Bank Funding Structures and Evidence Risk - MyAssignmenthelp.com

Question: Discuss about the Bank Funding Structures and Evidence Risk. Answer: Introduction: The financial crisis of 2007-2008 in the United States is often described as an example of faulty investment decisions by corporate world and household sector. The faulty investment decision resulted in inflation, huge financial losses and insolvency of several organisations. The downturn was so powerful that it impacted the whole economy of the United States and the world causing a serious lack of liquid capital. The liquidity of capital gripped the business organisations, even the big ones which created a shortage of liquid money thus reducing cpaitral flow between the household and the industrial sectors. The economic crisis was so dangerous that it forced big American banks Meryl Lynch, Lehman Brothers and AIG to file for bankruptcy. The crisis was related to lack of regulation of derivative markets and housing industry. According to experts the financial crisis of 2007-2008 was caused by lack of government and institutional control on the housing loan sector. The government of t he United States made law to help the middle class Americans get mortgage loans to build houses at high default rate. A large number of home buyers were willing to borrow money from the banks like Merill Lynch which led to the prices of the houses plummet. The people started taking debts to make houses but were unable to pay back. This led to a fall in the value of the financial securities and derivative market. It created a liquidity crisis for the big banks which were forced to close their operations. The federal government of the United States took over AIG to save it from bankruptcy. The financial crisis took the stock market into its clutches and the entire global securities and derivative market crashed. The led to liquidity shortage in the world which had far reaching consequences (Reinhart, 2013). The global financial crisis showed the world that operational, credit and systemic risks are interconnected and can lead to devastation of the world economy. The United States government created a high risk or subprime mortgage loan to enable the low and the middle class Americans to buy houses. The financial institutions bundled these asset products and sold them to the borrowers. These loans were often bundled with other financial and derivative instruments to attract maximum number of borrowers. Presence of high demand led to a high rise in the prices of houses which once again encouraged people to take more loans. The regulatory bodies in order to ensure the success of the loans easily approved loans through slack underwriting criteria. This led to improper examination of the borrowers credibility to pay back the loan which led to erosion of the value of the securities instruments. Money lent on loans and mortgages act as asset for the banks which generate huge interest income fo r them. The bankruptcy of the vast middle class population created took its toll on the earnings of the banks like Lehman Brothers with advanced risk management systems which appealed the Bank of America and Barclays to take it over (Mensah, 2015). The law of mortgage created by the federal government lacked foresight and left the institutes free to misuse the products to earn high rate of interest. The household sector borrowed without considering its limited financial resources to pay back loans and debts. The regulatory authorities and the approving departments of the banks approved the loans easily without assessing the financial background of the borrowers(Carroll Buchholtz, 2014). They did not examine whether the borrowers were capable of paying the debt back to the banks so that the banks could use it for further lending and earning of revenue in form of interest. It can be stated that the financial crunch of 2007-2008 was consequences of lack of efficiency on the side of th e governments, banks, estate companies and household sector to operate a new profitable law. This operational risk turned a law passed to boost money into the house sector into a reason behind a global financial crisis and credit risk (Helleiner, 2014). The global financial crises affected the banks more than any other body and submerged them into acute credit shortage and risks. The historical incidence showed that the regulatory framework and legal systems in the country have important roles to play in the capacity of banks to take credit risks and lend towards the development of the economic sector. The crisis led to more government regulation and formation of laws to help backs create capital buffers to handle financial and credit risks. The incidence showed that the banks need to work under the Basel III standard to be able to avoid any such crash in the future (Vazquez Federico, 2015). As pointed out that failure of the household sector to repay loans eroded the value of the derivative instruments. The banks which lent money to the middle class to buy houses lost huge revenue because their capital was locked in the mortgage. This gave rise to liquidity risks and affected the credit giving capacity of the banks or credit risk(Correa, Goldberg Rice, 2014). The banks of America also relaxed their credit assessment in order to compete with the European banks like Barclays and Royal bank of Scotland. These American banks lowered the risk assessment parameters of their securities and derivative instruments which ultimately led to the unsecured borrowing done only to earn short term revenue. The banks like Lehman Brothers and Merrill Lynch were sold to at very low prices. AIG was taken over by the government at $85 billion in order to