Iran-contra affair

Iran-contra affair Iran-contra affair, in U.S. history, secret arrangement in the 1980s to provide funds to the Nicaraguan contra rebels from profits gained by selling arms to Iran. The Iran-contra affair was the product of two separate initiatives during the administration of President Ronald Reagan . The first was a commitment to aid the contras who were conducting a guerrilla war against the Sandinista government of Nicaragua. The second was to placate moderates within the Iranian government in order to secure the release of American hostages held by pro-Iranian groups in Lebanon and to influence Iranian foreign policy in a pro-Western direction. Despite the strong opposition of the Reagan administration, the Democratic-controlled Congress enacted legislation, known as the Boland amendments, that prohibited the Defense Dept., the Central Intelligence Agency (CIA), or any other government agency from providing military aid to the contras from Dec., 1983, to Sept., 1985. The Reagan administrati on circumvented these limitations by using the National Security Council (NSC), which was not explicitly covered by the law, to supervise covert military aid to the contras. Under Robert McFarlane (1983â€"85) and John Poindexter (1985â€"86) the NSC raised private and foreign funds for the contras. This operation was directed by NSC staffer Marine Lt. Col. Oliver North . McFarlane and North were also the central figures in the plan to secretly ship arms to Iran despite a U.S. trade and arms embargo. In early Nov., 1986, the scandal broke when reports in Lebanese newspapers forced the Reagan administration to disclose the arms deals. Poindexter resigned before the end of the month; North was fired. Select congressional committees held joint hearings, and in Dec., 1986, Lawrence E. Walsh was named as special prosecutor to investigate the affair. Higher administration officials, particularly Reagan, Vice President Bush , and William J. Casey (former director of the CIA, who died in May, 1987), were implicated in some testimony, but the extent of their involvement remained unclear. North said he believed Reagan was largely aware of the secret arrangement, and the independent prosecutor's report (1994) said that Reagan and Bush had some knowledge of the affair or its coverup. Reagan and Bush both claimed to have been uninformed about the details of the affair, and no evidence was found to link them to any crime. A presidential commission was critical of the NSC, while congressional hearings uncovered a web of official deception, mismanagement, and illegality. A number of criminal convictions resulted, including those of McFarlane, North, and Poindexter, but North's and Poindexter's were vacated on appeal because of immunity agreements with the Senate concerning their testimony. Former State Dept. and CIA officials pleaded guilty in 1991 to withholding information about the contra aid from Congress, and Caspar Weinberger, defense secretary under Reagan, was cha rged (1992) with the same offense. In 1992 then-president Bush pardoned Weinberger and other officials who had been indicted or convicted for withholding information on or obstructing investigation of the affair. The Iran-contra affair raised serious questions about the nature and scope of congressional oversight of foreign affairs and the limits of the executive branch. See B. Woodward, Veil (1987); T. Draper, A Very Thin Line (1991). The Columbia Electronic Encyclopedia, 6th ed. Copyright © 2012, Columbia University Press. All rights reserved. See more Encyclopedia articles on: U.S. History

Theoretical Perspectives of Race and Ethnicity - 757 Words

Theoretical Perspectives of Race and Ethnicity Rebecca Spain ETH/125 April 4th, 2010 Melissa Terrell The three sociological theoretical perspectives of race and ethnicity are the functionalist, conflict, and labeling perspectives. The functionalist perspective is the perspective that shows how parts of society work in a structured manner to keep the survival of a society. The belief is that if a certain part does not contribute to society’s survival in an effective manner that it will not move form one generation to the next. (Schaefer, 2006). The conflict perspective is the perspective that society thrives on the conflict and struggles between social groups that compete against one another. The struggles and disputes mainly†¦show more content†¦(Schaefer, 2006). The minorities in the labeling perspective seem to be stereotyped and discriminated against. The dominant group has the upper hand and will persevere when conflict arises because of their social status, racial and ethnic group. These certain groups that are being discriminated against may lose out o n participating in certain events, activities, or jobs. These negative stereotypes can eventually lead to the social norm and can have a negativeShow MoreRelatedGender Stratification : The Classification Of People Based On Their Biological Features984 Words   |  4 Pagesat work that is needed to truly get ahead in the most competitive situations. Very few of us accurately describe the difference between ethnicity and race, simply because we define them as the same. While the meaning of both words can appear very similar, there are differences. Ethnicity is not just a person’s race. Ethnicity is about tradition, learned behavior and customs. 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Some of the earliest and most influentialRead MoreChallenges Faced By Ethnic Minority Supervisors1216 Words   |  5 Pagesin educational research) to help me better understand the cross-cultural supervision and different challenges supervisor’s face in cross-cultural supervision. These courses helped me to look into how ethnicity and clinical supervision are related at a much deeper level, and how same/different ethnicity of supervisors and supervisee affect the supervision process. The UF doctoral program has given me a unique opportunity to supervise many supervisees from cultures (Chinese, Taiwanese, HispanicRead MoreNursing Theory : Transcultural Nursing Theories1168 Words   |  5 Pages Nursing Theory: Transcultural Nursing Theory Raymonde Alphonse Miami Dade College Nursing Theory: Transcultural Nursing Theory General Perspective to the Nurse, the Patient, the Environment, Health, Illness, and Wellness Transcultural nursing theory by Madeleine Leininger has general perspectives to the nurse, patient, environment, health, illness, and wellness. According to the caregivers, transcultural nursing theory by Madeleine Leininger is one of the most effective philosophies onRead MoreSilk Saris And Mini Skirts : South Asian Girls Walk The Tightrope Of Culture1659 Words   |  7 PagesTightrope of Culture by Handa is about how the issues of race, ethnicity, and culture revolves around the lives of the South Asian women living in Canada. It is not only about how those specific issues affect their lives but also the impact of influence that others have on their lives. In the following book report, I will discuss the three main issues that the South Asian women face, the arguments that Handa makes, the theoretical perspective, the different methodologies used in the book, the styleRead MoreMy Goals As A Social Worker Practitioner1737 Words   |  7 Pagessurroundings that influence their deve lopment (Corey, 2013). Introduction In this paper I will address my personal theoretical orientation. My goal as a social worker practitioner, is to work with the diverse population of Cleveland, Ohio. I want to use my bilingual skills to better serve our community in the healthcare field. Learning about the different theoretical approaches helps a social worker to understand the importance of evidence based practice obtained through the scientific methodRead MoreSociological Theories Of Prejudice And Racism1645 Words   |  7 PagesSociological Theories of Prejudice and Racism Functionalist theory argues for race and ethnic relations to be functional and thus supply to the melodic conduct and strength of society, racial and ethnic minorities must assimilate into that society. Assimilation is a process by which a minority becomes socially, economically, and culturally absorbed within the dominant society. The assimilation perspective assumes that to become fully fledged members of society, alternative groups must adopt as muchRead MoreAnalysis of Oliviero Toscani’s â€Å"Tongues† Photo for United Colors of Benetton1362 Words   |  6 PagesTherefore, nowadays, the importance of vision is crucial to understanding, as we are surrounded by images at every step. In order to interpret the Benetton advertisement, some theoretical perspectives must be applied, because â€Å"facts are only facts in the context of some theory† (Barnard, 2001). Firstly, one of the theoretical frames that we believe is the most appropriate in this case is the one that considers the role of expression for understanding visual culture. This theory states that both the

