Nur 405

Family Nursing Diagnosis The O’Campo family is made up of a husband Danilo and his wife Lydia. They were born in the Philippines and came to the USA when Lydia was 20 and Danilo was 23 years of age. They suffered through the death of their son Emilio who died from an automobile accident at the age of 22. Although this was traumatic for them they recovered from the trauma. Now they find themselves enduring the hardships of aging. Danilo 74 has severe cardiac problems, and Lydia 69, is suffering from dementia and Alzheimer’s disease. Danilo is Lydia’s primary caregiver.One night Lydia falls at home and breaks her hip, and requires an admission to the hospital for surgery. The admission doesn’t result in improvements, and she deteriorates, and becomes more confused. Danilo also begins to deteriorate as well, because he is neglecting himself. Lydia is eventually discharged from the hospital and sent to a rehabilitation hospital for physical therapy. They start ed her on a routine and she did rather well and was sent home. Their grandniece Kristina received them and was taking care of them and their house in-between semesters for school.When Kristina left, Lydia got worse, she began to sleep walk in the middle of the night. Danilo was unable to keep with her due to his CHF, and had a heart attack, he died at the hospital. Lydia was then transferred to a nursing home, her health continued to deteriorate and she passed away shortly after her husband. Nursing diagnosis are a part of the nursing process and is a clinical judgment about individual, family, or community experiences/responses to actual or potential health problems/life processes.Nursing diagnoses are developed based on data obtained during the nursing assessment portion of the nursing process. A nursing diagnosis that is appropriate for this family is, Interrupted family process related to family role shift. Mr. O’Campo was the sole caregiver to his wife Lydia, however sin ce her hospitalization he was forced to give up some of his duties as a caregiver to the hospital staff. As a result his wife Lydia became more confused, and combative towards those whom she was not accustomed in dealing with on a daily basis, and because she was taken out of her routine with her husband.Another nursing diagnosis that is appropriate to the O’Campo family is caregiver role restraint related to apprehension about care receiver’s health and caregiver’s ability to provide care. Lydia’s hospitalization has caused a lot of strain on the health of Danilo. His cardiac and respiratory statuses have deteriorated significantly due to him neglecting his own health. The last nursing diagnosis that would apply to the O’Campo family, Danilo specifically would be non-compliance related to lack of taking care of himself.As a result Danilo deteriorated quickly and lacked to take the appropriate measures of seeking medical attention quickly, and in t urn decided to self-treat himself. In Healthy People 2020 they discuss some of the important tips to help the elderly with dementia and Alzheimer’s. Some of the suggestions include, increasing the availability of existing effective diagnostic tools. Increasing awareness will in turn decrease the number of people with undiagnosed dementia. There are breakthrough treatments and new research studies assisting in reducing the severity of symptoms through better medical management.Providing more support to family caregivers with social, behavioral, and legal resources. The caregivers should encourage healthy behaviors to reduce the risk of co-occurring conditions. Danilo had a structured routine for Lydia. He tried to do the same things with her at the same time every day, to minimize, confusion and altered behaviors that may be risky to her and Danilo as well. There are so many resources available to Alzheimer’s patients and their family. The Alzheimer’s Association is a leading voluntary health organization for Alzheimer's disease for Alzheimer's care support and research.Caring Bridge is a nonprofit organization providing free websites that connect family and friends during a serious health event, care and recovery. A Caring Bridge website is personal, private and available 24/7. It helps ease the burden of keeping family and friends informed. The websites are easy to create and use. Authors add health updates and photos to share their story while visitors leave messages of love and support in the guestbook. Children of Aging Parents (CAPS) is a non-profit organization that assists caregivers of elderly of chronically ill individuals with reliable information, referrals and support.

