Art Appreciation Essay Example | Topics and Well Written Essays - 500 words

Art Appreciation - Essay Example The â€Å"Number 1† painting is also known as the Lavender Mist. It is one of the most famous of Pollock’s paintings using his â€Å"drip technique.† Here, a visual prejudice blinds the viewer to the appreciation of real qualities beyond their visual experience as the dripped skeins of colors and the sensation of their existence in a deep space produce the aura of a lavender mist. (Peacock 1995, 207) As with most paintings in Abstract Expressionism, Number 1 features a natural focus on expressivity manifested in gestures as evident in the border of handprints, the body is logos, literal mark-making, among others. The idea is that a painting is not merely a painting, but instead, the painter – his body and his self-expression - is the painting or at least one with it. For me, â€Å"Number 1† is an example of fine art because it shows the exuberance of the American contemporary art, particularly in Abstract Expressionism. While the masses may seem to be offended with â€Å"Number 1† because they cannot make out the meaning visually, the painting communicates to the emotion. It banks on the response or at least the impression of people in the context of their view of reality. Also, as Pollock, himself explained: â€Å"It seems to me that the modern painter cannot express the present age of the airplane, the atom bomb, and the radio in forms of the Renaissance or of any other past culture.† (Gilbaut 1985, 246) And so, in a gigantic piece he sought to capture the very essence of his subject matter and was successful in it. The major reason why Willem de Koonings painting "Excavation" is a masterpiece for me is that it translated and condensed what critics call as our period of anxiety within the four corners of the canvas. The visual impact of the intertwined flashes of eyes, teeth, lips gives the impression of a seething crush in form and it

TOPIC NO 9 Essay Example | Topics and Well Written Essays - 2750 words

TOPIC NO 9 - Essay Example Factors such as culture and history are not included in the Porter’s five forces industry analysis. Because of this, the model is seen as inadequate as an environmental assessment tool. Moreover, the forces behind the model are grounded on the premise of constant returns to scale by Alfred Marshall in his ‘theory of production.’ This paper aims to discuss the changes, such as increasing returns to scale and their effect on the intensity of the forces. Factors such as culture and history and their effect on the forces are also explored. When constant returns to scale is a vital premise where Michael Porter has derived his Five Forces of the industry model, it mainly based on Alfred Marshall’s theory of production. According to Marshall’s theory of production, for a certain increase in the level of all inputs, the output will increase by the same proportion (ILSTU.edu 2009). This has been identified as the constant returns to scale. The concept of constant returns to scale has been the traditional assumption as regards the theory of production. However, changes in our times state that the concept of constant returns to scale is not always the case for production. As firms strive to build production competitive advantage in order to lead the competition, they strive to produce more outputs for a given increase in the level of the inputs, hence increasing returns to scale. As stated in Porter’s five forces: â€Å"In the traditional economic model, competition among rival firms drives profits to zero. But competition is not perfect and firms are not unsophisticated passive price takers. Rather, firms strive for a competitive advantage over their rivals. The intensity of rivalry among firms varies across industries, and strategic analysts are interested in these differences (AUEB.gr).† â€Å"[†¦] unique industry characteristics that define the industry.

Five Goals Expected to Learn From Business in Singapore Essay - 7

Five Goals Expected to Learn From Business in Singapore - Essay Example It is planned to carry on research and form an understanding of how Singaporean culture relates to and how they do business. How Singapore do business with another country which does not agree with their beliefs? This research paper will try to analyze the Singapore Culture through the lens of Hofstede’s dimensions and evaluates the same with the American culture and to find out the main areas of issues for the business between Singapore and USA thereby offering a recommendation to fish out these differences to further enhance mutual business between these nations. (www.geert-hofstede.com/singapore.html, 2014). Singapore culture can be regarded as ‘pro-west’ in many manners and it more or less reflects the Anglo-culture. The traditional Singaporean culture encourages the work culture that is comprised of collective decision and group harmony and Western business people who visit Singapore would often face a vast variance and clearly visualize how collectivism still exists in a modern society (Wong, 2013, p.132). In this section of the research paper, more emphasis will be given to what is Singapore’s impact on the business world internationally not just local or regionally? IFC and the World Bank rate Singapore as leading and number one nation as regards to ease of doing business and places Singapore is in the second place in the international level for the strength of investor’s protection. The port of Singapore remains as the globe’s busiest seaport and remains as the second top center for containerized transhipment traffic. Singapore remains as the globe’s 4th largest center for foreign exchange activities.  

