The Human Genome Project: Advantages and Disadvantages

The Human Genome Project: Advantages and Disadvantages The Human Genome Project was an international research effort to determine the sequence of the human genome and identify the genes that it contains. After the idea was picked up in 1984 by the US government when the planning started, the project formally began in 1990 and was completed in 2003, 2 years ahead of its original schedule. The Project was coordinated by the National Institutes of Health and the U.S. Department of Energy. Additional contributors included universities across the United States and international partners in the United Kingdom, France, Germany, Japan, and China. Goals The main goals of the Human Genome Project were to provide a complete and accurate sequence of the 3 billion DNA base pairs that make up the human genome and to find all of the estimated 20,000 to 25,000 human genes. The sequence would act as a template for the annotation of genes discovered in the future: if a geneticist found a novel gene that increases the risk for breast cancer, for instance, she should be able to decipher its precise location and sequence by mapping it to the master sequence of the human genome. By comparing abnormal genes to the normal genes in the template, the geneticist would be able to map the mutation responsible for causing the disease. Benefits The potential benefit of a comprehensive sequencing effort was highlighted by the isolation of disease-linked genes such as Huntingtons disease, Cystic Fibrosis, and the most common breast-cancer-associated gene, BRCA1. The one-gene-at-a-time approach was very inefficient and laborious. It only worked for monogenic diseases. But most common human diseases are genomic polygenic diseases caused by multiple genes spread diffusely throughout the human genome. Cancer and mental illnesses are examples of genomic diseases. Public versus Private Approaches In 1998, a similar, privately funded quest was launched by the American researcher Craig Venter, and his firm Celera Genomics. Venter was a scientist at the NIH during the early 1990s when the project was initiated. The $300,000,000 Celera effort was intended to proceed at a faster pace and at a fraction of the cost of the roughly $3 billion publicly funded project. Celera used a technique called whole genome shotgun sequencing, employing pairwise end sequencing, which had been used to sequence bacterial genomes of up to six million base pairs in length, but not for anything nearly as large as the three billion base pair human genome. Celera initially announced that it would seek patent protection on only 200-300 genes, but later amended this to seeking intellectual property protection on fully-characterized important structures amounting to 100-300 targets. The firm eventually filed preliminary (place-holder) patent applications on 6,500 whole or partial genes. Celera also promised to publish their findings in accordance with the terms of the 1996 Bermuda Statement, by releasing new data annually (the HGP released its new data daily), although, unlike the publicly funded project, they would not permit free redistribution or scientific use of the data. Ultimately, Celera afreed to provide free access to academic researchers but with several important constraints. Although a working draft was announced on June 26, 2000 (jointly by U.S. President Bill Clinton and the British Prime Minister Tony Blair), it was not until February 2001 that Celera and the HGP scientists published details of their drafts. These drafts covered about 83% of the genome (90% of the euchromatic regions with 150,000 gaps and the order and orientation of many segments not yet established). In February 2001, at the time of the joint publications, press releases announced that the project had been completed by both groups. Improved drafts were announced in 2003 and 2005, filling in to approximately 92% of the sequence currently. The Book of Man It has 3,088,286,401 letters of DNA It is divided into twenty-three pairs of chromosomes. All other apes have twenty-four pairs. It encodes about 20,687 genes in total only 1,796 more than worms, and 12,000 fewer than corn. It is fiercely inventive. Gene regulation and gene splicing are used more extensively in the human genome than in the genome of other organisms. It squeezes complexity out of simplicity, produces near-infinite functional variations out of its limited repertoire. It is dynamic. In some cells, it reshuffles its own sequence to make novel variant of itself. Parts of it are surprisingly beautiful. An enormous proportion (about 98%) is not dedicated to genes per se, but to enormous stretches of DNA that are interspersed between genes (intergenic DNA) or within genes (introns). These stretches encode no RNA, and no protein. It is encrusted with history. It has repeated elements that appear frequently. It has enormous gene family genes that resemble each other and perform similar functions which often cluster together. It contains thousands of pseudogenes genes that were once functional but ahve become nonfunctional, ie, they give rise to no protein or RNA. It accommodates enough variation to make each one of us distinct, but enough consistency to make each of us different from other species. Its first gene, on chromosome one, encodes a protein that senses smell in the nose. Its last gene, on chromosome X, encodes a protein that modulates the interaction between cells of the immune system. The ends of its chromosomes are marked with telomeres. Like the little bits of plastic at the ends of shoelaces, these sequences of DNA are designed to protect the chromosomes from fraying and degenerating. Although we fully understand the genetic code ie how the information in a single gene is used to build protein we comprehend virtually nothing of the genomic code ie, how multiple genes spead across the human genome coordinaet gene expression in space and time to build, maintain, and repair a human organism It imprints and erases chemical marks on itself in response to alterations in its environment thereby encoding a form of cellular memory. It is poised to evolute. It is littered with the debris of its past. Gandhi: The Hindu-Muslim Gap Gandhi: The Hindu-Muslim Gap Introduction The opening years of the twentieth century were stormy. That was the time when the greatest catastrophe of history took place. The political scenario was undergoing a change. The British were beginning to feel a bit uneasy. Discontentment was brewing. Political discontent was growing due to the inability of the government to organize effective relief during the period of plague and famine. In order to stem the discontent, the British played the political trump card with great aplomb. For the first time, they used their divide-and-rule political game with great force. From 1870 onwards, the British started inciting the Hindus and the Muslims to form their own political parties to establish their distinct religious identities. That was perhaps, the beginning of the communalisation of politics. The British not only encouraged the two communities to form political parties along religious lines, they took various constructive steps to create a situation whereby Hindus and Muslims would be forced to think in a way as if their religious identity is at peril. This effort culminated in the partition of Bengal in 1905. The partition was made along communal lines. The British had realized that a united India was a strong India and thus they decided to separate Hindus and Muslims, the major population of India. As a result India would not be united and would remain weak. The British continued this strategy of divide and rule and finally India was divided. This policy left a deep impact on the Indians, the communal hatred between Hindus and Muslim is still prevalent and has taken a major form. This has resulted in many riots and caused major harm to life and property. Revolt of 1857 The British East India Company came to India as traders but slowly took over the rule in India and in no time the whole of India was under the British rule. India was the largest and the most important colony of Britain. They made immense profits in their rule, but they treated Indians as an inferior race. Indians were tortured and treated like slaves, they were forced to grow Indigo and as a result the cottage industries suffered a heavy setback. Slowly over a period of time Indians realized about their rights and got to know about nationalism. They also fought for freedom in numerous revolts, but all of them were crushed as the Indians were not united. Some of the famous revolts were the Santhal Rebellion, Indigo revolts and many more. These small revolts took shape of a national movement and emerged in the form of the revolt of 1857 https://mail.google.com/mail/images/cleardot.gif The greatest and the most widespread armed uprising which shook the foundations of the British rule in India was the Revolt Of 1857.The accumulating hatred against British rule which had resulted in numerous, though localized, outbreaks burst in a mighty rebellion in 1857.The dispossessed rulers of Indian states, the nobles and the zamindars who had been deprived of their lands, the Indian soldiers of Britains army in India and the vast masses of peasants, artisans and the others who had been ruined by British economic policies and had been rising up in revolts in their isolated pockets, were now united by the common aim of overthrowing British rule. The introduction of greases cartridges which showed the British rulers complete disregard of the religious beliefs of the Indian people provided the immediate cause of the