Icu Case Study

Case Study A 45 year old male was admitted to ICU following an exploratory laparotomy which showed a ruptured appendix and peritonitis. The procedure began as a laparoscopic cholecystectomy but the initial finding was pus throughout the peritoneal cavity and a normal gallbladder. An open exploratory laparotomy where a ruptured appendix was discovered which was removed and a washout was performed. The patient had a two day history of abdominal pain prior to his admission through A&E. He had no previous medical or surgical history. The patient smoked 20/day and drank alcohol at the weekends.Once admitted to ICU, he was intubated and ventilated on bilevel ventilation and sedated with propofol and fentanyl. In theatre he received two litres of hartmanns solution as a fluid load, however in ICU was commenced on maintenance of normal saline at 100mls/hr. Feeding was ruled out on admission as it was thought that the patient would have extubated the following day. However, the patient was in ICU six days prior to extubation, therefore TPN was commenced. Noradrenaline was used for a MAP above 70mmhg rather than a fluid load. The patients clinical scenario was more in depth as outlined above.However, these are outside the scope of this case study. The medical and nursing interventions discussed in this assignment is mechanical ventilation, total parental nutrition and vasopressors. Mechanical Ventilation Bilevel ventilation is a relatively new setting. (Mireles-Cabodevila et al, 2009) The ventilator maintains a high pressure setting for the bulk of the respiratory cycle, which is followed by a release of low pressure. (Mireles-Cabodevila et al, 2009) The release to a low PEEP is the expiration phase and aids the elimination of CO?.The release periods are kept short to prevent derecruitment of alveoli and encourage spontaneous breathing. (Mireles-Cabodevilla et al, 2009) The advantages of bilevel include an increase in mean alveolar pressure with recruitment, haemodynamic and ventilatory benefits and reduced sedation requirements. (Putensen et al, 2006) Analgesia and sedation is not only used for pain relief and anxiety but for mechanical ventilation comfort. (Putensen et al, 2006) This level can reduced to aim of a Riker of 4, which a co-operative, responsive patient. Putensen et al, 2006) This reduces the need for more vasopressors to maintain a stable cardiovascular system. (Putensen et al, 2006) When first admitted the patients ventilatory settings were: FiO2 0. 4 Rate 12 HiPeep 22 LoPEEP 5 PS 10 CXR showed bibasal atelectasis/consolidation ABG – pH 7. 43 paCO? 33 paO? 74 HCO? 23 BE -0. 5 The pH is within normal limits, on the lower end, i. e. between 7. 35 – 7. 45. Therefore it is normal/alkalotic. The paCO? indicates an alkalotic range. This is used to assess the effectiveness of ventilation. (Coggon, 2008) PaO? is 74, which is low as normal range is 80-110, which shows hypoxemia.PaO? is not interpreted in the patients acid-base status but indicates O? binding to haemoglobin. (Coggon, 2008) The HCO? is normal. The next step is to match the CO? , HCO? to the pH. The CO? and pH is on the alkalotic side of normal. Therefore it shows a respiratory disturbance. (Woodruff, 2009) The next step is to see if either compensation is occurring. To do this, the interpretor must look to see if either the CO? or HCO? go in the opposite direction of the pH. In which, in the ABG above, you can clearly see that it does although the HCO? is within normal range, which means no compensation is occurring. Woodruff, 2009) The full diagnosis is uncompensated respiratory alkalosis with hypoaxemia. The patient is more than likely hyperventilating with poor gas exchange in view of the CXR. In response to this ABG result ventilatory setting were changed to: FiO2 0. 4 Rate 8 HiPEEP 22 LoPEEP 8 PS 14 ABG post setting change – pH 7. 39 paO? 103 paCO? 36 HCO? 22 The rate was changed as the patient was blowing off too much CO? with the rate of 12 plus any spontaneous breaths he was doing. The patients chest was rotten with a productive secretions and bibasal consolidation at the bases, seen in a repeat CXR.Suctioning resulted in moderate to large amounts of white sputum. The patients wife stated that he had been suffering from a cold for one week prior to admission. Therefore an increase in PEEP (Hi and Lo) was required to recruit the alveoli and aid in good gas exchange. (Dellinger at al, 2007) It is recommended that positive end expiratory pressure is set to avoid extensive lung collapse on expiration. (Dellinger et al, 2007) Maintaining pressure and spontaneous breathing resulted in an increase in arterial oxygenation and helped prevent a deterioration in pulmonary gas exchange. Putensen et al 2006) Studies have been carried out to determine whether high PEEP increases patients outcomes. These include the ALVEOLI study and the Lung Open Ventilation (LOV). These studies do not show an improvement on mortalit y with the increase in PEEP however show a decrease in days on the ventilator. (Mercat et al 2008) The patients right side was worse than the left on the CXR and auscultation. Therefore he was being positioned right side up and his back on pressure area cares. Repositioning patients not only protects the patients skin but it also improves gas exchange and decrease the risk of ventilator acquired pneumonia. Deutschmann and Neligan, 2010) Positioning the patient with the good lung down may improve paO? and aid in the drainage of secretion. (Deutschmann and Neligan, 2010) Elevating the head of the bed also aids recruitment of alveoli at the bases and again decreases the risk of ventilator acquired pneumonia. (Deutschmann and Neligan, 2010) All of the above interventions by nursing and medical staff were to improve the patients outcome and aid extubation once the patients chest improved and any other factors affecting the patients ability to self-ventilate. Total Parenteral NutritionIt is seen as appropriate time-scale of 1 – 3 days that surgical patients commence normal diets. (Braga et al, 2009) As the patient was intubated and ventilated, no feeding was commenced until day three. The main goal of nutritional support is to avoid starvation in the aim to support post-operative recovery, and maintain the patients normal body functions. (Braga et al, 2009) Malnutrition decreases patients outcomes within the critical care setting. (Artinian et al, 2006) Total parenteral nutrition (TPN) was commenced at 40mls/hr as per the ICU Dr's orders.The dietician reviewed the patient and suggested the goal rate was 81mls/hr, which the feed was slowly increased to over two days. this is because of the risk of referring syndrome. Refeeding syndrome is ‘a syndrome consisting of metabolic disturbances that occur as a result of reinstitution of patients who have been starved or malnourished. ‘ (Shils et al, 2006) The medical and nursing team must keep a close eye on the patients bloods. Although this is standard practice with all patients in ICU. Refeeding syndrome can cause a multitude of complications including, neurological, pulmonary, cardiac and hematologic. Assiotisa and Elenin, 2010) The use of the dietician greatly reduces the risk of over-feeding. (Ziegler, 2009) However, the consensus is the patients are underfed as medical teams are conservative in their approach of prescribing rates. (Faisy et al, 2009) Although the dieticians are heavily involved in the ICU that the patient in this study is, recent studies have shown that this is a good standard of care, as this helps doctors and nurses focus on early nutrition prescribed at the correct rate. (Faisy et al, 2009) The most used formulae used to predict goal rate is 25/kcal/kg ideal body weight. Braga et al, 2009) However in intubated patients, there is a fluctuating in ‘resting energy expenditure' due to the use of sedatives, analgesics and vasopressors causing confusion ove r energy given and uptake. (Faisy et al, 2009) The bag of TPN the patient had is ?. This is appropriate as patients requiring TPN need a full range of vitamins and trace elements daily. (Braga et al, 2009) Enteral nutrition is widely used in ICU due to the increased risk of TPN induced catheter-related sepsis, cost and multi-organ failure. Faisy et al 2009) However, surgical patients are less likely to receive enteral nutrition compared to medical patients. (Elke et al, 2008) Previous studies investigating critical ill abdominal surgical patients suggested that early feeding is beneficial. (Artinian et al, 2006) Nevertheless, another report suggested it did more harm than good, resulting in an increase of infections. (Artinian et al, 2006) The current recommendations, is that patients whom are expected to commence a normal intake should be started on parenteral nutrition. Singer et al, 2009) The patient who was still sedated and ventilated at this stage falls under the recommendatio ns. His bowel sounds were scant and he did not have a bowel motion since admission. The surgeons were reluctant to commence feeding with the absence of bowel sounds. This is due to the fear of a paralytic ileum as peritonitis may cause this. (McClare et al, 2009) It is now acknowledged that gentle feeding may restore gut mobility and is recommended for early management. (McClare et al, 2009) The lack of sound evidence based practice results in a need for future studies on post-operative feeding. Lownfels, 2008) While the patient is on TPN, an insulin protocol in in place to monitor blood sugar levels second hourly and adjust insulin as required. There is a high risk of hyperglycaemia due to insulin resistance when the body is under increased stress. (Braga et al, 2009) Therefore close glucose control is of benefit to the patients outcome in the ICU setting, including fewer infectious episodes and lower mortality. (Braga et al, 2009) A central line or another type of central access i s recommended for the administration of TPN, as it can irate the veins in peripheral access. Singer et al, 2009) A study performed about the reliability of central venous lines and PICC lines came to the conclusion that the number of infections was the same, nevertheless, phlebitis and thrombus occurred more frequently in the PICC lines. (Singer et al, 2009) Feeding the patient is a complicated process and a close eye on the patient is needed is pick up on complications that may occur during the feeding regime. Once the patient was extubated. , he remained drowsy for a day and a half. Ammonia levels were done and these came back high. The TPN was stopped and the patient's mental status slowly improved.The patients LFT's were normal. Vasopressors The patient is also being treated for an abdominal infection and community acquired pneumonia. Septic shock is defined as an inflammatory response syndrome with a mean arterial pressure (MAP) of 70mmhg. Other factors affecting the cardiovasc ular system include sedatives. (Ray and McKeown, 2007) Therefore the systemic infection and sedatives are contributing to the patients low blood pressure. Vasopressors and intropes are used when volume replenishment is not able to adequately increase blood pressure or with this patient fluid resuscitation is not considered (as he already had 2000mls of luid intra-operatively). (Morrell et al, 2009) Sufficient fluid loading is recommended prior to vasopressor use to try and stabilise the patient with septic shock. (Dellinger et al, 2009) Vasopressor therapy is used to maintain tissue perfusion in the event of critical illness. (Dellinger et al, 2007) Perfusion is reliant on pressure and control of vascular beds are inevitably lost when mean arterial pressure falls below a certain point. (Dellinger et al, 2007) Within the unit the patients are treated with norepinephrine (noradrenaline), which is the drug of choice when treating shock induced hypotension.This is because norepinephrine is a potent drug and is very effective at treating hypotension compared to other drugs. (Dellinger et al, 2007) Norepinephrine is an ? -adrenergic agonist and has some ? -adrenergic effects. (Urden et al, 2006) Noradrenaline is naturally released by nerve cells, producing the fight or flight response within the body. (Urden et al, 2006) This would normally produce an increased heart rate, increased blood pressure, dilated pupils, dilate air passage in the lungs and narrowing of blood vessels in non-essential organs, which aids the body in coping under stressful situations. Urden et al, 2006) The alpha receptors are found in muscle tissue, therefore by stimulating these receptors, noradrenaline causes the muscles to contract resulting in narrowing of blood vessels. (Urden et al, 2006) This means that an increase in MAP and systemic vascular resistance with little alteration in heart rate and volume output. (Morrell et al, 2009) Intravenous infusions of noradrenaline at low doses has been reported to increase blood pressure, urinary output and creatinine clearance, resulting in an aid to overall decreasing vasopressor therapy. Morrell et al, 2009) However, as with most drugs, side-effects of high doses of vasopressors, which include headache, bradycardia, hypertension, and inadequate blood flow leading to low levels of oxygen in extremities. (MIMMS, 2011) Studies involving small doses of vasopressin show an improvement in blood pressure over a small period of time. (Russell et al, 2008) The titration of noradrenaline is the nurses responsibility once the doctors order the aim MAP. (Brown and Edwards, 2008) An important part of nursing care is comprehensively assessing the patient receiving vasopressors. Brown and Edwards, 2008) These must include, urinary output, consciousness (if able), colour, temperature, pulses of the extremities, heart rate, blood pressure, signs and symptoms of myocardial schema. (Brown and Edwards, 2008) Titration of the drug is based on current observations. An important aspect to consider when using vasopressors, is to treat the cause of the shock. (Dellinger et al, 2009) This aids in recovery the the decreasing usage of invasive procedures. The use of noradrenaline on the patients improves his oxygenation and outcomes through this acute illness.The main objective is to improve oxygenation and noradrenaline has an impact on oxygenation by increasing preload, leading to an increased cardiac output. It also has an impact on cardiac contractility, which increases the force ejection thus allowing the heart to over come any increase in afterload caused by the vasoconstriction. (Urden et al, 2006) The increase consumption of oxygen, oxygen consumption increases. (Brown and Edwards, 2008)This is due to the hypermetabolic rate the critical ill patient is under.Caring for critically ill patients requires an in-depth knowledge on bodily systems and functions. Within the ICU environment, hierarchy of nurses which range from junior to senior. This exists to aid growth within the junior members of staff, as continuing education is important. As the above case study shows, numerous problems need to be addressed throughout the care of the patient. As only three issues have been addressed, this only illustrates a small insight into the scope of care the patient received. References Mercat, A. t al, (2008) Positive End-Expiratory Pressure settings in Adults with Acute Lung Injury and Acute Respiratory Distress Syndrome: A Randomised Controlled Trial. JAMA, 6: 646-655 McClare, S. A. , et al (2009) Guidelines for the provision and assessment of nutrition support therapy in the adult critical ill patient: Society of Critical Care Medicine and American Society for Parenteral and Enteral Nutrition, JPEN, 33: 277-316 Lownfels, A. B. (2008) Recovery after abdominal surgery: Is enteral feeding preferable? A best evidence review. http://www. medscape. org/newarticale/568983 Shils, M.E. , et al (2006) Modern nutritio n in health and disease, 10th edition, Lippincott Williams and Wilkins, Baltimore Assiotisa, A. , Elenin, H. (2010) Implications of refeeding syndrome in post-operative total parenteral nutrition. http://www. grandrounds-e-med. com/articles/gr100013. htm Deutschmann, C. S. , Neligan, P. J. (2010) Evidence-Based Practice of Critical Care, Saunders, Philadelphia Coggon, J. (2008) Arterial blood gas analysis: Understanding ABG reports. Nursing Times; 104: 18, 28-29 Woodruff, D. (2009) 6 Easy Steps to ABG Analysis. http://www. Ed4nurses. com Faisy, C. et al (2009) Impact of energy deficit calculated by a predictive method on outcome in medical patients requiring prolonged acute mechanical ventilation, British Journal of Nutrition, 101, 1079-1087 Singer, P. , et al (2009) ESPEN Guidelines on Parenteral Nutrition: Intensive Care, Clinical Nutrition, 28, 387-400 Braga, M. , et al (2009) ESPEN Guidelines on Parenteral Nutrition: Surgery, Clinical Nutrition, 28, 378-386 Antinian, V. , et al (2006) Effects of early enteral feeding on the outcome of critically ill mechanically ventilated medical patients, CHEST, 129, 960-967 Elke, G. et al (2008) Current practice in nutritional support and its association with mortality in septic patients – Results from a national, prospective, multicenter study, Critical Care Medicine, 36, 1762-1767 Putensen, C. , et al (2006) The impact os spontaneous breathing during mechanical ventilation, Current Opinion in Critical Care, 12, 13-18 Mireles-Cabodevila, E. , et al (2009) Alternative modes of ventilation: A review for the hospitalise, Cleveland Clinic Journal of Medicine, 76, 417-430 Morrell, M. R. , et al, (2009) The Management of Severe Sepsis and Septic Shock. Infec Dis Clin N Am, 23, 485-501 Ray, D. C. McKeown, D. W. (2007) Effect of induction agent on vasopressor and steroid use, and outcome in patients with septic shock. Critical Care, http://www. ccforum. com/content/11/3/R56 Russell, J. A. , et al, (2008) Vasopressin vee rs Norepinephrine Infusion in Patients with Septic Shock, The New England Journal of Medicine, 358, 877-887 Brown, D. , Edwards, H. (2008) Lewis's medical-surgical nursing: Assessment and Management of Clinical Problems, 2nd edition, Mosby, China Urden, L. D. , et al, (2006) Thelan's Critical care Nursing: Diagnosis and Management, 5th edition, Mosby, China MIMMS (2011) http://www. mimms. com. au

Models and Experts write up Assignment Example | Topics and Well Written Essays - 500 words

Models and Experts write up - Assignment Example It is worth acknowledging the fact that this model has various instructions at each and every level that directs the student as well as the person in charge of the admissions. The person I charge is guided by the model on the right ways to approach the student during the exercise and on the ways to give pieces of advice while to the student the model gives the students the various options to choose from when the preferred options fails (Trost 2011). Considering this kind of model, it can be clearly seen that it is more of the marketing models. The reason behind this is the fact that most of the marketers do involve themselves in the market analysis. Under the analysis the factor or the model that they employ is the SWOT analysis. This is where the marketers do check their strengths, weaknesses, the available market opportunities and then they test on the possible threats in the market (Trost 2011). In this kind of strategy, the admissions will also ensure that they identify the students’ various areas of weaknesses. After this, they will be able to handle the student in a manner that is quite ideal for that kind of student. This is like identification of the potential market thereby knowing their demands, tastes and preferences. The persons doing the admissions will similarly do this and put the student in the right classroom of study (Trost 2011). It is important to highlight that a student in the right classroom is a very important factor to consider when making any form of student admissions. In one of the researches that were conducted, it was noted with a lot of concern that a student in the right class performs well and is not mentally disturbed in any way. From the research, it was noted that 805 of students who perform well are in the right class, 60% also perform well and these follow the instructions given to repeat, 10% who are forced by parents to be promoted do not excel while 20% who are forced to repeat also do not

