Compare and Contrast: Capital One 360 to Dezurik

Company OverviewFrom an operations management perspective, we compared and contrasted Capital One 360 to Dezurik. We looked at many different aspects of both businesses in relation to various operational and business elements. We conclude that both corporations have significant differences based on manufacturing versus service operations. Dezurik is a pure manufacturing company, which was founded in 1928, while Capital One 360 is a pure service company that was founded in 2013. Dezurik designs and manufactures valves for use in commercial and residential applications. Capital One 360 provides online banking options to consumers in the United States.Topics CoveredOur goal in this business report is to compare and contrast Capital One 360 and Dezurik based upon the following categories:Service vs Manufacturing contrastBusiness and Operations StrategyProcess Design and Supply Chain, Flow ChartTQM, Jit, Six SigmaKanban, KaizanSWOT AnalysisCapacity PlanningLayout and DesignRecommendations In summary, both companies are making short and long-term adjustments to prepare themselves for the years ahead. By implementing our original  recommendations within each company, they will both become more efficient and effective companies as a whole.Manufacturing often provides services, and services often provide tangible goods. Dezurik is a pure manufacturing company, whereas Capital One 360 is a pure service company. Dezurik designs, develops, and manufactures tangible products that are valves and inventories them inside their manufacturing facility. Dezuriks plant equipment is used solely for the production of their valves and related products. The dezurik manufacturing company has low customer contact and a longer customer response time. In contrast to Dezuriks pure manufacturing company, Capital One 360’s pure service corporation handles their business much differently.Capital One 360 has intangible products that cannot be inventoried. Capital one 360 has high custo mer contact and can be reached 24/7. They offer many different ways to service customers such as in their cafes, calling and talking to a real capital one associate, blogging, and also offer a mobile app. The cafà © allows customers to interact with Capital One 360 employees and the employees working behind the counter are educated in their business. Capital One 360 has a short response time; customers can go online to access their accounts which saves them time and money. They are also labor intensive and have around 450 associates working in their St. Cloud office.Although Dezurik and Capital One 360 differ in terms of service vs manufacturing, they share many similarities. Both corporations use technology. Dezurik uses modern up-to-date technology in the machines they use to manufacture valves, as well as in their 3-D solid modeling of valve parts and assemblies. Capital One 360 also uses technology by offering services over the web, phone, ATM or by mail. Both companies have qu ality, productivity, and response issues that must be dealt with on a daily basis to maintain customer satisfaction. Both companies must have forecast demand and each will have capacity, layout and location issues.Both Dezurik and Capital One 360 have business and operations strategies in place to ensure success in their respective businesses. Dezurik has a strategy of giving their customers high quality products that will withstand the test of time.   Capital One 360 wants to give the consumer an easy to use product that is incredibly efficient and environmentally friendly. Both companies have  strategies that are similar, while others are completely different from each other. Dezurik, being a pure manufacturing company, needs to focus more of their work on their manufacturing process.In order to produce the valves they need, they must regulate their supply to correlate with their demand. This can be shown in their manufacturing process. Dezurik has some valves that they are ma ss producing all of the time. They also are able to take on project builds for custom sizes and designs. These are two different segments of Dezurik which require two different business strategies. The first strategy that Dezurik has is to be continuously producing their standard size valves. This is a fairly straight forward operations strategy. Keep up with the demand for the valves, and at the same time maintain an efficient product assembly line. The second strategy has to do with their special product order segment. They do this in several different ways.The first is to complete the projects in house, which shares the same as the previous strategy. The second strategy is to have one of their teams build and complete their projects on site. This typically happens when they work on a project with components that are too big to build in house. The business strategy for Dezurik is much different. They want to become the largest producer of valves in the world. They do this by outso urcing some of their components to China, which brings down production costs. They also need to be certified to be sold in other countries around the world. They are trying to expand internationally and build up partnerships and relationships with governments and companies from around the world. In order to keep these relationships intact, Dezurik has a full time service team that travels around the world to ensure that their products are working correctly and that they have satisfied customers.Capital One 360 shares some similarities with Dezurik in their business strategies, but is completely different with their operations strategies. To begin, Capital One 360 is a pure service company. They have around the clock customer service to provide help and services to their customers. This is similar to Dezurik, but on a much larger scale. Since Capital One 360 has no physical locations, they need a much larger service department to help satisfy the demands of their customers. Their ser vice department does differ in that they do not need to travel around the world to help their customers, rather they can do it all from their computer with just a few clicks of the mouse.Capital One  360 has a unique business strategy for the banking industry. All of their banking business is done online. This means they have no physical banks. Also, all the money they have is virtual. This means they will need a large technical service department to help keep everything that is online, sorted out. Their operations strategies are different from Dezurik in several ways. First, Capital One 360 does everything online. They do have a sale department, but they never have to leave their cubicle to make a sale. This is different than Dezurik who may have to send their sales person out to a job site in order to ensure that the product they receive will be correct.While these two companies do share business strategies, their operational strategies do tend to be further apart from each othe r. Dezuriks process design supports product manufacturability and defines their product characteristics of appearance, materials, dimensions, and performance standards. Dezurik’s process design starts with the idea that customers need better valves. Dezurik uses a hands-on philosophy that begins with design. They then use modern computer aided design systems to construct 3-D models of valves and assemblies. From here, the models are transferred to an area where stress tests are performed on the models. The final step in Dezurik’s process design is continually analyzing and adding safety factors to the models to ensure long-term reliability.The flow chart inside Dezurik’s manufacturing facility starts at the loading docks. Here, ready to go shipments of valves are placed. As you enter further into the facility, the size of the valves placed in inventory decrease from 72 ’’all the way down to 3’’. This ensures that heavier and harder to move valves are placed closer to the loading dock to improve efficiency. Dezurik also uses intermittent operations, which means they produce a variety of products in lower volumes. Intermittent operations are used because different valves have different processing needs. This causes the workers to perform different tasks, and during the tour we learned that some workers switched stations on a daily basis. Dezurik has multiple buyers who want different specifications for every valve they receive.This creates a batch process within the manufacturing facility allowing Dezurik to separate one customers order from another customers order. Dezurik’s designing process and consideration consists of make-to-order strategy. Moving away from Dezurik and into Capital One 360, there is contrast in the design of services that  Capital One 360 has vs Dezurik’s design of goods. Capital One 360’s service design is unique in that the service and entire service concept are bein g designed. However, they are similar in which product and service design must match the need and preferences of the targeted customer group. Capital One 360’s flow chart differs from Dezuriks flow chart. Capital One 360 does not flow from one end of the building to the other in a line; instead they have different floors within their building where they communicate back and forth.This creates a batch process where each floor is a batch working on a different project then the other floors. This is also called intermittent operations where Capital One’s resources are grouped together by function. The overall efficiency at Capital One 360 is around 65%. Both Capital One 360 and Dezurik have Total Quality Management plans in place to help ensure that their customers get the products and services that they want. Capital One 360 has different banking plans that have been developed to help cover a wide range of customers. Basically, they have standardized their products to he lp ensure efficiency and to keep costs lower.Dezurik on the other hand, has many different products and services that can be produced based on what the customer wants. This may not be as efficient, but it gives them the advantage in securing business that cannot be obtained by companies that incorporate standardization. Dezurik also does a ton of product testing to ensure that the customer is getting a product that is guaranteed to last a long time. Capital One 360 and Dezurik also work with JIT. Just In time production can be shown more effectively in Dezurik since it is a pure manufacturing company. They use a pull system for production which causes them to have an inventory of their products. They can increase or decrease their production of certain models based upon forecasting.Capital One 360 does not focus as much on Just-in-Time manufacturing, rather they spend more of their time using TQM and respect for people. Since they are purely a service company, They are constantly wo rking with people to ensure that they have an enjoyable experience banking with Capital One 360. If Capital One 360 doesn’t respect their customers, it would be extremely easy for their customers to take their business to another bank. Like Capital One360, they also need to focus on TQM. They need to constantly be updating their products and services to give the customer want they want. They need to be surveying and working with their customers all the time to help them  develop effective strategies in the online banking world.Capital One 360 does focus a lot on Six Sigma. They have people in house that are constantly working to help make the company more efficient and effective. Basically, there are only four defects per million opportunities. This forces Capital One 360 to run incredibly lean. A few ways they do this is by going completely paperless. This saves a ton of money, as well as paper. Another way Six Sigma has been useful to Capital One 360 is in processing time . They have reduced the amount of time it takes to pull up and process a customer when they are on a service call. This is critical because the faster they can make their customer service process, the faster they can help more people. By doing some serious improvements to Capital One 360, they have become incredibly lean and efficient. This is different than Dezurik.They can’t run Six Sigma because they take on custom jobs. These can be made more efficient, but to run a whole company Six Sigma test just is not practical.Dezurik follows Kaizen, continuous improvement, which requires the company to continually strive to get better at manufacturing valves through learning and problem solving. One way they comply to Kaizen is in their testing room, where they test their valves to see where any improvement can be made. Dezurik uses a pull system where communication is made possible through the use of kanban cards. These kanban cards consist