The Comitatus Relationship in Beowulf Essays - 602 Words

Throughout history rulers have always been protective of their kingdoms. In hopes of always being in control of their territory, rulers develop special relationships with the people to protect them. This relationship was usually achieved by of instilling fear into the minds of their warriors, or instilling respect between each other. In the story Beowulf the relationship between the ruler and his thanes is that of honor, friendship, and respect. In Anglo Saxon stories, the relationship between the ruler and his thanes is known as comitatus. The comitatus relationship requires that the thane swear to defend a lord to their death, while he provides them with the protection and a share of his wealth and weapons. This sounds like a typical†¦show more content†¦Similar in structure to many other protection relationships, the bond between the lord and his thanes was often family oriented. This always seems to be the case in a protective situation in which a lords life depends upon the dependability of his/her warriors. Because Grendel is a descendent of Cain, and Cain being the most notorious brother slayer, shows that Anglo Saxon culture look very poorly upon a person going against his family. In Beowulf, the comitatus relationship is seen between Hrothgar and his retainers and between Beowulf and his men. The comitatus also extended to a long-standing bond between the Geats (Beowulf?s people) and the Danes (Hrothgar?s people). Because of this bond, Beowulf and his men left their homes and traveled to the lands of the Danes to help them in time of need. This social tie within the society makes the comitatus relationship even stronger. Furthermore, the lord and Thane relationship is represented well in Beowulf. In the first part of the story, the thane Beowulf protects the lord Hrothgar, Beowulf believes in what Hrothgar stands for and is willing to fight for him. Not only does Hrothgar give Beowulf treasures, but he also puts his trust into him: Now Beowulf, best of men, I will love you in my heart like a son, keep to our new kinship from this day on(Crossley, 32). This is an excellent portrayal of the lord and thane relationship, and shows how much appreciationShow MoreRelatedBeowulf Analysis1236 Words   |  5 PagesKnowing Your Place In the poem Beowulf, the author shifts from Beowulf being an orphan to being a king, by incorporating underlying themes such as strength and skill, identity, and shift in power to demonstrate the importance of social structure and the adherence to the comitatus code between noblemen and thanes. The most important literary element that the poet utilizes is strength and skill for the reason that the better you are in combat the more respected you are and the greater your rewardsRead MoreBeowulf : The Epic Of Beowulf1027 Words   |  5 Pages To begin, Beowulf the poem has a unknown author, Beowulf is an epic poem. In Beowulf he is challenged by the murderous monster Grendel, Grendel is eating and slaughtering Hrothgar the King of the Danes men and people, the king needs Beowulf s help in defeating Grendel, Beowulf ends up killing the monster and is now tormented by the monster s mother that is much larger, she is no match for Beowulf and he kills her as well, lastly it is Beowulf†™s last battle after he has been king of Geatland forRead MoreComparing The Epic Of Beowulf979 Words   |  4 Pageswarriors defending their community and their king. The society reflects these values and Beowulf symbolizes this era and its aspects very accurately. The epic of Beowulf is structured around oral writing, the concept of comitatus, Pagan-Christian tension, and warriors. At the time, there was no form of writing meaning all the stories were orally composed, which leads to certain mechanisms and strategies being used. Beowulf was originally composed in Old English and in rhythmic meter to make it easier toRead MoreThe Theme of Father/Son Relationships in Beowulf the Song of Roland1680 Words   |  7 PagesThe Theme of Father/Son Relationships in Beowulf The Song of Roland Thomas Lazzaro Professor Fisher Literary Patterns of European Development Paper #1 2/6/97 The representation of father-son type relationships in early Medieval literary works is a key theme early authors used to give their works more depth and meaning. Two works that use the theme of father-son relationships are Beowulf and The Song of Roland. In Beowulf, the relationship between Hrothgar and Beowulf is one in which there isRead MoreTheme Of Death In Beowulf1097 Words   |  5 PagesBeowulf is an anglo-saxon epic that details the life of Geat warrior Beowulf and his dealings with 3 monsters. The society surrounding this epic is one that values lineage, glory, and success. Although these values are perceived as positive, they are often the root causes of the more malicious aspects of this society: blood-feud and tribal war. It should be duly noted that the poem is bookended with two very meaningful deaths. At the beginning of the poem the death of Scyld Sheafson, founder of theRead MoreOral Tradition And The Middle Ages1163 Words   |  5 Pages The epic of Beowulf was successful in defining Anglo-Saxon culture. War was noteworthy in unifying the tribes because it played a major role in keeping the comitatus strong. The comitatus was part of the Germanic tribal organization based on war bound. The leader, the center of the comitatus, had one main goal, to provide pro tection for his fighters and their families. Pillaging villages and waging war on nearby enemies accomplished this goal. By doing so, members of the comitatus pledged theirRead MoreEssay about Gift-Giving in Beowulf and the Odyssey1707 Words   |  7 PagesGift-Giving in Beowulf and the Odyssey Literature has always been an immensely helpful resource when discerning cultural values in societies past and present. Through the study of noteworthy historic fictional and factual, texts we are able to distinguish parallel characteristics present through many different cultures and time periods. These distinguishing characteristics are one of the main things that help us to determine when and how a society, or world culture as a whole changes as timeRead MoreArchetypes And Ideals Of Beowulf And King892 Words   |  4 Pagesdoes something noble and valiant so they want their readers to follow in his footsteps. The Anglo-Saxon Beowulf and Medieval Christian King Arthur display many archetypes and ideals to shape the story and make it exciting. 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Above the emboldenedRead MoreThe Roles Of Women During The Time Of War And Hate1287 Words   |  6 Pages In the story of Beowulf, there are several themes that can be extrapolated from the heavy influence of Anglo-Saxon culture. However, one stands out as an important and interesting theme, which is the roles of women during the heavy comitatus bonds of men in the time of war and hate. What may be easily glossed over as subservience and serving as the shadows of the male characters in the time of Beowulf is in ac tuality an important facet of Anglo Saxon culture. The societal expectations of these

Do Not Feed The Wildlife - 1917 Words

Do Not Feed The Wildlife. Walking along a nature trail, a female deer walks up to a family without fear. The youngest girl goes to feed it some crackers she had in her pocket, but her dad stopped her. He points to a sign that states Do not feed the wildlife. He explains to the little girl, The more we feed wild animals, the more animals become dependent on humans. It is amusing how the Department of Agriculture can get it right about the care of animals, but society cannot get it right about people. The welfare system in the United States has allowed a lot of people to lose what self worth they may have. While welfare programs help to assist families with getting out of poverty, the increase of people abusing the system will destroy the economy. In the beginning, it the founding fathers recognized the need to take care of the sick and the indigent. Nevertheless, it was recognized that local families and communities should decide any welfare that would be provided to the sick and indi gent. This was the belief because it would be too hard for the government to decide who is truly needed and who is abusing the system (http://dailycaller.com/2011/07/05/what-would-the-founders-do-about-welfare/). On August 14, 1935, President Franklin Delano Roosevelt signed the Social Security Act of 1935 into law. The Social Security Act of 1935 was the first step in creating social welfare into what it has become today. The Social Security Act was meant to assist individuals of age thatShow MoreRelatedWhy Hunters Should Not Hunting871 Words   |  4 Pagescourse differs for every state they have the same mission. To teach hunters to be ethical, engaged, well-informed and safe. In Texas kids who are sixteen and younger must take the hunters safety course online but they must also attend a field day. 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Liquidity Risk In The Finance And Banking Sector Finance Essay - Free Essay Example

