Thursday, December 26, 2019

Risk Areas Of The Royal Bank Of Canada Finance Essay - Free Essay Example

Sample details Pages: 4 Words: 1299 Downloads: 1 Date added: 2017/06/26 Category Finance Essay Type Argumentative essay Did you like this example? Royal Bank of Canada (RBC) is the largest bank in Canada in terms of the assets and market capitalization. It provides diversified financial services including Canadian and international banking for personal users and commercial users, wealth management services, insurance, corporate and investment banking, capital markets and transaction processing services. Risks are lack of certainty of outcome and they are measured by set of probabilities in order to estimate the loss. Don’t waste time! Our writers will create an original "Risk Areas Of The Royal Bank Of Canada Finance Essay" essay for you Create order A superior wealthy financial service company should be able to solve any expected risks and unexpected risks to minimize the loss for all shareholders. The main purpose of this report is to examine how a financial intermediary faces the potential risk management challenges. The purpose of this research paper is to identify three major risk areas that Royal Bank of Canada has identified in its annual report. We will target one of these risks and provide further information on the actions that the bank takes to manage that risk. The sources of information will be the banks website, annual report by the banks and the concept that we have learned from this course and other sources as well. Risk Management The management of Royal Bank discussed different type of risk management in its 2010 annual report. The analysis is provided to enable the existing or potential clients, shareholders to assess how RBC has managed the risks with proper rules and guidelines. Royal Bank has an unique system to manage the following risks: credit risk, market risk, liquidity risk, operational risk, strategic risk, regulatory and legal risk, reputation risk, insurance risk, environment risk and other risk factors. In this report, three major risk areas that we will be briefly discussed are credit risk, market risk and reputation risk. Credit risk will be analyzed in detailed. 1) Credit risk Credit risk is 2) Market risk Market risk is 3) Reputation risk Reputation is one of the successful factors in all businesses or organizations. A good reputation can build trust and confidence with the clients and the shareholders. Reputation risk is a possible risk that the organization or its representative Detailed Examination on Credit Risk Let us define credit risk in two ways. The first way is how Saunders defines it. The textbook defines credit risk as not getting paid in full, whereas RBC defines credit risk not getting paid at all. This term varies across organizations. RBC is exposed to credit risk in many ways since they offer a wide variety of services and products in Canada and around the world that rely on customers credit. In almost all of their products it is trust-based, and credit-based.  Some of these services and products include: asset-backed financing margin lending securities lending and project finance loans credit cards lines and letters of credit, residential and commercial mortgages. How the Bank Examine the Credit Risk The way RBC examines risk is by quantifying the credit risk, at both individual and portfolio levels, with an aim to minimize expected and unexpected losses. They use different tools to assess risk for wholesale and retail portfolios. The wholesale aspect consists of med to large size businesses, sovereign and bank exposures, while the retail portfolios consist of residential mortgages, lines of credit, credit cards, and small business loans. RBC makes an approach in two ways under the Basel II, Advanced Internal Rating Based and Standardized. The key parameters they use can be broken into 3 parts: Probability of Default (PD): measures the probability of default by a obligor within one-year of signing the contract for a loan. Exposure at default (EAD): the remaining amount owed to the bank at the time default. Loss given default (LGD): estimated percentage of the EAD that will not be recovered in the event of default. When it comes to rated exposures, mainly in the bank classes, RBC assigns the risk-weight based on OSFIs standardized mapping. When it comes to unrated exposures, mainly in the small business and retail classes, RBC will generally apply pre-determined risk weights brought on by OSFI along with the guidelines that theyve set, where they consider techniques to deal with exposure type, credit risk mitigation and counterparty. Wholesale credit Portfolio This system built to measure the credit risk in their wholesale lending activities. How this system works is each obligor is assigned a borrowers risk rating or BRR and every BRR is assigned PD. The BRR is essentially what differentiates one borrower from another in terms how likely they will have a hard time paying back their obligations if things do right in the economy. Retail credit Portfolio When it comes to the retail portfolios, credit scoring is way of assessing primary