Articles related to Managerial Accounting Essay

Articles related to Managerial Accounting - Essay Example The cumulative cost, therefore, constitutes the job cost charged to the customer. The article successfully illustrates that a job order costing approach is utilized when the job in question is distinctive from other jobs or product batches. Just as learnt in the management accounting class, cost accounting is relatively simple in job order costing. This is because the cost of materials and labor are integrated on one job ticket. Further, other overhead costs are included in the total amount of money charged to a customer. The article clearly distinguishes job costing from process costing, by showing that their difference depends on the product being availed to a customer, hence the kind of production procedure followed. I therefore learned that while process costing involves charging costs incurred in the course of production, job costing involves charging a specific job. I also learned that, cost assignment strategies and record keeping in job order costing, have higher complexity than in process costing. This is especially the case, if there are multiple services or products being provided. Complexity is increased by the fact that different services or products result in different costs. This means that for high efficacy in job costing, a company must maintain detailed cost records for every job or product. Summary: This article recognizes the fact that in any business, there is a possibility of making profits, suffering losses or simply breaking even. The F&B establishment used as an example adopts a strategy of providing high quality soup at a fair price. Â  This means that the variable costs incurred are high because of using ingredients of high quality, yet the selling price stays at an average level. As a result, the contribution margin remains equally average. Therefore, fixed expenses and generate profit, the business compensates low margin with high sales volume. This involves making sure that its outlets are

Theravada and Mahayana Buddhism Essay Example for Free

Theravada and Mahayana Buddhism Essay Distinguish between Theravada and Mahayana Buddhism.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The name Theravada means â€Å"the way of the elders.† It is an austere religion that requires solitude, meditation, and self-mastery through which each member hopes to achieve Nirvana. Because of these requirements, the possibility of liberation is limited to a few. Many of its followers are monks and nuns who spend most of their time in meditation and teaching. Theravada Buddhism is sometimes called â€Å"Hinayana Buddhism,† Hinayana meaning â€Å"small vehicles,† but this term is not accepted by followers of the religion (Conze, 2002).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   On the other hand, Mahayana means â€Å"large vehicle.† It is a less austere system than Theravada Buddhism and emphasizes liberation for everyone. Many Mahayana Buddhists believe in liberation through good faith and good works. Their object is not only to obtain a personal Nirvana, but to help others to that goal (Mizuno, 2001).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The Mahayana branch has developed a system of ideal Buddhas, or enlightened ones. The most important Buddha is the Amitabha, or Amida, Budhha, to whom members can appeal for deliverance. Some Mahana Buddhists also believe in a goddess, a symbol of compassion, who is called Kwan Yin in China and Kwannon in Japan (Mizuno, 2001).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   Mahayana Buddhists have elaborate temples presided over by priests. They have colorful festivals and solemn rituals. Statues of the various Buddhas and Bodhisattras (Buddhas-to-be) play a part in their worship, but the statues themselves are not worshiped. Mahayana Buddhism is divided into many sects, including Zen, Jodo, Shin, Tendai, and Nichiren Shoshu (Soka Gakkai) (Carrithers, 2003). Reference: Carrithers, Michael. The Buddha (Oxford University 2003). Conze, Edward. A Short History of Buddhism (Allen Unwin, 2002). Mizuno, Kogen. Basic Buddhist Concepts (Tuttle, 2001).

Free Macbeth Essays: The Impact of Act 2 scene 2 :: Free Essay Writer

The Impact of Act 2 scene 2 of Macbeth  Ã‚      Act 2 scene 2 is the most violent and intense part of Macbeth although we do no actually witness the murder of King Duncan. It is interesting that Shakespeare chooses to have Macbeth kill Duncan offstage. We can only guess why he wrote the scene that way, I think that Shakespeare wanted to focus not on the murder but on Macbeth’s reaction to it; the bloody details supplied by the audiences imaginations will be much worse than anything that could be done onstage. It is also the most crucial part of the play; it is the first of many murders. This scene takes place at night; I feel the darkness represents what is unnatural, cruel and evil. Everything that happens within the play appears to revolve around this particular scene. Not only is this important because it contains the murderous act, it also conveys to the audience the rapid disintegration of the relationship between the two main characters, Macbeth and Lady Macbeth. In act 2, scene 2, the murder of Duncan takes place. The audience should be on the edge of their seats by now, wondering if Macbeth will actually have the nerve to murder his king. The tension increases dramatically when we see Lady Macbeth pacing about in a nervous but excited state, awaiting Macbeth’s return increases the tension dramatically. We get a peek at Lady Macbeth’s softer side. She says that she would have killed Duncan herself, but the old man looked too much like her father. This small reminder of Lady Macbeth’s humanity will be important to our understanding of what happens to her at the end of the play. As she waits she decides that she heard a screech owl, and she takes that as a good omen, because the screech owl is nature’s own ‘fatal bellman’. A ‘fatal bellman’ would emphasize the idea of death/ execution in the audience’s minds, which makes it all the more eerie, ‘He’s at it’. This particular part of this scene has to be the climax of the play. When Macbeth and his wife are re-united they are both highly charged with nervous energy and excitement. Macbeth and his wife at first do not speak in sentences. Their speech is syncopated and highly charged emotions tell the audience all is not well. The fact that Macbeth still has hold of the daggers intensifies the tension felt in the scene.

Business Intelligence Software Essay -- Business Software Essays

Business Intelligence Software As we discuss the possibility of emerging into business intelligence software we must keep in mind the overall purpose of using any type of software is to reach strategic goals in order to increase market shares. I will discuss how business intelligence software will allow us to meet those strategic goals. We will establish what type of information and analysis capabilities will be available once this business intelligence software is implemented. We will discuss hardware and system software that will be required to run specific business intelligence software. Lastly, I will give a brief synopsis on three vendors (IBM, Microsoft Microsoft and Oracle) that are dominating the business information software industry today. The goal to any company succeeding in today?s fast paced high tech world is to establish aggressive strategic goals and a means to meet those goals. The end state of strategic goals is the capturing of your industry market share. Business intelligence software is a means or method to meet the goals. Business Intelligence Software brings together established software into a single working suite that will allow personnel from across the corporation to observe the same information in real time on a day-to-day basis. By implementing business intelligence software into our company, it will allow for a consolidated data collection point. This software will also allow us to tap into this consolidated data using multiple methods and display it in various forms or in real time using different web applications. The information that can be extracted from the business information software is endless. In the article written by Alison Dragoon, Business Intelligence Get Smart(er), she states the following about data usage; ? ?[Unused data] is still a great source of untapped productivity and competitive advantage for most companies," he says. Just how much data is going unused? Downes guesses companies are extracting value from only about 20 percent of their data.? With this stated by placing all pertinent information into one database allows personnel throughout the company to pull data that will assist in their daily duties. This data can be arranged to track the life cycle of any product from birth to grave. By tracking an item in this fashion allows us to alleviate faulty products in this process or to allevia... ... analysis with Extract, Transform, and Load (ETL), online analytical processing (OLAP) and data mining capabilities built into the data server. Additionally, we can add Oracles E-Business Suite Corporate Performance Management system that includes pre-packaged applications for measuring and monitoring business performance. Oracle brings to the table exactly what we are looking for, a proven business information tool that is capable of delivering the information that is required to give us time and accurate information. Bibliography Cindi Howson, The Best BI Tool [WWW document] URL http://www.intelligententerprise.com/showArticle.jhtml?articleID=21400422 Alice Dragoon, Business Intelligence Gets Smart(er) [WWW document] URL http://www.cio.com/archive/091503/smart.html Unknown, Business Intelligence and Data Warehousing in SQL Server 2005 [WWW document] URL http://www.microsoft.com/technet/prodtechnol/sql/2005/evaluate/dwsqlsy.mspx Unknown, Introducing SQL Server 2005 [WWW document] URL http://www.microsoft.com/sql/2005/default.asp Unknown, IBM, [WWW document] URL http://www.ibm.com/us/ Unknown, Oracle, [WWW document] URL http://www.oracle.com/index.html

