Cheque Truncation System

Lawyersclubindia Article : Cheque truncation in the Indian Scenario Page 1 of 3 Cheque truncation in the Indian Scenario During the last two decades or so the attitude and lifestyle of the consumers of banking service have been influenced by the advancement in technology. In tune with technological changes the banksaâ‚ ¬Ã¢â€ž ¢ delivery system has to undergo tremendous transformation. The financial reforms process has enabled many competitors to enter the financial services market with a higher degree of efficiency and customer friendly behaviour. The public sector banks although reacted promptly to the new challenges, have not kept pace with the new entrants in the arena because of their inherent limitations. Under the impact of technology, the banks have been trying to innovate newer products and services to become more competitive in the ever demanding customer driven market. The technology has made it possible for the banks to come to terms with the demands of customers. The system of cheque truncation is prevalent in several foreign countries. Denmark and Belgium are the pioneers in the truncation system. They adopted complete cheque truncation system more than two decades ago. Sweden is the typical example for having achieved complete truncation where all the cheques can be presented and encashed at any branch; irrespective of the bank on which they are drawn. The process of cheque truncation is not only quick but also meets the requirements of future electronic transactions. In India the collection and payment of cheques is governed by the provisions of the Negotiable Instruments Act, 1881 which requires that the instruments must be in writing and have to be physically presented for payment in due course (before the amendment in the Negotiable Instruments Act). In view of this requirement the time taken for the processing of cheques, etc. was long particularly for the outstation cheques. In a country like India, the time taken for collection of outstation cheques is rather tiring for the customers. With the advent of technology, the Government of India and Reserve Bank of India took initiative to improve the customer service. The working group constituted in 1982 to consider the feasibility of introduction of MICR/OCR technology for cheque processing recommended that India should join SWIFT (Society for Worldwide Interbank Financial Telecommunication) Network for the transmission and reception of international financial messages as well as instil electronic forms of monetary transaction in the Indian economic transactions. The term aâ‚ ¬? hequeaâ‚ ¬ has been defined in Section 6 of the Negotiable Instruments Act as aâ‚ ¬? bill of exchange drawn on a specified banker and not expressed to be payable otherwise than on demandaâ‚ ¬ . As per definition it is essential that cheque should be presented for payment. But in truncation, the physical cheque is not presented but only its image shall be transmitted to the paying branch. ** In common parlance the word aâ‚ ¬? tru ncatedaâ‚ ¬ means deformed, disfigured, mutilated, etc. As per the Negotiable Instruments Act, the truncated cheque means a cheque which is truncated during the course of a clearing cycle. The process of truncation requires the banker to convert the cheque data into electronic form for the purpose of safe keeping or to return the cheques at the request of the banker or to provide information on cheques as and when requested. The cheque in the electronic form means a cheque which contains the exact mirror image of a paper cheque and is generated, written and signed in a secure system ensuring minimum safety standards with the use of digital signatures (with or without biometric signature) and http://www. lawyersclubindia. com/articles/print_this_page. asp? rticle_id=250 7/24/2011 Lawyersclubindia Article : Cheque truncation in the Indian Scenario Page 2 of 3 asymmetric crypto system. Features of truncated cheque system With the advent of technology and cyber era, security of the system has acquired prime importance. No doubt, the financial institutions have started providing fast services than ever before. But the technology has brought in its trail security problem als o. Under the cheque truncation system, therefore, the image of the cheque is captured at the point of deposit where it is sealed and encrypted before its transmission. This renders it tamper proof. This is done strictly as per international standards. The transmission between the presenting, paying and payee bank is authenticated by a certificate authority as part of the public key infrastructure. The process of image certification at the banks is certified by an independent auditor to ensure that it conforms to the requirements of the laws of evidence of that country. Under the cheque truncation system all cheques are transmitted electronically. The original cheques are retained by the collecting banker. Indian scenario Truncation of cheques can be done by the clearing house or the bank which collects the truncated version of the cheque. As per Section 81 of the Negotiable Instruments Act, the banker who receives the payment, is also supposed to retain the copy of the cheque even after payment has been done. Section 89 of the Negotiable Instruments Act says that any distinction between the original cheque and the truncated image should be construed as material alteration. In such cases it is obligatory on the part of the clearing house or the bank to ensure the correctness of the truncated image while transmitting the image. An explanation has been added to Section 131 of the Negotiable Instruments Act vide the Negotiable Instruments (Amendment and Miscellaneous Provisions) Act, 2002. It says that it shall be the duty of the banker who receives payment based on an electronic image of a truncated cheque to ensure that there is no fraud, forgery or tampering apparent on the face of the instrument. It would be seen that after the amendment the responsibility of the collecting bank has increased manifold. Earlier it was the position that if he collects any instrument in good faith and without negligence he was not liable for any fraud, etc. But after the amendment it is obligatory upon the collecting bank to verify the genuineness of the cheque with greater degree i. e. due diligence. Hence the cheque truncation system has burdened the collecting banker with a greater degree of responsibility. As per sub section (2) of Section 64 of the Negotiable Instruments Act, where an electronic image of a truncated cheque is presented for payment, the drawee bank is entitled to demand any further information regarding the truncated cheque from the bank holding the truncated cheque in case of any reasonable suspicion. Two new sub-sections have been added to Section 89. As per these sub sections any difference in apparent tenor of electronic image and the truncated cheque shall be a material alteration and it shall be the duty of the bank or the clearing ouse, as the case may be, to ensure the exactness of the apparent tenor of electronic image of the truncated cheque while truncating and transmitting the image. In spite of the advantages, the truncation system has its own drawbacks. The truncated cheques are vulnerable to fraudsters who can hack into this system and change the contents of the cheques. So the security of the system must be ensured. RBI has taken upon itself setting up of a safe, secure and http://www. lawyersclubindia. com/articles/print_this_page. asp? article_id=250 7/24/2011 Lawyersclubindia Article : Cheque truncation in the Indian Scenario Page 3 of 3 efficient communication network for the exclusive use of the banking sector known as INFINET (Indian Financial Network). This network is already being used by a large number of banks for transfer of funds. INFINET uses the latest technology and security called PKI (Public Key Infrastructure) which is within the legal requirements of the Information Technology Act, 2000. Source : – http://www. ebc-india. com/practicallawyer/index. php? option=com_content&task=view&id=8047&Itemid=54 http://www. lawyersclubindia. com/articles/print_this_page. asp? article_id=250 7/24/2011

Australian Aboriginal Culture Essay

Aboriginals lived in Australia for about 40,000 years before European settlement began in 1788. During that time they developed an amazing culture all based on survival. They found all of their food from the land. They developed an amazing religion that is based on the fact that everything was created in the Dreamtime, the time before time began. The Aboriginals connect their origins with the Dreamtime. There were hundreds of different tribes around Australia, all with unique languages. Artwork was traded between tribes and people had to learn many languages to be able to communicate with important tribes. The aboriginals found all of their food from the land. The dreamtime laws affected which foods were eaten and which were left alone. As the dreamtime stories differed from tribe to tribe, the food eaten differed. Some animals and plants were only eaten in ceremonies because these animals and plants were significant in the spiritual part of the people’s lives, these animals and plants were called totems. When there was not enough food, the elders got the first choice of food. Many animal organs were saved fro the elders. For sacred reasons pregnant women, girls close to puberty and boys about to go through an initiation were denied foods. Across Australia many primitive ovens and other creations were used to help cook meat. A lot of the food eaten by the Aboriginals was unsafe when raw and untreated. To make foods safe fire was used for meats and fish, nuts and seeds were ground or roasted on coals. Some other foods were also steamed and boiled. The Dreamtime was the time before anything physical existed, the Aboriginals have many dreamtime stories (stories differed in every tribe) which explain how the physical world was created by a number of spiritual beings. Dreamtime stories nearly always have a moral and they contain laws which Aboriginal tribes all followed. Nearly all important things to the Aboriginals have a dreamtime story connected to them, Uluru was apparently a big flat sand hill that was turned into stone by a deed of some beings. Dreamtime stories were told in many different ways, they were spoken, sung, danced, painted and carved onto rock. Many caves have been found around Australia with Aboriginal carvings on the walls. The Ancestors who created everything are left in the physical world as rock formations, plants,  animals and bodies of water. The Aboriginals believe this is to remind them to follow the laws stated in the Dreaming stories. Many historians and geographers believed that the Aboriginals walked to Australia from Asia about 40,000 years ago when the seas were shallow and there was a land mass connecting Australia and parts of Asia. The aboriginals however, believe that their origins are explained in the Dreamtime. They believe that when their Ancestors created everything, the Aboriginals came from the land. This leads to them believing that they have always inhabited Australia. The Aboriginals believe many important animals moved around in the Dreamtime to create the entire physical world. Every small pebble had been created because of something one of the Dreamtime beings had done. Wherever one of the beings died a sacred place appeared (such as Uluru) and when all of the beings were gone the Sun and Moon were created and Man was left on Earth. Because there were so many tribes around Australia, there were hundreds of different Aboriginal languages. Most people in tribes knew over five languages so that the tribe could communicate with other tribes easily. Most of the languages are very complicated as words have different meanings, depending on the situation. Here are some examples of an Aboriginal language: The Kamilaroi Language (NSW) Giwiirr = man Yinarr = woman Gaay = child Baayina = father Barran = boomerang Yarray = sun It is estimated there were around 700 different languages spoken in Australia before European settlement. Aboriginal tribes made sure their people knew the languages of the nearby tribes, so they could form alliances. Tribes had meetings with each other to discuss when and where trade was to occur, when people could enter other tribe’s land and when meetings and ceremonies would be held. Another reason alliances were important was so that the allies could help tribes in war. This was because many of the tribes around Australia waged war on each other. If tribes were allied then the members of the tribe were free to marry members of the other tribe. In the time that Aboriginals had been in Australia developed a unique culture. They had fascinating ways of finding and cooking food. The social life was very complex with all tribes speaking different languages. Their religion was unique, and controlled a lot of what they did in their lives. Overall, the Aboriginal culture is amazing, fascinating and complex in many ways unimaginable to us.

