Personal Brief Olivia Aukafolau Essay - 1942 Words

Personal Brief Olivia Aukafolau was born in central Auckland, New Zealand, where she has grown up in a suburban and heavily populated cultural environment. With her love of language, in 2013, at the age of 17 she participated in a student exchange to Germany for a year. She was situated in Herford, a small town of around 65,000 people, in the north of Germany. Well in Herford, Aukafolau attended the local German speaking high school where she completed year 12. Once her year in Germany was up, she then returned to New Zealand and now at the age of 19 attends Auckland University of Technology, studying Communication Design. Aukafolau was brought up with Christian values. Her mother is English and her father Tongan. She grew up in a relaxed environment where her parents were both open and encouraging for her to explore new experiences. Introduction Intercultural communication happens when people from different cultures communicate and interact with one another (Koester Lustig, 2015). Due to their cultural differences, it has an effect on the communication event they are taking part in (Jackson, 2014). It is important to understand intercultural communication, as it allows one to be able to, as Jackson (2014) describes, â€Å"adapt and thrive in unfamiliar environments, and contribute to our planet in a constructive, peaceful manner† (p. 46). In the multicultural society of today, by learning more about this form of communication, we are able to gain a deeper understanding

Essay about Fannie Mae Case - 1377 Words

Fannie Mae case. Federal regulators noted a growing string of high profile scandals at major U.S. corporations in recent years. The number of fraud cases investigated by the Securities and Exchange Commission jumped 41 percent in the last three years (112 cases in 2001 compare to 79 cases investigated in 1998), resulting in tens of millions of dollars in fines to settle the charges. I have decided to take a closer look at Fannie May. This company operates in the residential mortgage finance industry. It facilitates the flow of mortgage capital to increase the availability of homeownership for low, moderate, and middle-income Americans. Its lender customers are part of the primary mortgage market, where mortgages are originated and†¦show more content†¦The effects on Fannie Mae, a highly politically connected company, could be enormous. The company holds over $1 trillion in assets, and purchases more mortgage loans than any other lender in the U.S. When the accounting errors first emerged Fannie Mae estimated that there would be an adjustment of about $9 billion in its reported earnings over the contested period. That number has since increased to over $11 billion but may increase again as further irregularities discovered with insurance related issues. No estimate of these additional potential revisions is currently available. On December 21, 2004, Franklin D. Raines stepped down as Chairman and Chief Executive Officer and J. Timothy Howard resigned as Chief Financial Officer. Raines departure, at age 55, was structured as an early retirement. Under his employment agreement and the terms of the Executive Pension Plan, Raines is entitled to receive 60 percent of his High-Three Total Compensation, which is his highest total compensation for three consecutive years during the last 10 years. Upon early retirement, this number is slightly reduced leaving him with estimated annual benefits of $1,085,462. Furthermore, the companys Stock Compensation Plan of 1993 allows all options to become immediately exercisable and fully vested upon early retirement. The 2003Show MoreRelatedAn Asset Price Bubble1286 Words   |  6 Pagesadvantage of the situation for benefiting in short run. 1.3 Fannie Mae and Freddie Mac Wallison and Pinto (2009) claimed that Fannie Mae and Freddie Mac have to take the responsibility for the lack of quality of mortgage (blemished credit, low or no down payments, negative amortization and the lack of documentation of income) that leads to the growth of the housing bubble. In 9 years (1994-2003), purchases of mortgages from Fannie and Freddie as a percentage of all mortgage originations increasedRead MoreKey Factors Affecting The Foreclosure Crisis1286 Words   |  6 Pagesprotected because of the credit default swap. The real estate market boomed beyond anything anyone had ever seen. And it fed itself; the more the market boomed, the more people wanted to buy homes and the more investors were willing to lend. A case in point: to remain relevant, FHA altered its own rules. FHA loans have always required a down