The feasibility of different techniques for providing fresh water to Research Paper

The feasibility of different techniques for providing fresh water to arid regions of the world - Research Paper Example To make matters worse, the little water received in these areas is usually not safe for domestic, agriculture and commercial use and there an urgent need to provide fresh water. To do so, policy makers explore various fresh water provision techniques as discussed in subsequent sections of this report. 2.0 Fresh water provision techniques In endeavors to provide fresh water to the arid regions of the world, different techniques are employed that include ground water drilling, desalinization and piping techniques. These techniques often vary from those employed in areas where precipitation is high. Therefore, climatic conditions in arid regions dictate to a large extent what technique(s) is most appropriate. Key issues in water provision and water resource management which dictate appropriate techniques will include availability of adequate supply, conservation measures, cost effectiveness, pricing and sustainability. 2.1 Ground Water Drilling Technique Ground water is normally obtaine d from aquifers through drilling and piping the water to the surface for various uses. This technique involves identification of areas in arid regions that have sufficient and quality underground water for agriculture, domestic and commercial use. The technique is more preferred to its low cost of establishment compared to other techniques like desalination. To ensure sustainable use of underground water, policy makers and regulatory authorities establishes water databases through registration of wells and their yields, documenting water composition, control of drilling in all phases and regular monitoring of water table and changes in salinity. However, the challenge with this technique is that over time demand for fresh water has increased both socially and economically requiring more wells to be dug. For example, over the last 3 decades, demand for water within the United Arab Emirates and other Gulf states which are often classified as arid regions, was estimated to increase fro m 4,250Mm3/ year in 1980 to 35,395Mm3/ year by 2010 (Alsharhan et al 2001, 277). Therefore, this means that governments in arid regions have to drill more wells or explore alternative fresh water supply techniques. This water supply technique faces various challenges relating to quality and sustainability. One, underground water may contain dissolved solid substances whose value is above the established norm. Establishing these levels require sophisticated technology which is costly and often not at the disposal of most governments in arid regions. Where levels are higher than the benchmark standard, such wells have to be closed or alternative technologies to reduce the hazardous effects of these particles employed (California Environmental Protection Agency 1995, 5). For example, high fluoride levels are common in arid regions where fluoride levels have to be reduced to the World Health Organization (WHO) to reduce effects of tooth decay and bone weakening. In addition, underground water

Course Project Essay Example for Free

Course Project Essay (A). Law Review Article: Tristin K. Green, Discrimination in Workplace Dynamics: Towards a Structural Account of Dispute Treatment Theory, 38 HARV. C. R-C. L. L. REV. 91 (2003) (B). Government Agency Website:http//hreoc. gov. au/about/mailing-lists/index. html Section two Gender Discrimination Worker Type Employee Handbook Undocumented Workers Marital Status Employee Freedom Family Responsibility Employee Privacy Pay and Hours Health and Safety Section three Jury finds Curtiss-Wright liable in gender bias case. Oct. 25, 2006. This was a case whereby Curtiss-Wright who is a maker of aircraft electronics lost a $9M verdict when a woman executive was passed over for a promotion and later fired because of her gender. This case is very much relevant to Ms. Collins’ . As is clear, one of Ms. Collins claims is that she has never been promoted since she joined `ABC’ as an account executive since 1989. Again all the male employees hired during the same time and with the same classification as hers have evidently been promoted one to four times and have a salary to boot. $1. 6M Suit Alleges Gender Discrimination. March 22, 2004 In this case, former chemical engineering assistant professor, Lynn Russell, filed a 1. 6M suit against the university as she alleged gender discrimination and breach of contract. The suit claims chemical engineer chair discriminates against female junior faculty and undermined Russell’s tenure. This case is relevant to Ms. Collins as it is an evidence of her claims of being discriminated against. It is a strong indication that gender discrimination does exist. Tropicana Sued for Discrimination Against Pregnant Woman. Sept. 12, 2003. A federal law suit was filed by The Equal Employment Opportunity Commission against Tropicana Casino Resort alleging it violated a pregnant employee’s civil rights. According to 32 year old Elizabeth of Lancaster, she was fired 24 hours after she informed her boss about her condition who refused to allow her to work part time claiming the job was performance related. This particular case is very much relevant to that of Ms. Collins as it is evident that employers do not put into consideration that women are likely to go on maternity leave as a result of pregnancy. Again, at times one will call in sick. Like in Ms. Collins case, she is always getting home on emergency calls as she has disabled child who suffers from severe medical and emotional problems. Does it mean that she will lose her job when she requires an immediate leave to attend to her child? Robinson may settle Lawsuit for $15Mril 13, 2006 C. H Robinson, a transportation logistics company is said to have reached what is said to be a tentative settlement with former and current women employees over the allegations of gender discrimination in pay and promotion. This is so much like Ms. Collins case whose main cry is low pay and being passed over for promotion. EEOC Accuses Die Maker of Bias Against Women. July 24, 2003 The government says that a Northeast Ohio tool-and-die maker has deemed women too weak to work in the company. This is a clear indication that employees overlook women when it comes to certain jobs just like in Ms. Collins case where she says that her employee claims that she does not fit the image right for the higher positions. Section four Brown O. Judith, Subrin N. Stephen, Baumann T. Phyllis, Some Thoughts about Social Perception and Employment Discrimination Law: A Modest Proposal for Keeping the Judicial Dialogue, 46 EMORY L. J. 1487 (1997) Godsil D. Rachel, Expressivism, Empathy and Equality, 36 U. MICH. J. L. REFORM 247(2003)

Slavery position with writers :: essays research papers

The issue of slavery in the nineteenth century produced an overwhelming issue in society. There were some writers that favored slavery and then there were some that did not favor slavery. In favor of slavery were William Gillmore Simms, and Caroline Hentz. Those opposed to slavery were Frederick Douglass, Harriet Beecher Stowe, Henry David Thoreau, and Herman Melville. All of these writers presented their views of slavery in the their literary works.   Ã‚  Ã‚  Ã‚  Ã‚  William Simms was a supporter of slavery and this evident in his novel, â€Å"Woodcraft.† This novel takes place in the south during the closing of the Revolutionary War. Simms was born in Charleston, South Carolina, so he was raised on the souths’ position of pro-slavery. In Simms novel Woodcraft, he states, â€Å" Exhaustion not wisdom, or a better state of feeling, was the secret of the peace which was finally concluded between the two nations (America and Great Britain), and of which, South Carolina, and Charleston in particular, was eagerly expecting the benefits. (Simms 35) Great Britain had spent most of the Revolutionary War occupying Charleston and the soldiers would stay at the peoples’ home with out the homeowners consent. This angered many townspeople in Charleston and many other townspeople throughout the south. Since the war was coming to an end the people of Charleston could have their city and homes again. Also meaning plantat ion owners and slaver owners could resume back to their work of the land, which was the major source of economy in the south. During the Revolutionary War, Great Britain was re-stealing the slaves of slave owners in the south. In â€Å"Woodcraft,† it is stated, â€Å" South Carolina had already lost twenty-five thousand slaves, which British philanthropy had transferred from the rice-fields of Carolina to the sugar estates of the West India Islands; and there were yet other thousands waiting to be similarly transported.† (Simms 35,36) Great Britain was taking slaves from America to use for their sugar estates. Many slave owners were very angry with the British for this, but in hindsight the slave owners had done the same thing when they would take slaves from their families or would split slaves families up. Carolina Hentz was also a supporter of slavery. She believed that the slaves were treated well and that they were best suited as slaves. Hentz uses examples in her novel, â€Å"The Planter’s Northern Bride,† as to how well treated slaves were.

The Scaffold of Sin in The Scarlet Letter Essay -- Scarlet Letter essa

The Scaffold of Sin in The Scarlet Letter   Ã‚  Ã‚   "This scaffold constituted a portion of a penal machine . . . . The very ideal of ignominy was embodied and made manifest in this contrivance of wood and iron" (Hawthorne 62-63). A scaffold's effect on the novel can be seen through an examination of the first, second, and third scaffold scenes.   These sections mark the beginning, middle, and end of the novel. The novel The Scarlet Letter, by Nathaniel Hawthorne, is constructed around a scaffold, which provides the story with a constant reminder of sin.      Ã‚  Ã‚  Ã‚  Ã‚   The first scaffold scene sets the stage for the novel; it establishes who the main characters are, and where they stand in relation to each other in the story.   This scene is where Hester Prynne's sin first appears in the novel.   The "Goodwives" of the congregation discuss Hester's crime of adultery: "This woman has brought shame upon us all, and ought to die" (Hawthorne 59).   The scaffold allows Hester Prynne's sin to be publicized and marveled at by the New Englanders.   It is here that the reader becomes aware of Hester being shunned as an outsider, when she is placed on the scaffold: "Knowing well her part, she ascended a flight of wooden steps, and was thus displayed to the surrounding multitude, at about the height of a mans shoulders above the street . . . . The unhappy culprit sustained herself as best a woman might, under the heavy weight of a thousand unrelenting eyes" (63-64).   At the same time, the first scaffold scene is the setting for the introduction of Roger Chillingworth, Hester'shusband, and establishes his desire to punish the man who has wronged both hi... ...ficant in its own way. Without the scaffold's presence, the novel, The Scarlet Letter, could not stand.    Works Cited and Consulted Brodhead, Richard H., "New and Old Tales: The Scarlet Letter," Modern Critical Views Nathaniel Hawthorne, New York, Chelsea House Publishers, 1986. Dibble, Terry J., Cliff Notes on The Scarlet Letter, Lincoln, Cliff Notes, Inc., 1988. Fogle, Richard Harter, "The Scarlet Letter," Hawthorne's Fiction The Light and The Dark, Norman, University of Oklahoma Press, 1975. Hawthorne, Nathaniel. The Scarlet Letter. New York: St. Martins, 1991. Matthiessen, F.O., "The Scarlet Letter," Critics on Hawthorne, Readings in Literary Criticism: 16, Coral Gables, University of Miami Press, 1972. Matthiessen, F.O., Twentieth Century Interpretations of The Scarlet Letter, Englewood Cliffs, Prentice-Halls Inc., 1968. The Scaffold of Sin in The Scarlet Letter Essay -- Scarlet Letter essa The Scaffold of Sin in The Scarlet Letter   Ã‚  Ã‚   "This scaffold constituted a portion of a penal machine . . . . The very ideal of ignominy was embodied and made manifest in this contrivance of wood and iron" (Hawthorne 62-63). A scaffold's effect on the novel can be seen through an examination of the first, second, and third scaffold scenes.   These sections mark the beginning, middle, and end of the novel. The novel The Scarlet Letter, by Nathaniel Hawthorne, is constructed around a scaffold, which provides the story with a constant reminder of sin.      Ã‚  Ã‚  Ã‚  Ã‚   The first scaffold scene sets the stage for the novel; it establishes who the main characters are, and where they stand in relation to each other in the story.   This scene is where Hester Prynne's sin first appears in the novel.   The "Goodwives" of the congregation discuss Hester's crime of adultery: "This woman has brought shame upon us all, and ought to die" (Hawthorne 59).   The scaffold allows Hester Prynne's sin to be publicized and marveled at by the New Englanders.   It is here that the reader becomes aware of Hester being shunned as an outsider, when she is placed on the scaffold: "Knowing well her part, she ascended a flight of wooden steps, and was thus displayed to the surrounding multitude, at about the height of a mans shoulders above the street . . . . The unhappy culprit sustained herself as best a woman might, under the heavy weight of a thousand unrelenting eyes" (63-64).   At the same time, the first scaffold scene is the setting for the introduction of Roger Chillingworth, Hester'shusband, and establishes his desire to punish the man who has wronged both hi... ...ficant in its own way. Without the scaffold's presence, the novel, The Scarlet Letter, could not stand.    Works Cited and Consulted Brodhead, Richard H., "New and Old Tales: The Scarlet Letter," Modern Critical Views Nathaniel Hawthorne, New York, Chelsea House Publishers, 1986. Dibble, Terry J., Cliff Notes on The Scarlet Letter, Lincoln, Cliff Notes, Inc., 1988. Fogle, Richard Harter, "The Scarlet Letter," Hawthorne's Fiction The Light and The Dark, Norman, University of Oklahoma Press, 1975. Hawthorne, Nathaniel. The Scarlet Letter. New York: St. Martins, 1991. Matthiessen, F.O., "The Scarlet Letter," Critics on Hawthorne, Readings in Literary Criticism: 16, Coral Gables, University of Miami Press, 1972. Matthiessen, F.O., Twentieth Century Interpretations of The Scarlet Letter, Englewood Cliffs, Prentice-Halls Inc., 1968.