of the product name, the part number, an d the quantity that needs to be produced. The kanban cards are attached to a group of Dezurik’s products.When the employees need products from a preceding workstation, they pass the kanban to that station. This kanban authorizes the worker at the preceding station to produce the amount of goods specified on the kanban. These kanban cards are placed in visible areas for everyone to see. There are as many kanban cards in the system as there are batches of products or valves. This allows Dezurik to continually improve the efficiency of their system. In contrast, Capital One 360 does not have kanban cards, but they do follow the Kaizen approach of continuous improvement. Capital One 360 is constantly trying to help their customers save time and money. They are doing this in part by offering simple financial products such as giving fee-free checking and savings that they can access from their own computers. They are also continually trying  to find ways to outpace and outperform their competitors.This approach forces Capital One 360 to continually improve their business functions in order to get a step ahead of competitors. Layout and design for Both companies is incredibly different. Dezurik, being a pure manufacturing company, has their main office, and they also have a large warehouse where they manufacture their valves. The front office of Dezurik is rather old. This works for them because they don’t necessarily need to keep up with the newest, up-to-date technology to make their valves. Instead of investing money into their office, they have spent more of their money investing into newer, more efficient machines in their warehouse. They have also changed some of their design to allow for a more efficient production process. They run a pull process at Dezurik. At one end of the plant, they take in all of their supplies.The supplies then get put into an inventory rack until they are needed. The supplies are then distributed throughout the factory to where they are assembled. The first area you walk into from the supply area is where all of the standardized valves are made. They have multiple stations where one person is running about four machines constantly. These are very efficient. This is because they have outsourced the production of their standard valves to China for manufacturing. The next segment of the plant is made up of several assembly lines that produce other varieties of products. The other side of the warehouse is where all of the large valves are made. They are made here because they typically are too large to be moved across the entire plant. This end of the warehouse is also where their products get painted.The paint booths are strategically placed at the end of the assembly lines so that as soon as the products are manufactured, they can be painted. They then get sent off to testing. All the valves they make are tested to ensure that the product can withstand the pressures of daily use for years. After th e products are tested, they are either loaded onto trucks and sent off, or put into the warehouse until they are needed. Capital One 360 has a completely different layout than Dezurik. To start out, They are in a very modern building located right in the middle of downtown St. Cloud. When walking in the door of Capital One 360, the first thing you will notice is that you are in an ultra-modern cafà ©. Since Capital One 360 doesn’t have physical banking locations, the cafes are the closest thing that people can get.These cafes are not just for a cup of  coffee either, the people who work at these cafes are a highly knowledgeable sales associate who can make you a latte and sell you a checking account at the same time. This is for people who are either curious, or just not as comfortable with starting a new bank account online. Once past the cafà ©, Capital One 360 pretty much looks like almost every other office building except for a few key features. The first is that All the departments are located separate from each other. Sales is located on one floor, while fraud protection is located on another floor. Capital One 360 also has an interesting layout design. The cubicles are very different from your traditional office building.To start, they run diagonally across the entire floor. They also are much shorter than a normal cubicle. This is so people can locate each other without having to walk across the office to find out they are not there. They also are not enclosed. This promotes an open workspace that allows people to communicate information quickly and efficiently. Another interesting aspect is that they only have about 60 percent of their office filled with employees. This is so that they can grow and add on employees at any time. The new employees can start and have their own functional workspace instantly.Capital One 360 also has a central command area located right in the middle of the office. This is where security works. Also this comman d center has TV monitors that are linked up with their other offices around the country. This feature is so they all can be working together with their offices all around the country. If something happens at their Delaware office, they can get it verified by their office in St. Cloud.Capacity planning within Capital One 360 and Dezurik are decisions that depend tremendously upon forecasts of demand. These forecasts determine the size of current and future capacity needs. Capital One 360 recently put their capacity planning into effect when they purchased ING Direct and moved into a new building downtown St. Cloud. Capital One 360 made the choice to expand now enabling it to meet customer demand not only for now, but also in the future. If Capital One 360 planned its capacity incorrectly, they may find that they don’t have enough output capability to meet customer demands, or has too much capacity sitting idle. Capital One 360’s move into the new building required long- term commitments and expensive resources.This move  of purchasing a new building came in anticipation of greater demand from their customers. To measure Capital One 360’s capacity, you need the amount of available capacity and the effectiveness of capacity use. From our tour of Capital One 360, we determined that their capacity was operating at an efficient level. When examining Dezurik’s capacity planning, we looked at their recent expansion. In 2011, Dezurik acquired two water and wastewater brands and then in 2012 Dezurik acquired a valve company. This tells us that Dezurik is expanding to meet customer demands in the future. These recent acquires to Dezurik increases capacity and allows them to meet customer demands as well as sales.We can reasonably measure Dezurik’s capacity by measuring their input, which is labor hours, with their output, which are valves per shift. However this is not a very effective method to measure capacity because Dezurik produce s many types of valves. We believe that Dezurik is having success because of its focused factory that responds more efficiently to demand. In todays’ world, large factories need to be more flexible and focused, and from the tour, we believe Dezurik is doing a good job of staying agile within the industry.This will help Dezurik identify long-term capacity requirements in their forecasts of future demand. In Dezuriks planning for capacity, they have strategic and tactical decisions. Their strategic decisions consist of what investments in new machines and equipment it should make, and by the looks of it, they are investing in new machines that increase automation and decrease manual labor. Their tactical decisions consist of planning their workforce, inventories, and day-to-day use of machines. From the tour, we learned that some of the new machines run 24 hours a day. Dezurik and Capital One 360 have similarities in their capacity planning, that being that they are both prepar ing for long-term and high customer demands in the future.Let’s look at some of the strengths of Dezurik. The first strength is that they make a high quality product. Also, they have a very efficient production process for their standardized products. Another pro for Dezurik is they are working hard to become more efficient. They are implementing all sorts of new machines to help speed up and improve the manufacturing process. There are multiple weaknesses that plague Dezurik. To start, they are not an efficient company. This is mainly due to the poor layout of their production area.A second weakness is that they have begun to outsource some of their products to  China. This can be a negative because if they get a bad shipment, it can take over 6 weeks to be corrected. This could become a huge problem if they get the wrong product sent multiple times. There are a few opportunities that Dezurik can expand into. For starters, they are putting in a new paint booth. This will h elp cut down on time. Before, they outsourced their paint of some products to a place in Alexandria. This means that the product had to leave and come back before it can be shipped out.They are also making their assembly line more efficient which will really help them improve the speed at which they can produce valves. Dezurik does have some threats that they have to deal with looking into the future. The biggest threat will be imports from China and other places. These places have very low labor costs, and they also don’t have the same environmental regulations that we do. This means that they are able to produce similar products at a much cheaper price. The only flaw is that these products also tend to be of a much lower quality. This is why Dezurik has not been highly affected by this threat. Capital One 360 has multiple strengths as well. The first is they are incredible efficient.By not using any paper, they are able to cut down on the amount of waste that they have. No physical banks helps to cut down on their carbon footprint too. Second, by utilizing standardization, they are able to run a very lean company. These strengths can also be some of their weaknesses. Having no locations means that people have to do all of their banking online, or over the phone. They cannot go to the bank to talk to a person, rather they have to call into their customer service lines and do all of their problem solving over the phone. There are some opportunities that Capital One 360 has that they are taking advantage of. They are targeting the younger generation. This is because they are appealing to the tech savvy crowd.They younger generation tends to be more familiar with technology. They will be able to expand into this younger generation, and this is where their greatest opportunity will lie. In the world of banking, there are threats all over the place. For starters, all the banks are going to online banking. Most of these banks also have physical locations tha t people can go to when they have questions. Also, you will tend to be more of a number at Capital One 360. At the smaller banks, people will know you by name, and the service will be more  personal. If Capital One 360 can deal with these threats, they will be able to succeed in a threat filled environment.There are a few recommendations that could be made for both Dezurik and Capital One 360. To Start with Dezurik, we would recommend that they make some serious improvements to their factory layout. They should be able to take the supplies right off the truck and instantly put them into production. They could implement a better JIT strategy. They are doing a good job of spreading their business around the world. We would also recommend that Dezurik should go paperless. Its more sustainable, and it would help them to move towards and electronic inventory system. This would speed up their order processing time, and make them more efficient. For Capital One 360, we would recommend th at they begin to open more cafes around the United States.These are a tangible part of Capital One 360 that consumers can actually go. Also, they could provide their users with more banking options. Giving their customers banking options can be key in making them feel like they are more than just a number to Capital One 360.In Conclusion, Both Dezurik and Capital One 360 are both leaders in their respective industries. Dezurik, being a purely manufacturing company, is run completely different from Capital One 360. Being a bank, Capital One focuses their efforts on its services. This means they are more frequently talking to consumers while providing them with a service. Dezurik focuses its efforts on their manufacturing operations. Both companies compare and contrast greatly in relation to various operational elements. Overall, these are two strong companies that are innovative and leading the way in their respective fields.