revolt. The soldiers killed the British officers and marched to Delhi. They conquered Delhi and proclaimed the last Mughal emperor Bahadur Shah Zafar as the emperor of India. The rebellion spread like wild fire and the British rule ceased to exist over a vast part of Northern and Central India for many months. The major centres of the revolt, besides Delhi, where some of the fiercest battles were fought were Kanpur, Lukhnow, Bareilly and Bundelkhand. This victory was short-lived as British reconquered the states and Indian rule was back in the hands of the British. The revolt was over and now the power had been transferred from the British East India Company to the British Crown. The Queen had decided herself to take care of the Indian politics as she had realized that the conditions had become far worse than expectations. Many promises were made to the Indians regarding their welfare under the Queens Proclamation, but hardly any were followed. The conditions had not improved and the same tactics were used in a minor form. Rise of Indian Nationalism Nationalism is a sentiment based on common cultural characteristics that binds a population and often produces a policy of national independence or separatism. It involves the feeling of oneness and brotherhood for your own countrymen. The growth of Indian nationalism started in the nineteenth century. Political unification of India, fall of Indias old social and economic system, the beginning of modern trade and industry and the rise of new social classes laid the basis of nationalism. The social and religious reform movements and popular anti-British revolts contributed to the growth of nationalism. The farmers were suffering under the new land tenure systems introduced by the British government. The Indian industrialists were sad because of the economic policy of the British government. All import duties on cotton textiles were removed in 1882, which harmed the textile industry. The people of India became aware of the fact that the development of their country was not possible unless British rule was ended. There was a series of famines, which took a toll of millions of human lives, due to the indifference of the autocratic British administration. Indian Nationalism was broadly divided into three phases Moderate phase Radical phase Gandhian phase The Moderates advocated and used methods of Constitutional agitation for demanding reforms. They had faith in British and thought that the British would agree to their demands. They considered British just and kind. Some of the famous leaders were Dada Bhai Naoroji, Gopal Krishna Gokhale and Surendranath Bannerjee The Aggressive Nationalists had no faith in British rule, they thought that India could not progress under the British rule and freedom was necessary for their development. They believed that this could only be done by adopting aggressive methods. Some of the important leaders were Lala Lajpat Rai, Bal Gangadhar Tilak, Bipin Chandra pal and Aurobindo Ghosh The Gandhian Phase was led by Mohandas Karamchand Gandhi; he devised the methods of Ahimsa (non-violence) and Satyagraha (insistence on truth) to attain independence. He converted the Indian freedom struggle into a mass movement; Gandhiji played a very important role in the independence of India. Partition of Bengal The decision took effect the Partition of Bengal was announced in July 1905 by the Viceroy of India, Lord Curzon. The partition took effect in October 1905 and separated the largely Muslim eastern areas from the largely Hindu western areas. The reason behind the partition that was officially announced was that the Bengal province was too large to be administered by a single governor and therefore was partitioned on administrative purpose. But the real reason behind the partition was political and not administrative. East Bengal was dominated by the Muslims and West Bengal by the Hindus. Partition was yet another part of the Divide and rule policy. Indians were outraged at what they recognise as a divide and rule policy, where the colonisers turned the native population against itself in order to rule. This partition provided an impetus to the religious divide and rule, as a result of that, All India Muslim League and All India Hindu Mahasabha was formed. Both the organisations aimed at fanning communal passions. Muslim League The All-India Muslim League was a political party during the period of the British Rule which advocated the creation of a separate Muslim-majority nation. Being a political party to secure the interests of the Muslim diaspora in British India, the Muslim League played a decisive role during the 1940s in the Indian independence movement and developed into the driving force behind the creation of Pakistan as a Muslim state in the Indian subcontinent. Muslim League was a political organization of India and Pakistan, founded 1906 as the All-India Muslim League by Aga Khan III. Its original purpose was to safeguard the political rights of Muslims in India. By 1940, under the leadership of Muhammad Ali Jinnah, it had gained such power that, for the first time, it demanded the establishment of a Muslim state (Pakistan), despite the opposition of the Indian National Congress. During World War II the Congress was banned, but the League, which supported the British war effort, was allowed to function and gained strength. It won nearly the entire Muslim vote in the elections of 1946. The following year saw the division of the Indian subcontinent and the Muslim League became the major political party of newly formed Pakistan. By 1953, however, dissensions within the League had led to the formation of several different political parties Hindu Mahasabha Separate Electorates Separate electorate is a system of election to legislatures which divides voters along the lines of their religion or ethnicity; designed to ensure that each religious or ethnic group can elect their own representatives. In the case of separate electorates, the voting population of a country or region is divided into different electorates, based on certain factors such as religion, caste, gender, and occupation. Here, members of each electorate votes only to elect representatives for their electorate. It was used in India, prior to Independence, to guarantee representation for religious minorities. Separate electorates have been criticized as socially divisive, and for privileging one aspect of social identity above all others. In Indias pre-independence era, when the Muslims in India demanded fair representation in power-sharing with the British government along with the Hindus, the British government provided for a separate electorate system for the Muslims. As a result, of the total 250 seats of the Bengal Legislative Assembly, 117 seats were kept reserved for the Muslims. Efforts of Gandhi to bridge Hindu Muslim Gap One of the greatest contributions of Mahatma Gandhi was his unparalleled attempt at Hindu- Muslim Unity. Although he could not accomplish this task at the end still he fought for its realisation throughout his life. His always said Even if I am killed, I will not give up repeating the names of Ram and Rahim, which mean to me the same God. With these names on my lips, I will die cheerfully. He believed all religions to be true but not fallible. To Gandhiji Hindu-Muslim unity means unity not only between Hindu and Muslims but also between all those who believe India to be their home, no matter to what faith they belong. He believed that it was a criminal to quarrel over trivialities. Gandhiji knew that India could not attain freedom without Hindu Muslim unity, so he worked for the cause. To attain freedom India had to be united as one nation, they had to fight together for a common cause. He realized this and took advantage of this in the Khilafat issue. The Khilafat movement (1919-1924) was a pan-Islamic, political protest campaign launched by Muslims in British India to influence the British government and to protect the Ottoman Empire during the aftermath of World War I. The position of Caliph was in danger and Ottoman Empire existence was short-lived, but the Caliph was the religious representative of the Muslims so they decided to launch a movement against the British. The Khilafat Movement was launched under the Ali Brothers, Gandhiji decided to support this movement to win the support of Muslims. Gandhiji thus strived for Hindu Muslim unity and considered Muslims as his brothers. Hindu Muslim rivalry would cause partition of India which would result in a weak India, this was exactly what the British wanted. They wanted a weak and divided India as it would be easy to govern it. This partition would result in various riots and bloodshed, it would result in a divided India, thus Gandhiji was against the partition from the start Mountbatten Plan The actual division of British India between the two new dominions was accomplished according to what has come to be known as the 3 June Plan or Mountbatten Plan. Lord Mountbatten worked out a detailed plan for the transfer of power to the Indian people. It was announced at a press conference by Mountbatten on 4 June 1947, when the date of independence was also announced 15 August 1947. The plans main points were: Hindus and Muslims in Punjab and Bengal legislative assemblies would meet and vote for partition. If a simple majority of either group wanted partition, then these provinces would be divided. Sindh was to take its own decision. The fate of North West Frontier Province and Sylhet district of Bengal was to be decided by a referendum. India would be independent by 15 August 1947. The separate independence of Bengal also ruled out. A boundary commission