The Four Stages of Life as a Hindu Research Paper

The Four Stages of Life as a Hindu - Research Paper Example Overall, the first three stages aim for an appreciation of life, while the fourth one is centered upon the rejection of life and the attainment of wisdom. During the first three stages of Hindu life, one is expected to observe the â€Å"dharma† or the laws of morality and the â€Å"sistacara† or the ideal social culture (Jhingran 77). Only Hindu males, however, are expected to undergo the four stages (76). Overall, the first three stages only include men and not women. Nevertheless, wives may participate with their husbands’ role beginning with the second stage. (â€Å"The Four Stages†) The first stage is the student stage, or Brahmacharya, where a Hindu male is expected to live and study with a guru or teacher for several years (â€Å"The Four Stages†). Normally, a high caste Hindu male undergoes the student stage from the age of 8 to 12 years old up to about 18 to 24 years old (â€Å"Hinduism†). This is the stage where the student serves th e guru and shows respect to his teacher, as well as develop the habits, skills and practical knowledge he needs for the succeeding stages (â€Å"Hinduism†). Moreover, it is during this stage that the student begins studying the Vedas, or the sacred Hindu texts. (â€Å"The Four Stages†) It is actually only the Brahmins who are supposed to study and memorize huge portions of the Vedas as well as the accompanying texts, while at the same time undergoing training in the various Hindu rituals. Moreover, these Brahmins, as well as all other members of the other castes, learn the procedure for setting up and maintaining their own household worship, which are centered on the holy fire of Agni, the Hindu god of fire and receiver of sacrifices. (â€Å"The Four Stages†) It is interesting to note that the study of the Vedas applies only to those who belong to the â€Å"twice-born† castes, or the upper three castes – the Brahmins, the Kshatriyas and the Vaishya s – or only those to whom the religion applied in the Vedas applies. The Shudras, or the servants of upper castes and peasants, are therefore excluded from the study of the Vedas (â€Å"Social Organization†). On the other hand, members of the twice-born castes, before they become a student, undergo a certain ceremony called the thread ceremony, where the initiate wears a red thread over his left shoulder. This is symbolic of the formal and official entrance of a young boy into Hinduism. The thread ceremony is a kind of samskara or ritual not only ordains a young boy into Hinduism but also confers in him the quality of being reborn and permits him to hear the sacred Vedas for the first time and learn his first mantra. (â€Å"The Four Stages†) The student at this stage is also expected to remain celibate (Sharma 28). The means of which is to preserve the semen, which is the â€Å"vital fluid of life,† and the purpose of preserving this vital fluid is to hav e â€Å"glowing faces, reddish or pinkish countenance, strong muscles and bones, [and] proportionally built healthy bodies† (29-30). Overall the ultimate purpose of the student stage is the development of three aspects of a young person’s self and personality: body, mind and intellect. (30) Lastly, the student is expected to avoid any form of luxury or pleasures, and to practice forgiveness, perseverance and self-control. He is also expected to develop control of emotions like anger and jealousy. (Jhingran 78) After the

State sovereignty and globalization Research Paper

State sovereignty and globalization - Research Paper Example This is also possible because of the concept of globalization. Globalization has made it possible to disseminate and distribute information thousands of miles away. Globalization has also led to the emergence of other actors at the international arena, such as International Governmental Institutions. Examples of Inter-Governmental Institutions include the United Nations, NATO, European Union and the African Union. States have to cede some of the sovereign rights in order to be members of these organizations.2. Inter-Governmental Institutions as agents of Globalization: Inter-governmental organization is an institution that is composed of sovereign states, and they join it for the purposes of benefiting politically, socially or economically. The representatives of various governments sign treaties, which then pass through the process of ratification, to give the agreement a legal recognition. The inter-governmental institutions must not be confused with various treaty organizations. F or instance the North American Free Trade Agreement and the General Agreements on Tariffs and Trade are not examples of inter-governmental institutions, but they are examples of treaty organizations. Because inter-governmental organizations involve associations between governments at the international arena, it can be termed as an agent of globalization. ... Some Inter-Governmental organizations are formed for the main purpose of restoring and preserving peace. An example of such an institution is the Formation of the League of Nation, after the end of the First World War. The institution was formed to prevent an emergence of another war, similar to the magnitude of the First World War. However, the institution failed to prevent the emergence of the Second World War. Because of this failure, the International community resolved to form the United Nations. One of the failures of the League of Nations is to attract United States of America as a member. United States refused to join the League of Nations, for purposes of protecting its sovereignty. The government of United States of America realized that joining the institution would amount to ceding some of its sovereign rights. Some inter-governmental organizations are formed to promote inter-governmental cooperation in relation to environmental conservation, human rights protection and s ocial development. Examples include UN Habitat, United Nations Economic and Social Council, and Economic Community of West African States. Globalization in this context is seen through the interaction of States, to benefit from those associations either through trade, or advancement of their socio-political ideologies. This is the case of International Monetary Fund and the promotion of Liberalization of a State’s economy. This was the main ideology of United States and the Western parts of Europe3. They were the main financiers of IMF and World Bank. These institutions played a great role in opening up the economies of third world countries, and therefore eroding some elements of their