Opportunities And Threats For Building Environmental Sciences Essay

Every individual on Earth is exposed to environmental radiation. This radiation consists of natural radiation, cosmic radiation and external radiation. External radiation derives from the medical activities, such as X raies or accidents in atomic workss, while natural radiation derives from the decay of radioisotopes in dirt or in bedrock. These radioisotopes may be answered either as a consequence of human activities, such as Strontium-90 ( A ­90Sr ) and Technetium-99 ( 99Tc ) or with physical presence like Uranium-238 ( 238U ) . The decay of 238U green goodss Radium-88 ( 88Ra ) and the decay of 88Ra, eventually produces Radon-222 ( 222Rn ) . Since the 2nd portion of twentieth century when plentifulness of mineworkers suffered from lung malignant neoplastic disease, a batch of research has been conducted on the effects of Rn on worlds. The last 20 old ages and more, the effects of Rn in residential sector have been investigated. Because of this the undermentioned study was necessary to discourse the issues with Radon in homes.2. Radon, beginnings and effects2.1 Radon Radon-222 is a chemical component which has atomic figure 86 and belongs to baronial gases. ( Table 1 ) What is more, it has 3 chief characteristics: it is colorless, odorless and tasteless, and as a consequence it can non be traced by human senses. In add-on, it is chiefly in gaseous stage and and its half life is 3.83 yearss. Al-Saleh ( 2007 ) writes that the half-life clip of Rn makes it more of import than other isotopes ( 220Rn, 219Rn ) . Because of the fact that Rn is radioactive, it comprises a risky component for human wellness. Table 1 Beginning: hypertext transfer protocol: //en.wikipedia.org/wiki/File: Periodic_table.svg Finally, radon concentration is measured in Becquerel per three-dimensional metre ( Bq/mA ­A ­3 ) in SI and harmonizing to UNSCEAR ( 2006 ) ; typically Numberss for indoor and out-of-door concentration are 100 Bq/ mA ­A ­3 and 10 Bq/ mA ­A ­3 correspondingly. A 2nd unit for radon concentration is picocuries per liter of air ( pCi/L ) and the relationship between the two units is: 1 pCi/l is tantamount to 37 Bq/m3. 2.2. Radon out-of-doorss As mentioned before, Rn is produced in dirt or in bedrock from the decay of Uranium. Because of its gas stage, Rn is diffused in permeable dirts through clefts and so it can be released to the ambiance. When the component enters in atmosphere, it is dispersed and so the concentration is really low. Therefore, radon out-of-doorss is non unsafe for human wellness. 2.3 Radon indoors Harmonizing to BRE ( 1991 ) , â€Å" Rn enters in edifices chiefly by air flow from the underlying land. † Radon is the densest gas, as a consequence to be concentrated below edifices. In add-on, the different force per unit area between the dirt and the indoor may do clefts on the ground-floor concrete slab which are the way that radon gas discoveries to come in the edifice and that difference is besides the necessary force which radon demands to come in. ( Figure 1 ) EPA ( 2012 ) indicates that good H2O and edifice stuffs are besides means with which Rn is transferred into houses. However, it continues reasoning that Rn through stuffs is non unsafe every bit good as H2O, when its beginning is surface H2O. After come ining inside the house, Rn is trapped and it starts to disintegrate. This poses a menace for residents because ; as UNSCEAR ( 2006 ) argues â€Å" radon and its decay merchandises cause lung malignant neoplastic disease † . Khan ( 2000 ) explains that this phenomenon is happened because the restricted airing inside the houses permits Rn and its girls to make high degrees of concentration. Therefore, they enter in human organic structure through respiratory and they are deposited in the lungs. Finally, Rn and its girls, particularly ephemeral offsprings: Polonium- ( 218, 214 ) , Bismouth-214 and Lead-214 emit alpha atoms which lead to malignant neoplastic disease. As WHO ( 2009 ) references, Rn is deemed the 2nd cause after smoking for lung malignant neoplastic disease in the general population. Figure 1: all possible waies which radon can follow Beginning: BRE 19993. Radon: Protective-remedial stepsEPA ( 2012 ) writes that new edifices should be built with Rn protection steps and should besides be tested for Rn concentrations after tenancy. BRE ( 1999 ) , EPA ( 2012 ) and WHO ( 2009 ) reference that all the bing edifices should be tested for radon concentration. However, as EPA ( 2012 ) argues, there is non a degree of radon concentration that it can be deemed as a safe figure. This is explained by WHO ( 2009 ) which writes that the invariably exposure to â€Å" low or moderate † Rn concentrations causes more lung malignant neoplastic disease instances than exposed to high. Therefore, even if homes have concentrations & lt ; 4pCi/L, remedial steps should be implemented for cut downing the figure to the lower limit. 3.1 Protective steps for new homes Basic Rn protection Initially, new homes can be protected by implementing a radon-proof barrier between the dirt and ground-floor concrete slab. This technique is named â€Å" basic Rn protection † ( BRE 1992 ) and can be used to a suspended, unmoved and ground-supported concrete floor. In peculiar, a damp-proof membrane is installed between concrete floor and floor toping ( Figure 2, 3 ) or under them ( Figure 4 ) which secures the airtightness of the house. It is significant to be mentioned that this method should be implemented decently because there are many dangers like damaging the uninterrupted signifier of the membrane. In add-on, this membrane should cover any wall pits so as to be a barrier for Rn and by and large be uninterrupted to the whole building site. If any specific country demands to be sealed or lapped, chiefly articulations, it should be done right. Therefore, craft should be high-quality. Following these stairss, the edifice lessens the infiltration through clefts or gaps an d it is protected by Rn. Figure 2: damp-proof membrane Figure 3: damp-proof membrane in suspended concrete floors in unmoved or land supported concrete floor Beginning: BRE ( 1991 ) Beginning: BRE ( 1991 ) Figure 4: damp-proof membrane in unmoved Figure 5: full Rn protection in suspended or land supported concrete floor concrete floors ( natural airing ) Beginning: BRE ( 1991 ) Beginning: BRE ( 1991 ) Full Rn protection BRE ( 1991 ) argues that the above method is non so effectual while, BRE ( 1999 ) writes that in countries with high concentrations more techniques should be used during building. These techniques are the usage of Rn sumps and usage of natural airing in suspended concrete floors. Natural-Mechanical airing In suspended concrete floors below the slab, natural airing system can be constructed as in figure 5. Meanwhile, the place of fans can besides be created because there are possibilities that the natural airing consequences may be unequal. Therefore, this method combines characteristics of natural and mechanical airing ; nevertheless its effectivity is non certain. Radon sumps Radon sumps are particular buildings which are placed in dirt below the slab in ground-suspended floors. There are two sorts of sumps: depressurised and pressurised sumps. The former has as a consequence the extenuation of Rn from dirt to the ambiance, while the latter leads the Rn gas off of the dirt where the house is placed. They can besides be distinguished in two sub-categories: passive and active. ( Figure 6, 7 ) Passive sump systems do non use fans while active sump systems do use. The map of Rn sumps is based on I ) the stack consequence and two ) the air current consequence. These two phenomena secure that the motion of the radon-laden air throw pipes will be natural. The stack consequence is based on the construct that the warm air moves upwards. The interior decorator has to procure that the pipes used for breathing the radon-laden air will travel through warm topographic points of the house. As a consequence, the air inside the pipe will be warmer and will be given to travel upwards, making a drive force inside the pipe. Therefore, the Rn gas in sump will be emitted to the ambiance of course. ( BRE 1996 ) Figure 4: Typical Passive Sump Figure 7: Typical Active sump Beginning: BRE ( 1996 ) Beginning: BRE ( 1996 ) The air current consequence is related with the phenomenon that when air blows on or above a surface, tends to make a zone of negative force per unit area. In instance of Rn sumps, the air current pulls the air from the airing terminus off. Due to this, a likewise impulsive force is created and the Rn gas from the dirt dispels in the ambiance. ( BRE, 1996 ) Depressurizing sumps have the possible to work as a â€Å" vacuity pumps † . The different force per unit area between sump and air, and the at the same time upward air flow in pipes have as a consequence the dirt gases to come in into the sump and afterwards to be driven to the air. The inactive depressurising sumps ( figure 8 ) do non hold a merriment. However, as BRE ( 1999 ) , WHO ( 2009 ) reference, when the decrease is non satisfactory so an in-line fan should be installed in the pipe in order to increase the air flow. The new system will be called active depressurising. ( Figure 9 ) Owing to this, BRE ( 1999 ) , WHO ( 2009 ) propose that when constructing a inactive sump system, builders should put in the system with a manner to be easy transformed subsequently, if it will be necessary. Active pressurising sumps have as a consequence to take the Rn from the house. A fan located in the pipe blows air in the sump which consequences in the decrease of the sump ‘s force per unit area because the air is removed to the land. Therefore, the air of the house tries to equilibrate the force per unit area and this eventually leads radon out of the house. ( BRE 1996 ) Figure 8: Passive depressurizing sump Figure 9: Active depressurising sump Beginning: WHO ( 2009 ) Beginning: WHO ( 2009 ) 3.2 Remedial steps for bing homes In bing homes the remedial steps do non differ from the protective steps for the new buildings. The execution of sumps may be hard and expensive but it is a remedial step with certain results. However, the simplest mitigating step is the waterproofing of the clefts and gaps which permit Rn gas to come in the house.4. Discussion6. DecisionAs mentioned before, there is no peculiar degree of Rn which could be deemed as a safe degree. In add-on, as Jelle ( 2012 ) indicates there is neither a manner of ciphering exactly the Rn which enters inside house nor the exact decrease after the execution of remedial or protective steps. This is because Rn is a gas and it can work even the smallest cleft or hole to come in a house. Therefore, applied scientists, builders, interior decorators and by and large everyone who is involved in a building, should work with professionalism in order to guarantee the best consequence.

