A Critical Study On Marketing Planning - 4038 Words

Title: A Critical study on Marketing Planning Module Name: Marketing Planning Student Name: Sad Uddin Student ID: Lcc20135522 Date of Submission: 07/07/2014 Executive Summary: Today it is said that customer is the king of new business world. It is consider customers are the key place in new business. Global business process is always changing for only one reason is customer. Customer’s interest is influenced by various factors such as environment, culture, technology and so on. Company’s main focus is to fulfill customer needs and retain profitable customer by increasing life time value of the customer. And for all doing Tasks Company develop a suitable marketing plan to gain the objective in an ethical way. All†¦show more content†¦2012 Olympic D1 Critical reflection to justify for distribution policy. 3.5 Timing, design and financial aspects affecting the plan. 09-13 04. Ethics in Marketing and associating ethics in organization. 4.1 Ethical issues influencing marketing planning 4.2 Adidas respond to ethical issues (child labour) 4.3 Consumer ethics for Adidas and its effect on marketing 13-14 Introduction: Uncertainty exists in each and every step of business and business process. If there is high risk, there is a chance of high profit in return .And the fact depends on perfect operational excellence. SWOT, PESTAL, FIVE FORCES analysis and STP approach help business to find out micro and macro factors that influence business operation. Company can understand about the environment and its customer. Thus it may create high competition among the business world. 01. Changing perspectives of Marketing Sportswear 1.1 Changing perspectives in marketing planning: At present, Sports merchandising is becoming most profitable business. It has huge potentiality. Some famous companies like Nike, Puma, Adidas, and Bata are leading the sports market nationally internationally. The pattern of sports business takes a new strategic business perspective for the changing of sportsShow MoreRelatedSwot Analysis Of Marketing Planning Procedures1303 Words   |  6 Pages The SWOT Analysis and its Importance in Marketing Planning    Introduction   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   In order to run a thriving business, you must be very knowledgeable about your customers, operation, competitors and the environment.  When it comes to market planning  many important factors must be taken into consideration. According to the business dictionary market planning is the procedure of examining one or more of prospective marketplacesRead MorePursuing A Career As A Financial Planner Essay1652 Words   |  7 Pagescommercial banking. The size of the firm won’t matter to me, but the culture and structure of the firm will. 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Short Story V - 2318 Words

~Emma s P.O.V~ As he came up behind me I felt a warm sensation on my neck, only to realize it was my dad looking over my shoulder while reading my text messages. If he only knew the truth about us. How much would change? Would he still see me the same? After being deployed for several years in Iraq he is finally home. Now everything is going to be different, even mom doesn t know and quite frankly I don t want either of them to find out. I can already imagine their expressions right now, Mom would look at me like a kicked puppy while Dad would drive off and handle things is way, the military way. I already know that if I even implied the truth about us Mom and Dad would argue all night long. I thought I told you to get off that thing about an hour ago!, Dad said as he was trying to prove a point. He snatched it out of my hand and started scrolling down my contacts. They were all mainly my close girlfriends, well all except for one. The last boy on the planet my parents would ever want me to date, Liam Daniel Sanchez. With those dreamy hazel eyes, gorgeous light brown hair, and under his shirt is countless hours of swim practice. Thank goodness I deleted any visible contact between Liam and I. Emma, darling its time for you to get to bed you have school in the morning and its almost 11pm. Okay mom, I ll be down in ten minutes to say goodnight. My mom knows its always a constant battle for me to fall asleep, therefore the process takes roughly and hour and aShow MoreRelatedThe Zodiac Killer And The Misfit1358 Words   |  6 PagesMyranda Elkin Dr. V. Hunt ENC1102 13 November 2016 Righteous Degenerate What do Adolf Hitler, The Zodiac Killer and, The Misfit all have in common? They are psychopathic murderers. Psychopaths do not feel therefore they cannot have morals in the same way normal people do. In â€Å"A Good Man is Hard to Find† by Flannery O’Connor the character known as the Misfit loses the battle with his conscience and is proven to be immoral. According to the Oxford Dictionary, morality is, â€Å"a particular systemRead MoreSimilarities Between Love And Trance1219 Words   |  5 Pagescarefully as Simon tries to remember where he put the painitng. The short story Two Kinds written by Amy Tan has similar themes to the movie trance, which is a about June and her mother Suyuan come into conflict when Suyuan becomes determined to make June into a child prodigy. Suyuan forces June to take piano lessons, but when it comes time for June to perform in a recital, she fails miserably. 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It is apparent that the girl is perturbed about this operation, while theRead MoreEssay about Rationalism of Failure678 Words   |  3 PagesRationalization of Failure Aesops short story The Fox and the Grapes tells of a fox failing to find a way to reach some grapes hanging high up on a vine. The story deals with the rationalization of the failure to attain a desired end. Rather than accept a personal failure by acknowledging our shortcomings or by unemotionally evaluating the circumstances that surrounded the failure, we rationalize and come up with an immediate excuse. We need to convince ourselves and everybody else who witnessedRead MoreCan Love Conquer All? A Worn Path by Eudora Welty Essay914 Words   |  4 Pageswriting. Eudora Welty is the author of â€Å"A Worn Path.† She has written many short stories and novels. She was born April 13, 1909 and died July 23, 2001. 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History of Duboise Essay Example For Students

History of Duboise Essay IntroductionWilliam Edward Burghardt DuBois, to his admirers, was by spirited devotion and scholarly dedication, an attacker of injustice and a defender of freedom. A harbinger of Black nationalism and Pan-Africanism, he died in self-imposed exile in his home away from home with his ancestors of a glorious pastAfrica. Labeled as a radical, he was ignored by those who hoped that his massive contributions would be buried along side of him. But, as Dr. Martin Luther King, Jr. wrote, history cannot ignore W.E.B. DuBois because history has to reflect truth and Dr. DuBois was a tireless explorer and a gifted discoverer of social truths. His singular greatness lay in his quest for truth about his own people. There were very few scholars who concerned themselves with honest study of the black man and he sought to fill this immense void. The degree to which he succeeded disclosed the great dimensions of the man. His Formative YearsW.E.B. DuBois was born on February 23, 1868 in Great Barrington, Massachusetts. At that time Great Barrington had perhaps 25, but not more than 50, Black people out of a population of about 5,000. Consequently, there were little signs of overt racism there. Nevertheless, its venom was distributed through a constant barrage of suggestive innuendoes and vindictive attitudes of its residents. This mutated the personality of young William from good natured and outgoing to sullen and withdrawn. This was later reinforced and strengthened by inner withdrawals in the face of real discriminations. His demeanor of introspection haunted him throughout his life. While in high school DuBois showed a keen concern for the development of his race. At age fifteen he became the local correspondent for the New York Globe. And in this position he conceived it his duty to push his race forward by lectures and editorials reflecting upon the need of Black people to politicized themselves. DuBois was naturally gifted intellectually and took pleasurable pride in surpassing his fellow students in academic and other pursuits. Upon graduation from high school, he, like many other New England students of his caliber, desired to attend Harvard. However, he lacked the financial resources to go to that institution. But with the aid of friends and family, and a scholarship he received to Fisk College (now University), he eagerly headed to Nashville, Tennessee to further his education. This was DuBois first trip south. And in those three years at Fisk (18851888) his knowledge of the race problem became more definite. He saw discrimination in ways he never dreamed of, and developed a determination to expedite the emancipation of his people. Consequently, he became a writer, editor, and an impassioned orator. And in the process acquired a belligerent attitude toward the color bar. Also, while at Fisk, DuBois spent two summers teaching at a county school in order to learn more about the South and his people. There he learned first hand of poverty, poor land, ignorance, and prejudice. But most importantly, he learned that his people had a deep desire for knowledge. After graduation from Fisk, DuBois entered Harvard (via scholarships) classified as a junior. As a student his education focused on philosophy, centered in history. It then gradually began to turn toward economics and social problems. As determined as he was to attend and graduate from Harvard, he never felt himself a part of it. Later in life he remarked I was in Harvard but not of it. He received his bachelors degree in 1890 and immediately began working toward his masters and doctors degree. DuBois completed his masters degree in the spring of 1891. However, shortly before that, ex-president Rutherford B. Hayes, the current head of a fund to educate Negroes, was quoted in the Boston Herald as claiming that they could not find one worthy to enough for advanced study abroad. DuBois anger inspired him to apply directly to Hayes. His credentials and references were impeccable. He not only received a grant, but a letter from Hayes saying that he was misquoted. DuBois chose to study at the University of Berlin in Germany. It was considered to be one of the worlds finest institutions of higher learning. And DuBois felt that a doctors degree from there would infer unquestionable preparation

Ufos Essays (1530 words) - Unidentified Flying Objects,

Ufo's We once believed that Earth is the only planet in the Universe that supports life. Today there is overwhelming evidence that not only suggests, but supports the very real possibility that we may share the Universe with other intelligent beings. I. Things in the Sky A. The First Documented Sighting B. The Fever Spreads 1. Pilot Encounters 2. The Lights in the Sky II. Dents in the Earth III. Unexplained Phenomenon A. The Writing on the Wall B. Geodes IV. What About Religion? A. The Christian Bible B. The Ancient Greeks C. The American Indian V. Conclusion We are not Alone. On June 24th, 1947 while searching for the remains of a downed Marine C-46 transport, lost somewhere in the Mount Ranier area, a young Idahoan businessman named Kenneth Arnold spotted something that would change his life forever. Just north of his position flying at an altitude of 9,500 feet and an unprecedented airspeed of 1,700 mph he spotted nine circular aircraft flying in formation. According to his estimate the aircraft were approximately the size of a DC-4 airliner ( Jackson 4). This account was the first sighting to ever receive a great deal of media attention. This sighting gave birth to the phrase flying Saucer coined by a reporter named Bill Begrette. Although not the first UFO sighting in history, Kenneth Arnolds account is considered to be the first documented UFO sighting. The following day Mr. Arnold discovered that in addition to his sighting there were several others in the Mount Ranier area that same day (Jackson 6). When most of think of UFO sightings we picture an unemployed, half- crazed, alcoholic hick living in a trailer park in the middle small town USA. Often times this description, although a little exaggerated, seems to fit fairly well. In the past when the average person spotted a UFO they were quickly discounted as a kook or con-artist in search of either attention or monetary reward. It wasn't until more reputable figures in our society began to come forward that w e that we started looking at this issue a little more seriously. An article written 1957, entitled Strange lights over Grenada written by Aime' Michel describes just such an account: At 10:35 p.m. on September the 4th, 1957 Cpt Ferreira ordered his wing to abandon a planned exercise and execute a 50 degree turn to port. Ferreira was attempting to get a closer look at what he described as brilliant, pulsating light hanging low over the horizon. When the turn was completed he noticed that the object had turned too. It was still directly over his left. There was absolutely no doubt that the orange light was shadowing the F-84s. For another 10 minutes, it followed the jets without changing direction or appearance. The pilots watched as four small yellow discs broke away from the large red object and took up a formation on either side of it. All at once the large luminous disc shot vertically upward while the smaller discs shot straight towards the F-84s. In an instant the flat disc sped overhead in a hazy blur and vanished. When Cpt Ferriera was questioned by Portuguese Air Force Investigators he was quoted as sayingPlease don't come out with the old explanation that we were being chased by the planet Venus, weather balloons, or freak atmospheric conditions. What we saw up there was real and intelligently controlled. And it scared the hell out of us. (32) This is only one of literally hundreds of pilot accounts that have been documented and cross verified by other sources. To date the Portuguese Government has taken no official position as to what the luminous discs were. The United States has had more than it's fair share of unexplained aerial objects. In February of 1960 the N.A.A.D.S. (North American Air Defense System) spotted a satellite of unknown origin orbiting the Earth. They knew that it sn't a Soviet satellite because it was orbiting perpendicular to trajectory produced by a Soviet launch. It also had a mass estimated at 15 metric tons, no evidence of b ooster rockets and traveled at speed three times faster than any known satellite. The satellite orbited for two weeks and disappeared