Thomas W. Stewart, Inventor of the Wringing Mop

Thomas W. Stewart, an African-American inventor  from Kalamazoo, Michigan, patented a new type of mop (U.S. patent #499,402) on June 11, 1893. Thanks to his invention of a clamping device that could wring water out of the mop by using a  lever, floor cleaning was not nearly the chore it once was. Mops Through the Ages Throughout much of history, floors were made out of packed dirt or plaster. These were kept clean with simple brooms, made from straw, twigs, corn husks, or horse hair. But some kind of wet cleaning method was needed to care for  the slate, stone, or marble floors that were a feature of the homes of the aristocracy and, later, the middle classes. The word mop goes back probably as far as the late 15th century, when it was spelled mappe in Old English. These devices were likely nothing more than bundles of rags or coarse yarns attached to a long wooden pole. A Better Way Thomas W. Stewart, one of the first African-American inventors to be awarded a patent, lived his whole life trying to make peoples everyday lives easier. In order to save time and ensure a more healthy environment in the home, he came up with two improvements to the mop. He first designed a mop head that could be removed by unscrewing it from the base of the mop handle, allowing users to clean the head or discard it when it wore out. Next, he designed a lever attached to the mop head, which, when pulled, would wring water from the head without users getting their hands wet. Stewart described the mechanics in his abstract: 1. A  mop-stick, comprising a stick proper, provided with the T-head having the grooved ends, forming one portion of the clamp, the rod having a straight portion forming the other part of the clamp and from thence converging rearwardly to the sides of the stick, a lever to which the free ends of said rod are pivoted, a ring loose on the stick, to which the forked ends of the lever are pivoted, and a spring between said ring and the T-head; substantially as set forth. 2. The combination of a mopstick provided with a T-head, forming one part of the clamp, a moveable rod forming the other part of the clamp, a lever to which the free ends of said rod are pivoted, said lever being fulcrum-ed to a moveable support on the stick, and a spring exerting a resistance against the lever when the latter is thrown back; substantially as set forth. Other Inventions Stewart also co-invented with William Edward Johnson an improved station and street indicator in 1883. It was used with railways and cars on the street to signal what road or street the vehicles were crossing. Their indicator would automatically activate a signal by means of a lever on the side of the track. Four years later, Stewart invented an improved metal-bending machine that was able to oscillate.

Acids Free Essays

Acids are very corrosive substances that can break down materials easily. The higher acidity obtained by a substance, the faster it is able to decompose another material. In order to determine the acidity of certain substances, a pH scale is used. We will write a custom essay sample on Acids or any similar topic only for you Order Now On this scale, numbers one to fourteen are placed. Fourteen would represent an increased amount of alkalinity rather than acidity. Seven is a neutral zone, and one would be an increased amount of acidity rather than alkalinity (USGS, 2016). Figure 1 shows how the scale works and a select few substances that obtain different pH values. These values range from 14 to 1. The greater acidity of a substance, the more pernicious it is. The lower acidity of a substance, the less corrosive it becomes. In order to determine the perniciousness of a material, a pH scale is used. Testing strips help determine this. A pH testing strip is a piece of paper that is used to measure the molar concentration of hydrogen ions to determine the acidity or basicity of a substance (GSU, 2000). The use of pH testing strips supply plentiful information when trying to find the pH of a substance.Figure 1: Standard pH Scale (BIOL 1406)Soft DrinksStudies have provided information that many of commercially sold soft drinks in the United States are extremely corrosive with a pH of 4.0 or lower. The average dissolution of tooth structure begins at 4.0 (Zhejiang University, 2009). Thus stated, these soft drinks have a detrimentally high erosive potential and are able to cause dissolution. The soft drink Pepsi has a pH of 2.37. Orange Crush maintains a pH of 2.87. Dr. Pepper reveals a pH of 2.88. Country Time Lemonade shows a pH of 2.57, and Coca Cola contains a pH of 2.39 (Reddy, et. Al., 2015). Pepsi has the lowest pH of these select soft drinks, so it has the highest acidic level, whereas Dr. Pepper has the highest pH. Concluding this, Pepsi is the most corrosive substance, and Dr. Pepper is the least corrosive. Since the dissolution of calcium begins at 4.0, every soft drink used in this poll is of great detrimental damage. The erosive potential of each drink has a great effect on structures such as enamel. The fastest dissolution would begin with Pepsi, Coca Cola next, then Country Time lemonade. After lemonade, Orange Crush, and finally Dr.Pepper.Calcium And DissolutionCalcium is a mineral that supplies the main structure and hardness for bones and teeth. (Goldblatt, et. Al, 2016). It is also the backbone of eggshells, for the protective coating around the egg is made of calcium carbonate. The calcium differences between tooth enamel and eggshells are very closely related. They are not the same, but in comparison, their properties correspond very well. Enamel consist of minerals that help protect the tooth. This is the same for eggshells. Eggshells are a protective coating for the egg. Yet, while tooth enamel contains calcium phosphate, eggshells contain calcium carbonate (University of Illinois, 2016). Eggs appear to be the best direct comparison to find closely related results. If a soft drink can decompose an eggshell in a certain amount of time, it should likewise be the same for enamel, just a bit more complicated because of the excess mineral makeup that makes teeth a stronger substance. The calcium carbonate and the soda are the true reactions. It’s not so much the egg as a whole, or the soda as a whole, it is how they act amongst each other when combined. The acidic drink is eligible to break down calcium levels because of the reaction between the substances. Enamel begins to increasingly dissolute inversely to the increase of pH. As the pH lessens, the more dissolution is caused ( Larsen, 1999). Soda contains many different levels of sugary and acidic values that cause a much faster dissolution, and cause erosion. Using a demonstration of teeth submerged in an acidic liquid for a week is close to a life time span of drinking soda throughout several years. This is understandable because the structure is submerged inside the liquid at all times, not just frequent periods (Swains, 2007). How Dissolution in Enamel Works Because of the high phosphoric acid content in carbonated drinks, they are seemingly low on the pH Scale. Low pH levels are extremely acidic and remineralize particles in tooth enamel. Dissolution causes dental problems over time. Some of these painful diseases are caused by soft drinks. Some common issues seen amongst people that have a diet containing soda everyday are more susceptible to caries, osteoporosis, attrition, and abstraction(American Dental Association, 2000). The phosphoric acid and sugar compounds create a massive build up against bone structure. Although enamel is strong and sturdy, dissolution begins at surroundings of a 4.0 pH, so it doesn’t hold up forever. Carbonated drinks are said to be just as bad as non diluted vinegar, but because of all of the sugars and artificial flavoring, the drinks do not seem as bad. In fact, some carbonated drinks are of a lower pH than vinegar on the pH scale( Austin Community College). The initial purpose of this experiment was to enhance the knowledge of what drinks can decompose calcium the fastest due to specific levels of acidity.Discussion True dissolution did not seem to begin until after the first week. In comparison to a life span, one week is a reasonable amount of time before decay because 1 week is a regular sitting of soda over a 3 year time span. It is known that dissolution does not begin right away, more so it is the long term effects after