The topic is forex risk management but i need to hand in the Literature review

The topic is forex risk management but i need to hand in the and backgroud chapter on monday - Literature review Example The market also does asset valuation, arbitrage, raise capital, commercial transactions and invest in bond, stock or money. Besides, all these, the market also does forex risk management (Levinson, 2005). Forex has four interdependent spot markets where currencies are traded. These are the spot market, futures market, option market and derivatives market. Most of the time, these markets are availed by key actors in direct and indirect investments, such as, exporters, importers, investors, speculators, and governments. Trading is often done at interbank markets and financial institutions although the most common currency traded is the US dollars. Exchange rates are managed either in fixed rate, semi-fixed systems, and floating rates. Forex Risk Management Forex risk management is basically protecting a foreign currency from losing value against the domestic (Levinson, 2005) â€Å"currency before an export payment is received as well as enabling markets to attach price to risk, permit ting firms and individual to trade risks until they’d hold to what they wanted to retain† (Russell, 2011). ... Investors, either individual or institutional, who are motivated to and to gain capital are assured of this market’s system of resiliency in risk management (Russell, 2011). This is further supported by the institutionalization of formal markets where investors can immediately raise capital by selling shares at the stock exchange (Russell, 2011). The foreign exchange is a huge trading market that is geographically dispersed and exchanges could either be favorable or not depending on the measures of risk management employed otherwise it can be limiting â€Å"trade lot size, hedging, trading only during certain hours or days, or knowing when to take losses†(Milton, 2011). Forex trading may seem easy, but in all honesty so difficult, indeed. Traders would either experience sudden corrections in currency exchange rates; bewildering variations in exchange rates; susceptibility to market’s rapid change for profit opportunities; lost payments; delay in the confirmation of receivables and fees; discrepancy of bank drafts received and the contract price †(Milton, 2011). Tools for Forex Risk Management How should a trader control his loses? Expert in trading currency suggested that investors should think twice to set limits on potential â€Å"pressure or drawdown† one is willing to stake in trading. They also advise make use of â€Å"correct lot sizes and to start at lower amount depending on one’s level of risk tolerance (Easy Forex, 2011). But for experts, the best rule is to utilize small account balance. They also advised tract â€Å"overall exposure† to be abreast of the developments and correlation of currency pairs (Easy Forex, 2011). Gain complete risk control and define your opportunity when the right

A Knot in the Wood Essay Example | Topics and Well Written Essays - 2500 words

A Knot in the Wood - Essay Example We sat in an old cafe in the West Village, an easy walk from NYU. Last week, an airline special caught his eye and I had to cancel my plans to accommodate his last minute trip. I was supposed to be in Vermont with my boyfriend Josh, who took his roommate instead. At first, I had felt ambushed, but then I remembered who my father was; or, rather, who he wasn’t: not spontaneous, impulsive, or effusive. Dad hadn’t been to New York since his honeymoon and he kept pointing to buildings to explain their architectural significance, starting sentences that trailed off like dust behind a car. He wouldn’t commit to anything, like seeing a play, walking through Central Park, or spending a day at the Met. All the tourist things my classmates did with their parents. People said grief aged you, but not my father, still handsome with a full head of salt and pepper hair. He looked too young to have a daughter in her mid-twenties; too young to be a widower. Hunched over his coffe e, he asked how school was going. â€Å"I’m taking a series of art history because there’s this program in Barcelona. I thought maybe I could spend a semester there.† â€Å"It’s far away.† He had said the same thing about my summer trip to Amsterdam. When I finally got around to sending him the package of souvenirs along with a stack of snapshots, he offered a terse thank you and said I looked too thin in the photos. Now here he was. I glanced around the cafe. We were upstairs in a window seat, and I took turns watching the customers downstairs and the pedestrians on the street. The weather turned last night, and that afternoon everyone was bundled in hats and scarves. Wind blew garbage and leaves down the street. Halloween decorations still hung in a few shop windows. Below, two men stood on a corner, both smiling. I could see their breath when they spoke. I felt that nagging guilt that I shouldn’t have chosen a school so far away. I had st ayed close for college, a two-hour drive away, so I could come home at least one weekend a month. It had been just the two of us from the start. I underestimated how hard it would be on him. â€Å"Is that why you came? You want me to transfer?† â€Å"No. Absolutely not. But you should come home for the holidays.† â€Å"I’ll be home for Christmas.† He closed his eyes for a moment as though he was in pain or trying to remember something. â€Å"Dad?† His eyes popped open and for the first time since he’d been in town, I felt like he was really looking at me. I watched as he took in my face. Even though he didn’t say it anymore, I knew he was thinking of how much I looked like my mother. It was difficult being a carbon copy of someone who was dead. His face relaxed and now it was I unable to meet his eyes. I rotated my cup, swishing my coffee to even out the sugar before taking a sip. Maybe I should have dyed my hair brown or red--anythin g but my mother’s blonde. â€Å"Do you want to take a walk?† he asked. I inventoried his clothes: a sweater but no jacket. I doubted he had packed gloves or a scarf. â€Å"It’s getting cold. You think you’ll be warm enough?† He nodded. â€Å"I can always buy something.† We rose from our chairs and shuffled our way down the stairs. My father held the door for me, ushering me into the cold. My hair whipped around my face and I wrestled on my hat, a pale green felt one my father had sent in a care package. He smiled. â€Å"I’ve always liked you in that color.† â€Å"Thanks. Let’