Santa Ana Winds Ap Lang Essays

Santa Ana Winds Ap Lang Essays Santa Ana Winds Ap Lang Essay Santa Ana Winds Ap Lang Essay Santa Ana Winds Passage Ap Lang In the piece, Joan Didion describes the Santa Ana Winds which hit Los Angeles every so often. The winds are seen as a threatening issue, as Didion describes them as dangerous and unwanted. The passage portrays her view on the Santa Ana winds as something horrendous that makes a dramatic effect on the inhabitants of Los Angeles. In the first paragraph Didion begins by describing the eerie feeling in the air with words that connote an anxious tone, such as uneasy, unnatural, and tension. She does not mention what she is describing in her piece until the next aragraph, which creates suspense and gives the reader the impression that the subject she speaks of is a terrible thing. Once she reveals the subject, the Santa Ana Winds, the piece gains a certain emphasis and the reader instantly connects it with being malevolent. Didion also depicts the scene which many denizens of the Los Angeles area will encounter during the Santa Ana period: For a few days now we will see smoke back in the canyons, and hear sirens in the night (239). In this excerpt she describes how the wind will cause many fires and maybe even deaths, which give the impression that the winds are very dangerous. The author remember how due to the wind [She] rekindle[d] a waning argument with the telephone company (239). The argument had weakened but the winds evoked a rage inside her that burst into uncontrollable actions, revealing how the wind negatively altered her emotions and actions. In the second paragraph of the passage Didion describes the Los Angeles area during the Santa Ana period. The author recalls being told that the Indians would throw themselves into the sea when the bad wind blew (239). This creates an image of the wind being a feared force, which was horrible enough to make native-Americans run and hide. She also depicts the yellow glow in the sky which is sometimes called earthquake weather. Earthquakes are destructive and significantly alter human behavior as they create disparity in the habitant. This clearly reveals that Didion believes that winds are Just as destructive as an Earthquake except the winds do their deeds by activating mechanistic behaviors. Her neighbor, during the Santa Ana period, would tell [her] that he had heard a trespasser, [and] next a rattlesnake (239). This image reveals the winds negatively altering her neighbors emotions and mental state. He becomes increasingly paranoid, defensive, and violent. In the first half of the third paragraph Didion starts off with a quote, every booze party ends in a fght. Meek little wives feel the edge of the carving knife and study their husbands necks. Anything can happen (239). By using a second view of the winds, she grabs the readers attention and also adds to the credibility of her opinion. The quote also emphasized the fluctuation of human actions due to the Santa Ana wind. The author adds that the basis for the effect is also backed by science and further personifies the wind by describing it as malevolent. Although she contradicts herself, she still gets her point across fairly well. She also adds how the doctors hear about headaches and nausea and allergies, about nervousness, about depression (239). In this sentence fragment Didion uses parallelism in order to show a connection between the symptoms which are all caused by the same Santa Ana wind, making them seem more malignant then they really are. In the second half of the final paragraph Didion begins using facts, saying that the children become unmanageable the suicide rate goes up[. ] and in the courts of some Swiss cantons the wind is considered a mitigating circumstance for crime (239). The author uses pathos to get the reader to see how the winds ause people to go wild. Their brains are negatively impacted by the wind. Near the end of the passage the author uses a periodic sentence: In any case that positive ions are there, and what an excess of positive ions does,9in the simplest terms, is make people unhappy (239). Didion uses a periodic sentence to emphasize that ultimately the winds cause unhappiness and despair in the people of Los Angeles. This sums up her opinion throughout the entire piece. Overall, Didion views the Santa Ana winds as pernicious to humans. She uses syntax, imagery, and diction to unveil and reveal her opinion to the reader.

Essay on ways of seeing

Essay on ways of seeing Essay on ways of seeing â€Å"When in love, the sight of the beloved has a completeness which no words and no embrace can match: a completeness which only the act of making love can temporarily accommodate† (Berger 141). The essay Ways of Seeing portrays the idea that every person views the world differently with different ideas about what they see. A major thing that every person views differently is what, how, and who they fall in love with. The events in everyone's life effects the lens life is viewed through. This lens chooses the people everyone is attracted too, and chooses who every person loves. If everyone viewed the world the same exact way wouldn't everyone love the same people? And wouldn't that leave some people without love? If seeing comes before words, then does that mean that love at first sight is real? Berger used major themes in Ways of Seeing, one including the idea that everyone sees love differently. â€Å"To look is an act of choice† (Berger 141). This quote's significa nce to this theme is when a person is attracted to another, it is obvious that no is perfect. The idea is that people have the choice of look into every small flaw of another, or there is the choice to love even the flaws. Seeing does not always have to be done through the eyes. When it comes to loving â€Å"seeing† is a term that is used in multiple ways. â€Å"Seeing† when it comes to love means much more that seeing what is on the outside of a person, it comes to seeing the inside of the person also. Seeing is a loose term that describes the way you view someone as a whole, and seeing both the good and bad and still loving a person, is a choice. People see through their eyes to find beauty, and people see through their hearts to find what love is to them. When every person is born they have a certain accuracy of vision. Some people have impaired vision and require glasses, while others are born with a perfect 20/20. Although some are born with accurate vision and ot hers not so much, vision is something that as the years go on and as every person ages it can change. This idea of changing vision is a parallel idea with the idea that the way you love someone is constantly changing. When love first occurs it is normally very happy, but as time goes on you begin to understand the type of person the one you love is. The way your vision changes is the way your love can change. Maybe that is way divorce has become very common in modern days. Although at once you had 20/20 vision of a person and would never think the love could fade, maybe your vision becomes blurred over the years until you cannot see the way you used too. Cannot see through the lens you used to fall in love with. Other times even after the years go on and the vision you have of a person begins to blur, the choice of remember what you once saw is what keeps the love strong. It really just depends on the two people who's visions is going through the changes. â€Å"Our perception or ap preciation of an image depends also upon our own way of seeing† (Berger 142). When it comes to love everyone loves different people, because every person appreciates and views other people differently. Sometimes appreciating what a person would do for you due to the fact that they care about you so much is what causes you to view that person with difference. This difference meaning you view them by a different perspective. A perspective that could make you love this person. Most of the time the way love occurs is when you can see in a person what the rest of the world cannot see, and understand it. And even if you do not fully understand what you are seeing in the person, you still give them perspective because you care about them so much. Since everyone views the world differently, what exactly is perspective? That

Role as a Mentor Essay Example | Topics and Well Written Essays - 1000 words

Role as a Mentor - Essay Example Mentoring is a concept and practice that is associated with providing professional learning in health care. This practice has changed since 1970 significantly and was officially implemented in nursing in 1980. There are different tittles that are used in connection with the role of mentoring. Role of Mentors Mentoring activities are aimed at providing safe and effective skills for students in health care practice. It helps professionals provide informed guidance to students while they are in a practical situation (Martin and Mackinnon, 2007, 41). Mentors should have the knowledge and skills to hold up learners and offer secure surroundings for learning. There are roles within mentorship that overlap, even though there are distinctions between these roles. When these roles change, a clear distinction between mentoring and coaching is established. The term ‘mentor’ has changed to signify a person who guides individuals during their developmental years to progress and achieve their identity (Martin and Mackinnon, 2007, 41). The term is implemented in nursing education for students to achieve safe and effective clinical skills during their practice. The role of a mentor is to support learning in the practice situation. There are overlapping roles of a mentor; thus, he is expected to show certain characteristics during a practical situation. There are different roles of a mentor and a lecturer in that a mentor focuses on individual students in practice while a lecturer focuses on learning environment. In nursing practice, the word ‘mentor’ is defined as a midwifery or health visitor who supervises students in clinic situations. Mentors also help in facilitating learning in clinical settings. Mentors have different roles that include nurturing, role modeling, functioning, and sustaining a caring relations hip over time. Mentors should have good communication skills for them to understand the principles of adult education. The role of mentors is widely utilized, and it may appear as an obvious aspect offered to learners. Students need mentors to ensure they have safe practices. Mentors also ensure that students acquire competence in their fields of learning. In nursing and health profession mentors guide, support and act as role models to their students. It is the responsibility of a mentor to structure a working environment for learning, hence facilitating constructive and honest feedback. A mentor ought to be friendly and encourage the students while they are in a learning situation. Students who have been on placement can take advantage of mentoring by applying for that post after qualification. Mentorship enables students to attain competent practice as long as it is established on a supportive basis. It is suggested that people might benefit from having a mentor in their lives. B oth parties select this role, and the mentor can be a parent, friend, or a senior peer. Students select mentors for guidance and counseling. However, mentors identify different reasons for mentoring roles. Research has identified different roles for mentors such as guidance and counseling. Aspects for Change The mentoring process combines various factors that are effective and essential for learning. Mentors need to create an environment for learning and display leadership skills for students to emulate. The mentoring process should emphasize assessment and accountability. Establishing an effective learning environment is significant because it contributes to sufficient clinical experience. This relationship assists the mentor and students in

See description Research Paper Example | Topics and Well Written Essays - 750 words

See description - Research Paper Example Medicare furnishes healthcare program to help such disadvantaged financial situations of the elderly U.S. residents. The workforce pays taxes to the government throughout the employment period. This accumulated money of the individual in the form of taxes is given back after 65 years of age independent of their current working status. While, the Medicaid delivers healthsecurity net to necessitous and vulnerable population, and are executed by individual State separately. Medicare’s senior enrollee can also be a part of Medicaid. Medicaid enrollees can avail additional cost benefits over Medicare for prescription drugs, diagnostic and preventive care, and eyeglasses (Nolo ®, 2010). The recipients of Medicare and Medicaid can overlap. In such cases, the entitled enrollee of Medicaid offers financial help for Medicare deductibles and the Medicare premium. As the global, political, social and environmental factors are charnging at fast pace, each federal program is facing ongoing challenges.These challenges are carried over and entire health care system is trapped into vicious cycle. Financing of Medicare as well as Medicaid is the most emerging issue due to corollary effect of general aging of society, economic recession, and unemployment. Managed care is the major health service program subsequent to the arrival of Medicare to reduce the cost of health care services for patients. Managed care plans are health insurance plans frequently involves unreasonable limits on visits with health care providers and medical facilities. But it no longer is viewed by most employers and federal and state governments as the primary means by which health care costs can be brought under control due to vested interest of individuals in America’s health care delivery system (Boyle & Callahan, 1995). Managed care system is connected with several legislative acts because of which it drew into controversy to give best service in the interests of patients. The clinicians,

Four foods common throughout Mexico Essay Example for Free

Four foods common throughout Mexico Essay Corn, and corn tortillas in particular, are common throughout all of Mexico. Corn tortillas are considered the â€Å"bread† of Mexican culture. Beans are almost always served as a side dish with all meals. Chilies, squash and tomatoes are all indigenous foods that thrive in the arid regions and are used for flavoring and as side dishes throughout the country. Chilies are also often integrated into main dishes. B. Comparison and Contrast of foods from three regions of Mexico Food from the Mexican plains region is typically more heavy with fats and starches. The region’s cuisine relies on meat and dairy products (most notably beef and cheese) in addition to the traditional beans and corn found elsewhere throughout the country. Tropical Mexico relies heavily on the fish and seafood that are abundant along the coast for its main dishes. It also incorporates food locally grown on plantations such as coffee, bananas, avocado, limes, tomatoes and tropical fruits such as mango, tamarind and coconut. Ceviche, a blend of raw fish, lime juice and vegetables, is very popular. Southern Mexican cuisine uses chayotes and cactus and relies heavily on chicken dishes, often marinated. Mole sauce, using chilies and chocolate originated in Southern Mexico and is used as a ceremonial dish at baptisms, weddings, and the Day of the Dead festivals. Even grasshoppers, which are quite abundant, are often eaten fried. Beans and avocados are also used in many dishes. Meat from goats and pork along with chilies and tortillas are often found in dishes from all regions. Chocolate and vanilla are two items that put Mexico on the map and quite popular throughout the country as flavorings. Chocolate is used in sauces as well as for drinking and often infused with cinnamon. Mexican cuisine is very reliant on the food sources most abundant in the region and so range the gamut from seafood to cactus. 6. Comparison and Contrast of food and customs of India’s Northern and Southern regions In Northern India wheat, tea, masala, pickled fruits and vegetables, garlic and eggs are commonly used. Most dishes are prepared by boiling, stewing or frying. Unleavened bread and a vegetable dish are served at breakfast and lunch. Dinner is the same with the additional of a few extra dishes. All meals are served with tea and lemonade in the summer. Hydrogenated oils are used for cooking. In Southern India, banana leaves serve as plates and boiled rice comes with every course. Vegetables and lentils make up the first two courses while rice and yogurt are in the third course. All are accompanied by pickles, chutney and fried wafers. Dessert is only served on special occasions. Coconut, plantain and fish are often used and tend to be spicy. They use peanut and sesame oil in addition to hydrogenated vegetable oil and prepare dishes by steaming. Rice, coffee, chutney fruits and vegetables are integral to the cuisine. Grains cooked into cereals are popular. Chickpeas and lentils are used in nearly every meal. Spicy vegetable curries, deep-fried, salty foods and sweets are popular as snacks. The foods of both regions are highly vegetarian, per religious beliefs. Neither region eats beef nor traditionally drinks alcohol. The spices and condiments heavy in Southern Indian cuisine are the influence of Jews and Christians. In the North, wheat is the staple food while rice reigns in the South. Northern Indians drink tea with their meals while Southern Indians prefer coffee. Since Pakistan was once part of India, the cuisine of the Northern region is very similar to that of Pakistani food. The foods of both regions are influenced heavily by their respective religions as well as the influx of foreign traders in earlier centuries. 7. A. Five foods indigenous to Caribbean In Jamaica, dukunnu is made with cornmeal, sugar, raisins spices and coconut and wrapped in banana leaves and boiled or baked. Jamaica also uses turn cornmeal made of cornmeal blended with peas, spices, coconut milk, saltfish and sometimes other ingredients. Peppers are indigenous all over the Caribbean and are commonly used to spice up dishes such as marinated â€Å"jerk† meats. Manioc, sweet potatoes and yams are served as a side dish or deep fried. There is heavy reliance on fish, including conch and shellfish. B. Identify the Caribbean country or island: 1. Sofrito – Cuba and Puerto Rico 2. Picadillo – Cuba 3. Jerk Foods – Jamaica 4. Sancocho – Dominican Republic 5. Moros y Cristianos – Cuba 6. Habichuelas con Dulce – Dominican Republic.