to be set up in case of partition. The Indian political leaders accepted the Plan on 2 June. It did not deal with the question of the princely states, but on 3 June Mountbatten advised them against remaining independent and urged them to join one of the two new dominions (India or Pakistan). Rioting The British conquest of India was accompanied by large-scale violence, sometimes directed toward the Indian civilian population. During the colonial wars of conquest, there were mass killings, but few are remembered. Violence between Hindus and Muslims is one of the most publicized features of colonial Indias history. Some, particularly Indian historian Gyan Pandey, hold that its characterization as violence between religious communities was invented by colonial administrators in the 19th century, and that it misrepresented forms of violence which were in fact extremely complex. Others see in it a faithful reflection of the actual crystallization of communitarian identities based on religion, in response to certain colonial policies. Whichever is the case, Hindu-Muslim riots became a permanent feature of the Indian political scene in the first half of the twentieth century. The main reason for these riots were the divide and rule policy which had instigated everything. These riots we re hindrance in Indias independence because they made India weak and this is what the British wanted. If India was weak then their rule would become even stronger, as a result India was divided and Hindu Muslim riots are still prevalent. Finally Partition of India The British had laid their roots long ago, now the Hindu Muslim rivalry had become severe and Partition of India now could not be stopped. The partition of India was the partition of British India on the basis of religious demographics. This led to the creation of the sovereign states of the Dominion of Pakistan (later the Islamic Republic of Pakistan and the Peoples Republic of Bangladesh) and the Union of India (later Republic of India) which took place in 1947, on 14 and 15 August, respectively. The partition of India was set forth in the Indian Independence Act 1947 and resulted in the dissolution of the Indian Empire and the end of the British Raj. With the decision in favour of partition made, the parties next faced this nearly impossible task of fixing a border between the new states. The Muslims occupied two main regions in the north on opposite sides of the country, separated by a majority-Hindu section. In addition, throughout most of northern India members of the two religions were mixed together not to mention populations of Sikhs, Christians and other minority faiths. The Sikhs campaigned for a nation of their own, but their appeal was denied. On August 14, 1947, the Islamic Republic of Pakistan was founded.

A Critical Analysis of an Ethical Proposition Based

Ethical situations on the subject of killing and the sacrifice of human lives are always subject to critical analysis and intensive argumentation. The so-called sacrifice of the few for the good of the many is usually founded upon Aquinas’ Natural Law and Doctrine of Double Effect, both of which were logically formulated by the philosopher yet both also lend themselves to criticisms.Aquinas defines the Natural Law based on the Eternal Law. He formulated the Eternal Law in his Summa Theologiae and defines it as â€Å"the idea in God’s intellect by which He governs the world† (Magee, 1999). The Natural Law according to Aquinas is â€Å"humans’ participation in the Eternal Law through reason and will† (Magee, 1999).The Doctrine of Double Effect, on the other hand, is defined as a set of ethical criteria for evaluating whether one should do an act that would, in the process of producing a positive effect, also produce a negative effect (McIntyre, 2009). Our ethical proposition â€Å"It is always wrong to kill innocent people, even if you could save many other lives by doing so† is a rather weak proposition after it is analyzed with reference to Aquinas’ two aforementioned doctrines.Critical AnalysisWith Reference to the Natural Law. There are various different levels of precepts that the Natural Law entails. The first of which is â€Å"Good is to be done and pursued and evil avoided† (Magee, 1999).However, Aquinas has specified that a â€Å"good† thing is something â€Å"that we know immediately, by inclination†¦that [would] count as good and thus to be pursued† (Murphy, 2008). Aquinas specifies these things as life, knowledge, procreation, society, and reasonable conduct.First Precept. Applying the above precept to the given ethical situation, â€Å"It is always wrong to kill innocent people, even if you could save many other lives by doing so,† one can see that the whole proposition logically satisfies the first part of the precept â€Å"Good is to be done and pursued.† Both the act of not killing innocent people and saving many other lives are believed to be inherently good, that is, good in itself. However, the proposition might not in a way satisfy the second part of the precept â€Å"[that] evil [should be] avoided.†This is because the proposition implies a prohibition of killing innocent people, which, if done, would result in a possible non-fulfillment of the second part of the proposition: â€Å"You could save many other lives by doing so.† If many other lives are not saved, then this means one has allowed the evil of death to take lives away, thus evil is not avoided, which is the second part of the precept. In short, our proposition fails the first precept of the Natural Law.Second Precept. Another precept of the Natural Law is that it â€Å"commands that we preserve ourselves in being† and one thing that can be deduced fro m this is that one is required to â€Å"take care of [his life] and transmit that life to the next generation† (Magee, 1999).This may obviously refer to the goodness of procreation but it may not be necessarily the case because such a statement may translate to the preservation of the self for the benefit of the next generation. This precept on preservation may agree with the first part of the given ethical proposition: â€Å"it is always wrong to kill innocent people,† for the killing of people, whether innocent or not, opposes the idea of self-preservation. However, the second part of the proposition, â€Å"you could save many other lives by doing so, or by killing innocent people,† does not agree with the precept on preservation.The reason is that if you decide to preserve the lives of the innocent, then your action may result in the non-preservation of the lives of many others. This now serves as another proof of the weakness of the given proposition vis-à  -vis the precept of the Natural Law on preservation.With Reference to the Doctrine of Double Effect. The proposition, â€Å"It is always wrong to kill innocent people, even if you could save many other lives by doing so,† lends itself to more criticisms on the weakness of its argument when criticized with reference to the Doctrine of Double Effect.The doctrine consists of four conditions that must be met before one can declare an act morally permissible (McIntyre, 2009). And for this the proposition should be constructed into a conditional sentence: If one kills innocent people, it is wrong and hence presumed to be not morally permissible. Therefore the moral permissibility of the killing of innocent people will be evaluated vis-à  -vis the four conditions of the Doctrine of Double Effect. Furthermore, the claim of the proposition that killing innocent people is morally wrong under all circumstances will be logically investigated.First Condition. The first condition is the nature-of-the-act condition, which states that â€Å"the action must be either morally good or indifferent† (McIntyre, 2009). This may somehow oppose what we are intending to prove. It is indeed true that the killing of innocent people is not morally good nor is it morally indifferent.Second Condition. The second condition is the means-end condition, which states that â€Å"the bad effect must not be the means by which one achieves the good effect† (McIntyre, 2009).This is also a proof in favor of the proposition. If the goal is to avoid the death of many other lives, then it follows, according to the second condition, that death should not be meted out on innocent people just for the sake of the many others. Based on the second condition, death must not be utilized to avoid death. With the second condition, he proposition remains solid.Third Condition. The third condition is the right-intention condition, which states that â€Å"the intention must be the achieving of only the good effect, with the bad effect being only an unintended side effect† (McIntyre, 2009). It is now here that the proposition weakens.Based on the context of the proposition, the killing of innocent people, without any regard to the inherent morality or immorality of the act, has the intention of achieving only the good effect of saving many other people’s lives, thus making the killing of the innocent a morally permissible act. The bad effect, which is the death of the innocent, is anyway simply a side effect.Fourth Condition. The last condition is the proportionality condition, which states that â€Å"the good effect must be at least equivalent in importance to the bad effect† (McIntyre, 2009).Although there will always be a question about the exactness of such an equivalence of importance, the majority may agree that, in the proposition, the saving of the lives of many far outweighs the killing of the lives of but a few innocent people. This therefore dismisses the killing of the innocent as a morally permissible act and such an argument counters the proposition.