Le Corbusier, the modernist

Architecture as a medium started during the Egyptian era, then the Greek and Roman Period followed, after which the development seemed just to have died down. No further design was evident but only reinvention of the three distinct styles from Byzantines to gothic, renaissance to baroque, neo-classicism to art nouveau and art deco. All contributed to designs of sinuous curves and decorations creating an atmosphere of brilliant exuberance (â€Å"Neoclassic†).However at the start of the 20th century a new movement was born – the international style of modern architecture. This is a form of rebellion on the established architectural norms at the time and to basically express in style that is totally different from the past. Coupled with the development of concrete, steel and glass, it became the barometer by which succeeding styles evolved (â€Å"History†).The International Style of ArchitectureThe international style is characterized by three basic principles; the marked influence of volume rather than mass; balance rather than applied symmetry; and the total expulsion of ornaments to the composition of the structure both in the faà §ade and interior spaces. This movement is brought about by the advent of the industrial revolution. Thus, the international style is anchored towards machines, or that structural spaces are â€Å"machines where one can live in† (â€Å"International Style†).One of the pillars of the international movement was Le Corbusier, the Swedish Architect who eventually made a name for himself while in Paris. He was a tireless artisan, through pamphlets, manifestos, magazines, books and even exhibitions he was able to project the merits of the movement not only in Europe but the America’s as well.Part of his (Le Corbusier) design innovation is; the structure is raised on stilts to make it appear light and floating; free flowing plan, so dwellers will have the freedom to rearrange the spaces according to their needs; make the walls independent of the structure – thus curtain walls were developed; provide horizontal bands of windows to keep the light in; and most of all top the structure with a roof garden to bring the natural environment to the structure (Rybczynski).The resulting structure is a study of steel columns and beams, a skeleton devoid of any decorative ornament. It projects an architecture that is harsh and brutal in appearance, but with the application of ground to ceiling plate glass windows it tempered the faà §ade and promotes the functional side of the structure. The walls are no longer planned as load bearing but only as decorative panels devised mainly to protect dwellers from the elements. The elevator shafts are now exposed and part of the design retinue (â€Å"International†).The Villa SavoyeThe most important building that expressed the tenets of the international style is the Villa Savoye, near the suburbs in Paris. This building is memorable since it was designed by one of the movers of the style – Le Corbusier. The Villa Savoye captures the essence of the movement because of its abject simplicity and is considered by many as the climax of Le Corbusier’s work as it virtually expressed the style in its purist form (Sullivan).What make the Villa Savoye the true representative of the international style are the different components that truly define the spirit of the style. The faà §ade is endemic throughout, meaning the design does not distinguish the front, the sides or the rear of the building and it is of plain reinforced concrete that added to its effortless appeal.The Villa Savoye is obviously modular in design and follows the pattern on human proportion; the building seems to float because of the series of â€Å"pilotis† or stilts that raise it from the ground, though it may be a form modern classicism; it does not have any attachment to historical ornament but is actually an expression of a mo dern abstract sculptural composition; and the external faà §ade is pure white that suggests birth, purity, simplicity and health (â€Å"LeCorbusier†).The building has an open interior plan that defines the logic of large spaces; to go up or down between floors is best served by a corkscrew spiral staircase and a reliable ramp system; the windows provides a wealthy interplay of light, reminiscent of industrial architecture; of course the feature that Le Corbusier emphasized is the roof garden at the top of the structure – to promote oneness with the natural environment even when inside the building; and the ground floor has an integral garage (â€Å"LeCorbusier†).All the characteristics of the international style as expounded by Le Corbusier are all incorporated in the Villa Savoye. And owing to the importance of the Villa Savoye to the international style, it has become a relic and a pilgrimage site for students of architecture.ConclusionNever in the history of architecture have a style that truly evolved without the undue influence of the past. Two movements have expressed the sincerity to really deviate from this form of evolution – the modern movement of Frank Lloyd Wright (organic style) and the international style. Both styles have echoed desires for large uninterrupted open spaces and simplicity in design without the use of elaborate ornaments.The development of the skyscraper in the United States put into full use the international style of architecture. The buildings were now constructed according to the new manual on steel construction with reinforced concrete as the material of choice on the walls and foundations. The faà §ade fully utilize the versatility of plate glass as it clad the structure from the ground floor up to the penthouse.The glass curtain walls may have added to the aesthetic appeal of the building, but it also plagued insulation engineers, for it resulted in problems about heating and cooling, particular ly during the cold and warm months. Therefore new standards were set as it increases the energy requirement of buildings.But, even with some negative perceptions, nobody can question the effects of the international style in our modern society. It has revolutionized our ideas of a modern structure.Bibliographyâ€Å"History.† Art Deco Architecture. 15 December 2007. .â€Å"International Style, in Architecture.† The Columbia Encyclopedia sixth edition. 2007. Columbia University Press. 16 December 2007. .â€Å"International.† Realtor Magazine Online. 2001. National Association of Realtors. 16 December 2007. .â€Å"LeCorbusier – Villa Savoye.† Boston College – Fine Arts Department. 12 November 2007. The Trustees of Boston College. 17 December 2007. .â€Å"Neoclassic Art and Architecture.† Microsoft Encarta Encyclopedia. 2001. Microsoft Corporation. 15 December 2007. .Rybczynski, Witold. â€Å"Le Corbusier.† Time. 8 June 1998. Time Inc. 17 December 2007. .Sullivan, Mary Ann. Bluffton University. 2006. 17 December 2007. .

The Bondage Breaker Book

The Bondage Breaker Book Introduction In most societies, religion plays an integral role in the spiritual growth and development of individuals. In times of tribulations, people tend to seek spiritual intervention for the alleviation of the problems inhibiting their progress in different endeavors. In this regard, religious leaders like those in Christian ministries have been on the forefront in fostering the application of religious perspectives in dealing with spiritual, social, and economic challenges.Advertising We will write a custom critical writing sample on The Bondage Breaker Book specifically for you for only $16.05 $11/page Learn More Dr. Neil T. Anderson, the founder of the Emeritus of Freedom in Christ Ministries (FICM), authored a masterpiece book, viz. â€Å"The bondage breaker: overcoming negative thoughts, irrational feelings, and habitual sins†, in a bid to make valid contributions to the alleviation of human suffering. This paper will provide a summary of A nderson’s book before an evaluation and critique are done to determine its application in the mitigation of human suffering from bondage. Summary Anderson wrote the book with the intention of providing readers with a perspective of seeking freedom from the religious point of view based on Christian teachings. He convinces the readers that everyone is entitled to the right to be free from any shackles that may inhibit his/her progress. In this light, behaviors that may be causing one’s tribulations require mitigation through spiritual intervention for the attainment of freedom. According to the author, Christians must challenge demonic powers in a confrontational manner in a bid to break the shackles that bind them. Additionally, the author affirms that Christians can break from their negative thought arrays by combating the temptations that derail them from conforming to the Christian values and expectations. Winning spiritual battles entails the affirmation of oneâ₠¬â„¢s identification with Christ, which fosters the escape from the bondage of sinful behavior (Anderson 2006, 140). Therefore, Anderson outlays a theoretical framework for overpowering irrational feelings, negative thoughts, and habitual sins.  The author explains human behavior by diverging from the old biological and psychological explanations. Christians are faced with slavery, which has been characterized by the emergence of occults and different forms of Satanism (Anderson 2006, 16). This aspect inhibits upright behavior that is expected from Christians since the modern world has embraced a substitute etiology of dysfunctional religious perspectives. The author regards maturity and freedom as the integral aspects of a successful Christian life. The two concepts have Biblical backing since the notions of sanctification and justification represent maturity and freedom respectively. He uses the Bible to show how Satan strives to interfere with the maturity of Christians by prev enting the knowledge of their identity and that of Christ.Advertising Looking for critical writing on religion theology? Let's see if we can help you! Get your first paper with 15% OFF Learn More Theologically, Christian healing from detrimental behavior is curtailed by the maturity a continual process, and freedom, which is instantaneous after an individual accepts salvation. Individuals that have been saved by the Christ face Satan’s deception to take them back from their former behaviors, hence it is essential for Christians to embrace maturity. Apparently, â€Å"the kingdom of darkness† enhances its deception by subjecting Christians to sin, failure, and negative habits (Anderson (2006, 34). In this light, Christians combat their tribulations through the application of contemporary means instead of embracing spiritual solutions. Dysfunctional behavior among Christians follows a rational change that starts with the perspective that an act w ould deviate from religious standards that depict the holiness of God. Ultimately, temptations result in immoral conduct that repeats itself to form habits. The loss of one’s control is a gradual process that leads to three detrimental phases of bondage. Self-depreciating judgments and thoughts of guilt characterize the first level of captivity. The second level is manifested by â€Å"strange evil voices† that tend to overwhelm one’s senses. The third level of bondage is depicted by intense oppression by satanic powers that strive to control an individual’s personality over time (Anderson 2006, 106-111). The imposition of the Satan’s illegitimate authority over humanity through deceptive means is accountable for the dysfunctional human behavior (Anderson 2006, 189). Therefore, the healing process is a personal responsibility through the embracement of Biblical ideas and identifying ones personality with Christ. Breaking away from Satanic subjective bondage involves a process of seven steps. The initial step is the counterfeit versus real, which involves the identification and renouncement of the current or prior engagement in false religions or satanic practices. The second step is termed as the deception versus truth and it involves the identification of the Satan’s deceptive approaches as manifested in an individual’s thoughts before replacing them with the truth found in the Bible. Bitterness versus forgiveness is the third step in the process whereby individuals relinquish their privileges to demand impartiality for the injustices they have suffered. The fourth step is rebellion versus submission, which requires Christians to make decisions that would indicate the authority of the biblical teachings through the portrayal that God is the provider and protector. Pride versus humility is the fifth step whereby the continual intervention of God in people’s lives is acknowledged as the factor for an effici ent Christian life.Advertising We will write a custom critical writing sample on The Bondage Breaker Book specifically for you for only $16.05 $11/page Learn More The sixth phase of the process is bondage versus freedom, which involves the confession and renouncement of habitual sins. The final step is acquiescence versus renunciation whereby an individual is expected to renounce ancestral sins and curses for the attainment of liberation (Anderson 2006, 192-221). The author suggests that the inevitability of freedom from bondage would be achieved through the application of the healing process resulting in the alleviation of dysfunctional behaviors. In a bid to maintain freedom, the healing process may be repeated if necessary to foster the newly acquired freedom. Evaluation and Critique Anderson approaches the issue of human suffering from the spiritual warfare perspective. In this regard, the book is subject to evaluation to identify its strengths and weak nesses. Strengths of Anderson’s ideas I like the book’s focus on the truth based on faith rather than the application of power in the liberation of individuals from their suffering. It is believed that the truth would free an individual and the author utilizes the teachings of the scripture to influence people to stop entertaining dysfunctional behaviors. Since the attack by demons is viewed as a spiritual problem, battling it through the application of the truth found in the Bible addresses the situation in a logical manner, which is reciprocally balanced.  The author is justified to postulate that the spiritual battles that individuals engage in are struggles of the mind. Anderson suggests that Satan applies tactics that lead individuals to temptation, deception, and the accusation that tend to act as the truth. In this regard, the belief in a religious system exists in the mind and the evil spirit attacks the mind to drive its deceptive ideas. Therefore, an indivi dual is expected to use the same mind as a retaliation tool to combat the evil forces. In this sense, I like the idea that Christians are expected to employ their spiritual beliefs and attitudes in the spiritual battles that would overpower the dysfunctional behaviors induced by satanic forces.  Anderson’s book notes that religious groups including the church have depended on the scientific and psychological understanding of deviant behaviors for a long time.Advertising Looking for critical writing on religion theology? Let's see if we can help you! Get your first paper with 15% OFF Learn More I like Anderson’s approach to the issue of dysfunctional behavior and healing from a perspective that would be considered mythical or superstitious by scientists. Christians also tend to disregard â€Å"the kingdom of darkness† in the development of dysfunctional behavior that enslaves the multitudes (Anderson 2006, 34). Based on the foundations of supernatural circles, Anderson manages to explain how temporal family systems facilitate dysfunctional behavior and its physical manifestation. In addition, I like how Anderson facilitates a demonstration of the need for healing whereby the healing cycle is provided. The author illustrates a seven-step process through which individuals can break from the bondage and attain freedom. Furthermore, a demonstration of the healing process is enhanced by the acceptance of the occurrence of changes in an individual’s life before engaging the mind in the liberation process. The model provided by Anderson advocates the realignm ent of the thinking course from its deceptive attributes to the embracement and integration of biblical knowledge or truth that enhances the need for healing relationships. Weaknesses of Anderson’s Ideas Despite Anderson’s scriptural base to his arguments, criticism from fellow Christians and the scientific community that requires empirical evidence for validation is inevitable. In this light, identifying the weakness of his perspectives on human suffering is essential for the enhancement of the comprehensive understanding of the topic. According to Anderson, personal responsibility is directly subject to personal choices. This assertion implies that individuals may enslave themselves due to the individual choices that they make, and thus they are responsible for their thoughts, choices, and actions. However, the attribution of dysfunction behavior among Christians to â€Å"severe oppression† or â€Å"demonic influences† implies that every individual is r eligious and the issue of bondage is unavoidable. Therefore, I dislike this aspect of the book. Criticisms of the arguments of Anderson may also emerge from the Christian community of which he uses biblical postulations to support his ideas. Therefore, I question the extent to which salvation can be shaken by the efforts of satanic deception and temptations. It is perceived that a born again Christian should portray firm mental and spiritual strength, which is not tempted and deceived easily to engage in negative thoughts, habitual sins, and irrational feelings. Application in individual life and ministerial endeavors Anderson’s ideas on the walk towards freedom from irrational feelings, habitual sin, and negative thoughts can be applied to an individual’s life as a liberation strategy. In this regard, as a Christian, I welcome the arguments put forward by Anderson that demonic spiritual forces restrain us from acknowledging the freedom that is inherited by accepting C hrist through salvation. This assertion implies that I would identify myself in Christian beliefs that would enhance my identification in Christ. Identifying myself as a believer in Christ would entail commitment and belief in the spiritual teachings provided in the Bible. In this regard, my spiritual growth would be enhanced to curtail the demonic strengths that would result in behavioral dysfunctions. Since the author asserts that habitual sins cultivate satanic strongholds in our lives, which in the long-term takes one back to bondage, it would be essential to observe vigilance in my undertakings. In case I go through the healing process, fostering an upright character that upholds morality is essential to curb any possibilities of returning to old habits induced by Satan’s deceptive techniques. Additionally, a repeat of the steps involved in the healing process would be necessary for the attainment of maturity and freedom as a Christian.  Anderson suggests that demonic activities are not responsible for all spiritual battles encountered by Christians. In this regard, challenges faced in my daily endeavors would not be affiliated with demonic forces that have a bearing on the sins that I commit like lying and my strong emotional reactions. Therefore, engaging my mind in rational thoughts would facilitate the enhancement of responsible behavior that fosters morality. In this respect, discerning personal and spiritual factors that undermine my personality would facilitate a better understanding of the battles that I engage in and the response that I should adopt in a bid to triumph. In my evangelical endeavors as a minister, Anderson’s ideas can be used in demon possession teachings. It would be logical to accept that demons exist in the contemporary world and their activities shackle individuals into bondage. Conclusion Anderson provides a good religious approach to the issue of individual dysfunctions by embracing the spiritual battle perspe ctive. His book, â€Å"The bondage breaker: overcoming negative thoughts, irrational feelings, and habitual sins†, provides an in-depth view of the factors that lead to enslavement coupled with how faith can be used in the emancipation process. Evaluating the ideas of Anderson portrays issues like the mental perception of spiritual battles, explanation of human suffering from the religious angle, and the application of a healing process. Criticisms arise in areas of salvation when exerted to demonic energies and the inevitability of behavioral dysfunctions. The application of Anderson’s ideas in real life situations is also practical since the human race is subject to many challenges that may require spiritual intervention. Reference Anderson, Neil. 2006. The Bondage Breaker: Overcoming Negative Thoughts, Irrational Feelings, Habitual Sins. Sisters, OR: Harvest House Publishers.

