Entrepreneurship Essay Example | Topics and Well Written Essays - 1000 words - 1

Entrepreneurship - Essay Example The entire process of investigating demand and supply patterns of given product in a given business environment, and establishment of businesses to address the potential and existing demand entails the process of entrepreneurship. Entrepreneurship refers to the act of collecting and incorporating business ideas aimed at achieving purposeful and unique innovation in the production of a given product or service (Carsrud and Malin 7). Innovation in the context of entrepreneurship may result in various advantages such as introducing new or improved product in the market, new production techniques, and identification of newer markets for a product or service as well as identifying new source of supply of raw materials. It is imperative to understand that entrepreneurship is not only about starting of new business organization, but can also involve ideas to improve the state and performance of an existing organization. Importance of Entrepreneurship to America Entrepreneurship is a powerfu l tool for economic growth in any country. It is because of entrepreneurship and presence of globally acclaimed entrepreneurs that the American nation tops the list of world’s best performing economies. ... Since entrepreneurship involves creation and introduction of new ideas, it has helped the development of research and innovation in the American economy. About two out of three innovations in America are as result of entrepreneurship. These innovations have eased production processes while improving the quality of products, accomplishments that have collectively spurred the growth rate of the American economy (Bordogna 13). Since entrepreneurship entails creation of new opportunities, it has empowered and facilitated the development and growth of national wealth (Miller). Income earned by entrepreneurs and their employees has expanded public expenditure as people purchase raw materials and finished products of entrepreneurship, encouraging national production. Bordogna adds that entrepreneurship has helped in providing self sufficiency to the American populace as people can afford and easily find what they need for their consumption (13). Self –sufficiency in the American econ omy also relates to increased local production of goods and services that ensure cheap and affordable prices for goods and services. Characteristics of Successful Entrepreneurs Entrepreneurs are individuals with the brains bearing or capacity to exhibit entrepreneurial skills. Entrepreneurs identify business opportunities, gather and collect ideas that they use to establish businesses or improve state of particular firm. For entrepreneurs to emerge successful in implementing their ideas, they have to exhibit or posses particular characteristics. Unique ambition is one of the defining characteristics required of an entrepreneur. Ambition helps entrepreneurs to face the potential competition in the given industry with aims on achieving the desired goals (Gitman and Carl 14). Entrepreneurs are

Cosmetic Surgery - New Form of Modern Art or Pure Science Essay

Cosmetic Surgery - New Form of Modern Art or Pure Science - Essay Example The essay "Cosmetic Surgery - New Form of Modern Art or Pure Science" analyzes the phenomenon of cosmetic surgery. The issue of cosmetic surgery is probably the most debated within the domain of modern medicine. Within the recent decade it was highly debated not only in the US medical and ethical journals but also on TV and in popular newspapers. One of the most popular theses for such debates is following: is cosmetic surgery an art (as it does not require medical indications for the treatment) or a science (as it is based on profound medical techniques)? Simple â€Å"googling† the Internet gives clear evidence that most surgeons working in this area as well as respective clinics advertise their business as the â€Å"art of plastic / cosmetic surgery† instead of propagating it as a purely scientific and sophisticated activity. Conventionally comparing their business with Pygmalion’s statuary – the mythological Greek sculptor who created his ideal Galatea out of a marble stone – surgeons underline that the ultimate goal of cosmetic surgery is to make people more fit common aesthetic standards and appeal more both to themselves and the others. Not surprisingly, as Blum mentions many of cosmetic surgeons call themselves artists and sculptors. In many aspects comparisons between cosmetic surgery and art are based on the reasonable ground. Dislike the general surgery, cosmetic one does not have the standardized procedures. Contrasting to surgery where the doctor is the one and only who knows the way to successful treatment.