Sample details Pages: 14 Words: 4052 Downloads: 6 Date added: 2017/06/26 Category Finance Essay Type Narrative essay Did you like this example? I would like to choose liquidity risk for my assignment. Why I have selected liquidity risk? It is because there are some points or question I would like to understand. First reason is about the financial crisis. Don’t waste time! Our writers will create an original "Liquidity Risk In The Finance And Banking Sector Finance Essay" essay for you Create order At 2007, the financial crisis interpreted how quickly and severely liquidity risk can crystallize and certain sources of funding can disappear. It shows the need for the valuation of assents and capital adequacy. The emergence and development of the financial crisis was fully exposed that the banking regulatory system had many deficiencies exist. At the old rules of banking supervision, the core capital adequacy ratio requirements was too low, the banking system is difficult to resist the sudden risk of global financial system. The derivatives in this crisis were failed to achieve spread the risk effectiveness, even expand the risk. For this crisis, we can learn that the liquidity risk is a serious problem and need the new rules of banking supervision. Secondly, the Basel III Accord (BIS, 2010) aimed for the capital problems because of financial crisis at 2007. The inaccurate and ineffective management of liquidity risk was a key characteristic of the financial crisis. They identi fied the banks must improve their liquidity risk management and control their liquidity risk exposures. So the Basel Committee on Banking Supervision (BIS) has issued for a package of proposals to strengthen global capital and liquidity regulations with the goal of promoting a more resilient banking sector (BIS, 2010). Basel III greatly improves the core capital adequacy ratio requirement. The bank should increase their ordinary share capital adequacy ratio to 7% in 8 years. And then they are required to hold capital conservation buffer of 2.5% to withstand future periods of stress bringing the total common equity requirements to 7%. If failing to meet requirements, the bank dividend, stock repurchase, bonuses payments and other act will be strictly limited. As the result of this, we clear know that the importance of liquidity risk management in the future. The last reason, I am interested some characteristic about liquidity risk. First of all, liquidity risk has the close rel ationship with the other risks, such as market risk or credit risk. Market risk always is the main reason of liquidity reason. The market risk and liquidity risk should be an independent measurement or market risk including liquidity risk still is no consistent conclusion. Moreover, other risks have a relationship with fair value. However the fair value often does not exist at liquidity risk. For banks, how to consider liquidity risk for the fair value adjustment is a very important issue. Finally, liquidity risk seem is a very important risk. However it is difficultly divides into market risk and credit risk. This part of the theoretical development and practical application of the subject should be clarified in the future. And it is absolute that cannot ignore in risk management. In conclusion, we know that liquidity risk is a very important for nearer future financial development, we should deeply understand its measurement and management. That why I choose liquidity risk for my assignment. A full paper to be included in the special issue critically evaluating the main issues associated with the measurement and management of ONE only of either: interest rate risk, liquidity risk, or operational risk. Your writing must be supported by reference to appropriate theoretical and empirical literature. You should ensure that you include discussion of the appropriate regulatory framework. (2500 words) (70 marks) 1. Introduction Figure 1.1 Different meanings of liquidity (Source: Adapted from Bartetzky, 2008 page 9) What is liquidity? Liquidity represents the capacity to fulfill all payment obligations as and when they fall due- to their full extent and in the currency required. Since it is done in cash, liquidity relates to flows of cash only. Not being able to perform leads to a condition of illiquidity (Duttweiler, 2009). In other words, it is a flow concept. In the framework, liquidity will refer to unhindered flows among the agents of the financial system. Liquidity refers to ability of realizing these flows (ECB, 2009). These flows can be hindered when there are asymmetries in information and incomplete market exist. What is liquidity Risk? The potential that an institution will not be able to meet its cash flow needs as they arise in a cost effective manner (ECCB, 2006). Liquidity risk is often called a consequential risk. it seems that is secondary risk in the sense that it always follows one or more other financial risks. Usually, a banks main function is to provide liquidity to the economy and not to generate a liquidity crisis. It is hard to imagine that a bank can have a liquidity problem without having incurred earlier severe losses due to market, credit or operational risk (Neu, 2007). The liquidity risk can distinguish between market liquidity risk and funding liquidity risk. Funding Liquidity risk is a trader cannot fund his position and is forced to unwind. It involve a time horizon, the probability of becoming illiquid is typically measured for a given period ahead and can differ significantly according the length of the period (Matz el al, 2006) Market liquidity risk is the market liquidity worsens when one needs to unwind a position. It relates to the inability of trading at a fair price with immediacy. It composes by systemic and non-diversifiable risk. It suggests commonalities in liquidity risk across market and it should be priced. Appropriate regulatory framework Figure2: Elements of a liquidity risk management framework (Source: Liquidity risk management: A Practitioners Perspective) As figure2, it shows a complete liquidity risk management framework must have three parts, governance, measurement management and public disclosure. First, the sound corporate governance and organizational provide the ability of risk framework, risk tolerance, liquidity oversight and funds transfer pricing. Second, the measurement management should have cash flows and data, group management, funding diversification, intraday liquidity, collateral management, stress testing, contingency planning and liquid assets. The last, the public should have liquidity position disclosure. The banks should fit their operations strategy and clear know that their role of the financial system. They should clearly define their degree of liquidity risk tolerance. The banks management should be based on the degree of liquidity risk tolerance to develop their strategy, pol icies and practices. It ensures that banks maintain sufficient liquidity. The managements should continually review the information of banks liquidity development and periodical report to the board of directors. The board of directors should be reviewed and approved on the liquidity management strategy, policies and practices at least once a year and confirm the managements effectively mange the risk. The banks should actively track and control (single/ cross) legal regulation, (single/ cross) industry and (single/ cross) currency, related to liquidity risk exposure and funding requirement. Also it should consider the legal, regulations and operational constraints of liquidity transactions. The last, the banks must periodical provide the public disclosure information to achieve the market participants to judge the risk management framework and the soundness of liquidity. Liquidity risk measurement It is extremely important on the liquidity management process that has the proper identification and measurement. Liquidity is dynamic, and as such, it requires regular and intense monitoring (ECCB, 2006). To assess a liquidity level, one has to evaluate cash flowing into and out of a financial institution and demands for funds to finance obligations outside the balance sheet (Bank of Thailand, 2003). It can identify the possibility of liquidity crisis in the future. Liquidity risk measurement can be done an easy calculation of the current position without further adjustment. The financial institutions would like to use the measurement toot to estimate of cash flow and liquidity position as well as an analysis of financial ratios. The selection of which method or tool used is based on the complexity of structure and management of assets, liabilities and off balance sheet transactions. There are three ways of liquidity risk measurement. First, the management must do a cash flow e stimate to assess the demand for liquidity. And then if they deeply understand their cash flow, it will