Research Paradigms and Concepts of Ontology and Epistemology

Research Paradigms and Concepts of Ontology and Epistemology Chapter 2: Research Methodology This chapter of our thesis will illustrate the methodology that was undertaken in order to conduct our research. This chapter is further divided into two sections. In 1st section of the chapter we will discuss theoretical methodology. It includes research philosophy, research approach and research strategy. In 2nd section of the chapter we will discuss practical methodology. It includes choice of the subject, preconception, perspective, literature, data collection and sampling of methods. Here we will not only describe the methods that are opted during our research process but also try to explain and justify why they are preferred over the alternatives methods that are available. 2.1: Theoretical methodology 2.1.1 Research philosophy During a business research it is imperative to think about different research paradigms and theme of ontology and epistemology. These research paradigms represent a parameter that controls the research carry out from research design to the conclusion and recommendations of the research. Thats why it is of great significance to understand these features in order to move in harmonious manner and actions leading towards unambiguous investigation and making sure that researcher biasnesses are minimized (Flower, 2009, p 1). 2.1.1.1 Epistemological Choice â€Å"Epistemological issue concerns with the question of what or should be regarded as acceptable knowledge in a discipline†.(Bryman Bell, 2007, p. 16). Eriksson and Kovalainen describe epistemology as â€Å"what knowledge is and what are the sources and limits of knowledge† (Eriksson and Kovalainen, 2008). It is important that the given piece of knowledge is studied in the relative manner. Epistemology is further divided into positivism, interpretivism and realism. Positivism: Positivism is the resultant of research in natural science where a hypothesis is tested that is derived from a prevailing theory. Positivism emphasizes that true and reliable knowledge is that which stands upon logic, practical experience and affirmative authentication. â€Å"The purpose of theory is to generate hypotheses that can be tested and that will be thereby allow explanations of laws to be assessed†(Bryman Bell, 2007, p. 16). Positivism is generally linked with quantitative research where one selects a theory and piece of knowledge, then collects data and interprets it and hence proves the hypothesis to be true or not. â€Å"The researcher seeking to adopt a decided positivist stance exercises choice of the study, the research objective to pursue and the data to be collected† (Saunders et al., 2009, p. 114). It is believed that the positivist researcher will use structured methodology with the aim of producing replicability. Interpretivism Interpretivism is a stance contrary to positivism and is also known as anti-positivism. Philosophers of social science believe that subject matter of a research in a social science that is undertaken upon some individuals and personals or institutions are different from that of the natural science (Bryman Bell, 2007, p. 17). According to Saunders et al., (2009) phenomenology and symbolic interactionism are the two intellectual traditions that interpretivism comes from. â€Å"Phenomenology refers to way in which we as humans make sense of the world around us. In symbolic interactionism we are in continual process of interpreting the social world around us in that we interpret the actions of others with whom we interact and this interpretation leads adjustment of our own meaning and actions† (Saunders et al., 2009, p. 116). Realism: Realism is another branch of epistemology that is similar in nature to positivism. According to this philosophic position reality does exist independently of the human realization. There are two main types of realism. Bryman Bell, 2007 named them empirical realism and critical realism. Whereas Saunders et al., 2009 name them as direct realism and critical realism. Main difference among critical and direct realism is that critical realism claims that our knowledge is developed in two phases. Firts there is an object and substance we see and experience trough our senses and in second phase process goes on after the senses receive the sensations. Whereas direct realism claims first phase is enough and what we see is what we get (Saunders et al., 2009, p. 117). In epistemological consideration of our research we take the positivist position. The reason behind selection of positivist stance is what we studied in the literature we develop a hypothesis on the basis of prevailing theories and in our empirical findings we will test this hypothesis for acceptation or rejection. What we are going to study is the usefulness of banks internal evaluation model (CAMELS) with respect to external credit rating models such as PACRA and Moodys. Another reason behind selection of this stance is the use of secondary data and positivism is usually linked with researches that are quantitative in nature such as statistical tools and figures. 