Case study Essay Example | Topics and Well Written Essays - 500 words

Case study - Essay Example A patient might not understand why a particular medication may not be available in his/her country. For instance, a 46-year old woman who purchased an over-the-counter weight loss medicine in South America cannot buy the similar medication in US. Your health teaching as a care provider is to inform them of the role of FDA and the process underlying the issue. The FDA restricts and regulates imported medications to address safety of individuals. In addition to this regulation and unavailability of some drugs is the time it takes for a drug approval. The time it takes from a drug approval starting from the drug discovery to the FDA’s Inspectional Background and Data is 22 months duration of waiting (Hertzman, 9). Aside from FDA’s restriction in the drug approval process, a comprehensive risk assessment is performed to determine safety and efficacy of a certain drug to human subjects. In line with this are phases of clinical development and are categorized in Phase I to Ph ase III (Madzarevic, 49).

Microsoft Essay Example | Topics and Well Written Essays - 750 words

Microsoft - Essay Example The products are critical in improving communication and management of data in institutions. The company’s production processes follow strict guidelines as apparent in the application of conventional techniques. The techniques facilitate the quality aspect of the products. It is imperative to note that the company has risen from a small in-house business outsourcing institution to a renowned supplier of electronic items. This was achievable through its noble and development oriented strategies. The strategies have been instrumental in its growth. For example, they provide the relevant operating framework with performance ideals. The company enjoys a wide market share and plans to expand further to new market segments. Findings based on strengths and weaknesses Microsoft Corporation displays strengths that has steered its growth. The company has diversified revenue base, ability to customize products to the locals, strong product brands that includes Ms Dos Microsoft windows, P Cs, basic interpreters and operating systems (Wilke 2003, p. 3). Further, it has effective distribution channels, good infrastructural set up, expansive market share and qualified personnel. Its weaknesses and threats include possibility of new entrance, limited network and diminishing raw materials. The opportunities and strengths present the company with lucrative prospect that seeks to leverage its international competitiveness. The analysis enables an institution to understand its current position and design viable strategies for improvement and sustainability. Concepts and theories The corporation is a multinational institution with a wide network. It is credited for adopting conventional human resource practices. The administration of company values its employees and treats them with decorum. This has contributed to the institution’s exemplary growth through development of viable teamwork groups. The groups enhance cohesiveness and participation in decision-making (Wilk e, 2003, p. 4). This has facilitated the development of innovative and creative ideas that focus on growth. The company adopts the international human resource management (IHRM) that ensures effective allocation of resources, utilization of human capital, hiring of diverse group of individuals, avoidance of regional disparities and cultural risks. The company through ethical principles and guidelines manages a huge number of staff who contributes to its success. The ethical principles are relevant because they promote cohesiveness and execution of activities based on mutual understanding (William. 2005, P, 3). The company offer favourable remuneration and terms of work that facilitates employee retention and motivation. This advances their performance capacity. This is vital in ensuring optimal production of the electronic items including software that meet the global demand. Analysis As noted, the company was established with the core mission to become the global consumer product a nd be the leading distributor of electronic items and software’s. Its fundamental values focus on quality enhancement, timely delivery of services and effective personnel administration. This propels the realization of the core values and institutional vision based on sound HR policies that are internationally relevant. Achieving exemplary performance and competitive advantage requires adoption of viable HR policies and formulation of acceptable objectives

Humanism and the Renaissance Essay Example for Free