enable them have a level of liquidity appropriately and adequately. A contingency funding plan is an example of the cash flow estimate. When estimating cash flow, they should assess the possibility of the customers renew their contract instead of depending on maturity period of the contract alone. Cash flow may uncertain in different products because of the uncertain factors about interest rates or customer behavior. Moreover it may have a seasonal or business cycles fluctuate. The management should consider that increase or decrease the liquidity when during the business cycles forecast. Also the institutions need a funding source to protect the volatility of the loans and deposits. It also maintains a liquidity excess for safety. Second, use the ratios can help measure the level of liquidity and ensure the risk limits. However there are some factors need to consider when usin g the ratios. These factors may consider the qualitative information regarding the depositors borrowing ability and other behaviors. When the management make decision depends on financial ratios, they should understand what the ratios are and find which can be adjusted. Also they should know how to make the conclusion from these financial ratios. The last, the financial institutions must have prepared and already to manage the liquidity under irregular circumstances or crisis. They should consider both positive and negative of the liquidity change in each situation. It includes the external and internal factors. 3.1 Liquidity risk measurement on Principles According to Principles for Sound Liquidity Risk Management and Supervision (BIS, 2008), there are some principles about liquidity risk measurement. Firstly, Banks on all important business activities, in house pricing, performance measurement and new product approval process should be composing with liquidity costs, profits and risk. It can take the long-term and short-term risk cost and benefits into the internal pricing and performance measurement. Secondly, Banks should have an integrity procedures to confirm, measure, track and control liquidity risk. This process should include an integrity framework to be in the proper period, estimated the cash flows from assets, liabilities and off-balance sheet activities. It is including establish the liquidity risk ratio, A/D ratio and early warning indicators. I will talk about the early warning indicators as follow. Thirdly, banks should periodically do the stress test to test a variety of short-term or long term related orga nizations specific or market in common of the individual or combination pressure situations. For identify the sources of potential stress and confirm the current risk exposure is higher than the banks liquidity risk tolerance level. The banks should use the result of stress test to adjust its liquidity risk management strategies, policies and positions, and develop effective contingency plans. I also talk about the important of stress test as follow. Fourthly, banks should actively manage its liquidity position and risk, to be in peacetime and emergency time, can immediate achieves the payment and settlement obligations. And thus it can promote the payment and settlement systems operating smoothly. Fifthly, banks should actively manage its collateral positions, the differences between restricted and non-restricted assets. The bank shall pay attention of the legal regulatory who keep the collateral and how it operation. The last, banks should have a formal contingency fundin g plan (CFP), set its clear strategy to cope with the liquidity shortage under the contingency conditions. CFP should outline the policies to manage the specific range of stress environments, establish clear responsibility. It is including the clear procedures for launching and expanded, and should be periodically test and update, in order to confirm the integrity operation. 3.2 Early warning indicators (EWI) After the financial crisis, it is more highlight the importance of early warning indicators. Early warning is very useful. It can provide the following information to do the reference: Rapid growth assets Enhance the concentration of assets or liabilities distribution Currency mismatch increase Decline the weighted average maturity date of liabilities In specific product lines, have a negative trends or risk increase Deteriorated significantly of bank earnings, asset quality and overall financial statement. Negative public events Decline credit rating Stock price decline or borrowing cost increase The risk of debt or credit default swap increase Wholesale or retail funding costs rise Counterparties inquiring or request additional collateral for the credit exposure, even refuse the new transaction. The loss of retail deposits increased The issue of CDs called for redemption prior the maturity increase Increase the difficulty of long-term funding Difficult to issue short-term liabilities. 3.3 Stress test For running the stress test, it need some assume information. There are some examples as the followings: Reduce the market liquidity, the value of current assets decrease The loss of retails funding The correlation between financial market sources or the effectiveness of financial diversification Additional collateral The funding period The loss of liquidity about the off balance street business Possibility of contingency funding amount in bank Impact of credit rating adjustment Foreign exchange convertibility and the use of foreign exchange market Central bank mechanism Capacity of the bank selling cash assets Forecast growth of the balance sheet Liquidity risk management Liquidity and solvency are the twins that are no different in banking. The illiquid problem can lead to a bank rapidly go into bankruptcy. The global financial crisis, which began in 2007, exposed the fact many banks most adversely affected by the crisis have a range of deficiencies in the liquidity risk management systems. They are failure to properly allocated liquidity cost and risk to their business activities and products, lead to misalignment of risk-taking incentives and take excessive liquidity risk. They are failure to adequately identify and account the liquidity risk arising from non-contractual obligations or off balance sheet exposures. They also are failure to maintain sufficient high quality liquid assets to withstand pressure arising from the loss of normal funding source in the crisis. The last, the stress test and contingency financing plan are not included in the overall market, lead to the possibility of the severe and long term liquidity assets shortage situati on. Now, we should understand what risk management is. The risk management is classified two roles, the micro role and macro role. In micro role, first is creating a sound governance framework. The liquidity risk management process should be surrounded by independent controls capable of regularly analyzing and auditing aspects of measurement, monitoring and management. The process should be examined by directors and executives at least annually to make sure that it remains consistent with the firms mandate, structure, and growth plans, and is relevant in the market and regulator environment. Second is implementing proper measures and reporting. The firm should develop and use robust liquidity risk measures that are applicable to its business. While balance sheet measures can provide useful point-in-time stock measures, these should be supplemented by dynamic flow measures that take account of gaps, durations, probabilities of draw-down, disposal discounts, and loss of marke t access. Third is using tactical controls. Limits should be created to control all relevant aspects of liquidity exposure, and should relate directly to the firms liquidity risk mandate. Fourth is developing a crisis management process. A centralized crisis management program, that is regularly tested and updated, must be a management priority. Knowing when to invoke the program is absolutely essential, as any unnecessary delay can prove costly. The last is performing ongoing reviews. A Firms liquidity risk process should be thoroughly vetted by internal and external auditors to ensure that it meet necessary governance and regulatory standard. Auditors should verify proper independence and segregation of duties between those generating and controlling liquidity risks. In macro role, first is conducting regular inspections. Regulatory and industry bodies should regularly examine the liquidity practices of institutions operating in their jurisdictions. Authorities should insist on the creation and use of contingency programs, as these can help minimize instances of systemic dislocation. Second is promoting competition. It is clear that market makers, dealers, and exchanges have a central role to play in the provision of financial asset liquidity. They must be allowed to operate in a competitive and efficient manner, and regulators should promote and prudent deregulation measures that allow for greater competition. Third is avoiding fragmentation. Regulators must avoid actions that lead to market fragmentation. This represents a balancing act, as it is generally beneficial to promote alternatives in order to keep competition strong. Fourth is minimizing costs. It is well established, theoretically and empirically, that measures that reduce the cost burden of participating in a trading, investment, or funding market lead to an increase in activity. Fifth is harmonizing accounting treatment. Firms are periodically precluded from participati ng in a market or transaction as a result of accounting rules. The last is reinforcing proper capital allocations. Global financial regulators have generally done a creditable job in ensuring that financial institutions preserve sufficient capital for core market and credit risks. 