The Implementation Of Multinational Banks In Emerging Countries Finance Essay - Free Essay Example

Sample details Pages: 13 Words: 4046 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Research paper Did you like this example? Profit opportunities are related to the characteristics of the country of origin and those of the host country. Foreign banks seize the opportunities that arise in emerging countries. They are attracted by attractive tax regulations and a lower level of taxation, by high prospects of economic growth and efficiency, and the existence of an uncompetitive banking sector. Don’t waste time! Our writers will create an original "The Implementation Of Multinational Banks In Emerging Countries Finance Essay" essay for you Create order The competitive situation in the host country is an important factor in the choice of location. It is essential for multinational banks to examine the competitiveness of local banks, opportunities to enter the market and the probability of winning a market share. For example, the interest of Spanish banks for the banking market in Latin America can be explained by the low banking penetration in the region. The demographic structure of the host country is also an important factor to consider in choosing the host country. According to the theory of life cycle, savings allow the individual to ensure consumption in the future. In his early active life, the individual tends to borrow. Thus, young adults have negative savings. Afterward, the individual can save (accumulation phase). In retirement, he uses his savings (negative savings). Economies with young populations represent an attractive market for banks operating retail services. Indeed, even if these banks do not record gai ns in the short term, they can make a profit when people come to the accumulation phase. These banks generally have a long-term strategy. They are therefore aiming at a positioning on the market at a moment where the savings of most individuals is negative hoping for a future return or yield (Smith Walter [2003]). The demographic structure of emerging regions is characterized by a young population, which would in the long term constitute the future customers of retail banking. Demographic growth prospects in emerging markets are particularly attractive for European banks. Indeed, population projections preview a reduction of the European population in 2050. With regard to tax regulations, banks take into account mainly the corporate income tax, taxes on banking products and the existence of agreements to avoid double taxation between the country of origin and the host country. Table 1: Population projections 2050 (in millions of individuals) 2010 2050 Africa 1033 1937 Asia 4166 5217 Europe 730 653 Latin America 593 783 North America 348 483 World 6906 9076 Source: World Bank, United Nations Claessens et al. [2001] support the hypothesis that high taxes strongly discourage the entry of foreign banks. Multinational banks dependent on the ability of the host country to ensure liquidity and monetary stability, are brought to focus on other macroeconomic factors such as the stability of the currency, moderate inflation and relatively low interest rates, etc. The existence of effective communications systems also plays a crucial role in the selection of an optimal location. Indeed, the quality and availability of these systems are necessary for the proper functioning of banks. In addition, the location (near economic centers) can be a decisive factor in the location. It is also important to consider the conditions on the labor market, particularly the availability of skilled labor, labor costs and labor laws. The problem of qualifications must be taken into consideration because the costs of learning and training can be sign ificant barriers to the development of multinational banking activities. Restrictive regulations of the host country reduce investment opportunities and available choices. Some of these regulations limit competition and protect inefficient domestic banks. Foreign banks therefore have a preference for countries with open banking systems (Miller Parkhe [1998]). To attract foreign banks, governments have an incentive to impose low regulatory costs such as low taxes and limited entry barriers. Political stability is also a decisive factor for the choice of location as it determines the economic and legal conditions in the country. Multinational banks should also take into account the country risk, which is measured by indicators such as the deficit of the balance of payments, inflation, GDP growth and debt service. Finally, the regulations of the country of origin may affect the banks expansion abroad. Restrictions on FDI outflows reduce the likelihood that banks locate in other countries. 