Phases of Capitalism - Mercantile, Classical and Keynesian

Link between Law, Democracy, and Governement Essay

Connection between Law, Democracy, and Governement - Essay Example Majority rules system doesn't focus on an individual’s supposition. The United States Government, however having republic states in it, the consistent infringement of laws and the battle of the representatives appear to have made an unfaithful climate for the worker encompassing. The connection that goes in the middle of law, majority rules system and the administration approaches centers around an imbalanced circumstance where just least advantages are noticeable for the representative network. The overview reports given in a portion of the diaries, magazines and in sites show us the outcomes just as the underlying drivers for such an imbalanced disposition going in the midst of the legislature and the workers. The general estimation is that the United When all is said in done all types of vote based government relies upon their acknowledgment of populace be it aggregative or deliberative or participatory. The United State Government centers around its hold, in the sense; less possibility are given to the populace to take a crack at any participatory exercises, for example, requesting their privileges. US follow the Federal Government, which works under the initiative of President, Vice-President, Congress and the Senate. This type of rule is the predominant characteristic of United States. Each resident is exposed to comply with the three administering bodies, for example, [1].The Federal Government, [2]. The State and [3] County. The State Government has its own duties. The occasions occurring inside a concerned state should go under the management of the State it self. The occasions or matters incorporate property guidelines, industry, business, and other open necessities lastly the criminal area of that specific state. The point of the Federal Government is to take a gander at the State as a republic and simultaneously the State ought not make a move in inconsistency o the principles or laws of the Federal Government. The State Government on the Whole is viewed

What You Should Know About Kleptomania

What You Should Know About Kleptomania Psychotherapy Print What You Should Know About Kleptomania Symptoms, Causes, and Treatments By Kendra Cherry facebook twitter Kendra Cherry, MS, is an author, educational consultant, and speaker focused on helping students learn about psychology. Learn about our editorial policy Kendra Cherry Medically reviewed by Medically reviewed by Steven Gans, MD on April 26, 2017 Steven Gans, MD is board-certified in psychiatry and is an active supervisor, teacher, and mentor at Massachusetts General Hospital. Learn about our Medical Review Board Steven Gans, MD Updated on February 03, 2020 SpeedKingz/istockphoto More in Psychotherapy Online Therapy Kleptomania is a condition characterized by an irresistible urge to steal. People will steal items that they do not need, that they could afford to buy, or that have little to no monetary value. Individuals with kleptomania experience tension that is relieved by committing the theft.?? Kleptomania often emerges sometime during adolescence and appears more commonly in women than in men.?? Because stealing is illegal, this disorder can lead to significant legal consequences. People with kleptomania may face arrest, trial, and incarceration as a result of their symptoms. One study of clinical patients found that more than 68 percent of those with kleptomania had been arrested for stealing. Just over 20 percent of these patients had been convicted and incarcerated for their crimes.?? Signs and Symptoms According to the diagnostic criteria established by the American Psychiatric Association in the DSM-5, kleptomania is characterized by a repeated inability to resist the urge to steal. People with this condition experience a buildup of tension before the theft and a consequent release of anxiety and tension when committing a theft. Stealing results in feelings of gratification, relief, and even pleasure.?? While the theft may relieve the tension the individual was experiencing, he or she  may be left with feelings of guilt and remorse following the crime. Feelings of shame, self-recrimination, and remorse are quite common following a stealing episode.?? It is important to note that kleptomania does not involve theft for personal gain.?? People with this condition are not stealing things based on a financial incentive or because they covet the items that they take. These thefts are also not related to not being able to afford the items in question. In many cases, the items themselves may hold little to no monetary value. Sometimes an individual with kleptomania will store the items away somewhere, often never to be looked at or used. Others may rid themselves of the stolen objects by giving them away to friends and family or even by returning them to the place where they were taken from. Episodes of theft usually do not involve elaborate planning and often occur spontaneously.?? People with this condition may be in a public setting such as a mall or supermarket when the urge to steal strikes. The intensity of these urges can vary. People with this condition may avoid committing thefts when the likelihood is high that their shoplifting will be detected, such as when store personnel or law enforcement is nearby. Key Symptoms of Kleptomania Include: A repeated failure to resist the impulse to stealStealing items of no value or that one does not needFeelings of relief or pleasure during the theft What Else Could It Be? Kleptomania is distinguished from normal shoplifting because shoplifters typically plan their thefts and perform this behavior to acquire items they desire but cannot afford. Individuals with kleptomania, on the other hand, steal spontaneously in order to relieve the tension that continues to build if they do not act.?? Kleptomania can occur alone, but it often appears alongside other conditions as well. People with this condition may be prone to substance use and  anxiety, as well as other disorders associated with impulse control.?? Some other disorders that can occur alongside  kleptomania include:?? Mood disordersPanic disorderSeparation anxiety disorderBody dysmophic disorderObsessive compulsive disorderOther impulse control disorders The disorder has also been shown to be associated with substance and alcohol use. Some experts suggest there may be some type of shared genetic link between substance use disorders and kleptomania.?? Research has also found that 73 percent of individuals with kleptomania are also diagnosed with an affective disorder at some point in their lives.?? Studies also suggest similarly high co-morbidity rates with other psychiatric conditions including anxiety disorders, bipolar disorder, and eating disorders.?? Between 43 and 55 percent of individuals with kleptomania have also been found to have a co-occurring personality disorderâ€"paranoid personality disorder and histrionic personality disorder being the most common. In order to diagnose kleptomania, it must first be established that the symptoms cannot be better explained by another psychiatric condition  such as conduct disorder or antisocial personality disorder. Causes The exact causes of kleptomania are skill under investigation, although it is suggested that both genetic and environmental influences may play a role. Different perspectives in psychology have suggested a few possible explanations: The Psychoanalytic Approach: Psychoanalytic explanations for kleptomania have conceptualized it in a variety of ways. Some suggest that people are driven to obtain objects in order to symbolically compensate for some type of early loss or neglect.?? According to this approach, treatment for the disorder lies in discovering the underlying motivations for the behavior. The Cognitive-Behavioral Approach: Cognitive-behavioral explanations suggest the disorder may begin when an individual is positively reinforced for stealing something. After the first theft occurs with no negative consequences, it becomes more likely that the behavior will occur again in the future. Eventually, the cues that become associated with the stealing actions become very strong, making it much more likely to continue. When a person finds themselves in a situation where similar environmental cues are present, they may find the overwhelming urge to steal simply irresistible. Because the act of stealing relieves the stress and tension the individual was experiencing, the behavior also becomes associated with stress relief. Over time, the individual may begin to steal as a means of coping with and relieving stress. The Biological Approach: Biological explanations suggest that the behavior may be linked to specific regions of the brain and possible dysregulation of certain neurotransmitters. Some studies have linked the emergence of kleptomania to dysfunction in the frontal lobe of the brain.?? In two reported cases, blunt trauma to the frontal lobe resulted in physical symptoms such as dizziness, behavioral symptoms such as aggression, and cognitive symptoms such as memory loss followed by the sudden emergence of kleptomania-related behaviors. Studies have also shown that SSRIs have been used to effectively treat kleptomania, indicating that the regulation of serotonin might be involved.?? Other neurotransmitters such as dopamine and endogenous opiods may also play a role in the development of the disorder. Prevalence Just how common is kleptomania? It is thought to be relatively rare. Estimates place the lifetime prevalence at somewhere between 0.3 to 0.6 of the population, although it has also been suggested that the real number may be higher.?? Some suggest:?? The exact prevalence of kleptomania is not known but it is estimated to impact approximately 1.2 million U.S. adults, or 6 out of every 1000 adults.It is estimated that kleptomania accounts for 5 percent of all shoplifting, translating to an annual economic loss of around $500 million. Because people may feel embarrassed or ashamed of their condition, the disorder is thought to be underreported. National data assessing the prevalence in the general population does not exist, but numbers pulled from clinical samples suggest that kleptomania may be much more common than previously believed. For example, one study of clinical patients found that nearly 3.4-28 percent reported current symptoms consistent with kleptomania.?? Diagnosis Kleptomania is typically diagnosed by a physician or mental health professional. Because kleptomania commonly co-occurs with other conditions such as eating disorders, substance and alcohol abuse, and anxiety disorders, it is often diagnosed when people are referred to a doctor for their comorbid psychiatric symptoms. Diagnosis may also occur if the symptoms of kleptomania have led to an arrest for stealing. Upon initial examination by a medical doctor, the patient may be referred to a psychologist or psychiatrist for further evaluation. Diagnosis may involve utilizing patient interviews and a review of legal records. Administering psychometric scales such as the Kleptomania Symptoms Assessment Scale (K-SAS) or the Yale Brown Obsessive Compulsive Scale, Modified for Kleptomania (K-YBOCS) may also be useful in making a diagnosis.?? The secretive nature of the disorder, as well as associated feelings of guilt and shame, can interfere with diagnosis and treatment. In some cases, people only receive a diagnosis and treatment due to contact with the legal system as a result of being caught committing a theft. Treatment Two of the most common treatments for kleptomania include: Medications: Selective serotonin reuptake inhibitors (SSRIs), as well as other antidepressants, have shown effectiveness in treating the symptoms of kleptomania?? and may be used in conjunction with cognitive-behavioral therapy. Psychotherapy: Cognitive-behavioral therapy targets both the thoughts and behaviors that contribute to stealing and has been shown to have some effectiveness at managing the symptoms of kleptomania.?? Psychotherapy is often a first line of treatment for impulse control disorders, with a goal of helping the patient learn to recognize their urges, discover why they act on these impulses, and find more appropriate ways to relieve  urges and tension. Recently there has been a shift toward using psychopharmacological interventions alongside psychotherapeutic approaches. Early intervention and effective treatment are  important in order to help people experiencing the symptoms of kleptomania avoid unnecessary distress and associated legal consequences of their condition. It is also important to treat any co-occurring conditions that may be present with the appropriate interventions. A Word From Verywell Kleptomania is a serious psychiatric condition that can have a major impact on an individuals functioning and life. Not only can the disorder lead to significant distress, it can also result in serious legal consequences for people who are caught stealing. Arrest, incarceration, and legal costs are not uncommon for those with kleptomania. Fortunately, there are steps that you can take if you or someone you know has kleptomania. With appropriate treatment, you can find ways to cope with your impulses and replace negative behaviors with more beneficial ones. If you suspect that you may have kleptomania, consult your doctor or a mental health professional to determine a treatment plan that is most appropriate for your needs.

