Is English An Universal Language (Lingua Franca) - 1100 Words

Is English An Universal Language (Lingua Franca)? (Essay Sample) Content: Is English a Universal Language (Lingua Franca)?Students NameInstitutional AffiliationIs English a Universal Language (Lingua Franca)?Language is a tool through which people in the society to communicate and understand each other without creating any mixed reactions. Throughout history of mankind there have been several languages such as Spanish, Greek, French, German, English, Chinese and many more that are spoken all over the world. Despite the existence of these languages, there are also more than a thousand dialects in the spoken languages and are different and unique from each other. All through the human history and his communications attempts there have never been a universal language but the current position of the English language has become closest to it. Universality is gained by a country conquering other countries and teaching it its own culture. For communication to be smooth among the different cultures there is a need for a universal language that will be understood by all. Among the many languages, English is the one language that is widely spoken and used in the world. Over the years for the need of a universal language, English has become a universal language in the world.In its struggle to gaining language supremacy, English underwent through a series of events to gaining the supremacy of being a universal language. Some of these struggles were governmental, legal and official events that necessitated the use of language. The push for English to be a universal language started during the thirteenth century in London. The first use of English was in the Courts that extended to Parliaments few years later. People have been communicating with each other either for war, business, hunting or education for a long time as history can tell. Since the civilization of human beings, English has always been used. During the civilization period, Latin language was pushed by the Roman Empire, French expanded through the efforts of Napoleon conquests, and English was expanded by the British Empire and the emergency of USA as the world super power and through the commerce, religion, technology and education. Since then English has been used in different platforms that have supported that English is a universal language.English can be understood everywhere among different cultures, scholars since it is a media language. It is the language music, TV shows, films and the computer world. Globally, a lot of people many English words and how they are being used. An example that illustrates the universality of English is the current trend of India and China producing their films in English. The following have impacted the rise of English to being a universal language in the world. It is the easiest and simplest language in the world. It is easy to learn and understand than other languages (Crystal, 2012). The concept of easiness and simplicity is completely undeniable in the rise of English being a universal language.The fol lowing makes it simple and easy to learn than other complex languages like Hungarian. First, its alphabet is that of Latin which is universal, simple and short. The alphabet has only twenty six letters with no diacritics (Baruah, 2004). Secondly, its verb conjugation is simple and easy. They do not have any variations and they take the following forms: Present Participle, Past Tense + Past Participle, Infinitive + Present and 3rd person singular Present Indicative. Lastly, it does not have many inflections. There are no gender inflections for adverbs, adjectives and articles. There are only superlatives and comparatives for adjectives, and only numbers for the nouns (Harmer, 1998).One area where English has dominated is the Internet web contents are mostly written using the language. Since the internet has become the effective way of communicating over long distances, many cultures have found it necessary to learn English. In the modern world many people will be speechless if they f ind themselves in a country that does not speak English. If you want to communicate overseas you will have to know English or have somebody who will interpret your messages. Most companies that have e-commerce have written their websites using English making it easy for potential clients to understand what they are using. Most Japanese and Chinese firms use English to advertise their products through the web despite the fact that they have their own language that they use.In the business world, countries are crossing boundaries to strike deals with other countries that uses a different language. During their negotiation process, English is the language that is commonly used (Nickerson, 2005). An example is the recent and ongoing efforts of China to invest in Africa. During the visits of Chinese officials to Africa, there is an interpreter who interprets when both languages are being used. Also, due to technology, there are devices that are being used to interpret from one language t o the other. These devices may lose their significance since most people want to clearly get what the other means, be it expressional or facial. Therefore, English has emerged to be language of business in the world. No deal will be signed if both parties do not understand each other.Globalization also led to the universality of English. The globalization of education, business, politics, culture, research and many of the daily life aspects is an inevitable reality (Charlton and Andras, 2006). English is widely used in almost every aspect of education. Every country now has English in their education syste...