Childhood Autism Spectrum Disorders Essay -- Diseases, Disorders

Childhood Autism Spectrum Disorders Autism has been on the rise in the past 20 years, and is getting dangerously close to reaching epidemic proportions (Zelan, 1). Statistically, Autism rates have been rising in the United States with Autism now effecting 1 in every 150 children ages 10 and younger (Zelan, 1). Autism can occur in any race and does not gender discriminate, though boys are four times more likely to have Autism than girls (Castrogiovanni). The causes, symptoms, diagnosis, and treatment of Autism are the main aspects that most interest researchers today. If studies continue to have good results, the quality of life for Autistics could improve exponentially. Autism is a developmental disorder that has baffled researchers for years, but research breakthroughs in the causes, symptoms, diagnosis, and treatment of Autism allow for a better understanding of the condition. There are many theories regarding Autism, however, the actual cause(s) remain unknown. Autism could have several possible triggers, but any information is still in the earliest stages of research. Genetics, familial connections, having an excess of testosterone, and vaccines have all been speculated as potential causes. Genetic testing has revealed interesting information, but no gene or genes have been linked to Autism directly. One researcher states, â€Å"Autism probably results from abnormalities in at least three to twenty genes and very likely has no single causal gene.† (Fredericks, 35) Researchers have also found that Autistics under 12 have an overall larger brain size in comparison to normal children. (Fredericks, 35) This information really expresses the need for more in-depth research regarding genetic links (Fredericks, 15). The idea that Auti... ...oadedFiles/public/TESAutisticSpectrum.pdf>. "Roles and responsibilities of speech-language pathologists in diagnosis, assessment, and treatment of autism spectrum disorders across the life span." . N.p., 2006. Web. 6 Mar 2012. . Schopler, Eric, Robert Reichler, and Barbara Rochen Renner. Childhood Autism Rating Scale. Western Psychological Services, 1986. Print. Self, Trisha L. and LaDonna S. Hale and Daiquire Crumrine. â€Å"Pharmacotherapy and Children with Autism Spectrum Disorders: A Tutorial for Speech Language Pathologists.† Language, Speech and Hearing Services in School. Vol. 41. July 2010: 367-375. Text. â€Å"Types of Autism.† Autism-diagnosis.com. Autism Diagnosis. N.d. Web. Zelan, Karen, Between Their World and Ours: Breakthtoughs with Autistic Children. New York: St. Martis Press, Print. May 2003.

Leon Battista Alberti

Discuss Alberti ‘s treatise on Architecture in relation to San Andrea in Mantua. In peculiar, discourse the function of humanistic doctrine in his work giving careful attending to the inquiry of proportionLeon Battista Alberti ( 1404-72 ) was a true ‘Renaissance ‘ adult male. He was a talented dramatist, mathematician and sportsman trained in Law. As the individual in charge of the buildings commanded by the Pope, he had the juncture to compose one of the greatest plant of the theory of architecture De Re Aedificatoria ( On Building ) . Most of it was completed in 1452 and printed in 1485. In the Ten books of the Art of Building Alberti has explained the utility of a roof and wall for homo. He said that it helps us to come near to one another and besides turn together. Therefore we should be thankful to designers non merely because they provides us a safe and welcome topographic point but besides for its many inventions, which are utile to both persons and the populace and the besides provide our day-to-day demands ( page 3 ) . Commissioned by Ludovico II Gonzaga, the church was begun in 1462 harmonizing to designs by Leon Battista Alberti on a site occupied by a Benedictine monastery, of which the bell tower ( 1414 ) remains. The edifice, nevertheless, was finished merely 328 old ages subsequently. Though ulterior alterations and enlargements altered Alberti ‘s design, the church is still considered to be one of Alberti ‘s most complete plants. The intent of the Renaissance edifice was to incorporate the pilgrims who visited it during the banquet of Ascension when a phial, that the faithful argue contains the Blood of Christ, is brought up from the crypt below through a hole in the floor straight under the dome. Harmonizing to tradition the â€Å" Most Cherished Blood † was brought to Mantua by the Roman centurion Longinus and is preserved in the Sacred Vessels. It was held with high regard during the Renaissance which is merely show on Holy Friday. Humanitarianism is the perusal of the classics ( Grecian and Latin ) and integrating their thoughts into 1s ain. It is the cultural motion of the Renaissance architecture. Most renaissance classical architecture shows more â€Å" lucidity † than the older 1s, because it emphasizes clean lines, geometric forms, symmetricalness. It argues whether that is more â€Å" enlightened † than mediaeval architecture. It was more thought out, possibly ; more consistent, more systematic. Alberti had many doctrines when planing for edifices, and like the plants of Vitruvius, created text that gave direction on how to construct, but saved chief accent on the ornament and the exterior aesthetics of the construction. One rule that Alberti made usage of was a system of Proportionality that he developed utilizing systematic harmoniousness of musical ratio, to do his edifices appealing. Defined as â€Å" the precise and right lineation, conceived in the head, made up of lines and angles, and perfected in the erudite mind and imaginativeness † , this theory and â€Å" lineamenta † were cardinal in Alberti ‘s procedure of design. Alberti believed that the â€Å" Lineamenta † stood as an lineation and allowed proportions to be perceived in the design, where â€Å" The really same Numberss that cause sound to hold that concinnitas, delighting to the ears, can besides make full the eyes and head with fantastic delectation. Reapplying accent on the â⠂¬Å" humanistic attack to plan † The tie with the humanistic manner of design is a changeless subject throughout Alberti ‘s 10 books, and the â€Å" beauty of Buildings † besides features to a great extent. Albert ‘s definition, Beauty resides in a sound harmoniousness of all the parts within a organic structure, so that nil may be added, taken away, or altered, but for the worse. It is a great and holy affair, all our resources of accomplishment and inventiveness will be taxed in accomplishing it ; and seldom is it granted even to Nature herself, to bring forth anything that is wholly complete and perfect in every regard. ( VI, two, 156 ) . Alberti ‘s position of what Beauty is has connexion to the analogy of theanthropism, seeing â€Å" Man † as a constituent that uses energy to function and make good. This doctrine maintains that Alberti believed that work forces were made in God ‘s image and similitude, Godhead of the existence, and through this idea, understood that what qualities make a edifice â€Å" beautiful † opens the way to the path of all Knowledge and the original beginning of beauty to pull from, God himself. In his treatise nature is used as inspiration, where â€Å" the ground of Nature † permits an designer to look into into the characteristics of the natural universe, including adult male ‘s influence, to go better equipped to perceive and do usage of â€Å" Concinnitas † , ( which Alberti refers to as â€Å" the partner and psyche of ground † ) to associate presenting nature as the beginning of art in architecture and the nature based Torahs embedded in the outside universe. As in the San Andrea, Mantua the fa & A ; ccedil ; fruit drink of the church is finely decorated with curves and fluxing forms on the ordered columns, pulling from Alberti ‘s treatise and its counsel on how to non merely make a edifice, but how to do its beauty reflect that of God ‘s love and NatureRefrences:sacredarchitecture.org/authors/carroll_william_westfall/ -Carroll William Westfall ( Journal entry 16 )hypertext transfer protocol: //www.greatbuildings.com/buildings/S. _Andrea.htmlMarvin Trachtenberg and Isabelle Hyman. Architecture: from Prehistory to Post-Modernism. p295-6MentionsTitle: On the Art of Building in Ten Books Writer: Leon Battista Alberti Translator: Joseph Rykwert, Neil Leach, Robert Tavernor Published by the MIT Press Cambridge, Massachusetts London, England hypertext transfer protocol: //www.albertiefirenze.it/english/leon_battista_alberti/index.htm hypertext transfer protocol: //eng.archinform.net/projekte/4126.htm

Exxon Mobil Resources and Capabilities Essay

Mobile is one of the most successful companies in the oil and energy industries today. But what makes them so successful? In an effort to answer this question, a thorough internal investigation can be helpful in determining what aspects of this company are making it an industry leader. Two aspects of this internal analysis of Exxon Mobile are the company’s resources and capabilities. Resources One of the most reputable resources that Exxon Mobil has today is a strong brand name. Exxon Mobil operates all over the world and is recognized in every part of the world (Datamonitor, 2008). When people all over the world know who a company is, what they do, and where they are located, the company gains a unique competitive advantage over the rest of the industry. A good way to analyze this resource is to use the VRINE Model (Strategic Management, 2007). This breaks down in order to analyze its value, rarity, inimitability, and exploitability. For this resource I’ll start by assessing its value. The question that must be answered is, â€Å"does this resource allow the firm to meet market demand or protect the firm from market uncertainties? † (Strategic Management, 2007). In the case of the brand name resource, I believe that it gives them ample protection against uncertainty and enables them to compete, if not lead, in the industry. Exxon operates in over 200 countries around the world (Datamonitor, 2008) The fact that this company is present all over the world, and not many other industry competitors operate in so many different regions, proves that this particular resource is very valuable to the company. If a company can possess something that another company cannot, value is inevitably created for that resource. This resource also protects them from uncertainty because this brand is already established itself within the market and can thrive in it without too much concern about the well being of the company, thus limiting some uncertainty. Next in the VRINE model is assessment of its rarity. Do any other companies possess such worldwide recognition as Exxon Mobil’s brand name can bring? There are some companies that have come close in competing with Exxon Mobil, such as ConnocoPhillips and Chevron, but none can compare with the unique profitability and opportunities that the name Exxon can bring to a region. The name is undoubtedly trusted throughout the world and rarely rivaled. Those aspects of the brand name recognition make this brand name a rarity. The next step in the VRINE model is to assess the inimitability. To assess this, the question of can competitors â€Å"acquire the valuable and rare resource quickly, or will they face a cost disadvantage in doing so? † (Strategic Management, 2007). The simple fact that the Exxon Mobil name is trademarked and registered makes it impossible for any other company to replicate its name. Also it would cost a substantial amount to buy out the company and gain its name. This alone makes the brand name inimitable. Now assessment of the nonsubstitutability is needed. The question arises, â€Å"is there protection against ready substitutes? † (Strategic Management, 2007). For Exxon, their name reputation is one that substitutes have a very difficult time matching. Exxon is leading the industry and continues to be a leader of almost every aspect of the industry today. Though substitutes are present in the industry, none can surpass the reputation of Exxon Mobil. The final step in the VRINE Model is to assess the resource’s exploitability. The question to answer is, can the firm â€Å" nurture and take advantage of the resources and capabilities that it possesses? † (Strategic Management, 2007). For Exxon, they can bring the company anywhere in the world and use the recognizable name to establish credibility and power in that region. This gives the company a considerable advantage when it comes to exploiting its brand name to establish the company around the world. After analyzing the resource using the VRINE Model, all aspects of the model have been met, so it is safe to say that this resource can give them a competitive advantage among its competitors. Another important resource that Exxon possesses is the presence of human expertise capital throughout the company (Datamoitor, 2008). Exxon employs many scientists and engineers that are researching and finding new ways to gain access to more energy resources and make the new innovations less harmful to the environment (Annual Report, 2007). This human capital has proven to be a very important resource for the company as shown by their development of new ways to increase liquid natural gas supplies and â€Å"enhancing heavy oil recovery† (Annual Report, 2007). Using the VRINE model again, I will assess this resource. In analyzing the value of the human expertise capital, again we must consider whether this resource helps the company meet market demand and can eliminate some uncertainty. In this case, I believe that the unique research department that houses these scientists and engineers is one that gives the company a great capability to compete in the market, and even excel within the industry. I believe it also eliminates some uncertainty because while the company is researching and developing cutting edge technology, it keeps them knowledgeable about all the new innovations and ideas that are throughout the industry. This makes the resource very valuable. Next, the rarity of the resource must be analyzed. I believe that this resource is rare because of the entire department (the Upstream Research Center) within the company devoted to letting these scientists and engineers use their knowledge to propel the company into the future (Annual Report, 2007). Some companies have R & D departments, but they don’t posses the funding for such expertise and capabilities within these departments like Exxon has in its Upstream Research Center (Annual Report, 2007). This makes the breadth of their scientists and engineers and rare resource among it competitors. Following the VRINE Model, inimitability is the next aspect to analyze. I believe that it would be very difficult for any company to gain the human expertise capital that Exxon has. Exxon pays particular attention to its scientists and engineers by providing opportunities to use their knowledge to help solve every day problems that the company is facing. Many of these scientists and engineers had PhDs in their respective fields, thus making their ideas more credible and valuable to the company (Annual Report, 2007). This make the human expertise capital an inimitable resource because it makes it hard for other companies to replicate the magnitude of the distinguished human capital that Exxon possesses. The next step in the VRINE Model is nonsubstitutability. It would be nearly impossible for a competing company to substitute an equally effective team of engineers and scientists. The cost would be too great for the company. Exxon is leading the way in Research and Development trends, and substitutes for the quality of employees that Exxon has would be very difficult for other companies, making the nonsubstitutability of Exxon’s human capital very high. The final step is to analyze the exploitability of the human expertise capital. Exxon has proven that the expertise that is present can be exploited to develop new and innovative ideas that help Exxon maintain as an industry leader. One example of the result of this exploitation is the development of Metallyte UBW-ES, which is a new polypropylene film for packaging that has unprecedented sealing power (Datamonitor, 2008). This example proves that the exploitability of this human expertise capital makes this resource a valuable asset to the company. After analysis of the human expertise capital resource using the VRINE Model, it can be said that this resource gives Exxon Mobil a competitive advantage in the industry. Capabilities After assessing the resources that Exxon has available to them, it is now easier to illustrate what Exxon’s capabilities are because of the acquisition and ownership of these resources. One of Exxon’s important capabilities is their extensive research and development capabilities. Exxon’s research and development capabilities are very dynamic in the sense that as new energy conservation and developments arise, they can adapt their research and development departments to meet the new technologies and innovations. Their research and development capabilities go insofar as to â€Å"improve existing products, and enhance service† (Datamonitor, 2008). Using the VRINE Model again, it can be easy to see if this capability really gives Exxon a considerable competitive advantage. First we have to look at the value of this capability. Exxon has utilized the company’s valuable resource of human expertise capital do help head the research for new improvements and innovations that help lead the way for Exxon to grow (Annual Report, 2007). One such innovation is the development of Enable mPE, which has â€Å"substantially reduced waste and energy consumption across a wide variety of film applications† (Datamonitor, 2008). This capability allows them compete within the market and gain headway in developing potentially high profit innovations, thus giving value to their research and development capability. Next the rarity needs to be assessed. Though almost all of Exxon’s competitors have research and development departments, none have invested the amount that Exxon has. Also there are only a handful of top competitors within the energy industry so that alone makes Exxon’s R & D department rare. In fiscal year 2007, Exxon invested $814 million in R & D. Though the idea of an R & D department is not a rarity in its own right, the amount invested and products produced because of their extensive R & D work makes this a rare capability among its competitors. The next assessment in the VRINE Model is the inimitability of this capability. As mentioned before many other companies have a R & D department, but not to the extent that Exxon’s is being funded and operated. In the past 5 years, Exxon has invested upwards of $3. 5 billion in research and development alone (Annual Report, 2007). Very few of Exxon’s competitors can match that without having an almost impossible financial obligation afterward. That is one feat that few companies can imitate. The next step is to analyze its nonsubstitutability.