Corruption of Power †Macbeth Essay

Shakespeare’s bloody and tragic play Macbeth, written in the seventeenth century, portrays blind ambition, appearances can be deceiving and corruption of power. It follows the reasons behind Macbeth’s downfall. The play analyzes how other outside forces can easily change the path of ones desires and decisions. The witches’ intrusion, Lady Macbeth’s manipulation and Macbeth’s dark desires all interfere and manipulate Macbeth’s decisions. He goes from being praised as a noble soldier to a traitor and corrupt king. In the play, Macbeth commits many terrible crimes; however he is solely not responsible for all of them. The outside factors manipulate his decisions and are responsible for his downfall at the end. To begin, the witches’ manipulate Macbeth early in the play by strongly influencing his decisions. The witches scheme to tell Macbeth his fate after a battle has is lost and won. While traveling to King Duncan’s castle Macbeth and Banquo stumble upon the three witches. The first witch greets Macbeth with his current title as the Thane of Glamis, the second witch greets Macbeth as the Thane of Cawdor, and the last witch greets Macbeth as, â€Å"All hail Macbeth that shalt be king hereafter† (1. ii. 53). The greetings are prophecies that plant a negative seed of blind ambition in Macbeth’s thoughts and the predictions are an approach on the witches’ behalf to establish trust. Soon after the witches’ disappear, two Scottish Nobles – Angus and Ross – inform Macbeth of his new title as the Thane of Cawdor in addition to his current title as Thane of Glamis. The news makes Macbeth hopeful and invokes blind ambition, that he may become king. The prediction may come true easily as the Thane of Cawdor title did without causing harm to anyone. Once Macbeth actually becomes King, the pressure and guilt of his actions start to build. He starts to worry and is insecure about his throne because the witches also predict that Banquo’s descendants will become king. He decides to persuade two murders to commit the monstrous crime of murdering his good friend. Macbeth intends to murder Banquo and his son Fleance, because they pose a great threat to his crown. After Macbeth is successful in persuading the two murders he orders the two murders, â€Å"to leave no rubs nor botches in the work/ Fleance, his son, that keeps him company,/ Whose absence is no less material to me† (3. . 153-155). Macbeth shows fear toward the prediction the witches foretold Banquo and this pushes him to murder once again. Moreover, the prediction was not meant directly at Banquo but for his descendants to rule Scotland as future kings. Macbeth does not want this because he desires his own descendents to become future kings. Banquo, and his son Fleance are a mere obstacle that need removing and Macbeth shows no concern or remorse in his decision to murder his dear companion Banquo and his son. Later, Macbeth receives news about Banquo’s death and Fleance’s escape is relief however, it is short lived when Macbeth starts to see the ghost of Banquo. Macbeth is horrified and scared which leads him to the decision of visiting the three witches for answers. Macbeth is feeling insecure and fears Fleance returning and taking the throne away from him. There in a cave, the witches call upon their masters, the three apparitions to answer Macbeth’s request for information. The first apparition, an armed head, informs Macbeth to beware of Macduff. The second apparition, a bloody child, advises Macbeth to be secure and not worry, because any man born from a woman can not hurt Macbeth. Macbeth laughs at this apparition’s prediction because every man is born from a woman and the second apparition’s prediction gives him more confidence and arrogance. Last of all, the final apparition, a crowned child with a tree in its hand, tells Macbeth to be proud and not fearful because he cannot be vanquished â€Å"until/ Great Birnam Wood to high Dunsinane Hill/ Shall come against him† (4. i. 106-107). Macbeth is delighted to hear this prediction from the third apparition because he knows trees can not move and this information gives Macbeth the confidence he was seeking for in order to feel secure about his position and his throne can not be taken away. He feels as if no one can harm him. Although the apparitions are correct, the witches have twisted the truth for Macbeth to feel invincible and confident on the decisions he is making to cause him harm in the near future. Secondly, Lady Macbeth’s blind ambition and false appearance take part in further altering Macbeth’s decisions. Lady Macbeth reads Macbeth’s letter and she immediately starts to plot King Duncan’s murder so the witches’ prophecies can her husbands desires can become true. She knows Macbeth is, â€Å"too full o’ th’ milk of human kindness/†¦ That wouldst thou holily; wouldst not play false/ And yet wouldst wrongly win† (1. V. 17-23). Lady is aware her husband Macbeth is too noble and innocent to hurt an individual for his own personal gain. She knows she will have to persuade Macbeth to murder Duncan in order for him to become king. Later, during the congratulatory dinner, Lady Macbeth convinces a hesitant Macbeth to execute Duncan. At first, Macbeth is hesitant because he thinks he is double crossing trust with the king, he is his kinsman, and tonight Duncan is his guest. Moreover, Duncan has done no wrong to deserve death. Macbeth confesses to Lady Macbeth he can not murder Duncan however, Lady Macbeth says, â€Å"Art thou afeard/†¦Wouldst thou have that/ Which thou esteem’st the ornament of life/And live a coward in thine own esteem† (1. vii. 43-47). Lady Macbeth is challenging his manhood by calling him a coward. She is manipulating Macbeth by playing with his insecurities and leaving him confused and in a vulnerable state. Lady Macbeth takes advantage of the moment and convinces Macbeth to murder Duncan to prove he is a man and worthy of his manhood. As the dinner goes on, Lady Macbeth keeps up a perfect facade of an innocent, gentle host dressed in white gown. However, she is deceiving everybody because as the guards drink and party the night away she laces their drinks to knock them. Therefore, later the blame of Duncan’s murder can be put on their heads. After midnight, Macbeth murders Duncan and he is mortified and paranoid. Macbeth is disgusted at himself however, Lady Macbeth convinces him â€Å"My hands are of your color, but I shame/ To wear a heart so white/†¦ A little water clears us of this deed† (2. ii. 83-87). She manipulates Macbeth in thinking the murder of Duncan is just a step to complete his desires. She completes the murder and helps Macbeth wash his hands as well as hers. She reassures him they will not be caught because she cleverly drugged and put the bloody draggers in the guard’s hands. In addition, explains their cover story as being asleep while this dreadful deed took place. Moreover, Lady Macbeth uses her blind ambition and false appearance to manipulate Macbeth’s decisions and deceive the individuals around them to achieve Macbeth’s desires and complete the witches’ prophecies. Thirdly, Macbeth’s dark desires start to transform Macbeth from a noble soldier to a tyrant and a corrupt king as a result, of the manipulation from the witches’ and blind ambition from his wife – Lady Macbeth. At the beginning of the play Macbeth is praised for successfully vanquishing the enemy and his army alongside his loyal companion and solider, Banquo. After the battle, King Duncan praises Macbeth as, â€Å"O valiant cousin, worthy gentleman† (1. ii. 26). The praise gives Macbeth great respect and honour because ‘cousin’ is referred to an individual who is highly trusted and respected. Macbeth is praised because of his respectful deeds of protecting the king and eliminating the enemy threat. The good words Duncan says to Macbeth honour him in a positive way. However, soon after the witches tell Macbeth the prophecies; the second prophecy becomes true and he is awarded the tile of Thane of Cawdor. Macbeth travels to King Duncan’s castle to let him know of his appreciation towards the kind gesture. However, at the castle Macbeth’s desires start to change. Duncan announces his eldest son, Malcolm, will be the heir to the throne after his passing away. Macbeth says in an aside, â€Å"Stars, hide your fires; / Let not light see black and deep desires† (1. iv. 57-58). The seed that the witches’ are responsible for planting inside of Macbeth’s noble thoughts earlier starts to evolve into less noble thoughts of becoming king. Now Macbeth is starting to feel jealous towards Malcolm. He tries to convince himself that such negative thoughts are not good and should not remain in his mind any further. Moreover, Macbeth is scared and hopes no one is aware of his negative thoughts towards Malcolm. Moreover, Macbeth now carries the burdens of two murders; of King Duncan, and his good friend Banquo. However, he starts to feels insecure once again due to the apparition’s prediction of being aware of Macduff. Macbeth states, â€Å"From this moment/ The very firstlings of my heart shall be/ The firstlings of my hand† (4. . 166-168), and orders in a rushed decision to execute every living soul in Macduff’s castle so he can sleep better at night. The irrational order to slaughter innocent people in Macduff’s castle proves how Macbeth is abusing his power of king. Macbeth is punishing Macduff’s innocent family for Macduff’s treason. However, Macduff’s family is not even aware of Macduff’s decisions and treason. Macbeth s ays he does not care what he does or how it will affect the others around him as long as it will help him sleep better at night. This proves Macbeth is no longer noble but a tyrant and corrupt king. Furthermore, the changes Macbeth undergoes, from a noble solider to a tyrant and corrupt king occur due to his dark desires; his decisions were affected by the witches’ manipulation and by his wife, Lady Macbeth’s blind ambition. To conclude, Macbeth is not responsible for all his terrible crimes he commits throughout the play. The witches’ manipulation, his wife – Lady Macbeth’s blind ambition and Macbeth’s desires hinder with noble Macbeth’s decisions and cause him to become Tyrant and Black Macbeth. At the beginning of the play he is the great and noble solider praised by King Duncan, but later transforms to a psychotic and corrupt king. He killed innocent people to get to his position as king and to further secure it. Furthermore, Shakespeare portrays in his play Macbeth, blind ambition, appearances can be deceiving and corruption of power and how they can be outside forces contributing to one’s downfall. In Macbeth’s case, outside forces influence his decisions and ultimately lead to his destruction.

Strategies for Avoiding Plagiarism Essay Example | Topics and Well Written Essays - 500 words

Strategies for Avoiding Plagiarism - Essay Example One can use the resources of other people to paraphrase, summarize, copy words, phrases or sentences in his or her work. Therefore, writers should fully acknowledge the source of the resource used for clear citation through in-citation or bibliography in order to avoid plagiarism There are various strategies that writers use to avoid plagiarism in their work. The first strategy widely used by academic writers to avoid plagiarism is proper documentation of resources used in their contents. Content documentation refers to the acknowledgment of authors of academic work used in developing one's work. The writer documents the authors of resources such as books, articles, blogs, newspaper posts, essays, magazines, songs, and artworks. Documentation is the safest and appropriate strategy to avoid plagiarism completely. Secondly, academic writers employ another strategy of proper planning before beginning to write academic work. Planning is an important step to make while writing academic papers and presentations since it ensures that one utilizes resources effectively and acknowledges authors adequately. Proper planning also enhances proper choice of works, ideas, statements and phrase to use in the content of the work being produced. Planning for academic writing involves adequate resource search, analysis of identified sources in accordance with the topic discussed and selection of the most appropriate resources to use in executing the academic writing process. Therefore, proper planning is an important strategy used by the writer to avoid writing mistakes such as plagiarism. The two strategies of avoiding plagiarism identified have different impact and importance in the academic writing process. In a comparison of these strategies, both strategies enable writers to avoid plagiarism in the work.  