Recruitment and Selection: Analytical Report

Recruitment and Selection: Analytical Report Grimshaw (2009, pg no 7) claims that bringing person or persons into the organisation is called Recruitment. It begins with the declaration to recruit continue through to the induction and settlement of the new employees. The action of adjudicating between groups of one or more applicants who is more appropriate for a particular job is called Selection. Edwin, B. Flippo. 1980. The Personal Management. The action or process of exploring the applicants for employment and activating them to assign for jobs in the organisation is called Recruitment. Recruitment and selection designates the consecution and arrangement of activities affecting to recruitment and selection of employable applicants and job holders for an organization The main aim of recruiting and selection is to get qualified employees who are suitable into the culture of the organization. According to Erich and Leonard 2009 in his recent study it was found that an appropriate Job analysis is the base of all other human resources functions. If we dont properly understand the nature, attributes of the job, we cannot hire the proper candidates for that specific job. While recruiting candidates an organization should keep in mind about the worthiness and quality of that specific position of the job holder. They should be trained after recruitment; organization should provide guidelines, arrange some development programs for the better criteria. It should begin with a proper job analysis. (Erich and Leonard 2009) JOB ANALYSIS A recent study (Hartley 1999) found that an organised and efficient process for gathering, collecting and examining the information about jobs is Job analysis. The collection of information about the duties, responsibilities, necessary skills, outcomes, and work environment of a specific job can also be called Job analysis. It accommodates the basis for a job description, which access decisions on recruitment, training, streamlined efficient and rewards systems. There is no point for hiring people unless we know what we are hiring them for. The main aim of recruiting job analysis is to adapt job description and job specification which helps to hire good quality of work force into the organization. The management of a business need to conclude what sort of work need to be done. Job analysis is a key part of this need. COMPRISES OF JOB ANALYSIS Job analysis would commonly contain: Nature What is the job and how should it recounts to the business? Purpose Engagement and Commitment in the organization. Duties and Accountabilities Achievements and Outcomes that the Job holder capable for. Performance criteria Measurement of Job holders Performance. Resource requirements Like Equipment, Location or Entrepreneur. While recruiting; organisation should mention the above criteria for the Job holders so that the candidates should consider the aim, purpose, liabilities, responsibilities, duties thoroughly and deeply. Example: In AIRLINES the air hostess job is to look after and provide good quality of services towards their passengers. The criteria of this organisation are not high enough. Those candidates are given first priority whose communication is good, who are soft spoken, look smart and descend, have good behaviour and etc, because it is all about customer care services. If the air hostess looks good and if she/he speaks gently, the passenger will automatically be persuaded and that is how the good reputation of the company or organisation can be made and more possible good outcomes could be achieved. As it is said that: First impression is the last impression. While recruiting; an air line also looks that the candidates should not be short tempered. These are the basic demands for hiring candidates in an air line. If the candidates are able to meet these standards; they will be appointed. We can take another good example about army recruitment and selection. The Gurkha recruiting process is one of the toughest of any Army in the world. Their soldiers are selected from amongst many thousands of hopeful applicants.  Gurkha soldiers tour around the remote villages of Nepal conducting the initial screening tests. Every applicant must meet the certain standards of education, fitness and health. If successful, they will be called to attend the next step. Retired Gurkha Officers hold a number of selection days across the country. Every recruit has to give his best and has to take the maths exam in order to qualify for the next level. The criteria are quite high enough, and no weaknesses are accepted. All who make it through this stage are good enough to be soldiers in the British Army, but very few are able to make it. Central selection is that process where those applicants are selected who has passed previous stages. This is the last and final hurdle for the candidates. In Bokhara, Western Nepal the candidates have to report recruiting depot and spend 2 weeks being put through their paces. Doko race is the most hardest and gruelling assessment. Candidates has to complete a 2 mile race up a near vertical hill carrying 35kg of rocks in a basket, the weight borne by the traditional Nepalese carrying strap across the forehead, due to which their stamina and potential can be checked out and it should be completed within 20 mints. All the candidates should have passed the Nepalese School Leaving Certificate, equivalent to between GCSE and A-Level standard in the UK.  If successful, the will be taken to Catterick in North Yorkshire to undergo training in the Gurkha Wing of the Infantry Training Centre. In his 8 months training, the new soldier will not only learn military skills, but will also pass English language exams.   