Women in Literature an Example by

Women in Literature Some critics claim that early American literature focuses on men, overlooking or devaluating the role of women and womens perspective. The response to this claim will presuppose profound analysis of some literary work of that time period. We will thus concentrate on Hannah Fosters The Coquette, which has become one of the brightest representations of the then literature. Need essay sample on "Women in Literature" topic? We will write a custom essay sample specifically for you Proceed Based upon the discussed reading, it is definitely impossible to state that literature of the analyzed period was devaluating women, though such claim has the objective right to exist among scholars. It would probably be more correct to assume that devaluation of women, which the authors of early American literature were depicting in their works, was caused by the real life conditions in which they lived. Thus, devaluating women was not the initial purpose of the early American writing; in pursuing realism and the truth, the writers were undeservingly labeled. However, this misinterpretation cannot be totally false. Through the prism of literary criticism, the character of the protagonist Eliza Wharton is certainly described in rather mournful colors. What is usual for us seems absolutely unacceptable in the world in which Eliza found herself. Thus, it would be more objective to analyze Fosters novel not from the viewpoint of devaluating women, but from the viewpoint of the then soci ety devaluating and not accepting their freedom, as was reflected in The Coquette. Reading The Coquette, we come to the question, whether Foster was depicting a true womanhood, and how a woman of her status could feel in the society and people by whom she was surrounded. It is difficult to deny that Eliza Wharton was initially overlooked as a personality by her companions, friends, and was truly judged for her actions and manners. Of course, what we see in Eliza does not surprise us, but her behavior could not be called traditional through the prism of the then manners. The true woman of that time had to possess several integral features, out of which virtue and domesticity were the most meaningful. Moreover, in case a woman did not possess those features, or was not willing to follow the principles of the society, she risk being abandoned, being stigmatized, and being called the enemy of all polite people. Through the entire reading of The Coquette I was accompanied by the thought that it would be improper to state, that Foster was devaluating women. I think that the author had devoted the whole story to the inner perplexities of the female character. The writer has exercised an extremely visible and wise tool for creating and objective (and simultaneously, subjective) picture of the reality. We see the development of Whartons affair with Major Stanford, and simultaneously we have an access to the inner world and inner conflicts of each of the characters in the novel. Devaluating women is more seen not in the way Foster depicted Eliza, but in the way Eliza would be treated in the society of her time. Simultaneously, Major Stanford is considered to be rejected by a virtuous society for having seduced women and being known for his bad reputation. It is even more surprising that Stanfords behavior is not equal to devaluating women; but the reaction of the society to Whartons behavior is. Objectively, Foster was focusing on how men perceived the reality, and how they perceived women around them. Through the correspondence between several men in the novel we are capable of making an insight into their souls. However, in the context of the reality which Foster described in her work, focusing on men was a literary necessity, and limiting my research by this work of writing is not sufficient to conclude that the claims of critics towards devaluating women in literature are at least relevant. Eliza in Fosters world has become the embodiment of violating the norms of the society in which she lived. She was the proof that the society was constantly devaluating women. She has become the bright revelation of the then female world. She has a difficult marriage, through which she did not experience any warm feelings to her ceased husband, but whom she had to marry upon her parents request. Mr. Haly was a man of worth, a man of real and substantial merit. He is therefore deeply, and justly regretted by his friends; he was chosen to be a future guardian, and companion for me, and was, therefore, beloved by mine. As their choice as a good man, and a faithful friend, I esteemed him. But no one acquainted with the disparity of our tempers and dispositions, our views and designs, can suppose my heart much engaged in the alliance. (Foster 807) Being similar to Major Stanford in her temptations, even he had to admit the conflict of her inner identity with the society: Her sagacious friends have undoubtedly given her a detail of my vices. If therefore, my past conduct has been repugnant to her notions of propriety, why does she act consistently, and refuse at once to associate with a man whose character she cannot esteem? (Foster 863). In her grief for losing husband, she was not looking for consolation, but was realizing the fact of her ultimately being free of those connections. Moreover, she was seeking consolation not among her friends, but in the fact of being free to choose; in this she was completely different from her female friends, and was constantly judged and warned against Major Stanford. Of course, she was seduced by him, and he never realized the seriousness of his claims on Eliza. She in her turn did not understand that she was misled, and had to abandon her traditional pathway of virtue (so valued in the then society) to be with that man. It was not that Foster was devaluing Eliza, but she was trying to remain within the limits of the traditional society; she could not allow herself openly declaring the fact of Eliza being correct in her moves. This is why the author had to use implicit tools and literary devices for us to understand the true meaning of her writing. The visible devaluation of Eliza was actually the expression of her strength against the widely accepted (and often absurd) norms. In one of her letters, Eliza was writing: Should it ever be my fate to wear the hymenical chain, may I be thus united! The purest and most ardent affection, the greatest consonance of taste and disposition, and the most congenial virtue and wishes distinguish this lovely couple (Foster 813). These were Elizas ideas about her happy union with some man. And while come critics might claim that the image of a woman in early American literature was at least neglected, it can be easily argued. What Foster was aiming was to display the societal constraints in which the woman of her time had to exist. For Eliza this hardly looked like existence, being similar to surviving. Her mind was disconcerted with the emotional agitations, and she could not find moral satisfaction in any of the two men with whom she communicated. it is understandable