The United Arab Emirates

The United Arab Emirates Contents Introduction Brief history Rank on human development index Type of government and economic system Economy Health care Statistics Education Family life Social issues Equality Conclusion Works Cited UNITED ARAB EMARITES Introduction This paper deals with the overview of economic, social, governmental and political arrangements in United Arab Emirates. UAE is a steady, exceedingly developed authoritarian system by means of a contemporary financial system. Tourist facilities are extensively on hand. UAE a country that shows us even all the way through hard times, even a great combat, could stand up from the ashes and be one of supreme countries in the human race. (Walsh, 2008) Brief history The United Arab Emirates (UAE) is a federation of total of seven emirates came into being on 2 December 1971, in the company of the seventh member, Ras al-Khaimah, coming in early 1972. Ever since that time, on the other hand, the UAE has developed as a federal unit, by means of the result that the so-called try out of unification in the present day symbolizes the lone flourishing effort at federation inside the Arab world. (Romano, 2004) Rank on human development index Backed by the progressive financial program built around monetary liberalization, diversification and development in the position of the private division, the UAE has moved up 23 positions in the United Nation Human Development Index ever since 1980, at present standing in 32nd position in the class of extremely high human development Type of government and economic system The UAE’s governmental system persists to be defined by the conventional patriarchal method of leadership shared with political devotions prearranged around the country’s a variety of ethnic elements. Authoritarian type of government is present here. On the national level, the Supreme Council, counts in the monarchs of each of the seven emirates, is the top executive and governmental authority, â€Å"exercising supreme control upon the affairs of the Union in general† Economy The most recent value for GNI per capita, Atlas method (current US$) in UAE was 40,760 as of 2012. Since 10 years, the rate for this indicator has varied between 45,630 in 2008 and 33,070 in 2002. The per capita GNP for the UAE is recorded as 112 billion dollars. (Zaman, 2011) Health care Health is a significant subdivision of any country and it is the responsibility of the government to make available the superlative health care facilities to the populace of the state. It is the accountability of the government to present the population by means of the best possible health check facilities. The major aim of any administration is to make sure the interests and well being of the natives. It is one of the most important rights of any human being that he is supposed to encompass the entrance to the fundamental medicinal facilities. When citizens talk on the subject matter of healthiness, they do not converse about a healthy body on the other hand health means robustness of brains which can never be accomplished if the body is not healthy enough in order to perform the responsibilities and the additional everyday tasks. Health is not a personal matter, but instead healthy human being means a healthy measurement of any population. No state can continue to exist devoid of i ts people fit in every sense that counts in the physical and mental well being of nation. It’s the citizens who construct or damage the states. For a fit and progressive country, a strong and fit nation is as obligatory similar to that of the oxygen is for the existence. Following stats show the health care system and expenditures in UA E Statistics Education The UAE offers wide-ranging education to each and every one (male and female students), from play school to university, with schooling for the country’s citizens given that at no cost at all classes. The UAE steadily enlarged its budgetary allotment for both basic and higher teaching levels. AED 9.7 billion or 23% of the entire federal funds was given to the Ministry of Education in 2012 Family life If inhabitants of UAE are to choose between family or work they probably chose family. This shows the clear inclination of the Emiratis people towards family. For them spending quality time with the family is more of a blessing and it is the basic priority in their way of living. Studies show that flexible connection between the family and the work cam lead one to the path of prosperity and success. Those who do not care about the responsibilities of their family unit they suffer ion their private lives and personal relations. A strong family bonding is seen in their families. Number of children may vary from 4 10 6 and concept of re marrying is common in them. Social issues Some of the social issues may count in corruption, adoption of westernization, unequal rights of female, bonded labor and obsession of teen towards modern technology with the passage of time. However well built policies and laws are formulated and implemented to avoid the further consequences of these issues. (Hurreiz, 2002) Equality As per the Article 14 of the constitution specially assures â€Å"equality for all before the law, without distinction between citizens on the basis of race, nationality, religion or social status,† still there do exist an unsaid and undefined criterion by which national or spiritual minorities are deprived of aspects of their civil rights as populace of the country. As UAE is a diverse place for a lot of indigenous people, government is trying to preserve the rights of incoming people by providing equal opportunities on all level. (Ibrahim Abed, 2001) Conclusion I would like to sum up my report with the learning that UAE being the federation of all seven emirates, is flourishing well in terms of economy, education and trade while the country requires to work on human rights and eradication of social problems. Works Cited Hurreiz, S. H. (2002). Folklore and Folklife in the United Arab Emirates. Psychology Press. Ibrahim Abed, P. H. (2001). United Arab Emirates: A New Perspective. Trident Press Ltd,. Romano, A. (2004). A Historical Atlas of the United Arab Emirates. The Rosen Publishing Group. Walsh, J. (2008). UAE. Kuperard. Zaman, N. U. (2011). Uae and Globalization Attracting Foreign Investments. GRIN Verlag.