4.1 Liquidity risk management on Principles Take a lesson learned from the crisis, the Basel Committee issued the Principles for Sound Liquidity Risk Management and Supervision (BIS, 2008) to improve the international standards on liquidity risk. There are some principles used for manage and monitor the liquidity risk. Firstly, banks should continuously maintain non-restricted, high-quality liquidity assets as a buffer, to do insurance for the specific range of liquidity stress situation. Buffer on the use of these assets to obtain funding, should not be legally, regulations and operating restrictions. Secondly, banks should establish a funding strategy to provide the effective diversification of funding source and tenor. The bank should maintain an ongoing presence in its chosen funding markets and strong relationships in funds providers to promote effective diversification of funding sources. A bank should regularly gauge its capacity to raise funds quickly from each source. It should identify the main factors that a ffect its ability to raise funds and monitor those factors closely to ensure that estimates o fund raising capacity remain valid. Those two principles are that the banks should follow. Furthermore, there also are some principles that the supervisors should follow. Firstly, supervisors should regularly perform the overall liquidity risk management framework and liquidity position for a comprehensive assessment. It determines supervisors deliver an adequate level of resilience to liquidity stress given the banks role in the financial system. Secondly, supervisor should follow the bank internal reports, monitoring a combination of internal reports, prudential reports and market information, to supplement its banking liquidity risk management framework and liquidity position of the periodic assessments. Thirdly, Supervisors should require the banks have an effective and timely remedial action to address deficiencies in its liquidity risk management processes or liquidity pos ition. The last, supervisors should communicate with other relevant supervisors and public authorities, both within to enhance the effective cooperation regarding the supervision and oversight of liquidity risk management. In normal times, they should have regularly communication with the nature and frequency of the information sharing increasing as appropriate during times of stress. A concluding section that reflects upon what you consider to be the main challenges to both banks and regulators with regard to either interest rate, liquidity or operational risk in the coming few years. (1000 words) (20 marks) Basel III developed by Basel Committee on Banking Supervision (BCBS) is a comprehensive set of reform measures at December 2010. It aims to improve the banking sectors ability to absorb shocks arising from financial and economic stress, improve risk management and governance and strengthen banks transparency and disclosures (BIS, 2010). It increased the capital requirements for increase the bank level which will help raise the resilience of individual banking institutions to periods of stress. The minimum common equity requirement increase from 2% to 4.5%, banks is required to hold a capital conservation buffer of 2.5%. Tier 1 capital requirements will increase from 4% to 6%. And the requirements will progressively increase in the future year. However there still have some challenges to both banks and regulators with regard to liquidity risk in the coming few years. The Basel III process is a disaster said by Simon Johnson who was Chief Economist of the International Monetary Fu nd (IMF). Some experts indicate the banks have misrepresented and the officials have misunderstood reality. According to Professor Anat Admati (Stadford University) and her colleagues, they make three main points. First, the basic economics behind official thinking is wrong. Second, the Basel process uses dysfunctional methods to adjust capital requirements to reflect the risk of various kinds of assets. Third, capital requirements should be simplified and greatly increased. It seems that Basel III still not perfect. I will talk some challenges as the follow. Firstly, small and medium banks are very difficult to implement Basel III. Nowadays, the small and medium banks average return on capital is 20%, while the capital adequacy ratio is 10%. After the implementation of the Basel III, the capital adequacy ratio needs 13% to 14%which the capital adequacy ratio will increase 30%. Based on the present capital return ratio, the operating model remains unchanged. The return may declin e to 15%. They are going to be using in the denominator risk-weighted assets, So it looks like theyre being realty tough on the top number, but by using risk-weighted assets most banks fall into the category already and are fine said by Paul Miller who is FBR analyst. So many banks can fulfil the requirement and only small banks have the negative effect. Secondly, Basel III may be a difficult challenge by European banks. It really does hurt the European banks. I would have liked to see them come out tougher, I thought they were going to come out tougher, but in reality they couldnt because of the position of the European banks also by Miller. It is because European banking supervision rules is most loose. They do not have a large-scale supplementary capital after the financial crisis. In all European commercial banks, Deutsche bank has the highest level of capital adequacy ratio but only is 10.8%. They need to issue 9.8 billion euros of shares to avoid the negative effect of cap ital shortage. The new rules will undoubtedly reduce the banks profits. The liquidity risk also will increase. Thirdly, Basel rules leave banks overcapitalized. In the next 10 years, at the end of 2019, we will have overly liquid, overcapitalized banks, said Mr. Grubel who is UBS AG Chief Executive. This may be a long term challenges but it also means the world would not have a lot of growth in the coming few years. It also affects the banks return. But the good news is that the interest rates will relatively low in the coming decade which should help stimulate economic growth. The low interest rates also mean that the banks will have strong liquidity. Fourthly, Basel rules lead to dividends reduces. Due to reduced dividends, it leads to the attractiveness of banking shares decrease. Less people invest in banking stock. The banks capital will decrease and it also affect the liquidity reduce. For avoid this situation, Federal Reserve issued guidelines on how it will decide whet her large U.S. banks may increase dividends and buy back shares, requiring the lenders to submit to stress tests of capital (Bloomberg, 2010). Its guidelines show that they response to Basel III to face the challenge and meet the requirement. The last, Asian economies are in the strong rebound after the global financial crisis. However the large cash flow into Asian raises people concerns about inflation and market volatility. Because of the low interest rates policies in the America and European, many international investors invest their money into Asian market to make a higher returns. However the inflation is following the large cash flow into Asian. Second is the capital flow. If the capital flow into Asian is short term and speculative, it may disappear suddenly. It will repeat the financial crisis at 1997. It led to many countries currencies extremely devaluate. Many corporate will bankruptcy, resulting in large-scale economic loss. And it will lead to banks have a large am ount of bad debts and increase the liquidity risk. In conclusion, Basel III would like strengthen the regulation, supervision and risk management of the banking sector. However it also provides more challenge to banks. BIS should keep improve the Basel III. It is because the liquidity risk still is a serious problem in the forecasting few years. The Banks and Regulators should keep follow the principles for Sound Liquidity Risk Management and Supervision to do the measurement and management. It is very important when they face the challenges in the comings few years. That is the end of my Risk 2 assignment.