Easy and Completely Edible Slime Recipe

Most slime recipes are non-toxic, but there are only a few you can eat and none that taste as good as this one! Heres how to make edible slime. Edible Slime Ingredients 14 oz. can of  sweetened condensed milk1 tablespoon of cornstarchfood coloring (or you could add a little unsweetened powdered drink mix)couple of drops vanilla or other flavoring, if desired Make the Edible Slime In a saucepan over low heat, stir together the milk and cornstarch. Stir and heat until the mixture thickens. Remove from heat.Stir in the coloring and any flavorings. Allow the slime to cool.Enjoy! When you are finished playing with this slime, store it in a sealed plastic bag in the refrigerator. Refrigerated slime is good for a day or two. You can clean up the edible slime with warm soapy water. If you added food coloring or drink mix, keep the slime away from surfaces which could be colored, such as carpet or upholstery.

Essay on The Striding Apis Bull - 826 Words

The Striding Apis Bull The Apis Bull originated in Memphis, cult of Serapis during the reign of Ptolemy I. Serapis was the god whose association with Osiris, the god of the dead, formed the name Asar-Hapi. Asar is the Egyptian name of Osiris and Hapi was the name given to the Apis Bull which was the object of worship at Memphis. The Greeks combined the two together to form Zaparrus. Even though it is not quite clear, it is certain that Serapis is the shape Apis took after death. â€Å"Apis is called the â€Å"life of Osiris, the lord of heaven, tem (with) his horns (in) his head .†He is said to give life, strength, and health to thy nostrils forever.† At the beginning of the new Empire Osiris and Apis are united by priests of Memphis to†¦show more content†¦Once the he was chosen he was brought to Memphis where he was enthroned in his own palace located south of the temple Ptah. Everyday he was let free to roam in the courtyard of the temple for devotees to observe. They believed that the bull’s movements could fortell the future. The Apis Bulls birthday was celebrated with a festival, and on his twenty-fifth birth year he was killed. Devotees drowned, mummified, and entombed the mummy in the Serapeum.† The Serpeum was an underground chamber in the temple. It is also known as Saqqar Necropolis. â€Å"Here he is mourned for seventy days.† This ritualistic killing was probably very symbolic of the sacrificial slaying of the king, which was a rite common in pre dynastic times. â€Å"After the bulls death a new incarnation of the god was sought, and when the right calf was found, the process was begun again.†3 The Striding Apis Bull is 18x22 7/8 inches. It is carved out of Serpentinite and has a dark polished look to it. The body structure of the bull is carved in proportion and has a nice smooth surface. The shape of the bull is very round and natural. However, below its horns on the back of its neck there are rough white lines that have been carved out. I can clearly tell that these lines have symbolic meaning. The lines roughly cross the neck and upper back forming an interesting pattern. The bull looks as

Representations of Men in Advertising Free Essays

What is a man? This question may be odd to hear, but it’s a question that is answered constantly by advertisers in print ads and television commercials, all with different approaches. But he question the advertises are asking is â€Å"What images of men will sell my product? â€Å". There is the image of the rebel, the masculine heroes, the violent or aggressive man, or the classic ‘Gentleman’. We will write a custom essay sample on Representations of Men in Advertising or any similar topic only for you Order Now In recent years we see advertisers moving closer towards the image of the ‘modern man’. The modern man, also known as the metro-sexual man, can be defined as well groomed, health and body conscious, and well dressed. The deconstruction of the two advertisements, Ralph Lauren and Michelob Ultra, accentuate this image and show its influence on the male audience. The Michelob Ultra advertisement preys on the modern mans body image perceptions, and uses them to create a desire for their product. The ad depicts an athletic swimmer, of whom we are to believe consumes the product, getting out of the pool, a picture of the product, and the heading â€Å"Lose the Carbs. Not the taste†. The caption â€Å"†¦ this is your fountain of youth† insinuates that this product will keep you healthy youthful, while being able to enjoy alcohol. There is a famous quote from Edgar A. Schoaff that reads, â€Å"Advertising is the art of making whole lies, out of half truths†. This ad from Michelob is a perfect example of this. In reality, the beer still contains carbs, almost the same amount as regular beer, but using an almost irrelevant idea of low carbs and transforming it into a, for lack of a better term, ‘healthy’ beer. This misleading idea forces easily persuaded body conscious males to believe in their product. Ultimately, this kind of advertising manipulates males thoughts and plants false images of an unattainable body. The ‘modern man’ look has grown increasingly more popular due to advertisers push to make men obsessing over their own body image. The advertisement for Ralph Lauren targets these image wise men and positions themselves as the ‘right’ image. The ad is almost completely in black and white, with just the brand name, â€Å"Ralph Lauren† standing out in the background. The contrast makes for a striking and eye catching advertisement, with a hint of panache. It depicts three young men hurdling over a tennis net, boasting their clothes and style. Thre three men are racing, playing off men’s stereotypical competitiveness and pursuit to be the best. The ad suggests that Ralph Lauren will help you get there. David Foster Wallace sums this up with his quote, â€Å"It did what all ads are supposed to do: create an anxiety relievable by purchase†. The anxiety is the endeavour to be the best and the brand will help you in that objective. Therefore, this ad boasts itself as an image of what the modern man should strive for. As a result of the many advertising archetypes presented and beliefs about normalcy, young men are growing up being bombarded by different representations and images of males and find it impossible to not fall victim of them. Young men are often enticed to emulate what they see on the television, hear on the radio or read on a newspaper ad. The allure of the lifestyle presented in advertising is most often great enough to coax the consumer to buy into it. These facts are supported by the aforementioned advertisements. Both similar in regards to target audiences, and give impressions of the modern man. One of perfect body aspirations, and the other a pursuit for the perfect look. But both simultaneously give people ambitions to be the modern man. How to cite Representations of Men in Advertising, Papers

