Report on UBL Essay Example

Report on UBL Essay Executive Summary UBL is the second largest bank of Pakistan with assets of over Rs. 550 billion and a solid track record of forty six years in addition to the convenience of over 1400 branches serving its customers throughout the country and also at several overseas locations. In this 8 weeks internship program I have worked in Regional Credit Administration Departments (MIS section, Processing section, Documentation section) of this high class bank of Pakistan where I have learned about banking from experienced managers running these sections. During my internship I have found that in banking sector concentration and consistency is of utmost importance. Your little mistake can create a big problem. I have been worked in credit administration department for eight weeks, two weeks in Processing section, two weeks in Documentation section and four weeks in MIS section. This report contains the information and learning about UBL that I learnt during the 8 weeks internship period in United Bank limited. This report deals with Credit Administration Department in which I worked. Recognizing the need of Islamic banking, UBL also provided number of Islamic banking services like Islamic Deposit Schemes and Islamic Fund Based Facilities. At the end of the report, on basis of my observation during internship, financial analysis and SWOT analysis of UBL is provided. Suggestions are also recommended as per learning from analysis. This report will provide a better and brief learning about United Bank Limited. Background of Organization [pic] History of Banking â€Å"Bank is a pipeline through which currency moves into and out of circulation. Bank accepts deposits and repays cash to its customers on their demand. The Bank borrows money at a lesser rate of interest and lends it to the borrowers at a higher rate. It is thus a profit-lending concern. Bank cannot lend all the money that has been deposited with it. It has to keep a certain portion of the total deposits in cash with them in order to meet the cash requirements of the individuals and business concern. Banki ng History Word Bank is said to be derived from the words Banc us or Banque or Bank. The history of banking is traced to as early as 2000 BC. We will write a custom essay sample on Report on UBL specifically for you for only $16.38 $13.9/page Order now We will write a custom essay sample on Report on UBL specifically for you FOR ONLY $16.38 $13.9/page Hire Writer We will write a custom essay sample on Report on UBL specifically for you FOR ONLY $16.38 $13.9/page Hire Writer The priests in Greece used to keep money and valuables of the people in temples. These priests thus acted as financial agents. The origin of banking is also traced to early goldsmiths. They used to keep strong safes for storing the money and valuables of the people. The persons who had surplus money found it safe and convenient to deposit their valuables with them. The FIRST STAGE in the development of modern banking, thus, was the accepting of deposits of cash from those persons who had surplus money with them. The goldsmiths used to issue receipts for the money deposited with them. These receipts began to pass from hand to hand in settlement of transactions because people had confidence in the integrity and solvency of goldsmiths. When it was found that these receipts were drawn in such a way that it entitles any holder to claim the specified amount of money from goldsmiths. A depositor who is to make the payments may now get the money in cash from goldsmiths or pay over the receipt to the creditor. These receipts were the earlier bank notes. The SECOND STAGE in development of banking thus was the issue of bank notes. The goldsmiths soon discovered that all the people who had deposited money with them did not come to withdraw their funds in cash. They found that only a few persons presented the receipt for encashment during a given period of time. They also found that most of the money deposited with was lying idle. At the same time, they found that they were being constantly requested for loan on good security. They thought it profitable to lend at least some of the money deposited with them too the needy persons. This proved quite a profitable business for the goldsmiths. They instead of charging interest from the depositors began to give them interest on the money deposited with them. This was the THIRD STAGE, in the development of banking. By experience the banks came to know that they could keep a small proportion of the total deposits for meeting the demands of customers for cash and the rest they could easily lend. They allowed the depositors to draw over and above the money actually standing to their credit. In Economics terminology we can say that they allowed the overdraft facilities to their depositors. This was the FOURTH STAGE, in development of banking. When every bank issues receipts and most of them allowed the overdraft facilities, there was then too much confusion in the banking system. The banks in order to earn profits could not keep adequate reserves for meeting the demands of the customers for cash. The failures on the part of the bankers to return money caused widespread distress among the peoples. In order to create confidence among the people, steps were taken to regulate the banking organization. A conference was held in Nuremberg in 1548. It was decided that a bank should be set up by the state, which should streamline the banking organization and technique. The first central bank was formed in Geneva in 1578. Bank of England was established in 1694. The responsibility of issuing of notes is now entrusted to a central bank of each country. Commercial Banking in Pakistan At the time of partition total numbers of Banks were 38 only. Out of these Banks the Pakistani Banks were only 2, Indian Banks 29 Exchange Banks were 7. The total of deposits of Pakistani Banks was Rs. 880 Million. advances were Rs: 198 Million. According to banking companies ordinance Banks are the companies, which transacts the business of Banking in Pakistan. Commercial Banks have constituted the most important part of the intuitional credit in the economy of Pakistan. Being the largest source of credits, Banking Industry is a pivot of whole the economic activities in Pakistan. Section 37(2A) of State Bank of Pakistan Act 1965 lays down that the Banks must have paid-up capital reserve of not less then Rs: 5 Lac fulfilling certain other requirements for declaring as â€Å"Scheduled Bank†. At the time of independence Bank services was badly affected. But with the passage of time these are improving. The government of Pakistan nationalized all Banks in early 1974. This act was done to minimize control of few hands over banking. But this step was proved e futile for the Banking in Pakistan. So the Govt. had to revise its decision in1990. Two Banks (Allied Bank Of Pakistan Limited Muslim commercial Bank Of Pakistan Limited have been denationalized. Since then Banks were working well. Now slogan of the Banks is to serve their customers in the best possible manner. Professor Berton: â€Å"Banks are the guardian distributor of money â€Å". Similarly we can say that it is a pipeline thorough which currency moves into outside the circle. Banks accept deposited of money and repay it on demand. Bank borrows money at lesser rate of interest lends it at higher rate of interest. In this way Banks earn money. Bank do not lend all money they collect, they keep certain portion of it as reserve to meet the uncertain demand of the customer. [pic] Functions of a Commercial Bank In general terms the functions of a commercial bank can be classified under the following main heads. Accepting Deposits Some people have excess money and they want to deposits it to some honest man or an institution which can give them some profit. So the first function of commercial bank is to receive deposit there are three types of deposits. Demand Deposits or Current Deposits Some people deposit their excess money in the current accounts and they can withdraw their money deposited in this account at any time during the banking hours, so bank is not ready to give interest on it Fixed Deposits These deposits are fixed for a particular period. Commercial banks also pay an interest on these accounts. An important thing related to it is the varying interest rates for the different period deposits. Interest rate increases with the increase in the fixed deposit period. Saving Deposits To create the habit of savings, bank accepts the saving deposits and pays an interest on these deposits. And this rate of interest is greater than the demand deposits. Advancing Loans Bank also advances the loans to the merchants and charges the interest. It is the major source of its income. It also issues the loan for short term, medium term and for long term. And bank receives the higher interest from the borrower for the long term loans offered. Discounting of Bill Commercial banks also discount the bills and facilitate the business; for example one businessman purchases anything from another person and promises to pay after one month. The seller will write a bill to the buyer and there will be an order that after one month the buyer will pay the amount to the seller. Buyer will sign on the bill. In other words buyer will accept the responsibility of that amount. If seller is in need of money, he will take it to the bank and will receive the money by discounting the bills. The commercial bank also may rediscount it from the central bank. Cheap Medium of Exchange By issuing cheques and drafts bank provides cheap, medium of exchange. Transfer of Money The commercial bank is very helpful in transferring the money from one place to another by issuing the drafts. This is very popular concept in the modern world and widely used in the business community. Custodian of Precious Articles Banks also provide lockers for the safety of precious articles. So now everyone can secure his precious metals like gold, silver, etc. , and bank charges a very nominal charge for this facility. Agency Services Commercial Banks also perform the duty of an agent. It collects and pays on the behalf of the customers. Investment On behalf of the customers all the banks also make an investment in different companies and industries. And banks receive nominal charge from the customers. Creation of Credit It also creates and extends the volume of credit. Facilitating Trade Activities It also provides the finance to the foreign trade. Letter of credits are issued by the commercial banks for the foreign payments. Purchase and Sale of Securities The commercial bank purchases and sells the securities, for itself and sometimes on the behalf of the costumes. Acting as a Trustee If a client directs his bank to act as a trustee in the administration of a business, the bank performs this responsibility. Role of Commercial Bank in the Economic Development of Pakistan Banks play an important role in the economic development of country. If our Banking system is not in accordance to the economic requirement then how it can play a vital role in our developments. The State Bank of Pakistan is at the apex and all the commercial Banks have to follow the rules of State Bank of Pakistan. Role of the banking sector can be judged by the following facts: Saving Mobilization The commercial Banks namely United Bank Limited Pakistan, Habi Bank Ltd, Allied Bank Of Pakistan Ltd. National Bank has opened Branches in urban areas rural areas to mobilize savings of people. Financing of Development Projects Banks other financial institutions like ADBP, IDBP, and PICIC etc. Advances short medium terms loans for financing of the development projects both in the private public sectors . So they helping to accelerate the rate of progress (Economic) in the country. Enhancing Trade Activities The credit institutions collect the savings of people make them available for facilitating the trade activities both inside outside the country. Creating Climate for Capital Formation A developed baking system stimulates the growth of economy by creating favorable climate for capital formation in the Country. Help of State Bank of Pakistan in Achieving Monetary Publishes Commercial Banks under the supervision guidance of the S. B. P help in implementing achieving the objective of monetary policy, which vary from time to time. Assist In Planned Development Commercial Banks are profit-seeking enterprises. In order to maximize profit they have the incentive from S. B. P to maximize the limit of finance. An organized Banking system keeps balance between the liquidity * profitability, thus assists in the planed development of the Country. Profit Sharing Scheme Commercial Banks receive surplus balance of the households and business pay interest on the deposit of client. The depositors instead of having a fixed return on the deposit will share in the profit loss of the Bank. The profit loss scheme arrangement is the alternative to interest, under an Islamic economic system, which is since on the experimental basis in Pakistan. Introduction to United Bank Limited UBL is the second largest bank of Pakistan with assets of over Rs. 550 billion and a solid track record of forty six years in addition to the convenience of over 1400 branches serving you throughout the country and also at several overseas locations. Date Established November 7, 1959 Chairman His Highness Shaikh Nahayan Mabarak Al Nahayan Branches 1400 Domestic, 19 Overseas Branches (Ten countries) Representative Offices Tehran Subsidiary United Bank AG Zurich, Switzerland United National Bank Limited, UK (Joint venture with NBP) UBL Fund Managers Limited Associated Company Oman United Exchange Company, Muscat Offshore Banking Unit Export Processing Zone, EPZ Branch, Karachi, Pakistan Head Office State Life Insurance Corp. Building #1, I. I. Chundrigar Road, Karachi, Pakistan P. O. Box No. : 4306 Phone: (92-21) 111-825-111 Gram: UNITED Fax: (92-21) 2413492 Board of Directors ChairmanCFO Secretary Mr. Atif R. BokhariMr. Obbad Fazal Chief Executive OfficerAuditors Mr. Muhammad Ali1)KPMG Taseer Hadi co. Chartered Accountants. 