Why Corporate Governance Is Important In Financial Industry Finance Essay - Free Essay Example

Sample details Pages: 8 Words: 2361 Downloads: 2 Date added: 2017/06/26 Category Finance Essay Type Cause and effect essay Did you like this example? Corporate governance is most often viewed as both the structure and the relationships which determine corporate direction and performance. The board of directors is typically central to corporate governance. Its relationship to the other primary participants, typically shareholders and management, is critical. Don’t waste time! Our writers will create an original "Why Corporate Governance Is Important In Financial Industry Finance Essay" essay for you Create order Additional participants include employees, customers, suppliers, and creditors. The corporate governance framework also depends on the legal, regulatory, institutional and ethical environment of the community. Whereas the 20th century might be viewed as the age of management, the early 21st century is predicted to be more focused on governance. Both terms address control of corporations but governance has always required an examination of underlying purpose and legitimacy. (James McRitchie, 1999) Corporate governance is important for all organization not only today but has and will always be. However, it is specifically very important for the financial industry due to various reasons which will be discussed subsequently. The Organization for Economic Cooperation and Development (OECD) suggests sound corporate governance of financial institutions need to be in place in order for banking and financial supervision to operate effectively. Consequently, banking supervisors have a st rong interest in ensuring that there is effective corporate governance at every bank. Supervisory experience underscores the necessity of having appropriate levels of accountability and managerial competence within each bank. Essentially, the effective supervision of the international banking system requires sound governance structures within each bank, especially with respect to multifunctional banks that operate on a transnational basis. A sound governance system can contribute to a collaborative working relationship between bank supervisors and management. The following are some of the factors that deem it necessary to have very good corporate governance in financial institutions: Financial firms are opaque in nature and gives rise to significant information asymmetries. This makes it difficult to assess management performance. Current deregulated nature of financial institutions have made the nature of the activities of employees and managers moved from traditional acti vities toward decision-making activities. This has created greater potential for risk and results not expected or desired by shareholders and other stakeholders. Governance is an activity in which communal benefits resultant from private supervisory in the finance industry plays a dominant role. Limitations such as on takeovers, ownership concentration, prudent supervision, etc. could weaken product market discipline. This could further lead to weakening of the private sectors undertaking other governance functions. Financial firms hold equity stakes, grant credit and, hence, examine performance, which facilitates them to make a strong impact on governance of other institutions. Financial innovations potentiality weakens traditional governance processes. The role of banks is integral in any economy. They provide financing for commercial enterprises, access to payment systems and a host of a variety of retail financial services for the economy as a whole. Some banks even have a broader impact on the macro sector of the economy by facilitating the transmission of monetary policy by making credit and liquidity available in different market conditions. The integral role that banks play in the national economy is demonstrated by the almost universal practices of states in regulating the banking industry and providing, in many cases, a government safety net to compensate depositors when banks fail. Financial regulation is necessary because of the multiplier effect that banking activities have on the rest of the economy. The large number of stakeholders, whose economic well-being depends on the health of the banking sector, further depends on the appropriate regulatory practices and supervision. Indeed, in a healthy banking system, the supervisors and regulators themselves are stakeholders acting on behalf of society at large. The primary function is to develop substantive and other risk management procedures for financial institutions in which regulat ory risk measures correspond to overall economic and operational risks faced by a bank. Accordingly, it is imperative that financial regulators ensure that banking and other financial institutions have strong governance structures, specially, in light of the pervasive changes in the nature and structure of both the banking industry and the regulation which governs them. In this respect, the role of legal issues is crucial for determining ways to improve corporate governance for financial institutions, such as, the enforceability of contracts, including those with service providers, clarifying governance roles of supervisors and senior management, ensuring that corporations operate in an environment that is free from corruption and