Commercial Bank

A  commercial bank  (or  business bank) is a type of  financial institution  and  intermediary. It is a bank  that lends money and provides  transactional, savings, and money market accounts and that accepts  time deposit. Commercial banks represent the core of the credit for any national economy. In turn, the credit is the engine that put in motion the financial flows that determine growth and economic development of a nation. As a result, any efficiency in the activities of commercial banks has special implications on the entire economy.That is why we consider very useful to present an analysis of possibilities for evaluating the performance in the commercial banks. The management of every commercial bank must establish a system for assessing investment performance which suits its circumstances and needs and this evaluation must be done at consecutive intervals to ensure the achievement of the Bank's investment objectives of hand; and to know the general direction of the behaviour of investment activity in the past and therefore predictable as it in the future on the other hand.Because of the crucial role that commercial banks hold in the financial sector, this paper focuses specifically on the managing core risks is banking sector as a vital segment of the whole economy, without which no modern economy can exercise the role and own functions. ————————————————- ————————————————- Origin of the word The name  bank  derives from the  Italian  word  banco  Ã¢â‚¬Å"desk/bench†, used during the  Renaissanceera by  Florentine  bankers, who used to make their transactions above a desk covered by a green tablecloth. 2]  However, traces of banking activity can be found even in ancient times. — Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- The role of commercial banks Commercial banks engage in the following activities: * processing of payments by way of telegraphic transfer, EFTPOS, internet banking, or other means * issuing bank drafts and bank cheques * accepting money on term deposit * lending money by overdraft, installment loan, or other means * roviding documentary and standby  letter of credit, guarantees, performance bonds, securities underwriting commitments and other forms of off balance sheet exposures * safekeeping of documents and other items in safe deposit boxes * sales, distribution or brokerage, with or without advice, of: insurance, unit trusts and similar financial products as a â€Å"financial supermarket† * cash management and treasury * merchant banking  and  private equity  financing traditionally, large commercial banks also underwrite bonds, and  make markets   in currency, interest rates, and credit-related securities, but today large commercial banks usually have an  investment bank  arm that is involved in the  mentioned activities[clarify]. ————————————————- [editTypes of loans granted by commercial banks [edit]Secured loan A  secured loan  is a loan in which the borrower pledges some asset (e. g. a car or property) as  collateral  for the loan, which then becomes a secured debt owed to the creditor who gives the loan.The debt is thus secured against the collateral — in the event that the borrower defaults, the creditor takes possession of the asset used as collateral and may sell it to regain some or all of the amount originally lent to the borrower, for example, foreclosure of a home. From the creditor's perspective this is a category of debt in which a lender has been granted a portion of the bundle of rights to specified property. If the sale of the collateral does not raise enough money to pay off the debt, the creditor can often obtain a deficiency judgment against the borrower for the remaining amount.The opposite of secured debt/loan is unsecured debt, which is not connected to any specific piece of property and instead the creditor may only satisfy the debt against the borrower rather than the borrower's collateral and the borrower. A  mortgage loan  is a very common type of debt instrument, used to purchase real estate. Under this arrangement, the money is used to purchase the property. Commercial banks, however, are given security – a  lien  on the title to the house – until the mortgage is paid off in full. If the borrower  defaults  on the loan, the bank would have the legal right to epossess the house and sell it, to recover sums owing to it. In the past, commercial banks have not been greatly interested in real estate loans and have placed on ly a relatively small percentage of assets in mortgages. As their name implies, such financial institutions secured their earning primarily from commercial and consumer loans and left the major task of home financing to others. However, due to changes in banking laws and policies, commercial banks are increasingly active in home financing. Changes in banking laws now allow commercial banks to make home mortgage loans on a more liberal basis than ever before.In acquiring mortgages on real estate, these institutions follow two main practices. First, some of the banks maintain active and well-organized departments whose primary function is to compete actively for real estate loans. In areas lacking specialized real estate financial institutions, these banks become the source for residential and farm mortgage loans. Second, the banks acquire mortgages by simply purchasing them from mortgage bankers or dealers. In addition, dealer service companies, which were originally used to obtain c ar loans for permanent lenders such as commercial banks, wanted to broaden their activity beyond their local area.In recent years, however, such companies have concentrated on acquiring mobile home loans in volume for both commercial banks and savings and loan associations. Service companies obtain these loans from retail dealers, usually on a nonrecourse basis. Almost all bank/service company agreements contain a credit insurance policy that protects the lender if the consumer defaults. [edit]Unsecured loan Unsecured loans  are monetary loans that are not secured against the borrower's assets (i. e. , no  collateral  is involved). There are small businesss unsecured loans such as credit cards and credit lines to large corporate credit lines.These may be available from financial institutions under many different guises or marketing packages: * bank  overdrafts An overdraft occurs when money is withdrawn from a bank account and the available balance goes below zero. In this s ituation the account is said to be â€Å"overdrawn†. If there is a prior agreement with the account provider for an overdraft, and the amount overdrawn is within the authorized overdraft limit, then interest is normally charged at the agreed rate. If the POSITIVE balance exceeds the agreed terms, then additional fees may be charged and higher interest rates may apply. * corporate bonds credit card  debt * credit facilities or lines of credit * personal loans What makes a bank limited liability company A corporate bond is a bond issued by a corporation. It is a bond that a corporation issues to raise money in order to expand its business. [1] The term is usually applied to longer-term debt instruments, generally with a maturity date falling at least a year after their issue date. (The term â€Å"commercial paper† is sometimes used for instruments with a shorter maturity. ) Sometimes, the term â€Å"corporate bonds† is used to include all bonds except those issu ed by governments in their own currencies.Strictly speaking, however, it only applies to those issued by corporations. The bonds of local authorities and supranational organizations do not fit in either category. [clarification needed] Corporate bonds are often listed on major exchanges (bonds there are called â€Å"listed† bonds) and ECNs like Bonds. com and MarketAxess, and the coupon (i. e. interest payment) is usually taxable. Sometimes this coupon can be zero with a high redemption value. However, despite being listed on exchanges, the vast majority of trading volume in corporate bonds in most developed markets takes place in decentralized, dealer-based, over-the-counter markets.Some corporate bonds have an embedded call option that allows the issuer to redeem the debt before its maturity date. Other bonds, known as convertible bonds, allow investors to convert the bond into equity. Corporate Credit spreads may alternatively be earned in exchange for default risk through the mechanism of Credit Default Swaps which give an unfunded synthetic exposure to similar risks on the same ‘Reference Entities'. However, owing to quite volatile CDS ‘basis' the spreads on CDS and the credit spreads on corporate bonds can be significantly different. Assets and Liabilities of Commercial Banks in the United States * Glass-Steagall Act * Mortgage constant Functions of Commercial Banks Commercial bank being the financial institution performs diverse types of functions. It satisfies the financial needs of the sectors such as agriculture, industry, trade, communication, etc. That means they play very significant role in a process of economic social needs. The functions performed by banks are changing according to change in time and recently they are becoming customer centric and widening their functions. Generally the functions of commercial banks are divided into two categories viz. rimary functions and the secondary functions. The following chart simplifi es the functions of banks. Primary Functions of Commercial Banks Commercial Banks performs various primary functions some of them are given below 1 Accepting Deposits  :  Commercial bank accepts various types of deposits from public especially from its clients. It includes saving account deposits, recurring account deposits, fixed deposits, etc. These deposits are payable after a certain time period  2 Making Advances  :  The commercial banks provide loans and advances of various forms. It includes an over draft facility, cash credit, bill discounting, etc.They also give demand and demand and term loans to all types of clients against proper security. 3 Credit creation  :It is most significant function of the commercial banks. While sanctioning a loan to a customer, a bank does not provide cash to the borrower Instead it opens a deposit account from where the borrower can withdraw. In other words while sanctioning a loan a bank automatically creates deposits. This is kno wn as a credit creation from commercial bank. Secondary Functions of Commercial Banks Along with the primary functions each commercial bank has to perform several secondary functions too.It includes many agency functions or general utility functions. The secondary functions of commercial banks can be divided into agency functions and utility functions. a) Agency Functions  : Various agency functions of commercial banks are ————————————————- 1 To collect and clear cheque, dividends and interest warrant. ————————————————- 2 To make payment of rent, insurance premium, etc. ————————————————- 3 To deal in foreign exchange transactions. ——â₠¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- 4 To purchase and sell securities. ———————————————— 5 To act as trusty, attorney, correspondent and executor. ————————————————- 6 To accept tax proceeds and tax returns. b) General Utility Functions  : The general utility functions of the commercial banks include ————————————————- 1 To provide safety locker facility to customers. ————————————————- 2 To provide money transfer facility. ——————à ¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€Ã¢â‚¬â€- 3 To issue traveller's cheque. ————————————————- To act as referees. ————————————————- 5 To accept various bills for payment e. g phone bills, gas bills, water bills, etc. ————————————————- 6 To provide merchant banking facility. ————————————————- 7 To provide various cards such as credit cards, debit cards, Smart cards, etc. Andrievskiy Wealth Management  establishes bank accounts for onshore and offshore companies and private individuals with one of the oldest banks in Switzerland, for asset management as well as for purely commercial transfers.Andrievskiy Wealth Management doesn’t charge any commissions for bank account openings. * Time period of an account opening: 7-10 days (available by mail) * Price: free of charge * Getting keys of electronic access to the account (e-banking) * Time period of getting keys: 7 days * Registering management mandate according to your strategy: 1 day * The minimum recommended amount to open a Swiss bank account is 500 000 CHF * Receiving reports: quarterly or on request Opening a Swiss bank account in the Internet age is a very easy thing to do.The main reason for opening a Swiss bank account is for the extreme security and privacy Swiss Banks uphold thanks to Swiss laws that have been in effect for over 75 years. Contrary to popular belief, opening a Swiss bank account does not always mean that you are a tax evader, criminal, or money launderer. Swiss bank accounts can protect one’s money from prying relatives, nasty divorce settlements, lawsuits, and more. Some people just want a Swiss bank account because of the allure and mystery often attached to Swiss bank accounts, but whatever your reasons it is relatively easy to find a bank and open an account.Till the end of the last century, opening a Swiss bank account may have included visiting the bank of your choice in person, paying hundreds of dollars a year in fees, and putting down a few thousand dollars as an initial deposit. As the Internet has allowed online banking to explode, you can now open a bank account at thousands of banks around the world wherever you are. Offshore bank accounts are available to anyone with money that needs a place to be kept, Swiss banks have a lot of competition these days. Sticking to trusted and insured banks is always the way to go.While most banks today have secure online banking and security features in place, a Swiss bank account comes built in with some of the strictest privac y laws in the world. Never wire money or deposit money to any site or bank without first verifying that the bank or site is secure and licensed to do banking. Making sure deposits are insured is also a good idea and be mindful that not all banks may be insured or may have deposit insurance limits. Read reviews and ask questions about the Swiss bank you choose before providing any personal information.Once you’ve found a good Swiss bank and open an account you’ll enjoy financial privacy at a level found only in Switzerland. In 1934, the Swiss passed a law that made it a criminal offense for bankers to reveal the identity of account holders. There are two reasons why this protection was reinforced: Nazi spies: The 1931 crisis led to intensified foreign exchange control in Germany. Hitler promulgated a law whereby any German with foreign capital was to be punished by death, and the Gestapo began espionage on Swiss banks. When three Germans were put to death, the Swiss gov ernment was convinced of the necessity to reinforce bank secrecy.Pressure from the French: The 1932 Basler Handelsbank affair revealed that over 2,000 members of the French elite had accounts in Switzerland. French Leftists took advantage of this to denounce the austerity program of the government. It called for legal authority over French accounts in Switzerland, but to no avail. Unlike American law where law enforcement agencies, the judicial system, and private citizens can gain access to all kinds of financial information, under Swiss law neither the bank’s officers or the its employees are allowed to reveal any information, relative to any account to anyone, including the Swiss government.No private citizen or their legal representative can ever receive any type of information about anyone’s Swiss bank account under any set of conditions. That includes all types of legal proceedings that the Swiss classify as non-criminal behavior. The Swiss consider tax evasion a political offense. Divorce, inheritance disputes and bankruptcy cases are considered private matters, and as such the secrecy of the account is protected from any legal action to verify the presence of, or attempts to seize any assets. There are some notable exceptions.The Swiss are bound by a treaty with the US to reveal accounts connected with organized crime, drug trafficking and insider trading. But the final say on revealing the identity of the account holder is up to the Swiss authorities. 