payment and prohibited the seller from making that down payment on behalf of the buyer. But FHA altered their own rule by allowing the seller to make aRead MoreHow Do House Of Cards Because Caused The Crash?1354 Words   |  6 Pagesas a money bank, and not thinking twice of the equity they were loosing in the process, because they thought that the value would only go up, while their mortgages would decrease, and were blinded by the so called â€Å"American Dream†. Fannie Mae and Freddie Mac Fannie Mae and Freddie Mac, started in 1992, was a company started to subsidize LMI housing without appropriating any funds. In 1997, an urban report claimed that local lenders seemed more than happy to serve creditworthy low, moderate incomeRead MoreThe Crisis Of 2008 : Is It All The Feds Fault?1677 Words   |  7 Pagesin people having loan amounts that vastly exceeded the true value of their homes. Fannie Mae and Freddie Mac Fannie Mae and Freddie Mac, started in 1992, was a company started to subsidize LMI housing without appropriating any funds. After an urban report in 1997 found that local lenders seemed more than willing to serve creditworthy low to moderate income and minority applicants. Upon that alligation in 1997, Fannie and Freddie modified their systems, which led the way for vaste numbers of sub-primeRead MoreThe Subprime Mortgage Crisis Of 20081305 Words   |  6 Pages For many this was seen as a blessing; however, it would come with a cost. Under these new conditions, due to their â€Å"below average† credit rating, potential homeowners would now be labeled subprime and subjected to higher interest rates. In some cases, subprime borrowers also received adjustable mortgage rates, which during initial years worked in their favor because interest rates remained low. As years progressed and interest rates increased, homeowners would now face higher mortgage paymentsRead MoreThe Burst Of The Housing Bubble2886 Words   |  12 Pagesselling them to outside investors by guaranteeing the repayment of the principal and interest (Griffith, 2012). Fannie Mae and Freddie Mac are government-sponsored enterprises charged with providing liquidity to America’s mortgage finance system (Griffith, 2012). When issuing mortgages, the brokers knew that in the case of a default the loans were backed by securitization. Originally, Fannie Mae and Freddie Mac did mortgage pooling since they used stringent standards to ensure rep ayment to the investorsRead MoreThe Looming Of A Miracle Worker Essay1251 Words   |  6 PagesDevelopment (HUD) become a regulator over Fannie Mae and Freddie Mac, according to HUD’s history. As a regulator HUD could set desired goals for the two government sponsored enterprises (GSEs) to service low-income families, creating what they saw as a good intention. From there, it is questionable the decision to purposely make a sale on what is a subprime mortgage, this sense of ignorance was merely the first along the way. What developed from this was that now both Fannie and Freddie had to meant goals whereRead MoreHistory Is The Most Important Subject Of Education Essay2004 Words   |  9 Pageshave been as general as the flaws and shortcomings of human beings and as specific as the effects of Federal Reserve System policy on interest rates or a change in mortgage loan eligibility standards by the Federal National Mortgage Association (‘Fannie Mae’) or the Federa l Home loan Mortgage Corporation (‘Freddie Mac’). The housing market is greatly affected by interest rates and credit eligibility rules, but there is much more to the story than that.† The market was booming in the early 2000s.Read MoreEssay on Countrywide Financial Home Loans Failure1300 Words   |  6 Pageslobbyists in the House of Representatives to refrain the committee from passing a legislation pertaining to new sub-prime lending rules, which would have been unfavorable for the company. Even the legislation passed to initiate reform measures at Fannie Mae and Freddie Mac were influenced by Countrywides lobbyists (Zacks, 2012). Past of unethical practices investigated by SEC was the executive compensation for David Sambol and Angelo Mazilo. All the ethical misconduct and high-risk business practicesRead MoreThe Cornerstone Of The American Dream2183 Words   |  9 Pagessetbacks such as unemployment, divorce, medical emergencies, etc.(cite report) Essentially, those who acquire subprime loans are at a much higher risk of default due to the aforementioned setbacks reducing their ability to meet monthly payments. In the case of the housing market collapse, many subprime mortgage loans used a financial instrument called an adjustable-rate mortgage (ARM) meaning that the interest rate on the promissory note is not fixed, rather it is periodically adjusted to reflect the