2) A. F Ferguson Co. Charted Accountants Board of Directors Legal Advisor Mohsin Tayebaly CO Mr. Atif R. Bokhari Chairman/Director Mr. Mansoor KhanDirector Mr. Aameer KarachiwalaDirector Mr. Kashif ShahDirector Mr. Hassan RazaDirector Mr. Mohammad Asghar Director Mr. Ali Sameer farouquiDirector Mr. Saeed IqbalDirector Mir Muhammad AliCEO/Director Audit Committee Mr. Aameer M. Karachiwala Mr. Ali Sameer, Mr. Saeed Iqbal Hierarchy of the Management [pic] Credit Rating Credit Rating by JCR VIS Credit Rating Company Limited June 30, 08 Long Term Rating: AA +’ United Bank Limited is one of the largest Commercial Bank in Pakistan. The Banks long term rating is AA +, which denotes good credit quality. Protection factors are strong. Risk is modest but may vary slightly from time to time because of economic conditions. Short Term Rating A-1+ The short-term rating is A-1+, which denotes the highest certainty of timely payment. Short-term liquidity, including internal operating factors and / or access to alternative sources of funds, is outstanding and safety is just below risk free Government of Pakistans short-term obligations. Term Finance Certificate Rating TFC I: AA TFC II: AA TFC III: AA TFC IV: AA Business Operations [pic] Reorganization of Domestic Operation In 1986, the organizational structure of domestic operations of the bank was reformed and decentralized on the basis of provinces. As a result provincial headquarters were established at Karachi, Lahore, Peshawar and Quetta in order to meet the needs of sanctioning loans and other facilities to the trade, industry and agriculture of each province. Azad Kashmir was serrated from NWFP and made separate region. The quantum of work immensely increased due to the growth of economic activities and phase of industrialization and other change in Punjab and Sindh. It was also considered necessary to improve the quality of advances and to expedite the recovery process of the loans and advances. Formation of Regional Headquarters The provincial chiefs of Punjab, Sindh, NWFP, and Baluchistan are ceased to function and in their place nine regional chief executives started functioning in the nine major cities. The new segmentation of UBL’s branches on the basis of regions can be looked from the following: Province Wise Region Allocation Provinces |Regions | |Punjab |Islamabad | | |Lahore | | |Lahore East | | |Lahore West | | |Faisalabad | | |Multan | | |Karachi | |Sindh |Hyderabad | | Peshawar | |NWFP | | |Baluchistan |Quetta | | |MuzafarAbad | |Azad Kashmir | | Locations With an integrated network of over 1400 branches in Pakistan as well as Overseas, UBL gives direct access to a comprehensive range of better banking facilities to help monitor the business locally as well as internationally. [pic] Community Services UBL is committed to the welfare of Pakistan. It lends to farmers for the purchase of tractors, superior quality seed and fertilizers. UBL further fosters the individual welfare and well being of the common man by lending house building finance and loans to set up small businesses. UBL has played a leading role in the dissemination of Computer Technology in Pakistan and is dedicated to the promotion of sports. †¢ Agricultural Loans †¢ Small Business Scheme †¢ UBL Computer Training Institute †¢ Staff Colleges of UBL †¢ UBL Sports Complex Agricultural Loans UBL’s agricultural loans on easy terms and conditions to small-scale land owning farmers boost the country’s economy and yield greener harvests. UBL enables farmers to buy good quality seeds, fertilizers, pesticides and agricultural implements. Small Business Scheme Under the Small Business Scheme, UBL is providing loans on easy terms to those who wish to set up their own small-scale business. This scheme is aimed at spreading prosperity in the country by reducing unemployment. As more and more people start their own industrial units, the country will move steadily towards economic self-reliance. UBL Computer Training Institute UBL is a pioneer in the computerization of banking in Pakistan, and now plays a leading role in the dissemination of Computer Technology in Pakistan and is proud to be a part of the Government’s Computer Literacy Program aimed at preparing the younger generation to meet the challenges of tomorrow. UBL, the leading user of Computer Technology in the Banking Sector has set up most modern facilities at Muzaffarabad, Azad Kashmir, and Sheikhupura for imparting training to the educated youth under the Government’s Computer Literacy Program. These centers are equipped with state of the art hardware and audio-visual aids and are manned by experienced professionals. Staff Colleges of UBL The UBL has three staff colleges, which are generating banking trained personnel. These colleges are at Karachi, Lahore and Rawalpindi, established in 1964, 1978 and 1977 respectively. These staff colleges are providing facilities of training to the employees of the bank so as to meeting the growing need of the banking field and coping with the changing environment of the country. UBL Sports Complex In addition to providing professional banking services, the bank continued to play an important role in the promotion of sports in the country. Towards this end, the bank has already constructed a big sports complex in Karachi, where all types of facilities for sports like cricket, hockey and flood light courts for tennis and basketball have been provided. Corporate Banking Our mission is to serve all your corporate needs and ensure your full satisfaction through product innovation, personalized banking, and top notch service. The CBG department of UBL defines corporate banking in Pakistan. Amongst the local banks UBL CBG is the pioneer in providing innovative solutions to its diversified and satisfied customer base. UBL CBG is considered to be a major player in the financial market of Pakistan. The Corporate Banking Group focuses on attracting and servicing large portfolio customers. Our forte is providing exemplary customer service using the Single Window concept and product superiority. The Relationship Management team manned by highly qualified individuals from the industry has steadily expanded our customer base and continues to enhance our cordial relations with our esteemed clients. Despite the sluggish economic growth in recent years, UBL outperformed all the other local banks in the corporate banking sector primarily due to CBGs emphasis on establishing and enhancing relationships with foreign/local blue chip and middle market customer’s thereby capturing significant market share. UBLs appetite for large exposures coupled with dedicated Structured Finance Unit, and an innovative team of professionals having extensive experience of Corporate Banking gives it the right platform to succeed in todays competitive and a demanding environment. The success of CBG has been established from the fact that UBL received the No. Euro money 2000 Best Local Bank award and recognized it to have out performed all other banks. In year 2000, UBL was also voted as the best Corporate Bank by the customers of a major foreign bank in a survey. Aggressive marketing combined with professionalism has led to an increase in UBLs market share with top corporate customers and in some cases replacing Foreign Banks. Presently, its portfolio includes the quality names in the country, which were initially confined to foreign banks only. Customer Service CBG – Offers full spectrum of services |[pic] |  | Relationship Banking This forms the pillar of our strategy as it is the primary tool towards providing you full satisfaction. Relationship Banking involves: ? Assessing and understanding customer needs ? Providing you advice on your business needs ? Helping you find viable financial solutions for your business problems ? Acting as the primary contact for you Customer Service We believe in customer retention through quality service that would encourage you to continue to bank with us your loyalty. Our UNISERVICE concept strives to attain excellence in customer service. We aim to provide total customer satisfaction through UNISERVICE, which will soon be available at our full-service branches covering: ? Trade finance ? Letters of Guarantee ? Letters of Credit Funds Transfer ? Remittances ? Bill Discounting ? Export Financing ? Credit Extension Product Range When you come to UBL, you get a full range of Products and Services to choose from: Corporate Finance ? Loan Syndication ? Structured Finance ? Term Fi nance Certificates Finance/Credit Extension ? Local Currency Facilities ? Overdrafts ? Demand Finance ? Working Capital Finance ? Import Financing ? Receivable Discounting ? Pre and Post Export Financing ? LMM Funding Trade ? Documentary Letters of Credit ? Standby Letters of Credit Guarantee ? Documentary Collection ? Funds Transfer Investment/Cash Management ? Current PLS Accounts ? Foreign Currency Cash Collection ? Utility Bill Collection ? Capital Market Hybrid Products ? FX Spot, Forwards and Hedging ? Rice/Cotton Financing for Ginners Investment Banking UBL IBG is now known as UBL Fund Manager (UFM). UFM specializes in providing innovative  and unique advice to its clients to  assist them in meeting challenges in an ever-changing market UFM consists of twelve dedicated professionals supported by over 30 relationship managers in six different locations. Rich execution experience ensures  seamless deal closures currently in the process of setting up  fund management f acilities. An active player in the market Current mandates add up to over Rs. 6 billion a healthy mixture of structuring,  advisory and project finance business either leading or participating in almost all the major TFCs Greater flexibility in deal structuring due to access to UBL’s financial resources Close liaison and top-level contacts  with Ministry of Finance, Securities and Exchange Commission of Pakistan,  Karachi Stock Exchange, State Bank of  Pakistan for swift execution Services [pic] Overseas UBL, with an integrated network of over 1400 branches globally, with 19 overseas locations, gives you direct access to a comprehensive range of better banking facilities to help you monitor your business internationally. We have branches in: ? United States of America ? Qatar ? UAE ? Bahrain ? Republic of Yemen Off Shore banking Unit and subsidiaries in: o United Kingdom o Zurich Credit Administration section When the credit facilities are approved then work of credit administration department starts. It performs two functions: †¢ Pre-dispersal function (before advancing facility) †¢ Post-dispersal Function (after credit facility is dispersed) It keeps three sections named as: †¢ Processing Section †¢ Documentation Section †¢ MIS (Management Information System) Section Relationship managers (RM’s) bring cases from customers and present to RCAD. RM’s have direct contact with customers. Case first comes to Processing Officer who checks the necessary prudential requirements if so then case is forwarded to Risk Management Department (RMD) otherwise send back to ( RM) to fulfill necessary requirements. Risk Management Department (RMD) verifies attached documents and send back documents after risk analysis and mention how much loan is to issue (under SBP limitations). Documentation Officer verifies the originality of documents attached and finally DAC (disbursement authorization certificate) is issued to customer. MIS keeps record of the customer in computer. And customer account is opened in the UNI bank (it is also software which keeps record that how much loan the customer has availed). Under mentioned process flow diagram present the right picture. Process Flow Diagram of Loan Disbursement [pic] My Learning as an Internee [pic] My Learning in the bank I worked in credit departments Credit Department Deposits are the liabilities of bank while advances are the assets of the bank. To balance these two sides, bank attracts the current as well as prospective customers to deposit their savings by offering high rate of interest/ profit, while in order to increase its assets, bank attracts its customers by Corporate Banking Group (CBG). The Corporate Banking Group at United Bank Limited is dedicated to providing its clients the highest level of service possible. United Bank Limited is dedicated towards developing relationships with corporate clients to service their financial needs worldwide. The Corporate Banking Group manages a high quality asset portfolio being an active player in many sectors including textile, sugar, leather, pharmaceutical, fertilizer, petrochemical, power, automotive, telecommunications, oil and gas distribution, marketing and refining and fast moving consumer goods industries. United Bank Limited offers a full range of financial services to support any or every part of a customers’ business transaction. Each solution is tailored to meet their specific business objectives. Working Capital / Term Loan Corporate banking group works closely with customers to understand the dynamics of their business so that it can anticipate and serve short-term and long-term funding needs in the most efficient manner, drawing from the full range of its resources and capabilities. Small and Medium Enterprise Group SME Group strives to apply a unique blend of finance, industry and technological expertise to keep pace with dynamic markets and translating insights into solutions that meet diverse financial needs. Documents Required for Providing Credit facility All facilities whether long or short term in nature is reviewed annually to evaluate that how a borrower has performed during its most recent fiscal year. Such reviews are conducted based on written analysis. Such analysis communicates to the credit approving officers the information needed for arriving at a credit decision. A credit presentation package consists of the following documents: ? Credit Approval (CA) ? Obligor Risk Rating Form ? Basic Information Report ? Borrower Basic Fact Sheet ? Financial Spreads ? Financial Projections (For Term Financing) ? Credit Memorandum ? CIB Report checking ? Bank/Market checking Credit Approval Package (CA) CA form is a complete document in which RM describes true position of the company. This form once completed summarizes the aggregate credit risk being approved, description of individual credit lines, and details of security obtained against each line. Credit application has two parts, in the first part we define the facilities which we provide to the customer. Like ? NICF (Hypo) ? NICF (Pledge) ? LC (Letter of credit) ? LG (Letter of Guarantee) ? FE 25 Second part of credit application consist of ten contents which describes way we giving felicities to customer. Purpose of submission / synopsis of transaction ? Industry / Strategy ? Financial Analysis ? Security Support ? Probability of Default ? Sources of Repayment ? Key Risks along with mitigating factors ? Relationship Strategy ? Conclusion Approver’s Comments / Observations In each of above content we have to write clear description about the customer Borrower Basic Fact Sheet (BBFS) It’s the responsibility of relationship manager at credit department to collect as much information about custome r as possible at the time of initiation of a relationship. BBFS consist of true information about the customer, board of directors and their residential addresses. Basic information Report (BIR) It consists of industry information. If it is a group of companies, partnership or private limited then it consists its business code. It also provides actual business address, phone number, industry name etc. MIS officer consider BIR while putting informations in CARS (Credit Analysis and Reporting System) Obligor Risk Rating Form (ORR) This form enables to weigh all United Bank Limited credits regardless of type, nature, or