IS CBT EFFECTIVE IN MANAGING SCHIZOPHRENIA Essay

IS CBT EFFECTIVE IN MANAGING SCHIZOPHRENIA - Essay Example According to the http://www.schizophrenia.com/szfacts.htm, there is no cure for schizophrenia so all talk of "treatment" or "therapy" may pertain to â€Å"management† and not actual â€Å"treatment† of the condition. In this work, we review three articles that I consider important in how cognitive behaviour therapy can be useful in the management and treatment of schizophrenia. We review three studies: Barrowclough et al. (2006), Turkington et al. (2006a) and Turkington et al. (2006b). Barrowclough et al. (2006) sought to evaluate the effectiveness of group cognitive behavioural therapy for schizophrenia. To do so, 113 people with chronic schizophrenia, the Barrowclough et al. study assigned each of the 113 people to receive either the group cognitive-behavioural therapy or the usual treatment. The primary measure employed to assess the efficacy of treatment were the positive symptom improvement on the positive and negative syndrome scales while the secondary measures w ere â€Å"secondary outcome measures† like symptoms, functioning, relapses, hopelessness and self-esteem (Barrowclough et al. 2006, p. 527). The finding of Barrowclough et al. (2006) is that there was no significant difference between the two methods of treatment. However, the individuals subjected to group cognitive-behavioural therapy have a reduction in â€Å"feelings of hopelessness and in low self-esteem.† Thus, the conclusion of the Barrowclough et al. (2006) study is that â€Å"although the group cognitive-behavioural therapy may not be the optimum treatment for reducing hallucinations and delusions, it may have important benefits, including feeling less negative about oneself and less hopeless† (p. 527). The Barrowclough et al. (2006) study exhibited adequate adherence to professional and research ethics. Perhaps, an important indication of this is that the study sought an ethical agreement with the local research ethics committee. The inclusion criteria for the study are very clear in Barrowclough et al. (2006, p. 527). One of the inclusion criteria is that informed consent from the patient was required although the study does not discuss whether the informed consent is merely verbal or written or whether the relatives or the guardians of the patients were made co-signatories in the informed consent mechanism. I believe that concurrence of relatives or guardians may be necessary because schizophrenic patients may be considered legally incompetent to respond to requests for consent (even if symptoms have not exacerbated six months prior to the study). In building cognitive behavioural therapy groups, the study built groups from the 113 individuals who were the subject of research. Those who administered the group cognitive-behavioural therapy composed another group who operated a program independent of the Barrowclough et al. research team. In the opinion of this researcher, the Barrowclough made due consideration for the welfare o f patients by putting in their inclusion criteria the requirement that the patient had one month of stabilisation if they had experienced a symptom exacerbation in the last six months (Barrowclough et al. 2006, p. 527). At the same time, however, the inclusion criterion implies that the results of the study should be qualified or that the positive benefits of the group cognitive behavioural therapy for schizophrenia, if any, apply only to that population

Processes of Communication

Processes of Communication We shall study the process and elements of communication. This will: Describe the process of communication Explain the elements of communication Describe the importance of communication process in our everyday life Introduction Communication is a process of sharing of ideas, facts, opinions and the manner by which receiver of the message shares meanings and understanding with another. The objective of any communication process is to send a set of knowledge, in the form of signs, words or visuals, to a specific destination. However, there are certain parameters which are responsible for this entire process. This lesson will focus on those essential factors which make communication process successful. Process of Communication Communication is a process that uses a set of media to transmit ideas, facts, and feelings from one person to another. For thousands of years messages were communicated through spoken voice, when the sender and the receiver were in face-to-face situation. Even today in India, oral communication seems to be a part of majority population. In face-to-face communication sender gets an immediate feedback. He then easily knows about the impact, further needs or demands of the receiver immediately. In this type of communication, the process remains limited to the sender and the receiver, where in, the channel is the spoken language. Let us take another example of a teacher teaching in a class. The teacher is using various combinations of basic forms of communication- spoken, written and visual. In the lecture, the teacher uses a black board or shows the chart. He also combines written words with spoken words. In this process, the sender becomes the teacher, the receiver becomes the students, and the channel becomes the audio-visual mode of teaching. The sender of the message selects when and what to communicate and also decides an appropriate medium for its transmission. The receiver takes the message, interprets, perceives and responds to it. The entire chain here becomes the communication process. As a process, it is routine and continues forever. Every time a person transmits the facts, ideas, opinions or feelings, another person responds in turn communicating facts, ideas, feelings or attitudes. It is a never ending process which is cyclic in nature. According to Wilbur Schramm, communication requires three things: The source The message The destination The source may be an individual speaking, nodding, gesturing or writing. The message may be in the form of sound-waves in the air, or a wave of the hand or a written letter etc. The important thing is that it should be conveyed clearly so that the receiver can interpret it easily. The destination may be an individual who is listening, watching or reading the message or it may be a group of people listening to a lecture or watching a film. Harold Lasswell suggested a convenient method of describing the process of communication. Answering the following questions holds the key to understand the act of communication. The questions are- Who? Says what? In which channel? To whom? With what effect? Suppose two persons A and B are talking on telephone. Person A:Â  Hello, how are you? Person B:Â  I am fine, thank you. How are you? When are you visiting us? Person A:Â  I am fine too. I am coming tomorrow at 6 p.m. to your place. Person B:Â  Shall I pick you up from the airport? Person A:No thanks dear, I will reach myself. Person B:Â  All right, I will wait for you. In the above conversation, ‘Person A’ initiates the discussion then he is the source. ‘Who’ therefore means communicator or the source. ‘Person A’ is communicating to ‘Person B’. ‘Person B’ is the destination or ‘whom’. If the discussion is on phone then telephone is the channel used. Whatever ‘Person A’ is conveying to ‘Person B’ becomes the message. When ‘Person B’ responds to the message it is the feedback. Let’s see the Lasswell model once again: According to David K. Berlo, the whole sequence of communicating or the communication process involves six steps. The source or the initiator of the message encodes his thoughts, ideas, desires, objectives, and a purpose for communication, which is translated into a signs, symbols or code or a language. This is performed by the encoder who is responsible of taking the ideas of the source and putting them in a code, expressing the source’s purpose in a form of a message. The receiver is the target of any communication. The receiver decodes what is being communicated to him by the sender. He interprets the message and reacts accordingly. Thus, there are a few imperative components of communication which are the unchanging and dynamic essentials. Communication bridges the gap between two or more persons (sender and receiver) through producing and receiving messages which have meaning for both. How does communication take place? Encodes Decodes Sender2. Message 3. Channel4. Receiver Decodes Encodes 6. Feedback Sender of the message, first of all conceives the message in his mind and he encodes it in symbol, painting, music etc. The message thus encoded is transmitted to the receiver through a channel. The channel can be direct face-to-face-talk, telephonic conversation or through letters etc. The receiver of the message decodes it and after understanding it gives a proper response to it. If the response goes back to the sender then it is called feedback. Because of the feedback, the sender modifies his message or mode of communication to make it more effective. For Instance, if we talk about a famous film ‘Rang De Basanti’. Here, the sender is the director of the film Rakesh Om Prakash Mehra. The message is the film itself, the channel is cinema, receiver is the audience and the feedback of the film is that it was a hit. ________________________________________________________________________________ Elements of communication The elements involved in communication process are: Sender Message Encoding Channel Receiver Decoding Feedback SENDER The sender is the communicator of the message. He is the one who transmits the message. He conceives and initiates the message. He is the one who thinks of an idea that he wants to communicate and accordingly fixes on a specific channel, to the capacity of the receiver. He transmits the message in such manner that it is easily understandable to the receiver. MESSAGE Message can be defined as a data, idea or information, spoken or written, to be passed from one person to another. It is the subject matter of communication. It may involve any fact, idea, opinion, figure, attitude or course of action, including information. Message is constructed by a set of codes that has an interpretation and an individual understanding to both sender and the receiver. The code could be verbal, non-verbal or written. A code can be defined as group of symbols that can be structured in a meaningful way. Languages are codes, which contain elements like sounds, letters, words, etc. For instance, a song is a code, which has notes, syntax, tune, rhythm etc. Any form of communication thus requires code. Thus, message exists in the mind of the sender, who selects a set of codes to encode the message according to the needs of receiver. ENCODING The process of converting the subject matter into a set of codes or symbols is called encoding. The transmission of a message from sender to the receiver requires the use of codes. Therefore, the sender plans to encode the message in a particular way, depending upon the receptive power of the receiver. The sender or the communicator constructs the message using a set of codes. These codes encode the ideas for the receiver in a specific format and thereafter are delivered to its destination in the form of a message. CHANNEL After message is encoded in a format, sender decides a channel to transmit the message. Communication channel refers to medium or media through which the message is disseminated. The channel or mode of communication should be selected by the sender in such a way that it is fully understood by the receiver. For example, if the message is a song, the channel becomes the audio medium of communication. If the message is in written forms, the channel can be in the form of letters, reports, manuals, circulars, notes, books etc. Television and films use audio-visual channels of communication. RECEIVER Receiver refers to the person to whom the message is intended. Sender of the message constructs a particular message for the receiver. The receiver decodes the message and understands it. He should be mentally and emotionally prepared to receive the message. Message should be conveyed in such a manner that the receiver is able to comprehend it fully. An effective communication can not take place without the presence of receiver. He receives, interprets, perceives, understands and acts upon the message. For example if the message is a film, the receiver is the audience. DECODING When encoded message is translated and understood by the receiver, it is called decoding. The receiver converts the symbols, words or signs received from the sender to know the meaning of the message. Decoding of the message depends on the perception and the interpretation of the receiver alone. Decoding makes the message clearer and it is converted into ordinary understandable language by the receiver. FEEDBACK On receiving the message, the reactions given by the receiver is called his feedback. Feedback is very essential in the process of communication. The continuity in communication is established only when feedback is generated. Communication is a process of action and reaction. Exchange of responses is an imperative thing in this process. Unless the sender is not aware of the response or feedback of the receiver, he cannot communicate further to make the communication effective. The sending back of knowledge about the message to the transmitter is known as feedback. For example, if the film is a message, the receiver is the audience, the feedback becomes the responses of the audience i.e. if they liked the film or not. Assignments Class Assignments Whispering Gallery Play the game ‘Whispering Gallery’. The game can be played with a group of 10-15 students. A class can be divided into three or four such groups. The game begins with a group leader whispering a message to the first member of the group, who then whispers it to the second and so on, till the message reaches the last member of the group. The leader checks to see how much the message has been changed. All groups may discuss the reasons for the transformation of the messages while they were playing the game. Write down what the game tells about the communication process. Home Assignments Draw the process of communication. Fill the following table: Summing Up Communication is often considered as an activity only. In reality, it is actually a process. The process of communication includes transmission of information, ideas, emotions, skills, and knowledge. This is done with the help of symbols, words, pictures, figures, graphs, drawings, and illustrations, etc. Again, communication is the process by which we understand and in turn try to be understood by others. It is dynamic, constantly changing and shifting in response to the overall situation. Therefore, communication can be described as the interchange of thoughts or ideas. This is also referred as sharing of meaning. The thought is conceived by the sender and reaches the receiver after going through all the steps in the ‘information transfer’ or communication process. The sender first process the thought he has received for clarity as to what exactly he wants to convey to his receiver. Once there is clarity in the message to be transmitted sender decides channel through which he wants to convey the message. When the message reaches the receiver he interprets the message and follows the same steps that were followed by the sender. Possible answers to Self-Check questions (c) We cannot communicate through gestures. Sender-Message-Channel-Receiver-Response of the receiver Sender, Message, Encoding, Channel, Decoding, Receiver, Feedback True Encoding (a) Converting message in an understandable language. Terminal Questions Explain the components of the communication process Explain Harold Lasswell’s process of communication in detail. According to Wilbur Schramm, what are the three essential things to the process of communication? Explain in detail. Suggested Further Readings 1. Communication- C.S Rayudu (Himalaya Publishing House) 2. Mass Communication in India- Kewal J. Kumar (Jaico Publications) 3. Mass Communication Theory- Denis McQuail (Sage) 4. Understanding Mass Communication- Defleur Dennis (Hougptons Mifflin Company) Keywords Source: A place from which something comes, arises, or is obtained; origin. Transmission: To send or forward something to a recipient or destination. Response: An answer or reply, as in words or in some action. Destination: The place to which a person, thing or a message travels or is sent. Feedback: A reaction or response to a particular process or activity. Receiver: A person or audience that is being informed. Channel: A medium, carrier or a method through which something is directed. Encoding: To convert a message into a form that can be received by the receiver. Decoding: To convert a message from code into ordinary language. Interpretation: An explanation of the meaning of anothers artistic or creative work; an elucidation.