save it from bankruptcy (Diebold Y?lmaz, 2014). Banks are borrowers of money in terms of current accounts and lend money in forms of loans against securities and derivative instruments. The banks make money flow in the global economy and ensure liquidity of funds for production processes in the whole world. The multinational banks are supposed to have more credit giving power than smaller banks. The multinational banks are believed to be at better positions to handle financial crises and follow Basel standards (Kapan Minoiu, 2016). The financial crises led to the fall of big banks which created credit risk and liquidity crunch in the global economy. The derivative market crashed all round the world and the deficiency of available credit enveloped the whole world. The credit risk affected the global economy and created systemic risk which engulfed all the industries creating acute market downfall (Bekaert et al., 2014). Financial derivates products are contracts whose value are dependent on underlying assets like bonds, shares and so on. The mortgages were initially backed by securities which apparently shielded the banks against the risk of losing their credit. The regulatory and approval authorities slackened risk assessment before lending the money which made the loans easily available to the borrowers (Claessens Ratnovski, 2015). The borrowers borrowed huge sum of money against unjustifiable derivate instruments but were not able to pay the loans back. This eroded the value of the securities and caused the share market to crash. Thus, the derivates were acting as securities to guarantee the credibility of the borrowers and the credit giving risks of the banks. They lost their value and risk aversion power due to lack of regulation and assessment from the governments and the lending banks. The derivative market plays a very important role in risk management in the investment function through hed ging and other instruments. Thus failure of the derivative market to hedge risks led to global economic crash (Rajan Zingales, 2015). Financial engineering can help the organisations take risk management decisions and take advantage of the market by choosing between collaterals, swaps and so on. Modern financial engineering can help companies to study the risk and hedge their financial resources to diversify the risk over a large number of financial assets. This helps the companies to derive maximum profit from the portfolio and bring about capital maximisation of the shareholders (Jarrow Chatterjea, 2013). Governance and non-regulatory compliance in risk models or framework help organizations to manage risks and meet their business goals. The stakeholders like the management, employees, governments, financial institutions, customers and supply chains are impacted by the activities of organisations. These stakeholders actually represent the macro economic factors which direct the business strategies of the organisations (Acharya et al., 2013). Financial institutions like banks, especially the multinational banks serve a huge consumer base and enable flow of money between economies. They maintain liquidity of money so that the industrial sector can raise funds to carry on their productions and generate further revenue. The government makes laws and policies which direct lending and borrowing operations of the banks. The apex financial institutions like the Federal Reserve System in the United States of America makes laws and rules which govern the banks and their functions. The laws also have provisions the banks resort to deal with financial crisis (Grubel, 2014). The global financial crisis pointed out that the regulation from government is essential for the banks to manage their market risks and carry on their business. It also showed that even multinational banks need to abide by corporate governance to avoid bankruptcy. The government of the United States created laws to enable the middle class Americans take loans to build houses. The law triggered the banks to lend mortgages against securities having high rate of interests. The regulatory authorities slacked the credit availing requirements to ensure maximum availing of loans. The household sector or the customers availed the loans but were not able to repay them because they were insolvent themselves. The bank authorities or managements relaxed the eligibility criteria and underwriting rules to ensure maximum loan market penetration and revenue. It can be pointed out that the government, customers, manageme nt and employees are all parts of corporate governance. The interact with each other and impact the strategies of the organisations to ensure that its operations benefit them. The government did not create the strict borrowing policies to measure the credibility of the borrowers. The borrowers borrowed money from the banks and could return it back which eroded the liquidity of the banks. Thus, the lack of corporate governance from the side of these stakeholders resulted in erosion of liquidity and risk management. Thus, in other words corporate governance is essential to maintain economic stability and keep the financial crises away (Claessens Yurtoglu, 2013). Risk management models ensure that organisations are able to take and manage risks to earn more profit. The risk management and assessment is done by the top executives drawing strength from market information and organisational structures. The organisations like banks create their own business and risk management models. The management uses various methods to gain measure risk and ensure that the assessment is accurate and feasible. Governance risk management is the tool to examine the strategic strengths of organisations