Graffiti - the Writing on the Wall Essay Example | Topics and Well Written Essays - 8000 words

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Job Serach E-mail Assignment Example | Topics and Well Written Essays - 250 words

Job Serach E-mail - Assignment Example Through my sales executive role, I was aggressive and utilized my energy in implementing sales and marketing strategies. I was able to implement numerous promotional strategies through my everyday tasks Creating cordial and healthy relationship with the clientele and my fellow employees as well as those whom I led has also been my role since at the end of the day, the client has to be treated right. My duties and responsibilities also revolve around keeping a close eye on the target markets, sales and marketing endeavors, identifying gaps in the global markets, which help in maintaining high level of management. As indicated on my resume, I am highly skilled in leadership, sales and marketing, strategy formulation and implementation, policy research and analysis and administrative support to department heads, and managing everyday office tasks. I have a demonstrated ability to prepare reports since this is the best way to monitor what the office needs. I am a team player and thrive in a well-coordinated and dynamic environment. I believe that I would be a perfect fit and it will broaden my

Given what you have learned about the demcocratic Essay

Given what you have learned about the demcocratic - Essay Example He commissions and controls the armed forces. The monarch government also can call elections regardless of the will of the public. She or he delivers powers directly within her choice and her personal influence is not opposed by anyone. The modern monarchy otherwise recommends the queen to be advised and guided by the ministers she is working closely with (Bradley and Ewing 2011, 198). In a democratic state, every citizen of that state has all the essential rights to decide which type of government he or she wants. The citizens have the sovereign power and will to choose which types of leaders and government they want. Democracy has principles and practices that are specific to it. These principles distinguish it from other forms of government. The citizens to that country possess all the civic responsibility and power to either directly or indirectly exercise their electoral rights. Democracy has its foundation that the majority always rules. What the majority wills and opts for is respected and their rights are supported as well (Bradley and Ewing 103). This refers to the aspect of a government dividing up its responsibilities among distinctive arms. This is advantageous as one arm would not dominate over others by concentrating the core responsibilities and functions to itself. The power is distributed among the branches or so called the arms. The main reason for this is so that an evaluation of performance could be easily done. Incase of any deviations from the expectations of the public, possible corrections could be easily made (Carroll 2013, 105). Under the model instituted by Charles Louis, he divided democracy into three arms (Carroll 111). From his view the political authority took the form of legislative, judicial or executive powers. He explained that to ensure effectiveness in the freedom given to citizens, then these three must be distinct and relate as separate powers, the legislative form pass laws that govern the state. They

A brief history of Capitalism, from antiquity to the present Essay

A brief history of Capitalism, from antiquity to the present - Essay Example re the history of capitalism from antiquity to the present; in doing so the paper deals separately with the Ancient, Medieval, and Modern forms of capitalism. Ancient forms of capitalism had its roots in the agrarian societies; the ancient form of capitalism was prevalent in ancient Israel, Egypt, Mesopotamia, Greece and in the ancient Roman empire. Weber is of the opinion that capitalism was at work in antiquity; he purports that the ancient societies were marked by â€Å"dramatic increases in wealth and these were often followed by decline† and therefore he argues that the existence of ‘apparent economic prosperity and expansion’ during this period show the evidence of capitalistic economic structure. Weber views capitalism as an economic system where â€Å"property is an object of trade, and is used by individuals for profit-making in a market economy†; following this definition Weber considers the slave-based agriculture (comprised of slaves and lands) as an ancient manifestation of capitalism (Love 35-36). The landlords and nobles used to levy rents from their dependants and the estates (plantations based o n slave labour) they owned contributed to the economic surplus. The ancient cities were more natural economies which were centres of consumption than production and therefore the economic surplus had a crucial role to play in the prosperity of the economy. Most of the ancient cities depended on grain imports; however, in cities like Rome and Athens private trade was replaced by state intervention which is against the principles of capitalism. However, organized labour and organized division of labour was absent in the ancient societies even though some crude forms of grouping of slave labour was prevalent in certain plantations and factories. Weber’s list of capitalist pursuits in ancient societies include â€Å"government contracts (tax farming and public works), mining, sea trade (maritime loans), overland trade, the leasing of slaves, and the

Constitution Essay Example | Topics and Well Written Essays - 250 words

Constitution - Essay Example The English dictionary sees the meaning of the phrase to fall within the periphery of all those statutory protocol and social efforts that have concern to the matters of public. As such, health is just one of the aspects that fall within the phrase. Individuals such as James Madison also note that the limits of the phrase also seems infinite, considering the congress has the same authority but in a different capacity which is taxation by the federal government and the spending of the same. In the case Ferrocarril Central Argentino c/Provincia de Santa Fe, 569 held in Argentina, the court noted that the existence of the term in the US constitution is an affirmation of the authority that accrues to the federal government through its taxation and spending. In the case of a state such as Alaska, the existence of the phrase not only does imply public health, but it goes further to note that the phrase implies promoting and protecting public

Essay on All the Pretty Horses by Cormac McCarthy

On All the Pretty Horses by Cormac McCarthy - Essay Example The grandfather embodies the undisturbed life, and after his death Cole begins to think by himself. He leaves a world that he thought he knew for one in which none of the past rules were available. At the beginning he doesn't know that he departs to find the truth about life and about himself. Besides the differences between him and others he must go exploring the world, because when everything collapsed, when his world ruined, he started to understand that the world might mean something else. His awakening is very much alike with what Plato said in the allegory of the cave. Cole is one of the philosopher-prisoners who sees the sun , the symbol of knowledge, and goes to find it. On his way he is surrounded by all kinds of people who try to withhold him. Finding the truth is not such a simple mission , it involves some obstacles and reaching it requires the passing of certain stages, from innocence to experience. These changes are revealed in the book with the help of symbols. In the beginning of the novel Grady is seen as a child who wants to conquer the world, but at the end he is presented with scars on his face and chest. His lack of experience from the beginning makes him to mistake, and the scars are the symbols of rough time that harden him and made him an experienced man. In the beginning Cole arrives to a ranch named "La hacienda de nuestra Senora de la Purisima Conception". This Mexican ranch is very much related to the state of the characters when they reach there. The name in English means Virgin Mary and implies that Grady arrives there with the hope that he will regain the moral values lost in his world. But Mexico is very similar to Texas. The owner of the ranch wants to combine two breeds of horses, so he wants to merge two styles of living, but he is very much against the union of his daughter with an American. This is the paradox of this world, and the meaning must to be seen in the symbol of horse. John Grady amazes everyone with his ability to break the wild horses, but this comes from the fact, that he himself is a wild horse, riding for a new truth. At certain moments in the novel characters are very much alike horses. The horse is the symbol of friendship and freedom: Cole goes with his friend to Mexico, and they get friends with a thi rd: Jimmy Blevins who had stolen a horse. Their friendship and the stealing of this horse are the one that gets Cole near death. The owner of the Mexican ranch doesn't want to breed wild mountains horses with its stock; he wants to subjugate the most powerful breed to make a stronger one. At a negative meaning the horse represents the stamina, and also the love and the death. Extending at the level of characters: the owner of the Mexican ranch wants the help of Grady, he praises his ability, but he doesn't want the unification of the two worlds, symbolized by the marriage, and in this way he rejects Grady. They are two different cultures and civilizations and Grady is not welcomed in any side. From the moment they arrived at the ranch they were seen as employees and their help was only temporarily. Even Alejandra's aunt was against the young lovers' affair denouncing the cultural differences between them. In this respect, John and Alejandra can be visualized like two wild horses tha t experience the taste of freedom and love, but only one is ready to face them. Alejandra will drop out her dream, being influenced by her

THE VICTORIAN ERA Essay Example | Topics and Well Written Essays - 1750 words

THE VICTORIAN ERA - Essay Example Childhood during the Victorian era was initially not associated with innocence and primitivism but as having inbred sin. The child was hence encouraged at all time to endeavour to overcome sinful Adam and warned against living in his ways (Mitchell, 1996). Children were also expected to help others with an aim of improving themselves and philanthropy was encouraged. As a result of the industrial revolution, women had the opportunity to tenderly care for their children as their husbands went about making money. The mother's religious role at this time was to teach the child his/her patriotic duty of nation building. The woman had the duty of binding together her family with love under the guidance of the written word. A good number of treatises specifically and practically guided the woman on all aspects of nursery life; child education, dressing and healthcare (Mitchell, 1996). Miniature quilts were made for children that were much similar to those of adults. The child was taught about morality with the bible acting as guide together with books such as the pilgrim's progress. In the 20th century the society became more children centred. Juvenile themes were used on quilts which included embroidery or appliqu. CURRENT PERCEPTION OF CHILDREN The modern world recognizes the child as a very important member of society and asserts their rights to be free from any kind of discrimination irrespective of its own or its parents' colour, race, sex, political opinion, religion, ethnic, national or social origin, birth status, origin, disability or property. The girl child being a common target is given even greater attention to avoid practices like female genital mutilation, sexual abuse, sexual exploitation, son preference, parental sex selection,... The Victorian era may seem like a different world from the one we live in today. The era also has several features that are familiar with those of the modern day. One main difference between these two periods is the role and perception of children and women in the society.The place of women during the Victorian era has been clearly highlighted by Tennyson describing men as wielding swords while women stayed by the hearth holding needles. Queen Victoria became a model of domestic virtue and marital stability during her time.Her marriage represented what marital harmony meant and was often referred to as the nation's mother. She also was an icon of domesticity and middle-class femininity. The period between 1837 and 1901 is specially known as the Victorian Era as it coincides with the reign of the great Queen Victoria of England (Harrison & Ford, 1983). The Victorian era was one that was filled with prosperity in Britain as the country made profits from its empires overseas and realised industrial improvements within England. This era saw the development of a large middle class that was adequately educated. The period is sometimes extended to include 1830 as a result of different sensibilities and political concerns associated with the people of this era.Today, women may not truly be aware of the benefits of living in a society that does not have a rigid class system. In the Victorian era, the woman’s role was rigidly defined offering very little (if any) alternatives for change. The modern woman of today is free and may choose an occupation of their choice without much restraint.