Humanism and the Renaissance Essay Founded on the ideals of Italian scholar and poet Francesco Petrarca during the late fourteenth century, Renaissance humanism centered itself on humanitys potential for achievement. Although God is credited for creating the universe, human beings are the ones credited for developing and sustaining it. The shift was away from understanding the world through faith and towards a broader intellectual and scientific understanding of it. A humanist, in this context, was simply a teacher whose curriculum focused on the liberal arts. By the mid-fifteenth century, this curriculum evolved to include rhetoric, grammar, poetry, history and moral philosophy (or ethics). Together these individual disciplines comprised the core of humanistic studies. But the ideas introduced were not altogether new. Humanists relied on primary sources such as the classical literature of Greece and Rome. What is remarkable, however, are the great lengths to which the movement sought to recover and reintroduce old ideas to the present times. It is remarkable when considering that after the fall of Rome in the fifth century much of the texts housing ideas central to humanistic thought were virtually lost or buried in obscurity. Ancient ideas within these classical texts were considered crucial because humanists considered the ancient world the pinnacle of human achievement and thought its human accomplishments should serve as the model for contemporary Europe. After the fall of Rome, human progress and achievement slowed to a trickle. Western civilization became mired in a period of cultural decline that the Renaissance mind considered a dark age in human history. The only way out was a return to the ideas propelling the ancient world forward. It was, in essence, a trip back to the future. Humanism profoundly affected the artistic community and how artists themselves were perceived. The medieval mind viewed artists as humble servants whose talent and ability were meant to honor God. This is evident in the work of medieval artists adorning churches and cathedrals. Renaissance artists, in contrast, were trained intellectuals well versed in the classics and mathematical principles. And the art that they created reflected this newfound perspective. The Renaissance also gave birth to a new class in the social order the merchant class which closely resembles what we now refer to as the middle class. And this merchant class had the means to commission an artists services. This dramatically expanded the sources of patronage (i. e. financial support) as well as the themes an artist could consider. No longer was patronage a luxury only the aristocracy could afford. And no longer were commissions relegated primarily to religious considerations. Enlightened citizens with the means to afford it considered artistic patronage an important activity. And with expanded participation, new kinds of art were introduced into the Renaissance landscape. Aristocratic patrons often commissioned portraits. But much of the art commissioned at the time was at the patronage of the merchant class. This art was primarily secular in nature including mythological subject matter and adorned the halls and rooms of town homes and country villas. Citizens such as Cosimo de Medici were civic minded and supported notable worthwhile causes. De Medici supported libraries, for example. He also had a fondness for the work of the artist Donatello and an interest in merging Platos ideals with Christian philosophy in an effort to demonstrate how lifes spiritual aspects can overcome physical limitations (leading to a revival of Neo-Platonism). Cosimos grandson Lorenzo the Magnificent was an avid art collector and benefactor to a young Michelangelo. This underscored the benefit of associating intellectual pursuits with the resources to pursue them. It cast a wide social net along with establishing a thriving market place for creativity. One work of art that embodies the ideal of the Early Italian Renaissance is Donatellos Penitent Magdalene. The work was commissioned between the late 1430s and 1450s. It is a life-size polychromed wood sculpture. The contrapposto positioning (one leg bearing weight with the other relaxed) is a reference to classic Greek style. The work presents Mary Magdalene as a sympathetic figure who has paid her dues in life. It is an emotionally moving piece. Once a prostitute, Mary evolved to become one of Jesus Christs most devout followers and trusted confidants. She was the first person to whom Jesus appeared after the Crucifixion. Afterwards, however, she lived her life in perpetual penance and self-imposed suffering to atone for the sins in life she committed. The sculpture presents Mary as old and frail with few hints of her long lost and forgotten beauty. What does remain to remind us that this was once a strong and beautiful presence to behold is a refined bone structure, the contrapposto pose and long hair. But the trembling hands raised as if in prayer and tattered dress convey that this woman has suffered long enough. She is deserving of forgiveness and compassion. This is the work of an artist well versed not only in the spiritual origin of this womans story, but our own sense of humanity and what we may aspire to.