Managing Organisations Business Assignment Example | Topics and Well Written Essays - 1000 words

Managing Organisations Business - Assignment Example This calls for very skilled managers that are well aware of their roles. The following is an account of my experience with a manger in a banking institution. The Experience (278 words) I was working with a bank in the UK. As a customer care officer, I had many experiences with the customers as well as the bank manager. Though this company was successful, I still believe that it could achieve even more success if the manager did not face the many difficulties that he was facing in his work. The company could hardly match its ideals with the realities of each day, meetings were poorly planned and recorded, decision making was arbitrarily done, there were inadequate control procedures instituted, and no clear ways of dealing with unsatisfactory behavior or work performance. However, the manager worked very hard to ensure that these problems were appropriately dealt with. Therefore, he started having trust and confidence in all those involved in the company. As Thomas, (1987, pp 729) sta tes about qualities of a good manager, I believe he was a good manager because he was good in both personal and interpersonal skills like communication with the staff. Other skills that he applied were people oriented roles like teamwork, resource investigation, and co-ordination. He observed action oriented roles like implementing the desired goals of the company. ... Integrating Theory with Experience (342 words) According to Mintzberg (1973, pp 2), a good manager observes the following managerial roles: information, decision and interpersonal roles. Information roles involve assimilation and dissemination of information as required, and when it is required. Therefore, a good manager in an organization should be very effective in monitoring and collecting information from inside and outside the organization, communicate information to organization’s members, and being a spokesman by representing the organization outside. In this case, I believe that the manger was playing a good role because he always engaged in interpersonal and personal communication with the staff. However, his representation of the organization outside, especially to potential customers, was very poor because he mainly relied on the salespersons. The theory of Mintzberg (1973, pp. 2) also states that a good manger should also play the role of decision making. In this a rea, he has to initiate new ideas that ill improve the performance of the organization, handle disturbances by taking corrective actions that aim at coping with adverse situations, be a resource allocator by effectively allocating monetary, physical, and human resources. Finally, he should also be a negotiator. This involves negotiating with other stake holders and trade unions. Though the manager was good at initiating new ideas, he failed on the part of handling disturbances because he always blamed others incase of a problem instead of effectively solving the problem. He rarely negotiated for the company with trade unions. Thus regular strikes were experienced that yielded heavy losses. However, he was a

Antigone Research Paper Example | Topics and Well Written Essays - 1500 words

Antigone - Research Paper Example However, King Creon believes that the laws are made by man and men are the only people who can change the laws. The major challenge affecting both the two protagonists is the personal pride making their stance known and not wanting to back-down. One important issue to be addressed is that the both share almost same idea, but different view. Oedipus was to become king by killing his father Laius, which happened on his way to visit the town. The tragic death of his father is outlined in the prophecy preceding the play. It outlines the issues that affect relationships in the play thereby enabling the reader to understand the role of incest in shaping the character of the main issues. The development of female heroism is depicted in the play by the actions of Antigone. Heroism and feminism has been in conflict over the years until in the last two decades. The factors that influenced the inclusion of women as action heroes include the rigid nature of the feminist agenda, feminism ideologi es of the 20th century and the role of women in the society (Wilmer & Zukauskaite, 2007, p. 45). The concept of heroism is borrowed from the ancient Greek mythology which creates personality who is immortalized. From the analysis of the play, the heroism depicted is antagonistic heroism because there are two main characters namely protagonist Antigone versus Creon. The antagonistic heroism is displayed in various traditional and modern literatures including the Harry Potter Series. Side kick heroes support the main hero. In the case of Antigone, there is no side kick hero, but only the antagonistic hero. However, some antagonistic heroism may lead to tragedy as depicted in the story of Antigone and Creon which shows the desire for freedom and social guidance (Wilmer & Zukauskaite, 2007, p. 125). In addition, the relationship and desires of the two main characters shapes the development of the story. The principles of choice and the lack of flexibility to accommodate the views of oth ers indicate the power of dictatorship and authoritarian regime. Creon refuses to accept the beliefs of Antigone and uses his authority to infringe on the rights of Antigone leading to tragedy. However, crisis in the play is presented at the start of the play, when Oedipus kills his father and ascends to power. The tragedy comes when he ascends to power and marries his mother. The life of Oedipus is complex because it marked with several challenges including being tied and thrown away in order to prevent the prophecy to occur. He is the son of King Laius and Queen Jocasta, but later married his mother. The realization of the tragedy of incest leads to death of the queen because she commits suicide after knowing the truth. Oedipus kills his father during a disagreement along the road. In addition, he kills Sphinx making him a darling for the people of Thebes. The reward for the win and following the death of King Laius, Oedipus is given the throne leading to the interaction with the queen (Sophocles, 2008, p. 1117). Final draft Literary Analysis: Antigone The story of Antigone is based on prophetic issues and the decision of main protagonists in the play. Antigone and Creon are the main protagonists of the play based on the belief and pride. The play is based on the trust and tradition of the people of Thebes. In fact, the major challenge is on the burial of Polyneices, the challenge is based on the laws to respect. Antigone believes in the laws of the deity which forces them

Management Dissertation Proposal Proforma Research

Management Dissertation Proforma - Research Proposal Example Yes Degree Programme: MBA in Finance & Accounting Specialization Track: General _______ Finance ---X--- Marketing_______ [Please check as appropriate] Other___________________ (please specify) DATE: January 10, 2012Aims of dissertation Background of the research Financial markets across the world have been reporting increasing integration within the as well as across different boundaries. There are several factors that have drastically grown the financial markets in the last decades particularly in the developing countries and some of these factors are globalization, deregulation and advancement in technology (Abraham, Seyyed, and Al-Elg, 2001). Financial markets around the world are not uniform and this is the reason why an investor is able to make more profits then he should have by capitalizing on the opportunity created because of differences in prices (Masih, and Masih, 2002). Gain of one investor would result in the loss of another. However, if these markets are integrated and made uniform then an investor would not be able to make such gains (Stulz, 1981). With the passage of time, financial markets around the world have being integrated among themselves. The term market integration is referred to as a market where there are no obstacles for investors like legal restrictions, taxes, transaction costs etc (Solink, 1974). There are several advantages or benefits for integration among stock market and this is the reason why investors, financial analysts as well as policy markets have been paying considerable attention towards this subject. Some of the most important advantages of market integration are that investors investing in different parts of the world would expect the same amount of return from the investment as arbitrage opportunities would not exist. Also as the expected return would be the same therefore if an investor would like to earn higher return then it would have to take more risk and thus reward to risk ratio would be balanced. Also becaus e of market integration, the overall economy becomes more stabilized. It also encourages more people to make investment as there would be fewer chances of loss of investment as the overall productivity of the country would improve. If the Kuwait market is integrated with the global financial market, then the overall productivity and efficiency of the country would improve and more investment opportunities would emerge in the country. Also this would encourage more local business as well as foreign investors to invest in this market thus the GDP of the country would improve. These are the most important benefits that Kuwait market or any other market would experience if the financial market is integrated with the global market. Integration of financial market has become an important topic in today’s world as investors are able to invest in different markets in order to make the most of the opportunities prevailing in different regions (Kearney, and Lucey, 2004). Different scho lars and researchers have been focusing on this topic and considerable amount of research has already been done in order to analyze the impact of

Race and Whiteness Essay Example | Topics and Well Written Essays - 1000 words

Race and Whiteness - Essay Example From the discusses it is clear that a concept of whiteness is based on custom and tradition, but it greatly undermines social and scientific principles of race. Racism is a representation of a historical evolution and there is a great degree of the inferiority of an â€Å"other† â€Å"race†. Racial practices are usually degrading and representatives of ethnic minorities are afflicted by negative practices of racism. There are many factors influencing deepening of discrimination practices, such as customs, traditions, social and political factors and even law. Racism by intent in the run of time transformed different cultures and social practices and underlined the superiority of white ethnic groups. This paper stresses that the social construct of race and whiteness are considered in relation to Brazilians and Asian Americans. From the very beginning, Brazilians differed from native inhabitants by skin color and were often referred to as browns or blacks. Race classification on the basis of the skin color differed greatly from color of race. Starting from 2000 in Brazil there was a lot of complaints concerning discard of color of skin and there was a need to introduce numerous social and political changes in order to constrict social gap between native inhabitants and ethnic minorities. There are evident controversies between â€Å"ideological† and â€Å"scientific" positions and representations of race.

Answer all the question below Essay Example | Topics and Well Written Essays - 500 words

Answer all the question below - Essay Example The company’s management used buyers’ demographic data including whether they were English or Spanish Speakers, and which stores they bought from. This data was drawn from retail stores including US Wal-Mart, Target, Toys â€Å"R† Us and Kmart. This data was analyzed by the company and used to forecast the demand for the toys. LeapFrog communicated its decision to increase production of toys to Capable Toys within weeks; in the month of August. This was after the predictions were verified by the company’s management to be trustable. When the demand for LittleTouch grew, Capable Toys had to increase it productivity to meet the rising need. However, there was no immediate way of increasing the company’s production. Capable Toys Ltd of Zhongshan, China had to hustle and try hard to get extra custom-designed electronics, plastic molds and baby-drool-proof paper. There was also need to hire more workers. Furthermore the company needed to make more production tools. The production problem was solved by ordering the production of two more sets of production tools which finally helped boost production. The tools were better designed – they were made such that they could produce unique toys while reducing their fail rates from 5% to 0.3%. Capable Toy Company had problems getting a supplier for sensitive touch membrane but then they were able to get other suppliers. The company also needed a special material that was drool–resistant and ink absorbent called Tyvek. The only way to get this material was by getting it supplied by third party, not directly from the manufacturer, DuPont Co. LeapFrog approached a U.S. company that could get this material directly from DuPont Co and gave it the printing contract as well. This move however added 50 to 60 cents per book in production costs. Leapfrog Company made a decision to use air shipping and fast boats to transport its products from Hong Kong to Los Angeles to respond to the shortage experienced. Using