why Foster depicted both Boyer and Major Stanford in so many details: we needed to have a detailed understanding, why the woman could not have any affecti on towards any of them, especially of Boyer. Boyers character consisted of traditional virtues praised by society: he was striving for domestic and loving wife, who would not allow going out or having friendship with men. He could not also understand her patience and indecisiveness towards his personality. The meaning of the name The Coquette was brilliantly expressed in Elizas interactions with Boyer and Major Stanford. The name of the novel has become the sign of the false appearance we attribute to people whom we dont really know, or do not want to understand through the existing social norms. She was far from being a coquette; she was looking for the person who could comply with her social demands and who could not restrain her social strivings, but she found none, being dishonored and finally led to death. Devaluation of a woman was shown by Foster as punishable even within the described societal constraints. Both Boyer and Major Stanford were virtually punished for misunderstanding the true identity of Eliza Warton. Hannah Foster has created a perfect image of all three characters, letting us into the hidden world of concealed emotions and cherished emotions. Surely, she had displayed the situation of a woman when being dishonored and obviously devaluated by those who surrounded her, but the writer herself did not devaluate Eliza. On the contrary, she seemed to having achieved the aim of her writing: she was sincerely mourning the death of her protagonist. Foster succeeded in depicting the possible tragic consequences of the societal norms impact on peoples lives. No one could predict that Elizas striving to be social would lead her to being called the Coquette, but the society did not leave any other choice, and Eliza would have to live with that stigma. Moreover, Boyer did not also leave Eliza any options except for writing her a farewell letter and expressing his extreme dissatisfaction and anger with her behavior; however, and in the context of the contemporary society, we should think what right he had to intrude into Elizas life. Thus, the devaluation of the womens perspective is not viewed in the early American writing itself, but in the real situation of women in the then society, which the writers had to evaluate and judge. Conclusion Critics have the right to claim the position of a woman in the early American literature is devaluated. However, it was more real than neglected. The example of Fosters The Coquette we come to understanding the inner force of the woman in trying to break the societal norms and failing to do so. Hannah Foster has succeeded in creating an image of a woman new to her traditional society, being devaluated by it, but not by the realism of Fosters writing. Works Cited Foster, H. W. The Coquette: or, the History of Eliza Wharton. In Baym, N. (eds.), The Norton Anthology of American Literature, 7th edition. University of Illinois at Urbana-Champaign, pp. 807-904.

Thomas Jefferson1 essays

Thomas Jefferson1 essays Thomas Jefferson symbolizes the promise and the contradictions of Americas historical heritage. As the third president of the United States, a diplomat, plantation owner, architect, scientist, and philosopher, he is one of the most important figures in American history. The writings of Thomas Jefferson are today more meaningful than ever before in Americas history. You could reach into your pocket, pull out a nickel and find him gazing into the middle distance. Jefferson was born on April 13 (April 2, Old Style), 1743, at Shadwell, the most important of the tobacco plantations owned by his father Peter Jefferson, in the Virginia upcountry. An intelligent man, although educated, Peter Jefferson became a successful surveyor, landowner, and member of the Virginia House of Burgesses from Albemarle County. His wife Jane Randolph, a member of one of the most distinguished Virginia families. As a child, he enjoyed to the full the advantages of his familys position in life: the books, the horses, and the good life of the Big Houses at Tuckahoe and Shadwell. When his father died he left his fourteen-year-old son with not only valuable lands and property but the inheritance of Virginia wealth as well as loving and caring advise. Thomas not formally educated himself; he studied at Revered Mr. Maurys school, not far from Shadwell. After two years in the spring of 1760, he left his native Albemarle to attend William and Mary College. Jefferson gives evidence of enjoying to the party scene: the music, the dancing, the flirtations, and the punch drinking. After graduating from William and Mary in the spring of 1762, Jefferson studied law five years under George Wythe. Knowledge of the law is essential to an understanding of governmental procedures. He became a successful lawyer starting his career. When Jefferson was turning thirty he started his political career. In January of 1772, he had ma...

LLB Law Of Evidence coursework Essay Example | Topics and Well Written Essays - 1500 words

LLB Law Of Evidence coursework - Essay Example On the other hand, the defendant can easily claim that they did not have knowledge of what was inside the package, but that the package contained other things, something hard for the prosecutor to rebut. The aim of this paper is to advise Jim who is appealing against his conviction for supply heroin based on evidential issues arising from the judge’s summing up. Discussion Ever since the effecting of Human Rights Act 1998, criminal evidence has become the most significant development due to various disputes under Article 6 which entails the right to a just trial against the application of a legal weight on the defendant to establish one or more particulars in the issue2. The fact that Jim is seeking a declaration that section 28(3) (b) (i) to be declared contrary to Human Rights Act 1998 as it infringes on his right to a just trial under Article 6 of European Convention on Human Rights 1950, he is placing the court with a question on whether it has the jurisdiction to consider appeal and, if it did, whether section 28(3) (b) (i) the Act was unsuited with his right to a just trial3. ... Therefore, in order to establish the defence under section 28(3) of the Act, Jim has to prove on the equilibrium of probabilities that he did not know that the box contained heroin4. The real apprehension is not if the defendant should disprove evidence but that the defendant may be convicted though a reasonable doubt subsists. In particular, the Misuse of Drugs Act 1971 does not have a clear characterization of possession, and in section 37(3) it elaborates that an item which an individual has in his or her possession to include anything subject to his or her control, and which is in the guardianship of another person. Therefore, unless the item is in that individual control though still under care of another person, it cannot be categorized to be in the accused in this case Jim possession5. This then leads to what the directions the jury was given by the trial judge, and it is evident that though it was essential for the prosecution to establish that Jim knew that the box was in hi s control, it was not essential for the prosecution to establish that Jim knew that the item inside the box was a controlled drug. For this reason, then there would be the likelihood of an infringement in terms of presumption of innocence. This became evident in R v Edwards,6 whereby the defence was identified to have so closely associated with the mens rea principle and moral guilt that it derogated from presupposition to reassignment of legal burden to the defendant. Although subsections (2) with (3) of Misuse of Drugs Act 1971 define specifically of the defendant proving something, then this does not necessarily mean that in order to ascertain a defence then the defendant must essentially offer evidence. Thus, the essential evidence might arise such as from any varied