risk of an obligor in paying its debt. Credit scoring is achieved by acquiring new clien ts, or by managing existing clients to estimate future credit performance. During the acquisition scoring model, credit risk on a person is established based on past employment data, or other external credit bureaus to estimate future credit performance. So the best example would be a person just applying for a first time credit card. Usually students are in this category. Those who never had one usually begin with a low limit credit card until they develop a credit history. Behavioural scoring is a continuous monitoring process on a persons credit. The best example for this would be a person getting their very first credit card and been using it for some time. The bank that issued this persons card and took a risk by issuing this card, can now observe his or her performance and determine their credibility for future references. Every banks main purpose is to minimize default risk and to reduce the chances of giving somebody some loans or credit that they might not recover at all. After a person has been using credit cards for some time, it is easier to get approved the second time since they have established a credit history with another bank already. What determines a good credit is if the person has been paying their debt on time, making the minimum payments on time, whether they applied for a loan or not, thing of that nature. Applying for too many credit cards can also reduce someones credit rating and it takes a long time to recover from a bad credit. One important place that we never think of that dips out credit rating is at the dealerships. Even if you go in just to take a look at the car you want, the next thing is before you buy a car, the salesperson will ask for a drivers license to have your credit checked to see if youre eligible for a loan commitment to own the car. Sometime we get in the moment and dont think about it but does bring down your credit rating. One example of that is, I was interested in a Dodge so I kept going into diffe rent Dodge dealerships asking about that one car. Everywhere I went they asked to check my credit. At one point my credit went from Approved to Not Approved because I had my credit checked everywhere, sometimes in other provinces in case I wanted to have the car brought to BC. When I went to Ford dealership for another car, the finance manager printed out my credit history and asked me why I had so many Dodge listed. After I explained my situation, he advised me that was the reason my credit dropped but knew otherwise it would be more than enough to get a Ford, so I was approved! Credit Risk Mitigation Structuring of transaction: Includes the use of guarantees, security, seniority and covenants. The third-party guarantors that RBC deals with are primarily Sovereign-sponsored agencies. Collateral: RBC makes sure they receive some sort of collateral on larger loans, depending on the borrower, and what type of loan.

Wednesday, December 18, 2019

Erikson´s Theory of Development Story of My Life Essay

No matter who you are I believe that everyone will go through stages in their life that will get them to where they are on today. I am a person who has a very interesting story; this is the first time it will be told in full. We were asked to use Erik Erikson’s theory of development as a guideline to telling the story of our lives. At first I was very nervous; however, I soon realized that this would be a fun task. Erik Erikson has eight stages of Development (Zastrow and Kirst-Ashman). I will be walking you though my life using each one of his stages drawing out the map of my life. Within my life I have had some very interesting encounters. I have been through foster care, abuse, rape, molestation, starvation, adoption, depression, and†¦show more content†¦I would have to say this because I was very young and I didn’t know who I could trust. The older I got the more I struggled with this stage. I would say I struggled because you could never know who the right person was to trust. Another stage I would say I went through at this time is â€Å"Initiative Versus Guilt† (Zastrow and Kirst-Ashman). This is when a child learns to build relationships and or has a hard time doing so. Although I was very social, I was unable to know how to make friends. I would always feel guilty and would never know why I felt that way. At the age of six I was officially adopted by the Henry family. My name was changed, my history was left behind. Not only was my history left behind, however, so where my siblings. My parents were not able to adopt us all, causing all of to have to split up. This is one of the most traumatic moments in my life. I still remember being pried from my little brother’s arms, one of the most traumatic events in my life. I would have to say I was going through Identity versus role confusion at this time. Being adopted, for a long time, meant to me that I did not belong. I did not know who my brothers and sisters were. I also didn’t know my mother and father, which caused an emotional hit on me. This caused me to feel like I didn’t have an identity. I was