and to make sure that they take risks as per their capabilities. Risk management refers to procedures which the management uses to analyse the business risks and the power of the organisations to diversify them. Risk management frameworks of organisations decide their risk taking propensity and comply to all the legal policies and laws while taking those risks. Today the risk management framework of the organisations is backed by advanced technology and enterprise risk management (DeAngelo Stulz, 2015). The risk management and non-regulatory framework today consists of control of risk management of the organisations by the financial institutions and government bodies. The non regulatory framework tends to guide the risky investments of organisations in order to ensure that they are not hit by the risks. The financial crises in the United States show that the knowledge of the borrowers about their debt paying capability could have acted as a non regulatory check against the crisis. The risk assessment framework of the banks could have acted as non regulatory framework to ensure that the borrowers have the power to pay the debts. Both these non regulatory framework did not contribute towards ensure corporate governance of the banks which actually complemented the weak regulatory framework of the government. The failure of the two catapulted into an economic crash, erosion of global market capital and risk management by the economies (Elbahar, El-Masry Abdelfattah, 2016). The financial crisis made the governments and the corporate sector realise the need of governance, compliance and risk management. The organisations manage risks by entering into business relationship with firms specialised at taking risks. These risk vendors, as these firms are called adopt various models of solution for risk management like Integrated GRC Solution. Domain, Specific GRC Solutions and Point solution to GRC. These risk vendors model data warehouses designed according to the needs of the companies so that the management can take appropriate decision on risk management. The organisations today take help of data warehouses which provide them with large bodies of data to assess the business risks and make accurate strategies to manage risks (McNeil, Frey Embrechts, 2015). ISO 31000 is a component of the risk management standard framed by International Organisation of Standard. Today organisations function under complex environment which presents before lot of risks. Risk management help organisations manage risks and use their resources to use efficiently in managing risks. The risk management also includes risks the operations of organisations pose to the society and to the stakeholders. The organisation provides for risk management in various forms which can be applied in companies of varying sizes and scales of operations. ISO 31000:2009 provides directions in general for design, application and maintenance of risk management mechanisms by organisations. The ISO 31000:2009 provide a wide range of risk management mechanisms for the organisations which require enterprise risk management. The parameter covers all strategies, management or tasks of operation spanning all functions, processes and projects. The ISO 31000:009 encompass appointing stakeholders, risk management officers, compliance auditors within the companies and independent analysts (Curkovic, Scannell Wagner, 2013). The ISO 31000:2009 plays very important role to ensure organisations are able to manage risks in such ways to profit from them. This parameter allows the organisations to employ workforce to assess the risks, the consequences and benefits that can be likely derived by taking the risks. The organisations can analyse their own risk taking capability based on their financial strengths, supply chain, market penetration and so on (Riel et al., 2015). The next important role of ISO 31000:2009 then studies the risks and the associated benefits. If the risk management team finds that the risk would benefit the company in a great way like increasing the market position of the organisation or entering a new industry, it may help the company to increase the risk, if required in order to increase the benefit. The parameter also has provisions of removing risks or changing the likelihood of the risk. This helps the companies to avoid risks which are likely to result in huge financial losses or have dire consequences on the firm. The next important role played by ISO 31000:2009 also has provisions for sharing the risks with other companies or parties. They involve entering into contracts with firms and companies which have expertise in financing risky projects. They even have provisions for the management of the companies to retain the risky position if they consider those positions as a part of their business strategies (Dallas Director , 2013). The ISO 31000:2009 provides standard of risk management which can be followed by organisations irrespective of their sizes, locations, activity or sectors. The risk management parameters are even more applicable in todays world in order to maintain resilience in the global economy. The financial crisis of 2007-2008 which hit the United States showed how economic problem of one part of the world can create a chain of events capable of disrupting the entire global economy. The advancement of technology, intense global competition, emergence of new markets and so on have made the economies more interdependent. Today the emerging markets like China and India interact more than with the developed markets like North America and Europe. These countries are home to several multinational companies who have considerable business assets in other economies