Research Paradigms and Concepts of Ontology and Epistemology

Research Paradigms and Concepts of Ontology and Epistemology Chapter 2: Research Methodology This chapter of our thesis will illustrate the methodology that was undertaken in order to conduct our research. This chapter is further divided into two sections. In 1st section of the chapter we will discuss theoretical methodology. It includes research philosophy, research approach and research strategy. In 2nd section of the chapter we will discuss practical methodology. It includes choice of the subject, preconception, perspective, literature, data collection and sampling of methods. Here we will not only describe the methods that are opted during our research process but also try to explain and justify why they are preferred over the alternatives methods that are available. 2.1: Theoretical methodology 2.1.1 Research philosophy During a business research it is imperative to think about different research paradigms and theme of ontology and epistemology. These research paradigms represent a parameter that controls the research carry out from research design to the conclusion and recommendations of the research. Thats why it is of great significance to understand these features in order to move in harmonious manner and actions leading towards unambiguous investigation and making sure that researcher biasnesses are minimized (Flower, 2009, p 1). 2.1.1.1 Epistemological Choice â€Å"Epistemological issue concerns with the question of what or should be regarded as acceptable knowledge in a discipline†.(Bryman Bell, 2007, p. 16). Eriksson and Kovalainen describe epistemology as â€Å"what knowledge is and what are the sources and limits of knowledge† (Eriksson and Kovalainen, 2008). It is important that the given piece of knowledge is studied in the relative manner. Epistemology is further divided into positivism, interpretivism and realism. Positivism: Positivism is the resultant of research in natural science where a hypothesis is tested that is derived from a prevailing theory. Positivism emphasizes that true and reliable knowledge is that which stands upon logic, practical experience and affirmative authentication. â€Å"The purpose of theory is to generate hypotheses that can be tested and that will be thereby allow explanations of laws to be assessed†(Bryman Bell, 2007, p. 16). Positivism is generally linked with quantitative research where one selects a theory and piece of knowledge, then collects data and interprets it and hence proves the hypothesis to be true or not. â€Å"The researcher seeking to adopt a decided positivist stance exercises choice of the study, the research objective to pursue and the data to be collected† (Saunders et al., 2009, p. 114). It is believed that the positivist researcher will use structured methodology with the aim of producing replicability. Interpretivism Interpretivism is a stance contrary to positivism and is also known as anti-positivism. Philosophers of social science believe that subject matter of a research in a social science that is undertaken upon some individuals and personals or institutions are different from that of the natural science (Bryman Bell, 2007, p. 17). According to Saunders et al., (2009) phenomenology and symbolic interactionism are the two intellectual traditions that interpretivism comes from. â€Å"Phenomenology refers to way in which we as humans make sense of the world around us. In symbolic interactionism we are in continual process of interpreting the social world around us in that we interpret the actions of others with whom we interact and this interpretation leads adjustment of our own meaning and actions† (Saunders et al., 2009, p. 116). Realism: Realism is another branch of epistemology that is similar in nature to positivism. According to this philosophic position reality does exist independently of the human realization. There are two main types of realism. Bryman Bell, 2007 named them empirical realism and critical realism. Whereas Saunders et al., 2009 name them as direct realism and critical realism. Main difference among critical and direct realism is that critical realism claims that our knowledge is developed in two phases. Firts there is an object and substance we see and experience trough our senses and in second phase process goes on after the senses receive the sensations. Whereas direct realism claims first phase is enough and what we see is what we get (Saunders et al., 2009, p. 117). In epistemological consideration of our research we take the positivist position. The reason behind selection of positivist stance is what we studied in the literature we develop a hypothesis on the basis of prevailing theories and in our empirical findings we will test this hypothesis for acceptation or rejection. What we are going to study is the usefulness of banks internal evaluation model (CAMELS) with respect to external credit rating models such as PACRA and Moodys. Another reason behind selection of this stance is the use of secondary data and positivism is usually linked with researches that are quantitative in nature such as statistical tools and figures. 2.1.1.2 Ontology: This pillar of the research paradigm deals with the nature of social entities and realities. This raises the question of â€Å"whether social entities can and should be considered objective entities that have reality external to the social factors, or whether they can and should be considered social construction build up from the perception and actions of the social actors† (Bryman Bell, 2007, p. 17). Above we discussed two aspects of ontology, are known as objectivism and constructivism respectively. In ontological consideration, our research thesis is objectivist in nature. For empirical finding of our thesis we will use statistical tools such as financial ratios. The result provided by these ratios will be rated on the scale of 1 to 5 based on the issued ranking system of CAMELS rating model. Then we will compare the result provided by CAMELS rating model with the issued ratings of PACRA rating agency of the same period of time. So it is obvious from our choice of ontological consideration that the research will be free from every sort of biasness of the authors. 