bribery and laws/regulations, etc. aligning the interests of managers, employees and shareholders, all help to promote a strong business and legal environments that support corporate governance and related supervisory activities. Further, corporate g overnance is very important to financial institutions in the present context is post-crises situations. The financial crisis can be to an important extent attributed to failures and weaknesses in corporate governance arrangements. When they were put to a test, corporate governance routines did not serve their purpose to safeguard against excessive risk taking in a number of financial companies. A number of weaknesses have been apparent. The risk management systems have failed in many cases due to corporate governance procedures rather than the inadequacy of computer models alone: information about exposures in a number of cases did not reach the board and even senior levels of management, while risk management was often activity rather than enterprise-based. These are board responsibilities. In other cases, boards had approved strategy but then did not establish suitable metrics to monitor its implementation. Company disclosures about foreseeable risk factors and about the sys tems in place for monitoring and managing risk have also left a lot to be desired even though this is a key element of the Principles. Accounting standards and regulatory requirements have also proved insufficient in some areas leading the relevant standard setters to undertake a review. Last but not least, remuneration systems have in a number of cases not been closely related to the strategy and risk appetite of the company and its longer term interests. Question 02 Why do Islamic banks need to give special care to corporate governance and what advantages does it provide to them? Answer 02 Very little is written on governance structures in Islamic banking, despite the rapid growth of Islamic banks since the mid 1970s and their increasing presence on world financial markets. There are now over 180 financial institutions world-wide which adhere to Islamic banking and financing principles. These banks operate in 45 countries encompassing most of the Muslim world, along with Europe, North America and various offshore locations. Islamic financing increasingly is a market segment of interest of Western banks and the latest addition to the list of Islamic banks in October 1996 in the City Islamic Investment Bank, Bahrain a wholly owned subsidiary of Citicorp. Islamic banking represents a radical departure from conventional banking and from the viewpoint of corporate governance, it embodies a number of interesting features since equity participation, risk and profit-and-loss sharing arrangements from the basis of Islamic financing. Due to the bank dealing in Riba, an Isla mic bank cannot charge any fixed return in advance, but rather participates in the yield resulting from the use of funds. The depositors also share in the profits according to predetermined ratio, and are rewarded with profit returns for assuming risk. Unlike a conventional bank which is basically a borrower and lender of funds, an Islamic bank is essentially a partner with its depositors, on the one side, and also a partner with entrepreneurs, on the other side, when employing depositors funds in productive direct investment. These financial arrangements imply quite different stockholder relationships, and by corollary governance structures, from the conventional model since depositors have a direct financial stake in the banks investment and equity participations. In addition, the Islamic bank is subject to an additional layer of governance since the suitability of its investment and financing must be in strict conformity with Shariah and expectations of the Muslim community at large. Islamic financial institutions display key distinguishing features requiring special care when it comes to the corporate governance mechanisms. They are as follows: Stakeholders include large number of depositors and their deposits are not guaranteed. Islamic banks operate on the model of universal banking. This is very close to the deregulated banking system. Financial activities are spread over a large spectrum from the usual customary traditional finance. Islamic financial institutions holding equity would enable them to sit on various companies Board of Directors. Thereby they could influence corporate governance mechanisms of the latter. Corporate governance and ethical standards provides many an advantage to Islamic banks. If an Islamic financial institution practices very good corporate governance, it helps them to build a good and strong brand image. Through this good and strong brand image they are able to attract a higher customer base leading to hig her and greater customer loyalty. Once they have captured the customers loyalty, there is greater commitment towards the employees. Once the employees are given greater commitment they become passionate and drive with a lot of creativity. Having large amounts of creativity in a very competitive and volatile environment can drive an organization to have immense competitive advantage. Question 03 Why do banks need to be regulated and supervised? What are the key tasks facing regulators for creating a level playing field for Islamic banks within a countrys overall regulatory framework that includes