Definition of Assemblage - Art History Glossary

Definition of Assemblage - Art History Glossary (noun) - As one familiar with the word assembly might assume, assemblage is a form of sculpture comprised of found objects arranged in such a way that they create a piece. These objects can be anything organic or man-made. Scraps of wood, stones, old shoes, baked bean cans and a discarded baby buggy - or any of the other 84,000,000 items not here mentioned by name - all qualify for inclusion in an assemblage. Whatever catches the artists eye, and fits properly in the composition to make a unified whole, is fair game. The important thing to know about assemblage is that it is supposed to be three-dimensional and different from collage, which is supposed to be two-dimensional (though both are similarly eclectic in nature and composition). But! Theres a really fine, nearly invisible line between a bulky, multi-layered collage and an assemblage done in extremely shallow relief. In this large, grey area between assemb- and col-, the safest course is to take the artists word for it. Pronunciation: ah ·sem ·blahj Also Known As: construction, bricolage, collage (inaccurately), sculpture Examples: Lets save many thousands of words here and look at some pictures of assemblages done by different artists. Raoul Hausmann: Mechanical Head (Spirit of Our Age), ca. 1920Man Ray: , 1964 (replica of 1923 original)Louise Nevelson: , 1957Meret Oppenheim: , 1936Kurt Schwitters: Broad Schmurchel (Breite Schmurchel), 1924Joseph Cornell: Navigating the ImaginationRobert Rauschenberg: Combines (Exhibition Image Gallery)

Bushs Failed War on Terror essays

Bush's Failed War on Terror essays As Vice President of the United States, Dick Cheney was at the center of Bushs "War on Terror." Along with then Secretary of Defense, Donald Rumsfeld, he was the chief architect of the plan and attack against Saddam Hussein and Iraq. Cheney advised and convinced President George W. Bush to include Iraq in the administrative plans to retaliate after the 9/11 attacks in New York. Cheney and his staff supported the reliance on uncorroborated evidence and accepted this evidence as solid enough reason for waging the war on Iraq. In addition, Cheney was instrumental in obtaining the legal briefs from the Justice Department that empowered the President to wage war without the authorization of Congress. Cheney advocated the use of controversial interrogation techniques to obtain information that would link Saddam Hussein to the 9/11 attacks. In the documentary, Cheney and Rumsfeld supported a Pentagon-led alternative that resulted in their decision to invade Iraq. Cheney also was involved in securing controversial, secret legal opinions from the Justice Department that would grant President Bush unrestricted, broad authority to wage war without the consent of the U.S Congress. Cheney supported the use of enhanced combat and interrogation techniques against captured combatants. President Bushs fixation on invading Iraq was borne out of his distrust of Saddam Hussein. Bush stated in the documentary that Saddam was an evil man who gassed his own people. In reference to Saddam Hussein, Bush declared after the 9/11 attacks, that his administration would hunt down the Islamic fundamentalists and, those who harbour them. Bush believed that Saddam Hussein was providing support for Al-Qaeda. The intelligence information that was used as a predicate to the invasion was manipulated in order to justify the war. This invasion policy was hatched and promoted chiefly by Chen...

Qualitative Analysis Essay Example | Topics and Well Written Essays - 1250 words

Qualitative Analysis - Essay Example However, most of these forms of answers sometimes provide additional information that may be vital for the research. Therefore, qualitative research is an essential tool in evidence based policing. If the offenders are involved in the interview or research, it should be noted that these characters tend to provide vague verbal expressions that have a high degree of uncertainty; thus, they may make the investigators to misinterpret such claims a factor that may mislead the investigation (Hayden, 2012). Moreover, such vagueness of expressions may lead to empirical difficulties to verify the effectiveness of the criminal profiles developed from such research work (Agarwal and Agarwal, 2008). Therefore, this essay aims at addressing the significance of effective and ineffective reporting of the qualitative criminal research findings. The article â€Å"The Evolutional View of the Types of Identity Thefts and Online Frauds in the Era of the Internet† by Shun-Yung Kevin Wang and Wilso n Huang is pegged on their research work on Online Frauds (Wang and Huang, 2011). From the article, it is apparent that these researchers have highly concentrated the negative effects of the internet thereby they might have disregarded other vital information that might have been provided concerning their topic research. However, it is important to analyze presented information that is not relevant to the topic of concern. Analysis of such information is vital for such information usually provides hints to other factors that contribute or are likely to contribute to the advancement of such crime (Greasley, 2008). Wang and Huang’s article aimed at addressing Types of Identity Thefts and Online Frauds in the Era of the Internet, a topic that might have just concentrated on factors that fuels such crime, but it is apparent that the reported they provided also contains the advancement of this criminal act that may be considered as positively reported negative evidence. For instan ce, they reported, â€Å"With the continuous advancement of Internet technology and personal computing devices in recent years, Internet crimes have risen to an alarming level (Wang and Huang, 2011).† This form of information is quite important since if the activities related to that crime are increasing, it would be upon the law reinforces to revolve of measures to take towards curbing; otherwise, reducing the same factors or activities. On the other hand, Wang and Huang seemed to have failed to record what most respondents tend to give at the end of the interview or following the structures of certain questions. In their report, they should have mentioned the solutions offered by their correspondents suggested to reduce or eradicate the internet related criminal activities (Faherty, 2008). For instance, they noted, â€Å"the integration of such diverse technological applications coupled with the rapid growth of online users make fraudulent activities likely to rise further , if no intervention is proposed and implemented (Wang and Huang, 2011).† In this part of their report, they failed to list other integrated services and applications that when coupled with the use of the internet and its high number of users will increase the crime immensely. Lack of reporting some negative evidences collected from qualitative criminal

The Liberal Values of Washington Consensuses Term Paper

The Liberal Values of Washington Consensuses - Term Paper Example The feature of neo-liberalism, in general, is to expand the market and desire to intensify, increase the frequency, number, formalization, and repeatability of transactions. The crucial goal of neo-liberalism is a universe wherein every action of every individual is a trade transaction, performed in competition with the other individual and influence every transaction, with the transactions that occur in the infinitely shorter time period and reiterate at an infinitely rapid rate (Neoliberalism: Origins, Theory, Definition 2005). Â   Â   Â   Â   As a result of the General Agreement on Tariffs and Trade (GATT) negotiations, the rise of the World Trade Organization (WTO) was established in the year 1995. It is central to the development of global governance. The concern of WTO is to build a world trade system into a predictable and uniform arena for the world nations and businesses. Streamlining the trade policies of the nation-states, reducing barriers to trade among nation-states and resolving trading disputes are the responsibilities of WTO. It plays a significant role in preserving intellectual patents, rights and so forth. Â   Â   Â   Â   The World Bank and International Monetary Fund (IMF) also play a significant role in global governance. The IMF tries to make the International economy more translucent by imposing rules and is a lender to the countries that are undergoing a financial crisis. The World Bank reduces poverty to balance or diminish social division that may counterbalance the global integration of economies. Â   Â   Â   Â   Â   Since, the commencement of Westphalian International System that is International state system established in 1648 by Peace of Westphalia treaty as a defining feature of policy with the state sovereignty, the state has played a significant role in the system. The ideological cover of neo-liberal (deemphasizing the traditional liberal doctrine to get development by practical methods is accomplished due to the growth of globalization. The role of the state in the International system has undergone a drastic change. The ideology of neo-liberal states that market by it is a very significant institution (Christensen, Karen & Levinson, David 2003).

Chaleffs (1995) perception of leaders and followers Essay

Chaleffs (1995) perception of leaders and followers - Essay Example Leadership styles are an important component of a medical organization, but it is important to note that followers are responsible and determine their behaviour, which has an effect on service delivery. The relationship between a leader and a follower should be interrogated to ensure it is follower-centred for effectiveness and efficiency at a medical centre. Follower’s behaviours bear significant impacts owing to a leader’s style that is mediated by the self-determination of a follower. The confident demeanour of a leader can be cited as a factor contributing to their competence, but it can also be misconstrued to indicate a leader who stifles the participation of followers. It can be deduced that exhibition of nonverbal confident demeanour on the side of leaders contributes to decreased participation of followers in discussions (Chaleff, 2009). Staff nurses form an important component in any medical organization owing to the immense responsibilities they shoulder as they dedicate their services towards patient care. Nurses provide the direct contact between a medical organization and patients. This contact point is therefore, of immense importance in the promotion of values and policies upheld by hospital organizations. This in mind, the nursing fraternity within the organization is bound by some established structure, which is responsible for the oversight of responsibilities assigned to individual nurses. This hierarchal structure has clearly identified nurse leaders who work in tandem with other departments and report to the management of the organization (Chaleff, 2009). The clinical example to be cited is the routine activities of staff nurses who take care of the sick daily and are tasked with the responsibility of responding to emergencies. These staff nurses bear immense power collectively and as individuals and they determine the success or failure of a medical organization. The management of hospitals including nurse

Market Research Essay Example for Free

Market Research Essay The management process through which goods and services move from concept to the customer. As a practice, it consists in coordination of four elements called 4Ps: (1) identification, selection, and development of a product, (2) determination of its price, (3) selection of a distribution channel to reach the customers place, and (4) development and implementation of a promotional strategy. As a philosophy, marketing is based on thinking about the business in terms of customer needs and their satisfaction. Marketing differs from selling because (in the words of Harvard Business Schools emeritus professor of marketing Theodore C. Levitt) Selling concerns itself with the tricks and techniques of getting people to exchange their cash for your product. It is not concerned with the values that the exchange is all about. And it does not, as marketing invariably does, view the entire business process as consisting of a tightly integrated effort to discover, create, arouse, and satisfy customer needs. Read more: http://www.businessdictionary.com/definition/marketing.html#ixzz25h1HF3mw Marketing, Advertising and Sales a definition Marketing is not advertising. Marketing is finding out what people want, why they want it and how much they’ll spend. Dont confuse marketing with advertising. Advertising is the promotion of a service or product or company. It features a strong call to action and promotes the benefits of that being advertised. . Product/Service †¢ What does the customer want from the product/service? What needs does it satisfy? †¢What features does it have to meet these needs? †¢Are there any features youve missed out? †¢Are you including costly features that the customer wont actually use? †¢How and where will the customer use it? †¢What does it look like? How will customers experience it? †¢What size(s), color(s), and so on, should it be? †¢What is it to be called? †¢How is it branded? †¢How is it differentiated versus your competitors? †¢What is the most it can cost to provide, and still be sold sufficiently profitably? (See also Price, below). Place †¢ Where do buyers look for your product or service? †¢If they look in a store, what kind? A specialist boutique or in a supermarket, or both? Or online? Or direct, via a catalogue? †¢How can you access the right distribution channels? †¢Do you need to use a sales force? Or attend trade fairs? Or make online submissions? Or send samples to catalogue companies? †¢What do you competitors do, and how can you learn from that and/or differentiate? Price †¢ What is the value of the product or service to the buyer? †¢Are there established price points for products or services in this area? †¢Is the customer price sensitive? Will a small decrease in price gain you extra market share? Or will a small increase be indiscernible, and so gain you extra profit margin? †¢What discounts should be offered to trade customers, or to other specific segments of your market? †¢How will your price compare with your competitors? Promotion †¢ Where and when can you get across your marketing messages to your target market? †¢Will you reach your audience by advertising in the press, or on TV, or radio, or on billboards? By using direct marketing mailshot? Through PR? On the Internet? †¢When is the best time to promote? Is there seasonality in the market? Are there any wider environmental issues that suggest or dictate the timing of your market launch, or the timing of subsequent promotions? †¢How do your competitors do their promotions? And how does that influence your choice of promotional activity? The 4Ps model is just one of many marketing mix lists that have been developed over the years. And, whilst the questions we have listed above are key, they are just a subset of the detailed probing that may be required to optimize your marketing mix. Amongst the other marketing mix models have been developed over the years is Boom and Bitners 7Ps, sometimes called the extended marketing mix, which include the first 4 Ps, plus people, processes and physical layout decisions.