The Individuals with Disability Education Act Policy Essay -- Politics

The Individuals with Disabilities Education Act (IDEA), which is a supersession of the Education of All Handicapped Children Act of 1975 is a federal law which requires states and their school districts to provide individuals with disabilities a free and appropriate education. IDEA governs how states and public agencies provide early intervention, special education and related services to more than 6.5 million eligible infants, toddlers, children and youth with disabilities. US Department Of Education (n.d.) The population that IDEA intends to effect is children between the ages of three and twenty one years of age who have a specific disability that has an adverse effect on the student’s performance. Children who qualify under IDEA are provided with services and accommodations individualized to meet their needs. IDEA entitles all children suspected of having some form of disability to an evaluation by a team and at no cost to the parents or guardians. If the child is determined to need special education and related services, an Individual Education Plan (IEP) is developed based on each child’s specific needs which are decided by both team and parents/guardians. Encyclopedia of Educational Psychology (2008) Once covered under an IEP, the students with disabilities are re-evaluated at least every three years and their IEP’s is reviewed when a change in place occurs. This is most often annually as they go from grade to grade. IDEA recognizes autism, deaf-blindness, deafness, emotional disturbance, hearing impairment, other health impairment (i.e., attention deficit hyperactivity disorder), specific learning disability, speech or language impairment, traumatic brain injury and visual impairment. An evaluation for services under I... ...EA: Policy Solutions to Improve US Special Education. Retrieved April 16, 2011, from http://www.brookings.edu/ DiNitto, D. M. (2011). Social Welfare: Politics and Public Policy (7th ed.). : Allyn & Bacon. Encyclopedia of Educational Psychology (2008). Individuals with Disabilities Education Act. Retrieved April 9, 2011, from http://www.sage-ereference.com/educationalpsychology/Article_n139.html Lloyd, PhD, C. M., & Rosman, PhD, E. (2005). Infants and Young Children. Exploring Mental Health Outcomes for Low-income Mothers of Children with Special Needs: Implications for Policy and Practice, 18(3), 186-199. National Association of Social Workers (2008). Code of Ethics. Retrieved April 16, 2011, from http://www.socialworkers.org/pubs/code/default.asp US Department Of Education (n.d.). Building the Legacy of IDEA. Retrieved April 9, 2011, from http://idea.ed.gov

Boston’s Central Artery Project Essay

Boston’s Central Artery Project undertook a massive-large scale operation to shift their highway underground. This project was named ‘The Big Dig’ due to the large scale drilling to make tunnels that could support highway like traffic and be open all year round. Due to its large scale operations, the construction required a lot of investment that could only be funded by issuing bonds. This paper describes the calculation for the bond to make it successful for the construction to be viable. Methods The case gives some important information that will help in completing this problem. The cost of the bond is given as 15 Billion while the interest rate to be charged is given as 5%. Since most bonds have a semi-annual interest payments, this bond’s value will be calculated on this value as well. What we need to find is the cost for the bond to be returned and the total interest payments over the life of the bond till its maturity. With the sum of these two figures, we will get the total cost the government has incurred on this project. After this is we just need to calculate how many cars would pass from that highway in thirty years and then we will divide the sum of the costs by the total number of cars passed in thirty years to get the exact value at which the project will break-even. Results The result from the calculations driven by dividing the total cost to be returned by the number of cars in 30 years shows that a toll price of $17. 123 should be charged to break-even the cost for the whole financing operation. Recommendations The toll price is too high if we calculate the expected life of the highway to be 30 years (same as the finance life). However, in reality the highway’s life would be much greater than 30 years. Approximately the life is expected to be 50 years at least. Considering this factor, the answer would differ and would come to be around $10. However another factor to consider would be the increase in the traffic in the future that would further reduce the price of the toll. However at the moment this price is too high and would need to be brought down to allow the motorists to travel via this route.

Mexican Immigrant Life and Americanization in the 1920’s Essay

In his book, Major Problems in Mexican American History, Zaragosa Vargas describes the Mexican Immigrant experience from 1917-1928. He begins by assessing the Protestant religious experience for a Mexican in the early 1920’s, and then describes Mexican life in both Colorado in 1924 and Chicago in 1928. After defending Mexican Immigrants in 1929, he includes an outline of an Americanization program, followed by an anecdote of a Mexican immigrant in the 1920’s. Vargas uses these documents to show the evolvement of Americanization of Mexicans from a community goal to a societal demand. Vargas begins with the Mexican Immigrant experience in the early 1920’s, and describes it mostly as a community project spearheaded by the Church and called for the aid of volunteers. The children learned and studied English in school, so the programs focused mostly on courses in English for the wives and mothers of the community. These English courses consisted mostly of vocabulary for familiar and most frequently seen objects. Sunday schools resulted from this process, and in turn made way for the development of night schools, clinics, an employment bureau, and a boys and girl’s club. In Colorado in 1924, Mexicans played a respectable role in society as not only a decent part of the population, but also the labor force. Spanish-Americans took a notable part in politics, and were involved in many occupations that included mostly agriculture, mining, and steel works. The recreation was also important to Spanish-American life in Colorado; the somewhat newly developed buildings were a source of community for many. Mexicans in Chicago in 1928, Vargas argues, lived a very different lifestyle and endured different hardships than the Mexicans in the Southwest. They were a much smaller part of the community, consisting of small, well-defined neighborhoods and several smaller less defined colonies. These Mexicans lived in the poorest houses in these neighborhoods, and most buildings guaranteed poor living conditions for these families. Employment only came certain times during the year when demand for labor was high, and it was the Mexicans who suffered most when certain industries reduced labor. In the words of Anita Edgar Jones, â€Å"They are the last to arrive and the first to be laid off† (Vargas). Mexican Life in Chicago during this time period served as a temporary solution for many families as they moved from recent arrivals to a more desirable place with better opportunity as they became more established and stabilized. Some neighborhoods were poorly organized for recreation, and even lacked Spanish-speaking employees at their community or recreation centers. Communities also lacked a Spanish-speaking priest, which is evidently different from early Americanization programs implemented in the Southwest in the early 1920’s. After addressing and defending most of the problems of Mexican Immigration in 1929, Vargas moves on to an outline of a typical Americanization program in 1931, where the Mexican Immigrant experience evolved from a community project that supported and encouraged Mexican assimilation, to a list of demands and requirements for Mexican and Spanish Americans to be acceptable members of society. Vargas uses these documents to show the progression of assimilation of Spanish Americans and Mexican immigrants into American society in the 1920’s. The life of a Mexican Immigrant during this time was very taxing, and these Americanization programs were used as a tool to attempt to create a society that operated under certain ideologies and values. As a result, this created an even stronger division between cultures, and prevented assimilation of the two groups. Work Cited Vargas, Zaragoza. â€Å"The Mexican Immigrant Experience 1917-1928. † Major Problems in Mexican American History. Thomas G. Patterson. Houghton Mifflin Company 1999. 234-53.

