Origins of Agriculture the stepping stone for...

Most people do not think highly of the farmer and of agriculture in general. After all, there is no visible connection between the rural and the urban life. As long as the food is on the table or in the market, agriculture is simply not important to most people. However, not that many people think that school, sports, movies, and society would not be possible without agriculture. Agriculture was a crucial science that gave rise to the earliest of settlements and allowed humans to grow. Agriculture began around the same time in different areas around the world and with agriculture came the very start of modern civilization. Yet how did agriculture begin, why was the beginning of agriculture linked to the beginning of civilization and†¦show more content†¦The almost constant supply of food allowed these small groups to grow in population. This ability to not have to search for food every second of every day meant that people were able to allocate time to other tasks like build ing or specialization. As agriculture became more and more valuable, protection was needed and so an army was formed. The leader of these armies soon became the leader of the villages. Eventually, these small villages would give way to cities, dynasties, cultures, governments, and civilizations. In East Asia, one location in particular is a major origin of agriculture. This area is located around the middle and lower basins of the Huanghe and Yangzi rivers. The adequate rainfall and the rivers allow the region to be extremely fertile. It has been discovered that, as early as seven thousand BC, hunter-gatherers had formed villages around this area and was farming wild rice and foxtail millet. Many believe that this domestication began when hunter-gatherers in Southwest Asia began the practice of replanting such plants to sustain the amount of food available and make this supply easily available. Over time, this system of agriculture improved until there was seed selection, planned ha rvest seasons, and winter storage. Agriculture became so efficient, that villages and cities were able to form solely on a plant-based economy. In fact, crops became the central focus of many settlement and led to the development of tools , culture,Show MoreRelatedSimilarities Between Egyptian And Mesoamerican Societies Essay1714 Words   |  7 Pagesthe world, are Egyptian and Mesoamerican societies. There are many similarities as well as differences among Egyptian and Mesoamerican societies. Egyptian and Mesoamerican societies have many similarities to begin, both societies were complex civilizations. Both Egyptian societies and Mesoamerican societies developed their own cultures and religious beliefs. The Mesoamericans and as well as the Egyptians both believed in a god. Both societies also believed that this god needed to be praised and worshippedRead MoreLogical Reasoning189930 Words   |  760 Pagesfrom an intelligent source and contains the message which says, when translated into English, Can you hear us? Describe yourself and where you are located. The continuously repeating message also includes a very brief description of the other civilization, indicating that they are a hydrocarbon-based life form that lives on two planets around a central star. Their signal gave no indication they know we exist. You, a leading government official, have been asked by your president for your opinion

Difference in Societies of New England and Chesapeake...

Although New England and the Chesapeake region were both settled largely by people of English origin, by 1700 the regions had evolved into two different societies, why did this difference in development occur? For different reasons, settlers chose to inhabit the regions of New England and Chesapeake. The social economic and political reasons separated these groups. This was mostly because of the different founding purposes; New England being founded on religous values and the Chesapake being founded for financial reasons by Joint Stock companies. Although settled largely by people of the English origin, the regions of the east cost had evolved into two different societies by 1700. The push and pull factors of the settlers coming†¦show more content†¦Often the settlers lived to their twenties, but not much longer. In the parallel New England individualists were rare. Families, children and even grandparents inhbited New England. The settlers brought over were educated professionals and skilled workers. In Chesapeake people had to be constantly sent over to keep the population up and the colony successful but in New England educated traits were passed down in families so their popu lation grew successfully. New Englands population was not very diverse though, and also did not have many slaves. Combining the different reasons the settlers came to Chesapeake and New England and the types of people they were results to the societies that were constructed in these colonies. Chesapeake was agriculturally driven while New England on the contrary had commerce and was much more business-like. Chesapeake also had a few varieties in the levels of society. Small farmers held most of the population, then there are the landless whites, great farmers, indentured servents and slaves. Because of the little amount of women until the 17th century, Chesapeake had very weak family ties. One in three brides were already pregnant! In New England marriage was an extremely important key to their society. Their orderly society was based on religion, but was not very tolerant. The Congregational Church could be found here along witht the General Court. Agriculture was not used much at all in this colony. Ship building, labor, andShow MoreRelatedDbq Although New England and the Chesapeake Region Were Both Settled Largely by of English Origin, by 1700 the Region Had Evolved Into Two Different Societies. Why Did This Difference in Development Occur?1229 Words   |  5 Pages DBQ ESSAY Question: Although New England and the Chesapeake region were both settled largely by of English origin, by 1700 the region had evolved into two different societies. Why did this difference in development occur? Thesis Statement: When talking about New England and the Chesapeake region, you have to consider the differences in motives and geography. Consider economic situations (reasons for settling where they did, reasons why they came to New England in the first place). One has toRead MoreAlthough New England and the Chesapeake Region Were Both Settled Largely by People of English Origin, by 1700 the Regions Had Evolved Into Two Distinct Societies. Why Did This Difference in Development Occur?784 Words   |  4 PagesAlthough New England and the Chesapeake region were both settled largely by people of English origin, by 1700 the regions had evolved into two distinct societies. Why did this difference in development occur? AP U.S history DBQ #2 8/28/12 The New England and the Chesapeake regions were both from English origin. However, they had completely different societies. Each settlement had different intension of why they wanted to settle in the new world. New England and Chesapeake colonies hadRead MoreAlthough New England and the Chesapeake Region Were Both Settled Largely by People of English Origin, by 1700 the Regions Had Evolved Into Two Distinct Societies. Why Did This Difference in Development Occur?889 Words   |  4 PagesAround the 1600’s, New England started to develop a drastic population growth. This growth caused several problems for the occupants including, high prices on food, land, and a shortage of work for many because of the aggressive competition. Immigrants from New England began to prepare for a voyage that would be beneficial for some travelling to Massachusetts and not so much those who were travelling to Virginia. Although the settlers from the Chesapeake Bay and New England came from the same countryRead MoreNew England and Chesapeake Regions Before 1700718 Words   |  3 PagesThe New England and the Chesapeake regions were both settled by immigrants from England. However, by 1700 these regions developed into two extremely different societies. There were a few major reasons why this happened. Immigrants that settled in the New England region came to the New World with different goals than the immigrants that settled in the Chesapeake region. In general, the settlers in the Chesapeake region were more materialistic than the settlers in the New England region. DifferencesRead MoreA Comparison of the New England and the Chesapeake Bay Colonies947 Words   |  4 Pagesthe New England and Chesapeake Bay Regions During the 1700s, people in the American colonies lived in very distinctive societies. While some colonists led hard lives, others were healthy and prosperous. The two groups who showed these differences were the colonists of the New England and Chesapeake Bay areas. The differentiating characteristics among the Chesapeake and New England colonies developed due to economy, religion, and motives for colonial expansion. The colonists of the New EnglandRead MoreSocial, Economic and Political Differences Between the New England and Chesapeake Colonies709 Words   |  3 PagesEuropean nations quickly colonized the New World years after Columbus’ so called discovery. England in particular sent out a number of groups to the east coast of the New World to two regions. These areas were the New England and the Chesapeake regions. Later in the late 1700s, these two regions would go though many conflicts to come together as one nation. Yet, way before that would occur; these two area s developed into two distinct societies. These differences affected the colonies socially, economicallyRead MoreChesapeake Colonies vs. New England Colonies933 Words   |  4 Pagescolonies emerged from England in the New World. The two colonies were called the Chesapeake and New England colonies. Even though the two areas were formed and governed by the English, the colonies had similarities as well as differences. Differences in geography, religion, politics, economic, and nationalities, were responsible for molding the colonies. These differences came from one major factor: the very reason the English settlers came to the New World. †¨The Chesapeake colonies were primarilyRead MoreDifferences in Development between the Chesapeake Regions and New England 1555 Words   |  7 PagesDifferences in Development between the Chesapeake Regions and New England The seventeenth and early eighteenth century, brought thousands of immigrants to America in pursuit of freedom and a new life. Some desired freedom from religious persecution, others wanted a chance to be free from the poverty that ensnared them in England Thus the American colonies were formed. 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The Chesapeake region was a loosely fitted society with little connection with each plantation while the New England colonies had tightly knitted communities with a sort of town pride. The difference in unity and the reason for this difference best explain the significant disparity between the dissimilar societies. The New England and Chesapeake region had evolved into two different

