Harshad Mehta Scam

Harshad Mehta scam: Harshad Mehta  was an Indian stockbroker and is alleged to have engineered the rise in the BSE stock exchange in the year 1992. Exploiting several loopholes in the banking system, Harshad and his associates siphoned off funds from inter-bank transactions and bought shares heavily at a premium across many segments, triggering a rise in the Sensex. When the scheme was exposed, the banks started demanding the money back, causing the collapse. He was later charged with 72 criminal offenses and more than 600 civil action suits were filed against him.He died in 2002 with many litigations still pending against him. 3. 1 Ready Forward Deal (RF): †¢ The crucial mechanism through which the scam was effected was the Ready Forward deal. †¢ The Ready Forward Deal (RF) is in essence a secured short term (typically 15 day) loan from one bank to another bank. The lending is done against Government Securities exactly the way a pawnbroker lends against jewelry. †¢ In fact one can say that the borrowing bank actually sells the securities to the lending bank and buys them back at the end of the period of the loan at (typically) a slightly higher price. It was this RF deal that Harshad Mehta and his associates used with great success to channel money from banking system. 3. 2 The Mechanics of the Scam: As explained above, a ready forward deal is, in substance, a secured loan from one bank to another.To make the scam possible , the RF had to undergo a complete change. In other words it practically had to become an unsecured loan to broker. This was wonderfully engineered by the brokers. To give a better understanding of the mechanism, the whole process has been segregated into 3 different parts. . The settlement process 2. Payment cheques 3. Dispensing the security 1. The settlement Process: ? The normal settlement process in government securities is that the transacting banks make payments and deliver the securities directly to each other. ? Dur ing the scam, however, the banks or at least some banks adopted an alternative settlement process which was similar to the process used for settling transactions in the stock market. ? In this settlement process, deliveries of securities and payments are made through the broker.That is, the seller hands over the securities to the broker who passes them on to the buyer, while the buyer gives the cheque to the broker who then makes the payment to the seller. ? In this settlement process, the buyer and the seller may not even know whom they have traded with, both being known only to the broker. ? There were two important reasons why the broker intermediated settlement began to be used in the government securities markets. ? The brokers instead of merely bringing buyers and sellers together started taking positions in the market.In other words, they started trading on their own account, and in a sense became market makers in some securities thereby imparting greater liquidity to the mar kets. ? When a bank wanted to conceal the fact that it was doing an RF deal, the broker came in handy. The broker provided contract notes for this purpose with fictitious counter parties, but arranged for the actual settlement to take place with the correct counter party. 2. Payment Cheques: ? A broker intermediated settlement allowed the broker to lay his hands on the cheque as it went from one bank to another through him.The hurdle now was to find a way of crediting the cheque to his account though it was drawn in favor of a bank and was crossed account payee. ? As it happens, it is purely a matter of banking custom that an account payee cheque is paid only to the payee mentioned on the cheque. In fact, exceptions were being made to this norm, well before the scam came to light. ? Privileged (corporate) customers were routinely allowed to credit account payee cheques in favour of a bank into their own accounts to avoid clearing delays, thereby reducing the interest lost on the amo unt. Normally, if a customer obtains a cheque in his own favour and deposits it into his own account, it may take a day or two for the cheque to be cleared and for the funds to become available to the customer. At 15% interest, the interest loss on a clearing delay of two days for a Rs. 100 crores cheque is about Rs. 8 lakhs. ? On the other hand, when banks make payments to each other by writing cheques on their account with the RBI, these cheques are cleared on the same day. ? The practice which thus emerged was that a customer would obtain a cheque drawn on the RBI favoring not himself but his bank.The bank would get the money and credit his account the same day. ? This was the practice which the brokers in the money market exploited to their benefit. 3. Dispensing the security: ? The brokers thus found a way of getting hold of the cheques as they went from one bank to another and crediting the amounts to their accounts. This effectively transformed an RF into a loan to a broker r ather than to a bank. ? But this, by itself, would not have led to the scam because the RF after all is a secured loan, and a secured loan to a broker is still secured. What was necessary now was to find a way of eliminating the security itself! There are three routes adopted for this purpose: 1. Some banks (or rather their officials) were persuaded to part with cheques without actually receiving securities in return. A simple explanation of this is that the officials concerned were bribed and/or negligent. A more intriguing possibility is that the banks' senior/top management were aware of this and turned a Nelson's eye to it to benefit from higher returns the brokers could offer by diverting the funds to the stock market. One must recognize that as long as the scam lasted, the banks benefited from such an arrangement.The management of banks might have been sorely tempted to adopt this route to higher profitability. 2. The second route was to replace the actual securities by a wort hless piece of paper – a fake Bank Receipt (BR). This is discussed in greater detail in the next section. 3. The third method was simply to forge the securities themselves. In many cases, PSU bonds were represented only by allotment letters rather than certificates on security paper. And it is easier to forge an allotment letter for Rs. 100 crores worth of securities than it is to forge a 100 rupee note!Outright forgery of this kind however accounted for only a very small part of the total funds misappropriated 3. Bank Receipt: ? In an RF deal, as we have discussed it so far, the borrowing bank delivers the actual securities to the lender and takes them back on repayment of the loan. In practice, however, this is not usually done. Instead, the borrower gives a Bank Receipt (BR) which serves three functions: ? The BR confirms the sale of securities. ? It acts as a receipt for the money received by the selling bank. Hence the name – bank receipt. ? It promises to deliver the securities to the buyer.It also states that in the meantime the seller holds the securities in trust for the buyer. ? In short, a BR is something like an IOU (I owe you securities! ), and the use of the BR de facto converts an RF deal into an unsecured loan. The lending bank no longer has the securities; it has only the borrower's assurance that the borrower has the securities which can/will be delivered if/when the need arises. BRs issued without Backing of Securities: ? As stated earlier, a BR is supposed to imply that the issuer actually has the securities and holds them in trust for the buyer.But in reality the issuer may not have the securities at all. ? There are two reasons why a bank may issue a BR, which is not backed by actual securities: 1. A bank may short sell securities, that is, it sells securities it does not have. This would be done if the bank thinks that the prices of these securities would decrease. Since this would be an outright sale (not an RF! ), the ban k issues a BR. When the securities do fall in value, the bank buys them at lower prices and discharges the BR by delivering the securities sold. Short selling in some form is an integral part of most bond markets in the world.It can be argued that some amount of shortselling subject to some degree of regulation is a desirable feature of a bond market. In our opinion, an outright sale using a BR, which is not backed by securities, is not harmful per se though it violates the RBI guidelines. 2. The second reason is that the bank may simply want an unsecured loan. It may then do an RF deal issuing a â€Å"fake† BR which is a BR without any securities to back them. The lending bank would be under a mistaken impression that it is making a secured loan when it is actually advancing an unsecured loan.Obviously, lenders should have taken measures to protect themselves from such a possibility During the scam, the brokers perfected the art of using fake BRs to obtain unsecured loans fr om the banking system. They persuaded some small and little known banks – the Bank of Karad (BOK) and the Metropolitan Cooperative Bank (MCB) – to issue BRs as and when required. These BRs could then be used to do RF deals with other banks. The cheques in favour of BOK were, of course, credited into the brokers' accounts. In effect, several arge banks made huge unsecured loans to the BOK/MCB which in turn made the money available to the brokers. 4. Breakdown of the Control system in scam: ? The scam was made possible by a complete breakdown of the control system both within the commercial banks as well as the control system of the RBI itself. ? We shall examine these control systems to understand how these failed to function effectively and what lessons can be learnt to prevent failure of control systems in the future. ? The internal control system of the commercial banks involves the following features: 1. Separation of Functions:The different aspects of securities tr ansactions of a bank, namely dealing, custody and accounting are carried out by different persons. 2. Counterparty Limits: The moment an RF deal is done on the basis of a BR rather than actual securities, the lending bank has to contend with the possibility that the BR received may not be backed by any/adequate securities. In effect, therefore, it may be making an unsecured loan, and it must do the RF only if it is prepared to make an unsecured loan. This requires assessing the creditworthiness of the borrower and assigning him a â€Å"credit limit† up to which the bank is prepared to lend.Technically, this is known as a counterparty limit. 5. Other Aspects of the scam: ? There are several aspects of the scam which are closely related to the securities markets, but which are different from the operational aspect of the markets. ? These pertain to information that can cause significant changes in the prices of securities as well as the information supplied by the commercial ba nks on their financial performance. ? On each occasion the coupon rate was increased by 1/2%, thereby raising the coupon rate from 11. 5% to 13% during this ten month period.The major implication of raising interest rate on new borrowings is that it would trigger a fall in the market prices of the old loans which are pegged at the old (lower) interest rates. The price of the 11. 5% Government Loan 2010 dropped by 3% to 5% with each coupon rate hike. If anyone has advance information about these changes in the coupon rates, he could make enormous amounts of riskless profit by short selling the old securities just before the announcement of rate hike and buying back (covering his position) after the prices have fallen. ? Somebody who took a short position of Rs. 00 crores before the coupon hike of September 1991 could have made a profit of Rs. 15 crores, practically overnight! Since several persons in the Finance Ministry and the RBI are likely to be aware of the impending hike in the coupon rate, the chance of leakage of this all important information is always there. ? There have been several allegations in this regard. However, it will probably be very difficult to prove with any degree of certainty that there was insider trading based on information about coupon rate changes, because of the size of the market. With a daily trading volume of Rs. 3000 – 4000 crores, it would have been very easy for anyone to take a position (based on inside information) of Rs. 500 or even Rs. 1000 crores without anyone suspecting anything untoward. 6. Impact of the scam: ? The immediate impact of the scam was a sharp fall in the share prices. The index fell from 4500 to 2500 representing a loss of Rs. 100,000 crores in market capitalization. [pic] ? Since the accused were active brokers in the stock markets, the number of shares which had passed through their hands in the last one year was colossal.All these shares became â€Å"tainted† shares, and overnight they became worthless pieces of paper as they could not be delivered in the market. Genuine investors who had bought these shares well before the scam came to light and even got them registered in their names found themselves being robbed by the government. This resulted in a chaotic situation in the market since no one was certain as to which shares were tainted and which were not. ? The government's liberalization policies came under severe criticism after the scam, with Harshad Mehta and others being described as the products of these policies. Bowing to the political pressures and the bad press it received during the scam, the liberalization policies were put on hold for a while by the government. The Securities Exchange Board of India (SEBI) postponed sanctioning of private sector mutual funds. ? The much talked about entry of foreign pension funds and mutual funds became more remote than ever. The Euro-issues planned by several Indian companies were delayed since the ability of In dian companies to raise equity capital in world markets was severely compromised. Harshad Mehta Scam Harshad Mehta scam: Harshad Mehta  was an Indian stockbroker and is alleged to have engineered the rise in the BSE stock exchange in the year 1992. Exploiting several loopholes in the banking system, Harshad and his associates siphoned off funds from inter-bank transactions and bought shares heavily at a premium across many segments, triggering a rise in the Sensex. When the scheme was exposed, the banks started demanding the money back, causing the collapse. He was later charged with 72 criminal offenses and more than 600 civil action suits were filed against him.He died in 2002 with many litigations still pending against him. 3. 