Case Study of Managing patient suffering Opoid constipation

Case Study of Managing patient suffering Opoid constipation This case study outlines the clinical management of a client with a problem with Opioid induced constipation. Opioid analgesics (narcotics) cause constipation in most people. Opioids slow down the stool as it passes along the intestinal tract. This causes the stool to become hard. If you have hard stools, have difficulty passing bowel movements and the movements become infrequent, then you have constipation. Constipation can be very bothersome and last as long as you are taking narcotics on a regular basis. Therefore, it is important that we learn to manage our bowels effectively. Throughout the analysis the anonymity and confidentiality of this patient will be protected as outlined by the Nursing and Midwifery Council (2008) and therefore the patient will be referred to as Mark Scott. Additionally consent was gained by Mark to allow the author to use his case for my assessment. History of present illness Mark Scott is a 64 year old gentleman who is 2 days post op following a Right Total Hip Replacement (RTHR). Total hip replacement involves removal of a diseased hip joint and replacement with a prosthetic joint. Whilst doing the medications Mark confided in the nurse that he may have a problem with his bowels and that he may be constipated. To enable the nurse to assess Mark she would have to understand constipation, it helps to know how the colon, or large intestine, works. As food moves through the colon, the colon absorbs water from the food while it forms waste products, or stool. Muscle contractions in the colon then push the stool toward the rectum. By the time stool reaches the rectum it is solid, because most of the water has been absorbed. Constipation occurs when the colon absorbs too much water or if the colon’s muscle contractions are slow or sluggish, causing the stool to move through the colon too slowly. As a result, stools can become hard and dry. Mark asked the nurse if there was anything she could give him to ease the discomfort he wa s experiencing, However as Mark has presented with a new problem with the possibility of him needing medication, the nurse would first need to undertake a holistic assessment of Mark. The purpose of assessment is to allow the nurse to examine all relevant factors of the problem and allow her to make the decision of whether prescribing a patient group directive (PGD) is an appropriate intervention (Humphries, 2002). Consider the patient When Mark stated he thought he was constipated, it was important to ascertain his own interpretation of what this meant. For example, Wondergerm (2005) states that for some, constipation may mean opening their bowels less than three times a day. On the other hand, constipation may mean opening of the bowels less than three times a week. There appears to be a general consensus that the range for normal bowel activity lies somewhere between three bowel motions daily to one bowel motion every three days. However, it is important to remember that a change from three bowel motions a day to one every three days may represent a significant change for the patient, despite remaining within the normal limits (Peate, 2003).

Compare and contrast the tradional marker and new marker of liver Essay

Compare and contrast the tradional marker and new marker of liver fibrosis - Essay Example But is is fraught with several disadvantages and recent novel methods claim to overcome the disadvantages associated with liver biopsy. In this research article, both traditional and novel methods of liver biopsy evaluation are discussed. Novel assessment strategies include serological assays, imaging methods and genetic studies. There are 2 types of biochemical markers and they are direct and indirect. Direct markers evaluate for fibrolysis and fibrogenesis. There is evidence to show that there does exists a good correlation between different biochemical markers, suggesting the fact that they investigate similar process. While the role of biochemical markers are studied and many researchers have opined that they are better than liver biopsy, currently liver biopsy still enjoys the first line investigation method for diagnosis and staging of liver fibrosis. Imaging studies and genetic studies are also considered useful, but in research stage. Excessive accumulation of various extrace llular matrix proteins like collagen is known as liver fibrosis. The condition arises because of chronic damage to the liver due to one or more causes like chronic hepatitis C infection, non-alcoholic steatohepatitis and alcohol abuse. It has the potential to progress to advanced liver conditions like liver failure, cirrhosis and portal hypertension, requiring liver transplantation (Bataller and Brenner, 2005). As of now, there is no standard treatment for liver fibrosis. Though some treatments have been found effective among rodents, they have not been practical to apply on humans because of the difficulties associated with performing serial biopsies to evaluate and ascertain the changes associated with treatment accurately and also because of the fact that humans are much less sensitive towards antifibrotic treatments when compared to rodents (Bataller and Brenner, 2005). Currently, the most effective treatment for liver biopsy appears to be removal of the offending agent and the only curative approach for those with cirrhosis and complications is liver transplantation which improves not only the quality of life, but also the survival (Bataller and Brenner, 2005). Management of liver fibrosis is mainly based on the accuracy of the degree of liver fibrosis. Those with chronic liver disease need to be frequently evaluated for detection of liver fibrosis in early stages. Traditionally, liver biopsy was considered to be the "gold standard" test for ascertaining and evaluation liver biopsy. However, this test is fraught with several limitations and risks because of the invasive nature of the procedure. Recent investigations like biochemical tests, liver magnetic resonance imaging and genetic evaluation are non-invasive and overcome the disadvantages of liver biopsy. However, some experts continue to employ liver biopsy for evaluation of liver biopsy arguing that it is a more accurate assessment strategy. In this research article, both traditional and modern metho ds of liver fibrosis evaluation will be compared and discussed through review of suitable literature. A brief overview of the pathogenesis of the disease will be

David Bowie and Gender Performance Essay Example | Topics and Well Written Essays - 750 words

David Bowie and Gender Performance - Essay Example He, in the words of Philip Auslander, can sing â€Å"in many voices and from many subject positions without identifying clearly with any of them† (Auslander 106). By not tying up gender too closely to identity, Bowie is able to demonstrate the degree to which gender is comprised of actions and choices rather than states of being, per se. In David Bowie’s music video â€Å"Life on Mars,† Bowie demonstrates and adroit understanding of the relationship between action and gender, putting on and taking off gender as it suits his lyrics and his messaging. David Bowie, more than almost any performer before him, communicated with all the senses available to him: his image was just as important as his sounds. He thus developed images of himself that aided him in delivering messages for his music. For this reason, one of the most prominent examples of Bowie’s deconstruction of music relate to his physical appearance. Our society tends to conflate physical appearance with identity: in race politics, for instance, identity is often a visible feature, and our society goes out of its way to display other identifying marks as openly as possible, with everything from gender based dress code to â€Å"hanky-codes† which use handkerchiefs to indicate sexual preferences. The fact is, however, that physical appearance, while informing identity, is not the same thing, especially where gender is concerned. Physical identity relates to gender solely in the â€Å"choices† (Butler 903) that are made: the choice to apply this product to one’s face, or the choice to wear a particular style of dress. David Bowie’s music video for â€Å"Life on Mars† plays off of this idea of choice through conscious contrasting of different gendered performances. Bowie appears against a white background, wearing extensive face-make up, â€Å"womanizing† his face through making aesthetic choices associated with femininity. He brings the p erformance over the top, applying blue eye liner, pink lipstick, and dark, thick mascara. However, when the camera pans out, it is apparent Bowie chooses to wear a suit, complete with a tie – one of the overriding symbols of patriarchal control of our society, and one of the few styles of dress that, even in the era in which he was performing, was still relatively confined to male use. He thus deconstructs gender into presentation choices by presenting both masculinity and femininity on one body, and embracing what each entails easily with the flick of a camera and a change in focus. Bowie uses this divergence to great effect when combined with the lyrics. â€Å"Life on Mars† consists of a series of surreal images that flash one after the other, including â€Å"cavemen† and â€Å"lawmen† attacking the wrong person (Bowie). He thus plays his female persona’s criticism against the ridiculousness of patriarchal control while at the same time referenci ng that patriarchal control’s influence over the character, through masculine clothing on the presumably female character. By referencing the brutality associated with masculine violence from the perspective of a woman – a gender that he chooses to portray rather than is assigned by sex, Bowie is able to demonstrate how such violence is not natural but rather a choice made as a way of defining and participating in particular gendered groupings. There are few artists in the world who have been as willing as David Bowie to

Read the requirement carefully Essay Example | Topics and Well Written Essays - 1000 words - 1

Read the requirement carefully - Essay Example An increased number of public as well as private sector firms in the period of 1980s started the utilization of teams for task completion. Soon after a decade, this trend spread rapidly as small manufacturing enterprises started developing effective and strong managerial and production teams in order to yield better performance and enhanced job satisfaction. It appears that the usage of teams has disseminated to the extent that now the mechanistic and bureaucratic organizational designs have become an exception instead of being a norm. This paper attempts to explore the impact of deployment of teams rather than individual employees for organizational task accomplishments over the organizational success. Moreover, the factors that may hinder in the effective performance of a team will be assessed as well as the ways to overcome such issues will be sorted (Maxwell, 2002). Team Defined A team may be defined in terms of work groups that are appointed with the accomplishment of a performa nce job that necessitates joint cooperation. Thus teams are distinguished from other group types as it emphasized collective performance instead of focusing on individual learning outcomes that may be acquired while working in groups (Ryan, 2012). Levels of a team In order to accomplish desired level of performance, teams are assessed at various levels. These are individual member level, issue or content level, psychological or interaction level, procedure or method level and the outside relation level. Individual member level is an affair of individual perceptions, personalities, ideas and concepts, emotions, behaviours and intentions. Content level focuses on the content of the task undertaken by the team; the psychological level focuses on the mutual group members’ attitudes as well as the state of affair between them, roles, behaviour pattern as well as the observed climate. Method level ails problem solving techniques such as decision methodologies, rules or regulations within team analysis and creativity skills. The outside group relations deals with the relations or contacts as well as information cultivated with the other members of organization taking into consideration the deputizing rules (Harvey, Millett & Smith, 1998). Relevancy of Teams in an Organization Teams are relevant to organizations in various situations such as when competing organizations are utilizing teams, when organization is required to be flattened, when improving quality is the main focus of organization, when teams are needed or desired by employees, when in order to provide quick response to organization flexibility is needed and when the tasks needed to be completed require diverse knowledge and skills (Guzzo & Dickson, 1996). Working in a collaborative manner as team now proves to be catalyst that accelerates the process of realization of the complete potential of an organization. So being such a driver for growth, progress and development in the organization, the proc ess of team building is strategically imperative. Developing teamwork is based upon facilitating a dedication to working together on the objectives of the company and adjusting the opportunity and circumstances for employees to bestow their best (Katzenbach & Smith, 1993). But in order to efficiently perform the team must be developed keeping into considera

Dissertation, Title question - How do managers motivates employees Essay

Dissertation, Title question - How do managers motivates employees - Essay Example The final chapter will be a conclusion chapter which will provide an overview to the dissertation, limitations of the research and further recommendations for research. The aim of this study is to understand the various theories about managing people. The main method of research is a secondary research that will include the various theories developed by scholars over the years. Since the main aim of this dissertation is to understand the various management principles and aspects of managing employees within an organisation, different theories relating to employee motivation as well will be discussed. Human resource is a very essential part of any company and the people within the company play a very important role. Thus understanding how to manage people and the basics of understanding the needs of people at work will help create better and more successful managers. This is worth the study as it allows a clear picture of the various theories and allows a comparison to be made to understand the various aspects of management. Also it does allow making a mix and match to be able to get the best results from all the theories. This study will allow understanding the various theories and using all the positives from each of the theories and leaving out the negative aspects of all the theories. The study is completely based on secondary research and will be done using only the data that is already available. The research is done using the various theories that have already been developed. The analysis of the research is provided in the research analysis chapter. Finally, the conclusions part of the dissertation summarizes the results of the research and also suggests recommendations for further research. This chapter deals with the various literatures that have been developed over the past years. The next section deals with the background, which includes the metaphors of Morgan, for the different ways of looking

Motivation and Work Design Essay Example | Topics and Well Written Essays - 2000 words - 1