Operations Management Assignment Example | Topics and Well Written Essays - 2000 words - 1

Operations Management - Assignment Example On the other hand, experimenting with the real world has not only proven to be expensive but is also dangerous and in most cases impossible. The Dry cleaning case study highlights one of the current issues and challenges affecting operations management in most industries. In the case study, the dry cleaner processes two pieces of suites by allowing suites to arrive with exponential time between the arrival times having a mean of G minutes and are at first served by server 1. After the completion of service at server 1, the jacket (one piece of the suite) is expected to go server 2 while the other parts (pants) goes to server 3. However, during the service at sever 2; the probability of the jacket being damaged is 0.05 while at the same time the probability of the pant being damaged at server 3 is 0.10. From server 2, the jackets enter into a queue for server 4 where suit parts are matched and reassembled. Management of waiting lines is a common challenge in operations management. As evidenced in the above case study, service systems normally face a number of problems such long queues of waiting lines due to the complexity and high levels of heterogeneity in the operations management processes (Barnes, 2008). ... rena Modeling in Service Systems Spreadsheet and Arena modeling programs are some of the simulation tools and techniques that are commonly being used to help solve the queuing problems in the contemporary services systems. In operations management, queue systems are not usually possible to analyze using mathematical or analytical formulas. Consequently simulation is currently one of the widely used means of analysis by most operation managers. With regard to the queue problem highlighted in the case study, both the two software tools can effectively be used as viable alternative techniques to experiment and find solutions to the issues affecting the service systems through abstraction. Generally, spreadsheet is currently one of the most accessible modeling tools that can be used for a wide range of applications and problem solutions in operations management. For example, the simulation modeling using spreadsheet can help explore the problems of long waiting lines and queues associate d with the dynamic service systems. In spreadsheet based simulation modeling, the technology used simply involves entering the model inputs into cells and viewing the output in other cells (Winston and Albright, 2007, p.124). In this regard, the input values are linked to the output values through chains of formulas and even scripts. Compared to Arena modeling, both some of the potential advantages of spreadsheet modeling include the fact that it is virtually available on any office computer and is normally very easy to use. Additionally, spreadsheet simulation modeling is relatively extensible particularly when using spreadsheet simulation modeling to solve the queue problem in service systems such as the one highlighted in the above dry cleaning case study. For example, one can easily add

The Coming of Age Essay Example for Free

The Coming of Age Essay Childhood is a time where children learn about the world around themselves. They see and experience many factors that influence their everyday lives, which help them grow stronger when they become adults. In â€Å"Girl† by Jamaica Kincaid and â€Å"The Lesson† by Toni Cade Bambara the characters within the stories learn valuable lesson with help them grow to become better individuals. In â€Å"The Lesson† the character of Sugar undergoes a realization that society does not treat everyone equally, that not every individual has the same opportunity and equality that they should have. In â€Å"Girl† the main character learns that she must be perceived as a woman and not as a slut, her mother brings to her attention of how the world is and what she must to do in order to survive in it. Lessons that children learn all help them grow to become better individuals, in â€Å"Girl† and â€Å"The Lesson† the lessons that the characters learn both help them grow to become better and stronger individuals. In â€Å"The Lesson† the character, Sugar undergoes a realization of the world around her, through her teacher Miss Moore, Sugar notices that there is a better way of living in the world besides, her own little world with her friends. Sugar says, â€Å"You know, Miss Moore, I don’t think that all of us here put together eat in a year what that sailboat costs,† (Bambara 452). Miss Moore is an African American woman who has broken through the expectation that society has placed on her class and on her color. Bambara presents Miss Moore as a very educated and intelligent woman, who has a college degree. With her knowledge Miss Moore sets out to educate the deprived and lower classed children and teach them of the world around them. She sets out to open their eyes, as well as their knowledge of the world around them. Miss Moore says, â€Å"Imagine for a minute what kind of society it is in which some people can spend on a toy what it would cost to feed a family of six or seven. What do you think? ,† (Bambara 452). Sugar’s realization of the world outside of her own, opens her mind to many questions that she never imagined before. She realizes that there is a better standard of living in the world and that society is not equal, as it should be, â€Å"I think, . . . that this is not much of a democracy if you ask me. Equal chance to pursue happiness means an equal crack at the dough, don’t it? ,† (Bambara 452). In this quotation Sugar realizes what Miss Moore set out to teach the lower classed and deprived children, her goal was to open their eyes and make them aware of how much more there is out there then making pocket change. â€Å"What kinda work they do and how they live and how come we ain’t in on it? Where we are is who we are, Miss Moore always pointin out. But it don’t necessarily have to be that way, she always adds then waits for somebody to say that poor people have to wake up and demand their share of the pie and place,† (Bambara 452). With her eyes wide