1 Ready Forward Deal (RF): †¢ The crucial mechanism through which the scam was effected was the Ready Forward deal. †¢ The Ready Forward Deal (RF) is in essence a secured short term (typically 15 day) loan from one bank to another bank. The lending is done against Government Securities exactly the way a pawnbroker lends against jewelry. †¢ In fact one can say that the borrowing bank actually sells the securities to the lending bank and buys them back at the end of the period of the loan at (typically) a slightly higher price. It was this RF deal that Harshad Mehta and his associates used with great success to channel money from banking system. 3. 2 The Mechanics of the Scam: As explained above, a ready forward deal is, in substance, a secured loan from one bank to another.To make the scam possible , the RF had to undergo a complete change. In other words it practically had to become an unsecured loan to broker. This was wonderfully engineered by the brokers. To give a better understanding of the mechanism, the whole process has been segregated into 3 different parts. . The settlement process 2. Payment cheques 3. Dispensing the security 1. The settlement Process: ? The normal settlement process in government securities is that the transacting banks make payments and deliver the securities directly to each other. ? Dur ing the scam, however, the banks or at least some banks adopted an alternative settlement process which was similar to the process used for settling transactions in the stock market. ? In this settlement process, deliveries of securities and payments are made through the broker.That is, the seller hands over the securities to the broker who passes them on to the buyer, while the buyer gives the cheque to the broker who then makes the payment to the seller. ? In this settlement process, the buyer and the seller may not even know whom they have traded with, both being known only to the broker. ? There were two important reasons why the broker intermediated settlement began to be used in the government securities markets. ? The brokers instead of merely bringing buyers and sellers together started taking positions in the market.In other words, they started trading on their own account, and in a sense became market makers in some securities thereby imparting greater liquidity to the mar kets. ? When a bank wanted to conceal the fact that it was doing an RF deal, the broker came in handy. The broker provided contract notes for this purpose with fictitious counter parties, but arranged for the actual settlement to take place with the correct counter party. 2. Payment Cheques: ? A broker intermediated settlement allowed the broker to lay his hands on the cheque as it went from one bank to another through him.The hurdle now was to find a way of crediting the cheque to his account though it was drawn in favor of a bank and was crossed account payee. ? As it happens, it is purely a matter of banking custom that an account payee cheque is paid only to the payee mentioned on the cheque. In fact, exceptions were being made to this norm, well before the scam came to light. ? Privileged (corporate) customers were routinely allowed to credit account payee cheques in favour of a bank into their own accounts to avoid clearing delays, thereby reducing the interest lost on the amo unt. Normally, if a customer obtains a cheque in his own favour and deposits it into his own account, it may take a day or two for the cheque to be cleared and for the funds to become available to the customer. At 15% interest, the interest loss on a clearing delay of two days for a Rs. 100 crores cheque is about Rs. 8 lakhs. ? On the other hand, when banks make payments to each other by writing cheques on their account with the RBI, these cheques are cleared on the same day. ? The practice which thus emerged was that a customer would obtain a cheque drawn on the RBI favoring not himself but his bank.The bank would get the money and credit his account the same day. ? This was the practice which the brokers in the money market exploited to their benefit. 3. Dispensing the security: ? The brokers thus found a way of getting hold of the cheques as they went from one bank to another and crediting the amounts to their accounts. This effectively transformed an RF into a loan to a broker r ather than to a bank. ? But this, by itself, would not have led to the scam because the RF after all is a secured loan, and a secured loan to a broker is still secured. What was necessary now was to find a way of eliminating the security itself! There are three routes adopted for this purpose: 1. Some banks (or rather their officials) were persuaded to part with cheques without actually receiving securities in return. A simple explanation of this is that the officials concerned were bribed and/or negligent. A more intriguing possibility is that the banks' senior/top management were aware of this and turned a Nelson's eye to it to benefit from higher returns the brokers could offer by diverting the funds to the stock market. One must recognize that as long as the scam lasted, the banks benefited from such an arrangement.The management of banks might have been sorely tempted to adopt this route to higher profitability. 2. The second route was to replace the actual securities by a wort hless piece of paper – a fake Bank Receipt (BR). This is discussed in greater detail in the next section. 3. The third method was simply to forge the securities themselves. In many cases, PSU bonds were represented only by allotment letters rather than certificates on security paper. And it is easier to forge an allotment letter for Rs. 100 crores worth of securities than it is to forge a 100 rupee note!Outright forgery of this kind however accounted for only a very small part of the total funds misappropriated 3. Bank Receipt: ? In an RF deal, as we have discussed it so far, the borrowing bank delivers the actual securities to the lender and takes them back on repayment of the loan. In practice, however, this is not usually done. Instead, the borrower gives a Bank Receipt (BR) which serves three functions: ? The BR confirms the sale of securities. ? It acts as a receipt for the money received by the selling bank. Hence the name – bank receipt. ? It promises to deliver the securities to the buyer.It also states that in the meantime the seller holds the securities in trust for the buyer. ? In short, a BR is something like an IOU (I owe you securities! ), and the use of the BR de facto converts an RF deal into an unsecured loan. The lending bank no longer has the securities; it has only the borrower's assurance that the borrower has the securities which can/will be delivered if/when the need arises. BRs issued without Backing of Securities: ? As stated earlier, a BR is supposed to imply that the issuer actually has the securities and holds them in trust for the buyer.But in reality the issuer may not have the securities at all. ? There are two reasons why a bank may issue a BR, which is not backed by actual securities: 1. A bank may short sell securities, that is, it sells securities it does not have. This would be done if the bank thinks that the prices of these securities would decrease. Since this would be an outright sale (not an RF! ), the ban k issues a BR. When the securities do fall in value, the bank buys them at lower prices and discharges the BR by delivering the securities sold. Short selling in some form is an integral part of most bond markets in the world.It can be argued that some amount of shortselling subject to some degree of regulation is a desirable feature of a bond market. In our opinion, an outright sale using a BR, which is not backed by securities, is not harmful per se though it violates the RBI guidelines. 2. The second reason is that the bank may simply want an unsecured loan. It may then do an RF deal issuing a â€Å"fake† BR which is a BR without any securities to back them. The lending bank would be under a mistaken impression that it is making a secured loan when it is actually advancing an unsecured loan.Obviously, lenders should have taken measures to protect themselves from such a possibility During the scam, the brokers perfected the art of using fake BRs to obtain unsecured loans fr om the banking system. They persuaded some small and little known banks – the Bank of Karad (BOK) and the Metropolitan Cooperative Bank (MCB) – to issue BRs as and when required. These BRs could then be used to do RF deals with other banks. The cheques in favour of BOK were, of course, credited into the brokers' accounts. In effect, several arge banks made huge unsecured loans to the BOK/MCB which in turn made the money available to the brokers. 4. Breakdown of the Control system in scam: ? The scam was made possible by a complete breakdown of the control system both within the commercial banks as well as the control system of the RBI itself. ? We shall examine these control systems to understand how these failed to function effectively and what lessons can be learnt to prevent failure of control systems in the future. ? The internal control system of the commercial banks involves the following features: 1. Separation of Functions:The different aspects of securities tr ansactions of a bank, namely dealing, custody and accounting are carried out by different persons. 2. Counterparty Limits: The moment an RF deal is done on the basis of a BR rather than actual securities, the lending bank has to contend with the possibility that the BR received may not be backed by any/adequate securities. In effect, therefore, it may be making an unsecured loan, and it must do the RF only if it is prepared to make an unsecured loan. This requires assessing the creditworthiness of the borrower and assigning him a â€Å"credit limit† up to which the bank is prepared to lend.Technically, this is known as a counterparty limit. 5. Other Aspects of the scam: ? There are several aspects of the scam which are closely related to the securities markets, but which are different from the operational aspect of the markets. ? These pertain to information that can cause significant changes in the prices of securities as well as the information supplied by the commercial ba nks on their financial performance. ? On each occasion the coupon rate was increased by 1/2%, thereby raising the coupon rate from 11. 5% to 13% during this ten month period.The major implication of raising interest rate on new borrowings is that it would trigger a fall in the market prices of the old loans which are pegged at the old (lower) interest rates. The price of the 11. 5% Government Loan 2010 dropped by 3% to 5% with each coupon rate hike. If anyone has advance information about these changes in the coupon rates, he could make enormous amounts of riskless profit by short selling the old securities just before the announcement of rate hike and buying back (covering his position) after the prices have fallen. ? Somebody who took a short position of Rs. 00 crores before the coupon hike of September 1991 could have made a profit of Rs. 15 crores, practically overnight! Since several persons in the Finance Ministry and the RBI are likely to be aware of the impending hike in the coupon rate, the chance of leakage of this all important information is always there. ? There have been several allegations in this regard. However, it will probably be very difficult to prove with any degree of certainty that there was insider trading based on information about coupon rate changes, because of the size of the market. With a daily trading volume of Rs. 3000 – 4000 crores, it would have been very easy for anyone to take a position (based on inside information) of Rs. 500 or even Rs. 1000 crores without anyone suspecting anything untoward. 6. Impact of the scam: ? The immediate impact of the scam was a sharp fall in the share prices. The index fell from 4500 to 2500 representing a loss of Rs. 100,000 crores in market capitalization. [pic] ? Since the accused were active brokers in the stock markets, the number of shares which had passed through their hands in the last one year was colossal.All these shares became â€Å"tainted† shares, and overnight they became worthless pieces of paper as they could not be delivered in the market. Genuine investors who had bought these shares well before the scam came to light and even got them registered in their names found themselves being robbed by the government. This resulted in a chaotic situation in the market since no one was certain as to which shares were tainted and which were not. ? The government's liberalization policies came under severe criticism after the scam, with Harshad Mehta and others being described as the products of these policies. Bowing to the political pressures and the bad press it received during the scam, the liberalization policies were put on hold for a while by the government. The Securities Exchange Board of India (SEBI) postponed sanctioning of private sector mutual funds. ? The much talked about entry of foreign pension funds and mutual funds became more remote than ever. The Euro-issues planned by several Indian companies were delayed since the ability of In dian companies to raise equity capital in world markets was severely compromised.