2.1.1.2 Ontology: This pillar of the research paradigm deals with the nature of social entities and realities. This raises the question of â€Å"whether social entities can and should be considered objective entities that have reality external to the social factors, or whether they can and should be considered social construction build up from the perception and actions of the social actors† (Bryman Bell, 2007, p. 17). Above we discussed two aspects of ontology, are known as objectivism and constructivism respectively. In ontological consideration, our research thesis is objectivist in nature. For empirical finding of our thesis we will use statistical tools such as financial ratios. The result provided by these ratios will be rated on the scale of 1 to 5 based on the issued ranking system of CAMELS rating model. Then we will compare the result provided by CAMELS rating model with the issued ratings of PACRA rating agency of the same period of time. So it is obvious from our choice of ontological consideration that the research will be free from every sort of biasness of the authors. 2.1.2 Research Approach: At this stage of a research one has to decide on the basis of chosen theory thats is either learnt or contained in the literature that he/she will follow a deductive approach or inductive approach. In deductive approach one develops a hypothesis from the theory and devises research strategy to test the hypothesis to accept or reject it. Whereas in inductive approach one has to collect data, analyze it and develop theory based on the result of analyzed data (Saunders et al., 2009, p. 124). 2.1.2.1 Deductive approach: This approach represents characteristics of the correlation among theory and research. On the basis of gained knowledge that may be inferred from the theoretical reflection about the research field, one assumes a hypothesis that will be observed in empirical analysis (Bryman Bell, 2007, p. 14). According to Robson (2002, cited in Saunders et al., 2009, p. 124) deductive research goes through 5 steps. First develop a hypothesis from a theory, second express the hypothesis in operational terms, third is hypothesis testing, fourth analyzes the particular result of the inquiry and in the fifth and final stage verifies or modifies the theory on base of your findings. Collection of quantitative data is an important characteristic of deductive approach although it may use qualitative data some times. In deductive approach highly structured methodology is implemented to assist replication to guarantee reliability. Generalization is another important characteristic of deductive approach (Saunders et al., 2009, p. 124-125). 2.1.2.1 Inductive approach: In inductive approach theory is developed on the basis of research observations. Researchers in inductive approach are predominantly concerned with the events that are actually taking place and deal with the small sample as against the large number in deductive approach. Researchers most likely use qualitative data in this approach. Structure of the research in inductive approach is more flexible as less generalized as compared to highly structured methodology and generalized characteristics of deductive approach (Saunders et al., 2009, p. 126-127). In our research we will use deductive approach and not the inductive approach. The primary reason behind selection of this approach is correlation among the theory and hypothesis. On the basis of studied literature and constructed theoretical frame work we have derived a hypothesis. Our thesis findings will lead us towards the acceptation or rejection of hypothesis which is superiority of banks internal evaluation models with respect to external rating agencies models. As we know that deductive approach is highly structured methodology so our thesis will follow the predefined structure.. 2.1.3 Research strategy: According to Bryman Bell, 2007 â€Å"by research strategy, we simply mean a general orientation to the conduct of business research†. Two separate clusters of research strategy are qualitative and quantitative research. Both quantitative and qualitative researches are different from each other not only on the basis of quantification and measurement of the result but also on the basis of epistemological and ontological foundations (Bryman Bell, 2007, p. 28). 2.1.3.1 Quantitative research: Quantitative research is mostly used in deductive approach where the aim of the study is to test a hypothesis for proving a theory. In quantitative research analysis of the result is mostly in numbers and quantify. Another characteristic of quantitative research is size of the sample is very large. Quantitative research is subject to a very low level of biasness in the interpretation from the researchers as statistical tools are used for analysis of the results. Quantitative research is more generalizable. Quantitative research is more positivist in nature when it comes to epistemological orientation. While in ontological orientation quantitative research is objectivist in nature (Bryman Bell, 2007, p. 28). According to Bryman Bell, 2007 quantitative research have 11 steps. Steps mentioned by them in their book Business research methodsare as follow 1st Theory, 2nd Hypothesis, 3rd Research design, 4th Devise measures of concepts, 5th select research site, 6th select research subjec t / respondent, 7th administer research instruments / collect data, 8th Process data, 9th Analyze data, 10th finding and conclusion and 11th is write up findings and conclusions. Fig 2.2 Based on the idea from Bryman Bell, 2007 the process of quantitative research. 