Historical Perspectives in Special Education Essay

Autism Spectrum Disorder There are many different definitions for the term special education. An effective definition for special education is that its specialized instruction that students with disabilities are entitled to receive as articulated in IDEA, (Friend, M). There are many different disabilities that can entitle a student to special education. Students are entitled due to learning disorders, mental retardation, physical disabilities, and also disorders such as autism. In this paper I will discuss doctors, schools, and educators that has had made a difference in the life of a student with autism. Born, February 18, 1906, Hans Asperger was an Austrian pediatrician that published the first definition of Asperger’s Syndrome in 1944. Asperger did a study on four boys and acknowledged a pattern of behavior and abilities that he called â€Å"autistic psychopathy†. The word autistic means self and psychopathy means personality disease. According to Asperger, the pattern included a lack of empathy, little ability to form friendships, one-sided conversations, intense abruptions in a special interest, and clumsy movements. Children with Asperger’s Syndrome had the ability to discuss their favorite subject in great detail and for that reason Asperger often called them â€Å"little professors†. Asperger passed away October 21, 1980, before the identification of this pattern of behavior became widely recognized. Today, technology plays a major role in the life of a student with ASD such as the software Mind Reading, which helps them cope with the disorder ASD and learn different skills daily. Mind Reading is a software that covers the entire spectrum of emotions, and is suitable for the ages of 5 through adult hood. Using the software can help a student explore over 412 emotions, allowing them to hear the emotions by six different people. Mind Reading also provides context, there are 2472 faces, voices, and stories about emotions. Mind Reading is inexpensive for its value. Parents can purchase Mind Reading for $129 for the DVD that contains the emotions library module, games zone, and learning center modules. This DVD can also be run on computers. There is a more expensive software starting at $499 that would be used for classrooms. This device is the DVD with Site License. This package contains 4CDROM disks that are used to install the product directly to the hardware. Mind Reading software can be helpful to a student with ASD in a classroom, by helping them learn their emotions and how to cope with them. This software allowing them to hear so many voices, see so many faces, and hear many different stories gives them the knowledge that they are not the only one’s feeling those different emotions. Aside from the Mind Reading software, there are also different institutions that are helpful to students with ASD and tend to their emotions. There are places such as the New England Center for Children that’s available to students with ASD. NECC has twenty-five years of practical experience. Located in Massachusetts, it is accessible to students with ASD from all over. NECC has a commitment to respectfully provide high quality educational services, and to help each student to reach his or her individual potential and to lead a productive and independent a life as possible. NECC offers several services such as academic, speech and language therapy; development of social and life skills, vocational training, physical education, occupational therapy, family services, outreach services and health care. Independence is strictly emphasized at NECC. There are schools such as Heartspring that serves children with various disabilities as well as schools such as Pacific Autism Center for Education that has residential group homes. Parents may prefer to send their children to a school that serves children with ADS versus an inclusion classroom, because their needs are specifically identified at a school for ASD. Inclusion classrooms are great for social skills but it can cause confusion when it comes to there needs being met. Schools are not the only supporters of ASD; there are also several agencies that serve students with ASD. Bernard Rimland founded the Autism Society of America (ASA) in 1965. ASA is dedicated to increasing public awareness about autism and the day-to-day issues faced by individuals with autism, there families and the professionals they interact with. ASA and its