and worth billions of dollars. The less developed markets are dependent on these countries and companies for their very sustenance. These com panies cater to a global consumer base and generate revenue for the governments of their home as well as host countries (Baylis, Smith, Owens, 2013). Thus, a bankruptcy in any of these companies can create chain of events which can hit the entire global economies. The companies are increasing stressing on functioning in sustainable environment. A parameter like ISO 31000:2009 can help companies to assess and manage risks better which will help them to avert unprofitable risks. They can also save their material, human and financial resources which would have been employed to deal with the risk. Thus, such parameter can contribute making the global environment more favourable to investment by managing risks (Bremmer, 2014). Sustenance has emerged as a new way of operating in the global economy where companies work towards adopting environment friendly ways. The companies require to invest huge amount of money towards adopting sustainable technology which involves considerable risks. ISO 31000:2009 acts as parameters which help companies to assess the limit of risks to be taken to adopt sustainable means of operations. The companies are considered as social identities which should function in sustainable means to ensure conservation of environment. Thus, such parameters go a long way in applying sustainable ways by assessing the risk associated with them (Fletcher Bianchi, 2014). Risk management has emerged as a very large area spanning over all the economies. Risk management has become important due to interdependence between countries and companies. Globalisation and advanced technology have brought nations so close that a wrong risk assessment in one part and sector can affect the whole world. The financial crises show the need of government and institutional participation to ensure risk management and smooth function of all organisation even multinational banks. The governments, customers and all the other stakeholders need to examine the risks associated with investments before transforming them into action. It requires responsible corporate governance and conduct from all the stakeholders. The risk management parameters of ISO 31000:2009 help organisations to assess risks and avoid a recurrence of financial crisis 2007-2008. References: Acharya, V. V., Gottschalg, O. F., Hahn, M., Kehoe, C. (2013). Corporate governance and value creation: Evidence from private equity.Review of Financial Studies,26(2), 368-402. Baylis, J., Smith, S., Owens, P. (2013).The globalization of world politics: an introduction to international relations. Oxford University Press. Bekaert, G., Ehrmann, M., Fratzscher, M., Mehl, A. (2014). The global crisis and equity market contagion.The Journal of Finance,69(6), 2597-2649. Bremmer, I. (2014). The new rules of globalization.Harvard Business Review,92(1), 103-107. Carroll, A., Buchholtz, A. (2014).Business and society: Ethics, sustainability, and stakeholder management. Nelson Education. Claessens, S., Ratnovski, L. (2015). What is shadow banking?. Claessens, S., Yurtoglu, B. B. (2013). Corporate governance in emerging markets: A survey.Emerging markets review,15, 1-33. Correa, R., Goldberg, L. S., Rice, T. (2014).Liquidity risk and US bank lending at home and abroad(No. w20285). National Bureau of Economic Research. Curkovic, S., Scannell, T., Wagner, B. (2013). ISO 31000: 2009 Enterprise and Supply Chain Risk Management: A Longitudinal Study.American Journal of Industrial and Business Management,3(07), 614. Dallas, M., Director, A. P. M. (2013). Management of Risk: Guidance for Practitioners and the international standard on risk management, ISO 31000: 2009.The Stationary Office. DeAngelo, H., Stulz, R. M. (2015). Liquid-claim production, risk management, and bank capital structure: Why high leverage is optimal for banks.Journal of Financial Economics,116(2), 219-236. Diebold, F. X., Y?lmaz, K. (2014). On the network topology of variance decompositions: Measuring the connectedness of financial firms.Journal of Econometrics,182(1), 119-134. Elbahar, E., El-Masry, A. A., Abdelfattah, T. (2016). Corporate governance and risk management in GCC Banks. Fletcher, W. J., Bianchi, G. (2014). The FAOEAF toolbox: making the ecosystem approach accessible to all fisheries.Ocean Coastal Management,90, 20-26. Grubel, H. G. (2014). A theory of multinational banking.PSL Quarterly Review,30(123). Helleiner, E. (2014).The status quo crisis: Global financial governance after the 2008 meltdown. Oxford University Press. Jarrow, R. A., Chatterjea, A. (2013).An introduction to derivative securities, financial markets, and risk management. WW Norton Company. Kapan, T., Minoiu, C. (2016). Balance sheet strength and bank lending during the global financial crisis. McNeil, A. J., Frey, R., Embrechts, P. (2015).Quantitative risk management: Concepts, techniques and tools. Princeton university press. Mensah, J. M. K. (2015). The failure of Lehman Brothers: causes, preventive measures and recommendations.Browser Download This Paper. Rajan, R. G., Zingales, L. (2015). The Economic Functions of Derivatives Markets.The Economics of Derivatives, 22. Reinhart, C. (2013). Goodbye inflation targeting, hello fear of floating? Latin America after the global financial crisis. Riel, A., Lelah, A., Mandil, G., Rio, M., Tichkiewitch, S., Zhang, F., Zwolinski, P. (2015). An Innovative Approach to Teaching Sustainable Design and Management.Procedia CIRP,36, 29-34. Vazquez, F., Federico, P. (2015). Bank funding structures and risk: Evidence from the global financial crisis.Journal of Banking Finance,61, 1-14.