After passing all these training, he can feel proud what he has achieved, but he will have to work harder and harder to live for his reputation that his forefathers have built. (Gurkha soldiers recruitment) ESTABLISHING GOOD AND EFFECTIVE HIRING POLICY: According to Kumar and Sharma (2000) in their research, an employers recruitment and selection practices look to ensure and most capable for job holders. Job analysis information helps job holders to achieve those aims and goals by ensuring selection criteria, such as the knowledge, skills, accountabilities and capabilities needed to perform a job successfully. Policies should be flexible in order to make good and efficient hiring practice. Job title, duties, responsibilities tasks are very essential contents. Targets and performances standard that the job holder is required to accomplish for the benefits of an organization. An organizational managers and human resource (HR) can use these information to choose or to develop adapt selection devices for instance interview, questions and tests. This approach to selection legally required. Job Description: Kleynhans, Ronel. 2006. Human Resource Management. Job description can be used to create some advertisements to recruit new employees and should give them some extra information about the job. The recruiter has to know the qualifications, skills or knowledge that the candidates need to perform that specific job. Without giving any information, an organisation would have to recruit and select, employees without any clear guidelines, and this could have given very bad results for the employees and the organisation. Advantages of Job Description: Clark. M, Marjorie. 2008. The Job Description Handbook. Job description accepts various numbers of some other considerable purposes. It discloses expectations and allows employees know what it catches to exceed in their jobs. Grant, C. Philip.1989. Multiple uses Job Descriptions: a guide to analysis, preparationà ¢Ã¢â€š ¬Ã‚ ¦ It is a communication tool. If it is well prepared, it will give you a great deal about a job. Relevant information could be used in every human resource management and beyond the bounds. It will help the employees, their fellow workers, their bosses and people outside the organisation. If it is well described and prepared, will provide these people with a logical, laconic and accurate frame work. It mainly accommodates duties, aim, purpose, motives, responsibilities, vision, and working postures of a job along with a jobs title. A job description could also be used as a job indicator for candidates for a job. It can also be used as a guideline for an employee for the responsibility and duty within the organisation and the main aim and purpose of a job description is to have tracing an object of duties, sinsererities, and responsibilities to make the adumbrating action as direct and focused as possible. Job description may have the following contents: Responsibilities/roles can be improved by providing facilities to the members of the organisation. Empowering career moves within the organisation. Function of the assurance of the amount to pay. Specification of the job owner should be boosted comprehensively. While recruiting jobs into the market above standards could be the main elements for the job description. Job Specification: Kleynhans, Ronel. 2006. Human Resource Management. Credentials having minimum acceptable qualification that person should have to perform particular job. The concept of the job specification is derived from the job analysis. Educational requirements, personality traits or characteristics, experience, vision and physical abilities are included in Job specification. The candidates must have specific skills, capabilities, in order to fulfill the desired tasks of a position given by an organisation. A person specification can be outlined by the educational or institutional concerns, specialized training experience as well as more personal qualifications that an applicant must obtain. Heron, Robert. 2005. Job and work analysis: Guidelines or identifying jobs for persons withà ¢Ã¢â€š ¬Ã‚ ¦ According to him, the productive placement in employment of job finders with disabilities associates making the best possible match between qualifications, interest, assurance, expectations and the requirements of enterprises, attested in the job descriptions and job specifications for particular vacancies. The job placements process needs detailed job description for each vacancy and a depicted job specification defining the general and particular concerns for every vacancy. Both the job description and job specification are depended on job analysis. Without good quality job analysis the description of job favourable circumstances will be ambiguous than absolute, general rather than specific, broad rather than detailed. Job specification specifies the qualities much needed in a job incumbent for the efficient and effective performance of the job. According to MUNRO FRASER, he gave some 5 useful points regarding recruitment and selection which are as under: The Frazer 5 Points Impact on others or the kind of acknowledge a persons manifest, speech and manner calls out from others. Qualifications and experience the skills, capabilities and knowledge required for different jobs. Innate abilities how immediately and accurately a persons mind works. Motivation The kind of work that demands to a person and the amount of aspiration they are prepared to put into it. Emotional (psychological/interpersonal) adjustment ability to work and cope with the commands of living and working with other people. Employment Legislation: According to Smith and Thomas 2007 research it was noted that Employment law is subjected of as a rapid revolution which could have happened to any authorized subject in this current era, and is absolutely one of the most challenging areas of law which should be kept well informed. Human Resources are getting changed rapidly in this era by Employment legislation. This domain will help you understand what authorized tools exist now; how your business will be affected and on what areas you need to be careful for. These sorts of objects are jotted down in a non