Teaching Poetry For Appreciation By M. Ediger - 1751 Words

1 Teaching Poetry for Appreciation According to M. Ediger (2007), the teaching of poetry doesn’t perceptibly differ from teaching other types of literature, as far as the methodology of teaching is concerned. Poetry is regarded as a more difficult kind of literature with special difficulties of language, grammatical construction and thought involvement. There are two broad aims of teaching poetry; (a) literary aim and (b) subject matter aim. For achieving these aims the teaching of poetry should be intensive for achieving the literary aim and extensive for achieving subject matter aim. Intensive study is mainly related to explanations, detailed information, appreciation and all those aspects that are considered essential for the†¦show more content†¦Grammar and vocabulary should never be touched in a poetry lesson. 2.8.2 Steps of Teaching Poetry for Appreciation Students are not the same toward understanding poetry. Individual differences should be kept in mind. They must be given sufficient time to go through the poem on their own so that they appreciate it fully. According to Dash (2007), a lesson in poetry should always be a pleasant activity. The student must have an interest in learning the particular poem. Interest in the poem will be ensured if the teacher is efficient; in teaching a poem so that the student may get pleasure from it and may learn to appreciate it. The following steps may be followed in the appreciating process: 2.8.2.1 Introductory Background of the Poem Before begin to teach the poem the teacher must try to create an atmosphere for the poem. This can be done alone by explaining the background of the poem, and the event or situations connected with the contents which will help the students to understand the setting. The introduction must give the student the key to the poem. In higher level, the teacher may give an introductory talk about the poet. Difficult words can be introduced during this stage so that when the students come to read the poem, these words will not prove a stumbling block to them. The setting and situation should be taken into consideration in reading a poem. Some poets establish the settings and circumstances of

Parents Extinguish The Gender Role Fire - 938 Words

Parents Extinguish the Gender Role Fire Being a parent is a full time job because parents and guardians have such a great influence on children and never get a day off. As a child one of the first experiences encountered will gender roles. There is a standing misconception that pink is for girls and blue is for boys. People still buy dolls for girls and cars for boys however the times have changed and some people feel that gender roles have restricted our society rather than benefited it. Parents are the first to restrict their children to conforming and being a certain way. They tell their kids that they can be anything then undermine that by not allowing them to see diverse gender roles. For example according to the website healthychildren.org, showing â€Å"men and women in non-stereotypical and diverse gender roles like male nurses, female police officers, stay at home dads and working moms† allows children to become familiar with diversity. Children can see that gender does not matter and that they can truly do whatever their hearts desire. Parents often discriminate between boys and girls, it is a habit that is hard to break because of terms like daddy’s little princess but what happens when she wants to be daddy’s little solider? The environment around children often shape their view of the world. Susan D. Witt who wrote the article â€Å"Parental Influence on Children s Socialization to Gender Roles† states that â€Å"parents encou rage their sons and daughters to participate inShow MoreRelatedRape Culture1369 Words   |  6 Pageswhich rape frequently occurs in the United States: colleges and universities. Many may wonder why this happens to be the case, and it seems that college environments, which offer a wide accessibility to alcohol and drugs, are the oxygen that feeds the fire of rape culture. 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Personal Response to Elizabeth Bishop Sample Essay Example For Students

Personal Response to Elizabeth Bishop Sample Essay What I admire about the poesy of Elizabeth Bishop is her combination of precise. inventive description and thought arousing penetration. The poet closely observes and vividly describes the universe around her. Her celebrated oculus for item and original imagination gives her poesy a strong ocular quality. pulling the reader into the universe she describes. However. what makes her poesy particulary appealing to me is her desire to examine beneath the surface of things. We see how her close observation leads to inner contemplation and minutes of perceptual experience. These minutes of perceptual experience helps us as readers to acquire a better apprehension of the universe in which she lives in. Her poesy is rooted in personal experiences. but has a general cosmopolitan subject. I enjoyed ‘The Fish’ for its unusual imagination. elaborate description and uplifting epiphany. We are drawn into the verse form by the gap lines ‘I caught a enormous fish’ The poets respect for the fish is instantly conveyed. he is ‘battered and venerable and homely’ . A domestic simile helps us to visualize this immense. ancient fish. while arousing a sense of comfy acquaintance ‘his brown tegument hung in strips. like ancient wallpaper’ Imaginative similes conjure up an image of the interior of the fish. his flesh is ‘packed in similar feathers’ . while his swim vesica is ‘like a large poeny’ . An interesting displacement in the verse form occurs