Fiduciary Duties and Regulatory Rules

Question: Discuss about the Fiduciary Duties and Regulatory Rules. Answer: Introduction Federal court of Australia adjudged in favour of Citigroup Global markets Australia Pty Limited (Citigroup) in civil proceedings brought by Australian Securities and Investment Commission (ASIC). Citigroup conducted business through various divisions. Departments involved in the present case were, first investment banking where employees were known as private side employees because they held sensitive information of the business and second equity trading employees were known as public side employees. The two departments are segregated from each other by a barrier known as Chinese wall so as to restrict flow of information. (Stringer and Harkness 2007) Present case arose when in the year 2005; Toll Holding ltd. employed Citigroup so as to advise them over Tolls proposed takeover bid of Patrick Corporation Ltd. amounting to A$4.6 billion. The parties entered into a mandate letter with regards to the provisions of these advisory services. Citigroups investments banking division provided extensive advice to Toll over a period of 8 months. The day on which Toll was to present his bid for Patrick, a proprietary trader of the equity trading department purchased significant amount of Patrick shares on account of Citigroup. (Carvalho 2008) The investment baking and the advising board were on the private side of the business hence they were aware of inside information during the course of their employment whereas the proprietor was in the public side department. Private side employees came to know about the proprietary trading of Patricks shares and for the said reason they had certain communication with the head of equities, then the head of equities had a conversation with the proprietary trader and asked him to stop buying Patricks shares. The proprietary trader under the impression that Citigroup would be overexposed sold 20% of Citigroups shareholding within a fraction of 20 minutes before the trade was closed. (Jacobson 2007) Breach of duty by Citigroup: ASIC Claim ASIC pursued a claim against Citigroup in Sydney courts, irrespective of the fact that Toll did not raise any claim. Claims raised by ASIC are as follows: (Seeto 2008) Citigroup had established fiduciary relationship with Toll by virtue of being an advisor, and by purchasing Patricks shares it has breached fiduciary duty obligations bestowed upon him by virtue of Section 912A(1) of the Corporations Act, 2001. it has also been alleged that Citigroup got engaged in unconscionable conduct which allowed arise of conflict of interest resulting in breach of Section 12CA(1) of the Australian Securities and investments Commission Act, 2001 Citigroup has acted in contravention of provision mentioned in Section 1043A of the Corporations Act, 2001. The bank has also contravened Section 12DA of the Australian Securities and investments Commission Act, 2001, by placing reliance on two facts, first that the sale of 20% of Citigroup shareholding at the time of possession of inside information constituted insider trading and second they challenged the restriction on flow of information by Chinese wall (Melbourne Law School 2017) which Citigroup had in place. ASICs (ASIC 2007) claim were based on the contention that: Fiduciary relationship imposes a strict duty of loyalty; common law courts have for the said reason restricted to apply fiduciary relationship principle on commercial transactions. But it cannot be asserted that fiduciary relationship does not exist in commercial transactions at all, it may exist where the fiduciary is entrusted to act in a manner which is in the best interest of the beneficiary. ASIC asserted that there existed a fiduciary relationship between Toll and Citigroup by placing reliance on the fact that where investment banks when carrying advisory functions act as fiduciaries, as there is a fiduciary relationship between the advisor and his clients.( Ritchie 2008) ASIC contented that Citigroup has failed to fulfill its role as a fiduciary in three ways: first, as it breached the no conflict rule laid in Section 912A(1) (aa) of the corporations Act, 2001 wherein the financial services licensee is obligated to have adequate arrangements for managing conflict of interest, here Citigroups own interest conflicted with Tolls interest, as the Patricks share prices were low before Toll announced its takeover bid and Citigroup was earning profit by transacting in Patricks shares. Share prices of Patricks shares rose up to 15% due to traders sale of 20% shares of Citigroup and for the said reason Toll had to buy shares at an inflated price. Second, the no profit rule has been breached by Citigroup by not accounting to Toll for the profits it made by transacting in Patricks shares. Third, the principle of good faith has been breached as Citigroup acted in a manner which was not in the best interest of Toll, which the former was obligated to being in the position of fiduciary. Section 1042G of the Corporations Act, 2001 implies the fact that the knowledge of body corporate is consonant with the knowledge of its officers. Interpretation to this section is that the knowledge of the officer (Section 9 of the Corporations Act, 2001) is the knowledge of the corporation. ASIC placed