Entrepreneurial Finance Course Essay Example for Free

Entrepreneurial Finance Course Essay ICampus: download case study + 6 questions (9am to 6pm end) Doyen A015 to A023 : we have the locals: tell him what we want (we have to book the locals) Entrepreneurial finance Different case studies cover the four parts (follow the IPO of Facebook) Project assessment: some toughts on business plan case studies: the knots and cachet tehnologies Introduction All these elements fits together. Business plan has to be written. Not a real predictor for success. People: ask you some questions Deal: as you do for edocs. Introduction Key elements that predict success. * Team : you need good managers Not only a good team but a team that fits with the project * Are you able to defend or create a competitive advantage? Is it special? Are people ready to pay for it? =gt; KEY * You have to know the different steps * How to extract value? You should make money! That’s key. For example: Facebook: out of the market in 5 year? Maybe. Not succeeding on smartphones! Are they ready to make money? Extract money from your customers? * Context * Deals should have the rights incentives. You have to find the right partner who ad value not only funding. * .. People To success you need the right person. For example: cachet technologies: lack of management. Opportunity Market: what is the size of the market? The growth rate? Attractiveness of industry: obvious Customers: Selling price is not a production cost + margin. It’s what your customer is ready to pay. When your able to produce this at a lower cost, you make a margin. What is the cost to acquire a new customer? Important. And how to retain a customer? Difficult or not? Competition: Very good market and customers BUT maybe the competition is very hard. Chance of success will be maybe very low. Pay attention. Graphical tools to understand a business model Sales forecast selling price cost =gt; makes you able to calculate the future cash flow. Usely it is like on the graph. Scenario 1 is what you expect but in real life it’s usely scenario two (more time to make money) or scenario three. When you negotiate you first funding, you know you will need a second round (scenario 2). (Give not to much right in the first round to the funding persons) What’s acceptable? Context * Legality? * Today is not the best market to raise money or to go to an IPO * Today? I believe smartphones is an opportunity. Deals Find the right partner! He may understand what you are doing. Everyone has to understand the terms. * Because you need the right incentives. The two parties have to be comfortable. * .. * .. * The right incentive: the profit of the entrepreneur is in line with the success of the company. He has to share the success of the company. Or to lose all his money in case of not success. * .. Case studies The Knot * We asked us these questions. No one had experience in retail services * Barriers for entry were very low so they need to create a brand. * .. * Internet was a very fast growing market. * 1997: a lot of venture capitalist were very active to spend their money on internet. Today? Two sectors. Biotechnology (here in LLN! ) amp; Green energy? (funding comes more from state etc. ) amp; applications on smart phones. * Basic principle: the source of value is cash flow! What is the capacity of this company to generate cash flow! You cannot value a company when you say we will have 1 million customers. Like Facebook 100 billion Where comes the value from? Not from the cash flow they are making today. They make 1 billion cash flow today You want to pay 100 times this They want to raise 10 billion in their IPO (22-28 â‚ ¬ per share) It could make sense if they will made a cash flow of 15 billion/year. Is Facebook capable? If you want to speculate, cash flow does not matter. But if you want to invest, look at the cash flows. (here, in the course, we think investors) Types of securities: the entrepreneur needs to share to company success. It’s like an option. Preferred convertible. Founder: 100 VC: 100 If lt;100 all the money goes to the VC (they protect themselves) * Or you failed: the VC takes all te money and sell your company Or you succeed and the VC helps you with your IPO. There is not really a situation between the two. Cachet Technologies Main question: do we continue the project? Dilemma: Two options:

Leadership Skills of Paul of Tarsus

Leadership Skills of Paul of Tarsus Carmel Gittens In the light of Romans, 1 Corinthians and Galatians, what sources of authority does Paul draw on to reinforce his case and what can be learned from the apostle in this respect for contemporary church leadership? Following his conversion on the road to Damascus, where Paul of Tarsus, one time persecutor of the followers of Jesus met with the risen Lord, he became the greatest defender of the newly forming Christian faith. His zeal and fervour once so attuned to ridding the world of this perceived threat to Judaism now turned to promoting the same. However, such was his dramatic and life changing meeting with Jesus, that Paul not only devoted his life to growing and nurturing early Christian churches, and spreading the gospel across the Mediterranean and beyond, but was willing to endure persecution and indeed martyrdom himself in the pursuit of his divine mission. It is widely held that Paul was uniquely equipped for this mission as he had many of the qualities needed for such an enormous task. In this essay, I will look at Pauls journey from persecutor to proselyte, a journey that took him many thousands of miles and one that required him to assert his message with conviction and authority. Paul would have to defend his teachings and the gospel he proclaimed in many varied and often difficult situations. To do this he used a variety of sources, for example, when Paul defends his apostolic status or challenges lax moral behaviour or advocates his gospel message he draws on his conversion experience, the Hebrew Scriptures, his finely honed and excellent rhetorical skill, and subsequent force of argument, to strengthen his case. Finally, I will look at how his leadership skills and methods may give us an insight into contemporary church leadership today. Let us first look at Pauls apostolic authority. There is no doubt that Paul claimed to be an apostle, and he certainly exercised authority, but when he did would he have claimed this to be as an apostle? He would not particularly have claimed that his authority came from his appointment as an apostle, but there are times when in defending his status he does assert his apostolic position. In the first two chapters of Galatians and in the letters to Corinth Paul hotly defends the position of being an apostle. In Galatians, some had argued that because he was not one of the original apostles appointed by Jesus he is somehow inferior to them, but more importantly as inferior to Peter. Of course, this is at the heart of the debate over apostleship. Pauls response to this was furious, he was furious with the old teachers who questioned his authority and tried to tie up the Christians with the old laws. But he was even more furious with the Christians for succumbing to their intimidation. Paul begins his letter with a strong and clear account of how his commission is not by vote of man, but God given. He continues to state how once James, Peter and John have recognised this they shake hands with him and Barnabus and assign them to a ministry with the non-Jews, while they continue with the Jews. He is stating here also that even as he rebukes Peter for certain practices that he thinks are out of line, Peter recognises his authority and equality with himself. In 1 Corinthians 9.1; 15.8-11 Paul asserts his right to be included as an apostle. He had after all seen the risen Christ, and the mission work he was doing with the Corinthians attested to his position (1 Cor.9.1-2) Am I not free? Am I not an apostle? Have I not seen Jesus our Lord? Are you not the result of my work in the Lord?2 Even though I may not be an apostle to others, surely I am to you! For you are the seal of my apostleship in the Lord. But this claim is not one that Paul constantly refers to. He actually only claims to be an apostle in Romans, 1 and 2 Corinthians and Galatians. In both Corinth and Galatia some denied that he was an apostle so it is here in his letters to them that he launches his defence. But in Romans he speaks from the outset as being an apostle perhaps because having never personally visited these churches he wants them to be clear from the outset that the gospel he proclaims is on the same standing and has the same authority behind it as that proclaimed by Peter and the twelve. He does not however have to defend his position as much in Rome as he does in Corinth and Galatia. But rather he gently reminds in Rom 11.13: 13 I am talking to you Gentiles. In as much as I am the apostle to the Gentiles, I take pride in my ministry. It is clear from this that Paul only therefore claims his apostleship when this has been called into question by others, and not on the basis that he needs this authority in order to be a witness to the gospel. Pauls self-professed authority comes from God himself via Jesus the Son. Paul claims this has come from his road to Damascus vision of Christ, and as such he believes that he speaks authoritatively as one the Lord trusts. For example, when speaking to the Corinthians on the subject of marriage (1 Cor 7.25) 25 Now about virgins: I have no command from the Lord, but I give a judgment as one who by the Lords mercy is trustworthy. Although he does at times directly speak of the Lords teachings; as when instructing about the proper way for the Lords supper to be celebrated (1Cor 9.14), 23 For I received from the Lord what I also passed on to you: The Lord Jesus, on the night he was betrayed, took bread, he does not regularly use the words of Jesus but claims that his authority comes directly from the Lord e.g.,for building up not tearing down (13.10). Scuhz1 argues that Authority is the interpretation of power and for Paul that power would be the gospel He claims that the thing that makes Paul so authoritative is his ability to interpret the gospel. This act of interpretation unlocks the source of power in the gospel and thereby makes that power accessible to those who respond in trust and obedience to it. Pauls ability to be a vessel of this power to people is what establishes his apostolic authority. Because the gospel has both an initial and ongoing task to accomplish in the community, Pauls authority extends past the initial acceptance of the gospel and well into the intricacies of the communities everyday forms, patterns and practices. His right to speak to the communities he founded arises out of the foundational power which they both have experienced, the gospel that he both mirrors in his life experience and which he preaches. The restraint on apostolic authority has its anchor in the nature and meaning of that same gospel. Power through weakness. No egotistical or authoritarian style for Paul. His authority and leadership are informed, shaped and regulated by the paradoxical content of the gospel he preaches. see I Cor 1:18ff Bibliography Dunn, James D G (ed), The Cambridge Companion to St Paul (Cambridge: CUP, 2003), especially the essays in Part 3. Furnish, Victor Paul, Theology and Ethics in Paul (Nashville: Abingdon, 1968). Longenecker, Richard (ed), The Road from Damascus: The Impact of Pauls Conversion on His Life, Thought, and Ministry (Grand Rapids, Michigan: Eerdmans, 1997). Malherbe, Abraham J, Paul and the Popular Philosophers (Minneapolis: Fortress, 2006). Sampley, J Paul, Walking between the Times: Pauls Moral Reasoning (Minneapolis: Fortress, 1991). Kim, Sayoon, Paul and the New Perspective: Second Thoughts on the Origin of Pauls Gospel (Grand Rapids: Eerdmans, 2002). 1Schà ¼tz, John Howard, Paul and the Anatomy of Apostolic Authority (Cambridge: CUP, 1975).