when the poet looks into the fish’s eyes and begins to prosecute with him. Observation leads to contemplation. The poet empathises with the fish when she observes the five maulerss that had ‘grown steadfastly in his mouth’ . Like the poet. I admire the fish for lasting the tests of trials of life. It is at this point that the poet achieves a minute of penetration. The maulerss are ‘like decorations with their threads. frayed and wavering’ . suggests that the poet now sees the fish as a war veteran. This is a fantastic comparing. The ancient fish is now a symbol for the resiliency of the human spirit and for our capacity to last the vicissitudes of life. This penetration has an uplifting consequence on the poet and so on the reader. I particulary like the optimistic image with which the verse form ends ‘until everything was rainbow. rainbow. rainbow! ’ Having achieved triumph and endurance. the fish deserves to be let travel. Elizabeth Bishops powers of observation and description. every bit good as her singular ability to accomplish consciousness through reflecting on ordinary. mundane experiences are once more apparent in ‘Filling Station’ The colloquial tone draws us into the verse form ‘Oh. but it is soiled! ’ The image of an ‘overall black translucency’ absolutely conveys the sense of overpowering crud. The poet closely observes every facet of the ‘oil-soaked’ station. even detecting how the father’s monkey suit ‘cuts him under the arms’ . Her close observation of the improbable domestic universe that she encounters here sets her thought. ‘Why the immaterial works? . Why the tabouret? . Why. Ohio why. the doily? ’ . These inquiries reflect the poets admirable wonder to understand the world that lies behind external apperances. Again we see how contemplation leads to insight. The poet realises that some unobserved individual ( likely a adult female ) has done her best to make some gloss of domestic order in the universe of dirt ‘Somebody waters the works. or oils it maybe’ . Even the oil tins are neatly arranged so as to sooth the fraught nervousnesss of drivers. I enjoyed the poets clever usage of personification every bit good as repeat of the comforting ‘so’ sound: ‘they sofetly say: ESSO-so-so-so to edgy automobiles’ The poet concludes that there is ever person making their best to softly better the quality of our lives. ‘Somebody loves us all’ . As in ‘The Fish’ . poet and reader are uplifted by a really positive. reassuring insight into human life. I like the manner Bishop reflects on a personal experience to detect an uplifting cosmopolitan truth. .u36d3fed85ea90936dcad40d019fdbbc1 , .u36d3fed85ea90936dcad40d019fdbbc1 .postImageUrl , .u36d3fed85ea90936dcad40d019fdbbc1 .centered-text-area { min-height: 80px; position: relative; } .u36d3fed85ea90936dcad40d019fdbbc1 , .u36d3fed85ea90936dcad40d019fdbbc1:hover , .u36d3fed85ea90936dcad40d019fdbbc1:visited , .u36d3fed85ea90936dcad40d019fdbbc1:active { border:0!important; } .u36d3fed85ea90936dcad40d019fdbbc1 .clearfix:after { content: ""; display: table; clear: both; } .u36d3fed85ea90936dcad40d019fdbbc1 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u36d3fed85ea90936dcad40d019fdbbc1:active , .u36d3fed85ea90936dcad40d019fdbbc1:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u36d3fed85ea90936dcad40d019fdbbc1 .centered-text-area { width: 100%; position: relative ; } .u36d3fed85ea90936dcad40d019fdbbc1 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u36d3fed85ea90936dcad40d019fdbbc1 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u36d3fed85ea90936dcad40d019fdbbc1 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u36d3fed85ea90936dcad40d019fdbbc1:hover .ctaButton { background-color: #34495E!important; } .u36d3fed85ea90936dcad40d019fdbbc1 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u36d3fed85ea90936dcad40d019fdbbc1 .u36d3fed85ea90936dcad40d019fdbbc1-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u36d3fed85ea90936dcad40d019fdbbc1:after { content: ""; display: block; clear: both; } READ: Autism Essay‘First Death in Nova Scotia’ describes a kid efforts to come to footings with her first experience of decease. It is particulary poignant because we see the universe through the eyes of an guiltless and baffled kid. Evan as a kid. Bishop was aggressively observant. taking in every facet of the cold parlor. including the old chromographsand the stuffed loon. The description of the exanimate loon as ‘cold and caressable’ efficaciously conveys the kids confusion when confronted with decease. Bishops images are typically inventive: the marble topped table becomes the loons ‘white frozen lake’ . while Arthurs casket is ‘a little frosted cake’ . The simile comparison small Arthur to a ‘doll that hadn’t been painted yet’ is really traveling. foregrounding. as it does. the calamity of a kids decease. Through closely detecting and reflecting on the state of affairs in which she finds herself. the immature Bishop gets a sense of the awful conclusiveness of decease. The kid tries to come up with a happy fairytail stoping to this tragic occurrence by conceive ofing that the royal figures ‘invited Arthur to be the samllest page at court’ . However. she unhappily concludes that her lifeless cousin. trapped in the embracing of decease and seizing his ‘tiny lily’ will be unable to go ‘roads deep in snow’ . It is the kids perspective on decease which makes this poem both interesting and affecting. To reason. I enjoyed Bishops poerty particualry because of its minutes of penetration. her ability to examine beneath outer visual aspects and discover cosmopolitan truths is really impressive. In footings of her manner. I was struck by her remarkably graphic descriptions and unusual similes and metaphors.