reliance on this section to assert that Citigroup is guilty of insider trading by selling almost 200,000 shares while in possession of the inside information that Citigroup was advising Toll on its takeover bid. (Allens 2007) Another claim of insider trading was based on the fact that the Chinese wall placed by Citigroup was not sufficient to manage conflict. Denied existence of fiduciary relationship Jacobson J adjudged that Citigroup had excluded fiduciary duty, he owed to Toll. Fiduciary duty can be modified or excluded by fiduciary either by contracting for the same or by consent. In common parlance the duty of a fiduciary is delimited by engagement letters. The mandate letter entered into by Citigroup and Toll expressly mentions that Toll would engage Citigroup as an independent contractor and not in any other capacity including as a fiduciary and Citigroup may provide services to other parties with conflicting interests. (Ferguson Ma 2014) Hence on the basis of the foresaid mentioned mandate letter clauses the court concluded that Citigroup has excluded its fiduciary duty. For arriving at this conclusion Jacobson J heavily relied on an English Law commission report 1995 (LAW COM No 236 1995) wherein the law commission arrived at a conclusion that despite of the fact that contractual as well as fiduciary relationships can co-exist but the exclusion clause would be effective only if the fiduciary relationship conforms to the terms of the contract. In other words it can be said that if the engagement letter expressly excludes the existence of fiduciary relationship then then there does not exist such relationship between the parties to the contract irrespective of the nature of the relationship they are into. (APESB 2017) The position of existence of fiduciary relationship lay in the case of Kelly vs. Cooper (1993) has been affirmed to an extent in the present case. Kelly vs. Cooper adjudged that a fiduciary can limit his duties towards beneficiary by expressly mentioning the exclusion clause in a contract which defines the relationship between the parties and the consequences of the exclusion clause are known to the fiduciary without ambiguity. (Swarb 2016) In case of absence of express contract between the parties to modify the duty fiduciary owes to the beneficiary, there can be an informed consent of the beneficiary to conduct the breach of the fiduciary duty. (McCabe 2007) In the present case there was a mandate letter which expressly excluded existence of fiduciary relationship between Citigroup and Toll. But Jacobson J for the purpose of record considered the existence of informed consent of toll to Citigroup for transaction in shares on his own account along with advisory services for the proposed takeover of Patrick. Jacobson J held that there was no express informed consent on behalf of Toll so there should be an implied consent on behalf of Tolls, as Toll had expertise in mergers and acquisitions according to its Chief financial officer and that it is the core competency of the company. Hence by virtue of existence of expertise it can be argued that Toll was unaware of Citigroups proprietary dealing in Patricks shares on the l atters own account. Therefore from the above discussion it can rightly be inferred that there was implied consent on behalf of Toll. Denied the plea of Insider Trading Court interpreted the term information under section 1042A of the Corporations Act, 2001 as that information could be non- specific information and the inference drawn from that information is also information. (High Court of Australia 2012) ASICs claim that the shares were sold while in possession of the material information and therefore breached the provision of insider trading could be effective if they were able to prove that the proprietor trader was an officer as per Section 9 of the Corporation Act. Court dismissed the claim of insider trading, stating that as per section 9 of the Corporations Act, proprietor trader of Patricks shares on behalf of Citigroup was neither a director nor he occupied a management position so as to be termed as an officer. In relation to the claim raised by ASIC with regard to the effectiveness of restriction on the flow of information by presence of Chinese wall the court observed that in accordance of Section 1043F of the Corporations Act, 2001 which refers to Chinese wall arrangements by bodies corporate, the Citigroups Chinese wall is in place and adequate. Section 1043F(b) does not mandate a standard of absolute perfection for Chinese wall, and for the said reason the court held that the Citigroups established arrangements were adequate so as to meet the requirements as laid in the section. Jacobson J held that Chinese walls are an important aspect of any strategy which is built to manage conflicts. Citigroups Chinese wall was effectively established which would efficiently restrict the flow of information between different departments, and it enabled protection of clients interest as there was protection of financial information from misuse. The English Law Commission report 1995 also established essentials of Chinese walls which included physical separation of the various departments of a body corporate, educational programmes emphasizing on the importance of non-disclosure of confidential information, procedures should