the operations of conventional banks? Answer 03 A logical first reason is that a strong and adaptable banking system helps the monetary authorities to carry out monetary policy, that is, to implement decisions about money supply and interest rates. In this sense, regulation is a public good, because everyone benefits from an effective monetary policy. A second more practical reason relates to the unique nature of the business of a bank. The business of a bank can for arguments sake be reduced to, on the one hand, the taking of deposits from the public and, on the other hand, the lending of those same funds to others at a profit. The liabilities of banks, namely the deposits held on behalf of clients, are generally short term and certain in amount the bank must repay the full amount from its resources. The assets of a bank, namely the loans made, are generally longer term in nature, but actually uncertain in value the bank can never be sure that the debtor will repay the loan over the specified period. The nature of a banks business is therefore inherently highly risky, and poor decisions can easily lead to the demise of a bank and the loss of depositors funds. When this happens, often the confidence in the banking system is harmed, and, in order to avoid this, public funds are sometimes used to save an ailing bank. Either way, the cost of a bank failure to society as a whole is often higher than the private cost (that is, shareholder losses), which is a compelling reason for supervising banks to ensure that they are always prudently managed by competent, experienced and ethical individuals. Another reason why banks are usually regulated is the asymmetry of information that is, the unequal availability of information to all interested parties. Depositors do not have sufficient information about the true risks that a particular bank faces, and whether the risk they take in placing their money with the bank is commensurate with the interest to be earned on the deposit. A final reason for the regulati on and supervision of banks is to protect depositors against unscrupulous organizations that misrepresent themselves as banks and unlawfully collect deposits before absconding. All developed countries, and less developed countries, have a banking supervisory authority. Although the principles are largely the same, supervisory authorities may differ regarding their degree of autonomy, relationships with other financial regulators, and supervisory approaches or methods employed. Central Banks and Regulators could play a crucial role in the development of a framework for Shariah compliant monetary policy instruments to operate within a level-playing field. Supervisors are faced with a dual challenge. One hand, they promote financial diversification and consolidation to achieve market development and on the other side they have to position themselves to recognize new dimensions and new types of risks and encourage appropriate risk mitigation plans. Regulators need to practic e flexibility and work with Islamic banks such as to become well acquainted with needs of the industry and subsequently develop successful and acceptable regulatory frameworks. Further, regulatory authorities and market participants should be very well-versed with the nature and implications of the rules adopted in jurisdictions where there are heavy constraints on Islamic finance operations. This would facilitate greater market discipline and no undue burden on the Islamic financial institutions. Therefore, regulatory and supervisory authorities operating in dual banking systems, i.e. conventional as well as Islamic, should be mindful of setting up regulatory frameworks, since they should be pragmatic and flexible in internationally accepted prudential and supervisory requirements. According to Shariah principles, Islamic banks cannot guarantee repayment of full amount of deposits, in Western countries requiring that deposits have to be returned in full. In Muslim countries s eparate regulations have been developed to allow banks to share the risk of loss on investments with their clients. The final solution was to structure a Mudharabah agreement whereby savings and deposit/investment accounts in such a manner that FSA was satisfied that the risk of loss of amount deposited by the depositors was minimal. Key features included a bank setting aside reserves earned from investment in special reserve accounts before the distributing of profits to the depositors. This reserve was further to be used to cover any losses that arose from investments. Another feature was allowing depositors decide if they wanted capital losses to be made good. A depositor complying with Shariah principles would not require such losses to be made good. The Islamic Financial Services Board (IFSB) was established with the aim to promote the development of a prudent and transparent Islamic financial services industry and provides guidance on the effective supervision and regulatio n of institutions offering Islamic financial products. The IFSB has produced international standards on capital adequacy and risk management for Islamic Financial Institutions, and has made progress in developing standards on corporate governance. These international standards are intended to assist regulators and supervisors in pursuing soundness, stability, and integrity in the world of Islamic finance.