2.1.3.2 Qualitative research Qualitative research is the contrast of the quantitative research in almost every aspect. Qualitative method is mostly used in inductive research where emphasis is on the generation of a theory that is based upon research observation. Analysis of the qualitative research is based upon the words and statements and mostly in textual form. Qualitative research is more interpretivist in nature when it comes to epistemological orientation. While in ontological orientation qualitative research is constructivist in nature. Size of the sample in qualitative research is small. Researcher in the qualitative research requires special skills for the interpretations of the results. Contrary to quantitative research, qualitative research is less generalizable and very low level of replicability. (Bryman Bell, 2007, p. 28). Below is differentiation chart of quantitative and qualitative research based on different research aspects. Research Aspect Quantitative Research Qualitative Research Scientific Method Deductive Inductive Nature of reality Objectivist Constructivist Research objective Description, explanation and prediction Description, exploratory and discovery Nature of observation Narrow angle focus lens Wide angle focus lens Form of data Quantitative data Qualitative data Sample Size Large sample Small sample Data analysis Statistical tools Search for patterns, themes and holistic features Results General findings Particular findings Conclusion Statistical report Narrative report Self made chart based on the studied books and articles. In our research thesis we will use quantitative research strategy instead of qualitative research. Selection of quantitative research strategy is based upon number of arguments other than presentation of result in numerics and figures. As in epistemology consideration our research is positivist in nature and in ontological consideration we has opted the stance of objectivist, this is another reason for our selection of quantitative research. Our research is basically concerned with numbers and use of statistical tools to measure and analyze these numbers and figures. We have selected deductive approach which is usually related with quantitative research strategy and we argued about its selection in previous section. So keeping in mind our research question and objective we selected this strategy that will be appropriate and will guide us though out our research process. 2.1.4 Nature of Research The relationship between events or factors is often described, examine, and explain by the researchers. The research can either be descriptive, explanatory, exploratory or predictive nature. Nature of the research totally depends on research question. In descriptive research the researcher tries to identify or describe the events. For example in descriptive research if the question is â€Å"What is the present or past state of events?† for this the researcher selects the representative sampling of the people. Whereas explanatory research is for events to be explain by the researcher and look for fundamental reasons. Explanatory research is also referred to interpretive research. For example the researcher conducts explanatory research if they ask â€Å"Why have these events happened in the manner they did?†Ãƒâ€šÃ‚   Or â€Å"What are the implications of these events occurring as they have? (Rubin et al, 2010, 198)†. Exploratory research is a type of research when researcher is unable to find any or very few prior studies about the research question. Exploratory study aspire researcher to look for the ideas, Patterns, or hypothesis, instead of testing or verifying a theory. In exploratory research typical techniques are used here researcher comprises observation, case studies, and previous studies. In this type of research the researcher uses both qualitative and quantitative data. Exploratory research totally focuses on achieving the imminent and acquaintance with the subject area to examine at later stage (Collis Hussey, 2009, p. 6). Predictive research advances one step further than explanatory research. Aim of the study is to create justification for what is happening in particular circumstances. Predictive researchis concerned with the anticipation of a possibility of some occurrence. Aim of predictive research is to generalize the investigation by forecasting some phenomena on the foundation of hypothesized, general relationships. Henc e we can say that solution provided by a predictive research in a particular situation can be applicable to some other problems of similar nature, provided that the solution is valid (Collis Hussey, 2009, p. 6). Nature of our research is exploratory in nature as we didnt find any previous research work on the same research problem. There are some articles and thesis that reflects the usage of camels rating model framework on any particular or limited number of banks. As in our research we will try to investigate the superiority of banks internal rating models with respect to external credit rating agencies, we found no research work in this particular field. Our research will open a new window of research in the field of banking rating systems. 2.1.5 Time horizon of research: Time horizon of research plays a very significant role for both authors of the research and readers of the research. From researchers point of view it is important to understand that what type and quality of data they are collecting for the research and how easily it can be collected. Some time it is very difficult and time consuming to collect the data spread over long period of time. From readers point of view time horizon of the research is of great importance as it shows credibility and quality of the research observations. According to Sunders et al. 2009 time horizon of the research can be divided into two types; cross-sectional research and longitudinal research (Saunders et al.2009, p. 155). 2.1.5.1 Longitudinal study Longitudinal study is such type of a research in which same sample of population is observed over a longer period of time. Longitudinal research is a type of observational research in which the subjects are observed without manipulations and hence can be argued that it has less potential to detect cause and effects relationships of variables as do by the experimental studies. In longitudinal research, researchers have the opportunity to observe changes and improvement that took place over the period of time (Lindborg Ohlsson, 2009, p. 15). 