A Bunch of Comments

A Bunch of Comments A Bunch of Comments A Bunch of Comments By Maeve Maddox The review post about â€Å"there is† and â€Å"there are† triggered so many comments about the word bunch that I decided to give the word a post of its own. Here’s the sentence that provoked the discussion: In his arms there are a whole bunch of corn husks. Some readers defended the plural verb, suggesting that speakers often use bunch to mean many. I suppose that when bunch is used figuratively to mean â€Å"a group of people,† treating it like committee or staff makes sense. Collective nouns like these may be either singular or plural, according to whether they are thought of as a unit or as a group of individuals: The committee has approved the plans. (singular) The committee are divided in opinion. (plural) The staff is attending a retreat in the Catskills. (singular) The staff are preparing their classrooms. (plural) Our bunch is going to the races on Friday. (singular) That bunch in Washington believe they are above the law. (plural) Note: The plural constructions in these examples are all flagged by Word as needing singular verbs. The earliest OED citation for bunch shows it used with the meaning â€Å"A protuberance, especially on the body of an animal.† For example, a 1398 reference to the camels of Arabia states that they have â€Å"two bunches on the back.† A character in Shakespeare’s Richard III (c.1593) refers to hunchbacked Richard as a â€Å"poisonous bunchback’d toad.† Bunch in the sense of bundle is cited in 1505: â€Å"For thy bed, take now one bunch of straw.† At one time, a bunch was a measurement that contained a certain quantity. For example, â€Å"a bunch of reeds† was â€Å"28 inches round.† In modern usage, a bunch is â€Å"a collection or cluster of things of the same kind, either growing together (as a bunch of grapes), or fastened closely together in any way (as a bunch of flowers, a bunch of keys); also a portion of a dress gathered together in irregular folds.† (OED) One reader asked to know if there is a difference between â€Å"a bunch† and â€Å"a whole bunch.† Both mean â€Å"a lot of.† â€Å"A whole bunch† is an intensification of â€Å"a bunch.† Neither expression belongs in formal writing. Just for fun, I entered the phrases â€Å"there is a bunch† and â€Å"there are a bunch† in the Google Ngram Viewer. â€Å"There is a bunch† has the graph all to itself from 1800 to 1865, when the first â€Å"there are a bunch† makes its appearance. The plural expression remains insignificant until the 1940s, when it begins to rise in frequency. In 1984, â€Å"there are a bunch† pulls ahead of â€Å"there is a bunch† and soars ahead until 2000, which is as far as the graph goes. There’s no knowing the context that produced the results on the Ngram chart. I mention it only as a curiosity. Bottom line: When the collection referred to by the word bunch is made up of people, a plural verb does not jar. When referring to bundles of straw, grass, grapes, cornhusks and the like, pair bunch with a singular verb. Want to improve your English in five minutes a day? Get a subscription and start receiving our writing tips and exercises daily! Keep learning! Browse the Grammar category, check our popular posts, or choose a related post below:50 Redundant Phrases to AvoidEmail EtiquettePreposition Mistakes #1: Accused and Excited

Antz essays

Antz essays In the movie Antz, the producers tied many governmental issues into the story. The colony was led like a communist country, an aristocracy, and had a totalitarianism setup. Communism, for example, was a major part of the story. The government dictated the entire colony and every aspect of the ants lives. Aristocracy was another governmental issue that was part of the movie. The Queen had the final say in all issues in the colony and she had all of the wealth. The ant colony was totalitarianistic, also, for there was a big strong central government, which decided everything for the workers and military ants. General Mandible led the military with an iron fist, and led the army into a coup detat. When the coup began, the soldier ants then became juntas; soldiers involved in a coup, along with Cutter, Mandibles right hand man. The ant colony government strongly disagreed with Z and his individualism because it led other people to think for themselves instead of getting blindly led by the Queen and General Mandible. Zs individualistic views created chaos in the government. This movie showed many of the governments that are throughout the world, including old Great Britain, Russia, China, and even the United States of America. Using ants, they were also able to show how individualism belongs to everyone and that you must fight for your right to do as you please, as long as it is not hindering someone elses freedom. ...

Describing a Friend Dialogue for English Learners

Describing a Friend Dialogue for English Learners Read the dialogue and the reading selection to learn about describing both male and female friends.   My Friend My friend Rich is coming to town next week. Have you ever met my him?No, I havent.Hes kind of crazy, but a great guy.Yeah, why do you say so? Whats he like?Hes really hard working, but very much a loner. Hes pretty talented and can do just about anything.Sounds interesting. Is he married?No, he isnt.What does he look like? Maybe my friend Alice would be interested in meeting him.Hes tall, slim and quite good looking. Im sure your friend would find him attractive. Whats she like?Shes outgoing and very athletic.Really? What sports does she like playing?Shes a great tennis player and also goes bicycling a lot.What does she look like?Shes kind of exotic looking. Shes got long dark hair and piercing black eyes. People think she is rather beautiful.Do you think she would like to meet Rich?Sure! Why dont we introduce them?Great idea! Key Vocabulary to be like used for character descriptionto like doing used to state general preferenceswould like to do used to state a specific wishlook like used to speak about physical appearanceloner likes to be alone a lotoutgoing very ambitious and does lots of activitiesathletic very good at sportsexotic from a little known locationpiercing looking deeply intorather very Differences in Vocabulary Between Men and Women Youve probably learned that the adjective handsome is generally used with men  and beautiful with women. Its a general rule, but there are certainly instances in which a woman is handsome or a man is beautiful. Of course, its all in the eye of the beholder.  The same can be said for the adjective pretty which is used with women. Whereas, cute is used when referring to either sex.   This is also true when speaking about a persons character. Any adjective can be used to describe either sex, but some are more common than others. Of course, these days, many people rightly complain about such stereotypes. Still, there are preferences that lie deep in the English language. Guys and gals used to be used to refer to men and women in an informal manner. These days, its common to refer to everyone as guys. Job names have also changed over the years. Its common to change words like businessman to businesswoman or business person. Other job titles such as stewardess are no longer in use.   These changes in vocabulary is an example of how English commonly changes with the times. In fact, English is such a flexible language that its difficult to understand English from four hundred years ago, whereas other languages such as Italian have changed relatively little in comparison.   Key Vocabulary to refer to either sex be used with both male and femalestereotype a general idea, often negative, of how a particular group of people actto change with the times to make changes as the culture changesin the eye of the beholder for the person who is taking noticeto lie deep in the language to be at the roots of a language

Organisation law case study Research Paper Example | Topics and Well Written Essays - 2500 words

Organisation law case study - Research Paper Example This clearly indicates the intention of Yana and Su to promote their own company’s interests rather than the interests of Free Spirit Pty Ltd. Yana Yana is an executive director of the company. To determine whether she had fulfilled the obligations as a director, prescribed by the provisions of the Corporations Act 2001 and the common law, the following issues have been taken up for discussion. The Corporations Act 2001 requires directors to exercise due care and diligence during the discharge of their duties towards the company. This has been specified under Section 180 of this Act. Such due care entails protecting the interests of creditors and the interests of the shareholders when the company is expecting to become insolvent. This was held in the Credit Lyonnais case (Keay & Zhang, 2008, p. 142). The duties of company’s directors are specified under Sections 180 to 184 of the Corporations Act 2001 (Muscillo, 2009). Section 180 of this act protects directors who take decisions in good faith and for a proper purpose or when they reasonably believe that their decision will further the best interests of the company (Tesarsch and Tiller, 2010). It is incumbent upon directors to act solely for the bona fide purposes of a company. This was the gist of the ruling in Howard Smith Ltd v Ampol Ltd (1974). A director is liable if he relies on the information provided by others and as a result fails to notice mismanagement in the conduct of company affairs. Whenever there is an attempt to embark upon a very risky venture, directors of the company are required to be sufficiently circumspect. This was the ruling in Daniels v Anderson (1995). As such, in Australian Securities and Investments Commission v Macdonald (2009), the Supreme Court of New South Wales had to determine if a breach of duty toward their company had been committed by the officers and company directors of James Hardie Industries Ltd. In particular it was to be ascertained whether the duty o f care and diligence stipulated in Section 180(1) of the Corporations Act 2001 had been breached due to the provision of a defective media statement to the Australian Securities Exchange regarding the ability of the company to meet certain future liabilities (Hargovan, 2009, p. 986).The Supreme Court ruled that these directors and officers of the company had breached their duty of care. In addition, the court also held the company in breach of its statutory obligations under the continuous disclosure provisions. A director has to comply with the requirements of the business judgement rule in order to obtain protection under Section 180 (2). As Yana had acted in a manner that was detrimental to the interests of the company, she cannot resort to such defence. She had purchased sports equipment at a higher price from her own company, and this clearly indicates the absence of loyalty and due care on the part of Yana. She has decided to expand the business of the company, Free Spirit Pty Ltd, to Alaska without assessing the legal and financial aspects of the company in that area in the future. Yana has breached the duties of good faith and due diligence, as per the provisions of the Corporations Act. She cannot evade liability for violation of the provisions of fiduciary duties of directors under the Corporations Act and common law. As per the decided case law, she is liable for breach of fiduciary duties, due care and diligence. Su Su is the finance director of the company Free Spirit Pty Lt

International Trade Simulation Essay Example | Topics and Well Written Essays - 1000 words

International Trade Simulation - Essay Example Say for example, a country that has fertile soil and a climate that is beneficial to agriculture can specialize in agricultural products. They can export the agricultural products and import products that are products more efficiently by other countries. By using this advantage, both countries will be able to increase their wealth by specializing products they products efficiently and export them, then import the ones they don’t produce so well. The Trade Representative Office of Rodamia would like to give the Hon. Michael Jacobs, President of Rodamia, some recommendations for the scenarios in the international trade we will encounter. Lisa Drake, Chairman of the Trade Commission, gave expert advice to formulate sound international trade policies and Walter Barnes, Deputy Trade Representative, assisted in handling negotiations with neighbouring countries. Rodamia has three neighbouring countries: Uthania, Alfazia, and Suntize. And each of them has their own resource of special ization. It is also of absolute importance to know the rationale of each recommendation, its advantages and disadvantages. Understanding Opportunity Costs and the Production Possibility Frontier In the first scenario, the opportunities for trade in Uthania, Alfazia and Suntize should be explored. In this case, we need to decide which products should be exported to which country and which to be imported to which country. ... To better understand the comparative and absolute advantages of Rodamia, the opportunity costs for each product of each country are shown in the tables below: Table 1. Opportunity cost comparison for countries producing agricultural products Corn (units: 000 tons) Cheese (units: Mn Pounds) Rodamia 1 2 Uthania 1 1 Alfazia 2 3 Table 2. Opportunity cost comparison for countries producing electronics DVD Players (units: Mn pieces) Watches (units, Mn Pieces) Rodamia 2 3 Uthania 1 2 Suntize 2 5 The opportunity cost described here is the value of what is given up. Before we set to trade, it is important to understand the Production Possibility Frontier (PPF) and the opportunity cost for each decision we take. PPF measures the maximum combination of outputs you can get from a given number of inputs, For example, the PPF of corn and cheese in Rodamia shows the maximum amounts of two goods that can be produced from the given resources and technology. In Table 1, the opportunity costs for corn and cheese were presented. If you produce no cheese, then all resources can be used to produce 4000 tons of corn. For every 1 unit of corn produced in Rodamia, 2 units of cheese are equivalent. Walter Barnes discussed Rodamia’s comparative advantage that lies in corn production since it has a lower opportunity cost compared to cheese. In the scenario of corn vs. cheese, it is highly recommended to export corn and import cheese. Now the next step is to determine which country to import cheese. We can import cheese from Uthania since the cheese production has a lower opportunity cost compared to Alfazia. Though Alfazia has an absolute advantage in producing