location of the borrower. Risk ratings are assigned on an obligor level on a scale of 1 to 10, 1 being the highest quality risk and 10 being the lowest, classified as doubtful of recovery. Risk Ratings are assigned and approved when credit is initially extended and is updated annually. Risk rating is also reviewed immediately and accordingly adjusted, if necessary, whenever there is a material adverse event such as adverse classification of the credit facilities. Financial Spreads Purpose of this form is to meet financial analysis requirements. This form consists of five pages, which are developed on â€Å"Excel† system. A summary of financial statements is automatically generated which also provides key financial indicators, growth historic patterns, and ratio analysis. Relationship manager analyzes three years historic audited-financial statements, as well as the recent financial statements. Financial Projections Financial projections are prepared by customers, which forecast their performance in near future. Financial projections help credit department to determine the expected assets and liabilities position and cash generating ability to repay debts. Credit Memorandum Credit decisions are made on the basis of the contents presented in this document. Credit memorandum is prepared with precision and accuracy of information. A well-structured credit memorandum usually evolves around the following topics: †¢ Purpose of presenting the credit memorandum †¢ Relationship background of borrower with United Bank Limited †¢ Relationship profitability †¢ Relationship strategy †¢ Management assessment †¢ Financial Analysis Bank/Market checking These checking provide unbiased information about borrower, which is obtained, from his customers, competitors, and suppliers. Credit checking on borrower is also obtained by manager from his bank. CIB (Credit Information Bureau) Report Checking CIB report depicts that how much customer has availed exposure from different banks allover Pakistan. UBL is one of few banks of Pakistan which has centralized information reporting system i. e. CARS and CREAMS. Through CARS data is directly reported to State bank of Pakistan. State Bank carries informations from all of the banks in Pakistan and shows full exposure of the very customer in CIB report. Covenants Check-offs In term lending multiple covenants, financial as well as qualitative, are imposed by lenders. At the time of annual review of the term facilities it is checked that if borrower adheres to these covenants. Steps involve in Credit advancement process includes: †¢ Customer relationship (customer must open current account with the bank) †¢ Customer’s facility request †¢ Credit application †¢ Facility offer Types of Loans Basic purpose of credit department is the advancement of loans to its customers. Loans are basically of two types: Funded Facilities In funded facilities bank’s cash is physically involved. Funded facilities include: Running Finance Term Finance Finance against Bill Purchased (FBP) ? FBP (Own Acceptance Purchase) ? FAFB (Finance against Foreign Bill) ? Export Refinance Part-I SBP (pre-shipment) ? Export Refinance part-I SBP (Post-shipment) Export Refinance part-II (SBP) ? Forced Acceptance ? FIM (Finance against Imported Merchandise) ? FATR (Finance against Trust Receipt) ? Dollar Financing (Pre-shipment) Non-Funded Facility In non-funded facility bank’s cash is not physically involved. Non-Funded facilities include: o Sight L/C o Usance L/C o Acceptance o Guarantee (L/G) Term Finance It’s a long-term finance facility, which is acquired to purchase fixed assets of a business. Customer borrows from bank a fixed amount repayable either in periodic installments or in lump sum at a fixed future time. Utilization of term finance decreases with the payment of installments. Payment tenor ? I year Over 1 year ? 1-5 years Syndicate Financing Such financing is used to finance some mega project. Equity of the firm is considered when providing this type of financing. The credit-requesting firm must maintain its 40% equity. To meet remaining capital requirements the firm signs a syndicate in which three or four banks jointly finance the project. One of these banks will be the leading bank, which contributes major portion of financing. So the leading bank has the major share in the installment amount received from the borrower. Money Market Deal It’s term finance. This type of financing is between banks. Diff erent banks interact with one another. If a bank has more over night funds available, which are not in use, then banks offer different rates to lend or to acquire those extra funds. Finance against Foreign Bills (FAFB) When the exporter needs finance before the payment date, he can give the bill of exchange to the negotiating bank and get the finance against that bill. In this case the bill is given as security. Ownership is not transferred to the bank. FAFB is the post -shipment finance. Foreign Bills Purchased (FBP) When the bank purchases the bills then ownership/title of security is transferred to the bank. So the bills become the property of the bank. Finance against Imported Merchandise (FIM) This type of finance is related with sight L/C. in this type of finance, the goods imported are taken by the importer’s bank as the security. As the demand for goods arise, the importer get the units of goods according to the demand from bank and pays markup and amount for that much amount of goods. Finance against Trust Receipt It is also related with sight L/C. when the goods arrive at the port, then in order to release the goods, the importer needs documents. If the importer has not yet made payments then the importer’s bank gets a Trust Receipt signed by the importer for the time period for which the bank, for releasing the goods, gives the documents to him. It’s a strong legal document. If the importer refuses to make payment after getting his goods, then the bank against him can take a strict legal action. Collateral/Securities Collateral is the amount of assets the applicant has available for use in securing the credit. The larger the amount of the available assets, the greater the chance that a bank will recover its funds if the applicant defaults, A review of the applicant’s balance sheet and any legal claims filed against the applicant’s assets can be used to evaluate the collateral. Types of Securities Pledge Pledge is the advancement of loans against the security of current assets i. e. inventory, trade receivables. In this type of security the ownership and possession of the security is with the bank. Mortgage In this type of security, the credit is given against immovable property i. e. land, building. Bank has the right to sell the property if the payment is not made. Types of Mortgage †¢ English Mortgage †¢ Equitable Mortgage †¢ Token Registered Mortgage †¢ Full Registered Mortgage English Mortgage In this type of mortgage the mortgagor (applicant) binds himself to repay the mortgage money on a certain date, and transfers the mortgage property absolutely to the bank. The banks will re-transfer both the possession and ownership of that property upon the payment of the mortgage money. Full Registered Mortgage In this type of mortgage the applicant will fully registered his property. More commission is charged in this case. Token Registered Mortgage In this type of mortgage, small portion of the property will be registered with the registrar office while the remaining will be equitable mortgage. In this way less commission will be charged. Equitable Mortgage In this type of mortgage, the bank will take all the title deeds from registrar office. A memorandum of â€Å"Deposit of title deeds† is signed by the mortgagor in whom he mentions that he is giving his property as the security to the bank. After the bank takes title deeds there will be no copy of the title deeds with the registrar. In case of equitable mortgage the ownership is with bank and possession is with customer. Bank’s Lien Lien is the banks right to withheld property until the claim on the property is paid. In lien the borrower remains the owner of the property while the possession is with the bank. Bank has no right to sell the property. Hypothecation It’s a legal transaction in which the goods may be taken as security for a debt without transferring either property or possession to the lender. It’s a security against current assets. Security is granted by means of the letter of hypothecation. Charge Charge is the right of payment out of certain property. Charge gives the right of pledge, hypothecation, mortgage and lien. Banks have to register their charge/right with SECP (Securities and Exchange Commission Pakistan). SECP maintains the records of all the companies i. e. what are the assets of companies, their board of directors. Every limited company keeps its records with SECP Charge involves ranking. Pari Passu In ranking if the customer (company) has already taken loans from other banks then SECP ranks those banks. The settlement of the loan amount will be done according to the ranking of the banks. In case of Pari Passu the bank from which the customer is going to get facility is ranked equivalent to the first/highest priority bank. in this case the priorities of other banks will decrease. For this the customer has to obtain NOC (No Objection Certificate) from other banks. Guarantees A guarantee is the promise by one person, called the guarantor, to another for answering the present or future debts of a second person called the principal debtor. Types of Guarantees UNITED BANK LIMITED issues the following types of guarantees depending on the needs of the customers: ? Tender Guarantees (Bid bonds) ? Performance Guarantees ? Advance Payment Guarantees ? Financial Guarantees Letter of Credit International trade involves numerous factors such as payment for imports in the exporter’s country, shipment of goods within the limitations prescribed and difficulties of enforcing legal rights in the foreign country etc. Therefore, to overcome these impediments a system has been enforced, this system is represented by ‘Letter of Credit. The letter of credit is today the foremost way of financing international trade. In simple words, a letter of credit (L/C) can be defined as: â€Å"A bank’s written undertaking given to the exporter for payment of a certain sum of money on behalf of the importer provided the exporter tenders to the bank, or its overseas agents, the specified documents within a specified period in accordance with the terms of the undertaking†. There are four basic parties involved in an L/C: ? Importer ? Issuing Bank ? Exporter (Beneficiary) ? Beneficiary’s Bank Advantages of an L/C Following are some of the main advantages of a letter of credit: Since a letter of credit is opened only for the importers with established credit standing, the exporter is sure of receiving the price of his commodity and there is no need to check the credibility of the importer. †¢ An exporter may obtain necessary finance immediately on shipment under a letter of credit (through negotiation, OD Buying). †¢ A letter of credit may help the importer to meet its financial difficulties. He may obtain some finances against the L/C (as FIM, FATR etc. ). †¢ Similarly, an L/C enables the exporter to obtain finances from his bank, for the operations of production even before shipment (e. g. Pre-shipment finance). Forms of a Letter of Credit Revocable L/C â€Å"A revocable letter of credit may be amended or cancelled by the issuing bank at any moment, without prior notice to the beneficiary†. This form of letter of credit gives the buyer maximum facility but it places the seller in difficult position when the goods are in transit and the credit is revoked before the documents are presented and payment has not been made on presentation which is the cause of great loss to the seller. Irrevocable L/C â€Å"An irrevocable credit constitutes a definite undertaking of the issuing bank to accept and pay the bills drawn upon it so long as the terms and conditions stipulated in the letter are fulfilled†. This form of letter of credit can be amended or cancelled only with the agreement of all parties to it. Therefore, it gives the seller complete protection. In Pakistan, all banks including united Bank are permitted to open irrevocable L/C’s only. Confirmed Unconfirmed L/C’s A confirmed credit is the one that has been confirmed by the advising bank. By confirming a credit, the bank agrees to take the liability of making payment to the seller if the issuing bank defaults for any reason. â€Å"When an issuing bank authorizes or requests another bank to confirm its irrevocable credit and the latter has added its confirmation, such confirmation constitutes a definite undertaking of such bank (the confirming bank), in addition to that of issuing bank, provided the stipulated documents are presented and that the terms and conditions of the credit are complied with. † Whereas, an unconfirmed credit is one that exclusively depends upon the issuing bank’s obligation. The parties to the present day international trade transactions prefer a confirmed irrevocable credit because it is an instrument of highest quality which ensures the payment to the seller by the advising bank while the buyer is assured of receiving the documents of title to goods, as specified in the terms of credit. Types of a Letter Of Credit There are two main types of an L/C that are being practiced. Sight L/C â€Å"If the beneficiary of a credit is to obtain payment immediately on presentation of stipulated documents, it is a Sight Credit†. In this form of credit the exporter draws a sight or demand draft (DD) payable at the counters of the advising bank or the bank specified in the letter of credit. The draft (bill of exchange) is paid on presentation provided that all the other terms of the credit have been complied with. Usance L/C When a credit stipulates payment to the beneficiary upon the maturity of a bill of exchange drawn under the terms of the credit, it is an ‘acceptance credit’, ‘terms credit’ or Usance credit†. In this form of credit the beneficiary draws a draft for a particular Usance (e. g. 30, 60 or 90 days etc. ), payable upon either the correspondent bank or the issuing bank. In normal practices, UBL opens Sight L/C’s because in Sight L/C the importer first pays the L/C amount (invoice price) to the issuing bank and then gets the possession of documents. So the bank becomes secure in this way. L. C keeps Performa invoice which keep major essentials in bullets forms. Performa Invoice Its essential elements are written as; ? Seller company name Buyer company name ? Buyer and seller company’s bank’s names ? Commodity ? Quantity ? Unit price ? Total price ? Payment procedures ? Delivery ? Port of loading ? Port of destination ? L. C beneficiary (must be seller) ? Amount and quantity with percentage of error ? L. C expiry date ? L. C opening date ? L. C must be opened before expiry date ? Vessel ( ship’s