Death Comes for the Archbishop: Not a Novel :: Death Comes for the Archbishop

Death Comes for the Archbishop: Not a Novel If someone felt compelled to classify Death Comes for the Archbishop as a type of novel, the most likely candidate would be a regional novel. Clearly, the setting and local color of this work make the region a critical component. However, before classifying the work as a type of novel, it must be determined whether it is a novel or, as Miss Cather has asserted, a narrative. Based on the structure and content of the book, it does not meet the classical definitions of novel and plot, so would lend itself more accurately to Miss Cather's classification. The simplified definition of novel given in A Handbook to Literature is "an extended fictional PROSE narrative" (335). By this definition, Cather's book would qualify as a novel. But there is a great deal more to a novel than this definition implies. The handbook expands by stating: "some organizing principle-PLOT, THEME, or idea-should be present in a . . . a novel" (335). Cather's book has an idea - to illustrate the historical, regional and cultural context in which two European priests perform missionary work in the desert of the American Southwest in the last half of the nineteenth century. This idea does not constitute a plot. Aristotle maintained that a plot should create a whole with "the structural union of the parts being such that, if any one of them is displaced or removed, the whole will be disjointed and disturbed" (Holman/Harmon 377). The structure of Death Comes for the Archbishop is made up of a series of episodes consisting of the experiences of two missionary priests, and legends of the region, such as Our Lady of Guadalupe. Would the whole become "disjointed or disturbed" if some of the stories or legends were removed or rearranged? No. The work would lose some of its richness, but the whole would not become incomprehensible. I believe Willa Cather perceived this work as a narrative rather than a novel because it lacked what is traditionally considered a plot. The work's narrative form is reminiscent of a journal, and had it been written in the first person instead of third, it probably would have been classified as a journal narrative rather than a novel.

Caring About Our Environment Essay examples -- Environment Ecology Nat

Caring About Our Environment Improving and maintaining the earth’s environment is becoming a more important task every day of our lives. Due to ignorance and frequent carelessness, this important task is quickly becoming a critical one. For this reason, I took it upon myself to construct a strategic plan to enlighten my peers to the problems of our environment. I did this in hopes that it would encourage everyone to act responsibly towards improving and maintaining the environment. With ongoing threats to the earth’s water supply, atmosphere, and surface, I found it necessary to devise a method of environmental enlightenment. I plan to apply this method at my place of academic study, The University. If supported by the faculty and staff and approached with confidence and determination by the student body, I am convinced that our environment on campus would undergo a drastic improvement. As a nation, we are facing many different problems with our environment. Two of the most important focuses are conserving our water supply and protecting the ozone layer. These two ...