7 myths about Swiss bank accounts Swiss bank accounts are only for millionaires. This is not true. The majority of our clients are not major manufacturers or movie stars, but everyday people (business people, computer engineers, civil servants, etc. ). Swiss banks are no longer only for stars. You can open a Swiss bank account with a deposit of only 5,000 Swiss francs.We even offer accounts with no minimum balance. Money invested in Switzerland yields no interest. Nothing could be more untr ue. You can invest your money worldwide from your account in Switzerland. Swiss bankers are among the best finance managers in the world, so it comes as no surprise that they manage over 35% of offshore holdings. It’s impossible to open an account in Switzerland by correspondence This is not true. Most of the accounts that we offer can be opened by correspondence as long as you comply with our opening procedures and provide us with the necessary documents.What is more, your banking relations can be conducted by correspondence, using the telephone, Internet banking, bank transfer and credit cards. That said, we encourage our customers to meet with their banker at least once in order to get acquainted and see where their money is held. Swiss bank accounts are very expensive to maintain This is not true. Most of the accounts we open don’t charge a cent in annual fees. Even if you would like additional services such as retained correspondence or numbered banking relations, the annual fees are very reasonable.It is difficult to close a Swiss bank account On the contrary. You can close your account in Switzerland whenever you wish and without any restriction. You will pay no financial penalty. If need be, you will just have to realize your investments. Contrary to many onshore banking practices, your money is not held hostage by Swiss banks. Swiss bank accounts attract only criminals and dictators Not true! The vast majority of Swiss bank account holders are honest people who want to keep their savings in a country renowned for its stability.Swiss banks are extremely cautious regarding politicians who wish to open an account and they systematically refuse to accept any money that is of dubious origin or poorly founded. Numbered accounts are anonymous There are no anonymous accounts in Switzerland. A numbered account is an account that is identified solely by a number, rather than a name, in order to preserve the strictest confidentiality possible durin g teller transactions or bank transfers. Only the bank manager and a few select people know the identity of numbered account holders. There exist two different types Swiss bank accounts.The first is accessible to (almost) anyone. Such an account will offer credit and debit cards, checking or whatever else you may want in a bank account. Opening such an account can be done in person–some Swiss banks have branches here in the US–or by mail. Then there are the Swiss bank accounts you’ve heard about from the movies. These are the numbered accounts, the ones with minimum balances anywhere from $100,000 to $1 million. It’s known as private banking and it’s reserved for folks who have a lot of assets to manage and who demand a lot of service.The services you receive at a private bank focus on private counseling in aspects of wealth management including investments, tax concerns, and estate planning. The numbered accounts aren’t anonymous, but only a few people know the name of the account holder and Swiss law forbids them from revealing it to most anyone. They can’t acknowledge that you have an account, give out the name of a numbered account holder or reveal any information about the transactions of any account holder. Generally, numbered accounts must be opened in person, though lawyers and/or brokers can perform this service for you by mail.Your signature and identity have to be authenticated by a notary public or consul, depending on circumstances. If you’ve got the money and want to open such account, here are links to the private banking departments of some well known Swiss banks: Ask Dr. Econ July 2001 What Is the Economic Function of a Bank? Commercial banks play an important role in the financial system and the economy. As a key component of the financial system, banks allocate funds from savers to borrowers in an efficient manner. They provide specialized financial services, which reduce the cost of ob taining information about both savings and borrowing opportunities.These financial services help to make the overall economy more efficient. Imagine a World Without Banks One way to answer your question is to imagine, for a moment, a world without banking institutions, and then to ask yourself a few questions. This is not just an academic exercise; many former eastern-block nations began facing this question when they began to create financial markets and develop market-oriented banks and other financial institutions. If there were no banks†¦ * Where would you go to borrow money? * What would you do with your savings? * Would you be able to borrow (save) as much as you need, when you need t, in a form that would be convenient for you? * What risks might you face as a saver (borrower)? How Banks Work Banks operate by borrowing funds-usually by accepting deposits or by borrowing in the money markets. Banks borrow from individuals, businesses, financial institutions, and governmen ts with surplus funds (savings). They then use those deposits and borrowed funds (liabilities of the bank) to make loans or to purchase securities (assets of the bank). Banks make these loans to businesses, other financial institutions, individuals, and governments (that need the funds for investments or other purposes).Interest rates provide the price signals for borrowers, lenders, and banks. Through the process of taking deposits, making loans, and responding to interest rate signals, the banking system helps channel funds from savers to borrowers in an efficient manner. Savers range from an individual with a $1,000 certificate of deposit to a corporation with millions of dollars in temporary savings. Banks also service a wide array of borrowers, from an individual who takes a loan of $100 on a credit card to a major corporation financing a billion-dollar corporate merger.The table below provides a June 2001 snapshot of the balance sheet for the entire U. S. commercial banking in dustry. It shows that the bulk of banks' sources of funds comes from deposits – checking, savings, money market deposit accounts, and time certificates. The most common uses of these funds are to make real estate and commercial and industrial loans. Individual banks' asset and liability composition may vary widely from the industry figures, because some institutions provide specialized or limited banking services. Banks Are Only One Type of Financial Intermediary Finally, the U.S. financial services industry and financial markets are highly developed. In recent decades, many new products and services have been created, as well as new financial instruments and institutions. Today, in addition to banks, there are several other important types of financial intermediaries. These include savings institutions, credit unions, insurance companies, mutual funds, pension funds, finance companies, and real estate investment trusts (REITS). Banks' assets have grown in recent decades in a bsolute terms; however, banks have tended to lose market share to even aster growing intermediaries such as pension funds and mutual funds. Still, banks continue to account for a significant share-over 23 percent-of the assets of all financial intermediaries at the end of year 2000, as the chart below shows. The main functions of commercial banks are accepting deposits from the public and advancing them loans. However, besides these functions there are many other functions which these banks perform. All these functions can be divided under the following heads: 1. Accepting deposits 2. Giving loans 3. Overdraft 4. Discounting of Bills of Exchange . Investment of Funds 6. Agency Functions 7. Miscellaneous Functions 1. Accepting Deposits: The most important function of commercial banks is to accept deposits from the public. Various sections of society, according to their needs and economic condition, deposit their savings with the banks. For example, fixed and low income group people d eposit their savings in small amounts from the points of view of security, income and saving promotion. On the other hand, traders and businessmen deposit their savings in the banks for the convenience of payment.Therefore, keeping the needs and interests of various sections of society, banks formulate various deposit schemes. Generally, there ire three types of deposits which are as follows: (i)  Current Deposits: The depositors of such deposits can withdraw and deposit money whenever they desire. Since banks have to keep the deposited amount of such accounts in cash always, they carry either no interest or very low rate of interest. These deposits are called as Demand Deposits because these can be demanded or withdrawn by the depositors at any time they want.Such deposit accounts are highly useful for traders and big business firms because they have to make payments and accept payments many times in a day. (ii)  Fixed Deposits: These are the deposits which are deposited for a definite period of time. This period is generally not less than one year and, therefore, these are called as long term deposits. These deposits cannot be withdrawn before the expiry of the stipulated time and, therefore, these are also called as time deposits. These deposits generally carry a higher rate of interest because banks can use these deposits for a definite time without having the fear of being withdrawn. iii)  Saving Deposits: In such deposits, money upto a certain limit can be deposited and withdrawn once or twice in a week. On such deposits, the rate of interest is very less. As is evident from the name of such deposits their main objective is to mobilise small savings in the form of deposits. These deposits are generally done by salaried people and the people who have fixed and less income. 2. Giving Loans: The second important function of commercial banks is to advance loans to its customers. Banks charge interest from the borrowers and this is the main source of th eir income.Banks advance loans not only on the basis of the deposits of the public rather they also advance loans on the basis of depositing the money in the accounts of borrowers. In other words, they create loans out of deposits and deposits out of loans. This is called as credit creation by commercial banks. Modern banks give mostly secured loans for productive purposes. In other words, at the time of advancing loans, they demand proper security or collateral. Generally, the value of security or collateral is equal to the amount of loan.This is done mainly with a view to recover the loan money by selling the security in the event of non-refund of the loan. At limes, banks give loan on the basis of personal security also. Therefore, such loans are called as unsecured loan. Banks generally give following types of loans and advances: (i)  Cash Credit: In this type of credit scheme, banks advance loans to its customers on the basis of bonds, inventories and other approved securitie s. Under this scheme, banks enter into an agreement with its customers to which money can e withdrawn many times during a year. Under this set up banks open accounts of their customers and deposit the loan money. With this type of loan, credit is created. (iii)  Demand loans: These are such loans that can be recalled on demand by the banks. The entire loan amount is paid in lump sum by crediting it to the loan account of the borrower, and thus entire loan becomes chargeable to interest with immediate effect. (iv)  Short-term loan: These loans may be given as personal loans, loans to finance working capital or as priority sector advances.These are made against some security and entire loan amount is transferred to the loan account of the borrower. 3. Over-Draft: Banks advance loans to its customer’s upto a certain amount through over-drafts, if there are no deposits in the current account. For this banks demand a security from the customers and charge very high rate of int erest. 4. Discounting of Bills of Exchange: This is the most prevalent and important method of advancing loans to the traders for short-term purposes. Under this system, banks advance loans to the traders and business firms by discounting their bills.In this way, businessmen get loans on the basis of their bills of exchange before the time of their maturity. 5. Investment of Funds: The banks invest their surplus funds in three types of securities—Government securities, other approved securities and other securities. Government securities include both, central and state governments, such as treasury bills, national savings certificate etc. Other securities include securities of state associated bodies like electricity boards, housing boards, debentures of Land Development Banks units of UTI, shares of Regional Rural banks etc. 6.Agency Functions: Banks function in the form of agents and representatives of their customers. Customers give their consent for performing such functi ons. The important functions of these types are as follows: (i) Banks collect cheques, drafts, bills of exchange and dividends of the shares for their customers. (ii) Banks make payment for their clients and at times accept the bills of exchange: of their customers for which payment is made at the fixed time. (iii) Banks pay insurance premium of their customers. Besides this, they also deposit loan installments, income-tax, interest etc. s per directions. (iv) Banks purchase and sell securities, shares and debentures on behalf of their customers. (v) Banks arrange to send money from one place to another for the convenience of their customers. 7. Miscellaneous Functions: Besides the functions mentioned above, banks perform many other functions of general utility which are as follows: (i) Banks make arrangement of lockers for the safe custody of valuable assets of their customers such as gold, silver, legal documents etc. (ii) Banks give reference for their customers. iii) Banks colle ct necessary and useful statistics relating to trade and industry. (iv) For facilitating foreign trade, banks undertake to sell and purchase foreign exchange. (v) Banks advise their clients relating to investment decisions as specialist (vi) Bank does the under-writing of shares and debentures also. (vii) Banks issue letters of credit. (viii) During natural calamities, banks are highly useful in mobilizing funds and donations. (ix) Banks provide loans for consumer durables like Car, Air-conditioner, and Fridge etc.