Odysseus- The Man Skilled in All Ways of Contending (from the Odyssey by Homer)

Odysseus- The Man Skilled in All Ways of Contending (from the Odyssey by Homer) In The Odyssey by Homer, the character Odysseus proves his resourcefulness and intelligence. He uses this cleverness throughout the book in his adventures, proving his peira, or worth, since he is an epic hero. He is known by all, including the gods, for his cleverness.On the island of Kalypso, Odysseus proves that he is faithful to his wife and also clever in how he addresses Kalypso. Kalypso begs him in Book 5 to stay with her, and her temptation nearly makes Odysseus fall for her allure. She promises not only to save him from having to face problems in getting home, but to also give him immortality, which is a very desirable choice for anyone. But Odysseus is not interested. He wants to be back with his wife, but when asked who is more beautiful, he tactfully replies to Kalypso:"My lady goddess, here is no cause for anger.ODYSSEUS karnavires 68My quiet Penelopehow well I knowWould seem a shade before your majesty,Death and old age being unknown to you,While she must die"(p. 87)Say ing that Kalypso is more beautiful than Penelope is smart. Kalypso's plea causes tension in Odysseus' journey. He wants to see his wife and home again, but he also presumably wants all the tempting things Kalypso has to offer. He makes a wise decision in making her swear by the Styx that she will not try to harm him if he chooses to go home. This is wise, as she cannot break this promise, and proves his cunning.Odysseus proves his resourcefulness a couple times on the island of the Cyclops known as Polyphemos. Odysseus tells the Cyclops that his name is "Nobody," so after poking the monster's eye out, the Cyclops cannot tell the others of his race who disabled him. He...

Free Essays on MacBeth Act IV

Act IV, scene i In a dark cavern, a bubbling cauldron hisses and spits, and the three witches suddenly appear onstage. They circle the cauldron, chanting spells and adding bizarre ingredients to their stew- "eye of newt and toe of frog, / Wool of bat and tongue of dog" (IV.i.14–15). Hecate materializes and compliments the witches on their work. One of the witches then chants: "By the pricking of my thumbs, / Something wicked this way comes" (IV.i.61–62). In fulfillment of the witch's prediction, Macbeth enters. He asks the witches to reveal the truth of their prophecies to him. To answer his questions, they summon horrible apparitions, each of which offers a prediction to allay Macbeth's fears. First, a floating head warns him to beware Macduff; Macbeth says that he has already guessed as much. Then a bloody child appears and tells him that "none of woman born shall harm Macbeth" (IV.i.96–97). Next, a crowned child holding a tree tells him that he is safe until Birnam Wood move s to Dunsinane Hill. Finally, a procession of eight crowned kings walks by, the last carrying a mirror. Banquo's ghost walks at the end of the line. Macbeth demands to know the meaning of this final vision, but the witches perform a mad dance and then vanish. Lennox enters and tells Macbeth that Macduff has fled to England. Macbeth resolves to send murderers to capture Macduff's castle and to kill Macduff's wife and children. Act IV, scene ii At Macduff's castle, Lady Macduff accosts Ross, demanding to know why her husband has fled. She feels betrayed. Ross insists that she trust her husband's judgment and then regretfully departs. Once he is gone, Lady Macduff tells her son that his father is dead, but the little boy perceptively argues that he is not. Suddenly, a messenger hurries in, warning Lady Macduff that she is in danger and urging her to flee. Lady Macduff protests, arguing that she has done no wrong. A group of murderers then enters. When o... Free Essays on MacBeth Act IV Free Essays on MacBeth Act IV Act IV, scene i In a dark cavern, a bubbling cauldron hisses and spits, and the three witches suddenly appear onstage. They circle the cauldron, chanting spells and adding bizarre ingredients to their stew- "eye of newt and toe of frog, / Wool of bat and tongue of dog" (IV.i.14–15). Hecate materializes and compliments the witches on their work. One of the witches then chants: "By the pricking of my thumbs, / Something wicked this way comes" (IV.i.61–62). In fulfillment of the witch's prediction, Macbeth enters. He asks the witches to reveal the truth of their prophecies to him. To answer his questions, they summon horrible apparitions, each of which offers a prediction to allay Macbeth's fears. First, a floating head warns him to beware Macduff; Macbeth says that he has already guessed as much. Then a bloody child appears and tells him that "none of woman born shall harm Macbeth" (IV.i.96–97). Next, a crowned child holding a tree tells him that he is safe until Birnam Wood move s to Dunsinane Hill. Finally, a procession of eight crowned kings walks by, the last carrying a mirror. Banquo's ghost walks at the end of the line. Macbeth demands to know the meaning of this final vision, but the witches perform a mad dance and then vanish. Lennox enters and tells Macbeth that Macduff has fled to England. Macbeth resolves to send murderers to capture Macduff's castle and to kill Macduff's wife and children. Act IV, scene ii At Macduff's castle, Lady Macduff accosts Ross, demanding to know why her husband has fled. She feels betrayed. Ross insists that she trust her husband's judgment and then regretfully departs. Once he is gone, Lady Macduff tells her son that his father is dead, but the little boy perceptively argues that he is not. Suddenly, a messenger hurries in, warning Lady Macduff that she is in danger and urging her to flee. Lady Macduff protests, arguing that she has done no wrong. A group of murderers then enters. When o...

Discovering the Culture of Inquiry Essay Example | Topics and Well Written Essays - 250 words

Discovering the Culture of Inquiry - Essay Example The value of research studies, whereby new medicines along with control groups, are tested for various health symptoms at different dosage levels, and then added to a standardized repository, cannot be overstated enough. Nurses use theory-based practices in first interviewing and working with patients to record health issues which are compromising those patients, including their environments. From there, a nurse can utilize the same theory or add on another theory to complement and enhance a treatment program, based on research conducted through the hospital or clinic’s repository of clinical information (Allred, Smith & Flowers, 2004). The Cochrane Center in Oxford, England, along with the Cochrane Collaboration, is one of the largest repository of clinical information which can be accessed by medical personnel nearly everywhere in the world. This, along with nursing theory practices, and researching the latest proven methods of medical practice, provide the best foundation for both nurses and their patients in getting the help they need (Melnyk & Fineout-Overholt, 2011). Allred, S.K., Smith, K.F. & Flowers, L. (2004). Electronic Implementation of National Nursing Standards-NANDA, NOC and NIC as an Effective Teaching Tool. Journal of Healthcare Information Management, 18(4). Available at

Finance Week 3 Essay Example | Topics and Well Written Essays - 250 words

Finance Week 3 - Essay Example Investors that are risk averse will invest a lot of their resources in common stocks due to the fact that common stocks have a higher potential of equity appreciation. Investors that do not apply the diversification principle can lose a lot of money if the particular sector of the market they invest in goes down. It is never a wise idea for investors to place all their eggs in the same basket. Diversification ensures that investors spread their securities around different sectors of the market. Managers can utilize the diversification principle to increase their cash flow position. A way to use investing to increase cash flows is by purchasing blue chip stocks that have a history of paying dividends every year. Another way for managers to improve the cash position of a company is by investing in bonds that pay coupon payments and in preferred stocks that pay yearly dividends. Firms may also improve their cash flow position by selling commercial paper in the marketplace. The most common form of commercial paper is corporate bonds. â€Å"The right diversification strategy can give you the best odds of weathering whatever economic storms may hit the market in the future† (Caplinger, 2012). Caplinger, D. (2012). This Diversification Strategy Will Make Your Portfolio Safer. Retrieved November 9, 2012 from

J&G Garden Center Case Study Example | Topics and Well Written Essays - 750 words

J&G Garden Center - Case Study Example Additionally, it is reported they are competent, efficient, and effective in the execution of their duties (J&G Garden Center Case 171). Therefore, it would be imperative for Mr. Weed to take the liability of what he has actually tried to avoid. In regards to the environmental pollution from the chemical and other biohazards related to his product, he built a secure house with a locked barbed wire face as well as an alarm system that would alert them in case of any danger related to his business. Moreover, he constructed Material Runoff Proof Segment and took a special liability insurance policy to ensure the business is covered at any time of any dangerous eventuality. All these initiatives were meant to protect the worker, customer, the community, and the environments that are exposed to the business’ products. In other words, the business if fully compliant with regulatory, customers and environmental safety thereby it neither have loopholes nor undermined operational requi rements. However, it is proper that Mr. Weed is considered an ethical conflict for the closure of the divider. The business has a high profit margin and the only this Weed can do is to provide additional education on the after use safety measures through sensitizing the community and the persons he considers of concern (Duska and Rongione 92). In addition, he may hire or train more workers on the use of his products so that they may conduct regular monitoring and inspection places or fields that these chemicals are used to reduce the negative effects of these chemical on the users and their immediate surroundings (J&G Garden Center Case 171). In this manner, Weed shall have adequately solved the ethical conflicts surrounding his business. Part Two: Closing the New Division It is proper that the business is shut down the business since it is apparent that the business does not meet the minimum requirement set by the business. The minimum requirements herein are the ineffectiveness of the measures already intended to be met by the business. It should be noted that the company should maintain its name at all time during its operational life since the name company of the company is what makes such a company viable (J&G Garden Center Case 172). In fact, serious ethical issues affecting new division including lawsuits may affect the operation of Weed’s other business. Therefore, it will only be proper to shut down the business in favor of the operation of other businesses. However, instead of closing the business, Weed may improve the business profile with the focus on solving the ethical and legal problems currently facing the business. Numerous initiatives and measure may be taken towards improving the current business situation. As suggested by his wife and partners in his businesses, Weed should embark on a serious marketing (Schwartz 94). Marketing is a sure way of building confidence of the customer and the public on the business. Additionally, in his m arketing scheme, Weed should include well-articulated measures towards preventing the already identified problems associated with the application of his products. The business should also develop intensive monitoring trends to ensure that their customers, other than promising to adhere strictly to the down listed precaution requirement, they are actually following them to the letter (J&G Garden Center Case 172). Efficient, effective, and adequate monitoring will enable the company to detect any problem that is associated with

Debt Financing and Bankruptcy Essay Example | Topics and Well Written Essays - 750 words

Debt Financing and Bankruptcy - Essay Example This chapter is distinguished from other filed chapter as it is the only chapter that allows companies to refinance and reorganize to prevent final liquidation. A company may refinance itself by getting loans thorough debt financing mode. This help to get the required money to finance the daily operations of the company and also pay other costs like salaries, pension and medical cost. Restructuring involves changing the mechanisms through which company operations are conducted. This involves reducing the number of employees and performance contracting to ensure efficiency in production and also reduce operation cost (Usatoday, 2012) The debt trouble that the company is experiencing is caused by the following factors. First, the annual sales of the company is about $2.5 billion ant this is not enough to cater for the rising medical benefit and pension costs of its 19000 unionized employees who operates in over thirty states are .In addition the company has had trouble attracting customers who have migrated to more healthier whole grain foods that do not put them at risk of suffering from obesity and other cardiovascular diseases. Furthermore the cost of ingredients-sugar and flour has increased significantly decreasing the total revenue accrued by the company. Hostess main competitors include Bimbo Bakeries, Kraft Inc and Sara Lee. The company has a debt of over $860 million with Industry International Pension and Fund Bakery & Confectionary Union as the main unsecured creditors (Guardian, 2012). The debt financing option that were available included getting loans from bank, taking goods (ingredients) on credit and then and then repaying the debt later after sale, creating more shares that are later sold to cater for the financial needs selling bonds and partnering with other well established companies that can inject in new ideas