kafka Essay -- essays research papers

Mistreatment from the 1800’s is Still Reflected in Modern Day Society   Ã‚  Ã‚  Ã‚  Ã‚  Ã¢â‚¬Å"The father’s explanations were to some extent the first pleasant news that Gregor got to hear since his imprisonment.† (p. 1654) In the story The Metamorphosis, by Franz Kafka, the character Gregor undergoes a metamorphosis into an insect and experiences what it’s like to feel imprisoned and mistreated within his own home. Throughout the story he continuously is mistreated by his family and sadly still reflects modern day families and society.   Ã‚  Ã‚  Ã‚  Ã‚  Gregor family consisted of his father, his mother and his sister Grete. Before Gregor had turn into an insect he was the main provider of income and covered all expenditures for his family. Gregor was the only person that worked in his family and was a traveling salesman. Therefore, his parents and sister stayed at home and did nothing while Gregor worked everyday. Kafka describes Gregor’s father as having an â€Å"†¦unsuccessful life† and â€Å"he had grown very fat, becoming rather clumsy.†(p. 1655). His father at one point owned his own business but it had collapsed five years earlier from the day of Gregors transformation. However his father still remained to have a strong sense for business. His mother was lazy and found to be less intelligent then the rest of the family. She also was not working. Kafka states, And perhaps the old mother go to work-she, who suffered from asthma, who found it strenuous just walking through the apartment, and who spent every other day on the sofa grasping for air by the open window? (p.1655). His sister was seventeen, kind to Gregor, beautiful, and musical. She played the violin. Grete soon took over as head of the house hold when Gregor turned into an insect.   Ã‚  Ã‚  Ã‚  Ã‚   With Gregor’s transformation thus brings about the problem of who’s going to now provide for the family. This problem then brings upon mistreatment towards Gregor. Many times throughout the story he is forgotten about, attacked, and made to feel dehumanized and no longer apart of the family. In the beginning of his transformation Grete is the only one who takes care of Gregor. She feeds him twice a day and tries to make sure his food is of his liking. His mother in the beginning seems to still care for him but however, cannot bear to look at him or enter the room. The fat... ...ought about others and truly cared about others happiness. However many times he felts pressured by his family to work and feels that helpless and guilty when he can no longer provide for his family. To me this is way he transforms, because he is so pressured he fears it so much that it’s almost like he willed it to happen. I feel this could have all been avoided. I feel that Gregor should have left his family and started his own life and paid for his own bills. His family did not appreciate him and all that he provided for them so there was no need to put himself under that kind of pressure.   Ã‚  Ã‚  Ã‚  Ã‚  I felt The Metamorphosis, by Franz Kafka, proved to be an excellent science fiction writer through the use of details. â€Å"His many legs, wretchedly thin compared to his overall girth, danced helplessly before his eyes† (p. 1641); this is just one of many example that Kafka uses detail to help the reader visualize Gregor as an insect.   Ã‚  Ã‚  Ã‚  Ã‚  Overall this story provides ideas and activities of society during the late 1800’s and modern day life still today. Because of pressure from society and our families we tend to mistreat those around us.