My Views On Education And Education - 1154 Words

Compulsory Education. In this paper, I am going to examine and compare my views on education to the great philosophers Aristotle, Socrates and Plato. Education should not be something forced on people from a very young age. We are educating our children to be master test takers who conform to the norm and not to think outside the box. My position is supported by Socrates in Plato s The Republic and Aristotle in his Nicomachean Ethics, Book II. Because students waste too much time on testing, education should not be compulsory. First of all school should be voluntary. Socrates states that bodily exercise, when compulsory, does no harm to the body; but knowledge which is acquired under compulsion obtains no hold on the mind.† (536e) Socrates believed that a compulsory education does not work especially in early education. Education must appear to be voluntary at first Socrates says, Don t use force in training the children in the studies, but rather play. In that way, you can better discern what each is naturally directed towards (537a) I strongly agree that education is being forced upon the youth of today. Education should not be something our youth fear. Children should not get up in the morning and dread going to school. The schools should be educating our children; they should be empowering our youth to be independent thinkers and teaching our children how to be compassionate functioning members of society. In today s society, standardized testing is seemingly theShow MoreRelatedMy Views On Educat ion And Education1304 Words   |  6 PagesCompulsory Education In this paper, I am going to examine and compare my views on education to the great philosophers Aristotle, Socrates and Plato. Education should not be something forced on people from a very young age. We are educating our children to be master test takers who conform to the norm and not to think outside the box. 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I have never been an individual who loves to read. I have read many books, but mainly for school purposes. My values and attributes come from being accepted into the Skip a Book Program in sixth grade, my love for soccer and how it devoured most of my time from the ages of three to sixteen, and my own personal beliefs I have acquired through studying The Bible. To begin, the values I have about education all began from beingRead More My Views On Education Philosophy Essay examples1978 Words   |  8 PagesMy Views On Education Philosophy When I first began college I wanted to be an accountant. I had taken accounting class in high school and really enjoyed it. Accounting is finite and rigid in terms of how it is structured. The rules did not change in regards to how you went about learning and applying it. Once you mastered the principles of accounting you would be able to do your assignments in class or your work in the real world proficiently. As I began taking the core accountingRead MoreReflection About Education In China1077 Words   |  5 PagesWe get education everyday. It can not seen or touched. But education obviously has a huge impact on our individual, society, nation, and all aspects of our lives. I am a student from China. I think the understanding of education is very different under different cultures. In this essay, I will combine my educational experience in China and the learning experience in module 1 to objectively analyze education from different perspectives. And Ill explain what Ive changed in understanding and thinking

Influence on Principal Recruitment and Selection †MyAssignmenthelp.co

Question: Discuss about the Influence on Principal Recruitment and Selection. Answer: Introduction The recruitment procedure of a company includes various steps such as attracting talented candidates, analysing their qualification, selecting them for the right position and retaining them for a long time. These steps get affected by different external and internal factors which create problems for human resource department, such as legal requirements, inflation, diversity issues, change in technology and organisational image. In modern times, it is necessary for organisations to recruit talented employees because it influences the development of such company. This report will analyse different factors which creates recruitment challenges for Coles Supermarkets. Further, different human resource management theories will be provided in the report for addressing the recruitment issues. Coles is an Australia supermarket corporation which operates in retail and consumer services industry, and the company is owned by Wesfarmers Limited. As per Kumar (2008), the organisation has more than 800 supermarkets throughout Australia, and they employ more than 100 thousand employees. The net revenue of the corporation was more than AU$33 billion in 2016 financial year. The company received around 3000 to 5000 offline job applications in a week, and the recruitment targets of the enterprise are more than sixty thousand candidates annually. The company also uses online platforms to hire new employees (Wright Lund 2003). The hiring procedure of Coles Supermarket gets influenced due to various internal and external elements. Following are few challenges faced by human resource department of Coles. There are different economic factors in Australia which affect the recruitment procedure of a company. For example, during the stage of inflation, the loving cost for the employee's increases in the country. As per Price, Bailey Pyman (2014), in inflation, corporations are requiring to provide high salary packages and benefits to their employees. Most of the people did not prefer to work for supermarkets in such situations because of the low pay grade. The human resource department faces difficulties in attracting the talented and service-oriented candidates to the organisation. Demand and Supply of Workers Coles has more than 100 thousand employees in different departments, and their annual target for recruitment is around 60,000 employees. According to Whitaker (2003), these numbers show the high demand for labour in Coles Supermarket. The overall rate of unemployment in Australia has hit record high rates in by raiding 5.9 percent in February of 2017. In supermarkets of the retail industry, the demand for workers remains considerably high, but the supply is low. One of the reasons for the shortage of employees is related to low population in Australia. The labour pool of Australia is also shrinking as the population is becoming old. Most of the aged people did not prefer to work in a supermarket because of it is a fast pace job, and the employees are required to have basic technical knowledge (Chew Chen 2008). The diversity and cultural difference in the industry affect the recruitment process, for example, is