Malware and how it affects the system and the Victim also how it get Essay

Malware and how it affects the system and the Victim also how it get into a Victim machine - Essay Example software as rogue security software, spyware, worms, adware, dialers, Trojan, computer virus and key loggers among others which normally appear in the form of active contents, codes as well as scripts (Klaus, 2013). However, it is worth noting that malwares are different from defective software in the regard that defective software may be legitimate software which would have had defective bugs before release and which were not corrected. Malwares get access into a personal computer system through a variety of ways, which include through an exchange of contaminated files, accessing contaminated online materials or even through legitimate download of corrupted software from the online stores. Attackers or the developers of these malware are known to attach the malware onto legitimate software online and as such, unsuspecting victims purchase the software only to have the harmful software get into their computer system. However, such malware as spyware spread through individual installation by visiting security holes or even though installation of corrupted programs from harmful websites. Ill intentions by hackers or malware developers lead to the design and programming of the harmful software in order to access sensitive information from organizations or even private system. These software programs are used to steal sensitive financial, personal or even business information, which is targeted by the hackers. Besides the use of malware to gather or ‘steal’ important information from corporate systems, the malicious software is used to disrupt the operations of computer systems and as a result bring about much suffering to organizations or corporate. The software has been used in many instances to target government operations, bank systems as well as corporate and private security systems for profit gains by the hackers (Reavis, 2012). The working of the different malicious software differs from one type to another. Worms and virus are known to target executable

Debt Financing and Bankruptcy Essay Example | Topics and Well Written Essays - 750 words

Debt Financing and Bankruptcy - Essay Example This chapter is distinguished from other filed chapter as it is the only chapter that allows companies to refinance and reorganize to prevent final liquidation. A company may refinance itself by getting loans thorough debt financing mode. This help to get the required money to finance the daily operations of the company and also pay other costs like salaries, pension and medical cost. Restructuring involves changing the mechanisms through which company operations are conducted. This involves reducing the number of employees and performance contracting to ensure efficiency in production and also reduce operation cost (Usatoday, 2012) The debt trouble that the company is experiencing is caused by the following factors. First, the annual sales of the company is about $2.5 billion ant this is not enough to cater for the rising medical benefit and pension costs of its 19000 unionized employees who operates in over thirty states are .In addition the company has had trouble attracting customers who have migrated to more healthier whole grain foods that do not put them at risk of suffering from obesity and other cardiovascular diseases. Furthermore the cost of ingredients-sugar and flour has increased significantly decreasing the total revenue accrued by the company. Hostess main competitors include Bimbo Bakeries, Kraft Inc and Sara Lee. The company has a debt of over $860 million with Industry International Pension and Fund Bakery & Confectionary Union as the main unsecured creditors (Guardian, 2012). The debt financing option that were available included getting loans from bank, taking goods (ingredients) on credit and then and then repaying the debt later after sale, creating more shares that are later sold to cater for the financial needs selling bonds and partnering with other well established companies that can inject in new ideas

For some people, monkeys, dogs, donkeys, termites, and grasshopper are Essay

For some people, monkeys, dogs, donkeys, termites, and grasshopper are highly prize foods. For others, the idea of eating some o - Essay Example † Human anatomy and physiology The incisors of humans are flat and spade-like, essential for peeling, snipping and biting soft materials. The canines are neither saw-like nor conical but are flattened, blunt and small and work like incisors. The premolars and molars are squarish, flattened and nodular, essential for compressing, grinding and pulping non-coarse foods. Human teeth are rather large and usually abut against one another. According to evolutionary theory, an omnivore might be anticipated to be a carnivore, which shows some gastrointestinal tract alterations to a herbivorous diet. The human gastrointestinal tract characterizes the anatomical modifications consistent with a herbivorous diet. Humans have brawny lips and a petite opening into the oral cavity (Milton, 1999:15). How humans evolved to consume meat The pattern of meat consumption in human evolution can be classified into four time periods namely opportunistic hunting and scavenging, full-scale hunting, the s hift to domesticated food sources and ultimately the reliance on animal tissues with fatty acid composition now associated with harmful health. The patterns of meat acquisition later took various forms as reflected in regional specializations, and exploitation of marine resources derived from fishing using new and innovative strategies of acquiring food. Domestic animal sources in regions like the Middle East used sheep, cattle, goats and later pigs and chicken were linked to food security, clothing and shelter as used in the provision for meat, milk and skin for clothing and housing materials. The warming trend, over-hunting and subsequent extinction of animals led to the appearance of new plants and animals that could now be domesticated (Milton, 1999:37). The ability to cook foods from tough to soft consistencies has led to the reduction in the bony areas of the facial skeletal that supports the teeth in the jaws, reduction in tooth size, less room for dentition resulting in the rise of occlusal abnormalities in humans and tooth decay. Bone size and structure was stronger in hunting and gathering regimes and weaker in agricultural settings (Milton, 1999:14). The trend of conspicuous and excessive red meat consumption in the human diet has seen a decline in health, increased occlusal abnormalities, increased iron deficiency anemia, infections and bone loss. What makes an animal an acceptable food item? According to observations and readings from various studies, culture and religious beliefs makes an animal an acceptable food item. There are certain animals, which can be readily consumed in some nations and not viewed as wrong, but this can be the opposite in other countries (Douglas, 1997: 37). For instance, the Hindu cannot consume cow meat as they view this animal as sacred. Other nations, for instance Americans, consume cow meat and view it as a delicacy. Among the Hebrews classification of edible and inedible foods is discerned in religion towards holin ess and integrity (Harris, 1997:66). Eastern religious influences such as Buddhism and Hinduism through their belief systems teach followers to minimize harm towards animals practiced by non-violence and compassion on all living creatures. In other groups, food taboos exist regarding the consumption of animal meat. Examples include monkey consumption in the Guaja community as taboo for pregnant women and their husbands, to adolescent girls for twelve

Gangs in Rio Essay Example for Free

Gangs in Rio Essay Gangs have always been a challenge to a states government. In Rio de Janeiro slums have always been dangerous because of the amount of the amount of gang members going around with guns, knives and many other weapons. There are many ways to understand these gangs; many believe that they do it for respect while others believe they do it because they have no other choice. In the movie â€Å"City of God† we can see the lives of many gang members that live in the slums. With many different sociologist perspectives we can comprehend various aspects of these gangs. Symbolic interactionist, Conflict theorist and Feminism theory are all different sociological perspective that will be discussed in this essay. First of all, Rio de Janeiro is known for their dangerous slums. Many would automatically think violence when It comes around that neighbourhood. To begin with, Symbolic interactionist focus on the subjective aspect of the social life, they base their perspective on the image they have of humans rather than the image they have on the society. One of the key aspects of the perspective is; we are influenced by culture and social processes, such as social norms. In the movie â€Å"City of God†, we can see that many people join the gangs because it has almost become part of their culture to be gang members. Symbolic interactionist would be interested in the way the gang grows very quickly. We can see in â€Å"City of god† or even in â€Å"News from personal war† that kids join the slums army at a really young age because of the amount of people that are part of it. Taking example on the Runts in the â€Å"City of God† movie, we can see that these young kids are mostly influenced by the older dealers fame and money. I believe that symbolic interactionist would be interested in how the kids from the movie â€Å"News from the personal war† don’t see anything wrong in their violent acts. They believe that they are doing nothing but positive for their society. By bringing back medicine, food and clothes to the population they picture themselves as Hero’s and has great citizens. The society encourages them to continue with these violent and dangerous acts by praising them because of the things they give back to their people. This is a major fact of the gangs growth in these low class countries. In this perspective there is also an important aspect that says; we act towards other based on the meaning that those other people have for us. For example, if we look at Knockout Ned’s murderer, he was just an innocent boy that was trying to get revenge for his father’s killer. Not knowing the consequences that this would have on his life he joined a gang to give honour to his father. Symbolic interactionists believe that our social structure is based by our social interactions with others. In other words, symbolic interactions would believe that hood boys had reason and justifications to why they were part of a gang. The crew tremendous growth is because of the social structure that they have in Rio de Janeiro. Secondly, conflict theories would portray the situation in Rio de Janeiro completely differently. Conflict theorists believe that societies are composed of groups in power, status and influence. For example, in the film Lil Ze and his crew would be considered as the group in power, status and has influence on kid. In the movie, Lil Ze makes a rule of no hold ups or anything in the slums by runts. This proves that Lil Ze has complete control on the community because he sets any rule that he desires, we can basically call him a president. Conflict theorist would also argue that the powerless are more prone to break the rules. We can take example on the Runts once again; they robe stores knowing that it is against the societies rules. In the film, Lil Ze seems to blame victims when he would commit violent crimes. He was convinced that people that break rules should pay for their actions. He found happiness in killing people for no absolute reason. Most times, the neighbourhoods and societies are the subjects of study, the battle between rich and poor. Poor people seem to not be able to escape the streets of the city of God, the opportunities to get out of the slums are really slums. In the beginning of the movie you see homeless people walking on the streets and the narrator mentions that these people have nowhere to but to stay on the streets. It is really hard for the poor to avoid doing crimes because of their low level of education, money and opportunity. At last, Feminist theory is known to discuss the importance of gender inequality. For the movie, I believe that the women are experience all the stereotypes we can imagine. In the movie we can see that women are completely used as object and are not respected. In the scene where Lil Ze rapes Knockout Ned’s girlfriend we can see that it is just because to show how he can get whatever he wants, whenever he wants from any women. He uses the girl as an object as if she wasn’t worth anything. This could be considered as gendercide in other words, he raped her as a war crime. The feminist theory also argues the fact that women are completely ignored in societies. Looking at the â€Å"City of God† film, the scene where the two women are talking about their sex experience and one of them mentions how her husband would beat her for asking such things. This shows how women do not have their word to say about anything in the movies. That same women get beat and barried alive because of her unfaithfulness towards her husband but yet, police are more preoccupied into catching Shaggy. This shows us how important the women’s death is to people. Women are mistreated and ignored from society because they are considered to be housewives by stereotype. To conclude, there are different ways of looking at the movie â€Å"City of God†, Symbolic interactionist can look at it has the subjective aspect of the social life, the look at people’s image instead of people image on society. However, Conflict theorist are interested in the people who basically run the streets, the people in power with status and influence. Finally, Feminism theorist are mostly interested in the gender inequality that we can see in societies. All these theories help us have different opinions of people who live in slums like the movie â€Å"City of God† and may bring to and understanding the people who actually live in them

Leadership Styles Of Harley Davidson Management Essay

Leadership Styles Of Harley Davidson Management Essay Introduction: This case study is about Harley-Davidson a prestigious American Motorcycle manufacturer situated at Milwaukee U.S.A, with a full year 2009 revenue of $4.29 billion and income of $70.6 million from continuing operations. (Press release www.harley-davidson.com) This analysis has its focus on a brief history of H-D, which includes the manufacturing issues and the problems it had, the various strategic changes made by H-D in the manufacturing process to achieve its goals. The implementation of JIT and its effect on the plant and the product, the Supplier development, Supplier relationship and the efforts towards Supply Chain Management. It also includes the Risks, costs and benefits of Supplier development, the Key learning which we take away from the case study and lastly it concludes with the future trends in SCM. A brief History: In 1970s heavy weight motorcycle market was in the hands of H-D. The Corporate parent AMF wanted to take advantage of this market dominance by production of more bikes at a faster rate.In the process they lost the focus on Quality and Supply Chain Management. In 1974 the quality of the product was at its bottom. Harley-Davidson needed a desperate change to overcome these issues, in 1981, a group of local management was put together to rebuilt the company. Key theories, Strategic changes and Implementation at H-D: 1. Inventory, Inventory Turns and Cash Flow: A downfall in sales due to the quality problems increased their inventory level to $24 million. H-D worked on Inventory Management. Inventory Turns The number of times a company rolls over its inventory per year is defined as its Inventory Turns. Calculation: Most commonly used method is to divide the annual sales of the company per year by the average inventory level maintained per year. For example, if the average sales of a company is $2,000,000 per year and the average inventory maintained for a year is say $50,000 than the inventory turns for that particular company is 8 ( ref. Supply chain metrics.com) The increase in the Inventory Turns of a company, generates more free cash flow. Free cash flow is an asset, as it can be used for other advantages rather than blocking the money in Inventory Stock. (Ref.Marie Leone CFO.com, Supply chain metrics.com) At H-D an inventory turns of 4.5/year was increased up to a level of 28.Consequently the inventory came down to $4 million. 2. Shift of manufacturing strategy from Push to Pull and JIT: PUSH and PULL PUSH is the traditional style of manufacturing in which a product is manufactured irrespective of its demand. The process then Pushs to the next step. It may be the selling of the product. This leads to unnecessary inventory, over stock because the production goes on without the actual demand of the product. PULL is the lean style of manufacturing in which a product is manufactured on demand. If there is no demand, there would be no production. This saves money as unnecessary production is avoided. Lesser inventory is maintained because what is produced is consumed. The customer will PULL the product from the manufacturing facility.Manufacturing facility is in tune with the market dynamics. (Ref.leanmanufacturingconcepts.com) Lean Thinking is an articulation of the core principles behind the Toyota Production System (TPS), acknowledged to be the most efficient in the world today. (Manufacturing Operations and Supply Chain Management the LEAN approach David Taylor and David Brunt) Just in Time Manufacturing (JIT) Just in Time Manufacturing Just in Time (JIT) manufacturing is a Japanese management philosophy applied in manufacturing which involves having the right items of the right quality and quantity in the right place and at the right time. The proper use of JIT manufacturing has resulted in increases in quality, productivity and efficiency, improved communication and decreases in costs and wastes. Goals of JIT: Finding customer needs and responding to it: Production is tuned according to the customer demands. Cost effective quality standards: quality should and must be the topmost priority, but it should be cost effective. Work for a minimum wastes: Elimination of wastes which are of no use for the production. Trust development in relationships with the suppliers: Supplier relationship is of utmost importance specially in the case of single sourcing, it is a strength of company to have strong supplier relations, both in terms of materials, inventory and deliveries on time. Plant designing for utmost efficiency and easy manufacturing: Plant design must ease the production process with least labour involvement. It must ensure to use the full plant potential. Striving hard for improvements on a continual basis: This makes organization competitive and committed to the needs of the costumers, as customer demands are always volatile. (Ref.Just in Time Manufacturing, T.C.E Cheng and S Podolsky; Curtin University of Technology, Australia; Institute for Manufacturing University of Cambridge) Changes and Quality development at H-D: H-D shifted from PUSH (anticipating demand) to PULL (responding to orders). Set up times were reduced drastically, it made smaller life-size feasible.H-D moved towards Just in Time manufacturing and Supply Chain Management. It invested in group problem solving program, like Quality Circle and made a policy to respond to any of the problem issues within two weeks. Employee involvement at H-D made them even more commited.An Example: To me every transmission and engine bolted is going to my motorcycle, Doug Tearney, Final Inspector Harley-Davidson. Supplier Selection and Development: Supplier Selection: JIT emphasis on single sourcing.Single Sourcing is a sourcing strategy in which the company buying is dependant on a single company for almost all of the particular item or service. Suggestive qualitative aspects used for supplier evaluation: Design, development and process capacity. How capable the management is? Financial know-hows and structure of cost. Environmental Regulation Compliance. Longer-Term Relationship Potential. (Ref. Introduction to Operations and Supply Chain Management, Cecil C. Bozarth and Robert B. Handfield) Supplier development: Supplier development can be defined as any activity that a buyer undertakes to improve suppliers performance and/or capabilities to meet the buyers short-term, long-term supply needs. Or in other words, Supplier development can be loosely defined as the process of working collaboratively with suppliers to improve or expand their capabilities. (Ref. http://www.nist.gov/mep/manufacturers/supplier-development.cfm) A supplier development program must aim for improving the performance of a supplier; and helping them to get what they need to be successful in supply chain. Important functions of supplier development programs: Providing information about products, expected sales growth, etc. Suppliers need to become extensions of their customers. Training in the application of lean and quality tools. If suppliers had more information about the entire supply chain and had a true lean transformation underway, they would become more profitable and provide a better quality and lower-cost product, on-time. (Ref. http://lean-supply-chain.blogspot.com/2006/10/what-is-supplier-development.html) (Ref.Avoid the Pitfalls in Supplier Development Robert B. Handfield, Daniel R Krause, Thomas V .Scannell and Robert M. Monczka) Supplier Management at H-D: Supplier Optimization: H-D cuts its supplier base from 320 to 120 and established performance requirements. Suppliers must have MAN, JIT, Statistical Operator Control and Employee Involvement. Supplier problems and Solutions: H-D required JIT at Supplier end, but suppliers had problems with it as they deal with different types of customers. They ended up with Just in Time warehouses, which leads to quality problems. For JIT at supplier end, proper advance scheduling was given by H-D.Piston supplier KSG adapted to H-D requirements. It changed from producing to two months inventory, to producing as per the requirement. KSG did the entire process from bowing to packaging in just a space of 35ft with two-three operators, with unbelievable throughput time. Previously the same work was done with fifteen operators scattered all over the plant. Ultra Tool the metal stamping company, a supplier of H-D, had great success with MAN program. At Ultra tool for a number of operations on a part it required part movement. A cell was designed at Ultra Tool that reduces the part movement to just 10 feets.The parts were taken to a particular area in this cell and it included tooling as well. It made the process fairly quick. Commonality of purpose: Harley improved the processes at Ultra Tool; in return it had no price rise from this supplier for 3-4 years.(an example of mutual benefit to Customer and Supplier). Risks, cost and benefits of Supplier Development: Supplier development involves the cost which is incurred by the Customer company and no immideate returns are visible for it.This depend upon the need and the value of the product that the funds are allocated for the trainings and development of suppliers