Hi-ho-yo-yo inc Example

Hi Hi PAD PRINTING ORDER LIST ANALYSIS COME FIRST SERVED The company provides very illustrative mechanism for managing orders and even in various advertising and marketing scenerios, such levels convey ideal concepts relevant to modern businesses. For example, the printing factor involved various consistent considerations and this involves critical overview of core factors such as dominant business developments. This expression is vital because its policy involves serving clients or customers basing on requests and arrivals. There are no known biases or even preferences. Ideally, the policy applied involves defining relevant sales, and mostly involve queueing to acqure a service. Its relevance is widely seen in airline industries and FCFS is also evident in various party organizations. Shortest Processing Time (SPT) The time taken to complete all processing within a schedule and this procedure involve defining the completeness of tasks against time. The aspect itself involve dispatching relevant scheduling and by ensuring that specific undertakings have been simulated. There are very vital considerations regarding its performance and with a notable understanding of tardiness index, the crucial data is dissipated where the printing itself involve substantial amount of evidence. This consideration hence help to explain the order received set-up time, and this offers the use of SPT-T as a rule control mechanism. The platform reflected by Shortest Time Processing is integrated in terms of delays, procedural undertakings and time considerations. (Degeratu et al, 1999) Earliest date due The scheduling concept offers task assignment which is defined by resource assignment. The task’s arrangement is important because it specifies the amount of performance optimization needed. This model offers dependent priorities and it defines priority class and which involves equation that calculates time t,, with additional expression of virtual lateness considerations. The case here shows that the waiting time is minimized but also found out that the exact priorities are distinctly established. EDD also priorities static priorities and these are bound by limited queuing and at the very least; the mean itself is composed of increased flexibilities. EDD illustrates parallel dynamics, uncalculating relevancy in terms of priority identification. Critical Ratio Critical ratio involves identifying the time remaining before the work is completed and factoring it by remaining work time. This offers an easily updated dynamics, and it hence involves creating automatic updates in performance intervals. Its performance is far much better than other methods in terms of job lateness criteria. Summary of findings CR gives absolute priority to jobs which are to be done within a limited time and which need proper scheduling. Its application involves using systemic ratios which embraces specific levels of urgency within orders. Hence its ratio is derived from order requirement, urgency levels and need and this hence offer specific timings required to complete tasks. References Degeratu, A.M., Arvind, R. and Jianan, W.(1999).Consumer Choice Behaviour in Online and Traditional Supermarkets: The Effects of Brand Name, Price and Other Search Attributes. International Journal of Research in Marketing, 17(1): 55–78.

The Character of Slim Essay Essay Example

The Character of Slim Essay Essay Example The Character of Slim Essay Essay The Character of Slim Essay Essay Essay Topic: Equus During the fresh Slim is respected and trusted by his fellow spread workers and even has Curley following his orders. Slim advises George and becomes George’s intimate. As he acts as George’s intimate he later becomes the moral supreme authority of the drama. he is the chief character who can acknowledge things from right and incorrect. Slim is a particular character because he speaks to everyone from Crooks to Candy and even Curley’s married woman. In the novel the thought of hierarchy is of import. as Slim is trusted by the whole spread he is the 1 who is at the top. this is shown in the novel with his authorization. However during the drama he is the character who represents the baronial spread worker. Slim represents a sympathetic influence in the otherwise hostile nature of mundane life on the spread. When the reader first meets Slim in the novel he is presented as being high in the hierarchy in the novel. Slim is presented as a respectable adult male which is why the other spread workers trust him. this accordingly leads him to going the adult male who George can confide in approximately Lennie. as Slim realizes that Lennie has the outlook of a kid. This shows how Slim is presented as a adult male who is really wise which leads people to swearing him. This is shown when it says. â€Å"his tone was friendly. It invited assurance without demanding it. † This illustrates how people can swear because of Slim’s soft nature. The ranch workers are shown in to esteem because of the hierarchy and because he is the baronial spread worker when it says. â€Å"they precede him. † This shows his authorization within the spread as they respect him and because of his place in the hierarchy of the spread. As Slim is portion of the hierarchy of the spread he described as when traveling â€Å"with a stateliness merely achieved by royalty. † This is shown to stress his place within the spread hierarchy and this presents the thought that he is like the prince of the spread. As slim is skilled he is called a â€Å"Jerkline skinner† which shows he is really baronial. This gives the feeling that as he has great skille d and a great deepness of perceptual experience he about emanates unagitated and understanding. In the fresh Slim is shown to hold a personality which is really alone compared to the other workers on the spread. Slim is described as holding a â€Å"hatchet face† which is â€Å"ageless. † This gives the feeling that Slim has a sense of immortality around him. which is described as being extraordinary. This illustrates how Slender as he is ageless is about like a piece of furniture for the spread as he is high up in the hierarchy which farther enforces the fact that Slim is a baronial spread worker who is trusted by the work forces. Steinbeck uses slims â€Å"ageless† and â€Å"hatchet face† to use the usage of similes to demo the character of Slim. He employs similes when Steinbeck writes that Slim’s custodies are â€Å"delicate† and are â€Å"those of a temple terpsichorean. † Steinbeck uses similes to demo Slim’s elegance within the novel. which besides represents his character as a character who is able to state right fr om right from incorrect which is a accomplishment in itself. This is besides illustrates how he has great accomplishment with his custodies. Furthermore. Slim is a character who is â€Å"capable of killing a fly on the wheeler’s butt with a bull whip without touching the mule. † This shows how Slim is trusted among the workers ; this besides emphasizes how Slim is character who is really powerful but controlled. Steinbeck presents Slim in the novel as a character who is about like a father-figure for the other ranch workers. This is shown when Steinbeck wrote that Slim has a â€Å"understanding beyond idea. † This illustrates how Slim is the male parent figure as he is the wise adult male of the spread and is the individual who is besides really perceptive. This shows that his mensural manner of life gave great hope to the other ranch work forces and gave them inspiration and a friend who they could speak to. Steinbeck uses positive adverbs to demo his kindness towards Lennie and George. As Slim is wise and really clever he realizes that Lennie has a head of a kid. This is shown when he uses the adverbs â€Å"kindly† and â€Å"Gently. † This shows how he has a caring attitude towards them as George has about looked after Lennie his whole life. In this manner he is about sympathetic towards George because he realizes how much George has had to cover with because of Lennie. which is why Slim becomes the intimate of George. Steinbeck makes the character of Slim become the intimate of George. He uses this so Steinbeck can associate back to the original narrative of George and Lennie. This is shown when it said. â€Å"Slim neither encouraged nor discouraged him. He merely sat back quiet and receptive. † This illustrates how Slim gained the trust of George because of his soft nature and because he is the male parent figure. This shows how he is in touch with other ranchmen although harmonizing to the hierarchy he is much higher than them. this shows how he is a really baronial and wise adult male because he considers himself as one of the common work forces. So he is able to listen to them with their jobs like they are the same his. As Slim becomes the intimate of George. in the conversation with George he says that Lennie is â€Å"a nice fella† and that â€Å"He ain’t mean† This shows how Slim has a different attitude towards Lennie as if he is looking after him every bit good as George. This is why the reader becomes sympathetic because Slim is sympathetic towards Lennie which encourages the reader to go sympathetic. This creates a cardinal function for Slim because without Slim the reader would non hold been encouraged to go as sympathetic to Lennie. Slim is polar towards the intervention Crooks because he is one of the lone people in the spread to handle Crooks with the regard he deserves. This is shown when he says. â€Å"He’s enough good. † This illustrates how Slim is just and compassionate because it shows how he knows the difference between right and incorrect which shows how he is impartial. This is because during the 1930s it was normal for black people to be treated really severely because to many people they were still known as slaves. which is shown through the isolation in which crooks lives. This is farther enforced when Slim is the really first character to turn to Crooks by his existent name alternatively of the name â€Å"nigger† which is a black slave or â€Å"stable vaulting horse. † This shows how he treats him with more regard than the other charac ters do. This gives the feeling that Slim clearly seems to hold a scruples during the novel. this shows why work forces swear his judgement. Through this it gives the feeling that Slim could be the metaphorical voice of Steinbeck showing his positions on bias and the manner people are treated and how they should be treated. During the novel the pragmatism of Slim is shown when he acts like a leader and usher because the Canis familiaris has been shot. This is shown when he says â€Å"Take a shovel. † to Carlson. The usage of an imperative shows Slim’s commanding nature and authorization. Furthermore as he is commanding. he is besides a realist which is why he understands that the Canis familiaris needs to be shot for the better of the Canis familiaris. The short sentence structure creates an consequence because it shows Slim’s dominating nature. Slim has a really dominating nature which is why Slim is the moral supreme authority during the novel and which is why he knows that Candy’s Canis familiaris has to decease. This is shown when â€Å"Candy looked impotently at him. for Slim’s sentiments were jurisprudence. † This enforces the thought of Slim being the moral supreme authority because it shows how it is an emphasized thought which is strengthened by the fac t that it is a statement. In the novel Slim has a batch of power and different characters to his character. As he is sort to many characters. non many ranchmen know what he truly would make. This is shown when it says. â€Å"Nobody don’t know what Slim can make. † This illustrates how Slim does hold a bad side which known wants to acquire on the bad side with. This thought that no one’s what he can make implies that Slim is capable of great force. This is shown when he â€Å"drowned four of mutton quads right off. † This is because his â€Å"bitch† could non feed them which shows that he will merely make force if it is necessary and so for the better non the worse. this emphasizes his overpowering power Slim has. Slim’s place in the hierarchy is high because he is able to do Curley halt what he is making. This shows his assertiveness when he says. â€Å"you ballad offa me. † This implies that due to the hierarchy and Curley’s fright of Slim. he is prepared to make what Slim tells him to. However when Lennie is acquiring beaten up by Curley. it shows how Slim is really peaceable but at the same clip endangering and ever looking out for people who are non in the incorrect. This is shown when â€Å"Slim jumped up. † this shows how Slim is protective over Lenny which makes the reader feels sympathetic towards Lennie. On the other manus his aggression is shown when says. â€Å"get um myself. † This illustrates how Slim has a concealed strength. and about Acts of the Apostless like a baronial dark Equus caballus. When Curley’s married woman dies. the character of Slim reveals that he did care about Curley’s married woman which is why he is respectful and caring during her decease. This is shown when Slim tells Curley â€Å"stay here with your married woman. † Slim uses an imperative to demo how he knows that Curley needs to remain at that place for his ain benefit but for Lennie’s every bit good. But. as the state of affairs escalates Slim realizes that â€Å"we got ta get im. † As he takes control of the state of affairs he does non make because he wants to kill Lennie but because he wants them to travel easy on Lennie and non ache him. This is because Curley wants to. â€Å"strap him down and set him in a coop. † This illustrates how Slender attentions for Lennie and does non desire him to decease. When Lennie dies he has to move as a intimate where he goes to George and non the opposite manner unit of ammunition because he has to reassure him because otherwise he knows that George will be feeling really bad after. He uses his realistic expression on life to demo how in life that is a rough life. this is shown when he says. â€Å"A cat got to sometimes. † This illustrates how he has to maintain George unagitated and does this by the usage of repeat. which is shown when he says. â€Å"you hadda George. I swear you hadda. † He is acquiting George so that he feels better which is further implemented when Slim â€Å"twitched George’s cubitus. † So Slender utilizations positive encouragement to hearten up George. This is in contrast to when Slim had to hearten confect up for when they killed his Canis familiaris. it is like Lennie is George’s whelp and so Slim has to now hearten up George. While facing George about killing Lennie Slim says to him to sit down and so â€Å"sat down beside him. sat really near to him. † The repeat of the word â€Å"sat† shows how he Is once more utilizing the thought of repeat to quiet him as they are friends and Slim is the male parent figure for George. the manner George was for Lennie. This creates a physical propinquity which is created by the appeasement and repe at. The writer uses Darwin’s theory to show a subject to the reader that merely the strongest can last in the universe and the weak must decease. which is why Lennie must decease. This is because Lennie is like the ill whelp because it would be â€Å"cruel to maintain him alive† like Carlson said. Overall Slim is presented in â€Å"Of mice and men† as the male parent figure of the spread and so the leader to whom everyone respects and can speak to in times of demand. As he is the father figure of the spread he is really baronial and sees himself as one of the common workers. this is why he is the moral supreme authority during the drama who voices the sentiment of Steinbeck. As George neer truly had anyone talk to. Slim becomes the intimate for George assisting him through George’s heartache when he kills Lennie. Slim provides a polar function in the Novel because he is the character who is impartial and is one of the common work forces who is high in the hier archy.