Fables Free Essays

Common type of story is the fable, which presents a moral, or lesson about human behavior. Fables usually feature animals behaving and speaking as humans. Among the most widely known are those from the ancient Sanskrit Pancatantra (Five Chapters), which was first written down in India perhaps 2,000 years ago. We will write a custom essay sample on Fables or any similar topic only for you Order Now Known in Europe as The Fables of Bidpai, this collection presents animal characters in entertaining stories and poetry. Many European animal fables have at least in part descended from the Pancatantra. Among the most renowned Western fables are those attributed to Aesop, a (probably fictitious) slave from ancient Greece. One of the best-known of Aesop’s stories is â€Å"The Ant and the Grasshopper,† which teaches the need to be industrious and save for the future during times of plenty. Stories that point out lessons are called fables. Nearly everyone knows the fable about the three little pigs. They leave home and go out into the world to make their fortunes. Of course, they have to build places in which to live. The first little pig makes his house of straw. The second little pig also takes things easily, building his house of sticks. The third little pig works hard and long to make a house of bricks—a good, sturdy house. Along comes a wolf who blows down the houses of straw and sticks and eats the two lazy little pigs. All his huffing and puffing, however, cannot blow down the house of bricks. In this fable the three little pigs show human characteristics. Two little pigs are shiftless and meet an unhappy end through their own fault. The hard-working little pig earns the reward of a good life. History of fables In very early times people told stories in which animals talk. By their actions the animals show how foolish or wise people can be. Folklore scholars think that fables probably originated among the Semitic peoples of the Middle East. The tales spread to India and then west to Greece. Many fables go back to an ancient Sanskrit collection from India called ‘Pancatantra’ (Five Chapters). These stories were told and retold through many generations. Eventually they reached Greece. The Greeks added detail and action and made Aesop master of all the fables. The Romans translated Aesop’s fables into Latin. They were translated into French in the 13th century. The first of many versions of the folktale of â€Å"Reynard the Fox† appeared in about the 12th century. Fables of Aesop’s The greatest teller of fables was Aesop (see Aesop). He was believed to be a slave in ancient Greece. His stories are simple moral lessons illustrated usually by the actions and speech of animals. Some of his best-known fables are â€Å"The Lion and the Mouse,† â€Å"The Fox and the Stork,† â€Å"The Hare and the Tortoise,† â€Å"The Wolf in Sheep’s Clothing,† â€Å"The Fox and the Grapes,† â€Å"The Frogs Desiring a King,† and â€Å"The Shepherd Boy and the Wolf. † In Aesop’s â€Å"The Lion and the Mouse† the great, strong lion is tired of hunting. He lies down to sleep under a shady tree. A mouse runs over his face and awakens him. The angry lion is about to crush the tiny mouse with his huge paw, but the mouse begs so hard to live that the lion lets him go. Some time later the lion is caught in a hunter’s trap. He roars with surprise and fury. The little mouse recognizes the roar and races to the trap. He gnaws the ropes and sets the lion free. The powerful lion is grateful for the help that his tiny friend gave him. The king of beasts thinks to himself â€Å"Sometimes the weakest can help the strongest. † Aesop’s â€Å"The Fox and the Stork† shows that a tricky person does not always win. A fox invites a stork to dinner. The fox serves soup in a shallow dish. The poor stork can wet only the end of his long narrow bill in the soup. The sly fox makes false apologies and laps up all the food. The stork pretends to be satisfied and invites the fox to dinner. When the fox comes a few days later, he finds the food served in a tall jar with a narrow neck. Down in the jar goes the stork’s long bill. All the fox can do is lick his chops. This fable may have suggested the old proverb â€Å"he who laughs last laughs best. † Many proverbs and maxims are expressions of the wisdom found in fables. Some of these sayings and the fables from which they come are listed after the â€Å"History of Fables† section. Fables by La Fontaine Another great teller of fables was Jean de La