Internet Addiction :: Essays Papers

Internet Addiction ABSTRACT The Internet is the largest source of information in the world today. With its web sites and chat rooms, it is a means of communicating with people in places all over the face of the earth. Since its conception in 1973, the Internet has grown at a whirlwind rate. 51 million adults, were on-line as of the second quarter 1997 in the United States alone. Some say that the Internet is so enjoyable that it is almost addictive. The problem is that researchers are beginning to agree with them. Studies are revealing that there may be an actual form of addiction involved with over-use of the Internet. Identifying which category of addiction the Internet falls into is the problem. There are no real answers yet because research in this area is at the beginning stages. While lost in this so called ‘Cyber Community’ for long periods of time, people are neglecting other important activities like; time with the family, socializing, work and health concerns. One of the most extensive studies on Internet Addiction to date was conducted by Dr. Kimberly S. Young of the University of Pittsburgh at Bradford. In her study, she revealed concrete evidence supporting the Internet Addiction claim. However, help for web addicts is available. There are several web sites available for the treatment of Internet addiction, as well as counseling centers and clinics. Is it Live, or is it Internet? Internet Addiction The Internet is the largest most versatile source of information in the world today. With its web sites and chat rooms, it is a means of communicating with people in places all over the face of the earth. But with all this power at our fingertips, are there any negative impacts of using this interface? Are we as ‘simple humans’ capable of interacting with such a powerful communication source. Recent studies are beginning to uncover evidence that would suggest that maybe some of us are not so capable of dealing with this technology. In fact, as more research is conducted, experts are finding that the Internet may even be addictive! Development of the Internet began about 15 years ago. In 1973 the U.S. Defense Research Projects Agency initiated a program to research the techniques and technologies for inter-linking various types of networks.

Essay --

Language and Masculinity The art of communication was always dominated by the innovations happened in the art of language. The human race has always been communicating among itself and formed various societies, developed relationships, brought new ideas etc. Language was utilized to define the sexuality, the culture, the social aspect and it all happened in terms of gender. The dominance of the masculine gender through the utilization of the language was always known to the mankind. The male population receives power by dictating certain social norms. The masculinity is a part of the male gender and in terms of linguistics it conveys masculinity with great power and force. According to some philosophers the males unjustly and deliberately construct such a society which is male-centered and it caters to the supremacy of the masculinity described above. It will be interesting to find the relation among language, masculinity and gender. If we discuss it any further we will find out tha t throughout the history it was the human race which has brought innovation to the language. Language was used to gain power with the use of male power. As a result the language was also used to dictate social norms. They also became successful in gaining the women’s cooperation by using the power of masculine language. Some of the scholars assume that language is visible and it exists in this form without any doubt. They also further assume that language can be compared with other forms of visual phenomenon. In this regard the linguistic analysis is in fact a kind of perception of visual way. In other way one can see the language and in particular in its treatment of grammar. â€Å"In "Language and Masculinity," Victor Seidler writes, "Oppressed peopl... ...on which you will appear has been asked to discuss Victor Seidler's "Language and Masculinity" and Maxine Hong Kingston's "No Name Woman." You are to present and defend the ideas and observations of one writer against the ideas and observations of the other writer. You may choose to argue that your writer's ideas prove or disprove the ideas of the other writer, but in either case you will be expected to defend your own claim with quotes and examples from your writer's text. In building your case, you should consider how your opponents will respond with specific quotes or examples that might contradict your argument. You should then build a counter-defense into your own conclusions about how gender, language, and power are related in your writer's essay and about how that relationship stands with or against the basic concepts of the other writer's essay.† References