Individual business report Coursework Example | Topics and Well Written Essays - 1500 words

Individual business report - Coursework Example In this regard, the report intends to delineate an effective business plan for Oblako to successfully establish its own independent airline service. The proposed business plan incorporates a number of effective steps and strategies that can enable the organisation to establish its sustainable position in the competitive industry. The proposed plan outlines major aims and objectives of the venture with respect to the current environment of the Ukrainian airline business industry. In order to facilitate to achieve the desired aims and objectives, the proposed plan also explores the current industry environment through the help of competitor analysis framework. Moreover, it also demonstrates an effective marketing plan along with coherent financial information that has been estimated to help in establishing long-term sustainability of Oblako Airlines in the Ukrainian aviation industry. Oblako Airlines (Oblako) has positioned itself as one of the major new players in the competitive airline industry of Ukraine. The Ukrainian airline industry is driven by a rising competitive pace as it is witnessed that there are a number of vital competitors operating in and around Ukraine which are from neighbouring countries such as Belarus, Russia, Romania, Moldova, Czech Republic, Hungary and Poland. The competition has raised due to the rising trend of the demographics especially their increasing income level. Therefore, it is highly essential for Oblako to execute a competitive strategy to cope with the rising pace in the Ukrainian airline industry. In terms of legal structure of the venture, it will be a partnership between two individuals wherein the risk and profit would be shared by both of them. The proposed business plan for Oblako would be highly focused on building a strong brand position with the aim of maintaining a competitive pricing strategy. Moreover, providing highest level of airline services along with improving

Employee Safety in Nursing Term Paper Example | Topics and Well Written Essays - 1500 words

Employee Safety in Nursing - Term Paper Example Emphasis is given on the failures of the relevant rules but also on the causes that have led to the continuous expansion of the problem. Suggestions are made for resolving the problem, or at least for controlling the further expansion of the problem. The barriers and the obstacles that the suggested measures are expected to face are also presented. It is concluded that employee safety in nursing may be difficult to be appropriately promoted; the nature of the particular profession, being related to health, seems that hides the potential risks for the sector’s employees. Also, the supportive role of nurses can be considered as opposed to dynamic contests, even for claiming rights, which are recognized by the law. The fact that nurses are at a rather low position in the organizational hierarchy is another factor preventing individuals working in the specific position to ask for the protection of their rights. The legislative texts and practices used in US for ensuring the safety of nurses are mentioned in order to show, at least indicatively, the progress made in the particular field and to explain the conditions in which such measures are likely to be developed – since suggestions are made for the increase of safety of nurses in healthcare units of various size. 2. Employee safety in nursing Employee safety is a complex concept; in nursing, the challenges faced by regulators trying to control the problem are many – mostly because of the continuous exposure of nurses to patients with various psychological problems, a fact that increases the chances for a violent event against nurses in the workplace. On the other hand, the volume of work in the specific sector is usually high; the needs and the rights of employees are often ignored due to the lack of time availability; the health problems of patients are set as a priority, an approach which can be accepted but up to a level. Employees in the healthcare sector have equal rights to health and s afety, as also the patients. The nature of their work should not be used as an excuse for ignoring the law focusing on the health and safety of employees in the particular sector. The problem is higher for nurses; their direct involvement in the treatment of many diseases on a daily basis makes their profession extremely risky – referring to the exposure of nurses to infections of various types due to the lack of adequate safety measures. On the other hand, due to the continuous development of technology, the complexity and the volume of services in healthcare sector have been increased. The health risks for nurses have been significantly increased, a fact that proves the inability of the state to develop effective rules for ensuring health and safety in nursing. It should be noted that the causes of the problem can be identified not only in the advances of technology in the health care sector but also in the increase of the number of cases handled daily. As the number of peo ple having access to healthcare services is increased, so do the risks for nurses. The continuous increase of immigrants, who are exposed to many infections due to their living conditions, is another factor threatening the health of nurses. At the same time, the training of nurses on health and safety is not always appropriate; under the pressure of time – for covering emergent needs in healthcare units across the country – the information provided to nurses regarding their health and safety

Dichomtomy During Eisenhower History p5db Essay Example | Topics and Well Written Essays - 500 words

Dichomtomy During Eisenhower History p5db - Essay Example Eisenhower perceived an international system dominated by a struggle between communist slavery and American freedom. This struggle was being fought in the Third World, an area dominated by the concept of nationalism. Communism was taking advantage of this spirit of nationalism by attempting to separate the Third World from the West, thus insuring the enslavement of those nations in which the attempt succeeded. Further complicating this struggle was the blindness of America's Western European allies to the fact that they could not retain their empires in light of this nationalism. This made it extremely difficult for the United States to protect these areas since the Third World nations, wary of U.S. allies, were suspicious of U.S. motives. Most importantly, Eisenhower believed that the United States had a moral obligation to protect these nations just as the U.S. government had a moral obligation to protect the individual liberties of its own citizens. The function of government was the same in both instances: to do for others what they could not do for themselves under the obligation of individual initiative. But how were these related to foreign policy outcomes Three examples should suffice to illustrate this relationship (Ambrose, 1999). During 1950s, America overcame terror of the World War II and renewed its economy.

Market analysis in Abu Dhabi Research Paper Example | Topics and Well Written Essays - 1250 words

Market analysis in Abu Dhabi - Research Paper Example Abu Dhabi is the biggest of all seven emirates in UAE as well as the capital of the country. The population of the city is about 1.3 million out of 3.8 million of UAE and also covers the 87% of the entire area. The city has a booming retail real estate market for residential buildings, offices other tourism places. The real estate market condition in the United Arab Emirates is, as a whole, facing a boom. It has the most secure and profitable market in whole Gulf region. Abu Dhabi is currently enjoying real estate investment from all over the world. The Abu Dhabi market possesses number of opportunities in the real state sector. It has been difficult for the authorities to meet the ever rising demand for real estate projects in the city.This paper presents an overview of economy, demographics and real estate of the retail market growth in the UAE region. It primarily illuminates the major retail real estate markets of Abu Dhabi, reflects on existing and future demand and supply, and provides recommendation for stabilization in the sector.UAE came into being as a result of alliance of seven emirates and Abu Dhabi was made the capital of the state. Abu Dhabi has supremacy in almost all fields i.e. economically and geographically etc. Abu Dhabi covers approximately 87% of total UAE area. According to a census that took place in 2005 the official population of UAE was 3.8 million approximately while the Abu Dhabi population was around 1.3 million. 300,000 people were those non-nationals who did not become a part of the census (Emirates: Abu Dhabi-Country Profile). Economy UAE is one of largest oil and gas producing countries of the World. It has 9% of oil reserves and approximately 5% of gas reserves. Abu Dhabi has the predominant share in these reserves i.e. 95% and 92% of oil and gas reserves. Like almost every Middle East country natural resources are the back bone of economy of UAE. The IMF report says that the GDP group of UAE is around 12% in 2005 and expectedly more in near future (Emirates: Abu Dhabi-Country Profile). The government of UAE, however, does not want to rely completely on oil and gas due to the fluctuation in its prices. It has been focusing on minimizing the country's economic reliance on oil and gas exports. With the government efforts and local and foreign investment in real state retail, tourism and industry the 64% of GDP now consists of non oil and gas sector. The government put huge investment and established Abu Dhabi Tourism Authority (ADTA) and that has been handled by the Tourism and Development Investment Company (TDIC) to promote tourism and real estate sector. Hence, the economy is moving towards the right dimension in the whole UAE and especially Abu Dhabi, which is undergoing rapid economic growth due to huge foreign and local investment in the country from banks and financial institutions (Emirates: Abu Dhabi-Country Profile). . Real Estate The current boom in the real state market of the United Arab Emirates took place over the last few years and has made a significant difference to the economy. The ratio of real state was 2.5% of the economy which has reached to10.5% (Walters, Kadragic and Walters 78). The real estate is one of those sectors contributing heavily to the overall economy. This huge investment reflects the government interest in the development of real estate market. The whole Gulf region is showing its keen interest in developing its economy while supporting the real estate sector. Abu Dhabi attracts abounding investment from the region in its real estate market. Al-Futtaim is going to launch project of $9.5 billion. That would take approximately 10 years to be done. The project includes residential, commercial, hotel and several office towers (Woods) REAL ESTATE RETAIL MARKET IN ABU DHABI . Abu Dhabi is a different market than any other market in the region for instance Dubai, Sharjah etc. The city is ideal because of its property market and pricing that also

Dichomtomy During Eisenhower History p5db Essay Example | Topics and Well Written Essays - 500 words

Dichomtomy During Eisenhower History p5db - Essay Example Eisenhower perceived an international system dominated by a struggle between communist slavery and American freedom. This struggle was being fought in the Third World, an area dominated by the concept of nationalism. Communism was taking advantage of this spirit of nationalism by attempting to separate the Third World from the West, thus insuring the enslavement of those nations in which the attempt succeeded. Further complicating this struggle was the blindness of America's Western European allies to the fact that they could not retain their empires in light of this nationalism. This made it extremely difficult for the United States to protect these areas since the Third World nations, wary of U.S. allies, were suspicious of U.S. motives. Most importantly, Eisenhower believed that the United States had a moral obligation to protect these nations just as the U.S. government had a moral obligation to protect the individual liberties of its own citizens. The function of government was the same in both instances: to do for others what they could not do for themselves under the obligation of individual initiative. But how were these related to foreign policy outcomes Three examples should suffice to illustrate this relationship (Ambrose, 1999). During 1950s, America overcame terror of the World War II and renewed its economy.