2.1.2 Research Approach: At this stage of a research one has to decide on the basis of chosen theory thats is either learnt or contained in the literature that he/she will follow a deductive approach or inductive approach. In deductive approach one develops a hypothesis from the theory and devises research strategy to test the hypothesis to accept or reject it. Whereas in inductive approach one has to collect data, analyze it and develop theory based on the result of analyzed data (Saunders et al., 2009, p. 124). 2.1.2.1 Deductive approach: This approach represents characteristics of the correlation among theory and research. On the basis of gained knowledge that may be inferred from the theoretical reflection about the research field, one assumes a hypothesis that will be observed in empirical analysis (Bryman Bell, 2007, p. 14). According to Robson (2002, cited in Saunders et al., 2009, p. 124) deductive research goes through 5 steps. First develop a hypothesis from a theory, second express the hypothesis in operational terms, third is hypothesis testing, fourth analyzes the particular result of the inquiry and in the fifth and final stage verifies or modifies the theory on base of your findings. Collection of quantitative data is an important characteristic of deductive approach although it may use qualitative data some times. In deductive approach highly structured methodology is implemented to assist replication to guarantee reliability. Generalization is another important characteristic of deductive approach (Saunders et al., 2009, p. 124-125). 2.1.2.1 Inductive approach: In inductive approach theory is developed on the basis of research observations. Researchers in inductive approach are predominantly concerned with the events that are actually taking place and deal with the small sample as against the large number in deductive approach. Researchers most likely use qualitative data in this approach. Structure of the research in inductive approach is more flexible as less generalized as compared to highly structured methodology and generalized characteristics of deductive approach (Saunders et al., 2009, p. 126-127). In our research we will use deductive approach and not the inductive approach. The primary reason behind selection of this approach is correlation among the theory and hypothesis. On the basis of studied literature and constructed theoretical frame work we have derived a hypothesis. Our thesis findings will lead us towards the acceptation or rejection of hypothesis which is superiority of banks internal evaluation models with respect to external rating agencies models. As we know that deductive approach is highly structured methodology so our thesis will follow the predefined structure.. 2.1.3 Research strategy: According to Bryman Bell, 2007 â€Å"by research strategy, we simply mean a general orientation to the conduct of business research†. Two separate clusters of research strategy are qualitative and quantitative research. Both quantitative and qualitative researches are different from each other not only on the basis of quantification and measurement of the result but also on the basis of epistemological and ontological foundations (Bryman Bell, 2007, p. 28). 2.1.3.1 Quantitative research: Quantitative research is mostly used in deductive approach where the aim of the study is to test a hypothesis for proving a theory. In quantitative research analysis of the result is mostly in numbers and quantify. Another characteristic of quantitative research is size of the sample is very large. Quantitative research is subject to a very low level of biasness in the interpretation from the researchers as statistical tools are used for analysis of the results. Quantitative research is more generalizable. Quantitative research is more positivist in nature when it comes to epistemological orientation. While in ontological orientation quantitative research is objectivist in nature (Bryman Bell, 2007, p. 28). According to Bryman Bell, 2007 quantitative research have 11 steps. Steps mentioned by them in their book Business research methodsare as follow 1st Theory, 2nd Hypothesis, 3rd Research design, 4th Devise measures of concepts, 5th select research site, 6th select research subjec t / respondent, 7th administer research instruments / collect data, 8th Process data, 9th Analyze data, 10th finding and conclusion and 11th is write up findings and conclusions. Fig 2.2 Based on the idea from Bryman Bell, 2007 the process of quantitative research. 2.1.3.2 Qualitative research Qualitative research is the contrast of the quantitative research in almost every aspect. Qualitative method is mostly used in inductive research where emphasis is on the generation of a theory that is based upon research observation. Analysis of the qualitative research is based upon the words and statements and mostly in textual form. Qualitative research is more interpretivist in nature when it comes to epistemological orientation. While in ontological orientation qualitative research is constructivist in nature. Size of the sample in qualitative research is small. Researcher in the qualitative research requires special skills for the interpretations of the results. Contrary to quantitative research, qualitative research is less generalizable and very low level of replicability. (Bryman Bell, 2007, p. 28). Below is differentiation chart of quantitative and qualitative research based on