confused, understandable way. Employment legislation influences on recruitment and selection: During this era body of legislation or law has developed ruling employer/employee Connections, interactions and the rights of employees and the employers in the organisation. Employment Equality and Regulations are being followed and providing equal opportunities to the UK employers. No candidates or employee will get less favour or treatment on the grounds of sexual orientation, discrimination in the areas of sex, political belief, disability, marital status, race, ethnic origin, nationality, religion or social classes. Following are the Acts which elaborates Employment Legislation deeply. The employment rights Act: Employment Relations Acts of 1999 and 2003 gives the vast range of authorized rights for the employees which mentions, Pay statement and national minimum wage should be declared, the terms and conditions must be set out in writing in order to protect unfair and biased dismissal at work. According to the sex discrimination Act, 1975: Employees must be protected against discrimination on the grounds of gender, for instance: While job advertisements into the market as well as recruiting and selecting employees for jobs, In assisting employees, offering training and career opportunities. There are some exceptional cases in which this Act doesnt apply related to Genuine Occupational Qualifications (GOQs). For example: if a female actress is hired to play female part in the film. The Equal Pay Act of 1970: According to this Act, men and women should receive equal payment for the same work to be done. The Race Relations Act, 1976: Race discrimination is illegal in the same way as the sex discrimination Act. For instance: Advertise for an English waiter to work in an English restaurant. The Disability Discrimination Act, 1995: When a disabled person is treated less favourably by the discriminator it comes under the discrimination Act. The National Minimum Wage Act, 1998: Legally employee must be paid at the minimum wage and this is increased each year in line with the rise in the cost of living. All Employees can work maximum 48 hours per week, and four weekly holidays. Recruitment and Selection Process: The evolution of captivating, attracting, screening, selecting accomplished and qualified people for a job at an organisation, company or a firm is called Recruitment. Some important criteria must be considered while offering job vacancy into the market, which is mentioned below: Vacancy Arises Need to fill position confirmed Consider job Description, job Specification and Selection criteria Prepare for Advertising whether it is internally, locally or both Determine the position of the job holder Prepare information packages Packages shall be approved by Human Resources Confidentiality Application forms Selection committee Responsibilities and duties of Selection committee Developed interview questions Conducting interviews Verifying credentials Rank of applicants Reference checking Selection report Advice to applicants Appeals process Induction Review Above are the main and important factors in recruiting and selection process. Jobs can be advertised through many different ways. Now days it is advertised mostly via news papers, internet, t through TV channels etc. People are getting informed and educated through all this modern techniques. For instance: if I am working in the Banking sector as a Branch Manager and I have to leave, I would advertise via newspapers, internet, and street banners etc. These could be the cheap modes of advertisement. The person who is looking for this job should be capable, got managing and communication skills, confident, experienced, punctual, goal oriented and is able to satisfy his customer utmost. He will be recruited in Head office by Regional Manager and Branch Manager. Duration of the interview may be more than 1 hour. While recruiting he will be observed and take into consideration whether this job is suitable for him or not, because he will have to make some good decisions so that the maximum profit could be generated and is able to give laconic presentation in front of Regional Director, Branch Manager, and Country Manager. If I ask to offer jobs into the market I would recommend this format for hiring employees. VACANCY Branch Manager Positions 05 Job Title Publication: External Industry: Banking Sector Department: General Designation: Branch Manager Location: Romford Degree Title: MBA Career Level: 5 years Experienced, as A Branch Manager Apply by: Sep 20th, 2010 Posted: Aug 21st, 2010 Job Description The applicants for the above posted job should be able to achieve assigned invested targets as well as keep trying to increase investment level. Make some effective policies due to which we are able to make good relation with the customer and try to promote business and generate money. The Selection Criteria: The Branch Manager will be selected on the basis of following criteria: Good effective organisational skills, attention to detail accuracy. Knowledge of the Banking sector, and the good policy maker. Be able to communicate with the staff politely and gently. Good oral and written skills. Capacity to work in a team in international environment. Knowledge of English as a working language. It would be an asset if the candidate has professional and reach to above criteria in order to promote business. They should be devoted, sincere and loyal towards their duties and responsibilities. Good attitude and behaviour plays a very vital role in any organization. If the job holder is focused, expert and motivated good results and outcomes can easily be achieved. Due to this, performance will be better and more chances to win the confidence of the customer. Owing to this, the customer attracts towards you and that is what any organization looks for this in order to build goodwill and make a good reputation into the market and more efficient possible outcomes could be achieved.