Why Absolutely Everybody Is Talking About High School English Essay Samples

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Project Management Management Structure - 2194 Words

Manage project definition activities A project governance is the management structure which project decisions are made. For example, the organization chart gives a good detailed description of who’s in charge of any operational activities and also the organisational. But unless an organization has already a legit project governance policy, there will be no chart that exists for project development activity. So the task of project governance is to form a decision making structure that is consistently governing an organization’s capital investments. The initiation part is actually the project start up. It is usually where the project problems or opportunities are identified and then a solution is agreed and then the project manager arranges to produce the solution and also project team selected. Once all that is done a Business Case is prepared. A project objective is a documentation of things to do to accomplish the project in timeframe before the due date. If there’s a problem they should directly address before it gets too late. They should be specific because it will make it easier to design activities to be done. Having a specific objectives can also help direct the problems stated and assure the sponsors easily. In project management a project charter it tells you information about the scope, objectives and the team members in the project. It provides detailed information about the roles and responsibilities of each team members and a summary of the project objectivesShow MoreRelatedProject Management Structure Paper862 Words   |  4 PagesRunning head: PROJECT MANAGEMENT STRUCTURE PAPER Project Management Organizational Structures Paper University of Phoenix MGT 437- Project Management Roy Chuang December 2, 2012 Project Management Organizational Structures Paper A project organization is a framework of rules and regulations that companies use to facilitate the harmony and finishing point of project activities. 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A Brief Note On Executive Compensation And Non Monetary...

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Law and Finance Money Launderings Laws/CDD Free Essays

string(84) " to understand their clients, put themselves at risk of significant financial loss\." Executive Summary In the recent times, new and innovative methods of funds transfer through electronic methods across the borders have increased. These have opened new opportunities for money laundering and financing of terrorism. With the recommendations made by the FAFT that the principle of Customer Due Diligence (CDD), conducted by financial institutions, be set out in law, a robust CDD system would be of paramount importance for financial institutions in the UK should FATF’s recommendations be implemented in the UK. We will write a custom essay sample on Law and Finance: Money Launderings Laws/CDD or any similar topic only for you Order Now Owing to globalization of businesses, a recommendable CDD team should comprise of human resources specialists, IT experts, law experts, financial experts, representatives in various countries along with functional area managers with a good understanding of various cultures. This would bring about effectiveness and efficiency in the application of CDD measures in the current world with the increased use of New Payment Methods. As such, a firm wishing to provide NPM as one of its services or products should ensure that it has the CDD team in place with various expertise. Introduction Recently, economics has witnessed money laundering alongside the issue of the financing of terrorism, among other issues. In correspondence to this point, the United Kingdom has played a key role in the international fight against money laundering through anti-money laundering (AML) legislation which has been made possible through the impetus of international organizations such as the Financial Action Task Force (FATF). As recently as February 2012, the FATF recommended that the principle of Customer Due Diligence (CDD), conducted by financial institutions, be set out in law. This was advocated in the recent FATF report â€Å"International Standards on Combating Money Laundering and the Financing of Terrorism Proliferation† published in February 2012. The following is a report by the head of AML at a large financial services firm, which advised the company’s board on the ‘perfect model’ for a robust system of CDD in order to ensure compliance should FATFâ €™s recommendations be implemented in the UK. Analysis of the objectives of an effective system of CDD and what it should contain The term ‘robust’, when used in this context, implies that the CDD system in question should possess an ability to effectively perform its function even when its assumptions or variables are misrepresented. The CDD model to be implemented should work effectively, without failure, in a diversity of circumstances and as such, it should not conflict with the law. As such, A perfect CDD system should contain tight and secure quality controls There should be effective policies, processes and procedures in place to ensure compliance with the regulatory requirements in the global arena Effective protective mechanisms should be put in place It should be cost effective –maximising on benefits while minimising costs. A perfect CDD system should be risk-sensitive Adoption of procedures such as ‘know-your-customer’, should be adopted within individual Jurisdictions Guidelines for the resolution of issues should be put in place should information made be inaccurate or insufficient. It should be strict and as such in compliance with the legislative laws It should be technologically competent given that the market is currently dominated by New Payment Methods which needs one to be technologically savvy Contents of a Robust CDD System A robust CDD system that can work in the current market described by high competition from the globe, Should contain human resources specialists with a strategic view of the particular organization since there is much competition from the international market. There should also be functional area managers in possession of technical expertise and the ability to think strategically (Rosenbloom 2002). Should contain experts with good knowledge of the national culture since the current market structure is globally inclined (Rosenbloom 2002). The institution in question should ensure that there is the inclusion of representatives from various parts of the world in the CDD team. These can help in the identification of data sources and as such help in the verification of the authenticity of various identities (Rosenbloom 2002). The CDD team should comprise of a group of experts in the law with a good knowledge of law in various parts of the world According to Steiner Marini (2008, p.14), the objective of CDD should enable the AML of a financial institution to predict with confidence the type of transactions that a customer is likely to hold. This cannot be achieved without tight and secure quality controls in place. Conceptually, CDD procedures begin by verifying the identity of the customer along with an assessment of the risks that may be associated with that particular customer. Enhanced CDD for high risk customers is highly recommended together with continuous due diligence of the customer base (Financial Action Task Force 2006). An effective CDD system should comprise of effective policies, processes and procedures to ensure compliance of the financial institution with the regulatory requirements that would allow the institution to report any activity deemed suspicious (Steiner Marini 2008, p.14). Furthermore, a robust system of CDD should be implemented with effective protection mechanisms equally directed to both the institution and its customers, considering, Data Protection Act provisions as well as the privacy rights of the customer. An effective CDD system should be cost effective and as such, it should deliver benefits to the institutions while respecting banking practices in the case of a banking institution (Mills 2011) It is important to bring out the point that CDD systems are meant to protect banks and other financial institutions from reputational, operational, legal and application risks among others, as these would result in large financial costs (Booth et al. 2011, p.218). They are also made to ensure that financial institutions have sufficient knowledge of their clients and as such, this is meant to ensure that banks and other financial institutions do not accept customers who are outside their normalized risk tolerance or in other words, clients engaging in any unlawful business. Knowledge of a client’s involvement in money laundering or terrorist financing