different research aspects. Research Aspect Quantitative Research Qualitative Research Scientific Method Deductive Inductive Nature of reality Objectivist Constructivist Research objective Description, explanation and prediction Description, exploratory and discovery Nature of observation Narrow angle focus lens Wide angle focus lens Form of data Quantitative data Qualitative data Sample Size Large sample Small sample Data analysis Statistical tools Search for patterns, themes and holistic features Results General findings Particular findings Conclusion Statistical report Narrative report Self made chart based on the studied books and articles. In our research thesis we will use quantitative research strategy instead of qualitative research. Selection of quantitative research strategy is based upon number of arguments other than presentation of result in numerics and figures. As in epistemology consideration our research is positivist in nature and in ontological consideration we has opted the stance of objectivist, this is another reason for our selection of quantitative research. Our research is basically concerned with numbers and use of statistical tools to measure and analyze these numbers and figures. We have selected deductive approach which is usually related with quantitative research strategy and we argued about its selection in previous section. So keeping in mind our research question and objective we selected this strategy that will be appropriate and will guide us though out our research process. 2.1.4 Nature of Research The relationship between events or factors is often described, examine, and explain by the researchers. The research can either be descriptive, explanatory, exploratory or predictive nature. Nature of the research totally depends on research question. In descriptive research the researcher tries to identify or describe the events. For example in descriptive research if the question is â€Å"What is the present or past state of events?† for this the researcher selects the representative sampling of the people. Whereas explanatory research is for events to be explain by the researcher and look for fundamental reasons. Explanatory research is also referred to interpretive research. For example the researcher conducts explanatory research if they ask â€Å"Why have these events happened in the manner they did?†Ãƒâ€šÃ‚   Or â€Å"What are the implications of these events occurring as they have? (Rubin et al, 2010, 198)†. Exploratory research is a type of research when researcher is unable to find any or very few prior studies about the research question. Exploratory study aspire researcher to look for the ideas, Patterns, or hypothesis, instead of testing or verifying a theory. In exploratory research typical techniques are used here researcher comprises observation, case studies, and previous studies. In this type of research the researcher uses both qualitative and quantitative data. Exploratory research totally focuses on achieving the imminent and acquaintance with the subject area to examine at later stage (Collis Hussey, 2009, p. 6). Predictive research advances one step further than explanatory research. Aim of the study is to create justification for what is happening in particular circumstances. Predictive researchis concerned with the anticipation of a possibility of some occurrence. Aim of predictive research is to generalize the investigation by forecasting some phenomena on the foundation of hypothesized, general relationships. Henc e we can say that solution provided by a predictive research in a particular situation can be applicable to some other problems of similar nature, provided that the solution is valid (Collis Hussey, 2009, p. 6). Nature of our research is exploratory in nature as we didnt find any previous research work on the same research problem. There are some articles and thesis that reflects the usage of camels rating model framework on any particular or limited number of banks. As in our research we will try to investigate the superiority of banks internal rating models with respect to external credit rating agencies, we found no research work in this particular field. Our research will open a new window of research in the field of banking rating systems. 2.1.5 Time horizon of research: Time horizon of research plays a very significant role for both authors of the research and readers of the research. From researchers point of view it is important to understand that what type and quality of data they are collecting for the research and how easily it can be collected. Some time it is very difficult and time consuming to collect the data spread over long period of time. From readers point of view time horizon of the research is of great importance as it shows credibility and quality of the research observations. According to Sunders et al. 2009 time horizon of the research can be divided into two types; cross-sectional research and longitudinal research (Saunders et al.2009, p. 155). 2.1.5.1 Longitudinal study Longitudinal study is such type of a research in which same sample of population is observed over a longer period of time. Longitudinal research is a type of observational research in which the subjects are observed without manipulations and hence can be argued that it has less potential to detect cause and effects relationships of variables as do by the experimental studies. In longitudinal research, researchers have the opportunity to observe changes and improvement that took place over the period of time (Lindborg Ohlsson, 2009, p. 15). 