name) Qualifications for an Importer to Get an L/C Issued A Letter of Credit cannot be opened on behalf of a person unless he fulfills the following requirements: ? The person must be an account holder of UBL. ? No person can be an importer without first being registered with EPB. So the person must have valid import registration with Export Promotion Bureau (EPB) of Pakistan. This registration is not necessary for those who have been exempted from it. ? The person must process a valid membership certificate of Trade Organization, licensed and recognized by Federal Government like a Chamber of Commerce. ? The person must possess a valid NTN (National Tax No. ) certificate. ? The person must have the Sales Tax Registration Certificate. ? Obtaining of Import License is no more required. Stock Reports Stock reports are sent by the external auditors which are registered evaluators to UBL. They evaluate stock of the company lying in the godowns. They give final words whether these following essentials are up-to-date. Fire extinguishers ? Stock replacement ? Godown condition ? Guard residence permanent or not ? Stock condition ? Tagging over the stock ? Evaluation of stock in terms of million rupee ? Insurance against fire and burglary MIS officer check these report s and inspect whether these amounts mentioned in the stock reports are according to the security issued. If above mentioned any thing is not up-to-date. Then the stock report is considered unsatisfactory and debit is blocked till the company corrects its unsatisfactory items. I separated the reports which keep the unsatisfactory items. CREAMS (Credit Risk Environment’s Administration Management System) UBL is from few Pakistani Banks which keeps centralized information system. CREAMS is one of them. CREAM is highly customizable and parameterizes able software. CREAM is developed with the ideology that it can operate in all parts of the world. Certainly there are different operational, monitoring and regulatory requirements depending upon the region where the bank is operating. Further more; a single bank may operate in more than one region of the world. Parameterization lets CREAM behave according to the requirement of the region. This customization is a one time initiative and once CREAM has the requisite information, it will behave according to the bank’s requirement. This section will explain the all CREAM setup screens one by one. It must be noted the once the Parameterization phase is completed by bank then bank must lock this section. That is only authorized person (Mostly Credit Head) can enter to this section, not every one who is using CREAM application. All the Screens below have some common buttons which is going to be explaining here once with their short cut keys. Action Buttons Add Button (Alt + A): Used to add a new record Edit Button (Alt + E): Used to edit an existing record. Delete Button (Alt + D): Used to delete a record Cancel Button (Alt + C): Used to cancel a ongoing action of add, edit. Navigation Buttons First Button (Alt+F): Used to see First record. Next Button (Alt+N): Used to see the next record of the existing opened record Previous Button (Alt+P): Used to see the previous record of existing opened record. Last Button (Alt+L): Used to see the last record. Print Button: Exit (Alt+X): Used to exit from the current screen. If any one of action buttons (ADD / Edit / Delete) is disable on any screen then it means that the user don’t have a right of that action. Working of CREAMS Its working is mainly divided into three parts ? Part-1(Setup( Parameterization) Section ? Part-II( Post Granting Section ? Part-III( Transaction Section Part-1(Setup (Parameterization) Section) This part consist of many set ups but most prominent are country, region, branch, currency, about credit policy, Collateral setup etc. About Document Linkage Screen Path: Setup(Documentation(Document Linkage Screen It is the main screen we define that against which entity (like Facility, collateral) which document we require. It depends on the bank’s policy and varies from bank to bank. For example if a bank says that for the facility â€Å"FE-25, they require the document â€Å"Dollar Demand Promissory Note†. For this We Use the following screen to link the Document Dollar Demand Promissory note† against the Facility â€Å"FE-25†. This Screen is used to Link a Document against the Following entities. ? Legal Status (Also Called Customer Type) ? Facility ? Collateral ? General [pic] Field Name |Description | |Document Name |Not Given by user here. Populated here from Document Setup | | |(Setup(Documentation Setup(Document Setup. ). select the document fro m the | | |list | |Critical |If the disbursement is not possible without receiving this document then | | |marks it as a critical here. |Legal status |If a document required against the legal status (Customer type like | | |Public Limited company) of a customer then select the type as Legal | | |status. When we select the legal Status then it will show the entire type| | |name on the right. So from there the user have to select the type name. | |Facility |If a document required against the Facility then select the type as | | |Facility. When we select the Facility then it will show the all | | |facilities on the right. So from there the user have to select the | | |Facility name | |Collateral |If a document required against the Collateral then select the type as | | |Collateral. When we select the Facility then it will show the all | | |Collaterals on the right. So from there the user have to select the | | |Collateral name | |General |If there is a general type of document then select it as general. | |Linkage Action(insertion |It means the document is required only once. | |Linkage Action(renewal |Do you u need this document on renewal of customer if yes then also | | |select it. |Linkage Action(Enhanced |Do you need this document on Enhancement if yes then select it also | |Linkage-(Manual Insertion |Tick this check box of if you want manually insert this document | |Linkage Action (OTT |Do you need any document on OTT if yes then also select it. | About Collateral Set up: Path: Setup( Parameters (Collateral( Collateral Type Screen Here we can add a new collateral accordingly banks requirement. Collateral is an extra comfort obtained by a bank from its customers requesting funded or unfounded facility from a bank. Collaterals are usually valued asset which the customer hands over to the Bank as an assurance for the Bank in case of a ny default. [pic] [pic] Part-II( Post Granting Section This section contains much more setup but two more important are customer setup and facility set up. Which are as follow: Path: Post Granting( Customer Setup [pic] Path: Post granting ( Approval Package ( Approved Facilities [pic] Part-III( Transaction Section When the User will select the action of Extension or Extending Current Expiry of an Approval Effects of this Action Current Expiry in Approval Record screen will be changed to New Expiry which you will enter using this screen. [pic] |Field |Description | |Action Taken |Extension | |Approval Authority |Selection of the Name of Approval Authority | |Action Date |Date on which Approval Action is performed on this Approval | |Approval Action Code |Its an informative field | |Action Description |User can provide any extra information related to this transaction | |Approval Current Expiry] Old Expiry |CREAM will retrieve its Current Expiry from the database | |New Expiry Date |User will provide new expiry date | View of the Screen When Action is blocked [pic] Field |Description | |Action On Facility |Select the action from the drop down menu list as â€Å" Blocked† | |Action Date |The date of action. | |Action Description |Give description if any about this action | |Customer Facility Action Code |An informative field | |Facility Name Description |An informative Filed. It will show the Name of Facility and its | | |Description . Comes here from Customer Facility Screen. | About Document Transaction Screen Path: Transaction ( General ( Documentation Transaction User can do the following actions against the documents which we have already defined against the entities Customer type, Collateral Type, Facility General [pic] CREAMS is very wide software and can’t be explained in short with full understanding. These snap shots show its major features. CARS (Credit Analysis Reporting System) Consumer blue forms are generated for individual and sole proprietorship accounts. I worked in CARS (business software). At initial stage, I worked over consumer blue forms and entered consumer record in the software. I was assigned work to enter record of various customers in the software and I fulfilled my duty diligently. Following details should be entered in the software. If single of them is missing, blue form is considered incomplete keeping insufficient data; ? New and old NIC ? Gender ? Customer and his/her father/husband name ? Date of birth ? Home address ? Business name and address ? Security which is to be pledged Account Tagging Account tagging is also a part of CARS. Parties which have availed loan facility from UBL are tagged in CARS with their specific accounts. In UBL indiviual and sole proprietor account is tagged with 6160777. While partnership, public and private limited accounts are tagged with State Bank of Pakistan (SBP) provided group and subgroup codes. Templates are provided by UBL from which we could check whether the account comes under indiviual or private limited option. After confirming from templates account is tagged under their respective heads. RM’s (Relationship Managers) when record informations of customers, they wrongly put the account numbers of the customers as; ? Tagged with tetra eight ? Tagged without tetra eight ? Wrongly tagged ? Indiviual ? Final tagged RM’s (Relationship Managers) some times due to negligence mention account numbers in above mentioned ways. The above mentioned account’s informations are as Tagging with Tetra eight As RM’s (Relationship Managers) by negligence, some times tag the accounts with tetra eight i. e. account number is shown as (8888). It is counted as wrongly tagged by CAR’S (Business software). Tagging without Tetra eight RM’s (Relationship Managers) sometimes mentiuon account without tetra eight (8888) and keep them blank or untagged. It is counted as wrongly tagged by CAR’S (Business software). Wrongly Tagged: RM’s (Relationship Managers) sometimes wrongly tag the account. It is counted as wrongly tagged by CAR’S (Business software). Indiviual RM’s (Relationship Managers) mention the account by individual’s account which is tagged by (6160777) in UBL. It is to tag indiviual and sole proprietorships by 6160777. It is counted as wrongly tagged by CAR’S (Business software). Final Tag When the account is tagged, it is final account and confirmed. There is no need to review but it may be that mistake is made in tagging. FRN Tagging FRN is a number which is made by joining branch number with account number. i. e. if account number is 3457896 and account is opened in branch number 28 then its FRN number will be 283457896. Each customer is also tagged with FRN number. Report Viewing CARS have also option to view many reports like account tagging summary, blue form, central liability report etc. Most common report is blue form. After construction of blue form its report is viewed and prints out is taken for record. Product, Solutions and Services [pic] [pic] [pic] [pic] [pic] [pic] UBL Wallet [pic] UBL Wallet ATM / Debit Card is all the convenience security you desire and the quality you deserve. This Wallet holds all the cash in your bank account. With UBL Wallet you can withdraw cash at ATMs any time, or make cashless purchases at outlets through the Debit Card facility. With no joining fee and an accompanying complimentary cardholder for your convenience, UBL Wallet has been designed to exhibit the best in features and facilities, as well as look feel. Because at UBL, you come first UBLs dedicated staff is at your service 24 hours a day, 7 days a week. You can call our contact centre at 0800-11-825 (Toll-Free), or you can simply pick up the telephone placed next to every UBL ATM and be instantly connected to our customer service representative via a hotline Online Banking [pic] With UBL’s state of the art online banking, you can access your account from more than 350 branches located in 71 cities across Pakistan. Your account gets to travel with you and can be accessed throughout Pakistan, Now UBL enables you to do all the following Transactions in minutes through designated online branches. Salient features of online banking are: ? Cash Deposit ? Cheques Encashment ? Stop Payment ? Account Statement ? Funds Transfer (Account to account / IBCA) UBL Credit Card UBL Credit Card Features Welcome to the world of UBL Credit Cards. Pakistan’s 1st Chip Credit Card that guarantees you both enjoyment and high value. It assures you global acceptability in more than 22 million establishments worldwide in 130 countries and in more than 12, 000 outlets within Pakistan The UBL Credit Card †¦.. Mazay Mein Raho. ? This unique high tech CHIP guarantees your security while conducting transactions within Pakistan and around the world. CHIP based credit cards have proven to be the most secure way of conducting credit card transactions globally. ? No more tedious points to accumulate or boring catalogues to redeem from. Win your prizes instantly! ? Visit selected UBL Chip Reward outlets and get exciting gifts on the spot. The more you visit, the more you get. All you do is dip the Chip to win free meals, free household goods, free electronic items, free clothes and a lot more. ? A Choice of Rewards Along with exciting Chip Rewards you has a choice between Free Road Miles and Free Talk Time. ? Spend Rs 5000 anywher e on your UBL Credit Card and get guaranteed 3 liters petrol free from any PSO outlet nationwide. If you spend more, you get more. So keep driving, keep smiling. [pic] Spend Rs 5000 anywhere on your UBL Credit Card and get guaranteed 30 minutes free. What’s more, you get a free Mobilink Postpaid Connection with your UBL Credit Card. If you spend more, you get more minutes. So talk freely, stay connected. [pic] UBL Business Partner [pic] UBL Business partner†¦ a complete solution to all your Business Financing needs, With UBL Business Financing facility, you can now take your business to greater and newer heights, and achieve the level of success that you truly deserve. UBL Business partner is a running Finance facility that not only provides funds for growth but also enables you to capitalize on profitable opportunities. With UBL Business partner, now you will surely say: Ab Hui †¦ Kamiyaabi Meri Manzill. What is Business partner? â€Å"It is a ‘Credit Line/ OD Facility’ against Residential Property. It is an evergreen credit line that the customer can use for his/her business expansion† TezRaftaar [pic] Free Doorstep Remitta