is important as banks and other financial institutions, who fail to understand their clients, put themselves at risk of significant financial loss. You read "Law and Finance: Money Launderings Laws/CDD" in category "Essay examples" Therefore, effective CDD systems should make it difficult for clients to disguise ownership of accounts within banks. As such, adoption of procedures such as ‘know-your-customer’, should be adopted within individual jurisdictions, as this forms part of effective CDD programs or systems (Booth et al. 2011).. An effective CDD system seeks to ensure clear statements of the general expectations and specific responsibilities of staff. Thus, the management should allocate duties clearly with regards to who is responsible for reviewing or approving any changes to established risk ratings or to the profile of customers. As such, the AML of financial institutions should ensure sufficient customer information, since this is significant for the implementation of an effective system for monitoring suspicious activities (Schott, World Bank International Monetary Fund 2006). Insufficient customer information may make it hard for an AML to detect money laundering therefore, CDD system effectiveness can be achieved by incorporation of guidelines for the resolution of issues should the information obtained be inaccurate or insufficient (Mills 2011). In addition, current customer information maintenance is important if a CDD system is to be termed as effective. Notably, CDD should begin by identifying the customer along with the verification of their identity by use of independent source documents, information and data. At the same time, AML should ensure that the provisions of the Data Protection Act are complied with (Hopton, 2009 p.42). The due diligence process should be carried out on a risk sensitive basis (Steiner Marini, 2008). Besides, the measures taken should ensure consistency with the competent authorities along with enhanced due diligence applied to higher risk categories of customers. Simplified measures should be applied to lower risk customers. Strict compliance with the legislative laws should be observed (Booth et al. 2011). Accordingly, a high degree of transparency should be applied in the various transactions and as such, CDD should be applied in the preliminary stages of the establishment of a business relationship or in cases of excess cash transaction preparation (SchottWorld Bank International Monetary Fund 2006, p.44). Discussion of the risks, should there be gaps in the CDD processes Following the globalization of businesses, global financial systems operate with clients from all over the world. In this context, it is important to note that if CDD measures are not appropriately applied, then, this gives an opportunity for various losses. As such, failure to conduct CDD can lead to a reputational risk which translates to adverse publicity as far as the practices of the business are concerned. Inaccurate application of CDD measures may in this case lead to a loss of public confidence and as a result, may jeopardise the integrity of the institution. Subsequently, borrowers, investors, depositors and other stakeholders may cease business with that institution should scandals arise (Booth et al. 2011). Apart from the reputational risk, failure to conduct a careful CDD may lead to an operational risk. An operational risk refers to the loss incurred as a result of failed or inadequate processes, systems, external events and people involved. In addition, there is also a legal risk when one fails to carry out a full CDD measures (i.e. when one happens to leave gaps in the required processes). In particular, a legal risk has to do with the potential for law suits once involved in a money laundering case. Again, it may result in sanctions, unenforceable contracts, penalties and fines which may translate to significant financial costs (Steiner Marini 2008). Furthermore, the institution’s licences may be revoked and this may lead to the closure of the institution and as such, may be expensive for the institution since the losses involved may be costly (Fagan Munck 2009). Likewise, there is also the risk of concentration associated with the losses emerging from excess credit or loan disclosure to one borrower. Therefore, a lack of knowledge of the customer and the customer relations with the other borrowers may place a bank and any other financial institution at risk (Marks et al. 2012). This may also be a concern when there are related counter-parties, common income sources, connected buyers or assets for repayment. A robust CDD will need to apply KYC (Know Your Customer) which entails the identification of the customer through their national identification card, location, address and other related documents (Demetis 2010, p.64). This should be incorporated together with the KYCB (Know Your Customer’s Business) and as such, this is achieved by means of transaction profile, nature and type of business along with the sources of funds (Knight,International Monetary Fund Monetary and Exchange Affairs Dept 1998). Furthermore, the CDD should further apply KYT (Know Your Customer’s Transactions) which enables the management to know the customer’s transactions through a continuous and careful monitoring of transactions. In addition, a CDD system will work well through the application of KYE (Know Your Employees) which is meant to examine the institution’s employees by carrying out background checks along with a continuous monitoring of the systems for trustworthiness and loyalty to the institution (Alldridge 2003). Moreover, there should be continuous monitoring of customers in order to establish whether there are customer behaviour changes over time and in this case, transactions and other related activities should be monitored (Demetis 2010). It is imperative to note that a professionals within the financial sector can be sued for failing to perform due diligence. This is due to the fact that the institution has the obligation to conduct CDD and thus should be able to prove to any third party that every effort was made to ensure CDD (Tabb 2004) Similarly, if CDD were to fail, in such a case it would be advisable for the AML to close the account of that particular customer and as such to decline establishing a business relationship while ensuring that a suspicious transaction report is made. Money Laundering and the Law The approach of the FATF in recommending that the implementation of CDD measures should be set out in law is viable and realistic in terms of the practical application of such legislative changes. This is due to the fact that setting the CDD measures in law will ensure that legal action can be taken to deal with cases where the CDD measures have not been applied appropriately. Again, setting CDD measures out in law will improve the effectiveness of CDD measures carried out on various customers. Taking the example of the first CDD measure recommended to be set out in law, will ensure that the names of the customers are known, the location, country of origin, web data sources verified and as such customer contacts taken into consideration (Demetis 2010, p.64). In this respect, it will be mandatory for financial institutions to ensure that they only deal with customers with whom they are familiar. As a result, this will translate into effectiveness in the control of money laundering. In fact, this will ensure that all customers provide their details since it would be a requirement of the law along with the fact that this will also be incorporated in institutional policies and procedures. Therefore, before signing into any business relationship, customers and the institution in question will be governed by law, and failure to comply with this will lead both the customer and the institution in question to be held responsible. In reference to the second CDD measure to be set out in law, it is vital and realistic in the sense that the beneficial owner identity information will be disclosed, and any failure to comply would call for legal action to be taken against the customer. In this sense, it will not be difficult for banking and other financial institutions to get such information as it will be set out in law. Again, the institutions will avoid conflicting with the law as they will have to comply with the CDD measures. As far as the third CDD measure recommended by the FATF to be set in law is concerned, it is worth noting that obtaining information concerning the purpose and the intended nature of the relationship of the business will be a requirement of the law. As such, it will be required by the customer to avail such information as a requirement of the law rather than of the bank. This will make the work of the banking institutions and other related institutions much easier. Furthermore, the institutions will be forced to comply with the requirement