2.1.5.2 Cross-sectional study Cross-sectional research is a study of sample observations or of a population in which a researcher makes her/his study and get result for a short period of time or on a single occasion. From the population researcher takes sample and within that sample he/she distribute the variables, and sometime the variables which are predict and designated on the bases of reasonable information which he/she gets from other sources. Descriptive and exploratory studies are frequently cross-sectional. For example a single survey of a country to describe the population of the specific country at a given time. Cross-sectional study is also very close to explanatory studies. A researcher conducts a survey on national base to examine the nation problem at a given time (Hulley et al, 2007, p.109).   Keeping in mind above arguments about longitudinal and cross-sectional studies, we can easily say that our research is a cross-sectional study. As in our thesis we will manipulate one year annual financial reports for the year ended on 31st Dec 2010, and all 17 banks belongs from Pakistan. It would be of great significance to use annual reports of more than only year but the problem is at the same time we need to collect published credit ratings of banks for the same year and that was very difficult to collets as most banks do not keep their old records of ratings. As we discussed above that cross-sectional studies are mostly exploratory or descriptive in nature and our research is also exploratory in nature. 2.2 Practical Methodology: Selection of the research topic: Both authors of the thesis come from Islamic Republic of Pakistan where banking industry is on the boom despite of the general economic turmoil. As far as our educational background is concerned, one of the authors has done of BBA (Hons) with major in Finance and second author has done MBA with major in Finance, in which we studied several courses about banking and finance. This was the point where our interest was developed in the field of banking. Now being the students of Master in Finance, keeping in view our future professional careers in the field of banking and finance, we choose this research topic. As our research is focusing on CAMELS rating model that takes into account 6 important component of banking industry, it will give us better understanding and knowledge about performance of banking industry particularly in Pakistan. Another reason behind selection of this research topic is our personal curiosity about the ratings of the banks particularly in Pakistan. Preconception: Preconception about the research topic is quite important as it develops interest of the researcher and involves him neutrally in the topic. Both authors of the thesis worked as an internee in conventional bank in Pakistan after completion of their studies and have gained some practical experience of banking. In our practical experiences we observed that not all of above but some of these factors that are addressed in ratings models are of great importance for better performance of the banks. Perspective: Perspective provides point of view about the chosen field of study from several angles with different aspects, providing a pool of options from which the most suitable one is to be selected while keeping in mind your research question and purpose. Our thesis is based upon the superiority of CAMELS rating model results with respect to external rating agencies; we will be looking at it from internal point of view of the banks and their regulatory authorities. But it readers can also be external users such as rating agencies and will be useful for them as well. Data Collection Method: For any type of research study data collection is an important aspect. Data is the source from where researchers can get relevant information to answer the research questions. To gather applicable information researchers use primary and secondary data as a sources. Primary data is collected or perceived straight from the first time experience. Or we can say that data collected for the first time particularly for this research problem. The sources contained in primary data are questionnaires, observations, social surveys, experiments and interviews. On the other hand secondary data is published and the data collected by someone else in the past. We use the published and collected data by someone else to solve our problems but the problem might be different from others. The sources from which we can collect secondary data are articles, books, journals, and web-based data (Ghauri Gronhaug, 2005, p. 91-102). Theoretical framework of our study that is based upon secondary data, we read all relevant literature to our study that gave us full knowledge and beneficial understanding of our research questions. On the basis of this further study should be conducted. Findings of our research are totally dependent upon secondary. Findings of our research are complex in nature but our secondary data will help us to achieve this objective. The electronic search engine is the main source in our study we used Umeà ¥ University electronic library, Google search, electronic books; we also use printed materials like books. Literature studied: Access to the relevant and authentic literature for a researcher is of great importance. It provides basis for the researcher to build upon the theoretical frame work of a chosen field of study and research design (Brayman Bell, 2007, p. 94). In the beginning of our research we studied some articles regarding the financial crises caused by the collapse of leading financial institutions of that time and banking industry of Pakistan afterwards we collected some articles and books through university archives database and internet search about research methods to construct research methodology chapter of our thesis and to guide us throughout our thesis. Articles are mostly collected from journals of Banking and Finance, journal of international banking regulation and the review of financial studies accessed through university provided logins on its database. It is a difficult task to gather relevant articles as one comes across so many articles that look relevant but they are not in rea l. We also studied some online books that are available via different websites such as www.book.google.com. We also gathered some material such as brochures and working papers about the procedures and methods used for ratings of financial institutions form rating agencies websites including SPs, PACRA, and regulatory authorities such as Basel and SBoP. The collected materials provide us better understanding and capabilities to work in the field rating systems.   