Renaissance Music Essay Example For Students

Renaissance Music Essay The Renaissance was a period by which modern scholars consider as that between 1350 ?1600. Abundant in this new age was inventions and individualistic beliefs. Changes in music and cultural behavior were some of the most evident development from its predecessor of the Middle ages. Period of new inventions, belief, musical styles of freedom, and individuality. It was a period of exploration and adventure from 1492-1519, which saw the likes of Christopher Columbus, Vasco da Gama, and Ferdinand Magellan. This was a drastic difference from the Middle Ages where the church held most of the power. The power was slowly transferring to the artist, musician, and people of high society. The word ? Renaissance? means rebirth. Used by artist and musician to recover and apply the ancient learning and standards of Greece and Rome. Rich Italian cities, such as Florence, Ferrari, and milanland Venice started the Renaissance Age. Because these cities were very wealthy, people started spending money on different things, such as painting, learning materials, and new systems of government. These were good times for most and because of the ever-changing styles and attitudes towards culture and the church, music was the best buy for the money. This all gave rise to a new type of sc holar, called the humanist. Humanism was a subject concerned with human kind and the culture. Painters and sculptors now used subjects from classical literature and mythology such as characters from Homers epic poems. Painters like Raphael and Leonardo da Vinci were more interested in realism and used linear perspective in creating their subjects. The nude body was a favorite theme of the ages where as in the Middle Ages was an object of shame and concealment.Artist was no longer regarded as mere artisans, as they were known in the past, but for the first time emerged as independent thinkers. The Catholic Church was far less powerful now than they had been in the Middle ages. The church no longer monopolized learning or the minds of the common worshiper.Aristocrats and the upper middle class now considered education a status symbol and music was an intricate part of that status quote. The invention of print accelerated the spread of learning. Johan Gutenberg was credited with printing the first Bible during this period, which gave this excellent piece of literature a wider audience. The printing press made books much easier to come by which made them cheaper. Now common people could afford a literary luxury, which was once only accessible to the rich. Therefore, literacy became more widespread since common people had access to all forms of print to include music. With the Renaissance was the idea of the universal man, every educated person was expected to be trained in music. As in the Middle Ages, the musicians worked in churches, courts and towns. The church remained an important patron of music, but musical activity gradually shifted to the courtyards. Kings princes and dukes competed for the finest composers. With this, new found fame musicians enjoyed higher status and pay than ever before. Composers were regarded higher and held important positions throughout Europe. Many musicians became interested in politics in hopes that their status as a musician or composer would help to foster ones careers. This was a sharp contrast from most of the Renaissance composers and musicians. Most were from the Low Countries and from families that were not of prominate nobility. In the renaissance, as in the Middle Ages vocal music was more important than instrumental music. The humanistic interest in language influenced vocal music in a new way. As a result, an especially close relationship was created between words and music. Composers often used word painting, musical representation of specific poetic images. Renaissance music sounds were more full than medieval music and had a more pleasing affect to the ear. New emphasis was put on the bass line for a richer harmony. Choruses music did not need instrumental accompaniment. The period was called the gold age of unaccompanied a Cappella choral music. This is where the present day barber shops quartet originated. This new technique made renaissance music both a pleasure and challenge, for each singer had to maintain an individual rhythm. This must have been an innovation and refreshing change from the old monotone chanting choruses. .u589f655d530b91a5dd09c46790cfb80a , .u589f655d530b91a5dd09c46790cfb80a .postImageUrl , .u589f655d530b91a5dd09c46790cfb80a .centered-text-area { min-height: 80px; position: relative; } .u589f655d530b91a5dd09c46790cfb80a , .u589f655d530b91a5dd09c46790cfb80a:hover , .u589f655d530b91a5dd09c46790cfb80a:visited , .u589f655d530b91a5dd09c46790cfb80a:active { border:0!important; } .u589f655d530b91a5dd09c46790cfb80a .clearfix:after { content: ""; display: table; clear: both; } .u589f655d530b91a5dd09c46790cfb80a { 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; } .u589f655d530b91a5dd09c46790cfb80a:active , .u589f655d530b91a5dd09c46790cfb80a:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u589f655d530b91a5dd09c46790cfb80a .centered-text-area { width: 100%; position: relative ; } .u589f655d530b91a5dd09c46790cfb80a .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u589f655d530b91a5dd09c46790cfb80a .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u589f655d530b91a5dd09c46790cfb80a .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; } .u589f655d530b91a5dd09c46790cfb80a:hover .ctaButton { background-color: #34495E!important; } .u589f655d530b91a5dd09c46790cfb80a .