Fontaine (see La Fontaine). He wrote in France in the 17th century. La Fontaine based many of his fables on those of Aesop. In the writings of both men are â€Å"The Fox and the Crow,† â€Å"The Dove and the Ant,† â€Å"The Fox and the Grapes,† â€Å"The Maid and the Pail of Milk,† and â€Å"The Fox and the Stork. † Some of La Fontaine’s titles vary slightly from Aesop’s. â€Å"The Fox and the Crow† tells that a fox sees a crow ith a piece of cheese in her beak settle in a tree. The fox wants the cheese. He looks up at the crow and says, â€Å"Good day, Mistress Crow. How well you look today! I feel sure that your voice must surpass that of other birds, just as your figure does. Let me hear you sing but one song so I may greet you as queen of the birds. † The crow begins to caw her best. As soon as she opens her mouth, the piece of cheese falls to the ground and is snapped up by the fox. â€Å"That will do,† he says. â€Å"That was all I wanted. In exchange for your cheese, I’ll give you a piece of advice for the future. Do not trust flatterers. Another of La Fontaine’s fables is â€Å"The Animals Sick of the Plague. † The lion, who is king of the beasts, asks all the animals to confess their sins. The guiltiest will be sacrificed to save the rest. The lion begins by confessing that he has â€Å"devoured an appalling number of sheep† and â€Å"the shepherd, too. † Reynard the Fox defends the king. His plea is applauded by the lion’s flatterers. Finally a poor donkey is sacrificed after he confesses that he has eaten grass on the monastery grounds. The moral of the tale is: â€Å"Thus do the courts acquit the strong and doom the weak as therefore wrong. † How to cite Fables, Papers

Project Planning for Procon Services Ltd †MyAssignmenthelp.com

Question: Discuss about the Project Planning for Procon Services Ltd. Answer: Case study overview: The Procon services ltd. is a consultancy organization. The project has been undertaken for managing the fit outs of the medium sized organization named as Vella IT office. The budget of completing the fit outs for the organization is about to be $ 1.2 M. From which $ 675 K has already been spent by the previous project manager. It has been estimated that from March to June project will be completed but because of the efficiency of the previous project manager the amount of work done till 1st may is ground floor is completed only 75%, Ist floor is near about 25% and same as with the 2nd floor, and the top floor is completed only 50%. In this paper, we are going to propose the effective project planning methodology for analysing the variance of cost and schedule associated with the project completion, and what leadership style should be adopted to motivate the employees to achieve the target of the enterprise. The focus should also be given on managing coordination and cooperation amo ng the team members of the organization. Summary: By analysing the time variance and cost variance, we find that the delay in project completion occurs with the payment of higher cost. By focusing on the previous scheduled time and actual completion of data we find that the project is delayed up to 32 day for completing all the activities of the project and deliver it to the stakeholder for use. It has been found that the rise in cost occur due to the delay of the project completion. It is near about 8000 Rupees. Time Variance Table: Activities Previous scheduled time (days) Actual completion time (Days) Variance (Days) Review of the Vella IT office 5 8 -3 Site work 15 14 1 Foundation activities 18 20 -2 Renovation of the ground floor 17 22 -5 Renovation of the first floor 20 30 -5 Renovation of the second floor 12 18 -5 Renovation of the top floor 5 10 -5 Furnishing 5 4 1 Plumbing 5 3 2 Electrical supply 5 3 2 Development of the telecom infrastructure 3 3 0 Exterior furnishing 2 2 0 Interior furnishing 4 3 1 Final acceptance 4 2 2 Total duration 120 days 152 days 32 days Cost Variance table: The following table shows the factors responsible for the occurrence of variance as expected cost schedule: Cost elements associated with the project completion Changes in the design Problems associated with the building structure Management of the activities is not proper Uncertain conditions Inflation in the rise and fall of the material cost Difficulties in relationship with supplier Planning and designing phase Major - Major - Minor - Problems associated with the building structure Minor Major Minor - Minor - Preparation of the site plan Minor - Minor Major Minor Minor Building and construction phase Major - Major Minor Major Major Use of equipment Major - Minor - Major Minor Management of