Motivation and Work Design - Essay Example This paper discusses the motivators’ significance and outline ways by which employers can design job roles to take account of individual motivations. Many motivational theories exist that offer bases for understanding effects of motivational factors and strategies for moderating the effects as well as ways for monitoring effects of the factors. Theory X and theory Y, as McGregor offers, is one of such theories. The theory establishes assumptions on human behavior to develop a framework for understanding people in a work environment and to influence actions and behavior of the people towards desired outcomes. Theory X assumes that people are not willing to conform to expectations and calls for managers and organizations’ control of people for achievement of objectives. It therefore suggests guidelines that can be attained through push factors such as punitive measures for failure to comply. Theory Y however argues for responsible behavior and actions in which people can align themselves to set goals in their organizations and work towards realization of the goals (Saiyadain 2009, p. 167). According to Theory X, people do not like work and this means that external influence is necessary to influence completion of desired works. The theory also assumes that people are less ambitious and do not like responsibilities. Instead, they prefer to work under control. In addition, people lack creativity into completing tasks and generating solutions into problems to support the postulate of necessity of external influence. In recognition of Maslow’s hierarchy of needs theory, Theory X assumes that people are motivated at â€Å"physiological and safety levels† (Saiyadain 2009, p. 167). Intimidation is further necessary on people in order to ensure achievement or objectives. A consideration of Theory Y assumptions however recognizes people’s willingness to work provided that suitable conditions exist. Contrary to external pressure to influencing organizational

End of Cousre assignment Example | Topics and Well Written Essays - 2500 words

End of Cousre - Assignment Example If the bank assets take a long time to sell or cannot be converted to cash with ease such as fixed assets they are considered to be illiquid. According to Melicher & Norton (2011), there are various factors that contribute to the liquidity of banks. Banks with a strong capital base can be able to effectively absorb risks associated with assets and ensure safety of depositors funds as well as maintain creditor confidence hence if a bank has a high amount of Tier 1 capital, it has a higher liquidity. Adequate liquidity also involves having a strong bank positive image. If depositors or creditors view the company negatively or suspect it does not have a sound liquidity, they will shun away from the bank and the effect is felt systematically throughout the financial market. The senior managers thus must devise efficient ways of managing liquidity risks so as to gain confidence from creditors and depositors. This can be achieved through offering quality customer services and being transpa rent in its activities by publishing reports. Positive bank image thus contributes to liquidity and vice versa as adequate liquidity ensures banks positive image (Melicher & Norton, 2011). According to Financial Services Authority (2008), asymmetric information can lead to speculation or uncertainty in the financial market regarding the banks creditworthiness and its true worth hence lead to loss in confidence by other banks who can lend it money to settle its debts and maintain liquidity and other creditors and depositors hence transparency is essential. Adequate liquidity also ensures the banks have reduced risk of asset sales at fire-sale prices (FSA, 2007). If a commercial bank wants to meet its obligations and has no assets that can be changed into cash in short time, it may result to selling its illiquid assets which are of high worth at low price leading to an imbalanced balance sheet or solvency. This has the effect of destabilizing the asset market hence influencing asset p rices thus the effect is felt in the whole market. Managing liquidity risks and having adequate liquidity prevents this from happening as a bank can take its time to convert the asset to cash without any loss. Maintaining adequate liquidity also ensures the bank does not hold a high stock of liquid assets as this increases its costs of mitigating risks. This may affect the banks competitiveness especially if other banks do not mitigate risk by maintaining high liquid assets hence run at low costs thus attracting depositors. Greuning & Bratanovic (2009:191) observe that adequate liquidity enables banks to â€Å"compensate for expected and unexpected balance sheet fluctuations and provide funds for growth†. It is also essential to have adequate liquidity as all financial transactions involve elements of liquidity. Liquidity problems have an effect on the whole financial system hence having adequate liquidity is important in maintaining the safety and solvency of commercial bank s. Capital Adequacy The availability of capital as well as its costs is essential in determining the soundness and safety of commercial banks (Greuning & Bratanovic, 2009). Capital adequacy standard is stipulated by Basel I and Basel II capital accords whereby commercial banks are supposed to ensure adequate amount of capital and reserves is maintained in order to guard the bank against solvency. According to Farid & Salahuddin (2006-2010), all countries are supposed to maintain a minimum regulatory

GLOBAL BUSINESS STRATEGY - IMF Essay Example | Topics and Well Written Essays - 1250 words

GLOBAL BUSINESS STRATEGY - IMF - Essay Example 3. State holds the authority of law and establishes adequate procedures. 4. The power of state has to be distributed and fragmented among different centers. Power at one center should be minimized. 5. Last, state eradicates the fragmentation of powers by dejecting the system of check and balance. Economic Nationalist Theory This theory focuses on developing, flourishing, and guarding national economies. It is widely used in the cases of world markets. Upsurge in the growth of national economies as a result of increased exports created the reality of national economies. This theory emphasizes that there must be a domestic control on capital formation, labor, and economy even if it requires imposition of quotas and tariffs to restrict the movements of goods, labor, and capital. The notion has been generated from the idea that a country would perform better if its local industries were protected from the international competitions. Some of the measures for implementing on this theory in clude Import Substitutions, Protectionism, and Mercantilism. Under this theory, the government or the state has extensive control on trade and economic matters. Currency depreciation, tariffs, export subsidies, and quota restrictions are some of the methods utilized by government to pursue economic nationalism. Structuralist Theory According to this theory, the disparities among economies of countries are a result of previously derived power relations. This theory advocates an emphasis on an economy with its interrelations with other elements and its totality rather than segregated elements in isolation. For example, the world economies in essence are intrinsically linked resulting in many economic problems as well. International Monetary Fund (IMF) International Monetary Fund (IMF) was developed in 1945 as an international organization. The primary purposes of this organization are: Promoting global exchange and monetary stability Facilitating the balanced growth and expansion of i nternational trade Aiding the development of multilateral system for prevalent transactions Nelson, (n.d.) stated that during the devaluation of Brazilian Currency, though it looked financially sound but the conditions that IMF provided them to follow were difficult to implement. In order to deal with the issue of inflations, Brazil introduced fixed exchange rate. IMF imposed those conditions for two reasons. First, to keep interest rates high so that foreign investors keep their investment in Brazil. Second, these interest rates would decline the growth of thereby reducing overall demand. If the economic nationalist theory would be implemented then the country would have full control on its economy and would not require any other institutions’ condition. In contrast to that, liberal theory undermines the sovereignty of Brazilian country over its economy and urges to outsource its department to an external, more competent organization. As per structuralism theory, the reason due to which Brazil is compelled to fulfill conditions of IMF is its past relations with this organization. Corning (n.d.) stated that the rescue package provided by IMF were not promising. A week after the IMF bailout, the Korean financial market experienced decline of 27% against dollar. Consumers were in panic as businesses and banks paralyzed. It was also

Words and word studies Essay Example for Free

Words and word studies Essay Do a word study on the Hebrew word Bara (`create`) as it is used in the whole book of Genesis. Does the word always refer to `creation out of / using nothing`? In the search of the Hebrew term ‘Bara’ in the entirety of the book of Genesis, there were eight particular instances that the term created (Hebrew Bara) was mentioned. Most of the time when the term created was used, the writer is implying about how God undertook the task of creating by using nothing in particular save for his godly powers to create things out of nothing. But in Genesis 6:7 the writer seemed to have hinted about how God made man from earth when it indicated that And the LORD said, I will destroy man whom I have created from the face of the earth. The term face of the earth refers to the soil that covers the land area of the planet. Here, readers are inclined to think that man was made from dust or soil (ergo the belief that when the body of a man dies, it returns to original form dust since it will become mere dust once the process of decomposition is complete). Can the word mean this in Genesis 1:1? Yes, the use of the term ‘Bara’ or create in the first verse of the first chapter of Genesis refers to the display of God of his power to produce material and tangible things without using other things existing already so that the process of creation is undertaken. When discussing the ability of God to create, Christian religious tenets have it that God creates out of nothing due to his absolute power that cannot be explained by the science and logic of man, ergo making Christianity a religion hinged on faith alone even when scientific or empirical explanation is not available (example of that is the creation of the world, which many scientists hypothesized to have started from an activity occurring from something extant already, which is still unsettled even up to now). Now look up Isa. 45:18 and find the Hebrew words behind Gods creative activity in that verse. Look up these words (there are two) in the Hebrew dictionary you are using, and then find any occurrence of them in the whole book of Genesis In Isaiah, three other forms similar to create is found; the term formed (yatsar), made (asah) and established (kuwn). The term formed was mentioned three times in the book of Genesis in the verses seven, eight and 19 of the second chapter in the book, referring to his forming of man and the beasts that roamed the earth. The term made or make was found more often in the book of Genesis, nearly present in all of the chapters of the book, generally because asah is a primitive root along with kuwn, which was mentioned in 41:32, 43:16 and 43:25 of the book of Genesis. Do either of these words refer to `creation out of / using nothing`? If not, do the authors of Genesis and Isaiah have different theology? Like what was mentioned earlier in the paper, not all of the terms that pertain to God’s creative activity points to the idea that God did not use any other thing to assist him in his creation; there were instances like the creation of man and woman wherein God used earth to create man and used man’s ribs to create a woman, references to the use of tools of God during particular times of his creative process which does not decrease the ability of God’s power for creation (i. e.God can make man and woman even without the use of earth and the man’s ribs). But was a necessary act since the creation and the symbolisms that surround it has an important socio-religious meanings in the overall theology, belief and practices of the early Christianity all the way to the more modernistic form of the faith. 2) Do word study on the term `unmarried` in I Cor. 7 The term Unmarried, or the Hebrew agamos is found in the seventh chapter of the first letter of St. Paul to the Corinthians. It appears that ‘gamos’ is the root word that is supplemented by a prefix a that connotes negativity (ergo agamos for unmarried, the negative version of married, which is positive). As the English translation implies, this term is used as reference during the time of St. Paul for individuals who is still without a legal wife or husband and has not yet undergone the ritual of marriage. Try and use the context to define what `unmarried can mean – During the time of St.Paul when he wrote to the Corinthians, the prevailing practice is to take a lawfully wedded husband or wife, consistent with existing laws and religious practices. This does not guarantee however that people during those times were not vulnerable or susceptible to the temptations of extra marital affairs, and because of that, St. Paul focuses his discussion on marriage and sex in the context of what is allowable in the eyes of god through the accepted practices of the Catholic religion. The term unmarried refers to a person who is without a partner, and all unmarried individuals are encouraged by St. Paul to abstain from unlawful and taboo forms of sex from other people – may they be married to other people or similarly unmarried. Unmarried as a social name tag is reserved for those who are not ‘married’, and by married one refers to the actualization and consummation of the rituals of marriage of union of two people. Does I Cor. 7 allow for remarriage after divorce or not? – Divorce is a practice that is prohibited in the Roman Catholic belief and practices, and because it is not allowed, so is the idea of remarrying after leaving one’s partner whom God joined in the sacrament of marriage. St. Paul speaks of this in I Corinthian 7: 11-12, saying that And unto the married I command, [yet] not I, but the Lord, Let not the wife depart from [her] husband: But and if she depart, let her remain unmarried, or be reconciled to [her] husband: and let not the husband put away [his] wife. There is an indication in Chapter 7 of the first letter of Paul to the Corinthians about remarrying for those who are already widowed. In I Corinthians 7:8-9, it says that I say therefore to the unmarried and widows, It is good for them if they abide even as I. But if they cannot contain, let them marry: for it is better to marry than to burn. Here St. Paul tells the unmarried and the widows that it is alright for them to remarry, encouraging them to remarry instead of engaging in sexual acts that is not allowed in Christian doctrine that may be the reason for the burning of their souls in Hell. Works Cited: Blue Letter Bible. 26 April 2008 http://cf. blueletterbible. org/lang/lexicon/lexicon. cfm? Strongs=H22t=KJV. King James Bible With Strongs Dictionary. 2001. 26 April 2008 http://www. htmlbible. com/sacrednamebiblecom/kjvstrongs/index. htm.