Efficiency Essays

Efficiency Essays Efficiency Essay Efficiency Essay DISCUSSION 1) From the result obtained above, draw the equivalent circuit of the transformer referred to the primary side. Req= 2.177 ?, Xeq= j5.523 ? Rc= 1008 ?, Xm = j66.67 2) Recalculate the efficiency of the transformer using the general formula that you had written down in section (6) of your pre-lab work for full-load, 75% load and half load. At rated (Is = 5.25 A) Copper Loss, Pcu = Psc? = 60 W Core Loss, Pc = Poc? = 5.33 W Full Load Efficiency = PsPs+ Pcu+ Pc x 100 % = 607607+60 +5.33 x 100 % = 90.28 % 75 % Load Efficiency = (0.75)Ps(0.75)Ps+ 0.75(0.75)Pcu+ Pc x 100 % = 455.25455.25+ 33.75 +5.33 x 100 % = 98.04 % 50% Load Efficiency = (0.5)Ps(0.5)Ps+ 0.5(0.5)Pcu+ Pc x 100 % = 303.5303.5+15+5.33 x 100 % = 93.72 % 3) Compare the values of the efficiencies obtained in section (3) of your results with recalculated values in section (3) above. Comment on your findings. There is a difference in the efficiency for all the three condition which are full-load, 75% load and half-load. From the graph, the efficiencies for the full-load, 75% load and half-load are 96%, 98.5% and 96.8% respectively. While the calculated efficiency for all these three conditions are 90.28%, 98.04% and 93.72% respectively. The calculated value for the efficiency is done in part 2) discussion and theoretically the calculated value is more precise than experimented value. This happened because there are some errors while conducting the experiment whether human error or environment error or there is an error at the equipment itself. 4) Determine the maximum efficiency of the transformer. n= PcPcu n= 5.33360=0.298 ?max= 1820(0.298)18200.298+0.298(0.298)60+0.298(5.333)?100%=98.74% 5) Calculate P? and PV. The values should be same as the wattmeter readings. Determine the ratio of PV/ P? . Pv=2VIcos30? °=2 ?127 ?2.5?cos30? °=549.92 W W P? = 3VI = 3? 127 ? 2.5 = 925.5 W PvP?= 549.92925.50 = 0.594