confused and was unsure of how to deal with the stress that was being thrown at me. I would have to say theShow MoreRelatedThe Theorist I Choose For This Paper That I Believe I Relate1509 Words   |  7 Pageschoose for this paper that I believe I relate to the most is Erik Erikson. Erik Erikson is best known for his theory on identity, which was a theory that was broadened from Sigmund Freud while retaining its core work (Schultz, D. Schultz, S., 2013). Erik Erikson’s mother, who was Jewish, became pregnant but a man that was not her husband after her husband’s disappearance. She was sent to Germany, where she gave birth to Erik. Erik Erikson grew up believing his pediatrician was his biological fatherRead MoreErik Erikson s Theory Of Psychosocial Development Essay1177 Words   |  5 Pages Erik Erikson was born in Greman in 1902-1994, American psychoanalyst; known for psychosocial theory of emotional development of human beings. His theory looks at the impact of parents and society on personality development from childhood to adulthood. Erikson believes, each person has to pass through a series of eight stages over there entire life cycle. I will look at the first 3 stages that cover the childhood years. There are set of conflict at each stage, which allows individual to developRead MoreErik Erikson s Psychosocial Development Theory1518 Words   |  7 PagesABSTRACT This research paper will show a thorough review of Erik Erikson s Psychosocial Development Theory, specifically the transition from adolescence to adulthood. Psychosocial Development, according to Erik Erikson, is a continuity of crisis throughout our lifespan; these challenges will shape our personality and the way we perceive our surroundings. In addition to this, the different stages mentioned in this Theory complement each other and help us to develop the tools to achieve a sense ofRead MoreEssay about Lifespan Development and Eriksons Stages of Development1644 Words   |  7 PagesLifespan development is essential, as it is the changes that happen to us throughout a person’s lifespan. Our development occurs at ages stages where we develop from infancy till death. This essay will contain my life story to display the domains in 5 age stages in my lifespan development. The domains I will be exploring is in this essay is physical, emotional, cognitive, social, cultural and m oral domain. The influence of biological and environmental play a significant role in my development. DevelopmentRead MoreF. Scott Fitzgerald s The Great Gatsby1381 Words   |  6 Pagesin order to devise their statuses. The narrator, Nick Carraway, is disparate from others due to the place he grew up which is exemplified when he moves to New York from the Midwest. Tom Buchanan satisfies his desire for love by having women in his life as well as his wife Daisy. Jay Gatsby and Daisy Buchanan have been fond of each other since they met many years ago and their love for one another made Gatsby determined to create a new rich and extravagant lifestyle in order to completely win overRead MoreSpiritual Formation1595 Words   |  7 Pageswill try to illustrate my hypothesis of spiritual formation throughout the lifespan by using my interpretation of a collection of theories. The theories I will refer to include Piaget’s Cognitive Development Theory, Erikson’s Psychosocial Theory, and Kohlberg’s Development of Moral Reasoning Theory. In Piaget’s Theory of Cognitive Development, he develops a theory of cognitive development that occurs in stages from persons under two years of age through age 14. Piaget’s theory relates to the cognitiveRead MoreErik Erickson Was A Man Who Made A Huge Contribution In884 Words   |  4 Pageswhat he came up with to be called the developmental theory. â€Å"Each stage brings a psychosocial crisis involving transitions in important social relationships† (Weiten 350). According to Erickson, every person must go through a series of eight interrelated stages over their entire life cycle. â€Å"Each stage is presented as two opposing statements representing the challenges a person faces at a particular age† (Erickson’s Eight Stages of Development 1). Erickson was influenced greatly by psychologist SigmundRead MoreErikson s Third Stage Of Life Essay1360 Words   |  6 Pagessixth stage of life (Intimacy versus Isolation) I feel I am currently stuck in this crisis. In the past couple of years I have made some major life changes, got out of what could be considered an abusive relationship, decided what â€Å"I want to be when I grow up† (an Occupational Therapist, OT) so applied and was accepted into the graduate program, have moved out of my parents after several years of being stalked feeling brave enough my ex would no longer harm me, have decided who my friends reallyRead MoreChild’s Play is Serious Business Essay1611 Words   |  7 Pagesstudied by theorists and recognized as an important tool for adult life. Three theorists that studied children and spent their lives researching how children develop were Erik Erikson, Jean Piaget and Lev Vygotsky. These theorists agreed that from the time a child is two years old, play, communication, and social development set the foundations for their future. These psychologists each have agreeable theories and each had theories that have been challenged by modern day researchers. Play, cultureRead MoreStudents At Clearview Middle School1709 Words   |  7 Pagespositive behaviors displayed at home. Students have an insufficient amount of social skills and are unaware of self- awareness and self- control. I have chosen to complete action research on this topic due to my previous experiences as an educator at Clearview Middle School. A handful of my students were either emotionally disturbed or had experienced traumatic experiences outside of the classroom, typically in the communities they live in. For example, I had a student named â€Å"Brandon† who experienced

