History of Sport Essay Example for Free

History of Sport Essay The effect of sports on today’s world, particularly in the United States, is indeed profound. The history of sport has the potential to teach us a great deal about social changes and the nature of sport itself. Over the past twenty-five years or so, the field of history has expanded, embracing a broader view of historical topics and going far beyond political and military history in refiguring the historical paths of this and other nations (Nelson). Throughout the many years during the Pre-Colonial era, Colonial era, Industrial Revolution, Post Civil War, and the Twentieth Century, the sports industry was created with several factors affecting its formation. The Pre-Colonial era consisted of the time prior to 1500’s. During this time in North America, the land had been consumed by the Native Americans and their culture. Population was spreading widely across the continent. The people of this era were found to be genuine and quiet. Daily activities such as hunting, farming, running, and warfare slowly turned into more of physical activity and competitive games for leisure. Recreational play was seen as an outlet. Physical activity and games, more often than not, were linked to spiritual beliefs. Staying â€Å"fit† was essential. Common sports known during pre-colonial time were lacrosse, archery, and running. Colonial America started with the Puritans bombarding America during 1600-1800 A. D. to break away from the churches, religions, and beliefs. The Puritans were found to be extremely hard working which was a result from the motivation of staying alive. The Puritans were also widely known (and still to this day) of being very religiously involved. Games were considered to be â€Å"wicked† or sinful; such as gambling and drinking. Aside from the Puritans, sport marketing started to make an appearance during the Colonial era, leading to the growth of interest and participation in sports. Tavern owners were the first known sport marketers on record. Taverns would announce games and sport through posters and word of mouth. During this time the common sports were found to fit the lifestyle and culture; such as horse racing, running, arm wrestling, rifle, cockfighting, and boxing. Colonial America was the start to our sporting industry. The Technological Industrial Revolution occurred along with the Post Civil War era during 1800-1900. Throughout these one hundred years the sport industry was growing rapidly along with technology, factories, immigration, companies, and educational systems. Due to the growth in technology and factories, citizens had more time and more money; therefore recreation was used to fill downtime causing our sport industry to grow further. Faster modes of travel started to develop and be more convenient, helping organized sports form. Immigrants added to the industry by introducing their sports to America as well. Modern spectator sports were on a rise such as boxing, running, and horse racing. However, the Civil War era negatively affected sports by slowing sport activities due to the lack of men and overall population in society. Once men started leaving for war more and more women took jobs that had once belonged to men, which was a huge impact on society as this was the first sign of equality between men and women (Nelson). The working structure was seen as â€Å"feminizing† society, sports helped to â€Å"masculine† society. Wealth was on the rise after the war forcing sports to become very class specific, and the upper class tried to exclude lower classes; Class and race were a deciding factor for accepted participation in sports. The first known organized sports team; New York Knickerbockers’ were a baseball club created in the 1840’s and Intercollegiate Athletics first event occurred in 1852, Harvard and Yale competed in a rowing contest. Society was soon hooked on sports. The era of Twentieth Century made the most dramatic century of growth yet for the sports industry. Sports became part of our educational system as organizations formed to work together creating codifications for different sports, improving equipment, and increasing social involvement. Sports were taken to a very serious level in the early 1900’s. In 1904 the NCAA was founded to hold conferences, regulate rules along with player eligibility, and made coaches from educators. Competitive sports led to changes in our educational system when it established physical education positions. These positions forced research into sports because of the need for better and newer physical education curriculum. At first, Females were allowed to be involved in sports at a noncompetitive level or to promote health. The participation of women in sports grew over time however, with society being the critical factor. Upper-class and middle-class women were absolutely restricted from playing sports as it was thought to not be â€Å"proper. † The National Football League was created in 1911 which turned out to be a major step in the development of sports as entertainment. In 1941 society’s values of class, sex, and race was evident when Joe Namath signed a contract for $400,000 while Curt Flood, a slave had a salary of nothing. In 1972, Title Nine was put into act guaranteeing no discrimination regarding sex for sport institutions. Transportation was even more advanced helping organized sports teams compete against one another. Television and newspapers impacted sports by airing sporting events, criticizing and critiquing each play, as well as displaying the opinion of the program broadcasters. The most popular, known, and leading sports network ESPN aired its first national NFL broadcast in 1987 (Giordano). ESPN started offering magazines, national sports radio, and satellite radio in 1992 in attempt to curve the educational desire of the sporting society. ESPN changed the culture of sports. The history of sport is most likely as old as the existence of man. Physical activity, games, and daily activities contributed to the creation of organized sports with codification. Throughout the many years during the Pre-Colonial era, Colonial era, Industrial Revolution, Post Civil War, and the Twentieth Century, the sports industry has proved several, very different, and unexpected factors affecting its formation. The sports industry is continuing to grow rapidly year after year, changing with society’s values and lifestyle. Works Citied Giordano , Peter. The Evolution of ESPN. SOP: News, Interviews, More.. (2007): n. page. Web. 14 Sep. 2011. http://thesop. org/story/sports/2007/04/29/the-evolution-of-espn. php. Kindred. Century is over get the lights. Sporting News 224. 1 (2000): 63. Academic Search Complete. EBSCO. Web. 14 Sept. 2011. McClung, Lisa R. , and Nancy E. Spencer. Women and Sport in the 1990s: Reflections on Embracing Stars, Ignoring Players. . Journal of Sport Management 15. 4 (2001): 318. Academic Search Complete. EBSCO. Web. 14 Sept. 2011. Nelson, Murry. Sports History as a Vehicle for Social and Cultural Understanding in American History. Social Studies 96. 3 (2005): 118-125. Academic Search Complete. EBSCO. Web. 13 Sept. 2011.