The eNotes Blog Who Is Malala (And What Is She DoingNow)

Who Is Malala (And What Is She DoingNow) photo via  Business Insider In her 2013 memoir, I Am Malala, Malala Yousafzai recounts the profound influence that education has had on her own life and the eventual formation of her life goal: for girls to receive education worldwide. When she was denied education in her home country, Pakistan, she spoke out. At just the age of 11, she began to write undercover for BBC Urdu, educating readers on her life as a girl in Pakistan under Taliban rule. Her immense bravery in doing so led to her becoming a target of The Taliban, and in 2012 she was shot in the face. Both gripping and inspirational, Malala’s voice is poignant and telling in I Am Malala, leaving a lasting impression on all who read it. Malala describes and reflects these harrowing events in I Am Malala. With every step forward taken to reach her goal, the danger of doing so increased. Despite the danger, Malala never faltered and provides insight as to why she continued pursuing her goals. Malala is exceptionally persistent,   and reading her story reminds us all that an individual truly can make a difference. In addition to persistence as an important theme in I Am Malala, women’s rights and how it can benefit a country are equally prevalent and powerful themes. These powerful themes create a newfound conversation: between self and civic duty. Now, more than ever, it is important to remind ourselves of what she has been doing and why. â€Å"Let us pick up our books and our pens,† I said. â€Å"They are our most powerful weapons. One child, one teacher, one book and one pen can change the world.† What is she up to now? Currently, Malala is working with refugee camps to set up schools. She stated in an NPR interview that â€Å"these people do not become refugees by choice. It is the situation. [] We have to support them and then invest in these girls education because these girls know that if they want, if one day they go back home and they want to have a life, they want to achieve their dreams, then they must have an education.† While the tumultuous events in Syria are slowly fading in the background of media and even our minds, she has not forgotten the crisis state of the refugee crisis and has continued to work on improving refugee camps and setting up schools for girls. She has criticized Trump’s recent political decisions concerning refugees, claiming that she was â€Å"heartbroken that [] President Trump is closing the door on children, mothers and fathers fleeing violence and war.†    photo via  Malala Fund In 2013, Malala created her own foundation called Malala Fund. The fund’s objective is to champion every girl’s right to â€Å"12 years of free, safe, quality education.† She has been working with the foundation to provide education and set up more schools. Additional Projects Malala has also been working on a picture book for children titled Malala’s Magic Pencil. The title is based off a childhood TV show where a boy named Sanju owns a magic pencil. Malala always wanted one for herself but finds that even without a pencil, she can still make a positive change to the world. The book is targeted towards four to eight year olds with the aim to educate them on Malala’s history, her current mission, and the importance of education. She hopes that the audience â€Å"finds their magic pencil. [Her] magic pencil was [her] voice.† photo via  Bustle Malala Yousafzai is a highly influential woman, relentlessly pursuing her goal to provide education to young girls around the world. Whether reading her memoir, I Am Malala, or her children’s book, Malala’s Magic Pencil, her stories will resonate with readers, reminding them of the power of one’s voice and passion. Read the  I Am Malala summary and study guide  including themes, important quotes, and characters.

Planning in Organisation for Creative Workforce Essay

Planning in Organisation for Creative Workforce - Essay Example This suggests that most of the organisations fail to utilise its workforce due to lack of planning leading to employee dissatisfaction. An employee who does not find any motivation into the job he performs, learns nothing out of the routine work, is not rewarded for any outstanding performance, and sees no challenge in his job is less likely to be motivated to work enthusiastically and perform at his best. Bramham (1987) propounds the most important aim of human resource planning in an organisation to foresee future need for employees not only in quantitative terms but also in qualitative manner such as the skills, calibre, performance and attitude required for particular types of jobs. Dessler (1999, p2) says that human resource management is all about devising policies and strategies for the employees working in the organisation. It includes selecting, training, evaluating, appreciating and providing convenient working environment for the employees. It shows that planning for creative workforce is very crucial for the survival and success of an organisation. The organisations use planning to select the kind of personnel it needs, motivate them and retain them towards future enhancement of organisational objectives. The organisations plan to realise organisational needs for workforce in future and take calculated steps to retain its employee through various means. In fact, human resource planning does not only enable an organisation to retain its employees but also to 'treasure' them so that they can gain more creative and efficient workforce. The use of planning by organisation to gain more creative workforce... Planning is the most important aspect of organisational management. Workforce planning is the key to acquire the kind of people the organisation needs and to retain them through various motivating factors such as salary, promotion, job security, learning opportunities, performance appraisals etc. It shows the criticality of organisational planning concerning human resource. Every organisation needs to plan in a proactive manner the labour needs that will arise in future. It will ensure that the organisation strives to attain the employees with suitable skills and attitude to train them for upcoming change. In this way, the organisation will have the 'right team' prepared for challenges when the time actually comes. Mullins (1996) maintains that human resource planning if done in an efficacious manner can enable the organisation to take imperative steps for the enhancement of employee productivity level at the right possible time. It assists the organisation in meeting all the necessary human resource requirements from hiring to firing in a systematic way. This reflects that human resource planning makes an organisation realise the factors undermining the productivity and calibre of its employees keeping them from achieving organisational objectives before it becomes too late. Most of the organisations do not actually plan to acquire highly qualified and skilled labour force, but most often to retain the employees on whom the organisation has already exerted substantial money and time. It mirrors that organisation will risk the creativity of its workforce if it does not properly plan for the development of its employees. Mathis (1997, p314) suggests that, â€Å"development can be thought of bringing about capacities that go beyond those required by the current job†¦As such, it benefits both the organisation and the individual’s career†.