Evolution of Banking Law Practice

Evolution of Banking Law Practice The society has a general understanding on what a bank is, it is a concept engrained in most peoples mind involving an institution and money. This generally accepted perception simplifies the identification of a bank in the general population. The law, in different jurisdictions around the world has however failed to make substantive definitions of a bank. The difficulty arises due to the difficulty in distinguishing banks from other institutions undertaking financial practices. This ambiguity and the resulting disparity has resulted in different legislations defining a bank in their own context and meaning, the definition of a bank varies subject to the objectives and variations in different financial practices across different Jurisdictions. [1] Halsburys Laws of England defines a banker as: [2]a person or company carrying on the business of receiving moneys, and collecting drafts, for customers subject to the obligation of honouring cheques drawn upon them from time to time by the customers to the extent of the amounts available on their current accounts. The Supreme Court of the United States in the Austen[3] case defined a bank as: A bank is an institution, usually incorporated with power to issue its promissory notes intended to circulate as money (known as bank notes); or to receive the money of others on general deposit, to form a joint fund that shall be used by the institution, for its own benefit, for one or more of the purposes of making temporary loans and discounts; of dealing in notes, foreign and domestic bills of exchange, coin, bullion, credits, and the remission of money; or with both these powers, and with the privileges, in addition to these basic powers, of receiving special deposits and making collections for the holders of negotiable paper, if the institution sees fit to engage in such business. In the Uniform Commercial Code,[4]a bank is defined as a person engaged in the business of banking, including a savings bank, savings and loan association, credit union, or trust company. The Banking Act of Kenya 1991[5] Defines a Bank as; a company which carries on, or proposes to carry on, banking business in Kenya but does not include the Central Bank of Kenya. The definition is interesting. By excluding the Central Bank of Kenya 1984[6], it has given the CBK autonomy to be governed by the Central Bank of Kenya Act, the exemption aims to ease the objectives of the bank as the central regulating body in the country It further defines banking business as; the accepting from members of the public of money on deposit repayable on demand or at the expiry of a fixed period or after notice; the accepting from members of the public of money on current account and payment on and acceptance of cheques; and the employing of money held on deposit or on current account, or any part of the money, by lending, investment or in any other manner for the account and at the risk of the person so employing the money. It is apparent that there are similarities in the definition of a Bank and in commonwealth countries and other jurisdictions. Accepting of deposits, holing current accounts and the use of the depositors money for investment give a general and basic understanding of what a bank is. Under common law the earliest attempt to define a bank was made in the landmark case of United Dominion Trust v Kirkwood[7]. The case involved the defendant who was the managing director of a company that financed the purchase of cars through loans from the plaintiff. The defendants argued that the plaintiff was not registered under the Money lenders Act 1900 and 1927, and so were not entitled to recover the money or enforce the security of the loans. The plaintiffs claimed that as bankers they were exempted from the provisions of the money lenders Acts.The Main issue for determination was the status of UDT. Mocatta J held: Words banking and banker may bear different shades of meaning at different periods of history and their meaning may not be uniform today, in countries of different habits and of different degrees of civilisation This holding emphasizes that the definition of a bank is a matter of context. On appeal, Lord Denning[8] held in favour of the plaintiffs. He described a bank as; An establishment for the custody of money received from, or on behalf of, its customers. Its essential duty is to pay their drafts on it: its profits arise from the use of money left unemployed by them. Lord Denning defined the characteristics of a bank in accordance with the banking practices: They accept money from, and collect cheques for, their customers and place them to their credit, they honour cheques or orders drawn on them by their customers when presented to payment and debit customers accordingly, they keep current accounts or something of that nature, in their books in which the credit and debits are entered. These guidelines set out by Lord Denning made a profound effect in the banking industry that eventually became accepted principles under common law. It is important to note that banking practices have changed as they are not rigid, and constantly evolve with time and circumstances. The principles laid down by Lord Denning set a foundation for subsequent principles and legislation to be built on. In District Savings Bank Ltd ex parte coe[9]Turner LJ held that a savings bank was not considered to be carrying on a banking business as it did not operate current accounts albeit it provided some banking services. And as such its business differed from ordinary banking practices. In the Re Shields Estate[10],the court emphasized on the use of deposits by customers with the aim of making profit. The essence of trade, or business is not in not essential to be found in the mode of in which it disposes of the money which is deposited with it but by the means in which money belonging to others is received.[11] In the case of Bank of Chettinad Ltd of Colombo v inland Revenue Commissioners of Colombo[12]the privy council said that the test for determining whether a branch of a non-resident bank could itself be described as a bank was whether it: Carried on as its principal business the accepting of deposits of money on current accounts or otherwise, subject to withdrawal by cheque, draft or order. Under UK law, the ability to operate current accounts is essential. It is the material evidence of the link between the bank and a customer. It also forms the foundation basis of the relationship and defines the terms of conduct and practice. Current accounts are also a useful tool for taxation and accountability as they give a detailed record of an individuals financial status and transaction. Contrast can be observed between the definition of a bank under Section 2 of the Banking Act 2009 and the UCC[13], the UCC defines a bank asa person engaged in the business of banking, including a savings bank, savings and loan association, credit union, or trust company. The former defines a Bank as an institution which has permission under Part 4 of the Financial Services and Markets Act 2000 to carry on the regulated activity of accepting deposits (within the meaning of section 22 of that Act, taken with Schedule 2 and any order under section 22). It however lists exception: (a) a building society (within the meaning of section 119 of the Building Societies Act 1986), (b) a credit union within the meaning of section 31 of the Credit Unions Act 1979, or (c) any other class of institution excluded by an order made by the Treasury. A Credit Union is a bank in the United States, unlike in the UK where the Act expressly exempts it. This shows the difficulty in coming up with a uniform definition due to a difference in jurisdiction, policies, laws and banking practices. The sovereignty of country allows it to regulate its borders at its discretion making a unified definition almost impossible. To fully understand the issue, it is prudent to look at the historical approach to banking. The Money Lenders Act 1900 and 1927 provided exemptions to persons who undertook banking business under the Money Lenders Act. It gave ambiguous description of a bank or banker to be any: any person bonafide carrying on the business of Banking.[14]Section 2 of The Bills of Exchange Act 1882 provides the term bank to include: any Body of persons, whether incorporated or not, who carry out the business of Banking Section 2 of the Banking Act 2009 emphasizes on regulation of banking activities relating to accepting deposits (within the meaning of section 22 of that Act, taken with Schedule 2 and any order under section 22. [15]The statutory definition differs from the common school of thought by putting emphasis on a licenced institution. This shows regulation is an integral part in all jurisdictions in todays banking system. A bank as an institution enjoys, a degree protection from the law, section 4 of the Cheques Act 1957 absolves bankers from liability from the true owner when they carry out transactions for a customer who has a defective title. Section 80 of the Bills of Exchange Act 1882 protects the Bank in the event a crossed cheque drawn in good faith and without negligence is paid to the payee. This limited liability facilitates transactions, if banks were held liable for every defective transaction carried out in good faith then the banking business would come to a halt. In summary, a bank can therefore be defined as an institution licensed to collect deposit and perform financial transactions, including honouring cheques, running current accounts, and using deposits to make profit. Banking business The history of Banking business in the UK can be traced back to the 17th Century where Goldsmith bankers who begun to develop basic principles of banks as deposit takers and money-lenders.[16] Banking business is the regulated activities carried out by an institution. These activities have to be regulated in order to protect customers and the financial market. Banking practices are not constant, their definitions differ with time. Competition from other financial institutions has led to the expansion of the scope of banking activities beyond the core objectives of the bank due to the entrance of financial institutions into the market that was originally the preserve of banks.[17] Under common Law definition the courts have established three cardinal principles relating to banking business. Banking business Changes with time, varies with respect to jurisdiction; and Is influenced by public opinion[18].Banking business and practices evolve with time, subject to change in order to meet market requirements and customer demands. Banks must adapt and widen their scope in order to be profitable and stay relevant. In Banbury v Bank of Montreal[19] Lord Parker Held that offering financial advice was not within the scope of the bank at the time, and establishing whether giving financial advice on investments was part of banking business. This was however overruled by Salmon J[20] when he stated: The nature of such a business must in each case been matter of fact, and accordingly, cannot be treated as if it were a matter of pure law. What may have been true of the Bank of Montreal in 1918 is not necessarily true of martins Bank in 1958. In the event of establishment of a banker-client relationship, a duty of care is owed and as such offering financial advice was within the scope of banking business. With time, it was accepted that offering financial advice constituted part of banking business due to the duty of care that arises from the banker-client relationship.[21] With respect to jurisdiction it was held that a financial institution that is regarded as engaging in banking business in one jurisdiction is not necessarily so considered elsewhere.