Real Choices at Starbucks

Real Choices at Starbucks Starbucks started as small coffee shop in a tourist area called Pikes Place Market in Seattle. The three unknown pioneer of Starbucks wanted to share their passion for brewed coffee and tea. During their first year in the business, they experimented with all sorts of coffee blend until they came up with their own flavor. Their business became an instant success using the word of mouth selling brewed coffee cup by cup. This is what inspired them to open a second store to target the wider market. By the early 1980’s, Starbucks expanded to four new stores in Seattle area.Since then, they became the largest retail company in the world. This coffee company grew from four Starbucks store to having currently 16,635 stores globally including 11,068 in the United States, 1000 stores in Canada, and more than 800 in Japan (Salomon 271). This amazing expansion can be attributed to Howard Shultz’s dedication to brewing coffee who bought the coffee’s trademark twenty five years ago. The main reason Starbucks has done so well for four decades can be attributed to their commitment to high quality products and passion for educating customers to appreciate the qualities of fine coffees.Strength Starbucks has become a popular company for selling the best tasting coffee products around the world. As a result, everyone saw Starbucks as the biggest and best in the business (Higbee 6). They acquired a solid brand reputation and have a world renowned company logo. There are no other national coffee bar competitors in the same scale as Starbucks. They are the only competitor in the coffee business that has a recognized brand image. They also own trademarks, copyrights, domain names, patents. The current SEC filing of Starbucks shows that the company is in a positive financial condition.The company’s total revenue for the first quarter of fiscal 2012 had increased sixteen percent and the net income was up more than ten percent (Smith , http://wallstcheatsheet. com/). This result was primarily driven by increase revenues from company-operated stores, licensed stores, and CPG foodservice contributing to approximately $3. 44 billion (http://investing. businessweek. com/). The overall areas of Starbucks business, from domestic and international retail operations to the company’s specialty businesses delivered strong financial performance, and innovation was the reason for the success of the company’s operations.The statement below shows the current financial status of the company as of January 1, 2012. Financial Statements Results of Operations (in millions) Revenues Quarter Ended ___________________________ Jan 1, Jan 2 % 2012 2011 Change _________ ________ ________ Company-operated stores $ 2,731. 8 $ 2,451. 3 11. 4% Licensed stores 306. 6 254. 3 20. 6 CPG, foodservice and other 397. 245. 3 62. 0 Total net revenues $ 3,435. 9 $ 2,950. 8 16. 4% Weakness Even though Starbucks has strength to stay in the business, it also has a few weaknesses. Starbucks must deal with these weaknesses in order to remain as a competitor in the retail market. One of the company’s most prevalent obstacles is the price they charge for a cup of coffee.While most people consider Starbucks coffee as a luxury and would pay whatever price is set, there is an increasing opinion that Starbucks charges too much (Higbee 7). Sometimes it is difficult for a company to penetrate the mass market with the prices above market averages. While this weakness may not come to reality in the short term, it is possible that this company is somewhat maturing since they have grown so rapidly penetrating the U. S. market. Opportunities Opportunities present themselves when it comes to Starbucks business strategy which provided the options to strengthen its retail market.Starbucks would not be able to effectively compete with its competitors if it not with these opportunities. They continued their quest by expanding i ts