Human Resource Management Essay Example | Topics and Well Written Essays - 2000 words - 6

Human Resource Management - Essay Example One positive solution is the recruitment of older individuals into the current workforce. This strategy will serve in solving the current shortage in the labor force as well as provide long-term benefits that future generations will be able to reap. The main approach that should be taken when attempting to implement this strategy is the encouragement of the ideal that older employees are still needed within the workforce. Organizations should strive to make their older employees feel wanted and integrate them with younger generation so as to allow them to benefit from their experience. Doing so successfully will solve the problems that are currently being faced by the organizations and attempt at ensuring that they will not have to be faced again in the future. Introduction The labor force has been faced with a problem over the past couple of years as an ageing population has become the near majority of available workers as the society faces a decrease in birth rates in most develope d countries. This issue has meant that organizations have had to come up with a way to ensure that they can gain a steady supply of labor so as to avoid complications with replenishing their workforce when necessary (Denhardt & Denhardt, 2009). The main solution would be a long term objective of adopting strategies that will enhance the transition of employees that go through an organization’s doors. Including the older employees in the workforce can be said to be the first strategy that should be implemented towards achieving this objective. However, methods will have to be developed so as to ensure that the strategy implementation is successful (O'Brien, 2009). To do so one will have to look at the various challenges that may be faced while trying to integrate the older generation into the workforce and the possible solutions that can be found for them. The benefits should also be studied to determine the advantages that will come with the application of this new approach t owards the older workforce (Denhardt & Denhardt, 2009). The strategy will have to include ways of encouraging the older employees to remain with the company as in some case, others could have been tempted with the thought of retirement. There will also be a need to develop ways in which the older generation will work in harmony with the younger employees. Business Case There is a wise business sense in implementing the strategy of involving the older generation within the workforce. The main issue would be to look at the benefits that such an action would bring to an organization and which areas would such a strategy improve (Denhardt & Denhardt, 2009). While looking at the case from a business point of view, the first thing to be considered would be the costs that could be incurred or reduced as a result of recruiting older workers into the labor force. The main issue would be that the action would only prove justifiable if the act of including additional older employees into the w orkforce will result in a reduction of the costs of operations and if possible, provide a means of profitability as well be it marginally or outright accountability (O'Brien, 2009). In order to establish this, there will need to be a number of areas that have to be studied

Comparison Essay Example | Topics and Well Written Essays - 1000 words - 1

Comparison - Essay Example Winning could be determined using various standards determined by the respective judges. Examples of these sports, which would be featured in this paper as it seeks to compare and contrast them from various aspects, include football and baseball. Football refers to sports involving ball kicking with the aim of scoring a goal. The most common form of football, association football, just referred to as football originated from Romans and Ancient Greeks. There would be opposing teams comprising of between 11 and 18 players with a maximum of 11 players being in the field at any playing moment. The points in the game would be earned by scoring goals by moving the football towards the opposite team’s side of the field with the aim of having the ball enter between the two goal posts. The opponents would be defending the goal line to make sure that the ball does not cross it with goalkeepers being the only players with the right of touching the ball in preventing a score. Several code s such as offside, free kick and being carded would be determined by the set rules and regulations to govern the game. The winner would be determined by the team with the highest number of goals. Various clubs have existed since the 18th Century involved in competitively playing football. The official international football governing body, FIFA has its headquarters in Zurich with six associated regional confederations. Baseball sports involves two teams each of nine players aiming as scoring runs through hitting a thrown ball using a bat a hitting four bases at the corners of the diamond, usually 90 foot in size. The batting team players hit in turns against the pitcher of the opponents, the fielding team which stops them from scoring runs. With the recording of three outs from the fielding team, the teams switch between fielding and batting. The winner would be determined by the number of runs such that the team with the most runs wins. Baseball and football have attracted huge fan s in countries with these sports such as the US. Both football and baseball are ball games, despite the difference in the sizes and shapes of the balls. Players would throw the ball and run after it. To win in either of these sports, teamwork plays a crucial role in ensuring that the highest number of scores has been recorded. This means that teammates have to co-operate with each other, following the strategies given by their coaches for a win to be recorded. Just as there would be substitute players and goalkeepers in football, baseball would also have substitute catchers, infielders and outfielders. Both sports have rules and regulations that govern the way the players should conduct themselves and the determination of the winner. The players have the technical team that holds the decision of who to feature in the starting line-up, who to substitute and coaching on the strategies to use so as to win. Football teams and baseball teams have owners and even at times share owners bet ween football and baseball clubs. For example, while having a shareholding in Arsenal Football Club, Stan Kroenke also owned the St. Louis Rams (NFL). Nonetheless, these two sports have distinctive features. First, in football, players would always attack the opposite team to prevent them from moving forward towards the goal. But in baseball, this would be a rare observation. While goals would be scored in football as the determinant of the winner, runs would be scored

Discussions 2 Essay Example | Topics and Well Written Essays - 500 words

Discussions 2 - Essay Example When they run off the road, its June Star who mentions that no one has been killed - yet. The reader knows the "yet" is inevitable when the three men get out of the car. In the grandmothers eyes Red Sammy is a "good man." This is why OConnor tells the reader so much about him because she wants to characterize the difference between a good man and a "bad man." This is the classic "good vs. evil" theme. There are only two references to Hiram in the entire story and they are both about him and his expertise of the car. He is not described at all other than saying he has a grey hat. A Narrow Fellow in the Grass -- it seems that she is using personification in that she is giving a snake in the grass the title of "boy." She also uses a lot of simile -- the grass divides with a comb (like hair is divided), the shaft of "hair" that is spotted. Another simile, "Unbraided in the sun" as the snake slithers away instead of being picked up. "A Narrow Fellow in the Grass" is a metaphor because she is actually talking about a snake and not a boy. She also uses imagery because we can see the scene she points out. Using phrases like the first paragraph where she points out that the grass parts and then closes -- the reader can see this happening. Also, the fact that she gets a little scared whenever she sees a snake, though she treats the snake with kindness. Wild Nights -- it seems that the writer is comparing wild desires (aka wild sexual desire) to the way that a ship at sea is thrown back and forth when the winds are highest. It is as thought her sexual desire (maybe she has had this happen before and wants a bit more) is as tempestuous as the sea. 6. Black poets -- all of these men wrote poems about what they believed in and what they understood. They had many references to slavery and to the plight of the black man. All of their poems are vibrant with passion and imagery. Langston Hughes always seems to make the reader see in similes. In "Let America Be America