Website implementation in a printing company

Website development for any growing company is of benefit especially due to the rapid globalization of companies. Most companies despite their size and location are fighting hard to reach the top in terms of providing their products and services to the whole world.Advertising We will write a custom research paper sample on Website implementation in a printing company specifically for you for only $16.05 $11/page Learn More Research done on most companies show that most companies have developed websites so as to be able to reach as many customers as possible. This is the case because of the high competition from companies dealing in related products or services and the need to globalise their company. Statistics show that there are an approximate 1.8 trillion internet users it the world as at December 2009. Asia was rated the highest continent in internet usage with 764 million users while china was rated the country with the largest population of interne t users. This data indicates that over fifty percent of the world’s population has access to the internet. This means that any advertisement on the internet will reach a larger population as compared to regional or location advertisement using other ways such as newspapers or sales promotions. Websites are used by many companies as a means of communication as well as for the purpose of marketing and selling of services offered. A printing company is no exception since its services are demanded in almost all parts of the world. Implementation of a website in a printing company would definitely lead to increased sales of the company at the same time satisfying the customers (â€Å"World internet users†, 2010, p. 1). This is a recent development in the printing industry since it has been before thought to be a minute industry and available in almost every location. The idea of globalising such an industry through website development is beneficial because of the many advan tages related to website marketing. Some of these benefits have been reported to be satisfaction to the customers by adding value to the products or services offered. The website gives a site where the customers can be served at any time and day even if the printing shop is closed; they also get instant feedback without having to travel hence saving much of their time. The customers are able to view free tips and guidelines concerning the services they require. Websites have also been known to market companies, potential companies despite their location will be able to view the company through internet access (Duermyer, 2010, p. 1).Advertising Looking for research paper on business economics? Let's see if we can help you! Get your first paper with 15% OFF Learn More This reduces the cost of training sales personnel to advertise the company’s products or services and in turn saving the company lots of cash. The cost of printing pamphlets to be distributed to cus tomers or advertising in newspapers, billboards, magazines will also be saved since marketing will be online. The printing company will have an automated system where the customers make their orders, receive services and pay for them electronically. Websites provide a simplified chain to be followed when purchasing or requesting for a service hence creating a room to attract as many customers as possible. All these benefits channel to increased sales of the company at the same time expanding it to operate globally. Apart from increasing sales, websites would show any recent changes and developments of the company to their customers, for example in cases of change of location or development of new products or services (Berry, 2010, p. 4). Reference List Berry, T. (2010). Print shop website business plan. Web. Duermyer, R. (2010). Internet Marketing. Web. Internet usage statistics. (2010). World internet users and population stats. Web. This research paper on Website implementation in a printing company was written and submitted by user Catseye to help you with your own studies. You are free to use it for research and reference purposes in order to write your own paper; however, you must cite it accordingly. You can donate your paper here.