Managing and Working in a Virtual team Case Study

Managing and Working in a Virtual team - Case Study Example gain and maintain the trust of his or her charges, they must understand that trust depends on reliability, in virtual relations because there is usually limited personal interaction between members of a team. This eliminates chances of meeting and evaluating an individual’s potential or level of reliability. The only means to achieve this is to make sure that, as a team leader, you show team members that you are a reliable person by delivering on your responsibilities in time and in a competent manner, which serves as an example to the rest of the team. This will demonstrate to the members the level of quality of work expected of them, and this makes the team members respect and trust their virtual team leader (Lepsinger & DeRosa, 2010). Team leaders should establish guidelines in communication, which account for the differences in time zones, cultural and geographical variations between members. They can also specify the type of medium to be used when communicating to help av oid incompatibility and confusion when a meeting is about to begin. When considering how to enhance communication efficiency in a virtual team, a leader can consider creating team agreements on how and when to communicate across different time zones, team leader visits to the different members which helps establish engagements and trust by meeting the team leader face to face. A leader in a globally diversified team should formalize roles and duties of each team member starting with their own because this is the only way to ensure that the members have a clearly defined direction, which removes ambiguity in the roles that each member plays (Lepsinger & DeRosa, 2010). Staff changes on a virtual team can happen at any stage in the execution of a project, and how fast and effectively a new member is recruited and integrated into the team determines the successful completion of the project (Lepsinger & DeRosa, 2010). Integrating a new member, in the team, requires that the individual be

Effective Appraisal Methods Undertaken By Companies Commerce Essay

Effective Appraisal Methods Undertaken By Companies Commerce Essay With the increase of globalisation and new technologies of information and communication, businesses are facing more challenges than before. Furthermore, people are moving from their own country to relocate elsewhere. This give more difficulties to businesses to understand not only their customers, but also their workforces as they are coming from different part of the world and might have different way of thinking and acting. An organisation is a group of people working together in order to achieve the goals and objective that have been set. Therefore managing those people effectively and efficiency must be a company primary focus. This research is based on the type of performance appraisal that a company should be used in order to evaluate correctly its workforce. In order words, there are many different methods such as: 360 degree feedback systems, critical incidents, forced distribution, self-evaluation, essay evaluation, behavioural observation scales and management by objectives. These methods can be divided into two categories: past-oriented methods and future-oriented methods Statement of the problem Human Resource Management is the management of the human capital, workforce within an organisation. It has many functions which are: recruitment and selection, training and development, performance appraisals and employees promotion. M. Armstrong define it as: a strategic and coherent approach to the management of an organisations most values assets- the people working there who individually and collectively contribute to the achievement of its objectives (G. Armstrong, 2006, P.3). As people make an organisation, it is important for managers to deal with their personnel enquiries effectively. Evaluate or conducting performance appraisal on employee is also very important and it is one of Human Resource Management functions. There are no standard performance evaluation methods; companies chose the method that satisfies their needs and requirement. A method is chosen according the nature and the culture of the business. Also it is important to say that each method have both advantages and disadvantages and must be analysed carefully before taken into practice. Aims and objectives of the study In order to carry out properly, accurately and normally this research, it is crucial and important to point out it aims and objectives. The research aims are: The first objective of this research is to underline the importance of performance appraisal within an organization. Why Human Resource Managers conduct or evaluate their employees. What is the reason why employees should be evaluated after a certain period of time? What is the main purpose of employee evaluation? Is employee performance related to his/her pay? Or is it because the company just want to know who is performing very well and who is not? Also has the business notice that performance appraisal lead to a kind of motivation factor for its workforce? Because some employees would like to be rewarded whenever they think they are doing a good job. The second objective of this research is to find out which performance appraisal method is undertaken by PEABODY and why have they chosen that particular method Thirdly, it is also essential to notice that performance appraisal do not only matter for the organization but also influence employees. Therefore whenever a company evaluate their employees how do they do it? Which evaluation process to do take to appraise them? Are employees getting feedback on their performance? Finally, what strategy is used by human resource manager for employees with good and poor performance appraisal? LITERATURE REVIEW According to G. Dessler, performance appraisal can be defined as: the process of evaluating an employees current and/or past performance relative to his or her performance standards. (G. Dessler, 2008, P.336). In other words, performance appraisal helps the management to identify and evaluate their employees strengths and weaknesses. As result of conducting performance appraisal by an organization, managers will be able to adopt the best suitable motivation method. For example: if an employee feedback is positive, managers should motivate or reward him because they want him to keep having good performance in the future. M. Foot C. Hook added: Managers conduct performance appraisal for variety of reason such as: improve current performance, identify training needs, to award salary increases, to increase motivation [] (M. Foot C. Hook, 2005 P.268). It can also be seen as a motivation factors when employees have the feedback on their appraisal. Managers should take different strategies with employees who have poor performance. For example they can b e sent for training and development. But before doing so, the Human resource manager should identify the reason why they have poor performance. Figure 2 explains the steps and procedures to follow when dealing with poor performance. (S. Gilmore S. William, 2009, P.247). Performance appraisal is directly link with employees training and development because when it has been conducted that an employer might be able to identify whether if their employees have to go for a training program or not. Additionally, some employees are paid depending on their performance especially those who work in the marketing department. Therefore, the company must carry out performance appraisal after a certain period of time. (G. Dessler, 2008, P.339). Furthermore, for a company to achieve their goals and objectives, each and every worker in the organization should achieve their own target. DIFFERENT TYPE OF PERFORMANCE APPRAISAL There many different types of performance appraisal such as 360 degree appraisal, forced distribution method, self-appraisal, rating scales method, critical incident method, ranking method, essay method and management by objective. 360-Degree Feedback Systems Armstrong stated: 360-degree feedback is also known as multi source assessment, is a process in which someones performance is assessed and feedback is given by number of people who may include their manager, subordinates, colleagues and customers (Armstrong, 2009, P.644). This assessment method is done by different persons in order to reduce or eliminate judgmental decision and bias. As an employee performance needs to be looked in a wider aspect, internal assessment done by managers only will not be as accurate as possible. This method is useful when appraising employees who work in call centres, receptionists and customer service. Where pass the majority of their working time dealing the customer enquiries. It is also a combination of different sources of performance appraisal information to create many different evaluator or 360-degree appraisal and feedback system. Jobs are multifaceted, and different people see different things. As the name implies, 360-Degree feedback is intended to provide employees with as accurate a view of their perf ormance. As all others methods of appraising workers performance, this method has both advantages and disadvantages. Advantages 360-degree feedback has many advantages such as: firstly, it looks at the employee performance from different point of view. It includes collecting multiple perspective of managers performance by allowing employees to compare their own personal evaluation with others people point of view. (R. Noe et al, 2003, P.388). Secondly, Armstrong argued that it increases awareness by senior management that they too have development needs. Sometimes managers and board director believe that they know everything and therefore do not need to be appraised on their performance. (Armstrong, 2009, P.646). This frequently happens in organization where autocratic management style is adopted which stipule that managers are always right employees should always follow without any suggestions. Finally, feedback receive are more reliable and objective, therefore adequate actions can be undertaken. (Armstrong, 2009, P.646) Disadvantages According to Armstrong, people are not always honest and therefore wrong analysis can be made by managers. Also, people mind can change time to time. J. Ivancevich added that: providing constructive feedback require a plan and well-trained rater. And this is not typically found in organization. (J. Ivancevich, 2007, P.260). However some has strategies to make sure that 360 work as effectively as possible. For instance: to encourage participation in its customer performance appraisal process, Xerox business services plant a tree for each customer who return a completed form. (Jackson et al, 2009 P. 334). The introduction of 360-degree feedback in place where pre-evaluation had not been conducted can be very dangerous. For instance: in place where there is low level of trust and high level of competition. When conducting your 360-degree, customers might not give their real opinion about an employee performance. Furthermore, this can also lead to an increase in bias. If an employee is assessed by customers who are friends and/or family, t hey might rate the employee according to their personal feeling rather than the employees performance. Another disadvantage of 360-degree feedback is that, it does involve too much bureaucracy as everyone will be asked to assess the particular employee. Therefore this may require lots of time. Additionally, conducted performance appraisal is not enough but taking effective decision after having performance appraisal result is very important. Lack of feedback may de-motivate employees to take another one next time. Moreover, they need to know what are their strengths and weakness. This is the reason why some companies conduct self-assessment method of performance appraisal. Forced Distribution G. Dessler says: The forced distribution method is similar to grading on a curve; predetermined percentages of rates are placed in various performance categories. (G. Dessler, 2008, P.345). Most of the time, companies divide it into three where there is the first category w here companys best employees are placed, then the second category where the second best in located and finally the last category where usually poor performance is found.(Jackson et al, 2009 P. 335). Those who fall in the first group are encouraged continuing with great performance with some options available. Employees in the second group category are also encouraged to increase their potentiality in order to reach the top first group and can get some bonuses or promotion relative to their performance. But those in the group are not given any kind of bonuses. This is where the management will look at the various reasons why there is poor performance and may decide whether training needs to be undertaken or not. Some managers will give a warning if poor performance continues and others may even be harsher and fired. Jackson et al added: In this method, the appraiser distributes employees across several categories of performance following a set rule about the distribution of rating that are permitted. (Jackson et al, P. 335) Self-Appraisal Self-appraisal method is the form of performance appraisal technique where employees appraise their own performance. Before adopting this method, HR manager should make sure that their employees understand their objectives and the criteria used for evaluation. (Mondy, 2008, P.251). This method prone the fact that only the employee is able to know what he/she does well and what he/she is lacking and need to be improved. J. Beardwell and T. Claydon added: self-assessment is the only way to give a complete picture of the performance of the employees and to avoid a criticise-defend scenario (J. Beardwell T. Claydon, 2007, P.512). Furthermore, this method require the employee to have a good knowledge of the job requirement and role so that he/she will easily identify the gap between what he is doing and what he is require to do. METHODOLOGY In order to carry out the aim of this project, it is essential to build a very good research methodology. This will include the framework that will be used in order to answer the question. Knowing what the different types of performance appraisal are, research methodology will elaborate all the different methods that will be used to collect as much information as possible relating to the topic Research Methods The aim of the project is to find out what performance appraisal method should be undertaken by company to evaluate with effectiveness and accuracy their workforce, therefore qualitative and quantitative research will be useful to conduct the project efficiently. Quantitative research is mostly used when question beginning by how many are often used. Quantitative analysis deals with the numbers and uses mathematical operations to investigate the properties of data. (N. Walliman, 2006, P.113). As compared to qualitative research, quantitative researches develop technique that produce quantitative data and which can be classified easily. Qualitative research on the other hand is a method which leads to the collection of qualitative data which are data that cannot be quantified. Qualitative research usually answer question such as: what do think about? What is your opinion about one particular product? Qualitative research deals with feeling, attitudes, opinions and ideas. It is very difficult to analyse as people might change mind or opinion time to time. J. Creswell added by saying that: qualitative research begins with assumptions. A worldview, the possible use of a theoretical lens, and the study of research problem inquiring into the meaning individuals or groups ascribe to a social or human problem. (J. Creswell, 2007, P.37) Data collection The data will be collected using many sources of data collection. Secondary data collection such as: books, magazine, articles and academic journals will be used to gather much information as far as performance appraisal is concerned. Although secondary data are often books and journals, it is important to note that this source also entails non-written materials such as: voice and video recordings, pictures, drawings, films and television programmes. (M. Saunders et al, 2007, P.248). Any kind of secondary materials on performance appraisal and human resource management related to the research question will be used for the project. Primary data collection such as: questionnaire, interviews and observation will be adopted to collect information. Those data are not available on books and are more reliable than secondary data. In order to collect primary data, questionnaire will be designed and given to one HR manager and two assistant at PEABODY. The questionnaire will carry some useful questions such as: are you conducting performance appraisal on your employees? What is the importance of doing it? Which performance appraisal method have you used or are you using at the moment? What are the reasons why that method was chosen? After appraising your employees do you give them feedback on their performance? What step or strategy do you adopt with poor performance and good performance employees? Interviews will also be done to some workers in order to have an overall picture of the topic. Data analysis Data will be analysed by looking at the findings from all those different sources of data collection. Primary data analysis will be compared to the literature review in order to know if what is written in the books is followed by organisations. Findings might be presented as graph, diagrams or charts. GANTT CHART Time Activities April May June July 15th 30th 15th 30th 15th 30th 15th Introduction Literature review Research Methodology Primary Data collection Data analysis Conclusion