Case Study On Managing Cultural Diversity Management Essay

Case Study On Managing Cultural Diversity Management Essay Is diversity good for business. The awareness of benefits from managing diversity is becoming more and more explicit during daily human resource management work. The diversity management is an important strategy of the human resource management which to promote the perception, acknowledgement and implementation of diversity in organization and institutions. It may lead to a common interest between employers and employees. The conflict associated with diversity management is inevitable according to its principal. On the other hand such collide would be regarded as a generator of new methods, viewpoints, interests, creativity and way of solving issues as well. Whether diversity is a potential performance barrier or a value-added action is determined by institutions policies. In the first part of this essay, what is diversity management, why it is essential and what would benefit from by organizations will be discussed. In the last part of the essay will analysis cultural change model and present approaches to diversity from practical case before conclusion. The human resource plans and policies are designed by the management to achieve some goal (Alexander Lewer, 1998), such as attracting, retaining and effectively making use of labor resources in all kinds of organizations, from profitable companies to education facilities, from government departments to supermarkets. As a strategy of human resource management, diversity management is a daily increasing perspective of tackling with impacts from employees with different background. Diversity is defined into two dimensions from peoples social and cultural identities. It refers to the ways people differ from each other. The primary dimensions described as peoples fundamental characters, such as age, ethnicity, gender, physical abilities, race and so on. The secondary dimensions refer to persons self definition via educational background, income, marital status, religious beliefs etc. Both of the dimensions may hold the same status of daily cultural impact on a multicultural organization. Cultural diversity is a specific area in diversity, which focus on peoples characters labeled culturally, including gender, age, ethnicity, race, and also lifestyle, immigrant status and language facility. Cultural diversity management is aimed at taking advantage of staffs different cultural background to increase their motivation and creativity, further to bring a successful close to strategy. Increasing diversity management can be a double-edging sword. Although the awareness of cultural diversity in workforce is becoming day by day better recognized by organizations, it is often effectively limited due to the passively abidance of legal compliance and human rights protection. Based on theory and research, inappropriate implementations can create barrier to high performance. Firstly, diversity can increase misunderstanding and conflict among employees from different cultural background. Compared with more homogeneous group, the former group may experience lower levels of social attraction and competitiveness. Secondly, too much diverse leads to harassment and discrimination behaviors. As different managers hold different opinions of managing cultural diversity, different approaches can be implemented. One of the simplest methods is avoiding diversity. However the reality is for most multinational organizations, it is not feasible. How to take advantage of cultural diversi ty without suffering enormous disbenefit is the main issue faced by employers. Another side of the diversity sword is that well managed diversity can catalyze the performance of organizations at different aspect, which means a value-added activity. First of all, well implemented approaches create an image of fairness and respect for all people which is an ideal working environment for staff. These terms are listed in formal statements of policy in every organization in the world, but unless the company has effective and ongoing strategies, those clauses are just another meaningless and hopeful fairy tale without princess. Whats more, employees from different cultural background diversify solutions of problems, decision making, skills and allocation of resources (Gardner Plamer, 1992), which can provide a larger pool of ideas and experiences. The organization can draw from that pool to meet Business strategy and the customers needs more effectively. And also provide individual talents, creativity and experiences (e.g. languages, cultural understanding) from div erse culture. This may allows a company to provide a global service to customers and also improve their marketing strategies. In addition, opinions from diverse cultural background enhance critical analysis in decision-making groups. In a series of research studies, Charlene Nemeth found that groups subjected to minority views were better at critically analyzing decision issues and alternatives than those that were not. The essay will analysis diversity using cultural change model (Taylor Cox Jr, 2001) in the next part. Model for Cultural Change Figure attached reveals a model for organizational implementations to tackle the impacts of diversity (Taylor Cox. Jr , 2001). Every element from this model should be considered as an effective organizational change. Following the flow of the arrows suggests, every element is influenced by the diversity and continually interacts with each other in the process of self learning. Leadership Leadership is a behavior that establishes an objective for improvement which provides a sense of urgency and importance for the vision. The orientation of change is also called vision. Meanwhile it also generates motivation of others, and brings an ideal environment for achievement of the vision. At the same time, a leader should be involved in vision, establish the adequate organization design and integrate the diversity management with the companys business strategy. It is absolutely the most essential element for change. As its vital role of a diversity change effort, leadership is on the top of the list while implementing diversity. Leaders are those who have influence with other members within the organization, such as CEOs, heads of unites of organizations or divisions, HR staff members with diversity assignments and head of labor unions. In order to achieve fully effectiveness of the implementations, the change should satisfy these conditions: (1) leadership starts at the executive; (2) it takes generations of administration to make the effort work, and (3) leadership should present directly without delegate. First of all, to be fully effective, leadership on diversity must start at the top. A change of presidents would produce a noticeable slow-down in progress toward the goals that were laid out for diversity excellence. Although other members of the leadership team below the CEO level, including the head of the HR function and several engineering managers, continue to work on the diversity change effort, the effort lost momentum that was never recovered. Secondly, it takes many leaders to achieve the final goal. In Alcoa, for example, a remarkable progress of cultural diversity owe to leaders at different levels of management chain. In 1999, the executive vice president George Bergeron included an assessment of progress on the diversity goals of the company as part of the incentive compensation formula for all managers reporting to him. Partly as a result of this action, the business units under his authority were all active in working the change model and achieved remarkable progress in the first year of work (Taylor Cox, 2001). Eventually, unless there is someone taking the responsibility of making change, the effort made to diversity would doom to failure. Research Measurement Research is a method of collecting data by which people solve problems about environmental element or phenomenon (Taylor Cox Jr, 2001). In the context of organizational effort on diversity, such problems are specified as: (1) gender distribution which regarded as a question about element and (2) whether an employees job performance is influenced by age is categorized as the relationship between elements. Measurement indicates approaches to record the effectiveness of diversity change. This part of model explains several questions of using data, including how to create criteria to implementation with data, how to use data to improve awareness of diversity, how to evaluate the environment for diversity and how to critic progress has been made. Take Alcoa as an example, there was a significant meeting of managing department in both business unit and resource unit, which regarded as a watershed event in leader commitment. Data presented on diversity of this meeting based on surveys and interviews at around five different locations of the organization. Some quotations were wrote down during the interviews with employees from every grade of job, and written on board and showed around the meeting room. Then the leaders walked around and read the messages, some of which approved to run counter to companys elemental values and policies. This is just a simple experience of using internal data, which became a motivate activity for forming support of the diversity effort at A lcoa. As is shown above, research and measurement are fundamental to the diversity management process, while using data to act on improvements means using data to increase commitment, enhance training, diagnosing the climate for diversity and measure progress (Taylor Cox Jr, 2001). Education Education refers to trainings and practices of any change effort. As a core feature of way to diversity, approaches of learning must diversified to fulfill its original purpose. Employees showed great conscious of diversity during the training period, many of which would not last long after training procedure. In order to deliver a remarkable education on diversity and collect better return from investment on diversity training, an educating design should based on certain ingredients: content, format and logistics, participants, and facilitation. Firstly, the content of training on diversity should be critical hence multidimensional. Each dimension is specified into different substance, for instance, to specify the required subtopics, to indicate the relationship among topics and to illustrate the type of the content. Secondly, the format and logistics of a diversity education are determined by time and approaches of the training. The effectiveness of training is not only influenced by the length of training period, but also affected by the way of using time. For example, instead of a one-day-six-hour exhausting boredom, a two hour well sequenced training program of three days is more effective and efficient. Thirdly, in the participant perspective, how large the trainee group, how many fields and levels of the employee, and the preparation for the participants should be considered before education. For example, a two-hour diversity education practice with an objective of simply understanding the business reasons of investing in diversity improvement was held by a division of General Motors. Based on a clear and narrow objective, and presented by a one-way communication, the training process was highly effective with the large group. Lastly, facilitation is the finial main element affecting education, including way to open and close the training, to handle with sensitive topic, and to create internal expertise. Alignment of management system Management system is the intermedium of managing, such as organizational policy, implement, regulation, or process. This covers main human resource practice, like recruitment, promotion, development, and even work conditions, or the physical design of working environment. These systems must interlink with one another as an organization is a social system. Before implementing alignment assignment, three components: time, space and people should be considered. To start with, time factor is the time which is scheduled for the work performance. It contains length of working period, use of overtime, time-off policies (holiday, leave and vacation), and retirement policies. What is fundamental and simple that, if a company has flexible time-off policies, it would be better to attract, retain, and motivate diverse employees. Muslim could decide whether or not work at their prayer time in a multinational company, and Chinese workers might enjoy their reunion with their families at Spring Festival. Whats more, space factors have to do with the physical working surroundings, including the neatness of working place, the barriers between different individual employees and so on. Eventually the people factor could be expended as recruitment, promotion, bonus, performance measurement, and career trajectories development and succession planning. People factors are designed to retain human resource and achieve the employment outcomes. As described in this chapter, there are large amount of issues in these three areas must be considered under the change for diversity. Nevertheless, any of them should not be tackled independently. Follow-up This factor contains adjusting the learning loop and establishing accountability for the results, so that the action processes become more and more accurate, hence the management system becomes more and more effective on diversity. In order to maintain effective and reasonable follow-up while changing towards diversity, a series of specific activities should be contained in the follow-up procedure, including make use of plan reviews, keep record, provide motivation for good behavior ,and control knowledge retention and transfer. In reality, Alcoa has a motivate reward plan provides bonus besides the base salary. Like many companys, the bonus reward on job performance is yearly issued. For higher-level managers, the bonus from holding stock might generate a fortune of hundreds of thousands of dollars for a CEO. Even middle-level managers would have tens of thousands of dollars according to their performance under the whole organizational strategy. It is a very practical but extremely effective incentive. When efforts towards diversity failed, it would be always traced back to poor following. When the following is poor, the whole orientation would collapse. Conclusion Based on Taylors cultural change model, which indicates a process of changing effort meeting the impacts from managing cultural diversity in a company, the way towards harmonious diverse workplace is brambly. Efforts should be made in each corner of the organization, from line worker to executive of division, from sales people to technical team and marketing staff, from London branch to Delhi branch. Diversity is based on certain intentions: labor force is the most valuable resource, every employee should be treated with respect and equality, and equal opportunities for people of all groups. In order to achieve diversity in organization or even country, it takes not only moral obligation to accomplish their orientation, but also generations of unremitting endeavor, hence the demand of building diversity organization is more than a requirement of maximizing business performance.

Character Analysis of Othello Essay examples -- Papers Shakespeare Ess

Character Analysis of Othello â€Å"Othello† is a tragedy and Othello is a tragic hero. Othello is a general in the service of Venice. He is good, courageous, brave and trustworthy. However he has some weaknesses such as insecurity; he is too open, naà ¯ve, and gullible, Iago plays on his weaknesses which brings about his downfall and he kills himself. This causes the suffering of innocent people like Desdemona, Emilia, Cassio and Roderigo. The audience also feel pity for Othello and this creates a sense of wastage at the end. Iago’s main aim is to bring about Othello’s downfall. He has many reasons for this, such as his anger as Othello rejected him for the post of lieutenant and he hates the fact that a black man has such a high position, who has the power to reject him. Iago’s plan to destroy Othello is mainly motivated by racism. He suspects that Othello slept with his wife. This play was written by Shakespeare in the 17th century. During that time, the attitude of the people towards the black people was negative. The black people were treated as lower class citizens. This play is initially set in Venice in the mid 15th century. The Venetians would also have treated them worse and differently. Shakespeare wanted to show the black character in a positive light and create sympathy for him representing him as a victim of racism to make a comment on his society. Shakespeare uses various dramatic devices in this play. This essay will explain to what extent racism contributes to Othello’s downfall. Act 3 scene 3 is important because this is the scene where the character of Othello changes. Before this scene, Shakespeare has already ena... ...on as a result of Othello’s insecurities, such as jealousy. It could also be argued that these insecurities are caused mainly by the racist society. Which at its heart it is racist and sees him as an outsider as this play is set on Venice. It is not just Iago who refers to him as a moor. â€Å"I am one sir†¦Ã¢â‚¬ ¦ moor are now making the beast with to backs†. But Brabantio also says that â€Å"Look to her, moor, if thou†¦Ã¢â‚¬ ¦ and may thee†. Othello also recognises this as a possible reason for Desdemona’s infidelity. â€Å"For haply I am black†¦Ã¢â‚¬ ¦Ã¢â‚¬  However there is one other consideration to take into account Othello acts with reason, rather then emotion when he decides to kill Desdemona; He still loves her. But his need to be in control is stronger in the end. He feels that his duty is to kill her. Finally both the factors are to be blamed.