2.1.5.2 Cross-sectional study Cross-sectional research is a study of sample observations or of a population in which a researcher makes her/his study and get result for a short period of time or on a single occasion. From the population researcher takes sample and within that sample he/she distribute the variables, and sometime the variables which are predict and designated on the bases of reasonable information which he/she gets from other sources. Descriptive and exploratory studies are frequently cross-sectional. For example a single survey of a country to describe the population of the specific country at a given time. Cross-sectional study is also very close to explanatory studies. A researcher conducts a survey on national base to examine the nation problem at a given time (Hulley et al, 2007, p.109).   Keeping in mind above arguments about longitudinal and cross-sectional studies, we can easily say that our research is a cross-sectional study. As in our thesis we will manipulate one year annual financial reports for the year ended on 31st Dec 2010, and all 17 banks belongs from Pakistan. It would be of great significance to use annual reports of more than only year but the problem is at the same time we need to collect published credit ratings of banks for the same year and that was very difficult to collets as most banks do not keep their old records of ratings. As we discussed above that cross-sectional studies are mostly exploratory or descriptive in nature and our research is also exploratory in nature. 2.2 Practical Methodology: Selection of the research topic: Both authors of the thesis come from Islamic Republic of Pakistan where banking industry is on the boom despite of the general economic turmoil. As far as our educational background is concerned, one of the authors has done of BBA (Hons) with major in Finance and second author has done MBA with major in Finance, in which we studied several courses about banking and finance. This was the point where our interest was developed in the field of banking. Now being the students of Master in Finance, keeping in view our future professional careers in the field of banking and finance, we choose this research topic. As our research is focusing on CAMELS rating model that takes into account 6 important component of banking industry, it will give us better understanding and knowledge about performance of banking industry particularly in Pakistan. Another reason behind selection of this research topic is our personal curiosity about the ratings of the banks particularly in Pakistan. Preconception: Preconception about the research topic is quite important as it develops interest of the researcher and involves him neutrally in the topic. Both authors of the thesis worked as an internee in conventional bank in Pakistan after completion of their studies and have gained some practical experience of banking. In our practical experiences we observed that not all of above but some of these factors that are addressed in ratings models are of great importance for better performance of the banks. Perspective: Perspective provides point of view about the chosen field of study from several angles with different aspects, providing a pool of options from which the most suitable one is to be selected while keeping in mind your research question and purpose. Our thesis is based upon the superiority of CAMELS rating model results with respect to external rating agencies; we will be looking at it from internal point of view of the banks and their regulatory authorities. But it readers can also be external users such as rating agencies and will be useful for them as well. Data Collection Method: For any type of research study data collection is an important aspect. Data is the source from where researchers can get relevant information to answer the research questions. To gather applicable information researchers use primary and secondary data as a sources. Primary data is collected or perceived straight from the first time experience. Or we can say that data collected for the first time particularly for this research problem. The sources contained in primary data are questionnaires, observations, social surveys, experiments and interviews. On the other hand secondary data is published and the data collected by someone else in the past. We use the published and collected data by someone else to solve our problems but the problem might be different from others. The sources from which we can collect secondary data are articles, books, journals, and web-based data (Ghauri Gronhaug, 2005, p. 91-102). Theoretical framework of our study that is based upon secondary data, we read all relevant literature to our study that gave us full knowledge and beneficial understanding of our research questions. On the basis of this further study should be conducted. Findings of our research are totally dependent upon secondary. Findings of our research are complex in nature but our secondary data will help us to achieve this objective. The electronic search engine is the main source in our study we used Umeà ¥ University electronic library, Google search, electronic books; we also use printed materials like books. Literature studied: Access to the relevant and authentic literature for a researcher is of great importance. It provides basis for the researcher to build upon the theoretical frame work of a chosen field of study and research design (Brayman Bell, 2007, p. 94). In the beginning of our research we studied some articles regarding the financial crises caused by the collapse of leading financial institutions of that time and banking industry of Pakistan afterwards we collected some articles and books through university archives database and internet search about research methods to construct research methodology chapter of our thesis and to guide us throughout our thesis. Articles are mostly collected from journals of Banking and Finance, journal of international banking regulation and the review of financial studies accessed through university provided logins on its database. It is a difficult task to gather relevant articles as one comes across so many articles that look relevant but they are not in rea l. We also studied some online books that are available via different websites such as www.book.google.com. We also gathered some material such as brochures and working papers about the procedures and methods used for ratings of financial institutions form rating agencies websites including SPs, PACRA, and regulatory authorities such as Basel and SBoP. The collected materials provide us better understanding and capabilities to work in the field rating systems.   