something has been done repeatedly. (Swains, 2007) The eggshells had absorbed the colors of the drinks. This was very intricate because the soft drink seemed to appear disoluted, whereas the egg had pertained the saturation of color. In comparison, teeth absorb the color of drinks and stain after a while. Of course this is not shown right away, but as stated previously, the time frame in which the eggs soak is an approximation of almost thirteen years of drinking that drink regularly. This is a valid point as to why the egg had such a large discoloration; it was because it absorbed the color it was surrounded by (W3C, 2006). The acidic drinks used had a detrimental change on the eggshells. The mass of the eggs decreased sufficiently and distinctively. When touching the shell, it was fragile, and the drinks were so corrosive that the shell itself was stripping into thin sediment. Pieces of the shell were flaking off. Soft drinks have such a high phosphoric acid content which leads to extreme reductions of calcium. Reductions of calcium lead to weak and fragile structures. Pepsi Eggs that had been submerged in Pepsi were sticky and had a brown overtone to them. These eggs had gone through the most dissolution throughout the 4 week timespan. This makes sense when understanding that the most acidic substance used was Pepsi. Pepsi has a very low pH balance which causes such an extreme amount of dissolution. The more acidic a substance is, the more corrosive and efficient it is when eroding. With a pH of 2.37, it is easy to tell that the substance has a high acidic ranking which is a detrimate factor in erosion. The net total dissolution caused by the soft drink Pepsi was .847g. Pepsi is a Cola product so the assumption was that it would have taken a toll like Coca Cola did, but it turns out it was a lot harsher on the eggs than Coca Cola was. Frankly, It was approximately double the damage. The American Dental Association provides information on Cola products and the way they affect bone structure. Cola products are said to be a significant cause of damage to the bones which explains why the eggshell had dissoluted so quickly in Pepsi. But why not the same for Coca Cola too? This is where the phosphoric acid in Pepsi was higher than in Coca Cola. Pepsi had a lower pH, so it was more corrosive afterall ( American Dental Association, 2000). Orange Crush Eggs that were submerged in Orange Crush had many interesting effects to them. The most interesting was that the egg shell had gained the saturation of the drink whereas the drink diluted to almost a complete clear color. Although this occured, it did not have a great amount of dissolution as expected. Orange juice is very acidic, but because there was a use of mainly carbonated sodas, Orange Crush seemed like the next best comparison. There was not as much damage as expected after all with only .359g disoluted total. It is still a great amount of dissolution, but not as much as the Cola products and Country Time Lemonade. Orange Crush obtained the second lowest pH of all the substances( American Dental Association, 2000). Although the phosphoric acid was lower than most of the solutions, Dr. Pepper still had the lowest pH and phosphoric acid level of all. Nonetheless, Orange Crush still contains a low pH, phosphoric acid, and is eligible to be abrasive to structure. The acids present take on considerable influences of demineralizing and causing attrition in structures( Johansson, et Al. 2012). Dr. Pepper Eggs that were submerged in Dr. Pepper were sticky and obtained a similar brown color like the eggs submerged in Pepsi. The solution had made a sort of gooey protection around the egg much like Pepsi had. By the fourth week each egg was completely brown and the shell was softened making it substantially weaker than the first week. Although the shell was weak. Eggs submerged in Dr. Pepper had the least dissolution amongst every soft drink. Considering the pH of Dr. Pepper is the highest, at just 2.88,and it obtains the least acidic makeup; this is of validation. Although, Dr. Pepper contains a higher sugar concentration than most drinks. This partakes a great roll in the occurrence of dissolution too. Sugary drinks affect dissolution as much as acid concentration, so there was still a great potential of attrition to occur over the four week time period(Ophardt, 2003). When calculating the average dissolution amongst all of the soft drinks, Dr.Pepper did appear to have the lowest in dissolution. The net total was .243g. This is a smaller number compared to the rest of the soft drinks, yet nonetheless it is still an amount of dissolution. Concluding this, it is still a corrosive substance also. These acid and sugar contents are detrimental to structure(Thompson, 2016).Country Time Lemonade Eggs that were submerged in Country Time Lemonade contained a very gritty texture and the shell was flaking off into small pieces that were brittle and thin. The Country Time Lemonade had also bleached the eggshell. By the fourth week, the eggshells had been brightly shining as a pure white, whereas when the eggs first began they were dull and had very light grey spots in select places. Some pieces of the shells were gone and the inside was preserved like a coating of yolk that was rubbery. Although brittle and frail, the most dissolution was not caused by Country Time Lemonade. The net total dissolution had actually fallen directly in the middle of all soft drinks. The total abrasion of the eggs submerged in Country Time Lemonade amounted .369g. Although a smaller amount than Coca Cola and Pepsi, there was still a substantial amount of dissolution amongst these eggs over all( American Dental Association, 2000). One of the biggest factors that Country Time Lemonade is eligible to sustain such a great dissolution is because of the acid in lemons/ lemon juice and the amount of sugar added to this solution. As well as the low pH balance of 2.57. A considerable amount of dissolution occurs under these conditions(Ophardt, 2003). Coca ColaEggs submerged in Coca Cola had the second highest erosive potential amongst this set of carbonated drinks. Much like the ending results of Dr. Pepper and Pepsi, Coca Cola also had the same sticky coating around its shell and the discoloration of the egg was brown as well. The solution was gooey just as Dr. Pepper and had a very soft texture to it. The shell was mushy and turned very fragile over each week. By the fourth week, the eggs submerged in Coca Cola were just completely mushy and didn’t have stability to them at all, whatsoever. Cola products are severely detrimental to structures. They cause a critical dissolution amongst structures, in this case eggs. Coca Cola is said to be significant in causing bone damage. Coca Cola and Pepsi are both products of Cola, but Coca Cola had a lessened effect on the eggs. The phosphoric acid and sugar contents contained in the soft drink Coca Cola were less than in the solution, Pepsi. Through the comparison of Cola products, it was engrossing to see which would substance had the greatest effect. Originally, it was thought that Coca Cola would cause the most dissolution because it is such a strong acidic drink and had a high sugar content. Needless to say, this wasn’t the case, and Pepsi’s acidic content was higher; thus leading it to have a lower pH. Although Coca Cola did not have a significant amount of dissolution compared to Pepsi, it still ranked number two out of five. With a dissolution of .447g over the 24 day span, Coca Cola provided the second most decrease( American Dental Association). With a pH balance of and a high sugar content, Coca Cola was able to gain second, yet Pepsi still has Coca Cola beat.In conclusion, the carbonated drinks presented in this essay have provided a true presentation of how the dissolution of eggshells resemble the abfraction and attrition of tooth enamel( Fraunhofer, 2006).These drinks are hard on enamel. The effects stay for a lifetime, and can cause many problem areas. Carbonated drinks cause lesions, caries, and can even cause osteoporosis in actual bone structures by draining the calcium levels in your body. The effects of these soft drinks are not kind on the body. Consuming these acidic substances sets up a lifetime of problems that make you much more susceptible to enamel decay. It is okay to drink these drinks, but it is a must to do it in a moderate way. These substances contain such high acidic levels that cause demineralization in enamel. The phosphorus content of soft drinks can even limit the calcium absorption which can lead to bone loss due to diseases such as osteoporosis(American Dental Association). Some carbonated drinks affect erosion a lot less than others, but this does not add limitations; for these carbonated drinks are still detrimental to one’s health. Between soft drinks, Pepsi is definitely the most detrimental of all, and Dr. Pepper is the least detrimental. If carbonated soft drinks are a want, or need, this poll provides a considerate amount of information as to why Dr. Pepper would be the best option. It is still unhealthy and can cause erosion, but of the drinks, it seems to be the best option. Eggs provided a great substitute for teeth in this project. The two structures have so many common features that made it a lot easier to make a comparison. The limitations of calcium absorption played a huge part in creating this project(Texas University, 2016). The final data was fascinating to compare. The results were not the same as the hypothesis, but that made the final results the most riveting of all. How to cite Acids, Papers