3.3 The impact of Basel II on the implementation of multinational banks in emerging countries The Basel accord aiming at improving the financial systems solidity applies to all international banks. The new capital requirements are more consistent with the risks to which banks are exposed. They are now required for credit risks, market risks and operational risks. The implementation of this agreement will have consequences not only on banking activities but also on the internationalization strategies of banks. The latter should reflect the Basel II requirements before taking decision on the establishment abroad, especially in emerging countries. By substantially modifying the calculation of the cost of risk, the Basel II changes in depth the strategies for the allocation of credit, pricing, measurement and management of risks. Will multinational banks tend to reduce their investments in these countries as they would be forced to hold more capital to cope with higher risks? Or rather, they will enjoy the potential competitive advantage over local banks that may have dif ficulties to meet the requirements of Basel II? 3.3.1 From Basel I to Basel II Compared to Basel I which is solely based on quantitative equity requirement calculated according to a standard method, the new agreement includes a number of innovations. The new capital requirements take into account credit risk, market risk as well as operational risks. The new capital ratio further integrates the reality of risks. For the calculation of minimum capital requirements, banks have the choice between using standard methods and methods based on internal ratings IRB. The Basel II rests on three pillars: Pillar I: capital requirements Pillar II: Prudential Supervisory Process: supervisory authorities may impose individual requirements higher than those calculated by the methods proposed by the first pillar. Pillar III: Market Discipline: Banking institutions are required to publish comprehensive information on the nature, volume and methods of managing their risks and the adequacy of their capital. The new Basel agreement increases the capital requirements of banks operating in emerging countries. The implementation of Basel II by the industrialized countries has consequences not only on the location decisions of multinational banks in emerging markets but can also cause changes in strategy for banks with already established subsidiaries and branches in these countries. The loans granted by foreign banks in emerging countries for sovereign borrowers as well as for banks and enterprises in the host country are now subject to the new Basel II. Multinational banks should take account of new capital requirements particularly with regard to credit risk. As part of the revised standard approach, the calculation of credit risk is more differentiated in function of risk. The major change, compared to Basel I guidelines, concern borrowers rated B and below. The weighting of credit risk in this category increased from 100% to 150%. Table 2: Weights applicable to different categories of borrowers Basel I Basel II Rating AAA to AA- A+ to A- BBB+ to BBB- BB+ to BB- B+ to B- Less than B- Unrated States OECD 0% 0% 20% 50% 100% 100% 150% 100% Non-OECD 100% Banks 20% 20% 50% 100% 100% 100% 150% 100% Companies 100% 20% 50% 100% 100% 150% 150% 100% Individuals 100% 75% Mortgage 50% 40% The new Basel Accord requires the weighting of the highest risk to 150% particularly: the claims on sovereigns, other public sector entities, banks and investment firms rated less than B-; the claims on companies rated less than BB-, the unpaid claims for more than 90 days and receivables deemed particularly risky by the national supervisory authority. Emerging countries as well as local companies and banks, often with low ratings, represent a quite high credit risk which implies higher cost of capital for these regions. On the other hand, countries that have better ratings benefit from the provided system in the framework of the Basel II since that regulatory changes aim in particular to a more efficient allocation of credit taking into account the different levels of borrowers risks. The difference between the minimum capital requirements for banks located in different countries can be considerable; this could influence the choice of the latter with respect to the host country to be chosen for their internationalization. The adoption of the IRB approach significantly increases the weighting of low rated borrowers thus generating a significant increase in the minimum capital required. Thus, banks having adopted the IRB approach would be encouraged to give loans to the best borrowers, usually located in countries with a high rating. It would be more advantageous for multinational banks to locate in these countries; especially that the new agreement encourages banks to retain the IRB approach. 3.3.2 The New Basel Accord enhances the competitive advantages of foreign banks Emerging countries have no obligation to apply the provisions of the new Basel Accord, however, they are strongly encouraged to do so. In fact, emerging countries do not have much choice. Not applying the international monitoring standards could put them away from the international financial community. In addition, the loans granted by the IMF or the World Bank are often subject to conditions on the compliance of local regulations with international standards. Similarly, the establishment of branches in a foreign country is allowed only if the country of origin shall apply the Basel Accords (Mark [2003]). On the other hand, the development of standards specific to emerging countries is very expensive for those countries that lack the resources and expertise to tackle such a project. Thus, regulators in emerging countries are more or less forced to apply the Basel Accord requirements, even if they are not adapted to the contexts of these countries. The implementation of Basel II in emerging markets could have a negative impact on local banks; these could be in a competitive disadvantage. Indeed, the Basel Accords, being