Bioethanol: Not a Viable Alternative :: Ethanol is Not the Solution

The world has begun to realize the importance of finding sustainable, renewable forms of energy. One of the most highly prioritized forms of energy is liquid, so that we can begin to manage our dependency on fossil energy. In the midst of this search, ethanol, a fuel additive which can be utilized in a variety of vehicles has become a popular alternative to fossil fuel. Many view Ethanol as the fuel of the future. Bioethanol, which is currently the most prominent type of ethanol, is made from the fermentation process of crops such as sugar or corn. This can be done in two ways, through dry or wet milling, the main difference between the two being that in dry milling the grains are mashed together, while in wet milling they are soaked in water for 24-48 hours before the process begins. Both of these processes generate C02 emissions; however the C02 is generally captured and used for other things(1). Many nations, with the United States and Brazil leading in production, have begun to use Ethanol fuel as a renewable liquid energy source. Over the past six years ethanol production in the United States has nearly quadrupled, and the government is spending over three billion dollars in subsidies for the industry(1). However many people believe that the numerous drawbacks of actually producing and utilizing Ethanol outweigh these benefits, and that we should divert our attention and funding towards more viable renewable resources. The benefits of ethanol fuel seem to be fairly straightforward. The most popular reason cited for using bioethanol is that because it contains a high level of oxygen it is more clean burning than straight gasoline. According to some estimates "ethanol use in the U.S. reduced CO2-equivalent greenhouse gas emissions by approximately 7 million tons", and is expected to reduce emissions by 1.7 billion tons by the year 2050(2). Such a dramatic reduction of ozone forming materials helps to improve air quality in cities where the fuel is used. Ethanol also does not contain many of the toxins that fossil based gasoline does, making it more biodegradable and safer in the instance of a spill(3). Additionally corn-based fuels are renewable, we have the capabilities to grow large amounts of corn, whereas we cannot produce anymore fossil energy and are limited by the supplies that we already have. The idea that ethanol is a clean burning, renewable resource sounds lovely in theory, however in practice Ethanol isn't particularly sustainable.

Majority rule, minority rights

Throughout history, there has been an understanding between the government of state and its constituents. From the times where such philosophers as Thomas Hobbes and John Locke put forth their respective theories of a state of nature and social contract, mankind has been enthralled with the separation of government and the population it controlled. John Locke proposed that there has always been a need for a â€Å"social contract†-that is an understanding between the government and the people for the sole reason of protection and organization. Even in the early days of the roughly adhesive Babylonian governments, the people strove for organization and protection of their property. Before that, according to Hobbies, the people of the world existed in what he called a â€Å"state of nature.† This state of nature existed before the population of an area realized the need for a structure and a steady way of life. They may have been fed up with the plundering of their land. Lock explains that the constituency gave up the rights to rape, murder, and steal in order for protection of property. With this action, the people put what they thought to be an equal balance of power into the government's hands. The government, acting as a whole body, has seemed to, throughout time, take advantage of the people that it represented. This paper will attempt to show how this feeling of superiority that governments have purveyed through the history of the United States. In 1894, there was a strike of Pullman Palace car factory workers outside of Chicago. These workers belonged to the American Railway Union. The union decided to refuse to move trains with the Pullman Cars thus shutting down virtually all railways in and out of Chicago. This caused much strife between the workers and the government. This was the first time that the government had to get a federal court injunction to make the workers go back to work. (Miller 1996) The reason that the government needed the injunction was because the Pullman workers were responsible for mail delivery. The workers ignored the injunction thus prompting President Cleveland to send US troops to quell the strike. This move worked and ended the strike. The government displayed its power against its people. It had to choose between the rights of the union to strike and the need of the population to get its mail. There were other incidents that have also displayed these tensions of government choosing between majority rule and minority rights. (Strom 1990) There was, for instance, the Red Scare of 1919. Before the Russian Revolution, the citizens of the United States were able to believe in any political system they wanted. They were not just held to taking capitalism as the â€Å"way to go.† One such group was a group that came to be known as the Wobbles. This group was a band of young, radical individuals who were basically fed up with American Federation of Labor. They felt that you were owned, so to speak, by your boss. Through the readings of Karl Marx, many were led to believe that Communism was the correct route for social and economic prosperity. When the Russian Revolution occurred in 1917, the United States passed a string of laws, both on the federal level and state level that prevented these Communist beliefs from seeping any further into the common American psyche. Many of the Wobblies were consequently arrested for nonsensical reasons. Many states opted to adopt laws that made the Wobblies illegal and forced it to go underground. Because of the national scare of the spread of any type of Communism, the government was forced to take extreme measures to stop any part of it from spreading. This is a clear example of how tensions grew out of the governments need to chose between majority rule, (in this case the common citizen), and minority rights, (in this case the Wobblies). There were other incidents that portrayed these tensions. One such incident being McCarthyism of the 1950's. In the mid 1940's, after the end of WWII, the United States and the other democracies of the world began moving apart from the new Russia. One reason for this was the Berlin Airlift where Russia sectioned off their part of the conquered Berlin, Germany and would not let any other allies in. This was the start of the cold war. The cold war was a fighting war. It was a war of the proverbial â€Å"cold shoulder.† In 1950, under growing public pressure, the United States passed the Internal Security Act over President Truman's veto. This law required Communists and Communist Organizations to register with the US government. (Miller 1980) It called for deportation of Communist immigrants and prohibited the immigration of anyone who had belonged to a Communist Party. Now persons who had once been a communist, had been associated with communists, or just were radical, were subjected to intense investigations both private and public. Many were fired from their jobs due to this. Senator Joseph McCarthy conducted what he dubbed the Red Hunt which ultimately failed due to his lack of evidence and his butchering of the truth. He had gone too far and was reprimanded by the Congress for actions that were not becoming of a senator. All of these actions taken by the government evoked not only its dislike for Communism but also how its ear was always open and adjusted for the majority. These poor people were not given a chance to live private lives and practice what they believed to be true. In conclusion, it has been shown, throughout the history of the United States, that the majority of many take precedence of the minority of the few. No matter whose views are correct and just, a person's views should not be suppressed and condemned by many. That person should also not have to go through the persecution and embarrassment of this shunning. Those who survived it are heroes. References Miller, N. 1980. â€Å"A New Solution Set for Tournaments and Majority Voting: Further Graph-Theoretical Approaches to the Theory of Voting.† American Journal of Political Science 24.1:68-96 Miller, N. 1996. â€Å"Majority Rule and Minority Interests.† In Shapiro, I. and Hardin, R. eds. PoliticalOrder: Nomos XXXVIII. New York: New York University Press Strom, K. 1990. Minority Government and Majority Rule. Cambridge: Cambridge University Press