Accidental Buddhist Essay

I’d never heard of this book before I started this class. I’ve always been interested in the nature and customs of different cultures in other countries. That may be one of the reasons why I took this class. I believe another reason is that I had already taken Western Religion and wanted to learn more. This book didn’t really spark my interest at first but after I got to reading it I seemed to keep going back to it and reading more. In the book the author Dinty Moore takes a year and begins to ponder the shift to Buddhism. He does this along with a couple other Americans. Along with some other things that he does he got to a strict Zen Monastery and a loose Theravada Center. Moore also interviews experts and visits a pair of struggling cushion makers. The author gets the extreme honor and pleasure of being able to ask the Dalai Lama a question when he attends a talk at Indiana University. This inspires a little of his own quest for meaning after the God from his childhood left him for the most part but also left a sense of suffering. His travels proved worth while and often modestly told exploration of one mans mid-life quest for something that was spiritually missing. This book moves more towards the less visible and un-promoted side of how Buddhism is starting to filter into today’s American life. For Moore this fits better than the shaved head, mantra chanting, and incense wreathed thought that most Westerners have associated with Dharma. The author looks for something or someway for him to replace what he lacked from his childhood faith. In the book, he seeks guidance towards confronting and being able to answer the big questions that leave us dissatisfied and wanting more information. My favorite parts of this book were Chapters 6 â€Å"Catholic Boy Zen† and 9 â€Å"The Plain-Spoken Theravada. † In Chapter six the author talks to Fr. Robert Jinsen Kennedy who is a Jersey Jesuit that combines Zen and Catholicism. Their intelligent conversation addressed the lack of maturity in ways that Catholicism has been presented to those who came from his generation. There were the last ones to get the pre-Vatican II version of the negative â€Å"thou shalt not† mindset which was combined with a simplified version of God and Jesus that was manufactured for an easy transmission to about a billion followers. Moore acknowledges that his current attraction towards Buddhism may be an overreaction to the Catholicism from his childhood. Even the Dali Lama’s own caution for Westerners not to over romanticize Buddhism as opposed to their â€Å"Judeo-Christian† mentality hits a nerve as the author listens to the Tibetan leader respond in Indiana to his own question. Inside Chapter Nine it reveals a growing comfort with Dharma. Moore takes pains not to glamorize those who adapt to Buddhism. Being well-read in this field his sources remain largely invisible and he aims for an accessible jargon-free presentation that anyone can understand. The author concentrates on overcoming his â€Å"rock† with in, his resistance and his angst, his entrapment in the cycle of suffering, and keeping his anger in. this is similar to many Irish Catholic males of at least a certain age and upbringing. Everything that has happened in his life has compelled him to look for what is missing and wanting to find out more about Buddhism. Moore attempts to get over the thing that permeates our mental habits which he calls the â€Å"if only† postponement of happiness. The author compares this to missing the sights and sounds of a hiking trail because your rushing down it eager to finish. He also compares it to him driving down the interstate thinking of how the vehicles engineering detracts from distractions but it also blurs any sense of the journey’s own beauties and discoveries. One of the things that challenge Mr. Moore to slow down and appreciate wisdom is his fear that forty-five years of work and the worry of twenty years over lost opportunities will zip past him. The author knows full well a few hours of practicing Buddhism over a years’ time won’t bring on dazzling illuminations. However, after he attends a second Zen retreat gets a glimpse of more than he had in the beginning. He tries as a mediator to silence the restless â€Å"monkey man† inside, before calming down: â€Å"Maybe enlightenment is when the monkey just sees the sunset and when the sunset ends that monkey just looks at the stars. Another thing Moore brings up is that â€Å"You can’t slow the brain down with a few brief attempts any more easily than you can stop a speeding freight train with a white picket fence. † To the authors astonishment he adapts well to being able to sit still. Even though there are no dramatic changes in his life he grows calmer, more equitable, and perhaps become a lot happier. Instead of being a self-promoting journey towards insight this book ends up being very quiet. If this book were found at the right time and in the right mood it should be satisfying to a patient and quiet seeker. However, this could be too much for the eager inquirers to handle. Concerning whether God exists or not Moore realizes that he isn’t going to worry to much about it. â€Å"If God does in fact exist, I should live my life according to the principals of kindness, compassion, and awareness. Even if there isn’t a God the same principals apply which is his summation of an intimate Buddhist perspective. † I recently had the opportunity to go and see Dinty Moore speak here at Sinclair. I learned quite a lot about him during his talk starting with that he was born in Erie, Pennsylvania. One of the things that I learned about him is that he sees writing and Buddhism as being connected. While Mr. Moore was on his journey to finding himself he traveled around the country. I learned two aspects of Buddhism are you can’t control outside aspects and you can control the reaction people have. He informed the group that came to see him speak that after writing the book he became a writing teacher. He also let us know that to him Buddhism and other religions have wide similarities.

Parents and their Children’s Educational Attainment

Never before in the United States have parents been so disgruntled about their children†s education. The main reason behind this massive disruption is that public schools are not living up to parent†s standards. Therefore, parents are taking their children†s educations and futures into their own hands, and doing so quite efficiently. Many parents are turning to [â€Å"an alternative†] means of educating known as home schooling. Home schooling is simply [â€Å"education of school- aged children at home rather than at school. ] Parents are choosing home schooling over public because public schools are not meeting their children†s academic, individual, and handicap needs. First, parents are choosing home schooling over public schooling because public schools are not meeting student†s academic needs. [Parents expect their children will learn to read, write, and acquire basic math skills by the time they graduate. ] However, public schools throughout the United States are failing to teach these basic achedemic skills. Recent studies show that [† Of the 2. million who graduate, as many as 25% cannot read or write at the eighth grade level or â€Å"functionally literate,† level, according to some estimates. â€Å"] This is a tragic statistic for a nation claiming to be so developed. There are more opportunities to education in the United States than any other country in the world, yet evidence shows that the United States ranks [† at the bottom of 19 industrial nations in reading, writing, and arithmetic. â€Å"] In addition, students are ranking lower than ever on Academic Achievement Tests (ACT). Children who attend public schools rank in the [† 50th percentile. ] whereas, home schooled children [† typically score at the 65th to 80th percentile†¦. â€Å"] To add to these statistics, [† in December 1989, the education press reported the amazing news that children schooled at home seemed to be five or even ten years ahead of their formally trained peers in their ability to think. â€Å"] These statistics prove that home schooled children are doing better in math, science, reading and writing, compared to children attending public schools. Secondly, parents are choosing home schooling over public schooling because public schools ar e no longer taking student†s individual needs into consideration. Since students are taught lessons based on an academic calendar year, they are expected to be able to complete specific tasks by the end of that year. When students fail to meet these expectations they are required to repeat the same grade the following school year. For example, at the end of a school year if a student is having difficulties reading but doing well in other subjects he or she will be required to repeat the same grade. If students were properly tutored in the areas they are having difficulties in they would not have to repeat the same grades. Unfortunately public schools do not give special tutoring to students like they once did. Teachers in the public school systems are teaching students as though they are on an assembly line. They no longer work [â€Å"one-to-one†¦. â€Å"] with them. Unlike public schooling, home schooling allows parents to teach in a style that best fits their children†s needs. For example if a child is not prepared to move on to a higher level, the parent can continue with similar lessons until the child understands. Also, children are not held back in the same grade if they are lagging behind in particular subjects. Their parents can move them to the next grade and tutor them in the subjects they are having trouble in. Children who are home schooled also get individual attention from their parents. They do not have to worry about waiting for their teacher to find time to help them. In sum, parents are finding that home schooling meets the individual needs of their children better than public schooling. Finally, parents of children with physical and mental disabilities are finding that home schooling meets their children†s handicap needs better than public schooling. A major downfall of public schooling is that handicapped students are graded in the same style as the rest of the students. In public schools, children with handicaps are still expected to complete all of their assignments in the same given time as other students. Teachers are not taking these children†s handicaps into consideration. For example, children with ADD (Attention Deficit Disorder) have trouble staying focused and are easily distracted. As a result of constantly being distracted, they are not able to complete their assignments. This type of grading style has become a great concern for parents of handicapped children. Because of situations like this one, parents are making decisions to teach their handicapped children at home. By teaching their children at home they are in an environment that is equipped to aid in their development. For instance, children with ADD [â€Å"are in an environment where they cannot be influenced by the action of other children†¦. â€Å"] and cannot be easily distracted. In addition, they have special time to complete their assignments. They can also have all of [† their assignments tailored to fit their abilities and needs. â€Å"] By home schooling children with learning disabilities are given equal chances of succeeding in their education which they otherwise would not get in public schooling. Public schools may have been the center for learning years ago. However, today they are not meeting children†s academic, individual, and handicapped needs. As a result, parents are choosing to educate their children through home schooling. Statistics show that home schooled children are ahead of children who attend public schools by a noticable degree. In addition, Handicapped children are having their needs met better at home more so than in public schools. They are being given an equal chance at succeeding in their education that they otherwise would not have when attending public schools. In summary, parents are choosing home schooling because it currently offers the best solution to their problems facing the public school systems.