basically established for the large multinational banks in order to limit bank risks, are not really suited to the needs and conditions of the banking system in emerging countries. The prudential regulations adopted under the new agreement may be inappropriate and may even weaken the banking system in emerging countries (Rojas-Suarez [2001]). On the other hand, the large international banks often retain the IRB approach, an approach that is difficult to apply in developing countries. This approach generally requires a lower level of capital than that required by the standard approach thus strengthening the competitive position of international banks relative to domestic banks in emerging countries (Mark [2003]). Indeed, foreign banks tend to attract less risky customers who benefit from a less strong risk weight in the case of an IRB appr oach than in the standard approach. The competitive advantage that multinational banks could benefit from with the implementation of Basel II requirements should encourage them to locate in emerging countries. Foreign banks may take control of some weakened local banks and even dominate the banking system in these countries. Chapter 4: Intervention strategy 4.1 Framework The suggested intervention consists of reaching a higher level of internationalization for Credit Libanais, and a bigger diversification for EFG Hermes Groups activity. Concretely, the intervention would be the inauguration of Credit Libanais in the countries of the West African Economic and Monetary Union. Since that penetrating new markets tend to be a considerable investment, it would be more appropriate to choose one country among those targeted ones to start the internationalization operation. Consequently, it is suggested to start with the Ivory Coast. The following sections aim at explaining or justifying this choice, thus highlighting the importance of this intervention. 4.2 Ivory Coasts Economic Prospects The economic and social prospects for Cote dIvoire depend largely on the pacification of the country and the successful implementation of emergency reconstruction programs. Thus, assuming that the security situation is normalized in the second half of 2011, in conjunction with the lifting of sanctions and resumption of international cooperation, a strong recovery in GDP growth in real terms (about 6%) is expected as from 2012. On-going efforts to ensure the supply of petroleum products, secure production areas and rehabilitate marketing channels should push inflation down to less than 3% as from 2012, that is to say below the WAEMU convergence criteria. The return to political stability has fuelled great expectations among the population regarding the delivery of essential public services and rapid improvement in living standards. However, this will mean a major risk in terms of unfulfilled social demands. The redeployment of the tax and customs administration in the CNW areas w ill help to reduce tax evasion and consequently improve the collection of revenue necessary to meet increased spending prompted by the pressing needs of the population. The commitment of development partners to support the Ivorian authorities in their reconciliation and reconstruction efforts will create an atmosphere of confidence conducive to renewed growth and private sector development. Given the constant interaction between the Ivorian economy and that of neighboring WAEMU countries and particularly the movement of people, any support to Cote dIvoire will have direct or indirect spill-over effects at the regional level on the hinterland countries. IMF projections in September 2010 suggested improved economic growth of about 4.8% for the 2012-2014 period, stabilizing at 6% thereafter and reaching the historical post-devaluation growth path (1994-1998). The Ivorian economy could experience fast recovery because there was no excessive destruction of capital. In the medium an d long term, growth will mainly depend on: (i) rehabilitating public infrastructure; (ii) improving governance, particularly in public and semi-public enterprises, as well as in the coffee/cocoa, energy and financial sectors; and (iii) improving the business environment. 4.3 Ivory Coast Economic Outlook The Ivory Coast economy is heavily dependent on agriculture and related activities, which engage roughly 68% of the population. As the worlds largest producer and exporter of cocoa beans and a significant producer and exporter of coffee and palm oil, the economy is highly sensitive to fluctuations in international prices for these products. The considerable political turmoil in the last decade has continued to damage the economy, leading to decreased foreign investment and weak economic growth, as can be seen below. Source: Drum Commodities, Ivory Coast Report, March 2012. The political chaos weighed heavily on the economy in 2011, with GDP falling to -7.3% after moderate growth in 2010 and now little higher than the 1999 level. With the return of stability, the IMF has forecast growth of 5.9% for 2012, with large injections of aid last year geared towards reconstruction helping to kick-start activity. Cocoa output is in the process of recovery and there are hopes of re newed inflows of investment in other sectors. Sustained growth will require large amounts of aid and renewed inflows of FDI, which will be helped by the new $615m IMF loan approved in November 2011. This loan was granted under the Extended Credit Facility (ECF), which has a zero interest rate, a grace period of 5.5 years, and a final maturity of 10 years. Debt relief is a high priority; 40% of 2012 budget spending is on debt service, and repayments on a $2.3bn eurobond have been in default for the past year. 2009 2010 2011 2012 (projected) Real GDP Growth 3.7 2 -7.3 5.9 CPI Inflation 4.7 2.7 6.3 3.3 Budget Balance % GDP -1.6 -2.5 -1.9 -3.4 Current Account % GDP 7.2 5.9 5.2 4.2 Source: Drum Commodities, Ivory Coast Report, March 2012. 