Portfolio Management

A PROJECT REPORT ON PORTFOLIO MANAGEMENT AT SHAREKHAN LTD HYDERABAD A PROJECT REPORT SUBMITTED TO [pic] OSMANIA UNIVERSITY HYDERABAD IN PARTIAL FULFILLMENT OF THE REQUIREMENTS FOR THE AWARD OF THE DEGREE IN MASTER OF BUSINESS ADMINISTRATION SUBMITTED BY SAFIA MOHAMMADI 1238-11-672-015 VILLA MARIE PG COLLEGE FOR WOMEN SOMAJIGUDA- 82 2011-2013 By DEPARTMENT OF BUSINESS ADMINISTRTIONVILLA MARIE POST GRADUATE COLLEGE, SOMAJIGUDA (Affiliated to Osmania University) 2011-2013 DECLARATION I SAFIA MOHAMMADI student of Master of Business Administration, VILLA MARIE PG COLLEGE FOR WOMEN, hereby declare that the project report entitled â€Å"PORTFOLIO MANAGEMENT† has been carried out at â€Å"SHAREKHAN LTD† and submitted in partial fulfillment for the â€Å"Master’s Degree in Business Administration† in the result of my own work and is original. I have not submitted this project to any other university or college for the award of any other degree or Diploma.SAFIA MOH AMMADI ACKNOWLEDGEMENT A project is never the  work of an individual. It is  moreover a combination of ideas, suggestions, review, contribution and work involving many folks. It cannot be completed without guidelines. I wish to express my gratitude to all those who have made significant contribution to the development and presentation of this project. I express my sense of profound gratitude to the Management of â€Å"SHAREKHAN LTD†, Hyderabad for giving me this opportunity to conduct a study on Portfolio Management in their esteemed organization.My sincere thanks to Mr. DEEPAK, Manager and Ms. SWATHI BASA, Assistant Manager for permitting me to pursue this project and for providing their valuable time, suggestions and support for completing my project work successfully. Their patience and invaluable guidance have proved to be very precious without which this project would not be completed. Acknowledgements are also due to all the other staff members and executives in Sha rekhan Ltd. , for providing information at various points of the project, especially the discussions on the market.I am thankful to our Principal and also I would also like to thank my project guide and all the faculty members of the college for guiding me throughout the process. I also wish to extend my sincere acknowledgement to my parents for their moral and financial support. Lastly, I am indebted to the friends and will-wishers who have extended their support to me during the project. Place: Hyderabad SAFIA MOHAMMADI INDEX | | | |LIST OF CONTENTS |PAGE NO. | | | |CHAPTER-1 | | | | | |INTRODUCTION | | | | | |NEED AND IMPORTANCE OF THE STUDY | | | | | |OBJECTIVE OF THE STUDY | | | | |SCOPE OF THE STUDY | | | | | |DATA COLLECTION METHODS | | | | | |LIMITATIONS OF THE STUDY | | | | | |CHAPTER-2 | | |REVIEW OF LITERATURE | | | | | |CHAPTER-3 | | |COMPANY PROFILE | | | | | |CHAPTER-4 | | |DATA ANALYSIS AND INTERPRETATION | | | | | |CHAPTER-5 | | |CONCLUSION AND SUGGES TIONS | | | | | |QUESTIONNAIRE | | | | | |BIBLIOGRAPHY | | CHAPTER-1 INTRODUCTION PORTFOLIO MANAGEMENT: A portfolio is a collection of assets. The assets may be physical or financial like Shares, Bonds, Debentures, Preference Shares, etc. The individual investor or a fund manager would not like to put all his money in the shares of one company that would amount to great risk.He would therefore, follow the age old maxim that one should not put all the eggs into one basket. By doing so, he can achieve objective to maximize portfolio return and at the same time minimizing the portfolio risk by diversification. Investment may be defined as an activity that commits funds in any financial form in the present with an expectation of receiving additional return in the future. The expectations bring with it a probability that the quantum of return may vary from a minimum to a maximum. This possibility of variation in the actual return is known as investment risk. Thus every investment invo lves a return and risk. Investment is an activity that is undertaken by those who have savings.Savings can be defined as the excess of income over expenditure. An investor earns/expects to earn additional monetary value from the mode of investment that could be in the form of financial assets. The three important characteristics of any financial asset are: †¢ Return-the potential return possible from an asset. †¢ Risk-the variability in returns of the asset form the chances of its value going down/up. †¢ Liquidity-the ease with which an asset can be converted into cash. Investors tend to look at these three characteristics while deciding on their individual preference pattern of investments. Each financial asset will have a certain level of each of these characteristics.An investor invests his funds in portfolio expecting to get a good return consistent with the risk that he has to beat. Portfolio management comprises all the processes involved in the creation & maint enance of an investment portfolio. It deals specifically with Security Analysis, Portfolio Analysis, Selection and Revision & Evaluation. Portfolio Management is a complex process, which tries to make investment activity more rewarding & less risky. ? Portfolio management is the management of various financial assets which comprise the portfolio. ? Portfolio management is a decision – support system that is designed with a view to meet the multi-faced needs of investors.According to Securities and Exchange Board of India Portfolio is defined as: â€Å"portfolio means the total holdings of securities belonging to any person†. ? PORTFOLIO MANAGER means any person who pursuant to a contract or arrangement with a client, advises or directs or undertakes on behalf of the client (whether as a discretionary portfolio manager or otherwise) the management or administration of a portfolio of securities or the funds of the client. ? DISCRETIONARY PORTFOLIO MANAGER means a portfol io manager who exercises or may, under a contract relating to portfolio management exercises any degree of discretion as to the investments or management of the portfolio of securities or the funds of the client. Investment avenuesThere are a large number of investment avenues for savers in India. Some of them are marketable and liquid, while others are non-marketable. Some of them are highly risky while some others are almost risk less. Investment avenues can be broadly categorized under the following head. 1. Corporate securities 2. Equity shares. 3. Preference shares. 4. Debentures/Bonds. 5. Derivatives. 6. Others. Joint stock companies in the private sector issue corporate securities. These include equity shares, preference shares, and debentures. Equity shares have variable dividend and hence belong to the high risk-high return category; preference shares and debentures have fixed returns with lower risk.The classification of corporate securities that can be chosen as investmen t avenues can be depicted as shown below: DESIGN OF STUDY NEED AND IMPORTANCE OF THE STUDY †¢ Portfolio management presents the  best investment plan  to the individuals as per their income, budget, age and ability to undertake risks. †¢ Portfolio management  minimizes the risks  involved in investing and also increases the chance of making profits. †¢ Portfolio managers understand the client’s financial needs and suggest the best and unique investment policy for them with minimum risks involved. †¢ It enables the portfolio managers to  provide customized investment solutions  to clients as per their needs and requirements. It also focuses on important aspects like Stability of Income, Capital Growth, Liquidity, Safety, Tax Incentives, etc. †¢ Main goals of Portfolio Management are To Maximize the value of the portfolio, To Seek balance  in the portfolio and To Keep portfolio projects strategically  aligned OBJECTIVES OF THE STUDY: â⠂¬ ¢ To provide the material frame work of Portfolio Management †¢ To understand how to analyze securities †¢ To know how portfolio management is done. †¢ To study the investment pattern and its related risks & returns. †¢ To help the investors to choose wisely between alternative investment. †¢ To understand, analyze and select the best portfolio. To strike balance between costs of funds, risks and returns. †¢ To find out optimal portfolio, which gives optimal return at a minimize risk to the investor. †¢ To see whether the portfolio risk is less than individual risk on whose basis the portfolios are constituted SCOPE OF THE STUDY: †¢ This study covers the Markowitz model. The study covers the calculation of correlations between the different securities in order to find out at what percentage funds should be invested among the companies in the portfolio. Also the study includes the calculation of individual Standard Deviation of securities an d ends at the calculation of weights of individual securities involved in the portfolio.These percentages help in allocating the funds available for investment based on risky portfolios. METHODOLOGY: Sources of Data Collection The Methodology employed in this study data include both the primary and secondary collection methods. Primary collection methods: This method includes the data collected from the personal discussion with the authorized clerks and members of the exchange. Secondary data collection: It includes the following: †¢ Companies Annual Reports †¢ Information From Internet †¢ Publication †¢ Information provided by Stock Exchanges. Period of Study For different companies, financial data has been collected from the year 2007- 2012 Selection of CompaniesCompanies selected for analysis are:- o Wipro o Indian Tobacco Corporation o Dr. Reddy Laboratories o ACC o Bharat Heavy Electricals LIMITATIONS OF THE STUDY: †¢ This study has been conducted purel y to understand portfolio management for investor and is done for requirement of Certificate of MBA. †¢ For study purpose 5 companies have been taken for calculations. †¢ Study is limited to period from 2007-2012. †¢ There was a constraint with regard to time allocated for the research study, period of one and half month. †¢ Study is limited to only first 3 steps of phrases of portfolio management. †¢ Detailed study of the topic was not possible due to limited size of project. The availability of information in the form of annual reports and price fluctuations of the companies was a big constraint to the study. CHAPTER-2 REVIEW OF LITERATURE INTRODUCTION TO PORTFOLIO MANAGEMENT The term Portfolio refers to any collection of financial assets such as stocks, bonds, and cash. Portfolios may be held by individual investors and/or managed by financial professionals, hedge funds, banks and other financial institutions. It is a generally accepted principle that a p ortfolio is designed according to the investor’s risk tolerance, time frame and investment objectives. Portfolio management is all about strengths, weaknesses, opportunities and threats in the choice of debt vs. equity, domestic vs. nternational, growth vs. safety, and many other tradeoffs encountered in the attempt to maximize return at a given appetite for risk. The art and science of making decisions about investment mix and policy, matching investments to objectives, asset allocation for individuals and institutions, and balancing risk against performance is known as Portfolio Management. ? PORTFOLIO MANAGER means any person who pursuant to a contract or arrangement with a client, advises or directs or undertakes on behalf of the client (whether as a discretionary portfolio manager or otherwise) the management or administration of a portfolio of securities or the funds of the client. DISCRETIONARY PORTFOLIO MANAGER means a portfolio manager who exercises or may, under a c ontract relating to portfolio management exercises any degree of discretion as to the investments or management of the portfolio of securities or the funds of the client. FUNCTIONS OF PORTFOLIO MANAGEMENT: ? To frame the investment strategy and select an investment mix to achieve the desired investment objectives ? To provide a balanced portfolio which not only can hedge against the inflation but can also optimize returns with the associated degree of risk ? To make timely buying and selling of securities ? To maximize the after-tax return by investing in various tax saving investment instruments.STRUCTURE / PROCESS OF TYPICAL PORTFOLIO MANAGEMENT In the small firm, the portfolio manager performs the job of security analyst. In the case of medium and large sized organizations, job function of portfolio manager and security analyst are separate. CHARACTERISTICS OF PORTFOLIO MANAGEMENT: Individuals will benefit immensely by taking portfolio management services for the following reason s: ? Whatever may be the status of the capital market, over the long period capital markets have given an excellent return when compared to other forms of investment. The return from bank deposits, units, etc. , is much less than from the stock market. ? The Indian Stock Markets are very complicated.Though there are thousands of companies that are listed only a few hundred which have the necessary liquidity. Even among these, only some have the growth prospects which are conducive for investment. It is impossible for any individual wishing to invest and sit down and analyse all these intricacies of the market unless he does nothing else. ? Even if an investor is able to understand the intricacies of the market and separate chaff from the grain the trading practices in India are so complicated that it is really a difficult task for an investor to trade in all the major exchanges of India, look after his deliveries and payments. TYPES OF PORTFOLIO MANAGEMENT: Discretionary Portfolio M anagement Service(DPMS):In this type of service, the client parts with his money in favour of the manager, who in return, handles all the paper work, makes all the decisions and gives a good return on the investment and charges fee. In the Discretionary Portfolio Management Service, to maximize the yield, almost all portfolio managers park the funds in the money market securities such as overnight market, 18 days treasury bills and 90 days commercial bills. Normally, the return of such investment varies from 14 to 18 percent, depending on the call money rates prevailing at the time of investment. 2. Non-Discretionary Portfolio Management Service(NDPMS): The manager functions as a counselor, but the investor is free to accept or reject the manager‘s advice; the paper work is also undertaken by manager for a service charge.The manager concentrates on stock market instruments with a portfolio tailor-made to the risk taking ability of the investor. Risk of Portfolio Management The re was a time when portfolio management was an exotic term. The scenario has changed drastically. It is now a familiar term and is widely practiced in India. The theories and concepts relating to portfolio management now find their way to the front pages financial newspapers and the cover pages of investments journals in India. Capital markets have become active. The Indian stock markets are steadily moving towards efficiency, with rapid computerization, increasing higher market transparency, better infrastructure, better customer service etc.The markets are mutual funds have been set up the country since1987. With this development investment in securities has gained considered momentum. Professional portfolio management backed by competent research began to be practiced by mutual funds, investment consultant and big brokers. The Securities Exchange Board of India (SEBI), The Stock Market Regulatory body in India is supervising the whole process. IMPORTANCE OF PORTFOLIO MANAGEMENT: ? Emergence of institutional investing on behalf of individuals. A number of financial institutions, mutual funds and other agencies are undertaking the task of investing money of small investors, on their behalf. Growth in the number and size of investible funds – a large part of household savings is being directed towards financial assets. ? Increased market volatility – risk and return parameters of financial assets are continuously changing because of frequent changes in government‘s industrial and fiscal policies, economic uncertainty and instability. ? Greater use of computers for processing mass of data. ? Professionalization of the field and increasing use of analytical methods (e. g. quantitative techniques) in the investment decision – making ? Larger direct and indirect costs of errors or shortfalls in meeting portfolio objectives – increased competition and greater scrutiny by investors.STEPS IN PORTFOLIO MANAGEMENT: ? Specification and qualification of investor objectives, constraints, and preferences in the form of an investment policy statement. ? Determination and qualification of capital market expectations for the economy, market sectors, industries and individual securities. ? Allocation of assets and determination of appropriate portfolio strategies for each asset class and selection of individual securities. ? Performance measurement and evaluation to ensure attainment of investor objectives. ? Monitoring portfolio factors and responding to changes in investor objectives, constrains and / or capital market expectations. Rebalancing the portfolio when necessary by repeating the asset allocation, portfolio strategy and security selection. CRITERIA FOR PORTFOLIO DECISIONS: †¢ In portfolio management emphasis is put on identifying the collective importance of all investor’s holdings. The emphasis shifts from individual assets selection to a more balanced emphasis on diversification and risk-return interrelationships of individual assets within the portfolio. Individual securities are important only to the extent they affect the aggregate portfolio. In short, all decisions should focus on the impact which the decision will have on the aggregate portfolio of all the assets held. †¢ Portfolio strategy should be molded to the unique needs and characteristics of the portfolio‘s owner. Diversification across securities will reduce a portfolio‘s risk. If the risk and return are lower than the desired level, leverages (borrowing) can be used to achieve the desired level. †¢ Larger portfolio returns come only with larger portfolio risk. The most important decision to make is the amount of risk which is acceptable. †¢ The risk associated with a security type depends on when the investment will be liquidated. Risk is reduced by selecting securities with a payoff close to when the portfolio is to be liquidated. QUALITIES OF PORTFOLIO MANAGER: 1. SOUND GENERAL K NOWLEDGE: Portfolio management is an exciting and challenging job. He has to work in an extremely uncertain and confliction environment.In the stock market every new piece of information affects the value of the securities of different industries in a different way. He must be able to judge and predict the effects of the information he gets. He must have sharp memory, alertness, fast intuition and self-confidence to arrive at quick decisions. 2. ANALYTICAL ABILITY: He must have his own theory to arrive at the intrinsic value of the security. An analysis of the security‘s values, company, etc. is s continuous job of the portfolio manager. A good analyst makes a good financial consultant. The analyst can know the strengths, weaknesses, opportunities of the economy, industry and the company. 