Corporate Governance in Malaysia Essays

Corporate Governance in Malaysia Essays Corporate Governance in Malaysia Paper Corporate Governance in Malaysia Paper Corporate Governance is a concept in which it has been existence for decades; although not in the exact form that it has come to be understood today (Anandarajah, 2001). The term corporate governance was introduced in Malaysia in 1997 during the Asian Financial Crisis. It also drew the public’s attention on the weaknesses of the Malaysian corporate governance practice (Nor Azizah Zainal Abidin, 2007). Besides that, the downfall of Sime Bank, the Bumiputera Malaysian Finance (BMF) scandal, the irregularities in Renong Berhad, the Perwaja fiasco and the internal management problem faced by Malaysian Airline System (MAS) forced government to enhance corporate governance regulations (Norwani, Mohamad, Chek, 2011). The High Level Finance Committee Report 1999 on Corporate Governance in Malaysia defined corporate governance as the â€Å"process and structure used to direct and manage the business and affairs of the company towards enhancing business prosperity and corporate accountability with the ultimate objective of realizing long term shareholder value, whilst taking into account the interest of other stakeholders. † (Malaysian Code on Corporate Governance, 2012). The code that governs the corporate governance in Malaysia is called the Malaysia Code of Corporate Governance (MCCG). This code was recently revised in March 2012 and it is known as the MCCG2012. Besides providing relevant information to investors, this code also aims to encourage transparency management of companies, to enable investors to guide the direction of the company (Nor Azizah Zainal Abidin, 2007). The MCCG 2007 was revised with the aim to enhance the directors’ duty to the companies. With the revised MCCG 2012, there are still many issues arising from corporate governance. However, to some extent there are improvements in some area of the corporate governance. The revised MCCG 2012 contained a few improvements in the recommendation. This Code now establishes clear roles and responsibilities where ethical standard should be formalized through the code of conduct by the board to ensure its compliance. Through the company’s code of conduct, it mandates the board to formulate system of compliance and ethical standards. Besides, it also includes ensuring that the company’s strategies promote sustainability. There are many improvements made under reinforcement of independence. 3. 1 mandate boards to undertake an annual independent director assessment. For an individual to serve as an independent director, 3. 2 mandate a cumulative term to nine years. Under 3. 3, justification and shareholder’s approval is needed if the board retains as an independent director. And lastly MCCG 2012 recommends that a majority of independent directors must be in the board and the board chairman is not an independent director. These were not in the MCCG 2007. The most important improvement under the MCCG 2012 is to ensure timely and high quality disclosure. Under this the board should make certain the appropriate disclosure procedure and policies of the company. Also, for effective dissemination of information, board should encourage the company to leverage on information technology. This is to promote better use of technology. Furthermore, with the existing recommendation, MCCG 2012 also state that the board should also encourage pool voting in order for strengthening the relationship f the company and shareholder. This imposes duty to inform the shareholders of their right to demand a poll vote by the general meeting chairman. The concern here is whether the revised MCCG have enhanced the corporate governance of the companies in Malaysia. This code calls for voluntary compliance, coupled with the requirement in the listing rules of KLSE which make mandates disclosure of the extent of compliance with the best practice sets out in the Code, while allowing for some flexibility in its implementation by companies. The aim here is to provide necessary information and encourage disclosure to investors who entrusted their funds to companies, so that they can monitor the way it is being run (Finance Committee on Corporate Governance, 1999). This Code has somehow reduced the number of financial scandal but definitely not completely clear it off. There are many scenarios that company collapsing due to financial scandal as what was initiated by the BMF (Bank Bumiputera Finance) scandal. The law governing director’s duty consist of various forms of law. These duties have been observed also contain a plurality of legal fields such as company law and employment law (Hee, 2003). Section 132(1) of the Companies Act 1965 requires a director to use reasonable diligence and to act honestly in the discharge of his duties. The duty to act in the best interest of the company as a whole also from common law covers the collective interest of both existing and prospective shareholders. It is suggested that the common law fiduciary duty to avoid conflicts of interest should be codified to allow directors to be clear about their obligations in conflict situations. KLSE listing Requirements stipulates that public listed companies must got at least two independent directors. Individuals who are expressly excluded from being eligible to act as independent directors include major shareholders, professional advisers or relatives of an executive director or major shareholder of the listed company (Hee, 2003). This provides a better equilibrium of powers between directors and independent directors. The auditor actually provides a check on the information aspect of the governance system rather than having a direct corporate governance responsibility. As widely recognized, the duties of the audit committees have been related to internal audit financial reporting and external auditor. The importance of an audit committee in the framework of corporate accountability is where audit committees are expected