Managing Human Resources Employees Motivation

Question: Discuss about theManaging Human Resourcesfor Employees Motivation. Answer: Introduction A companys overall success depends on employees motivation to work. An employee with the high level of motivation delivers high performance. Also, every worker wants their efforts to be recognised. Mc Donalds Corporation, which is recognised as largest fast food restaurant implements various strategies to motivate and retain its employees such as rewards and recognition scheme. In the context of the given case study, the essay discusses how the recognition scheme supports McDonald's culture and attracts future leaders. It also discusses the theories supporting this scheme. The essay further highlights that why this recognition scheme cannot be applied to the workers in the non-profit organisation. Mc Donald develops its future leaders with its strong culture. It has built a culture of focusing on people through recognition scheme. The high return on investment is due to its investment in people which is reflected in the high quality customer service, better run operations, cleanliness and quality product (Bartlomiejczuk, 2015). This culture is supported by the recognition scheme of McDonald. It is this power of recognition that helped the company to win outstanding achievers award at the corporate level. The company conducts formal annual events as well as develop programs that operate at both corporate and restaurant level. The company has the program for recognising its crew members for their best performance. The employees with significant contribution are nominated by the senior managers and are in turn approved by the senior management team. Employees are motivated by formally recognising them in from of their peers at the bi-annual staff meeting. The employees are awarde d gift voucher of $500 or are recognised as the employee of the month (Karin et al., 2014). Thus, this recognition scheme supports the companys strong recognition culture. This recognition scheme according to L?z?roiu (2015) is fresh and exciting. Introducing appealing schemes for employees the key to maximising the employee's motivation. Azeem (2016), stated that the employee of the month scheme introduce by McDonald into itsOlympic Champion Crew (OCC) initiative has won Most motivational benefits at the Employee Benefits Awards 2013. It can be argued that the recognition scheme is supporting the companys culture that is underpinned by strategies People, products, place, price and promotion. When the employees are appreciated they perform beyond what is expected of them and in turn becomes more productive. Consequently, it may decrease the staff turnover and increase their retention. This scheme attracts future leaders because the employees feel that their hard work is valued. Moreover, this tiny act does not cost huge but give lasting impact such as the increase in staff morale, loyalty, and build supportive work environment (Shields et al., 2015). B ased on the survey conducted on the managers of McDonald, it was found that most of them feel that there are favourable career opportunities and hence support the training and development programs. The culture in McDonalds is highly prevalent as an extrinsic element for creating the motivating work environment for the employees (Emerson Prang, 2016). Hence, such policies and scheme promote a strong team spirit which helps in attracting and maintaining a pool of potential leaders. However, there is also a flipside to this recognition scheme. According to Emerson and Prang (2016), there is a risk of allegation and favouritism when the management selects an employee for recognition. Azeem (2016), argued that this scheme may lead to fractions and discords within the workforce. It has negative implications if members of the same family work together in a company. That may lead to interpersonal conflicts breaking the company's strong culture. Further, by limiting the employee recognition to one occurrence per year may stifle the willingness of the employees to continuously strive for excellence. Also, the lack of funds may turn the employee recognition scheme unproductive. For example, an employee who has managed to increase the number of customer in the store and maximised the productivity does not deserve a simple computer generated the certificate or $500 which the employee end up spending too soon. Therefore, cash is not always the best idea. Instead, the recog nition program should be fair about the potential in each employee and must be based on the job duties. Bartlomiejczuk (2015), suggested team wise or group rewards are better than the individual rewards for building strong team spirit. Though the rewards scheme allows deciding the pay package for the employees, it is not prudent, and it should come during the performance review time else it may cause dissension among the employees. McDonalds recognition scheme can be supported by the Expectancy theory. According to Purvis et al. (2015), the expectancy theory or the process theory proposes that the work motivation depends on the association between the performance and the outcomes. An employee thus modifies his or her behaviour based on the anticipated outcomes circulated in the company. It means that if a person is performing to a particular level, it is because of the leaders in the workplace who has created motivational programs. According to the Expectancy theory, an individual is motivated due to three variables including "expectancy, instrumentality and valence" (Miner, 2015). Expectancy refers to the belief that performance will increase with increased effort. Instrumentality refers to the belief that valued outcome can be achieved by performing well. Valance refers to the value that individual places on the expected outcome (Bridger, 2014). Thus, if an employee is expecting and believes that his desires will be fulfilled in the form of reward, then it is sure to improve his motivation. Therefore, the expectancy theory is the foundation for the leaders to build the better understanding of ways to motivate the subordinates (Nadolny Ryan, 2015). Bartlomiejczuk (2015) argued that this theory is the process theory of motivation because it is due to the personal expectation that emphasises the staffs perception of the environment which consequently leads to subsequent interactions. An advantage of expectancy theory is that it is not about the self-interest in recognition and rewards rather about the associations made by the people towards expected outcome and the contributions they are willing to make towards that outcome. Therefore, this theory supports the recognition scheme of McDonalds. However, expectancy theory may not always support the recognition scheme. The theory assumes that it is the conscious choices among the alternatives with the purpose to minimise the pain and maximise the pleasure that gives rise to the particular behaviour (Povod et al., 2016). This assumption was argued by many authors. Since the theory works on perceptions, it may not imply for every individual. It is not necessary that every individual will perceive the benefits to be enough for their motivation (Bang et al., 2012). For example, if an individual places the high value on money, then it is highly likely that the individual is motivated by monetary benefits. In such case, offering any other rewards to that person may not motivate him or her. Therefore, other offers given during recognition such as additional holidays, $500 or just a trophy may not satisfy the individual. Some of the researchers have argued that monetary rewards may increase extrinsic motivation where rewards are cont rolled by the external source. However, it may decrease the intrinsic motivation which naturally flows from