be well defined and strict so as to enable to deal with situations in which the Chinese wall is to be crossed, effectiveness should be monitored, and sanctions to be imposed in case of breach. (Law Com No. 236 1995) Citigroup Chinese wall possessed all these essentials. Jacobson J also observed that mere laying down procedures is no sufficient there should be a willingness to understand the procedure and implement them in most of the contracts. In the present case the defense of Section 1043F of the Corporations Act, 2001 can be taken not only by establishing that the procedure and the Chinese wall established were in place rather it is to be proved that material information was not been communicated from one department to the other. The facts of the present case state that the terms of conversation held between the private side employees and the head of equities were with regard to the Proprietary trading of Patricks shares, and the private side was worried about the fact that the dealing would affect their conflict of interest in advising Toll for the proposed takeover bid, despite of the fact that the proprietor did not have knowledge of the takeover, (Jacobson 2007) and the conversation between head of equities and proprietary trader was oblique as the head of equities not inform the proprietor about the reason to stop trading in Patricks shares. (Ali Gregoriou 2008) So it can be asserted that material information was not communicated form the private department to the proprietary trader. So the Chinese walls should not only be at adequate place but they should be effective to deal with the situations of conflict of interest. Conclusion To conclude it can be asserted that in commercial relationships, the parties can expressly define their relationship in case it does not fall under established fiduciary relationships categorically as that it is not fiduciary in nature. It is prudent to expressly exclude the existence of fiduciary relation in the relationship clause. the confirms to the fact that the corporations can rely on the strategies of Chinese wall, contractual exclusion clause and informed consent so as to manage its conflict of interests. There are still more impetus required in the Chinese wall principle to disqualify the conflict of interests in commercial dealings. References (1995) Fiduciary duties and regulatory rules, [Online], Available: https://www.lawcom.gov.uk/wp-content/uploads/2015/04/lc236.pdf [6 January 2017] (2007) Client update: Commercial litigation- ASIC fails in conflict of interst and insider trading case against Citigroup, [Online], Available: https://www.allens.com.au/pubs/ldr/cucljun07.htm [5 January 2017] (No Date) [Online], Available: https://www.apesb.org.au/uploads/meeting/board_meeting/20150310023920_attachment_3_(f)_apes_230_specific_comments_table_6.pdf [6 January 2017] Ali, P.U. and Gregoriou, G.N. (2008)Insider trading: Global developments and analysis. London: CRC ASIC. (2007) 07-171 Decision in ASIC v Citigroup, [Online], Available: https://asic.gov.au/about-asic/media-centre/find-a-media-release/2007-releases/07-171-decision-in-asic-v-citigroup/ [5 January 2017] Carvalho, A. (2008). Contracting out of fiduciary relationships in engagement letters: The Citigroup case. Trusts Trustees, 14(6), pp. 406-415 Commonwealth Director of Public Prosecutions. (2012) Annotated, [Online], Available: https://www.hcourt.gov.au/assets/cases/p61-2011/Kizon_Res1-Redact.pdf [5 January 2017] Ferguson, D Ma, C. (2014). Addisons contractual interpretation series- relationship clauses- can fiduciary obligations be avoided?, [Online], Available: https://www.addisonslawyers.com.au/knowledge/assetdoc/5566d4592c364479/Addisons%20Contractual%20Interpretation%20Series%20Relationship%20Clauses.pdf [5 January 2017] Hanrahan, P, F. (n.d.) ASIC v Citigroup: Investment banks, conflicts of interest, and Chinese walls, [Online], Available: https://law.unimelb.edu.au/__data/assets/pdf_file/0008/1709837/67-Hanrahan_-_ASIC_v_Citigroup1.pdf [5 January 2017] Jacobson, D. (2007) ASIC v Citigroup Decision: no conflict and no insider trading, [Online], Available: https://www.brightlaw.com.au/asic-v-citigroup-decision-no-conflict-and-no-insider-trading/ [5 January 2017] Jacobson, D. (2007) Australian Securities and Investments Commission v Citigroup Global Markets Australia Pty Limited (ACN 113 114 832) (No. 4) [2007] FCA 963, [online], Available: https://www.smh.com.au/pdf/ASICvCitigroup.pdf [6 January 2017] McCabe, B. (2007) ASIC v Citigroup and fiduciary obligations, [Online], Available: https://www.austlii.edu.au/au/journals/ElderLRev/2007/5.pdf [5 January 2017] Ritchie, T. (2008) ASIC v Citigroup: An Amber Light for Proprietary Trading, [Online], Available: https://epublications.bond.edu.au/cgi/viewcontent.cgi?article=1010context=cgej [5 January 2017] Seeto, G. (2008) ASIC v Citigroup - The compliance implications, [Online], Available: https://www.claytonutz.com/knowledge/2008/january/asic-v-citigroup-the-compliance-implications [5 January 2017] Stringer, R Harkness, J. (2007) Citigroup what does it tell us that we didnt already know?, [Online], Available: https://www.google.com/url?sa=trct=jq=esrc=ssource=webcd=1cad=rjauact=8ved=0ahUKEwjBkYzriq3RAhUDgI8KHYElC2wQFggbMAAurl=https%3A%2F%2Fwww.governanceinstitute.com.au%2Fmedia%2F409666%2Fcitigroup_conflict_management_august2007.pdfusg=AFQjCNEeIV-aiNy87d10zDgAhRnPTTcY6g [5 January 2017] Wilkinson, B. (2016) Kelly vs. Cooper and another PC 25 NOV 1992, [Online], Available: https://swarb.co.uk/kelly-v-cooper-and-another-pc-25-nov-1992/ [6 January 2017]