retail operations and sales. They pursued other opportunities by introducing new products and develop new channels to stay on top. Starbucks is in great position to expand its global business more that they already have. Since they expanded to Europe, Canada, and Japan, they enjoyed much success in these countries and their future plan is to open more Starbucks in Asia, Latin America, and the Far East.Starbucks also created numerous partnerships that will ensure its longevity for a long time. Formed a partnership with Pepsi Company and created a coffee type bottled drink called Frappucino. These Frappucino bottles were currently being sold in shops, grocery stores, and convenient stores. This drink has grown in popularity in the past that it was labeled by the consumers as â€Å"the coffee on the go† (Higbee 6). In addition, Starbucks also partnered with Target that pave the way to opening a coffee shop inside the shopping center. ThreatsOne of the major threats to Starbuc ks is their competition with other coffee chain, such as Coffee Bean and Peet’s Coffee. Other companies, such as McDonalds, Dunkin Donuts, and Burger King already have the infrastructure in place and are instead adding quality coffee to their menu to compete with Starbucks (Higbee 8). But for one thing, many people enjoy buying coffee even though it is pricey because of the environment and experience that allow people to enjoy, relax, and mingle while sipping a cup of coffee. Other threats to Starbucks are the gas station and restaurants industry.Many people are in the habit of buying breakfast and coffee at the local gas stations such as 7 Eleven. This practice is done mostly out of habit, but also for convenience especially for morning paper paired with a cup of coffee before going to work. Many consumers are also attracted by the convenience and the economics of the big mug cup of coffee they can obtain. Other consumer concerns are the trend towards more healthy ways. More and more people are becoming aware of the risk in consumption of caffeine. Too much caffeine can produce restlessness, nausea, headache, tense muscles, sleep disturbances, and irregular heartbeats.Caffeine can also increase the production of stomach acid that causes acid reflux. And finally, the price of coffee is so volatile that it remained as the biggest complaint by its customers. Recommendation Starbucks has created such a strong corporate culture and strong work values that it allows a company to successfully engage in product diversification. However, amongst the first thing that Starbucks needs to have is to define their brand image by lowering the coffee prices. It needs to be conveyed to the market in a precise manner, so that there would be no confusion amid Starbucks customer complaints.This is vital if Starbucks wanted to maintain its domestic market share competing with the likes of McDonald, Dunkin Donut, and Burger King. They must resolve all the consumer concerns s o that they can embark on another project with smooth transition. Conclusion Overall, as long as Starbucks maintains and promotes a strong quality product without deterring from its corporate-level strategy, it will always have number of opportunities ahead. There is a very strong base for this company which will allow it to pursue desired avenues with aggressiveness and confidence. Works CitedSalomon M, Marshall G, Stuart E, Marketing: Real People Real Choice 7th Ed. P. cm. Higbee J, Liaw Z, Ting C, Tjho K, Ton M, The Future of Starbucks, http://www. mcafee. cc/Classes/BEM106/Papers/2008/Starbucks. pdf Smith G, Cost of Coffee Could Squeeze Starbucks, http://wallstcheatsheet. com/stocks/cost-of-coffee-could-squeeze-starbucks. html/ United States Securities and Exchange Commission, FORM 10-Q, http://investing. businessweek. com/research/stocks/financials/drawFiling. asp? docKey=137-000119312512032427-56VATRT3JVABGO7FIGIBD5RTCJ&docFormat=HTM&formType=10-Q#D270627D10Q_HTM_TX270627_3