Indian Banking Sector

A bank is an institution that deals in money and its substitutes and provides other financial services. Banks accept deposits and make loans or make an investment to derive a profit from the difference in the interest rates paid and charged, respectively. In India the banks are being segregated in different groups. Each group has their own benefits and limitations in operating in India. Each has their own dedicated target market. Few of them only work in rural sector while others in both rural as well as urban. Many even are only catering in cities.Some are of Indian origin and some are foreign players. India’s economy has been one of the stars of global economics in recent years. It has grown by more than 9% for three years running. The economy of India is as diverse as it is large, with a number of major sectors including manufacturing industries, agriculture, textiles and handicrafts, and services. Agriculture is a major component of the Indian economy, as over 66% of the I ndian population earns its livelihood from this area. Banking sector is considered as a booming sector in Indian economy recently.Banking is a vital system for developing economy for the nation. However, Indian banking system and economy has been facing various challenges and problems which have discussed in other parts of project. INDIAN BANKING SYSTEM Without a sound and effective banking system in India it cannot have a healthy economy. The banking system of India should not only be hassle free but it should be able to meet new challenges posed by the technology and any other external and internal factors. For the past three decades India's banking system has several outstanding achievements to its credit.The most striking is its extensive reach. It is no longer confined to only metropolitans or cosmopolitans in India. In fact, Indian banking system has reached even to the remote corners of the country. This is one of the main reasons of India's growth process. The government's r egular policy for Indian bank since 1969 has paid rich dividends with the nationalization of 14 major private banks of India. Not long ago, an account holder had to wait for hours at the bank counters for getting a draft or for withdrawing his own money.Today, he has a choice. Gone are days when the most efficient bank transferred money from one branch to other in two days. Now it is simple as instant messaging or dial a pizza. Money has become the order of the day. The first bank in India, though conservative, was established in 1786. From 1786 till today, the journey of Indian Banking System can be segregated into three distinct phases. They are as mentioned below: †¢Early phase from 1786 to 1969 of Indian Banks †¢Nationalization of Indian Banks and up to 1991 prior to Indian banking sector Reforms. New phase of Indian Banking System with the advent of Indian Financial ; Banking Sector Reforms after 1991. After 1991, under the chairmanship of M Narasimham, a committee wa s set up by his name which worked for the liberalization of banking practices. The country is flooded with foreign banks and their ATM stations. Efforts are being put to give a satisfactory service to customers. Phone banking and net banking is introduced. The entire system became more convenient and swift. Time is given more importance than money.This resulted that Indian banking is growing at an astonishing rate, with Assets expected to reach US$1 trillion by 2010. â€Å"The banking industry should focus on having a small number of large players that can compete globally and can achieve expected goals rather than having a large number of fragmented players. † KINDS OF BANKS Financial requirements in a modern economy are of a diverse nature, distinctive variety and large magnitude. Hence, different types of banks have been instituted to cater to the varying needs of the community.Banks in the organized sector may, however, be classified in to the following major forms: oComm ercial banks oCo-operative banks oSpecialized banks oCentral bank †¢COMMERCIAL BANKS Commercial banks are joint stock companies dealing in money and credit. In India, however there is a mixed banking system, prior to July 1969, all the commercial banks-73 scheduled and 26 non-scheduled banks, except the state bank of India and its subsidiaries-were under the control of private sector. On July 19, 1969, however, 14 major commercial banks with deposits of over 50 Corers were nationalized.In April 1980, another six commercial banks of high standing were taken over by the government. At present, there are 20 nationalized banks plus the state bank of India and its 7 subsidiaries constituting public sector banking which controls over 90 per cent of the banking business in the country. †¢CO-OPERATIVE BANKS Co-operative banks are a group of financial institutions organized under the provisions of the Co-operative societies Act of the states. The main objective of co-operative bank s is to provide cheap credits to their members.They are based on the principle of self-reliance and mutual co-operation. Co-operative banking system in India has the shape of a pyramid a three tier structure, constituted by: †¢SPECIALIZED BANKS There are specialized forms of banks catering to some special needs with this unique nature of activities. There are thus, oForeign exchange banks, oIndustrial banks, oDevelopment banks, oLand development banks, oExim bank. †¢CENTRAL BANK A central bank is the apex financial institution in the banking and financial system of a country.It is regarded as the highest monetary authority in the country. It acts as the leader of the money market. It supervises, control and regulates the activities of the commercial banks. It is a service oriented financial institution. India’s central bank is the Reserve Bank of India established in 1935. A central bank is usually state owned but it may also be a private organization. For instance, the Reserve Bank of India (RBI), was started as a shareholders’ organization in 1935, however, it was nationalized after independence, in 1949. It is free from parliamentary control.CHALLENGES FACED BY INDIAN BANKING INDUSTRY The banking industry in India is undergoing a major transformation due to changes in economic conditions and continuous deregulation. These multiple changes happening one after other has a ripple effect on a bank trying to graduate from completely regulated sellers market to completed deregulated customers market. oDEREGULATION This continuous deregulation has made the Banking market extremely competitive with greater autonomy, operational flexibility, and decontrolled interest rate and liberalized norms for foreign exchange.The deregulation of the industry coupled with decontrol in interest rates has led to entry of a number of players in the banking industry. At the same time reduced corporate credit off take thanks to sluggish economy has resulted in large number of competitors battling for the same pie. oNEW RULES As a result, the market place has been redefined with new rules of the game. Banks are transforming to universal banking, adding new channels with lucrative pricing and freebees to offer. Natural fall out of this has led to a series of innovative product offerings catering to various customer segments, specifically retail credit. EFFICIENCY This in turn has made it necessary to look for efficiencies in the business. Banks need to access low cost funds and simultaneously improve the efficiency. The banks are facing pricing pressure, squeeze on spread and have to give thrust on retail assets. oDIFFUSED CUSTOMER LOYALTY This will definitely impact Customer preferences, as they are bound to react to the value added offerings. Customers have become demanding and the loyalties are diffused. There are multiple choices; the wallet share is reduced per bank with demand on flexibility and customization.Given the relatively low switching costs; customer retention calls for customized service and hassle free, flawless service delivery. oMISALLIGNED MINDSET These changes are creating challenges, as employees are made to adapt to changing conditions. There is resistance to change from employees and the Seller market mindset is yet to be changed coupled with Fear of uncertainty and Control orientation. Acceptance of technology is slowly creeping in but the utilization is not maximized. oCOMPETENCE GAPPlacing the right skill at the right place will determine success. The competency gap needs to be addressed simultaneously otherwise there will be missed opportunities. The focus of people will be on doing work but not providing solutions, on escalating problems rather than solving them and on disposing customers instead of using the opportunity to cross sell. STRATEGIES OPTIONS WITH BANKS TO COPE WITH THOSE CHALLENGES Leading players in the industry have embarked on a series of strategic and tactical initiatives to sustain leadership.The major initiatives include: oInvesting in state of the art technology as the back bone of to ensure reliable service delivery oLeveraging the branch network and sales structure to mobilize low cost current and savings deposits oMaking aggressive forays in the retail advances segment of home and personal loans oImplementing organization wide initiatives involving people, process and technology to reduce the fixed costs and the cost per transaction oFocusing on fee based income to compensate for squeezed spread, (e. . CMS, trade services) oInnovating Products to capture customer ‘mind share’ to begin with and later the wallet share oImproving the asset quality as per Basel II norms INDIAN ECONOMY The Indian Economy is consistently posting robust growth numbers in all sectors leading to impressive growth in Indian GDP. The Indian economy has been stable and reliable in recent times, while in the last few years it’s experienced a positive up ward growth trend.A consistent 8-9% growth rate has been supported by a number of favorable economic indicators including a huge inflow of foreign funds, growing reserves in the foreign exchange sector, both an IT and real estate boom, and a flourishing capital market. All of these positive changes have resulted in establishing the Indian economy as one of the largest and fastest growing in the world. The process of globalization has been an integral part of the recent economic progress made by India.Globalization has played a major role in export-led growth, leading to the enlargement of the job market in India. As a new Indian middle class has developed around the wealth that the IT and BPO industries have brought to the country, a new consumer base has developed. International companies are also expanding their operations in India to service this massive growth opportunity. The same thing has followed by international banks that are entering in Indian market and pulling their hug e investments in Indian economy. This is helping to accelerate the growth of Indian economy.Economy can be studied from two points of views†¦ ?MICRO ECONOMIC POINT OF VIEW The branch of economics that analyzes the market behavior of individual consumers and firms in an attempt to understand the decision-making process of firms and households. It is concerned with the interaction between individual buyers and sellers and the factors that influence the choices made by buyers and sellers. In particular, microeconomics focuses on patterns of supply and demand and the determination of price and output in individual markets.Microeconomics looks at the smaller picture and focuses more on basic theories of supply and demand and how individual businesses decide how much of something to produce and how much to charge for it. ?MACRO ECONOMIC POINT OF VIEW It is a field of economics that studies the behavior of the aggregate economy. Macroeconomics examines economy-wide phenomena such as c hanges in unemployment, national income, rate of growth, gross domestic product, inflation and price levels. Macroeconomics looks at the big picture (hence â€Å"macro†). It focuses on the national economy as a whole and provides a basic knowledge of how things work in the business world.For example, people who study this branch of economics would be able to interpret the latest Gross Domestic Product figures or explain why a 6% rate of unemployment is not necessarily a bad thing. Thus, for an overall perspective of how the entire economy works, you need to have an understanding of economics at both the micro and macro levels. ECONOMIC SYSTEMS An economic system is loosely defined as country’s plan for its services, goods produced, and the exact way in which its economic plan is carried out. In general, there are three major types of economic systems prevailing around the world they are†¦ Market Economy oPlanned Economy oMixed Economy MARKET ECONOMY In a market ec onomy, national and state governments play a minor role. Instead, consumers and their buying decisions drive the economy. In this type of economic system, the assumptions of the market play a major role in deciding the right path for a country’s economic development. Market economies aim to reduce or eliminate entirely subsidies for a particular industry, the pre-determination of prices for different commodities, and the amount of regulation controlling different industrial sectors.The absence of central planning is one of the major features of this economic system. Market decisions are mainly dominated by supply and demand. The role of the government in a market economy is to simply make sure that the market is stable enough to carry out its economic activities properly. PLANNED ECONOMY A planned economy is also sometimes called a command economy. The most important aspect of this type of economy is that all major decisions related to the production, distribution, commodity and service prices, are all made by the government.The planned economy is government directed, and market forces have very little say in such an economy. This type of economy lacks the kind of flexibility that is present a market economy, and because of this, the planned economy reacts slower to changes in consumer needs and fluctuating patterns of supply and demand. On the other hand, a planned economy aims at using all available resources for developing production instead of allotting the resources for advertising or marketing. MIXED ECONOMY A mixed economy combines elements of both the planned and the market economies in one cohesive system.This means that certain features from both market and planned economic systems are taken to form this type of economy. This system prevails in many countries where neither the government nor the business entities control the economic activities of that country – both sectors play an important role in the economic decision-making of the country. In a mixed economy there is flexibility in some areas and government control in others. Mixed economies include both capitalist and socialist economic policies and often arise in societies that seek to balance a wide range of political and economic views. IMPORTANT BANKING AND ECONOMIC INDICATORS CASH RESERVE RATIO Cash reserve Ratio (CRR) is the amount of funds that the banks have to keep with RBI. If RBI decides to increase the percent of this, the available amount with the banks comes down. RBI is using this method (increase of CRR rate), to drain out the excessive money from the banks. The amount of which shall not be less than three per cent of the total of the Net Demand and Time Liabilities (NDTL) in India, on a fortnightly basis and RBI is empowered to increase the said rate of CRR to such higher rate not exceeding twenty percent of the Net Demand and Time Liabilities (NDTL) under the RBI Act, 1934. STATUTORY LIQUIDITY RATIO In terms of Section 24 (2-A) of the B. R. Act, 1949 all Scheduled Commercial Banks, in addition to the average daily balance which they are required to maintain in the form of†¦. oIn cash, Or oIn gold valued at a price not exceeding the current market price, Or oIn unencumbered approved securities valued at a price as specified by the RBI from time to time. ?REPO RATE Repo rate, also known as the official bank rate, is the discounted rate at which a central bank repurchases government securities.The central bank makes this transaction with commercial banks to reduce some of the short-term liquidity in the system. The repo rate is dependent on the level of money supply that the bank chooses to fix in the monetary scheme of things. Repo rate is short for repurchase rate. The entity borrowing the security is often referred to as the buyer, while the lender of the securities is referred to as the seller. The central bank has the power to lower the repo rates while expanding the money supply in the country. This enables th e banks to exchange their government security holdings for cash.In contrast, when the central bank decides to reduce the money supply, it implements a rise in the repo rates. At times, the central bank of the nation makes a decision regarding the money supply level and the repo rate is determined by the market. The securities that are being evaluated and sold are transacted at the current market price plus any interest that has accrued. When the sale is concluded, the securities are subsequently resold at a predetermined price. This price is comprised of the original market price and interest, and the pre-agreed interest rate, which is the repo rate. ?BANK RATEBank rate is referred to the rate of interest charged by premier banks on the loans and advances. Bank rate varies based on some defined conditions as laid down the governing authority of the banks. Bank rates are levied to control the money supply to and from the bank. From the consumer's point of view, bank rate ordinarily d enotes to the current rate of interest acquired from savings certificate of Deposit. It is most frequently used by the consumers who are concerned in mortgage Some commonest types of bank interest rates are as follows: oBank rate on CD, i. e. , on certificate of deposit Bank rate on the credit of a credit card or other kind of loan oBank rate on real estate loan ?INTERBANK RATE The rate of interest charged on short-term loans made between banks. Banks borrow and lend money in the interbank market in order to manage liquidity and meet the requirements placed on them. The interest rate charged depends on the availability of money in the market, on prevailing rates and on the specific terms of the contract, such as term length. Banks are required to hold an adequate amount of liquid assets, such as cash, to manage any potential withdrawals from clients.If a bank can't meet these liquidity requirements, it will need to borrow money in the interbank market to cover the shortfall. Some ba nks, on the other hand, have excess liquid assets above and beyond the liquidity requirements. These banks will lend money in the interbank market, receiving interest on the assets. There is a wide range of published interbank rates, including the LIBOR & MIBOR, which is set daily based on the average rates on loans made within the London interbank market & Mumbai Interbank Market. ?GROSS DOMESTIC PRODUCTThe monetary value of all the finished goods and services produced within a country's borders in a specific time period, though GDP is usually calculated on an annual basis. It includes all of private and public consumption, government outlays, investments and exports less imports that occur within a defined territory. GDP = C + G + I + NX Where: ?†C† is equal to all private consumption, or consumer spending, in a nation's economy. ?†G† is the sum of government spending. ?†I† is the sum of all the country's businesses spending on capital. ?