Business Development Essay Example | Topics and Well Written Essays - 2000 words

Business Development - Essay Example By learning these very basic steps, running our own business and developing it can be both exciting and rewarding. It is our ability in developing and implementing strategies effectively that will avert stressful and unpredictable situations in business. â€Å"It is a truth that the sandwich business is a rapidly growing segment of the fast-food industry as demonstrated by the growth of various brands across the globe. (Emerald MangementXtra). Hence, there is opportunity to every player in the market, and scope for improvement. The decision to develop products and services can mark the beginning of an extremely difficult process for many businesses. In fact, new product development is often considered to be the cornerstone for building any successful business. Without it, businesses tend to stagnate, and then eventually decline. This is particularly true for small scale businesses. It is a proven fact that products and services you are offering will serve as the catalyst that drives your business to higher levels of success. Business development should never be a long and costly endeavor. Objectives of any enterprise is to establish its unique presence in the related business activity, sustain, develop and surge ahead, by being dynamic and growth oriented, through planning. Planning is the backbone of any business venture –be it a small sandwich shop or a multi national organization. A step by step plan is the core requirement for developmental process, along with proper resource and budget allocation. This step is detrimental to the organization to sustain and develop further in the market. A SWOT (Strength, Weakness, Opportunity and Threat) analysis need to be carried out to identify our established strengths related to the products/services offered by the establishment, our competitive edge, existing and target customers, their expectation, sales and marketing strategies, pricing, an effective marketing plan,

Power of the Few Essay Example for Free

Power of the Few Essay The three articles to be tackled by this essay discuss the presence of a power elite, a term coined by author C. Wright Mills.   The articles talk about how the power elite emerged and existed, who comprises it, and evidence to prove why these people are, in fact, the few who hold power in America.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The first article is C. Wright Mills’ The Power Elite wherein he argues that the power of the elite is not derived from their individual attributes but from three societal institutions, specifically the economy, politics, and the military, where power is actually concentrated (332).    To support this argument, Mills points out that there are extraordinary men who are heads or are in command of major social structures and are in the position to make decisions that will have great consequences affecting society (332).     He goes on to point out that even if these men do not make decisions or act for their institutions, such is actually an influencing act in itself (332).   And who are these men who govern the three major institutions of society? They are â€Å"the wealthiest, most celebrated, most powerful†¦[with] resources of men, women, and money†¦and mass media focused on them† (336).     Mills then presents two points of view regarding the existence of powerful elite: those who do not believe that power elite exists and those who believe that it exists only because historical situations show that decisions are being made but the average and ordinary citizen did not make that decision (333).   However, Mills then argues that there are institutions that do in fact unite the decisions made and the historical events that show those decisions (334).   And even if one will argue that society is also ruled by religious, educational and familial institutions, Mills concedes that although these institutions are present and working in society, they are just but the means of the big three[1] to legitimize its power and decisions (334).   In fact, Mills argues that if the smaller institutions do not go about the path laid down by the big three, then the big three can always do something to change the structure of smaller institutions so as to fit their plans and decisions (334-335). In the end, Mills wraps up his article with the conclusion that there are those extraordinary men in the three biggest influential institutions in society that dictate its course and that although they are not solitary rulers (333), it is only through them that power â€Å"can be more or less continuous and important† (336).   And these men are so powerful that their wills are followed and realized even if others resist it (336).   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The second article is Diversity in the Power Elite by Richard Zweigenhaft and G. William Domhoff, wherein the authors concluded that â€Å"power elite is more than a set of institutional leaders† (338).     The authors attack the view of C. Wright Mills that society is not pluralistic and that it is controlled only by a handful through a research on whether the three major institutional hierarchies have become diversified over the years since Mills’ theory.   And the answer is yes.   The authors’ research showed that the power elite have been diversified through the presence of more women and minorities (339). The research further shows that although there is diversity in the powerful, there are many things that have not changed.   For one, the core group of the elite is still predominantly Christian white males and many groups that contributed to diversification remain underrepresented (339).   Two, â€Å"high social origins continue to be a distinct advantage† and those who are able to penetrate the major institutions play the game according to the rules that have been followed since time immemorial (339). Lastly, the acceptance of diversity was only a result of   â€Å"pressure from activists and feminists† (339).   The article further discussed that although there was diversification in the power elite, the diversity only ends with the gender or race of the person.   In fact, diversity strengthened the power elite even more because it â€Å"held the same values and perspective as those who are already in power† (340).   In the end, diversification did not disprove the existence of the power elite, as enunciated by Mills, but only expanded its membership.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   The last article is by Louis Desipio and Rodolfo O. De La Garza entitled Forever Seen as New: Latino Participation in American Elections wherein it proposes that the growing importance of the Latino electorate in American elections is a result, not of Latino mobilization, but of following an Anglo pattern where the more educated and economically advantaged are the ones who vote (346). The article presents the impediments to a more active Latino electorate: being young, less well-educated, low incomes, and not being American citizens (343, 344).     These impediments have been remedied somehow by the emergence of â€Å"new cadre Latino elites and new institutions† comprised of young and well-educated Latinos (345).   This new cadre exposes Latino issues which enable politicians to address them with more knowledge (345).   As a result, although development in Latino participation will be slow, the new cadre will prove to be influential as it is the voice of the Latino community.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   With the three articles read and analyzed side by side, the most and key concept is power elite.   Mills defines the power elite as the concentration of societal power and influence in a few.   It is often comprised of the highly educated and wealthy people who occupy high posts in either the economic, political or military institutions. The article of Zweigenhaft and Domhoff   proves that although there is a move to further diversify the power elite, there is still only a handful who dictate the course of society as the newcomers hardly have proposed major changes, and in fact settle for playing the game the way the power elite has played it ever since.   The article of Desipio and De La Garza is not any different since it discusses the concentration of Latino electoral participation in the young and well-educated.   At the end of the day, Mills’ concept has expanded but not altered in any way.   Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚  Ã‚   With the three readings main theme of power in the few, I was awakened to the possibility that there really might be just a few people who are running our country through the economy, politics, and the military.     I realized that family, education and religion are not even major powerhouses but do play some role in putting the power elite in their positions.   Those who are wealthy and had the opportunity to graduate from ivy-league and other elite schools are perceived as the people who know a lot and could probably make the right decisions for the country. As a result of this thinking, they are placed in positions that take the correct actions for their institutions.   But I cannot entirely concede that that diversification has not changed anything in the power elite and that the newcomers have not changed anything in society.   Gender and racial issues are core agenda in society today although it must be noted that minorities are still that: minorities.   It is still the rich, the smart and the popular who are in a state of power and influence.   How else can you justify Arnold Schwarchenegger   winning the gubernatorial seat? [1] Economic, political and military institutions