Renaissance Comparison Essay Example | Topics and Well Written Essays - 250 words

Renaissance Comparison - Essay Example Next to Galatea, hung the Polyphemus, which was very significant as the myth has it that Polyphemus was in love with the nymph Galatea, who did not return his affection. Both painters thus have painted scenes from Classical Literature, and according to E H Gombrich, both painters drew their source from Florentine Angelo Poliziano’s poetryi. Though the Birth of Venus is painted on canvas, â€Å"the figure of Venus appears †¦ almost like a classical statue. The hard modelling of the white shimmering flesh color is reminiscent of marbleii† According to E. H. Gombrich, Raphael had perfected â€Å"the perfect and harmonious composition of freely moving figures†iii According to Koenmanniv, Galatea is painted in the Neoplatonic style, and is â€Å"a secular version of his St. Catherine†. Both painters have different styles. The stance of Venus is not original and draws on the sculpture Venus Pudica, so while Botticelli looked to the past to pull out ideas, Raphael moved away from convention and moved away from the pursuit of Nature, sticking more with the idea of the imagined Beauty in his head. Fra Filippo Lippi was Botticelli’s teacher and in addition to Antonio del Pollaiuolo the painter, and Andrea Del Verrocchio the sculptor, influenced Botticelli. The Humanist Movement influenced Raphael and Galatea represents those

Managing Change Research Proposal Example | Topics and Well Written Essays - 1000 words - 1

Managing Change - Research Proposal Example n being that, with change a company gains new perspectives on its operations, develops new ways of managing itself which are intended to make a positive impact. Several organizations go through various types of changes, either as dictated by their markets or their own growth definitions. Examples of common changes are such as: Changes in a company’s corporate strategies, privatization of a company, merging or internalization and such. In these changes, a company will tend to focus on how it will grow and be able to get high returns in revenue. Other than revenue, focus may be on employee relations, management structuring, and market target and competitively in market space. Fitting into these changes will often be dependent on the reason for making the changes. In situations where companies are forced to make changes, there is usually difficulty in adjusting to their new environment. Difficulties in adjusting may hinder company growth and performance in achieving the goals set. However, a company’s management may actively be involved in the process, making every employee fit in to the changes occurring. The following proposal will cover a case on The Gulf Cooperation Council (GCC). The GCC covered banks in six countries – Qatar, Saudi Arabia, Oman, Kuwait, United Arab Emirates and Bahrain. The reason for choosing the GCC as the case for this assignment is from the recent trends in the organization. In the recent years, banks in in the above named countries have started to change their mode of operation. The change has greatly been influenced by economic forces surrounding this countries. That is, taking an example of a bank in the GCC, the traditional way of operation focused on oil-driven markets and governmental organizations. Telecommunications, tourism and other government based organizations had taken over the markets in the countries mentioned above. Banks would focus on these areas, ignoring other emerging and potential economic areas. In the recent

Discuss the way in which, Montesquieu encourages his readers to Essay

Discuss the way in which, Montesquieu encourages his readers to identify with or distance themselves from the characters in the - Essay Example This literary style and the socio-political content of the novel as told by two foreign figures enabled its readers to identify with the characters at the same time feel separated from their stories and experiences. It also allowed Montesquieu to achieve his objective in writing the novel. Detachment The first prominent variable that affects the way readers perceive and interpret The Persian Letters is its form. As a collection of letters, which contain discourses and essays on diverse issues, it made the novel disconnected to the readers because the emotional involvement is stunted by the interrupted presentation. This is best explained by Theodore Braun who commented that the novel "moves along in an apparently unpredictable manner from letter to letter, from theme to theme, from interior plot to the exterior plot" making the readers fumble particularly in making sense or identifying the coherence of all the parts provided (Runyon 2005, 13). Readers can also feel the detachment whe n Montesquieu used Persian characters in his narrative. Their characterizations were depicted as alien for the original intended reading public. They are Persians and that their way of life and their perspectives on the French lifestyle represent a glaring difference that is easily identified and sympathized with by the readers. Montesquieu, wrote Hulliung (1976), substituted Persian travelers with psyches that are long written full by Eastern culture and that the interaction between the East and the West could lead to the threat on the Eastern language of despotism (117). By transplanting the two Oriental characters in Paris, there was a depiction of a striking polarity in culture and ideas. Say, when Montesquieu portrayed the Persians as exotic, with sufficient allusions to their cultural norms and their harem and so forth, the reader naturally sided with the West and/or the French society and that the two protagonists - including all that they stood for - came to constitute other ness, the unknown and the unidentifiable. There was an imposed detachment that came with the double plot of the novel. At one point, there was the criticism of the Parisian way of life. On the other hand, there was the Oriental storyline (e.g. the disorder in the protagonist's seraglio back home). This approach enabled Montesquieu to highlight his themes more effectively, more specifically the kind of skepticism and relativism that he obviously wanted to express about the important questions that characterized his time. Furthermore, the differences and the detachment that the author encouraged were necessary in order to explain his ideal social theory. This is when Montesquieu was able to successfully reject the European social theory and advocate the actual expression of human nature as the ultimate solution to the issues and problems that confronted his day (Rossides 1998, 72). Connection It is, however, important to underscore that even though The Persian Letters assumed a degree of disconnect from its readers, there are times when its characters - or the themes and issues they discussed and were involved in - came close to the readers’ hearts and own concerns. As a political allegory, the novel explored, examined and commented on themes and issues that are relevant to the times. For example, there is the issue about love, social institutions, gender equality, religion,

Nurse Community Building Research Paper Example | Topics and Well Written Essays - 2000 words

Nurse Community Building - Research Paper Example In this paper, I will describe the following traits of an effective nursing community; cultural awareness, able and noteworthy leadership skills, sense of community, cultural aptitude, partnership and practice integration. In order to develop a successful nursing organization, it is necessary to apply these principles. A great sense of cultural awareness Any organization needs to have a sense of cultural awareness. A nurse needs to demonstrate cultural understanding that aids them to practice better healthcare and develop a stable public health policy. Awareness will help nurses in the community acknowledge that external factors like language barriers and inaccessibility of services and resources will often attract a negative history. By understanding a community’s culture and the barriers to service delivery, public nurses understand how to face these challenges and strive to better their cultural competence with the community (Caroline p 65). Able Leadership Able and notewor thy leadership is a characteristic of a strong nursing community. Able leadership enables nurses take up responsibilities and enables them to guide the community effectively. They are the proponents of health equitability and the social justice in the community. ... This strength ensures that the resources within a community are involved in helping the community strive towards humanizing the eminence of the health care conditions. For this reason, there should be an aspect of community in a nursing organization. Nursing in the community ensures that the community has the capacity to resolve problems, and properly utilizes its resources to enhance proper health management and health safety. Community health actions motivate community members by their actions of self-determination, and their understanding of the local needs and cultural aspects that link individuals with the business community. The nurses, thus, play a crucial role in guaranteeing that communal health is available in individuals in the community and in empowering the community to erect a burly affiliation in the society that will cater for the needs of the health care system. The health nurses primarily improve the health of the families and outfit for the needs of the public by r esponding to outbreaks of illness and the emergence of health risks. Nurses recognize that strong partnerships determine better health and collaboration of both the public and the private sector is important in ensuring that noteworthy healthcare is provided to all. In order to improve these partnerships, the nursing community involves using systematic approaches that strengthen the bond between them and the community (Donna et al p 50). This approach significantly reduces the cost of social and personal health program and strengthens the community. The systematic approaches that the nursing community adapts are: Assessing and monitoring the health care requirement of all members of the community who are likely to benefit from

The Benefits of Using The Robotics System In Industrial Area Research Paper

The Benefits of Using The Robotics System In Industrial Area - Research Paper Example This is because findings have shown that robotics is capable of reducing the cost of production, improve production efficiency, product quality, and reduce accidents and injuries in manufacturing industries. This paper will discuss the benefits of using robotics in the industrial area. The history of robotics dates back to 1954 when George Charles Devol invented the first industrial robot called the Unimate. This was later followed by the formation of the first robot company called the Unimate by Devol, and Joseph F. Engelberger. General Motors is the first automobile company to install the Unimate robot for dying casting, spot welding and handling in 1956. Since then, many manufacturing companies have implemented robots to replace human labour. International Federation of Robotics reveals that many companies today are increasingly adopting robotics in their workforce (42). This has particularly been witnessed in industrial and manufacturing spheres in different countries of the enti re world. However, findings show that only developed countries in the world have embraced the use of robotics to do various tasks in industrial such as machine operations and welding among others. For instance, the European Robotics Technology Platform (EUROP) reported that about 6.5 million robots were already in use, in different companies and institutions all over the world by 2007 (2). The same report also estimated that the number could rise to about 18 million by the year 2011. Japan is currently the leading country in terms of robotic adoption. International Federation of Robotics indicated that more than half of the world’s robots are made and used in Japan (46). However, several other European countries are also increasingly adopting the technology. A study has shown that the technology is increasingly adopted by countries that have an aging population such as Japan and Germany. For instance, a study conducted by Mckinsey in Germany predicted that Germany could face a shortage of about six million skilled laborious in the next seven years (Jeschke, Liu, and Schilberg 85). The same applies to Japan whose population is aging very first, according to Europ (5). However, the common denominator for the adoption of robotics in industries is based on the benefits that the technology offers the industries where they are installed for doing work. As earlier stated, robotics have been found to be beneficial in industries mainly because its installation helps in reducing costs in a company. This is seen from the factor that robots do not require to be paid hourly rates, as is the case with workers (Jeschke, Liu, and Schilberg 86). This implies that the salary that could have otherwise been used to pay workers will be used for other purposes such as maintain ace (International Federation of Robotics 51). It is reported that, apart from the maintenance cost, a robotic manufacturing is only paid for once, which is very cheap compared to having to employee a worker who will be demanding salaries each and every month. Furthermore, unlike workers, robots do not demand salary increments that might increase the manufacturing cost. It is also a matter of fact that the initial cost of installing a robot in an industry may be daunting. However, its return on investment can be realized very fast once it has been implemented. Research indicates that a robot has the capacity to generate a return on investm