an American corporation outsourced its business activates to China than human resource department of China would be different from the organically one to ensure that all the employees with various culture can easily work together. It is necessary for corporations to promote diversity in between employees but many workers did not prefer to work with people of different background. In Australia, many companies discriminate against foreigners or aboriginal peoples, which affect the decision taken by human resource department in recruitment procedure (Shen, Chanda, Dnetto Monga 2009). While recruiting new employees and retaining them in the organisations, the human resource management has to comply with the regulations provided by government such as Fair Work Act. As per Barrett Mayson (2007), these rules ensure that large corporations did not take unfair advantage of the workers and protect them from the unsafe working environment. The regulations force corporations to provide minimum wages and facilities to the employees while retaining them in the organisations. Any changes or alteration in the policies of government can significantly influence the recruitment procedure of Coles. Technological Changes Most of the supermarkets are implementing modern technology in their stores for improving their customers services. Coles online is a service provided by the company which allows users to buy products online, and they get delivery at their house. As per Chavan (2009), while recruiting new employees, the candidates are required to have basic knowledge of technology and computers. Most people are not able to apply for the job because they do not possess technical expertise; most of them include aged peoples. Coles has various competitors in the market such as Woolworths, Aldi and Kogen Pantry. As per Smith (2006), these organisations attract the talented employees of other corporations by paying better salary and incentive packages. For retaining talented employees in the organisation, Coles has to pay higher wages and benefits to their employees. New employees recruitment also became difficult due to strong competition in between companies. Most of the people in Australia did not prefer to work in a retail industry which makes it difficult for HRM to attract talented employees. Retail or supermarkets are not the first choices for people which mean most of the workforce in supermarkets consists of unskilled or unmotivated employees. In a recent controversy, Coles found guilty of underpaying their employees which decrease the reputation of the organisation and due to such controversy, most people did not prefer to work for Coles (Schneiders, Millar Toscano 2017). Coles can implement an On the job training facility for their workers to improve their productivity and provide them knowledge regarding modern technology. This strategy can also benefit the company in recruiting aged peoples. Coles can employ aged people and provide them training regarding advanced technology which can fulfil the demand of labour in the corporation (Round 2006). Professional HR Department By employing profession experts in human resource department, Coles can determine the future changes in the retail industry and government policies. The expert opinions of HR department can assist the corporation in preparing better recruitment strategies which properly employment government regulations regarding employees welfare. The policies formulated by experts can be valuable for the hiring process of Coles (Kurnia Johnston 2003). Coles can implement strict guidelines for promoting diversity in their company; the HRM should provide equal opportunity to employees with different cultural backgrounds. The top-level management should ensure that a motive work environment is established for foreign workers. The company should also update their incentive structure into performance-based which can improve the productivity of employees (Hannon DNetto 2007). Conclusion In conclusion, the HRM of Coles faces various difficulties in recruitment procedure including diversity issues, government regulations, low employee rates, negative image of the company and strong competition. These problems create different problems for HRM which recruiting new employees. The corporation can adopt different HRM policies to reduce their problems in the recruitment process. For example, providing training to employees, establishing better incentive schemes, and hiring experts for future planning. These strategies can benefit the growth of Coles in Australia retail industry. References Barrett, R., Mayson, S. (2007). Human resource management in growing small firms.Journal of Small Business and Enterprise Development,14(2), 307-320. Chavan, M. (2009). The balanced scorecard: a new challenge.Journal of management development,28(5), 393-406. Chew, J., Chan, C. C. (2008). Human resource practices, organizational commitment and intention to stay.International journal of manpower,29(6), 503-522. Hannon, J., D'Netto, B. (2007). Cultural diversity online: student engagement with learning technologies.International journal of educational management,21(5), 418-432. Kumar, S. (2008). A study of the supermarket industry and its growing logistics capabilities.International Journal of Retail Distribution Management,36(3), 192-211. Kurnia, S., Johnston, R. B. (2003). Adoption of efficient consumer response: key issues and challenges in Australia.Supply Chain Management: An International Journal,8(3), 251-262. Price, R., Bailey, J., Pyman, A. (2014). Varieties of collaboration: the case of an Australian retail union.The International Journal of Human Resource Management,25(6), 748-761. Round, D. K. (2006). The power of two: squaring off with Australia's large supermarket chains.Australian Journal of Agricultural and Resource Economics,50(1), 51-64. Schneiders, B., Millar, R. Toscano, N. (2017). Coles admits much of its workforce underpaid after SDA deals. SMH. Retrieved from https://www.smh.com.au/business/retail/coles-admits-much-of-its-workforce-underpaid-after-sda-deals-20170608-gwnfl4.html Shen, J., Chanda, A., D'netto, B., Monga, M. (2009). Managing diversity through human resource management: An international perspective and conceptual framework.The International Journal of Human Resource Management,20(2), 235-251. Smith, R. L. (2006). The Australian grocery industry: a competition perspective.Australian Journal of Agricultural and Resource Economics,50(1), 33-50. Whitaker, K. S. (2003). Principal role changes and influence on principal recruitment and selection: An international perspective.Journal of educational administration,41(1), 37-54. Wright, C., Lund, J. (2003). Supply chain rationalization: Retailer dominance and labour flexibility in the Australian food and grocery industry.Work, Employment and Society,17(1), 137-157.