The Prevalence And Effect Of Workplace - 2014 Words

Workplace bullying is a significant but complex issue that presents challenges for a large portion of Australian firms. Depicted as a form of psychological violence, there have been continuous cases resulting in serious mental injury or even death. Accordingly over the past decade, research against workplace bullying has rapidly increased internationally including Australia. Since its first study in the UK, following studies agree on the fact that workplace bullying has become a hazard affecting people in their daily work-life. Special attention is required as it is not a matter exclusive to a certain region or industry. Its negative impacts being evident, managing and preventing it is a major task for all workplaces concerned.†¦show more content†¦It found that 6.8 percent of Australian workers have been bullied at work six months prior to being surveyed, with more than half experiencing bullying for longer than six months period. (Dollard 2012) Also, the news article on ‘the human cost of workplace bullying’ claimed that such conditions were costing Australian economy between 6 to 36billion dollars a year. The major reasons pinpointed were the reduced productivity, increase in number of absenteeism and turnover. In addition to its impact on economy, workplace bullying has a devastating effect on the individual employees. Bullying can bring significant damage to the victim’s wellbeing, which in extreme cases leads to suicide. Regarding a research conducted by Toni Mellington, an Australian health psychologist, there is a direct negative relationship between bullying and health. (Gregor 2015) Employees who claimed to have been bullied reported poorer health, with an increase in severity of bullying increasing the chance of poorer health. The finding also suggested that the experience of merely witnessing bullying can also have a negative impact on one’s health, backing up the fact that bullying affe cts not only the individual but the entire firm. The eye-catching studies above urge a prompt reaction towards resolving workplace bullying. Currently everyone at workplace is potentially at the risk of being bullied. Knowing the prevalence of bullying and the

Eradicating Social Ills Free Essays

ASSIGNMENT 2 FIK 3042 ENGLISH FOR COMMUNICATION 2 ERADICATING SOCIAL ILLS AMONGST TEENAGERS GROUP: EL-AO4 Prepared by NAME| ID NUMBER| TELEPHONE NUMBER| Kasthuri Bai A/P Thangarajah| D20111049818| 013-9801264| Lecturer : Dr. Lajiman bin Janoory Dateline :6th November 2011 ERADICATING SOCIAL ILLS AMONGST TEENAGERS. Nowadays, the social ills amongst teenagers are so rampant that they are posing a great problem in the society . We will write a custom essay sample on Eradicating Social Ills or any similar topic only for you Order Now Before we go further , let us see what are actually these social ills among the teenagers. There are many types of social ills that are affecting our teenagers at an alarming rate. Some of them are addiction to drugs , smoking,gangsterism,vandalism,bullying,illegal racing and many more. Everyday we hear and see the effects of these social ills in the form of suicide,accidents,rapes,snatch thieves and brutal crimes. The effects of these social ills amongst teenagers are affecting the nation badly and causing great setbacks in the country. The spreading of social ills have to be stopped immediately to save our youngsters who are the future generation. How are we going to eradicate these social ills if we do not know the root causes of these problems Therefore,before we find ways to eradicate the social ills amongst our teenagers, let us also dwell in the root causes of why the youngsters of nowadays fall an easy prey to the negative elements awaiting them. These causes can be categorized into several factors,mainly due to family crisis and external factors such as the influence of friends and environment. Living in this materialistic world can be very challenging to even adults,so what more to say for a teenager who is still struggling between adulthood and childhood. The need for good guidance ,counceling and parental love is essential to these youngsters. Whom should they turn to if the circumstances arise? Can they turn to their parents? Yes, under normal circumstances ,parents should be the child’s number one counsellor but,is this the case in most child’s life? In fact the parents are the last to know about their child’s problem,which is a pity! This is because nowadays,mostly both parents are working and are too busy chasing their own goals, that they fail to see what their children are undergoing. Usually these parents leave their children to fend for themselves or in the care of a babysitter who most of the time doesn’t put her heart into the responsibility given . The outcome is , the child feels neglected and deprived of parental love. Another reason is when a child comes from a broken family,the frustration and anger is taken upon the poor child. As a result a child grows up to be insecure and lacking in direction. Hence falling an easy prey to the awaiting threats outside. Children are also stressed when parents are not understanding and pressure them to study something which is not of their interest . Parents who subject their own desires and ambitions on their children can cause a lot of unnecessary pressure on them. Peer pressure and the need to proof oneself in order to be accepted is also another factor why the teenagers so easily succumb to the social ills around them. Constant innovation and development also provide boundless network which promotes extreme socialisation among our teenagers. Hence the exposure to all the unwanted elements in the society! Teenagers who do not know how to cope with stress, resort to these unwelcome means of escapism. We have seen some of the main reasons of why the social ills are spreading like an epidemic amongst our teenagers. What can we do to help them or to curb these social ills? There are a few very important things that can be done to nip the bud from the beginning itself. Firstly,the role of a family is very important . Parents who are responsible,who allocate enough quality time with their children can be a source of confidence for their children. Children will be able to rely on their parents for any advice and grow up to be a confident and secured person. These children often will not fall prey to the social ills as they are able to differentiate between good and bad and have no need for any form of escapism as they get enough love from their parents. Parents also must make sure that their children do ot lack of religious knowledge. As we know, all religion wants its followers to be a good human and abide by the rules. So if a child is given enough religious education and is taught to respect the humankind then,the chances of him or her resorting to violence is slim. Too much freedom and too much money given to teenagers will only mean trouble. Therefore parents should act wisely and explain to their youngsters why sometimes they cannot have whatev er they want and why they must always obtain their parents’ permission before going out. Parents should always be aware of their child’s whereabouts but at the same time should not also be too strict and practice veto power at home. They should be able to compromise,understand and respect their child’s feelings too. Maintaining a healthy relationship with children is an important measure in reducing these social ills amongst teenagers. Otherwise most teenagers will choose to rebel against their parents and try to prove to everyone that they are in control of their lives Besides the role of family ,the role of teachers and counsellors in schools is also very important in preventing social ills amongst teenagers. A teacher must always be sensitive to a child’s problem . A teacher must be able to gain a child’s trust in order for the child to confide in her or him. A teacher must make it her responsibility to solve a child’s problem and not be someone who simply wants to teach but is not much bothered about the child’s affair. Teachers can help a lot to curb these social ills if they play their role kindly and caringly. They should notice things and try to help the youngsters by sending them to a counsellor or by counselling them themselves. While teaching in class , a teacher must always stress on the moral values and teach their students to avoid falling prey to bad influences. The education department and the mass media must always remind these teenagers to avoid doing all these illegal activities and the repercussions should anything unpleasant happen. The enforcement agencies can be invited to give talks and show slides of what is happening and how bad it can turn into,to create awareness amongst teenagers. A lot of opportunities must be created to allow teenagers to involve hemselves in activities such as outdoor games,indoor games,dancing and drawing classes,photography clubs and some social services that will divert the attention of these teenagers . The teenagers will not only be occupied but will also benefit from these extra activities. This healthy activities can be organised by the residential commitees or by the â€Å"ketua kampung†. Healthy competition with lucrative prizes can be held to attract th ese teenagers. The State government and the district office can help with these measures. Money used to cure the victims of the social ills in the form of rehabilitation centres and their medication can be put into a more healthy usage such as the above mentioned activities. After all one must agree that â€Å"Prevention is better than Cure†As a conclusion , everybody has to play an important role in eradicating social ills amongst teenagers . Eventhough these problems seem difficult to solve but as an Ethopian proverb says, â€Å"When the spider webs unite,you can tie up a lion. † (Infinity Web Development, LLC, 2002-2011) (OPpapers, 2011) How to cite Eradicating Social Ills, Papers