Tuesday, December 10, 2019

Business Ethics Ethics or Moral Philosophy

Question: Discuss about the Business Ethics for Ethics or Moral Philosophy. Answer: Introduction Ethics or moral philosophy is that branch of philosophy which is concerned with defending, systematizing and recommending concepts of right and wrong actions(Murithi, 2009). Organisations today are not only expected to meet the demand of their consumers but also ensure that their business processes and functions are carried out in an ethical manner safeguarding the well-being and rights of all stakeholders involved. Over the past few decades there has been an increase in number of unethical practices most of them involving big trusted brands. One such big ethical scandal that was widespread in the media and became the headlines of almost all news channels was the reports of Hersheys being involved in the use of child labor in its West African cocoa fields(Bloxham, 2012). This report aims at applying utilitarian ethical theories to analyse the Hersheys child labor ethical scandal The case: Hersheys child labor ethical scandal The Hershey Company commonly known as Hersheys is North Americas largest chocolate manufacturer(Hershey's, 2015). The company sells its products in over 60 countries across the globe and its products are recognised worldwide for their taste and quality. Hersheys is one of the leaders in chocolate industry and enjoys huge customer loyalty however lately the reports of it being involved in the use of child labor in its cocoa fields in West Africa brought huge negative publicity for the company(Baird, Guevara, Karpechenko, 2012). A lawsuit was filed against Hersheys by the law firm Grant and Eisenhofer accusing Hersheys was using suppliers that are involved in serious unethical acts of child labor and human trafficking. As per the lawsuit the company was sued by one of its largest shareholders accusing the companys Board of Directors for having supported the company in use of unlawful child labor and also integrating this illegal conducts in its business model(Bloxham, 2012). On one si de under the name of its Corporate Social Responsibilities (CSR) the company owns the Milton Hershey School for male Caucasian boys in Pennsylvania which is one of the world wealthiest school with a worth of $ 7.8 billion and a student population of 2000. On the other side Hersheys is involved in the unethical act of sourcing cocoa from West African suppliers who use child labor at their Cocoa fields. Inspite of tens of millions of dollars being spent by big chocolate makers in an effort to eradicate child labor in the chocolate industry, reports reveal that more than 2.1 million children in West Africa are still made to indulge in a highly dangerous and physically taxing process of harvesting cocoa (Fortune, 2016). Use of child labor not only has severe adverse affects on the overall health of these children but also keep them away from education which in turn hampering the economical growth and development of the region. Such an unethical conduct is not expected from one of the wo rlds largest and profitable food conglomerates. Hersheys must take required steps to eradicate child labor from its supply chain to gain back the trust of its consumers. Utilitarianism Utilitarianism is one of the normative ethical theories which place the locus of right and wrong conducts completely on the consequences of selecting on action over other actions (Marques, 2015). As per this moral theory the action that maximises the sum of individual utilities is considered the right action and the one that minimises the sun of individual utilities is considered the wrong action. Utilitarianism is the preferred ethical theory of economists as it has a rational appeal that is caused from its means-end approach and brings it in close proximity with economical thinking (Marques, 2015). Being a form of consequentialism, utilitarianism emphasizes on the fact that end result plays a very vital role in deciding which act is right and must be chosen. Thus as per the utility ethics theory the act that produces the greatest good for maximum number of people involved is considered the morally right course of action. Based on the utilitarian ethical theories an organisation sho uld ensure that all the activities they perform should be in interest of all their stakeholders and not just their shareholders(Trevino Brown, 