Banking Industry in Nigeria Free Essays

Against the backdrop of the role of banks as financial intermediaries and their function as the engine of growth of the economy, this paper examines the extent to which the banking industry has helped to stimulate economic activities in Nigeria and what the prognosis looks like in the post-consolidation era. The paper notes that the banking industry in Nigeria witnessed a remarkable growth in terms of deposit base, number of branches, total asset and volume of loans and advances, especially since the de-regulation of the financial services sector in the last quarter of 1986. However, given the potentials of the market, banks need to do more, particularly in financing the real sector of the economy. We will write a custom essay sample on Banking Industry in Nigeria or any similar topic only for you Order Now It is argued that the consolidation programme is expected to have a positive effect on employment in the long-run, and that has drastically altered and redefined the nature of competition in the banking industry. Furthermore, it argues that mere size would no longer be a critical factor in the customers’ choice of which bank to patronize. Rather, emphasis would shift to the ability to deliver superior value to customers. THE BANKING INDUSTRY AND THE NIGERIAN ECONOMY POST-CONSOLIDATION By DR. B. B. EBONG GROUP MANAGING DIRECTOR/CHIEF EXECUTIVE UNION BANK OF NIGERIA PLC 1. 0 INTRODUCTION Banks facilitate economic growth in a variety of ways. In the first instance, they act as financial intermediaries between the surplus generating units and the deficit spending ones. This is a two-fold function involving the mobilisation of savings from the former group which are then channelled to the latter to support productive economic activities. This intermediary role is important in two respects. First, by pooling together savings that would have otherwise been fragmented, banks are able to achieve economies of scale with potential benefits for the users of such funds. Secondly, in the absence of banks, each person or business seeking credit facility would have had to individually look for those with such funds and negotiate with them directly. This is a cumbersome and timeconsuming process of double coincidence of wants. By matching the preferences of savers with those of borrowers therefore, banks help in overcoming such difficulties. It is pertinent to note that it is from this intermediation function that banks normally not only earn the bulk of their income by way of interest margin but also pay out returns to savers, compensating them for the opportunity cost of their money. It is important to bear this point in mind because, as we shall see later, if any bank is unable to recover the funds it lends out, its own existence as a going concern would be undermined rapidly and ultimately. This is to the extent that its ability to meet the withdrawal needs of depositors would be impaired. It is for this reason that the officials of any bank cannot afford to toy with the management of its risk assets. Towards ensuring that the funds they lend out are recovered, banks have found it expedient to provide business advisory services to their customers. The essence of availing their clients these services is to assure themselves that the beneficiaries adopt modern management policies and practices in running the affairs of their respective companies which benefit from borrowed funds. The ultimate goal is to guarantee that these customers are in a position o service their loan obligations as and when due. This, in turn, would enable banks meet their obligations to depositors while also earning a narrow margin to ensure business continuity and corporate growth. Banks also play a pivotal role in an economy by providing a mechanism for producers/buyers and consumers/sellers to settle transactions between themselves. They do this not only within a country but also across national boundaries through a highly efficient and technologically enabled payments systems. In the process, banks encourage specialisation and division of labour, a major advantage of which is the enhanced production and economic growth of the country. Furthermore, banks act as a conduit for the transmission of monetary policy. They provide a veritable platform when it comes to the implementation of monetary, credit, foreign exchange, and other financial sector policies of the government. Among other things, monetary policy is designed to influence the cost and availability of loanable funds with a view to promoting non-inflationary growth. The instruments available to the Central Bank to achieve this include open market operations (OMO), the cash reserve ratio (CRR), liquidity ratio (LR) and of course, moral suasion. The capacity of the banking industry to perform these functions effectively is, to a large extent, determined by the financial health of the individual institutions themselves and soundness and viability of the industry as a whole. For instance, where the majority of banks are adjudged to be weak and unhealthy, that will impair the ability of the industry to lubricate economic growth and vice versa. Against this background, the objective of this presentation is to examine the extent to which the banking industry has helped to stimulate economic activities in Nigeria and what the prognosis looks like in the post-consolidation era, come January 2006. To achieve its objective, this paper is organised into five parts. Following this introduction, we review the performance of the Nigerian banking industry between 2000 and 2004 in section II. The challenges facing the banking industry, which the current reform programme was designed to address, are highlighted in section III. In section IV, we present the prognosis and outlook during the post-consolidation era while section V contains the concluding remarks. 2. 0 THE PERFORMANCE OF THE NIGERIAN BANKING INDUSTRY IN 1990 – 2004 PERIOD. The banking industry in Nigeria has witnessed a remarkable growth, especially since the de-regulation of the financial services sector in the last quarter of 1986. In terms of headcount for instance, the number of banks increased by about 154. 8% from 42 in 1986 to 107 in 1990. It further increased by about 12% to120 in 1992. By 2004, however, the number had reduced to 89. This was because, some banks had to be liquidated on account of their dwindling fortunes. The number of bank branches also rose from 1,394 in 1986 to 2,013 in 1990, 2,391 in1992 and by 2004 in spite of the reduction in number of banks, it had reached 3,100. This translates to an inter-temporal increases of 44%, 18. 8% and 29. 7%, respectively. Given this scenario, the pertinent question agitating the critical mind is the extent to which the expansion in the number of banks and their branch network had impacted on the economy. Another way to evaluate the performance of banks is to carefully examine the credits they granted, both in terms of volume, distribution by sectors, and the maturity profile. The data on banks’ credit to the economy are shown in table 2 below. Table 2: Banks’ Credits to the Economy, 1990 – 2004 Year Aggregate banks’ credit (Net) (N billion) 42. 58 49. 41 59. 25 125. 75 162. 83 194. 05 266. 44 Growth rate (%) Net Domestic Credit Target (%) 13. 5 10. 6 13. 2 17. 5 9. 4 11. 3 12. 0 Actual (%) 17. 1 45. 3 69. 1 91. 4 29. 2 7. -23. 4 1990 1991 1992 1993 1994 1995 1996 16 19. 9 112. 2 29. 5 19. 2 37. 3 1997 1998 1999 2000 2001 2002 2003 2004 302. 31 378. 08 608. 44 807. 01 1,033. 64 1,302. 2 1,591. 2 2,078. 1 13. 5 25. 1 60. 1 32. 6 28. 1 26. 0 22. 2 30. 6 24. 8 24. 5 18. 3 27. 8 15. 8 57. 9 25. 7 24. 5 -2. 8 46. 8 30. 0 -25. 3 79. 9 64. 6 29. 1 12. 0 Source: Central Bank of Nigeria, Annual Report and Statement of Accounts, (various years) As the figures show, t he rate of growth of aggregate bank credit (net) to the domestic economy ranged from 13. % in 1997 to 112. 2% in 1993. However, according to the Central Bank of Nigeria, in its 2004 Annual Report and Statement of Accounts, an analysis of the sectoral allocation of these credits revealed that the less productive sectors of the economy continued to be favoured. For instance, in 2003, those sectors comprising agriculture, solid minerals and manufacturing got only 40. 2% of the credits. The situation worsened in 2004 as this figure further declined to 37. 0%. The corollary of this is that, on average, it was more attractive for banks to lend to such sectors as distributive trade, especially import financing, because the risks associated with such lending were relatively lower. The turn around time was equally shorter. Furthermore, as shown in the last column of table 2, actual domestic credit (net) consistently deviated from target for most of the years for which data was shown. If we take the targets to be representative of societal preference, what this means is that the flow of credit for each of those years was far from what was socially desirable. The quality of these risk assets has worsened progressively since 2002 as the statistics in table 3 demonstrate graphically. Table 3: Asset Quality of Nigerian Banks, 1990 – 2004 Year Ratio of non-Performing Credit to total Credit (%) Ratio of non-Performing Credit to Shareholders’ Funds (%) 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 44. 10 39. 00 45. 00 41. 00 43. 00 32. 90 33. 90 25. 81 19. 35 21. 5 16. 9 21. 3 21. 6 23. 08 344. 00 222. 00 299. 00 380. 86 567. 70 496. 00 419. 80 253. 09 89. 20 92. 2 77. 1 85. 9 89. 105. 3 Source: Nigeria Deposit Insurance Corporation, Annual Report Statement of Accounts, Various Issues The data in table 3 reveal that the ratio of non-performing credit to total credit declined from 45% in 1992 to 23. 08% in 2004. This means that of every N100. 00 lent out during these years, banks lost an average of N30. 60. These losses contributed in no small way to the erosion of shareholders’ funds as shown i n the table. These bad accounts represented 567. 7%, 419. 8% and 105. 3% of shareholders’ funds in 1994, 1996 and 2004, respectively. In deed, in the years 1990 to 1997, the shareholders’ funds had been impaired by non-performing risk assets in several multiples. The factors responsible for the poor quality of risk assets range from inadequate appraisal of credit proposals, unfavourable environmental factors that adversely affected the cash flow of the clients’ businesses to sheer unwillingness to repay credit facilities on the part of borrowers and the corresponding ineffectiveness of the rule of law to catch up with pathological loan defaulted some of whom moved round and ravaged one bank after the other. The deterioration in the quality of banks’ risk assets took its toll on the health of the industry as the outcome of the rating of all licensed banks by the Central Bank of Nigeria using the CAMEL parameters has shown. The result of that exercise, which is reproduced in table 4 below, has shown glaringly that the performance of banks in the country has deteriorated since 2001. Table 4: Rating of Banks Using the CAMEL Parameters, 2001 – 2004 2001 No. of % of Banks Total Sound 10 11. 1 Satisfactory 63 70. Marginal 8 8. 9 Unsound 9 10. 0 Total 90 100. 0 Category 2002 No. of Banks 13 54 13 10 90 2003 No. of Banks 11 53 14 9 87 2004 No. of % of Banks Total 10 11. 5 51 58. 6 16 18. 4 10 11. 5 87 100. 0 % of Total 14. 4 60. 1 14. 4 11. 1 100. 0 % of Total 12. 6 60. 9 16. 1 10. 4 100. 0 Source: Central Bank of Nigeria, Annual Report and Statement of Accounts, 2004 From the table above, it can be seen that the banks adjudged to be sound was consistently less than 15% of the tota l number for the four-year period. In addition, those whose performance was considered satisfactory represented as high as 70% of the total in 2001. By 2004, however, this group represented only 58. 6% of the total number of banks covered by the exercise. Apart from poor quality assets, other factors responsible for this state of affairs include under-capitalisation, weak corporate governance practices, and the challenges of ethics and professionalism. It is these factors that the on-going reform agenda seeks to address with a view to totally overhauling the system. These issues are examined in more details in the next section. 3. 