3. MARKETING SKILLS: He must be good salesman. He has to convince the clients about the particular security.He has to compete with the stock brokers in the stock market. In this context, the marketing skills help him a lot. 4. EXPERIENCE: In the cyclical behavior of the stock market history is often repeated, therefore the experience of the different phases helps to make rational decisions. The experience of the different types of securities, clients, market trends, etc. , makes a perfect professional manager. PORTFOLIO BUILDING: Portfolio decisions for an individual investor are influenced by a wide variety of factors. Individuals differ greatly in their circumstances and therefore, a financial programme well suited to one individual may be inappropriate for another.Ideally, an individual‘s portfolio should be tailor-made to fit one‘s individual needs. Investor‘s Characteristics: An analysis of an individual‘s investment situation requires a study of personal characteristics such as age, health conditions, personal habits, family responsibilities, business or professional situation, and tax status, all of which affect the investor‘s willin gness to assume risk. Stage in the Life Cycle: One of the most important factors affecting the individual‘s investment objective is his stage in the life cycle. A young person may put greater emphasis on growth and lesser emphasis on liquidity. He can afford to wait for realization of capital gains as his time horizon is large. Family responsibilities:The investor‘s marital status and his responsibilities towards other members of the family can have a large impact on his investment needs and goals. Investor‘s experience: The success of portfolio depends upon the investor‘s knowledge and experience in financial matters. If an investor has an aptitude for financial affairs, he may wish to be more aggressive in his investments. Attitude towards Risk: A person‘s psychological make-up and financial position dictate his ability to assume the risk. Different kinds of securities have different kinds of risks. The higher the risk, the greater the opportunity for higher gain or loss. Liquidity Needs: Liquidity needs vary considerably among individual investors.Investors with regular income from other sources may not worry much about instantaneous liquidity, but individuals who depend heavily upon investment for meeting their general or specific needs, must plan portfolio to match their liquidity needs. Liquidity can be obtained in two ways: 1. by allocating an appropriate percentage of the portfolio to bank deposits, and 2. by requiring that bonds and equities purchased be highly marketable. Tax considerations: Since different individuals, depending upon their incomes, are subjected to different marginal rates of taxes, tax considerations become most important factor in individual‘s portfolio strategy. There are differing tax treatments for investment in various kinds of assets. Time Horizon:In investment planning, time horizon become an important consideration. It is highly variable from individual to individual. Individuals in their young age have long time horizon for planning, they can smooth out and absorb the ups and downs of risky combination. Individuals who are old have smaller time horizon, they generally tend to avoid volatile portfolios. Individual‘s Financial Objectives: In the initial stages, the primary objective of an individual could be to accumulate wealth via regular monthly savings and have an investment programme to achieve long term capital gains. Safety of Principal: The protection of the rupee value of the investment is of prime importance to most investors.The original investment can be recovered only if the security can be readily sold in the market without much loss of value. Assurance of Income: `Different investors have different current income needs. If an individual is dependent of its investment income for current consumption then income received now in the form of dividend and interest payments become primary objective. Investment Risk: All investment decisions revolve arou nd the trade-off between risk and return. All rational investors want a substantial return from their investment. An ability to understand, measure and properly manage investment risk is fundamental to any intelligent investor or a speculator.Frequently, the risk associated with security investment is ignored and only the rewards are emphasized. An investor who does not fully appreciate the risks in security investments will find it difficult to obtain continuing positive results. RISK AND EXPECTED RETURN: There is a positive relationship between the amount of risk and the amount of expected return i. e. , the greater the risk, the larger the expected return and larger the chances of substantial loss. One of the most difficult problems for an investor is to estimate the highest level of risk he is able to assume. [pic] TYPES OF RISKS:- Risk consists of two components. They are 1. Systematic Risk 2. Un-systematic Risk 1. Systematic Risk:Systematic risk is caused by factors external t o the particular company and uncontrollable by the company. The systematic risk affects the market as a whole. Factors affect the systematic risk are ? economic conditions ? political conditions ? sociological changes The systematic risk is unavoidable. Systematic risk is further sub-divided into three types. They are a) Market Risk b) Interest Rate Risk c) Purchasing Power Risk a) Market Risk: One would notice that when the stock market surges up, most stocks post higher price. On the other hand, when the market falls sharply, most common stocks will drop. It is not uncommon to find stock prices falling from time to time while a company‘s earnings are rising and vice-versa.The price of stock may fluctuate widely within a short time even though earnings remain unchanged or relatively stable b) Interest Rate Risk: Interest rate risk is the risk of loss of principal brought about the changes in the interest rate paid on new securities currently being issued. c) Purchasing Power Risk: The typical investor seeks an investment which will give him current income and / or capital appreciation in addition to his original investment. 2. Un-systematic Risk: Un-systematic risk is unique and peculiar to a firm or an industry. The nature and mode of raising finance and paying back the loans, involve the risk element. Financial leverage of the companies that is debt-equity portion of the companies differs from each other.All these factors Factors affect the un-systematic risk and contribute a portion in the total variability of the return. ? Managerial inefficiently ? Technological change in the production process ? Availability of raw materials ? Changes in the consumer preference ? Labour problems The nature and magnitude of the above mentioned factors differ from industry to industry and company to company. They have to be analyzed separately for each industry and firm. Un-systematic risk can be broadly classified into: a) Business Risk b) Financial Risk a. Busines s Risk: Business risk is that portion of the unsystematic risk caused by the operating environment of the business.Business risk arises from the inability of a firm to maintain its competitive edge and growth or stability of the earnings. The volatibility in stock prices due to factors intrinsic to the company itself is known as Business risk. Business risk is concerned with the difference between revenue and earnings before interest and tax. Business risk can be divided into. i) Internal Business Risk Internal business risk is associated with the operational efficiency of the firm. The operational efficiency differs from company to company. The efficiency of operation is reflected on the company‘s achievement of its pre-set goals and the fulfillment of the promises to its investors. ii)External Business RiskExternal business risk is the result of operating conditions imposed on the firm by circumstances beyond its control. The external environments in which it operates exert some pressure on the firm. The external factors are social and regulatory factors, monetary and fiscal policies of the government, business cycle and the general economic environment within which a firm or an industry operates. b. Financial Risk: It refers to the variability of the income to the equity capital due to the debt capital. Financial risk in a company is associated with the capital structure of the company. Capital structure of the company consists of equity funds and borrowed funds. PORTFOLIO ANALYSIS:Various groups of securities when held together behave in a different manner and give interest payments and dividends also, which are different to the analysis of individual securities. A combination of securities held together will give a beneficial result if they are grouped in a manner to secure higher return after taking into consideration the risk element. SELECTION OF PROTFOLIO: The selection of portfolio depends on the various objectives of the investor. The selectio n of portfolio under different objectives are dealt subsequently. Objectives and asset mix: if the main objective is getting adequate amount of current income, sixty per cent of the investment is made on debts and 40 per cent on equities. The proportions of investments on debt and equity differ according to the individual’s preferences.Growth of income and asset mix: Here the investor requires a certain percentage of growth in the income received from his investment. The debt portion of the portfolio may consist of 60 to 100 percent equities and 0 to 40 percent debt instrument. The debt portion of the portfolio may consist of concession regarding tax exemption. Appreciation of principal amount is given third priority. For example computer software, hardware and non-conventional energy producing company shares provides good possibility of growth in dividend. Capital appreciation and asset mix: Capital appreciation means that the valu of the original investment increases over t he years.Investment in real estates like land and house may provide a faster rate of capital appreciation but they lack liquidity. In the capital market, the values of the shares are much higher than their original issue prices. Safety of principal and asset mix: Usually, the risk averse investors are very particular about the stability of principal. According to the life cycle theory, people in the third stage of life also give more importance to the safety of the principal. All the investors have this objective in their mind. No one like to lose his money invested in different assets. Risk and return analysis: The traditional approach to portfolio building has some basic assumptions. First, the individual prefers larger to smaller returns from securities.To achieve this goal, the investor has to take more risk. The ability to achieve higher returns is dependent upon his ability to judge risk and his ability to take specific risks. Diversification: Once the asset mix is determined and the risk and return are analyzed, the final step is the diversification of portfolio. Financial risk can be minimized by commitments to top-quality bonds, but these securities offer poor resistance to inflation. Stocks provide better inflation protection than bonds but are more vulnerable to financial risks. PORTFOLIO CONSTRUCTION: Portfolio is a combination of securities such as stocks, bonds and money market instruments.The process of blending together the broad asset so as to obtain optimum return with minimum risk is called portfolio construction. Diversification of investments helps to spread risk over many assets. A diversification of securities gives the assurance of obtaining the anticipated return on the portfolio. APPROACHES IN PORTFOLIO CONSTRUCTION: There are two approaches in construction of the portfolio of securities. They are ? Traditional approach ? Modern approach TRADITIONAL APPROACH: Traditional approach was based on the fact that risk could be measured on ea ch individual security through the process of finding out the standard deviation and that security should be chosen where the deviation was the lowest.Traditional approach believes that the market is inefficient and the fundamental analyst can take advantage of the situation. Traditional approach is a comprehensive financial plan for the individual. It takes into account the individual needs such as housing, life insurance and pension plans. Traditional approach basically deals with two major decisions. They are a) Determining the objectives of the portfolio b) Selection of securities to be included in the portfolio MODERN APPROACH: Modern approach theory was brought out by Markowitz and Sharpe. It is the combination of securities to get the most efficient portfolio. Combination of securities can be made in many ways. Markowitz developed the theory of diversification through scientific reasoning and method.Modern portfolio theory believes in the maximization of return through a comb ination of securities. The modern approach discusses the relationship between different securities and then draws inter-relationships of risks between them. Markowitz gives more attention to the process of selecting the portfolio. It does not deal with the individual needs. In the modern approach, the final step is asset allocation process that is to choose the portfolio that meets he requirement of the investor. The risk taker i. e. who are willing to accept a higher probability of risk for getting the expected return would choose high risk portfolio. Investor with lower tolerance for risk would choose low level risk portfolio.The risk neutral investor would choose the medium level risk portfolio. MARKOWITZ MODEL: Harry Markowitz opened new vistas to modern portfolio selection by publishing an article in the journal of Finance in March 1952. His publication indicated the importance of correlation among the different stocks reruns in the construction of a stock portfolio. Most peopl e agree that holding two stocks is less risky than holding one stock. For example, holding stocks from textile, banking, and electronic companies is better than investing all the money on the textile company’s stock. But building up the optimal portfolio is very difficult. Markowitz provides an answer to it with the help of risk and return relationship.Markowitz model is a theoretical framework for analysis of risk and return and their relationships. He used statistical analysis for the measurement of risk and mathematical programming for selection of assets in a portfolio in an efficient manner. Markowitz approach determines for the investor the efficient set of portfolio through three important variables i. e. ? Return ? Standard deviation ? Co-efficient of correlation Markowitz model is also called as an â€Å"Full Covariance Modelâ€Å". Through this model the investor can find out the efficient set of portfolio by finding out the tradeoff between risk and return, betwe en the limits of zero and infinity.According to this theory, the effects of one security purchase over the effects of the other security purchase are taken into consideration and then the results are evaluated. Most people agree that holding two stocks is less risky than holding one stock. For example, holding stocks from textile, banking and electronic companies is better than investing all the money on the textile company‘s stock. Markowitz had given up the single stock portfolio and introduced diversification. The single stock portfolio would be preferable if the investor is perfectly certain that his expectation of highest return would turn out to be real. In the world of uncertainty, most of the risk adverse investors would like to join Markowitz rather than keeping a single stock, because diversification reduces the risk. ASSUMPTIONS: All investors would like to earn the maximum rate of return that they can achieve from their investments. ? All investors have the same ex pected single period investment horizon. ? All investors before making any investments have a common goal. This is the avoidance of risk because Investors are risk-averse. ? Investors base their investment decisions on the expected return and standard deviation of returns from a possible investment. ? Perfect markets are assumed (e. g. no taxes and no transaction costs). ? The investor assumes that greater or larger the return that he achieves on his investments, the higher the risk factor surrounds him. On the contrary when risks are low the return can also be expected to be low. The investor can reduce his risk if he adds investments to his portfolio. ? An investor should be able to get higher return for each level of risk â€Å"by determining the efficient set of securitiesâ€Å". ? An individual seller or buyer cannot affect the price of a stock. This assumption is the basic assumption of the perfectly competitive market. ? Investors make their decisions only on the basis of t he expected returns, standard deviation and covariance’s of all pairs of securities. ? Investors are assumed to have homogenous expectations during the decision-making period. ? The investor can lend or borrow any amount of funds at the riskless rate of interest.The riskless rate of interest is the rate of interest offered for the treasury bills or Government securities. ? Investors are risk-averse, so when given a choice between two otherwise identical portfolios, they will choose the one with the lower standard deviation. ? Individual assets are infinitely divisible, meaning that an investor can buy a fraction of a share if he or she so desires. ? There is a risk free rate at which an investor may either lend (i. e. invest) money or borrow money and There is no transaction cost i. e. no cost involved in buying and selling of stocks. ? There is no personal income tax. Hence, the investor is indifferent to the form of return either capital gain or dividend.The Effect Of Combi ning Two Securities: It is believed that holding two securities is less risky than by having only one investment in a person‘s portfolio. When two stocks are taken on a portfolio and if they have negative correlation then risk can be completely reduced because the gain on one can offset the loss on the other. This can be shown with the help of following example: Inter-Active Risk Through Covariance: Covariance of the securities will help in finding out the inter-active risk. When the covariance will be positive then the rates of return of securities move together either upwards or downwards. Alternatively it can also be said that the inter-active risk is positive.Secondly, covariance will be zero on two investments if the rates of return are independent. Holding two securities may reduce the portfolio risk too. The portfolio risk can be calculated with the help of the following formula: CAPITAL ASSET PRICING MODEL (CAPM): Markowitz, William Sharpe, John Lintner and Jan Mossin provided the basic structure for the Capital Asset Pricing Model. It is a model of linear general equilibrium return. In the CAPM theory, the required rate return of an asset is having a linear relationship with asset‘s beta value i. e. undiversifiable or systematic risk (i. e. market related risk) because non market risk can be eliminated by diversification and systematic risk measured by beta.Therefore, the relationship between an assets return and its systematic risk can be expressed by the CAPM, which is also called the Security Market Line. Lending and borrowing:- Here, it is assumed that the investor could borrow or lend any amount of money at riskless rate of interest. When this opportunity is given to the investors, they can mix risk free assets with the risky assets in a portfolio to obtain a desired rate of risk-return combination. Rp =Portfolio return Xf =The proportion of funds invested in risk free assets 1- Xf = The proportion of funds invested in risky assets Rf =Risk free rate of return Rm =Return on risky assets The expected return on the combination of risky and risk free combination is Rp= Rf Xf+ Rm(1- Xf)Formula can be used to calculate the expected returns for different situations, like mixing riskless assets with risky assets, investing only in the risky asset and mixing the borrowing with risky assets. THE CONCEPT: According to CAPM, all investors hold only the market portfolio and risk less securities. The market portfolio is a portfolio comprised of all stocks in the market. Each asset is held in proportion to its market value to the total value of all risky assets. For example, if Reliance Industry share represents 15% of all risky assets, then the market portfolio of the individual investor contains 15% of Satyam Industry shares. At this stage, the investor has the ability to borrow or lend any amount of money at the risk less rate of interest. Eg. assume that borrowing and lending rate to be 12. 