open and with her mind curious and educated, Sugar and her friends realize that in order for them to get some where in life they have to work at it, but not as in individual but as a whole, a class. The only way for them to make a difference to change societies view of their class and become part of the rest of societies. In â€Å"Girl† Kincaid lists a series of orders from a mother to a daughter in such a way that the characters’ lives are illuminated and transformed by the mundane household details. The â€Å"Girl† is more of a gender type of a story, but there is also a lesson that needs to be realized by the girl. In this story the mother of this girl is her teacher, she tells her daughter of how the world is around her, just like Miss Moore in â€Å"The Lesson. † The mother in this story tries to make her daughter realize that he needs to be viewed as a woman within society. Who or what the daughter is on the inside can be for herself, but on the outside she cannot let her actions give and impression that she is a slut to society. The mother says, â€Å"this is how you smile to someone you like completely; this is how you set a table for tea; . . . this is how to behave in the presence of men who don’t know you very well, and this way they won’t recognize immediately the slut I have warned you against becoming, . . . † (Kincaid 33). As this story progresses the mother lists various chores and behaviors she must do in order for her to remain a woman and not be viewed as a slut, â€Å"be sure to wash everyday, . . . don’t squat down to play marbles-you are not a boy, you know, . . . † (Kincaid 33). In this story the girl wishes to rebel against what her mother wishes for her to do, but she dose not wish to be viewed as a slut, if she doesn’t do everything her mother has taught her. Mother says, â€Å"this is how to make ends meet; always squeeze bread to make sure it’s fresh; but what is the baker won’t let me feel the bread? ; you mean to say that after all you are really going to be the kind of woman who the baker won’t let near the bread? ,† (Kincaid 34). In this story an issue of gender arises, where a girl needs to be taught how to become a woman and not be viewed as a slut. The daughter in â€Å"Girl† wants to rebel against her mother and not be viewed as a slut to society, therefore hoping that society will not look down upon her, if she does not do everything that the mother has taught her that she must do. In the stories of the â€Å"Girl† and â€Å"The Lesson† different lessons are learned, but the common realization of the world around them is learned by the characters and how each of the characters must learn to rebel against societies views. This realization helps them grow smarter and stronger as they grow older and come of age, from childhood to adulthood. Society has set standards for individuals to live by, but it is up to those individuals to break away, or live by the standards and views of society. â€Å"It is not much of a democracy if you ask me. Equal chance to pursue happiness means an equal crack at the dough,† (Bambara 452). In reality, society has set standards for everyone to live by. Those who break away from it are look down upon if they fail, but if they succeed they are praised by, this may be the only way to change societies views of gender, class, and race; it is by succeeding in everything that you do.

Evaluating the Economy of Austria Essay -- Business Marketing Manageme

Evaluating the Economy of Austria   Ã‚  Ã‚  Ã‚  Ã‚  In 1995 Austria joined the European Union (EU), and in 1999 they joined the European Monetary Union. The use of a common currency the â€Å"Euro† has facilitated trade and promoted economic stability for U.S. companies to manage pricing, balance accounts, and move products into Austria and throughout the EU member nations (â€Å"globaledge†, 2003). An unfavorable exchange rate for U.S. exporters turned positive in 2003 making the U.S. able to compete on more favorable terms in the near future. Current economic reforms in Austria are increasing the attractiveness of foreign investment. There are several advantages to conducting business in Austria that will be particularly relevant in the year 2004. Austria is an international crossroads bordering on eight European countries which include Germany, Italy, Switzerland, Slovenia, Hungary, Slovakia, Czech Republic, and Liechtenstein. Austria’s eastern neighbors, Czech Republic, Slovakia, Slovenia, and Hungary will join the EU in May of 2004. The impact of this is that Austria will become more centrally located.   Ã‚  Ã‚  Ã‚  Ã‚  Austria’s market is well diversified and resilient. Government is seeking to remain competitive by pursuing investment in high potential industries such as telecommunications and electronics (â€Å"globaledge†, 2003). United States companies that are in the telecommunications and electronics industries have a great opportunity for exporting, joint venturing, and investment in Austria.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  The U.S. is Austria’s 3rd largest supplier of imports and largest trade partner outside of Europe (â€Å"CIA†, 2003). U.S. companies entering the market for the first time can benefit from the already established trade lines between the two countries. Austria’s market is highly competitive with high demands placed on quality, service, and price. This type of market is ideal for supporting the favorable reputation of high quality American made technological and electronic products. A US company would be able to compete with EU member nations products by exporting these products to Austria.   Ã‚  Ã‚  Ã‚  Ã‚  US companies looking to export products to Austria are able to employ the services of the Commercial Services of the United States Embassy in Vienna (CS Vienna) acquire the information necessary to begin its operations (â€Å"globaledge†, 2003). The following services would be offered to such compa... ... Austria’s market are very favorable to a US company that is looking to export goods. It is important to remember that while tariffs and value added taxes exist, most many goods do not have tariffs and consumers are willing to pay more for products that they see as inferior to all others. CONCLUSION   Ã‚  Ã‚  Ã‚  Ã‚  Ultimately, Austria’s market is very appealing to US companies looking to export technology-based products. This is clear after examining several factors including: marketing and management forces, physical forces, economic and socioeconomic forces, and cultural forces. It is necessary that any company entering the Austrian market be familiar with the pros and cons of all of these forces. Additionally, there are a few key barriers which exist, including the potentially weak Austrian economy, the high tax burden, and new EU members. While these barriers may seem intimidating it is necessary that any US company seek out and employ all of the resources which are available, including the Commercial Services of the United States Embassy in Vienna. In conclusion, Austria appears to be an untapped gold mine for United States companies which are looking to export technological goods.