the interesting work itself. McDonalds recognition scheme can also be supported by Adams equity theory. According to this theory a fair balance should strike between the employee's input and output to enhance work motivation. Input refers to employees hard work, skills, efforts whereas output refers to rewards and recognition (Al-Zawahreh Al-Madi, 2012). An employee is motivated if efforts given in the work are justified through benefits given by McDonald's. However, it may not always happen in an organisation. The perception of the employee and the mangers may not be same. For example, If McDonalds offer $500 to an employee it may not be justified if the staff member has worked hard enough to be paid more than this amount. An employee maybe demotivated if his ratio of input and output is less than the ratio of other employees giving same effort. It may appear as unfair treatment of the workers and their efforts causing demotivation ad burnout. Thus, this theory of motivation is applicable if McDonalds emphasis es on fairness that is the ratio of input and output rather than just recognising the performance. The McDonalds approach to management of human resources may not be directly applicable to the not-for-profit organisations such as Spastic Centre. The primary challenge for the leaders and managers in not-for-profit organisations include raising financial resources (Bang et al., 2012). These organisations implement the range of tactics for fundraising. The workers in this sector compete with those in profitable organisations but with financial incentives constraints. These organisations, therefore, recruit individuals who are highly motivated and excel in their performance. The individuals recruited are high qualified and are not dependent on monetary benefits. Their motivation is thus based on nonmonetary and humane goals. In the non-profit organisation, Hackman and Oldhamsjob characteristics model is dominant (Akingbola, 2013). It means that a workers motivation for the job is higher if it includes responsibility for the outcome of work, job meaningfulness, andawareness. The main i ntrinsic motivation for the work is job meaningfulness. The leaders thus motivate the workers using tools such as confidence, autonomy, and achievement. This refers to McGregors motivationTheory Y (?ahin, 2012). This is in contradiction with the rewards and recognition scheme followed by McDonald's and is deemed necessary for employee motivation. In the non-profit organisation, employees are self-motivated thus an external source of motivation is not necessary when compared to employees in for-profit organisation. This also refers to the stewardship theory of unquantifiable intrinsic motivation (Miner, 2015). The culture in the non-profit organisation is prevalent as a concept of empathy and association. In these organisations, there exist a relationship of loyalty, integrity, morale, and aspirations. Thus, there is a difference in the approaches of human resource management of the profit and the non-profit organisation. The former uses the external source to motivate employees whereas the later uses tools to strengthen inner motivation to work. There is a difference in the attitude of the workers in both types of organisation. In the non-profit organisation, the workers have the high level of social commitment, and the motivation is rooted in their altruistic attitudes. This attitude stems from the value based perspectives (Park Word, 2012). Therefore, McDonalds approach to employee motivation cannot be directly applied here as it gives external rewards whereas the pattern of motivation in non-profit employees is different. They do not tend to deliver high performance or gain greater satisfaction when offered external rewards. For them, the mission is an incentive and the vision and values of the organisation itself influence the level of motivation among the non-profit employee s (Akingbola, 2013). Agency theory is applicable in some non-profit organisations. This theory focuses on the stakeholders of the organisation and their divergent goals and interests. These interests and goals are aligned using employee compensation. This theory is relevant in compensation design. This theory refers to a system in the organisation where one or more individuals called principals hire agents for performing certain tasks and delegating decision making authority (Bernstein et al., 2016). It is advantageous because it explains different level of obedience. It leads to Agentic state since the agents work more when the orders are given with more authority. Thus it causes an agent to sometime work against their will which may affect the motivation. However, some non-profit organisations are offering their agents an incentive contracts. The agents payment depends on the value of the outcome for the principal. The outcomes of the agents are measurable, quantifiable and observable. The incentive is designed by the principal if the agent exhibit loyalty and honesty at work which in turn motivate others agents, to tell the truth (Van et al., 2016). The research findings showed that employee motivation is an essential factor irrespective of the type of organisation. It can be concluded that though profit and non-profit organisations have distinctions, both sectors needs to emphasise on their service mission to attract and retain employees who value the unique rewards offered for working in these sectors. However, organisations like McDonald's need to devise ways to capitalise on the employees distinctive desire for advancement. On the other hand, the not-for-profit organisations must come up with creative ways to be flexible with volunteers motivation and their commitment. References Akingbola, K. (2013). A model of strategic nonprofit human resource management.Voluntas: International Journal of Voluntary and Nonprofit Organizations,24(1), 214-240. Al-Zawahreh, A., Al-Madi, F. (2012). The utility of equity theory in enhancing organizational effectiveness.European journal of economics, finance and administrative sciences,46, 158-170. Azeem, S. (2016). Drivers of Employee Motivation: Mediating Role of Job Satisfaction. Bang, H., Ross, S., Reio Jr, T. G. (2012). From motivation to organizational commitment of volunteers in non-profit sport organizations: The role of job satisfaction.Journal of Management Development,32(1), 96-112. Bartlomiejczuk, G. (2015). How do Recognition Programs Impact Employee Engagement and How have Companies with a Large Global Footprint Structured such Programs to Drive Results?. Bernstein, R., Buse, K., Bilimoria, D. (2016). Revisiting Agency and Stewardship Theories.Nonprofit Management and Leadership. Bridger, E. (2014).Employee engagement(Vol. 10). Kogan Page Publishers. Emerson, L., Prang, Y. (2016). Compensation and Benefits: Company-Provided Benefits at McDonalds. InHandbook of Human Resources Management(pp. 939-950). Springer Berlin Heidelberg. Karin Andreassi, J., Lawter, L., Brockerhoff, M., J. Rutigliano, P. (2014). Cultural impact of human resource practices on job satisfaction: a global study across 48 countries.Cross cultural management,21(1), 55-77. L?z?roiu, G. (2015). Employee Motivation and Job Performance.Linguistic and Philosophical Investigations, (14), 97-102. Miner, J. B. (2015).Organizational behavior 1: Essential theories of motivation and leadership. Routledge. Nadolny, A., Ryan, S. (2015). McUniversities revisited: a comparison of university and McDonald's casual employee experiences in Australia.Studies in Higher Education,40(1), 142-157. Park, S. M., Word, J. (2012). Driven to service: Intrinsic and extrinsic motivation for public and nonprofit managers.Public Personnel Management,41(4), 705-734. Povod, E. A., Roldugina, A. E., Dmitrienko, N. A. (2016). Analysis and Oppurtunities of Innovations in restaurant Business"Mcdonalds (as an example). , 59. Purvis, R. L., Zagenczyk, T. J., McCray, G. E. (2015). What's in it for me? Using expectancy theory and climate to explain stakeholder participation, its direction and intensity.International Journal of Project Management,33(1), 3-14. ?ahin, F. (2012). The mediating effect of leadermember exchange on the relationship between Theory X and Y management styles and affective commitment: A multilevel analysis.Journal of Management Organization,18(02), 159-174. Shields, J., Brown, M., Kaine, S., Dolle-Samuel, C., North-Samardzic, A., McLean, P., ... Plimmer, G. (2015).Managing Employee Performance Reward: Concepts, Practices, Strategies. Cambridge University Press. Van Puyvelde, S., Caers, R., Du Bois, C., Jegers, M. (2016). Managerial objectives and the governance of public and non-profit organizations.Public management review,18(2), 221-237.