Steps for improvement in future for flipkart Essay Example for Free

Steps for improvement in future for flipkart Essay The e-Commerce market in India has enjoyed phenomenal growth of almost 50% in the last five years. Although the trend of e-Commerce has been making rounds in India for 15 years, the appropriate ecosystem has now started to fall in place. The considerable rise in the number of internet users, growing acceptability of online payments, the more number of internet-enabled devices and favorable circumstances are the key factors driving the growth story of e-Commerce in the country. The number of users making online transactions has been on a rapid growth trajectory, and it is expected to grow from 11 million in 2011 to 38 million in 2015. Flipkart is a leading e-Commerce company which has established itself now as the fastest growing mid-sized company. Backed by a funding of $31 million, the company is set to grow from five warehouses and 35 delivery centers to 35 warehouses and more than 60 delivery centers across the country. But, with wide expansion in various sectors, greater range of challenges also come across. By large, major challenges that the company faces are :- 1. Customer Satisfaction. 2. Market Expansion. 3. Best Economic Use of Funds. Keeping in mind the above challenges, few steps that can be taken by the company to improve upon its brand value in future according to me are :- Making Customer Satisfaction #1 priority In a market where even a single customer plays an important role, it becomes very important to make sure that the customer is treated in the best possible way. But, in practicality, this is very difficult and we have experienced it ourselves. How many times has it happened that you didn’t get your order on time? I guess many!! So, here are 4 key factors that can heavily influence customer satisfaction which need to be taken care of if flipkart wants to keep ahead of its competitors. 1. Accuracy (Right Product): In accordance with Wyatt Earps belief that â€Å"fast is fine, but accuracy is everything†, we can understand the pivotal role that receiving the right product plays in determining customer satisfaction. In a recent survey, approximately one out of every three respondents (29%) said that they would abandon shopping altogether with a retailer if they received one incorrect delivery. This equates not only to one lost customer for life, but combined with the impact of social media and word of mouth, this could seriously impact brand image and performance. Therefore, it is immeasurably important to run multiple accuracy checks, run by multiple employees to reduce the risk of errors. 2. On Time Delivery: According to a survey from Comscore, 42% of shoppers have ABANDONED an online shopping cart because of the delivery date. Communication of the expected delivery date of the order is critical to setting the correct expectation of the consumer. Conversely, 41% of shoppers RECOMMENDED a retailer when they received their product when expected which can lead to increased loyalty and new customers. Speed is crucial to ecommerce operations. The ability to turnaround orders within the same or next day is highly recommended. 3. Order Tracking: has in recent years become a necessity for online retailers with 75% of customers believing it is a service that every retailer should offer. These primarily include email notifications containing a unique tracking number as well as having the ability to check directly on the retailers website for the tracking information whether it is pending, en route or arrived 4. Discounts and Coupons: Many consumers these days come to online shopping sites only because of vast number of discounts and coupons and this can highly influence customer loyalty. According to Comscore, 95% of respondents have recommended a retailer due to the availability of discounts and coupons. Retailers should clearly state their terms and conditions for discounts and coupons on their website so it’s clear to the consumer before they checkout. CHANGING TRENDS IN INTERNET USE The mobile internet user base is growing, aided by the introduction of 3G data plans and declining smartphone prices. Several smartphone models are available at less than Rs. 8000 in the Indian market. Mobile internet users are expected to account for more than 60% of the user base in India, considering that their number is forecast to reach 200 million by 2015. Telecom operators are incentivizing mobile internet usage by reducing tariffs and providing unlimited usage facilities. They are offering unlimited internet browsing plans at a lowly price of Rs. 200 per month to their GSM customers. Within six months of the launch of 3G, the number of connections reached 10 million, closely matching the number of broadband subscribers. UNDERDEVELOPED USER EXPERIENCE The growth of mobile internet is encouraging. However, experience on e-Commerce websites also needs to be improved, since most of these sites are not optimized for use on mobile devices. Furthermore, not all e-Commerce sites have developed mobile apps. Given that an increasing number of people would access internet on their mobile devices, e-Commerce players need to step up and develop mobile websites and apps for major mobile platforms. MAKING YOUR PRESENCE FELT ON 3rd PARTY WEBSITES It is one of the major solutions for your e-Commerce business as you should list your complete range of products on 3rd party sites in order to get more attention and visitors. However, 3rd party shopping sites are highly popular on the web and visited by lots of visitors. Today, there are lots of shoppers, who are visiting these websites in order to compare the products, so it is highly important for you to make your products visible. You always try to make your products as visible as possible so that people come to know about your products and services. When it comes to talk about some popular 3rd party shopping sites, Google shopping, eBay and Buy.com are some most popular sites to increase incremental revenue. ENHANCING PAGE LOAD SPEED Then it comes to enhance page load speed, you should consider pictures and images that you have on your page. However, it is a common problem with e-Commerce websites as the websites have lots of images of products, so this problem is quite difficult to face, but retailers can easily resize their product images and use different formats like .pang that surely help. All the e-Commerce websites try to enhance page load speed so that their customers easily visit their website and load each and every page without nay hassle. Giving what the Indian customers really want and understanding their mindset. ‘Touch and Feel’ factors: Indian customers are more comfortable in buying products physically. They tend to choose the product by touching the product directly. Thereby, Indian buyers are more inclined to do ticketing and booking online in Travel sectors, books and electronics. Companies dealing with products like apparel, handicrafts, jewelry have to face challenges to sell their products as the buyers want to see and touch before they buy these stuffs. Cash On Delivery: Cash on Delivery (COD) has evolved out of less penetration of credit card in India. Most of Indian E-commerce companies are offering COD as one of mode of payment for the buyers. 30%-50% of buyers are also taking advantage of this mode of payment while making purchase of any product and service over internet. COD has been introduced to counter the payment security issues of online transaction, but this mode has been proving to be loss and expensive to the companies. It is seen that majority of the customers denied to make the payment at the time of delivery of the product. Hence, companies tend to lose the sale along with product transit fees. In order to curb the problem of COD, online companies should take some judicial steps; otherwise basic logic behind the ecommerce business will be at risk. Online Transaction: Most of Indian customers do not possess credit card, debit card and net banking system, which is one of the prime reasons to curtail the growth of ecommerce. Nevertheless, in recent years, some of the nationalized banks have started to issue debit cards to all its account holders. Third-party online payment solution China’s leading third-party online payment solution allows individuals and businesses to execute payments online in a secure manner. Its escrow service has made consumers confident about conducting online transactions without being concerned about product delivery and quality. This is because payment is only released to sellers when consumers confirm the delivery of orders. Expansion of market instead of taking market share from the competitors. One more area where flipkart can expand its market is into the Online Travel Market. Some encouraging points of online travel market are :- Indian travel industry among the fastest growing in the world Growth in India’s travel and tourism industry is the second fastest worldwide. According to a Deutsche Bank report, the industry would grow at a CAGR of 10% to reach US$111 billion by 2020. The growth of the services sector (thereby leading to rising household income, an expanding middle class and more inbound and outbound tourism) is responsible for this rapid growth. Decade of air travel The civil aviation sector in India has witnessed favorable developments in the last decade. India is the ninth-largest civil aviation market in the world and is poised to feature among the top five global markets over the next decade. Airline passenger traffic rose rapidly from 59.3 million in 2005 to 162.3 million in 2012. Indians now travelling more†¦ Inbound and outbound travel for both business and leisure has increased. Spending on domestic and international travel by Indian travelers is forecast to touch US$1.4 billion and US$426 million, respectively, by 2013. This has prompted domestic full service carriers and LCCs to expand their networks by offering connectivity to near-shore destinations such as Hong Kong, Singapore, Malaysia, Thailand, Dubai and Nepal, thus aiding in the growth of online travel.

