Main denominations or sects of Hinduism

Main denominations or sects of Hinduism

Hinduism

Contents

TOC o “1-3” h z u Beliefs PAGEREF _Toc381000106 h 1Ethics PAGEREF _Toc381000107 h 2Rites and rituals PAGEREF _Toc381000108 h 2

Hinduism is among the world’s oldest religion that has no beginning it was there before recorded history. Unlike most other religions, it cannot be linked to a single founder as it is formed from diverse traditions. It is a predominant religion in the Indian subcontinent and is one of its indigenous religions (Sen, 2005) Due to the fact that it cannot be clearly defined and does not have rigid guidelines various forms of religious expressions coexist in Hinduism. It is actually a way of life since there are no set customs or rituals that make a person a Hindu if followed. It has four main denominations or sects which are saivism, Shaktism, vaishnavism and smartism.

BeliefsWithin Hinduism there is the belief of a supreme God whose qualities are represented by deities which emanate from him. The Supreme Being is all-pervasive that is both immanent and transcendent and is also the creator and unmanifest reality (Kumar, 2003.)

In Hinduism there is also the belief in karma the law of cause and effect. This belief is based on the fact that every individual has a way of creating their own destiny by his thoughts, words and deeds. It governs the fact that life exists in a cycle from birth, death and rebirth.

There is also the belief of reincarnation of the soul that evolves through many births until all karmas have been resolved and the liberation from rebirths cycle has been attained. This means that death of the body does not mean everything is over since there is continuity of life. Each incarnation depends on how the previous life was lived (Kumar, 2003.)No single soul will be deprived of his destiny. There is also the belief in upholding righteousness in material and spiritual affairs, they believe in the existence of a natural moral code that ensures justice for all when followed diligently. Hindus believe that all life is sacred since all creatures are a manifestation of the Supreme Being. Life should therefore be loved and reserved.

Hindus recognize three paths to salvation, the first is through work. Its emphasis is that one can get salvation when they do their duties and hence escape the weight of bad karma. The second way of attaining salvation is through deep medidation.the third way is through devotion. This requires the longing for a more emotional and personal approach to religion. It involves self-surrender to one of the many gods and goddesses in Hinduism (Kumar, 2003.)

EthicsThe medical ethics in Hinduism rise from the principle of non violence.hinduism advocates for making choices that do not cause harm. Abortion is one of the unacceptable deeds in Hinduism since it can cause harm to a mother, foetus, father and the society at large. The doctrine of reincarnation forma another basis against abortion since killing of the foetus causes a major karmic setback to it. Since it is deprived the opportunity its potential human existence would have given it to earn good karma and is immediately returned to the cycle.hinduism is against suicide since they view it as assisting death and this brings about bad karma since it violates the non violence principle.hinduism includes teachings that condemn violence and war and promote moral duty through teaching(Hebbar,2009) Hinduism also opposes capital punishment since it is not in line with the non-violence code of Hinduism.

Rites and ritualsAt birth there are baby rites that are performed to the baby. This are performed to welcome the baby to family. It involves placing honey in the baby’s mouth and whispering the name of God into his ear. There are also precise details and rituals that are performed in a wedding ceremony. There are also sacraments involved at that time of the wedding.

The whole essence of Hinduism is difficult to grasp since there are varied thoughts and concepts or lack of set rules governing the religion. The uniqueness of Hinduism and the fundamental concept is that it accepts all religions as being true and can lead one to salvation. It also acknowledges that there is no one path that can unveil the divine intervention in all humans. It is an evolving religion that is constantly influenced by various thoughts, ideas and cultures that requires humans to lead lives that seek knowledge and truth hence they attain true enlightening.

ReferencesShattuck, C. T. (1999). Hinduism. London: Routledge.

Sen, K. M. (2005). Hinduism. London: Penguin. (Chapter1 and 2)

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Hebbar, N. (2009). Ethics of Hinduism

Kumar, V. (2003.). Hinduism Beliefs Major Facts about Hinduism. Retrieved October 15, 2012, from http://www.godrealized.com/hinduism_beliefs.htmlPustak ,M (2006).The Philosophy of Hinduism : Four Objectives of Human Life ; Dharma (Right Conduct), Artha (Right Wealth), Kama (Right Desire), Moksha (Right Exit (Liberation) ISBN 81-223-0945-3Bottom of Form

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Introduction of the religion

Introduction of the religion

Hinduism

Student’s Name

Affiliation

Course

Date

Introduction of the religion

Hinduism is known to be the world’s oldest and the 3rd largest religion. Christianity is the first followed by Islamic and then Hinduism. Hinduism in India is the main religion with approximately 84% of the general population. The term Hinduism originated from a Persia word that meant a river in the north India (Sindhu). However, it is difficult to allocate the exact source of Hinduism. It is marinated that its timeless pronouncement about a religion has always existed though historians say that it originated from prehistoric Valley of Indus. Hinduism is called as Sanatan Dharma signifying the undying religion. Hindus believe in a ultimate God whose personalities are characterized by divinities that originate from him. The Supreme Being is imminent and magnificent as well the creator and invisible reality (Kumar, 2003.) Hindus believe in karma the law of effect and cause, and this belief is based on the fact that each individual has a method of creating his own fate by his thoughts, words and deeds.

Hinduism has four major divisions of denomination such as shaivism- this is the oldest sect of Hinduism comprising of followers known as Saivas. Smartism- it can be determined as a denomination of Hindu religion. Smarta means adherents who follow Vedas. Shaktism- this is a value that focus on ultimate Godhead. Vaishnvism- it is differentiated from other denominations by mode of worship. The central Hindu scriptures are the Brahmanas, Sruti, the Upanishads, and epics, Smriti, the Vedas, and the Puranas (Zaehner, 1962). The Sruti are such as intensely spiritual things correspond to a seer and evidence. Hindus recognize three paths to salvation, the first is through work. Its emphasis is that one can get salvation when they do their duties and hence escape the weight of bad karma. The second way of attaining salvation is through deep mediation. The third way is through devotion. This requires the desire for an additional emotional and personal move towards to religion. It involves self-surrender to one of the many gods and goddesses in Hinduism (Kumar, 2003). It rules the idea that life exists in a cycle from birth to death and to rebirth.