2004). Apart from earning profit and maximising shareholders return on investment, organisations must ensure the well-being of their stakeholders which include their employees, customers, government, creditors, community, society and the environment in which they operate. An analysis of Hersheys ethical issue shows that the company was focusing only achieving its own financial goals and was not concerned about the well being of children who were used as child labor in its West African cocoa fields(Bloxham, 2012). The children as Hersheys employees still they were made to perform life dangerous and sometimes life threatening tasks while performing different tasks involved in cocoa production. Robertsonab, Morris, Walter (2007) presents a more economic-oriented definition for utilitarianism as a measure of the relative satisfaction or happiness of a group, usually considered in questions of the allocation of limited resources to a population. As per this definition of utilitarianism, the action that delivers maximum economic benefit is the morally right course of action. An analysis of the Hersheys ethical issue based on this definition of utilitarianism proves the companys act of using child labor at its cocoa field was morally correct from the point of its shareholders. Cocoa produced in West Africa is available to chocolate manufacturers at comparatively cheaper rates, specially the cocoa suppliers that use child labor offer much less price(Bloxham, 2012). Low cost of raw materials enable chocolate manufacturing such as Hersheys keep their manufacturing costs low which in turn enable them offer competitive prices to their customers and earn good profit. This unethical a ct is morally correct from this view as it delivers maximum economical benefits. However from the point of children who are forced to work in cocoa field this act is morally wrong as this is keep them away from achieving economical growth in the future. Act and Rule Utilitarianism Utilitarianism can be further classified into two different categories namely, act utilitarianism and rule utilitarianism. Both these utilitarianism theories emphasize on the fact that morality of actions should be evaluated on the basis of the outcomes they produce, however the two theories differ over how to do that(Lewina, 2014). Act utilitarianism while deciding the morally correct course of action, the action that produces greatest net utility should be selected. As per this theory it is important to apply the principle of utility of selecting the action based on its consequences should be applied on a case by case basis(Robertsonab, Morrisc, Walterde, 2007). Hersheys decision to support the use of illegal child labor at its cocoa field was morally correct when the interest of shareholders were considered as it enabled the company earn more profit and deliver high return on investment. However when the interest of its other shareholders such as its employees, the children invol ved, the society, environment and its customers were considered its act to use children as slaves at its cocoa fields was highly unethical. Rule utilitarianism contrary to act utilitarianism adopts a two part view that emphasizes on the significance of moral rules (Ho, 2015). As per the rule utilitarian theory, firstly an action that conforms to a justified moral rule is considered to be morally correct action, secondly a moral rule could be justified as a moral code if the outcome it produces is of greater utility when compared to already existing moral rules. Thus, an action is considered ethically right when it adheres with already existing moral rules and a moral rule can be used as a moral code if it produces greater utility. Analysis of Hersheys ethical issues based on rule utilitarian theory shows that the companys act of using child labor was not in conformity with justified moral rules and thus cannot be considered morally correct. Child labor is a serious crime in the court of law and is liable for allegations (Fortune, 2016). Also as this action is just in interest of companys shareholders and is doing more ha rm than good to other stakeholders it cannot be accepted as a moral code. The key difference between the two utilitarian theories is that the act utilitarian theory applies the principle of utilitarianism directly to evaluate the morality of actions while rule utilitarian uses principle of utilitarianism to evaluate the moral rules and then evaluate selected actions by verifying whether or not they adhere with the moral rules. Pros and Cons of Act Utilitarianism Act utilitarianism as compared to rule utilitarianism is a natural interpretation of utilitarian philosophies as it applies the principle of utility direct to the action to be evaluated(Fisher Lovell, 2006). Act utilitarianism yields maximum utility as every action that is performed delivers more utility than the other actions thus the sum total of utilities delivered by all actions will be the highest level of utility that can be achieved. Act utility ethics theory enforces the performer with the power of increasing the utility delivered by each action. Thus, as per the act utilitarianism