† NX† is the nation's total net exports, calculated as total exports minus total imports. NX = Exports – Imports) GDP is commonly used as an indicator of the economic health of a country, as well as to gauge a country's standard of living. ?INFLATION Inflation can be defined as a rise in the general price level and therefore a fall in the value of money. Inflation occurs when the amount of buying power is higher than the output of goods and services. Inflation also occurs when the amount of money exceeds the amount of goods and services available. As to whether the fall in the value of money will affect the functions of money depends on the degree of the fall.Basically, refers to an increase in the supply of currency or credit relative to the availability of goods and services, resulting in higher prices. Therefore, inflation can be measured in terms of percentages. The percentage increase in the price index, as a rate per cent per unit of time, which is usually in years. The two basic price indexes are used when measuring inflation, the producer price index (PPI) and the consumer price index (CPI) which is also known as the cost of living index number. ?DEFLATION It is a condition of falling prices accompanied by a decreasing level of employment, output and income.Deflation is just the opposite of inflation. Deflation occurs when the total expenditure of the community is not equal to the existing prices. Consequently, the supply of money decreases and as a result prices fall. Deflation can also be brought about by direct contractions in spending, either in the form of a reduction in government spending, personal spending or investment spending. Deflation has often had the side effect of increasing unemployment in an economy, since the process often leads to a lower level of demand in the economy. ?DISINFLATIONWhen prices are falling due to anti-inflationary measures adopted by the authorities, with no corresponding decline in the existing level of employment, output and income, the result of this is disinflation. When acute inflation burdens an economy, disinflation is implemented as a cure. Disinflation is said to take place when deliberate attempts are made to curtail expenditure of all sorts to lower prices and money incomes for the benefit of the community. ?REFLATION Reflation is a situation of rising prices, which is deliberately undertaken to relieve a depression.Reflation is a means of motivating the economy to produce. This is achieved by increasing the supply of money or in some instances reducing taxes, which is the opposite of disinflation. Governments can use economic policies such as reducing taxes, changing the supply of money or adjusting the interest rates; which in turn motivates the country to increase their output. The situation is described as semi-inflation or reflation. ?STAGFLATION Stagflation is a stagnant economy that is combined with inflation. Basically, when prices are increasing the economy is de ceasing.Some economists believe that there are two main reasons for stagflation. Firstly, stagflation can occur when an economy is slowed by an unfavourable supply, such as an increase in the price of oil in an oil importing country, which tends to raise prices at the same time that it slows the economy by making production less profitable. In the 1970's inflation and recession occurred in different economies at the same time. Basically, what happened was that there was plenty of liquidity in the system and people were spending money as quickly as they got it because prices were going up quickly.This gave rise to the second reason for stagflation. ?FOREIGN INSTITUTIONAL INVESTMENTS Foreign Institutional Investors (FIIs), Non-Resident Indians (NRIs), and Persons of Indian Origin (PIOs) are allowed to invest in the primary and secondary capital markets in India through the portfolio investment scheme (PIS). Under this scheme, FIIs/NRIs can acquire shares/debentures of Indian companies through the stock exchanges in India. The ceiling for overall investment for FIIs is 24 per cent of the paid up capital of the Indian company and 10 per cent for NRIs/PIOs.The limit is 20 per cent of the paid up capital in the case of public sector banks, including the State Bank of India. ?FOREIGN EXCHANGE RESERVES Foreign exchange reserves (also called Forex reserves) in a strict sense are only the foreign currency deposits held by central banks and monetary authorities. However, the term in popular usage commonly includes foreign exchange and gold, SDRs and IMF reserve positions. This broader figure is more readily available, but it is more accurately termed official reserves or international reserves.These are assets of the central bank held in different reserve currencies, such as the dollar, euro and yen, and used to back its liabilities, e. g. the local currency issued, and the various bank reserves deposited with the central bank, by the government or financial institutions . Large reserves of foreign currency allow a government to manipulate exchange rates – usually to stabilize the foreign exchange rates to provide a more favorable economic environment. ROLE OF BANKS IN DEVELOPING OF ECONOMY A safe and sound financial sector is a prerequisite for sustained growth of any economy.Globalization, deregulation and advances in information technology in recent years have brought about significant changes in the operating environment for banks and other financial institutions. These institutions are faced with increased competitive pressures and changing customer demands. These, in turn, have engendered a rapid increase in product innovations and changes in business strategies. While these developments have enabled improvement in the efficiency of financial institutions, they have also posed some serious risks.Banks play a very useful and dynamic role in the economic life of every modern state. A study of the economic history of western country shows that without the evolution of commercial banks in the 18th and 19th centuries, the industrial revolution would not have taken place in Europe. The economic importance of commercial banks to developing countries may be viewed thus: oPromoting capital formation oEncouraging innovation oMonetsation oInfluence economic activity oFacilitator of monetary policy Above all view we can see in briefly, which are given below:PROMOTING CAPITAL FORMATION A developing economy needs a high rate of capital formation to accelerate the tempo of economic development, but the rate of capital formation depends upon the rate of saving. Unfortunately, in underdeveloped countries, saving is very low. Banks afford facilities for saving and, thus encourage the habits of thrift and industry in the community. They mobilize the ideal and dormant capital of the country and make it available for productive purposes. ENCOURAGING INNOVATION Innovation is another factor responsible for economic development.The entre preneur in innovation is largely dependent on the manner in which bank credit is allocated and utilized in the process of economic growth. Bank credit enables entrepreneurs to innovate and invest, and thus uplift economic activity and progress. MONETSATION Banks are the manufactures of money and they allow many to play its role freely in the economy. Banks monetize debts and also assist the backward subsistence sector of the rural economy by extending their branches in to the rural areas. They must be replaced by the modern commercial bank’s branches. INFLUENCE ECONOMIC ACTIVITYBanks are in a position to influence economic activity in a country by their influence on the rate interest. They can influence the rate of interest in the money market through its supply of funds. Banks may follow a cheap money policy with low interest rates which will tend to stimulate economic activity. FACILITATOR OF MONETARY POLICY Thus monetary policy of a country should be conductive to economic development. But a well-developed banking system is on essential pre-condition to the effective implementation of monetary policy. Under-developed countries cannot afford to ignore this fact.A fine, an efficient and comprehensive banking system is a crucial factor of the developmental process of economy. RESERVE BANK OF INDIA AS A REGULATORY INSTITUTION IN INDIAN ECONOMY The RBI was established under the Reserve Bank of India Act, 1934 on April 1, 1935 as a private shareholders' bank but since its nationalization in 1949, is fully owned by the Government of India. The Preamble of the Reserve Bank describes the basic functions as ‘to regulate the issue of Bank notes and keeping of reserves with a view to securing monetary stability in India and generally, to operate the currency and credit system of the country to its advantage'.The twin objectives of monetary policy in India have evolved over the years as those of maintaining price stability and ensuring adequate flow of cred it to facilitate the growth process. The relative emphasis between the twin objectives is modulated as per the prevailing circumstances and is articulated in the policy statements by the Reserve Bank from time to time. Consideration of macro-economic and financial stability is also subsumed in the mandate. The Reserve Bank is also entrusted with the management of foreign exchange reserves (which include gold holding also), which are reflected in its balance sheet.While the Reserve Bank is essentially a monetary authority, its founding statute mandates it to be the manager of market borrowing of the Government of India and banker to the Government. The Reserve Bank's affairs are governed by a Central Board of Directors, consisting of fourteen non-executive, independent directors nominated by the Government, in addition to the Governor and up to four Deputy Governors. Besides, one Government official is also nominated on the Board who participates in the Board meetings but cannot vote . IMPORTANT FUNCTIONS PLAYED BY RESERVE BANK OF INDIA IN ECONOMY MAIN FUNCTIONS oMONITORY AUTHORITY The Reserve Bank of India formulates implements and monitors the monetary policy. Its main objective is maintaining price stability and ensuring adequate flow of credit to productive sectors. oREGULATOR AND SUPERVISOR OF FINANCIAL SYSTEM Prescribes broad parameters of banking operations within which the country’s banking and financial system functions. Their main objective is to maintain public confidence in the system, protect depositors’ interest and provide cost-effective banking services to the public. MANAGER OF EXCHANGE CONTROL The manager of the exchange control department manages the Foreign Exchange Management Act, 1999. Its main objective is to facilitate external trade and payment and promote orderly development and maintenance of foreign exchange market in India. oISSUER OF THE CURRENCY The person who is issuer issues and exchanges or destroys currency and co ins not fit for circulation. His main objective is to give the public adequate quantity of supplies of currency notes and coins and in good quality. oDEVELOPMENTAL ROLEThe reserve bank of India performs a wide range of promotional functions to support national objectives. The promotional functions are such as contests, coupons, maintaining good public relations, and many more†¦.. oRELATED FUNCTIONS There are also some of the relating functions to the above mentioned main functions. They are such as Banker to the Government, Banker to banks etc†¦. ?BANKER TO THE GOVERNMENT It performs merchant banking function for the central and the state governments; also acts as their banker. ?BANKER TO THE BANKS Maintains banking accounts of all scheduled banks. ?SUPERVISORY FUNCTIONSThe Reserve Bank act, 1934 and the Banking Regulation act, 1949 have given the RBI wide powers of supervision and control over commercial and co-operative banks, relating to licensing and establishments, br anch expansion, liquidity of their asset, management and methods of working, amalgamation, reconstruction, and liquidation. The RBI is authorized to carry out periodical inspections of banks and to call for returns and necessary information from them. The supervisory functions of the RBI have helped a great deal in improving the standard of banking in India to develop on sound lines and to improve the methods of their operation. PROMOTIONAL FUNCTIONS With economic growth assuming a new urgency since Independence, the range of the Reserve Bank’s functions has steadily widened. The bank now performs a variety of developmental and promotional functions, which, at one time were regarded as outside the normal scope of central banking. The RBI was asked to promote banking habit, extend banking facilities to rural and semi-urban areas, and establish and promote new specialized financing agencies. PROBLEMS FACED BY INDIAN ECONOMY Macro-economic environment in India has taken a seriou s turn since the beginning of the year.Unprecedented rise in crude prices, surge in inflation and continued strong growth in money supply (M3) have forced the government and RBI to take strong fiscal and monetary measures leading to liquidity tightening, significant rise in interest rates and slowdown in economic growth. Economic shocks are events which adversely affect the economy and the government’s macroeconomic objectives such as growth, inflation, unemployment and the balance of payments. CERTAIN PROBLEMS FACED BY INDIAN ECONOMY oFALL IN SAVINGS RATIO The savings ratio is the % of income that is saved not spent.A fall in the savings ratio implies that consumer spending is increasing; often this is financed through increased borrowing. EFFECTS OF FALL IN SAVINGS RATIO ?HIGHER LEVEL OF CONSUMPTION This results in increase in Aggregate Demand. The increase in AD will cause an increase in economic growth and lower unemployment. However, rising Aggregate Demand may cause inf lation. Inflation will occur when growth is faster than the long run trend rate. This is now a potential problem in the India. Inflation has recently gone above 12% ?BOOM AND BUST A fall in the savings ratio is usually accompanied by a rise in confidence.It is the rise in confidence which encourages borrowing and consumers to run down savings. Therefore, there is always a danger that a falling savings ratio can be a precursor to a boom and bust situation. ?ECONOMY MORE SENSITIVE TO INTEREST RATES With a fall in the savings ratio interest rate changes will have a bigger effect in reducing spending. This is because levels of borrowing are higher and therefore a rise in interest rates has a significant impact on increasing interest repayments. Also, higher rates will not be increasing incomes from savings as much. ?BALANCE OF PAYMENTWith higher levels of consumer spending, there will be an increase in imports. Therefore this will lead to deterioration in the current account. The curren t account deficit could put downward pressure on the exchange rate in the long term. However, some people argue a fall in the savings ratio is not a problem, but, it is just a reflection of strong economy and booming housing market, which increases scope for equity withdrawal. oINFLATION Inflation is posing a serious challenge to the economic growth of India. Since Jan’08 onwards, inflation in the country has surged by 8. 2% to hit a 13-year high of ~12%.M3 growth in the economy too continued to remain strong at 20% (in July’08), well above the RBI’s comfort level of 17%. The WPI inflation rate flared up during the period driven by significant increase in the prices of commodities, primary articles and manufactured products, even though very small part of global crude price increase has been passed on to the Indian consumers. oGLOBAL RECESSION It appears that Europe, Japan and the US are entering into recession. Falling house prices, crisis in the financial syst em, and lower confidence could lead to a sharp downturn, with the worst still to come.Many argue that India’s growth is not so dependent on growth in the West. However, the Indian stock markets have been hit by the global crisis. India’s growing service sector and manufacturing sector would be adversely impacted by a global downturn. oRISE IN CRUDE PRICES How global crude prices would behave probably has no easy answers; however we believe that the current challenging and uncertain macro-economic conditions does not lead Indian financials into a state of crisis. But continued rise in crude prices and its resultant impact on inflation, interest rates and government finances has the potential to do so.Hence, crude price remains the key risk to our positive stance on the Indian financials. In the last couple of months oil prices have surged by 45% from US$ 100 to US$ 145 (and now back to US$ 115). India currently imports 70% of its crude requirement, resulting in pressure on government coffers on back of rising crude prices. oDEPRICIATING INR Surge in crude prices has severely impacted current account deficit of the country. This coupled with the outflow of FII investments has resulted in INR to depreciate sharply against dollar further fueling inflation. IMPACT OF ECONOMIC PROBLEMS ON INDIAN FINANCIALSThe current macro-economic conditions are expected to result in oSLOWDOWN IN CREDIT GROWTH oIMPACT ON MARGINS OF BANKS oPREASURE ON CREDIT QUALITY †¢SLOWDOWN IN CREDIT GROWTH While the rise in interest rates should lead to a moderation in demand for credit, Indian banks too are exercising caution while lending. Credit growth of 18% in FY09E and 17% in FY10E vs. 22% in FY08. Risks and uncertainties in the system have increased given the higher crude and commodity prices and its inflationary impact. This would curtail consumption, which would impact economic growth adversely.Further higher rates will not only impact the profitability of Indian corp orate but also impact IRRs of various proposed capex projects. This coupled with elections next year could lead to some postponement of capex plans of corporate, leading to negative impact on demand for credit. Higher rates have particularly impacted retail loan growth. As can be seen in the exhibit below, retail loan growth has slowed down significantly from 26. 5% in FY07 to ~13% in FY08. SLR Ratio of the system has started rising since mid FY08 and currently stands at 28. %. Given the expected negative impact on credit growth. †¢IMPACT ON MARGINS OF BANKS During the past 18 months, CRR has increased by 400 bps to 9. 