chapters share a common mission of providing information and education as well as research and advocating for programs and services for the autism community. An important service that ASA provides is valuable peer support. Peer support is valuable because it brings together parents and families who are dealing with the same emotions as the others; rather they are joyful or painful. Overall, I believe that if Hans Asperger was still alive today he would be actively involved in the different organizations and agencies providing services for students with ASD. The study that Hans Asperger did has increased in knowledge and if he was still alive today he would have contributed to the study done and correct the assumptions done by society. If Hans Asperger could send a message to me a future professor, it would probably say to be patient with the students with ASD and to take the time to try and understand them. Hans story has inspired me as a future teacher because he watched two young children and noticed something different in them. With what he noticed he did a study and found interesting facts that nobody else ever noticed. That alone has been an inspiration, and a note to me to watch your students and notices there differences it could have a special meaning behind it. Works Cited ASA, The Voice of America. (2004). Chapter Descriptions. Retrieved March 20, 2006 from http://www.autism-society.org/site/PageServer?pagename=ChapterIntro Autism Coach. (2004). Mind Reading. Retrieved March 20, 2006, from http://autismcoach.com/Mind%20Reading.htm The New England Center for Children. (2001). Programs and Services. Retrieved March 27, 2006, from http://www.necc.org/programs_services/services.asp Wikipedia, the free encyclopedia. (2006). Hans Asperger. Retrieved March 20, 2006, from http://en.wikipedia.org/w/index.php?title=Hans_Asperger&printable=yes

Pornography Should NOT Be Censored - 1986 Words

Introduction For the past 30 years, pornography has been a subject that has divided many North Americans as the topic became increasingly controversial with time. The subject makes for a very significant ethical issue mainly because it’s an issue that has the capability of altering our freedom of expression and because it’s a topic that invokes many conflicting values and competing ideas of right and wrong. Furthermore, pornography is also a major ethical issue because many of those that are against feel as though it infringes on societies’ morals as many believe that â€Å"viewing even mildly explicit pornography leads to an interest in increasingly deviant material† (McNaught and Renneboog). That said, this essay will illustrate why†¦show more content†¦Argument 2: Pornography Has Its Medical and Social Benefits The Meese Report is a legal document that was released July 9th, 1986. It was intended to promote a higher level of restriction towards obscenity laws and to expand on definitions of obscenity (â€Å"The Meese Commission on Pornography†) in order to â€Å"encourage the abolition of sexually explicit materials† (â€Å"The Meese Commission on Pornography†). Even that document acknowledged several areas where the uses of sexually explicit materials have been put towards positive purposes (Strossen 163). For example, â€Å"the treatment of sexual dysfunctions and the diagnosis and treatment of some paraphilias†, or in other words, the addiction of strange sex practices (Strossen 163). Furthermore, many experts, namely doctors, have strong faith in the notion that it can â€Å"improve the sex lives of many couples† (Strossen 163). Evidence of this is through Patti Britton, Ph.D., a board-certified clinical sexologist who states â€Å"[†¦] it is common knowledge in my field that sexually explicit films and videos are often recommended as a mode of treatment for couples or individu als with clinical sexual problems† (Strossen 163). Not to mention that even individuals with no significant sexual problems can easily benefit from pornography to also â€Å"spice up† their sex lives. As a result, many doctors have stated that explicit materials add strength to many relationships, consequently solidifying them (Strossen 164). AsShow MoreRelatedPorn and Censorship15240 Words   |  61 PagesPornography and Censorship Should the government be allowed to legitimately prohibit citizens from publishing or viewing pornography, or would this be an unjustified violation of basic freedoms? Traditionally, liberals defended the freedom of consenting adults