Hindus religion is based on the notion that animal and human spirits return to earth to live various times in diverse forms. Hindus think that a person moves up and down a chain of command on the basis of performance. Hindus believe that for a person to be born into the superior class must have done performed well in his/her past life whereas for a person to be born poor must have poorly performed in his/her previous life. Central to Hinduism are the notion of recreation, the background system, finding morality, integration with Brahman, and attaining Nirvana (Min, 2010). The paths to deliverance in Hinduism consist of loyalties, rituals and the way to understanding of reality and self-reflection. When the practitioner follows the paths, one will attain salvation. Unlike most other religions, it cannot be linked to a single founder as it is formed from diverse traditions. It is a predominant religion in the Indian subcontinent and is one of its indigenous religions (Sen, 2005). Due to the fact that it cannot be clearly defined and does not have rigid guidelines various forms of religious expressions coexist in Hinduism. It is actually a way of life since there are no set customs or rituals that make a person a Hindu if followed.

The medical ethics in Hinduism rise from the principle of non violence. Hinduism advocates for making choices that do not cause harm. Abortion is one of the unacceptable deeds in Hinduism since it can cause harm to a mother, fetus, father and the society at large. The doctrine of reincarnation form another basis against abortion since killing of the foetus causes a major karmic setback to it. Since it is deprived the opportunity its potential human existence would have given it to earn good karma and is immediately returned to the cycle. Hinduism is against suicide since they view it as assisting death and this brings about bad karma since it violates the non violence principle. Hinduism includes teachings that condemn violence and war and promote moral duty through teaching (Hebbar, 2009) Hinduism also opposes capital punishment since it is not in line with the non-violence code of Hinduism.

Location and review of the physical site

I travelled to Vancouver BC where there is a large population of Hindu community and Interviewed several and learned about their religion. They are welcoming and ready to help since they believe in doing well to everyone. I then went to Houston to visit their temple. Here I visited a temple situated in Brandt Street of United States of America.

Experiences of worship place

In this place of worship I was asked to take of my shoes as everyone else and when I entered I noticed all type of food but there was no meat. Hindus are vegetarian and believe that when you kill an animal you might be killing one of your relatives who came back after death inform of an animal. Then there are several book and tapes sold in the lobby which contain Sanskrit (Min, 2010). The women and men worship in different rooms. They do their worship differently men guided by the Guru, if a woman touches a Guru she should fast for 24hours.

What did you observe and experience?

Their mode of worship is different from the normal way. For instance, they lay down like push up and stand up again and go down many time as they are chanting. From there was a different building and here I was served with rice with pine nuts, pita bread and chapattis. It was a great experience to be treated with kindness and attention. Below are the questions I made to ask from them.

Interview summary

Who is or are the founders of your religion? And why did they create this religion?

Hinduism is not credited to a particular founder. The religion was created to break the cycle of birth, death and reincarnation, and to get salvation.

Where do you worship and how often do you visit your house of worship?

Hindus worship in Temples and for Orthodox schools prescribe three prayer times a day: at dawn, noon and dusk.

Do you find it difficult to live and practice according to your religion here in America?

In America, one can practice Hindu and anywhere else. This is because Hindus believe good deeds and moral behaviors is being a Hindu believer. Having a family, parents teach their children at home about the religion. They celebrate all the religious ceremonies which are celebrated in India. When one does the basic things, like looking after the family, the friends, and those around you, that’s the best way to worship God.

What social problems have you encountered if any in regards to your faith here in the US?

Non Hindus think of Indians as having many gods. However, Hinduism is not polytheistic, it’s monotheistic. It’s just that God is being viewed in different ways. We believe God has no form; you can view God in many different ways.

What is your holy scripture called and is it available to everyone?

The holy scriptures are Puranas, Vedas, Gita, and Upanishad. It is available to everyone.

What are your views on how others practice their religion? Specifically does your religion preach to people of other faiths?

The Hindus Follow dharma thus do righteousness, is their eternal law. The only people interested in Hindus faith can listen but normally they use their language. People admire to do meditation and yoga learned from Hindus.

What is your view on marriage outside of Hindus faith?

The family of the woman finds a man for her. Hindu believes that marriage brings two persons to pursue dharma, artha, kamaas well as moksa .the marriage is followed by traditional rituals for consummation. People wear red and gold in this occasion. A man can to marry a single woman but for kings they can marry more than one woman.

What is your view of what happens after death?

When a person dies, he becomes a spirit and is judged to his deeds when he was alive. Then he comes back to each as a different person in different family grounds. When one did good deeds he is born in royal family if he was bad he is born to poor family

How is your body handled after death? Is there specifically burial methods?

 Most Hindus do not bury a dead body. They burn and cremate it. The dead body is cleaned with water from river Ganges and then burned with a slow fire that is considered by the hindus to be the final one. The Hindus perform rituals for 13days since the person died to help the soul to rest and settle. Their children under the age of a year are buried since they are considered to be holy men. We do not use caskets. They believe it is a natural burial.

What learned about practicing the religion from observing people engaged in a ceremony or service?)

At birth there are baby rites that are performed to the baby. This are performed to welcome the baby to family. It involves placing honey in the baby’s mouth and whispering the name of God into his ear. There are also precise details and rituals that are performed in a wedding ceremony. There are also sacraments involved at that time of the wedding. The whole essence of Hinduism is difficult to grasp since there are varied thoughts and concepts or lack of set rules governing the religion. The uniqueness of Hinduism and the fundamental concept is that it accepts all religions as being true and can lead one to salvation. It also acknowledges that there is no one path that can unveil the divine intervention in all humans. It is an evolving religion that is constantly influenced by various thoughts, ideas and cultures that requires humans to lead lives that seek knowledge and truth hence they attain true enlightening. Hinduism has developed into different forms over the years so that it could be able to remain important and meaningful to its people. For example, the Vedic form that was composed of hymn has been transform today inform of Hinduism Musicians. We can be able to state that Hinduism has for decades been on a constant process of change, absorbing and combining various religions and cultures of different people. Thus, it has been noted that Hinduism has developed from array of combination of cultures.

Comparing and contrasting Hinduism and Judaism

This study compares and contrasts the essential principles of Judaism and Hinduism and their religious practices of marriage and death, and how it affects one’s personality (Kurien, 2007). The Jewish origin is based on the narratives found in Hebrew Bible in the Levant. Though, the narratives suggest that the origin of Judaism come from Abraham- a herder who made a covenant with God his son Isaac, Jacob, and Moses and they worship in the synagogues as well as the western wall of the temple in Jerusalem. While Hinduism has no particular founder and they worship in (Mandir) Temple and it its origin is from Indian Subcontinent.