of the law to implement the CDD measures. On the other hand, the fourth CDD measure recommended by FATF to be set out in law requires conducting a continuous monitoring of CDD on the relationship of the business while scrutinizing the transactions undertaken in the course of the relationship. Such monitoring ensures consistency in terms of the business and risk profile together with the source of funds. Once these are set out in law, it may be vital but not realistic in the practical applications in the sense that the privacy of the customers along with the institutional processes may be compromised (Evanoff, 2009). Subsequent to setting the financial principle that financial institutions should conduct, CDD should be set out in law with an aim that this will force institutions to comply; otherwise legal action would be taken. Again, such a step would translate to high levels of compliance by the institutions in question and as a consequence, effectiveness of anti-money laundering will be realized. NPMs and the Law The FATF recommendations requiring financial institutions to conduct CDD are viable and realistic, except for the fact that new payment methods (NPM) mean the law may need to more fully consider new technology. Notably, with an institution intending to make use of NPMs, money laundering may be inevitable. NPMs are well known for their vulnerability to money laundering and terrorist financing. Use of ATMs, prepaid cards, mobile and internet banking has presented a great opportunity for money launderers. However, there are some countermeasures that can prove viable. For instance, one countermeasure may be the implementation of a robust identification and verification procedures (FATF Report 2010). Such countermeasures may place limits on the transaction amounts and frequency,and include strict systems of monitoring of these aspects. In fact, not all NPMs are subject to law in all authority and as such, they take in the use of internet and mobile payment. Most NPM providers offer their products or services through both internet and mobile interfaces (i.e. virtual) and the FATF recommendations do not specify the specific risks involved and as such, NPM providers may not apply the CDD measures (FATF Report 2010). In this case, the practical application of such legislative changes as recently recommended by FAFT may not yield fruits especially with the use of NPMs. In spite of the challenges associated with the use of NPMs, it is important to note that the electronic records produced in this case can help with law enforcement (Marks et al. 2012). Importantly, a firm seeking to provide NPM as part of their service should consider the fact that there are three typologies depending on which one chooses to use. Here, the typology has to do with the third party funding whereby cards can be funded through the bank, cash and person to person transfers (FATF Report 2010, p.36). In addition, there is a second typology which includes the exploitation of a virtual nature (face-to-face) of NPM accounts (FATF Report 2010, p.40). This typology has the highest potential to facilitate criminals in money laundering. On the other hand, if the firm chooses the third typology (complicit NPM providers or their employees) there is also a high risk, as portrayed in findings made by the IPS where prepaid car providers were controlled by criminals and as such were promoting cases of laundering (FATF Report 2010, p.33). From this perspective, where the regulation of NPM service providers are prepared, law enforcement agencies, supervisors, and legislators amongst others, are faced with various challenges. Simplified due diligence, digital currency, and suspicious transaction reporting in cross border cases, and law enforcement against foreign providers with identification of secondary card holders for instance, can go some way to counteract this (Financial Action Task Force 2006),. Therefore, FAFT’s recommendation that financial institutions should conduct CDD, is viable and realistic, except in cases relating to new payment methods (NPM) where its recommendations may have more limited impact. Conclusion Following the recent recommendation by FAFT to set the CDD measures out in law, a robust CDD system that would work effectively in this context should contain a team of experts. Specifically, it should contain human resources specialists, functional area managers with cultural understanding of various parts of the world due to globalization,, representatives from various parts of the globe to ensure authenticity of data sources along with a team of information technology experts. This would facilitate the use of New Payment Methods common in the current market and as such, the team of law experts would make this happen in compliance with law in various states of the globe. References Alldridge, P 2003 Money Laundering Law: Forfeiture, Confiscation, Civil Recovery, Criminal Laundering and Taxation of the Proceeds of Crime, Hart Publishing, Portland Oregon. Booth et al. 2011, Money Laundering Law and Regulation: A Practical Guide, Oxford University Press, New York. Demetis, DS 2010, Technology and Anti-Money Laundering: A Systems Theory and Risk-Based Approach, Edward Elgar Publishing, Massachusetts. Evanoff, DD 2009, Globalization And Systemic Risk, World Scientific, New Jersey Fagan, GH Munck, R 2009, Globalization and Security: Social and cultural aspects. Introduction to volume 2, ABC-CLIO, Carlifornia FATF Report 2010, Money Laundering Using New Payment Methods, Retrieved on 20th April, 2012 from http://www.fatf-gafi.org/dataoecd/4/56/46705859.pdf. Financial Action Task Force 2006, Report on new payment methods, Retrieved on 24th April, 2012 from http://www.fatfgafi.org/media/fatf/documents/reports/Report%20on%20New%20Payment%20Methods.pdf. Hopton, D 2009, Money Laundering: A Concise Guide for All Business, Gower Publishing, Ltd. Burlington. Knight, MD International Monetary Fund. Monetary and Exchange Affairs Dept 1998, Developing Countries and the Globalization of Financial Markets, Issues 98-105, International Monetary Fund. Marks et al. 2012, Middle Market M a: Handbook for Investment Banking and Business Consulting, John Wiley Sons, New Jersey Mills, A 2011, Essential Strategies for Financial Services Compliance, John Wiley Sons, New Jersey. Rosenbloom, AH 2002, Due Diligence for Global Deal Making: The Definitive Guide to Cross-Border Mergers and Acquisitions, Joint Ventures, Financings, and Strategic Alliances, John Wiley Sons, New Jersey. Schott, PA, World Bank International Monetary Fund 2006, Reference Guide to Anti-Money Laundering And Combating the Financing of Terrorism, World Bank Publications. Steiner, H Marini, SL 2008, Independent Review for Banks – The Complete BSA/AML Audit Workbook, Lulu.com, North Carolina. Tabb, WK 2004 Economic Governance in the Age of Globalization, Columbia University Press, New York. How to cite Law and Finance: Money Launderings Laws/CDD, Essay examples

Managing And Leading Justification For Focus-Myassignmenthelp.Com

Question: Discuss About The Managing And Leading Justification For Focus? Answer: Introducation The retail industry of Singapore has continued to weigh down due to the rising local and global business cost and the alarming crunch in labors in the past few years. The industry has shown the tendency of consolidating, therefore the demand of the retail space and rents went down. Therefore, for documenting the change management, the retail industry of Singapore has been chosen. As stated by Davies (2015) the retailers in Singapore have faced difficulties for the developing competition for the other regional and e-commerce sector. The increasing cost of the business has indicated towards the poor economics condition and the labor crunch. There have also been the technical disruptions which has gained attention in the past few years as the ones without the technical facilities have faced serious issues with their market share and led to lose more shares. Considering the economic ambiguity within the country, the retailers were also seen to take a watchful stance towards expanding the business. Therefore the existing organizations have also focused on the consolidation strategies and focused on utilizing more resources in their primary outlets. According to Fernie Sparks (2014), with the fast penetration of the global technology in the country, the retail sector should also increase their reliance in the mobile and technological convenience. The retailers have also seen to struggle to reach the expectations of the customers. The consumers have outreached to the global brands, specifically the one which offer advanced technological buying and payment options (Lukic, 2013). Therefore, the retail industry of Singapore immediately requires following some change management strategies in order to improve the exiting situation. This study will consider the NTUC