Analysis of the Money Market in India

Analysis of the Money Market in India Money market is an important segment of the financial market (system) as it provides avenue for equilibrating the short term (ranging from overnight upto an year) demand for and supply of funds. It also plays an important role in the transmission mechanism of monetary policy, as it acts as a medium through which the central bank can influence the short term liquidity and interest rates in the financial system. Till the mid 1980s the Indian money markets was characterized by scarcity of instruments, stringent regulations pertaining to participants and interest rates, lack of depth and liquidity. Another drawback in the Indian money market during this period was existence of a large number of lenders and only a few chronic borrowers. Infact the basic requirement of a liquid and deep market that the participants should rotate between borrowing and lending activity was missing. However RBI took many measures to deepen and widen the money market in accordance with the recommendations of the Committee to Review the Working of the Monetary System (Chairman: Professor Sukhamoy Chakravarty) [1985] and the Working Group on the Money Market (Chairman: Shri N. Vaghul) [1987]. These measures included the deregulation of money markets interest rates, introduction of new money markets instruments such as certificates of deposits (June 1989), commercial paper (Jan 1990) etc. Also the RBI gradually eased the barriers to entry and initiated measure to increase the number of participants in the Money Market. RBI in a ssociation with the public sector banks and financial institution had set up the Discount and Finance House of India Ltd. (DFHI) in April 1988 in order to impart liquidity to the financial instruments. Thus financial innovations in terms of money markets instruments, broadening of participants base and strengthening of institutional infrastructure were undertaking during the 1990s based on the Vaghul Committees framework. Further during the late 1990s the Narasimham committee (1998) recommended rationalization of the money market by ensuring participation of different classes of entities in various segments of money market. RBI has over the years taken many structural measures and instrument-specific measures like transformation of call money market into pure interbank market, bringing down the minimum maturity of the CDs to 7 days etc. to develop the money market in pursuance of the Narasimham committee recommendations. Also a fullfledged liquidity Adjustment Facility was introduced on June 5, 2000 which replaced the traditional refinance support on fixed terms. The LAF was operationalised with a view to alter short term liquidity conditions as per the market conditions. In wake to strengthen the payment system infrastructure the Clearing Corporation of India Ltd. (CCIL) was formed in 2001. Also the introduction of the Negotiated Dealing System (NDS) in February 2002 and implementation of the Real Time Gross Settlement (RTGS) system in March 2004 further improved the efficiency in the money market. Improve These policy initiatives undertaken over time have led to the growth and sophistication of Indian money market, making it relatively deep, liquid and vibrant. Also the activity in all the segments of the Indian money market has increased significantly, especially during last few years. Currently the major segments of the Indian money market are Call (overnight) and Short-notice (up to fourteen days) Money Market Treasury Bills Market. Repos Market Term Money Market Collateralised borrowing and lending obligation (CBLO) Commercial Paper (CP) Certificates of Deposit (CDs) Money Market Mutual Funds (MMMFs) Among these, call and short-notice money and Treasury Bills form the most important segments of the Indian money market. Let us discuss each of these in brief: Call/Notice Money market The call money market is one of the most important and active segment of the Indian Money Market. Over the years RBI has taken many measures for development of the call/term money market. During the 1990s measures were taken to widen the participation of the call money market to include primary satellite dealers corporate (through primary dealers) in addition to the existing participants like commercial banks co-operative banks, LIC, UTI, etc. However the Narasimham committee recommended the conversion of the call/notice money market in a pure inter-bank market on prudential considerations and with an objective to improve the monetary transmission mechanism. Thus in accordance with the Narasimham committee recommendations (1998), measures were taken to convert the call market into a pure inter bank market starting in 1999. Simultaneously steps were taken to develop a repo market outside the official window for providing a stable collateralised avenue for deployment of funds by the non-banks following their phased exit from the call money market. Also introduction of instruments such as Collateralised Borrowing and Lending Obligation further provided the banks and non banks with a funding alternative. Consequently the call money market was transformed into a pure inter bank market in August 2005. Reflecting the conscious decision on the part of the RBI to make the call/notice money market a pure inter bank, the average daily turnover, which stood at around Rs. 351.44 bn in FY02, almost halved to Rs. 141.70 bn in FY04. However it increased in the subsequent years and was Rs.217.25 bn during FY07. The operational efficiency in the call money market was improved with the establishment of the CCIL and operationalisation of NDS. Furthermore the RBI made it mandatory for the all the NDS members to report all the call/notice money market transaction carried out through NDS within 15 minutes of winding up of the transaction. This helped in increasing efficiency, transparency and improve price discovery in the money market. In order to further increase the transparency and facilitate better price discovery CCIL developed a screen based negotiated dealing quote-driven system for all dealings in the call/notice and the term money markets (NDSCALL). This system was made operational on September 18, 2006. Further the RBI has over the years carried out many reform measures such as adoption of Liquidity Adjustment Facilities (LAF) etc. in order to impart stability in the call money market. In the 1990s the call rates were generally stable barring a few episodes of volatility. Tight liquidity condition in the call money market, backed by high levels of statutory pre-emptions and withdrawal of all refinance facilities except the export credit, led to firming up of the call rates during the beginning of FY92. Infact the call rate touched a peak of 35% in May 1992. After that the call rates eased for some period and again firmed up to touch 35% in November 1995. This was partly a reflection of the turmoil in the foreign exchange market. Inorder to stabilize the market the RBI injected liquidity in the system through repos, increased refinance facilities and provided some respite by reducing the CRR. With RBI sucking out liquidity to ease foreign exchange market pressure the call rates, which had eased to single digit levels, again firmed up to 29% in January 1998. The adoption of the LAF in June 2000 has helped the call rates to ease. The call rate eased significantly to a low of 4.5 percent in September 2004, backed by improved liquidity conditions on account of increased capital inflows. However on account of IMD redemptions the call rates came under some pressure in December 2005. It increased to around 7% during Feb 2007 partly influenced by the tight monetary policy stance by the RBI to curb high inflation. With the initiation of the LAF and subsequent improvement in liquidity management a considerable degree of stability has been imparted in the call money market. Since then the volatility in call rates has reduced significantly. According to the RBI the mean rate has almost halved from around 11 per cent during April 1993-March 1996 to about 6 per cent during April 2000-March 2007. Volatility, measured by coefficient of variation (CV) of call rates, also halved from 0.6 to 0.3 over the same period. It is important to note here that the in the pre-reform period the statutory requirements like CRR and SLR and reserve maintenance period have been the main driver of the call rates. However in the recent years the developments in other market segments, mainly the foreign exchange and the government securities market accompanied by the Reserve Banks liquidity management operations have been the major factors influencing the call rates. This signifies increased market integration and improved liquidity management by the Reserve Bank. Term Money Market Term Money Market, which is market for short-term funds of maturity between 15 days to 1 year, is not very well developed in India. Till the late 1980s, the term money market was governed by stringent norms in terms of participants, regulated interest rates etc. However the RBI has taken many measures over the years to develop this market. The administered interest rate system was dismantled in 1989 following the recommendations of vaghul committee. Further in 1993 select financial institutions (IDBI, ICICI, IFCI, IIBI, SIDBI, EXIM Bank, NABARD, IDFC and NHB) were allowed to borrow from the term money market for 3-6 months maturity, however within a fixed limit set for each institution. Also Term money of original maturity between 15 days and 1 year was exempted from the CRR in August 2001. Although many measures were taken by the RBI to develop the term money market, the activity (as reflected in the daily turnover) in this segment of money market continues to remain low. The average daily turnover in the term money market has increased moderately from Rs.195 crore in FY02 to Rs.1,012 crore during FY07. The development of the term money market has been impeded by confluence of factors- (i) the inability of participants to build interest rate expectations over the medium term due to which there is a tendency on their part to lock themselves in the short-term; (ii) the distribution of liquidity is also skewed with public sector banks often having surplus funds and foreign banks being in deficit in respect of short-term resources. Since the deficit banks depend heavily on call/notice money, more often, surplus banks exhaust their exposure limits to them; (iii) corporates overwhelming preference for cash credit system rather than loan generally forces banks to deploy a large amount in the call/notice money market rather than in the term money market to meet sudden demand from corporates; (iv) the steady reduction in the minimum maturity period of term deposits offered by banks; and (v) the tendency on the part of banks to deploy their surplus funds in LAF auctions rather than in the term money market, reflecting risk-averse behaviour. Repos Market Repo is a money market instrument, which enables collateralised short-term borrowing and lending through sale/purchase operations in debt instruments. In this segment, mutual funds and some foreign banks are the major providers of funds, while some foreign banks, private sector banks and primary dealers are the major borrowers. Over the years RBI has taken many measures to reform the Repo market, which was highly regulated both in terms of participants and instruments till the late 1980s. Before April 1988 all government securities and PSU bonds were eligible for repo transactions. However with the alarmingly high growth in repos RBI became cautious and prohibited the participation of non-banks in the repo market. RBI permitted only interbank repos in all government securities between April 1988 and mid-June 1992 in order to avoid any undesirable developments on account of the large scale misuse of repos. The Janakiraman Committee, set up following the securities market irregularities of 1992, reported that despite of being prohibited virtually all wholesale participants of the money and not only banks widely used the repos. Also many other irregularities were in the repo markets were bought to the forefront, following which the repos were prohibited in all the securities barring the treasury bills. However in wake to revive the repo market and noting the usefulness of repos in development of money market, RBI gradually bought all Central Government dated securities, Treasury Bills and State Government securities under the purview of repo market. Furthermore, with the view to broaden the repo market PSU bonds and private corporate securities have been made eligible for repos in 1997-98. Further RBI introduced the delivery versus payment system during FY96, with an aim to facilitate the repo transactions and increase transparency in the repo market. Nonbank entities which maintained subsidiary general ledger (SGL) account were permitted to participate in the repo market. Since March 2003, the non-bank financial companies, mutual funds, housing finance companies and insurance companies not having SGL account were permitted to transact in the repo market through their gilt accounts maintained with the custodian. With the increase in use of repos as money market instrument the comprehensive uniform accounting guidelines as well as documentation policy were issued by the RBI in March 2003. In addition to this the DvP III mode of settlement in government securities (which involves settlement of securities and funds on a net basis) was operationalised in April 2004. This helped the introduction of rollover of repo transactions in government securities and offered greater flexibility to participants in managing their collaterals. The Liquidity Adjustment Facility (LAF), that was introduced from June 5, 2000, has also helped in development of the repo market. Further the gradual phasing out of nonbanks (August 2005) from the call money market, has provided further impetus to the repo market. This is evident from the sharp increase in the average daily turnover of repo transactions (other than the Reserve Bank) from Rs.11,311 crore during April 2001 to Rs. 42,252 crore in June 2006. Treasury Bills Market T-Bills are issued by the RBI on behalf of the Government of India and thus are actually a class of Government Securities. Presently T-Bills are issued in maturity periods of 91 days, 182 days and 364 days through an auction based system and form one of the most active segments of the Indian money market. However prior to the initiation of reforms, only the 91-day Treasury bills were sold through fixed coupon or tap system. Also ad hoc treasury bills were issued by the government in order to meet the temporary mismatch in revenue and expenditure. Although these were meant for temporary purpose they became attractive source of meeting the central government resource requirement as they were available at an interest rate pegged at 4.6% per annum since 1974. However due to administered nature of interest rate the 91-day treasury bills could not emerge as useful instruments in the money market. But with initiation of the reform measures in the late 1980s T-bills market has emerged as an important segment of the money market. The reform process in the t-bills market was initiated in November 1986 with the introduction of 182 days treasury bills. The formation of DFHI also helped in emergence of treasury bills market as important segment of the money market. Further impetus was provided to the development of the treasury bills market by the phasing out of the tap treasury bills and introduction of auctioning system in the 91-treasury. Another important reform in the treasury bills market was the abolition of the ad hoc treasury bills in April 1997. Further the introduction of 14-day intermediate treasury bills helped in improving the cash management of the government. Thus, Treasury bills of different tenors were introduced to consolidate the market for imparting liquidity, while yields were made market determined through auctions so that they could be used as benchmark for other short-term market instruments. Treasury Bills market has received special attention of RBI over the years as it is at the heart of the money market development. The amounts assigned for auctions are announced in advance since April 1998. Also the payments dates are synchronized on the following Friday after the auctions inorder to provide fungible stock of varying maturities and to activate the secondary market in Treasury Bills. The primary dealers provide their bid daily and offer discount rates so that the investors are able to acquire treasury bills even in between the auctions. Type of T-bills Introduced Discontinued 91 days Ad-hoc T-Bill Mid 1950s April, 1997 91 days T-Bill on Tap Mid 1950s March, 1997 182 days T-Bill on weekly auction November,1986 April, 1992 14 days T-Bill on weekly auction April, 1997 May, 2001 364 days T-Bill on fortnightly auction April, 1992 91 days T-Bill on weekly auction January,1993 182 days T-Bill on weekly auction Re-introduced in June, 1999 May, 2001 182 days T-Bill on weekly auction Re-introduced in April, 2005 The primary dealers provide their bid daily and offer discount rates so that the investors are able to acquire treasury bills even in between the auctions. Commercial Paper (CP): Commercial paper was introduced in India in January 1990, in accordance with the recommendations of the vaghul committee with an aim to provide additional avenues to the corporate to source short term funds. Commercial Paper (CP) is issued in the form of a promissory note sold directly by the issuers to investors, or else placed by the borrowers through agents such as merchant banks and security houses. Since CP is freely transferable, and highly liquid it provides the banks, financial institutions, insurance companies and others an attractive avenue to park their short term funds. Over the years RBI has gradually relaxed the norms relating to eligibility, maturity period etc. for issuing CPs. Initially, corporates were allowed to issue CP with a maturity between 3 to 6 months from the date of issue. However the minimum tenor of the CP was reduced in phased manner. Currently the minimum tenor of the CP is seven days (effective October 2004). Also the minimum amount to be invested by a single investor, which was Rs.1 crore at time of introduction of CP, has been gradually brought down to 5 lakhs. This norm was gradually relaxed so as to align the CPs with other money market instruments. These measures helped in the increasing activity in this segment of the money market. Initially the limit of CP issuance was carved out of the maximum permissible bank finance (MPBF) limit and consequently only to its cash credit part. However reducing proportion of cash credit in the MPBF was hindering the development of the CP market and hence issuance of CP was delinked from the cash credit limit in October 1997. Further with a view to enable issuers of the service sector to meet their needs of short-term working capital, CP was transformed into a stand alone product. Initially, the individuals, banks, companies, other corporate bodies registered or incorporated in India and unincorporated bodies were allowed to issue and held the CP. Further issuance of the CP to non-residents on a non-repatriation basis was allowed however these CPs were non transferable. Also the FIIs were permitted to invest in the CPs since October 2000, but within the limit set by SEBI. Further to improve the efficiency, rationalize standardize the various aspects of processing and reduce the transaction cost many measures such as dematerialization of CPs (effective June 30, 2001) were undertaken by the RBI. It issued draft guidelines on securitisation of standard assets on April 4, 2005, with an aim to further deepen the market. Consequently the issuing and Paying agents were required to report the issuance of the CP on NDS platform commencing from April 16, 2005. Over the years the major issuers of CP have been the leasing and finance companies. Discount rates on CPs have firmed up in line with the increases in policy rates during 2005-06 and 2006-07. It is advantageous for the corporate to raise funds through CPs during times of ample liquidity as the effective discount rates on CP tends to be lower than the banks lending rates. Also it is relatively profitable for banks to park their funds in the CPs during times of high liquidity as the interbank call rates tend to be lower than the CP rates. Thus the activity in the CP market reflects the liquidity condition in the money market. The average outstanding amount of CPs reduced from Rs. 22.80 bn during FY94 to Rs. 4.42 bn in FY96 on account of tight liquidity conditions in the money market. However the outstanding amount of CPs has increased in the recent years. It was Rs. 213.14 bn during FY07. However the secondary market for CPs continues to remain subdued as the investors prefer to hold the instrument till maturity as it gives them a higher risk adjusted return compared to other instruments in the money market. The secondary market of CPs is more profitable for the Mutual funds as they are charged higher stamp duty for issuing a CP as compared to the banks. Certificates of Deposits (CD) CD were introduced in the Indian money market in June 1989, with an view to widen the range of instruments in the money market and provide additional avenue and greater flexibility to the investors to park their short term surplus funds. During the pre reform period the CDs were governed by a number of regulations in terms of maturity, issuance amounts, maturity etc. However many guidelines pertaining to the CDs have been relaxed in the post reform period. The limit on issuance of the CD, which was earlier linked to the average fortnightly outstanding aggregate deposit, was abolished effective October 16, 1993. This was done with a view to enabling it as a market determined instrument. In order to align the CDs with other money market instruments the minimum maturity of the CDs has been reduced gradually to 7 days (April 2005). The minimum size of issuance was reduced from Rs 1 crore in 1989 to Rs. 1 lakh in June 2002. Also to provide flexibility and depth to the secondary market activity the restrictions pertaining to the minimum period for transferability were withdrawn over a period of time. With a view to improve transparency and promote secondary market activity the banks were instructed to issue CDs to the financial institutions only in dematerialized form, effective June 30, 2002. Since October 2002 the banks were allowed to issue floating rate CDs as a coupon bearing instrument in order to promote flexible pricing. The reduction in stamp duty on CDs, effective March 1, 2004 and withdrawal of the facility of premature closure of deposits in respect of CDs were other factors that boosted activity in the market, providing greater opportunity for secondary market trading. The activity in the CDs market is also depended on the liquidity conditions in the market as the CPs. Unlike the CPs the issuance of CDs increase in the time of tight liquidity conditions as the banks resort to issuance of CDs, often at premium, to meet their liquidity gap. For instance, the outstanding amount of CDs declined to Rs.949 crore during FY02 as compared to 1,199 crore, partly due to easy liquidity conditions on account of large capital inflows. However the average outstanding amount of CDs increased gradually during the subsequent periods. The average outstanding amount of CDs had increased to Rs.64,814 crore during FY07 as banks resorted to issuance of CDs in order to support the robust credit demand. The interest rates on CDs which had softened in the recent years in line with other money market instruments experienced some hardening during FY07. However banks offer higher interest rates on CDs as compared to other instruments and hence it is profitable for the subscriber to hold the CDs till maturity. This infact is one of the reasons for subdued secondary market for the CDs. Collateralised Borrowing and lending obligation: The CCIL operationalised CBLO as a money market instrument on Jan 20, 2003 with an aim to provide an alternative avenue to the market participants, especially those who were phased out of the call money market, to manage their short term liquidity. This innovative product developed by the CCIL facilitates anonymous order matching system for efficient price discovery. High transparency and real time basis of deals in the CBLO have assisted in enhancing efficiency of the money market. With the conversion of the call money market in a pure interbank market since August 2005 and setting of prudential limits on lending and borrowing by banks and PDs in the call money market, the activity has shifted to CBLO segment as can be seen in the below chart. The average daily turnover in the CBLO segment has registered an increase from Rs.515 crore in FY04 to Rs.32,390 crore during FY07. However the increase in turnover can be partly attributed to the increase in number of participants from 30 in July 2003 to 153 in March 2007. It is important to note here that the composition of market participants has also changed over the years. The mutual funds and insurance companies have emerged as the major lenders while the nationalized banks, PDs and non-financial companies as major borrowers during FY07. As borrowings in the CBLO segment are fully collateralised, the rates in this segment are expected to be comparable with the repo rates. The movements in the daily average rates in the overnight call, the repo and the CBLO markets for the period from January 2003 to March 2007 show that CBLO rates moved between the call and the repo rates up to November 2003 due to a limited number of participants. From November 2003, the CBLO rates have aligned with the repo rates on account of increase in the number of participants. Money Market Mutual Funds (MMMFs) With an aim of bringing the money market within the reach of individual investors the MMMF were introduced in India in April 1991. However a detailed scheme of MMMFs was declared by the RBI in April 1992, thereby allowing the schedule commercial banks and public financial institutions to set up MMMFs, subject to some terms and conditions. However to provide flexibility, liquidity and depth to the market these restrictions were relaxed over a period of time. For example the minimum lock in period for the units of MMMFs was brought down from 30 days to 15 days in May 1998. MMMFs were permitted to offer cheque writing facility in a tie-up with banks in 1999-2000 in order to provide added liquidity to unit holders. MMMFs, which were under the purview of RBI, were bought under SEBIs regulations Since March 7, 2000. Also it is important to note that now banks are permitted to set up MMMFs only in form of trust as a separate entity. Also the MMMFs were permitted to invest in rated corporate bonds and debentures with a residual maturity of one year.