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u589f655d530b91a5dd09c46790cfb80a .u589f655d530b91a5dd09c46790cfb80a-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u589f655d530b91a5dd09c46790cfb80a:after { content: ""; display: block; clear: both; } READ: Holiday On Mackinaw Island Argumentative EssayA new style of relating to the counterpoint was now spawning, in which bass voices were given greater independence. This took the average Mass to a different level of complexity and meaning. It created two forms of sacred music of the renaissance, which were the Motet and the Mass. The Motet was a polyphonic choral composition made up of five sections: Kyrie, Gloria, Credo, Sanctus and Agnus. Josquin Desprez was a master of renaissance music. His compositions, which strongly influenced other, and were enthusiastically, welcomed by music lovers. Among the most important renaissance composers was Giovanni Pierluigi da Palestrine, who devoted himself to music for the catholic church. During the early 1500s, Protestants who sought to correct abuses within the structure that occurred in the past challenged the church. This led to the founding of the Jesuit order in 1540, which considered questions of organization with in the church. They discussed church music, which they felt lost its purity and wholesomeness that was essential to a place of worship. Church music was attacked because it used tunes, noisy instruments, and theatrical singing portraying the church as being just a place for entertainment. The council finally decreed that church music should be composed not to give empty pleasure to the ear, but to inspire religious contemplation. Palestrinas pope Marcellus Mass was long thought to have convinced the council that masses should be kept in catholic worship. Although it is now known that it did not play a role in the c ouncil decision, it does reflect the councils desire for a clear projection of the sacred text. During the renaissance secular vocal music became increasingly popular. This was music written for groups of solo voices with the accompaniment of instruments. Composers delighted in imitating natural sounds such as birds or animals that were more serene. Madrigal was an important vocal music, which had a piece for secular solo voices set to short poems. Madrigal originated in Italy around 1520 and was published by the thousands in sixteenth century Italy. Among many Italian madrigalists were Luca marenzio and Carlo Gesualdo the prince of veno who had his wife and her lover murdered after finding them in bed together. In 1588 the year of the defeat of the Spanish armada, a volume of Italian madrigals was published in London. This triggered a spurt of madrigal writing by English composers, and for about thirty years, there was a steady flow of English madrigals and other secular vocal music. Traditionally instrumentalist accompanied voices or played music intended for singing. During the sixteenth century however instrumental music became increasingly emancipated from vocal models. Renaissance musicians distinguished between loud outdoor instruments like trumpets and the shawm, which was a double reeded ancestor of the oboe, and soft indoor instruments like the lute and the recorder (an early flute). Large courts might employ thirty instrumentalists of all types. On state occasions such as Royal wedding, woodwinds, plucked bowed strings, and keyboard, instruments all playing would entertain quest together. In conclusion, the renaissance gave way to a new generation of music, musicians and composers. During the Renaissance, music were no longer regarded as mere skilled craftsman, as they had been in the medieval past, but for the first time emerged as independent personalities. The Renaissance was a time of new awakening in Europe. Bibliography:Work CitedPerry, Marvin, Chase Myrna, Jacob James R, Jacob Margaret C, Von Laue Theodore H.Western Civilization. New Jersey, Princeton, 1996Kamien, RogerMusic, an appreciation, Boston, 1998Mc Comb, Todd M.A Selection of Renaissance Music, Internet, www.medieval.org,

Sample Reflective Essay on Internship

Sample Reflective Essay on InternshipA sample reflective essay on internship is one of the most beneficial exercises to help students in preparing for the GRE (Graduate Record Examination). The sample reflects key areas of reflection, and is a great way to start if you are just starting your preparation. I consider this the best sample reflective essay on the subject. The author has been writing for decades, and produces clear and well-researched writing.This is a grim reality. This is why student essays and GRE are usually such an expensive undertaking. Preparation before taking the test has long been one of the most cost-effective ways to improve a student's score.So, as a high school student, my first question was: What does this writer have to say about the topic? I mean, isn't he or she part of the field, writing about it? As a fellow writer and researcher, I would be familiar with the challenges involved with reflective essay topics. This wasn't so.Just what is this writer's pe rspective? Is this writer a senior academic researcher who has studied the realities of working in academia?This writer seems to have some experience as a teacher or administrator, or both, so it would be safe to assume this is a senior administrative staff member or professor. As someone who has worked in this field, I can attest that you must come from a very different angle to write a reflective essay on internship than a researcher does.However, the writer's title, 'creative writer' suggests to me that he or she is a sort of genius. In other words, they may not have a background in literary studies, but it's a bold title nonetheless. Why do I feel the need to look into this? Well, my research shows that creative writing teachers typically teach methods of criticism and the craft of writing.In short, they would be trained to expose students' ideas to scrutiny and critique. In other words, they might talk about how to make a strong argument for your position or give some insight i nto developing your narrative style. These are all techniques you should study if you want to succeed at an essay or GRE exam.As a teacher, you would have honed analytical skills in order to see the bigger picture. By having published on this topic, this writer would surely be of use to any aspiring academic or faculty member in this field. Using a sample reflective essay on internship as an aid is a great way to prepare for an examination.

