world and. The banks are universal and possess that impressive banking track record. HSBC and the Royal Banks of Scotland are equally as competent and committed to a strong liquidity risk management (Casu Molyneux, 2001). However, this study was limited to the top two banks it is recommended that in order to understand liquidity risk a study should be conducted not only on those two banks but also on those ranked at the bottom. This way it is possible to understand the liquidity risk in the banking industry and serve as a basis of reference by other researchers or particular areas of concern that may be a source of risk for banks. It should also be necessary that a case study be conducted on a particular scenario focusing only on one risk management area so as to have a clearer view. The banking system is explained along with some points on how important it is to build a strong impression with international institutions by securing a reliable system within the bank by good risk management policies that serve as its foundation. A discussion on the importance of liquidity risk management policy has been explored using policies as the guidelines and indicators that help determine the confidence level in each banking system. If weak policy system is in place, it gives doubt as to the effectiveness of the risk management approach. Royal Bank of England has been analysed and the responsibility it has on the control of rates. The bank has been used as the point of reference since it has flexibility in decision making as well as its crucial to the good functioning or detriment of the whole banking institution in United Kingdom. The HSBC and the Royal Bank of Scotland has impressive financial planning portfolios that are geared towards helping the customers reach their goals. They make it their utmost responsibility to provide their customer with the best options that are available and have committed to meet the customers need. The two banks provide the most expert advice on planning and investing. An analysis of HSBC system shows that they have managed risks well, including risks that have placed other banks in receivership. The Royal Bank of Scotland equally possesses reliable strategy where all the decisions regarding risks have to be decided after careful analysis and Proper management of credit and market risks is essential in eliminating financial risks. The study established that these two risks occur when an improper assessment is made. The commitment of the management of an organization is an important element needed to help reduce the risk on possibility of a bank to collapse. It is a guiding force that a responsible banking institution must adhere to, so as to avoid the consequences of financial failure because of mismanagement. Proper risk management could be a simple way of solving liquidity risk problem which management believe is difficult to tackle. In order to protect their earnings the banks have to institute proper risk management policies as it is not always predictable where risks will emerge. The two banks under study have implemented some of the most desired risk management policies. Many banks were severely affected by the recession but HSBC and RBS still returned maximum profits despite the operating environment existing in 2010 the financial year under review. Customers are concerned with the risk management practises of their banks this is because it also determines the availability of credit and all necessary bank products that they need. 6.2 Recommendations The banks need to ensure that the risk exposure on their portfolios is minimized or eliminated completely. While the recession risks were inevitable the need to anticipate liquidity risks are imperative. HSBC had gone through a crisis however the management had foresight and planned well for the recession on the other hand RBS had to rely on government bail out to minimize the risks the mortgage portfolio had. The need to pursue vigorous risk management policies is important than before, while management decisions influence the direction of the banks, careful planning and consulting is essential. A deep analysis of the causes of the losses registered in the last two years would be a good starting point to be able to collect the mistakes. Management will be valuable in this, the ability of the management to run smoothly the banks and predict future risk will determine the bank that emerges from recession stronger. From the data analyzed while turnover for the banks increased the operating profits were affected by the recession. Like HSBC did RBS need to leverage on technology to reduce operating losses. 6.2.1 Recommendations on Managing liquidity through Organizational structure and Governance It is imperative that the two banks define the liquidity risks exhaustively this will ensure that the risks the banks are exposed to are identified and placed in respective risk category, then the risks are communicated to the respective groups to that they can identify, understand and evaluate liquidity risks that the banks face including new lines of business, products, acquisitions, alliances or any initiative that the banks intend to participate. A clear understanding of the various risks is essential particularly distinguishing Market liquidity and funding liquidity risks. R