0 CHALLENGES FACING THE BANKING INDUSTRY IN NIGERIA The current banking sector reform in Nigeria was designed to promote the viability, soundness and stability of the system to enable it adequately meet the aspirations of the economy in terms of accelerated economic growth and development. The reform agenda was motivated by the need to proactively put the Nigerian banking industry on the path of global competitiveness to enable it effectively respond to the challenges of globalisation. The overall objective is to guarantee that the economy and Nigerians do not remain fringe players in the context of a globalizing world. The major challenges that the reform was targeted at include inter alia, the following: Weak capital base. Most banks in Nigeria had a capital base that was less than US$10 million while the largest bank in the country had a capital base of about US$240 million. This compared unfavourably with the situation in Malaysia where the smallest bank had a capital base of US$526 million. The small size of most local banks, coupled with their high overheads and operating expenses, has negative implications for the cost of intermediation. It also meant that they could not effectively participate in big-ticket deals, especially within framework of the single obligor limit. The challenge of ethics and professionalism. In a bid to survive the stiff competition in the market, a number of operators had resorted to unethical and unprofessional practices. Strictly speaking, some even went into some businesses that could not be classified as banking. In appreciation of the enormity of the problems caused by the failure to adhere to professional and ethical standards, the Bankers’ Committee set up a sub-committee on â€Å"ethics and professionalism† to handle complaints and disputes arising from unwholesome and sharp practices. Poor corporate governance practices. There were several instances where Board members and management staff failed to uphold and promote the basic pillars of sound corporate governance because they were preoccupied with the attainment of narrowly defined interests. The symptoms of this included high turn over in the Board and management staff, inaccurate reporting and on-compliance with regulatory requirements. Gross insider abuses. One area where this was pronounced was the credit function. As a result, there were several cases of huge non-performing insider-related credits. Insolvency. The magnitude of non-performing risk assets was such that it had eroded the shareholders’ funds of a number of banks. For instance, according to the 2004 NDIC Annual Report, the ratio of non-performing credit to shareholders’ funds deteriorated from 90% in 2003 to 105% in 2004. This meant that the shareholders’ funds had been completely wiped out industry-wide by the non-performing credit portfolio. Over-reliance on public sector deposits. These deposits accounted for over 20% of total deposits in the system. In some institutions, such public sector funds represented more than 50% of total deposits. This was not a healthy situation from the viewpoint of effective planning and plan implementation, given the volatile nature of these deposits. On account of the huge reliance on public sector funds, a number of players did not pay adequate attention to small savers who normally constitute a major source of stable funds which should be channelled to finance the real sectors. Instead, they concentrated on a few high networth individuals, government parastatals and blue chip companies. It was in response to this situation coupled with the need to accord the small and medium enterprises sub-sector the priority it deserves that the Bankers’ Committee came up with the Small and Medium Enterprises Equity Investment Scheme (SMEEIS) with a view to redirecting credit flows to the sub-sector Distinguished Ladies and Gentlemen, the foregoing captures the situation in the banking industry at the time the reform agenda for the sector was conceptualised and introduced. One has taken time to highlight the challenges that the industry was grappling with to enable us better appreciate the rationale for the reform in terms of what it is intended to achieve. Even though the consolidation programme has thirteen basic elements, it is those relating to the minimum capital base for banks and mergers and acquisitions that have received the most attention in the ensuing public discourse on the subject. In the light of this, it might be useful to enumerate these elements, more so that they are at the centre of this discussion. These planks of the reform programme are: Increase in the minimum capital base of banks from N2 billion to N25 billion with December 31, 2005 as deadline for compliance; Consolidation of banks through mergers and acquisitions; Phased withdrawal of public sector funds from banks, beginning from July, 2004; Adoption of a risk-focused and rule-based regulatory framework for the industry; Adoption of zero tolerance in the regulatory framework particularly in the area of information rendition/reporting. All returns by any bank must now be signed by the Managing Director; The automation of the process for rendition of returns by banks and other financial institutions through the electronic Financial Analysis and Surveillance System (e-FASS); Establishment of a hotline and confidential internet address to enable Nigerians wishing to share confidential information with the Governor of the Central Bank of Nigeria to do so; Strict enforcement of the contingency planning framework for systemic banking distress; The establishment of an Assets Management Company as an important element of distress resolution; Promotion of the enforcement of dormant laws, especially those relating to the issuance of dud cheques and the law relating to the vicarious liabilities of the Board members of banks in cases of bank failure; Revision and updating of relevant laws, and drafting of new ones relating to the effective operations of the banking system; Closer collaboration with the Economic and Financial Crimes Commission in the establishment of the Financial Intelligence Unit and the enforcement of the antimoney laundering and other economic crimes measures; and Rehabilitation and effective management of the Mint to meet the security printing needs of Nigeria, including the banking system which constitutes over 90% of the Mint’s business. The likely impact of these measures on the banking industry and the economy are examined in the next section. 4. 0 ANTICIPATED IMPACT OF THE CONSOLIDATION PROGRAMME ON THE BANKING INDUSTRY AND THE NIGERIAN ECONOMY In this section, we will attempt to paint a scenario regarding the probable impact of the consolidation programme on the banking industry and, hence, the economy. In doing so, it is important to reiterate that even though the reform agenda is targeted at the banking industry, its ultimate focus is the Nigerian economy. In view of this, and in order to put the discussion in proper perspective, we would like to begin this section with a brief review of the performance of the economy between 2000 and 2004 which data are presented in table 5 hereunder: Table 5: Nigeria, Selected Macroeconomic Indicators, 2000 – 2004 Indicator Real GDP Growth Rate (%) Oil Sector Non-Oil Sector Manufacturing Capacity Utilisation (%) Gross National Savings (% of GDP) Gross Fixed Capital Formation (% of GDP) Inflation Rate (%) External Reserves (US $ million) 2000 5. 4 2001 4. 6 2002 3. 5 2003 10. 2 2004 6. 1 11. 3 2. 9 5. 2 4. 3 -5. 7 7. 9 23. 9 4. 5 3. 3 7. 5 36. 1 39. 6 44. 3 45. 6 45. 0 NA 11. 3 15. 6 13. 6 15. 3 7. 3 7. 2 9. 1 12. 0 16. 2 6. 9 9,910. 4 18. 9 10,415. 6 12. 9 7,681. 1 14. 0 7,467. 8 15. 0 16,955. 0 Source: Central Bank of Nigeria, Annual Report and Statement of Accounts, 2004 The data in table 5 reveal that, in real terms, the rate of growth of domestic output ranged from 3. 5% to 10. 2% between year 2000 and 2004. The average annual growth rate for the period was 5. 6%, which falls far short of the 10% minimum that is required for the country to meet the targets set in the Millennium Development Goals (MDG). Furthermore, the service sector and wholesale retail trade still account for a disproportionate share of total output, considering our stage of economic development. On the other hand, the real productive sectors like agriculture and manufac turing are yet to assume their pride of place in the economy. As can be seen from the statistics, capacity utilisation in the manufacturing sector was consistently below 50% throughout the five years. Among other things, this is a reflection of the undue competition that local manufacturers have had to face from their relatively more mature and efficient overseas counterparts. These are not healthy developments from the viewpoint of a developing country that is desirous of achieving sustained economic growth. Given the low level of domestic output, coupled with the rising demand, it is not surprising that the authorities were not able to keep the inflation rate below double digit as intended. It is this parlous state of the economy that the banking sector reform was designed to address at the end of the day. The expectation is that the reform programme will impact positively on the banking industry and thus put the economy on the path of sustainable growth. While most analysts have expressed serious concerns regarding the adverse impact of the consolidation programme on the level of employment, the authorities at the Central Bank of Nigeria have allayed such fears. While acknowledging that employment opportunities in the industry would shrink, at least in the short run, the management of the Bank is optimistic that the long-term positive effects of the reform programme on the labour market will be more far- reaching. The thrust of the argument is that at the end of the day, the consolidation programme will lead to a stronger and more robust banking industry that will adequately support the expansion of economic activities, especially in the real sectors of the economy. In this process of rejuvenating the economy, more job opportunities will be created. The consolidation programme will drastically alter and redefine the nature of competition in the banking industry. By significantly increasing the minimum capital base for banks, the policy has not only raised the barriers for new entrants, it has also reduced the number of banks in the system through the mergers and acquisitions. It will be recalled that hitherto, competition in the industry was essentially between those players that one may safely refer to as the â€Å"industry giants† on the one hand, and those popularly referred to as the new generation banks, on the other. Going forward, however, what we will witness is a battle for survival among the ensuing mega banks, all with extensive branch network. In the new dispensation, stability of individual institutions and, hence, safety of depositors’ funds is not likely to remain a major consideration in customers’ choice of which bank to patronise. Rather, emphasis will shift to the ability to deliver superior value to clients and stakeholders generally as well as the prices for bank products and services. As pointed out earlier, many banks in Nigeria had relied heavily on the public sector as a source of funds. Consequently, they did not aggressively explore available potentials in other market segments. This situation will, however, change with the withdrawal of public sector funds from the vaults of banks as part of the policy shift. We therefore expect that banks will focus more on those sectors that were hitherto underserved like the real, informal sectors, including the consumer market. They need to devise creative ways of effectively tapping into the opportunities in these market segments, both in terms of deposit mobilisation and the provision of credit facilities. Going forward therefore, banks are more likely to provide better support for sustained economic growth in Nigeria. The pressure to aggressively explore those market segments that were hitherto underserved will be reinforced by the desire on the part of the management of each bank to continue to generate attractive returns to shareholders. Currently, the average return on invested capital (ROIC) in the Nigerian banking industry is estimated at 38%. With the substantial increase in shareholders’ funds, however, each bank will need to generate a minimum of N9. billion in profit before tax in order to maintain the same rate of return. This is a daunting challenge that calls for creativity. To meet the challenge, banks will need to radically redefine their business models and strategies. The status of corporate governance in the banking industry is expected to improve remarkably following the change in ownership structure. This is because, even though poor governance practices cut across the industry, they were more pronounced in the privately owned institutions. Given the dilution of ownership in the new dispensation, the situation where individuals and their cronies had overbearing influence in the running and management of banks will become a thing of the past. Moreover, as public companies, each bank will now be subjected to a higher standard of governance in terms of information disclosure. 5. 0 SUMMARY AND CONCLUSION In this paper, we have examined the probable impact of the on-going banking sector reform on the Nigerian economy. In the process, we drew attention to the challenges facing operators in the banking industry that need to be addressed for the industry to make desired contributions to the orderly growth of the economy. These challenges encompass those of unethical and unprofessional behaviour, poor corporate governance practices, weak capital base, and over-dependence on public sector deposits. From the analysis, it is clear that the consolidation programme will impact positively on the economy for a number of reasons. First, the development is expected to have long-term beneficial effects on the level of employment considering that it will facilitate enhanced production in diverse sectors of the economy. The reform programme will also redefine the nature of competition in the banking industry such that each institution will have no choice but to assign priority to its capacity to deliver superior value to its clients, since this is what will ultimately make the difference between losers and winners. By denying anks access to public sector deposits, the reform will make it imperative for them to shift focus to those market segments that were largely unbanked and untapped hitherto. Furthermore, it is envisaged that the consolidation programme will have salutary effects on corporate governance practices in the industry. In concluding this discussion, it is important to reiterate that the realisation of these outcomes would depend on the effective implementation of the programme. In particular, it wou ld depend on how the banks that have embraced mergers and acquisition handle the post integration challenges that will face them. Where these issues are nor properly handled, the anticipated synergy may become elusive. BIBLIOGRAPHY Central Bank of Nigeria, Annual Report and Statement of Accounts, (various issues. ) Nigeria Deposit Insurance Corporation, Annual Report and Accounts, (various issued) Statement of Mckinnon, R. I. (1973), Money and Capital in Economic Development Washington, D. C. : The Brookings Institution. Oboh, G. A. T. (2005), Selected Essays On Contemporary Issues In The Nigerian Banking System. Ibadan: University Press Plc. How to cite Banking Industry in Nigeria, Papers