Internship Report free essay sample

The internship report should be properly typed. Submitted both in hard copy as well as soft copy. †¢The internship report should be original, no photocopies are accepted. †¢The length of your Internship Report should not exceed 5,000 words. Use standard formal level of English (no slang or colloquialisms). †¢Use a good quality white bond paper. †¢Student should adhere to the timings for submission of report. No excuse will be entertained in any case. †¢Note: Delay in submission of internship report will attract PENALTY. WRITING RULES †¢Pages must be numbered †¢All margins (Left, Right, Top, Bottom) must be 1 inch. †¢All Headings Times New Roman 13 pts Bold †¢All Sub Headings. Times New Roman 13 pts Bold †¢All Body Text – 13 pts Times New Roman †¢All line spacing must be 1. 5 points Complete report and all paragraphs must be fully justified †¢Bind the Internship report in a suitable protective cover. OUTLINE FOR INTERNSHIP REPORT Recommended format to be followed: 1*Title page: The title page of the report will include: a. We will write a custom essay sample on Internship Report or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The names of the organization b. The name of the internee, Student ID c. The date of the final report d. Name of the university 2* Dedication Write down the dedication of your internship report. 3*Acknowledgement Write down the Acknowledgement for your internship report. 4*Executive Summary : The summary is considered by many to be the most important part of a report. It is a difficult part to write and should always be written last. (normally just one page). Purpose: Provides a brief summary of the report, information abstract. No reference is made to any part of the report; a summary is complete in itself. Content: †¢States the most important information in the report. †¢The purposes, method, reason for the report. †¢The findings, conclusions, decisions, recommendations . †¢All major generalizations or assumptions of the report. for An Executive Summary deals with every section of the report in a short form. It can be called as micro image of the report. An executive summary is overview of the complete report which helps the reader to get quick glance at the report before reading it in detail. Everything important that you have done, discovered and concluded should be mentioned, but briefly and concisely. GENERAL GUIDELINES FOR INTERNSHIP REPORT (FOR ATC STUDENTS ONLY) All the students are required to follow the following instructions: †¢Each student will have to submit the report in the recommended format. †¢Internship report is an individual task. One cannot submit the same report as the other students, each report has to be different, even if the company is same. The internship report should be properly typed. Submitted both in hard copy as well as soft copy. †¢The internship report should be original, no photocopies are accepted. †¢The length of your Internship Report should not exceed 5,000 words. †¢Use standard formal level of English (no slang or colloquialisms). †¢Use a good quality white bond paper. †¢Student should adhere to the timings for submission of report. No excuse will be entertained in any case. †¢Note: Delay in submission of internship report will attract PENALTY. WRITING RULES †¢Pages must be numbered †¢All margins (Left, Right, Top, Bottom) must be 1 inch. All Headings Times New Roman 13 pts Bold †¢All Sub Headings Times New Roman 13 pts Bold †¢All Body Text – 13 pts Times New Roman †¢All line spacing must be 1. 5 points †¢Complete report and all paragraphs must be fully justified †¢Bind the Internship report in a suitable protective cover. OUTLINE FOR INTERNSHIP REPORT Recommended format to be followed: 1*Title page: The title page of the report will include: a. The names of the organization b. The name of the internee, Student ID c. The date of the final report d. Name of the university 2* Dedication Write down the dedication of your internship report. 3*Acknowledgement Write down the Acknowledgement for your internship report. 4*Executive Summary : The summary is considered by many to be the most important part of a report. It is a difficult part to write and should always be written last. (normally just one page). Purpose: Provides a brief summary of the report, information abstract. No reference is made to any part of the report; a summary is complete in itself. Content: †¢States the most important information in the report. †¢The purposes, method, reason for the report. †¢ The findings, conclusions, decisions, recommendations . †¢All major generalizations or assumptions of the report. or An Executive Summary deals with every section of the report in a short form. It can be called as micro image of the report. An executive summary is overview of the complete report which helps the reader to get quick glance at the report before reading it in detail. Everything important that you have done, discovered and concluded should be mentioned, but briefly and concisely. GENERAL GUIDELINES FOR INTERNSHIP REPORT (FOR ATC STUDENTS ONLY) All the students are required to follow the following instructions: †¢Each student will have to submit the report in the recommended format. Internship report is an individual task. One cannot submit the same report as the other students, each report has to be different, even if the company is same. †¢The internship report should be properly typed. Submitted both in hard copy as well as soft copy. †¢The internshi p report should be original, no photocopies are accepted. †¢The length of your Internship Report should not exceed 5,000 words. †¢Use standard formal level of English (no slang or colloquialisms). †¢Use a good quality white bond paper. †¢Student should adhere to the timings for submission of report. No excuse will be entertained in any case. Note: Delay in submission of internship report will attract PENALTY. WRITING RULES †¢Pages must be numbered †¢All margins (Left, Right, Top, Bottom) must be 1 inch. †¢All Headings Times New Roman 13 pts Bold †¢All Sub Headings Times New Roman 13 pts Bold †¢All Body Text – 13 pts Times New Roman †¢All line spacing must be 1. 5 points †¢Complete report and all paragraphs must be fully justified †¢Bind the Internship report in a suitable protective cover. OUTLINE FOR INTERNSHIP REPORT Recommended format to be followed: 1*Title page: The title page of the report will include: a. The names of the organization . The name of the internee, Stu dent ID c. The date of the final report d. Name of the university 2* Dedication Write down the dedication of your internship report. 3*Acknowledgement Write down the Acknowledgement for your internship report. 4*Executive Summary : The summary is considered by many to be the most important part of a report. It is a difficult part to write and should always be written last. (normally just one page). Purpose: Provides a brief summary of the report, information abstract. No reference is made to any part of the report; a summary is complete in itself. Content: States the most important information in the report. †¢The purposes, method, reason for the report. †¢The findings, conclusions, decisions, recommendations . †¢All major generalizations or assumptions of the report. for An Executive Summary deals with every section of the report in a short form. It can be called as micro image of the report. An executive summary is overview of the complete report which helps the reader to get quick glance at the report before reading it in detail. Everything important that you have done, discovered and concluded should be mentioned, but briefly and concisely. Internship Report free essay sample Achievements Skills learned concerning office etiquette and mannerism will for sure be an asset. The mode of dressing, not to mention office language and courtesy were major learning achievements. The three months stay at the KNBS has afforded me the opportunity to acquire and develop skills that are very necessary in the job market. I also enjoyed working with statisticians, demographers, samplers and economists, who gave me the challenge and passion to endure in my academic endeavors. The work environment capacitated my ability to initiate problem solving and systematic thinking skills. More so the virtues of high work ethics and office integrity, maturity and ability to work without supervision. Adding to experience and skills were the three supervisors who were supervising us and of which we consulted them time to time whenever we encountered problems with the data, as they were trained and self motivated persons, and helped us to develop ourselves and to achieve the required skills and meeting deadlines. We will write a custom essay sample on Internship Report or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page The culture within KNBS has moulded me into a highly proactive team player ready to work under pressure. It’s in dealing with the vast national data that I developed a strong analytical knowledge of government systems, NGO’s and international agencies. The operations within KNBS revolve purely on statistics. CHAPTER THREE Conclusion The most difficult part of this job is that one has to remain seated throughout the day with only a lunch break in between, keying in data which is really challenging as there is a lot of monotony. One cannot solely rely on hard work but also speed in using the keyboard and also accuracy lest you make errors. KNBS is a good organization to work for, a reputable growing rganization which provides ample opportunity for students to polish their skills and broaden their minds while gaining experience of practical life and to work with a lot of talented and experienced people who are always adding something to your knowledge. Also helps students be ready to enter the job market which is faced with stiff competition. Thus this opportunity offers stud ents an upper hand in employment opportunity upon recommendation from the organization. All in all, the experience of working and learning at the same time in such a reputable organization is awesome. Employees there would not show attitude and even supervisors passing by would crack a joke or pass a comment and leave you enjoying it for the day. It will be an unforgettable experience of my life where I learnt the way to interact and polish my abilities at the organization level, had the experience and exposure of performing and handling tasks, supervisor and subordinate relation and development of skills and was able to practically apply my studies of statistics and data handling and I wish to work them in future after completing my degree in Economics and Statistics. Never have I felt bored, bright and full of life are the workdays at KNBS professional environment and friends I have, and made, work you enjoy. That’s what KNBS is all about. Recommendations * Engage the attaches in more rigorous activities like in research for other indicators using data available: statisticians are meant to be researchers. * Encourage the KNBS staff to incorporate the students in all of their activities related to office e. . field activities i. e. surveys etc. * The bureau should be ready to co-worker with other experts and higher institutions of learning through statistical joint forums or symposiums to discuss their challenges; successes and where assistance is needed help one another. * The Ministry of Planning and National Development, under which KNBS falls should provide remuneration(an allowance) to students which will make life a little more bearable Internship Report free essay sample I have concentrated my best effort to achieve the objectives of the report and hope that my endeavor will serve the purpose. Working 60 days in Mercantile Bank Limited, Main Branch was a worth while experience for me as it helped to combine practical experience with my theoretical knowledge. Sincerely yours, Shahinor Rahaman MBA 15th batch Class Roll:14488 Exam Roll: 2006/35 University of Chittagong. Acknowledgement Many people have contributed to the writing of this internship report. I acknowledge my indebtedness with deep appreciation to K. M Golam Mohiuddin, honorable supervisor of my internship program and Assistant Professor of School of Business, who assigned me to prepare this report on â€Å"Credit Policy Practice of Private Commercial Banks of Bangladesh, A Study on Mercantile Bank Ltd. ’’. I am especially indebted to Md. Rabiul Islam, Senior Vice President Head of Branch of Mercantile Bank Ltd. whose direct cooperation recommendation helped me to get such a nice internship immediately when getting an internship was an urgent requirement. We will write a custom essay sample on Internship Report or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page I would convey my cordial thanks to Md. Abdus Salam, Vice President Manager Operation of Main Branch. My innumerable thanks heartiest gratitude always will be to Mr. Md. Fakhruzzaman Chowdhury, AVP In charge of Credit Division of MBL Main Branch. I am indebted forever to him and without his help successful preparation of this report was really impossible for me. I am also grateful to the other executives officers of Mercantile Bank, Main branch. I am also grateful to our Departmental Chairman, for giving me an identity with which I could work at Main Branch of Mercantile Bank Ltd. Through doing this report, I have extracted more precise knowledge about various terms related to policy practice of credit. Finally, I would like to express thanks to my entire course teacher and the Department for introducing such academic work. Shahinor Rahman Abstract In Banks and Financial Institutions, Credit Risk is considered as an essential factor that needs to be managed. Credit Risk is the possibility that a borrower or counter party will fail to meet its obligations in accordance with the agreed terms. Credit Risk, therefore, arises from the Bank’s dealings with or lending to corporate, individuals and other Banks or Financial Institutions. Credit Risk Management needs to be a robust process that enables Banks to proactively manage loan portfolios in order to minimize losses and earn an acceptable level of return for shareholders. Mercantile Bank prepared Credit Policy in May 2000 and circulated the same to the Branches / concerned Executives for Compliance which was revised in August 2003. In order to cope with the fast changing scenario of dynamic global economy, liberalization and globalization and in the light of the directives / suggestions of the Focus group of Bangladesh Bank, the Credit Policy has been revised in October, 2005. All Executives / Officers of the Branch as well as Head Office especially those are entrusted with the responsibility of Credit marketing, approval processing, credit monitoring, recovery and compliance, must keep themselves thoroughly conversant with the contents of the Credit Policy for meticulous compliance. MBL is to does everything within the context of its policy and Bangladesh Bank guidelines. Every private commercial bank formulates its policy for their operations to keep banks viable and profitable and also for the safeguard of depositors’ interest. Practices of Credit are however, subject to additions, alternations and modifications as may be warranted by the change of circumstances due to passage of time, to suit the requirement of the Bank. Whatever the policy of Bangladesh Bank is most of the private commercial banks are inclined to invest in the highly profitable sector simultaneously where risks are lower. Only the credit department has been covered in the internship program, it is not possible to go to the depth of each activities of branch because of time limitation. In this report those credit schemes are high lighted only which are most familiar to common people as well as frequently practiced by a bank especially MBL Main Branch. And only the parts relevant to my focusing fields have been taken, thus the actual credit Policy has been shortened to facilitate the study. MBL discourages the persons who are inclined to get loan for their urgent purpose. Mode of disbursement, charge documents etc. creates bottleneck in loan approval process. Head office takes so longer time in processing and approval of corporate loan. The total sanctioning process event takes month after month to give the final decision. MBL does not sanction loan to all sectors equally as they require, rather it concentrates its loan and advances within some limited fields and category. It has Credit Card facilities, but ATM booths are located only in some commercial hubs in the city. Again the terms and conditions of the credit card are not changes with the changing environment. That’s why ATM card holders most often don’t take credit card facilities even in some cases employee of MBL use other banks’ credit card. Consumer credit schemes (CCS) are more popular and required things among the people of various classes, but the effective rate of interest is very high. And the terms and conditions of CCS loan are also very inconvenient and discourage people. Loan sanctioning and disbursement procedure are not so easy and flexible being considered the requirements of different classes of people. Sector wise loans in agro based industries and firms, leather technology can be convenient and flexible for the receiver. Loan facility parameter should be expanded so that all the people can get loan according to their needs. Average cost of fund is very high. On the contrary Business Power for sanctioning loans and advances at branch level is negligible. Lots of new commercial bank has been established in last few years and these banks have made this banking sector very competitive. So, now banks have to organize their operation and do their operations according to the need of the market. Banking sectors no more depends on a traditional method of banking. In this competitive world this sector has trenched its wings wide enough to cover any kind of financial services anywhere in this world. The major task for banks, to survive in this competitive environment is by managing its assets and liabilities in an efficient way. Every organization has its positive as well as negatives and in case of Mercantile Bank Limited existence of the later one is less then the earlier one and as the management is determined to reach the pick of success it seems that in near future the negatives will be eliminated. Eight years is a very short span of time and the organization, which can establish itself as one of the most reputed private commercial Bank in the country within this short period deserves special credit and with their able leaders Mercantile Bank will reach the highest level of success very shortly. Internship Report free essay sample Guidelines for Writing Internship Reports Objective Writing reports is one of the most formal ways of presenting the results of a project. Reports can be written about any professional activity including experimental or test results, design proposals, economic or technical feasibility studies and project summaries. They usually follow a major effort on a single topic and are written for review by people involved in decision making or affected by their work. Internship students are asked to write an Internship Report for a number of reasons, including practice in the following: Organizing and presenting a large amount of information elated toa problem. Interpreting relevant information. Evolving relevant conclusions which result in recommendations. Essential Elements An Internship Report contains four essential parts. However, it may also contain other information and be laid out under different tiles. These essential parts are: A clear definition of the problem addressed by the study. Ђ The details of the study including: assumptions, alternatives, and predicted outcomes; Conclusions following from the details. We will write a custom essay sample on Internship Report or any similar topic specifically for you Do Not WasteYour Time HIRE WRITER Only 13.90 / page Recommendations derived from the conclusions and addressing the problem. Recommendations are required in your Internship Report. Guidelines for Writing Internship Reports Choosing a Topic Your Internship Report should be based on a specific aspect of the relevant organization where you intend doing your internship, e. g. HR, Finance, Marketing, Logistics, etc. Hence you should research a topic that is related to your work or place of internship. In this regard ,a generalized study report will not be acceptable. Style The Internship Report is expected to be analytical rather than descriptive. It should contain accurate, factual information together with sound arguments and conclusions. The format of the report should normally follow the guidelines provided n RD Research Book issued by RD Office. General Guidelines The length of your Internship Report should not exceed 10,000 to 12000 words or 40 to 50 pages with 1. 5 line space, including appendices. The length should reflect the complexity of the topic and the thoroughness of the research. The Internship Report should be self-contained (explain any terminology particular to the topic the first time you use it), consistent, and to the point. It should be 2 understandable to someone who nas background in the area ot the report but is unfamiliar with the particular topic of the report Use standard formal level of English (no slang or colloquialisms). Use the first person only in the letter of transmittal and in the preface. Use a good quality white bond paper. Use only one side of the page for all text and fgures. Start major sections of the report on new pages. Bind the Internship Report in a suitable protective cover. Number the pages: DAII pages that come before the body of the report are numbered using lower case Roman numerals. The title page is considered to be page 1, but is not numbered. o The body of the Report begins with the introduction. The pages of the body are given in Arabic numerals. The first page of the introduction is considered to be page 1, but it is not numbered. Leave margins of 1 on the top, bottom, and sides of each page. Internship Report Format The following shows the pattern that should be used for the Internship report: *optional 3 Detailed Section Information The following information explains the purpose and suggested content of each of the Internship Report sections. Include only those sections and content which are appropriate for your topic. Cover Purpose: Provides a binding for the report, identifies the topic and owner of the eport. Content: Otitle of the report Oname of the student Olnternship Course Number (i. . CICS 500) Olnternship Employer Odate report submitted 9 Guidelines for Writing Internship Reports Letter of Transmittal (loose attachment to report slip inside front cover) Purpose: A brief covering letter, addressed to the first official reader Content: Oname of manager and department for whom the report was prepared Oterms of reference of the report Oauthorization, degree of confidentiality of report Ogeneral comm ents on the nature of and the time involved in the investigation Oa comment on the quality of the recommendations Omust be written in formal business letter style and signed in long-hand Oflrst person may be used Title Page Purpose: Identifies the topic and ownership of the report. Content: Otitle of the report (clearly identifies the subject of the report) Oname of the addressee or recipient, Army Public College of Management Sciences Ostudent, student ID ODate and place Pretace or Foreword Purpose: Provides reader with background of writing the report. Content: Opurpose, background, scope of subject coverage Ocontributions of others to the report Summary 4 The summary is considered by many to be the most important part of a report. It is a difficult part to write and should always be written last. It is often the only part that managers in the work place have time to read, so it is important to state your case succinctly (normally less than one page). Purpose: Provides a brief summary of the report, an information abstract. No reference is made to any part of the report; a summary is complete in itself. Content: Ostates the more important information in the report Othe purposes, method, reason for the report Othe findings, conclusions, decisions, recommendations Dall major generalizations or assumptions of the report The title page is considered to be page l, but is not numbered. The summary is sometimes called the Management Summary or Executive Summary. You may write the preface, or foreword, in the first person. 10 Guidelines for Writing Technical Reports Table of Contents Purpose: Identifies contents and organization of document. Content: Osection headings Opage numbers List of Figures (optional) Purpose: Identifies any figures, drawings, or photographs shown in the report. Content: Onumber of figures Otitle of fgures Opage number List of Tables (optional) Purpose: Identifies any tables shown in the report Content: Onumber of table Otitle of table Opage number Introduction Purpose: Introduces the subject of the report to the reader. Remember that the reader may be from a different branch of the discipline, and will require some orientation to the subject of your report. Content: Subject and purpose of the report: states briefly why the report is being written and what the report is intended to achieve. scope: describes how broad or how limited the treatment of the subject will be 0 5 Oplan of development: outlines which areas will be covered Othesis of the report: the general conclusion and/or the general recommendation Discussion Purpose: Presents evidence (facts, arguments, details, data, test results, etc) necessary to the purpose of the report. Content : This section contains the main part of the report. All evidence must be developed in an organized, logical and orderly manner. All information must be relevant. This section should contain pertinent fgures, tables, footnotes and references to material in appendices. Any additional supporting information should be placed in an appendix but referenced in the discussion. Any additional supporting intormation should be placed appendix but referenced in the discussion. Guidelines for Writing Internship Reports in an Conclusions Purpose: States briefly the major inferences that can be drawn from the discussion. Content: Omust be based on information presented in the discussion Deach conclusion should be presented as a separate paragraph, with paragraphs numbered in sequence for easy reference Onever suggest or recommend future action Recommendations P urpose: Suggests a course of action based on the findings and conclusions. Content: Omust follow logically from the conclusions Omust be supported both by the conclusions and by the data in the discussion References/Bibliography (optional) Purpose: Acknowledge use of materials from printed sources in the preparation of your report. Indicate exact source of all quotations and/or results of previous work. Content: Oauthors name, title of book, year published, publishers name, city, ISBN number, page number Obibliographic entries are listed alphabetically by the name of the author or by the first major work of the title OExample: Vetterli, C. Technical Report Guidelines, Internship Journal, Vol. 1 No. 1, August 1992. Ocommon knowledge does not require a reference, e. g. the peed of light, the atomic weight of some element. If a new value for a commonly accepted quantity is cited, the source should be referenced. Appendices (optional) Purpose: Includes data, which is not necessary to an immediate understanding of the discussion. Content: 6 Dappendices can contain program listings, drawings, extra figures, technical specifications, or other detailed explanations of some aspects of your Report. The conclusion should never suggest or recommend future action. References can be collected on one page at the end of the report, or they can be placed as footnotes on he bottom of the page on which the reference occurs. The term appendix applies to only one set of data: for example, program listings would be in Appendix A and technical specifications would be in Appendix B. 9 Guidelines for Writing Internship Reports Reference Material Every writer requires: Oa grammar handbook Oa good dictionary: Oxford is recommend Recommended grammar handbooks: 0Milward Flick, Handbook for Writers, Harcourt Brace, 2nd Edition, 1993. OPrentice-Hall, Handbook for Writers, 1st Edition, 1996. OStrunk and White, The Elements of Style, Collier Macmillan. 9