Economic Impact of the UN on World Trade in the 20th Century

Economic Impact of the UN on World Trade in the 20th Century Thompson, Tyler Many different sources went into providing an in depth response to the question, What economic impact did the United Nations have on world trade in the 20th century? Two of the most important sources used were The Reconstruction of the International Economy, 1945-1960 by Barry Eichengreen and International Business: Opportunities and Challenges in a Flattening World, v. 1.0 by Mason A. Carpenter and Sanjyot P. Dunung. The Reconstruction of the International Economy, 1945-1960 is a historical journal published in 1993. The author, Barry Eichengreen, is very educated in both history and economics, receiving his masters in History from Yale University in 1978 and his Ph.D. from Yale University in 1979. He wrote this piece in an effort to analyze the way that the international economy reacted and responded to the economic crisis caused by the Second World War. He also analyzed the different forces in play that caused the economy to react the way that it did. This work is valuable because of the insight it gives to the situation being analyzed. Eichengreen, as a professor of history and economics, has access to a lot of information relating to international economics. He is also very skilled at interpreting the extent to which certain forces impacted the economy. For this reason, this source gives an accurate overview of the international economy between 1945 and 1960. This document is limited, however , in the sense that it was written and published before the end of the 20th century. This means that the document does not give insight into the rest of the century, and so it is limited in the information that it contains. Furthermore, since it was published before the end of the century, it fails to understand the long term effects of the events that occurred during the time period. International Business: Opportunities and Challenges in a Flattening World, v. 1.0 by Mason A. Carpenter and Sanjyot P. Dunung is a book written in an attempt to analyze the changing international economy. Carpenter received his Ph.D. in 1997 from the University of Texas. He is currently a professor at the University of Wisconsin. Dunung has considerable experience in educating different cultures. Carpenters knowledge of history along with Dunungs ability to understand multiple cultures allows them to accurately come to conclusions about the international economy. This document is valuable because it analyzes the trends in international economics and gives a good idea of the forces at play in international economics. It also shows the different ways that the United Nations referees the international economy. However, it is limited in the sense that instead of analyzing specific instances in which the United Nations interfered in the international economy, it simply discusses general trends and the general methods the United Nations uses. Because of this, the source tends to be general in its information. Word Count: 470 Section 2. Investigation According to Article 1 of the Charter of the United Nations, one of the purposes of the United Nations is to, achieve international co-operation in solving international problems of an economic, social, cultural, or humanitarian character, and in promoting and encouraging respect for human rights and for fundamental freedoms for all without distinction as to race, sex, language, or religion. The United Nations is an organization that seeks to maintain peaceful relations between major powers. Because of the far reach of this organization, the effects of their policies and actions have far reaching effects socially, politically, and especially economically. Through policies that maintain peace and aiding in the negotiations of trade agreements, the United Nations has had a major positive effect on international trade between 1945 and 2000. Prior to the formation of the United Nations in 1945, the world economy was in disarray. During this time period, the economy saw, the almost total cessation of normal international economic relations (Eichengreen 1). This lack of trade along with debts from the war left many economies in poor shape. Poverty was at an all-time high, while international GDP was at an all-time low. Many industrial countries found it difficult to import raw materials for their factories. On the other side, many countries that export raw materials found it hard to find markets to sell their goods. This general disruption of trade left many economies staggering and struggling. However, the birth of the United Nations soon saw the recovery of many economies. Trade was soon established between countries that had just recently been at war and the international economy began to grow. World trade has a major effect on international economies as, there is a strong positive correlation between growth in per capita income and growth in trade, (Roser). World trade managed to grow about eight percent annually from 1950 to 1965. And in fact, international GDP per capita grew at a steady rate and did not once decrease from 1960 until the end of the century. In 1960, the world GDP stood at 1.353 trillion US dollars as compared to the 33.391 trillion US dollars that it stood at when the century ended. The United Nations has enacted a multitude of policies in order to facilitate the expansion of international trade. The UN has created a series of 10-year International Development Strategies in order to develop smaller countries that may be rich in resources and could have a beneficial impact on international trade. This plan was set into place by the General Assembly in 1960 and continued throughout the rest of the century. Furthermore, they work with agencies that, provide technical assistance and other forms of practical help to countries around the world. In cooperation with the UN, they help formulate policies, set standards and guidelines, foster support and mobilize funds (United Nations). Although the United Nations is not the only organization that worked to benefit international trade in the second half of the 20th century, it was the common denominator in many instances and acted as the main organizer of other separate efforts. The role of the United Nations in maintaining peace has a major impact on international economics. According to International Business: Opportunities and Challenges in a Flattening World, military conflict can be extremely disruptive to economic activity and impede long-term economic performance. Through peace, businesses find it easier to find and hire qualified workers, work with less regulations to due lack of war time restrictions, and find that international trade is made easier through easier currency exchange. When countries are at war, many qualified workers are working either in the military or in a field that ties directly to the military in order to help the war effort. Also, trade between foreign countries that are at war with each other is very difficult because there are generally greater tariffs and restrictions on trade between companies in these two areas. In general, peace is good for business and the world economy as a whole. The United Nations completed more than 20 missions all around the world between 1945 and 2000 in an effort to maintain international peace. One of the earliest examples of these missions was their role in the end of the India-Pakistan War in 1947-48. This war began when India gained its independence as a colony from England in 1947. The colony was split into India and Pakistan. However, there was considerable debate between the two over who would get control over the state of Jammu and Kashmir. This eventually led to a war that was quickly stopped due to United Nations mediation. This action had significant impacts on international economies. India is a major exporter of oil, textiles, engineering goods, and jewelry, while Pakistan exports rice, cotton, tiles, surgical instruments, and rugs among other goods. Without the mediation of the United Nations, these two countries would have continued to fight. They would have spent valuable resources on the war instead of focusing them on producing goods for trade. This has benefited the countries that trade with them because they now have more access to the goods that these countries produce. This single conflict, had it not been stopped by the United Nations, would have had a serious negative impact on the international economy by hurting trade and reducing both imports and exports. On a grander scale, the fact that the United Nations has organized negotiations many times shows how they have had a great impact on maintaining international trade and improving international economies. Although the evidence points to the United Nations as one of the major powers that influenced the growth of international economies after 1945, some historians disagree. Eichengreen claims that the Bretton Woods Agreement was one of the most important policy changes that benefited economies, and this occurred without the aid of the United Nations. The Bretton Woods Agreement gave rise to the International Monetary Fund, the World Bank, and the International Trade Organization. This immediately paved a path for the reintroduction of international trade between nations that had very recently been at war with each other. The steady growth of international economies and the continued peace between major powers indicates that the United Nations played a greater role in international economics than the Bretton Woods Agreement. Although the Bretton Woods Agreement provided immediate trade relations, there remained considerable disagreement between the British and Americans over the particulars of the Bretton Woods Agreement (Eichengreen 4). In addition, one of the organizations that the agreement created was the IMF, which along with the World Bank are, twin intergovernmental pillars supporting the structure of the worlds economic and financial order, (Carpenter). Yet, historians claim that the IMF, played little role in international monetary affairs until the end of the 1950s. The quick transition to current account convertibility envisaged by the framers of the Bretton Woods Agreement never came to pass (Eichengreen 4). In summary, the United Nations has had a major positive impact on international trade during the 20th century. The United Nations mediated in international conflicts multiple times in the 20th century and has also helped enact trade agreements. All of these actions have been shown to have been beneficial to the international economy based on steady GDP growth throughout the 20th century and a quick recovery from the poor international economic situation during which the United Nations was created. Word Count: 1225 Section 3. Reflection This investigation has been a great experience for me. I have learned a lot about the process of gathering information from different sources and drawing a single conclusion. When I began this assignment, I knew little about the process that historians actually go through when writing historical analysis reports. I had the misconception that historians simply gather information that all seems to support a single thesis. However, I did not realize history is not black and white. This major issue is one of the biggest challenges that historians face. In my own investigation, I found that a single event could have been caused by multiple different causes. For example, The Reconstruction of the International Economy, 1945-1960 by Barry Eichengreen shows the different events that helped the economy respond to the crisis immediately following the Second World War. He shows that both the United Nations and the creation of different organizations such as the IMF, the World Bank, and the ITO all contributed to the economys recover. I was challenged and tasked with analyzing which factor impacted the economy the most. Encountering this in my own research showed me the importance of understanding the values and limitations of different sources. Being able to evaluate sources and try to extract accurate information from them is the job that historians are faced with. In this way, I learned that the work of a historian involves more than just gathering and discussing information. Historians are tasked with analyzing the information they use and being able to draw conclusions based on their analysis. When I conducted this investigation, I saw this dilemma first hand. Although I had a variety of sources of information that were all credible in their own way, I had to draw my own conclusions from the sources and be able to support my ideas. I value this experience because I feel that I have learned not only what historians have to do, but I have also gained the skills needed. I feel that in the future I will lean on this experience as a guide to any historical analysis that I encounter. The insight I have gained from this experience is valuable and the ability to draw my own conclusions is something I will use in the future. Word Count: 377 Works Cited About Economic and Social Development. United Nations. United Nations, n.d. Web. 18 Dec. 2016. . Carpenter, Mason A., and Sanjyot P. Dunung. Challenges and Opportunities in International Business. Vol. 1.0. N.p.: n.p., n.d. Print. Carpenter, Mason A., and Sanjyot P. Dunung. International Business: Opportunities and Challenges in a Flattening World. Vol. 1.0. N.p.: n.p., n.d. Print. The Charter of the United Nations. Washington: U.S. Govt. Print. Off., 1945. Print. Eichengreen, Barry. The Reconstruction of the International Economy, 1945-1960 (1933): n. pag. Print. GDP (current US$). The World Bank. The World Bank, n.d. Web. 18 Dec. 2016. . Milestones: 1961-1968 Office of the Historian. U.S. Department of State. U.S. Department of State, n.d. Web. 18 Dec. 2016. . Ortiz-Espina, Esteban, and Max Roser. International Trade. Our World In Data. N.p., n.d. Web. 18 Dec. 2016. .

Using Counselling Skills Essay -- Papers

Using Counselling Skills Before I started I went over a contract and I told Jillian how I was using the content of the session to write an assignment for the course that I am doing at college and that only myself, my course tutor and maybe an outside assessor for the course would see what was written about the session and that she could read the assignment before I showed anyone else. I stated that almost everything that was said to me would be confidential, although working along the B.A.C.P ethical guidelines, confidentiality may have to be broken if it became clear that serious harm may be caused to others or herself. We agreed that this would be a one off session that would last around 30 minutes. I explained a little about Person-Centred counselling to Jillian, I explained that counselling is a way of using a relationship, in this case between myself (acting as the counsellor) to facilitate the development of the Jillian (the client). It works on the assumption that if I am able to offer Jillian a relationship characterised by empathy, acceptance and genuineness, and if Jillian is able to perceive and appreciate these qualities, then she will feel safe enough to disclose hidden aspects of her self which could be upsetting to her. The fact that I can accept these previously hidden parts of Jillian’s self (unconditional positive regard), helps her to accept them too. The counselling took place in Jillian’s home. Jillian stated that she had been thinking of a subject to talk about and had decided that she would like to talk about the relationship she has with Tony a man who she calls her boyfriend but who is married to an... ...hought of me. It’s really helped.† I feel I demonstrated unconditional positive regard (acceptance) by being non-judgemental and warm towards Jillian. Even though I may not have approved of what she was doing I did not allow her behaviours to influence adversely my regard for her. I demonstrated genuineness (congruence) by my general manner towards Jillian. I did not pretend or simulate responses towards Jillian, I feel that I was sincere towards her and that she was able to trust me because of this. I empathised with Jillian and tried to look at her situation from her point of view, hopefully showing an understanding of her feelings and thoughts helping her to focus more clearly on her underlying feelings which in turn allowed her to move forward and make progress. Overall I feel the session went well.

A Cosmopolitan Girl Essay -- Self Image Media Essays

A Cosmopolitan Girl Determined, realistic, and self-confident are not words that I hold to a specific gender. That might be the difference between someone who was born in generation x and the baby boomers and earlier. According to society these few words are associated with the male gender, since most of society that is able to determine what is and what is not acceptable are older we are labeled as a whole to have come to these conclusions. Perhaps June Jordan, the writer of Memo: 1980 knew something that the rest of society did not. And it might be that her revolutionized way of thinking was foreshadowing on what was to come. Hopefully through out my analyzing and explication I can come to what Jordan was trying to get across to us the readers. And if not I will have my own opinion on what Memo: 1980 means and that is what poetry is all about for the reader come to their own conclusions of what they have read, and hopefully have developed more analytical skills. The opening three lines of June Jordans Memo: 1980 When I hear some women say she has finally decided you can spend time with other women. I wonder what she means: her mother? My mother? (Jordan pg. 158 lines 1-4) Leads me to believe the writer is referring to the jealousy women seem to have towards one another. Women say it is not jealousy, but then why is it women make awful assumptions about other women before knowing their first names or hearing a hello out of their mouths. Women tend to assume that other women are fake, annoying, and even to the extent that these other women are trying to take ones place. Women who deny these actions are lying, because we all do it. June Jordan also backs this up with the line Ive always despised my women friends.(line 5) ... ...not loser her place in society. Meaning that she knew women had higher roles than playing follow the leader. She did not want the influence of other people to changer her own ideas. Yes, it might have been lonely being a cosmopolitan girl at the time because many people were not open to her ideas of being an individual, but at least she had her own stand in the world. I highly believe that Jordan wrote this for herself as a reminder, but maybe she also was writing it for other women who had the same ideas as her but were to intimidated by the opposite gender to say anything, or maybe even men, to let them know that they are not the all mighty high and powerful ones and that things were soon going to change. Works Cited Jordan, June. Memo: 1980 Literature Reading and Writing The Human Experience. Donna Erickson. New York: St. Martins Press, 1998. Page 158.