Gender Roles Comparing to Food Production in Neolithic Towns free essay sample

These characteristics were similar in that they affected the social standing among both men and women. Gender roles in agriculture and food provision in general correlate with the social standing of both men and women. However, the Neolithic towns like Catal Huyuk’s characteristics were far more advanced than the hunter-gatherer’s characteristics were. Social characteristics were very significant in the framework of both hunter- gatherer societies and Neolithic towns such as Catal Huyuk alike. In both societies, the women had the role of taking care of the children. However, while in the hunter-gatherer society men and women had equal roles (men doing the hunting and women doing the gathering), the Neolithic town’s gender roles contrasted greatly. In Neolithic towns such as Catal Huyuk, men did most of the food provision and agricultural-related activities, while women remained cooped up in the house or settlement and raised the children. This caused women to lose their social standing and freedom in Neolithic towns, while the fair balance of roles between men and women in hunter-gatherer societies allowed social standing to stay equivalent. We will write a custom essay sample on Gender Roles Comparing to Food Production in Neolithic Towns or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Religion in both hunter-gatherer societies and Neolithic towns allowed people to worship a being greater than themselves. In both societies, well developed religion existed. Also, both Neolithic towns and hunter-gatherer societies believed in the afterlife. In contrast, Neolithic towns had much more developed religion, having a shrine for every two houses in each town, while hunter-gatherer societies did not. Also, hunter-gatherer societies did not have a specific gender that controlled religion, while in Neolithic towns, women controlled the religious practices. In both Neolithic towns such as Catal Huyuk and hunter-gatherer societies, the economy was a crucial aspect in the formation of their society, because without an economy, there is no differential between one’s possessions, therefore there is no social classes dividing the people. Both societies produced food as their main source of economic activity, and traded plants and animals. Also, both societies used stone tools for daily activities and traded these stone tools regularly. However, Neolithic towns had domesticated plants and animals (bigger and healthier), while hunter-gatherer societies did not. Also, hunter-gatherer societies did not have or trade specialized crafts and pottery objects because their societies did not have enough time or spare enough people to make them, while Neolithic towns such as Catal Huyuk did. In conclusion, social, religious, and economic characteristics greatly impacted the formation of the hunter-gatherer societies and Neolithic towns such as Catal Huyuk alike during the years 8000 and 1500 BCE. Many differences such as the gender roles in agriculture and the religious practices definitely set the two societies apart from each other. The fact that women had a lesser part than men in the Neolithic towns was the origin of issues that would present themselves in the future.