Unit 208 Support Children and Young Persons Health and Safety

Level 2 Certificate in Supporting Teaching and Learning in Schools Unit 208 Support children and young people’s health and safety Written Questions 1. 1 Give examples of how current health and safety legislation, policies and procedures are implemented in your school The Health & Safety Act 1974 – Under this act individuals in any organisation are required to ensure that they report any hazards, follow the schools safety policy, make sure their actions do not harm themselves or others and use any safety equipment that is provided. There are posters that explain the employers and employees responsibilities throughout Longford Park Primary School to remind everyone how to comply with the act. My school complies with the act by ensuring any hazards are reported to Mr Provaker, the caretaker. By having cleaners coming in daily to ensure all areas of the school are clean and tidy. All equipment is stored in a locked cupboard. Fire evacuation procedures are displayed throughout the school in each classroom. Safety equipment is used by staff, for example staf on playground duty wear high visability vests and carry first aid kits. Food Hygiene Legislation 2006 – Covers the safe preparation and storage of food. All of the cooks, kitchen and serving staff at Longford Park Primary School comply with this by holding an up to date food hygiene certificate and having annual re-tests. There are posters in the kitchen reminding staff of good practice – i. e which colour chopping board to use for which food and how to store food in the fridge correctly. Risk Assesment – This is to identify potential hazards to staff and children, the risks are evaluated and steps to minimize the possibility of the situation arising are set out, Theses are done for day to day activities in all areas of the school and for new activities such as school trips. My school complies with this by carrying out risk assessment for activites during lesson planning and recently when all the children at Longford Park Primary School went to the local theatre to watch a pantomime, a through risk assessment was done before hand. COSHH 2 Regulations 2002 – Longford Park Primary School complies with this by keeping all COSHH items in a locked cupboard by the staff toilets. Data Sheets for all the chemicals are displayed on the wall in the cupboard. Al items are stored out of reach of the children and in its original packaging. Protective clothing such as gloves, masks and goggles are provided when nessecary. The key for the cupboard is kept with the caretaker, Mr Provaker. Every Child Matters – This has 5 outcomes: 1 – Be Healthy 2 – Be Safe 3 – Enjoy 4- Postive 5 – Economic Longford Park Primary school promotes these outcomes by promoting healthy eating; the children had a piece of fruit during their morning break, by teaching children how to keep themselves safe from accidents and harm i. e – An assemble to inform about the dangers of fireworks, no running in corridors, how to safely carry scissors. They children do an exercise video called Activate first thing in the morning whilst the register is being taken and a cycling proficiency course is offered to all children in year five. Fire Procedures – Longford Park Primary School has procedures tor evacuationg all areas of the school during a fire, the escape route and assembly points is displayed on an Action Plan in all classrooms, corridors and other areas of the school. The schools fire alarm system is checked weekly and a fire drill is carried out every term, the fire drill is recorded and then evaluated to detertime if it could be done better. Emergency exits are clearly marked, in my classroom the fire exit is the door that leads directly out to the play ground. Health and Safety (First Aid) 1981 – Longford Park Primary School complies with this by keeping well stocked first aid boxes on the teachers desk in each classroom and are carried by playground supervisors. Designated first aiders are appointed and suitably trained with a list of all first aiders on display in the staff room so that all staff know who to refeer to if a child has an accident, all accidents are recorded in the accident book. 1. 1 continued ————————————————- 1. 2 How is health and safety monitored and maintained in your school? (Describe) The Health and Safety representative, Mrs Walker carries out regular checks by walking around the school and outside areas * Weekly staff meetings are used to address and health and safety concerns * Equipment, material and the environment are checked and any hazards are identified and removed * Lunchtime supervisors m onitor health and safety in the dining hall and in the playground looking out for risks and removing or minimising them or reporting them. * Hand washing facilities are available outside every classroom and children wash their hands after being outside. Boxes of tissues on each table help to the the spreading of germs when coughing and sneezing. * All electrical and fire extinguishers are checked annually by a qualified person and a label is stuck on the checked equipment with the date it was tested. Only equipment that has been checked and has a label should be used. * Food hygiene procedures are in place for cooks, kitchen and serving staff. 1. 3 How people in my school are made aware of risks & hazards and encouraged to work safely (Describe) ————————————————- 1. Identify the lines of responsibility and reporting for health and safety in your school. Head Teacher, Mandy Walker or Deputy Head Mina Provarker has ultimate responsibility for Health and Safety in school. The Health and safety officer at Longford Park Primary School is Mr Provarker and is responsible for monitoring Health and Safety by carrying out routine inspections or equipment and premisis and for ensuring everyone is aware of the procedures for reporting and recording hazards. The Caretaker; Mr Provarker is responsible to dealing with and removing any hazards. All staff and students are responsible for reporting health and safety issues such as hazards and accidents. Students would report issues to a suitable member of staff according to the nature of the issue. 3. 1 Outline the importance of taking a balanced approach to risk management Children should learn to be able to take some risks and most activities will carry some element of danger but they should be given the opportunity to assess risks for themselves by exploring and by challenging themselves and by discussing risks and safety. Childrens safety is important but we need to be careful not to be over protective or they may be prevented from assessing risks, exploring and learning, discovering the world around them or recognising their own limitations. If childrens experiences are limited due to an adults anxieties they are more likely to find it difficult to asses and manage risks as they develop and may not feel confident when trying new things. Think of 2 examples of activities in your placement where there is an element of measured risk. How does the risk involved balance with the learning experience? Example 1 Example 2