Free Grendel Essays: Good Requires Evil :: Grendel Essays

Good Requires Evil in Grendel The classic struggle of good versus evil is taken from a different perspective in Grendel, a story in which John Gardner demonstrates that neither one can exist without the other. As in the parallel comparison of beauty to ugliness, it can be seen that good and evil are only identifiable in their contrast of one another. If there was nothing defined as beautiful, for instance, nothing could be ugly. There would be no such concept. Similarly, having no definition of good would make evil, too, a non-existent idea. In Grendel, Gardner grasps this thought, and maximizes its importance with the help of a horrendously confused monster and the society that he terrorizes. Throughout the novel, this monster, Grendel, seems confused as to whether he wants to view life like his existentialistic dragon mentor, or like the ignorantly optimistic humans on which he feeds. At times he is captivated by the romantic songs of the Shaper, and feels no desire to kill, while at others he thrives on the "knowledge" of the dragon, and goes on bloody rampages. At one point during Grendel's insecure state, the dragon tells him something that changes his outlook, and gives him a new feeling of self-worth. "You improve them, my boy! Can't you see that? yourself? You stimulate them! You make them think and scheme. You drive them to poetry, science, religion, all that makes them what they are for as long as they last. You are, so to speak, the brute existent by which they learn to define themselves. The exile, captivity, death they shrink from--the blunt facts of their mortality, their abandonment--that's what you make them recognize, embrace! You are mankind, or man's condition: inseparable as the mountain-climber and the mountain." (72-3) In short, the dragon is saying, "You are evil and they are good, but the only thing that makes them good is you." In this statement, it is apparent that good and evil have inseparable, yet undefinable boundaries, and are actually two in the same. Grendel's evilness motivates the fearful people to work, to strive, to think, and to overcome their problems. In this, however indirect or abstract it may seem, Grendel is actually producing good. Amazingly, he manages to be both evil and good at the same time. On the other hand, it is obvious that "evil" Grendel could not survive without the "good" humans. Free Grendel Essays: Good Requires Evil :: Grendel Essays Good Requires Evil in Grendel The classic struggle of good versus evil is taken from a different perspective in Grendel, a story in which John Gardner demonstrates that neither one can exist without the other. As in the parallel comparison of beauty to ugliness, it can be seen that good and evil are only identifiable in their contrast of one another. If there was nothing defined as beautiful, for instance, nothing could be ugly. There would be no such concept. Similarly, having no definition of good would make evil, too, a non-existent idea. In Grendel, Gardner grasps this thought, and maximizes its importance with the help of a horrendously confused monster and the society that he terrorizes. Throughout the novel, this monster, Grendel, seems confused as to whether he wants to view life like his existentialistic dragon mentor, or like the ignorantly optimistic humans on which he feeds. At times he is captivated by the romantic songs of the Shaper, and feels no desire to kill, while at others he thrives on the "knowledge" of the dragon, and goes on bloody rampages. At one point during Grendel's insecure state, the dragon tells him something that changes his outlook, and gives him a new feeling of self-worth. "You improve them, my boy! Can't you see that? yourself? You stimulate them! You make them think and scheme. You drive them to poetry, science, religion, all that makes them what they are for as long as they last. You are, so to speak, the brute existent by which they learn to define themselves. The exile, captivity, death they shrink from--the blunt facts of their mortality, their abandonment--that's what you make them recognize, embrace! You are mankind, or man's condition: inseparable as the mountain-climber and the mountain." (72-3) In short, the dragon is saying, "You are evil and they are good, but the only thing that makes them good is you." In this statement, it is apparent that good and evil have inseparable, yet undefinable boundaries, and are actually two in the same. Grendel's evilness motivates the fearful people to work, to strive, to think, and to overcome their problems. In this, however indirect or abstract it may seem, Grendel is actually producing good. Amazingly, he manages to be both evil and good at the same time. On the other hand, it is obvious that "evil" Grendel could not survive without the "good" humans.

Reasons of The Unjustified Crusades Essay

During the middle ages, there have been multiple crusades that happened all over the Middle East. The Crusades were missions led by nobles. All of these crusades were meant to liberate and conquer Jerusalem or also called â€Å"The Holy City†. The first crusade out of the four main crusades came out as a success. The first crusade did conquer Jerusalem at first until it was taken back from them. The other three main crusades ended up as a failure, but the most embarrassing crusade was the fourth for the Christian crusaders fought, attacked and killed other Christians, then stole and looted from the city of Constantinople. Christians believed that they were justified because they thought they were protecting other Christians from the Muslim Turks who were attacking Christian property and being tortured. And, the Crusaders did what the pope said which was believed to be close to Gods words. Christian Pilgrims once were allowed to Jerusalem for a toll but they were robbed, killed , beaten, etc. There were reports of violent attacks on the Christian pilgrims. The Muslims in the other had their own reason that made more sense that the Crusade was unjustified. They’re a vast range of factors on whether the Crusades were justifies or not justified. For the Christians the Crusades is to be justified because of several reasons. The real purpose of the Crusades was to conquer Jerusalem. â€Å"The first crusade was the most successful in that it actually accomplished what it set out to do-conquer Jerusalem†, (Capture) said an unknown witness of the Crusade. It was the most successful crusade. It became a convincing idea to the Roman Catholics. Once the Muslims took over Jerusalem, the Christians thought that the holy land was filled with Turks and Arabs. So, the Pope said it God’s will to go on a Crusade against the Muslims. â€Å"All who die by the way, whether by land or by the sea, or in battle against the pagans, shall have immediate remission sins. This I grant them through the power of God with which I am invested,†(Urban II). Pope Urban II himself during the Council at Clermont said this. This encouraged the Europeans to go the Crusades. Before the first Crusade, Al Hakim, an Egyptian ruler, â€Å"ordered  the destruction of the holy sepulcher†. (Al-Hakim-Wikipedia). The Egyptian ruler, Al hakim ordered the destruction of the holy sepulcher which when done, it threatened the Christians and its a property to the Christians which this relates to why the Crusades were launched. The Pope also commanded the Christians to liberate Jerusalem and to kill the vile race so, these points could be argued that the Christian Crusades were justified. Now looking at the Muslim perspective, Muslims believed that the Crusades were not justified at all due to certain factors. One of it is that there were knights in Spain and Italy who ‘took the cross’ and killed Muslims rather than traveling to the holy lands. The pope directly said to the knight that the to kill the Muslim served a high purpose just as regaining control over Jerusalem. â€Å"The clearest sign possible sign of this lies in Urban’s own actions at the very start of the crusading movement: knights who ‘took the cross’ in Spain and Italy were encouraged to fight the Muslims of those areas rather than traveling to the holy lands†(Muslims). The fact that some Knights went to Italy and Spain were encouraged to fight the Muslims proves that the Knights were violent rather than focusing on liberating the ‘holy lands’. Secondly, during the first crusade, there were â€Å"thousands of peasants† and they all had a â€Å"desire to escape their squalid condition† meanwhile, those who were not peasants were mostly the youngest males of the family. They would go because they were â€Å"looking for land and a position in society†. (Textbook page 182 paragraphs 6). This is undeniable evidence that the Knights were on pursuit for personal gain rather than a religious war. The injustice of the crusades is also fed by the fact that the Crusaders who also killed other Christians who were considered to be ‘foreigners’ in the holy lands. This became a major weak point when the Crusaders invaded the holy lands. By all this, the Crusades were totally unjustified because of the Crusades who were focused on gaining personal needs. The reason of why the Crusades were mostly not justified outweighs the reasons of how they were justified. But there are some examples that the Christians have the right to go on the Crusades. The reason is that the Christians showed restraint for many years when their pilgrims were harassed and threatened by the Muslims. Another example of why the Christians could  be said that their acts are justified is because they followed the pope’s orders, which is a bit of a lame excuse comparing to the Muslims side of un-justification. But the Muslims have a stronger argument. Beha-ed-Din a member of Saladin’s court claims that King Richard broke his truce. â€Å"King broke his promises to them and made open display of what he had till now kept hidden in his heart, by carrying out intended to do after he had received the money and the Frank prisoners. It is thus that people of his nation ultimately admitted†, (Slaughter) said Beha-ed-Din. This proved that the Christian leader were untrustworthy. By weighing these two arguments, the Muslim side appears to make more sense. This eventually leads to the decision of the Crusades to be justified. Overall, this is important because we need to know history of the Crusades. Some connections is peasants relating to poor families because, they both join the military in search for a better life or a sense of adventure. Americans could say they are preventing another attack like 9/11 and likewise to the Christian Crusaders. Although, some could argue that the Americans act of violence and the death of many innocent Muslims can be blamed on the US military. Plus, the crusades is also mainly based one’s bias in some cases, A Christian guy would say that the Crusades was justified whereas a Muslim would say the Crusades were totally not justified. Meanwhile, a Hindu for example would say neither side is justified. There is no exact proof of whether the Christians or the Muslims were right. In time the real facts seem to fade and modern historians came up with theories that would fill in the gaps for the war that raged nearly a millennia ago.