The Terrorist Threat Essay -- Analysis, Ulrich Beck

The paper â€Å"The Terrorists Threat World Risk Society Revisited† written by Ulrich Beck, the author analyses how risk has changed overtime and he focuses on the idea of new risk, and that is world risk. Ulrich Beck breaks down this idea of world risk into three different types, spatial, temporal and social. As well, he also names three different types of conflict, he discusses the effects of risk on the center and the periphery and he examines the use of language. In this essay the main focus will be on how the main points of Ulrich Beck can all relate to the three different types of risk otherwise known as the de-bounding of risk. Also, I will look at how the de-bounding of risk has dissolved the idea of nation-states. One of the many ideas of risk in this topic is that risk has become de-bounded. Beck explains this by saying that risk is not the fact that life is becoming more dangerous, but the fact that the types of risks have changed (Beck 2). The de-bounding of risk means that risks have surpassed their territorial limits; they are not longer restricted by time and space boundaries. Beck argues that there are three new types of risk that emphasize this de-bounding. The first is called spatial, spatial risk refers to the fact that new risks in society are not staying within traditional boundaries; those are the boundaries of the states (Beck 2). The next type is temporal, this category of risk means that new risk does not have time restrictions, the consequences of a risk can last longer then we are able to communicate them (2). Lastly there is the social risk, the social risk no longer has one central cause, and you can no longer blame one person or society for that problem (3). Beck goes on to describe â€Å"[the de-bounding ... ... argument is too centered on America; this is because he is talking about dealing with the risks as a united world but he seems to be claiming America will be the center. His most compelling idea is the issue of the de-bounding risk. This is important because all of his other main points can be put into the three categories that he sets out for risk, spatial, temporal and de-bounding. The de-bounding of risk is also the reason for why states are slowly starting to focus more on risks and the world rather then risks and their society. In this essay I summarized Beck’s main points then examined how they could be categorized by the aspects of de-bounding as well, I also examined Beck’s idea of the nation-state disappearing. Overall Beck’s argument is one that should be taken into consideration when understanding where modernization is taking the future of the world.

Importance of Participation

This is a vital issue today that what is the purpose of electing the political parties to form the government. If we look the entire democratic process it completely gives the picture of non people oriented leadership establishments in political leadership, getting education, starting business doing any social services. The democracy's look is capitalist. Till we change this look and understand the democracy has given the first right to common people and that right is representative right and now we have to think how this right should be used by the common people to lead the society entering into the political institutions.The representative right is now used by the wealthy classes in our society and they able to build the political parties and in maximum cases they constituted the constitutional framework that gives the political parties to come in front of the common people through election commissions registration process. If we seriously look into the function of election commiss ion they should limit themselves to act for preparing the people's mandate giving programme and listing the voters, but they are doing some extra job given to them by the political leadership who want to remain in seat of power.The democracy is the rule of the common people first using the representative right from the constitution directly   and forming the political institutions to workd for the people. After five years the election commission make the arrange ment for asking people to vote to these institutions which has been formed directly taken the representative right through the constitutional provision to establish the people's leadership in the political institutions. We have to change the capitalist huge social money costly system in people oriented simple and meaningful process.Which could bring social unity among the world community and the capitalist people also feel for the society and remaining in the society and earning they mustnot ignore the social needs afteral l society is supporting them to get the profit  and taxes are not the only answer because taxes is to be collected to run the administration properly because present world social system, social centralised imagination is not thought about so every welfare programmes has been taken by the state and the result is that they unable to fulfill the people's desire.So change the democracy and  all political parties should correct the constitution of their country to include the people's commission provision to provide the people their first democratic right of The Representation   to form the political institutions in this way we can control the society and unite the people  for better purpose. Peace, security and prosperity would come through the social system  supported to political system.