Sampling: Sample is a subset of whole population that is selected to represent the population in any specific research to perform statistical inferences and to make judgments about the whole population on the basis of selected sample. For researchers it is very important to select appropriate sample from population to make inferences. There are two primary reasons why researchers select a sample for their research instead of studying the whole population, 1st it is very costly and 2nd is the time limitation for a research. According to Bryman Bell, sample is a fragment of population chosen for examination or research. Talking in a broader sense there are basically two types of sampling approaches: Probability and non probability approach (Bryman Bell, 2007, p. 182). Probability sampling is an approach in which each and every unit of population has equal chance of being selected in the sample and their probability of selection is greater than â€Å"0†. This is the most suitable approach that eliminates bias in sample selection and reduces sampling error. Simple random sampling, systematic or interval random sampling, stratified sampling and cluster sampling are some types of probability sampling (Brayman Bell, 2007, p. 182). Whereas on the other side non probability sampling is an approach in which probability of selection of elements is not known or some elements of the population have no chance to be selected as a sample. Referral (Snow ball) sample, quota sample, criteria sample, homogeneous sample, critical sample and matched sample are the types of non-probability sampling. Referral sampling method is also knows as snow ball sampling. This type of sampling procedure is used when it is difficult to find subjects or samples for the research. In this type of a research sample we cannot identify our sample in advance and important consideration is to find initial subjects and informants. From initial subjects we can ask to identify further subjects for our research sample and the process continues to go on like a snow ball (Swisher, 2010, p.1). In Quota samplingpopulation is first divided into subgroups based on some criteria and then subjects are selected as a sample from each group. Quota sampling can be further divided in two sub groups known as proportional and non proportional quota sampling. In proportional quota sampling, sample of every sub group of population is represented by its proportional weight age of the population. Where as in non proportional quota sampling a limit of minimum numbers of sample subjects are set as a standard and are not nec essary to represent its proportion in the population. It only has to justify that the chosen sample is able enough to represent a small group in a population. Heterogeneity sampling is a procedure when we select sample for our research that will represent every group of thought or variables of the population, on the other hand Homogeneous sampling is a procedure of sampling when we want to study about some specific factors or variables and their effect on the outcome that represent the population (Trochin, William, 2006).   Criteria sampling is a procedure to select sample from the population that is based upon some specified and thoughtful criteria. Criteria set by the researchers fulfilled by any subject that represents the population should be included in the sample and any subject fail to meet the criteria is not included in sample that will represent the population (Swisher, 2010, p.4). To make a sample for our research we have selected criteria sampling method. As we are working on the CAMELS rating model and its replicability to the results of the external credit rating agencies published ratings, so for that we have to work upon banks annual financial reports. Our criteria for the banks to be included as a sample is the availability of their audited annual financial reports for the year ended 31st Dec 2010. Total population of number of banks operating in Pakistan is 38. Out of 38 banks 5 banks are Islamic commercial banks and operating on Sharia standards that is to great extent different from commercial banks system. CAMELS rating model is designed for conventional banks and its applicability on Islamic banks is argued by several authors but contradicted by others. So for this particular reason we did not include Islamic banks in our sample. There are 6 foreign banks operating with in Pakistan as subsidiaries of other multinational banks, and these banks prepar e their annual financial reports and submit it in their Head offices that further add up in their consolidate annul reports. So there were some complications in collection of their annual reports and its interpretation. Because of this reason we did not include these foreign banks as our sample for our thesis. Further on searching for the annual audited financial reports of the banks, we find out that till date 10 banks did not published or announced their annual financial reports. As these banks did not meet with the predefined criteria of availability of their annual financial reports, they are also excluded and are not part of our sample. At the end we are left behind with 17 banks and their audited annual financial reports, so our sample includes 17 commercial banks from Pakistan.