to act as the guardian of investors’ interests and corporate accountability suggested by the wide adoption of audit committee (Saidin, 2007). The main duties are to inspect and form an opinion as to whether the financial statements have been drawn up in accordance with the financial reporting standards of Malaysia and the Companies Act 1965; to obtain reasonable assurance that the financial statements are free from material misstatements; and to examine and form an opinion whether the financial statements give a true and fair view of the financial position of the Company as of the financial year end and of its financial performance and cash flows of the year end (Yycadvisors, 2012). The pertinent issue in corporate governance is due to mismanagement, director’s duty not well performed, abusing the minority projection / shareholders and not having meetings often to update what is going on. Management or board should practice the commonly accepted principles of corporate governance such as independence, accountability, roles and responsibilities, integrity and ethical behavior, and transparency. A company’s board should have a number of independent directors. They should be individual with no connection with the company other than a seat in the board. Also, selected independent directors should meet the â€Å"independence† test under the regulatory rules and also to serve with independence of minds. This process of selecting independent directors is likely to maintain their independent mindedness (Rahman Salim, 2010). To create a system that holds decision makers accountable while according proper respect to their authority over corporation is a challenging thing for corporate governance. The market, shareholder voting, and civil and criminal liability is the regular accountability mechanism. In theory, to create incentives for deterring self-dealing and other forms of misconduct and for responsible decision making these mechanisms work together. However, in reality, these contain flaws that allow individuals to occasionally exercise an irrational discretion when making decisions that will affect many others. The impact can be distressing for investors, employees, and the economy when the governance system fails (Jones, 2010). Given the control of publicly held companies, management should be accountable to its board of directors. The board, in turn, should be accountable to the shareholders and other stakeholders. The principle of accountability can be enhanced by many ways, such as enforcing rules and laws, protecting shareholders’ rights, imposing duties on officers and ensuring the scrutiny of the company’s financial statements by independent auditors (Rahman Salim, 2010). To provide creditors, depositors and shareholders creditable assurance that they will abstain from fraud activities, financial transparency would be an important mechanism. Timely and accurate disclosure should be made regarding all materials matter concerning the corporation is one way to ensure excellent corporate governance. The voluntary items disclosed in the annual reports, the time of the information to be released and quantity of information influenced by the board of directors. In disclosing all the relevant information in the financial reporting, the BOD will be transparent when they are independent and examine their responsibility to be accountable to the shareholders. To ensure the quality of the financial reporting process is one of the main functions corporate governance play. Financial reporting should be prepared with integrity which relies on corporate governance. Dependency of the integrity of financial reporting is highly on the performance and conduct of individual involved. What lead the company to reporting failure is when the corporate governance fails where most of them manipulated their financial statement to meet the performance expectation. Research also has found that there is a connection between weaknesses in corporate governance with bad financial quality, fraudulent financial statement weak internal control and earnings manipulations (Norwani, Mohamad, Chek, 2011). Problems that arise in companies in Malaysia regarding corporate governance have to do with the political interference to certain extent. State/government can be said as the â€Å"real† company controller compared to law/policy regulated under corporate governance. For example, the famous corporate governance failure in Malaysia the scandal of Perwaja Steel Sdn. Bhd.. Perwaja, a company owned by the government in collaboration with a Japanese company, Nippon Steel Corporation that was established by HICOM Bhd. in 1982, to fulfill the government’s mission in implementing the heavy industrial policy (Nor Azizah Zainal Abidin, 2007). This can be seen as an example where the state, as a shareholder in the company, has direct interest to it. Fraud and corruption can easily happen with the existence of this relationship. Due to the misconduct of directorship the corporate governance of Perwaja collapsed. Perwaja faced with corruption and mismanagement in tender and contract awarding. Furthermore, doubtful trading transactions and payments were carried out to non existing companies (Netto, 2004). There are one sided contracts between Perwaja and both local and foreign companies plus with erroneous records and many of millions ringgit were unauthorized (Norwani, Mohamad, Chek, 2011). This shows the failure of corporate governance in Perwaja Steel Sdn. Bhd.. However, with fresh funds being injected by the government today, Perwaja is still in business (Netto, 2004). In other case, like the Malaysian Airlines System Bhd. (MAS) faced with internal management problems. Tan Sri Tajuddin Ramli, the largest shareholder in MAS who held both Chief Executive Officer plus with chairman position, entered into unprofitable business activities whereby he had over expansion the flight destination, has caused the occurrence of governance failure (Norwani, Mohamad, Chek, 2011). The new management under Tajuddin Ramli had already cause