FairPrice for documentation. Significant trends and drivers required for change that impacts the organizational operation There are few major drivers and trends that the retail industry should adapt for changing their organizational operations. Of late the retail industry in Singapore has shown several changes in a slower pace; however the technological advancements should be taken more seriously so that it can attract more customers within the globalization era. Varley (2014) also states that the ecommerce market in the country is expected to rise to US $5.4 billion. Therefore, it should also be noted that during this period the expectations of the consumers will also tend to vary and change in a drastic way in next few years. The following changes will be required for immediate change within the retail industry which may impact the organizational operations in NTUC FairPrice. Embracing the E-commerce The penetration of e-commerce within the Singapore retail industry has started few years back. This change has impacted the entire business sector to a great extent. Therefore the local businesses such as NTUC FairPrice, will have to emphasize more on having an omni-channeled approach which will incorporate the e-commerce technology. There are several organizations within the retail industry that have started coming up with the e-commerce sites. The tendency of shopping from the e-shops is also increasing, therefore in order to meet such requirements of the customers; the e-shops should also be created in a way that can fill up the gaps in the customer requirements across all possible channels (Hughe Wearing, 2016). The global companies coming in Singapore have already started offering an omni channeled business model, therefore in order to fight with such competitions, it is very accounting required to start adapting the e-commerce in the retail business. Online business and cloud technology The market for paying through mobiles in Singapore has already shown a steady growth. As stated by Schtz, Lehnert Nssel (2014) in the past few years this market has been one of the few leading markets that have done more contactless payments. Therefore NTUC FairPrice will immediately opt for creating the place for doing online business. The usage of the mobile wallet payment has also increased the potential for loyalty programs in the country. Therefore if the organization will start an online business as a change management initiative, they can offer more favorable experiences to the customers. Identification of three areas of change required in the workplace Employee training The training and development of the employees are very much necessary within the changed environment in the business. If NTUC FairPrice is going to set up an online business by reinforcing the e-commerce system, training will be very much required for increasing the success rate of the change management procedure. Worle Mohrman (2014) has indicated that most of the chain management failures have been observed due to the negative attitude of the employees which led to idle management behavior. Therefore, all the employees within the organization should come on board with the change. The organization should also provide training for e-learning within the change management procedure. The training will increase maintaining the visibility of the working procedures of the company to the employees. If the employees know about the beliefs, perceptions and value of the organization, it will be easier for them to cope with the changed situation. Formulating of In-house IT team within organization Creating an online website and increasing the payment options for the customers will require a technological team in the organization. It is also possible that the company may hire a third party organization to develop the online site; however that may cost a lot in the long run (Hayes 2014). Therefore, NTUC FairPrice should develop an in-house IT team that will develop the software and take care of the entire technical procedure. This may cost more initially, but an in0house It team will be quite beneficial for the organization later. Establishing capable HR management team A changed environment always requires teams who can work together and aware of the organizational mission and vision. Therefore, the human resource team NTUC FairPrice should be more cautious in hiring (Cameron and Green 2015). The organization can also establish a human resource management team which is capable of ensuring that the employees are aligned with the change management procedure. Response of the leaders on the change management The change management is adopted by the organization in order to understand the environment of the organization in terms of society, government and customers (Goetsch and Davis 2014). As mentioned earlier, the significance of the change management can also be witnessed through ease in evaluation of objectives, strategy formulation and implementation, identification of the technological issues, competencies of the employees to resist the change and lastly recognition of the ability to become globalized. In order to incorporate change in the workplace, management of the organization is firstly liable to adopt the change and the managers have to represent their leadership skills during this period (Hayes 2014). Thus, it can be sad that there is a relationship between management with change-management. Cameron and Green (2015) illustrated that the change management should be considered with the subject of cross-cutting theme and some traditional management areas like finance, production and recent strategic management concepts. Hornstein (2015) highlighted that change management is required and the better the change management is applied the effective will be the project success. The correlation between the change management effectiveness and accomplishment of project objectives shows an exponential graph. The transition of poor to fair, change management process increases the likelihood of meeting objectives by three fold (Laudon and Laudon 2016). Thus, change management process significantly increases the success rate of the effort. Moreover, the major responsibility of the management is to align all the business operation so that the productivity and profitability of the organization gets unaffected. In this section models and theories for change management is discussed that is suitable for the retail organization. Change management models and concepts Lewins Change Management Model Lewins Change Management Model comprises of three steps- unfreeze, change and then refreeze that represents initiation, management, and stabilization of the changes process respectively (Shirey 2013). Unfreeze: The first step of this model represent the preparation for the change. Worley and Mohrman (2014) furthermore stated that in this step the management identifies what changes should be incorporated for the betterment of the organization and the employees should assess what change they have to face if the existing business approach gets changed. Cummings and Worley (2014) portrays that during this phase, the management of NTUC FairPrice ask their employees to unlearn their existing attitudes and behavior along with their habits, old ideas and perceptions. The importance and expected outcome of the change is also introduced in this stage. Change: Burnes and Cooke (2013). stated that this is the crucial period of the model as in this stage, real transition or change takes place. The time taken to accomplish this stage is more as people learn new strategies; new working approaches so that their competencies can be aligned with the incorporated change. Booth (2015) portrays that not only the employees ability is witnessed in this stage but the potential of the leader and ability to reassurance is also important. As planned, if NTUC implements online services, the employees should develop their skills to use the newly incorporated technology. These employees are also liable to know all details of the new technology so that they can assist others. In this case, managers are also expected to hire professional so that their employees can get proper training and take necessary business strategy that can results in more profitability like formulation on in-house IT team. Refreeze: Once the incorporated change has been adapted by the stakeholders of the organization, the organization desires to sustain the incorporated change and this phase is known as refreeze phase (Burnes and Cooke 2013). The employees again get their normal pace and routine for accomplishing their work. In accordance with the selected organization and change, the employees should work with the new technology and handle the operations according to their job roles and responsibility. McKinsey 7 S Model The McKinsey 7 S Model is used for improving the performance of the organization, proper examination