Robert Goddard: The Father of Modern Rocketry Essay example -- essays

Robert Hutchings Goddard was a futurist. He was born in Worcester, Massachusetts on October 5, 1882. He was the son of a machinist and his father was known for his brilliance with machinery and tools. The Goddard’s moved from Worcester to Boston while Robert was just an infant, because his father went in half and half on a local machine tools shop. In Boston, is where the young Robert Goddard spent his youth as an only child, and most of his younger years were spent alone at home due to his mother’s illness with tuberculosis. Robert would not see his family’s hometown of Worcester again until he was seventeen in 1899. Much of his life was spent as an ill child (Spangenburg, 10), and he was an average student with an aversion to mathematics. Illness kept him out of school entirely in that autumn of 1899, and by this time Robert had only completed his freshman year of high school. Although he was unable to spend a lot of time within institutional walls, the young Goddard was not without a strong yearning to learn--at least to learn science. Much of the time he spent sick at home sick was consumed reading the Scientific American, or books from the library both science and science fiction novels—-especially H.G. Wells’ War of the Worlds, a novel he would re-examine often in later years (Burrows, 32). Robert Goddard found happiness while doing his chores and often used found this time for relaxing. Like many young seventeen year olds, the time was spent daydreaming and this was the case on the 19th day of October 1899. Little did the young man know that this entry in his diary would change his entire life: â€Å"As I looked toward the fields in the east I imagined how wonderful it would be to make some device which had even the possibility of ascending to Mars, and how it would look on a small scale if sent up from the meadow at my feet. . .It seemed to me that a weight whirling around a horizontal shaft, moving more rapidly above than below, could furnish lift by virtue of the greater centrifugal force at the top of the path. I was a different boy when I descended the tree from when I ascended, for existence at last seemed very purposive.† (Yost, 145)   Ã‚  Ã‚  Ã‚  Ã‚   This new idea was known as the linear-force-from-eccentric-rotation, and although it was only a daydream of the young man, it was the spark that would ignite Goddard’s unendin... ...f his research, the inventor was able to accomplish his goal of creating a rocket capable of flight, and his design would later reach the stars. Furthermore, had his work been sponsored by the Armed Forces after the First World War, the space race would have not been such a challenge for the United States (Yost, 144). Dr. Goddard is still revered and remembered as the Father of Modern Rocketry. WORKS CITED Burrows, William. THIS NEW OCEAN: THE STORY OF THE FIRST SPACE AGE. New York: Random House, 1998. Freeman, Marsha. HOW WE GOT TO THE MOON: THE STORY OF THE GERMAN PIONEER. Wash DC: 21st Century Science, 1993. Lehman, Milton. THIS HIGH MAN: THE LIFE OF ROBERT GODDARD. New York: Farrar, Straus & Giroux, 1963. Levine, Alan. THE MISSILE AND SPACE RACE. Westport: Praeger, 1994. Spangenburg, Ray & Moser, Diane. SPACE EXPLORATION: OPENING THE SPACE FRONTIER. New York: Oxford, 1989. Stockton, William & Wilford, John. SPACELINER. New York: Times, 1981. Time-Life Books. OUTBOUND: VOYAGE THROUGH THE UNIVERSE. Richmond: Time-Life, 1989. Yost, Edna. MODERN AMERICANS IN SCIENCE AND TECHNOLOGY. Second Ed., New York: Dodd, Mead, 1962.

Ethics †Food Essay

Although most people do not realize it, patrons of food establishments place their lives in the establishments’ hands. Improper storing and labeling of food items or selling slightly-expired food can be tempting from a financial perspective but can lead to serious injury or worse due to food poisoning, cross-contamination or allergic reactions. Food establishments should include firm commitments to food safety in their codes of ethics, always placing food safety above financial concerns. This includes going beyond the letter of the law to enforce the highest product quality standards. A code of ethics should include a commitment to sell only healthy products and never to use harmful ingredients. (http://smallbusiness. chron. com/code-ethics-food-establishments-10815. html) Delicious This Code of Ethics describes standards of conduct for Healthylicious board members, officers, managers and all other employees of Heakthylicious, and has been approved by the Healthylicious Restaurant Group, Inc. Board of Directors. Many of the policies in this Code are based on various laws and regulations. Other are based on business and ethical principles than enhance Healthylicious ability to conduct its business effectively. Others restate basic work rules and principles contained in the Employee Handbook. The purpose of the Code is to provide guidance and set common ethical standards each of us must adhere to on a consistent basis. It governs the actions and working relationships of board members, officers, managers and all other employees in dealing with fellow employees, guests, competitors, vendors, suppliers, governmental and self-regulatory agencies, the media, and anyone else with whom our company has contact. These relationships are essential to the continued success of Healthylicious restaurant . (www. mortons. com/assets/pdf/code_of_ethics. pdf? ) This Code: †¢ Requires the highest standards for honest and ethical conduct, including proper and ethical procedures for dealing with conflicts of interest between personal and professional relationships. †¢ Requires full, fair, accurate, timely and understandable disclosure in reports and documents that Morton’s files with, or submits to, governmental and regulatory agencies, and in other public communications made by Morton’s. †¢ Requires compliance with applicable governmental laws, rules and regulations. †¢ Requires the prompt internal report of any illegal behavior or violations of the Code. †¢ Establishes accountability for adherence to the Code. †¢ Provides for methods to communicate violations of the code. * We consider moral as an inevitable factor in caring on any duties & talking decisions. We try to follow the highest standards based on Sincerity, generosity, conscientious. * We carry on the affairs individually & groups to bring about validity to our company. * We at all times spend all of our energy & resources towards production and services to guarantee our success against our competitor. * We behave equally towards all our guests all race religion, nationally and beliefs. * We offer all our services & productions in highest standard with perfect constancy. * We provide a safe & sanitary environment for all our guests and personal. * We try to stay for good at highest position & in majority in word, practice ethic affairs. * We promote knowledge, education experience and motivation for all the staff in order to do their duties in a higher standard. * We provide equal opportunities for anyone to carry on their duties and all the staff which is working in similar level would be evaluated no differently. * We fully try to protect the natural environment and resources while carry on our duties. * We are looking for a fair share of income, no more or less. an. Our Mission †¢ To provide a wholesome dining experience, with Top Quality food, healthy and a staff that wants to exceed the CUSTOMERS expectations!! Our Vision †¢ To maintain a profitable operation that will continue our TRADITION of Quality Family dining, at a reasonable cost, in a comfortable atmosphere, with exceptional service. Our Values †¢ We are in business to meet our customer’s needs. †¢ We believe in empowering our staff to resolve customers concerns on the spot. We treat our employees as we want them to treat our customers. †¢ We believe in continuing our Family Tradition. †¢ We believe in you the customer, and by this tradition we will continue to make a reasonable profit, that will allow us to remain competitive, healthy, community involved, and a Family Restaurant where generation will continue to gather. †¢ We seek your comments, for we realize to exceed your expectations, we need to know what they are. †¢ Your safety, health, comfort, nourishment and Quality Service are Number â€Å"One† to US!!!