International Expansion Strategy for BNP Paribas

Introduction The BNP Paribas group is a market leader in the banking industry with operations in over 75 countries. It has a strong presence in Europe, Asia, and North America, where it provides investment, commercial, corporate, and retail banking services. Retail banking covers direct banking services such as credit facilities and mortgages extended to individual customers.Advertising We will write a custom report sample on International Expansion Strategy for BNP Paribas specifically for you for only $16.05 $11/page Learn More The purpose of this report is to recommend an international expansion strategy for BNP Paribas. The report analyzes the macro-environmental characteristics of the Singaporean market, available opportunities and threats, and BNP’s strengths and weaknesses in respect to its international expansion strategy. Potential Target Market The Singaporean retail banking market has seen an accelerated growth over the past few years. The accelerated growth is projected to reach a value of $297bn by 2019 (MarketLine 2015). From 2010 and 2014, the market grew to a value of $228bn, averaging an annual growth rate of about 8%, which is higher than that of South Korea (MarketLine 2015). The significant growth rate has made the Singaporean retail banking market highly competitive in the Asia-Pacific region.  The key segments driving the Singaporean retail banking market include mortgage and customer credit. In 2014, mortgages were valued at $168bn, which was equivalent to 74% of the market (MarketLine 2015). In contrast, the credit segment was worth approximately $60bn, an equivalent of 26% of the market. In this view, BNP Paribas can leverage on its market leader position in retail banking to expand its mortgage and consumer credit services to the Singaporean market. Macro-environmental Characteristics of the Market Macro-environmental characteristics encompass the external factors that are not under the direct con trol of a firm. In this report, the PESTLE framework will be used as a model for analyzing the macro-environmental characteristics of the Singaporean retail banking market. Political Singapore enjoys a relatively stable political and governance landscape. The country’s competent leadership has favored competitive capabilities in many sectors, particularly the manufacturing industry. Singapore’s strict anticorruption policy has seen it being rated among the top five countries with the least corruption index globally.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More As a result, there has been an increased flow of foreign direct investments into the country in recent years.  Singapore has a thriving banking sector with strong liquidity levels. According to MarketLine (2015), the country’s regulatory body, the Monetary Authority of Singapore (MAS), requires tier 1 banks to maintain â€Å"capital ratios of above 9.0† (para. 8). In addition, the authority requires banks to observe the Base III capital standards on capital adequacy. Under this global regulatory framework, banks must maintain a mandatory â€Å"common equity ratio of 4.5%† to operate in Singapore (MarketLine 2015, para. 12). The strict regulations have ensured that banks maintain a high liquidity even when cash outflows are rising. Singapore has strict business regulations that guide foreign firms entering into its market. Any foreign firm is required to register as a limited company before being allowed to operate in Singapore. Furthermore, regulations enacted in 2007 stipulate that any private limited company must file annual returns with the country’s income tax department (MarketLine 2013). Thus, foreign companies operating in Singapore cannot keep their financial records confidential. Economic Singaporean economy is based on trade and manufacturing. It has a bu siness-friendly environment that attracts massive foreign direct investment inflows. The economy weathered the 2009 recession to grow at an annual rate of 14.7% in 2010 (MarketLine 2013). However, in 2011, the economic growth slowed to a low of 5.1% in response to the financial crisis experienced in the EU. The susceptibility of the Singaporean economy to external shocks is due to its openness to international firms and investors.  The country ranks third globally in per-capita GDP and has a relatively low tax regime (MarketLine 2015). The low tax rates make Singapore an attractive foreign investment destination. Singapore stands out as a financial hub in the Asia-Pacific region. Over 123 banks operate in the Singaporean economy with 117 of them being foreign (MarketLine 2015). Overall, the country’s economic landscape is highly attractive to foreign investment. Social Singapore ranks high in terms of literacy levels internationally. The Singaporean government’s expe nditure on education constitutes 3% of the country’s GDP with much of the funds going to elementary and secondary education (MarketLine 2013). In higher education, Singaporean institutions feature among the top 20 universities in the Asia-Pacific region.Advertising We will write a custom report sample on International Expansion Strategy for BNP Paribas specifically for you for only $16.05 $11/page Learn More Singapore’s population consists of a disproportionate number of the elderly. The high number of elderly population is caused by the country’s low birthrate of 10.8 births per 1,000 persons (MarketLine 2013). The growing elderly population coupled with the low birth rate will present financial and socioeconomic challenges to the government in the future. The unemployment rate stands at 1.8%, down from 2.2% in 2010 (MarketLine 2015). The low unemployment rate is due to the sustained economic growth in the country. Technology Singa pore’s technology landscape is characterized by a high mobile penetration of 156.6 per 100 persons (MarketLine 2015). The government’s ‘iN 2015 strategy’ aims to transform Singapore into a technology hub. Under this plan, the government plans to fund various programs geared towards stimulating the adoption of technologies such as e-health in the country. In 2012, Singapore score on patented technologies stood at 152.5 patents per million people, which was higher than that of France (82.5). Singapore has also invested in ‘e-learning’ and e-government to provide the requisite infrastructure for technological innovation. Legal Singapore’s legal environment is characterized by a low tax regime and strict regulations. According to MarketLine (2015), the country’s corporate tax, which stands at a rate of 17%, is among the lowest in the Asia-Pacific region. The government reduced the corporate tax by a percentage point to 17% in 2009, m aking it among the lowest in the region. The government has also reduced the duration it takes to register a business. It takes three days to register a new company compared to an average of 12 days it takes in other OECD nations (MarketLine 2015). Moreover, in the Asia-Pacific region, it takes an average of three weeks to start a new business. Thus, Singapore’s legal environment is favorable to the growth of business and industry. Environment Singapore’s environment policy focuses on energy efficiency. The country undertook to improve its â€Å"energy efficiency by 35% and recycling by 70%† by the year 2030 (MarketLine 2015). Singapore’s efforts to increase energy efficiency will reduce the cost of doing business in the country. However, the country faces many environmental challenges because most of its land mass lies near sea level. Therefore, its coastal areas are vulnerable to the effects of rising sea level because of its long coastline. The Key Str ategic Issues BNP’s strong position in its market segments is a source of competitive advantage. However, to be successful in the retail banking market in Singapore, the BNP Paribas group must leverage on its competitive advantages and strengths to take advantage of the market opportunities and business threats or challenges that characterize the external environment.Advertising Looking for report on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More Opportunities Mobile Payment Systems The Singaporean personal finance and mobile payment systems are key subsectors that offer opportunities for growth. BNP can venture into these two areas to increase its penetration into this market. In 2007, BNP launched a â€Å"mobile contactless payment system† in partnership with MasterCard (BNP Paribas 2015, para. 7). The multi-operator mobile solution, called Payez Mobile, brings retail banking services closer to the customers. BNP can capitalize on Singapore’s high mobile penetration, currently estimated to be 156.6 per 100 people, to penetrate the retail banking market.  