4.4 Ivory Coasts tertiary sector The tertiary sector of the economy continues to play a key role in the Ivorian economy. It proved to be the driving force behind the economic growth of 2010 as crop production fell, with particularly strong performances from the telecommunication, commerce and services sector. As expected though, this suffered in the 2011 crisis, particularly the tourism and hotel industry, but expectations are that this sector will help propel the economys recovery in 2012. Table Showing Composition By Sector as a Percentage of GDP: Composition % of GDP Agriculture 29.2 Services 49.8 Industry 20.9 Other 0.1 Source: Drum Commodities, Ivory Coast Report, March 2012. Ivory Coasts banking system is playing an increasing role in financing the different sectors of the national economy. It provided the primary sector with XOF 57.2 billion (4% of total financing), the secondary sector with XOF 556.5 billion (37% of total financing) and the tertiary sector with XOF 876.6 billion (69% of total financing). There are 5 banks with majority Ivorian capital functioning: Banque nationale dinvestissement (BNI), Banque pour le financement de lagriculture (BFA), Banque pour lhabitat de Cà ´te dIvoire (BHCI), Versus Bank, and CNCE. Socià ©tà © gà ©nà ©rale de banque en Cà ´te dIvoire (SGBCI) and Banque Internationale pour le commerce et lindustrie de Cà ´te dIvoire (BICICI), which are subsidiaries of the French banks Socià ©tà © gà ©nà ©rale and BNP Paribas, between them cover the wage bill of 80 600 civil ser vants and other state employees and account for close to 30% of the Ivorian banking market. Monetary policy is implemented at regional level, as Ivory Coast and the other member states of WAEMU share currency, the CFA Franc (XOF), which is pegged to the Euro at a fixed parity. Monetary and credit policy is run by the Central Bank of West African States (BCEAO), which has close links to the French Treasury as part of the monetary co-operation agreement between France and WAEMU member countries. The Dollar/West African CAF Franc Exchange Rate is: USD/XOF rate: $1=XOF498 The countrys recent macroeconomic policy has been to pursue the implementation of the 2009-11 financial and economic program and the Poverty Reduction Strategy Paper (PRSP), in order to complete the Highly Indebted Poor Countries (HIPC) initiative. Ivory Coast is one of the 40 countries worldwide eligible for this, considered to face an unsustainable debt burden that cannot be managed by traditional means. This grants the recipient country debt relief or low-interest loans to cancel or reduce external debt repayments to sustainable levels. The success of the economic reforms above has led to the Paris Club of international creditors rescheduling Cà ´te dIvoires debt. This will reduce repayments by more than 78% over the next three years; roughly US$1.9bn was deferred and US$400m was cancelled. There has been marked progress in Ivory Coasts economic partnerships with other emerging economies. Co-operation is often based on sharing experience and knowledge, the transfer of technologies and access to their respective markets. The countrys natural resources and its position within the WAEMU and ECOWAS economic zones render it ideal for partnership with other emerging economies. Ivory Coasts increasing connection with emerging economies has served to lessen the dependence on its traditional trading partners, namely Europe. Despite this, the EU still dominates Ivory Coasts foreign trade, but this trend is lessening, particularly with regard to Ivorian imports. 4.4.1 Domestic credit provided by the banking sector Domestic credit provided by the banking sector includes all credit to various sectors on a gross basis, with the exception of credit to the central government, which is net. The banking sector includes monetary authorities and deposit money banks, as well as other banking institutions where data are available (including institutions that do not accept transferable deposits but do incur such liabilities as time and savings deposits). Examples of other banking institutions are savings and mortgage loan institutions and building and loan associations. Domestic credit provided by banking sector (% of GDP) in Cà ´te dIvoire was 25.14 as of 2010. The Domestic credit provided by banking sector (% of GDP) in Cote dIvoire was last reported at 25.31 in 2011, according to a World Bank report published in 2012. Its highest value over the past 48 years was 51.26 in 1983, while its lowest value was 16.22 in 1963. Source: World Bank Indicators, 2012. 4.4.2 Commercial banks and other lending (PPG + PNG) (NFL; US dollar) in Cote dIvoire The Commercial banks and other lending (PPG + PNG) (NFL; US dollar) in Cote dIvoire was last reported at -58213000 in 2010, according to a World Bank report published in 2012. Commercial bank and other lending includes net commercial bank lending (public and publicly guaranteed and private nonguaranteed) and other private credits. Data are in current U.S. dollars. Source: World Bank Indicators, 2012. 