When the Antibiotics Quit Working Assignment Example | Topics and Well Written Essays - 500 words

When the Antibiotics Quit Working - Assignment Example An antibiotic is a medication that is used to cure pathologic conditions of the body that result mainly due to bacterial infections. This group of drugs has the capability of restricting the growth of bacteria by many mechanisms and they are particularly very useful because these drugs possess the specificity of mainly attacking the bacteria. This property makes them very useful because this allows them to specifically target the microorganisms and not the host cells. Antibiotics are drugs which are prescribed by the doctors for the treatment of severe infections which are caused by bacteria. These drugs are not useful against viral infections because they are not effective in that case. The use of antibiotics has greatly increased over the years. With this rise in the prescription of these medications, there has also been a rise in their ineffectiveness. This incompetence of the drugs results due to the development of antibiotic resistant bacteria. The reason behind this is that when the bacteria come under attack by these drugs, they have the capability to undergo certain changes via many mechanisms which make them resistant to that particular drug. After the development of one strain of resistant bacteria, there is a quick spread and if the same bacterium infects another person, it will still be resistant to the antibiotics. This can be very harmful and it is via this mechanism that the antibiotic resistant tuberculosis has resulted. Hospitals serve as pools for the generation of these resistant strains. Also the immediate prescription of antibiotics without an initial treatment with alternative medications can be counted as a reason for leading towards this prob lem. Antibiotic overuse with animals also results in resistant bacterial strains within animals and when these are consumed by humans, they also result in diseases by bacteria which do not respond to certain

Human Memory Essay Example | Topics and Well Written Essays - 1250 words

Human Memory - Essay Example In contrast, as is attested by anyone who knows a person ravaged by Alzheimer's disease, even with normal sensory input, lack of memory is profoundly debilitating (Smith 267). Earlier work in the study of memory was confined to association between stimulus and response. However, current studies emphasize cognitive or mental processes over stimulus response association ( Morgan 184). How does the brain memorize information In order to answer this question, one must study the three stages of memory- encoding, storage and retrieval. Suppose you saw a parakeet for the first time in your life when your friend showed you one in the park last week. Subsequently when you went to the bird sanctuary today and saw a similar bird you immediately recognized it as a parakeet. This simple act actually entailed three steps; when your friend showed you the parakeet, you transformed the information that this bird is called a parakeet( the sound input) and that's what it looks like (the visual input); which are physical inputs into the kind of code that your memory would accept. This stage is called the encoding stage. The storing of this information for a week was the storage phase and when you retrieved the information to recognize the bird this morning; that was the retrieval stage. Memory can fail yo Memory can fail you at any one of these stages. Recent studies have shown that while encoding most of the activated brain regions are in the left hemisphere and during retrieval in the right hemisphere. Long Term and Short Term Memory. When a friend gives you his or her phone number verbally, its relatively easy to repeat it immediately. However recalling it after a day becomes difficult. Repeating the number immediately is an example of short term memory while recalling it after a day is constitutes long term memory. Experiments on small mammals and observation of people with damage to some parts of the brain have shown that the hippocampus a brain structure beneath the cortex is responsible for short term memory; whereas, the front of the cortex is responsible for long term memory (Atkinson 258). Usage Of Different Memories For Different Types Of Information Recent evidence has indicated that that different types of memories are used to store two different types of information; a fact such as the name of the current president- this uses explicit memory and a skill such as playing a piano- this uses implicit memory ( Atkinson 259; Smith 269) Even though short term memory involves recall of information in a few seconds it still goes through the three stages of encoding, storage and retrieval. To encode information we must first attend to it. Most issues with memory lapses can be attributed to a lack of attention. Since we are selective about what we attend to; only that memory will be encoded and can later be retrieved. The three types of coding used are- visual when the input or representation is visual such as a picture, acoustic when the information is verbal, such as somebody saying something, and semantic when the infor

Assignment Example | Topics and Well Written Essays - 500 words - 25

Assignment Example Significance of Human Resource Management FunctionIn the health sector, human resource management function cannot be underestimated. The human resources seek to enhance the patient’s satisfaction and the quality of services. Quality in health care is defined in two ways; sociocultural quality and technical quality. Technical quality entails the impact the available health services can have on the overall health condition of the population. Sociocultural quality refers to the level services’ acceptability in order to satisfy the patient’s expectations. The above-mentioned functions are performed by the human resource, and they cannot be run smoothly without their intervention. Formulation of a better strategy to manage the organization functions is one of my interests in the field of human resources. The health sector is faced with many problems that require the assistance of a human resource manager. Some of these issues include workforce training issues, and hea lth care workforce composition and distribution. My interest will be to solve these issues in the position of a human resource. The role I can perform well in human resources is the operational and employee advocacy role. Employees face a number of problems that require the intervention of the human resource. This is because I am capable of taking into consideration the employee’s concerns and issues effectively. A role that can be a challenge to me is the administrative role. It will be a challenge since I require a more involving role.

Marketing in the digital age-Kodak Essay Example | Topics and Well Written Essays - 1000 words

Marketing in the digital age-Kodak - Essay Example It was only in the year 1892 that the company was renamed as Eastman Kodak Company of New York, only to be formed again under the New Jersey law as Eastman Kodak Company of New Jersey. Kodak expanded its operation and grew gradually by its low cost mass production concept, international distribution, extensive advertising and customer centric business policy. The initial years of the company was dedicated to the production and supply of low cost photography tools and make it available to the common people. It was not long before the company understood the true potential of the world market. Based on this fact the company expanded its operation to rest of USA, only to be followed by marketing in France, Germany, Italy and other European countries. As of today, Kodak has expanded its manufacturing operations in South America, Europe and Asia. Kodak has great exposure and popularity in the motion picture industry as well. Most of the movies are shot in Kodak film and the company has received 8 Academy Awards for scientific and technical excellence. Over the years especially in the early 1900s Kodak made lot of technical advancement in the world of photography. Kodak Developing Machine was introduced, which helped in processing films without a dark room. It also introduced the Non-Curling film, which has dominated the world of amateur photography for more than 30 years. Aerial cameras were developed by Kodak, which was extensively used during the World War 1. Along with the technical development the company was also doing well financially, with its worldwide employment crossing the figure of 20,000. The thirst for development in the field of photography and its accessories was never ending for Kodak. The company went on introducing new technology and products both for the consumers, the motion picture industry and for business use. It was in

Assignment Example | Topics and Well Written Essays - 500 words - 25

Assignment Example Significance of Human Resource Management FunctionIn the health sector, human resource management function cannot be underestimated. The human resources seek to enhance the patient’s satisfaction and the quality of services. Quality in health care is defined in two ways; sociocultural quality and technical quality. Technical quality entails the impact the available health services can have on the overall health condition of the population. Sociocultural quality refers to the level services’ acceptability in order to satisfy the patient’s expectations. The above-mentioned functions are performed by the human resource, and they cannot be run smoothly without their intervention. Formulation of a better strategy to manage the organization functions is one of my interests in the field of human resources. The health sector is faced with many problems that require the assistance of a human resource manager. Some of these issues include workforce training issues, and hea lth care workforce composition and distribution. My interest will be to solve these issues in the position of a human resource. The role I can perform well in human resources is the operational and employee advocacy role. Employees face a number of problems that require the intervention of the human resource. This is because I am capable of taking into consideration the employee’s concerns and issues effectively. A role that can be a challenge to me is the administrative role. It will be a challenge since I require a more involving role.

Can be chose Essay Example | Topics and Well Written Essays - 3250 words

Can be chose - Essay Example Being a wife entails many things, and this has largely been constructed by different civilisations over the years. Recent decades, however, have seen these traditional being challenged in great detail for the first time in quite a long time as women attempt to gain more solid footing in society. One way to accomplish is to slowly recreated the homemaker role into one that is more balanced between the sexes, more accommodating to the desires of the women, and one that is more is open and accepting of sexual minorities. It has recently been said that â€Å"many women want to have weeding: few of them want to be wives† (Spender, 1994). This statement is quite profound in terms of the reality that shifting demographics, in addition to renewed feminist attitudes, are reshaping the tradition concept of marriage and family. While Splender’s comment may, on the surface, appear to be absurd, there is certainly an element of truth to you. This can be stated because one has to con sider the western construct of the concept ‘wife’. Historically, a wife has been commonly viewed as a homemaker and child-bearer. If that continues to be the reality, then women today have moved beyond that and are not desiring of the tradition definition utilised by society for generations. The very concept of ‘wife’, therefore, is shifting. Until that mindset is complete, however, women will likely hesitate to be viewed as a wife, but will still look forward to and long for their dream wedding. This paper explores the playing out of gender in terms of socialisation and coupling, with a particular focus on the role that weddings will likely play in Western society moving forward. 2. Theoretical Context Feminism is really about questioning the societal roles that attempt to define and confine the place that women have in our culture. In essence, as Judith Butler continually points out, it is about stepping out from the commonly conceived notions of gender a nd reconstructing an entirely new identity. Her groundbreaking 1990 book and theoretical expose on gender issues, â€Å"Gender Trouble: Feminism and the Subversion of Identity† reinvigorates the discussion of women and their role in society by demonstrating the even those on the sexual margins should be gradually more accepted into the society’s fold. Butler herself, through this book, begins to question the very definition of woman. She effectively does this by looking at the masculine and feminine constructs existent in society today, and how those have changed over the years. While Butler moves far out into theory relating to sexual minorities in this book, her focus is primarily on the feminist thought process. This theoretical construct relates well to the theory in question for this essay. She talks at length, for example, about a women’s desire to dress, sometimes provocatively, in order to show off the feminine form. At the same time, however, the modern feminist wants to challenge the masculine nature of our society, making it in almost universal subject open for debate. This relates well to the institution of marriage. With the traditional mindset that there are definite masculine and feminine roles to be carried out by husbands and wives respectively, Butler would contend that today’s woman has the right to challenge these concepts.