to publish and consume pornography in private from moral and religious conservatives who wanted pornography banned for its obscenity, its corrupting impact on consumers and its corrosive effect on traditional family and religious values. ButRead MoreThe Censorship of Art Essay example14698 Words   |  59 Pageshistorical examination of the actions undertaken to censor and control rap and rock music since the founding of the Parents Music Resource Center (PMRC) in 1985. I. SETTING THE STAGE: THE PARENTS, THE SENATE, THE LABEL Concerns over rock ‘n’ roll music have lead to public debate, political and legal actions, and law enforcement activities ever since its invention in 1955 (Jones 1991:75-76; McDonald 1988a:294-302). However, since the formation of the PMRC in 1985, a new, more organizedRead MoreManaging Information Technology (7th Edition)239873 Words   |  960 Pages2002, 1999 Pearson Education, Inc., publishing as Prentice Hall, One Lake Street, Upper Saddle River, New Jersey 07458. All rights reserved. Manufactured in the United States of America. This publication is protected by Copyright, and permission should be obtained from the publisher prior to any prohibited reproduction, storage in a retrieval system, or transmission in any form or by any means, electronic, mechanical, photocopying, recording, or likewise. To obtain permission(s) to use material

Sarbanes Oxley SOX - Effective Governance Essay - 1891 Words

Sarbanes-Oxley: Effective Governance? Introduction On December 2, 2001, less than a month after it admitted accounting errors that inflated earnings by almost $600 million since 1994, the Houston-based energy trading company, Enron Corporation, filed for bankruptcy protection. With $62.8 billion in assets, it became the largest bankruptcy case in U.S. history, dwarfing Texacos filing in 1987 when it had $35.9 billion in assets. The day Enron filed for bankruptcy its stock closed at 72 cents, down from more than $75 less than a year earlier. Many employees lost their life savings and tens of thousands of investors lost billions. Who is to Blame? That is what at least a half-dozen Congressional Committees, the SEC, the U.S. Justice†¦show more content†¦Although the Act applies only to public corporations, its affects undoubtedly trickle over to the entire business and investing environment. Analysts have stated that they have seen a cascading effect, which will continue to cause many privately-owned businesses, governmental, and non-profit entities to be affected through similar regulations and requirements. Major Provisions of Sarbanes-Oxley Some of the major provisions of the Sarbanes-Oxley Act are summarized below with assistance from J. Carlton Collins, CPA, president of ASA Research, LLC. 1. Financial Records – Companies are required to maintain and retain detailed financial records. 2. Work Documentation - it is now a felony with penalties of up to 10 years to willfully fail to maintain all audit or review work papers for at least five years. The U.S. Securities and Exchange Commission will establish a rule covering the retention of audit records, and the U.S. Public Accounting Oversight Board will issue standards that compel auditors to keep other documentation for seven years. 3. Document destruction - destroying documents in a federal or bankruptcy investigation is considered a felony and can carry penalties of up to 20 years in prison. 4. Fraud discovery - the statute of limitations for the discovery of fraud is extended to two years from the date of discovery and five years after the act. Previously it was oneShow MoreRelatedThe Sarbanes Oxley Act ( Sox )1604 Words   |  7 PagesThus, to respond to the public pressure over acts of corporate offense, the Sarbanes-Oxley Act (SOX) was enacted in 2002. SOX proposed major changes to the regulation of corporate governance and financial reporting by improving the accuracy and reliability of company disclosure. This essay will explain the effects of SOX on the financial statement fraud in an organization. Situation Prior to the legislation of Sarbanes-Oxley Act, the regulations of financial statement were much more lax than currentRead MoreThe Sarbanes Oxley Act Of 20021015 Words   |  5 PagesThe Sarbanes-Oxley Act of 2002, also known as the SOX Act, is enacted on July 30, 2002 by Congress as a result of some major accounting frauds such as Enron and WorldCom. The main objective of this act is to recover the investors’ trust in the stock market, and