4.4.3 Cost of business start-up procedures (% of GNI per capita) in Cote dIvoire The Cost of business start-up procedures (% of GNI per capita) in Cote dIvoire was last reported at 132.60 in 2011, according to a World Bank report published in 2012. Cost to register a business is normalized by presenting it as a percentage of gross national income (GNI) per capita. Source: World Bank Indicators, 2012. 4.4.4 CPIA financial sector rating (1=low to 6=high) in Cote dIvoire The CPIA financial sector rating (1=low to 6=high) in Cote dIvoire was last reported at 3 in 2011, according to a World Bank report published in 2012. Financial sector assesses the structure of the financial sector and the policies and regulations that affect it. Source: World Bank Indicators, 2012. 4.4.5 Deposit interest rate (%) in Cote dIvoire The Deposit interest rate (%) in Cote dIvoire was last reported at 3.50 in 2010, according to a World Bank report published in 2012. Deposit interest rate is the rate paid by commercial or similar banks for demand, time, or savings deposits. Source: World Bank Indicators, 2012. 4.4.6 Foreign direct investment; net (BoP; US dollar) in Cote dIvoire The Foreign direct investment; net (BoP; US dollar) in Cote dIvoire was 380872959.97 in 2009, according to a World Bank report, published in 2010. Foreign direct investment is net inflows of investment to acquire a lasting management interest (10 percent or more of voting stock) in an enterprise operating in an economy other than that of the investor. It is the sum of equity capital, reinvestment of earnings, other long-term capital, and short-term capital as shown in the balance of payments. This series shows total net, that is, net FDI in the reporting economy from foreign sources less net FDI by the reporting economy to the rest of the world. Data are in current U.S. dollars. Source: World Bank Indicators, 2012. 4.4.7 Bank liquid reserves to bank assets ratio (%) in Cote dIvoire The Bank liquid reserves to bank assets ratio (%) in Cote dIvoire was reported at 9.45 in 2008, according to the World Bank. Ratio of bank liquid reserves to bank assets is the ratio of domestic currency holdings and deposits with the monetary authorities to claims on other governments, nonfinancial public enterprises, the private sector, and other banking institutions. Source: World Bank Indicators, 2012. 4.5 Ivory Coast Export/ Import Commodities Ivory Coasts main export commodities are cocoa, coffee, timber, petroleum, cotton, bananas, pineapples, palm oil and fish. Its primary imports are fuel, capital equipment and foodstuffs. Ivory Coasts primary export trading partners are US (10.2%), Netherlands (10%), Nigeria (7.7%), Ghana (6.7%), Germany (6.2%), France (6.2%) and Burkina Faso (4.5%). The countrys main import partners are Nigeria (22.4%), France (12.6%), China (7.1%) and Thailand (4.8%) (2010). Total exports for the year 2011 came to $11.24 billion, whilst imports totaled $7.295 billion. Europe remains the countrys largest continental trading partner with 44% of trade, ahead of the rest of Africa with 29% and Asia with 12.5%. Chinas share of 3.2% is modest by comparison with its position in Africa generally, but is growing rapidly, driven by cheap Chinese exports. Trade with other emerging countries such as Brazil, Malaysia and India have also developed in recent years, as too has their investment in Ivor y Coast. Chapter 5: Conclusion The decision of MA operation between Credit Libanais and EFG Hermes was made on strategic basis. The Credit Libanais objective is to achieve geographical expansion using its acquirer financial power and EFG Hermes objective is to achieve an enhanced business diversification especially after it sold its shares in Audi Bank. In general, EFG Hermes has reached its objective the moment the MA operation was executed. On the other hand, Credit Libanais objective is still not reached. Benefiting from the points of strength and the present opportunities, an intervention is suggested in this paper for Credit Libanais in order to overcome its weaknesses and threats. The intervention consists of penetrating a new market which is the West African Economic and Monetary Union market. It suggests the opening of Credit Libanais in the Ivory Coast which is a member of the WAEMU. This location was chosen for the growing importance of the Ivory Coast economy within the WAEMU and for many other encouraging factors such as the countrys tertiary sector, banking structure, and cost of business start-up procedures as well as the presence of an important Lebanese community there. This paper has detailed the Credit Libanais environmental factors and suggested an intervention for a better performance and strategic implementation. It didnt go through cost details since that information concerning location price, equipment price and availability, and wages and salaries in Ivory Coast are difficult to get. Moreover, the cost issue of the intervention is not the primary factor for the implementation decision making since that this intervention is a first step in a series of market implementation targeting the rest of the countries of the WAEMU. In other words, its an investment that is expected to generate revenues on the medium and long term rather than the short term and comes to satisfy the MA banks objectives.