The Nuiances of Physics Problems

The Nuiances of Physics Problems How to Choose Physics Problems Questions about forces, as an example, are best solved by schematic, and you'll be able to miss some vital information you don't immediately see whether you don't sketch it. It is possible to check the variety of active experts in actual time on the primary page. At times, you're going to be given extra data which you won't actually need. Make certain you don't miss crucial info. Fall Turnover is quite a bit more severe than Spring Turnover. Now you own a circumstance where turnover could occur. At times the units will allow you to discover the proper path. Our physics problem-solving help is here in order to make sure that you always get your homework submitted in time and to a standard which will help you acquire the best grades. Free college physics practice might be exactly what you have to master complex college physics concepts. The college physics practice tests are the ideal method to formulate an indiv idualized study program. The college physics study materials are intended to assist you improve. Practice to become much better. Each Practice Test contains ten to twelve High School Physics problems which you can utilize to hone your abilities. The college physics practice tests from Varsity Tutors' Learning Tools are a terrific start, since they supply you with real-world issues and ask you to earn informed calculations. The Unexposed Secret of Physics Problems EXECUTE the PLAN Now you're prepared to execute the program. PLAN the SOLUTION Before you truly start to calculate an answer, take time to earn a program. You may easily apply the exact same remedy to another set of issues. Check that the remedy is reasonable for the issue. You read the solution of the issue and it appears very easy, which means you feel you understand it. If it's possible to fix the issue then you comprehend the solution. Much like all the other Varsity Tutors' Learning Tools online practice tests, you can decide to share your results on a selection of social networking platforms. You sho uld become familiar with the principles discussed there. You have to outline the concepts and principles you think will be helpful in solving the issue. It is possible to chat with our specialists to find out more about their abilities. There are a number of other applications. Some apps could have more units out there. The solutions incorporate the steps for solving the difficulties. Your first impulse may be to say, that you won't get anything whatsoever. Bear in mind, too, which you would want to build some type of DIY digging contraption. Ensure you know what sort of solution the problem requirements. When the problems get hard, I discovered that the very best way for me to fully grasp how to do the dilemma is to continue doing the same sort of problem, but with distinct numbers every time. Why Almost Everything You've Learned About Physics Problems Is Wrong Waves Whenever two waves of the identical type are in the exact same place at the exact time, they interfer with one another. The separation and clarity the drums can exhibit in an incredibly properly designed area might be a revelation to follow. 1 part of learning how to address a challenge is to understand what approach to use. Another difficu lt role in kinematic problems is about the description of relative motion. What Everybody Dislikes About Physics Problems and Why In physics, you will find an object's mechanical energy with the addition of its kinetic energy and its possible energy. Lasers that generate a continuous beam or a set of short pulses can be compared on the grounds of their ordinary power. The procedure for supplying the energy needed for the amplification is called pumping. The minimum pump power necessary to begin laser action is known as the lasing threshold. What Is So Fascinating About Physics Problems? There might be occasions when it is far better to rearrange the expression for Rparallel. 1 object going and returning at distinct prices. Other times, there'll be variables whose purpose is revealed in a subsequent area of the question. It's extremely important to address the issue algebraically before inserting any numerical values. The Benefits of Physics Problems You have to construct s pecific algebraic equations that will permit you to figure the target variable. The specific configuration doesn't make a difference. Otherwise, determine different equations or check the strategy to determine if it is probable that a variable will cancel from your equations. The issue asks you to seek out the most torque for angles less than 90 degrees, the bigger the angle, the bigger the sine of the angle will be. It is possible to easily understand the similarity in problems. Each topic is connected with a set of equations. In Special Relativity issues, you relate the observations made by two observers in various reference frames measuring precisely the same thing. Special Relativity problems request that you relate the observations of two observers measuring the identical thing.