Civil society in cuba Essay -- essays research papers

According to the Marxist concept of society, it is paramount to analyze the term "political organization of society", which is the expression of civil society as a whole. If we continue approaching the Marxist perspective, the origin of political organization of society lies on the division of society in antagonist classes, which leads to the differences in social and political life, and new social relationships appear: political and juridical, with their own organizations and institutions (State and political parties), which are founded in order to conquer power. Thus , the political organization of any society divided into classes is defined as "the system of institutions and organizations that regulate political relationships among classes, nations and States". (Konstantinov, F. Fundamentos de la filosofà ­a marxista-leninista, Parte II, Materialismo histà ³rico, De. Ciencias Sociales, La Habana, 1968, p. 149). As to other Marxist authors, the political organization in its narrow meaning represents the "system of the dictatorship of the dominant class", and in its widest meaning it represents "all who take part in the State affairs". The term "political organization of society" establishes a difference between civil society and State (Hegel already had dealt with that) and this difference is: the relationship between civil society and its political organization can be expressed as the relationship between contents and shape....

The Effects of Bullying on Student Achievement Essay -- Education

In today’s world there are many laws that have been established in order to protect everyday civilians from being harmed or robbed of their possessions or piece of mind. However, in school, children play by different rules. Rules do not seem as imperative as say a law being broken. For example, imagine if it did not matter what the robber stole, but how much he took that lets him off the hook. One would still be upset that his valuables were interfered with without permission. This scenario can be compared to bullying and how adults sometimes overlook the seriousness of the effects (no matter how big or small) it can have on a student and his or her achievements. Sometimes bullying is acknowledged, but is ultimately cast off as mere â€Å"child’s play,† but it can become so much more. A bullying incident does not stop in the school yard simply because a teacher puts an end to it; bullying must be addressed from all angles of parents, guardians, media, and everyda y civilians that are children’s immediate examples of proper ways to behave. Again, bullying spans beyond school walls and cannot ultimately be controlled by teacher discipline alone. The effects bullying can have on student achievement may interfere with their life choices, their physical and mental stability, and of course their future behaviors as a reaction to such behavior that was shown to them. It is arguable that broken citizenship among students is not as harmful as everyday citizens breaking common laws, but I argue that it is. However, this paper is not to argue; it is to inform every one of the issue at hand, so that it may be reduced, and that can only be done with harmony, not coercion, or plainly â€Å"bullying.† What exactly is bullying, to the extent that I am spea... ...l abuse. However, it is not a situation exclusive to occurring in school, it happens outside as well; the effects of it are simply more noticeable through the results of student work or lack thereof. If bullying is not addressed, dropout rates, youth suicide, and lack of positive future leaders are in store for future generations of education. â€Æ' Works Cited "Bullying." Merriam-Webster.com. Merriam-Webster, 2012. Web. 16 April 2012. Kritsonis, W. PhD. School Discipline: The Art of Survival. Mansfield, Ohio: BookMasters, Inc. 1999. Print. Meyer, E. Gender, Bullying, and Harassment: Strategies to End Sexism and Homophobia in Schools. New York: Teachers College Press. 2009. Print. Singer, L. Jerome, and Dorothy G. Singer. Television, Imagination, and Aggression: A Study of Preschoolers. Hillsdale, New Jersey: Lawrence Erlbaum Associates. 1989. Print.