Abduk Kalam Essay Example

Abduk Kalam Essay He was elected during the tenure of the National Democratic Alliance (India) coalition government, under Prime Minister Atal Bihari Vajpayee. [3] During his term as President, he was popularly known as the Peoples President. 4][5] Before his term as Indias president, he worked as an aeronautical engineer with DRDO and ISRO. He is popularly known as the Missile Man of India for his work on development of ballistic missile and space rocket technology. [6] In India he is highly respected as a scientist and as an engineer. Kalam played a pivotal organizational, technical and political role in Indias Pokhran-II nuclear test in 1998, the first since the original nuclear test by India in 1974. 7] He is the chancellor of Indian Institute of Space Science and Technology (Thiruvananthapuram), a professor at Anna University (Chennai), a visiting professor at JSS University in Mysore, and an adjunct/visiting faculty at many other academic and research institutions across India. Political views I n his book India 2020, Abdul Kalam strongly advocates an action plan to develop India into a knowledge superpower and a developed nation by the year 2020. He regards his work on Indias nuclear weapons program as a way to assert Indias place as a future superpower. It has been reported that there is a considerable demand in South Korea for translated versions of books authored by him. Kalam continues to take an active interest in other developments in the field of science and technology. He has proposed a research program for developing bio-implants. He is a supporter of Open source software over proprietary solutions and believes that the use of open source software on a large scale will bring the benefits of information technology to more people. Aerospace engineer After graduating in Physics from St. Josephs College, Tiruchirapalli, Abdul Kalam graduated with a diploma in Aeronautical Engineering in the mid-1950s from the Madras Institute of Technology. As the Project Director, he was heavily involved in the development of Indias first indigenous Satellite Launch Vehicle (SLV-III). As Chief Executive of the Integrated Guided Missile Development Program (I. G. M. D. P), he played a major part in developing many missiles in India including Agni and Prithvi although the entire project has been criticised for being overrun and mismanaged. We will write a custom essay sample on Abduk Kalam specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Abduk Kalam specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Abduk Kalam specifically for you FOR ONLY $16.38 $13.9/page Hire Writer He was the Chief Scientific Adviser to the Prime Minister and the Secretary of Defence Research and Development Organisation from July 1992 to December 1999. Pokhran-II nuclear tests were conducted during this period and have been associated with Kalam although he was not directly involved with the nuclear program at the time. Awards and honors On April 29, 2009, he became the first Asian to be bestowed with the Hoover Medal, Americas top engineering prize, for his outstanding contribution to public service. The citation said that he was being recognised for: making state-of-the-art healthcare available to the common man at affordable prices; bringing quality medical care to rural areas by establishing a link between doctors and technocrats; using spin-offs of defense technology to create state-of-the-art medical equipment; and launching tele-medicine projects connecting remote rural-based hospitals to the super-specialty hospitals. It added that he was an eminent scientist, a gifted engineer, a visionary, and a humanitarian. [12] On 13 September 2009, he was awarded the International von Karman Wings Award. 13] The Government of India has honored him with some of the countrys highest civilian awards: Padma Bhushan in 1981 Padma Vibhushan in 1990 Bharat Ratna in 1997 for his work with the ISRO and DRDO and his role as a scientific advisor to the Indian government. Kalam was the third President of India to be honored with a Bharat Ratna before being elected to the highest office, the other two being Sarvepalli Radhakrishnan and Zakir Hussain. He is also the first scientist and first bachelor to occupy the Rashtrapati Bhavan. After his tenure as the President he is now a visiting professor at J. S. S. University, Mysore. He has agreed to deliver a minimum of four lectures every year. Books and documentaries Kalams writings Wings of Fire: An Autobiography of APJ Abdul Kalam by A. P. J Abdul Kalam, Arun Tiwari; by K. Bhushan, G. Katyal; A. P. j. Pub. Corp, 2002. Scientist to President by Abdul A. P. J. Kalam; Gyan Publishing House, 2003. Ignited Minds: Unleashing the Power Within India by A. P. J. Abdul Kalam; Penguin Books, 2003. India 2020: A Vision for the New Millennium by A. P. J. Abdul Kalam, Y. S. Rajan; Penguin Books India, 2003. India-my-dream by A. P. J. Abdul Kalam; Excel Books, 2004. Envisioning an Empowered Nation: Technology for Societal Transformation by A. P. J. Abdul Kalam; TATA McGraw-Hill Publishing Company Ltd, 2004. Guiding Souls: Dialogues on the Purpose of Life by A. P. J. Abdul Kalam, Arun K Tiwari; Ocean Books, 2005. Children Ask Kalam by A. P. J. Abdul Kalam; Pearson Education, ISBN 81-7758-245-3 Indomitable Spirit by A. P. J. Abdul Kalam, 2006 The Scientific Indian: A Twenty-first Century Guide to the World around Us by APJ Abdul Kalam and YS Rajan Biographies Eternal Quest: Life and Times of Dr. Avul Pakir Jainulabdeen Abdul Kalam by S. Chandra; Pentagon Publishers, 2002. President A. P. J. Abdul Kalam by R. K. Pruthi; Anmol Publications, 2002. A. P. J. Abdul Kalam: The Visionary of India by K. Bhushan, G. Katyal; A. P. H. Pub. Corp, 2002. A Little Dream (documentary film) by P. Dhanapal; Minveli Media Works Private Limited, 2008. The Kalam Effect: My Years with the President by P. M. Nair; Harper Collins, 2008. - My Days With Mahatma Abdul Kalam by Fr. A. K. George; ISBN No:978-8190452953; Publisher: Novel Corporation, 2009. Bharat Ratna Dr. Avul Pakir Jainulabdeen Abdul Kalam born October 15, 1931, Tamil Nadu, India, usually referred to as Dr. A. P. J. Abdul Kalam, was the eleventh President of India, serving from 2002 to 2007. During his term as The President, he was popularly known as the Peoples President. Before his term as Indias president, he worked as an engineer with DRDO and ISRO and was awarded Indias highest civilian honor Bharat Ratna in 1997 for his work with ISRO and DRDO and his role as a scientific advisor to the Indian government. He is popularly known as the Missile Man of India for his work on development of ballistic missile and space rocket technology. In India he is highly respected as a Statist and as an Engineer. Kalam played a pivotal organizational, technical and political role in Indias Pokhran-II nuclear test in 1998, the first since the original nuclear test by India in 1974. He is a professor at Anna University (Chennai) and adjunct/visiting faculty at many other academic and research institutions across India. Although he is an engineer he has received many honorary doctorate degrees. With the death of R. Venkataraman on January 27, 2009, Kalam became the only surviving former President of India. Kalams father was a devout Muslim, who owned boats which he rented out to local fishermen and was a good friend of Hindu religious leaders and the school teachers at Rameshwaram. APJ Abdul Kalam mentions in his biography that to support his studies, he started his career as a newspaper vendor. This was also told in the book, A Boy and His Dream: Three Stories from the Childhood of Abdul Kalam by Vinita Krishna. The house Kalam was born in can still be found on the Mosque street in Rameshwaram, and his brothers curio shop abuts it. This has become a point-of-call for tourists who seek out the place. Kalam grew up in an intimate relationship with nature, and he says in Wings of Fire that he never could imagine that water could be so powerful a destroying force as that he witnessed when he was thirty three. That was in 1964 when a cyclonic storm swept away the Pamban bridge and a trainload of passengers with it and also Kalams native village, Dhanushkodi. Kalam observes strict personal discipline, vegetarianism, teetotalism and celibacy. Kalam is a scholar of Thirukkural; in most of his speeches, he quotes at least one kural. Kalam has written several inspirational books, most notably his autobiography Wings of Fire, aimed at motivating Indian youth. Another of his books, Guiding Souls: Dialogues on the Purpose of Life reveals his spiritual side. He has written poems in Tamil as well. It has been reported that there is considerable demand in South Korea for translated versions of books authored by him. - Dr. Kalam received an honorary doctorate from Carnegie Mellon University. Dr. Avul Pakir Jainulabdeen Abdul Kalam Born On: October 15,1931 Tenure Order: 11th President Took office: July 25, 2002 Predecessor: K. R. Narayanan Biography Dreams float on an impatient wind, A wind that wants to create a new order. An order of strength and thundering of fire. from a poem written by Dr A. P. J. Abdul Kalam Dr A. P. J. Abdul Kalam is the undisputed father of Indias missile program. He has breathed life into ballistic missiles like the Agni and Prithvi, which put China and Pakistan well under Indias missile range. It is too exhausting to track Dr Abdul Kalams achievements to date. In the 60s and 70s he was a trail blazer in the space department. In the 80s he transformed the moribund Defence Research and Development Laboratory in Hyderabad into a highly motivated team. By the 90s Kalam emerged as the czar of Indian science and technology and was awarded the Bharat Ratna. His life and mission is a vindication of what a determined person can achieve against extraordinary odds. Born on 15th October 1931 at Rameshwaram in Tamil Nadu, Avul Pakir Jainulabdeen Abdul Kalam studied at Schwartz High School in Ramanathapuram. After graduating in science from St. Josephs College in Tiruchi, he did his DMIT in AeronauticalEngineering at the MIT, Madras, during 1954-57. After completing his third year at MIT, Kalam joined Hindustan Aeronautics Limited (HAL), Bangalore as a trainee. Here, he worked on piston and turbine engines examining as part of a team. He also received training on radial engine-cum-drum operations. In 1958, when he came out of HAL as a graduate of aeronautical engineering, he had his long-standing dream of flying, as two alternative opportunities for employment. One was the job at Directorate of Technical Development and Production (DTD amp; P) of the Ministry of Defence and another was a career in the Indian Air Force. He applied at both the places, and the interview calls came simultaneously from both. He went to Delhi for an interview with DTD amp; P, which did not challenge his knowledge of the subject. Then he went to Dehra Dun for interview with the Air Force Selection Board. Here too, the interview was more on personality test, rather than testing his knowledge. He stood ninth in the batch of 25, and eight officers were selected to be commissioned in the Air Force. Kalam could feel the opportunity to join the Air Force slipping from his hands. Dissapointed at his rejection by the IAF, Kalam visited Rishikesh where he bathed in the Ganga and met Swami Sivananda a man who looked like Buddha. He introduced himself to the Swamiji, who did not react to his Muslim identity. He asked Kalam about the reason for his sorrow. Kalam told him about his unsuccessful attempt to join the Indian Air Force and his long-cherished desire to fly. Sivananda guided him saying: Accept your destiny and go ahead with your life. You are not destined to become an Air Force pilot. What you are destined to become is not revealed now but it is predetermined. Forget this failure, as it was essential to lead you to your destined path. Search, instead, for the true purpose of your existence. Become one with yourself, my son! Surrender yourself to the wish of God. After returning to Delhi, Kalam received an appointment letter from DTD amp; P. On the next day he joined as Senior Scientific Assistant, with a basic salary of Rs. 50/- per month. Here, he was posted at the Technical Center (Civil Aviation). He lost his resentment of failure, thinking he would be able to make aeroplanes airworthy if not fly aeroplanes. During his first year in the Directorate, he carried out a design assignment on supersonic target aircraft with the help of his officer-in-charge, R. Varadharajan, and won praise from the Director, Dr. Neelakantan. Then he was se nt to the Aircraft and Armament Testing Unit(A amp; ATU) at Kanpur to get shop-floor exposure to aircraft maintenance. Upon his return to Delhi, he was informed that the design of a DART target had been taken up at the DTD amp; P and he was included in the design team. After that, he undertook a preliminary design study on Human Centrifuge. He designed and developed a vertical takeoff and landing platform, and Hot Cockpit. Three years later, the Aeronautical Development Establishment (ADE) was formed in Bangalore and he was posted there. At ADE, Kalam served as a senior scientific assistant, heading a small team that developed a prototype hovercraft. Defence Minister Krishna Menon rode in Indias first indigenous hovercraft with Kalam at the controls. But for reasons never explained, the project which would have been a considerable international achievement in those days, was not encouraged. This was probably one of the reasons why he moved out of ADE in 1962 and joined Indias space program. During 1963-82, he served the Indian Space Research Organisation(ISRO) in various capacities. Here Kalam initiated Fibre Reinforced Plastics (FRP) activities, then after a stint with the aerodynamics and design group, he joined the satellite launch vehicle team at Thumba, near Trivandram and soon became Project Director for SLV-3. As Project Director, he was responsible for carrying out the design, development, qualification and flight testing of 44 major sub systems. The project managed to put Rohini, a scientific satellite, into orbit in July 1980. He was honoured with a Padma Bhushan in 1981. In 1982, as Director of DRDO, Kalam was entrusted with the Integrated Guided Missile Development Programme (IGMDP), Indias most successful military research task to date. The programme constituted of 5 major projects for meeting the requirements of the defence services and for establishing re-entry technology. The 5 projects were scheduled to be completed in a time frame of only 10 years and consisted of: Nag an anti-tank guided missile Prithvi a surface-to-surface battlefield missile Akash a swift, medium-range surface-to-air missile. Trishul a quick-reaction surface-to-air missile with a shorter range. Agni an intermediate range ballistic missile, the mightiest of them all From his SLV-3 experience, Kalam had learned the advantages of team work and of sharing the tasks with partners in private and public sector industries. In the new management structure of the missile program, Kalam, as the Chairman of the Programme Management Board, delegated almost all executive and financial powers to five carefully selected Project Directors and kept himself free to address the core technology issues. His task was to inspire and monitor over 20 institutions and partners outside ranging from large public and private sector suppliers to small specialist firms that needed seed money to take up the precision tasks. The missiles went up more or less on schedule: Trishul in 1985, Prithvi in 1988, Agni in 1989 and the others in 1990. The development and successful flight test of Prithvi, Trishul, Akash, Nag, and Agni established the indigeneous capability towards self reliance in defence preparedness. The successful launching of Agni surface-to-surface missile was a unique achievement which made India a member of an exclusive club of highly developed countries. The Trishul has the unique distinction of being capable of serving all three services. The establishment of the Research Centre Imarat(RCI), a campus 8km from DRDL, in 1988 was perhaps the most satisfying achievement for Kalam during the missile years. He received generous funding from the Government to build the futuristic centre, which is totally geared for work in advanced missile technologies. Its state-of-the-art facilities are set in a unique ambience and the level of comfort accorded to the individual worker is matched by few Ramp;D institutions. And Kalams interest in the environment saw RCI emerge as an oasis in a rocky wasteland. It has a small farm that meets the food requirements of those who stay in the RCI quarters. Kalam was awarded the Padma Vibhushan in 1990. On 25th November 1997, in appreciation of his contributions to Indian defence and science, Dr A. P. J. Abdul Kalam was awarded Indias highest civilian honour- the Bharat Ratna. In October 1998, he bagged the prestigious Indira Gandhi award for national integration(for 1997). After 10 years in DRDL, he went to New Delhi to take over from Arunachalam as Scientific Adviser to the Defence Minister reluctantly, many in DRDL felt. But the system created by Kalam had taken a firm hold in that decade and the missile programme passed on smoothly into its final phase of production and induction. In Delhi, Kalam as head of the DRDO had to deliver other prestigious projects, such as the Arjun MBT and the Light Combat Aircraft(LCA) projects. Strength respects strength, this is Kalams usual response to the question why India needs its own missiles or a battle tank or a combat aircraft. While management practices he adopted for the missile program have inevitably rubbed off on these projects, there are no miracles to be had in strategic development areas. There have been technical problems. Even in the missile program, work on the SAMs and the ATM is slower than anticipated. But Trishuls recent multiple test flights have demonstrated that the system Kalam put in place has inherent strengths. Kalam is by no means a miracle man. As the head of a vast network of laboratories whose products include avalanche-controlling structures in Kashmir, water desalination kits for the Thar desert, a world class sonar submarine finder for the latest warship INS Delhi, and infra-red night vision goggles for the Indian Army Kalams attention is necessarily a bit diffused. His self-effacing persona cloaks a formidable catalyst who can make people work. Kalam is happiest at the drawing board, in discussion with his scientists on how their dreams for the next millennium can be fulfilled. The projects envisaged include an air breathing hyperplane spacecraft that draws oxygen from the atmosphere rather than carry it all the way from the ground, reusable missiles and stealth technology. Kalam has shown that with adequate funding, freedom from procedural holdups and a people-oriented management, India can make products of internationally acceptable technical standards in a demanding arena like defence. Science, according to Kalam, is a global phenomenon. He feels there are a few areas where India can develop its core competence. These areas are software engineering, computer products and design, agriculture and food, aviation, defence research and space technology and chemical engineering. This will lead to a highly beneficial economic and social progress for the nation. Kalams advice to the youngsters of the nation is to dream, dream and dream and convert these into thoughts and later into actions. Also to think big. We are a nation of a billion people and we must think like a nation of a billion people. Only then can we become big. On 25th November 1999, Dr A. P. J. Abdul Kalam was appointed Principal Scientific Adviser to the Government of India and accorded the rank of a Cabinet Minister. His role was to advise on overall scientific development in the country on issues relating to scientific and technical policy in different sectors. Kalam also advised on matters relating to achieving technological self-reliance and foreign collaboration. On December 8, 2000, the Deputy Chairman of Planning Commission, Shri K. C. Pant conferred the Life-time Contribution Award in Engineering 2000 on Dr A. P. J. Abdul Kalam at the annual function of the Indian National Academy of Engineering in New Delhi. Speaking on the occasion, Kalam said that Engineering and technology should be used for the upliftment of the people living below the poverty line. On November 10, 2001, Dr A. P. J. Abdul Kalam quit as principal scientific advisor to the government. Sources close to Kalam, said he quit because of lack of executive authority. However Kalam had been for quite some time keen on pursuing academic interests and helping scientists across the country in developing their research capabilities. Thats why after quitting he took over the job as distinguished professor at Anna University. Dr Kalam has spent the past few years developing the concept of India Millennium Missions 2020 a blueprint for transforming India into a developed nation. He calls it the second vision of the nation and says he wants to focus on the children of India to ignite in their minds a love for science and the nations mission: a developed India. On July 25, 2002, Dr A. P. J. Abdul Kalam was sworn in as the 11th President of India by Chief Justice of India B. N. Kirpal in the Central Hall of Parliament at an impressive function telecast live across the country. Kalam took the oath in the name of God as a 21-gun salute boomed in the background. Things You Didnt Know About Kalam That Dr. Abdul Kalam is a bachelor and a teetotaler? That he recites the Holy Quran and the Bhagvad Gita daily and is equally at home with both Holy Scriptures? That as a young boy, he sold newspapers to enhance his familys income? That he is so modest about his achievements that at every felicitation ceremony he gives full credit for Indias success to his colleagues? Abdul Kalam Quotes Educationists should build the capacities of the spirit of inquiry, creativity, entrepreneurial and moral leadership among students and become their role model. Thinking is progress. Non-thinking is stagnation of the individual, organization and the country. Thinking leads to action. Knowledge without action is useless and irrelevant. Knowledge with action, converts adversity into prosperity. English is necessary as at present original works of science are in English. I believe that in two decades times original works of science will start coming out in our languages. Then we can move over like the Japanese. Humanity will require mega-missions for harnessing solar energy, drinking water from seawater through the desalination process and bringing minerals from other planets. In such a situation, the present reasons for conflict will become insignificant and unwarranted. I have this big library at home and my favorite poets are Milton, Walt Whitman and Rabindranath Tagore. I write poetry too. God has not promised Skies always blue, Flower-strewn pathways All our life through; God has not promised Sun without rain, Joy without sorrow, Peace without pain If a country is to be corruption free and become a nation of beautiful minds, I strongly feel there are three key societal members who can make a difference. They are the father, the mother and the teacher. If we are not free, no one will respect us. In India we only read about death, sickness, terrorism, crime. It means, people who are in high and responsible positions, if they go against righteousness, righteousness itself will get transformed into a destroyer. Let us sacrifice our today so that our children can have a better tomorrow. When you speak, speak the truth; perform when you promise; discharge your trust. Withhold your hands from striking, and from taking that which is unlawful and bad Look at the sky. We are not alone. The whole universe is friendly to us and conspires only to give the best to those who dream and work. My view is that at a younger age your optimism is more and you have more imagination etc. You have less bias. No religion has mandated killing others as a requirement for its sustenance or promotion. Tell me, why is the media here so negative? Why are we in India so embarrassed to recognise our own strengths, our achievements? We are such a great nation. We have so many amazing success stories but we refuse to acknowledge them. Why? Unless India stands up to the world, no one will respect us. In this world, fear has no place. Only strength respects strength. We have not invaded anyone. We have not conquered anyone. We have not grabbed their land, their culture, their history and tried to enforce our way of life on them. We must think and act like a nation of a billion people and not like that of a million people. Dream, dream, dream! We will be remembered only if we give to our younger generation a prosperous and safe India, resulting out of economic prosperity coupled with civilizational heritage. Why are we, as a nation so obsessed with foreign things? Is it a legacy of our colonial years? We want foreign television sets. We want foreign shirts. We want foreign technology. Why this obsession with everything imported? Thinking should become your capital asset, no matter whatever ups and downs you come across in your life.