How to Make Your HR Topic Strong and Weak

How to Make Your HR Topic Strong and WeakRegardless of whether you are writing a review paper for an exam or a thesis, your thesis topics should be based on HR topic strengths and weaknesses. This allows you to identify weaknesses in the subject matter that you are studying, so that you can build on these weaknesses in your review paper. Your work will be much more likely to stand out if you properly identify weak areas of the thesis statement, and then focus on overcoming these weaknesses in your revision.Employers are often highly experienced in the HR industry, so they know exactly what they are looking for when evaluating a proposal or job application. Of course, since you are writing a research paper, you need to present a strong case for your project, which should include evidence of your knowledge of the subject. However, if you simply make a general statement about the strengths and weaknesses of the subject, you will struggle to persuade your reader that you have a solid und erstanding of the subject matter.A well-written research paper is based on two strong thesis statements. These are the statement 'There are many HR topics that are currently facing problems' and the statement 'A significant proportion of HR related projects face such problems'. You will also need to describe the problems with each of these statements, and how you plan to overcome these problems.The first problem is that most statements start off with the phrase 'there are', which makes it seem as though the topic has only one main problem. However, in reality, there are many topics that are facing problems, and they include all kinds of problems - different types of HR topics. Therefore, it is important to point out that there are several weaknesses in each specific HR topic, but that this does not mean that the entire topic is inherently weak.Your second thesis statement should talk about weaknesses in each topic. This means that the problems associated with each specific topic are grouped together in a single place, and that you outline your plan to avoid or overcome these weaknesses. You will also want to highlight the fact that there are several weaknesses that are shared by many topics, and your goal is to identify a weakness in each of them, so that you can point to a weakness in your project and build upon it.It is imperative that you demonstrate both strength and weakness when you are outlining your strong basic thesis statement. The statement should outline the strengths of the topic, and then the weaknesses of the topic. Although you should always focus on strengths, you should also strive to highlight weaknesses that are shared by many topics in the context of your project.One of the best ways to present your strong thesis statement is to show examples of the strongest and weakest aspects of the topic. For example, if you are writing a research paper about workplace conflict resolution, you could show examples of conflict that is solved by these res olutions and show examples of times that conflicts were not resolved. You can also use the examples of conflicts that were not resolved to identify the weaknesses in your topic and help you understand what you need to do to overcome these weaknesses.Whether you are writing a thesis for an exam, a review paper for an exam, or a research paper for an exam, your strong thesis statement will help you make the most of your paper. By focusing on weaknesses and strengths of the subject, you will make it easier to identify weaknesses and strengths of your topic and make it much easier to make your project stand out from the rest.

The Newly Leaked Secrets to Researchable Argumentative Essay Topics Uncovered

The Newly Leaked Secrets to Researchable Argumentative Essay Topics Uncovered Argumentative arguments are only arguments that are written back on paper. So, the objective of an argument essay isn't to ultimately proved that you're right, instead it is to produce a wholesome debate on the special topic that you're writing on and permit the reader to form their own opinion too. It's recommended not to choose reflective essay that cannot be convinced during the arguments. An argumentative essay is a kind of thesis or composition in which you have to present your view and endeavor to convince others your facts and arguments are correct. When you develop this kind of essay, you should make your claims by your composition so it will be open fordebate. Before you import evidence, you should be certain your facts are accurate and right to the point. You should back up your viewpoint with well-researched facts and data too. There's a huge possibility that you come out the task a specialist in the topic. Controversial issues are happening all of the time, all you have to do is turn on the news and you'll be able to locate a huge choice of topics to select from. A great method to tell if your topics is an argument topic is to see whether you can debate your topic employing the info you find. If you select the incorrect subject, you might get stuck with your writing and have a difficult time moving forward. Bear in mind you may make funny argumentative essays if you do a few things. You should begin by letting the reader understand what you hold as true about this issue. One of the greatest methods to make writing a research paper easier is to opt for a topic which you're passionate about. Choose from popular topics that folks are passionate about. The essay ought to have a little bit of structure, unlike a normal essay. Your essay should consist of recent statistics and data from reliable sources. Just adhere to the fundamentals of composition writing and you'll have your argumentative essay ready. An argumentative essay requires you to choose a topic and have a position on it. Argumentative essay topics cover a wide number of subjects, and can be quite persuasive if an excellent essay represents them. You could also see concept essays. Argumentative essays have to be well-organized. Generally, they are not similar to othertypes of essays. Creating an excellent argument essay starts with a list of argumentative essay topics. Below you'll find specific instructions about how to compose an argumentative essay on any topic, which is well written and are going to have excellent opportunity to have a good grade. Quite frequently, the ideal topic is one which you truly care about, but you also will need to get ready to research it. First you discuss the very first subject. Never utilize words of which you don't know the specific meaning. In order to give an in-depth understanding about the argumentative essay, it's better to examine some of the greatest examples of argumentative essay. To write a superb argumentative essay, there are four key pieces of the essay you're likely to have to know about. If you're new to writing argumentative essays, there are a number of essential factors which you can learn that may help you compose a greater argumentative essay. The Benefit A persuasive essay grants you the advantage of digging through a problem. Bear in mind that what you include as facts ought to be such they can be authenticated by objective ways. Brutus sacrificed relationships as a way to look after the people.