Journal Critique By Harsha Sooka

The introduction of the article starts off with why the study was conducted, due to the discovery of causality amongst patients who had used gadolinium based contrast agents. Nephritic Systemic Fibrosis (NSF) was the disease caused by the use of the gadolinium based contrast agent. Once again the introductions lacks literature on what this disease actually was or how the gadolinium based contrast agent caused it. The Introduction then goes Into the history of the different contrast agent and non-contrast agent magnetic assonance angiography methods.Then towards the end of the Introduction the alma of the research that was conducted was mentioned, which Is a good idea as It brings the reader, back in to understanding as to why the research was conducted. Moving on to the next part which is the methods which was explained by the authors in much detail as to what they exactly did to study the different patients, what ages and sexes of patients that took part in the research and how the research was in line with the ethics and law.Which is in fact a good start which to the methods, which shows the reader that the research was conducted ethically and according to law. The methods then go into how the study was compared with deferent sequences which are AD OTF and a TRANCE covering the kidney and pelvic vessels, a AD OTF, a AD PC and a AD B-SSP covering the aortic bifurcation and pelvic vessels. The authors also mentioned what was outcome that was to be compared and also one type MR.. Machine that was used In the whole study (Phelps 1.T Cochlea). The results contained the outcomes of the study, which were the quality of the image from the different sequences and also the factor of time taken for each of the sequence. Which was placed in tables and images and used to compare the discussion part of the article and towards the end of the result paragraph all the sequences were ranked according to all evaluated parameters. The end of discussion touched limitations and al so gave advantage of using non-contrast enhanced magnetic resonance angiography.The conclusion finishes off with the explanation as to how the authors are positive that Non-contrast enhanced MR.. Offers a safe preoperative examination for assessment of pelvic vessel status before kidney trans- plantation without any risk of NSF, nonprescription or radiation. They also lastly touched as to which of the sequences were recommended and how Important It was do prevent such complications caused. This Is a nice short and simple paragraph that does have a strong effect on the reader as to how their aim was successfully achieved and how

What is Hypnosis Essay

What is Hypnosis Essay What is Hypnosis Essay Gregory Tickner What is Hypnosis? 1847 words Sylvia Jarrett Maidsis14 Hypnosis is not a new thing by any standard. Hypnosis is a physical as well as mental state of relaxation, an altered state of consciousness into which individuals allow themselves to enter so that desired, beneficial suggestions may be given directly to the subconscious mind. Hypnotherapy is the use of hypnosis to achieve an agreed or required outcome. Hypnotherapy is thought to date back to the healing practices of ancient Greece and Egypt. Many religions such as Judaism, Christianity, Islam, and others have attributed trance-like behaviour to spiritual or divine possession. Austrian physician, Franz Mesmer is credited with being the first person to scientifically investigate the idea of hypnosis and hypnotherapy in 1779, he used it to treat a variety of health conditions. Mesmer is believed to have been the first doctor to understand the relationship of psychological trauma to illness. He induced a trance-like state, which became known as mesmerism, in his patients to successfully treat nervous disorders. Mesmer became interested in the effects of magnetism, and found that magnets could have tremendous healing effects on the human body. He believed that the human body contained a magnetic fluid that promoted health and well-being. It was thought that any blockage to the normal flow of this magnetic fluid would result in illness, and that the use of the mesmerism technique could restore the normal flow. Mesmer's technique appeared to be quite successful in the treatment of his patients but he was the subject of scorn and ridicule from the medical profession. Because of considerable controversy surrounding mesmerism a commission was convened to investigate his techniques and procedures. The commission acknowledged that patients did seem to obtain noticeable relief from their conditions, but the whole idea was dismissed as being medical charlatanism. In the 1840’s James Braid discovered that hypnosis could be used to successfully anesthetize patients for surgeries. James Braid accidentally discovered that one of his patients began to enter a hypnotic state while staring at a fixed light as he waited for an eye examination to begin. Since mesmerism had fallen out of favour, Braid coined the term hypnotism, which is derived from the Greek word for sleep. Braid also used the techniques of monotony, rhythm, and imitation to assist in inducing a hypnotic state. We still use many of these techniques today. Around 1900, there were very few preoperative anaesthetic drugs available and patients were naturally apprehensive when facing surgery. One out of four hundred patients would die, not from the surgical procedure but from the anaesthesia. Doctor Henry Munro was one of the first physicians to use hypnosis to alleviate patient fears about having surgery. He would get his patients into a hypnotic state and discuss their fears with them, suggesting to them that they would feel a lot better following surgery. Ether was the most common Gregory Tickner anaesthetic at that time, and Doctor Munro found that he was able to perform surgery using approximately 10% of the usual amount. It took more than two hundred years for hypnotherapy to become incorporated into medical treatment. In 1955, the British Medical Association approved the use of hypnotherapy as a valid medical treatment. Throughout History there has been much concern around Hypnosis, Hypnotherapy or being in a Hypnotic state, this is largely down to its misuse as entertainment or in stage shows where people are often â€Å"hypnotised† into doing something embarrassing or against their will. Some of the most common causes of concern are whether the Hypnotist can take control of the body or mind, that the subject may reveal something which they did not wish to or that they may be lost in the trance or that the Hypnotist may not be able to return them from it. With the key to Hypnotherapy being to have a

Brilliant Lies essays

Brilliant Lies essays Truth is the real casualty in Brilliant Lies. Do you agree? The truth, in its complete and untarnished form, is undoubtedly the ultimate victim in Brilliant Lies. The truth is rarely heard from Suzy. Her perception is coloured by her unrealistic vision of the way her life should be. Katy on the other hand sees the truth in its full realism due to her sexual preferences, which has made her look not only into herself, but to see others in a different light. Paul sees the world through Christian eyes, which sometimes can warp opinions, and Brian tells a heavily filtered version of the truth, sanitizing and glamorizing facts. The aggressive Gary Fitzgerald has a perception of the truth, which is greatly influenced by his wife and her family. The truth is a greater victim in this story than Suzy. Through the ages truth has always been held in high esteem. Whether it be in the bible or in constitutions, upholding the truth is of up most importance. The truth can make or break the character of a person. The way they use the truth tells a lot about the character of a person. When the truth is forgotten to line ones own pocket it can become the unrecognized victim of egos and self-centered activity. Suzys misuse of the truth is a prime example of this. Suzys insatiable appetite for money and her relationship with her sleazebag father has coloured her view of the truth greatly. The vision Suzy has for herself and her lifestyle revolves around sex and money. Give one and get the other! For years this saying has been such a great part of her life that it has become almost a habit to live on easy street. She has always been supported financially, either living off her father or fooling herself into having a series of deep and meaningfuls with the half-dozen or so wealthy unmarried heterosexual men in the city. Her female ways have always won her first prize and to be sudd ...

Various aspects about World War II Assignment Example | Topics and Well Written Essays - 1750 words

Various aspects about World War II - Assignment Example He pretended that the Aryans (Germans) are superior to other people in the world and they have the right to rule the entire world. During Hitler’s period, Jews were the prominent community in the world because of the immense contributions they have given to the world in the form of scientific discoveries and other political and sociological aspects needed for the advancement of human civilization. Hitler’s blind and revenging attitudes towards Jews community have forced him to perceive everything against his views as the contributions of the Jew’s community. Moreover, Hitler believed that communism and democracy were the contributions of the Jew’s community and encouraging this political system will destroy the true values of the people. Many of the prominent scientists and world leaders were of Jewish origin which was not acceptable to Hitler. Hitler thought that the Germany’s lost lands during the previous wars were occupied by Jews and he has sta rted the war against the Jews. â€Å"The Nazis basic intent was to make survival for the Jews more difficult and to create a loss of identity for the Jews. The Nazis occupying the towns asserted that the consequence of dissension was severe punishment or death† (LEBENSRAUM: LIVING SPACE FOR THE GERMAN RACE) Communism and democracy argue for equality rather than domination which were unacceptable to Hitler. In his opinion, communism and democracy were the means of spreading corruption. He has rejected the political systems like judiciary, parliament, and executive like entities and argued that these systems were in place in order to save the corrupted people from punishments. Hitler believed that only through dictatorship, corruption can be eliminated and a country can grow further. In a famous speech Hitler once declared that "We want to liberate Germany from the fetters of an impossible parliamentary democracy — not because we are terrorists, not because we intend to gag the free spirit. On the contrary, the spirit has never made themselves its master" (Brundage) Lebensraum was another major reason for the Nazi expansion into its neighbouring territories and the subsequent WW 2. The meaning of the word ‘Lebensraum’ is living space. Hitler believed that the Germans are living without enough space in Germany even though they were the major race in the world. Adolf Hitler considered Aryans race as the ancestors of Germans and he believed that Aryans are far superior to other races in world. It was not tolerable for him to accept the fact that the Germans/Aryans are living without enough living spaces in Germany. Hitler accused that some of the lands controlled by other countries near the boundaries of Germany actually belong to Germany and he has demanded a territorial revision of lands. He was of the opinion that Germany has lost many of its territories to neighbouring countries in previous wars which needed to be regained. He has gat hered support from the German people to expand German territories using his mesmerising speeches in which he made the German people aware of the shame of living as slaves. The Treaty of Versailles signed in 1919 to end the WW 1 was a shock treatment for to the German pride. This treaty put the entire blame on Germany for causing WW 1 and asked Germany to pay heavy amounts as compensation. Moreover, Germany forced to sacrifice some of its land