The Hindus are Dependent on school of thought. Their concept of Deity rely on Monism meaning (all is a manifestation of God), or polytheism (many deities managing different aspects of life), Monotheism (one God, perhaps with many manifestation or manifestations) while Judaism Belief in one God and teachings of the tradition, prophets and rabbis. Monists/Smarta considers that only Brahman exists, Pantheists believe all things are God, Monotheistic sects believe God as transcendent and immanent as well as different from others. The Nasadiya Sukta even discovers creation-ex-nihilo. God is the only one True Creator called HaShem—Hebrew for ‘The Name’, or Adonai and He. Is Omnipresent, none existed before him and will exist forever. He goes beyond life and death. God is one and the only holiness. He is beyond human perceptive, he is omnipotent.

Judaism developed into illumination one of the political and social movement. For example, enlighten movements led to the decline of harsh European laws. Jewish identity occurs from interaction of many tribes such as Christians, Canaanite and Hellenistic (Walker& Veigh, 2006). Orthodox- this can be considered as the major divisions. Here men and women are not allowed to sit together in the synagogue. Reform Judaism- it is considered as the liberal branch since individuals determine the fate of the commandments. Hindus consider Vaishnava, Shaivaya, & Shaktism as their major divisions. Jews forbid worship of idols while Hindus allow idol worshipping. Both of them believe the holy one will come back but have different names. Hindus call Him Kalki, the 10th Avatar of Vishnu while the Jews call them the Messiah.

According to Hinduism the contemporary issue facing it is abortion issue. Hindus have no legal framework that stops people from conductions an abortion meaning that is legal to them hence face challenges and opposition from different religions at most Christians. Violation of human rights from discrimination of women in the society is yet another contemporary issue facing Hinduism. Judaism is faced with leadership problem. They cannot be able to share power with their people and at most leads to war.

How does each compare to the Dionysian and Apollonian traditions of the past?  

Dionysian and Apollonian traditions relied on the logic reasoning and passionate understanding but both Judaism and Hinduism depended on the views of the people, but were similar to by nature of wildness shown at initial stages. Both religions have developed and adapted by accepting the nature of the world and its people. For example the have been transforming so that they could remain relevant to the contemporary community. Hinduism had Gnostic features such as magic, and gods while that of the while that of Judaism was the Bible and magic.

Conclusion

All religions are alike in a way, being grateful for life, doing well and respecting others are one of the virtues practiced. However they have their unique differences as well as the people that practice it and the way they do it.

Reference

Min, P. G. (2010). Preserving ethnicity through religion in America: Korean Protestants and

Indian Hindus across generations. New York: New York University Press.

Kurien, P. A. (2007). A Place at the Multicultural Table the Development of an American

Hinduism. Piscataway: Rutgers University Press.

Walker, J., & Veigh, R. M. (2006). Hinduism and Judaism. United States of America: Hodder

Gibson.

Chakravarti, S. S. (1991). Hinduism, a way of life. Delhi: Motilal Banarsidass Publishers

Zaehner, R. C. (1962). Hinduism. London: Oxford University Press.

Shattuck, C. T. (1999). Hinduism. London: Routledge.

Sen, K. M. (2005). Hinduism. London: Penguin. (Chapter1 and 2)

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Part One The Infographic (40 points)

Part One The Infographic (40 points)

Final Project: Pulling It All Together

Infographic Due: March 26rd (On Canvas)

Annotations Due: April 2nd (On Canvas)

Rough Draft Due: April 9th (Paper Copy)

Final Draft Due: April 23rd (Paper Copy)

Part One: The Infographic (40 points)

Choose a broad subject you’re genuinely interested in; e.g., baseball, genetics, skateboarding, polygamy, sheep farming, gangster T.V. shows. It doesn’t need to be a traditionally “academic” discipline.

Look for three quotes from experts and three data points that you can use to acquaint someone with the basics of your subject. A data point is a fact that involves numbers/statistics. To take mafia television shows as an example, data points could include: the pilot episode of the mafia show Boardwalk Empire cost $18 million dollars to make, and one third of all Hong Kong residents have seen John Woo’s triad film A Better Tomorrow. These points help show what a big business gangster media is.

Use this data to create an infographic that serves to introduce someone to your subject. You will be graded on 1) if you use three expert quotes and three data points, 2) if you represent these data points visually, and 3) use of other visual elements we go over in class.

Part Two: The Annotations (0 Points, but They Will Help You A LOT!)

Do some general research on EBSCO and Google to see what more specific questions people are currently debating within the subject you did your infographic on. For example, if you’re interested in gangster T.V. shows, current questions include: why mafia crimes don’t horrify Americans the way serial killings do, racism and misogyny in gangster television shows, how Snowfall compares to previous shows about organized crime, why gangster T.V. shows in China induce nostalgia in their viewers, and why are gangsters so often portrayed as heroes.

When you’ve found a question you think is interesting, run it by Kate.

Do annotations (see below for what that means) for eight sources that will help you answer your question. Four of these sources must be scholarly; the rest can be either credible or scholarly.

Part Three: The Essay (Rough Draft: 40 Points, Final Draft: 200 Points)

Write an 8-10 page, MLA- or APA-style essay arguing the solution to your research question from Part Two. You must use at least eight sources, four of which must be scholarly.

I encourage (but am not requiring you) to use first-person experiences and personal sources (so long as they’re credible) in this essay like you did in your first two essays.

How to Do Annotations

For each source on your topic you must:

Cite the source in MLA format (see the MLA Works Cited sheet in the Essay #2 module)

Write 3-4 sentences briefly summarizing the source, and explaining how you intend to use it in your second essay. You may use first-person.

Give two direct quotes from the source that you think you can use in your essay. You may also give text you want to paraphrase as well.

Rose, Mike. “Blue Collar Brilliance.” They Say/I Say: The Moves that Matter in Academic

Writing. 2nd ed. Eds. Gerald Graff, Kathy Birkenstein, and Russel Durst. W. W. Norton & Co., New York: 2012. Print. Pgs. 243-255.

In this article from 2009, UCLA education professor Mike Rose argues that blue collar jobs in industries like food service and manufacturing are just as intellectually demanding as they are physically exhausting. He uses his mother and uncle (both life-long blue collar workers) as his main examples. His conclusion is that Americans need to stop assuming those who do physical labor are less intelligent/use their brains less than those in other professions. I intend to use a quote from Rose to back up my claim that intellectual burnout is one of the biggest reasons behind the high turnover in the food service industry.

Quote 1: “Like anyone who is effective at physical work, my mother learned to work smart, as she put it, to make every move count. She’d sequence and group tasks: What could she do first, then second, then third as she circled through her station? What tasks could be clustered? She did everything on the fly, and when problems arose—technical or human—she solved them within the flow of work, while taking into account the emotional state of her co-workers. Was the manager in a good mood? Did the cook wake up on the wrong side of the bed? If so, how could she make an extra request or effectively return an order?”Quote 2: “Although writers and scholars have often looked at the working class, they have generally focused on the values such workers exhibit rather than on the thought their work requires—a subtle but pervasive omission. Our cultural iconography promotes the muscled arm, sleeve rolled tight against biceps, but no brightness behind the eye, no image that links hand and brain.”