Study On The Three Stages Of Money Laundering Finance Essay - Free Essay Example

Sample details Pages: 9 Words: 2632 Downloads: 7 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Money laundering refers to the process of cleaning dirty money or entering money and assets acquired illegally into the financial system by following a complex process in order to make them appear legally acquired. This process consists of three stages. On the first stage, called Placement, the money enters the financial system. Don’t waste time! Our writers will create an original "Study On The Three Stages Of Money Laundering Finance Essay" essay for you Create order Offenders use different methods of placement, among these are: money deposited in relatively small amount into several current and savings accounts so as not to arouse suspicion, and the use of businesses offering services where is common to receive cash payments therefore false payments from hypothetical clients can be recorded and money enters the system. The second stage is Layering. Once the money has entered the system is then moved around in a series of numerous and complex transactions with the purpose of obscure the trail. What follows then is the third and last stage, Integration. The dirty money is considered integrated after successfully entered the financial system and its origin made extremely difficult to trace therefore appear to be legal or clean (Upton and Hinton, 2010). What are the main features and purpose of the FSAs fit and proper test for financial firms and certain of their employees? The purpose of the FSAs fit and proper test is to assess whether an applicant, either an individual or a financial firm, has all the credential to perform a controlled function for which is applying. Under the fit and proper test the FSA assesses the individuals or firms against three main features. First, the applicant has to prove to be honest, reputable and of integrity, clear of wrong doing or criminal offence in particular associated to financial crime and dishonesty. Second, the applicant has to be competent and capable or having the expertise required by the FSA in relation to the controlled function. Finally, the applicant has to be financially stable. The FSA will assess the applicant against factors such as debts or bankruptcy restrictions (FSA, online). Question 3: What role does the Financial Services Compensation Scheme (FSCS) perform? The Financial Service Compensation Scheme (FSCS) acts as insurer should a financial company or firm become insolvent or has gone out of business and unable to pay its customers. The FSCS funds are acquired through the payments of levies on five categories of financial companies and firms. These are: insurance companies; general insurance firms; deposit-takers; investment firms and home finance firms. For instance, should an insurance company become insolvent the FSCS will compensate its customers by using funds acquired by payments of levies in the same category only (Upton and Hinton, 2010). Question 4: What is a defined contribution pension scheme? The defined contribution pension scheme is an arrangement where an individual or a company through a pension scheme, pays money into a fund at regular intervals. At retirement an annuity is purchased. The annuity purchased is based on the total amount of the fund after deduction of any charges from the scheme provider. The fund is calculated by totalling all contributions of the member and relative proceeds; proceeds from investments; and level of interest rate at the time of retirement. Words count: 468 Part B What factors led to the creation of the Financial Service Authority (FSA) and what factors have led to the decision of the current Government to re-assign its responsibilities to other bodies from 2012? The aim of this essay is to highlight the main factors that led to the creations of the Financial Service Authority (FSA) in the 1990s and the recent events that have induced the current Government to reassign FSAs responsibilities to other bodies from 2012. History of the FSA The 80s and 90s have witnessed very important developments that have influenced the fast evolution of the financial service industry. According to Upton and Hinton (2010, Session 5:7), globalisation, Big Bang and technological changes are the main three. These changes developed simultaneously, strongly influencing each other. Technology, in particular the internet, radically changed the way individuals and companies did business. It shortened distances through more immediate form of communication and faster means of exchanging data, which in turn favoured economic globalisation. Economies increasingly integrated with each other in a growing global market where foreign investments, companies takeovers and outsourcing became the norm. Technology and globalisation also influenced changes in the UK Stock Exchange leading to the Big Bang. All these developments increased the need for better regulation not only in relation to foreign markets but also within the UK. In the UK each fina ncial sector was self-regulated. In the mid 80s the Securities and Investment Board (BID) that already had the responsibility to regulate investment services was increasingly given more responsibilities also in other sectors. In 1997 the BID adopted a new name becoming the Financial Services Authority (FSA). In 2001, under the Financial Services and Market Act 2000 (FSMA) the FSA acquired the responsibility to regulate the financial services followed by the regulation of mortgages in 2004 and general insurance in 2005 (Upton and Hinton, 2010). FSA today The FSA is part of a tripartite system and shares responsibility with the Bank of England and the Treasury. The Bank of England is