News Paper Summary Essay Example | Topics and Well Written Essays - 500 words - 10

News Paper Summary - Essay Example The biggest producers of coffee are focusing on their best customers, a move that is driving up prices. Coffee consumption is rising in Brazil, Colombia and Vietnam, the countries that produce 60% of the worlds beans. Brazil’s consumption of coffee is expected to reach 1.03 million tons this year. Rising incomes have enabled consumers in producing nations to not only consume more coffee, but also demand higher quality. Consumers are also switching from cheaper substitutes such as tea. Brazils coffee production has increased by 61% over the last decade, but its exports have only risen by 34%, with the rest consumed locally. U.S. importers are paying higher prices because they compete with Brazilian buyers. In the ongoing official unraveling of Espà ­rito Santo Saga, multiple threads have led to Eurofin, a small Swiss company. Eurofin Holdings SA was the only auditor of Espà ­rito Santo’s books, which were  discovered to be riddled with irregularities. The firm is also indirectly connected to Banco Espà ­rito Santo through its chief financial officer, Joà £o Moreira Rato. Mr. Ratos partner, Joà £o Poppe, is the nephew of Ricardo Espà ­rito Santo Salgado. Eurofin also helped Banco Espà ­rito in creating debt products that were sold to retail investors recently. Portuguese authorities suspect that the profits were used to finance other troubled Espà ­rito Santo entities. The authorities are seeking to establish Eurofins multifaceted relationship with Espà ­rito Santo. Goldman Sachs Group  is reconsidering its business with hedge funds; it is discarding less-profitable customers and increasing fees on others in an attempt to adapt to new banking rules. The regulations have forced the bank to allocate more capital, reducing profits from its business. The changes highlight the way Wall Street is trying to conform to the changing landscape. The bank also is pulling its cash from its internal hedge fund. Banks

Questionnaire Essay Example | Topics and Well Written Essays - 250 words - 4

Questionnaire - Essay Example 1. Please state your gender Gender --------------------------------------------------------------------------------- 2. Please state the ethnic group you belong to 3. What is your age bracket? Age (Years) 16-24 25-34 35-44 45-54 55+ 4. Please indicate your highest level of education A Primary B Secondary C College D University E Post Graduate 5. How many years have you been teaching pre-school? 6. Does your institution provide napping opportunities for pre-school children? (Tick as appropriate) YES NO 7. How many minutes does your institution provide for napping 8. What is the age limit for children for children to stop napping at your institution 9. Do you believe napping is beneficial to children? (Tick as appropriate) YES NO 10. Are there any noticeable differences between a child who has taken a nap and one who hasn’t? If yes, please state the differences. 11. In your opinion what are the benefits of napping to children? 12. Are there differences in napping and slee p problems for children of different racial backgrounds (Blacks vs whites). (Tick as appropriate) YES NO Please explain a little. 13. What is the interdependence between napping and child’s level of focus and movement rate? 14. Do daytime naps affect night time rest in preschool children? 15. What impact does napping have on school going children

Nazism vs. Fascism Essay Example for Free

Nazism vs. Fascism Essay R.Q.: To what extent were the German and Italian regimes under Hitler and Mussolini Totalitarian? i. Why? With this research I want to discover whether Hitler and Mussolini transformed Germany and Italy, respectively into Totalitarian regimes. In my discretion this played a major role when looking at traditions, respectability of countries and reputations of countries. Such emotions can also trigger wars, as we so in WWII. Initially, I feel that Dictatorships having absolute power over a country can cause many inconveniences for the citizens of it. Hence, I want to understand their motives and ambitions. Also, I figure that this is a very important time period in which milestones and new dimensions have been opened. Thirdly, I decided on this topic because I am a German citizen, who is naturally interested in the background and history of ones father country. ii. What? I am going to use a series of books written in different time periods by different writers from different countries. This shows a certain scope of viewpoints, which makes the answer to this question more objective. I am also going to use the Internet as one research option of my internal assessment. iii. I planned my essay. This can be seen in the appendix, 1) Essay Plan. This plan shows how I am going to attempt to accomplish my Task i. Define Nazism a. Nazism is the body of political and economic doctrines held and put into effect by the National Socialist German Workers Party in the Third Reich including the totalitarian principle of government, state control of all industries, predominance of groups assumed to be racially superior, and supremacy of the Fà ¯Ã‚ ¿Ã‚ ½hrer1. ii. Define Fascism a. Fascism is a political philosophy, movement, or regime (as that of the Fascisti) that exalts nation and often race above the individual and that stands for a centralized autocratic government headed by a dictatorial leader, severe economic and social regimentation, and forcible suppression of opposition2. iii. Define Totalitarian a. Totalitarian is defined as of or relating to centralized control by an autocratic leader or hierarchy. Of or relating to a political regime based on subordination of the individual to the state and strict control of all aspects of the life and productive capacity of the nation especially by coercive measures (as censorship and terrorism)3 iv. All these definitions above are essential in order to understand how totalitarianism is initially linked with Nazism and Fascism. These terms, Nazism Fascism and Totalitarianism have all got the subordination of the individual to the state and the control of mind etc. of the individual in common. The difference between them, however is that Totalitarian is purely a term describing a situation, a current state of something. Nazism and Fascism on the other hand, describe an ideology that developed over centuries and eventually ruled a country. When we are looking at these definitions, we discover, that both ideologies have a feature of totalitarianism innate. Therefore, initially we would say that they the states, Germany and Italy, both are totalitarian because the autocracy by which they are ruled is totalitarian. This must mean that the people believe in it because they elected this system of government, and hence the system must be totalitarian. This, however, is debatable. In the ongoing lines I will question the above statement by looking closer at the two ideologies and how they became elected. i. Discrimination of Minorities a. Germany i. Minorities, such as Jews, Blacks, Gypsies and women were discriminated widely. Anything not of Aryan derivation, was inferior. Women, for example, were expected to behave just like K,K,K-meaning Kinder, Kirche, Kà ¯Ã‚ ¿Ã‚ ½che. Translated, Children, Church, Kitchen. In other words, they were expected to have as many children as possible to expand the Aryan race, support the religion and cook well. Jews, of course, were treated the worst, i.e.: concentration camps. b. Italy i. Fascist Policy towards women was condescending. Women were not put equal to men. It was also anti-urban and anti-consumerist. There was birth control and additional taxes on unmarried. This, in a way, was similar to Nazi Germany, where there were incentives to bear as many children as possible. It aimed to promote the superior race. Fascist policy was at the beginning not racially concerned. However, when relations with Germany improved, Mussolini adopted some anti-foreign steps. This aimed to give the people a feeling of superiority over other nations and should promote the will to fight for the cause of the nation. Employment conditions for female workers were restricted. They were excluded from several workplaces. ii. Church a. Germany i. Germany was almost entirely a Christian country. Hitler realised this and did not underestimate the power the church, as a single institution, could have on the peoples minds. Therefore, he knew it would not be wise to attack the church during his campaigns. Hence, he made an agreement with the church, the Concordat, which granted the church religious freedom. This, however was only superficially. In reality, any member of the church speaking bad about Hitler or his party, NSDAP, was prosecuted or sent to a concentration camp. Even Church schools were influenced by Hitler; the bible was replaced by Mein Kampf and the cross by the swastika. b. Italy i. In Italy the church played a more important role than in Germany because of the Pope and the Vatican being situated in Italy. Hence, Mussolini tried, after 1922 when coming to power, to include the church as much as possible in the fascist state in order to stabilise and ensure power for his party, PNF. Catholicism was also seen as a possible threat to the emerging fascist state. Hence, a concordat was attempted to improve church-state relations. Catholicism was considered the religion of most Italians, which was so deeply rooted in Italian life that could directly endanger the position of the fascist might. iii. Education a. Germany i. Education in Germany was largely controlled by the Nazis. The main subjects were history, biology and physical education. All of course indoctrinated and altered to shine a good light on the Nazi party and its style of rule. Special schools were build for the most talented. This meant that from a very young age onwards, children in Germany were focused on the Nazi ideology, similar to the Youths, which I will talk about in the next paragraph. b. Italy i. Education was focused on Fascist ideas and ideology. Children were educated in physical education and military training. These are just examples to illustrate what Mussolini wanted to achieve. iv. Youths a. Germany i. Various youths existed in Nazi Germany, all aiming to control the mind of German children. Hitler once described his views concerning the purpose of youths: When an opponent declares, I will not come your side, I calmly say: Your child belongs to us alreadyIn a short time, they will know nothing else but this community. These programs existed for boys and girls. Boys camps were more physical, preparing for war. Girls camps were aiming to make them strong to bear many healthy children. b. Italy i. From 1929 onwards, Mussolini focused more intensely on the control of children in his regime. He wanted to control them by education, which he stated as a right of the leading body in a totalitarian state. The Ministry of Public Instructions was changed to the Ministry of National education (ONB) in 1929. This new organisation provided pre-military training, drill and gym. All measures to convey a more aggressive and disciplined way of live. This program was even integrated into the school curriculum. Recruitment was thus made very easy and numerous. The Fascists wanted to create an Italy were there were young courageous men willing to fight for the cause of the nation. Their motto was: Believe, Obey, Fight. This displays exactly what Mussolini was after. Especially during the great depression, Mussolini tried to give his people a cause to believe in. He created groups or fixed mass meeting so that the people would experience a way of unity. v. Propaganda a. Germany i. Minister of Propaganda in Nazi Germany was Goebbels. He was an able man, with enormous aims. Not only wanted he the people to accept the regime. He wanted them to capitulate to them, grasping the ideology. He, for the first time in history, effectively made use of the radio and press. He seized control over both. By 1932 less then 25% of the population owned a radio. Hence, he made provisions for producing cheap sets of wireless radios. He called it the Volksempfà ¯Ã‚ ¿Ã‚ ½nger, translated, nation-receptionist. The press seemed harder to control. The Nazi publisher-Eher Verlag-bought many of the 4,700 existing newspapers. Goebbels held a daily press conference and eventually, the Editors Law, made the seizure of the press complete. Via the radio, the Aryan race was emphasized. Jewish music was not played. People were constantly bombed with Nazi propaganda, their ideology. b. Italy i. Mussolini wanted to create an image of the new Italian. This image should be aggressive and patriotic. He also used heroic figurers from the wars to illustrate the alleged superiority of the Italian nation. vi. Police State a. Germany i. The party seemed to be well organized and structured. Hitler himself, however, rejected any document work. Now the question appears, how it was so sufficient? The answer is that a powerful force was acting behind the scenes. This force was the army. It consisted of the SS, short for Schutz-Staffel, the SA, short for Sturm-Abteilung, the Gestapo, known for its brutality and later the SD, Sicherheitsdienst, the party internal police force. All these acted in order to maintain or restore order. The SS was once created to be Hitlers personal bodyguard. It evolved to be a unit with incredible power over, economic, political and social matters. It turned out to be an extremely useful tool for Hitler. b. Italy i. The military was also guaranteed a supreme status in Italy. However, the German army had become a political power whereas the Italian had not. After the death of Hindenburg, Hitler was able to benefit from an exclusive oath. Mussolini never had such an opportunity under the still existing Monarchy. The Italian Military acted with divided loyalties. The Italian army did not face any threats form party-army-type organizations, as opposed to the German SS and SA. vii. Power of the Leader a. Germany/Italy i. Both, der Fà ¯Ã‚ ¿Ã‚ ½hrer and il duce, were charismatic and ambitious men. They had a set aim which they wanted to achieve no matter what the cost was. They managed to elate masses so that they would virtually believe anything they said. These are, among others, characteristics a strong Leader must have in order to be successful. Hitler was not only appointed chancellor but became President after Hindenburgs death. He also appointed himself Chief-Commander of all armed forces. This gave him the mere control over many bodies. i. Weigh factors against each other a. Germany vs. Italy ii. Conclusion a. When looking back at my research and all the information I collected during it, I think it is fair to say that both ideologies and those implementing it, transformed the respective countries to a large extent into totalitarian regimes. Although, I would say that this phenomena did not occur in the conventional way. By definition, a totalitarian regime controls every aspect of life. When looking at the moment they came to power and the day they left, a great difference in many senses can be seen. Especially, when looking at how they controlled the peoples minds. Propaganda, Force, Speeches, youths and discrimination are all factors, which increased their influence. This integrated so quickly into the respective countries roots, so that it was inevitable that people would eventually believe what they heard. They would also obey by it because they the how brutal their measures could be. Power conveyed and achieved by force was one feature in these regimes. The other means was propaganda. New technology, new innovations enabled them to convey their messages and slogans whenever they wanted. They could also reach every member of their community. They not only controlled adults. One of their ideas was to transform the young so that their ideology would be carried further with the next generation. 1 http://www.m-w.com/cgi-bin/dictionary?book=Dictionaryva=Nazism 2 http://www.m-w.com/cgi-bin/dictionary?book=Dictionaryva=fascism 3 http://www.m-w.com/cgi-bin/dictionary?book=Dictionaryva=totalitarian