The Use Of Symbols In Macbeth Essay -- essays research papers

The Use of Symbols in Macbeth   Ã‚  Ã‚  Ã‚  Ã‚  In the play Macbeth, Shakespeare uses many symbols to add to his story. His use of blood, water, light, dark, rampant animals, and even the witches are examples of how he used symbols to add depth to his play. These symbols were often times recurring and they were all related to the central plot of the play.   Ã‚  Ã‚  Ã‚  Ã‚  Shakespeare used blood in this play several times. Blood is first mentioned by Macbeth shortly after he had slain Duncan. The subject of blood was introduced again when Duncan's murder was brought up by Lady Macbeth, as well as others later in the play. In the aforementioned circumstances, blood was used to symbolize the guilt, and pain that Macbeth and his wife were experiencing as a by-produc...

My Mother Essay

The film centers on Manuela, a nurse who oversees donor organ transplants in Ramà ³n y Cajal Hospital in Madrid and single mother to Esteban, a teenager who wants to be a writer. On his seventeenth birthday, Esteban is hit by a car and killed while chasing after actress Huma Rojo for her autograph following a performance of A Streetcar Named Desire, in which she portrays Blanche DuBois. Manuela has to agree with her colleagues at work that her son’s heart be transplanted to a man in A Coruà ±a. After traveling after her son’s heart, Manuela quits her job and journeys to Barcelona, where she hopes to find her son’s father, Lola, a transvestite she kept secret from her son, just as she never told Lola they had a son. see more:speech about my mother In Barcelona, Manuela reunites with her old friend Agrado, a warm and witty transsexual prostitute. She also meets and becomes deeply involved with several characters: Rosa, a young nun who works in a shelter for battered prostitutes and is pregnant by Lola; Huma Rojo, the actress her son had admired; and the drug-addicted Nina Cruz, Huma’s co-star and lover. Her life becomes entwined with theirs as she cares for Rosa during her pregnancy and works for Huma as her personal assistant and even acts in the play as an understudy for Nina during one of her drug abuse crises. On her way to the hospital, Rosa asks the taxi to stop at a park where she spots her father’s dog, Sapic, and then her own father, who suffers from Alzheimer’s; he does not recognize Rosa and asks for her age and height, but Sapic is cleverer and knows Rosa. Rosa dies giving birth to her son, and Lola and Manuela finally reunite at Rosa’s funeral. Lola (whose name used to be Esteban), who is dying from AIDS, talks about how she always wanted a son, and Manuela tells her about her own Esteban and how he died in a car accident. Manuela then adopts Esteban, Rosa’s child, and stays with him at Rosa’s parents’ house. The father does not understand who Manuela is, and Rosa’s mother says it’s the new cook, who is living here with her son. Rosa’s father then asks Manuela her age and height. Manuela introduces Esteban (Rosa’s son) to Lola and gives her a picture of their own Esteban. Rosa’s mother spots them from the street and then confronts Manuela about letting strangers see the baby. Manuela tells her that Lola is Esteban’s father; Rosa’s mother is appalled and says: â€Å"That is the monster that killed my daughter?!