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The case-based learning solution

The case-based learning solution

Final Topic

Presented by

Institution

Introduction

Knowledge of learning theories is fundamental to all leaders who want to be successful in their businesses. The following is a design of a case-based learning solution for non-learning leaders wanting to understand learning theory. Most people who own businesses have an urge to learn and understand how to effectively manage a business but lack the necessary learning materials and tools. On the other hand, technology has created a lot of impact on every aspect of modern life. Computers are currently used to control every daily operation. The excessive use of technology in all aspects of life has made many people miss some basic educational needs because they have low technology level (Tainio, Lilja & Santalainen, 2003). This case-based learning solution will take care of all people in the society irrespective of their understanding of technology to enable them complete the learning theory course effectively.

The case-based learning solution

Demonstration of theory and practice

A learning organization presents many and diverse methods of gathering and managing knowledge. Most organizations make an assumption on learning theories arguing that the context of what is contained in a learning lesson is connected to the fundamental of the theory (Lane 2001). The outcomes, objectives and goals of learning should be directed towards clear understanding of learning theories. When designing a learning solution for leaders, one should consider several factors. Firstly, the technology level of an individual is of great importance. Not all people are computer literate therefore; the lessons created should use other means of presenting ideas apart from the computer. In most circumstances, MS word and PowerPoint are used for designing most lessons but in cases where the leaders’ technology level is low, hand written charts could serve well. Cognitive learning theory and research gives a better solution on how to design instructions that enhances leader-learning skills. Based on the educational level of the learner, the cognitive learning theory provides a learner with an opportunity to learn something new and the new approaches towards attaining the learning objectives.

Secondly, the learning solution should demonstrate design theory and practice. The lessons should be designed in way that they not only cover the content on the learning theory and design but also focuses on its application. Learning theory in practice enables leaders to demonstrate high levels of understanding and make use of that knowledge in running organizations. The instructor’s goal will be to understand the demands of the topic sand the needs of a learner in order to offer a learning experience that gives the learner an opportunity to excel in life. Education forms the primary method of social progress and reform. The experience acquired in learning has a lot of impact in the social life of a leader and helps to bring about changes in a society. According to Constructivism theory, a learner’s personal understanding comes from the knowledge gained in a learning process facilitated by using appropriate learning activities and good environment (Kim, 2005).

Learning tools

As discussed above, this is the development of a learning program for non-learning leaders wanting to understand learning theories. Various tools aid in the learning process although, the tools used on this context should consider the technology level of learners. Technology forms an important part of the day to day live because it has revolutionized communication and learning patterns. Most learning lessons today are planned and written using high-tech materials introduced in the learning institutions. In addition, the business environment is extremely challenging today and leaders are using the upcoming innovations in making their boosting businesses. This creates a challenge to people who have low education level and are unable to utilize the modern technology. The following learning process will create a solution for such people since appropriate tools will be used in teaching them. To ensure learners get home the taught lessons, various tools such as charts, demonstrations, and video presentations will be used. In cases where MS word and PowerPoint presentation is used, an instructor will be available to guide learners on how to use the computers (Lawrence, 2003).

Outcome

On the other hand, the outcome of the learning process should be substantial and effective to leaders. Learning theories play a great role in shaping the life of leaders in terms of making them realize various opportunities found in the business world. The outcome of the teaching process should give learners enough competence to be able to develop their businesses and people. After learning, leaders should be able to accomplish the following. Firstly, the leader should be in a position to make an observation and learn from it. This process makes use of the skills and knowledge acquired in class to understand various aspects of an organization through observation. Secondly, the learner’s social behavior should change whereby; the environment plays a significant role in the change. Behavior change is measured by performances of individuals through display of learned tasks (Means, 2009).

Length of learning

The length of the learning process depends on the capacity of a leader to understand the theories being taught. Most leaders today whose technology levels are low can attend a learning theory class until they gain whatever they need irrespective of the time taken. The class time for each theory class will be commanded by the understanding level of a leader. In most cases involving non-learning leaders, lessons are determined by the level of understanding. In order to ensure learners achieve the objectives and goals of learning, the following steps are necessary. In addition, learners will be evaluated to determine how well they cope with the learning and highlight learning theories that require more time to teach. Moreover, the instructors will make use of several deliverables that describe how the learning process will be carried out. The participants manual and instructors manual will be designed to assist leaders in learning and save the instructor’s time for explanations. Where slides are used, several examples will be demonstrated to enable learners get every content of the learning theory.

First, only learning theories that are easier to implement will be applied first. Eventually, other theories will be introduced as time goes on. This step encourages and promotes learner’s outcome as they develop more learning skills. Secondly, secondly, the learners’ evaluation will be carried out when the mind is fresh. This should take place probably in the morning hours. The evaluation will assist the instructor in determining theories that worked, those that did not work, and areas needing additional teaching.

Conclusion

Design of a case-based learning solution for non-learning leaders wanting to understand learning theories is a hard task requiring a lot of input and resources. Non-learning leaders possess low levels of education and take long to absorb a point making it difficult to plan their lessons. From the above plan, several factors have been considered in designing the case-based learning solution. These are the intended audience, the level of technology, demonstration of design theory and practice, tools, outcomes, and length of learning.

References

 Kim. (2005). “The Effects of a Constructivist Teaching Approach on Student Academic Achievement, Self-Concept, and Learning Strategies”. Asia Pacific Education Review 6 (1): 7–19.

Lawrence, T. A. (2003). Challenges of Teaching with Technology Across the Curriculum: Issues

and Solutions. London: Information Science.

Leonard, D. C. (2002). Learning theories, A to Z. Westport, Conn.: Oryx Press.

Mearns, J. (2009). Social learning theory. In H. Reis & S. Sprecher (Eds.), Encyclopedia of

human relationships (vol. 3). Thousand Oaks, CA: Sage. pp. 1537-1540.

Tainio, R, Lilja, K., & Santalainen, T. J. (2003). In M. Dierkes, A. Berthoin Antal, J. Child & I.

Nonaka (Eds.), Handbook of organizational leadership and knowledge. New York: Oxford University Press, Inc. pp. 428-445.