Catcher in The Rye Essay -- essays research papers

Catcher in the Rye   Ã‚  Ã‚  Ã‚  Ã‚  J.D Salinger’s novel â€Å"Catcher in the Rye,† focuses mainly on Holden Caulfield because he is the narrator and the novel is about his memory of characters and events throughout the story. These characters are more than just remembrances but actually help the reader to better understand Holden. Mr. Antolini, Phoebe, and Jane Gallagher are all characters that help fully characterize Holden.   Ã‚  Ã‚  Ã‚  Ã‚  Mr. Antolini helps the reader better understand Holden’s hasty judgments about characters in the novel. He is one of the few people in the novel who Holden respects and does not consider a â€Å"phony.† Holden respects Mr. Antolini because he understands him and does not treat him like an inferior student like the rest of his teachers do. Mr. Antolini is very open with Holden and this is shown when he lets him stay the night in his apartment. Holden’s quick judgments of people are shown and better understood when Mr. Antolini touches his forehead while he sleeps in chapter 24. â€Å"I know more damn perverts, at schools and all, than anybody you ever met, and they’re always being perverty when I’m around.†(192) Holden jumps to conclusions right away when he wakes up to Mr. Antolini touching his forehead. Instead of thinking that his teacher was just showing affection and care for a student he is very quick to think that he is a pervert and homosexual. In the quote Holden says, â€Å"they’re always being perverty when I’m around,† this is more evidence that Holden jumps to conclusions and is quick with assumptions rather than to think about what it is to be a pervert. He thinks that he is just in the wrong place at the wrong time but it is more likely that he just assumes they are being â€Å"perverty† when they are truly not. Another example of Holden being quick with judgment is directly after the incident happens. Without letting the incident sink in, Holden changes into his clothes and runs out of the apartment. Mr. Antolini and the events that take place in his apartment help the reader fully understand Holden. Mr. Antolini is a compassionate person and his actions are out of care for his friend and student, Holden’s quick and hasty judgment is shown when he overlooks Mr. Antolini’s concern and affection for a homosexual advance.   Ã‚  Ã‚  Ã‚  Ã‚  Phoebe is another character that helps the reader bet... ...y voice was shaking something awful.† Holden’s helplessness to realize that sex can be casual is showing that he is immature and that he doesn’t want to let go of his childhood innocence. Jane’s character, a girl who Holden knows very well and has affection for, has casual sex which makes Holden very upset, this helps the reader better understand Holden’s immatureness and his refusal to let go of his childhood innocence.   Ã‚  Ã‚  Ã‚  Ã‚  In the novel â€Å"Catcher in the Rye† the reader is able to better understand Holden by the characters in his remembrances. Mr. Antolini, a person who shows affection for Holden, shows the reader that Holden makes quick assumptions and judgments with characters in the novel. Phoebe, Holden’s younger sister, makes it evident to the reader that Holden does not want to grow up, mature, and have a future as an adult. Jane Gallagher’s character also helps the reader better understand Holden by making it evident that he does not want to let go of his childhood innocence. Although Holden’s character is the main focus of the novel, his remembrances of other key characters help define him and give the reader a better understanding of who he is.

The character of Claudius

The character of Claudius can be recognized as the major antagonist in the play. Traits such as being cleverly evil, lustful, and conniving were the factors that won him the crown as the King of Denmark.As a king, Claudius focused on protecting his throne from being relinquished from him. He was a smooth talker and had the ability to manipulate others as a faà §ade of his corrupt nature as a politician.There is great question when it comes for his love for Gertrude as it is seen to be a political move to gain power. Although, even if he did remotely cared about Gertrude, he still allowed her to drink from the poisonous goblet knowing that she would die so he would not be implicated in an attempted murder (Hylton 2000, Act V). His craftiness and love for power prevented him from showing that he sincerely cared for the people around him.The random times that he had shown genuine emotions for other people than himself was when Polonius died and the kindness he had shown for Ophelia. He could not bring himself to kill Hamlet himself because of his feelings for Gertrude. He cannot resist worldly desires and choose them over his soul. He was not a monster with absolutely no moral fiber instead he was morally weak and unable to choose good over evil.Q)2 Gertrude, Hamlet’s mother was a beautiful queen of Denmark who remarried her late husband’s brother Claudius shortly after her husband’s murder. There are significant questions to her character in terms of the purity of her intentions in remarrying as well as her involvement in Claudius’ murder of the king.She was a woman with much love for her status in society, much like her new husband, and for affection and sexual attention. Hamlet was disgusted with her inability to exist without a man by her side and how she uses them for her own self-preservation and called his mother frail (Hylton 2000, Act I).Hamlet was greatly distraught with how morally frail his mother was and was even in agony because of it. He was affected by his mother’s lack of morality and suffered because of it. There was nothing exaggerated with how Hamlet felt about his mother. It would be disheartening for anyone who would see his mother be so sickening, what more to see a queen of a nation act in such a manner.He was depressed because he had deep and genuine affections for his parents. He felt significantly associated to his mother because they were related and her corruption is directly his corruptions as well as they are family. He felt defiled by his mother’s inability to uphold moral strength that he himself exhibited such weakness in his own relationship with Ophelia. Hamlet’s focus on his mother’s morality was aligned with a son’s nature that cared about his mother’s wellbeing.Q3) There were so many similarities in the character of Hamlet and Laertes as men, although Hamlet holds some qualities that make him somewhat better than Laertes.   They we re both impulsive at different degrees when they are angered. They both sought revenge for revenge for the death of their fathers.Laertes wanted to kill Claudius when he suspected him for killing his father, Polonius (Hylton 2000, Act IV).   However, Hamlet could not bring himself to kill Claudius to avenge his father without evidence sufficient for his intellect. He was always drawn to answering philosophical and difficult questions.   He contemplated about a lot of things before acting on them while Laertes was impulsive and quick to act.Although, there had been times when both acted spontaneously because of rage, like when Hamlet killed Polonius instead of Claudius. Both men shared great love for their families and exhibited domineering qualities in the women in their clans. Laertes warned Ophelia about Hamlet’s intentions and Hamlet was troubled by his mother’s marriage. However, it is still Hamlet’s completative nature that wins out because it is always wiser to think before one act. Reference:Hylton, J. (2000). The Tragedy of Hamlet, Prince of Denmark. From The Complete Works of William Shakespeare. Retrieved on August 23, 2007 from http://shakespeare.mit.edu/hamlet/full.html.

Meeting the learning needs of all the children Essay

Although these areas seem separate, they are not planned for individually. One activity may cover three or four areas of learning. In my opinion the Guidance Document is very repetitive. This can be due to the fact that one focused activity can cover many areas of the six areas of learning. Children are developing at different rates and in many different ways. Some children will be better in certain areas whereas some children may excel in other areas, and â€Å"the Curriculum Guidance for the Foundation Stage (DfEE/QCA, 2000) recognises this, and therefore identifies a number of developmental stepping stones which identify the relevant knowledge, understanding, skills and attitudes needed to achieve each goal. † (ibid, pg. 5) In reference to my research, I have found that the Foundation Guidance document is inspired by the work of Jean Piaget and his four stages of child development. Piaget believed that children are born with the ability to think and must successfully pass through each stage of cognitive development before beginning the next stage. (Daly, M, etal, 2004, pg. 73-74) In my school and nursery experience, I found that all learning and planning begins at building from previous experiences/learning. I agree with Piaget’s theory that in order for children to develop their thinking they must be able to draw upon prior experiences first. Nursery settings allow children to explore and build upon a variety of different experiences through play and adult initiated activities, which provide a basis for learning when they reach school. My 3-5 placement was based in a nursery which allowed for children aged between 3-4. The nursery has two sessions, one in the morning from 9. 00am to 11. 30am, and one in the afternoon from 12. 30pm to 3. 00pm. Each session catered for a different group of children. The children are not grouped according to ability; they tend to follow friendship groups. The staff invites children to join in focused activities. The children are never forced to do anything they don’t want to. Continuous provision is the principle set up that the nursery follow and the children are free to explore all areas. These include the water area, sand, dough, home, book and construction areas. A painting area is also positioned in a child friendly location set up with primary and secondary colours. The mathematics table, writing table and work shop table is set with different activities on a daily basis. Children are learning through experimentation most of the time. I was surprised to observe just how much the children were learning without even realizing. Learning through play is a simple yet extremely effective way of learning for young children. Staff promotes learning by being well organized, each member of staff has a set responsibility and work on a rota system. All the equipment and resources are at child level and nearly everything has label or has a picture for where things belong. They follow a self tidy up rule which the parents are asked to implement at home also. The teacher ensures in her planning that all six areas of learning are covered throughout all activities which I will discuss in more depth; this includes outdoor play which is also specially planned for. â€Å"Well-planned play, both indoors and outdoors, is a key way in which young children learn with enjoyment and challenge. † (DfEE/QCA, 2000:25) Resources are brightly coloured and are in interesting, familiar shapes. The home corner is quite realistic and the children role play ‘families’ thus developing communication, sharing and turn-taking skills. I also observed that each area for learning e. g. the sand area, are set separately, with at least 100cm between them. I believe this is a good strategy as the children are less distracted when working/playing and finished what they were doing instead of leaving things half done.

Examine the theme of deception in Much ado about nothing Essay

The theme of deceit is apparent throughout the whole play and it helps to propel the plot forward. At the start of the play we are introduced to the idea that there is a gap between illusion and reality when Claudio is described as having â€Å"the figure of a lamb, the feats of a lion.† Despite being youthful, he is deceptively strong. Furthermore, â€Å"Lady Disdain† is presented to the audience as a contented maid, cynical about love â€Å"I would rather hear my dog bark at a crow than a man swear he loved me.† And Benedick is presented as a man who values his freedom and independence and proclaims that he would never succumb to marriage, he claims if he does his friends are free to â€Å"pluck off the bull’s horns and plant them in my forehead.† Both of these claims are false, as ironically, the two marry at the end of the play. The feuding pair, Beatrice and Benedick form a platform for the theme of deception as beneath the antagonism and mockery lies deep rooted emotions for each other. Their hatred is simply and illusion as a â€Å"false face† is presented to the world. Later in the play their love blossoms and Benedick’s views are ironically transformed â€Å"get thee a wife† Deception is further highlighted where Don Pedro offers to woo Hero on Claudio’s behalf. â€Å"I will assume thy part in some disguise.† Don Pedro’s dominance leaves the reticent Claudio no choice but to accept his offer and under a â€Å"mask† he woos the unsuspecting Hero. Deception is used here to form relationships. Masks are used to confuse illusion and reality in the ball Beatrice speaks openly about her thoughts on Benedick â€Å"why he is the prince’s jester† It is debatable whether Beatrice knows that Benedick is the stranger behind the mask but if she does happen to know this then she is deceiving him to make a fool out of him. In a lighter manner, Benedick and Beatrice are deceived into love by their matchmaking friends. In frivolous Messina the joy of courtship and matchmaking helps to highlight the trivial society in which they exist. Through eavesdropping they listen to false claims about love. Claudio claims that Beatrice is sick in love with Signor Benedick and â€Å"baits the fish† as they reel him in with intrigue and swelling pride. Similarly, Beatrice’s friends hope that â€Å"her ear lose nothing of the sweet bait we lay for it†¦Ã¢â‚¬  and both characters are tricked into love as their friends orchestrate a cunning plan. The most prevalent form of deception is used when the malevolent Don John uses deception to break the fragile relationship between Claudio and Hero at the climatic point of the play. He uses the male fear of cuckoldry to forge and administer his plan. Through claiming, †the lady is disloyal† he deceives his brother and encourages Claudio to believe the innocent Hero is â€Å"soiled† deceit is used here to slander an innocent maid. Rather that fall foul to the shame of infidelity, Claudio publically shames Hero and refuses her on the basis that she is a â€Å"rotten orange† again suggesting that outer appearances can be deceptive and she is rotten at the core. This sparks a catalyst for further deceit where Hero â€Å"fakes† her death. False friendships between Claudio and Benedick are exposed â€Å"I must discontinue your company.† and the calm, tolerant Leonato is unveiled to reveal a more aggressive and violent character who fears dishonour and public shame. â€Å"hence†¦let her die!† he would rather his daughter die than face the public humiliation. The tangled web of deceit continues where Leonato insists that Claudio marry his niece who is infact the â€Å"re-born† and cleansed â€Å"Hero† of the story. Claudio is deceived into thinking that his bride is dead. His willingness to accept the unknown, â€Å"Which is the lady I must seize upon?† shows that marriage for social grace is more important than love but also shows his commitment to show remorse. Finally, the very language of Much Ado about Nothing helps to illuminate the key theme of deception as the pomp of the aristocracy and the use of elaborate language encourages the audience to assume a moral and ordered society; yet lurking beneath this lies sinister and deceitful behaviour often born out of jealousy and desire.