Discuss the pathogenesis of measles virus infection The WritePass Journal

Discuss the pathogenesis of measles virus infection Conclusion Discuss the pathogenesis of measles virus infection IntroductionInfection and SpreadSymptomsSubacute Sclerosing Panencephalitis (SSPE)VaccinationConclusionRelated Normal 0 false false false MicrosoftInternetExplorer4 Introduction Measles virus (MV) is a member of the paramyxovirus family and has a single stranded RNA genome.   The viral genome encodes for six structural proteins: Haemagglutin (H), Fusion (F), Nucleoprotein (N), Phosphoprotein (P), Large (L) polymerase protein, and Matrix (M) protein and two non-structural proteins: C and V (Griffin,   2010). The structure of the virus is shown below.  Ã‚   Fig 1.   The structure of the Measles virus Ref:microbiologybytes.com/virology/Paramyxoviruses.html The majority of measles cases occur in children and in those who are fit and healthy, results in life long immunity without complications.   Measles virus has been eliminated in the western world since 2000 through an efficient vaccine programme, however, it is a different scenario in developing countries were deaths arise due to lack of vaccine administration and malnourishment of children (Fontana et al, 2008).  Ã‚   For example in 2008, 164 000 people died from measles virus of these 95% were in low-income countries (www.who.int/mediacentre/factsheets/fs286/en/).   Although infection with MV produces an efficient immune response that is maintained for the rest of the individuals life, it also results in a transient state of immunosuppression that can last for several weeks.   This leaves the patient susceptible to secondary infections by opportunistic pathogens which account for the majority of measles associated deaths (Sevet-Delprat   et al, 2000).  Ã‚   The exact me chanism of the immunosuppression is still unknown however many theories have been suggested. Infection and Spread The MV is spread through aerosol transmission in the cough or sneeze of an infected person.   The virus is extremely contagious and can remain in the air or on a surface for up to two hours (Stalkup, 2002).   The route of entry for the virus is through the respiratory tract and once infected, the virus will incubate for an average of 10-12 days before any symptoms are seen.   Infection is initiated by the attachment of the H protein to the host cell receptors, which results in the fusion of the envelope of the virus with the host cell membrane.   This fusion of membranes causes the release of viral RNA into the host cell cytoplasm.   After the RNA has replicated, using host cell machinery, new virus particles are assembled using the M protein and bud from the host cell membrane to infect other susceptible cells (Swart, 2008).   The host cell receptors for the measles virus are CD46, a complement regulatory protein that is found on all nucleated cells and the Signalling Ly mphocytic Activation Molecule (SLAM/CD150) which is found on the surface of both T and B lymphocytes as well as macrophages and mature Dendritic cells (DC) (Yanagi et al, 2006).   In vitro studies have found that vaccine strains of the measles virus use CD46 and SLAM as their receptor however wild-type MV only recognizes CD150 (Ferreira et al, 2010).   There has been some debate over the exact cell that is involved in the initial infection with MV.   It had previously been thought that the virus infected epithelial cells lining the nasopharynx (Stalkup   et al, 2002) however more recent studies have shown that these cells do not bear the MV receptors SLAM which facilitate wild-type viral infection therefore further studies are required to identify this unknown receptor .   It has been suggested that alveolar macrophages and DC lining the respiratory tract are the initial cells involved in measles infection.  Ã‚   This was demonstrated in a study using mice that expressed humanized SLAM.   These mice were infected intranasally with wild type measles virus expressing green fluorescent protein.   The nasal associated lymphoid tissue (NALT) was then extracted from these mice at different time points (1,2 or 3 days).   Results showed that alveolar macrophages were the first cells to be infected by the measles virus and not the epithelial cells (Ferreira et al, 2010). DC’s are the main antigen presenting cells of the immune system and are used by other viruses to infect lymphocytes for (example the HIV virus) (Witte et al, 2008).   Therefore DC may provide an important route of transport for MV to secondary lymphoid tissue.   The role of DCs in measles infection is further indicated by the identification of DC-SIGN which is an accessory receptor that has been identified on MV susceptible cells and is thought to assist MV infection of CD150 expressing DCs (Yanagi, 2006).   Furthermore, large numbers of DC-SIGN positive DCs have been found to be present in the epithelium of the respiratory tract which demonstrates their potential primary role in MV infection of (Ludlow et al, 2010 ; Witte et al, 2008). An alternative theory is that epithelial cells are infected in the latter stages of infection by lymphoid cells facilitating viral spread by the respiratory route.   This would mean that epithelial cells are infected at the basolateral cell surface rather than the apical surface.   This was demonstrated by a study that looked at mutated MV strains that could not bind to the as yet unidentified Epithelial Cell receptor (EpR) but could still recognise the SLAM receptor.   Results showed that the macaques developed the rash but could not shed the virus which suggests that the EpR is a basolaterally expressed protein that is important for the spread of the virus at the infective stage (Leonard, et al, 2008).   A study by Ludlow (2010) supported these findings by showing that wild type MV could not infect primary columnar epithelial cells by the apical surface further demonstrating the potential role of epithelial cells in latter stages of infection rather than initial stages as p reviously thought. In response to viral infection the innate immune system responds by producing inflammatory cytokines to protect cells from viral infection.   These cytokines include type 1 interferons (IFN) such as   IFNÃŽ ± and ÃŽ ² which are induced in response to RNA viruses.   IFNs induce an anti-viral state in neighbouring cells and increase the expression of class 1 Major Histocompatibility Complex (MHC) molecules on the infected cell surface which will present the viral antigens to CD8+ T cells.   CD8+ T cells clear the infection by cytotoxic T cell mediated killing of the infected cell (Abbas Ltchtman, 2005).   To overcome these host cell defences, viruses have ways to evade the immune system.   MV virus protein V and C have been shown to downregulate IFN production in vitro and this includes both attenuated and wild type strains (Fontana et al, 2008).   Through the inhibition of the proinflammatory cytokines MV can infect more host cells.   MV may also use the innate immune system to enhance viral spread and pathogenesis by using Toll like receptors (TLRs) which are found on the surfaces of cells that activate the immune system by recognising bacterial and viral pathogens.   The binding of TRL2 on human monocytes by MV H protein has been shown to induce production of interleukin 6 (IL-6) which upregulates expression of SLAM the primary receptor for MV (Beiback et al, 2002). Once the virus is picked up by antigen presenting cells it is carried to the secondary lymphatic tissue were it can replicate in T cell, B cells and activated monocytes with lymphocytes being the main target cell of MV infection (de Swart et al, 2007).   These infected cells can be seen in the blood 7-9 days after infection (Griffin, 2010).   It is thought that through these infected lymphoid cells that the virus is able to infect epithelial and endothelial cells lining organs including the liver, brain and skin (Moench et al, 1988).   In order for MV to infect these organs it must overcome these endothelial cell barriers.  Ã‚   It has been shown in cell culture that wild type MV infection may infect endothelial cells by increasing the expression and activation of leukocyte integrins which bring infected T cells into close contact with these cells leading to their infection (Dittmar et al, 2008). Symptoms The initial symptoms of MV are very similar to those of the flu including runny nose, conjunctivitis and cough which is accompanied by a fever of 104-1050F that lasts up to 4 days (Stalkup, 2002).   The characteristic feature of MV is the red rash that appears beginning on the face and behind the ears, which spreads to the rest of the body (please see Fig 2 below).   During this time the person is highly contagious and remains so until the rash disappears (www.cdc.gov/vaccines/pubs/pinkbook/download/meas.pdf). Fig 2 shows a child with an extensive rash caused by the Measles virus. Ref: vaccineinformation.org/measles/photos.asp Small white spots known as Koplik spots may also be seen in the inside the mouth which is a diagnostic indicator of measles and appear one day before the rash (Perry Halsey, 2004). The appearance of the rash is due to the immune systems attack of the systemic infection of epithelial cells and biopsies of the rash have shown infiltration of CD8+ and CD4+ T lymphocytes in the rhesus monkey (Permur et al, 2003). An individual who in infected with measles virus will recover within about 10-14 days but may remain vulnerable to secondary infections including pneumonia and diarrhoea for a few weeks.  Ã‚   This was first noted by von Pirquet who noticed that individuals recently infected with the MV failed to respond to the tuberculin skin test and this has led to many studies into the reasons for this immune suppression (Griffin et al, 1994). One reason for the immunosuppression seen after a measles infection is the switch from a T helper 1 (Th1) CD4 response to a T helper 2 (Th2) CD4 response.   Initial MV infection results in the production of a Th1 response which is necessary to eliminate the pathogen and is marked by increased production of IFNÃŽ ³ however as the rash is cleared this changes to a Th2 response which is important in the production of measles specific antibodies (Moss et al, 2004).   Th2 cytokines IL-4 and IL-10 have been shown to be elevated for weeks in those who have had MV (Moss et al, 2002).   IL-10 suppresses the immune system by inhibiting lymphocyte proliferation and macrophage activation therefore may have a key role in failure to generate a Th1 response after MV infection (Sato et al, 2008). IL-12 is primarily produced by activated macrophages and DCs and has a pivotal role in the generation of a cell mediated immune response as well as directing CD4+ T cells to differentiate into Th1 cells (Abbas Lichtman, 2005).   Studies have shown that MV infection of DCs inhibits IL-12 production which would lead to an environment favouring a Th2 cell response (Servert-Delprat et al, 2000).   Furthermore peripheral blood monocytic cells taken from patients with measles have been shown to have a prolonged decrease in IL-12 (Atabani et al, 2001).   Stimulation of DCs through TLR4 also results in inhibition of IL-12 in mice expressing human SLAM receptor (Hahm et al, 2007). As lymphocytes are the main targets for MV infection and replication the immunosuppression seen after infection may be due to as decrease in circulating lymphocytes.   However, studies have shown that lymphocyte numbers quickly return to normal levels and therefore cannot account for the immune suppression seen weeks after infection (Griffin, 2010). Subacute Sclerosing Panencephalitis (SSPE) SSPE is a rare neurological complication of MV infection that affects 1 in a million measles cases although there is an increased risk with children infected with the measles virus before age 2 and males more than females (Norrby Kristensson, 1997).   The characteristic symptoms of SSPE are deterioration of mental and motor functions as a result of destruction of brain tissue.   These symptoms typically begin to manifest 7-10 years after primary viral infection and ultimately result in death within 2 years (Stalkup, 2002).   Patients with SSPE have high levels of measles specific antibody circulating in their blood and cerebrospinal fluid (CSF) yet the virus is not eliminated (Barrero et al, 2003).   It is thought that the virus mutates inside the neurons which allows it to evade the immune system however these mutations may alter the host cells leading to the generation of the immune response (Gutierrez et al, 2010).   However the mechanism by which neurons are infected i s still unknown as no receptors have been identified.   There is no cure for SSPE although treatment of individuals with Interferon ÃŽ ± and Isoprinosine has been shown to slow down the progression of symptoms in some individuals (Gascon et al, 1993). Vaccination The first MV vaccine was produced in the 1960s which was formalin-inactivated with alum.   This vaccine produced a condition known as atypical measles which resulted in some individuals experiencing symptoms which were often worse than wild-type measles, when they came into contact with someone who had measles (deSwart, 2008).   In 1963, Enders measles vaccine was developed which was a live attenuated vaccine (Stalkup, 2002).   This vaccine is grown in cell culture fibroblasts from chicken embryos and is unable to produce its full pathogenic effect but induces an adequate life long immune response (PÏ‹tz et al, 2003).   The measles vaccine has resulted in a 99% fall in the number of measles cases that were previously seen annually in the United States (Stalkup, 2002).   MV could potentially be irradicated but this is dependent on high vaccine coverage.   The World Health Organization (WHO) has a policy in place which has set a goal of reducing the death rate from MV in children under 5 by 2015 (who.int/mediacentre/factsheets/fs286).   MV infection can also lead to blindness in children who are Vitamin A deficient and the WHO have recommended that all children with measles are given vitamin A supplementation to combat blindness (Semba and Bloem, 2004). The measles vaccine is part of the Measles Mumps and Rubella (MMR) vaccine that is given in two doses.   The vaccine is administered intramuscularly and the first injection is given to children around 13 months (nhs.uk/conditions/mmr/Pages/Introduction.aspx).   The vaccine is not given before this age because these children will have maternal antibodies which would interfere with the vaccine and not generate an appropriately high enough immune response (Moss et al, 2004).   A second dose of the MMR vaccine is given to preschool children as a booster as 2-5% of individuals fail to produce an appropriate protective immunity to the first inoculation (cdc.gov/vaccines/vpd-vac/combo-vaccines/mmr/faqs-mmr-hcp.htm).   New methods of delivery of MMR vaccine have been investigated such as the use of aerosol vaccine which would mimic natural measles infection and the use of DNA vaccine administration.   Aerosol vaccine has been found to generate an effective immune response that is equal to that of the currently used vaccine and may also overcome the interference from maternal antibodies however clinical trials are still in progress (Heno-Restrepo et al, 2009). Furthermore, trials into the use of DNA vaccines have proposed a potential to vaccinate children as young as four months (Pasetti et al, 2009). The MMR vaccine has been in the public eye for many years as a result of a paper by Wakefield and colleagues in 1998 which claimed that there was a link between the administration of the MMR vaccine and the development of autism (Farrington et al, 2001).   Many studies have been carried out to either prove or disprove this study as these claims led to fear amongst parents regarding vaccination of their children and uptake fell to 80% between 2003 and 2004 as a result of this (Bedford Ellimen, 2010).   As stated in the introduction MV is so contagious even a minor drop in vaccine coverage can lead to a large number of cases.   In 2010 after an extensive investigation by the General Medical council it was finally confirmed that the paper by Wakefield was unfounded (Godlee et al, 2001). Conclusion Although cases of MV are rarely seen in this country it results in the death of many children in the developing countries.   Currently vaccination is given at 13 months of age however many studies are ongoing that could potentially provide a vaccine that could be administered earlier resulting in children being protected earlier and limiting hosts for the virus.   Furthermore, malnutrition is one of the major contributing factors in the deaths from measles virus, tackling this problem would also decrease the mortality rate.   As stated above MV poses a problem in that infection generates a life long immune response but also leaves the host susceptible to secondary infections. The exact mechanism for this is not yet known therefore more work is needed to answer this problem and potentially combat this immune suppression. /* Style Definitions */ table.MsoNormalTable {mso-style-name:"Table Normal"; mso-tstyle-rowband-size:0; mso-tstyle-colband-size:0; mso-style-noshow:yes; mso-style-parent:""; mso-padding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; mso-pagination:widow-orphan; font-size:10.0pt; font-family:"Times New Roman"; mso-ansi-language:#0400; mso-fareast-language:#0400; mso-bidi-language:#0400;}