Sampling: Sample is a subset of whole population that is selected to represent the population in any specific research to perform statistical inferences and to make judgments about the whole population on the basis of selected sample. For researchers it is very important to select appropriate sample from population to make inferences. There are two primary reasons why researchers select a sample for their research instead of studying the whole population, 1st it is very costly and 2nd is the time limitation for a research. According to Bryman Bell, sample is a fragment of population chosen for examination or research. Talking in a broader sense there are basically two types of sampling approaches: Probability and non probability approach (Bryman Bell, 2007, p. 182). Probability sampling is an approach in which each and every unit of population has equal chance of being selected in the sample and their probability of selection is greater than â€Å"0†. This is the most suitable approach that eliminates bias in sample selection and reduces sampling error. Simple random sampling, systematic or interval random sampling, stratified sampling and cluster sampling are some types of probability sampling (Brayman Bell, 2007, p. 182). Whereas on the other side non probability sampling is an approach in which probability of selection of elements is not known or some elements of the population have no chance to be selected as a sample. Referral (Snow ball) sample, quota sample, criteria sample, homogeneous sample, critical sample and matched sample are the types of non-probability sampling. Referral sampling method is also knows as snow ball sampling. This type of sampling procedure is used when it is difficult to find subjects or samples for the research. In this type of a research sample we cannot identify our sample in advance and important consideration is to find initial subjects and informants. From initial subjects we can ask to identify further subjects for our research sample and the process continues to go on like a snow ball (Swisher, 2010, p.1). In Quota samplingpopulation is first divided into subgroups based on some criteria and then subjects are selected as a sample from each group. Quota sampling can be further divided in two sub groups known as proportional and non proportional quota sampling. In proportional quota sampling, sample of every sub group of population is represented by its proportional weight age of the population. Where as in non proportional quota sampling a limit of minimum numbers of sample subjects are set as a standard and are not nec essary to represent its proportion in the population. It only has to justify that the chosen sample is able enough to represent a small group in a population. Heterogeneity sampling is a procedure when we select sample for our research that will represent every group of thought or variables of the population, on the other hand Homogeneous sampling is a procedure of sampling when we want to study about some specific factors or variables and their effect on the outcome that represent the population (Trochin, William, 2006).   Criteria sampling is a procedure to select sample from the population that is based upon some specified and thoughtful criteria. Criteria set by the researchers fulfilled by any subject that represents the population should be included in the sample and any subject fail to meet the criteria is not included in sample that will represent the population (Swisher, 2010, p.4). To make a sample for our research we have selected criteria sampling method. As we are working on the CAMELS rating model and its replicability to the results of the external credit rating agencies published ratings, so for that we have to work upon banks annual financial reports. Our criteria for the banks to be included as a sample is the availability of their audited annual financial reports for the year ended 31st Dec 2010. Total population of number of banks operating in Pakistan is 38. Out of 38 banks 5 banks are Islamic commercial banks and operating on Sharia standards that is to great extent different from commercial banks system. CAMELS rating model is designed for conventional banks and its applicability on Islamic banks is argued by several authors but contradicted by others. So for this particular reason we did not include Islamic banks in our sample. There are 6 foreign banks operating with in Pakistan as subsidiaries of other multinational banks, and these banks prepar e their annual financial reports and submit it in their Head offices that further add up in their consolidate annul reports. So there were some complications in collection of their annual reports and its interpretation. Because of this reason we did not include these foreign banks as our sample for our thesis. Further on searching for the annual audited financial reports of the banks, we find out that till date 10 banks did not published or announced their annual financial reports. As these banks did not meet with the predefined criteria of availability of their annual financial reports, they are also excluded and are not part of our sample. At the end we are left behind with 17 banks and their audited annual financial reports, so our sample includes 17 commercial banks from Pakistan.