responsible for maintaining financial stability and it does this by assessing weaknesses and risks in the financial system, providing financial help when needed to keep the system operating. The Bank of England also manages monetary policies and oversees the financial system as a whole. The Treasury is responsible for managing economic and public finance policies. Each component of the tripartite has the need to communicate efficiently to the others in order to promote and maintain a healthy financial system. The FSA was the part of the Tripartite to come into scrutiny following the latest financial crisis. The FSA has two core responsibilities: a) prudential regulation: which involves supervising the financial firms making sure they are financially stable; b) business conduct regulation: supervising and making sure that business is conduct in the in terest of consumers (Upton and Hinton, 2010). The FSA achieves its responsibility by equally focusing on the four statutory objectives given by FSMA 2000, which are: Market confidence. The FSA is responsible for maintaining confidence in the UK financial system. Financial stability. The FSA has to protect the UK financial system against consequences of UK financial instabilities and against events outside the UK. It also has to ensure enhancement of effects on growth of the UK economy. Consumer protection. The FSA has to protect consumer according to their degree of expertise and experience when they are making financial decisions and educating them in regard to information available to them, risks and nature of different product at their disposal. Reduction of financial crime. The FSA has to reduce the possibilities of financial crimes in regulated businesses. (FSA, online) During the current financial crisis started in 2008, the FSA has been criticised for lack o f compliance with its responsibilities in preventing or reducing the impact of financial instability. One of the reasons that led to the financial crisis was the greediness of banks and financial firms to grow their money and the sub-prime mortgage market seemed to be the perfect solution. Sub-prime mortgages were very risky as the calculation of returns was based on assumptions of number of borrower defaults. Both the FSA and Bank of England should have assessed the risks and should have not allowed them at all or at least a stricter regulation should have been imposed i.e. verifying the actual income of borrowers rather than accept self certification . Furthermore, FSA should have had protect consumers from this high risk financial products. As defaults raised the sub-prime market predictably collapsed and so collapsed the market confidence in the financial system, the FSA once more failed to fulfil its objectives. FSA, the future Following the latest financial crisis events the Chancellor George Osborne, in his first Mansion House speech, said that the tripartite failed to identify the increasing levels of debt and said that no one was controlling levels of debt, and when the crunch came no one knew who was in charge. In his speech Mr Osborne highlighted the weaknesses of the current financial system and how these have led to the crisis, he also announced a proposal to reform the financial system in order to avoid similar situations in the future. The changes involve the abolishment of the tripartite with dismantle of the FSA. The Government will create a new prudential regulator operating as a subsidiary of the Bank of England. Within the Bank of England there will be two new regulators; one, it will be an independent Financial Policy Committee, responsible for the economic and financial stability. Two, a new Consumer Protection and Market Authority and it will be responsible for regulate the conduct of financial firms and businesses offering financial services in the UK both retail and wholesale. There will also be a new single agency that will be responsible for tackling economic crime. The reform is aimed to be completed by 2012 (HM Treasury, online). Words count: 944 Part C What roles are played by customer status classification and suitability reports in seeking to ensure that customers are not mis-sold financial products? The FSA provides principles and rules to businesses and individuals offering financial services. These principles and rules are comprised in the Conduct of Business Sourcebook (COBS), and aim to ensure that financial products are not mis-sold to customers. According to Upton and Hinton (2010, session 8:2) the relationship between financial firms selling financial products and their customers can be summarized in six key stages. The first of these stages, classification of customer status, leads to and influences the next five. One of the five stages requires the completion of the suitability report. This essay will examine how the customer status classification and the report help to minimise the risks of mis-selling financial products. Classification of customer status Under the COBS framework customers are divided into three categories or statuses: retail, professional and eligible counterparties clients. The status in which they fall is determined by the level of their knowledge and expertise in the financial market. Retail clients include small businesses and private individuals. This category is considered the one with lower knowledge in financial products. Professional clients include a diverse list of entities and firms which all have in common a good knowledge of transactions, products and services of the financial market. Therefore, they are able to make financial decision and understand related risks. Eligible counterparty clients include investment firms, insurance companies and any other large financial organisation with very