Youtube-The Democratization of Art Essay Example | Topics and Well Written Essays - 750 words

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Crtical response to Duane's Caught Inside Essay

Crtical response to Duane's Caught Inside - Essay Example In this way, bits and pieces of the aforementioned points are revealed in an almost imperceptible way so that the reader gains a more full and complete understanding of the lifestyle and world-view of the individuals involved in the actions of this book. As a means of understanding this unique approach, this author will focus upon Chapter 13 of Duane’s book and enumerate on some of the pertinent themes, sub-themes, and topics that are discussed as a means to outline and understand the level of approach and detail that the author gives to the reader. The material within this particular chapter is organized and presented by means of a journey. As the story teller meets with a friend and ventures to the house of a third party, a general discussion on the life of a surfer, what is important, what matters, traveling, relationships, danger, and the ever present worries over where the funding for the next adventure will come from are all discussed. In this way, the storyteller finds himself perennially comparing his own financial and personal situation to that of those that the story introduces. This is carried out by means of actual physical comparisons to the type and quality of the vehicles that are driven, and the niceties that present themselves within the house of the individual who is being visited. However, all of this description, discussion, and analysis serves as but a type of lead up to the action that is going to take place as the three men join together and embark on a rapid trip to the ocean side to engage in an afternoon full of surfing. The almost religious overtones, the writer describes the awe inspiring spiritual elements that surfing provides to the practitioner (Lanagan 283). Whereas doing this without the background story would not engage the reader and would prove to be nothing more than a very long winded soliloquy of the benefits of a particular type of lifestyle, by interweaving the information regarding this type of lifestyle and rel ying on other means of conveyance (rather than the speaker himself), the author is able to present a clear and well explicated set of reasons for why the particular lifestyle advocated and described is perhaps far superior to almost any other model that is currently in existence. Although this particular life is not for everyone, as the author notes, the benefits that it offers those who engage with it can never truly be understood or explained. Using the wife of the gentleman that is visited as an example, the author works to show the means by which even those that do not understand the lifestyle can at least appreciate the significance that it engenders within the lives of those that they love and respect. The approach that the author takes towards revealing the subject matter and discussing it within this particular chapter is necessarily experiential. Although no model of research can attempt to capture the attention of an individual in the same way that a firsthand account of a dventure and excitement can, the author works to bring out the experiential factors that have encouraged countless others in the past to pursue their dreams at the expense of some semblance of