Gattace essays

Gattace essays Gattaca shows us the dangers of uncontrolled technology. I definitely feel that Gattaca illustrates this very well. This movie was made sometime ago and though genetic engineering and modification is something that has been around for some time now, it has progressed so much more in recent years, and it can be quite scary to some. Gattaca presents a world that states most of our fears of what could result from genetic engineering. We see this through the apparent lack of humanity and oppressive society that Gattaca lies within; people cease to be human, genes replace identities, and the manufacturing of society functions on science in a cold manner. This point is demonstrated throughout the movie; many of the characters are presented as cold and institutionalized peoplefor example, when Vincent and Irene begin to develop their relationship it appears to be somewhat cold. Rather than first getting to know Vincent as a person Irene takes Vincents hair to be sequenced and sees that he is suitable to start a relationship with. The masses of perfectly groomed, identically black suited men and women filing into Gattaca, having no conversation or interaction with each other, create a sense that this society is a bleak look into the future. After watching this movie you become aware that much this very same type of biogenetic engineering is actually going on now, this is becoming more of a reality and increasingly more so in the future. In Gattaca, parents pay to create designer babies with genetic interference to ensure that they have all the perfection possibly. Likewise in this day and age, plastic surgery, botox injections and other such advanced technology have become massively accessible, particularly for those who have the money to spend on it. Some people will do whatever it takes, and will go to extreme measures to have perfectly flawless bodies or to try and sustain their youthful looks. There ...

Advanced English Tense Review (ESL, EFL, TESL, TOEFL)

Advanced English Tense Review (ESL, EFL, TESL, TOEFL) Its back-to-school time. Before you or your students get down to studying the specifics of various grammar structures, it is a good idea to review the basic English tenses. If you are an advanced student, a review will help remind you of the tenses and also point out any weaknesses or insecurity that you may have. If you are an upper-level student but not yet aware of all the tenses, these exercises will make a good introduction to some of the important structures ahead. For an overview of conjugation in detail of all 12 tenses in English, use the tense tables for reference. Teachers can use theses guides on how to teach tenses for further activities and lesson plans in class The following exercises serve two purposes: Re-familiarization of standard tense names Tense conjugation practice The first exercise is very important as you may not remember exactly the names of the various tenses. This exercise will help you remember the names of the tenses. Once you have finished the first exercise, read the text through one more time to familiarize yourself with it completely. Go on to the next exercise that asks you to conjugate the verbs in the extract. You should be very familiar with the extract so you can concentrate on the correct conjugation. Notice how the tenses relate to each other in time. Remember that many verbs are conjugated based on how they relate to one another. Teachers can use these exercises in class by using the following lesson plan which includes the exercises in a format useful for the classroom. Tense Review Lesson Plan and Materials Here is the original text. Once you have finished, click on the exercise link to begin exercise one. John has always traveled a lot. In fact, he was only two years old when he first flew to the US. His mother is Italian and his father is American. John was born in France, but his parents had met in Cologne, Germany after they had been living there for five years. They met one day while Johns father was reading a book in the library and his mother sat down beside him. Anyway, John travels a lot because his parents also travel a lot. As a matter of fact, John is visiting his parents in France at the moment. He lives in New York now, but has been visiting his parents for the past few weeks. He really enjoys living in New York, but he also loves coming to visit his parents at least once a year. This year he has flown over 50,000 miles for his job. He has been working for Jackson Co. for almost two years now. Hes pretty sure that hell be working for them next year as well. His job requires a lot of travel. In fact, by the end of this year, hell have traveled over 120,000 miles! His next journey will be to Australia. He really doesnt like going to Australia because it is so far. This time he is going to fly from Paris after a meeting with the companys French partner. Hell have been sitting for over 18 hours by the time he arrives! John was talking with his parents earlier this evening when his girlfriend from New York telephoned to let him know that Jackson Co. had decided to merge with a company in Australia. The two companies had been negotiating for the past month, so it really wasnt much of a surprise. Of course, this means that John will have to catch the next plane back to New York. Hell be meeting with his boss at this time tomorrow. Follow the links to begin the exercise: Exercise One: Tense Identification Exercise Two: Tense Conjugation

The Strategic Causes of Conflict - What caused the 1973 Arab-Israeli Essay

The Strategic Causes of Conflict - What caused the 1973 Arab-Israeli War - Essay Example Egyptian President Anwar al-Sadat instead opted to resolve the issues through diplomacy, and resorted to withdrawing the Mitla and Gidi. Additionally, President Anwar suggested starting the diplomatic relations with the US and signing a peace pact with Israel, however, Israel also decided to withdraw to the armistice borders that were earlier established before June 5, 1967. There have been various schools of thought with regards to the implications and genesis of this war, on one side, the West European political elites placed blame on the United States for provoking the war through the assistance it provided to Israel. On the other side of the divide, Edward Heath, the then British Prime Minister did not welcome the United State’s response towards the war by its unanimous decision to uplift nuclear forces to Defense Condition 3 (DEFCON3) without giving the British government timely warning. Scholars have provided various perspectives of the October 1973 war, with a major focus on the military dimension, its societal implications between Arab, Israel and its neighbors, and its crisis in the Cold War. Given its huge crisis and implications, various researchers have only compared this war to the Suez War in 1956, the Bosnian civil war of 1992-3, and the latest Iraq war of 2003. 3This paper examines the strategic causes of this and the involvement of countries that fueled the war. An attempt is also made to provide an in depth analysis of the Western influence into this war with a focus on Britain and US. At the end of this paper and an attempt will be made to look into the negotiation process and peace building strategies that were put in place in a bid to resolve this war. Background to the Israel-Arab War When the Israel-Arab War broke out in the year 1973, Israel found itself in a defenseless position and not ready for the War for the first time – scholars have a rgued that this was a very big mistake for a nation that possessed very little information on its territorial boundaries and its enemies. However, with the progress of the war, Israel over time gained military superiority, but all in all, it was Egypt that emerged victors in the war through be achieving its main goal. In the end, the stalemate that had been at the heart of the Israeli-occupied Sinai was resolved, leading to the Camp David Accords and the Egypt’s reacquisition of the Peninsula. Other scholars have conceded that the War was in equal measure the success of President Anwar Sadat, and it never have been possible without the element of surprise tactics achieved through a carefully planned strategic deception approaches. While there were various elements to that deception campaign, an interesting one that was employed relevant to this particular case was the one of Ashraf Marwan, who was a high ranking-ranking Egyptian official and Israeli spy who by that time marri ed to the daughter of Ganal Abdel Nasser. In his endeavor in making diplomatic approaches to the conflict, President Anwar was already in the process of preparing for war. In this process, President Anwar contacted his Syrian counterpart, President Hafiz al-Asad to plan