† Manuela flees back to Madrid with Esteban; she cannot take living at Rosa’s house any longer, since the grandmother is afraid that she will contract AIDS from the baby. She writes a letter to Huma and Agrado saying that she is leaving and once again is sorry for not saying goodbye, like she did years before. Two years later, Manuela returns with Esteban to an AIDS convention, telling Huma and Agrado, who now run a stage show together, that Esteban had been a miracle by not inheriting the virus. She then says she is returning to stay with Esteban’s grandparents. When asking Huma about Nina, she becomes melancholic and leaves. Agrado tells Manuela that Nina went back to her town, got married, and had a fat, ugly baby boy.

Risk Assignment

498 Assignment 4 Spring 2013 Due Date: March 26, 2013 1. Consider the Luxury Seaside Hotel Risk Management case you put together in your previous assignment. Answer the following questions regarding each one of the risk sources you have identified (at least 4). i)If you desired to follow a statistical approach in the assessment of the risk, what hard data would you need, what hard data do you think would be available, what near accident data could be used to support the available insufficient accident/failure data? i) What would be the key probability distributions of interest, which of these do you think you would be able to estimate (given the data environment that you have imagined in (i))? iii)What regression relationships would be of interest, which of these do you think you would be able to accomplish (given the data environment that you have imagined in (i))? Guideline for Answering / Grading: i)Data availability/unavailability scenarios should be reasonable and based on facts , observations, assumptions, examples, beliefs. the related discussions could be very brief). ii)Suggestions for the key random variables and the associated probability functions should be clearly stated and based on well founded arguments (again, the related discussions need not be very long). Parameters of these distributions and how are they to be estimated from the data environment imagined in (i) should be clearly stated. ii)Suggestions for the regression relationships should be clearly stated and based on well founded arguments (again, the related discussions need not be very long).Related independent and dependent variables should be well defined. 2. A researcher from Virginia Polytechnic Institute and State University is interested in how variables, such as GRE (Graduate Record Exam scores), GPA (grade point average) and prestige of the undergraduate institution, effect admission into graduate school. Since the response variable, admit/don't admit, is a binary variable, she considered logistic regression.A small data set is conducted to fit a logistic regression equation relating the admit/don’t admit decision y to GRE score x1, GPA score x2, and prestige of the undergraduate institution x3.. The data set is ready in both excel and SPSS data format, which can be obtained from course website by downloading binary. xlsx or binary. sav. The purpose of this homework is to use logistic regression to arrive at an appropriate model that predicts the outcome variable  admit, using  gre,  gpa, and  rank.