Blue Neighbourhood by Troye Sivan free essay sample

Troye Sivan debuts his first full-length album, after already accumulating a hefty following on YouTube. There’s a reason artists keep coming back to colorsevery kind of artist. Blue, â€Å"the most human color† according to Regina Spektor, has all the human layers of complexity, representing sadness (the sad little blue emotion in Inside Out), and the norm (saying something came â€Å"out of the blue† is like saying something is an outlier to the mainstream, the everyday). Troye Sivan’s debut is like a painter’s palette, with every shade of blue laid bare. And we spend our time in the Neighbourhood indeed: the opening track of â€Å"Wild† is ecstatic, the anthem of a lucky hometown, while children’s choirs provide riff raff in the background. Sivan’s music feels personable, like his all-consuming loves could happen next door. It’s atmospheric, rich, best swallowed in one sitting. Sivan has a cinematic sadness that captures dreamy youth. We will write a custom essay sample on Blue Neighbourhood by Troye Sivan or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page â€Å"Bite† is filled with tension, and all the feelings of vertigo when falling in love. Sivan communicates the vulnerability of placing your heart in another’s hand, and that feeling is reflected in â€Å"Fools,† a maxed-out celebration of sound with neon, rugged instrumentals, as Sivan struggles to resist bad boys who live on the street. â€Å"Heaven,† one of my favorites featuring Betty Who, really does feel like heaven, reaching, cloudy, climbing; Who’s voice, slender and tentative, is mesmerizing against Sivan’s. And â€Å"Suburbia† brings everything back to the things that makes a house a home, like Mama’s good eats and the history on these streets. The final track on the deluxe version, â€Å"Wild,† features Alessia Cara, bringing together pop’s brightest emerging voices together. Cara’s voice is beautifully rich, in a totally different way. Every song is part of this awning, reaching sound, out of which Sivan’s voice weaves in and out like a stream of consciousness. And while every song is some color blueif the color was a soundeach song is its own unique jewel, that creates a complete portrait of lovestruck, lustful youth. Sivan embraces a sensual, sensitive sound, even when it feels like young male artists are pressured to distance themselves as much as possible from femininity, as if it were degrading. The result is a fearless beauty. Sivan’s voice is so lush, so carefully sculpted that he can narrate anything. Emotions run high, over synths whose production value runs at the same level. Sivan’s sense of self is what makes the album work, like a collage of pastels, or a vividly gorgeous walk down memory lane. Looking toward the future, whatever he does next, it’s going to be magnificent. Looking back, we’ll miss this blue neighborhood.

Thomas Paines Common Sense essays

Thomas Paine's Common Sense essays The outspoken Thomas Paine was born on January 29, 1737. He was a corset maker, an exciseman, and a schoolteacher. He printed many pamphlets during his lifetime including his most popular pamphlet Common Sense. Paine was unhappy with the way Britain was treating America before, during, and after the Civil War. In Common Sense, Thomas Paine argues that America should be independent from Britain for social, political, and economic reasons. For social reasons, Paine argues that the colonists will continue to be mistreated if they continue to be connected with Britain. He states that the colonies only relate to each other through Britain, this creates enemies with France and Spain. If America were not connected to Britain, the people of Spain and France would have helped America fight against Britain. The colonists left Britain because of the government, and that same government rules them while they lived in America. Not even one third of the inhabitants of America were English, therefore America should not be under British rule. Britain should not have been called the parent or mother country because it was false, selfish, narrow, and ungenerous. Dependence on Britain leads America into European wars and quarrels and set variance with nations who would otherwise seek Americas friendship. America should be employed, but it cannot be while under British rule and it causes America misfortune. Paine has many political reasons for America to disconnect itself from Britain. He believes that Britain does not protect America from Americas enemies, but protects Britain from their own enemies on their own accounts, in order to gain more money. He says how inconvenient it is to be ruled by a power that is so far from America. For example, they have to wait months to a response from Britain, and then months more for an explanation from Britain. Paine thinks that Britain is ignorant to America, and if Britain cannot ...