Writing to Evaluate Essay Example | Topics and Well Written Essays - 1000 words

Writing to Evaluate - Essay Example However I feel even though what conditions these people had to face are mentioned in dramatic detail there seems to be the key aspect of not knowing what these exact hardships were. "A persistent stream pressed northward, circling the scattered settlements, staring wide-eyed at the sights of the settled land" (78). This phrase depicts the people yearning for what they didn’t have now but perhaps at one point in time did have. You can clearly feel the desperation that surrounds the nomad’s as Oz has artfully depicted their lack of options and the clear undeniable message that they were not welcome. "If you passed them on a noisy tractor and set billows of dust loose on them, they would courteously gather their scattered flocks and give you a wide passage, wider by far then was necessary. They stared at you from a distance, frozen like statues."It is the descriptive power that the writer so gracefully unfolds that brings to one’s mind not just the scene in astonish ing clarity but also the ability to get absorbed in the narrative. With the air so thick with unwelcome it is only when you really invest yourself in the narrative do you understand the message and placement that these unwelcome nomad’s served for the Israeli’s. They were blamed for every negative incident that took place regardless of whether the accusation made sense of not. The fact that there were no witnesses or solid evidence that backed up the accusations was of little value. Disease, theft and even crop damage were blamed on the new neighbors. The unfairness of it all I find ludicrous but at the same time it fascinates me as it seems to be a mere reflection of human nature – Our ability to blame others only to admitting fault within ourselves. Another interesting observation that I would like to mention is that the role of the narrator though showed considerable effort to seem fair and impartial as far as any mention of the nomads was concerned, there we re considerable amount of cracks in his demeanor. This was seen in the way racism was evident in several phrases that he had used. Such as , ‘We are no believers in forbearance or vegetarianism. This is especially true of our men. Decency constrains me not to dwell in detail on certain isolated and exceptional acts of reprisal conducted by some of the youngsters whose patience had expired, such as cattle rustling, stoning a nomad, or beating one of the shepherds senseless." It is hilarious that after admitting the behavior that they had indulged in a poor he makes excuses for it by stating that the shepherd in question "had an infuriatingly sly face. He was blind in one eye, broken nosed, drooling, and his mouth was set with long, curved fangs like a foxes"(80). Once again I marvel at the tactics adopted by the author to inject interest and a note of realism in his narrative by drawing attention to the intolerable nature that human beings have the ability to exhibit. It is alm ost a minute reminder of the segregation conducted by the Nazi’s in Germany in the way the behavior of the Israeli’s towards the nomads unfolds. Moving forwards we notice how the author shows the gradual onset towards a more cordial relationship between the nomads and the Israeli’s as the secretariat holds and audience with the elders of the nomad tribe to try to mitigate the hostilities. The nomads are seen to admit somewhat of the responsibility for the thievery and return the stolen gods. This seemed to be a promising start of a ‘mutual understanding’ between the two nations however I sense undercurrents of lessons learnt from history in which lavish and extensive promises between two nations are always in

Electoral College Essay -- Political Science

According to critics, the Electoral College is a faulty system that should be abolished and replaced by direct election. Supporters of the Electoral College system make convincing arguments that it is the best system to decide the Presidential election in a complex society such as the United States. Many scholars place the Electoral College into a historical context by discussing its evolution and sustenance throughout the history of the United States. This paper will discuss the main arguments made by supporters of the Electoral College System. I will first provide a description of the Electoral College and offer justifications as to why it was conceived by the Founding Fathers. Next, I will present major arguments from the critics of the Electoral College. In the third section, I will present the findings from proponents of the Electoral College. Finally I will conclude by synthesizing the arguments made by both opponents and proponents; I also will present research questions that were raised while working on the paper; and finally, I will stress the importance of the Electoral College and explain why I think it is the best system we have to elect the President. The Electoral College system is a body of electors who formally elect the United States president and vice president. It was one of the most difficult agenda items in the 1787 Convention, where delegates were trying to create a fair and equitable way of selecting our President. As we would expect, there were numerous suggestions. For example, some delegates urged that the President should be selected by the Legislature while opposing delegates, in favor of direct election, believed that the Presidents loyalty would be to the Legislature instead of being independent in... ...ring Constitutional Conflicts. Web. 29 Apr. 2012. . 9. Haas, Karen L. "2010 Election Results and Vote Counts." Office of the Clerk of the U.S. House of Representatives. 3 June 2011. Web. 29 Apr. 2012. . 10. Reed, Lawrence W. "Keep the Electoral College!" [Mackinac Center]. 6 Mar. 2001. Web. 29 Apr. 2012. . 11. Vita, Matthew, and Helen Dewar. "The Framers, Federalism, and One Person, One Vote." JSTOR. 17 Nov. 2000. Web. 29 Apr. 2012. . 12. Longley, Robert. "Why Keep the Electoral College?" About.com US Government Info. US Government Info. Web. 29 Apr. 2012. .

Computerized Library Management System Chapter2 Essay

Chapter 2 Review of related literature Related Literature Foreign According to Robson (2001), usability is a key requirement for users, says Elisabeth Robson, Product manager for Online Computer Library Center. The catalogue has become a way to pull together disparate resources, including commercial resources and web links. management systems also allow circulation, including check in/check out and enable libraries to purchase materials and track where they are. According to Chad (2009), consulting is at a major point of change in the wider information economy within which library systems form part of a larger whole. He was writing in a briefing paper about the study in library management systems. This studyexamined the systems used in higher-education libraries across the UK and came up with some significant observations and recommendations. It noted that the LMS market in UK higher education is already mature and that four main vendors ( Ex Libris, Innovative Sirsi Dynix and Talis) have almost 90 per cent of the market. This market maturity means, according to the study authors, that the benefits to libraries of changing LMS provider are limited. Library users expect to find everything together says Stephen Abram, vice president for innovation at Sirsi Dynix, the leading provider of software solutions and associated services for libraries. According to her traditionally, the library management system or integrated library system (ILS) was responsible for running libraries efficiently and effectively. Over the last few years, the role of the ILS has been expanding from meeting library needs to delivering user experience. Local According to Eden (2011), views that most libraries are forced to work with fewer staff because of the having a more improved and modernized system for their library. According also to the study, the library administration need to emphasize to their staff that the organization has a vested interest in providing them with the tools and training they need to assist the organization in the new information marketplace. These may include search engines, circulation systems, and the online public access catalog. According to Lopez (2002), University of the Philippines Mindanao when UP in Mindanao accepted its first batch of students in 1996, the Main Library collection was integrated with the core collection of the School of Management (SOM) Library at the Stanfilco Bldg., Ladislawa Avenue, Buhangin, Davao City. The Filipiniana and General References were housed together with the College of Arts and Sciences (CAS) collection in Room 2 of the Philippine Coconut Authority. In the Second Semester AY 1996-1997,the CAS Library moved to its main campus in Bago Oshiro. Upon the recognition of UP in Mindanao by the Board of Regents (BOR) as a constituent unit (CU) of the UP System, the CAS was split into two (2), namely: College of Humanities and Social Cost Benefits Analysis between the Existing System and the Proposed BotolanCommunity College Library System Particulars PC Express Desktop Pentium Packagewith Canon IP2770 Printer 16,500.00Windows XP Professional 5,550.00Visual Basic 6.0 5,000.00Botolan Community College Computerized Library System 10,000.00 37,050.00 Salary of one (1) Staff 12 x 5,500.00 66,000.00 Handling the Existing SystemSavings (PHP) 29,000.00 % of Savings 43.93% Source: Villman Computers(www.villman.com), PC Express (www.pcexpress.com.ph)Source:http://studentdiscounts.com/microsoftvisualstudioprofessional2010-installsonupto2computers.aspx 63 Appendix ISample Output 64 Figure 1. Log-InFigure 2. Main Menu PRO

Mergers And Acquisition Consolidation In Indian Banking Sector - Free Essay Example