Hersheys has complete control over the activities it performs and possesses the power to enhance the utility delivered by its actions to do good for all its stakeholders(Ferrell, Fraedrich, Ferrell, 2012). It was Hersheys Board of Directors who made the choice of supporting illegal use of child labor at their cocoa fields without being concerned for the health and well-being of these children and hiding the dark truth from their customers. Act utilitarianism is better than rule-based moralities which expect individuals to follow moral codes irrespectively of the situation(Homann, Koslowski, Luetge, 2007). For example rule-based moralities informs the performer not to kill anyone, however it does not inform the performer that killing is unethical, except when used for self defence. Act utilitarianism when applied to Hersheys ethical issues informs the company that earning profit is good, however it should not occur at the cost of small children who are being forced to work under dangerous and sometimes life threatening work environments on cocoa fields. Act utilitarianism works against the traditional belief that morality is subjective and depends greatly on individual desires; instead it works on the belief that moral questions can be answered in objective manner also showing clear the difference between right and wrong moral beliefs(Waluchow, 2003). Hersheys case as per t his belief of act utilitarianism is morally wrong as it against the interests of all its stakeholders and brought negative publicity for the whole company, reducing its stock prices, ROI and profitability. The company has to face lawsuits and was forced by media and court of law to immediately eradicate the use of child labor from its supply chain. However like any other ethical theories, act utilitarianism is criticised on points such as giving wrong answers to moral questions and permits certain actions which is considered wrong by all(Ho, 2015). For example if it is possible to save three people using organs of a healthy person than as per act utilitarianism this act of killing the healthy person is considered morally right. Act utilitarianism is criticised for being against the moral rules as these moral rules are basis for trust between people within the society. Moral rules help guiding individuals towards the right actions and prevent them from choosing unethical actions unde r all circumstances(Lewina, 2014). For example, if a man is informed to kill for self-defence most of the killers will start killing under name of self-defence. Act utilitarianism is also criticised for impartiality and equal consideration of interests as there are actions which is delivering high utility to ten people but is doing bad to two people still the act will be considered morally wrong. Conclusion An analysis of Hersheys ethical issue of being involved in use of child labor at its cocoa fields is considered unethical and morally wrong using both the act and rule utilitarianism theories. Act utilitarianism was considered more effective in analysing the case it is gives an opportunity to find objective answers for moral questions. It proves that hersheys act of using child labor did not deliver high utility for any of its stakeholders and brought high negative publicity for the company. Bibliography Baird, H., Guevara, N., Karpechenko, A. (2012). The Hershey Company and West African Cocoa Communities. Retrieved 2015, from https://danielsethics.mgt.unm.edu/pdf/Hershey%20Case.pdf Bloxham, E. (2012). Chocolate and child labor: A hurdle for Hershey. Retrieved 2015, from https://fortune.com/2012/11/16/chocolate-and-child-labor-a-hurdle-for-hershey/ Ferrell, O. C., Fraedrich, J., Ferrell. (2012). Business Ethics: Ethical Decision Making Cases. New York: Cengage Learning. Fisher, C., Lovell, A. (2006). Business Ethics and Values. Essex: Pearson Eductaion Limited. Fortune. (2016). Brian O'Keefe. Retrieved 2016, from vhttps://fortune.com/big-chocolate child-labor/ Hershey's. (2015). The Hershey Company. Retrieved 2015, from https://www.hersheys.com/our-story.aspx#/the-company Ho, D. (2015). Making Ethical Progress without Ethical Theories. AMA Journal of Ethics , 17 (4), 289-296. Homann, K., Koslowski, P., Luetge, C. (2007). Globalisation and Business Ethics. Burlington: Ashgate Publishing, Ltd. Lewina, D. (2014). Whats the use of ethical philosophy? The role of ethical theory in special educational needs. European Journal of Special Needs Education , 29 (4), 536-547. Marques, J. (2015). Universalism and Utilitarianism: An Evaluation of Two Popular Moral Theories in Business Decision Making. The Journal of Values-Based Leadership , 8 (3), 1-11. Murithi, T. (2009). The ethics of peacebuilding. Oxford: Edinburgh University Press. Robertsonab, M., Morrisc, K., Walterde, G. (2007). Overview of psychiatric ethics V: utilitarianism and the ethics of duty. Australasian Psychiatry , 15 (5), 402-410. Trevino, L. K., Brown, M. E. (2004). Managing to be ethical:Debunking five business ethics myths. Academy of Management Executive , 18 (2), 12. Waluchow, W. J. (2003). The Dimensions of Ethics: An Introduction to Ethical Theory. London: Broadview Press.