Senior Essay Proposal Sample

Senior Essay Proposal SampleOne of the most important parts of a senior essay is getting all of the information and details about the student. Writing a senior essay proposal will get the attention of an editor and a school or university which could potentially lead to a full scholarship.By getting a complete senior student proposal, the school or university will be able to review the paper and know exactly what they are getting into. Also, it is one way of telling the student that they are already on the top of the list for college.The first thing that you need to do is to research the writing samples of your own senior student proposal. This will allow you to get the most out of your writing sample. If you only take a look at someone else's writing, it will not be as helpful to you.Here is what you can do to look at the actual writing sample in the format of a senior essay proposal. There will be a plan of events and a three-paragraph overview that the student will be working with. There will also be a bibliography at the end of the proposal.You will want to take a look at the plans to see what is included in the bibliography and what it would contain. This is a requirement of every senior essay proposal. It is very important to include this in there or it will be an error and you will have to start all over again.By taking a look at the outline and then the basic bibliography, you will get a good idea of how the paper will be formatted. You may find that there are some areas that you have to spend more time and rework than others. Just make sure that you are aware of the situation and make any necessary changes so that you can turn in the paper the way that it should be.Make sure that you are researching for spelling and grammar mistakes in the paper. This can really ruin a senior essay proposal. Many schools will throw out the entire document because of these types of mistakes.The senior essay proposal needs to be well written and interesting. Make sure tha t you take a look at the senior essay proposal sample and then turn it into the form that it should be. This is a great way to begin your senior year at college.

Innovation for Global Relationships Management

Executive summary Global strategy is one of the main tools being used by multinational organizations. Information technology is essential in ensuring that organizations operate and enjoy competitive advantage.Advertising We will write a custom essay sample on Innovation for Global Relationships Management specifically for you for only $16.05 $11/page Learn More Most organizations are ignoring essence of information technology due to complexity associated with it. Airline industry has a global strategy that is integrated and articulated with information technology. The paper will discuss the process of developing a global strategy in relation to airline industry. The information will be useful to all industries as it will identify existing gaps in globalization. Qantas airline will be cited as an example of a company in airline industry. Policy formulators will find the information relevant as recommendations will involve political interventions. Introduc tion Globalization is integrated and comprehensive as evidenced by its numerous aspects that have been reviewed and researched on so far. Its evolution remains a mystery as some scholars argue that technology has contributed to the spread while others argue that technology is a product of globalization. The world of business is wholly submerged by this development as the strategies that are meant to realize the prioritized goal of every corporation are dynamic. Competitiveness of firms is now measured by it coverage globally that acts as a pace setter. Global business strategy entails plans, objectives and activities that are put in place by the multinational organizations so as to increase competitive advantage. This paper will discuss the process of that is involved in setting global strategy and the essence of global integrated information technology in its implementation process. Integrated global information technology strategy Many studies postulate that an integrated informat ion technology must be well established globally so that global business strategy can be implemented effectively. Most organizations acknowledge the essence of integrated global information technology strategy but are reluctant due to high expenses that are involved in the purchase and the maintenance.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More As a result, information technology strategy precedence is disregarded by most organizations and in event majority of the multinational industries are not truly global. It is only after integration of a global information technology that the industry is regarded as multinational. The process of developing an integrated global information technology strategy is to ensure that airline industry operations are monitored globally and a new approach is implemented as opposed to simple expansion of the already existing strategy in the domestic level. Q antas airline must be able to match the pace of technology so as to enjoy the advantages and be competitive in the global market.1 Industry globalization is one of the issues that contribute towards development of integrated global information strategy. Since globalization is on escalation all over the world, inclination towards information technology is more pronounced. More activities including those by airline industry will rely on information technology and therefore reluctance towards its adoption will mean reduced competition advantage for Qantas airline. The national competition level would also influence adoption of the global information technology. For the development of integrated global information technology to be successful airline industry must overcome the negative issues that are aligned in it. Qantas airline should understand that investments at global level are associated with high profitability as opposed to the domestic level. However the performance should matc h the technology differentiation speed and expect better long term impacts and