Virtue and Friendship Essay Example for Free

Virtue and Friendship Essay Friendship is a type of relationship between two people who care about each other. But such a dry definition doesnt do the concept of friendship justice. Consider these examples: A friend is the first person you want to call when you hear good news. A friend remembers that you dont like. In other words, friendship is wonderful, and much ink has been spilled in citing the virtues of having friends. Thats not to say friendship is easy, though. It demands time and effort, and it requires that people put someone other than themselves first sometimes. But in exchange for that work, a friend can provide an immense amount of support and comfort in good times and in bad. Many qualities are necessary for a good friendship, including honesty, trustworthiness, loyalty and unconditional acceptance. A friendship should make both people in the relationship happy; both people should have fun when they spend time together. To be perfectly frank, thats a tall order. Human beings can clash very easily, which is why its hard for some people to maintain many friendships. Its possible that friendship can exist between two people at one stage of life, but life changes and personal growth may make friendship impossible at another stage. It can be hard to meet the people who would make the perfect friend. To draw the conclusion, one can say that friendship is a relationship built on trust and understanding. And it’s hard work for both, to accept each other as they are.

Economic Development of India and China

Economic Development of India and China ABSTRACT This study looks at the factors that have shaped the economic development of India and China. Starting in the 1990s, a gap emerged in the economic development between the comparable countries. This gap can be attributed to many factors including: China’s authoritarian government and focus on infrastructure, India’s focus on the service sector rather than manufacturing, and India’s late embrace of the market economy. Although this gap has been consistent since the 1990s, there is a possibility to close the economic developmental gap between the two Asian countries. INTRODUCTION India and China are both leaders in Asia’s emerging market. However, currently, China gets ten times more foreign direct investment than India. This paradox is so intriguing because up until the 1990s, India’s highway and railway infrastructure system was far beyond that of China, and until 1993, the two countries had similar GDPs. However, beginning in the 1990s, a gap emerged in the economic development between the two countries. This study will look at the economic performance, path to modernization, and political similarities and differences. All of these factors play a role in the gap that has emerged.   The globalization process has played a large role in the development of countries worldwide. Firstly, this study will delve into globalization and how the process has impacted each country differently. Secondly, we will look at what factors indicate why China has developed at a much faster pace than India. Finally, it will look at the possibility of bridging the gap.    THEORETICAL FRAMEWORK Assumption 1: The transformation of development has changed due to globalization. Less developed countries do not have to invest time and capital in research and development; borrowing technology creates faster development. Hypothesis 1: China and India have vastly different markets and political strategies. Globalization had led to massive economic growth in both, however, the different economic and political choices made by both countries have impacted their speeds of development   Theoretical Lens: This study will utilize the liberalist theoretical lens to analyze this study. This theoretical approach abides by the assumption that the driving force behind economic integration is globalization. Therefore, implemented it will lead to increased trade and investment. Globalization has played a heavy role in the development of both India and China, and can assist in the explanation of the gap that has occurred. Globalization is supported by classical economic liberals because they adhere to what globalization essentially stands for. Because this study focuses primarily on economic development, this study will utilize the focus that the liberal school of international relations has on the economic benefits of globalization.   Globalization has assisted in the worldwide spread of large companies, democratic values (India), and skill sets. China is a perfect example of the benefits globalization can offer. Their growth can be attributed to their large manufacturing export sector and the market incentives that came when they opened their economy.    METHODOLOGY Research Question: How are China and India’s different choices responsible for India’s lag behind China? Thesis Statement: The gap that has occurred between India and China can be attributed to various factors including India’s focus on the service sector, the lack of government cohesiveness, and their late opening to the global market.    Data Collection: I chose these two specific countries for a few reasons. These neighboring countries share a 2000-kilometer border. They each have a large population and similar objectives. Their relationship has transformed in many ways in modern history; transitioning from ally to rival and back to allies again. They both endured devastating famines and they are both historically very similar. One of the biggest gaps that I noticed is that their pace to development differs greatly. This gap began to occur in the 1990’s, therefore my study will focus on 1990-now. This paper will rely primarily on qualitative research found in scholarly journal articles and books. The sources are available on the internet.   The Journals utilized includes: Journal of Indian Business Research, Modern Asian Studies, The China Quarterly, Asian Survey, Comparative Politics, and International Affairs. This study also used data from the World Bank, the Organization for Economic Cooperation and Development (OECD), and the United Nations Educational, Scientific and Cultural Organization (UNESCO). BACKGROUND When looking at each countries’ current state, it is important to acknowledge their respective histories and the role that they played. Both China and India have a long history, however, their histories vary. Both were major exporters of textiles and largely dominated the seas until 1500. Both countries have vast territories and utilized this in the agricultural sector. However, China’s history drove it towards mass industrialization. China is a large, centrally run state and has a history of stability and single authority. Their country views itself as a unitary, hard state. This allows them to pursue single goals with ease and mobilize resources effectively. India endured foreign rule from the British until their Independence in 1947. India struggled to find unity within diversity and articulating an integrated vision of Indian nationhood. They had issues because they were trying to accommodate different languages and religions within a democratic framework. However, the average Indian was slightly better off than the average Chinese the first few years after India’s independence. These historical legacies have greatly influenced the political and economics of China and India. CHAPTER I: GLOBALIZATION IN DEVELOPING COUNTRIES The globalization process has introduced numerous opportunities and threats to India and China. Both countries have extensively liberalized their economies in recent years and they have seen rapid economic growth in the past two decades. However, these two countries have benefited from these opportunities at very different rates and responded to the process in different ways. This is where our study’s first questions is introduced: The globalization has effected developing countries differently, why? The ambassador to the Geneva Center for Security Policy defines globalization as, â€Å"A complex process that involves economic integration, transfer of policies across borders, and the transmission of knowledge.† [1] It is a process that encompasses the causes, course, and consequences of transitional and transcultural integration of human and non-human activities. Therefore, it is evident that this concept plays an integral role in this study. Global integration has decreased poverty in China more so than in India. However, there has been an overall decline in poverty for both countries. The main difference between China and India is the inequality that has developed in India due to the change in economic status within the society. Overall, globalization and economic integration has increased the number of people living in extreme poverty in the world’s richest and poorest countries.    India India is still in the ongoing process of globalization and economic integration into the world economy.   Most scholars believe that the starting point for economic liberalization in India is began in 1991.[2] This is when the government openly sought integration into the economy and their orientation shifted. This included the removal of tariffs and restrictions on foreign trade. The Indian government also liberalized their foreign direct investment and cut taxes during this time. Although there was an orientation shift in 1991, regions within India experienced very different growth rates. This is mostly a result of the differences in foreign direct investment flow. During this time, only 4 regions accounted for 43.74% of FDI in the country.[3] Globalization caused uneven growth regionally as well as in different sectors. Growth in the agriculture sector declined significantly in comparison to the manufacturing and service sectors. If growth would have been spread more evenly throughout the various sectors, inequality and poverty would decrease across the country. China China’s rapid growth is associated with them being one of the first Asian countries to integrate the globalization process and open up to the world economy. In the past 40 years, China’s approach to development has been so successful that they are now ranked as the second most important economy. They began their economic reform in 1970s which gave them a head start in growth rate in comparison to other countries in the region. Currently China’s service sector is much broader than India’s. This includes tourism, business, and transport services. Globalization has led to rapid economic development within China.   In the 1990s, China focused on being labor intensive. They diversified their export sector to include computer equipment and telecommunications. Their manufacturing increased from 72% of merchandise exports to 91%.[4] This demonstrated China’s importance in the world economy and the manufacturing sector. Overall, the globalization process sped up the GDP growth rate in China. It also decreased their vulnerability to economic crises. It actually protected them from the Asian financial crisis in the 1990s. Different choices in history by China and India have resulted in China being a leader in economic development. This is because China opened up their markets earlier and India started in 1991. India also did not focus on industrialization. They specialized in services and IT. Unfortunately, the IT-sector does not contribute a large benefit to GDP, therefore, this growth did not result in significant growth within India. CHAPTER 2: FACTORS THAT STIMULATE DEVELOPMENT INEQUALITY This chapter will look factors that have encouraged the rise of China and lag of India. This puzzle is specifically intriguing because the countries’ GDPs were so similar up until the 1990s. This is where the second question within this study is introduced: Why has China developed so much faster? Below are the main reasons why China is so far ahead of India: China is an Autocracy. The Chinese authoritarian government owns all of the land. China’s government allows for quick land acquisition for development of infrastructure projects and to restore and rehabilitate the displaced people. This leads to faster decision making and faster implementation.   