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The world economy is influenced by both economic and no-economic factors (Schumpeter, 2017),

The world economy is influenced by both economic and no-economic factors (Schumpeter, 2017),

Finance

Students Name

Institution of Affiliation

Course Title

Date

The world economy is influenced by both economic and no-economic factors (Schumpeter, 2017), and therefore there is a need to keep a check on all the aspects that may affect the growth of the economy. Various non-economic factors are responsible for the increase or the fall of the economy of different countries around the globe. Some of these factors include; war, corruption, political instability, technology, government laws and regulations, education as well as innovations and training.

War is one of the factors that lead to the decline of peace within a nation or even the overall world peace and thus have a direct effect on the growth of the world economy (Duffield, 2014). Peace is deemed to be one of the major factors that encourage investments and as well favors trade between nations. With the disruption of peace, there will be tensions within the globe that will discourage investments and trade as well. Political stability, on the other hand, contributes to peace, and therefore political stability should be encouraged within nations to ensure their prosperity in business and the overall economy (Borner, Brunetti & Weder, 2016).

Corruption is directly related to the decline of the economic growth of a country because the money and resources that are deemed for development are pocketed by individuals, and therefore development is left to lag behind. The slow progress of the country discourages investment leading to low injections to the country’s economy. Technology, on the other hand, influences the mode of production, as well as the provision of services and therefore the more improved the technology, is the easier the production and service delivery.

Government laws and regulations play a significant role in the growth of an economy. Favorable laws and policies attract investments especially when there are subsidies for the provision of services. The development of regulations that favor business such as less taxation encourages investments contributing to higher production and the overall increase in the GDP of the country. Education and training equip the people with the necessary skills for the establishment of businesses. Innovations leads to the development of new technologies as well as the production of new types of goods and services that lead to the satisfaction of people’s needs and therefore for the fulfillment of human needs, creativity and innovation leads to the development of entrepreneurship to which increase the business ventures and the overall GDP of a country (Acs, Szerb, & Lloyd, 2017).

References

Acs, Z. J., Szerb, L., & Lloyd, A. (2017). The global entrepreneurship and development index. In Global Entrepreneurship and Development Index 2017 (pp. 29-53). Springer, Cham.

Borner, S., Brunetti, A., & Weder, B. (2016). Political credibility and economic development. Springer.

Duffield, M. (2014). Global governance and the new wars: the merging of development and security. Zed Books Ltd..

Schumpeter, J. A. (2017). Theory of economic development. Routledge.

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Part One The Infographic (40 points)

Part One The Infographic (40 points)

Final Project: Pulling It All Together

Infographic Due: March 26rd (On Canvas)

Annotations Due: April 2nd (On Canvas)

Rough Draft Due: April 9th (Paper Copy)

Final Draft Due: April 23rd (Paper Copy)

Part One: The Infographic (40 points)

Choose a broad subject you’re genuinely interested in; e.g., baseball, genetics, skateboarding, polygamy, sheep farming, gangster T.V. shows. It doesn’t need to be a traditionally “academic” discipline.

Look for three quotes from experts and three data points that you can use to acquaint someone with the basics of your subject. A data point is a fact that involves numbers/statistics. To take mafia television shows as an example, data points could include: the pilot episode of the mafia show Boardwalk Empire cost $18 million dollars to make, and one third of all Hong Kong residents have seen John Woo’s triad film A Better Tomorrow. These points help show what a big business gangster media is.

Use this data to create an infographic that serves to introduce someone to your subject. You will be graded on 1) if you use three expert quotes and three data points, 2) if you represent these data points visually, and 3) use of other visual elements we go over in class.

Part Two: The Annotations (0 Points, but They Will Help You A LOT!)

Do some general research on EBSCO and Google to see what more specific questions people are currently debating within the subject you did your infographic on. For example, if you’re interested in gangster T.V. shows, current questions include: why mafia crimes don’t horrify Americans the way serial killings do, racism and misogyny in gangster television shows, how Snowfall compares to previous shows about organized crime, why gangster T.V. shows in China induce nostalgia in their viewers, and why are gangsters so often portrayed as heroes.

When you’ve found a question you think is interesting, run it by Kate.

Do annotations (see below for what that means) for eight sources that will help you answer your question. Four of these sources must be scholarly; the rest can be either credible or scholarly.

Part Three: The Essay (Rough Draft: 40 Points, Final Draft: 200 Points)

Write an 8-10 page, MLA- or APA-style essay arguing the solution to your research question from Part Two. You must use at least eight sources, four of which must be scholarly.

I encourage (but am not requiring you) to use first-person experiences and personal sources (so long as they’re credible) in this essay like you did in your first two essays.

How to Do Annotations

For each source on your topic you must:

Cite the source in MLA format (see the MLA Works Cited sheet in the Essay #2 module)

Write 3-4 sentences briefly summarizing the source, and explaining how you intend to use it in your second essay. You may use first-person.

Give two direct quotes from the source that you think you can use in your essay. You may also give text you want to paraphrase as well.

Rose, Mike. “Blue Collar Brilliance.” They Say/I Say: The Moves that Matter in Academic

Writing. 2nd ed. Eds. Gerald Graff, Kathy Birkenstein, and Russel Durst. W. W. Norton & Co., New York: 2012. Print. Pgs. 243-255.

In this article from 2009, UCLA education professor Mike Rose argues that blue collar jobs in industries like food service and manufacturing are just as intellectually demanding as they are physically exhausting. He uses his mother and uncle (both life-long blue collar workers) as his main examples. His conclusion is that Americans need to stop assuming those who do physical labor are less intelligent/use their brains less than those in other professions. I intend to use a quote from Rose to back up my claim that intellectual burnout is one of the biggest reasons behind the high turnover in the food service industry.

Quote 1: “Like anyone who is effective at physical work, my mother learned to work smart, as she put it, to make every move count. She’d sequence and group tasks: What could she do first, then second, then third as she circled through her station? What tasks could be clustered? She did everything on the fly, and when problems arose—technical or human—she solved them within the flow of work, while taking into account the emotional state of her co-workers. Was the manager in a good mood? Did the cook wake up on the wrong side of the bed? If so, how could she make an extra request or effectively return an order?”Quote 2: “Although writers and scholars have often looked at the working class, they have generally focused on the values such workers exhibit rather than on the thought their work requires—a subtle but pervasive omission. Our cultural iconography promotes the muscled arm, sleeve rolled tight against biceps, but no brightness behind the eye, no image that links hand and brain.”