0% currently and RBI has also discontinued with interest payment on CRR balances. Every 50 bps hike in CRR generally negatively impacts margins by ~5 bps. Till June’08, most of the banks had restrained from hiking lending rates despite significant monetary tightening. However on account of recent measures by RBI, banks have resorted to hiking PLRs in July/ August by 50-150 bps to preserve their margins.In fact in an environment, where liquidity is tight, interest rates are at elevated levels and risk premiums have increased, the banks tend to regain the pricing power. This would not only help the banks to adequately price in risks but also help protect their margins. Apart from hiking PLRs, banks are also resorting to reprising (in fact right-pricing) the loans that were sanctioned well below PLRs. Significant portion of fixed rate loans would also get re-priced over the period of 12-18 months. †¢PRESSURE ON CREDIT QUALITY Higher lending rates are expected to impact credit quality for the banking system.The extent of the impact on credit quality would also be bank specific given the loan mix (retail vs. corporate), proportion of unsecured lending, credit profile of corporate loan book and industry wise exposure. Indian banks’ fundamentals are relatively resilient with better risk management systems, dramatically improved a sset quality, stronger recovery mechanisms (legal provisions) and with adequate capitalization and provisioning. Even Certain sectors (like real estate, airlines industry) might feel the stress due to the changing macro environment and rise in interest rates.Many companies where crude forms a key raw material component are expected to get hit more severely. Similarly, sectors like real estate and SMEs, which are interest rate sensitive, would face higher delinquencies if interest rates strengthen further by 100-200 bps. NECESSARY INITIATIVES TAKEN BY RBI & MINISTRY OF FINANCE TO TACKLE ECONOMIC PROBLEMS As most of economists feel that the most horrible problem which India is facing currently is inflation which has crossed 12%. To come out of these problems RBI and ministry of finance and other relevant government and regulatory entities are taking various initiatives which are as follows†¦ RBI MONITORY POLICY With the introduction of the Five year plans, the need for appropriat e adjustment in monetary and fiscal policies to suit the pace and pattern of planned development became imperative. The monitory policy since 1952 emphasized the twin aims of the economic policy of the government: oSpread up economic development in the country to raise national income and standard of living, and oTo control and reduce inflationary pressure in the economy. This policy of RBI since the First plan period was termed broadly as one of controlled expansion, i. e. a policy of â€Å"adequate financing of economic growth and at the same time the time ensuring reasonable price stability†. Expansion of currency and credit was essential to meet the increased demand for investment funds in an economy like India which had embarked on rapid economic development. Accordingly, RBI helped the economy to expand via expansion of money and credit and attempted to check in rise in prices by the use of selective controls. OBJECTIVES OF MONITORY POLICY ?PRICE STABILITY ?MONITORY TAR GETTING ?INTEREST RATE POLICY ?RESTRUCTURING OF MONEY MARKET ?REGULATION OF FOREIGN EXCHANGE MARKET WEAPONS OF MONITORY POLICYCentral banks generally use the three quantitative measures to control the volume of credit in an economy, namely: oRaising bank rates oOpen market operations and oVariable reserve ratio However, there are various limitations on the effective working of the quantitative measures of credit control adapted by the central banks and, to that extent, monetary measures to control inflation are weakened. In fact, in controlling inflation moderate monetary measures, by themselves, are relatively ineffective. On the other hand, drastic monetary measures are not good for the economic system because they may easily send the economy into a decline.In a developing economy there is always an increasing need for credit. Growth requires credit expansion but to check inflation, there is need to contract credit. In such a encounter, the best course is to resort to credit contr ol, restricting the flow of credit into the unproductive, inflation-infected sectors and speculative activities, and diversifying the flow of credit towards the most desirable needs of productive and growth-inducing sector. It should be noted that the impression that the rate of spending can be controlled rigorously by the contraction of credit or money supply is wrong in the context of modern economic societies.In modern community, tangible, wealth is typically represented by claims in the form of securities, bonds, etc. , or near moneys, as they are called. Such near moneys are highly liquid assets, and they are very close to being money. They increase the general liquidity of the economy. In these circumstances, it is not so simple to control the rate of spending or total outlays merely by controlling the quantity of money. Thus, there is no immediate and direct relationship between money supply and the price level, as is normally conceived by the traditional quantity theories.Wh en there is inflation in an economy, monetary restraints can, in conjunction with other measures, play a useful role in controlling inflation. †¢FISCAL POLICY Fiscal policy is another type of budgetary policy in relation to taxation, public borrowing, and public expenditure. To curve the effects of inflation and changes in the total expenditure, fiscal measures would have to be implemented which involves an increase in taxation and decrease in government spending. During inflationary periods the government is supposed to counteract an increase in private spending.It can be cleared noted that during a period of full employment inflation, the aggregate demand in relation to the limited supply of goods and services is reduced to the extent that government expenditures are shortened. Along with public expenditure, governments must simultaneously increase taxes that would effectively reduce private expenditure, in an effect to minimise inflationary pressures. It is known that when m ore taxes are imposed, the size of the disposable income diminishes, also the magnitude of the inflationary gap in regards to the availability of the supply of goods and services.In some instances, tax policy has been directed towards restricting demand without restricting level of production. For example, excise duties or sales tax on various commodities may take away the buying power from the consumer goods market without discouraging the level of production. However, some economists point out that this is not a correct way of combating inflation because it may lead to a regressive status within the economy. As a result, this may lead to a further rise in prices of goods and services, and inflation can spread from one sector of the economy to another and from one type of goods and services to another.Therefore, a reduction in public expenditure, and an increase in taxes produces a cash surplus in the budget. Keynes, however, suggested a programme of compulsory savings, such as def erred pay as an anti-inflationary measure. Deferred pay indicates that the consumer defers a part of his or her wages by buying savings bonds (which, of course, is a sort of public borrowing), which are redeemable after a particular period of time, this is sometimes called forced savings. Additionally, private savings have a strong disinflationary effect on the economy and an increase in these is an important measure for controlling inflation.Government policy should therefore, include devices for increasing savings. A strong savings drive reduces the spendable income of the consumers, without any harmful effects of any kind that are associated with higher taxation. Furthermore, the effects of a large deficit budget, which is mainly responsible for inflation, can be partially offset by covering the deficit through public borrowings. It should be noted that it is only government borrowing from non-bank lenders that has a disinflationary effect.In addition, public debt may be managed in such a way that the supply of money in the country may be controlled. The government should avoid paying back any of its past loans during inflationary periods, in order to prevent an increase in the circulation of money. Anti-inflationary debt management also includes cancellation of public debt held by the central bank out of a budgetary surplus. Fiscal policy by itself may not be very effective in combating inflation; therefore a combination of fiscal and monetary tools can work together in achieving the desired outcome. †¢DIRECT MEASURESDirect controls refer to the regulatory measures undertaken to convert an open inflation into a repressed one. Such regulatory measures involve the use of direct control on prices and rationing of scarce goods. The function of price control is a fix a legal ceiling, beyond which prices of particular goods may not increase. When ceiling prices are fixed and enforced, it means prices are not allowed to rise further and so, inflation is supp ressed. Under price control, producers cannot raise the price beyond a specified level, even though there may be a pressure of excessive demand forcing it up.In times of the severe scarcity of certain goods, particularly, food grains, government may have to enforce rationing, along with price control. The main function of rationing is to divert consumption from those commodities whose supply needs to be restricted for some special reasons; such as, to make the commodity more available to a larger number of households. Therefore, rationing becomes essential when necessities, such as food grains, are relatively scarce. Rationing has the effect of limiting the variety of quantity of goods available for the good cause of price stability and distributive impartiality.Another control measure that was suggested is the control of wages as it often becomes necessary in order to stop a wage-price spiral. During galloping inflation, it may be necessary to apply a wage-profit freeze. Ceilings o n wages and profits keep down disposable income and, therefore the total effective demand for goods and services. On the other hand, restrictions on imports may also help to increase supplies of essential commodities and ease the inflationary pressure. However, this is possible only to a limited extent, depending upon the balance of payments situation.Similarly, exports may also be reduced in an effort to increase the availability of the domestic supply of essential commodities so that inflation is eased. In general, monetary and fiscal controls may be used to repress excess demand but direct controls can be more useful when they are applied to specific scarcity areas. As a result, anti-inflationary policies should involve varied programmes and cannot exclusively depend on a particular type of measure only. RECENT INNOVATIONS IN INDIAN BANKING HDFC Bank’s ‘Net Safe’ card is a one-time use card with a limit that’s specified, taken from Tendon’s credi t or debit card.Even if Tandon fails to utilize the full amount within 24 hours of creating the card, the card simply dies and the unspent amount in the temporary card reverts to his original credit or debit card. Welcome to one of the myriad ways in which bankers have been trying to innovate. They’re bringing ATMs, cash and even foreign exchange to their customers’ doorsteps. Indeed, innovation has become the hottest banking game in town. Want to buy a house but don’t want to go through the hassles of haggling with brokers and the mounds of paperwork? Not to worry.Your bank will tackle all this. It’s ready to come every step of the way for you to buy a house. Standard Chartered, for instance, has property advisors to guide a customer through the entire process of selecting and buying a house. They also lend a hand with the cumbersome documentation formalities and the registration. Don’t fret if you’ve already bought your house or car â€⠀œ you can do other things with both. You can leverage your new house or car these days with banks like ICICI Bank and Stanchart ready to extend loans against either, till it’s about five years old.Loans are available to all car owners for almost all brands of cars manufactured in India that are up to five years old. Last month, Kotak Mahindra Bank introduced a variant of the sweep-in account. If the balance tops Rs 1. 5 lakh, the excess runs into Kotak’s liquid mutual fund. â€Å"Even if the money is there only for the weekend, a liquid fund can earn you a clean 4. 5 per cent per annum,† points out Shashi Arora, vice president, marketing, Kotak Mahindra Bank. That’s not a small gain considering that your current account does not pay you any interest.And if, meanwhile, you want to buy a big-ticket home theatre system, the minute you swipe your card the invested sum will return to your account. Banks are also attempting to reach out to residents of metropo litan cities where people are pressed for time (what with long commuting hours, traffic jams and both spouses working), beyond conventional banking hours. ICICI Bank, for example, introduced eight to eight banking hours, seven days of the week, in major cities. Not to be outdone, some of the other private banks have also done this too.HDFC Bank even has a 24-hour branch at Mumbai’s international airport. INDIAN BANKING IN 2010 The interplay between policy and regulatory interventions and management strategies will determine the performance of Indian banking over the next few years. Legislative actions will shape the regulatory stance through six key elements: industry structure and sector consolidation; freedom to deploy capital; regulatory coverage; corporate governance; labor reforms and human capital development; and support for creating industry utilities and service bureaus.Management success will be determined on three fronts: fundamentally upgrading organizational capa bility to stay in tune with the changing market; adopting value-creating M&A as an avenue for growth; and continually innovating to develop new business models to access untapped opportunities. Through these scenarios, we can paint a picture of the events and outcomes that will be the consequence of the actions of policy makers and bank managements. These actions will have dramatically different outcomes; the costs of inaction or insufficient action will be high. Specifically, at one extreme, the sector could account for over 7. per cent of GDP with over Rs.. 7,500 billion in market cap, while at the other it could account for just 3. 3 per cent of GDP with a market cap of Rs. 2,400 billion. Banking sector intermediation, as measured by total loans as a percentage of GDP, could grow marginally from its current levels of ~30 per cent to ~45 per cent or grow significantly to over 100 per cent of GDP. In all of this, the sector could generate employment to the tune of 1. 5 million comp ared to 0. 9 million. Today availability of capital would be a key factor — the banking sector will require as much as Rs. 00 billion (US$ 14 billion) in capital to fund growth in advances, non-performing loan (NPL) write offs and investments in IT and human capital up gradation to reach the high-performing scenario. Three scenarios can be defined to characterize these outcomes: oHIGH PERFORMANCE In this scenario, policy makers intervene only to the extent required to ensure system stability and protection of consumer interests, leaving managements free to drive far reaching changes. Changes in regulations and bank capabilities reduce intermediation costs leading to increased growth, innovation and productivity.Banking becomes an even greater driver of GDP growth and employment and large sections of the population gain access to quality banking products. Management is able to overhaul bank organizational structures, focus on industry consolidation and transform the banks into industry shapers. In this scenario we witness consolidation within public sector banks (PSBs) and within private sector banks. Foreign banks begin to be active in M&A, buying out some old private and newer private banks. Some M&A activity also begins to take place between private and public sector banks.As a result, foreign and new private banks grow at rates of 50 per cent, while PSBs improve their growth rate to 15 per cent. The share of the private sector banks (including through mergers with PSBs) increases to 35 per cent and that of foreign banks increases to 20 per cent of total sector assets. The share of banking sector value adds in GDP increases to over 7. 7 per cent, from current levels of 2. 5 per cent. Funding this dramatic growth will require as much as Rs. 600 billion in capital over the next few years. oEVOLUTION Policy makers adopt a pro-market stance but are cautious in liberalizing the industry.As a result of this, some constraints still exist. Processes to create highly efficient organizations have been initiated but most banks are still not best-in-class operators. Thus, while the sector emerges as an important driver of the economy and wealth in 2010, it has still not come of age in comparison to developed markets. Significant changes are still required in policy and regulation and in capability-building measures, especially by public sector and old private sector banks. In this scenario, M&A activity is driven primarily by new private banks, which take over some old private banks and also merge among themselves.As a result, growth of these banks increases to 35 per cent. Foreign banks also grow faster at 30 per cent due to a relaxation of some regulations. The share of private sector banks increases to 30 per cent of total sector assets, from current levels of 18 per cent, while that of foreign banks increases to over 12 per cent of total assets. The share of banking sector value adds to GDP increases to over 4. 7 per cent. oSTAGNATION I n this scenario, policy makers intervene to set restrictive conditions and management is unable to execute the changes needed to enhance returns to shareholders and provide quality products and services to customers.As a result, growth and productivity levels are low and the banking sector is unable to support a fast-growing economy. This scenario sees limited consolidation in the sector and most banks remain sub-scale. New private sector banks continue on their growth trajectory of 25 per cent. There is a slowdown in PSB and old private sector bank growth. The share of foreign banks remains at 7 per cent of total assets. Banking sector value adds meanwhile, is only 3. 3 per cent of GDP. oNEED TO CREATE A MARKET DRIVEN BANKING SECTOR WITH ADEQUATE FOCUS ON SOCIAL DEVELOPMENTThe term â€Å"policy makers†, refers to the Ministry of Finance and the RBI and includes the other relevant government and regulatory entities for the banking sector. The coordinated efforts between the v arious entities are required to enable positive action. This will spur on the performance of the sector. The policy makers need to make coordinated efforts on six fronts: †¢Help shape a superior industry structure in a phased manner through â€Å"managed consolidation† and by enabling capital availability.This would create 3-4 global sized banks controlling 35-45 per cent of the market in India; 6-8 national banks controlling 20-25 per cent of the market; 4-6 foreign banks with 15-20 per cent share in the market, and the rest being specialist players (geographical or product/ segment focused). †¢Focus strongly on â€Å"social development† by moving away from universal directed norms to an explicit incentive-driven framework by introducing credit guarantees and market subsidies to encourage leading public sector, private and foreign players to leverage technology to innovate and profitably provide banking services to lower income and rural markets. Create a un ified regulator, distinct from the central bank of the country, in a phased manner to overcome supervisory difficulties and reduce compliance costs. †¢Improve corporate governance primarily by increasing board independence and accountability. †¢Accelerate the creation of world class supporting infrastructure (e. g. , payments, asset reconstruction companies (ARCs), credit bureaus, back-office utilities) to help the banking sector focus on core activities. †¢Enable labor reforms, focusing on enriching human capital, to help public sector and old private banks become competitive. NEED FOR DECISIVE ACTION BY BANK MANAGEMENT Management imperatives will differ by bank. However, there will be common themes across classes of banks: †¢PSBs need to fundamentally strengthen institutional skill levels especially in sales and mar marketing, service operations, risk management and the overall organizational performance ethic. The last, i. e. , strengthening human capital will be the single biggest challenge. †¢Old private sector banks also have the need to fundamentally strengthen skill levels.However, even more imperative is their need to examine their participation in the Indian banking sector and their ability to remain independent in the light of the discontinuities in the sector. †¢New private banks could reach the next level of their growth in the Indian banking sector by continuing to innovate and develop differentiated business models to profitably serve segments like the rural/low income and affluent/ HNI segments; actively adopting acquisitions as a means to grow and reaching the next level of performance in their service platforms.Attracting, developing and retaining more leadership capacity would be key to achieving this and would pose the biggest challenge. †¢Foreign banks committed to making a play in India will need to adopt alternative approaches to win the â€Å"race for the customer† and build a value-creating cus tomer franchise in advance of regulations potentially opening up post 2009. At the same time, they should stay in the game for potential acquisition opportunities as and when they appear in the near term. Maintaining a fundamentally long-term value-creation mindset will be their greatest challenge.The extent to which Indian policy makers and bank managements develop and execute such a clear and complementary agenda to tackle emerging discontinuities will lay the foundations for a high-performing sector in 2010. CONCLUSION We can conclude that the financial sector is a nerve system of Indian economy. Banking plays an important role in development of economy. For steady growth in economy innovations and development in financial sector is very important. Economy of any country faces lots of challenges and problems. To tackle those problems financial sector plays a vital role.The financial sector makes the economy efficient to the extent where it can rival other developed economies in t he world. Financial sector also faces lots of problems but it should develop certain strategies to come out of these problems which is very important for healthy growth of economy. BIBLIOGRAPHY ?FINANCIAL SRVICES AND MARKET GORDAN AND NATRAJAN ?INDIAN BANKING SYSTEM V. K. BHALLA ?INTRODUC TION TO ECONOMIC ANALYSIS R. PRESTON MCAFEE ?MONEY, BANKING, INTERNATIONAL TRADE AND PUBLIC FINANCE D. M. MITHANI ?BANKING AND PRACTICE P. N. VARSHNEW ?MONEYCONTROL. COM ?MONEYPORE. COM ?RBI. ORG. IN