A Case Study: Dispatches from the War on Stress

Situation This article discusses the global effects of workplace stress. In this day’s business world, employee’s psychological health is overshadowed by the need to meet numbers and expectations. With a higher demand to meet goals, along with the increased pressure from competing firms, companies have been distinctively increasing employee workload; which in turn, produces a build-up of work-related stress for the employee. As a result, more cases of employee dissatisfaction and burn-out are amounting and becoming more apparent. Many companies are now tackling this growing issue of stress with different thoughts and methods to help reduce it for a more effective and happy employee. Key Issues Mark Ostermann, Chicago office of Boston Consulting Group. Mr. Ostermann was a case at which work-place stress has resulted in him to put excessive hours (60+) for a month and a half straight in order to finish a project. Luckily, the â€Å"Red Zone† police (a group created by the company to help with employee satisfaction) was able to intervene before the stress became unbearable. Not much later, Ostermann was within an action plan to solve his overwork problem. In no time, more people were added to his team to divide the work along with better managerial support. Renault automaker. In the course of five months, three engineers committed suicide who left notes stating about their unreasonable work-loads, immense work-place pressure, and humiliating criticisms in front of colleagues. Known for setting grand targets to boost sales, Renault has acknowledged the pressure put on their employees and committed a plan along with $10 million to alleviate workplace stress. In addition, the company began to train managers on how to avoid negative stress along with psychologists to help educate senior executives. The company also has put an effort to set up more places for socializing and relaxation. Problem There is no question that the workplace is a very stressful place. Most companies who are under a lot of pressure to meet goals are constantly striving to meet these achievements. As a result of the goals set by senior executives, the stress is burdened on the shoulders of the employees. The roblem is not work-stress, but the global lack of prevention of â€Å"over stressing† and lack of knowledge in identifying and managing it. It is the case with Renault Automaker, when it took the deaths of three engineers due to work-related stress before setting a program to alleviate work-related stress. In the case of Mark Ostermann, adequate knowledge in identifying stress by the â€Å"Red Zone† team prevented further development of unwanted con sequences in relation to his project. Alternative Solutions Work-related stress is inevitable, but may be alleviated and contained to a minimum by doing implementing a number of programs. 1. Impose mandatory relaxation and social time during the work day. In the recent cases of Toyota Co. recalling vehicles for numerous â€Å"manufacturing defects†, part of the blame has been pointed towards the Toyota Japan’s work ethic (Holt 2010). Workers for Toyota Japan often put in 60+ hours per week, have shorter break times. 2. Provide better training for managers about psychological stress. Often the problem lies within the inability of managers to spot employees who are experiencing an extraordinary amount of stress. From the ability to realize work-stress to their ability to criticize others, added training can benefit the entire workplace. . Provide onsite programs geared toward stress management. Many companies have resorted to onsite programs to help with stress management (Clabaugh 2009). Resources vary from onsite massage stations, yoga lunch breaks, to onsite oil changes. Selected Solution Knowledge is power. It ensures that the more we know, the more we ca n manipulate it. Providing better training for managers about stress management and the effects of psychological stress can effectively reduce the amount of extraordinary stress on employees within the workplace. Companies strive to achieve higher goals and to get the most â€Å"work† from the employees. Better training in stress management helps set reasonable goals as to maintain efficiency and prevent over-working. With better training, managers will be more likely to notice individual employees experiencing symptoms from over-work. Much stress from the workplace also comes from demeaning criticisms and fear of â€Å"the boss†. Training for managers on effects of psychological stress can help managers choose their words wisely as to reflect the issue at hand without creating a stressful encounter. Case Questions 1. This case study describes various ways that companies try to manage workplace stress. Referring to the types of stress management strategies described in this chapter, which approaches are applied most and least often? In this case study, the strategy applied most is the provision of â€Å"workplace de-stressors†. General Mills provides in-house personal services to help maximize employee time with social and familial aspects of their lives rather than using off days to do errands. From this study, the least used is a survey method to assess stress as mentioned by IBM computers. 2. What stress outcomes are mentioned in this case study? What stressors are noted in association with these stress outcomes? One of the stress outcomes which was mentioned was suicide. Leading to suicide, the engineers left notes stating the insurmountable amount of stress burdened onto them by high workloads, high-pressure management tactics, humiliating criticisms, and exhaustion. 3. Some of the stress problems described in this chapter refer to winning or losing in performance management. Why would the risk of failing to achieve performance goals result in such serious stress outcomes? Most individuals strive for acceptance, especially in the work place. Failing to achieve performance goals brings about the feelings of inadequacy and humility for many. In most cases, employees strive to do their best at the expense of personal time and family in order to earn achievements in the work place. Not being able to reach goals can be detrimental to one’s psyche. References Mueller, C. (2005, December 19). Stress Management In The Workplace: Handling Work Stress. Retrieved March 14, 2010, from http://ezinearticles. com/? Stress- ¬Management- ¬In- ¬The–Workplace:- ¬Handling- ¬Work- ¬Stress&id=115473 Clabaugh, J (November 2009). Employers tackle on-the-job stress. Retrieved March 14, 2010 from Washington Business Journal