Issues Faced by the Oman Air-Free-Samples-Myassignmenthelp.com

Question: Give a brief of the background of the Oman Airline and discusses the various features of the services that it provides. Answer: Introduction Economic growth in a country is significantly related to the integrated market planning by various industries. Integrated Market Planning means recognition of the plan value that involves evaluation of strategic roles of a variety of communication disciplines like public relations, sales promotions and personal selling and combines all of them for providing consistency, maximum communication impact and clarity (Hill, Jones and Schilling 2012). In the context of the airline industry, integrated market planning is similarly an important aspect. The strategy that decides the air budget of any Airline is an important part of the IMP of the Airline. In todays globalized world, many people fly to other countries for better job opportunities. In this scenario, people are looking for budget airlines, so that they can avail affordable air travel. The economy and the budget airline travels are having more number of clients as most people are interested in simple travel to home, than a luxuriou s ride. Hence, the budget strategy of an airline is of great importance in the airline industry to get hold of the air competition market (Wit and Zuidberg 2012). This report, in the collaborating paragraphs, will focus on the various aspects of air budget and competition strategies with special reference to the Oman Airlines, along with a brief of its background and will also discuss the issues faced by Oman Airline regarding its air budget and its effect in the budget airline market. Furthermore, this report provides the solutions for the budget market issues faced by the Oman Airline and provide recommendations for new innovative plans and policies for the airline budget and also for the management and leadership performance, as the changes in budget policies will attract more people, which will require certain changes in the management and leadership as well. Discussion: Oman air was founded in 1993 and since then it has seen massive growth and has been playing a major role in making Muscat an important traffic hub in the Middle East, as it supports the industrial, tourism and commercial sectors. The airline made its start in March, 1993, when a wet-leased Boeing 737-300 from Ansett Worldwide Aviation flew from Muscat to Salalah. In July of that year, the airlines first international flight was operated to Dubai. In November, 1993, Oman Air started operating international flights to Trivandrum, to Kuwait and Karachi in January, 1994 and Colombia in October, 1994. Later, the airlines started to provide their services in places like Mumbai, Abu Dhabi, Dhaka, Chennai and Doha. Oman Airlines was admitted to the International Air transport Association (IATA), the international aviation industry trade group, in October, 1998 (Heath-Brown 2015). In 2007, the Omani government played a huge role in the establishment of the Oman Airlines. The Omani Government recapitalized the airlines by increasing the shareholding form 33% to approximately 80%. On 26th November, 2007, Oman Air commenced its long- haul services by launching flights to London and Bangkok. During the Dubai Air Show in 2009, Oman Air finalized an order that included five Embraer 175 aircraft along with 5 other options, which was received by the airlines in 2011 (Henderson 2015). The year 2010 was a year of achievement for the Oman Airlines. In this year it became the worlds first airline to offer Wi-Fi internet services and also mobile services on certain selected routes. In 2011, at Frances Laurier d'Or du Voyage d'Affaires, the airlines won the Gold award for being the Airline of the year. With its head office at Muscat, near the Muscat International Airport, the Oman Airline has established within a very short time span. With the passage of every year, this ai rline is aiming to hold its market with improved and better facilities (Roy 2012). Budget airline Market Budget airline market refers to the airline industries, attributed with a low-cost carrier or low cost airline. The fares for air travel in such airlines are lower and cheap. To cover up the revenue lost for decreased tickets, these airlines charge extras for food, seat allocation, baggage and priority boarding. Almost all carriers that have low ticket prices and limited services are termed as low cost carriers, irrespective to its operational models. Low cost carriers differ from the regional airlines it should not be confused with it, providing short flights with full time services or without services, with reduced fares (Derudder and Witlox 2014). The demand for low cost airlines is high and they attract more customers. With regards to the Oman Airline, if these budget strategies are used, it will increase the financial growth of Oman Airline rapidly. Oman Airlines is the flagship carrier of the Sultanate of Oman. Being the flagship carrier of Oman, it is availed by many people, a s it operates both domestically and internationally. But, as the air tickets of Oman Airline are very costly, the customers are availing services of the other airlines. In this scenario, the use of the abovementioned budget airline policies will help the Airline to retain its customers and profitability. The following gives a brief statistical view of the change in passenger growth the Oman Air has faced: Oman Airline and competition strategies The Oman Airline has a development plan, approved by the board of directors in 2013, that guides it in investing significantly in new narrow body and wide body aircraft, technology and staff and new destinations. According to this plan, Oman Airlines aims to add 50 new aircrafts by 2018 and 70 aircrafts by 2020. Apart from this, in 2014 Oman airlines added many new destinations like Jakarta, Manila and Duqm Sohar in 2016 and is aiming to add more new destinations in 2017 (Teigeler 2015). The Oman Airline has also made new innovations like new and improved economy and business class seats, including the latest in- flight- entertainment systems (IFS) to attract more customers. The Oman Airline is implementing various policies to provide the customers with the best products and services and to achieve maximum profitability (Galang 2012). Oman Air does not explain itself against competitors. It is so because other carriers in the region consist of different business models and Oman Air, instead of being a common Gulf carrier, offers a unique expression of Omani hospitality, identity and culture and focuses on the every aspect of passenger experience, including competitive pricing through its official website, travel agent partners and call centers. The Oman Air has also included services in long destination routes like door to door limousine services, including the lounge to aircraft limousine services to first class passengers at Muscat (Supian 2013). As to the competition strategies of Oman Airline, it relies on the right balance of code share agreements. It is so because code shares ensure high standards of product and service that the customers expect when they buy it. Oman Airline, which has a global reputation for its outstanding quality, focuses very much on the code share strategy, as it is very much important to retain its market position (Squalli 2012). Hence, the airline operates code share agreements on few specific routes with airlines like Qatar Airlines, Emirates Airlines, Turkish Airlines, Royal Jordanian, Sri Lankan Airlines, Ethiopian Airlines, and Malaysian Airlines. An important part of the Oman Airs market strategy is to