Sample details Pages: 13 Words: 3950 Downloads: 8 Date added: 2017/06/26 Category Finance Essay Type Analytical essay Did you like this example? Globally it has been found that the mergers and acquisition have become one of the major ways to corporate restructuring which has also struck the financial services industry which has experienced merger waves leading to the emergence of huge banks and financial institutions. The main reason for mergers is intense competition among the companies in the same industry which put focus on economies of scale, efficiency in cost and profitability. Some other factors leading to the mergers is the à ¢Ã¢â€š ¬Ã…“too big to failà ¢Ã¢â€š ¬? principle followed by the authorities. Don’t waste time! Our writers will create an original "Mergers And Acquisition: Consolidation In Indian Banking Sector" essay for you Create order In few countries like Germany, weak banks were forcefully merged to avoid the problem financial distress arising out of bad loans and erosion of capital funds. Several academic studies have analyzed merger related gains in banking and these studies have adopted two approaches. The first approach deals with evaluating the long term performance of the merger by analyzing the accounting information such as return on assets, operating costs and efficiency ratios. A mergers is considered to have led to improved performance if the the change in the accounting based performance is superior to the changes in the performance of the comparable banks that were not involved in the merger activity during that period. Another approach is to analyze the gains in stock price of the bidder and the target company around the announcement of the merger. In this approach the merger is assumed to create value if the combined value of the bidder and target banks increase on the announcement of the merger a nd the consequent and the stock prices reflect the potential value of the acquiring banks. The objective of this paper is to present a panoramic view of merger trends in India and to ascertain two important perceptions of stake-holders, shareholders and managers and to discuss dilemmas and other issues of this topic of Indian banking. Review of Literature for impact of mergers The two important issues which are examined by various academic studies relating to bank mergers are: impact of mergers on the operating performance and efficiency of the banks Impact of mergers on the market value of the equity of both bidder and the target banks. Cornett and Tehranian (1992) and Spindit and Tarhan (1992) provided evidence for increase in post-merger operating performance. However the studies of Berger and Humphrey (1992), Piloff (1996) and Berger (1997) did not find any evidence in increase in post-merger operating performance. Berger and Humphrey (1994) also reported that most of the studies that examined pre-merger and post-merger financial ratios found no impact on operating cost and profit ratios. The reasons for mixed evidence are: lag between completion of merger process and the realization of benefits of mergers, sample selection and the methods adopted in the financing of mergers. Further, the financial ratios may be misleading indicators of perf ormance because they do not take into account for product mix or input prices. On the other hand researches may also could have confused scale and scope efficiency gains with what is known as X-efficiency gains. Recent studies have explicitly employed frontier X-efficiency methods to identify the X-efficiency benefits of bank mergers. Few studies have also analyzed the potential benefits and scale economies of mergers. Landerman (2000) explored diversification benefits to be had from banks merging with non banking financial service firms. Simulated mergers of US banks and non-bank financial service firms demonstrated that diversification of banks into insurance business and securities brokerage is optimal for reducing the probability of bankruptcy for bank holding companies. Wheelock and Wilson (2004) found that expected merger activity in US banking industry is positively related to management rating, size of the bank, competitive position and geographical location of banks and is negatively related to market concentration. The second issue determined was the analysis of merger gains in terms of the gains in stock price performance of the bidder and the target banks on announcement of merger. In this case a merger is expected to create value only if the combined value of the bidder and target companies increases after the declaration of the merger. However a lot of studies have failed to find any direct relationship between the merger and the gains in performance or in shareholder wealth. But there are reasons for mixed evidence as a merger announcement also takes in to account the way the deal is financed .If equity offerings are used it may be interpreted as overvaluation by the issuer. Therefore the negative announcements returns to the firms that are bidding can be attributed to the negative signalling which is completely unrelated to the value which is created by the merger. Returns to the bidders companies shareholders is greater when the merger is t otally financed with cash than in mergers in which financing is done through equity offering. There is one more problem with this event study analysis as if there is a consolidation wave going on; mergers are anticipated by stockholders and analyst. Potential candidates for the mergers are highlighted and made popular by the financial press and the stock market analysts. In these cases the event study analysis may fail. Therefore an analysis of mergers across the world and a literature review does not provide strong evidence on the benefits gained by banks in the mergers in the banking industry. Also the findings of the literature also contrast with the findings of the consultants who find a considerable cost savings and operational efficiency achieved through mergers. The reasons why academic study do not find cost benefits and the consultants highlight this fact are Consulates may study a potential cost savings which may not materialize They tend to highlight potential co st saving activities and the economist study all the activities. They tend to be biased towards successful cases and ignore the unsuccessful ones. They tend blow up the benefits achieved while the benefits may be miniscule if accounted on a relative terms. The academic studies provide motivation for the examination and evaluation of two important issues pertaining to the mergers and acquisition to the Indian banking. Do mergers help in improving the operational performance and result in cost savings However in India most of the mergers are forced by the central bank in order to protect the interest of the depositors and avoid financial distress therefore the above mentioned reason is rarely found in the mergers activities. Do merger provide abnormal gains and returns to the acquirer and the target banks upon the declaration Consolidation Trends Observed in India Improving the operational performance and cost efficiency has always been a priority in Indian banking sector and has been a major issue of discussions in the policy formulation by the government of India in the consultation and with the central bank (Reserve Bank of India). Several committees have also been formed in order to suggest structural changes to achieve this objective. Some of the major committees formed are Banking Commission, 1972 Chairman R.G Saraiya, 1976 chairman : Manubhai Shah Committee for the functioning of public sector banks, 1978 chairman : James S Raj These committeeà ¢Ã¢â€š ¬Ã¢â€ž ¢s have suggested the restructuring of the Indian banking system with an objective to improve the process of credit delivery and also suggested the idea of having around 3 to 4 large banks which have a pan India presence and the rest of the bank should be present at the regional level. The major thrust on consolidation started with the Narasimham committee in 1991. It em phasised and embarked upon consolidation and merger in order to make the Indian banks huge in size and also comparable to the global banks. A second Narasimham committe was also formed in 1998 which suggested mergers and consolidation among the strong banks in public as well as private sector and also with other financial institutions, NBFC (Non Banking Financial Companies). Now we will have a look at some of the recent trends in consolidation in Indian banking. Restructuring of weak Indian Banks Amongst other routes government of India has adopted mergers as a means to achieve restructuring of the Indian banking system. Many banks which are small in size and are weak are merged with other banks which are stronger and are larger to protect the interest of the depositors and also to avoid financial distress. These types of mergers can be termed as forced mergers. Hence when a banks shows symptoms of sickness like increasing size of NPAs, reduction in the net worth and substantial decline in capital adequacy ratio, RBI forces moratorium under the section 45(1) of the Banking Regulation act 1949 for a specified period on the activities and the operations of the working of the sick bank. In this period a strong bank is identified and asked to prepare and present a scheme of merger with the weak bank. In this case the acquirer banks takes hold of all the assets of the weak bank and ensures the depositors of their money in case they want to withdraw. The mergers which took place in the pre-reform period fall into this category. In the post reform period 21 mergers have taken place out of which 13 are forced mergers where RBI has intervened. The main reason for these mergers was the protection of the depositorà ¢Ã¢â€š ¬Ã¢â€ž ¢s interest and avoids the financial distress. Mergers which took place voluntarily Apart from forced mergers there have been few mergers in which expansion, diversification and growth were the major motives and in which RBI did not intervene or force. The first merger of this kind took place in 1993 when the Times Bank was acquired by HDFC bank which was followed by acquisition of Bank of Madura by the ICICI Bank. The latest of these is merger of Lord Krishnan Bank with Centurion Bank of Punjab. Although in all these deals the target bank suffered with low profitability, Increase in NPA and lack of alternate revenues in order to provide cushion for capital adequacy but these mergers were not forced. There was no regulatory intervention in these mergers however the motives behind these mergers may not necessarily be scale of economies and achieving market power. For instance ICICI bank acquired bank of Russia with a motive of entry in to Russia although it just had one branch. SBI acquired 51% stake in Mauritian Bank through Indian Ocean International Bank which w ill be integrated with the State Bank of Indiaà ¢Ã¢â€š ¬Ã¢â€ž ¢s International business as a subsidiary. Integration of Financial Services and Achieving Universal Banking Model Several developmental financial institutions have been formed over a period of time in India in order to improve the efficiency of allocation of resources to different segments of the economy. However because of the flexibility given by the RBI to the banks in the credit delivery process the banks have increased and diversified their loan portfolio to various areas such as project finance, long-term loans, and other specialised sector lending. This is the reason why DFIà ¢Ã¢â€š ¬Ã¢â€ž ¢s have become redundant. A working capital group (1998) was appointed by RBI which has recommended the universal model of banking by exploring the possibility of mergers between various sets of financial entities based on economical considerations. Similarly in the private sector ICICI merger with its subsidiary bank and IDBI (industrial Development Bank of India) was incorporates as a public sector bank which acquired private sector bank IDBI bank in 2004. In order to provide integrated financial s ervices and achieve operation efficiencies many public sector banks have acquired their subsidiaries, for instance Andhra Bank acquired its housing finance subsidiary Andhra Bank Housing Finance LTD, Bank of India acquired BOI finance Ltd and BOI Asset Management Company Ltd. Acquisition of similar types took place in the private sector as well. Alignment of Operations of Foreign Banks with Global Trends As the Parent banks went under reconstruction process their parts operating in India also started restructuring. For example, Standard Charted Grindlay bank was formed due to acquisition of ANZ Grindlay by the Standard Charted Bank. Similarly due to acquisition of two Japanese banks like Sakura Bank and Sumitomo Bank Ltd the Indian operations of Sakura Bank were merged with Sumitomo Bank in 2001.Forign banks were permitted to enter into merger and acquisition transaction with any of the private sector bank in India with a condition that the overall investment limit limit will be 74 per cent after the second phase of WTO commitments which commenced in April 2009. This may lead to further consolidation in the Indian banking sector. Merger and Consolidation of Cooperatives, RRBs and UCBs Small banks present in India apart from other banks are co-operative banks, Regional Rural Banks (RRBs) and Urban Co-operative Banks (UCBs). These are formed for fulfilling the credit requirements of agriculture, small traders and SSI and other rural economic activities. All of these institutions are suffering from bad loans, operational inefficiencies, and Poor recovery of loans. This proved to be a barrier for further lending and financial intermediation. A committee formed under Jugdish Capoor suggested voluntary amalgamations or merger of these co-operatives based on various criterias like economies of scale, especially in areas where the operations of these banks have become unviable and there are no more in a position to supply credit to agriculture sector. 