Adoption of Islamic Banking Essay

The intention of the study is to identify the benefits which could be drawn in Adoption of Islamic banking by conventional banks and to determine the challenges they are going to face in the adoption. The 60 respondents from various conventional, non-Muslim banks have been chosen through simple random sampling. The result of the survey for the questions regarding the awareness of the local people was considered positive in Edgware Road, London. They were mostly familiar with Islamic banking since there is already established Islamic bank in the area. The first branch of The Islamic Bank of Britain was in this area. It was also found out that a good portion non-Muslims are aware about the features of Islamic banking. A number of these non-Muslim respondents were also found to be employees of Islamic banks. The fact that Islamic Bank of Britain employs the best person for the job regardless of color, creed, gender, and ethnicity, the system makes it more familiar to non-Muslims. It may be concluded that although Islamic banking is a good alternative to the conventional banking system, it should not replace the conventional system. The benefits drawn in the adoption of Islamic banking may be a very good alternative for investors who could use either or both systems to maximize the outcome of their investment plans. Chapter 1 Introduction 1. 1 Introduction What is Islamic Banking? Islamic Baking is quite a different system compared to a conventional banking system. The Islamic banking system prohibit usury and interest categorized as riba. It is governed by Shariah where Islam does not distinguish interest and usury (Haron 1995, p. 26). Currently, there are more than 150 interest-free institutions all over the world according to the International Association of Islamic Banks. Islamic banks nowadays were also serving non-Muslim countries such as Denmark, Switzerland and other Western countries. No interest is paid nor charged in an Islamic Bank. (Haron 1995, p. 26). The pioneer Mit Ghamr Local Savings Banks was established in 1963, somewhere in Nile Delta, Egypt, a provincial rural center. Although most of the banks operate in Muslim countries, it was also extended to the Western world. An example is the Islamic Banking System International Holding which was established in Luxembourg in 1978. It is considered as the first Islamic bank in the Western soil. The establishments of these banks were followed by other Islamic banks not only serving Muslim customers but also those who expanded their operations to service non-Muslims (Haron 1995, p. 27). After more than a decade since its establishment, it was estimated that over US$20 billion to US$40 billon of assets existed in the Islamic banking system worldwide. Currently, they have grown for more than US$60 billion. A study shows that the adoption of Islamic Banking in a financial system has not led to collapse as some feared to happen (Ghannadian & Goswami 2004, p. 242). Islamic banking is also playing a very important role in resource allocation, mobilization and utilization. It means Islamic banks are also providing savings to depositors and credits to the needy. Normal deposits such as savings account, current account and investment deposits are very available to customers. Islamic banks provide financial assistance in a short or long term business and individuals. They are also involved in international trade activities (Haron 1995, p. 27). 1. 2 Research Background It is difficult to pinpoint when Islamic banking started, but consensus suggests that it took place in Egypt in the 1960’s. In the mid 1970’s, Islamic banking started to take root in other Muslim countries. The changes were explained into main factors. First, the 1970s have seen oil price shocks which led to a massive transfer of wealth for the oil-consuming to oil-producing countries. Second is the fact that the oil shock coincided with the Iranian revolution which brought about the Khomeini government and the first Islamic republic (Akacem & Gilliam 2002, p. 126). By 2003, there were about 176 Islamic banks around the world, handling over US$ 147 billion and 32 banks are in an Arab state (Info Prod Research, 2003). This form of specialized banking may help to promote growth in the developing countries (Ghannadian & Goswami 2004, p. 242). As recent as 2003, there have been news about the introduction of Islamic hedge funds which could tap into the capital of Islamic families that could be worth a trillion dollars in asset management. According to banking statistics, the growth rate of Islamic banking has outpaced the growth of traditional banking in the past decade. Transformation Oriented Developing Economies (TODEs) made the transformation of society into full pledged market based economies (MBEs) a centerpiece in overall strategies. Many structural changes are required in its financial institutions, especially that the role of a financial intermediary in supplying funds to a growing new industry is crucial. Moreover, there are times when improper resource allocation may potentially result destabilization due to either faulty risk assessments. Or because of the design of its contract could be significant in examining the implementation of an Islamic banking system and how Islamic banks can provide liquidity and aid in creating money. This is through offering transactions accounts with compensation for inflation to risk-avoiding depositors (Ghannadian & Goswami 2004, p. 242). Evolution of Islamic The first modern experiment with Islamic banking was undertaken in Egypt. The pioneering effort of projecting Islamic image was led by Ahmad El Najjar who aimed to establish a savings bank based on profit-sharing in the town of Mit Ghamr in 1963. This experiment lasted until 1967, and by that time there were nine banks operating in the country. These banks neither charged nor paid interest and invested mostly in trade and industry directly or in forms of partnership and shared their profit with the depositors. This function is essentially a savings investment institution rather than a commercial bank. The Nasir Social Bank was established in 1971, IDB established in 1974 by the Organization of Islamic countries, and was the primarily inter-governmental bank aimed at providing funds for development projects in member countries (Sohrab 1996, p. 287). In considering the adoption of Islamic banking by conventional banks, what kind of benefits may be drawn from such adoption and the challenges they are going to face in undertaking such? Most benefits that may be drawn from the adoption of Islamic banking by conventional banks come from the features of its equity financing contract. With Mudaraba (trustee financing) and Musharaka (equity participation), entrepreneurs with little means and substantial collateral are able to gain access to capital (Sohrab 1996, p. 288). In addition, few businesses are able to operate strictly on cash basis without taking on debt or selling a portion of the business just to cover shortfalls or when there is a need for expansion (Bartlett & Economy 2002, p. 184). Because of this, it will be more attractive to engage into Islamic bank equity financing than that of conventional banks offering debt financing thus, making Islamic banking more competitive with regards to innovative entrepreneurial customers.