Discuss the Research on Compliance and Conformity Underlining

To comply and conform in society is sometimes ideal in some situations especially when everyone has their own ideas, beliefs, opinions and ways of thinking. So to comply and conform when group work arises is a situation many people do to avoid confrontation, possible embarrassment, and generally being `the odd one out. Psychologists have done many experiments to tests compliance and conformity. They have tested why people do it, when people will do it, which people do it, how people do it, and what situations people are more likely to do it. I will discuss mainly what enhances and what reduces this type of behaviour through research done by Asch, Milgram, and Sherif. Asch (1951) did an experiment to test peoples conformity skills with†¦show more content†¦(Philip Banyard and Andrew Grayson, Introducing Psychological Research, p7). There are criticisms with this experiment though because people believe that the research concentrates on the individual rather than the situation they are in. Also, the research invariably deals with very trivial tasks or judgments. For example, ` how long is the line? Well who cares? (Philip Banyard and Andrew Grayson, Introducing Psychological Research, p9). The study was also often done on students, of which are more likely to conform due to the fact that they do not want to be different than what they thought were other students in the group. It might have portrayed them as `stupid and may even have thought if they gave the wrong answer (which was actually the correct answer but others said differently) thought the others may think they had a weakness in their intelligence if they didnt concur with them. The meaningless nature of the task, no emotional involvement and that they were all strangers to one another also affected the responses of the research participant. In fact, the results of the experiment may have shown conformity considerably higher than in a `real life situation where people are more likely to put forward their own beliefs aboutShow MoreRelatedUnit 522 becoming an effective leader a7806 Words   |  32 PagesGoleman sets out the framework within which to EI competence could be improved and identifies two areas where this is to be achieved; personal and social competencies. Goleman and Cherniss have jointly produced a paper [11] for The Consortium for Research on Emotional Intelligence in Organizations identifying 22 guidelines which represent the best current knowledge relating to the promotion of EQ in the workplace, summarised as: Paving the way assess the organizations needs assessing the individualRead MoreDeveloping Management Skills404131 Words   |  1617 PagesManager: Kelly Warsak Senior Operations Supervisor: Arnold Vila Operations Specialist: Ilene Kahn Senior Art Director: Janet Slowik Interior Design: Suzanne Duda and Michael Fruhbeis Permissions Project Manager: Shannon Barbe Manager, Cover Visual Research Permissions: Karen Sanatar Manager Central Design: Jayne Conte Cover Art: Getty Images, Inc. Cover Design: Suzanne Duda Lead Media Project Manager: Denise Vaughn Full-Service Project Management: Sharon Anderson/BookMasters, Inc. Composition: IntegraRead MoreCase Study148348 Words   |  594 Pagesthat it is prescribed in the following way: †¢ The appropriate chapters of the book with a few suggested issues to bear in mind. For example, it might prove useful for participants to read Chapter 1 and be expected to discuss what is meant by strategy or to read Chapter 3 and discuss what strategic capabilities matter most in organisation. Preparation of illustrations, case examples or case study material. Here, specific guidance can be found in the teaching notes in Section 6 and in the work assignmentRead MoreProblems on Cost Accounting70221 Words   |  281 PagesRecapitulate the main concept after going thr ough each chapter by way of brief notes. ∞ Prepare notes in the manner you feel comfortable covering all key points. Use mnemonic form e.g. C V P denoting cost, valuation and price. ∞ One may use highlighter/underlining the significant points or writing down in the margin. ∞ The fact that how well you have understood the topic is your ability to attempt the questions given in the exercises as well as in the practice manual. Make a serious attempt at producing your

Critical Response to Poetry Essay Example For Students

Critical Response to Poetry Essay Every word in Harlem (A Dream Deferred) communicates a part of the meaning to the readers. Each word conveys more of the impact of a dream unaccomplished. The author is not literally saying but instead is asking. He is imposing the readers to think about a dream deferred. Without having to say it literally, the question rises In the minds of the readers; do I have dreams that have been left sitting? Are they causing this heavy down sagging in my life, in my heart? The author writes the poem in questions which brings up questions to the readers about themselves. As well we have the word Harlem in the title. Possibly readers will be reminded of the community Harlem In New York City. Most likely It has something to do with that community or the African-American people who live there. Otherwise, why else would the author put that word in the title? This poem gives the readers a feeling of moldiness, surrounds them with heaviness, it brings thoughts about a dream that no one would want to believe In. The whole poem is made up of Imagery, in each nine we have vivid Images from the words written. Does It dry up Like a raisin In the sun? In this line we see a hot sun with shriveled dried up raisins. Than maybe we think about a dream in this state. Or fester like a sore- and then run? Nobody likes to hear the word fester. It only brings images of ugly wounds infected and full of puss. What horribleness to think of a dream that way. Then he asks the q uestion Does it stink like meat? He is more or so saying does a deferred dream follow you like the smell of rotten meat? Is it something horrible that you cant get rid of unless o throw It away or burry