28 RRBà ¢Ã¢â€š ¬Ã¢â€ž ¢s were consolidated into 9 new RRBà ¢Ã¢â€š ¬Ã¢â€ž ¢s in September 2005.A high powered committee on Urban Co-operative Banks (1999) recommended that UCBs which are sick should be liquidated in a tim e bound manner as the operation of large number of financially sick banks is devastating for UCBs and also for the interest of depositors. Due to this more mergers are expected in the future and RBI also has taken a lot of new initiatives for restructuring of banks including the issuance of guidelines in May 2005. Shareholders Perception of Merger As stated above the Indian banking sector has experienced two types of mergers à ¢Ã¢â€š ¬Ã¢â‚¬Å" focussed and voluntary mergers. Forced mergers were initiated by RBI and their main objective was to protect the interest of the depositors and prevent financial distress of the banks. Whenever a bank showed symptoms of sickness like huge NPA levels, erosion of net worth etc, RBI intervened and merged the weak bank with a stronger one by force. Thus we can form a hypothesis that in case of forced mergers the target banks shareholders will gain abnormally with the declaration. The second type of merger is voluntary type where the motivation behind the merger is to achieve cost reduction, increase in size, diversification, strategic entry into a market. In these cases the acquired banks reaped the benefit of branch network and customer clientele of the banks acquired. In these cases both the acquirer bank and the target bank must have had benefit out of the merger. In this paper the merg ers between 1993 to 2006 are considered. There were 21 mergers out of which only five were voluntary. These are mainly mergers of private sector banks with other private sector banks. Two cases are conversion of financial institution to commercial bank where the objective was to form a universal bank model which offers a wide range of financial services. Ina study conducted which is presented in this paper six cases of forced mergers were selected for the purpose of analysis as in other cases the target banks were not listed and the size of the banks were much lower than the acquirer banks therefore these cases are of less merit for further analysis. In this study the wealth effects of almost all the banking mergers during the period 1999-2006 is analyzed. The event study analysis used in this analysis is very straight forward and conventional. The merger period consist of four days prior and four days after the event. The reason for taking such window is to analyze the change in wealth of the shareholder around the day of the declaration on the merger. Daily adjusted closing prices of stocks and the market index is taken for the analysis. The abnormal returns are calculated as follows. ARit= Rit à ¢Ã¢â€š ¬Ã¢â‚¬Å" [a + BRm] Here Rit: daily return on firm à ¢Ã¢â€š ¬Ã‹Å"ià ¢Ã¢â€š ¬Ã¢â€ž ¢ on day à ¢Ã¢â€š ¬Ã‹Å"tà ¢Ã¢â€š ¬Ã¢â€ž ¢ Rmt is the return on the bench mark index a and B are the regression parameters. The abnormal return is calculated for both the acquirer and the target firm and the significance of these values are tested by finding standard error and the t-value : Analysis of Research Results In forced mergers case the stockholders of target banks have not achieved any significant returns on the declaration of the merger. However in the case of Nedungadi Bank, the stockholder did gain significant on the 2nd day of the announcement but after that no abnormal returns were found. In the case of GTB the stockholders had deeply discounted the merger. As it was a case of serious case of bank failure the merger did give a confidence to the depositors but the merger declaration did not provide any abnormal returns. United bank did gain marginally on the announcement but it was not significant statistically. Thus the hypothesis that target banks shareholders welcome merger announcement as a safety net can be rejected. The shareholders of the acquirer bank lost their market value of equity. In case of ICICI bank, it was signalled as an emergence of a large private sector bank and hence due to which the bankà ¢Ã¢â€š ¬Ã¢â€ž ¢s shareholders expectations go up with significant incre ase in the returns. In other cases of acquisition the acquirer bank lost on merging with the weak banks. Hence in all the forced mergers neither the acquirer bank nor the target bank gained on declaration of the merger and the stockholders of the acquirer bank lost wealth as the announcement of the merger was taken as a negative signal. It is argued that merger of weak banks with strong ones is essential for restructuring of banking system and also a step in the consolidation of the banking sector. But in almost all the mergers it was found that the target banks for the merger were determined at the time when they were at the verge of getting collapse. The acquirer bank which was forced by RBI was left with no option but to accept the proposed merger. It is recommended that RBI should pursue Prompt corrective action system and should determine the weak banks on the basis of some defined criterias so that the acquirer bank can choose the target banks on the strategic issues which ben efit all the parties. Abnormal Returns of Target Banks Abnormal returns of Bidder banks In case of voluntary mergers it can be seen that the target banks have obtained higher returns that the acquirer banks. Both the acquirer and the target banks stockholders benefitted on declaration of the merger. Therefore the stock market welcomed the merger which will lead to growth and efficiency aspects of the merged entity and benefitted the shareholders of both the banks. For instance in the case of acquisition of times banks by HDFC bank it was viewed as a positive signal by the shareholders of both the bank. At the time of the merger the Times Bank was crippled with increasing NPAs and low profitability, the acquisition by the HDFC bank gave relief to the depositors of the Times Bank. On the other hand HDFC bank emerged as the largest private sector bank by gaining from the retail portfolio of the Times Bank. In case of BOM acquisition by the ICIC bank the BOM gained the advantage of being able to provide services like Treasury management, cash management services to its cu stomers and ICICI bank increased its size by acquiring BOM and reached the position of large private sector banks in 1999. At the announcement of the merger there was a steep rise in the gains which was reaped by the BOM shareholders however the stockholders of ICIC bank did not get any significant returns. In all the even study analysis revealed that neither the acquirer bank nor the target bank stock holders have perceived any potential gain on the declaration of the mergers. Hence the share holders who are important stakeholders of the banking companies did not consider the mergers as a signal of improving health, economies of scale and the market power of banks. Managers take on the Mergers Managers provide highest priority to the merger of the two public sector banks which provides a signals the banking sectors view on the need for consolidation of public sector banks. Managers do not prefer the merger of bank and NBFCs or financial services entities There are some issues which are needed to be taken care of while proposing a merger of banks according to the managers Valuation of the Loan portfolio of the target bank This is one of the main factor which is needed to be considered at the time of the merger. As in the management of the credit portfolio the accounting and the exposure norms suggested by the RBI are the same which helps in figuring out the book value of loans easily. However Indian banks have adopted divergent practices in rating the borrowers, loan pricing and maintenance of collateral securities therefore a detailed audit of the loan portfolio, cash flow generation and collaterals is very essential in order to get an opinion on the value of the loan portfolio of the target bank. Valuation of Intangible assets The valuation of the assets of the banks is a very critical factor for the success of any merger or consolidation. The tangible assets of the bank are loans, investment part apart from other fixed assets like buildings, ATMs and the IT infrastructure the bank owns. A commercial bank also holds a lot of intangible assets like clientele based on core deposits, safety value contracts, computer softwares, human resources, brands and goodwill. Determining the inherent strength of the bank based on the valuation of the intangible assets is also very important. Determination of the value of equity Determining the value of the target banks assets, liabilities and valuation of its equity value is the major aspect of a merger process. Various approaches can be used like dividend discount model, cash flow to equity model and excess return model. However banks have totally different operations than a normal manufacturing firm as they are highly leveraged because they have more than 90% of the resources as borrowed or as debt and banks are highly regulated institutions and regulatory instruction have vast implication in asset and income recognition. Interest rates volatility, regulatory capital adequacy ratios and restriction on dividend pay put ratios also have influence on the earnings of the banks. Human Resource Issues It is the most complicated issue in the merger process.HR issues like the service condition, strategy for rewarding people, employee relation, benefit plans and compensation, provision of pension, law suits and the trade union actions are very critical for the viability of the merger and the deal to go through. Cultural Issues This is also a critical issue in the pre-merger and post merger period. It is central to an organizational environment and recognizing cultural friction is very difficult as it results in various problems such as poor productivity, riff in the top management, increase in the turnover rates, delays in the integration process and failures in realizing the projected synergies. Information Technology platform integration In todayà ¢Ã¢â€š ¬Ã¢â€ž ¢s banking banks are highly dependent on the information technology. It has become a key strategic issue due to the impact it has on the operation of the bank. A significant portion of the synergy depends on the information technology integration. Divergent IT platforms and software systems have proven to be major constraints in the consolidation. Customer Retention Customers also major stakeholders of banks and are needed to be communicated properly about the merger and the customers of the target bank should be attended with utmost care. Various studies have shown that firms borrowing from target banks are very likely to lose their relationship with the bank on its merger.