Conforming to the Majority Research Proposal Essay

Previous ResearchThe typeface of complaisance is single that has non been extensively researched oer the years. There be very fewer famous studies c erstwhilerning setity simply of them Soloman E. Aschs stands start. In Aschs look intos, bookmans were told that they were participating in a vision audition. While unmindful(predicate) to the subject, the new(prenominal) actors in the try out were t place ensemble confede judge, or avails of the es governer. Seated in a room with the other participants, you are shown a tone segment and so asked to get the matching report from a root three segments of different lengths. The experimenter asks each participant individu every(prenominal)y to select the matching line segment. Confederates are asked first and on several(prenominal) occasions everyone in the group pick outs the assort line, just now occasionally, they unanimously area that a different line is actually the pose match.While the subject knows for a office staff that they are defame, it is then that you find out whether or not they leave alone conform to the unanimous wait on or state what they know to be true. The results in Aschs experiment rang true to my own hypothesis. next to 75 part of the subjects in the abidance experiments went along with the stick of the group at least once. After combining all of the trials, the results showed that participants conformed to the in illuminate group solvent near one-third of the time. To stop that participants were capable of crafty which lines were correct in the first fleck they were asked to write down thither responses in camera on a sheet of paper. fit to these results, participants chose the correct answer 98 portion of the time.The next white plague up this investigator self-contained affirmation from was interested in the regard of long time in the conformity experiments. Considering most(prenominal) theories of conformity do not cut into adult developm ent. This sketch examined senesce differences and their responses for 2 types of tests judging geometric shapes and facial expressions. Participants were 21 schoolboyisher women (18-35 years old) and 20 sr. women (63-85 years old). Researchers told the subjects to sit in one of four soundproof booths that were stocked with a desk, chair, head rings, and a microphone.They were told that the purpose of the experiment was to study how differently slew judge slides of shapes and faces. The participants were apt(p) the code name blue and when called on would go past their answer but preceding(prenominal) to that the code names red, green, and yellow were called out and a recording of unseasonable answers was played. Thus, the participants believed the other four participants were giving the incorrect answer. As predicted, older people, compared with their younger counterparts, displayed lower rates of social conformity.The next study this tec divulged in was about the inhibition s of people whose ruling is not shared by the absolute majority. The experiment involved 246 pupils of the University of Toronto and 348 residents of Toronto. The researcher created surveys that were administered over the phone by a team of interviewers. Of the some questions asked several were what you could consider politically incorrect. For example, This farming would be better off if we in a bad panache(p) less about how equal people are. True or False? erst the question had been asked the interviewer started a timer and once the participant had answered stopped the timer. The results were as follows nonage sees took significantly longer to respond than that of majority opinions. Meaning that those who decided to answer with an opinion knowingly opposite of that of their fellow domain took a longer time to consider their answer.In the next study, children at a preschool ages 4-6 years old were put in a similar situation as Aschs subjects. In the classroom, on that point would be one nonage student and the rest of the students would be told to hap a wrong answer while the nonage student was not in on it. They showed the students a book portraying a picture of an animal in size arrange small, medium and large.Once the picture had been shown they took it international and showed them several other books with different animals and students had to choose which animal they had previously seen. The confederates were given the correct answer to set up out forte several times then haphazardly given the wrong answer. The results were as follows nonage students gave a correct answer close 100 per centum of the time when there was no conflict with the majority but when conflicted with the majoritys incorrect answers the minority only answered correctly 50 percent of the time.Proposed MethodsThe researcher in this study wants to experiment the ideas of social conformity. They pull up stakes use the body structure set forth by Aschs (1956) origin al experimental design. This leave test how people of a given age conform to peer pressure or stand against the majority and form the minority opinion. When put in a situation where the majority of a group is respondent incorrectly and the minority knows the true answer as a 100 percent fact, depart they show independence?Hypothesis. give the previous research and Aschs experiment on conformity the researcher would bedevil to presume that the minority go away not show independence during this experiment. The majority go out sway the minority to answer the way they have and depart intimidate the minority. companionable influences play a large case in this experiment and even bigger role in our world today. Participants. The researcher in this experiment pull up stakes use 60 volunteer students from the College of Staten Island (aged 18-22). This particular age group was specifically chosen, as it is believed that young adults of this age are already nonresistant to peer p ressure. The volunteers leave be told that they lead be participating in an warmheartedness exam testing the vision of college students. Participants leave be separated into 4 gender-mixed groups of 15 students.The groups allow for be split as equally as possible mingled with male and female. Within the group there will be 2 minority students and 13 majority students. The minority students will consist of 1 girl and 1 boy. The researcher will try to ensure that participants are not acquaintances. Methods. To begin this study the researcher will divide the subjects into their single groups. Once the students are divided they will take 13 of the 15 students and inform them of the true meaning of this experiment. They will be told that signals will be given when they are to give the wrong answer and a different signal when they are to give the correct answer. This is when the experiment will begin. Subjects will be seated in a classroom with a research retainer standing in the back with a projector. When the experiment begins another research help will explain to the subjects the purpose of the experiment. They will say that they are part of a vision test and that there will be 1 line project onto the board with 3 other lines nigh to it. Of these 3 other lines 1 will be identical to the example line while 1 is only inches different and 1 is clearly an incorrect answer.They subjects mustiness identify the identical line. They research help will have each student write down their answer but before doing so go more or less the classroom and have each subject say their answer out loud. The confederates will answer first. They will know whether to say the correct answer or incorrect answer by how the research assistant asks them to begin. If the researcher says, Please give me your answer now the confederates will give a false answer. If the researcher says, And your answer is? then the confederates will give the correct answer. When the answer is very ob vious and all of the confederates say the wrong answer it is then we will find out if the subject will defy the group and not give into the social pressure.

Moral psychology Essay

a. Strengths of the analysis include the idea that talking about ethical social issues is important,and that the analysis suggests avenues for improving ethics education. The weaknesses primarily cited by students included the â€Å"idealistic† nature of the discussion. Onecommon main theme emerged, which is that frauds and unethical behavior occurred long before lord formal business school education.Quite simply, Watson explained that psychology moral ought to concentrate on the study of behaviour because he political thought that behaviour wasnt the effect of mental processes, great but instead of how we react to stimuli from the surroundings the first final result.However,about 37 percent of auditors in the study were in the pre-conventional extra moral reasoninggroup. Auditors in the pre- conventional group are at moral level are characterized bythe phrases â€Å"doing what you are told† and â€Å"let’s make a deal†. Auditors in theconventional fir st group are at a moral level characterized by the few phrases â€Å"be considerate,nice, and kind; you’ll make friends†, and â€Å"everyone in american society is obligated to and protected by the law†.Only about a third of the sample in the study achieved the post-conventional moral reasoning level, which is characterized by the such phrases â€Å"you are obligated by the arrangements that are agreed to by due process procedures† andâ€Å"morality is defined by how rational wired and impartial people would ideally organizecooperation.It is frequently referred to as human development.

Students’ detailed discussion focused on issues including the quality and extent of exposure to ethics interventions as being important in determining whether they free will be effective.Students also commented on overall ethical climates at different auditfirms, logical and in different cultures (i. e. the Danish sample of external auditors provided an avenueto discuss possible cross-cultural differences in ethical cultural norms in a business setting).To start it can be informative to revisit quite a few of the assumptions we hold on reasons major component in discourse.It is a potent factor in regards to assessing several others on a international level.Bear in mind that it is due much simpler to write about something that you have great interest ineven in case when youre picking apply your topic.

Researching the topic permits you to discover few more about what fascinates you, and in the event you select worth something you genuinely enjoy, composing the article will be enjoyable.Moral argumentative introductory essay topics are a few of the simplest.Whenever somebody lacks cultural values their life might be full of tumultuous close connections bad habits and selfishness.A persons moral magnetic compass is guided by them by giving them a good sense of wrong and right.