Essay --

â€Å" Many risks come along with big bonuses† The burst of the housing bubble in the US caused the collapse of financial institutions and the bailed out of banks by governmental institutions resulting in the 2008 financial crisis. One of these banks was the Royal Bank of Scotland who ran out of money. Bankers were blamed for acting out of self-interest and making risky decisions. These failures will be analysed in this essay by giving answer to the following question: â€Å"How did agency theory contributed to the 2007 financial crisis?† Introductory, agency theory discusses the relationship in which one party, the principal, delegates work to another, the agent (Eisenhardt, 1989). The core idea behind agency theory is to through contracting align the interest of shareholders (principal) with that of the managers (agents) in order to maximize shareholders value. Thus, the decision-making is being separated from the party who bears the risk; therefore, problems can arise. Firstly, the principal cannot verify whether the agent has behaved appropriately (the agent and principal have partly di...

The Character of Iago in Shakespeares Othello Essay -- GCSE Coursewor

The Character of Iago in Othello   Ã‚  Ã‚  Ã‚   In the play Othello, the character Iago plays a paramount role in the destruction of Othello and all of those around him.   Some critics state that Iago's actions are motiveless and that he is a purely evil character.   However, during the course of this paper, certain motives for Iago's actions will be discussed.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   For the first motive to be understood the reader must become knowledgeable of Othello's heritage and the setting of the play.   Othello is a Moslem from North Africa.   He is living in Venice.   He is the leader of the Venetian forces.   Anthony Burgess, a Shakespearean critic, believes that Othello's color has nothing to do with Iago's actions.      "Othello's color had no connotations of the enslavable inferiority.   There were many great Negroes in those days like that Antonio de Vunth, who was King of Congo's ambassador to the Holy See."(Shakespeare, pp.200)      Ã‚  Ã‚   There may have been many great Negroes around in those days but there were none in Venice.   Othello was the only member of his race in Venice.   Many of the people who lived in Venice had never seen a Moor.   To the people of Venice, Moors were different and feared, they were seen as an evil spirit.   Some people thought that they were witches or devils that walked the earth.   Included in a text written by Stephen Greenblatt, Roderigo and Barbanizo believed that "Othello used magic to win Desdemona."(Norton Shakespeare, pp. 2091).   You also see many references in the play where a character will refer to Othello as being a devil or beast.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   It was no secret to the reader of the play that Iago possessed a hatred for Othello.   In fact, in act one of the plays the reader s... ...nced by motives and he was not just evil.   There must be motive to spark evil and in Iago's case the fact that he was losing what seemed to be respect and accountability from the people of Venice and his friends, drove him to hate.    Works Cited and Consulted Bayley, John. Shakespeare and Tragedy. Boston: Routledge & Kegan Paul Ltd., 1981. Bradley, A. C.. Shakespearean Tragedy. New York: Penguin, 1991. Campbell, Lily B. Shakespeare's Tragic Heroes. New York: Barnes and Noble, Inc., 1970. Di Yanni, Robert. "Character Revealed Through Dialogue." Readings on The Tragedies. Ed. Clarice Swisher. San Diego: Greenhaven Press, 1996. Reprint from Literature. N. p.: Random House, 1986. Shakespeare, William. Othello. In The Electric Shakespeare. Princeton University. 1996. http://www.eiu.edu/~multilit/studyabroad/othello/othello_all.html No line nos.