[22] , a financial institution that was recognized in another country did not meet the English requirements for a bank as it did not also carry out the requisite activities within the United Kingdom. According to Irish[23] and Australian[24] authority, an institution that accepts money on deposits from the public for the purpose of relending it carries on banking business, In the absence of current accounts and the chequing system. In contrast, running current accounts is an essential feature of banking business in the United Kingdom and other common law jurisdictions[25]. Reputation also has influenced determining an institutions status as a bank, an institution that is generally known as a bank will carry the assumption that it is engaged in banking business. In the case of United Dominion Trust v Kirkwood[26] although the evidence shown did not prove that UDT was operations were in the current banking practices, Harman L.J in his dissenting judgement stated that the evidence of its reputation of carrying on the business of banking in London was not sufficient. Lord Diplock and Lord Denning took a different policy based approach they held that a reasonably minded commercial mans perception and acknowledgement of an institutions banking practice is acceptable. Furthermore, if a city perceived an institution as a bank, it enjoyed certain privileges that came with the title The regulation of banking business has been a widely-accepted principle in most Jurisdictions. Historically there was little Legislative control of the banking sector in the UK, the substantive piece of legislation in place at the time was section 4 of the Banking Act 1946: Which gave the Bank authority in the interest of the public to acquire information and make recommendations to bankers and with the authorisation of the treasury give directions to bankers. This however changed with the enactment of the Banking Act 1979 and 1987, the new laws introduced regulation of deposit-taking institutions that had to obtain Authorization to Operate. The permission to operate regulated activities under Section 22 of the Financial Services and Markets Act 2000 is obtained through part IV of the Act. Section 3 of the Banking Act 1987 prohibited deposit taking by a business without express authorization from the Bank of England. This section is integral in the UK banking as it introduced an authoritative supervisory role over banks carrying out activities within the meaning of banking business. There was little[27] supervisory powers conferred on the Bank of England during this time and the bank justified the success of the London Banking business as a financial hub due to the freedom and flexibility provided in the UK banking sector[28] The Banking Act of 1987 was eventually repealed and the Financial Services and Markets Act 2000 through section 22 and Schedule two required institutions undertaking banking business, including deposit taking to obtain authorization beforehand. The First Banking directive by the EU under Article 3 provided that[29]:Member States shall require credit institutions subject to this Directive to obtain authorization before commencing their activities. This Directive influenced the enactment of the Banking Act 1979 and adoption of some of the restrictive measures under section 3 of the Act, these included the need for authorisation before accepting deposits from clients. The same applies in civil Jurisdictions, in Switzerland, Article 3 (1) of the Federal Act on Banks 1934 and Savings Banks of Switzerland states; Banks are required to obtain a licence from the Banking Commission prior to engaging in business operations; they may not register with the Register of Commerce before such licence has been granted. However, per Elinger,[30] entities in the United Kingdom do not require a license to engage in banking business. I disagree with this view as the Financial Services and Markets Act 2000 Lists regulated activities which constitute banking business in todays time. Entities that intend to carry out these activities must obtain permission beforehand. Permission is a license or liberty to do something synonymous to authorization[31]. It is an accepted practice in civil and common law jurisdictions for entities engaging in banking activities to obtain a licence from the relevant authority. The license is essential as it ensure banks operate in acceptable standards. Regulation protects both banker and customer interests. The protection gives depositors confidence to deposit their money for safe keeping and investments among other financial services. Regulation of banks in the UK has a come a long way and in the wake of the global financial crisis of 2007-2008.The Prudential Regulation Authority was established as part of the Bank of England through the Financial Services Act 2012 whose primary objective is promote the safety and soundness of the firms it protects.[32] The supervisory role has become a popular feature in most countries after the global financial crisis. Other countries such as the United States that are plagued with financial crisis adopted an independent supervisory approach to monitor its financial institutions. The Sarbanes-Oaxley Act 2002 was introduced in the wake of the Enron scandal. The Act introduced mandatory supervision by independent external auditors. Some scholars have argued that independent supervision is better as political factors and lobbyist cannot influence it. Others claim that the method is expensive and ineffective in third world countries.[33] Regulation and supervision is important as it creates a sense of stability and protects the banks and the depositors. The Global financial crisis of 2008 is a testament of what happens when banks overreach. Banker-Client Relationship The contractual relationship between bankers and customers is a complex one founded originally upon the customs and usages of bankers. The courts acknowledge these norms and as such they are recognized as implied conditions[34]. The relationship can arise out of implied or express conditions. Implied conditions are established through statutory and judicial instruments. Express conditions arise out of the law of contracts. As with Bank and Banking Business there is no definitive definition of the term customer. The Financial Services and Markets Act 2000[35] defines a customer in relation to an authorized person, means a person who is using, or who is or may be contemplating using, any of the services provided by the authorized person which is a bank within the meaning of the Act. The definition refers to a relationship arising out of services provided by a bank to its customer. This is a key component to its definition as it was described in the case of Commissioner of Taxation v. English, Scottish and Australian Bank Ltd.[36]A case involving the theft of a cheque payable to the Commissioner of Taxes, paid into an account with the defendants bank. Lord Dunedin[37] stated that the word customer signifies a relationship in which duration is not of the essence. A person whose money has been accepted by a bank on the footing that they undertake to honor cheques up to the amount standing is a customer of the bank irrespective of whether his connection is of short or long standing. The contract is not between a habituà © and a new comer, but between a person whom the bank performs a casual service, such as for instance, cashing a cheque for a person introduced by one of their customers, and a person who has an account of his own at the bank. The opening of an account expressly establishes a banker customer relationship. The transaction involves contractual obligations and as such governed by contract law. Like any other contract, specific conditions must be met for a contract to be valid, one of them being the willingness to enter a legally binding agreement. The question that rises is whether a banker customer relationship can be established through fraudulent means.   In the case of Marfani Co. Ltd v Midland Bank Ltd[38] the court of Appeal held that a relationship cannot arise if the account was opened by a fraudster who had no intention of getting into Banker-Customer relationship. In Stoney Stanton supplies (Coventry) Ltd v Midland Bank Ltd[39] In which a A forged the signature of B Ltds directors in order to open an account in the companys name, it was held that no banker customer-relationship existed between B Ltd and the bank[40]. Analysis of these findings from a contractual point of view shows that a relationship did not exist from the beginning, a contract is voidable if one of the parties does not intend to enter the agreement, or if it a misrepresentation occurred. In summation, the same principles that govern the validity of a contract apply to the establishment of a banker customer relationship through opening of an account. The landmark case that set the precedence in the nature of a banker customer relationship is Folley v Hill Others[41]. Where a customer opened an account, and deposited 6,117 pounds with an agreement that it would attract an annual interest. After 3 years, no interest was credited and the customer brought an action against the bank to recover all sums owed to him on the grounds that he was either a beneficiary of a trust or the banks principal. The house of Lords refuted this claim and stated that the relationship that arises out of this transaction, is one of a debtor-creditor relationship with an added obligation to repay the money upon demand, and the best course of action would be to instate debt recovery proceedings under common law. Lord Cottenham said;[42] The money paid into the bankers, is money known by the principal to be placed there for the purpose of being under the control of the banker; it is then the bankers money; he is known to deal with it as his own; he makes what profit he can, which profit he retains to himself. He went on to say that the bank had to repay to the principal, when demanded, a sum equivalent to that paid into his hands. Several important factors can be discerned from this judgement. Firstly, there is a shift of possession when money is deposited to the banker in a current account. The customer lends a certain amount of funds to the banker, that is to be refunded upon demand. The banker can then use the money in whatever means and has no obligation to account for his transactions. Secondly the nature of the relationship differs with different circumstances As Lord Brougham took this into account and stated:[43] It is a totally different thing if we are to take into consideration certain acts that are often performed by a banker, and which put him in a totally different capacity, for he may, in addition to his position of banker, make himself an agent or a trustee towards a cestui que trust. In todays banking practices the scope of the banking business has widened with time. Customers deposit valuable items for safe keeping with banks, a bailment relationship arises where the bank is a bailer and the customer is a bailee, in this situation, a banker has no authority to use the items kept in his care for his own use. This situation can be contrasted with the debtor-creditor relationship discussed above, there is fundamental difference in circumstances. Another example is with standing orders, when a customer instructs his bank to make payments to a third party, an agency relationship arises with the client as the principal and the banker as the agent. The Banker Customer relationship gives rise to fiduciary duties. Fiduciary relationships arise when a party places trust in and relies on the other because he or she is reasonably entitled to do so in the circumstances, or because the reliant party is in a position of vulnerability, subordination or information inequality.[44] This vulnerability Gives rise to the duty of Loyalty. A customer expects a bank to prioritize their interests and avoid situations that invite a conflict of interest. As the saying goes, a customer always comes first. This happened in Woods v Martins Bank Limited[45] where the bank advised one of its clients to invest in one of the banks customers facing financial difficulties. The bank may have unconscionably shifted a bad risk from itself to the customer who provided the security or guarantee[46] In Bristol v West Building Society v Mothew[47] a case that involved a solicitor who represented the building society and the borrower and failed to inform the building society that the borrower had secured a second mortgage on the property. Millet LJ defined the nature and role of a fiduciary by stating[48] A fiduciary is someone who has undertaken to act on or on behalf of another in a particular matter in circumstances which give rise to a relationship of trust and confidence. The distinguishing obligation of a fiduciary is the obligation of loyalty. .A fiduciary must act in good faith; he must not make profit out of his trust; he may not act for his own benefit or the benefit of a third person without the informed consent of his principal. This definition is concise and touches on the defining characteristics of a fiduciary relationship. A bank must exercise his activities on behalf of the customer in good faith with the clients best interest. This obligation under common law is intended to protect customers who are not cognisant with banking transactions and investments. In the absence of it, customers would be prone to manipulation. In the event of a breach of a fiduciary duty, a customer may claim a breach of duty of care. Such an implication can arise either at common law or by virtue section 13 of the Supply of Goods and services Act 1982 which states that within the ordinary course of business the supplier will carry out the service with reasonable care and skill.[49] The confidential nature of a Banker-Client relationship is a traditionally known concept. The same is seen today in caveats in correspondence between Banks and Clients. In Tournier v.National Provincial and Union Bank of England,[50]a bank manager disclosed the gambling habits of one of its clients to his employers that eventually led to the termination of his employment. The Plaintiff brought an action for breach of the duty confidentiality. The court held that the bank owes a duty of secrecy to the customer. Atkin LJ particularly said the duty of secrecy must extend to at least to all the transactions that go through the account and that duty extended beyond the period when an account was closed or ceases to be an active account. This duty however comes into conflict with the duty to disclose to the public. The banks have a duty to disclose information on accounts that are involved in illegal transactions and against public interest and peace. The three panel Judge was unanimous in this conclusion. Bankes LJ[51] said that danger to the state or duty to the public may supersede the duty of the Agent to his principal. Scrutton LJ[52] added on this by saying a bank may disclose the customers account and affairs to prevent frauds and crimes and finally Atkin LJ[53] summed it up by stating that the right to disclose exists to the extent to which it is reasonably necessary for protecting the Bank, or persons interested, or the public, against fraud of crime. Conclusion The definition of Banks and Banking practices has proved to be elusive for some time. Similarities can be made with the law with the acceptance that banking practices are as Dynamic as the laws that govern them. A definitive approach is not necessary. Bankers and legislators should refine and improve on practices in a progressive manner. Strict compliance to regulation is essential to maintain a healthy financial market and avoid scandals arising from banking malpractice. Table of Statu