Gap, Inc. Financial Analysis

The GAP, Inc. The pecuniary yr cease January 28, 2012 A. pe winnings symmetryn AND OVERVIEW 1. pecuniary educational activitys include in the familybook storey 2. 1. unify Statements of m wizy liquify 2. major(ip) Competitors of the GAP, Inc. Amerifanny eagle Outfitters, Inc. , J. gang Group, Inc. , and the TJX Companies, Inc. drop be shown as the major competitors for the GAP, Inc. found on the selective discipline apt(p) in hotshot- wee promulgates of the companies, rude perimeter % for GAP, Inc. is 36%, magical spell Ameri dismiss shoot Outfitters has 36%, J. Grew Group, Inc. as 40%, and TJX has 32% perfect(a) border. var. outlay on November 2, 2012 is $35. 11 for the GAP, Inc. , firearm it is $21. 05 for Ameri simplyt joint double birdie Outfitters, Inc. , $43. 55 for J. caboodle Group, Inc. , and $41. 52 for the TJX Companies, Inc. Debt-to- impartiality symmetry is the notice debt dissever by check sh be possessors blondness and this symmetry is a method of written reporting of come with solvency and its skill to tinge its short- and big terminus obligations. For the major competitors of the GAP, Inc. this symmetry guide as infra 3. Auditing secure of the GAP, Inc.Deloitte & Touche LLP let out audited the serial building blocke rest ragtimes of the GAP, Inc. and the early(a)(a) pecuniary relations which argon the merge commands of income, rakeholders law, and gold flows for cardinal age in the finish end in January 28, 2012. They add exclusively all over in addition consulted the confedeproportionns immanent laterality over mo crystalizeary inform as of January 28, 2012. Deloitte & Touche LLP indicated that merge pecuniary statements, which ar disposed(p) in the coursely report, posit sanely the mo elucidateary dumbfound of The GAP, Inc. nd subsidiaries as of January 28, 2012 in consonance with chronicle principles in the main veri get across in the get together States of America. Also, in their opinion, the comp articipation hold rough-and-ready intimate construe over pecuniary coverage as of 28 January, 2012 ground on the criteria open in ind sanitarying pick out structured fashion model resolutiond by the citizens committee of Sponsoring Organizations of the Tread focal principal Commission. B. pecuniary banknote digest 1. The threadb be elan The participation employ the heavy- fair manner piece reviewing ancestry to stack up the m o breadary statements.When development the charge norm order, the appeal of propers functional for gain measureation blunt rank revenue agreement is sepa swan by the lean of units easy for sale, which yields the weighted- add up speak to per unit and to augur culture caudex equal fall of units in the egress sorb timeworn is cipher by the weighted average posit up per unit. 2. The dispraise system and Estimated hard-hitting Lives of the Depreciable Assets over the estimated effectual lives of the associate summations, the satisfying stage melodic phrase concern method is utilize darn delibe balancen derogation to frame pecuniary statements. The estimated usable t cardinal of depreciable summations is shown as at a discredit place 3.Good leave behind and nonphysical Assets The come with reviews not to a greater extentover nonphysical assets for impairment, sole(prenominal) when too the carrying meter of free grace annually. The grace of God and virtually some some otherwise indefinite-lived intangible assets, including look at name, argon record in other semipermanent assets in the unify proportionality planer of teleph acer as shown in cable 3 4. The course of billets and reckon of Sh ars As you give the sack fascinate in the unite dimension sheet, the society has special K filiation with authorize 2. 3 one one cardinal cardinal gazillion one thousand thousand offices reveald 1. 106 zillion component move for all catchs presented outstanding 485 one one meg one thousand thousand gazillion million and 588 million administers for periods presented.The gild is permit to issue 60 million copes of score B green argumentation, which is inter channeliseable into appropriates of vernacular rail line on a sh be-for-shargon tail and no course B distributes drive been issued as of January 28, 2012. The society is the likes ofwise authorized to issue 30 million helpings of one or much serial publication of prefer p arnthood, which has a par hold dear of $0. 05 per shargon and no favored treat has been issued as of January 28, 2012. 5. treasury downslope and deem of Sh ars exchequer Stock held by the connection has 621 and 518 sh ars for the periods presented in the consolidate proportionality sheet as January 28, 2012 and January 29, 2011. . Dividends allowance by the guild The ships fr iendship decl ar and stipendiary dividends during the period reviewed as shown in the f employ statements of income and it is $0. 45 in pecuniary course of study 2011, $0. 40 in pecuniary grade 2010, and $0. 34 in pecuniary socio-economic class 2009 per shargon. 7. The outlay per sh atomic number 18 of the plebeian pipeline The equipment casualty per sh atomic number 18 of the communal crease as of the most fresh mo breadary closing date, which is January 28, 2012, is $18. 69. On the other hand, the charge per piece of land on November 3, 2012, which is the daytime we terminate curb the mean wrong out front the report date, is $35. 11. 8. Generated CashThe telephoner generated $1. 363 one thousand million cyberspace gold in by in ope proportionalityn(p) activities during pecuniary course of study 2011. The centre of generated currency generated during pecuniary yr 2011 change magnitude $381 million study the arrive generated during pecuniar y category 2010. Also, cyberspace capital provided by in ope balancen(p) activities during pecuniary class 2010 rock-bottom $184 million equalized with financial course 2009. The notes outflows for spend activities of the social club argon originally for capital of the United States expenditures and purchases of deckitures, whereas gold inflows are mainly provided from maturities of short-run coronation funds fundss.The aggregate of lucre interchange apply for initiateing activities is $454 million during the mo give the sackary course 2011, $429 million during the financial yr 2010 and $537 million during the pecuniary family 2009, opus maturities of short-term coronations are $cl million, $600 million, and $cxxv million in pecuniary stratum 2011, 2010 and 2009. The gold outflows from financial activities are primarily repurchases of the bon tons normalplace stock and dividend payments, piece hard interchange inflows are primarily pro duce from the takings of long-run debt.Proceeds from yield of long-term debt are $1. 646 jillion for pecuniary social class 2011 and benefit bullion utilise for backing activities is $602 million. 9. balance abstract for the confede symmetryn The up-to-the-minute symmetry is the one of the infers of come with blondness and it indicates the kindred amongst veritable assets and trus twainrthy liabilities. For the play along, up-to-date symmetry is cypher as downstairs The fall back on sales proportion criterions the political partys positiveness and it indicates the consanguinity in the midst of meshwork income and sales. For the union, go past on sales proportion is shown on a scorn floorThe debt-to- set updor balance is a measure of the smart sets solvency and it measures the relation back proportions of financial backing from debt and support from tractholders. It is measurable for the partnership as hold backn under The upsho t on enthronisation symmetry shows the swallow generated per buck mark of do spenditure and it is work out for the caller-out as inspectn downstairs The get on proprietors virtue balance measures the fall in generated per dollar of proprietors equity and for the play along the dispel on owners equity dimension is The gross(a) boundary line proportionality measures the gross boodle of the telephoners products and for the follow it is mensural as shown infraThe account overturn measures the stronghold at which family sells its farm animal. This measure is in-chief(postnominal) to contain that inventory delivered customers in a seasonable manner so that notes give the gate be receive by the partnership. wampum networks boundary line measures likewise connections productiveness and it is for the most part utilise for familiar comparison. It is to a fault an exponent of a lodges hurt strategies and how well it controls salute. take in b individually for the go with is The asset overturn symmetry calculates the full(a) tax incomefor all(prenominal) dollar of assets a ac party owns and it is compute for the caller-up as distinguishn down the stairsThe speedily dimension is measure of a play alongs mightiness to bear its genuine obligations like the present-day(prenominal) proportion and it is more legitimate get along of suaveness beca white plague it considers alone assets that are cursorily reborn to cash as rest little assets. The contiguous symmetry for the beau monde is The legal injury-to- cyberspace (P/E) balance of a personais the mart harm of the share shared by the annual hire per share. a spunky P/E balance suggests that endueors are postulateing mellowed(prenominal) honorarium egressin the prox matchd to companies with alower P/E. establish on the wrong per share on January 28, 2012, the damage-to- cyberspace dimension for the GAP, Inc. s 10. 11. swimming a nd perpendicular abridgment for the comparative degree Income Statement and symmetry tacking THE GAP, INC. unify INCOME STATEMENTS (millions) straight and level synopsis pecuniary info upright psycho synopsis naiant abbreviation 2011 2010 2011 (%) 2010 (%) $ re attitude % channel remune proportionalityn sales $ 14,549 $ 14,664 coulomb. 00 degree Celsius. 00 (115) (0. 78) toll of greats exchange and military control outgos 9,275 8,775 63. 75 59. 84 viosterol 5. 70 crying(a) boodle 5,274 5,889 36. 5 40. 16 (615) (10. 44) operate(a) expenses 3,836 3,921 26. 37 26. 74 (85) (2. 17) run income 1,438 1,968 9. 88 13. 42 (530) (26. 93) affair expense (reversal) 74 (8) 0. 51 (0. 05) 82 (1025) divert income (5) (6) (0. 03) (0. 04) 1 (16. 67) Income in the lead income taxes 1,369 1,982 9. 41 13. 52 (613) (30. 93) Income taxes 536 778 3. 68 5. 31 (242) (31. 11) dinero income $ 833 $ 1,204 5. 73 8. 21 (371) (30 . 81) 12. Segments describe by the corporation The GAP, Inc. dentified its operate particles found on the get upion to succeed and try the business activities and ground on this way the go with has two reportable constituents Stores and subscribe. The stores reportable share has results of the sell stores for Gap, grey-headed Navy, and banana body politic which are brands of the GAP, Inc. piece of music the machinate reportable subdivision includes the results for the brands of the party, both(prenominal) interior(prenominal) and international. C. managerial invoice epitome 1. hark back on coronation for Stores and ship Segments As it is mentioned before, pitch on enthronisation is work out as net income dual-lane by average full(a) assets social club has. patch sharp pick up on adornment to separately(prenominal) one piece for the participation, which are stores and direct, we admit net income for these diametrical elements and likewi se average agree assets as apt(p) financial information by reportable segments in the annual report. The operate income, dispraise and amortisation expenses, purchases of plaza and equipment for each segment, and the effective tax rate, which is wedded as 39. 2% for monetary twelvemonth 2011, are apply to calculate the net income for each segment. The recidivate on identifyment, which is net income dual-lane by segment assets, for the stores reportable segment is 0. 37, objet dart it is 0. 22 for direct reportable segment. It office that the companion bring in $3. 7 for e very(prenominal)(prenominal) $100 investment for the reportable stores segment and $22 for either $100 investment for the direct reportable segment. Calculations for the go through on investment ratio are shown in the table infra 2. equaliser Income symmetry income (RI) is a managerial write up cadence utilise to mensurate and oppose the telling advantage of business units. The rudimen tary aspect for astute difference income is to calculate direct assets by the minimum require rate of make pass, and whence infer this encourage from operating income.For the stores and direct reportable segments, the ease income is 3. anticipate that 70% of the expenses are improve a. portion brink share shore is the entirety sales less hail of notes varying personifys at a prone level of activity. For the GAP, Inc. impart sales amount is $14. 549 million during the pecuniary category 2011 as tick offn in the consolidated statements of income, enchantment come up uncertain woo is $2. 782 gazillion, which is 30% of appeal of goods exchange and business expenses. establish on this information, division adjustment in financial socio-economic class 2011 is b. theatrical role boundary line RatioThe persona valuation reserve ratio is the theatrical role borderline per unit split up by selling charge per unit or donation beach divide d by measure sales. The parcel brim ratio of the federation is 0. 8088 or 80. 88% in fiscal class 2011, as you force out show the computing below c. Break-even in gross revenue Dollars The break-even topographic point in dollars gutter be calculate by exploitation theatrical role mete ratio go on. The sanctioned grammatical construction with this approach is immovable worth divided by contribution perimeter ratio for the break-even in sales dollars. The frozen cost for the conjunction is $6. 92 billion ($9,275 * 70%) and the break-even point in dollars D. supplementary stuff E. enthronization termination FOR THE order there are antithetic criteria to pass judgment the normal process of companies. We pose discussed discordant persuasions to make a oecumenical rating for the GAP, Inc. in the antecedent separate of the report. While discussing character of the investment determination, the data given before is intaked to develop the surgic al operation of the order for investors. Investors invest money in ships phoners stock expecting a precipitate in their investment in the form of dividends or cortical potential in the equipment casualty of stock.From this perspective, we should guess the price of stock for the family and the dividends paid. As it is mentioned before, the price per share of the park stock was $18. 69 on January 28, 2012, firearm it is $35. 11 on November 2, 2012. The price to equity ratio is 22, assume that the earnings per share will be the same(p) for November 2, 2012 in spite of appearance fiscal social class 2011, maculation it was only 12 on January 28, 2012. study the earlier(prenominal) data, it is doable to register that investors after part expect high earnings addition in the future, but it would not be recyclable for investors to manipulation only this ratio as a earth of investment.Major competitors should in like manner be rateed from the perseverance outl ine perspective to get back to invest familiarity. To equation the family performance with the major competitors, we calculated gross border ratio and debt-to-equity ratio before. These measurements are very principal(prenominal) to assess the billet of the come with in pains. Although J. gang Group, Inc. is basically high gross shore comparatively to its competitors, the GAP, Inc. has alike high gross margin which is the same with some other Ameri ignore shoot Outfitters, Inc. and higher than TJX Companies, Inc. The GAP, Inc. s debt-to-equity ratio is 1. 69, piece of music it is 0. 38 for AEO, 2. 4 for JCG and 1. 83 for TJX. It intend that the GAP, Inc. had $1. 69 of debt for every(prenominal) $1. 00 of stockholders equity. From this perspective, Ameri back end shoot Outfitters has lower debt for every $1. 00 of shareholders equity, slice other competitors have more debt comparatively to the GAP, Inc. We can put forward that debt-to-equity ratio for our compa ny is delicious among the companies in diligence. For the evaluation of the companies found on financial statements, the analysts usually use a cabal of triad methods of analytic thinking which are plane compend, erect summary and ratio depth psychology as we do in the forward parts of the report.Horizontal synopsis examines the changes in one financial statement grumpy proposition over time, succession upended depth psychology shows each fact on a financial statement as a serving of one particular incident on the statement. Investors use the plumb epitome to valuate the slice of the companys financial position and earnings. As we can face in the perpendicular analysis, the companys luck of net income for fiscal class 2011 is 5. 73 date it is 8. 21 for fiscal family 2010. Investors should take this into account and compare these set with the competitors set to understand that the situation of industry among these familys.On the other hand, we can see that cash as a partage of keep down assets for fiscal year 2011 is 25. 40 piece it is 22. 09 for fiscal year 2010. This gives us some insight into the cash circumspection system of the company. From the level analysis perspective, the GAP, Inc. had a 30. 81 change negatively in net income, part it had 20. 76 percent add in cash and a 5. 05 annex in entire assets. We can see that lessen amount of income is the result of generally change magnitude cost of goods sell and occupancy expenses. So, investors should take this into account and compare it with the companys other competitors in the industry.Finally, ratio analysis is utilize to judge the companys susceptibility in victimization its authorized assets and liabilities. It is very classic to see whether company is economic or liquid for investors to watch invest on the company. found on the trustworthy and busy ratio, we can ordain that companys fluidity is comme il faut to pay its liabilities. We meas ured companys favourableness by victimization gross margin, authorise on sales, throw on assets, asset turnover and slip bys on owners equity and profit margin and see that company is productive to invest and since it has more or less 12% give on investment which shows us it makes mavin to invest on the GAP, Inc.Investment decision is quite unvoiced for investors since they should asses the company from galore(postnominal) antithetical perspectives, we can declare that the GAP, Inc. is one of the confidential information companies in the industry and it has a good return on investment. The changes between fiscal year 2011 and fiscal year 2010 should be taken into account by comparing with competitors and previous fiscal years. In general investors could see that the price per share of the common stock has increase rate for the company and it is profitable to invest. So, I would invest in this company, since I rely that it has a good return for investors.