Curriculum Theory Essay

Historical accounts of public education reaching back into the nineteenth century reveal successive waves of polarization of view points, limited approaches to curriculum development, and recurring upsurges of dissatisfaction with school offerings. Curriculum development activities in the past show a seeming lack of rigorous, systematic thinking about curriculum development and give insight into the attic thinking about curriculum development and give insight into the need for an adequate theory of curriculum development. Without an inclusive theory of curriculum theory, child-centered, society-centered, subject-centered, and other approaches of limited dimensions will continue to compete with each other as exclusive routes to curriculum planning. Evidence of a long succession of limited approaches to curriculum development may be found in historical literature. In the colonial era, free public schooling had not yet been conceived. The prevailing concept at that time, borrowed from European schools, was that education was for the elite-a view that haunted public education in one way or another for generations. Traditional Theory The American Revolution added new power to the emerging spirit of democracy and focused new attention on schools and education. The colonial view that formal schooling was only for the upper classes came into question, and public schooling was introduced in this country. Its expressed purpose is in the poster evolutionary period were to inculcate moral standards by transmitting the traditional culture — a job previously. American culture out of the diverse cultures brought here by immigrants from many countries. Although educators viewed the Dewey (1916) concept as desirable, they disagreed on how to carry it out in practice. To some it meant a school without structure or predetermined objectives and content. Harold Rugg viewed such superficial interpretations with alarm in 1926 and urged educators to realize that curriculum-making is a complex, highly specialized task that must be the cooperative endeavor of many minds. Despite its varied interpretations, the Dewey (1916) concept brought an upsurge of curriculum development in the 1920s and 1930s that moved away from traditional classicism and toward emphasis on the needs of the individual and of society. Dewey (1916) finds that, when pupils are a â€Å"traditional† class rather than a social group, the teacher acts largely from the outside and not as a director of processes of exchange in which all have a share. In Dewey’s (1916) view, when education is based on experience and educative experience is seen to be a social process, the situation changes radically. Planning, in their view, is the structuring of a living situation with a wide range of educative alternatives. The transactions that take place within this structure cannot be planned in the traditional manner. They are more in the nature of â€Å"planned accidents† . . . . The curriculum is the cultural environment which has been selected as a set of possibilities for learning transactions (Dewey, 1916) When a range of educational alternatives is available, the principle of choice becomes an essential consideration in planning for freedom. The preceding discussion gives numerous examples of needs assessment procedures that encompass far broader concepts of needs than the traditional expert-determined or producer-determined needs or the narrow definition of needs that arises from comparison of student achievement scores with national norms on standardized tests. The examples given here include psychological needs as well as educational needs and describe ongoing procedures in various parts of the country in which individuals and groups directly concerned with a curriculum development process are also involved in identifying the needs that curriculum and instruction should meet. Structure of Disciplines Theory The work of Jerome Bruner (1960) and others emphasized the â€Å"structure of the disciplines† as a basis for curriculum design. Burner called attention to the general usefulness of structure within a discipline as an organizing principle, but he did not set forth a comprehensive curriculum development theory. Hilda Taba ( 1962) noted that the either/or practice still prevailed and that, while in the 1930s the cry was for attention to the child, in the 1950s the battle was to reintroduce disciplined content, with the problem of balance still unresolved. James Macdonald (1971) observed that the â€Å"curriculum reform movement† of the 1950s and 1960s was in no real sense a movement, because its separate parts were never really related or coordinated. Rather, it was a historical accident — a combination of Sputnik, McCarthyism, interested professors, federal money, and the ambitions of commercial publishers. Structure identifies order or sequence or notes that order is immaterial. Structure for an individual may develop from his or her interests and motivations, when a range of alternatives is available. Jerome Bruner’s widely publicized statement in The Process of Education (1960) that anything worth teaching can be taught in some intellectually honest way at any level has conveyed the impression to a wide audience that there is some definite pattern of construction or organization of the subject matter of the separate disciplines that should be known by curriculum-makers and used in sequencing information to impart it to children in an efficient and effective way. This point of view influenced the curriculum â€Å"reforms† of the 1960s, which did not in actuality reform curriculum. John Dewey (1916) would probably not have advocated a rigid or set structure as an intellectually honest way to introduce children to life and experience. Knowledge, of course, must be integrated to be meaningful, and curriculum structure can be constructed not only within the separate disciples but also across disciplines or interdisciplinary areas of social, cultural, or personal interest. As a system of ideas and beliefs, it includes aspects of the cognitive world isolated by disciplines and/or subjects in terms of facts, information, generalizations, principles, laws, and the like. . . . Cultural systems are substantive aspects of social and personality systems and evolve in a constant interaction shaped and influenced by the dynamics of structures and actions in . . . culture, society, and personality (Macdonald 1971). George Counts (1952) maintained that the responsibilities of the school included curriculum development directed toward constructive modification and development of the nation’s economy, social structure, cultural institutions, and outlook on the world. Curriculum development should lead toward creating as well as transmitting culture, meeting and maintaining democratic social relationships, and increasing individual self-realization, Counts asserted. The scope of available culture is almost limitless. It involves societal conditions, knowledge from the academic disciplines, professional knowledge about learning and educative processes, philosophical and value bases, futures research, realities in the classroom, pluralistic ethnic backgrounds of the participants, and their needs and desires. Behavioral Theory A dominant influence on curriculum development since the early1950s has been the Tyler rationale, set forth in Ralph Tyler Basic Principles of Curriculum and Instruction (1950). Tyler’s frequently credited with providing impetus for the behavioral objectives movement of recent years. Its advocate proposition is that instructional goals be stated in behavioral terms, with built-in criteria for measurement of outcomes. Selections are then made from alternative activities expected to help the student attain the desired behavioral objectives. Scope and sequence decisions follow, and evaluation is carried out. Various interpretations of this approach have led to highly technical procedures to develop a preplanned program of behavioral objectives closely tied to subsequent measures of achievement. Behavioral and other models adapted from Tyler seem to over- emphasize educational need and underestimate psychological need. Although Tyler was cognizant of the latter and referred to two types of need, he gave psychological need no more than a nod of recognition (Tyler, 1950): The inclusion of psychological need in curriculum development is advocated by those who fear that overemphasis on behavioral objectives, academic achievement, and grading may develop negativism among students toward school learning. Academic objectives retain their importance, but these planners also stress the importance of psychological processes, human relations, positive mental health, and student involvement in setting goals, selecting options, learning how to work toward goals, and developing persistence in spite of occasional failures. Arthur Combs (1972), taking a strong position, outlines the hazards of accountability programs that focus almost exclusively on test scores of detailed behavioral objectives. A truly comprehensive approach to accountability, he says, must consider at least five major problems related to curriculum and instruction: 1. Basic skills. Specific, atomistic behavioral objectives can be applied successfully only to simple skills and problems for which they are appropriate and must be constantly updated. The information explosion and rapidity of change make â€Å"right† behaviors rapidly obsolete. 2. Intelligence and holistic behavior. Accountability must contribute maximally to intelligent behavior and problem-solving action directed toward fulfillment of the individual’s and society’s needs. 3. The nature of learning and the causes of behavior. Attention should be concentrated on the causes of behavior rather than on behavior itself. Personal meanings are the causes of behavior, and these are formed through two aspects of learning: the provision of new information or experience, and the discovery by the learner of its personal meaning for him. 4. Humanistic goals of education. Developing humane qualities, self-actualization of the individual, good citizenship, learning to care for others, and working together are all aspects of humanism for which schools must be accountable. â€Å"We can live with a bad reader,† says Combs, â€Å"but a bigot is a danger to everyone,† (Combs, 1972) 5. Professional accountability. Teachers can and should be held accountable for professional behavior: being informed in subject matter, being concerned about the welfare of students, being knowledgeable about their behavior, and understanding human behavior in general. Professional educators may be held professionally responsible for the purposes they seek to carry out and the methods they use. Constructivist Theory Outside the fortress of elitism’ in secondary education, political, social, and educational leaders began to awaken to the broader responsibilities of the schools and to look to the public schools for constructive approaches to the public’s needs and problems. Mark Chesler, a frequent observer and consultant in disrupted schools, gained some insights into procedures that seem to hold promise for constructive change. In â€Å"School Crisis and Change† ( 1970), he asserts that when school officials sought only superficial techniques for reestablishing the status quo, stress and turmoil were more likely to continue. When collaborative decision-making procedures were instituted among students, community people, school executives, and faculty, meaningful and positive curriculum improvements began to takes place. A statewide assessment of the Michigan plan, conducted by Ernest House, Wendell Rivers, and Daniel Stufflebeam (1974), reflected general support of the accountability process in principle but was highly critical of the implementation of the plan in Michigan. The evaluators pointed out that attention had been limited mainly to reading and arithmetic at two grade levels, that no constructive purpose had been gained by ranking schools on norm-referenced tests, and that the promise of providing needs assessment in relation to the full scope of goals had not been pursued. It is obvious that curriculum development must be a responsive process, constantly extending, expanding, and revising the curriculum. This requires continuous planning of learning outcomes that will help individuals draw effectively on growing realms of knowledge, develop new skills in a rapidly changing world, and develop insights into and constructive approaches to unresolved problems. The process of curriculum development must continue to be responsive to needs and problems and to generate alternative means for reaching desirable ends George Counts (1952) maintained that the responsibilities of the school included curriculum development directed toward constructive modification and development of the nation’s economy, social structure, cultural institutions, and outlook on the world. Curriculum development should lead toward creating as well as transmitting culture, meeting and maintaining democratic social relationships, and increasing individual self-realization, Counts asserted. Research studies have found that very young as well as older students formed important and serious work groups to discuss, plan, and carry out activities in cooperation with adults. In the cases reported, the schools provided constructive learning situations in which children were involved in forging their own roles, working out relationships, and assuming responsibility for self-evaluation. In these situations the teacher acted as guide and resource rather than a not- to-be-questioned authority, critic, and judge. A systems approach is an analytic rather than an erratic approach. It requires planning and action to be accomplished in a manner that allows participants to revise the plans, as action and experience proceed, and incorporate constructive improvements. A systems approach requires initiative and commitment. Curriculum-planners using a systems approach must be ready to document and make public exactly what they are doing, why they are doing it, and how the curriculum is being developed. The participants and consumers must evaluate the curriculum development effort so that it can be continually improved. Experiential Theory Active critics and reformers on the contemporary scene can be classified roughly into three categories. One includes those who focus on individual freedom in learning. They are sometimes termed the â€Å"romantics† or â€Å"radicals,† and they advocate free schools or the elimination of schools as they now exist. The free school movement can be traced to the publication of A. S. Neill’s Summerhill in 1960 and became manifested in various types of â€Å"free schools,† emphasizing experiential learning that places the highest priority on the â€Å"self† of the individual. Advocates of de schooling see hope in a network of opportunities for incidental education through which each child can discover itself and pursue his or her particular interests in special ways. In Kohlberg’s (1972) studies the main experiential determinants or causal factors in moral development seem to be the amount and variety of the child’s social experience and the opportunities he or she has had to assume a number of roles and to take other perspectives into account. Being able to put oneself in another’s place is a source of principles; for example, when parents sought their children’s views and elicited comparisons of views in dialogues, the children reached more advanced stages of moral development. Roger Pillet (1971) asserts that researchers have perpetuated a separation of experiential theory and practice. He lists as shortcomings (1) the locus of the leadership function in curriculum development that is external to the teachers, administrators, parents, and students who are expected to become users; (2) the negation of reality that occurs when new programs are designed on paper without regard to the knowledge and experience of the learners and educators who are expected to become the users; and (3) the use of abstract language that reduces the possibility of communication among those involved in various aspects of curriculum development. References Bruner Jerome S. The Process of Education. Cambridge: Harvard University Press, 1960. Chesler Mark A. â€Å"School Crisis and Change†. In Student Unrest: Threat or Promise? edited by Richard L. Hart and J. Galen Saylor, pp. 100-21. Washington, D. C. : Association for Supervision and Curriculum Development. 1970. Combs Arthur W. Educational Accountability. Beyond Behavioral Objectives, Washington, D. C. : Association for Supervision and Curriculum Development, 1972. Counts George S. Education and American Civilization. New York: Bureau of Publications, Teachers College University, 1952. Dewey John. Democracy and Education. New York: Macmillan, 1916. pp. 17 House Ernest R. ; Rivers Wendell; and Stufflebeam Daniel L. â€Å"An Assessment of the Michigan Accountability System†. Phi Delta Kappan 55 (June 1974): 663-69. Kohlberg Lawrence. â€Å"Moral Education in the Schools: A Developmental View†. In Curriculum and the Cultural Revolution, edited by David E. Purpel and Maurice Belanger, pp. 455-78, Berkeley: McCutchan, 1972. Macdonald James B. â€Å"Curriculum Development in Relation to Social and Intellectual Systems†, In The Curriculum: Retrospect and Prospect, part I, pp. 97-98. Seventieth Yearbook of the National Society for the Study of Education, Chicago: University of Chicago Press, 1971. Pillet Roger A. â€Å"Boundaries of a Curriculum Network†, In Elements of Curriculum Development, pp. 7-11, Monograph supplement of Curriculum Theory Network. Toronto: Ontario Institute for Studies in Education, 1971. Taba Hilda. Curriculum Development: Theory and Practice. New York: Harcorut, Brace and World, 1962. Tyler Ralph W. Basic Principles of Curriculum and Instruction, Chicago: University of Chicago Press, 1950. pp. 7-8