Mobile solutions, such as Payez Mobile, that allow customers to manage their transactions can give the BNP a strategic advantage. Such solutions can increase the firm’s visibility in the retail banking market by allowing customers to withdraw or deposit funds in their accounts through their mobile devices. An integrated mobile solution that enables c ustomers to transact across different operators is another way BNP can penetrate and grow in the Singaporean retail banking market. Personal Finance Personal finance is replete with growth opportunities for new entrants. BNP already has a personal finance division that was started in 2007 in partnership with the UCB bank (BNP Paribas 2015). The BNP personal finance stands a good chance of tapping into the opportunities available in Singapore’s retail banking sector. Through the personal finance division, BNP can extend competitive credit facilities and mortgages to new clients in Singapore. According to BNP Paribas (2015), the group’s personal finance in the Eurozone is experiencing a double-digit growth, which is an indication that the bank has opportunities in the Singaporean personal finance sector. To gain a strategic advantage, BNP will need to utilize different platforms to increase its geographical reach. The bank can enter into agreements with partners or agent s to market its personal finance product. Alternatively, it can sell the products (mortgages and credit facilities) directly to the people or via the internet. The multi-channel approach will enable BNP to capture a large market and enhance its capacity to be competitive in the Singaporean market. Threats Singapore comes second in the Economic Freedom Index, an indicator of the business-friendliness of a country’s economic policy (MarketLine 2015). However, the increasing trade regulations, dependence on foreign labor, and rising property prices pose a threat to business growth. Trade Regulations Although Singapore’s business regulations favor investment inflows, recent trends indicate a toughening of the laws guiding foreign investments. As from 2013, any foreign-owned organization, regardless of its status in the country of origin, is required to register as a limited liability company to operate in Singapore (MarketLine 2015). In contrast, in other countries, regist ering as a private limited company is optional. Therefore, the BNP will have to register as a private limited company to operate in the Singaporean retail-banking sector. In addition, the bank must comply with the country’s 2007 regulations that require firms to file annual returns to the income tax department. Dependence on Foreign Labor Singapore experiences a persistent labor crunch, forcing it to rely on foreign labor to drive its economy. According to MarketLine (2013), foreign labor in 2012 constituted 37% of the country’s workforce, which is among the highest globally. Singapore’s overdependence on foreign labor is a threat to sustained economic growth. In addition, the government’s restrictions on labor inflows to provide opportunities for local workers are likely to slow down economic productivity. Rising Property Prices It is projected that the rising inflow of foreign labor will lead to an increase in the demand for property in Singapore. As a result, prices in the real estate and property market will rise, posing a threat to business growth. Private and public residential property in Singapore increased in value by over 120% and 70%, respectively, between 2009 and 2013 (MarketLine 2015). The rise in property prices is attributed to the high foreign labor inflow that drives the demand upwards.  The rise in property prices has increased the value of mortgages extended to households. According to MarketLine (2015), in 2013, up to 49,000 households in Singapore had two mortgages. As a result, Singapore’s household debt amounts to 77% of its GDP. The high household debt means that lenders cannot increase interest rates. Therefore, the BNP will face the threat of high household debt that will affect the growth of the mortgage segment. In addition, a high default rate, which is estimated to be 10%, is another threat to growth in this subsector. Strengths BNP’s strengths in the banking sector lie in its leading m arket position in the Eurozone, sustainable revenue mix, and strong capital base. These factors give the institution a strong strategic advantage as it expands its retail banking to new markets. Market Leader Position The BNP group is a market leader in Europe, particularly in France, where it is the largest bank. It offers banking services to the major international markets in Europe, Asia, and Africa, among other regions. Besides retail banking, BNP’s three other complementary products include â€Å"corporate banking, investment banking, and asset management† (BNP Paribas 2015, para. 4). Its market leader position in retail banking means that it has sufficient capabilities to leverage on to expand successfully into the Singaporean market.  On the global front, the BNP group ranks as the eleventh largest firm in its market segment. It is a leading provider of personal finance in the Eurozone. It’s French Lease Group dominates the equipment leasing market in F rance. Thus, BNP can capitalize on its position as a market leader to build its brand image in the Singaporean retail-banking sector. Sustainable Revenue Mix BNP’s revenue model is well balanced and sustainable. The share of its retail banking accounted for 56% of the total revenue earned in 2011, underscoring the significance of this segment to BNP’s growth strategy. In the same year, the combined income from the investment and corporate banking division constituted 24% of the revenue. Therefore, these complementary products provide a sustainable revenue mix that can help BNP expand its operations to international markets, such as Singapore.  In addition, BNP generates revenue from net interest income from its business divisions. In 2011, its net interest contributed about 57% of the revenue while income from commissions contributed 32% (Datamonitor 2012). Thus, BNP relies on multiple products to drive its growth, which means that it is resilient to shocks in the re tail banking market. Strong Capital Base Since 2010, the BNP group has been recording an increase in its capital and common equity ratio. The group’s capital grew from $88,754 million to $91,930 million between 2010 and 2011, increasing its common equity ratio to 9.6% (Datamonitor 2012). The high capital gains indicate that the firm has sufficient resources to expand into international markets, including Singapore. In addition, BNP group’s massive capital surplus, which, according to Datamonitor (2012), stood at $42bn in 2012, can enable the firm to weather disruptive market developments. Thus, the BNP group can remain resilient in the face of unfavorable market conditions Weaknesses Despite its leading market position, BNP has some internal weaknesses that affect its profitability. The declining quality of the bank’s loan book and cost management are some of the challenges facing BNP’s internal environment (Carter McNulty 2005). In particular, the risin g operational costs have had a significant effect on the group’s profitability. Declining Loan Book Quality BNP’s retail banking division extends credit and mortgages to customers. Since 2010, the bank’s debt or doubtful loans have been rising and currently stands at $47.9bn (Datamonitor 2012). The increased lending risk associated with financial crises in Eurozone countries has had an effect on the firm’s operating income. As a result, the bank’s coverage dropped to 80% in 2011 down from 81% the previous year (Datamonitor 2012). The declining coverage shows that the internal provisions have had little effect on the quality of the bank’s loan book and operating income. Inappropriate Cost Management BNP has been unable to control operational costs in some of its business divisions. The cost/income ratio of its Eurozone division increased to above 80% in 2013 from a low of 65% in 2010 (MarketLine 2015). In another division, called BancWest, co sts reached 57% relative to the operating income earned in 2010, up from 52% the previous year (MarketLine 2015). Clearly, the firm’s cost/income ratio is unfavorable, a scenario that has a significant effect on its profitability and growth plans. Recommended Actions The retail banking market in Singapore has grown significantly over the past few years, making it highly attractive to international players. Consumers show confidence in large financial institutions that have a strong brand identity, such as DBS. Therefore, new entrants must seek to build brand identity in the Singaporean market. In this respect, the writer recommends the use of an intermediary as the entry mode to the Singaporean retail banking market to reduce entry costs. In addition, this entry mode is less subject to the stringent regulations imposed on full-fledged institutions. The MSA regulations require all banks to maintain a capital ratio of 6%, in line with Basel III standards (MarketLine 2012). Thus , entering the market as a full-fledged will be more costly than the intermediary entry mode.  