The Change Management Theory Business Essay

The Change Management Theory Business Essay Our current era is experiencing massive global and environmental changes than ever before. Observing alone the technological developments, it becomes clear that the most powerful changes have happened over the past fifty years. Managements practice and theory is that todays business environment is especially challenging for large companies because of the rapid pace at which technologies, business processes and markets are evolving. External changes, such as globalization, workforce, economic shocks, competition, and world politics are some of the vast external environmental forces that trigger change upon organizations. These forces are uncontrolled and unforeseeable and therefore it is vital that an organization has the capabilities to adapt to whatever environment changes might happen. As opposed to external change forces, internal changes forces lie within the organization. Elements such as declining efficiency, the raise of employee expectations in tact with harsh demands of the work environment are all internal forces that trigger a need for organizational change. Some theories[1] suggest that by planning carefully you can manage internal change easily by identifying the need for change, while others argue that change is not something that happens in isolated insidences, thus not something you can plan[2]or control. The changing business environment affects the organizations ability for survival, as their survival tactics are being challenged. Organizations constantly have to reeducate themselves keeping every level or department in the organization equally re-informed. Consequently, more and more organizations direct their attention towards the potential benefits of a corporate merger and acquisition (MA). MAs are often pursued in order to acquire a larger share of an existing market, enter new markets, eliminate competitors, acquire expertise or assets, transfer skills, save costs, increase efficiencies or capitalise on synergies. Unfortunately, most organizational change efforts are poorly conceived and implemented, a fact that causes most change efforts in organizations to fail[3]. Through the last century, companies paid more attention to strategy, economics and finance. However, today many researches[4] argue that a major cause of the high rate of change failures is the fact that managers do not realize that if they do not change their culture to support the changes they are making in strategy, structure, and technology. If not, the desired changes will fail and shift back into a fit with the original culture[5]. Furthermore, MA can change the cultural aspect of an organization due to new working environment. In this view, Hitt et al. (2001) argue that acquisitions or mergers can create unfriendly working atmosphere sometimes due to significant differences between two cultures of the merging firms, which can make working process difficult. However, thisprocess can be quit challanging as Schein[6] ague cultural assessment is usually not possible because the negotiations leading up to the merger/aqcusition have to be kept secret. Thus, the merging parties do not discover important differences until they face them MA is a strategic choice various companies encompases to enter rnew market opportunities and possiblity to increase revenue beyond geographical boundaries. However, new opprtunities have also broad new challanges to the organizations. When a company changes, either by changing its location or grothws this effects its internal and external environment. Researchers agree the critical importance of managing the human perspectives of the process in order to accomplish the MA goals and to achieve the needed integration. That is why this paper has chosen to focus on the cultural and people aspect of change mangement process within MA Change Management theory Change management literature is differentiated between two dominant perspectives with regard to implementing successful change in organization. One meaning refers to the systematic and planned view and the other the chaotic emergent view of organizational change.Carl Weick prominent scholer within change management breaks with the traditional wiev of organizational change and argues that orgnazationas should implement a process of chnage management. That is continous emergent change, when contrasted to the planned view, can be defined as the realization ofa new pattern of organizing in the absence of explicit a priori intentions[7] in this view changing is a continuous activity at local levels where people interact and make sense of their own social reality[8]. Continuous changing is a collaborative approach to change management where employees at the operational level as well as mangers are involved in decesion making processes. It brings a holistic view to the organization focuses on interweaving activities, interrelations, and sensemaking. Change is viwe as a continuous activity internally within the organization where people interact and make sense of their own social reality (Weick, 2000, 2001). People make sense oftheir social reality by sensemaking activities, narratives, practices, and multiple realities may be voiced and contribute to small small-scale changes. These small small-scale changes can be decisive if they occur at the edge of chaos or in a context of rebalancing and unfreezing. Small changes can have large consequences because of self-reinforcing feedback loops and relations in a social network. In interconnected systems small changes emerges through the diversity and interconnectedness of many micro-conversations (Ford Ford, 1995). Micro-level changes provide a platform and a context for transformational change on a macro-level. as in Kotter ´s eight phases or stages a company must successfully complete in order to obtain lasting change (1995) [9]and Lewin ´s Freeze change model(1943)[10]. Thus, the aim is to implement new methods and systems. This also implies that these changes lie within the organizations control although change-triggering events might have come from outside the organization. According to Kotter successful change management is achieved when management carefully plans the change initiative. His theory is based upon the 8 step model which has a very systematic view upon organizations and its environment. The 8 step model is build upon eight actions: create a sense of urgency, recruit powerful change leaders, build a vision and effectively communicate it, remove obstacles, create quick wins, and build on your momentum. If you do these things, you can help make the change part of your organizational culture[11]. Follwing the perspective of Lewin, the change process must contain three central steps; un-freezing, change and freezing[12] . Within un-freezing, inner resistance to change delimits the ability of the individual to move from the present to the desired state. Move seek to take into account all the forces at work and identify and evalutae, on a trial and error bassis, all the available options[13] . The refreezing step establishes ways to make the new level of behavior relatively secure against change (Lewin, 1947, p. 344). This step could include installing a new reward system to reinforce the new, desired behavior or restructuring certain aspects of the organization. An additional meaning refers to the complexity view s as in Ralp Stacy (2003)[14] of organizational change management. His theory is build upon the view of James Gleick. Gleick ´s theory is based on Chaos theory and complexity theory. Later on, Stacey further developed this theory and applied it to human action, as chaos theory originally intended for mathematical deterministic behavior. Chaos theory ´s key message is that our intentional interacting with each other produces intrinsically unpredictable outcomes in the long term, then our planning efforts cannot lead to outcomes we intended; something else will happen[15]. However, Stacey does not imply that then everything is utter chaos. As he states predictably unpredictable, thus a system producing patterns that are recognizable and paradoxical. Complex Responsive Processes (CPR) can give insight for top management on how to become more emergent and respond without knowing long term consequences. However, from a bottom line result, business profit maximizing perspective, this might be hard for managers to switch to instantly. It might cost millions. The strategic problem lays within top management being blind to internal need for change. The existing external commercial strategy is distant even unknown to the employees and there is no existing internal strategy statement. This causes the employees to think of their job as one project at a time, missing focus on the development of the company as a whole. This could lead to employees working without a target or a vision together with the company. CPR approach acknowledges the fact that employees are not machines and if the original strategy doesnt produce what it intended. Thus, introducing a case an acquisition between IBM and DMdata in 2004 where IBM management got surprised by the outcome of employee dissatisfaction and its complexities. This paper adresses IBMs acquisition of DM Data as the key reference in this synopsis. The case study, is used in relation to the acquisition are build upon the experiences the author of this paper had working as a trainee in DMdata both before and after the acquisition. This particular acqusition opened the authors eyes towards the challanges organizations face when implementing new initiatives follwing a merger or acqusition. Why the author find it oparticularly releveant for this course. Introduction of Case study First, I will make a brief introduction of the two companies to get a better understanding of the organizations and why these may have led to some challenges for both companies. Secondlymost relevant reasons that lead interesting to observe the case from the corporate culture point of view, which means concerning the essence of core businesses, these are essentially different enforcing different values and priorities concerning job and goals, reflecting with these important inputs potentially conflictive in the integration process. The conditions mentioned present it as a very appropriate and meaningful selection to develop a case study research. IBM was founded in 1742 and was established in the USA. It is one of the worlds leading companies in IT. historical heritage is very important for the company, in term of know-how but also, in term of marketing IBM has approximately 340.000 employees worldwide and is represented in more than 160 countries[16]. Given IBMs size and origin it brings certain values and norms to the business which is grounded in its culture and identity. On the contrary DM data was one of the biggest software companies in Scandinavia. It was established by two Danish companies; Danske Bank and Maersk Data. The company encompassed 800 employees located in Aarhus and Copenhagen. Even though the company only existed for seven years it managed to create outstanding profits per year.[17] The acquisition between IBM and DM data took place in 2004. After the acquisition, 13% of the employees resigned from their job per year. Many employees mentioned the matrix structure and the American way of doing things as the reason for resigning. [18] The differences of the organizational culture and the way we do thing in each company were fundamentally different. When you attempt to change the core of a companys values and norms its bound to create many challenges[19]. Both companies, are facing changes in their organizational structures through a MA. That is,the processes, politics, values and frame of references. Each participant of this processes either the acquiring IBM or the acquired DMdata; have to face different process and challenges. Clearly, both companies get affected part of their identity and way of doing things. However due to limited access to the IBM employees this paper focuses on the view of Dmdata employees. Analysis of IBM change management initiative IBM managements intended strategy was to incorporate Dmdata as a datterselskab to the main organization of IBM, althoughthey succesed to acquire Dmdata the acqusition broth various unintended changes with it. As mentioned earlier critically positioned employees left the organization and a hostile and confusing environment arised. The unsuccesfull change management of the new initiatives within Dmdata, resulted in inefficient resource utilization, poor products and services[20], and frusttration amon employees and management. IBM management approach to the acqusition can be characterized as a controlling. That is, Some of the DMdata employees reactions came from poor communications such as : IBM CEO Lars Mikkelgaard used the word fusion when he visited us for the first time, when it was in fact a takeover[21]. Other reactions were frustration about changing from national to an international company, from hierarchical to matrix structure and from small to big company. He emphasizes the success they had in DM data on several occasions by saying: Those who sit down and think about it, then DM-data was a success story. Built from 53 men to something IBM would buy for x billions later[22]. He feels overlooked by IBMs management style and does not consider it as suitable for Danish culture: In Denmark, IBM is derived by this American team spirit. The DM-data culture is influenced by the culture of Maersk and Danske Bank, which is very Danish[23]. And I have also been lecturing about quality in life etc. But when you are bought up, you come into an identity crisis. Furthermore, Dmdata employees lacked an incentive to adapt to the changes as they felt they new best as one employee states He stereotypes the Americans There are several States in the US where American Indians are not allowed to walk together more than four at a time. If they do, then you are allowed to shoot them.[24] And he goes on elaborating his indignation of doing things the America way are not allowed to have loaded weapon, so we can laugh a bit of it[25] here he shows that he does not take IBM seriously. The HR Manager talks a lot about how successful the company was, but ridicules of IBM to almost having gone bankrupt. IBM has also been close to going under in 1993. There it was close enough to not exist anymore. And here it is clear that one as a giant company with the ambitions one had, establishes control preparations. These are then some of the procedure which we have to comply to[26]. Follwing Lewin effective change could not tkae place unless there was a felt need be all those concerned[27]. Also in this view, Kotter agues for establishing a sense of urgency. That is people need a good reasontodothingsdifferently, faling this might have created the anxiety and unsecurity Dmdata employees felt. The second step of Kotters 8step model might have easen, having an aly . Short term wins Nadler and Tushman 1995 suggest that there are mainly two types of change that organisations are faced with, namely first- order and second- order changes[28]. . First -Order changes are characterized by small adjustments in system, processes or structures, whereas Second order changes are characterized by transformational which affects the core identity and values of an organization. Nadler and Tushman refer to transformational change as discontinuous change. They further dissects the changes as follows: incremental (tuning and adaptation). Tuning as being anticipatory and adaptation as being reactive. Discontinuous (re-orientation and recreation) change. Re-orientation as being anticipatory and recreation as being reactive. Acquisitions such as IBM/ DMdata are generally regarded as a second- order change. Although IBM and DMdata are in the same industry the size of the two companies together with the cultural heritance of the two are dissimilar. There are national cultural differences, structural differences together with strategic differences which may caused frustration among the employees at DMdata. Furthermore, it is important to into consideration when characterizing whethera change is transfomational or transactional this can be viwed from two sides in mergers and aqcusiotions.remember althought the acqusition can be carachterized as frame bending for DMdata Following Palmer, Dunford and Akin[29] any organizational change usually involves paying attention to organizational culture. That it for IBM management to provide a new vision for the DMdata employees and not simply imposing their own without any involvement from the DMdata employees. The diagnostical tools can be helpful for an organisation to know which changes it is dealing with so that it can inform its strategy selection and organisational configuration to better respond to such changes. It seems like IBM management underestimated some of the challenges it was presented to when they acquired DMdata. The strategic problem lays within top management being blind to internal need for change and adoption within DMdata. Adapting the right diagnostical tools could have helped the management to take the right action in the right context. The lack of information could have been prevented by management taking a nurturer approach. Instead of the top down directors approach. Discussion Change and how people react to it are important features of organisational life. Its vital to remember in times of change, especially transformational change such as mergers and acqusitions, employees are not machines. The way we perceive change and its consecuenses can be different and paradox. As discussed earlier, it can be helpful for management to characterize the scale and scope of the change to better comprehend the impact of a change. However, its important to keep in mind that you will always be confronted with unintended change outcomes. The main problem areas within change implementation in mergers and aquisitions lie within differences in culture, not having a clear communication, and not assigning anyone asresponsible for the change initiatives. The external, managerial and operational level never worked together as one in the IBM/DMdata case study. When merging or acquiring two companies it is critical to consider their corporate culture. The success of a merger/aqusiti on depends as much on culture fit as it does on strategic and financial.Various failed deals can be attributed to corporate culture differences never being considered, or cultural clashes never being addressed. Furthermore, if the people side of MAs are ignored, as in the case study, both companies face not meeting the anticipated purpose of the transaction. [1] Kotter, Lewin [2] Choas theries; Ralp stacey, Car Weick [3] Strategic change management class notes, lecture one [4] Gerry Johnson , the cultural web, Mary Jo Hatch Majen Shultz, identity, Edgar Schein [5] Palmer, Ian, Richard Dunford, and Gib Akin. (2009) Managing Organizational Change p. 163 [6] Schein, E.H. 1990. Organizational Culture and Leadership. San Francisco: Jossey-Bass p.178 [7] Orlowski 1996, p 65 accesed in Weick 2000 p 227 [8] Weick, 2000 p. 225 [9] Kotter 1995, Leading Change: Why Transformation Efforts Fail [10] Palmer, Ian, Richard Dunford, and Gib Akin. (2009) Managing Organizational Change p. 195 [11] [12] Palmer, Ian, Richard Dunford, and Gib Akin. (2009) Managing Organizational Change p. 195 [13] Lewin 1947a accesed through study notes from lecture 2 [14] Stacey, Ralph. (2003) Organizations as Complex Responsive Processes of Relating. Journal of Innovative Management [15] Stacey, Ralph. (2003) Organizations as Complex Responsive Processes of Relating. Journal of Innovative Management p28 [16] IBM Database [17] DM Data Handbook p 16 [18] www.computerworld.com http://www.computerworld.dk/art/40353?cid=4q=dm+datasm=searcha=cidi=4o=5pos=6 [19] Strategic change management class notes [20] As a reslut of many employees leaving many projects didnt get finished with led to many dissatisfied clientsandcostumers. [21] Malike Karatepe [22] Comment 1, Appendix 1 [23] Comment 2, Appendix 1 [24] Comment 6, Appendix 1 [25] Comment 7, Appendix 1 [26] Comment 8, Appendix 1 [27] Class notes lektion 2 by Rex Degnegaard [28] Palmer,Dunford and akin p 87 [29] Palmer, Dunford and Akin p. 9