to prevent and detect corporate accounting fraud. I will discuss the background of Sarbanes-Oxley Act, and why it became necessary in the first section of this paper. The second section will be the act’s regulations for the management, externalRead MoreThe Sarbanes Oxley Act ( Act ) Essay1432 Words   |  6 Pages The Sarbanes Oxley Act is an act passed by the United States Congress to protect investors from the possibility of fraudulent accounting activities by corporation. The Sarbanes Oxley Act has strict reforms to improve fina ncial disclosures from corporations and accounting fraud. The acts goals are designed to ensure that publicly traded corporations document what financial controls they are using and they are certified in doing so. The Sarbanes Oxley Act sets the highest level and most general requirementsRead MoreSarbanes Oxley Memo1410 Words   |  6 Pages August 22, 2005 SUBJECT: Sarbanes-Oxley recommendations As consultants for Ancher Public Trading (APT), Learning Team A would like to discuss the implications of the Sarbanes-Oxley (SOX) legislation. This memorandum provides a brief history of SOX ¡Ã‚ ¦s creation, explains the relationship amongst the FASB, SEC and PCAOB, describes the pros and cons of SOX, assesses the impacts of SOX, and lists ethical considerations of SOX. History of SOX - the Sarbanes-Oxley Act of 2002 is legislation inRead MoreIT Corporate Governance Essays1599 Words   |  7 PagesCorporate governance is the responsibility of an organization’s board of directors (BOD). The internal auditor (IA), the external auditor (EA), and the information technology (IT) auditor all play important roles in the process of corporate governance. By using established frameworks established by the Sarbanes-Oxley Act (SOX), the Integrated Framework from the Committee of Sponsoring Organizations of the Treadway Commission (COSO), and the Control Objectives for Information and related TechnologyRead MoreSarbanes Oxley Act And Its Effect On Businesses1542 Words   |  7 Pagesthe Sarbanes-Oxley Act. In 2002 the Sarbanes-Oxley Act passed by the U.S. Congress to protect shareholders and the general public from accounting errors and fraudulent practices in the enterprise, as well as improve the accuracy of corporate disclosures. With the research I have done I believe that with the act being accepted and pass made a big change for all organizations, large and small. Keywords: U.S Congress, Organizations,Research, Sarbanes-Oxley, Accounting the Sarbanes-OxleyRead MoreThe Sarbanes-Oxley Act of 20021668 Words   |  7 PagesThe Sarbanes-Oxley Act of 2002 The Sarbanes-Oxley Act of 2002 The Act Impact ACC 410, Jackie Lewis, Ph.D. Abstract The Sarbanes-Oxley Act, officially named the â€Å"Public Company Accounting Reform and Investor Protection Act of 2002†, is recognized to be the most noteworthy U.S. federal disclosure and corporate governance legislation since the Securities Act of1933 (the Securities Act) and the Securities Exchange Act of 1934 (the Exchange Act). Furthermore, the provisions of the Act areRead MoreSarbanes Oxley Act1322 Words   |  6 PagesSarbanes-Oxley Act The Sarbanes-Oxley is a U.S. federal law that has generated much controversy, and involved the response to the financial scandals of some large corporations such as Enron, Tyco International, WorldCom and Peregrine Systems. These scandals brought down the public confidence in auditing and accounting firms. The law is named after Senator Paul Sarbanes Democratic Party and GOP Congressman Michael G. Oxley. It was passed by large majorities in both Congress and the Senate and coversRead MoreSarbanes Oxley Act And Its Effect On Market Liquidity1289 Words   |  6 Pagesseller (Abella, 2016). The Sarbanes Oxley Act in 2002 incentivized institutions to keep more accurate and attainable records of business. The Act being based off of the fraudulent activity of several high profile companies (eg. Enron), was put in place to better monitor and record a companies transactions, improve management style, and promote ethically responsible behavior in the workplace (Keneth, 2015). Our main purpo se is to determine whether or not the Sarbanes-Oxley Act had an affect on marketRead MoreRegulatory Compliance Controls1712 Words   |  7 Pagesï » ¿Ashbaugh-Skaife, H., Collins, D. W., Kinney, W. R., and LaFond, R. (2006, rev. 2007) The effect of SOX internal control deficiencies on firm risk and cost of equity. Retreived http://www.wbur.org/news/local/icd/icd.pdf This paper examined the cost-benefit of SOX, looking specifically at the potential for a lower cost of equity as a result of lower information risk. The findings indicate that, after controlling for other risk factors, firms with internal control deficiencies have significantly higher