high expertises in the financial market. The purpose of this classification is to determine and provide the right degree of protection to clients when selling financial services; the lower the knowledg e the higher the protection. COBS framework is applied only in the UK, when a EU company operates in the UK or a UK company operates in any other EU states the Market in Financial Instruments Directive (MiFID) regulation is applied. MiFID as well as COBS follows the same client classification. When a financial firm is in doubt on what level of classification to assign it should always use the level and the regulation offering the highest protection. The relationships between a financial firm selling a financial product and its client are based on this classification. The firm is obliged under the above regulations and customer classification to act on the clients best interest and maximum transparency in all stages of this relationship. The second and third stages following the customer status classification are respectively: Communication and Advertising on and selling products to customer (Upton and Hinton, 2010). On these stages firms will promote or sell their products to clients. Firms must communicate the features of the products clearly and explicit and use the highest level of protection when dealing with clients, according to the customer status classification. When a firm is directly involved in recommending financial products or managing clients investments has to comply with the COBS framework in completing a suitability report. Suitability report In order to act on the best clients interest, a firm must ensure that its recommendations and its decisions are suitable for its clients. The suitability report is designed to help the firms to collect all the information they need to give the right guidance on investment products to their clients. According to COBS (FSA, online, COBS 9.2) firms must obtain the following information from their clients: 1) knowledge and experience in the investments offered; 2) their financial situation and 3) what investment objective they have. Clients are obliged to provide accurate, up to date and complete information. The firms are responsible for verifying this information and if it is insufficient to assess clients suitability they should not make recommendation. Based on this information the firm will be able to decide which type of investment to offer that matches the clients objectives, it will also understand if the client is able to understand the risks related to the product and fina ncially bear these risks. Once the suitability has been assessed the firm must provide the suitability report to the client. The report will contain the investment recommendation that the firm is making and a detailed explanation of why it is suitable. It should clearly explain any possible disadvantages and risks of the investment and its transaction. If the client has been considered unsuitable for the product, the report will give a clear explanation on the reasons. The suitability report must always be clear, accurate and comprehensible to the client (FSA, online, COBS 9.4). Third stage: Disclosure requirements. In addition to the report the firm is also obliged to disclose very important information such as right to cancel, cooling-off periods and size of financial market where the recommendations were based on (Upton and Hinton, 2010). If the client decides to buy the financial product or to give the management of a financial portfolio to a firm, according to Upton an d Hinton (2010) the relationship moves on to the next two stages. One being Transaction and Management arrangements or rules on transaction and on management of portfolios; and the other Reporting to customers or rules and details of regular information sent to clients related to their investments. COBS and MiFID, as seen above, aim to protect the customers interests in all aspects of the financial transactions. While the customer status classification and the suitability report, are mainly to guide firms selling financial products to avoid mis-selling of these products. Words count: 886 Part D Outline the cases of: The near collapse of the Northern Rock Bank and The mi-selling of the precipice bonds Comment in both cases on how far these were the consequence of regulatory weaknesses. Northern Rock The Northern Rock originated as a building society in 1965 and as all building societies it has a limited access to the wholesale funds. In the late 1990s the Northern Rock was converted into a bank and as a consequence it had wider access to the wholesale market. From that point onwards, Northern Rock expanded rapidly and by 2007 almost 70% of its funding came from wholesale funds. With the new funds it increased competiveness as mortgage lender in the UK market, packaged up a very high percentage of its mortgage assets and sold them to companies. These companies converted the assets into mortgage-backed securities and in turn sold them to investors. When in 2007 the sub-prime mortgage market fell, the demand for securitised mortgage also dropped due to the wide-spreading lack of confidence in the financial market. The Northern Rock found itself increasingly short of liquidity and asked for help to the Bank of England. The news immediately reported its precariousness which caused a run on the bank, customer queued to withdraw their savings, thus worsening the liquidity crisis. Despite receiving help from the Bank of England to boost its liquidity, the British Government had to step in and rescue the bank. In 2008 Northern Rock was nationalised (Upton and Hinton, 2010). Words count: 211 ÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦.work incompleteÃÆ' ¢Ãƒ ¢Ã¢â‚¬Å¡Ã‚ ¬Ãƒâ€šÃ‚ ¦