Tuesday, December 3, 2019

The Great Gatsby Essay Paper Example For Students

The Great Gatsby Essay Paper English Essay The Great Gatsby The main theme of the novel The Great Gatsby focuses on the American Dream and it is portrayed through the life of Jay Gatsby. Through Gatsbys life we see the withering of the American Dream, a tragedy that struck Jays near finished dream. The American Dream is what many have hoped of achieving, it has existed in the past and is in the present. The American Dream gives people a goal that they can work towards, it also gives them a purpose in life. The American Dream represents luxury and wealth it believes the goodness of the quality of life. For Jay Gatsby, he was so close to achieving the American Dream. He had the wealth and the class, all he needed was his long lost love, Daisy. Gatsby truly believed that he could once again be together with Daisy we see this when he says Cant repeat the past? he cried incredulously. Why of course you can (P. 116). However what made the story such a tragedy was that Gatsby came so close to wining Daisy however he w as killed by Mr. Wilson which he was just inches away from successfully completing the American Dream. In the past, only a small amount of the American Dream turned out to be successful, most have failed. Many people who did not achieve the American Dream ended up committing suicide or other means of giving up on life because they believe there was no other purpose in life. We will write a custom essay on The Great Gatsby Paper specifically for you for only $16.38 $13.9/page Order now Gatsby represent the American Dream in many ways, in order to accomplish his Dream he knew exactly what he desired, when Jay met Dan Cody at the shore of Lake Superior, Dan shown him a vision of success a vision of what wealth would offer, the excitement of being rich. Jay Gatsby has an ambitious nature, there for he would do anything just to live the American Dream. He started by building a past, he changed his name from James Gatz to Jay Gatsby in an attempt to construct a foundation for his dream. He then composed an image for Jay Gatsby, a well gentleman who was born in the west, educated at oxford and fought in World War I. Gatsby was then able to attain a great deal of money working with Meyer Wolfsheim. He then bought a huge mansion in the West Egg, however he would throw extravagant parties in hoping of attracting his long lost love Daisy, the one who he had an affair with before he went to the war. Nick describes Gatsbys feelings about Daisy: He hadnt once ceased looking at Daisy and I think that he revalued everything in his house according to the measure of the response it drew from her well-loved eyes. Sometimes, too, he stared around at his possessions in a dazed way as though in her actual presence none of it was any longer real. Once he even toppled down a flight of stairs (P.96 97)Daisy means everything to Gatsby, his American Dream is merged with his dream of being with Daisy. Without Daisy, Gatsbys American Dream is incomplete. A major factor that makes Gatsbys American Dream so tragic is that everything seemed to be so perfect in the beginning, for example we see that he almost had the perfect life. He had collections of nice cars to a nice grand white mansion to collections of imported shirts. Nick Describes Gatsbys parties:Every Friday five crates of oranges and lemons arrived from a fruiter in New York every Monday there same oranges and lemons left his back door in a pyramid of pulpless halves. (P.43)This shows the amount of wealth Gatsby had, he threw parties weekly and most of his guests havent even seen Gatsby. He didnt throw the parties to show of his wealth, he threw the parties in hope of attracting Daisy. Gatsby needed Daisy to complete his life, his dream to be with Daisy fused with his American Dream. However, it was tragic that he had to die at such a young age, epically when hes so close to achieving the American Dream. .uf7e0afd1e90bc4e5e293889a91038331 , .uf7e0afd1e90bc4e5e293889a91038331 .postImageUrl , .uf7e0afd1e90bc4e5e293889a91038331 .centered-text-area { min-height: 80px; position: relative; } .uf7e0afd1e90bc4e5e293889a91038331 , .uf7e0afd1e90bc4e5e293889a91038331:hover , .uf7e0afd1e90bc4e5e293889a91038331:visited , .uf7e0afd1e90bc4e5e293889a91038331:active { border:0!important; } .uf7e0afd1e90bc4e5e293889a91038331 .clearfix:after { content: ""; display: table; clear: both; } .uf7e0afd1e90bc4e5e293889a91038331 { 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; } .uf7e0afd1e90bc4e5e293889a91038331:active , .uf7e0afd1e90bc4e5e293889a91038331:hover { opacity: 1; transition: opacity 250ms; webkit-transition: opacity 250ms; background-color: #2C3E50; } .uf7e0afd1e90bc4e5e293889a91038331 .centered-text-area { width: 100%; position: relative ; } .uf7e0afd1e90bc4e5e293889a91038331 .ctaText { border-bottom: 0 solid #fff; color: #2980B9; font-size: 16px; font-weight: bold; margin: 0; padding: 0; text-decoration: underline; } .uf7e0afd1e90bc4e5e293889a91038331 .postTitle { color: #FFFFFF; font-size: 16px; font-weight: 600; margin: 0; padding: 0; width: 100%; } .uf7e0afd1e90bc4e5e293889a91038331 .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; } .uf7e0afd1e90bc4e5e293889a91038331:hover .ctaButton { background-color: #34495E!important; } .uf7e0afd1e90bc4e5e293889a91038331 .centered-text { display: table; height: 80px; padding-left : 18px; top: 0; } .uf7e0afd1e90bc4e5e293889a91038331 .uf7e0afd1e90bc4e5e293889a91038331-content { display: table-cell; margin: 0; padding: 0; padding-right: 108px; position: relative; vertical-align: middle; width: 100%; } .uf7e0afd1e90bc4e5e293889a91038331:after { content: ""; display: block; clear: both; } READ: Salem Witch Trials EssayGenerally speaking, the American Dream is mostly achieved by people of the higher