Blackwater: The Rise of the World’s Most Powerful Mercenary Army by Jeremy Scahill

The book under consideration, Blackwater: The Rise of the World's Most Powerful Mercenary Army, has been written by Jeremy Scahill. The author of this book has presented a very hard-left perception on Blackwater USA, which has proclaimed itself, to be a contractor of private military as well as a security firm.Blackwater USA, according to the author owes its subsistence, reduction of the U.S. armed forced after the Cold War and it owes it’s well-being to the addition in the number of these forces after the tragedy of 9/11 and it further owes it’s disrepute to the fact that it has gained a reputation of being a mercenary setup which has the tendency to finish off the limitations on the army systems that are accountable to state power. Main Theme of the BookIn his well-known book, Blackwater: The Rise of the World's Most Powerful Mercenary Army, the author Jeremy Scahill puts forward information about the Bush Administration as well as its rising reliance on private secur ity forces such as Blackwater USA in particular and the efforts in Congress so as to bring them in. Through his book, the author has exposed the truth behind Blackwater the mercenary firm and the dangers that it brings about because of the outsourcing the government’s domination that it has on the use of force over people.The author of the book has described the growth of Blackwater, since the very beginning with respect to its organizational and instructional functions to what has now turned into a battle position serving as an interior security force in Iraq. In the words of the author, â€Å"Meet Blackwater USA, the powerful private army that the U. S. government has quietly hired to operate in international war zones and on American soil. This is the unauthorized story of the epic rise of one of the most powerful and secretive forces to emerge from the U. S. military-industrial complex† (Scahill, front cover).The book puts forward citations from representatives of the company according to whom Blackwater has the capacity to become so large that it can readily supply brigade-sized forces for civilized reasons, such as matters of maintaining peace as well as low-level disagreements. At the same time as placing emphasis on the likelihood of an a very daring President, who had the courage to take up the services of the mercenaries of Blackwater clandestinely, the author underrates the consequence of exposure on the deniability that he considers as crucial for happenings like these.Debatably, he also negates and that too in a very light manner the image of Blackwater which has now come down to a sort of reputable successor to a long and praiseworthy custom of indenture soldiering. Eventually, Blackwater as well as its other less famous equivalents flourish not just because of a neoconservative plot in opposition to the democratic system, as the author pronounces, but for the reason that they present comparatively low-priced substitutes and options in surroundings that have higher budgets as well as litheness at a time when war is progressively more erratic.The book presents to us the truth about Blackwater as well as its actions along with information about its rise as well as an account of the streets of Fallujah, to the bloodshed taking place in Najaf as well as the US gulf wrecked with storms and Washington DC, where higher authorities of Blackwater continue to be considered heroes fighting the war on terror. The book says that the resistance of the Iraqi people is perhaps the fault of the American soldiers themselves. According to the book, â€Å"the ensuing slaughter by U. S. troops would fuel the fierce Iraqi resistance that haunts occupation forces to this day† (Scahill, front page).Conclusion In the light of the above discussion we can hereby culminate that the book under consideration namely Blackwater: The Rise of the World's Most Powerful Mercenary Army was written by Jeremy Scahill. In this book, the autho r puts forward the truth about Blackwater as the rising most powerful mercenary army as well as the way by which the Bush administration hired it secretly and the problems that it poses. Works Cited Scahill, J. Blackwater: The Rise of the World's Most Powerful Mercenary Army. United States of America. Nation Books. ISBN-10: 1560259795. Pg 1, front cover