Pure Cultures Lab Essay Example for Free

Pure Cultures Lab Essay Introduction : Pure cultures are made of only one type of organisms and can be used to study their properties. A method used to isolate pure cultures is making a steak-plate, which is a dilution process in which culture is spread over an agar plate in a certain manner. Using a loop rod, culture was taken from the tube and dragged across area 1 several time,of the agar. The agar was then turned 90Â º, and the loop was flamed and cooled. Taking some culture from area 1, it was dragged over area two,and the same steps were done for areas 3 and 4. Another technique used was spread-plate, where the same culture is spread over the agar plate using a sterile L-shaped bent glass rod. The rod was dipped in 95% ethyl alcohol and flamed to sterlize. The nutrient agar was then placed on the plate, and spread with rod. An environmental plate was used to test the cultures of a random object, in our experiment, it was the ocular lens of a microscope. A cotton swab was dipped into sterile water, and a random item of our choice was swabbed. After mixing the swab back in the water, the contaminated water was applied to a spread plate. Results: See attached Discussion: All the plates were successful is isolating the pure cultures except the environmental. The reason for this may have been that there was no bacteria, due to the fact they had been recently cleaned. The slant agars were able to pick up on the bacteria to show the growth. The vial that had bright yellow bacteria growing was M.leuteus, showing the successful isolation and identification. Other vials that had M.Letues and S.marcescenes had a very slight shade of bacteria growth. Questions: 1. No because a when a broth culture is used, it has not been inoculated from a pure culture, the only way would be to use a streaking method or spread plate. A mix culture slant is hard to isolate, because bacteria is clumped together, getting a single colony is difficult. These may cause contamination to the bacteria during the inoculation period. 2. If there was more culture in quadrant 4 than 3, it is due to the loop being dragged back into quadrant 1. The nutrient agar that was in 1 came back to 4, and showed more culture.