In the 1990’s China had a rapid infrastructure push and roads, railways, and airports were built. Rather than waiting for the need to arise, China’s government built for their country’s projected needs. For the most part, the policy decisions decided on are not altered by different party politics, ideology or leadership change. This allows the government to stay committed to a focus on their economic growth. One of the most successful government implemented policies is the encouragement of resource mobilization. China has an extremely strong savings culture. There are four large state banks that citizens deposit their money into. Overall, China has a faster growth of capital stock which results in rapid growth of capital intensity. This high savings rate has transformed into available capital. This capital is directed by the leadership into various key projects. This correlates to China’s focus on infrastructure projects. This capital has financed the majority of the government infrastructure projects in China. China embraced a market economy early. China experienced one of the greatest comparative advantages in economics’ history. In the 1990’s, China began to focus more on their relations with strong global powers like the United States, Russia, Japan, and European countries. They embraced market economy in 1992 and utilized their massive amounts of land. Land reform led to equitable distribution of income and wealth throughout the country. China has a strong manufacturing base. When China invaded the world market, they focused on labor-intensive manufacturing sectors like textile and apparel. They successfully transitioned from agriculture into high productivity sectors. They began to focus their orientation largely on exporting manufacturing goods. China successfully became the world’s manufacturing hub by creating low-cost electronic and hardware products. This provided a much needed boost to their economy and a substantial amount of jobs were provided. China has favorable demographics. China’s population provides them with a massive market making their current demographics favorable for a strong economy. China currently has more people in working age which leads to higher productivity and a higher GDP. However, due to the One Child Policy, this is expected to decline in the future. That being said, China’s population has been one of their best selling points. Chinese leaders organized delegations, hosted conferences, and successfully convinced foreign investors that China was stable and committed to an open-door policy. They essentially used their massive size as a selling point to increase foreign investment. Additionally, China’s population has a high literacy rate compared to India. Mao rapidly increased literacy rates within China, particularly in women. In 2012, the adult literacy rate was 96.4% in China and 71.2% in India.[5] China has a hidden source of income: the tourism industry. They host almost 6 times more tourists every year in comparison to India. This industry creates over 60 million jobs in China. This hidden source of income dominates their service sector. China has a flexible investment zone. They have a highly developed bond market where investors can easily hedge their risks against deviations. They also have the China Development Bank which heavily finances their infrastructure development. Their government has successfully created flexible investment zones, and export processing zones that are combined with tax incentives and strong infrastructure. China has a much higher FDI from OECD countries due to its large domestic market.[6] They also have stronger international trade ties with these countries. Below are the main reasons why India’s growth has been stunted in comparison to China’s: India’s growth model: India has focused predominately on an idiosyncratic pattern of development. However, they have emphasized services and skill-intensive manufacturing rather than labor- intensive manufacturing.[7] India is a democracy. India’s government politicians’ policy decision are often driven by what will get them the most votes rather than what is necessarily right for the country. Winning elections is prioritized, and things like subsidies take precedence over large infrastructure projects. This causes delays and the result is ineffective decision making. They have multiple political parties with no coherent approach to development. Additionally, the government has not provided a stable macro-economic environment. India’s main focus is on the service sector. India never experienced mass industrialization or a boost in the manufacturing sector. They still currently focus on the service sector which includes skill and knowledge.   The service IT-sector which India has focused on does not contribute a large benefit to GDP. India’s economy opened up much later than China. The economy is currently largely closed and trade is a much smaller part of its economy. Their country fosters a sense of protectionism that prohibits companies from owning a majority of a company within India. The intention of this policy was to foster native companies, however, it has stifled their growth and economy. However, in 1991, Prime Minister Narasimha Rao implemented reforms to accelerate Indian economic growth.[8] These results were short lived, and due to political paralysis of policies, economic growth was stunted once again.   India has a poor methodology towards infrastructure. India’s approach to infrastructure is to wait for the demand to arise before building. China is the opposite. India’s mall infrastructure projects have been funded by private companies. India is in dire need of a development finance institution (a lender solely for long-term infrastructure projects). India lacks the business-above-all attitude. Unlike China, India has extremely stringent environmental protection laws. This often leads to cost escalation. It has been referenced as a third world country with first world ambitions and resources but outrageous environmental ethics.[9] Trade and economic growth have not been paramount in India. Their focus on native companies and local industry has curbed and restricted foreign investment. CHAPTER 3: LESSONS TO BE LEARNED AND PROSPECTS FOR THE FUTURE What are some policy lessons to be learned? The education system needs to be at the forefront. It is important for India to maintain the current comparative advantage over China within the IT-sector. In order to do that, India must continue to reform the educational system and promote education throughout the country. Overall, the average level of education needs to increase. Additionally, specialized training can further strengthen their labor force. Finally, India’s government needs to realize that industrialization rather than service specialization is needed to reach high growth rates. Is it possible to bridge the gap? Demographically, India’s population and market will soon be the size of China’s. By 2020, India’s working age population is projected to overtake China. This is partially a result of China’s One Child Policy. The UN projected that India will have more than 1 billion people in working age by 2050. As of 2012, India’s fertility rate was at 2.5 compared to China’s 1.7.[10] India also offers cheaper labor costs, geographic closeness to many OECD investor countries, and lower country risk. This can increase their prospects for increased FDI investment. In efforts to boost tourism, India is implemented a new policy that allows for visa on arrival without the need to visit an Indian consulate or visa center. This policy has the opportunity to increase country revenue and support job growth within the service industry. Since the election of Prime Minister Narendra Modi in 2014, foreign investment has been increasing in India. PM Mobi has pledged to banish India’s reputation as a hard place to invest and do business. He also plans to invest heavily in rail, roadway and energy infrastructures. He promises to create efficient bureaucracy, develop the necessary infrastructure to support profitable industries, and work side by side with foreign and domestic investors to efficiently implement their projects.[11] CONCLUSION There are various economic and political choices made by both countries in the past that have largely effected their developmental success today. This study identifies these reasons as specific pieces to the gap puzzle. When we look at these as a whole we can see why there is such a large gap in the economic development of India and China. China’s began their orientation towards the world economy in 1978, while India did not shift their orientation until 1991. It is possible to successfully bridge the gap between the two countries. However, considering the 15 year head start that China has on India, this process will take time. That being said, India’s new Prime Minister Narendra Modi offers a glimmer of consistency and productive policies to ensure India’s continued development. REFERENCES DeLong, J. B. (2003). India since independence: An analytic growth narrative.  In search of prosperity: analytic narratives on economic growth, 184-204. G.K. Kalyanaram, (2009) Indias economic growth and market potential: benchmarked against China,  Journal of Indian Business Research, Vol. 1 Issue: 1, pp.57-65,  https://doi.org/10.1108/17554190910963208 Fravel, M. (2010). International Relations Theory and Chinas Rise: Assessing Chinas Potential for Territorial Expansion.  International Studies Review,  12(4), 505-532. Retrieved from http://www.jstor.org.library3.webster.edu/stable/40931355 Hall, I. (2017). Narendra Modi and Indias normative power.  International Affairs,  93(1), 113-131. Malik, J. (1995). China-India Relations in the Post-Soviet Era: The Continuing Rivalry.  The China Quarterly,  (142), 317-355. Retrieved from http://www.jstor.org.library3.webster.edu/stable/655419 Nayef R.F. Al-Rodhan and Gerard Stoudmann, (2006) â€Å"Definitions of Globalization: A Comprehensive Overview and A Proposed Definition†, Geneva Centre for Security Policy, available at http://www.gcsp.ch/e/publications/Globalization/index.htm. Reich, M. R., & Bowonder, B. (1992). Environmental Policy in India.  Policy Studies Journal,  20(4), 643-661. The World Bank, World Development Indicators (2012). Fertility rate, total (births per woman). Retrieved from http://data.worldbank.org/indicator/SP.DYN.TFRT.IN.   UNICEF (2012). State of the World Statistics, Retrieved from https://www.unicef.org/infobycountry/india_statistics.html Wenhui Wei, (2005) â€Å"China and India: Any difference in their FDI performances?†, Journal of Asian Economics, Volume 16, Issue 4, 2005, Pages 719-736, ISSN 1049-0078, http://dx.doi.org/10.1016/j.asieco.2005.06.004. [1] Nayef R.F. Al-Rodhan and Gerard Stoudmann, â€Å"Definitions of Globalization: A Comprehensive Overview and A Proposed Definition†, Geneva Centre for Security Policy, 2006, available at http://www.gcsp.ch/e/publications/Globalization/index.htm. [2] G.K. Kalyanaram, (2009) Indias economic growth and market potential: benchmarked against China,  Journal of Indian Business Research, Vol. 1 Issue: 1, pp.57-65,  https://doi.org/10.1108/17554190910963208 [3] G.K. Kalynarma, (2009). [4] Fravel, M. (2010). International Relations Theory and Chinas Rise: Assessing Chinas Potential for Territorial Expansion.  International Studies Review,  12(4), 505-532. Retrieved from http://www.jstor.org.library3.webster.edu/stable/40931355 [5] UNICEF (2012). State of the World Statistics, Retrieved from https://www.unicef.org/infobycountry/india_statistics.html [6] Wenhui Wei, (2005) â€Å"China and India: Any difference in their FDI performances?†, Journal of Asian Economics, Volume 16, Issue 4, 2005, Pages 719-736, ISSN 1049-0078, http://dx.doi.org/10.1016/j.asieco.2005.06.004. [7] Malik, J. (1995). China-India Relations in the Post-Soviet Era: The Continuing Rivalry.  The China Quarterly,  (142), 317-355. Retrieved from http://www.jstor.org.library3.webster.edu/stable/655419 [8] DeLong, J. B. (2003). India since independence: An analytic growth narrative.  In search of prosperity: analytic narratives on economic growth, 184-204. [9] Reich, M. R., & Bowonder, B. (1992). Environmental Policy in India.  Policy Studies Journal,  20(4), 643-661 [10] The World Bank, World Development Indicators (2012). Fertility rate, total (births per woman). Retrieved from http://data.worldbank.org/indicator/SP.DYN.TFRT.IN.   [11] Hall, I. (2017). Narendra Modi and Indias normative power.  International Affairs,  93(1), 113-131.