The Impact of Instant Messaging in the Financial Services Industry: Benefits, Challenges and Recommendations

January 2009 Executive Summary Unfortunately, while Instant Messaging (IM) systems have the ability to change the way financial service companies interact for the better, many of today’s implementations pose problems and challenges to address. IM technology has the benefits of gathering input from many different people in dispersed locations. This adds speed and ease to workplace communication, and presence detection eliminates the time typically lost to missed telephone calls and wasted trips to see colleagues. Speed and efficiency are increased from knowing the status of financial transactions in real-time. A main challenge in financial compliance is the regulatory financial framework, which forces financial service companies to archive IM conversations. Poor management in security and retention controls increases the legal risk and personal accountability to corporate officers. Consumer-grade IM has potential for security breach and the leak of corporate data which can be particularly devastating to financial service companies. IM is widely used to distribute research, negotiate prices, execute orders, and stay in touch with clients and colleagues. It provides a direct mode of communication with co-workers, clients and other broker-dealers that enables far closer and more personal relationships. Imposing an IM ban could result in the loss of clients and valuable employees to competitors who are more tolerant of the use of IM in the financial markets. Key recommendations include: Installing an enterprise-grade IM system for all employees in the firm. The addition of consumer-grade IM for client facing employees to keep client loyalty. Educating employees on a company IM policy including regulatory guidelines and using IM for personal use. Enforcing rules through software that monitors and records IM conversations, and also through disciplinary action. Forming a management team to coordinate a strategic IM plan that meets all regulatory and legal needs and effectively solves the challenges and problems discussed. Continuously investing in new technology, updating IM policy, and educating employees to meet long-term regulatory and security requirements, and issues regarding the future direction of the firm. Introduction Instant Messaging (IM) was the first mass based communication application rolled out by users, rather than management who saw immediate business value in this new form of communication. Financial Industry and Government regulators have clarified IM as a form of real-time written correspondence that creates a business record. This paper seeks to explain the risks and problems IM brings to the financial services industry and challenges for management, such as determining the effect on employee productivity. This paper reviews the benefits IM brings to the financial services industry, in the form of improved communication, collaboration, efficiency, monetary benefits and information archiving. It also discusses the problems and challenges that management should be aware as well as the impact on the business, and makes recommendations for addressing these issues and achieving benefits for financial service companies. The Potential Benefits that can be gained from IM Enhanced collaboration There are many arguments for the use of IM as a communications tool in the business environment, including improved brainstorming capabilities and the ability to multitask. Many workers today use the telephone and IM simultaneously, so they can chat with each other privately while, for example, on a group call to a client. Ellen Isaacs (2005), reports that â€Å"users like that they could respond to quick IM questions from co-workers while engaged in another task, such as talking on the telephone, or processing documents or email. Studies note the ability to multitask is a major benefit of IM in the workplace. Current theory emphasises the value of informal social interactions for exchanging information, collaborating, and initiating spontaneous interactions (Cross & Parker, 2004). IM suggests that systems that depict social cues facilitate information and social interactions, enhancing performance. Over time, people develop comfortable working relationships through prior collaborat ion and through socialising. IM has proven its overwhelming value when it comes to gathering input from many different people in dispersed locations. For example, in financial trading, UBS has created over 5,000 group channels around certain topics like foreign exchange, equities and fixed income. Pritchard (2006) reports that if something's happening in European equities, or in foreign exchange, someone can put it on the chat line and other traders can see it instantly. Improved efficiency Processes that were once agonizingly slow and inclined toward misunderstanding and errors can now be accomplished in record time. Handel (2002) reports how this has led to increased popularity among workers because it adds speed and ease to workplace communication, and eliminates the time typically lost to missed telephone calls and wasted trips to the office of a co-worker who is absent or otherwise occupied. It is clear that IM can be an efficient, thought-provoking communications tool, not only within the office but as a bridge between geographically dispersed locations. Jim Craige (2006) at UBS Investment Bank explains how in fixed income trading, having a secure connection to a network of dealers with whom he's in constant contact lets him take care of business faster, as â€Å"it drastically cuts down on the time it takes† to know the status of transactions. Improved communication IM differs from email, primarily in that its focus is on the immediate delivery of messages. Many also acknowledge the tool as less intrusive and a time saver when compared to the telephone due to the ability to detect the presence of other users. Users can set status messages telling others whether they are available or not, which adds to IM’s value as a skilful means of communication. There is often some type of icon next to the name of their buddy to determine how long the person has been online, and if they are actively messaging or â€Å"away† from their desk. From the author’s experience, this saves on making unnecessary phone calls if you can see that the person you want to speak to is not at their desk. It can be decided whether to contact the person later or send an email, voicemail, or other message that the recipient can respond to later. In other instances, help consists of referrals to others who can provide answers or help solve problems. UBS formed a help desk channel for IT where employees could input trouble tickets (a specific IT problem) through a chat system and then receive real-time feedback on the status of their ticket. IM offers a way to quickly resolve questions and issues as they arise. Cost Benefits IM has proven return on investment benefits in certain situations, such as conferencing. Group members can be conferenced in to a conversation from around the world, which saves on long distance calls and travel expenses. Diseconomies of scale in distance can be solved through IM, due to increased collaboration and the cut in communication costs (Cameron & Webster, 2004. ) According to Saeedi (2005), Morgan Stanley saves $18 million annually by relying more heavily on IM than phone calls, plus another $98 million per year in trimmed travel costs, as there is diminished need for face-to-face meetings. Many analysts see IM as stimulating positive change in organizations because of its rapid diffusion, diminishing costs, and ease of use (Jones, 1998). Information Archiving Archiving IM meetings and conversations has become an essential business process for financial companies, since IM users don’t