E-Commerce Analysis: Online Ticket Purchasing

E-Commerce Analysis: Online Ticket Purchasing CHAPTER ONE: INTRODUCTION 1.1 INTRODUCTION This chapter presents the background of the research study. It starts by providing an overview of Electronic Commerce, customer satisfaction and service quality, followed by an outline of the current situation concerning â€Å"Online Ticket Purchasing† in Kuwait. The problem of the study is then defined, highlighting the research the study seeks to investigate and its significance alongside the research objectives, questions and methodology used to achieve these desired objectives. The research limitations are then explored and the chapter concludes with an outline of the thesis structure. 1.2 OVERVIEW Unprecedented advances in Information Technology in recent decades, alongside evolving business environments have seen the emergence of Electronic Commerce (E-commerce) as a major economic force. With the increasing number of Internet users and rapid development of network technologies, e-commerce is perceived as an essential application of the computer and communication technologies (Manvi and Venkataram, 2005 cited by Zhang and Tang, 2006). As observed by Gunasekaran and Ngai (2005) e-commerce enhances communication channels and provides a virtual interactive environment where the suppliers and customers can exchange information and products. Moreover, it improves the communications between partners along the value chain and offers an integrated business model by which companies can be more responsive and flexible to the changing markets and customers requirements (Zhang and Tang, 2006). E- commerce therefore replaces or enhances the traditional market channels by opening web-based storefronts, which is known as â€Å"business to customer e-commerce†. Firms present their products and services on the web and generate revenue from the sales of those products and services to their customers (Molla and Licker, 2001). According to Khalifa and Liu (2003) there has been considerable growth of internet based services, both from internet businesses and from traditional companies developing online services. The technology of e-commerce identifies what can be offered to customers, but only customers determine which of those technologies will be accepted (Lin, 2003). As Jamal (2004) has argued, in the last forty years the issue of customer satisfaction has been one of the most important theoretical as well as practical issues for most marketers and customer research. Satisfaction is significant in the success or failure of any business depending on the performance of the perceived service, if the perceived performance is less than customer expectation the customer will be dissatisfied; whereas, if the perceived performance exceeds their expectations then customers will be satisfied. Many researchers agree satisfaction is an attitude or evaluation that is formed by the customer comparing their pre-purchase expectations of what they would receive from the product to their subjective perceptions of the performance they actually experience (Oliver, 1980). Numerous studies on service quality and customer satisfaction present service quality and customer satisfaction as conceptually distinct, but closely related constructs. Satisfaction is defined as the degree of discrepancy between customers normative expectations for the service and their perception of the service performance (Parasuraman et al., 1994; Dabholkar, 1996). Different researchers such as Gronroos (1983) and Parasuraman et al. (1985) have tried to identify features of service more related to quality assessments. The most common measure reveals ten dimensions of service quality: tangibles, reliability, responsiveness, communication, credibility, security, competence, courtesy, understanding the customer and access. These were then filtered to 5 dimensions and based on these 5 items a measurement tool for service quality was devised known as SERVQUAL (PUT SOURCE HERE!!!). While Yang (2001) highlighted the rapid growth of online retailing with broadening experiences of consumers online shopping, Santos (2003) believes that e-service quality can increase attractiveness, hit rate, customer retention, stickiness and positive word of mouth. It can also maximize competitive advantages of e-commerce. Numerous researchers have the discussed the dimensions of e-service quality including Cox and Dale (2001), Madu and Madu (2002), Parasuraman (2002), Yang et al. (2003), Parasuraman et al. (2004) and Lee and Lin (2005), yet online retailers appear to fail due to poor quality services provided to their customers. For that reason online service quality is significant for two reasons: (1) it influences customers satisfactions and intentions to shop online and (2) e-service quality plays a major role in attracting potential customers (Cai and Jun, 2003). Zeithaml (2002) points out online companies should focus on all elements of e-service quality before, during and a fter the transaction, as e-service quality is the extent to which a website facilitates efficient and effective shopping, purchase and delivery. 1.2.1 E-Service Quality and Customer Satisfaction Customer satisfaction is a critical element in the success or failure of any business. Web customer satisfaction has been emphasized as crucial by the rising demand for long-term profitability of dotcom companies and traditional companies that are â€Å"Net enhanced† (Pather, Erwin and Remenyi, 2002). An understanding of the factors that influence web customer satisfaction is vital for e-commerce. Satisfaction is a result of an effective evaluation, where some comparison standard is compared to the actually perceived performance. If the perceived performance is less than expected, customers will be dissatisfied. In contrast, if the perceived performance exceeds expectations, customer will be satisfied (Lin, 2003). A broad idea of traditional service quality might not be enough to build the e-service quality dimension, hence amending several variables is important. Santos (2003) discussed the e-service quality dimensions of, ease of use, web-appearance, linkage, structure and layout, content as the incubative dimensions; reliability, efficiency, support, communication, security, and incentive as active dimensions. This paper focuses on achieving a measurement of the service quality of the Jazeera Airways Website as perceived by their passengers, using a conceptual model of e-service quality developed by Santos (2003). 1.3 ONLINE TICKETING Electronic ticketing over the Internet facilitates the buying or reservation of tickets online, by making the process more easily accessible and convenient. Through these services tickets may be purchased from any location and at any time, provided an Internet connection exists. The tickets are ordered from a web site that provides both ticket information and the purchasing or reservation service. Internet booking or online ticketing concentrates on providing a helpful and efficient service to clients. Firms who sell travel tickets, performing arts, game tickets, concerts, movies and many other activities have notably embraced the online ticketing system according to Burford (1998). Convenience is a main advantage of buying tickets via the internet as the service is available at any geographical location, including ones home via laptop and cellular phone and at any time or day. Electronic ticket services have a further advantage by providing relevant information along with the service. This can help purchasing decisions and may encourage future usage (Burford, 1998). Another feature is that apart from maintenance and data updates, no manpower is necessary to offer the service once it has been established. The process of recording the transactions is more automated and overheads are reduced. An essential point is that ticket providers while providing a convenient service are thereby improving their public image and encouraging return customers (Burford, 1998). A number of countries across the globe are already benefiting from electronic ticketing including the U.S.A., Canada, Australia, New Zealand, Great Britain and France. In fact the U.S.A. it has 80% market p enetration, while in Europe it is approximately 40% and in the U.S.A. more than $350 million dollars in event tickets were sold online during 2000 increasing to $3.9 billion in 2004 (Bhatia, 2004). 1.3.1 Online Services and E-Ticketing in Kuwait The internet is a technology with many properties with the potential to transform the competitive landscape in many industries while at the same time creating completely new industries (Afuah and Tucci, 2003). The revolution of the internet continues to excel leading to rapid changes in many fields, at an overwhelming speed. In Kuwait, prior to 1990 internet usage was limited to electronic mail and minor services, however in 1992 a decision was made by the Ministry of Communication to facilitate the public data network. In the same year the National Science Foundation agreed to extend the Internet to Kuwait at a time when it was only available for US institutions and some selected institutions overseas. In recent years with the support of the Kuwaiti government for IT plans, practical steps have been taken in this field with the possibility of payment for mobiles and traffic tickets via the internet and the sale of online airlines tickets for the first time. These advances indicate the growth and development in the IT field in Kuwait as a whole. In 1943, the oil boom opened a new chapter in the modern history of Kuwait as The Kuwait Oil Company Limited (KOC) was founded. By 1947-1948 KOC developed the new Al-Nugra (Al-Mayass) Airport, located in the Nuzha district, operating in daylight only, with airlines opening offices in Kuwait City to handle ticketing and cargo operations for the Arab expatriate community. By 1954, the Kuwaiti National Airlines Company celebrated the arrival of the first airplane, which was called â€Å"Kazma† (http://www.da.gov.kw). The worldwide revolution of low-cost carriers (LCCs) started successfully with Pacific Southwest Airlinesin the United States, which pioneered the concept in 1949. Notable successes which have followed are Irelands Ryanair, which began low-fares operations in 1990, and EasyJet, formed in 1995. These low cost carriers then developed in Asia and Oceania from 2000 led by operators such as Malaysias AirAsia, Indias Air Deccanand Australias Virgin Blue. The low-cost carrier model is applicable worldwide, although deregulated markets are most suited for its rapid spread. In 2006, new LCCs were announced in Saudi Arabia and Mexico (http://www.absoluteastronomy.com). On September 12, 2005 Jazeera Airways owned by Marwan Boodai, Chairman and CEO, announced its first flights were open for booking. Jazeera Airways is the first privately owned airline in the Middle East, established in Kuwait. It offers passengers ticketless flights to Dubai, Lebanon, Damascus, Amman and Bahrain via the web, by phone, SMS or through travel agents (www.jazeeraairways.com). Breaking away from out-dated business models by developing a new model tasked with raising operational efficiency requires incorporating the latest revenue management procedures into the company and installing state-of-the-art technologies. This will ultimately enable travelers to become more independent in their bookings and payment. With tickets sold through a website as the main distribution channel, online booking is a very efficient distribution method for airlines. It reduces the number of back office staff and reduces the payment cycle. Jazeera Airways has worked hard to entice travelers to book through its website by making it the cheapest method to purchase tickets. Many promotional offers made by the company are available only to travelers who book online, therefore Jazeera Airways strategy is rewarding travelers who book online (www.jazerraairways.com) 1.4 PROBLEM DEFINITION Understanding customers requirements is vital to any business enterprise in order for it to remain competitive. Customer satisfaction is of great interest since it has a direct effect on customer retention, loyalty and the prospect of new customers. Retention is a major challenge, as customers can easily switch from one service provider to another considering the internet can facilitate easy access to a wide variety of choices with lesser cost. Acquiring new customers may involve significant cost on the part of the company in terms of marketing, advertising and promotion. Hence it is important to understand the determinants of customer satisfaction and assess the current experience of the customer in order to improve services. Customer satisfaction is a major issue of Jazeera Airways and good online service quality is a key factor that will determine in the long term, whether it will succeed or fail in retaining existing customers and attracting new ones. Due to rapid technological advancements in the marketplace Jazeera Airways maintains a close relationship with their customers, as their expectations and perceptions of online service quality may change. This research will therefore be conducted on Jazeera Airways, the first low cost airline in Kuwait. Jazeera Airways offers online ticketing in its website as the main distribution channel. Therefore it is important to take into account the quality of its website and to pay more attention to customer evaluation of the service given. Customers want to make their own bookings in their own time without depending on middlemen; as a result it is necessary that online service quality determinants lead to satisfaction. Dissatisfied travelers may perceive one of the following: Web sites do not seem to have many of the very basic features that experts consider important in forming relationship with customers. Service providers undervalue the attributes that customers use to judge service quality that should be monitored and enhanced to help the service performance. There are other variables of the online service quality that affect the overall travelers satisfaction. Therefore this research aims to address such problematic issues by researching the relevant factors including current opinion of the airline users. 1.5 RESEARCH OBJECTIVES As this research study aims to examine the customer satisfaction of the service of Jazeera Airways in online ticketing through the quality delivered through its website, its main objectives are as follows: To assess the perception of each service of Jazeeras e-service Quality dimensions. To evaluate consumer satisfaction towards e-service quality for online service quality within Jazeera. To determine the important dimensions leading to satisfaction when purchasing online tickets within Jazeera. 1.6 RESEARCH QUESTIONS In order to fulfill the objectives of this study, the following questions need to be addressed: What key incubative dimensions do online customers perceive as important for their e-service quality? What key active dimensions do online customers perceive as important for their e-service quality? What are the most influential online service quality dimensions of the website as perceived by respondents with a high level of customers satisfaction in the Jazeera Airways website? What are the most influential online service quality dimensions of Jazeera Airways contributing to customer satisfaction when examining the Jazeera Airways website? Are the different socio-demographic variables involved perceiving e-service quality and satisfaction in the same way or differently? 