The Effects of Online Banking Example

Essays on The Effects of Online Banking PowerPoint Presentation ï » ¿The Effects of Online Banking Prologue There has been global awareness that our environment is endangered. All the spheres of human activity have started incorporating measures that would help reduce the pressure on our environment. The corporate world has also been bitten by the bug to preserve mother Earth. The concept of online banking is seen by many as a step towards providing a safer and greener earth to our progeny. The banking sector plays an essential role in any nations economy .Consequently if this sector adopts measures that reduce the negative impact on nature and help preserve environment then the other business are more likely to respond to the global concern regarding the issue of conservation of environment. The Wall Street Journal (May 15, 1998) reports that according to the editor of The On-line Banking Report, between 4.5 and 5 million customers used online banking in May 1998, as compared to 200,000 people who used it in 1995. According to a survey conducted by â€Å"Pew Internet and American Life† in 2004, during past five years online-banking is the highest rising motion on the Internet in United State of America. Among all users of the Internet around 44% are utilizing online banking some way or the other, that is, 53 million (McGann, p 9-13). As the number of people using online banking increases the level of pollution comes down. How is this possible? The ‘online banking effects’ section discusses this in detail. Banking industry through out the corporate world is leading the way for the environmentally conscious people. More and more banks throughout the world are wooing its client to are subscribe to online payments of utility bills .The banks are requesting its client to use online bank statement to keep tract of monetary transaction. Technology Impact on Environment There is a growing awareness that the technology should not negatively affect our environment. The internet boom is contributing very positively to making our planet greener. There is less use of paper and it is also reducing the use of fuel as the people now don’t need to go to banks as often as they needed to do so in the past. Many banks like the Citizen’s Bank of Canada are realizing they were contributing to greenhouse gas emission. It has offered its customers an option of online banking and it reports that its there has been able to cut down its use of paper by 30% .Bank of America also followed the same trajectory and says that there has been a 32% reduction in its paper use (The paper planet, n.p). Apart from the environmental effects, online banking also has a positive impact on the business itself. Among all other latest advancements in technology internet occupies a prominent position and thus has its impact on business also. It is quite predictable that it is going to serve as a main dynamic forcing transformation in the near future (Jayewardene and Foley, p 12-20). Online Banking versus Retail Branch Banking A traditional retail bank provides its services through a vast banking structure in different areas of a country both rural and urban. Such banks are usually large customer based and enjoy presence of high street there is a feeling of safety and brand acceptance among the customers. Though there is a constant interaction with the bank staff, but the general 8 hour operating timings may not suit all. There is a traditional â€Å"sales-oriented† pursued in this system. Whereas, the geographical borders are eliminated by online banking and people can perform their required transactions from anywhere and whenever they want. It has shifted the culture of business to be â€Å"customer-oriented† (The U.S. Online Retail Banking Market, p1).This has led to immediate access to account of the customer and has made it more environment friendly .It is one of the few technological advancement which is cost effective as well as conserves environment. Effects of Online Banking Online banking can effect our environment positively. Below are some of the effects of online banking. i. Online banking can help reduce the paper cost. It has been calculated