bring the maximum number of visitors to Oman. The growth in the number of passengers has been parallel to the growth of the visitors to Oman and Oman has been achieving its mission. The Oman air aims to expand its network significantly and to bring more people to Oman with increasing hub traffic. The Oman Airline, by these strategies, is aiming to meet demands of the market competition and retain its outstanding reputation. Furthermore, the Oman Airline that is owned by the Oman Government receives immense support from the Government (Rezapour, Zeynali and Shahvalizade 2014). The Government has been investing for the development of the Oman Airline and its establishment within the international market and for building its reputation and expanding its fleet. Weaknesses of and threats faced by the Oman Airline Even though, the Oman Airline has earned a good reputation globally, it faces various threats and is attributed with certain weaknesses. Being a small organization, the Oman Air faces a good amount of competition from the neighboring countries. The following PESTEL and SWOT analysis will show the various factors which affect the Oman Airlines and the strength, weakness, opportunities and threats of the Oman Airline in connection to such factors. PESTEL Analysis There are certain factors that affect the airline industry (OConnell 2012). They are: Political and legal factors- The airline industry operate in a highly political environment, where passengers are favored over the airlines as passenger safety is the paramount and the political establishments have been made weary of the airlines and aim towards strict regulatory and operational policies due to earlier inclinations towards monopolistic behavior. With the increasing competition in this industry and regulations in demand, the passengers are able to push for amenities and low prices. Economic factors- Due to certain unfortunate incidents in the global airline industry, the airline industry is affected by certain economic factors. The Oman airline is also affected by such economic factors like declining passengers, high fuel prices, competitions from low cost airlines, high operation and maintenance costs and labor demands. Social factors- With time, there have been major changes in the demands of the consumer class, especially in respect of service. This requires the airlines provide proper services and stabilize their costs. The Oman Airline, having high air ticket prices, is also affected by such factors. Technological and environmental factors- Technological factor plays an important role in the airline industry as, in the already tough business environment, the use of the latest technologies will help the airlines to not only lower the fuel consumption, but also to reduce the costs and improve the efficiency. Environmental factors- The environmental factors refers to the environmental aspects like climate conditions and degree of climate changes in relation to the aviation industry. These factors are one of the main factors that affect the airlines and can be solved by adopting latest aviation technologies. SWOT Analysis SWOT analysis is a method of analyzing the strength, weakness, opportunities and threats of an organization (Pauceanu 2014). Based on the above mentioned factors, the following provides a SWOT analysis of Oman Air: Strength- The Oman air is the flagship carrier of Oman with direct flights to Europe, Asia, Africa, Indian sub-continent and Middle East. The Airline is backed with strong governmental support and hence, does not face problems regarding the fuel prices. Weakness- As to the weaknesses of the Oman Air, it faces a lot of competition from the neighboring countries being a small organization. It lacks connectivity to European sectors like Belgium, Amsterdam and also to America. Moreover, the basic salary paid to the local are very high as compared to the other countries and airlines, as the strict government regulations makes it compulsory to recruit locals. Opportunities- The Oman Air has been the receiver of many awards, which helps the airline in better marketing and increasing sales. Moreover, there are plenty of opportunities for growth and expansion of the OMAN Air, as advertisements can help in getting customers. Moreover, developing partnerships and the aim to build a strong customer based Airline business will ensure profit maximization. Threats- The Oman Air faces threats from the other competing airlines like Emirates and Fly Dubai. These competing airlines use various sales strategies, which will attract more customers and the Oman Air lacks such strategies. Moreover, the Oman Air lacks flight connectivity in many popular destinations. The price of the air tickets of Oman Air higher, whereas the demand for low cost Airlines is increasing rapidly. Tools of evaluation or analysis Evaluation or analysis tools refer to various tools and instruments used for evaluation of the performance and developmental policies used by an organization. Most of the evaluations require the use of a data collection tool, which is a survey or other data collection instrument. Evaluations need to adopt existing tools or create new tools. Tools used for one evaluation may not be used for another (Krajewski, Ritzman and Malhotra 2013).. There are various types of evaluation tools. Some of the evaluation tools are:- Participatory tools Evaluation is an integral part of any business plan from the beginning. The participatory evaluation involves all stakeholders- those directly affected by the plan or by carrying by carrying out the plan, for contributing to the understanding of the plan and in applying that understanding for the improvement in the work. As everyone is affected by using this evaluation, it changes the whole nature of the plan from something done for a group of people or a community to a partnership (Cousins and Chouinard 2012). This tool of evaluation makes sure that the needs of all the stakeholders are recognized and addressed and involves participation by all for improving the communitys quality of life. Therefore, this tool is a group decision making and communication tool which collects information of values and needs of the stakeholders for evaluation. Creative thinking (and problem framing) tools The creative thinking tool of evaluation is also known as the critical thinking tools of evaluation. This tool refers to the analyzing, assessing, synthesizing, reflecting and evaluating of gathered information obtained through experience, communication and observation. This tool involves clear, logical and reasoned thinking to solve problems or for making decisions. It basically means to take a hard look to understand and evaluate and analyze something to understand what it really means. It means the use of new and innovative ideas and to ensure that as many issues possible are considered (Jordanous 2012). This includes collection and recognition of existing information and using it to conclude conditions in different areas or issues. This information is often used as the beginning for understanding a problem or matter. Economic tools The economic tool of evaluation refers to the economic evaluation, which is a process of systematical measurement and valuation of inputs and outcomes of two alternative activities and a comparative study of the two (Drummond et al. 2015). The economic evaluation aims to provide the best course of action on the basis of the evidence available. The various economic tools used for the economic evaluation are:- Benefit-Cost Analysis This tool measures economic efficiency based of the ratio of benefits to cost and evaluates alternative actions (Marglin 2014). It also measures stream benefits and cost over time resulting from a strategic project or plan. Cost Effectiveness Analysis This economic tool is best for comparing the alternative means of delivering similar benefits and it is used in lieu of B/C at times when valuation of benefits become difficult (Glick 2012). In addition, it also measures efficiency and evaluation is done in terms of cost per output unit. Financial Analysis/Feasibility Financial feasibility or analysis means the analysis of the process to complete a project successfully and the analysis of the economical, technological, legal and scheduling factors, affecting it. It is used to determine potential positive and also negative outcomes of a project before a particular amount of time and money is invested in it (Huh, Hwang and Lee 2012). Fiscal Impact Analysis This evaluation tool analyses ad accesses the impacts of a project done on the revenues and costs of the government and aims to identify added service requirements, and includes the estimation of costs and revenues received from fees or taxes (Burchell and Listokin 2012). Economic Impact Analysis Economic impact analysis means