team coordination Major Minor Major Major Major Minor Cost Variance table: Activities Previous scheduled Cost (Lakhs) Actual completion Cost (Lakhs) Variance (Lakhs) Review of the Vella IT office 80000 95000 -15000 Site work 10000 8000 2000 Foundation activities 20000 22000 -2000 Renovation of the ground floor 40000 48000 -8000 Renovation of the first floor 100000 123000 -23000 Renovation of the second floor 150000 144000 6000 Renovation of the third floor 120000 134000 -14000 Furnishing 200000 234000 -34000 Plumbing 20000 14000 6000 Electrical supply 50000 48000 2000 Development of the telecom infrastructure 50000 66000 -16000 Exterior furnishing 150000 123000 27000 Interior furnishing 200000 212000 -12000 Final acceptance 10000 9000 1000 Total Cost 1200000 1280000 -8000 Additional Information: The new project manager is looking forward for analysing the leadership style adopted by the previous manager and the inefficiency associated with it which results into failure of the project completion on time. He is seeking for the information which helps in motivating the employees to carry over the required work within the allocated time so that the project can be delivered to the stakeholder within the baseline. Leadership style: From the analysis of the case study, we concluded that the Tony Faultier who worked for the company as project manager had adopter the autocratic style of leadership in which he looks upon all the activities and takes decision accordingly (Luca, 2014). The incompleteness of the project helps in determining the inefficiency of the project manager in taking relevant decision. The autocratic behaviour of the project manager creates the problematic scenario for the working employees. The dictatorial representation of the leader creates a feeling of frustration in the working employees. The group members cannot present their ideas, likes, and dislikes associated with the decision (Xiong, 2012). They have to carry out the activities if the decision is given by the manager. The employees have to wait for green signal to carry out the activities and completed it with in time. This was the major cause for the project failure or incompleteness. The knowledge and experience of the group members is completely wasted. The leadership style of the Tony Faultier has to be changed with the democratic leadership style which involves the coordination of the team member for presenting a decision. The involvement of group discussion and suggestion forum brings the feeling of ownership in the participating employees. The decision comes into existence with the active participation of the employees and making majority for taking decision (Anantatmula, 2013). This leadership style helps in presenting new ideas, opinions, thoughts, and ideas for handling complex situation (Turner, 2014). The employees feel happy to remain attached with the decision making platform. The complex problem can be effectively solved with the help of providing quality suggestions and ideas. The team spirit and the feeling of cooperation can be effectively maintained in the working employees. The goals are created for the active participating units. The roles and responsibilities are provided with the acknowledgement of skills and tal ent in the working employees. The achievement of the team members should be motivated and appreciated (Muszynska, 2015). The changes in the working platform of the operation can be effectively managed with the involvement of high skilled employees in the organization. The decision making capabilities of the employees can be enhanced by creating the blanket of ideas and relevant information required for taking effective decision. The new opportunities should be provided to the working employees for increasing the satisfaction of the employee with their job. The team building and their coordination and cooperation helps in solving the issues which are responsible for the delay of the project. No extra cost is incurred on the consultancy hired for providing new ideas to complete the project on time. From the current scenario, we have analysed that the autocratic leadership style affects the moral values of the employees which results into the pitfall in the activities completion. It is recommended to use democratic style of leadership because it helps in providing the organization culture which depends on the pillars of honesty, coordination, trust, ethical behaviour, and loyalty. The active participation of the employees in the decision making scenario provides satisfaction to the decision for completing the work on time. The duties, roles, and responsibilities should be