generally just chat, but they also exchange documents, contracts, trade details and other financial information. Starner, T. (2004) says how â€Å"Instant messages are business records, just as e-mails are business records. † This enables employees to go back and review crucial information (they may have forgotten) that is needed for themselves or that is requested from them. Financial institutions are wary because of regulations where in some areas such as trading they cannot use instant messaging without logging and archiving them. There is also scope for managers to review IM conversations and therefore ensure productivity is not being compromised by personal IM use, and that disclosure and industry regulations are being followed. The challenges and problems with the implementation of IM Compliance Compliance regulations, such as Sarbanes-Oxley, have forced companies to archive IM conversations. This is because an IM conversation is still regarded as a sort of document. Sarbanes-Oxley regulation requires an annual evaluation of internal controls and procedures for financial reporting, as well an assessment for the effectiveness of these controls. As IM is involved in this process, these communications need to be logged, archived and available upon request. Many IT units are having difficulty managing several IM systems installed without their knowledge that are used for both personal and important business communications. For example, Thomas Weisel Partners LLC in San Francisco tried to shut down the use of America Online Inc. ‘s Instant Messenger, Microsoft Corp. s MSN Messenger and Yahoo Inc. ‘s Yahoo Messenger after the 11th September terrorist attacks. However, due to resistance from users, the company was forced to adopt monitoring software instead. Managers are in agreement that in financial services, client facing employee’s need the more popular systems to communicate with customers, so efforts to implement a standard IM p roduct rarely work. Beth Cannon, a former Chief Information Officer at a brokerage explains that â€Å"it comes down to some of our institutional customers who required IM as the method to communicate with them. When a client insists on using a specific consumer-grade IM and management who choose to shut it down, they create the possibility of losing that client. However, if they keep it then they open up the company to risks, as well as additional costs in monitoring, archiving and enforcing policy on the technology. The problem of resistance to the removal of the multiple IM systems can be circumvented to a large degree through the use of monitoring software. More vendors of all sizes, such as Stellar Technologies Inc. are scrambling to build robust tools to monitor IM for financial firms, which must meet new government regulations requiring that electronic conversations be monitored and recorded. When organisations implement information management solutions, they must ensure ade quate management controls. Grace Financial report that their administrative tools are great for inputting problematic key words and reviewing highlighted logs. On the other hand, they also report that they have had limited, if any, issues with misuse – just increased software costs. However, they find that it has come in most useful for reviewing conversations where there is a problem with a client order. There is a significantly increased legal and security risk from lack of user management, security and records retention controls for employee use of instant messaging technologies. Following the lead taken by the New York Attorney General, the SEC (Securities Exchange Commission) has already issued some multimillion dollar fines for non-compliance of regulation (Ministries, J. 2002). In May 2002 Merrill Lynch agreed to pay a $100mm penalty resulting from hyping stocks that internal communications revealed that they knew to be bad. However as part of the settlement Merrill Lynch set up a proper system for logging and monitoring IM. With IM becoming such a popular communications tool, it's reasonable to assume that conversations conducted will, at some point, contain information that is company confidential. Therefore an IM system is needed that provides security for messages as they are transmitted, even if all such transmissions will be within the company’s own network. Goldman Sachs has spent considerable financing on ‘Bond. Hub’ which delivers secure messaging beyond firewalls of new fixed-income product issues. This new software could only be implemented with complete security as they wish to protect their extremely valuable client list. The security of ‘Bond. Hub’ has kept control with the dealers and protects access to the high-value content. The right solution of IM security will depend largely on the value of the data, and the company’s view of risk. Unmonitored, uncontrolled consumer-grade IM, such as Yahoo Messenger and MSN Messenger are essentially open channels between corporate networks and the outside world. This involves an amount of risk that most business leaders are unwilling to accept. â€Å"Instant messaging could be fine between two companies if the data being exchanged is very insensitive,† says Miles Clements, a project manager at an Information Security Foundation. â€Å"But a trader should not be able to use IM to trade with another bank. † It is argues by security experts that free consumer chat programs can tear gaping holes in security efforts. This is mainly because consumer-grade IM allows unlimited numbers of people to connect directly to a corporate network. † This was made evident in a case that occurred at the beginning of 2001, where a hacker stole logs from an instant messaging client belonging to the CEO for a company called eFront which specialises in financial services software. The hacker posted the logs to several places on the Web, thereby creating one of the worst possible corporate nightmares. These logs included sensitive company data regarding business partners, employees and affiliate websites. After the posting of the logs, several members of the senior staff for eFront resigned. There are reports already of cybercriminals and hackers exploiting the growing popularity of IM by using it to introduce viruses or other malicious software into financial firms. The Vice President of a top investment bank had his computer infected by a virus and found that his entire ‘buddy’ list had been sent a record of all his IM conversations. He was fired because of negative comments he'd made about his colleagues in what he thought were private IM conversations. Obviously, for the firm in question the logs leaked several confidential facts that were hurtful to the company’s reputation and future business deals. In spite of this, virus attacks are not yet frequent on IM applications, but the latest threat is likely to send worry in to the mind of IM users and the financial service firms that employee them. IT departments need to take a strong lead on securing IM through many different approaches. However, an outright ban on running IM software is unlikely to succeed or risks damaging productivity by closing down a useful communications channel. It seems that financial companies need to act to assess the state of IM use within their organizations and put into place the necessary measures to make sure their IM use does not run afoul the compliance requirements and vital security needs of the financial services industry. From the author’s own experience at Morgan Stanley, employees have to view and learn several materials and then take a test on the dangers of IM, in order to educate users on correct use and also place more legal obligation on the employee and take it away from the company. Employees can frequently disclose information when they are conducting several different IM conversations at once, and accidentally send a message to the