to assess the impacts on sales, jobs a d income in a region. It analyses the effect of an event on the economy of a particular area that ranges from a single neighborhood to the entire globe (Shrader-Frechette 2012). Usually, changes in the business revenue, profit, personal jobs and wages are measured or analyzed by this tool. Social/Environmental Impact Analysis The social or environmental impact analysis is an economic tool of evaluation that aims to assess the impacts of certain developmental schemes, projects, plans and strategy on the society, before they are implemented (Glasson, Therivel and Chadwick 2013). Models and decision support tools Models and decision support tools refer to a range of computer based tools that include decision support systems risk management and indexing tools and simulation models that help in prioritizing strategies and assessing progress against targets (Bagstad et al. 2013). These systems or computer programs replicate the reasoning process of experts as they are incorporated with expert knowledge by way of rules which are encoded in the software, providing recommendations when information is supplied. This is one of the latest models and it will have a strong positive impact on the supply chain, procurement and operational management, which will solve the relevant issues, as this model does not support traditional and manual decision making and instead, supports automatic, modern and accurate decision making. Project and program analysis tools This evaluation tool performs a statistical analysis and evaluation with the help of a set of tools and techniques by describing, organizing and interpreting data or information. This tool is used for evaluation of performance against targets or for assessing financial information, including survey information for providing quantitative results from qualitative data (Cole et al. 2013). The Oman Air faces difficulties due to the expensive air budget and also due to the lack of connectivity in other countries. The competitors of the Oman Air have a better connectivity all around the globe and they use low air budget strategies that draw more customers, which is becoming a threat to the Oman Airlines by hampering its market in the global airline industry. In this scenario it is imperative for the Oman airlines to develop evaluation tools for evaluation of its existing strategies and development programs and plans in order to solve the problems. From the above tools of evaluation, the Oman airlines solve its existing problems with the help of evaluation tools like the economic evaluation tools, creative thinking evaluation tools and the project and program evaluation tools. With the help of the economic evaluation tools its can evaluate and analyze the problems regarding its air budget issues. With the help of the creative thinking tool of evaluation it can analyze the existing problems and innovate new methods and policies for resolving existing problems. The project and program tool of analysis can assess its performance against competitors and can also assess its financial information. Apart from this, the Oman airline can also adopt the models and decision support tools, which will provide solutions in an advanced and faster manner. Recommendations For facing the increasing challenges of the other big airlines in relation to the air budget market and the lack of connectivity, there are few things which, if done, can help the Oman Airline to face these challenges. Increase in connectivity-The Oman Airline should aim to increase its connectivity in the European countries mostly, along with other countries. This will help in retaining loyal customers and will attract fresh customers, leading to increased revenue in the long run. Adding new routes and reducing fares- The factors like routes and fares play an important role in the competitive air market. Moreover, like the other competing airlines, the Oman Air should also aim for reducing air fare in the peak seasons. But as all other airline use these techniques the Oman air must use more attractive offers and incentives for the travel agents for selling Oman Air tickets and services. Analysis and evaluation-The Oman airline must make proper analysis and evaluation of its existing strategies and try to make innovations that will meet the market challenges, customer satisfaction (by reducing and making the air fare affordable) and will also maintain profit maximization. Conclusion Therefore from the above discussion it can be said that even though Oman Airline has an outstanding reputation, based on the quality of aircraft and services they provide, it is still facing competition threats from the other big airlines. The Oman Air should, based on the above discussion, use such different tools, strategies and policies in order to solve the issues it is facing in the budget airline market at present. Moreover, if the recommendations, which are mentioned above are given focus by the Oman Air, it will attract more customers and lead to higher profitability and greater efficiency. References: Bagstad, K.J., Semmens, D.J., Waage, S. and Winthrop, R., 2013. A comparative assessment of decision-support tools for ecosystem services quantification and valuation.Ecosystem Services,5, pp.27-39. Burchell, R.W. and Listokin, D., 2012.The fiscal impact handbook: estimating local costs and revenues of land development. Transaction Publishers. Cole, J.R., Wang, Q., Fish, J.A., Chai, B., McGarrell, D.M., Sun, Y., Brown, C.T., Porras-Alfaro, A., Kuske, C.R. and Tiedje, J.M., 2013. Ribosomal Database Project: data and tools for high throughput rRNA analysis.Nucleic acids research,42(D1), pp.D633-D642. Cousins, J.B. and Chouinard, J.A., 2012.Participatory evaluation up close: An integration of research-based knowledge. IAP. de Wit, J.G. and Zuidberg, J., 2012. The growth limits of the low cost carrier model.Journal of Air Transport Management,21, pp.17-23. Derudder, B. and Witlox, F., 2014. Global cities and air transport. InThe geographies of air transport(pp. 103-123). Ashgate. Drummond, M.F., Sculpher, M.J., Claxton, K., Stoddart, G.L. and Torrance, G.W., 2015.Methods for the economic evaluation of health care programmes. Oxford university press. Galang, R.M.N., 2012. Government efficiency and international technology adoption: The spread of electronic ticketing among airlines.Journal of International Business Studies,43(7), pp.631-654. Glasson, J., Therivel, R. and Chadwick, A., 2013.Introduction to environmental impact assessment. Routledge. Glick, H., 2012. Cost-Effectiveness Analysis.University of Pennsylvania. Heath-Brown, N., 2015. Oman.The Statesmans Yearbook 2016: The Politics, Cultures and Economies of the World, pp.931-934. Henderson, J.C., 2015. The development of tourist destinations in the Gulf: Oman and Qatar compared.Tourism Planning Development,12(3), pp.350-361. Hill, C.W., Jones, G.R. and Schilling, M.A., 2014.Strategic management: theory: an integrated approach. Cengage Learning. Huh, Y.K., Hwang, B.G. and Lee, J.S., 2012. Feasibility analysis model for developer-proposed housing projects in the republic of Korea.Journal of Civil Engineering and Management,18(3), pp.345-355. Jordanous, A., 2012. A standardised procedure for evaluating creative systems: Computational creativity evaluation based on what it is to be creative.Cognitive Computation,4(3), pp.246-279. Krajewski, L.J., Ritzman, L.P. and Malhotra, M.K., 2013.Operations management: processes and supply chains(Vol. 1). New York, NY: Pearson. Marglin, S.A., 2014.Public Investment Criteria (Routledge Revivals): Benefit-Cost Analysis for Planned Economic Growth. Routledge. OConnell, J.F., 2012. Performing Strategic Analysis. Pauceanu, A.M., 2014. Strategies for improving the performance of firms operating in Oman tourism industry.Journal of Contemporary Management Sciences,3(1), pp.1-11. Rezapour, M., Zeynali, M. and Shahvalizade, A., 2014. The analysis relationship between privatization of governmental companies and economic value added.Oman Chapter of Arabian Journal of Business and Management Review,3(9), pp.46-53. Roy, A., 2012. Relationship of osmosis: Rise of Emirates, the airline and Dubai, the city.Academy of Taiwan business management review,8(3), pp.1-5. Shrader-Frechette, K., 2012.Science policy, ethics, and economic methodology: some problems of technology assessment and environmental-impact analysis. Springer Science Business Media. Squalli, J., 2012, November. The Performance of the Airline Passenger Market in the United Arab Emirates. InEconomic Research Forum Working Papers(No. 724). Supian, S., 2013. The Selection Study of International Flight Route with Lowest Operational Costs.Abstrak. Teigeler, J., 2015. Arabic Airlines in the European Market. Strategies, Consequences and International Market Changes and Challenges