Discuss the extent to which corporate social responsibility has Essay

Discuss the extent to which corporate social responsibility has improved public perception of Tobacco companies in the uk - Essay Example Corporate social responsibility however becomes one of the key areas to look for by the tobacco companies. (WHO, 2004.) It has been however, suggested that the overall perception of the consumers regarding the tobacco companies as a result of their corporate social responsibility initiatives has not been so encouraging. (Anderson, 2011). It is generally believed that the tobacco companies use the corporate social responsibility as a tool to gain access to the politicians in UK and therefore all their efforts for corporate social responsibility are basically aimed at gaining access to the people who are in power. This may be due to the fact that the very business structure of the tobacco companies can serve as an obstacle to achieve the objective of corporate social responsibility. (Simpson & Sue, 2003.) The above graph suggests the prevalence of cigarette smoking by smoking and socio-economic groups from 1992 to 2009. The above graph suggests that there is a greater reduction in the smoking of cigarettes according to the social class of the individuals. This reduction in the smoking incidences therefore suggest that the consumers may not be having clearly favorable perceptions about the tobbaco companies and they are relativley relinquishing their smoking habits in order to avoid the danagers posed by the smoking. The above graph also however, suggests that the incidence in those people who are performing manual work has relatively remained stable owing to the early start of smoking by people belonging to this social class. It also therefore suggests that the corporate social responsibility practices of the tobbaco companies tend to have greater influence on the people who are relatively low in terms of their social class and statuts. Tobbaco companies have not been successful in fully utilizing the corproate social responsibility because of the very nature of

Richard Branson Research Paper Example | Topics and Well Written Essays - 2000 words

Richard Branson - Research Paper Example to reduce risk in their business choices. There are also leaders who do not follow existing leadership practices; rather, they develop their own leadership style avoiding to be influenced by the traditional perceptions on leader’s role. Such case is Richard Branson, the founder and Chairman of Virgin Group. Since the establishment of his first enterprise, the Virgin Records in 1972, Richard Branson has been made popular for his style of leadership, which is considered to be unique. The aspects of the leadership style of Richard Branson are analyzed below. It is made clear that the success of Virgin Group is not related only to the carefully planned strategies on which its activities are based but mainly to the leadership style of Richard Branson. The management practices of Richard Branson have become a valuable example for leaders worldwide; in fact, it is primarily the entrance of Richard Branson in the business sector that has proved his capabilities and skills as a charism atic leader. In his first involvement in business activities, Richard Branson did not show signs of a strong willingness for success; maybe it was exactly this fact that led to his differentiation from other entrepreneurs worldwide who focus only on the profit. Even now, Richard Branson supports that there are many values and interests in life and the achievement of profits should not be a priority (Dearlove 2010). The entrance of Richard Branson in the business sector can be identified in 1971 – when the first Virgin Record store was established in order to respond to the relevant needs of students (Murray, Poole and Jones 167) – before this initiative Richard Branson has been involved in the publication of ‘a magazine for students’ (Murray, Poole and Jones 167). Because at that period the trends of the market regarding the buying of records were rather negative, Richard Branson introduced certain strategies aiming to attract the attention of young people ; free coffee and extremely friendly environment were the two main parts of Branson’s strategy in order to attract customers (Murray, Poole and Jones 167). The above strategies had positive results; indeed, the company managed to achieve an important growth proving Branson’s capabilities to establish a successful enterprise in a market sector, which was underdeveloped. One of the most important characteristics of Richard Branson as a leader is his ability to handle crises. This fact was revealed in the crash of one of the firm’s highspeed trains in Northern England, in 2007 (Reuters, February 24, 2007). The investigation developed by the local authorities revealed that Virgin could not be held responsible for the crash since the accident was caused because of a faulty track (Reuters, 2007). During the period that the case was under examination, Richard Branson had to face a strong criticism regarding the measures taken for the safety of Virgin trains. This issue is analyzed in the study of Regester & Larkin (2008); reference is made to the exceptional ability of Richard Branson to cover all issues highlighted by the journalists; in fact, the day of the crash Richard Branson was in holidays and he returned immediately in order to check the situation closely. The media welcomed the specific initiative noting that ‘even the chief executives avoid being involved personally in cases of crises’