wrong person. Inside information, prospecting information etc. can be leaked in these ways fairly easily, with no malevolent intention on the part of employees. This author has experienced the simplicity of replying in the wrong IM conversation when several conversations windows are open. The leak of valuable corporate data can be particularly devastating for financial service companies. Computer experts have warned that a lot of leaks are actually intentional and that financial service professionals are increasingly using untraceable electronic instant messaging systems to communicate sensitive information secretly. The Financial Services Authority said there had been concerns about instant messaging for some months. However, the City watchdog said its existing rules covering conflicts of interest were sufficient to cover such new forms of communication as IM. In the US, securities regulators have cracked down on the use of instant messaging, when the National Association of Securities Dealers told its members they must save instant messages for three years or restrict employees in using the technology. There is the impression that some companies have banned the use of IM technology. On the other hand, Mr. Palmer of Kroll Ontrack, said it was reasonably easy to place a device on a computer server to divert the messages and search for information. If IM technology is to be allowed then employees need to be advised of its use, due to the interception of private information. There is a mixed view on IM security; however there are solutions to plugging leaks and enforcing policy to keep employees in line with company policy. Productivity Instant Messaging can be a productivity-enhancing tool for efficient financial communications with co-workers, clients, customers, vendors, and the like. Although, Nehra (2005) explains that various reports describe how productivity may be adversely affected by employee abuse or overindulgence in personal instant messaging communications. This presents the major challenge with implementing IM technology into the workplace. One thing that has kept deployment of instant messaging at investment banks a low priority among business managers is the perception that it can distract workers from more critical tasks, says Kim Cross, a VP at Morgan Stanley Investment Management. Many financial companies believe instant messaging detracts from employee productivity and introduces new temptations to converse with others beyond their job duties. From the author’s experience at Morgan Stanley, IM offers the opportunity to converse quickly and continuously with friends in a secret manner that the telephone does not allow and this can decrease productivity significantly. However, a study by the Radicati Group looked at the time it took employees to complete two typical daily tasks—both with and without IM—and found that companies could save an average of 40 minutes a day per user with IM. They estimated that a financial services organisation with 5,000 people could see a $37. 5 million a year savings in productivity. Limitations and communication consequences are a definite cause for concern when implementing a new IM system. Possible decreased worker productivity, a lack of direct communication among colleagues, and misinterpretations can be common place when using instant messaging. Additionally, IM does not give the same personal verbal delivery that direct communication gives. From the author’s experience at Morgan Stanley, IM does not always give the same authority or conviction that a ‘real’ conversation over the telephone permits and so may not make clear enough the importance of particular requests. Although IM may have been initially frowned upon, some managers look at this communication as team building â€Å"because it enables peers to bond and form stronger working relationships. † (Robbo, R). However not all sources concur. Shiu, E. (2004), suggests that in fact, 32% of those individuals who use IM in the office acknowledge that IM can encourage workplace gossip, and 29% note that IM has been a distraction at some point in the past. These extensive risks still do not change the opinion of most executives, who are in agreement, that blocking IM entirely is not an option. The question is how to bring out the benefits of consumer IM while ensuring it is properly managed, secure and compliant. The impact of IM when implemented in financial service organisations The primary reason that IM has been such a success in the business environment is that its benefits, even when weighed against the risks, are both immediate and tangible. Industry-wide effects Centrally managed IM deployments have just begun to take hold in business, says Aberdeen Group analyst Dana Gardner. The rapid increase in the adoption of IM is linked to the fact that recent university graduates have developed a strong affinity for IM. Although there is a strong concern over the security of consumer-grade IM, managers have to accept that IM is a preferred communication technique of young employees. Clients want to use IM and so employers have to set-up and integrate IM in to their firm’s communication network. The clients of broker-dealers will also deal with their competitors, and they don't want systems that only allow them to deal with one company so firms need to meet the IM requirements of clients. Top investment banks now share directories to create an open messaging environment for broker-dealers to communicate with each other and to customers. It even opens up the ability for customers to communicate with other customers. Barriers in the industry have come down as customer and broker-dealers are commingling in one giant address book. IM provides a direct mode of communication with co-workers, customers and vendors that enables far closer and more personal relationships than is available in virtually every other means of electronic communications. This could have the negative effect on the industry of making information more transparent and therefore increase price transparency and negatively affect profit. On the other hand, the increase in real-time communication links to other broker-dealers and clients could mean a larger more liquid market. Performance of employees Business IM allows employees to be more efficient in their work output. Data shows that IM users engage in multi-tasking at a rate considerably higher than non-IM users. In a recent survey, 91% of IM users reported that while participating in IM sessions they also perform additional tasks either most or all of the time (Haskin, D. 2004). However it can be argued that users tend to chat often, setting aside legitimate business tasks in the process. Some employees find it hard to concentrate when messages are continually popping up on screen. If the user has their presence detection on, then colleagues and clients will believe that their message has been received and read, therefore attention needs to be given to each instant message. This could mean an overload of information for the user, continually distracting them from their primary tasks and therefore decrease their performance. However, the more successful employees could use the multitasking capability of IM to take on even more work, and show up the less successful employees. This in turn could create the effect of preventing those less successful employees from wasting time using IM for personal use. The multitude of information sources that broker-dealers have competing for their attention could definitely result in a negative impact on performance, as incoming messages add to the pile of e-mail, news summaries, and other data that competes for the users productive time. Therefore management needs to maintain whether some users perhaps require IM and others do not, and if they do, to enforce rules and policies to battle the challenge of productivity. This