Banking Formalities

BANKING FORMALITIES : SUCH AS NEGOTIATION OF DOCUMENTS Negotiation means the standard procedures that bank performs which includes checking of the documents and giving value to the seller. The issuing bank may issue the LC available by negotiation with a nominated bank or it may allow the LC to be freely negotiated with any bank. In the first case, the beneficiary, that is the seller, has to present the documents only to that bank, which is the nominated bank.Nevertheless, the nominated bank is not bound to negotiate if it has not undertaken a separate payment obligation to the seller. The nominated bank may simply refuse to negotiate the documents drawn under the LC. This is because, by having been nominated by the issuing bank, it does not constitute and undertaking to negotiate. If, however, the nominated bank has added its confirmation to the LC at the request of the issuing bank, thereby undertaking a separate payment obligation to the seller, then it has to honour its undertak ing and pay for the documents drawn under the LC if they are in order (Article 9b).LC which does not nominate any bank is normally available for negotiation with any bank in the country of the seller which is willing to negotiate the documents. For the information of all traders, there are 4 types of negotiation practiced by banks around the world. They are: 1. Negotiation without recourse 2. Negotiation with recourse 3. Negotiation against indemnity 4. Negotiation under reserve Let me explain Negotiation without recourse first and the rest at a later posting.A seller may present his documents drawn under LC directly to either a) The issuing Bank (bank that issues the LC) or b) The confirming bank (bank that adds its confirmation at the request of the issuing bank) or c) To his own bank If the seller chooses to present the documents directly either to the ISSUING BANK or to the CONFIRMING BANK, these banks make payment WITHOUT RECOURSE to him. Meaning, the payment that has been paid to the seller shall not in any way become claimable by these banks in the event the documents are found not in order after making such payment.These banks cannot have recourse to the seller because by issuing or confirming the LC, they have taken upon themselves the risk that the party from whom reimbursement is to be obtained may become insolvent. I hope this would give traders a general idea of how the LC operates and the implications to buyer and seller. BANKING FORMALITIES :OBTAINING PACKING CREDIT AND POST SHIPMENT FINANCE Packing Credit : Overview Packing credit is a loan/ cash credit facility sanctioned to an exporter in the Pre-Shipment stage.This loan facilitates the exporter to purchase raw materials at competitive rates and manufacture or produce goods according to the requirement of the buyer and organize to have it packed for onward export.. The lending institutions seek a Letter of Credit opened in favour of the exporter from the overseas buyer along with the irrevoca ble (cannot be canceled once drawn) Purchase Order favouring the exporter. Packing Credit facility will cover all the working capital needs of the exporter including raw materials, wages, packing costs and all pre-shipment costs.Packing credit is available for generally a period of 90 days and the exporter has to pay lower rate of interest compared to traditional Overdraft or Cash Credit facility. Exporters use this facility so they can bid the most competitive price for export thus gaining more business opportunities for export. Packing Credit : Documents The borrower and/or the guarantors have to provide the following documents to the banks or the lending institutions while submitting Packing credit Application. Certain documents may be demanded by the bank or the lending institutions in post sanction phase or on periodical basis. Address Proof : Latest Electricity/Telephone Bill or Receipt of Maintenance Charges or Valid Passport or Voter’s Identity Card or Purchase/Lease Deed/ Leave & License Agreement of Residence or Office Premises. * Identity Proof : Valid Passport, PAN Card, Voter’s Card, Any other photo identification issued by Government Agencies. * Business Proof : VAT/CST Registration No. or MIDC Agreement or SSI Permanent Registration Certificate or Warehouse Receipts or Shop & Establishment Act Certificate or Copy of Lease Agreement along with the latest Rent paid Receipt. * Business Profile on Company’s Letterhead. Partnership deed in case of partnership firms. * Certificate of incorporation, Date of Commencement of Business and Memorandum of Title Deeds, Form 32 in for Addition or Deletion of Directors in case of companies. * Last three years Trading, Profit & Loss A/c. and Balance Sheets (duly signed by a Chartered Accountant wherever applicable). * Last one years’ Bank statement of the Firm. * If existing loan, then sanctioning letter and repayment schedule of the same. * Firm/Company’s PAN Cards. * Individu al Income Tax Returns of the Individual/Partners/Directors for last three years. Last one years’ Bank statement of Individuals, Partners, Directors . * SEBI formalities in case of listed companies. * Share Holding pattern of Directors duly certified by a Chartered Accountant. * List of the Existing Directors of the company from the Registrar of the Companies. Packing Credit : Process 1. Personal interview /discussions is held with the customers by the bank’s officials. 2. Bank's Field Investigation team visits the business place/work place of the applicant. (All the documents submitted are verified by the bank with the originals so as to ensure the authenticity of the same. 3. Bank verifies the track record of the applicant with the common information sharing bureau (CIBIL). 4. In case of fresh projects the bank analyses the back ground of the applicant/firm/company and the Technical feasibility/financial viability of the project based on various parameters and also th e existing market conditions. 5. Depending on the size of the project the file is put up for sanction to the appropriate level of authority. SANCTION AND DISBURSEMENT : 1. On approval/sanction, the sanction letter ,is issued specifying the terms and conditions for the disbursement of the loan.The acceptance to the terms of sanction is taken From the Applicant. 2. The processing charges as specified by the bank have to be paid to proceed further with the disbursement procedure. 3. The documentation procedure takes place viz. Legal opinion of various property documents and also the valuation reports. (Original Documents to title of the immovable assets are to be submitted) 4. All the necessary documents as specified by the legal dept. , according to the terms of sanction of the loan of the bank are executed.Disbursement of the loan takes place after the Legal Dept. Certifies the Correctness of execution document Post shipment finance Pre-shipment is also referred as â€Å"packing cre dit†. It is working capital finance provided by commercial banks to the exporter prior to shipment of goods. The finance required to meet various expenses before shipment of goods is called pre-shipment finance or packing credit DEFINITION: Financial assistance extended to the exporter from the date of receipt of the export order till the date of shipment is known as pre-shipment credit.Such finance is extended to an exporter for the purpose of procuring raw materials, processing, packing, transporting, warehousing of goods meant for exports. IMPORTANCE OF FINANCE AT PRE-SHIPMENT STAGE: * To purchase raw material, and other inputs to manufacture goods. * To assemble the goods in the case of merchant exporters. * To store the goods in suitable warehouses till the goods are shipped. * To pay for packing, marking and labelling of goods. * To pay for pre-shipment inspection charges. * To import or purchase from the domestic market heavy machinery and other capital goods to produce export goods. To pay for consultancy services. * To pay for export documentation expenses. FORMS OR METHODS OF PRE-SHIPMENT FINANCE: 1. Cash Packing Credit Loan: In this type of credit, the bank normally grants packing credit advantage initially on unsecured basis. Subsequently, the bank may ask for security. 2. Advance Against Hypothecation: Packing credit is given to process the goods for export. The advance is given against security and the security remains in the possession of the exporter. The exporter is required to execute the hypothecation deed in favour of the bank. . Advance Against Pledge: The bank provides packing credit against security. The security remains in the possession of the bank. On collection of export proceeds, the bank makes necessary entries in the packing credit account of the exporter. 4. Advance Against Red L/C: The Red L/C received from the importer authorizes the local bank to grant advances to exporter to meet working capital requirements relating to processing of goods for exports. The issuing bank stands as a guarantor for packing credit. 5. Advance Against Back-To-Back L/C:The merchant exporter who is in possession of the original L/C may request his bankers to issue Back-To-Back L/C against the security of original L/C in favour of the sub-supplier. The sub-supplier thus gets the Back-To-Bank L/C on the basis of which he can obtain packing credit. 6. Advance Against Exports Through Export Houses: Manufacturer, who exports through export houses or other agencies can obtain packing credit, provided such manufacturer submits an undertaking from the export houses that they have not or will not avail of packing credit against the same transaction. . Advance Against Duty Draw Back (DBK): DBK means refund of customs duties paid on the import of raw materials, components, parts and packing materials used in the export production. It also includes a refund of central excise duties paid on indigenous materials. Banks offer pre-shipme nt as well as post-shipment advance against claims for DBK. 8. Special Pre-Shipment Finance Schemes: * Exim-Bank’s scheme for grant for Foreign Currency Pre-Shipment Credit (FCPC) to exporters. * Packing credit for Deemed exports. SOME SCHEMES IN PRE-SHIPMENT STAGE OF FINANCE . PACKING CREDIT SANCTION OF PACKING CREDIT ADVANCES: There are certain factors, which should be considered while sanctioning the packing credit advances viz. 1. Banks may relax norms for debt-equity ratio, margins etc but no compromise in respect of viability of the proposal and integrity of the borrower. 2. Satisfaction about the capacity of the execution of the orders within the stipulated time and the management of the export business. 3. Quantum of finance. 4. Standing of credit opening bank if the exports are covered under letters of credit. 5.Regulations, political and financial conditions of the buyer’s country. DISBURSEMENT OF PACKING CREDIT: After proper sanctioning of credit limits, the disbursing branch should ensure: To inform ECGC the details of limit sanctioned in the prescribed format within 30 days from the date of sanction. a)  Ã‚  Ã‚  Ã‚  Ã‚   To complete proper documentation and compliance of the terms of sanction i. e. creation of mortgage etc. b)  Ã‚  Ã‚  Ã‚  Ã‚   There should be an export order or a letter of credit produced by the exporter on the basis of which disbursements are normally allowed.In both the cases following particulars are to be verified: 1. Name of the Buyer. 2. Commodity to be exported. 3. Quantity. 4. Value. 5. Date of Shipment / Negotiation. 6. Any other terms to be complied with. 2. FOREIGN CURRENCY PRE-SHIPMENT CREDIT (FCPC) * The FCPC is available to exporting companies as well as commercial banks for lending to the former. * It is an additional window to rupee packing credit scheme ; available to cover both the domestic i. e. indigenous ; imported inputs. The exporter has two options to avail him of export finance. To avail him of pre-shipment credit in rupees ; then the post shipment credit either in rupees or in foreign currency denominated credit or discounting /rediscounting of export bills. * To avail of pre-shipment credit in foreign currency ; discounting/rediscounting of the export bills in foreign currency. * FCPC will also be available both to the supplier EOU/EPZ unit and the receiver EOU/EPZ unit. Pre-shipment credit in foreign currency shall also be available on exports to ACU (Asian Clearing Union) countries with effect from 1. 1. 1996.Eligibility: PCFC is extended only on the basis of confirmed /firms export orders or confirmed L/C’s. The â€Å"Running account facility will not be available under the scheme. However, the facility of the liquidation of packing credit under the first in first out method will be allowed. Order or L/C : Banks   should not   insist  Ã‚   on   submission   of   export  Ã‚   order   or   L/C   for   every disbursement  Ã‚  Ã‚   of   pre-shipment  Ã‚   credit , from exporters  Ã‚   with consistently  Ã‚   good   track   record. Instead, a system of periodical submission of a statement of L/C’s or export orders in hand, should be introduced.Sharing of FCPC: Banks may extend FCPC to the manufacturer also on the basis of the disclaimer from the export order. Export Finance HSBC is a market leader in Export Finance, recognised through annual Dealogic surveys. Through a team of professionals in strategic locations globally, Export Finance arranges medium- and long-term financing for HSBC clients in the public and private sector across the globe buying capital goods and services. Finance can cover marine assets, aircraft, power generation equipment, infrastructure development, manufacturing equipment, oilfield services and a host of other goods and services.Export Finance also features regularly in the financing of limited recourse projects, as a project financing tool. Export Finance uses gove rnment guarantee programmes, Export Credit Agencies (ECAs), in an exporting country to credit enhance the financing to the buyer, thereby achieving highly competitive pricing for the buyer. It also allows borrowers to access a new pool of risk capital, often with appetite for extended tenors relative to traditional bank financing. Export Finance provides structuring, arranging, documentation and distribution services for clients in relation to almost all ECAs.