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The case-based learning solution

The case-based learning solution

Final Topic

Presented by

Institution

Introduction

Knowledge of learning theories is fundamental to all leaders who want to be successful in their businesses. The following is a design of a case-based learning solution for non-learning leaders wanting to understand learning theory. Most people who own businesses have an urge to learn and understand how to effectively manage a business but lack the necessary learning materials and tools. On the other hand, technology has created a lot of impact on every aspect of modern life. Computers are currently used to control every daily operation. The excessive use of technology in all aspects of life has made many people miss some basic educational needs because they have low technology level (Tainio, Lilja & Santalainen, 2003). This case-based learning solution will take care of all people in the society irrespective of their understanding of technology to enable them complete the learning theory course effectively.

The case-based learning solution

Demonstration of theory and practice

A learning organization presents many and diverse methods of gathering and managing knowledge. Most organizations make an assumption on learning theories arguing that the context of what is contained in a learning lesson is connected to the fundamental of the theory (Lane 2001). The outcomes, objectives and goals of learning should be directed towards clear understanding of learning theories. When designing a learning solution for leaders, one should consider several factors. Firstly, the technology level of an individual is of great importance. Not all people are computer literate therefore; the lessons created should use other means of presenting ideas apart from the computer. In most circumstances, MS word and PowerPoint are used for designing most lessons but in cases where the leaders’ technology level is low, hand written charts could serve well. Cognitive learning theory and research gives a better solution on how to design instructions that enhances leader-learning skills. Based on the educational level of the learner, the cognitive learning theory provides a learner with an opportunity to learn something new and the new approaches towards attaining the learning objectives.

Secondly, the learning solution should demonstrate design theory and practice. The lessons should be designed in way that they not only cover the content on the learning theory and design but also focuses on its application. Learning theory in practice enables leaders to demonstrate high levels of understanding and make use of that knowledge in running organizations. The instructor’s goal will be to understand the demands of the topic sand the needs of a learner in order to offer a learning experience that gives the learner an opportunity to excel in life. Education forms the primary method of social progress and reform. The experience acquired in learning has a lot of impact in the social life of a leader and helps to bring about changes in a society. According to Constructivism theory, a learner’s personal understanding comes from the knowledge gained in a learning process facilitated by using appropriate learning activities and good environment (Kim, 2005).

Learning tools

As discussed above, this is the development of a learning program for non-learning leaders wanting to understand learning theories. Various tools aid in the learning process although, the tools used on this context should consider the technology level of learners. Technology forms an important part of the day to day live because it has revolutionized communication and learning patterns. Most learning lessons today are planned and written using high-tech materials introduced in the learning institutions. In addition, the business environment is extremely challenging today and leaders are using the upcoming innovations in making their boosting businesses. This creates a challenge to people who have low education level and are unable to utilize the modern technology. The following learning process will create a solution for such people since appropriate tools will be used in teaching them. To ensure learners get home the taught lessons, various tools such as charts, demonstrations, and video presentations will be used. In cases where MS word and PowerPoint presentation is used, an instructor will be available to guide learners on how to use the computers (Lawrence, 2003).

Outcome

On the other hand, the outcome of the learning process should be substantial and effective to leaders. Learning theories play a great role in shaping the life of leaders in terms of making them realize various opportunities found in the business world. The outcome of the teaching process should give learners enough competence to be able to develop their businesses and people. After learning, leaders should be able to accomplish the following. Firstly, the leader should be in a position to make an observation and learn from it. This process makes use of the skills and knowledge acquired in class to understand various aspects of an organization through observation. Secondly, the learner’s social behavior should change whereby; the environment plays a significant role in the change. Behavior change is measured by performances of individuals through display of learned tasks (Means, 2009).

Length of learning

The length of the learning process depends on the capacity of a leader to understand the theories being taught. Most leaders today whose technology levels are low can attend a learning theory class until they gain whatever they need irrespective of the time taken. The class time for each theory class will be commanded by the understanding level of a leader. In most cases involving non-learning leaders, lessons are determined by the level of understanding. In order to ensure learners achieve the objectives and goals of learning, the following steps are necessary. In addition, learners will be evaluated to determine how well they cope with the learning and highlight learning theories that require more time to teach. Moreover, the instructors will make use of several deliverables that describe how the learning process will be carried out. The participants manual and instructors manual will be designed to assist leaders in learning and save the instructor’s time for explanations. Where slides are used, several examples will be demonstrated to enable learners get every content of the learning theory.

First, only learning theories that are easier to implement will be applied first. Eventually, other theories will be introduced as time goes on. This step encourages and promotes learner’s outcome as they develop more learning skills. Secondly, secondly, the learners’ evaluation will be carried out when the mind is fresh. This should take place probably in the morning hours. The evaluation will assist the instructor in determining theories that worked, those that did not work, and areas needing additional teaching.

Conclusion

Design of a case-based learning solution for non-learning leaders wanting to understand learning theories is a hard task requiring a lot of input and resources. Non-learning leaders possess low levels of education and take long to absorb a point making it difficult to plan their lessons. From the above plan, several factors have been considered in designing the case-based learning solution. These are the intended audience, the level of technology, demonstration of design theory and practice, tools, outcomes, and length of learning.

References

 Kim. (2005). “The Effects of a Constructivist Teaching Approach on Student Academic Achievement, Self-Concept, and Learning Strategies”. Asia Pacific Education Review 6 (1): 7–19.

Lawrence, T. A. (2003). Challenges of Teaching with Technology Across the Curriculum: Issues

and Solutions. London: Information Science.

Leonard, D. C. (2002). Learning theories, A to Z. Westport, Conn.: Oryx Press.

Mearns, J. (2009). Social learning theory. In H. Reis & S. Sprecher (Eds.), Encyclopedia of

human relationships (vol. 3). Thousand Oaks, CA: Sage. pp. 1537-1540.

Tainio, R, Lilja, K., & Santalainen, T. J. (2003). In M. Dierkes, A. Berthoin Antal, J. Child & I.

Nonaka (Eds.), Handbook of organizational leadership and knowledge. New York: Oxford University Press, Inc. pp. 428-445.

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The world economy is influenced by both economic and no-economic factors (Schumpeter, 2017),

The world economy is influenced by both economic and no-economic factors (Schumpeter, 2017),

Finance

Students Name

Institution of Affiliation

Course Title

Date

The world economy is influenced by both economic and no-economic factors (Schumpeter, 2017), and therefore there is a need to keep a check on all the aspects that may affect the growth of the economy. Various non-economic factors are responsible for the increase or the fall of the economy of different countries around the globe. Some of these factors include; war, corruption, political instability, technology, government laws and regulations, education as well as innovations and training.