1.7 Research Methodology This research is considered deductive, quantitative, descriptive, explanatory, and exploratory to some extent type of study. The research follows the survey strategy approach and consists of 67 questions composed of a two page questionnaire distributed to the target sample in Kuwait. Data was collected using Arabic and English questionnaires, from a sample size of X passengers who booked online through Jazeeras website. The questionnaire consists of four sections (A, B, C, D). Section A solicits demographic information. Section B evaluates Jazeeras Airways e-service quality using an adapted Santos (2003) model. Section C measures the level of customer satisfaction. Statements of Section B and C are scaled using a Likert type scale from 1 to 5. Section D collects information added by customers that will add value to the research. 1.8 RESEARCH LIMITATIONS Throughout this research conducted in Kuwait regarding Jazeera Airways website service quality a number of limitations were noted as follows: The thesis investigates the customer satisfaction of Jazeeras Airways website service quality and does not include the companys perspective/point of view; therefore the study is limited in its scope to customers and not employees or managers. The study does not include product quality, price, situational factors, personal factors, and other services provided by Jazeera Airways. Using a quantitative approach only towards addressing the research problems, a qualitative approach is lacking. The research scope is limited as it assesses Jazeera online service â€Å"e-ticketing† excluding airport customer services such as check in, luggage, lounge and on board services. There is limited relevant literature concerning service quality in the airline industry in Kuwait and the region, therefore there are no previous findings or frameworks to consult. 1.9 THESIS STRUCTURE This study is composed of five main chapters. Chapter One presents the background details of the selected research area and the experience in Kuwait, followed by the problem definition, the research objectives and questions, the methodology, the studys limitations and the thesis structure. Chapter Two discusses related theories, concepts and models providing a comprehensive review and an insight into the subject area as a whole, followed by an explanation of the research to the country of Kuwait. Chapter Three describes the methodology, research design and techniques used in the collection and analysis of the data. Chapter Four presents the gathered data, their interpretation and analysis. Chapter Five looks at the findings, assessing whether they satisfy the research questions and objectives to draw conclusions from the results. Based on these conclusions, recommendations for management are provided with further suggestions for future research. CHAPTER TWO: LITERATURE REVIEW 2.1 INTRODUCTION In this chapter a comprehensive review of available related literature is made concerning website service quality and customer satisfaction. In the process various concepts, models and theories covering customer satisfaction, determinants of customer satisfaction, the relationship between online service quality and satisfaction and online service quality dimensions are presented and explored to give the study a wide ranging theoretical basis. In addition the relevance of the research to the country of Kuwait is also addressed. 2.2 CUSTOMER SATISFACTION 2.2.1 Definition of Customer Satisfaction Oliver (1980) explains satisfaction as the summary of a psychological state resulting when the emotion surrounding disconfirmed expectations is coupled with a consumers prior feelings about the consumer experience. In other words, satisfaction is an attitude or appraisal that is created by the customer comparing their pre-purchase expectations of what they would receive from the product or service to their subjective perceptions of the performance they actually did receive. Customer satisfaction has become a key intermediary objective in service operations, because of the benefits it conveys to organizations (Ranaweera and Prabhu, 2003). The importance of customer satisfaction results from the generally accepted philosophy that for a business to be successful and profitable, it must satisfy customers (Shin and Elliott, 2001). While many authors have described satisfaction using various definitions, Table 2.1 presents a few notable explanations of customer satisfaction. Table 2.1 Definition of Customer Satisfaction Definition Author Customer satisfaction is a collective outcome of perception, evaluation and psychological reactions to the consumption experience with a product/service. Yi (1990) Satisfaction is function of consumers belief that he or she was treated fairly. Hunt (1991) Satisfaction is a persons feelings of pleasure or disappointment resulting from comparing a products perceived performance (or outcome) in relation to his or her expectation. Kotler et al. (2000) Source: Research based From the above table we understand that satisfaction is the consumers evaluation of the product and service that meet their needs and expectations. According to Parker and Mathews (2001) there are two main interpretations of satisfaction; satisfaction as a process and satisfaction as an outcome. Whereas Gustafsson (2005) argues satisfaction has a strong positive effect on customer loyalty intentions across a wide range of product and service categories. 2.2.2 Determinants of Customer Satisfaction Zeithaml et al. (2005) argued that satisfaction, as shown in 2.1, is influenced by service quality perception, product quality, and price as well as situational and personal factors. Economists differentiate between two categories of properties of consumer products; search qualities and experience qualities. With search qualities consumers determine before purchasing a product like color, style, price, fit, feel, hardness and smell. Experience qualities, are hard to determine; as a result it can be evaluated after the purchase and until the service is received like vacations and restaurant meals (Zeithaml et al., 2005). Keaveney (1995)ppp.jpg point out that a main reason leading to customers switching services is price, as customers, based on prior experience with the service provider, sometimes felt cheated and believed that price increases were unfair or even deceptive. According to (Zeithaml et al., 2005) comparing the price relative to value and state, research reveals that customers of services will make trade-offs among different service features such as price level versus quality. A number of customers, for example, view price as an important element for their satisfaction more than quality. Perceived service quality is only one factor of customer satisfaction (Zeithaml et al., 2005). Consequently to achieve a high level of customer satisfaction, most researchers suggest that a high level of service quality should be delivered by the service provider as service quality is normally considered an antecedent of customer satisfaction (Cronin et al. 2000). Zeithaml et al. (2005) described a consumers emotional state as a personal factor. Satisfaction will vary due to customers biographical characteristics such as age, gender, education, ethnicity and income (Gilbert and Veloutsou, 2006;Van Pham and Simpson, 2006). Customers take partial responsibility for outcomes and describe those negative feelings that influence how a consumer responds to services, causing a person to overreact negatively to the slightest problem (Zeithaml et al., 2005). Situational factors can notably influence purchase decisions such as social environment, physical environment of the purchase place, time influence and the previous states (Vysekalovà ¡, 2004; Nagyovà ¡, 2001). 2.3 The Evidence of Service (3Ps) Services are intangible; therefore customers are searching for evidence of service in every interaction they have with the organization. The three major factors of service experienced by customers are: people, process, and physical evidence. Together these elements are considered as an evidence of the service. Each evidence or subset is present in each service 2.2. Firms should essentially manage the service quality that will lead to satisfying their customers (Bitner, 1993). 2.4 SERVICE QUALITY Numerous researchers have defined service quality their own ways, including Bitner, Booms and Mohr (1994) who described service quality as the consumers overall impression of the relative inferiority / superiority of the organization and its services. Perceived service quality is only one component of customer satisfaction (Zeithaml et al., 2005). According to Parasuraman et al. (1994) service quality is defined as, the degree of discrepancy between customers normative expectations for the service and their perception of the service performance. Gronroos (1982) stated that total service quality is customers perception of difference between expected service and perceived service. Afterward in 1984, he then explained service quality of the service encounter as two different dimensions: one is technical or output quality and the other functional or process quality. Therefore, service quality has become a well-liked area of academic investigation, recognized as a major factor in differentiating service products and gaining competitive advantage (Zeithaml et al., 1996). Table 2.2 presents the concept of service quality from varied authors viewpoints who combined suggest we can understand that meeting the need and requirements and achieving customers expectations depends on delivering the best level of service quality. Notably with time, service quality takes place before and leads to overall customer satisfaction Table 2.2 Definition of Customer Satisfaction Definition Author Service quality as the subjective comparison that customers make between the quality of the service that they want to receive and what they actually get. Gefan (2002) Service quality can be defined as â€Å"the difference between customers expectations for service performance prior to the service encounter and their perceptions of the service received†. Asubonteng et al. (1996) Service quality is determined by the differences between customers expectations of services providers performance and their evaluation of the services they received. Parasuraman et al. (1985,1988) Source: Research based Gilbert and Veloutsou (2006) determined different approaches to measure customer satisfaction, varying between measuring expectations relative to perception or measuring the performance aspect only, without relating it to the desired level of service. Service quality has been found to be an important input to customers satisfaction (Caruana, 2002). 2.4.2 Dimensions of Service Quality Service quality has been the focus of increased study in recent years as many researchers have tried to reveal features of services that significantly relate to quality evaluation in traditional service environments. In 2001 Brady and Cronin presented a model consisting of interaction quality, physical environment quality, and outcome quality. These dimensions draw on, among others, the work of Gronroos (1982) and Rust and Oliver (1994) who suggest that exploring both what is delivered (Gronroos technical quality) and how it is delivered (Gronroos functional quality) are important aspects of service quality. Table 2.3 Dimensions of Service Quality Quality Requirement Description Reliability Reliability Consistency of service/ dependability, i.e. the ability to provide the service on time, accurately and dependably Responsiveness Responsiveness Willingness/readiness of employees, i.e. the ability to deal effectively with complaints and promptness of services Assurance Credibility The extent to which the service is believed and trusted; involves honesty, trustworthiness and believability Courtesy The politeness, respect, consideration and friendliness shown to the customers by the contact personnel Security The freedom from danger, risk and doubt Competence The possession of staff of the necessary skill, knowledge and information to perform the service effectively Empathy Access The ease of approachability and contact Communication Listening to customer and keeping them informed about the service Understanding the customer Trying to understand the customers needs and specific requirements Tangibles Tangibles Appearance of personnel and condition of equipment Source: Parasuraman et al. (1985); Ghobadian et al. (1994); Curry and Herbert (1998) A most widely used and accepted study done on service quality is by Parasuraman et al. (1985). Having developed ten dimensions through focus group studies: tangibles, reliability, responsiveness, communication, credibility, security, competence, courtesy, understanding the customer, and access. These ten dimensions were then filtered and extracted to five: tangibles, reliability, responsibility, assurance, and empathy, which constitute the basis of a global measurement for service quality, SERVQUAL (Parasuraman et al., 1988). Based on these five dimensions researchers presented a 22-item service quality scale and on an operational level service quality research has been dominated by the SERVQUAL (Parasuraman et al., 1985; Curry and Herbert, 1998). Table 2.3 presents a description of the service quality dimensions. 2.4.3 Relationship between Customer Satisfaction and Service Quality Service quality has been found to be an important input to customer satisfaction (Caruana and Malta, 2002). Cronin and Taylor (1992) examined the causal relationships between service quality, customer satisfaction, and purchase intention. The results suggested that service quality was an antecedent of consumer satisfaction, service quality had less effect on purchase intentions than did consumer satisfaction, and consumer satisfaction had a significant effect on purchase intentions. Customer satisfaction had a stronger effect on behavioral intentions than service quality did (Dabholkar et al., 2000). As a process in time, service quality takes place before, and leads to overall customer satisfaction. Customers loyalty was affected by product quality, service quality, and retailer image. They also suggested that quality of product and service is directly related to customer satisfaction, and then leads to the loyalty of the customer (Cà ¶ner and Gà ¼ngà ¶r, 2002). Based on empirica l findings in service quality and satisfaction literature, service quality is one of the antecedents of satisfaction (Anderson and Sullivan, 1993; Cronin and Taylor, 1992), and loyalty is one of the consequences of satisfaction. Luarn and Lin (2004) indicated that not only customer satisfaction and perceived value directly affected customer loyalty, but also indirectly affected customer loyalty through commitment. 2.5 THE ROLE OF TECHNOLOGY IN SERVING CUSTOMERS According to Parasuraman (2000), delivering excellent customer service is vital in case customers have to serve themselves by technology-based systems. With quick penetration of technology-based customer-company interfaces such as online banking and e-commerce, employee-delivered service is being replaced by self-service, reducing the need for face-to-face encounters between customers and company personnel. However, this fundamental shift does not mean that companies can afford to ignore customer service. Development of self-service technologies need to emphasize customer service to ensure the customer-technology interface is user-friendly, putting in place an excellent customer-service infrastructure (including properly tr