policy along with many other things, would need to drive home this point that the organisation provides IM to boost business productivity, not as a diversion from work. It needs to be instilled into employee’s that policy will be enforced to coerce users from personal IM use. Given the chatty nature of IM, some would argue that it is bound to have a negative impact on performance, as employees chat about personal matters throughout the workday. Although personal chat with other employees throughout the day could help forge more inter-firm relationships, and this ollaboration could have a positive impact on overall company performance as more and more employees in different teams are being brought together. Therefore the firm needs to find a way to manage this balance between business and personal conversations. This seems unlikely to be controlled to a large extent and so a large amount of trust will be left with the employee. Internal and External Relationships IM appeal s to broker-dealers because they feel that IM delivers a necessary advantage that e-mail and the telephone cannot match, which is speed. They believe that they will not get clients if they do not use the technology. Banning IM seems a possible solution to the risks of IM, however it may not be so easy to enforce. Many broker-dealers facing the financial markets, where seconds make the difference between profit and loss, may be reluctant to part with consumer-grade IM. The impact of banning consumer-grade IM across the board may trigger a revolt among employees and the clients they are in regular IM contact with. Therefore imposing an IM ban could result in the loss of valuable employees to competitors who are more tolerant of the use of IM in the financial markets. As discussed in the previous section, personal use of IM can be used to help forge relationships with colleagues. These same personal conversations can be transferred to those employees who are client facing and used as ‘business’ conversations in order to build and maintain relationships with clients. The fact that IM conversations can be left open so that brokers can maintain an on and off dialogue throughout the day with their client adds significant value. Previously a broker could not call up a client to, for example, make a flippant remark on current news but this can now take a few seconds to write it in an open IM window and their client could view this while multitasking. This casual dialogue can help maintain client loyalty with is the crux of sales in the financial services industry. Not surprisingly, the vast majority of employees believe that the use of IM within their organisation improves productivity, external relationships, and their efficiency. More significantly, however, is that even business managers and IT personnel who are aware of the risks posed by IM, overwhelmingly favour its use noting that the added â€Å"real† business performance more than offsets the potential risks. Management Recommendations Managing the problems and challenges associated with implementing IM This author recommends a dual approach in response to the challenge of the multitude of IM programmes in the company. Primarily, installing an enterprise-grade IM system (an internal instant messaging system where messages can be encrypted) for all employees. Then employees can be allowed to communicate confidential information internally, but only in the guidelines of the company’s written policy. The second approach is to allow client-facing employees consumer-grade IM who insist they need it to keep client loyalty, even though consumer IM tools travel across the public Internet (not encrypted). Monitoring and security can then be focused more on these employee’s who potentially open the organisation to security breaches such as eavesdropping, accidental confidential information loss, and also the risk of intentional information leaks. This can be further facilitated by the installation of content filters to capture messages that use potentially problematic words like â€Å"rumour†. Then these IM conversations can be reviewed to ensure that neither laws nor corporate policies are broken. Achieving the business benefits of IM Instant messaging use is recommended to communicate instantaneously with other brokers, dealers, clients and other third parties so that client loyalty is increased through immediate responses and colleagues can get answers from client questions in real time. IM should be used as a less intrusive method of avoiding tasks, as a broker can use IM simultaneously with chatting on the phone and e-mailing. IM presence detection should be used so that it is possible to see whether clients are online and open to chat and brokers can determine whether they are available to incoming IM transmissions. This can be reflected through IM settings such as â€Å"away† and â€Å"in a meeting† which lets the user know that the instant message may be read or acted upon. In addition managers can quickly see who is online at the office at any given time. Employees can also be strategic in the way they contact their colleagues by first checking they are online before, for example, calling them. IM should be used to avoid the cost of travel and group conference calls through multiple people joining in on real-time IM conversations. Also whilst travelling, employees can engage in IM conversations with clients and colleagues to facilitate the efficiency of information flow. All conversations should be logged for at least three years due to compliance so that after the instant message vanishes, after it is read, and its window closes, employees can go through archiving and find the message again if they did not note important information from the conversation that they need. Further to this archiving should take place to meet industry regulations and as possible evidence to future litigation. Controlling the transition and longer term issues Once the extent of employee’s IM use is identified, the transition should be controlled through developing a strategic IM management plan. A team should be formed, comprising of risk management, compliance and litigation in order to structure a companywide policy so the firm meets finance regulations, and information security needs. Senior Management should lead the IM management controls through bridging the gap between problems and recommending effective tools to manage those risks, such as retention and archiving tools as previously discussed. New financial regulations would need to be adhered to in existing business activity and also reviewed in new financial markets. Therefore future investment in new technology is vital to help maintain IM use and abuse. The firm will need to develop effective, accessible IM tools to meet future needs of broker-dealers who rely on IM for internal and external communication. Employees need to be trained and kept up to date with regulatory guidelines and retention rules. Long-term issues of security will need to be constantly addressed. Those employees who are using consumer-grade IM offer the constant possibility of data theft and electronic eavesdropping. IM needs to be constantly updated with the latest antivirus software to protect from viruses and other threatening security breaches that might be able to penetrate the firms firewall. Finally, if the direction or structure of the firm changes then IM policy must be changed to meet this. References Electronic journals Mearian, L. (2004) IM Spread Causing Management Headaches. Computerworld. [online] 38(49), 7. Available from: http://proquest. umi. com/pqdweb? index=35=759250251=1& sid=6=3=PROD=PQD=309=PQD=1231380861=5238 [Accessed 4 January 2009] Cameron, A. F. & Webster, J. (2004) Unintended consequences of emerging communication technologies: Instant Messaging in the workplace. 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