To penetrate the market faster, BNP will need to adopt innovative banking systems. The writer recommends that BNP should invest in in-house systems that can handle large volumes of customer data and allow contactless transactions via mobile devices. BNP will need to integrate vertically with network providers in Singapore to reach more customers. Additionally, BNP will need the services of firms that offer data processing software to roll out its credit/debit card product in the Singaporean market. Examples of such firms include MasterCard and Visa. Strategic partnerships with network/software providers will enhance the security of BNP’s credit cards. The partnerships will increase consumer confidence in the bank’s products and translate into a better brand image and business growth.  Debit cards will also provide BNP with an opportunity to penetrate the Singaporean retai l banking market. Debit cards offer extra advantages over hard currency, including security and ease of use. BNP can provide debit cards that facilitate online transactions or payment for services and goods to attract more customers.  Product differentiation is another strategy BNP can use to penetrate and grow in the retail banking market. Current players have comparable product offerings, which limit the degree of business competitiveness. BNP can introduce insurance and investment products in addition to credit/debit cards and mortgages. In addition, according to MarketLine (2012), the high-interest rates imposed by the current players have led to a decline in demand for credit services. In this view, BNP should offer credit facilities at competitive interest rates to attract new customers. As a big corporation, BNP can leverage on its huge capital base to provide credit services at competitive rates. The competitive interest rates will reduce the rate at which consumers switch to competitor products.  To increase its geographical reach, BNP will have to use agents or intermediaries. Through agents, the bank can expand its coverage and proximity to individual customers. Additionally, through vertical integration with mobile service providers, BNP can bring its services closer to the people. A multi-operator system, such as the Payez Mobile, will be useful in expanding the bank’s reach into areas currently underserved by the existing market players. Thus, partnerships with leading service providers will be a source of competitive advantage for BNP. Singapore is experiencing a property boom fueled by the increasing inflows of foreign investments. Between 2009 and 2013, private property value in Singapore increased by over 120% (MarketLine 2015). The rising property value shows that the demand for mortgages for building residential property is high. Thus, the real estate market is a lucrative segment that BNP can target. The current high-interest ra tes have forced property buyers to resort to renting, a scenario that has reduced the level of competitiveness of the mortgage sector. Therefore, BNP should offer mortgage products at low-interest rates to attract customers wishing to purchase residential houses. Singapore’s business environment and less restrictive policies are attractive to a foreign workforce. Thus, international firms expanding to Singapore can employ skilled foreign labor to drive their growth strategies. BNP can rely on an experienced foreign workforce to drive its retail banking business in Singapore. Experienced managers working in other BNP divisions can be redeployed to head its new operations in Singapore. The use of experienced managers will cut down the costs associated with training and turnover in the industry.  BNP is a market leader in personal finance in its existing markets. The bank’s personal finance product is doing very well in the European markets. BNP can sell the same produc t in the Singaporean market to tap into existing opportunities. In this respect, the writer recommends a multi-channel approach in reaching out to clients. BNP can use different channels, including internet, agents, and social networking sites to increase its digital presence. In addition, product offerings that complement customer credit and mortgages, such as insurance cover, would enable BNP to penetrate the Singaporean retail banking market successfully. References BNP Paribas 2015, Retail Banking and Services. Web. Carter, D. McNulty, E. 2005, ‘Deregulation, Technological Change, and the Business-Lending Performance of Large and Small Banks’, Journal of Banking and Finance, vol. 29, no. 5, pp. 113-130. Datamonitor 2012, BNP Paribas Group: Company Profile. Web. Market Line 2012, BNP Paribas Group. Web. Market Line 2013, Country Profile Series: Singapore. Web. Market Line 2015, Market Line Industry Profile: Retail Lending in Singapore. Web. This report on International Expansion Strategy for BNP Paribas was written and submitted by user Amy Mcpherson to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Tips on How To Write an Impressive Expository Essay

Tips on How To Write an Impressive Expository Essay Writing an Impressive Expository Essay The first step towards completing a successful expository essay is to define exactly its essence. So, let us get to the very core of the subject. Expository essay gives the essential information on a certain topic. This type of writing aims to inform and show an authors vision on the subject. It is not hard to guess that the word inform shows the most clearly the concept of the expository essay. Therefore, the writing should not be overloaded with argumentation or persuasion. Always keep in mind that you should enrich your paper with factual information. The text itself has to make the topic clear, comprehensible, and logical for a reader. Pick out an appropriate topic. The most widespread types of expository essay are: Provides the target audience with a simple and easy to understand clarification of a theme. Presents the more precise look on different peculiarities of a subject. Estimates. Notes similarities and dissimilarities between components. Considers several solutions to a problem within the realms of possibility. Describes a gradual plan of actions to attain a certain result. Here are some examples of topics: What does the human body need to function healthfully? Kinds of transport to use for long distances. How can crime be reduced in your local community? How to learn language effectively? Judging from the examples, the expository essay does not have some narrowed areas of studying. So, your topic can be anything that might be interesting to you. The most important thing is just to define an exact purpose of writing and not to lose the focus. When you have a freedom of choice, one more tip is to opt for the subject that is already familiar to you. Additionally, the theme has to have a potential to be developed. The next step is to make a thesis statement. It defines the core of the essay, so do not put there something too obvious or too general. Research and plan The audience that would read the paper is a very important factor. As a matter of a fact, people of various ages and social groups would perceive information differently. So, clarify this detail with your teacher. While completing this type of an essay, you should first carry out a research. This way you could collect the needed information and then structure it. It is necessary to use various sources and dig deeper, so the writing will be complete and meaningful. Among the criteria to evaluate the author we distinguish authors credentials, publishers reputation, citations, publication date. Expository essay outline The standard essay has a simple structure and consists of five paragraphs: introduction, main body (three paragraphs), and conclusion. The introduction has to be short, but present something that would light the sparkle of interest in the reader. Begin with a focus statement and a person would like to read more. Main body paragraphs deal with different points and each of them has to be relatively short. In the conclusion you should repeat the most important statements. Then, sum up adding your own observations and results of the research. Despite that the main volume of work is already done, there is still much to do. Reviewing of the paper is the final step before the publication. Rereading the text, check if you followed the structure, have not lost the focus, is the information logical. Your evidence should be accurate and relevant. If it is complicated for you to be critical, then let your friend or somebody else to read it. Following all these steps, you have a chance to complet e a valuable work that will bring you the highest marks and a benefit to the reader.