not short term. Airline industry should proceed towards the chronological process that should start with the required support.Advertising We will write a custom essay sample on Innovation for Global Relationships Management specifically for you for only $16.05 $11/page Learn More This involves prioritization and specification on the areas that require the services of information technology. Further integration of information technology would specify on the level in relation to different geographical sites. When developing the global integration of information technology the desired impact should be well considered based on the differences in geographic and cultural perspectives among the countries2. Competitive advantage Information technology that is globally integrated will offer many advantages to airline industry in three main ways. The entire performance will be increase d leading to increase in the profitability at both domestic and global level. Effective communication system which is a product of integrated global information technology, would simplify monitoring and management process for Qantas airline. As a result processes that would have taken longer and inconvenienced the airline industry are simplified and enhanced through the action of information technology. Decision making and the control exercise is influenced greatly by the existence of information technology. The management of Qantas airline is entrusted with this crucial role that requires utter finesse. As a result the decision making process is faced with many obstacles like time wastage as well as tendency to make improper decisions. Information technology hinders this by disseminating important information regarding the decision making therefore acting as a guide for the managers. Strategic value endorsement is the overall positive influence that information technology has conce rning the Qantas airline design of the E- business.Advertising Looking for essay on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This involves the knowledge management, the existing relationship between the consumers and the suppliers as well as relationship between the existing enterprises that Qantas airline will be able to establish. For example Qantas will be able to monitor the market progress in different states it operates in3. Information technology further influences the relationships between the consumers by strengthening the external coordination like the modification of the supply chain to meet the needs of the consumers. This can be further articulated by the constant gear towards consumer relationship management that incorporates all the necessary activities. It promotes interactions between the consumers and suppliers often by establishment of networking tools like blogs. Information systems The Human resource information system functioning can only be comprehended by careful scrutiny of all the undertakings by different users and implementation process. It should however be noted that there ar e different levels of usage among the different users in an organization just like the variance between different industries. Airline industry will use the discussed information system to integrate its global business strategy. Oracle application will be used in the airline industry because it ensures confidentiality as well as integrity because entire information is controlled in a central point. The duties and all activities of Qantas airline as well as data access will only be manipulated by the authorized person thereby reducing chances of external or internal sabotage. The application is well established as it has been differentiated consecutively so as to encompass diverse interests of the users. On the other hand the oracle system is very complicated and most users especially from the self service department find it difficult to use it. This means that the application will be mostly used by the experts in airline industry thereby limiting the coverage rate. This means that th e application is highly exclusive as compared to others that are much simpler and should be preserved for the executives of airline industry4. The ADP application will also be used in airline industry. The application is very efficient in the modification of the set query language in to the comprehensible one rendering. It will be useful to most of the common users in Qantas airline. Since the application can modify such setting of information there will be no need of purchasing other hardware thereby saving on time and money. On the other hand high technicality is required in modification of the set query language that is only done by an expert as opposed to other applications like MDB that can be wholly ran by the common users. I would recommend the ERP application as it is simple to operate especially in consideration that the common users are the majority. The application is also well differentiated and contains many in built processors as compared to other applications and woul d save on cost. There is also a centralized management that intensifies on the confidentiality and availability of the information in Qantas airline globally. For example customers will be able to purchase tickets and access relevant information via internet. The software as a service application is very effective and contains many services that reduce cost and saves time. The service costs are reduced because the application supports some services that would be paid for separately by the organization. The inbuilt services also mean that Qantas airline will not spend money purchasing hardware. There are also high chances of security that come along with the onetime service like the pay to use in most software. On the other hand the MS access application is highly insecure due to easy manipulation from either external or internal forces. The application is highly unprofessional and is highly characterized by collapse or corrupt files. The MS application is less standardized and has i nferior system as compared to other applications5. Reorganization process Multiple combinations into a single vendor can only function if only the applications involved communicate