War is one of the factors that lead to the decline of peace within a nation or even the overall world peace and thus have a direct effect on the growth of the world economy (Duffield, 2014). Peace is deemed to be one of the major factors that encourage investments and as well favors trade between nations. With the disruption of peace, there will be tensions within the globe that will discourage investments and trade as well. Political stability, on the other hand, contributes to peace, and therefore political stability should be encouraged within nations to ensure their prosperity in business and the overall economy (Borner, Brunetti & Weder, 2016).

Corruption is directly related to the decline of the economic growth of a country because the money and resources that are deemed for development are pocketed by individuals, and therefore development is left to lag behind. The slow progress of the country discourages investment leading to low injections to the country’s economy. Technology, on the other hand, influences the mode of production, as well as the provision of services and therefore the more improved the technology, is the easier the production and service delivery.

Government laws and regulations play a significant role in the growth of an economy. Favorable laws and policies attract investments especially when there are subsidies for the provision of services. The development of regulations that favor business such as less taxation encourages investments contributing to higher production and the overall increase in the GDP of the country. Education and training equip the people with the necessary skills for the establishment of businesses. Innovations leads to the development of new technologies as well as the production of new types of goods and services that lead to the satisfaction of people’s needs and therefore for the fulfillment of human needs, creativity and innovation leads to the development of entrepreneurship to which increase the business ventures and the overall GDP of a country (Acs, Szerb, & Lloyd, 2017).

References

Acs, Z. J., Szerb, L., & Lloyd, A. (2017). The global entrepreneurship and development index. In Global Entrepreneurship and Development Index 2017 (pp. 29-53). Springer, Cham.

Borner, S., Brunetti, A., & Weder, B. (2016). Political credibility and economic development. Springer.

Duffield, M. (2014). Global governance and the new wars: the merging of development and security. Zed Books Ltd..

Schumpeter, J. A. (2017). Theory of economic development. Routledge.

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This report includes some of the basic principles and conventions that must be adhered to while preparing the financial state

This report includes some of the basic principles and conventions that must be adhered to while preparing the financial state

Financial Accounting

Name

Course

Course Instructor

Date

Table of Contents_______________________________________________________Page

1. Executive Summary…………………………………………………………………….2

2.1 Accrual Accounting……………………………………………………………………2

2.2 Going Concern…………………………………………………………………………3

3. Key Accounting Concepts and Conventions…………………………………………..4

4. Marks & Spencer’s treatment of PPE, Intangible assets and provisions……………5

5. Impact of Impairment on Marks & Spencer’s Finance Performance………………6

6. References………………………………………………………………………………..7

1. Executive Summary

This report includes some of the basic principles and conventions that must be adhered to while preparing the financial statements. It includes analysis and evaluation of some of the accounting practices and conventions. This report also analyses and evaluates some of the accounting practices in Marks & Spencer Plc.

2.1 Accrual Accounting

Accrual concept includes recognition of revenue when earned while expenses are only acknowledged when they are suffered or incurred. This accounting concept needs creation of an extra account that records the variance obtained from the difference between revenue and expenses recognized as well as reception or payments of cash. Accounts receivable is normally used in recording accrued incomes while deferred revenue account is used to record revenue not earned (Banerjee 2005, p. 4-5).

On the other hand, accrued expense account is used in recording expenses before payment of cash while deferred expense account is used in recording expenses after paying cash. This type of accounting concept is very expensive and that it is possible for the account to owe taxes on their income even before the cash is received. In marks & Spencer income is recognized when the products are sent to the customers and important risks and title incentives are shifted to the client. The deferred tax is accounted for after calculating it based on anticipated way of realization. The company also has trade receivables account and trade payables (Banerjee 2005, p. 4-5).

2.2 Going Concern

Going concern is regarded as one of the most important assumptions in accounting used in preparation of final accounts with an assumption that the business will continue to operate in the next foreseeable future. The company is expected to successfully settle their liabilities after realizing their assets. It is always upon the management of the company to check on the ability of the organization to continue doing business in the coming future. The accounts of Marks & Spencer are prepared in the basis of going concern and the directors are convinced that the company will be able to operate in the next future. The directors are very much concerned that there are no uncertainties that may interfere with the company’s operations in their future (Gibson 2012, p.11-12).

The company managed to make a profit of $458 as at March 2013 and positive cash and cash equivalents. The company’s current assets also exceed the current liabilities thus showing an element of going concern. The company is also in a position of paying out her dividends and financing The company will not likely to fail in its operations in the near future considering her statement of financial position and the consolidated income statement (Marks & Spencer 2013, p. 1-3). There are a number of indications of a going concern business which are not reflected in the financial statement of Marks & Spencer. Some of the dangerous signs indicating challenges of going concern are poor liquidity positions, high financial risk and delay in payments as well as serious litigations affecting the company. Marks & Spencer do not also have any indication of defaulting by one of their chief customers that may eventually affect her operations (Gibson 2012, p.11-12).

3. Key Accounting Concepts and Conventions

There are universal ways of presenting accounting information to the relevant parties. These conventions are very useful in doing away with inconsistency that may be experienced while recording accounting data. Relevance is one of the conventions that insist on disclosing only the information that is relevant as far as achievement of the business objective is concerned. Relevancy deals mostly with items whose nature and amount are significant in a way that they can influence the decision making process of the financial statement’s users. The convention may also be referred to as the materiality concept and is very important as it may greatly affect the accounting record and the nature of business (Weil, Schipper & Francis 2013, p. 24-25).

This accounting concept is very vital as it is based on anticipation of loss but not profit. It provides that income must not be overstated while preparing the books of accounts although any loss anticipated must be accounted for. It is important to include some anticipated losses such as discount on debtors, depreciation and creation for doubtful debt. The other convention is full disclosure concept which posits that all important substantial and pertinent facts regarding financial statements must be entirely revealed. Accounting information must be thorough, logical and appropriate. Financial statement should include detailed presentation of accounting information such as investors, accounts receivables, accounts payables and shareholders (Needles, Powers & Crosson 2011, p. 185-190).

Furthermore, there is objectivity concept that states accounting data ought to be measured and articulated by the principles that are globally suitable. Feasibility concept states that the period, labor and cost of investigating accounting data ought to be compared to the profit coming out of it. In addition, consistency convention is another form of accounting concept which implies that accounting standards should be applied while preparing financial statements yearly. This is very important when it comes to comparability of different accounting periods. Similar accounting processes and practices should always be applied constantly in every financial year to facilitate comparability process (Weil, Schipper & Francis 2013, p. 24-25).