it? We will write a custom essay on Critical Response to Poetry specifically for you for only $16.38 $13.9/page Order now His next line Is not stinky or horrible like rotten meat, and immediately It changes the Image in the readers mind to something sweet and sugary but gone stale, no longer having the taste of true sweetness. Then you read the next line and the author says Maybe it Just sags like a heavy load? Is this unaccomplished dream bogging down that happiness In your life? Maybe youve been walling to long for It to happen and life no longer feels worth living. Finally In comes the last line rather suddenly Or does it explode? Have you waited a long time or this dream happen, only to give up on it suddenly, all at once? Was it there untouched then suddenly thrown away? Each line in Harlem (A Dream Deferred) brings up questions In a readers mind about himself, about the poem, and about dreams in general. 2. This Is the poem I choose to write about. The Victor If you think you are beaten, you are. 1 OFF If you like to win but think you cant, Its almost a cinch you wont. If you think youll lose, youre lost. For out in the world we find Success begins with a fellows will. Its all in the state of mind. If you think you are out classed, you are. Youve got to think high to rise. Youve got to be sure of your-self before You can ever win the prize. Lifes battles dont always go To the stronger or faster man. But sooner or later, the man who wins Is the man who thinks he can. By C. W. Linebacker Its all in a state of mind, if you think you cant do something you wont be able to. To succeed you must have the will power to push on, if you think you cant, you surely wont. This poem is a reminder of how youll succeed through the strength and confidence of positive thinking. If you think you can do something, for example, run a long distance race. .ud8daf33448431b63523cf298376e6430 , .ud8daf33448431b63523cf298376e6430 .postImageUrl , .ud8daf33448431b63523cf298376e6430 .centered-text-area { min-height: 80px; position: relative; } .ud8daf33448431b63523cf298376e6430 , .ud8daf33448431b63523cf298376e6430:hover , .ud8daf33448431b63523cf298376e6430:visited , .ud8daf33448431b63523cf298376e6430:active { border:0!important; } .ud8daf33448431b63523cf298376e6430 .clearfix:after { content: ""; display: table; clear: both; } .ud8daf33448431b63523cf298376e6430 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .ud8daf33448431b63523cf298376e6430:active , .ud8daf33448431b63523cf298376e6430:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .ud8daf33448431b63523cf298376e6430 .centered-text-area { width: 100%; position: relative ; } .ud8daf33448431b63523cf298376e6430 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .ud8daf33448431b63523cf298376e6430 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .ud8daf33448431b63523cf298376e6430 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .ud8daf33448431b63523cf298376e6430:hover .ctaButton { background-color: #34495E!important; } .ud8daf33448431b63523cf298376e6430 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .ud8daf33448431b63523cf298376e6430 .ud8daf33448431b63523cf298376e6430-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .ud8daf33448431b63523cf298376e6430:after { content: ""; display: block; clear: both; } READ: Poetry EssayYou have a good chance of winning or doing well, but if you choose to think negatively, that youll never do it, that youll never make it to the finish line. Then most certainly that is what will happen. Your body was created to obey the thoughts of your mind. So that which you think, being negative or positive, determines significantly, more then anything else, how well youll do, in anything you set out to complete. The Victor is a very inspiring poem for many people because e all have struggles and problems throughout our lives. Its not easy to always think positive when life is bringing you down. Its about what you think you can and cant do. Its about making the right choice to climb your mountain when you come to it. The poem speaks about the way we defeat ourselves. When our minds begin to have doubts and fears, then already, we have been defeated. You have to set goals and believe you can achieve them. It depends only on what you think you can accomplish. There is many times where the approach of things has stopped a person from achieving something, whether its a life changing circumstance, or Just a small everyday thing, because that person Just could not bring himself into believing he could do it. This poem comes down to one thing; think negative and the outcome will be negative; think positive and the outcome will most surely be positive. How far do you think you can go, how far do think you can push yourself? The word think is the key word. Its all in the state of mind, in our self-esteem and how we think about ourselves in life. So a person is sitting at a table with a plate of rice in front of him. Now this particular person despises rice, you might think; well he probably Just has different taste buds. But really it has nothing to do with taste buds or anything else. It has only to do with how this person pictures rice in his mind. The whole about rice. This simple example goes for anything whether it is, running a race, writing an essay or doing you chores. It has nothing to do with the task itself; the difficulty of it matters very little. Its how you look at it, which makes the difference. Many people tend to look lowly at themselves, they tend to think theyre no good at anything, theyll often see themselves as ugly or stupid. They might even think that nobody likes them. This poem is a little reminder, to all of us out there with such thoughts, that how we think of ourselves is how well feel about ourselves. To conquer the world we must first believe in ourselves. To have faith in others we must first have faith in ourselves. To be loved by others we must first love others. To do all these things we must first have a positive nature, and then well see the world in a new light. It will become a place you never thought it could be.