Analysis of Divisional Performance of Asian Paints Ltd

DEPARTMENT OF COMMERCE SCHOOL OF MANAGEMENT PONDICHERRY UNIVERSITY ASSIGNMENT ON ADVANCED COST ACCOUNTING ANALYSIS OF DIVISIONAL PERFORMANCE OF ASIAN PAINTS LTD SUBMITTED TO: -SUBMITTED BY: – DR. G. SHANMUGHASUNDARAM A. PURUSHOTHAMAN ASSOCIATE PROFESSOR M. COM (BUSINESS FINANCE) DEPT. OF COMMERCE 2nd YEAR PONDICHERRY UNIVERSITY REG. NUMBER: 11351059 INTRODUCTION DIVISIONAL PERFOMANCE OF COST CENTRE AND PROFIT CENTRE A profit centre is a unit of a company that generates revenue in excess of its expenses. The main aim of profit centre is to earn profit.The performance of profit centre is evaluated in terms of whether the centre has been achieved its budgeted profit A  cost centre  is a business unit that is only responsible for the  costs  that it incurs. The manager of a cost centre is not responsible for  revenue  generation or asset usage. The performance of a cost centre is usually evaluated through the comparison of  budgeted  to actual costs. The costs incu rred by a cost centre may be aggregated into a  cost pool  and allocated to other business units. Investment centre is responsible for both profit and investment.The investment centre manager has control over revenue, expenses and the amount invested in the current assets. The following are the techniques used to measure the divisional performance of cost centre and profit centre * Variance analysis * Profit * Return on investment * Market share COST PER UNIT: Cost refers to the total cost incurred for the production. So cost per unit refers to the cost incurred for producing 1 unit. Normally we used the below formula to calculate the cost per unit Cost/unit = total cost / No. of unit produced COST PER UNIT year| Production| Total expenses| COST PER UNIT| 008| 40946. 7| 559586| 0. 073173203| 2009| 50418. 7| 602922| 0. 083623918| 2010| 57937. 2| 732142| 0. 079133829| 2011| 72582. 9| 849056| 0. 085486587| Interpretation: The above table and chart shows the cost per unit of Asian p aints India ltd. They incurred highest cost per unit in the year 2011. This may because increasing the cost of raw material or other charges etc. It is better to have lower cost per unit because when cost per unit increases the total cost will increase. That in turn reduces the profitability of a firm. In the 2008 the firms have lower cost per unit of production compared to other years.So may be this year the profit is increased. The cost per unit is higher in the years 2011 and 2009. COST VARIANCE Cost variance (CV) is the amount of money that was actually spent on a project or a part of a project compared to the amount of work that was actually accomplished. Cost variance = Budgeted cost of work performed – The actual cost of work performed. YEAR| TOTAL COST| STANDARD| COST VARIANCE | DECISION| 2008| 40946. 7| 61276. 54| -20329. 84| A| 2009| 50418. 7| 61276. 54| -10857. 84| A| 2010| 57937. 2| 61276. 54| -3339. 34| A| 2011| 72582. 9| 61276. 54| 11306. 6| F| 2012| 84,497. 20| 61276. 54| 23220. 66| F| Interpretation: Here from 2008 to 2010 there is a favorable situation because in these years actual cost is less than standard cost. In 2011 and 2012 actual cost exceeds standard cost. That may be because of increase in the cost/unit in these years. SALES VARIANCE Sales variance is the difference between actual sales and budget sales. It is used to measure the performance of a sales function, and/or analyze business results to better understand market conditions. Sales variance = Actual sales – standard sales Segment 1= PaintYEAR| SALE| STANDARD| SALES VARIANCE| DECISION| 2008| 39062. 2| 51731. 3| -12669. 1| A| 2009| 48641. 9| 51731. 3| -3089. 4| A| 2010| 56135| 51731. 3| 4403. 7| F| 2011| 63086. 1| 51731. 3| 11354. 8| F| Segment 2= Others YEAR| SALE| STANDARD| SALES VARIANCE| DECISION| 2008| 1731. 7| 1717. 375| 14. 325| F| 2009| 1634. 5| 1717. 375| -82. 875| A| 2010| 1774| 1717. 375| 56. 625| A| 2011| 1729. 3| 1717. 375| 11. 925| A| TOTAL SALES VARI ANCE YEAR| TOTAL SALES| STANDARD| COST VARIANCE | DECISION| 2008| 40,946. 70| 62,655. 72| -21,709. 02| A| 2009| 50,418. 70| 62655. 72| -12,237. 02| A| 2010| 57,937. 0| 62655. 72| -4,718. 52| A| 2011| 72,582. 90| 62655. 72| 9,927. 18| F| 2012| 91,393. 10| 62655. 72| 28,737. 38| F| INTERPRETATION Sales variance is higher in the year 2012 which means that company sold more than standard sales in the year 2012. And the 2011 also have the favorable value but it is lower than 2012. From 2008 to 2010 company cannot sold more than standard sales. That is an unfavorable situation for the company. MARKET SHARE The percentage of an industry or market's total sales that is earned by a particular company over a specified time period is known as market share.Market share is calculated by taking the company's sales over the period and dividing it by the total sales of the industry over the same period. This metric is used to give a general idea of the size of a company to its market and its compet itors. Market share Year| Total sales| Industrial sales| Market share | 2008| 40,946. 70| 348047| 11. 76| 2009| 50,418. 70| 393266| 12. 82| 2010| 57,937. 20| 260717| 22. 22| 2011| 72,582. 90| 834703| 8. 70| 2012| 91,393. 10| 868,234. 00| 10. 53| Interpretation: Company has highest market share in the year 2010. It is decreased in the subsequent years may be because of increased price of the products.WORKING CAPITAL TURN OVER RATIO A measurement comparing the depletion of working capital  to the generation of sales over a given period called as working capital turn over ration. This  provides some useful information  as to how effectively a company is using  its working capital to generate sales. WORKING CAPITAL TURN OVER RATIO YEAR| TOTAL SALES| CURRENT ASSETS| CURRENT LIABILITIES| WC| WCTOR| 2008| 40,946. 70| 8,686. 30| 8018. 6| 667. 70| 61. 32| 2009| 50,418. 70| 10,403. 70| 7811. 4| 2,592. 30| 19. 45| 2010| 57,937. 20| 11,981. 00| 10588. 7| 1,392. 30| 41. 61| 2011| 72,582. 90| 15,475. 70| 11952. | 3,522. 90| 20. 60| 2012| 91,393. 10| 19,927. 70| 16008. 9| 3,918. 80| 23. 32| Interpretation: Here working capital ratio is higher in the year 2008. This means that company may have adequate working capital for their operation in 2008. Working capital to ratio is very lower in the subsequent years (i. e. 2009 to 2012), it shows that company is struggled with inadequacy of working capital in that years. INVENTORY TURN OVER RATIO Inventory Turnover Ratio is one of the efficiency ratios and measures the number of times, on average, the inventory is sold and replaced during the fiscal year.Inventory Turnover Ratio formula is: year| Total sales| opening stock| closing stock| Avg stock| ITOR| 2008| 40,946. 70| 40,946. 70 | 42,954. 70 | 41,950. 70 | 97. 61| 2009| 50,418. 70| 50,418. 70 | 52,427. 70 | 51,423. 20 | 98. 05| 2010| 57,937. 20| 57,937. 20 | 59,947. 20 | 58,942. 20 | 98. 29| 2011| 72,582. 90| 72,582. 90 | 74,593. 90 | 73,588. 40 | 98. 63| INTERPRETATIONA low inventory turnover ratio is a signal of inefficiency, since inventory usually has a rate of return of zero. It also implies either poor sales or excess inventory. A low turnover rate can indicate poor liquidity, possible overstocking, and obsolescence, but it may also reflect a planned inventory buildup in the case of material shortages or in anticipation of rapidly rising prices. In our case the 2008 has the lower turnover rate. A high inventory turnover ratio implies either strong sales or ineffective buying (the company buys too often in small quantities, therefore the buying price is higher).A high inventory turnover ratio can indicate better liquidity, but it can also indicate a shortage or inadequate inventory levels, which may lead to a loss in business. Here the years from 2009 to 2011 there is constant turnover rate. RETURN ON INVESTMENT A performance measure used to evaluate the efficiency of an  investment or to compare the efficiency of a number of different inves tments. The objective of every firm is to earn a satisfactory return on capital invested. This is the measure of success i. e. it shows the overall profitability of the firm. ROI = PAT/ cap. Employed YEAR| PBIT| CAPILAT EMPLOYED| ROI| 2008| 5925. | 9,285. 00| 63. 81583199| 2009| 6075. 9| 10,944. 70| 55. 51454128| 2010| 10526. 9| 15,572. 20| 67. 60059593| 2011| 11636. 7| 19,753. 20| 58. 91045501| 2012| 14,086. 30| 24,877. 80| 56. 62196818| INTERPRETATION The above table and chart implies us, The ROI is higher in the year 2008. The Company gets 63. 82% as return on investment. This may because; in this year company sold more than the standard sales. So return on investment is increased. Company received lowest ROI in the year 2009 CONCLUSION: The Asian paints ltd is having an indifferent performance levels, they have both positive and negative performance indicators.The sales variance is for the last two years is favorable for the company, and also all other indicators such as cost va riance favorable for the firm. Another thing is that market share of the company shows a decreasing trend due to decrease in sales. The inventory and working capital of the company is also not good. So it is important for the company to focus on to improve sales volume with higher turnover, better maintenance of working capital. And to try to get more return on investment by adopt necessary measure and techniques.