or are able to interpret the message. The system may not function in case of disagreement of terms between the applications that are set at the international level. In addition the combined applications may be irrelevant to other users and could only be accumulating space that could lead to slow processing of information. Ill management of the HR system would lead to high insecurity as the information could be manipulated internally or externally in airline industry. There is also likely to be under performance of the workers as transformation leadership would not be practical. This would lead to total failure of the projects and the goals of Qantas airline would not be met. The present system of the HRIS which is dynamic can accommodate additional applications and can be distributed throughout the world. The use of the HRIS can only be effective if well planned and is used in articulation of other applications like EPR or BOB due to the extra services like HTML. Conclusion It is evident that airline is a backbone of many other activities in the world. Collapse of airline industries dictates fall of the related businesses both directly and indirectly. Concern and support should therefore be given by the relevant stakeholders to ensure ultimate success globally. The government being the prime contributor to the financial aid that would boost this industry should be the first to intervene. The emerging inter organization relationship that is strongly influenced by information technology ensures maximum interaction and communication as electronic devises are highly involved. References List Allen, T MS Morton, Information Technology and the Corporation, Oxford University Press, New York, 2004. Cahney, W, The consumer electronics and related industries. Oxford University press, New Yor k, 1999. Stone, DL, KM Lukaszewski LC Isenhour, E-Recruiting: Online strategies for attracting talent, Jossey-Bass publishers, San Francisco, 2005. Walker, AJ, Best practices in HR technology, McGraw-Hill press, New York, 2004. Zampetti, R L Adamson, Web-based employee self-service, McGraw-Hill Press, New York, 2001. Footnotes T Allen MS Morton, Information Technology and the Corporation, Oxford University Press, New York, 2004. DL Stone, KM Lukaszewski LC Isenhour, E-Recruiting: Online strategies for attracting talent, Jossey-Bass publishers, San Francisco, 2005. AJ Walker, Best practices in HR technology, McGraw-Hill press, New York, 2004. W Cahney, The consumer electronics and related industries. Oxford press, Oxford, 1999, p.33 R Zampetti L Adamson, Web-based employee self-service, McGraw-Hill Press, New York, 2001. 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The Pieta by Michelangelo

The Pieta by Michelangelo Free Online Research Papers At 22, a relatively unknown artist by the name of Michelangelo created a marble sculpture that continues to be seen by people around the world in the Vatican City of Rome. This piece named The Pieta has been sculpted from a single slab of marble from the Pits of Carrara. In Germany during the 13th-Century, the earliest representation of The Pieta was created into a polychromed wood sculpture. In Italy during the 14th-Century, The Pieta was mostly painted on side panels of altarpieces devoted to the Passion. In 1498, Michelangelo was commissioned to do a life size representation of The Pieta measuring 1.74m x 1.95m. He sculpted four versions, but only finished one. It took him two years to finish this magnificent sculpture. His interpretation of the Pieta was far different than the ones created previously by other artists. Various painters and sculptures have created the Pieta, which depicts the Virgin Mary holding the body of her son Jesus Christ after his death, in many different forms. In Michelangelo’s Pieta, the Virgin Mary is seen as a youthful, serene, and celestial young woman indifferent to the classic style of a broken-hearted, old woman. This is especially important when you consider that the sculpture is of a mother holding her dying son in her arms. To emphasize Mary’s empowerment over her son’s dead body, Michelangelo sculpted her very large and angelic like, with her clothing draping down like a waterfall. Her son, who just suffered through the crucifixion, seems to show no signs of the Passion as his face is serene and absent of any facial wounds. The only signs that the crucifixion actually took place are that of the wounds on his side, hands and feet. Michelangelos work always gives me a very pleasant feeling when I look at it. He shares his opinions through his work without any regret. Michelangelos sculpture of The Pieta depicts a very informal view of Mary holding Jesus Christ after his death. The overall mood of the sculpture is very enlightening and angelic. If I had no idea who these two people are in the sculpture, I would look at this picture and see a loving mother holding her dying son in her arms. The warmth in Marys eyes pulls you down to her son’s body, and then the draping around the bottom pulls you down to the floor. The cloth that is draped over Mary and over the bottom of the sculpture looks almost real. The softness and the detail of it make you believe that you are seeing the real thing. In conclusion, I believe that The Pieta by Michelangelo is one of his most magnificent pieces of sculpture. All elements of the compositionthe position of the left arm of Jesus, the angles formed by his knees, and the folds of Marys draperywork toward a gentle unity of design that contrasts sharply with earlier versions of the subject. I believe that Michelangelos Pieta transformed the late medieval devotional image into a monumental statement on the meaning of Christian Sacrifice. This magnificent sculpture will be seen throughout the future as a very influential and inspirational piece of artwork. Research Papers on The Pieta by MichelangeloMind TravelHip-Hop is ArtAnalysis Of A Cosmetics AdvertisementThe Spring and Autumn19 Century Society: A Deeply Divided EraThe Fifth HorsemanMarketing of Lifeboy Soap A Unilever ProductThe Hockey GameAssess the importance of Nationalism 1815-1850 EuropeThe Masque of the Red Death Room meanings