MAS to suffered huge debts, prior to the Asian Financial Crisis. This had put MAS at risk during the crisis as all their transaction were done is UD dollars (Nor Azizah Zainal Abidin, 2007). Due to the veto power of the government in MAS’s management the decision on airlines destinations were subjected to government’s decision and approval. To comply with Malaysian foreign policy, MAS had to oblige and extend its services, where at that time, not popular destinations or less concentrated areas were decided by the government. This decision contributed lower return to MAS. From this point of view, we can see that the government/political involvement in business have a huge influence in the management of the company. Besides another reason of governance failure of MAS was due to increased in capital expenditure caused by many orders on planes from 1998 to 2001. It was simply a mismatch between earnings and expenditure in the financial reporting, whereby earnings were is ringgit while the latter was in US dollar. MAS ended up paying a higher cost than what was originally ordered for. MAS was then repurchased for more than double of the market price. The question here was before the government’s buyback, why an audit was not conducted which would have a very important bearing on the proper price of the government buyout. An international case study example would be the Satyam Linggam scandal, the biggest corporate scam in India has come to the most respected businessman. Satyam founder resigned as its chairman after admitting to cooking up the account book. The CEO was responsible for the board accounting improprieties that reported a large amount of cash holding that does not exist and overstating the company’s profit and revenue. With a successful effort on the part of investor’s in order to prevent an effort by the minority shareholding promoters to use the firm’s cash reserves to buy two companies owned by them, the scandal all came to know. Consequently, this failed the attempt of expansion on Satyam’s part, which in turn led to a collapse in company’s stock prices, followed by a shocking confession from Raju. History has played a part in the development of corporate governance in India. The first code for corporate governance was published in 1988, but by the Confederation of Indian Industry (CII) entitled desirable Corporate Governance. Unlike codes in some other countries, the CII code did not make statements of principle but addressed specific business issues in India. The code called for â€Å"professionally competent, independent non-executive directors† to make up the board. None should hold more than ten listed company. The code also called for audit committees. A year later 1999 a government committee released India’s National Code on Corporate Governance (Ticker, 2009). Reflecting international standards, the code had the approval by the SEBI and incorporated into stock exchange rules. The government issued guidelines on corporate governance in central public sector enterprises in 2007, covering the composition of the boards, audit committees, accounting standards and risk management (Ticker, 2009). However, corruption remains entrenched in India, not at least in the government administration. The Ministry of Company Affairs and the Securities and Exchange Board need more competent staff experience in corporate governance matters. But rapid economic growth and potential in India suggest that the next few years will see significant changes in both attitude and practice (Ticker, 2009). The failure in corporate governance forced rules and regulations to be enacted (Norwani, Mohamad, Chek, 2011). Recent corporate scandals and the near-collapse of the global ? nancial system all demonstrate the importance of maintaining an effective corporate governance regime (Jones, 2010). With the revised MCCG 2012, duties of all the board of directors are clearly stated, and this will serve as guidance and should improve the corporate governance of the company.

Lack of democracy in the 3rd world Research Paper

Lack of democracy in the 3rd world - Research Paper Example The paper will also provide information about third world countries that are claiming for a democratic system by conducting free elections but still authoritarian tendencies and political violence persists. An audit of the main components of a democratic system will also be part of this report. We take a gander at human rights, the arrangement of government and common society noting in specific the dynamic evolving nature of these elements. The report puts light on the reasons of the failure of the democratic system in third world countries. The interrelationship between democracy, legislation and development is discussed about next. Legislation is seen as a subset of the democratization process. Great legislation helps development and advertises democratic system. Here we also address the factors that could contribute to the sustainability of democratic system as well as will also discuss major development issues caused by the dictatorship. It will also provide an insight to the reasons for which democracy has failed or succeeded in different countries, however, it is not possible to narrate the whole story. At the end of the report a conclusion will be added to support all the findings regarding the lack of democracy and dictatorship in the third world. The democratic government is an institutional arrangement that permits participation through the elections or electoral process. The democracy is focused around two standards: political participation and political contestation (Dahl 1998). Political participation obliges that all the individuals who are qualified to vote can vote freely. Electoral processes must be free, reasonable, and focused. When the votes have been cast and the winner reported, power must be calmly exchanged starting with one individual then onto the next. These criteria are to be reproduced on a regional, state, and national level. Contestation alludes to the capability of individuals to