4. Marks & Spencer’s treatment of PPE, Intangible assets and provisions

Property, plant and equipment in Marks & Spencer’s costs are recorded at a cost excluding depreciation as well as exclusion of impairment in accordance with conservatism theory. This concept is very important since it avoids overstatement of profit and also recognizes anticipated loss as required. The company does not revalue her property while doing their accounts although assets available as a result of construction are recorded at cost minus impairment cost. Marks & Spencer has a policy of depreciating her noncurrent assets after subtracting residual values Marks & Spencer 2013, p. 2-6). The organization do not depreciate her freehold land but the freehold and leasehold buildings whose remaining lease term is more than 50 years are depreciated by taking residual value and dividing by anticipated economic life of the property (Greuning 2009, p. 92-100).

However, the leasehold building with period below 50 years are normally depreciated as per the outstanding time of lease. Equipment, furniture and fitting with between 3 and 25 years. Marks & Spencer usually ensure that they review their policy of impairing property, plant and equipment if there are some instances that prove that the carrying amount cannot be recovered. This always prompts the management of the company comes up with an amount that ought to be recovered basing on conventions and estimations. The depreciation of the property, plant and equipment is normally done in this company in writing down the assets to the remaining value divided by the property plant and Equipment anticipated useful live (Oppermann 2008, p. 64-70).

5. Impact of Impairment on Marks & Spencer’s Finance Performance.

In the previous year Marks & Spencer impaired the carrying amount of Marinopolous B.V goodwill and other stores in Greek whose branches make do not make profit to show the value that can be recovered and the net book value. Impairment has several impacts on the financial position of various businesses and therefore should be taken seriously. Any loss for an asset due to impairment should be charged on the asset in question and further disclose the notes of impairment to the financial statements stating the assets and reasons for the action (Robinson 2012, p. 512-516).

Impairment loss and write offs of an asset is likely to reduce both the net income as well as the non-current asset’s value. The reduction of income statement through charging the impairment loss has an effect of reducing the shareholders’ equity and eventually lowering debt to equity as debt to asset goes high. It is also likely that Marks & Spencer’s expected net income may go high because the value of the asset must have been reduced through impairment loss. The total impairment for the year ended 31 March 2013 for the Marks & Spencer company was £m 44.9 (marks & Spencer 2013, p. 17-19). This means that the income was reduced by £m44.9 and the value of assets were also decreased by the same value. Eventually the effect of impairment would mean that income is not overstated but expenses are recognized as anticipated.

References

Banerjee, A 2005, Financial Accounting: A Mangerial Emphasis, [S.L.], Excel.

Gibson, Charles H 2012, Financial Reporting and Analysis + Thomsonone Printed Access Card South-Western Pub.

Greuning, V 2009, International Financial Reporting Standards: A Practical Guide, Washington (D.C.), World Bank.

Marks & Spencer, 2013, Notes to the financial statements, retrieved 27 August 2013, <http://annualreport.marksandspencer.com/docs/MS_AR2013_p82-109_NotestoFS.pdf>.Needles, Powers, & Crosson, V 2011, Principles of Accounting, Mason, Ohio, Cengage Learning.Oppermann, B 2008, Accounting Standards in Brief, Lansdowne [South Africa], Juta.Robinson, R 2012, International financial statement analysis, Hoboken, N.J, John Wiley & Sons.

Weil, L., Schipper, K., & Francis, J 2013, Financial accounting: an introduction to concepts, methods, and uses, Mason, Ohio, South-Western.

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RSW1126-04

RSW1126-04

Fintech Set Up

Student’s Name

Course Code and Number

Instructor’s Name

Date of Submission

Executive summary

The latest advancements and quick expansion of new banking and finance by financial technology (Fintech) businesses has compelled financial institutions to pursue operational innovation to maintain a sustainable competitive edge in their respective industries. They are often non-financial organizations that offer cutting-edge financial services to their clients. The purpose of this paper is set up an autonomous division of a multinational bank that will compete in the disruptive Fintech revolution. From a managerial standpoint, the paper will critically assess different concepts that are essential to make the autonomous division successful.

Introduction

Fintech, a hybrid concept that integrates the words “finance” and “technology,” refers to the combination of finance with developing technologies like artificial intelligence (AI), cloud computing, big data, among other things. User-friendly financial services like mobile money services, crowdsourcing, peer-to-peer lending and borrowing, insurance, and management of wealth are made available as a result of this pairing. Rapid progress in information technology, along with the subprime crisis of 2008, produced a protracted worldwide economic slump. Because of this, governments throughout the globe are aggressively supporting the adoption of a new financial paradigm, which has led in the formation of a slew of Fintech businesses with examples of firms such as JD Finance, Kabbage, Ant Financial, LendingClub, OnDeck, and Apple Pay.

Innovation to Enhance competitiveness

New Customer Interaction

Customers’ participation in value co-creation is emphasized in the new customer interaction, which also highlights that innovation is developed via engagements between financial service providers and the consumers.

New Business Partners

The utilization of associate’s assets and resources by an organisation to create innovative services may be characterized as the creation of new business associates. The notion of co-opetition was presented by Brandenburger and Nalebuff, who underlined that firms that adopt the co-opetition method should integrate one another’s fundamental advantages while competing to establish new opportunities in order to succeed.

New Revenue Models

The development of new revenue models is concerned with the institutional changes that are required to support service innovation. To do this, an effective method to distributing objectives, sharing expenses, and generating profits must be adopted.

Technological Innovation

Financial and technological innovation are intertwined, and the use of new technologies to enhance the effectiveness of financial services while also reducing expenses and controlling risks are at the forefront of technological innovation.

To attain the aforementioned competitive initiatives, there are management aspects that ought to be enhanced such as leadership, human resource management and change management.

Leadership

Fintech technologies provide clients with tailored and interactive services, as well as having progressive-minded executives is a vital success component in achieving success. Organizations that want to take advantage of the digital disruption of financial services require executives that have a progressive attitude and foresight in order to give workable responses to new business issues and opportunities.

Human Resource Management

Emerging requirements and issues concerning the management of human resources in a technological environment have impacted practically every business, but there is a particularly pressing issue in the financial sector. The advent of FinTech pushes human resource managers to sift through the most effective strategies that would welcome innovation while still encouraging employees to strive for personal growth. Furthermore, because technology is at the heart of these organizations, human resources must stay up with contemporary Human resource management practices as well as platforms when it comes to attracting, motivating, and keeping employees. Technology development is one of the most significant new issues in human resource management.

Change management

In the financial business, change management has risen to emerge as among the most significant subjects to discuss. For some years, the market situation for banks and financial firms has been experiencing significant transformation. Organization s in the financial industry face significant problems as a result of the low interest rate environment, increased regulatory requirements, continuous digitization, and the rapid expansion of the fintech industry.

Conclusion

References

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