Soldiers In The Civil War Essays - Union, Confederate States Army

Soldiers In The Civil War A Soldiers Life in the Civil War Life during the Civil War was not a pleasant time. There was basically utter chaos going on the South. Soldiers had to deal with the harsh conditions and the thought of death. Plantation owners had to worry about who was going to work their fields. Business owners had to worry about who was going to buy their products. Citizens had to worry about soldiers destroying their property. And the government had to worry about how to pay the soldiers and how to end the war. This was a very rough time to be alive. Soldier Life During The Civil War The camp life for a soldier was hardly one to be desired. ?The weather was hot and the water was bad, yet the men kept in good spirits, and there was no grumbling at the hard drill and harder work(Ratchford, 11).? The weather varied a lot during the Civil War. At times it would snow up to depths of eight inches and sometimes it would rain and hail for hours on end(Russell, 130). Other times it would be very hot. Sometimes when it would rain, soldiers would wake up half submerged(Brown,122). Death was also a major fear during the Civil War. ?We cook and eat, talk and laugh with the enemies dead lying all about us as though they were so many logs(Brown, 115).? The soldier would march threw battlefields where dead men, horses, and smashed artillery were scattered about in utter confusion; the Blue and the Gray mixed-their bodies so bloated, distorted, and discolored from decomposition, that they were basically unrecognizable(Mohr, 326). There was also the duties of the officers. ?Often when a detachment was on scout, there were no men left in camp to release the pickets, and they had to remain on post for seventy-two hours at a stretch(History of the Service, 129).? Marching, shooting, charging, scouting; they were all hard assignments, but they were important to the war. There were times when troops had to charge for ten miles to get to towns to protect them(Mohr, 326). Troops often woke up before daylight to march and sometimes they would just march right back to where they started(Brown, 120). There were also times when troops would march a couple of hundred yards and end up marching back the next day. It sounds as though there was a lot of unnecessary marching. There was also a lot of unnecessary shooting. There would be picket lines shooting all day every day and the occasional canon shot(Brown, 118). Sometimes there would be picket firing going on into the night(Mohr, 324). ?Shelling don't scare us as it used to and if they pass us before they burst there is no danger in them. All they do is to make men bow their heads as it passes over(Brown, 116).? Food is essential in every day life, and it is very difficult to live without. ?Little chance to feed and eat(Mohr, 324).? Food was not always very abundant during the civil war. Food was sometimes stolen from citizens or even from the enemy. ?I took 30 men today and went on a scout to the left of our Army, to drive in some cattle near the Yanks picket lines-I went about seven or eight miles-found the cattle in a large field and succeeded in getting 20 head of them, and some of them I got within 200 yards of the Yanks vidette line. Brought the cattle all in and got back just before night- making a complete success of the trip and got no one hurt(Brown, 123).? There were also times when enemy's would trade goods. There would be Rebels on one side of a river and Union troops on the other side and they would arrange to meet and trade newspapers, salts, coffee, and tobacco(History of the Service, 129). Medical help was a problem if you got hurt. The basic treatment for a gun shot wound was to let it heal on it's own or cut of the part that got shot. It was very unlikely to live after being shot. ?A finger or two were removed, the broken bones were adjusted, and