The layers that can be constructed from the film Matrix Essay Example For Students

The layers that can be constructed from the film Matrix Essay The Matrix, released in April 1999 directed by the Wachowski Brothers, was a great success. The magnificent effort in making the film was rewarded as it won four awards for the British Academy Awards. These were for best sound, best film editing, best sound effects editing and best visual effects. The Matrix, was also nominated for three awards. These were for best cinematography, best production design and best editing. The opening sequence of The Matrix immediately introduces us to a computer with a bright green flashing cursor, the camera remains still as if to be a computer screen, and then lots of numbers, letters and symbols scroll down the screen, which could be computer language this shows the audience that computers are part of the narrative, and then a female and male begin to speak. We are given the impression that they are speaking via phone by a ringing sound before the conversation starts. We will write a custom essay on The layers that can be constructed from the film Matrix specifically for you for only $16.38 $13.9/page Order now Whilst the conversation is on the topic of how the female is watching someone the female then gets the impression that her conversation is being tapped as she says are you sure this line is clean? to the male, the camera begins to zoom in on the symbols to an extreme close up. The camera then goes inside the symbol (0, which could resemble later on as neo, (The one) and shows all the dimensions of this one symbol. Through the symbol there appears to be a tunnel with a light at the end, this has reference to Alice in Wonderland this reference comes up through-out the film. Thomas A Anderson his alias Neo, is played by Keanu Reeves, a computer hacker who has discovered the matrix which is a computer simulation. Neo is belived to be The one by Morpheus who is played by Laurence Fishburne, he has been in search for The chosen one all his life, and for it to destroy the matrix. The film is very clever and can be unfolded in many ways, one is in the names. Neo = The one is a prefix, derived from Greek that connotes a new or recent form of something, or a revival in a modern form. Also Morpheus = The Roman god of sleep and dreams. These meanings show relevant reference through out the film. The teacher in the film is Morpheus, whose function is to provide guidance for Neo and show him `The Matrix. There is also the `helper who has the job to aid the hero in some way, which is what Morpheus and Trinity do in the film. They guide Neo and help him against the agents. The donor will provide super natural or magical help through a gift. In `The Matrix, the oracle provides help by telling Neo the future and gives him advice. The Alice in Wonderland reference crops up in many different places during the film and plays a big part in telling the story its starts in the beginning, by coming up on Neos computer screen, Follow the white rabbit it now starts to bring in intertexts when a few second later a group of people knock on the door asking him if he wants to go to a nightclub, he notices a tattoo on one of the groups shoulder, its a white rabbit which links to follow the white rabbit that appeared on Neos computer where he follows the group which leads him to a night club, where he meets Trinity (a character from the real world). When Neos friends are at the door Neo exchanges some sort of computer device and his friends use words like Youre my own personal Jesus! In a Christian intertext Jesus is the only son who is perfect seen as The Ore this can be related to the Neo as the `one` the intertexts carry on. Neo goes to the club and straight away Trinity starts speaking to Neo and she tells him that he is in danger because he wants to know about the matrix. Trinity means Father Son and the Holy Spirit this follows the Christianity link. .u81c373130c426f13f34ede48a0f85414 , .u81c373130c426f13f34ede48a0f85414 .postImageUrl , .u81c373130c426f13f34ede48a0f85414 .centered-text-area { min-height: 80px; position: relative; } .u81c373130c426f13f34ede48a0f85414 , .u81c373130c426f13f34ede48a0f85414:hover , .u81c373130c426f13f34ede48a0f85414:visited , .u81c373130c426f13f34ede48a0f85414:active { border:0!important; } .u81c373130c426f13f34ede48a0f85414 .clearfix:after { content: ""; display: table; clear: both; } .u81c373130c426f13f34ede48a0f85414 { display: block; transition: background-color 250ms; webkit-transition: background-color 250ms; width: 100%; opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #95A5A6; } .u81c373130c426f13f34ede48a0f85414:active , .u81c373130c426f13f34ede48a0f85414:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .u81c373130c426f13f34ede48a0f85414 .centered-text-area { width: 100%; position: relative ; } .u81c373130c426f13f34ede48a0f85414 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .u81c373130c426f13f34ede48a0f85414 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .u81c373130c426f13f34ede48a0f85414 .ctaButton { background-color: #7F8C8D!important; color: #2980B9; border: none; border-radius: 3px; box-shadow: none; font-size: 14px; font-weight: bold; line-height: 26px; moz-border-radius: 3px; text-align: center; text-decoration: none; text-shadow: none; width: 80px; min-height: 80px; background: url(https://artscolumbia.org/wp-content/plugins/intelly-related-posts/assets/images/simple-arrow.png)no-repeat; position: absolute; right: 0; top: 0; } .u81c373130c426f13f34ede48a0f85414:hover .ctaButton { background-color: #34495E!important; } .u81c373130c426f13f34ede48a0f85414 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .u81c373130c426f13f34ede48a0f85414 .u81c373130c426f13f34ede48a0f85414-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .u81c373130c426f13f34ede48a0f85414:after { content: ""; display: block; clear: both; } READ: Media theorist and Film Studies EssayOne of the reasons that the film would be difficult to understand is that it has an alternative religious meaning to it and the life of Neo is parallel to that of Jesus. There are various elements of the film, which tells the viewer that it has an alternative meaning. Firstly, this can be seen as the film was released the weekend of Easter 1999, which evidently is the resurrection of Jesus. The next major element of the film, which proves this, is Neos `virgin birth and Christs virgin birth. The scene in the film shows that Neo is reborn. When Morpheus sends Neo to see the Oracle (The oracle of Delphi). Neo Is amazed at how one of the Oracles sons can bend things. The boy says, It is not the spoon that bends, its yourself. The Oracle is a future telling Greek god from Greek mythology who when neo went to her would tell him his future. The Oracle plays an important part in the films as she tells Neo he is not that special and that he is not the one and that he would at some stage in his life have to choose between saving his life or saving Morpheuss life. However as we discover later on in the film, the Oracle told Neo what he needed to hear and that he actually is the One. To this extent Neo tried to save Morpheus from the agents and succeeded, but also he believed again that he is the one. Hes beginning to believe hes the one quotes Morpheus. In this regard to neo fought agent smith in an important fight scene where cowboy/western theme was used with a scrap of paper acting as tumbleweed across the bottom of the screen. At the end of that fight Neo escaped and was running for a telephone. (Telephones are used as the transportation from the matrix back to safety in the real world. A Neo approached the ringing telephone he was shot and killed by agent Smith. As an audience this was shocking to see because we as an audience believed that Neo was the One and that the One could not and should not die. However, just like Jesus Christ Neo died and came back (reborn) as a stronger person to eventually believe he is the one. He blocked bullets from the shooting agents guns and finally overcomes smith. This maybe an intertext taken from the many typical villain hero cartoons. This is in the prophesising in the betrayal and coming back of Jesus (Neo). This is being interpreted in to the matrix by being based around Morpheus and Neo, John the Baptist, Jesus and the story of the Son of God. The end shot of the film is where Neo shoots up into the sky from a phone box with his fist above his head. This again is another intertext taken from Superman. The matrix brings a blend of genres that brings all kinds of different layers of interpretation that ranges from Christian culture to childrens game console (mortal combat). It all gels together to make a deep and excellent film. When watching it raises questions- is life real? Do we actually get out at the end of the game or is that it Game over?