5% and the return from the risk y assets to be 20%. There is a tradeoff between the expected return and risk. If an investor invests in risk free assets and risky assets, his risk may be less than what he invests in the risky asset alone. But if he borrows to invest in risky assets, his risk would increase more than he invests his own money in the risky assets. When he borrows to invest, we call it financial leverage. If he invests 50% in risk free assets and 50% in risky assets, his expected return of the portfolio would be Rp= Rf Xf+ Rm(1- Xf) = (12. 5 x 0. 5) + 20 (1-0. 5) = 6. 25 + 10 = 16. 5% if there is a zero investment in risk free asset and 100% in risky asset, the return is Rp= Rf Xf+ Rm(1- Xf) = 0 + 20% i. e. 20% if -0. 5 in risk free asset and 1. 5 in risky asset, the return is Rp= Rf Xf+ Rm(1- Xf) = (12. 5 x -0. 5) + 20 (1. 5) = -6. 25+ 30 = 23. 75% EVALUATION OF PORTFOLIO: Portfolio manager evaluates his portfolio performance and identifies the sources of strengths and weakness. The evaluation of the portfolio provides a feedback about the performance to evolve better management strategy. Even though evaluation of portfolio performance is considered to be the last stage of investment process, it is a continuous process.There are number of situations in which an evaluation becomes necessary and important. i. Self-Valuation: An individual may want to evaluate how well he has done. This is a part of the process of refining his skills and improving his performance over a period of time. ii. Evaluation of Managers: A mutual fund or similar organization might want to evaluate its managers. A mutual fund may have several managers each running a separate fund or sub-fund. It is often necessary to compare the performance of these managers. iii. Evaluation of Mutual Funds: An investor may want to evaluate the various mutual funds operating in the country to decide which, if any, of these should be chosen for investment.A similar need arises in the case of individuals or organizations who engage external agencies for portfolio advisory services. iv. Evaluation of Groups: Academics or researchers may want to evaluate the performance of a whole group of investors and compare it with another group of investors who use different techniques or who have different skills or access to different information. NEED FOR EVALUATION OF PORTFOLIO: ? We can try to evaluate every transaction. Whenever a security is brought or sold, we can attempt to assess whether the decision was correct and profitable. ? We can try to evaluate the performance of a specific security in the portfolio to determine whether it has been worthwhile to include it in our portfolio. We can try to evaluate the performance of portfolio as a whole during the period without examining the performance of individual securities within the portfolio. Portfolio management has emerged as a separate academic discipline in India. Portfolio theory that deals with the rational investment decision-making process has now be come an integral part of financial literature. Investing in securities such as shares, debentures & bonds is profitable well as exciting. It is indeed rewarding but involves a great deal of risk & need artistic skill. Investing in financial securities is now considered to be one of the most risky avenues of investment. It is rare to find investors investing their entire savings in a single security. Instead, they tend to invest in a group of securities.Such group of securities is called as PORTFOLIO. Creation of portfolio helps to reduce risk without sacrificing returns. Portfolio management deals with the analysis of individual securities as well as with the theory & practice of optimally combining securities into portfolios. The modern theory is of the view that by diversification, risk can be reduced. The investor can make diversification either by having a large number of shares of companies in different regions, in different industries or those producing different types of prod uct lines. Modern theory believes in the perspective of combinations of securities under constraints of risk and return.PORTFOLIO REVISION: The portfolio which is once selected has to be continuously reviewed over a period of time and then revised depending on the objectives of the investor. The care taken in construction of portfolio should be extended to the review and revision of the portfolio. Fluctuations that occur in the equity prices cause substantial gain or loss to the investors. The investor should have competence and skill in the revision of the portfolio. The portfolio management process needs frequent changes in the composition of stocks and bonds. In securities, the type of securities to be held should be revised according to the portfolio policy.An investor purchases stock according to his objectives and return risk framework. The prices of stock that he purchases fluctuate, each stock having its own cycle of fluctuations. These price fluctuations may be related to e conomic activity in a country or due to other changed circumstances in the market. If an investor is able to forecast these changes by developing a framework for the future through careful analysis of the behavior and movement of stock prices is in a position to make higher profit than if he was to simply buy securities and hold them through the process of diversification. Mechanical methods are adopted to earn better profit through proper timing.The investor uses formula plans to help him in making decisions for the future by exploiting the fluctuations in prices. PASSIVE MANAGEMENT: Passive management is a process of holding a well diversified portfolio for a long term with the buy and hold approach. Passive management refers to the investor’s attempt to construct a portfolio that resembles the overall market returns. The simplest form of passive management is holding the index fund that is designed to replicate a good and well defined index of the common stock such as BSE- sensex or NSE-Nifty. ACTIVE MANAGEMENT: Active management is holding securities based on gthe forecast about the future.The portfolio managers who pursue active strategy with respect to market components are called ‘market timers’. The portfolio managers vary their cash position or beta of the equity portion of the portfolio based on the market forecast. The managers may indulge in ‘ group rotation’s. here, the group rotation means changing the investment in different industries’ stocks depending on the assessed expectations regarding their future performance. FORMULA PLANS: The formula plans provide the basic rules and regulations for the purchase and sale of securities. The amount to be spent on the different types of securities is fixed. The amount may be fixed either in constant or variable ratio. This depends on the investor‘s attitude towards risk and return.The commonly used formula plans are i. Average Rupee Plan ii. Constant Rupee Plan iii. Constant Ratio Plan iv. Variable Ratio Plan ADVANTAGES: ? Basic rules and regulations for the purchase and sale of securities are provided. ? The rules and regulations are rigid and help to overcome human emotion. ? The investor can earn higher profits by adopting the plans. ? A course of action is formulated according to the investor‘s objectives. ? It controls the buying and selling of securities by the investor. ? It is useful for taking decisions on the timing of investments. DISADVANTAGES: ? The formula plan does not help the selection of the security.The selection of the security has to be done either on the basis of the fundamental or technical analysis. ? It is strict and not flexible with the inherent problem of adjustment. ? The formula plans should be applied for long periods, otherwise the transaction cost may be high. ? Even if the investor adopts the formula plan, he needs forecasting. Market forecasting helps him to identify the best stocks. CHAPTER-3 COMP ANY PROFILE SHAREKHAN LTD Sharekhan Ltd. is one of the leading retail stock broking house of SSKI Group which is running successfully since 1922 in the country. It is the retail broking arm of the Mumbai-based SSKI Group, which has over eight decades of experience in the stock broking business.Sharekhan offers its customers a wide range of equity related services including trade execution on BSE, NSE, Derivatives, depository services, online trading, investment advice etc. The firm’s online trading and investment site – www. sharekhan. com- was launched on Feb 8, 2000. The site gives access to superior content and transaction facility to retail customers across the country. Known for its jargon-free, investor friendly language and high quality research, the site has a registered base of over one lakh customers. The content-rich and research oriented portal has stood out among its contemporaries because of its steadfast dedication to offering customers best-of-breed tec hnology and superior market information.The objective has been to let customers make informed decisions and to simplify the process of investing in stocks. On April 17, 2002 Sharekhan launched Speed Trade, a net-based executable application that emulates the broker terminals along with host of other information relevant to the Day Traders. This was for the first time that a net-based trading station of this caliber was offered to the traders. In the last six months Speed Trade has become a de facto standard for the Day Trading community over the net. Sharekhan’s ground network includes over 640 centers in 280 cities in India which provide a host of trading related services. Sharekhan has always believed in investing in technology to build its business.The company has used some of the best-known names in the IT industry, like Sun  Microsystems,  Oracle,  Microsoft,  Cambridge  Technologies,  Nex genix, Vignette, Verisign Financial Technologies India Ltd, Spider Sof tware Pvt Ltd. To build its trading engine and content. The Morakhiya family holds a majority stake in the company. HSBC, Intel &  Carlyle are the other investors. With a legacy of more than 80 years in the stock markets, the SSKI groupventured  into  institutional  broking  and  corporate  finance  18  years  ago. Presently  SSKI  is  one  of  the  leading  players  in  institutional  broking  andcorporate finance activities. SSKI holds a sizeable portion of the market in each of these segments.SSKI’s institutional broking arm accountsfo7%of  the  market  for  Foreign  Institutional  portfolio  investment  and  5%  of  allDomestic  Institutional  portfolio  investment  in  the  country. It  has  60institutional  clients  spread  over  India,  Far  East,  UK  and  US. ForeignInstitutional Investors generate about 65% of the organization’s revenue, with a daily turnover of over US$ 2 million. The Corporate Finance section has a listof very prestigious clients and has many ‘firsts’ to its credit, in terms of the size of deal, sector tapped etc. The group has placed over US$ 1 billion in private equity deals. PROFILE OF THE COMPANY: Name of the company : Sharekhan ltd.Year of Establishment : 1925 Headquarter : ShareKhan SSKI A-206 Phoenix House Phoenix Mills Compound Lower Parel, Mumbai – Maharashtra, INDIA- 400013 Nature of Business : Service Provider Services : Depository Services, Online Services and Technical Research. Number of Employees : Over 3500 Website : www. sharekhan. com Slogan : Your guide to the financial jungle Vision To be the best  retail brokering Brand in the retail business of stock market. MissionTo educate and empower the individual investor to make better investmentdecisions through quality advice and  superior service Sharekhan is infact: †¢ Among the top 3 branded retail service providers †¢ No . 1 player in online business †¢ Largest network of branded broking outlets in the country serving more than7, 00,000 clients Sharekhan's management team is one of the strongest in the sector and has positioned Sharekhan to take advantage of the growing consumer demand for financial services products in India through investments in research, pan-Indian branch network and an outstanding technology platform. Further, Sharekhan's lineage and relationship with SSKI Group provide it a unique position to understand and leverage the growth of the financial services sector.SSKI Corporate Finance Private Limited (SSKI) is a leading India-based investment bank with strong research-driven focus. Their team members are widely respected for their commitment to transactions and their specialized knowledge in their areas of strength ITA CORE SERVICES ARE: ? Equities, and Derivatives trading on the National Stock Exchange of India Ltd. (NSE), and Bombay Stock Exchange Ltd. (BSE), ? Commodities trading on National Commodity and Derivatives Exchange India(NCDEX) and Multi Commodity Exchange of India Ltd. (MCX), ? Depository services, ? Online trading services, ? IPO Services, ? Dial-n-Trade ? Portfolio management services, Fundamental and Technical Research services, ? In addition to this they also provide advisory services and  distributions for  mutual funds. ? Sharekhan ValueLine (a monthly publication with  reviews of recommendations,stocks to watch out for etc. ) ? Daily research reports and market review (High Noon &  Eagle Eye) ? Pre-market Report ? Daily trading calls based on Technical Analysis ? Cool trading products (Daring Derivatives and Market Strategy) REASONS TO CHOOSE SHAREKHAN: ? Experience : SSKI has more than eight decades of trust and credibility in the Indian Stock Market. In the Asia Money Broker’s Poll held recently, SSKI won the ‘India’s Best broking house for 2004’ award.Ever since it launched Sharekhan as its re tail broking division in February in 2000, it has been providing institutional-level research and broking services to individual investors. ? Technology: With their Online Trading account one can buy and sell shares in an instant from any PC with an internet connection. Customers get access to the powerful online trading tools that will help them to take complete control over their investments in shares. ? Accessibility: Sharekhan provides Advice, Education, Tools and Education services for investors. These services are accessible through many centers across the country (over 650 locations in 150 cities), over the internet (through the website www. sharekhan. ltd) as well as over the voice tool. ? Knowledge:In a business where the right information at the right time can translate into direct profits investors get access to a wide range of information on the content rich portal www. sharekhan. com. Investors will also get a useful set of knowledge-based tools that will empower them t o take informed decisions ? Convenience: One can call Sharekhan’s Dial-N-Trade number to get investment advice and execute his/her transactions. They have a dedicated call-center to provide this service via a Toll Free Number 1800 22-7500 & 39707500 from anywhere in India. ? Customer Service: Its customer service team assist their customer for any help that they need relating to transactions, billing, demat and other queries.Their customer service can be contacted via a toll-free number, email or live chat on www. sharekhan. com. ? Investment Advice: Sharekhan has dedicated research teams of more than 30 people for fundamental and technical research. Their analysts constantly track the pulse of the market and provide timelyinvestment advice to customer in the form of daily research emails, online chat, printed reports etc. SHAREKHAN LIMITED’S MANAGEMENT TEAM †¢ Dinesh  Murikya   :   Owner  of  the  company †¢   Tarun  Shah   :   CEO  ofà ‚  the  company †¢ Shankar  Vailaya   :   Director  (Operations) †¢   Jaideep  Arora :   Director  (Products  &  Technology) †¢ Pathik  Gandotra :   Head  of  Research Rishi  Kohli   :   Vice  President  of  Equity  Derivatives †¢ Nikhil  Vora :   Vice  President  of  Research BENEFITS †¢ Free Depository A/c †¢ Instant Cash Transfer †¢ Multiple Bank Option. †¢ Secure Order by Voice Tool Dial-n-Trade. †¢ Automated Portfolio to keep track of the value of your actual purchases. †¢ 24*7 Voice Tool access to your trading account. †¢ Personalized Price and Account Alerts delivered instantly to your mobile phone †¢ Live chat facility with Relationship manager on Yahoo Messenger. †¢ Special Personal inbox for order and trade confirmations. †¢ On-line customer service via web chat. †¢ Enjoy automated Portfolio. Buy or sell even single share. †¢ Anytime orderin g. Sharekhan provides 4 in 1 account: *Demat a/c *Bank a/c: for fund transfer *Dial and Trade: for query relating trading *Trading a/c: for cash calculation DEMAT ACCOUNT: Sharekhan  is  a  depository  participant. This  means  that  we  can  keep  the  shares  in dematerialized form  in  Sharekhan. But  for  this  one  has  to  the  demat  account  in Sharekhan. Dematerialization is the process by which a client can get physical certificates converted into electronic balances maintained in his account with the DP. In Sharekhan, under demat account there are two types of terminals Classic and Trade Tiger. ACCOUNT OPENING:Opening a DP account with Sharekhan-One can open a Depository Participant (DP) account, either through a Sharekhan branch or through a Sharekhan Franchisee center. There is no fee for opening DP accounts with Sharekhan. However a nominal deposit (refundable) is charged towards services which will be adjusted against all future billings. All investors have to submit their proof of identity and proof of address along with the  prescribed account opening form. CLASSICAL ACCOUNT: This is a user friendly product which allow the client to trade through website www. sharekhan. com and is suitable for all the retial investors who is risk averse and hence prefers to invest in stocks or who does not trade too frequently Features Online trading account for investing in equity and derivatives via www. sharekhan. com †¢ Live Terminal and Single terminal for NSE Cash, NSE F&O & BSE. †¢ Integration of On-line trading, Saving Bank and Demat Account. †¢ Instant cash transfer facility against purchase & sale of shares. †¢ Competitive transaction charges. †¢ Instant order and trade confirmation by E-mail. †¢ Streaming Quotes (Cash & Derivatives). †¢ Personalized market watch. †¢ Single screen interface for Cash and derivatives and more. †¢ Provision to enter price trigge r and view the same online in market watch. SPEEDTRADE SPEEDTRADE is an internet-based software application that enables you to buy and sell inan instant.