clearly defined to the employees according to their skills and talents. The value and consideration should be given on the views and thoughts of the subordinates. The strategies should be developed for the open communication in the working curriculum of the enterprise. It helps in generating new ideas which are valuable for solving the complex situation of completing the project on time (Rao, 2013). The mutual trust should be created between the employees and the project manager for encouraging cooperation in the process undertaken to innovate the fit out of the enterprise within the baseline. The flaws of the previous project manager can be resolved which helps in managing good communication between the employees. The ethical policies should be undertaken to take ethical decision for enhancing the working style of the enterprise. The cultural values of the working members should not be hurt which exist due to the diversification at work place (Slevin, 2007). The preference should be given on handling the chaos and conflict of the working employees. The proactive action should be taken to manage the risks associated with the development plan of fit outs for Vella IT office. Recommendation: The active participation of the employees helps in managing the blanket of new ideas which provides several alternatives for the completion of the project on time. The employees feel happy to remain attached with the decision making platform. The complex problem can be effectively solved with the help of providing quality suggestions and ideas. The expertise of the employees takes the project on track again for completing the project activities within the scheduled baseline. The fit outs of the Vella office can be completed within the new baseline created for the completion of the project with the deployment of following activities: Identifying the cause of delay in completing the project activities within the time limit. The autocratic leadership style of the manager has to be transformed with the democratic leadership style (Gillard, 2009). Evaluation of the potential issues associated with the completion of the project activities. The ethical guidelines and procedures should be followed to take an ethical decision for the betterment of the working employees. The good work of the employees should be rewarded and appreciated The follow up of rules and regulation Consultation should be taken from the working employees The possible action should be taken for resolving the potential issues of the enterprise The consequences should be measured in terms of probable action taken in completing the project The best alternative should be chosen for completing the project activities on time. Conclusion: From the analysis of the case study, we are able to propose the effective project planning methodology for analysing the variance of cost and schedule associated with the project completion, and what leadership style should be adopted to motivate the employees to achieve the target of the enterprise. References: Anantatmula, V. (2013).Project manager leadership role in improving project performance. 1st. ed. [ebook] https://web.nchu.edu.tw/pweb/users/arborfish/lesson/8761.pdf [Accessed 25 Sep. 2017] Collyer, S. (2009).Project management approaches for dynamic environment. 1st. ed. [ebook] [Accessed 25 Sep. 2017] Gillard, S. (2009).Soft skills and technical expertise of effective project manager. 1st. ed. [ebook] https://iisit.org/Vol6/IISITv6p723-729Gillard599.pdf [Accessed 25 Sep. 2017] Luca, J. (2014).Successful team work: A case study. 1st. ed. [ebook] https://www.unice.fr/crookall-cours/teams/docs/team%20Successful%20teamwork.pdf [Accessed 25 Sep. 2017] Muszynska, K. (2015).Communication management in project team-practice and pattern. 1st. ed. [ebook] https://www.toknowpress.net/ISBN/978-961-6914-13-0/papers/ML15-266.pdf [Accessed 25 Sep. 2017] Rao, S. (2013).Organizational behaviour and effective management. 1st. ed. [ebook] [Accessed 25 Sep. 2017] Slevin, D. (2007).An overview of behavioural issues in project management. 1st. ed. [ebook] https://www.researchgate.net/publication/228050474_An_Overview_of_Behavioral_Issues_in_Project_Management[Accessed 25 Sep. 2017] Turner, R. (2014).The project manager leadership style as a success factor on project. 1st ed. [ebook] https://projekter.aau.dk/projekter/files/225265908/06._The_Project_Manager_s_Leadership_Style_as_a_Success_Factor_on_projects.pdf [Accessed 25 Sep. 2017] Xiong, R. (2012).Leadership in project management. 1st. ed. [ebook] https://smartech.gatech.edu/bitstream/handle/1853/26596/xiong_riyue_200812_mast.pdf [Accessed 25 Sep. 2017]