that almost 53% of American citizens use online banking systems. This means that the country saves up to 2.3 million tons of wood, which was not cut down from the forests in order to make paper. It is a known fact that trees help in the reduction of carbon dioxide from the environment. If every citizen starts using online banking system, then the paper usage will get limited to only schools and some corporations. This will save millions of tress and hundreds of forests from destruction (Environmental leader, n.p) ii. Fuel consumption can be reduced by almost 26 million BTUs. According to Environmental Leader report, this is enough electricity to for the entire city of San Francisco for almost one year. As fuel in a natural resource hence not consuming it wisely will result in fuel crisis in the future. However most importantly, every gallon of fuel burned adds extra pollution in the atmosphere. Therefore adapting online banking will reduce the consumption of fuel and hence reduce toxic air pollution (Environmental leader, n.p) iii. Online banking also reduces toxic wastewater. This waste water can fill up almost 20,000 swimming pools. As the solid waste generation (be it in form of papers etc) is reduced this will result lesser garbage and lesser the garbage trucks have to load. The lesser trucks required and hence again lesser fuel consumed. Moreover, solid waste also adds pollution to the environment. Hence adapting online banking will result in lesser solid waste generation (Environmental leader, n.p) iv. Almost 8.5 million particulates (which act as pollution) will be removed form air. v. Keeping in view the time consumed in traditional banking, the online banking seems to be quite speedy as transactions are usually very quickly approved and completed through it. A number of sophisticated tools are now provided by various sites, comprising portfolio managing programs, account aggregation, rate alerts, and stock quotes to assist the customers in managing their assets more successfully. vi. Further, the customer can use the online banking facility to make electronic payments of bills, make electronic check payments, or transfer money to accounts in other banks. Thus, they are in a position to save some vital resources as under. At present it is a common practice that both spouses work to make both ends meet and thus, are always short of time not only for each other but fir their kids also which may lead to anxiety and stress. By saving traditional banking hours they can spare these for the family vii. Ink usage and other things such as rubber stamps, envelops, ATM cards etc will be reduced. All of these add up in the environmental pollution. Most of these inks contain lead and hence combined all the banks generate a lot of solid toxic lead waste. viii. Apart from all the above effects, online banking will help save a lot of land space which is currently being used by corporate banks. The government can plant trees and make parks in these areas and hence contributing positively to the environment. Works Cited â€Å"Introduction to Internet Banking†. 13 June 2008. http://www.uknetguide.co.uk/Finance/Article48.html Environmental leader (2007). Online banking’s environmental benefits can drive market growth. retrieved June 18. 2008 from: http://www.environmentalleader.com/2007/08/09/study-online-bankings-environmental-benefits-can-drive-market-growth/ Jayewardene, Chanaka. Foley Paul, "Changes in the banking sector: The case of Internet banking in the UK". 13 June 2008. www.emeraldinsight.com/10.1108/10662240010312048 McGann, Robb. â€Å"Online Banking Increased 47 Percent Since 2002†. 2005. 13 June 2008. http://www.clickz.com/showPage.html?page=3481976 â€Å"Paper-Free Service†. 13 June 2008. http://www.halifax.co.uk/aboutonline/paperfree.asp Stewart, Kate. â€Å"Online Banking. 2002. Emerald Publishing Limited. 13 June 2008. http://site.ebrary.com.library.capella.edu/lib/capella/Top?channelName=capellacpage=1docID=10052682f00=textfrm=smp.xhitsPerPage=20layout=documentp00=online+bankingsortBy=scoresortOrder=desc â€Å"The U.S. Online Retail Banking Market†. 2005. 13 June 2008. http://www.packagedfacts.com/sitemap/product.asp?productid=959462 What is online banking†? 13 June 2008. http://www.bankrate.com/brm/olbstep2.asp The paper planet (2008). Online banking saaves trees and carbon emissions- and money. Retrevied June 18, 2008 from: http://thepaperplanet.blogspot.com/2008/06/online-banking-saves-trees-and-carbon.html