of the required changes within a company, alignment of all responsibility of the departments so that the new system can be successfully implemented and operated (Singh 2013). Alshaher (2013) furthermore stated that this model also describes the appropriate ways through which the best proposed strategy can be implemented. All the elements can be furthermore categorized into two parts- Soft S and Hard S According to their nature. (Abraham 2013) explains that "Hard" elements are easier to manipulate and management can direct approach to them and influence then but in case of soft elements are less tangible and more influenced by culture. Strategy The main aim of this step is to establish effective competitive advantage. NTUC FairPrice can adopt cost leadership business strategy as they are the only supermarket chain in Singapore and offer every product that is required in daily life. Bloch, Blumberg and Laartz (2012) on the other hand suggested that thing that an organization should consider is to avoid any misleading activities and they should also develop their current business moves. This is the reason that the concerned organization opted for developing online shopping so that whether NTUC outlets are not present, people can also experience their services through online services. In addition to that the strategy of virtual shopping is also an effective change management as people can shop on the way to their office. Moreover, a focus on availability, service and immense technological knowledge emerged as a strategic priority for the new management. Structure The structure of the organization resembles to the hierarchy that represents who reports to whom. Many organization follow centralized structure where the managers are the decision makers and it is required during the change management as the subordinates intends to follow the instruction rather than making decision on their own (Singh 2013). NTUC FairPrice should also adopt the centralized structure and the boards of directors are liable to develop strategy that is best suited for the organizations advancement. Systems This phase highlights the day-to-day activities that are to be performed in order to make the change management system a success (Baldwin et al. 2012). In case of NTUC FairPrice, a wide range of systems on a daily basis have to be sustained in order to serve thousands of customers every day. The technology of online and website design along with virtual shopping needs proper understanding and skills in employees. Parker et al. (2013) highlight that reformation of steering wheel performance appraisal system is incorporated for the employees who will outperform during this transition period. Shared Values The major aim and objective that an organization adopts to maintain their profitability is known as shared values (Baldwin et al. 2012). NTUC FairPrice in this case, desires to offer all the required things that the consumers demands. The change of the offline services to online presence is thought so that the customer base can be enhanced. However, incorporation of the online services also comes with other technological changes like effective supply chain management and online payment. This strategy also helps the organization to adopt the change of virtual store. Style Laudon and Laudon (2016) stated that the manner in which the changes and leadership is adopted in the organization is referred to as style. All the leaders of the concerned organization should follow contingency leadership styles. Cameron and Green (2015) depicted that during the change management process autocratic leadership style is best as to provides the followers with accurate solutions and a direction can be provided following which better profitability can be attained. However, Hayes (2014) argued that autocratic leadership styles does not make a person learn all the skills of they might have some problem in adapting in new technology. In tat case, the employee started fear their leaders and resistance to change cannot be obtained. Thus, the leaders should follow contingency leadership and the leaders should change their styles as per as the situation. Staff The stakeholders, who work to accomplish the organizational goals and objectives, are known as staff (Goetsch and Davis 2014). In case of the change management of NTUC FairPrice, especially the lower end employees, IT management team and customer care executives are the targeted staffs. Skills The competency that staffs posses to accomplish the desired roles and responsibilities in order to survive the change management is known as skills (Shirey 2013). The problem that might be faced by the employees is the proper utilization of the new technology and assist any customers regarding using the new technology. However this problem can be overcome by proper training and involving the employees in the practical usage of these technologies. Key elements for leading the change management It is important to resist the change management so that better outcome can be attained. The leaders and staffs should possess necessary skill so that the transition period can be overcome effectively. In this section, the required skills are addresses through which the change procedure can be handled. Understanding the importance of resistance ridges and Bridges (2017) stated that a leader should suggest their employees required ways through which they can resist the change. In addition to that, these leaders are also liable to make these staffs understand why the change has occurred. Goetsch and Davis (2014) thus depict that people are uncomfortable with change. In this case, the employees of NTUC FairPrice should provide with practical training so that they can feel the advantage of the new incorporated technology. Development of two-way communication is required in this case so that employees can directly communicate with their higher authorities. Cummings and Worley (2014) portrays that adopting change and utilize it completely need some time but the organization have to perform their objectives. Thus, two-way communication can helps in making the relationship transparent. In addition to that, digital communication tools can be uses so that the employees can contact their managers and other employees whenever they feel problem. Include staffs during the planning of change management Baldwin et al. (2012) suggests one of the best ways to make the staffs knowledgeable regarding the change is to include them in the meeting when organizations leading managers decided to incorporate some change. This session can be followed with a feedback, where staffs can give suggestion and think the scenario from their perception. In this approach not only the relationship asking the high authority and employee become transparent but the managers can also assess the situation with everyones perception. Inclusion in the meeting allows the employee to send the feeling of equality and they desire to train in the organization by resisting the change in the organization. Provision of support Bridges and Bridges (2017) stated that employees should be the most valuable stakeholder of the organization; however, these group are often neglected. Managers of the organization should assess individuals capability and provide them training according to them. In this approach not only the employees get extra support but some talent can also be identified, who can be provide with more challenging job roles and responsibilities. Taken for instance,; since the major focus of change in incorporation of the technological changes in the workplace, hiring third party contactors need much financial resources. However, this adversity can be overcome if the organization formulate in-house IT team and outperformance of some employees during the change process can help the organization to retain talent for a new position. Goetsch and Davis (2014) furthermore depicted that the leaders are also liable to formulate effective Human Resources team so that they can find effective candidates, who ha ve the required capabilities to handle the new technology with their knowledge. Continuous feedback and development of leadership style Goetsch and Davis (2014) stated that the best way to assess a business decisions is to take feedback from the employees as they can provide accurate outcome of the implemented strategies. These employees are also allowed to give suggestions that what according to them can be the alternative. In this way, the leaders can adopt participative leadership styles as both the employees and leaders collaboratively work to obtain the organizational goals. Reference List Abraham, S., 2013. Will business model innovation replace strategic analysis?. Strategy Leadership, 41(2), pp.31-38. Alshaher, A.A.F., 2013. The McKinsey 7S model framework for e-learning system readiness assessment. 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